How Was Brachiosaurus Discovered

For such a famous and influential dinosaur—Its been featured in countless movies, most notably the first installment of Jurassic Park—Brachiosaurus is known from surprisingly limited fossil remains. This isnt an unusual situation for sauropods, the skeletons of which are often disarticulated (read: picked apart by scavengers and scattered to the winds by bad weather) after their deaths, and more often than not are found to be missing their skulls. Its with a skull, however, that the story of Brachiosaurus begins. In 1883, the famous paleontologist Othniel C. Marsh received a sauropod skull that had been discovered in Colorado. Since so little was known about sauropods at the time, Marsh wound up mounting the skull on a reconstruction of Apatosaurus (the dinosaur formerly known as Brontosaurus), which he had recently named. It took nearly a century for paleontologists to realize that this skull actually belonged to Brachiosaurus, and for a brief time before that, it was assigned to yet another sauropod genus, Camarasaurus. The Type Fossil of Brachiosaurus The honor of naming Brachiosaurus went to the paleontologist Elmer Riggs, who discovered this dinosaurs type fossil in Colorado in 1900 (Riggs and his team were sponsored by Chicagos Field Columbian Museum, later to be known as the Field Museum of Natural History). Missing its skull, ironically enough--and no, theres no reason to believe that the skull examined by Marsh two decades before belonged to this particular Brachiosaurus specimen--the fossil was otherwise reasonably complete, evincing this dinosaurs long neck and unusually long front legs. At the time, Riggs was under the impression that he had discovered the largest known dinosaur—bigger even than Apatosaurus and Diplodocus, which had been unearthed a generation before. Still, he had the humility to name his find not after its size, but its towering trunk and long front limbs: Brachiosaurus altithorax, the high-thoraxed arm lizard. Foreboding later developments (see below), Riggs noted the resemblance of Brachiosaurus to a giraffe, especially given its long neck, truncated hind legs, and shorter-than-usual tail. About the Giraffatitan, the Brachiosaurus That Wasnt In 1914, a little over a dozen years after Brachiosaurus was named, the German paleontologist Werner Janensch discovered the scattered fossils of a giant sauropod in what is now modern Tanzania (on the eastern coast of Africa). He assigned these remains to a new species of Brachiosaurus, Brachiosaurus brancai, even though we now know, from the theory of continental drift, that there was very little communication between Africa and North America during the late Jurassic period. As with Marshs Apatosaurus skull, it wasnt until the late 20th century that this mistake was rectified. Upon re-examining the type fossils of Brachiosaurus brancai, paleontologists discovered that they were substantially different from those of Brachiosaurus altithorax, and a new genus was erected: Giraffatitan, the giant giraffe. Ironically, Giraffatitan is represented by much more complete fossils than Brachiosaurus—meaning that most of what we supposedly know about Brachiosaurus is actually about its more obscure African cousin!

Nonverbal Workplace Communication - 882 Words

Nonverbal Workplace Communication Introduction Most often, nonverbal communication reflects gestures, posture, body language level of eye contact and facial expressions. Voice quality such as rhythm, timbre, pitch, intonation and the level of stress articulated in the verbal tone are also regarded as nonverbal forms of communication. Nonverbal communication has the ability to reinforce and reiterate what is stated verbally with sequential instead of simultaneous repeating. Nonverbal communication can also indicated information that is contradictory to what is verbally spoken, or sending mixed signals. Moreover, nonverbal communication can be complimentary, accentuate and/or amplify what is verbalized. Additionally, an individual can use nonverbal cues as a disruption to the flow of conversation and as a means of subjugating or attempting to intimidate another individual. Other factors that impact verbal communication include the persons communication, their characteristics, as well as the relationship between the ind ividual Most social psychologists will tell you that nonverbal communication makes up about two thirds of all communication between two people or between one speaker and a group of listeners (Hogan Stubbs, 2003). According to Argyle et al., (1988) nonverbal communication has a number of functions with five being primary to include: (1) expressing emotions; (2) expressing interpersonal attitudes of the individual whether speaker or listener; (3)Show MoreRelatedThe Effects Of Nonverbal Communication On The Workplace Essay1804 Words   |  8 Pagesworking in a professional setting, nonverbal communication is just as important as all other aspects of communication. Whether working in retail or a corporate desk setting, the way we interact with others says a lot about what we are thinking or how we are feeling. This can sometimes cause tension in the workplace if the interaction is awkward or if there is confusion in between the individuals. To prevent any negative energy caused from n onverbal communication, there should be rules set in placeRead MoreEffective Communication Is Vital for Sucees in Professional, Corporate, and Academic Environments579 Words   |  3 PagesEffective communication skills are vital to success in professional, corporate, and academic environments. We are evaluated daily on our ability to communicate efficiently in interactions that take place at work, as well as in our personal lives. According to Faye and Jerry Wisner, communication is the process by which we verbally or nonverbally convey a message to another person or a group of people in a way that can be received and understood. The two types of communication found to be most effectiveRead MoreNonverbal Communication : The Method Of Encoding And Decoding1108 Words   |  5 PagesNonverbal communication consists of the method of encoding and decoding. Encoding is the act of producing the communication using gestures, facial expressions, and posture. Decoding is the process of rec eiving the information and how the individual processes that information based on their previous experiences. Culture plays a significant role that helps the way learning activities are organized. Nonverbal communication consists of visual cues such as kinesics, proxemics, paralanguage, and hapticsRead MoreEye contact Essay1485 Words   |  6 Pagescommon phrase used about the eyes is that, â€Å"the eyes are the window to the soul.† This phrase is not necessarily true; however, it gives a good perspective on how people use eyes to judge a person’s character. First of all, eye contact is a great communication tool and can be used effectively in social situation. Second, a teacher can use eye contact to help their interaction with students. Third, employers want a future employee to have good eye contact to know that the employee is listening and willRead MoreThe Effects Of Tactile Communication On The Human Resource Manager ( Hrm )1250 Words   |  5 PagesOne type of nonverbal communication is haptics. Haptics refers to the study of communication by touch (Anonymous, 2012). According to Anonymous, 2012, â€Å"touch is necessary for human social development, and it can be welcoming, threatening, or persuasive.† The meaning of a simple touch differs between individuals, genders, and cultures. It is important for the Human Resource Manager (HRM) to recognize these differences in order to improve communication and be effective in the workplace. Tactile communicationRead MoreUsing Sounds in Communication Essay841 Words   |  4 Pagesperson or group is communication (Quintanilla Wahl, 2014). Demonstrative communication can send messages in a nonverbal and unwritten form of communication such as body language, tone of voice, and facial expressions that can have a positive or a negative result that effects an individual’s listening or response with the exchange of information. Society uses verbal communication as a main part of their lives, and demonstrative communication accentuates on the verbal communication. Facial expressionsRead MoreThe Importance Of Nonverbal Communication And How It Affects Their Perceptions Of Different Interactions Essay1163 Words   |  5 Pages Harmony in the workplace is something every manager should strive for. A big part of achieving this is proper communication. Communication involves spoken words and nonverbal cues. The majority of the communication that goes on in the workplace is nonverbal. Successful employees are aware of their own nonverbal cues and pick up on the nonverbal cues of their coworkers and managers. Introduction Non-verbal communication is the language without words. Hynes states that â€Å"understanding the importanceRead MoreEssay on Analysis of Nonverbal Cues In The Workplace948 Words   |  4 PagesTo be successful in business, one must be able to perceive and use nonverbal cues to one’s advantage. It has been noted by communication experts that when two people have face-to-face communication only a small percentage of the message is delivered through the words they use. The majority of the message is understood and received through nonverbal communication behaviors. These behaviors include gestures, postures, facial expressions, and even clothing; all of which can interfere with the verbalRead MoreThe Importance Of An Undergraduate Business Management Student1535 Words   |  7 Pagesbusiness world, a key component to the productivity within the workplace is communication. As an undergraduate business management student, an important part of communication is understanding the difference between maintaining the faà §ade of an authoritative figure or maintaining a friendly relationship with employees and how it would affect the attitudes, behaviors, productivity and quality of work. In order create a successful workplace environment, finding and establishing a middle ground betweenRead MoreHow Leadership And Attitude Go Together1416 Words   |  6 PagesHow Leadership and Attitude Go Together According to Merriam-Webster Dictionary (2014) attitude is a feeling or way of thinking that affects a person’s behavior† (pg. 1). Normally, when someone thinks of communication, it’s in the verbal form. But what about communications in the nonverbal form, for example one’s mood? Is it a possibility if a leader comes to work with a negative attitude that it can be damaging to the whole team? It is imperative to make sure that leaders understand that coming

Nationalism As A Reason Of World War I - Free Essay Example

Sample details Pages: 2 Words: 685 Downloads: 10 Date added: 2019/05/02 Category History Essay Level High school Tags: War Essay World War 1 Essay Did you like this example? It has been argued throughout this paper that Germanys assertive nationalism and war planners belief in offensive dominance jointly contributed to the outbreak of World War I. The injection of personal policy preferences into the decision-making process by leaders and inconsistent cooperation between civilian elites and the military lies at the heart of this issue. Whereas Brooks has written that strategic coordination between civilian elites and leaders in Wilhelmine Germany was particularly weak with the military enjoying autonomy from politicians, the evidence has shown that coordination between the military and the civilian leadership did exist with reference to the pursuit of nationalistic programs to establish Germanys world power status. Don’t waste time! Our writers will create an original "Nationalism As A Reason Of World War I" essay for you Create order These inconsistencies in coordination can be explained by the personalities and personal policy preferences of the leaders driving policy execution processes. Germanys pursuit of Weltpolitik was spearheaded by Wilhelm II, who hoped to gain the support of the public with the united support of Blow (civil complex) and Tirpitz (military complex); while the civil and military wings were aligned under the kaisers supervision and authorized naval development, what began as an attempt for Germany to seek international recognition as a world power devolved into a costly arms race with Britain. While the Navy League and the battleship development program secured the allegiance of the middle class and generated public enthusiasm for the monarchy and support for Weltpolitik, assertive ship building challenged Britains naval dominance. This contributed to regional instability and increased the risk of a future war by prompting Britain to seek alliances with Germanys neighbors. Britain sought alliances with Japan in 1902, France in 1904, and with Russia in 1907 to counter Germanys challenges to its regional dominance. During this period, the civil complex and military complex lost alignment on the issue of pursuing assertive and nationalistic naval development. Blow cautioned the kaiser on a more passive and peaceful way forward while Tirpitz (military complex) presided over the passage of legislation that exacerbated the arms race and led to the construction of more ships, reflecting the assertive nationalism of the military and its growing influence. Ultimately, Wilhelm IIs desire to see Germany attain world power status resulted in the inducement of regional stability and the formation of a counterweight to German power. Policy realignment between civilian elite and the military was regained under Hollwegs chancellorship due to his own personal policy preferences. He thought the war could be used to secure a larger colonial empire, and used the July crisis as an opportunity for Germany to launch a preventive war and preserve its nationalistic dreams. In this way, Hollwegs own policy preferences, like Wilhelm IIs, escalated regional instability and contributed to the outbreak of war. Hollweg and the civilian elites nationalist decision-making and support for a preventive war to preserve a path for the development of Germanys colonial empire was consistent with the offensive-dominance strategies of German war planners. Military leaders believed that the July crisis presented a window of opportunity for Germany to bring Austria into a preventive war, gain public support for the conflict by shifting the blame on Russian challenges to the peace, and mobilize forces quickly to attack its adversaries to cap italize on its declining offensive dominance in military strength before Russia and its allies got stronger. The personal policy preferences of leaders in decisions that were made to cause World War I mattered because the evidence has shown that they were willing to take risks in order to preserve what they thought was a pathway for Germany to pursue its nationalistic desires and build a colonial empire. The kaiser advocated an aggressive, nationalistic policy that made Germanys regional neighbors feel insecure and ally with each other. All the while, a nationalistic, powerful military continued to push for policies that escalated regional tensions. Hollwegs own nationalistic decision-making exacerbated the tensions that had been stirred up with Britain, France, and Russia in the wake of the Anglo-German naval contest, and he acted against an indecisive kaiser to plunge Germany into war. This leader-influenced nationalism was compatible with military planners belief in the cult of the offensive and led to the outbreak of World War I.

The Field Of Data Analytics - 1642 Words

In today’s complex business environment, the field of data analytics is growing in acceptance and importance. It is playing a critical role as a decision-making resource for executives, especially those managing large companies. To shed more light on how companies are taking advantage of analytics, Deloitte Analytics commissioned The Analytics Advantage, the first in an annual series of surveys focusing on the state of analytics readiness at leading corporations and what the future holds. Businesses are struggling with the rapidly increasing volume, speed and variety of information being generated today -- what s come to be known as big data. Companies are seeking technologies that not only help them process and manage all that data, but tap into it to develop insights about the markets they compete in as well as their own performance within those markets.In addition to the growth in importance of analytics and its prospects for the future, other central themes emerged, including the varied ways in which analytics is structured and managed within these enterprises. This signals that the practice of analytics, while progressing as a decision-making resource, remains in its early development stages and will continue to evolve and mature as long as it generates tangible financial benefits for the corporation. Survey Findings: Analytics has arrived: Analytics is already an important competitive resource for man companies, with fewer than 20 percent of respondents statingShow MoreRelatedThe Field Of Data Analytics Essay1119 Words   |  5 PagesIn today s mind boggling business environment, the field of data analytics is developing in acknowledgment and significance (Grant and Jordan, 2015). It is assuming a basic part as a basic leadership resource for officials, particularly those overseeing expansive organizations. Notwithstanding the development in significance of Planned/Analytical and its prospects for the future, other focal subjects emerged, incorporating the differed routes in which Planned/Analytical is organized and oversawRead MoreAnalytics In Oil And Gas Essay1068 Words   |  5 PagesRole of Analytics in Global Oil Gas Introduction: The usage of oil and gas goes on increasing day by day. So, the methods used for extractions must be changed to face the normal need of these oil and gas in future. There are many challenges which the oil and gas industries are facing to satisfy the demand of these resources. To overcome these challenges, the use of digital data kicks in the form of Big Data and Analytics helping to collect and analyze vast amount of data which are obtained duringRead MorePersonal Statement : Marketing And Finance804 Words   |  4 PagesPersonal Statement Growing up in a business background where my family had been in the international trade business for the last hundred years, I was always amazed to see how data science gradually involved in our family business. I have also gained insight into the data science tools and how data science improved our business decision-making and performance. During the past three years, I have found my post-graduation in Marketing and Finance comes out to support my success on my professional careerRead MoreAnalytics, Quantitative And Statistical Models1451 Words   |  6 Pages Analytics, quantitative or statistical models to analyze problems may be applied to a variety of business problems, including customer management, supply chains, financial performance and many other. It is the back bone of any organization which helps in effective decision making. Today, it has creeped into each and every industry and has created a â€Å"perish or persist† scenario to the industries. Describe your company s position and ability to compete on analytics Analytics plays a major roleRead MoreHuman Computer Interaction And Analytics Technologies Essay1723 Words   |  7 PagesHuman Computer Interaction and Analytics A Term Paper Presented to CMPS 5443: Adv Top: Human-Comp Interaction Department of Computer Science Midwestern State University In Partial Fulfillment Of the Requirements of the Degree Master of Science By Manju Yadav Akkaraboina Fall - 2016 Abstract This paper explains the development in the human computer interaction by using the analytics technologies. The analytics technologies act as a decision support system for the further development in theRead MoreImpact Of Big Data On Businesses1298 Words   |  6 Pages The impact of big data to businesses CIS 5681 Research Project Big Data Solution for Businesses Summer 2015 06/24/2015 Sai Kireety Kokkiligadda Sxk77140@ucmo.edu â€Æ' Abstract Big data is buzzword in every field of business as well as research. Organizations have found its application across various sectors from Sports to Security, from Healthcare to e-Commerce. Information when rightly put in use can cease the market. For instance, with the rise of smart phone purchases, transactions throughRead MoreWhat Is Mapreduce For Clinical Analysis1032 Words   |  5 Pages BIGDATA ANALYTICS ASSIGNMENT-2 HITESH BANDARU ID#1174297 MapReduce for clinical analysis: Introduction: The huge data in the clinical settings shows the challenges in data storage and analysis. Advances in data and correspondence innovation exhibit the most feasible answers for Big data analysis as far as proficiency and adaptability. It is fundamental those Big data solutions are multithreaded and that information get to approaches be absolutely customized to huge volumes of semi-organized/unstructuredRead MorePredictive Analytics : A Gold Mine1554 Words   |  7 PagesPredictive Analytics: A Gold-Mine Yet To Be Exploited To Its Zenith Akanksha Pandey Information Technology Department, VESIT, Mumbai-74, India. Abstract 1. Introduction The proliferation, ubiquity and increasing power of computer technology has increased the volume of data oday`s mobile technologies and social media have collection and it`s storage manifold. This led to unleashed an exponential increaseRead MoreAnalytics Is The Discovery And Communication Of Meaningful Patterns883 Words   |  4 Pages Analytics is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance. Analytics often favours data visualization to communicate insight. Why you need analytics? ïÆ' ¼ To measure and track your results across time ïÆ' ¼ To understand your visitors, leads, prospect ïÆ' ¼ To understand, track and improve the mechanismsRead MoreDisruptive Innovation: a New Era of Crowdsourced Data Analytics!1581 Words   |  7 PagesAbstract: The existing business paradigm of data analytics is set for a transformation. Today, companies are experimenting to replicate the â€Å"Outsourced data analytics† model to â€Å"Crowdsourced data analytics†. Companies like Kaggle, Crowdanalytix and others are hitting the headlines of top analytics blogs across the globe. The reason is that the new business model promises a drastic decrease in the cost of analytics for companies long with the flexibility to get the problem solved anytime with much

Policing in Regards to Race, Gender and Ethnicity - 819 Words

In the United States the issue of Policing in regards to race, gender and ethnicity has been an ongoing reform in which state and local legislatures have been dealing with as of recent years. Although there have been legislation on equal opportunity, the primary significance in promoting equality has been the Civil Rights Act of 1964. The Civil Rights Act is a federal legislation, which in part bars discrimination based on race or gender. Employers from local and state agencies are all affected by this legislation. To enforce and see that the legislation is carried out accordingly, the government created the Equal Employment Opportunity Commission. However, prior to the Civil Rights Act, we take a look back into the historical overview of policing within the United States. Policing in America is a transplant of English heritage policing model. During the early colonial times, formal police departments had yet to have been created. Over time outbreak social disorder and crime erupted causing for a more formal police to model. Formal policing model began to arise in the late 1800’s and leaders at the time attempted to reduce control of the police by politicians. As the 20th century rolled in, the focus began to latch closely on the thought of policing to be an actual professional force. Ultimately, as time progressed so did reforms to change the directive of police department policies. The reforms came at a time where police officersShow MoreRelatedThe War On Drugs And Drugs Essay1549 Words   |  7 Pagesargue that law enforcement agencies routinely engage in racial profiling, arresting and charging a disproportionate number of individuals who are from visible minorities. Unfortunately, police agencies simply explain that they have not targeted the race, but they target the crime. As a result, this paper will examine the relationship between the racial profiling by police agencies and the drug offense, affected minorities by the racial profiling, a nd possible explanations why minorities are in aRead MoreCriminal Justice Trends Evaluation1581 Words   |  7 Pagesthe values of the system in a changing society. Recent trends affecting the criminal justice system are related to gender and racial barriers. According to Roslyn Muraskin and Albert R. Roberts (2009 ), assessments of statuses of women and minorities in police work shows that there are obstacles in official and informal structures of police work organizations related to gender and race. Regardless of assessment studies, which show that women are effective patrol officers, organizational principlesRead MoreEffectiveness And The Overall Perception Of The Police Force2696 Words   |  11 PagesA diverse society is a society in which there are different kinds of people, different races such as black, white, Asian, Mexican etc. The concept of diversity involves acceptance and respect. It means understanding that each individual is unique and recognising individual differences. These can be along the dimensions of race, age, ethnicity, sexual orientation, gender, socio-economic status, physical abilities and religious beliefs. Diversity in the police force is one of the most important aspectsRead MoreAttitudes Towards Police: What are Young Adults Perception of Police?3573 Words   |  15 Pagesenforcement officials and find how these interpretations developed and the sources from which they derived. Literature Review This report examines young adults’ views of law enforcement. It examines the impact of several variables such as race, gender, police contacts, and perceptions of neighborhood and police and media accounts which shape young adults’ opinions. â€Å"Negative perception on the part of young people towards police has been linked to the tendency of young people to come to the attentionRead MoreRace and Ethnicity in Police Employment Practices Essay1818 Words   |  8 PagesRace and Ethnicity in Police Employment Practices Isabel R. Rodriguez University of Phoenix October 3, 2011 Blanche Cook Race and Ethnicity in Police Employment Practices An important part of the United States workforce is made up of police officers. The number of police officers employed has grown drastically over the past few years. However, although the number of police officers employed has increased, public scrutiny has as well. The police employment practices have affected the publics’Read MoreHow Law Enforcement Affects Minorities1392 Words   |  6 Pagesfrom the white supremacist and we do have a more diverse system the race of the criminal seems to still be affecting the outcomes of criminal justice. In earlier times, courtrooms and many jurisdictions were all white decisionmakers. We can see a lot of poorly executed decisions by law enforcement such as stop and frisk due to racial profiling or taking advantage of young minorities influencing them to falsify a confession . Race plays an important role in the justice system because if it s seenRead MoreRacial Profiling Is A Breach Of Justice1491 Words   |  6 Pagesprofiling is co nsidered to be a breach of justice in the US. It is the use of someone’s race or ethnicity by law enforcement in deciding whether or not to stop, search, or arrest an individual. The practice of racial profiling is still very controversial today and is considered illegal in many jurisdictions. It is hard to say whether racial profiling is ethical or not. Profiling based on gender, race, or ethnicity is just the way our minds work; it’s natural. We create ‘profiles’ of how we expect thingsRead MoreStop and Search Powers1426 Words   |  6 Pagesâ€Å"The police have a number of powers of stop and search. When using any power they must always have regards to the Police and Criminal Evidence Act 1984 (PACE) codes of practice.† The effectiveness of the police stop and search procedures being used as a valuable tool in the detection of crime can be measured by looking at the role that stop and searches play in policing and the arrests they lead to. However their impact on the community and the negative image it has given the police force outweighRead MoreInstitutionalized Discrimination : The Unearned And Discriminatory Oppression Of An Individual1155 Words   |  5 Pagesboth examples of institutionalized discrimination. The phenomenon occurs u nintentionally at times. The employees will probably automatically think of someone close to them, often of the same race and ethnic group and gender. A hiring decision such as this has the potential to perpetuate racial and gender inequality in the workplace. Some cities and towns are taking matters into their own hands to address the issue of institutionalized discrimination in the Mebane, North Carolina area, and includedRead MorePublic Perception of the Police Essay1471 Words   |  6 PagesAbstract The media portrayal of policing is filled with both positive and negative representations of police work. As a result, a complex relationship exists between media consumption and public attitudes towards the police. The purpose of this study is to test the impact that media consumption has on attitudes toward police misconduct. The research design proposed for use in this study would be the experimental design, a two-group, posttest-only, randomized experiment. Introduction The

Collective bargaining free essay sample

Collective bargaining is concerned with the relations between employers acting through their management representatives and organized labour. It is concerned not only with the negotiation of a formal labour agreement but also with the day- to- day dealings between management and the union. Because the management of the people in so many organizations is closely intertwined with union- employer relationships, it is essential that the student and the practitioner of management develop a sound knowledge of collective bargaining. Furthermore, the effect of collective bargaining extends beyond these establishments that are unionized. It impacts upon the economy as a whole, upon the practices of non-union organisations and upon the society at large. Key Words: collective bargaining, negotiations, union-employer relationships. Introduction Collective bargaining according to Salamon (1957) is a method of determining terms and conditions of employment, which utilizes the process of negotiation and agreement between representatives of management and employees. It provides a formal channel through which the differing interests of management and employees may be resolved on a collective basis. We will write a custom essay sample on Collective bargaining or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Mulvey (1986) defines collective bargaining as a system based on selfdetermination with the contracting parties voluntarily assuming responsibility for reaching an agreement and honouring that agreement. According to International Labour Organization (ILO) Convention No. 98, by Nyman C (1981 p.4) , collective bargaining is seen as a voluntary negotiation between employers’ organizations and workers’ organizations with a view to regulating terms and conditions of employment by collective agreements. Elderly and retired employees Warren (1990) says that welfare for elderly employees is primarily to prepare them for retirement and dealing with any problems they have in coping with their work. Preparation for retirement is a valuable service that many firms offer. Some companies have made special provision for elderly employees by setting aside jobs or work areas for them. However, this has dangers. Treating employees as special cases ahead of their time makes them over-aware of their condition or too dependent on the services provided for them. Retired employees, particularly those with long service, deserve the continuing interest their former employer. The interest need not be oppressive, but continuing social occasions can be provided for them. Group welfare service Group welfare services mainly consist of sports and social clubs, although some companies still support various benevolent societies, which provide additional help and finance in times of need (Wickens, 1987). Heinrich (1959), states that a massive investment in sports facilities is usually of doubtful value unless there is nothing else in the neighborhood. Companies should be prepared to share its facilities with the local community. Facilities can be provided within the firm’s premises if they are needed and are readily available. An investment in special facilities should be made only if there is a real likelihood of their being used regularly by a large proportion of employees. This is an  area where prior consultation, before setting up the facility, and self- government, when it has been established, are essential. Conclusion It is however, increasingly being recognized that employee welfare is the  responsibility of line management and supervision. If the line managers take on their proper role as team leaders as they are close enough to each worker, they should be in a position to identify any personal problems affecting the work of their subordinates. They should be able to either counsel the employees or refer them to the counselling agencies.

Behavioral Finance In Investment Decision -Myassignmenthelp.Com

Question: Discuss About The Behavioral Finance In Investment Decision? Answer: Introduction Behavioral Finance and investment management goes hand in hand as both are related to managing the Finances(Ritter, 2003). Investment management is a process where funds are managed. It shows as to how can a investor make decisions about investing his money(Stanlay, 2011). While, Behavior management brings together some economy principles which influences psychology of a human behavior while making investment decision. Intention of both of these is to help us make better choices. It involves already imbibed beliefs that make the person bias and these beliefs then hinder the decisions of a person. The concept of efficient market hypothesis is now a part of new modern finance. It is a sound concept in terms of finances. It can be applicable for the capital markets which are linked with the efficiency of cost and the other markets are also analyzed. It deals in the stock market where prices of market show the information about the companies. In other terms, the efficient market hypothes is is a theory of framework which helps in investing when human is going through behavioral finance(Malkiel, 2003). Behavioral Finance challenging the Efficient Hypothesis The Efficient Market Theory has been the only managing and controlling theory of management from many years. Later when behavioral finance came into picture; it challenged the assumptions of Market hypothesis, particularly related to the investment concept. It has involved psychology and emotions into investment behavior theory. Also there are shortcomings of Efficient Market Hypothesis which were pointed out buy the Behavioral Finance and also at the same time, it should be taken positively with respect to stock market studies(Sharma, 2014). The major challenges are the following: Availability and access to information Efficient Market Hypothesis states that the investment markets are sufficient with the information. Everyone can access the information whenever they need and due to this news of investment cannot be manipulated. Although, this statement faces challenges on the basis of two things: access and availability. From the theory point, everyone has access to only the investing information and not on the practical information. Due to daily lifestyle, everyone has different time to access to information. Availability of the information is also a weakness for EMH. Generally, the investment information is available to only top speculators or to the limited group of people who are investing and then at the later stage, it is shared with the public. Hence, the ones who get the information early take the advantage from this. Also, the major emphasis should be given to the on to the method by which the information is communicated rather than the availability of information. In the same context, beh avioral finance says that stock markets are inefficient in information in terms of availability and access(Akintoye, 2008). Fundamental Analysis The methods that help in making investment decisions usually are of two categories: Technical and fundamental analysis. In investment process, if investors want to establish good and profitable relationship with the company, it should apply fundamental components. Its the tendency of the investor to create a picture of the company in their portfolios when an investor is interested in the financial data of the company. Due to this they encourage relationships very confidently with the company they are interested in. In EMH, fundamental analysis is limited. Followers of the EMH, created issues supporting it and due to this, it was taken as a paradoxical theory and at last, concluded with refuting it. Technical Analysis EMH refutes the technical analysis, when the direction of prices on the study of past data forecasting is done. Due to this, the impact on the investment decision making lies because of the historical development of the company. Past data should not be just the focus for the research when one needs to achieve high returns. Past data should only be treated as a memory. Uniformity of Investment As stated by EMH, the people who are very much into the stock market and investment, they are looked as the colorless groups of people those who share the same attitudes, traits, methods and scope. Family or friends, experience or gender are not the things it is limited to. Rational Behavior People who invest in stocks are characterized as logical by the individuals who are efficient in market information. These regular investors are just focused on the outcomes so that they can maximize the profit by that. People, who stay abided by the same investing procedure on a day to day basis, are compared to as the soldiers marching. In investment, being rational is the key and the destination which creates the advantage of competitiveness. Emotions and Investment Investors always form their beliefs on the basis of their emotions involved in every bid. The types of feelings like optimism, pessimism encourage or discourage them from time to time during the investing process. Hence, emotions are clearly are vital in influencing the decisions of the investors. EMH suggests that there is no influence of the emotions in the stock market and the process of investing while behavior Finance emphasize on the emotions a lot and that they are the back bone of the framework. Efficient market hypothesis bubble As far as the investors are investing in marketing very rationally, the bubbles that are created in EMH cannot be understood. For example: the dot com bubble where internet based companies enjoyed a very high stock price by just adding a .com to it in the end. These bubbles and t hese arguments are in favor of dominating the Behavioral Finance over EMH. A nave hypothesis EMH is not a very complicated theoretical framework as compared to the Behavioral Finance. EMH is considered to be the nave approach or a simple one. Being simple or nave, it is very popular with in investors from a long time as it gives out the positivity in investing decisions, though the outcomes are serious. Behavioral Finance on the other hand is complicated and due to this it is not accepted by the majority of the community(Kalra et al., 2014). Implications of Behavioral Finance for Investment Managers While traditional theory states that the decisions made by the investors are mostly rational, the modern theory says that this is not the case. Decisions are mostly inconsistent and they play a very important role in influencing human mind by creating an illusion. The implications of behavioral finance are informed by the two cognitive illusions: Heuristic Decision Process and Prospect Theory. Heuristic Decision Process When tools like algorithms, techniques and tricks are used for solving problems, and then heuristic decision process takes place. When investors invest, their decision is not always rational as it is very difficult to remove the emotions from in the process. The factors that are included in Heuristic process are: Representativeness: The tendency to take decisions on the basis of the previous experiences is known as stereotype. Tversky Kahneman in 1982, defined representativeness as: 1) When the parent population is equal to the events characteristics and 2) Examines important features of procedure by which it yields. Overconfidence: It was studied by Guth, Dittrich and Maciejobsky in 2001, that only two third of the participants are overconfident. Also it was observed that those who lose their money in market are prone to becoming more confident. Confidence plays vital role in gaining success. Although it is not the only source for gaining success, it is encouraged by all and is considered to be a positive trait. Now when investors become over confident, they tend to excessive training which is bad(Chaudhary, 2013). Anchoring: When people invest, they tend to think that the final result would depend on the initial values of the trade in different situations but it might only be the partial calculation and not the final one. Although later anchoring process was involved where Kahneman and Tversky stated that different estimates lead to the initial values. Failure of Gamblers: When the probable results are being expected, lack of understanding and incorrect estimation can be done sometimes. This lack of incorrect decision making is known as Gamblers Failure. Bias Availability: It is like a cognitive bias which makes the human being to overestimate the possible probabilities of the events with distinct happenings. Generally, investors give more weight on the mostly available information while they make decisions(Jahanzeb et al., 2012). Herd Behavior: When the decision making is done by looking at other peoples decision, it is known as the herd behavior. Whenever anyone new joins the market, he being new would always look forward to other investors decision who is being dealing with the market from a long time. Mental Accounting: Found by Richard Thaler, it is a concept in which the investors frame the transaction the way they look at the utility they are expecting out of it. The bias decision is when the investors value the money on the basis of the source from where it is generated(Sharma, 2016). Conserve Nature: When any kind of change occurs, people tend to be slow toward adapting those new changes. This is known as conservatism bias. If t he changes are occurring on the larger basis, then people will adjust to it sooner and will react to that sooner. They can also possibly overreact too in some circumstances. Effect of Disposition: An investor after investing the money does not want to sell the share until it goes up on the price he put into it earlier. Even when the prices go down, investor does not want to sell. This effect helps in realizing the small gains and small losses that an investor might go through. It reflects in the average of the stocks trading volume(Weber Camerer, 1998). Loss Aversion: This theory is based on the idea that the loss that an investor carries is greater than the gift of the gain of the same amount. If the investors are reluctant to loss than they might invest even more to not be on the same position anymore. This process explains averaging down tactics where investor is exposed to the stock that is falling in order to regain what they have lost. This is known to be as escalation bias(KONSTANTINIDIS, 2012). Regret Aversion: It rises when the investor wants to avoid the feeling of regret that he gets from the loss of the amount in stocks when he made the poor investment decision. When they regret the decision, they will be more prone to hold their shares which are on the loss(Singh, 2012). Behavioral Finance, Market Hypothesis and Investment Management and their Impacts on each other When an avid investor invests in the market, he should be able to invest his money in the right way and at the right place. Investment management helps an investor to do that. Very often emotions come in between the investment. It depends on the amount that is being invested and the gains or the losses too(DUPERNEX, 2007). That is where behavioral finance comes into picture. Investment Management is also related to the asset management as it helps in the management of the infrastructures for operating the investments(Reyes, 2015). And efficient market theory is also very important for the finance in the modern world. It can be applicable for the capital markets(Degutis, 2014). Behavioral Finance basically refutes two implications of the EMH. Majority of investors takes logical decisions on the basis of information available. The price of the market is always right(nyssa, 2010). Efficient Hypothesis theory and behavioral finance both are important when it comes to investment management as they both have different but helps in the same i.e. investment. Within the last 50 years, EMH has been a subject of the academic research as it precedes fundamental theory of movement in the assets. The basic definition of this is that the market always operated efficiently and the stock prices are reflected in all the information. Now that everybody is keen to know all that information responds to it immediately. The result of which is that the efficient markets does not allow the investors to gain above average returns without taking any risks. While EM theory prevails in the financial economy, the followers of the behavioral finance believe that irrational and rational behavior or emotions influence the investors decision(Nath, 2015). Both these things does impact on the investment management as they both suggests different theories. Proponents of both the theories think different and that changes the prospect of investment management every now and then. Many behavioral finance concepts tend to refute the efficient market hypothesis. But that does not mean that the efficiency should be discounted on the whole. By understanding the weaknesses and the strengths of these theories can help the investor to catch new information and take more informed and subtle decisions. The market prices are high because millions of people thinking indifferently gets motivated by the emotions they feel while investing, gaining or loosing. When all the members who are investing, think alike, the estimate of the result or the prices is always inaccurate. In this situation, one can see the overflow of the information and motivation. It is the herd like behavior which creates one of the two emotions: fear or greed. While greed can make the investors buy same group of stocks, fear makes the investors pull their money out of the stock as they fear of losing it. Now regardle ss of the one who promotes efficient market theory or not, most people agree to the fact that creating the wisdom of crowds must be on the top priority of the avid investors, government, policymakers and regulators(Lo, 2005). Conclusion This essay shows as to how behavioral finance and efficient market hypothesis helps in investment management. When an investor invests in some stock, he goes through a lot of emotional changes as it is said by behavioral finance. Yet efficient market hypothesis refutes this theory of behavioral finance saying that emotions do not have any role in influencing the decisions of the investors while investing. The difference between both these theories is also discussed in this essay. There are some implications of behavioral finance for investment managers. All are discussed in detail as all of them denote different theories and logic behind investing. Finance recently seems to produce long term anomalies. The market anyway does not suggest that market efficiency should be deserted. On the other hand behavioral finance brings together the influences of human behavior in making investment decisions. It does not matter how sophisticated the data is, the decisions has to be taken by the inv estor only(MITROI, 2014). References Akintoye, I.R., 2008. Efficient Market Hypothesis and Behavioural Finance: A. European Journal of Social Sciences, 7(2). Chaudhary, A.K., 2013. IMPACT OF BEHAVIORAL FINANCE IN INVESTMENT. Int. J. Mgmt Res. Bus. Strat, 2(2). Degutis, A., 2014. THE EFFICIENT MARKET HYPOTHESIS: A CRITICAL. ISSN, 93(2). DUPERNEX, S., 2007. WHY MIGHT SHARE PRICES FOLLOW A RANDOM WALK? Student Economic Review, 21. Jahanzeb, A., Muneer, S. Rehman, S., 2012. Implication of Behavioral Finance in investment decision-making proces. 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