Simple Essay free essay sample

Therefore, some believe that high salary is the most important thing in their job. Others are of the opinion that people should work at jobs which is in their favorite. Each of views has its own merits. There are plausible reasons why many people look for jobs offering high salary. First of all, the fact remains that life is easier for those who have a plenty of money as they can do everything what they want, and do not have to think about whether they can afford it or not. No doubt, well paid job enable people to live in luxury house with all modern conveniences, to own the latest car, as well as cutting-edge machines which help housewives save amount of time and reduce physical effort. By this way, good salary possibly increases the quality of life. Due to earning large sum of money, my prosperous neighbor, for example, usually have an expensive holiday, eat in classy restaurant, and have ability to send their children to international school. We will write a custom essay sample on Simple Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However such job deprives the father of time for his family, meaning his children rarely see him. There are also strong reasons why others appreciate a work they enjoy. These people claim that money does not bring happiness, whereas enjoyable job not only makes your life happier, but also help you earn high earning in the near future. This due to the fact that you will find something interesting in your job that might seem dull and boring to others. As a result, you inevitably devote yourself heart and soul to your work, leading to you soon enhance the level of performance to get perfect result. As well as this, it highly likely that such job brings emotional satisfaction to worker and contribute to the development of company. It is reasonable to say that your boss will respect you, paying you higher salary, giving higher position. I am personally inclined to agree with the latter viewpoint I feel that enjoyable job, without doubt, obviously please you with happiness, successful and also money. Simple Essay free essay sample The democratic country of Panama has strong economic assets and is well governed which will exploit these assets to the good of its citizens and those wise enough to invest in Panama’s future. The Canal expansion will boost growth by an average of 1% in each of the next two years, which should partially offset the effects of a still weak U. S. economy. Economists predict and expect the economic growth in Panama to be around 4. 5% in 2010 and 5. 5% in 2011. Solid economic growth, enhanced tax collection, and spending restraint have helped improve the government’s fiscal position over the past few years. Fiscal improvements have helped reduce Panama’s public debt (domestic and external) from 70% of GDP in 2004 to an estimated 47% last year. In addition, good debt management has allowed the government to extend the average maturity of its obligations and reduce interest rates. Over the medium-long term, Panama’s economy will continue to benefit from its position as a major international hub. We will write a custom essay sample on Simple Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Further, the Canal expansion is expected to boost growth above potential until 2014. EDC Economics does not expect any radical change in economic policy by the recently elected government. [line] Political Until the May 2009 Presidential election, the fight for political power in Panama had been essentially limited to the Partido Revolucionario Democratica (PRD) and the Partido Panamenista (PP). Both of these parties are on the right of the political spectrum and made up of elites that move smoothly between business and politics depending on the opportunities at hand. However, for the May 2009 elections, the PP joined forces with the small Democratic Change (CD) party which led to the election of CD’s candidate Ricardo Martinelli as the new President of Panama. Martinelli, a successful local businessman, centered his presidential campaign on the necessity to bring â€Å"radical change† to the country, especially now that the effects of the global economic downturn are being felt in Panama. Not surprisingly, during his first weeks in power, President Martinelli praised liberal policies as the essential path to prosperity and development. Panama is firmly within the US sphere of influence, although politicians are careful to outwardly steer a path between the Americans and other countries such as Venezuela. The impact of the powerful forces of authoritarianism, military dominance, the US presence, and the oligarchy continues to permeate Panamanian politics and, in tandem with the strategic and economic importance of the Panama Canal, are variables that account for current and future political strategies. Panama is very attractive to investors given its fully dollarized economy with no exchange risk; an absence of barriers to repatriation of funds, low inflation, and its stable and sophisticated banking sector. Panama faces no threats of hostility either domestically or externally. Street protests and strikes are regularly used to attempt to sway political decisions and demonstrate public dissatisfaction, as it was the case in March 2010 when police clashed with protesters rallying against a recently passed tax reform bill. These protests however do not pose a threat to the country’s overall security or political stability. Smuggling and money laundering are issues of concern. Lack of aerial surveillance has made Panama a popular location for illegal runways that serve the drug trade. There is also evidence that powerful Mexican cartels are operating in Panama, and it is believed that fund-raising activities are being conducted in the Free Trade Zone.

Steroids Essays - Exercise Physiology, Doping In Sport, Bodybuilding

Steroids Essays - Exercise Physiology, Doping In Sport, Bodybuilding Steroids Ever since their introduction into sports in the later 1950's the use of anabolic steroids has been a controversial issue. Much debate has arisen dealing with whether steroids should be allowed for performance enhancement. If you're not familiar with them, The 1994 Merrian-Webster Dictionary defines an anabolic steroid as, "any of a group of synthetic hormones sometimes taken by athletes in training to increase temporarily the size of their muscles." However, it's not just the athletes preparing for rigorous competition that have been using these drugs. Business Weekly told of a study performed by the University of Illinois School of Public Health in which the results were shocking. According to Paul Goldstein, the chief investigator, individuals from all walks of life have admitted to the use of steroids. He states,"We're finding firemen, students, lawyers, teachers- people from all economic classesmost of them taking the drugs for cosmetic reasons" (177) All of these individuals had admitted to use because of the positive effects the steroids provide for their appearance. Along with these positive effects also come the negative ones. Symptoms such as acne, psychotic states, paranoia, headaches, high blood pressure, heart failure, strokes, and liver and kidney damage with quite a lengthy list of other harmful side effects related to extensive use. According to Dr. Robert Vow in his book Drugs, Sports, and Poli! tics, along with trying to keep competitions fair and equal for all who entered, these were the main reason that anabolics have been banned from sports since the 1976 Olympic games. Since these early years, not much has been heard about the use of steroids. True, occasional incidents remind us they are still around . For instance, when Ben Johnson was stripped of his gold medial in the 1988 Seoul Olympics and Lyle Alzado's death in 1992. For the most part though things seemed to have quieted down. This is speculated to be from the growing efforts to educate athletes and individuals on the extreme dangers associated with these steroids. Along with this education, one can not escape hearing the horror stories about what these drugs have already done to others and what it will do to them after prolonged use. With such an impressively long list of harmful side effects associated with steroid use, one could be certain that individuals would shy away from them. After all, the original purpose is to enhance their physical stature, not risk damaging it. We'd like to think that due to the strict regulation on today's athletes in competition, it would cause them to think twice before using steroids. Another possible reason for the declining use is that they're nearly impossible to get since they were barred from non-medical distribution back in 1991. These are definitely good points and one could easily be persuaded that such is the case . However, not everyone shares the same point of view. The other school of thought is that steroid use and abuse is just as wide spread today as ever, if not even more rampant. Athletes' feeling are that the gains far outweigh the risks even if they are just temporary enhancements. There are only a dozen or so reported fatalities dealing with steroid use, therefore individuals consider their odds to be pretty good. As far as regulation is concerned, as long as there have been steroids, there have been ways around the detection testing in an athlete's system. Another theory plays on the fact that it's not only the elite athletes using them. Teenagers and kids using them for appearance are becoming an increased percentage of users. This can be traced to images of large Herculean type men portrayed in all forms of media today. Arnold Schwarzenegger is a prime example sine he has admitted to the use of anabolic steroids. Kids are inspired by him and several other athletes and movie stars who they admire and want to emulate. Getting these anabolics may not be hard as one thinks. Just like any illegal substance, there are ways to obtain steroids for private use. Many think that there are enough smuggled into the U.S. from Mexico, Canada, and several eastern European to keep the current black market a thriving business. Are anabolic steroids still prevalent in the world of athletics

Compare Chinese monster and American monster Essay - 1

Compare Chinese monster and American monster - Essay Example Although many Chinese still believe that Nian exists, it has never appeared in the community or to a human again. Today, many of the Chinese light fireworks, as well as beat drums and gongs to drive the monster away. Modern people living in major towns and cities are the most notorious with the annual Spring Festival in commemoration of Nian the monster (Wong 27). In addition, the day signifies what most Chinese consider the unprecedented breakthrough after some villagers successfully tamed a horrible, ferocious monster that intimidated, attacked or even killed innocent people. Incidentally, tribulations of the village and the ultimate breakthrough forms the basis of contemporary traditions and customs associated with beating of drums, wearing red outfit and lighting of fireworks. The two other articles focus on Momo, an American monster. Momo (also known as the Missouri Monster) is hairy and foul-smelling (Hamilton 16). In general, the key differences between Nian and Momo highlight the fundamental cultural variation between China and the United States of America. The Big Book of Missouri Ghost Stories (2013) by Troy Taylor examines and analyzes the circumstances leading to the discovery of Momo the Missouri Monster. Apart from Momo, the article analyzes various legends and ghostly tales of Missouri (Taylor 130). In addition, the article asserts that most of the legends and ghostly tales consist of a mystery, bloodshed, and tragedy. Taylor further states that copious other stories about Missouri have since been lost in time, hidden or remained secret. Although a number of legends seem to have significantly impacted villages, towns and states, Americans do not take them seriously unlike the Chinese (Taylor 130). Louisiana residents have never considered the day some residents purportedly saw Momo special in their cultural history. Nevertheless, a few have forgotten the mystery and tribulations surrounding the reports about sightings of the

Mary Shelley- Frankenstein Essay Example | Topics and Well Written Essays - 750 words

Mary Shelley- Frankenstein - Essay Example However, one must ask him/herself whether all these experiments, explorations and research now are not as dangerous, or even more dangerous than those described in this novel. Victor Frankenstein, a young man, devastated by seeing his mother die is firmly resolved to study natural philosophy, particularly chemistry, with one purpose only: to find the secret to creation of life and preventing diseases from degrading, disintegrating, decaying of the human bodies, and maybe discover the secret to eternal life, or in other words to infuse life into an inanimate body. â€Å"†¦To examine the causes of life, we must first have recourse to death. I became acquainted with the science of anatomy, but this was not sufficient; I must also observe the natural decay and corruption of the human body†¦My attention was fixed upon every object the most insupportable to the delicacy of the human feelings. I saw how the fine form of man was degraded and wasted; I beheld the corruption of death succeed to the blooming cheek of life; I saw how the worm inherited the wonders of the eye and brain. I paused, examining and analyzing all the minutiae of causation, as exe mplified in the change from life to death, and death to life, until from the midst of this darkness a sudden light broke in upon me – a light so brilliant and wondrous, yet so simple, that while I became dizzy with the immensity of the prospect which it illustrated, I was surprised that among so many men of genius who had directed their inquiries towards the same science, that I alone should be reserved to discover so astonishing a secret† (â€Å"Frankenstein†, chapter 4, p.p.28-29). Similarly, Robert Walton, the captain of a ship exploring the northernmost part of the earth and narrator of Victor’s story, is in a similar search of the â€Å"country with eternal light†, mentioned in his first letter to his sister. Eternal light should be understood as his own search of ultimate knowledge.

Difference in Leadership Styles with First Born Children

Difference in Leadership Styles with First Born Children These children would want to achieve a lot. They set high standards and they are perfectionists. It is also stated that they focus on achieving the goals in the educational and occupational settings. The transformational leaders are always driven to achieve the goals set. They are also concerned with helping others solve their problems. They are motivated. They have a vision and they try had to achieve it. They encourage others to achieve and fulfil the goals of the organization. The first born children tend to be hard working. They possess authoritarian characteristics. They want to fulfil the expectations of the family. They are responsible. They are set to achieve their goal. They conform to the rules as they need to fulfil the expectations by the parent. Since they act in the same way their parents they tend to inspire others. They have qualities of others as they have grown up with the parents around and tend to pick those up. Hence, based on the above descriptions it was deduce d that the only children and first born tend to have most often the same characteristics. Many researchers have concluded that only-children and first-borns, regardless of gender, appear to be academic achievers as compared to later born children (Coleston, 2008). Thus, the hypothesis that â€Å"There will be no significant difference between Only children and First born on Transformational Leadership style† was formulated. Transactional Leadership Style Transactional leadership style mainly focuses this attention on the role and task and how this is related to the performance. The transactional leadership theory states emphasize on the relationships that are formed between the leader and follower on account of various exchanges (Burns, 1978 cited in Wheatley, 2010). In 1978, according to Hollander he theorised this leadership as to have various dynamic process. These were mainly in relation with the leader and follower and the interpersonal interactions among the two. These leaders were responsible to give clear instructions. They would reciprocate with the follower and respond to them appropriately. This in turn increased the leader’s influence on them (Hollander, 1978 cited in Wheatley, 2010). These leaders rewarded and gave the followers acknowledgement when the expectations or the goals were met. These leaders mainly negotiate and their roles and responsibilities and there is mutual respect and influence. According to Hei fetz in 1994, these leaders influence their followers and they are also under the followers as it is a reciprocal relationship. According to Burns 2003, leaders who are involved in both the simple and complex situations and they try to achieve the organizational goals (Wheatley, 2010). Only children never lack companionships. From an early age they are used to playing alone with their toys and not forming relationships much. Their job satisfaction most often depends on their urge to attain perfection. An only child will find a setting where they can work alone rather than in a team (Leman, 2009 cited in Murphy, 2012). The first born children are well organized. They feel they must be perfect in everything that they do. They stick to authority and they follow the rules (Kalkan, 2008 cited in Murphy 2012). First borns are seen as highly motivated and most often take charge of the things. First born children generally hold the dominant role over the younger siblings in the family (Tucker and Updegraff, 2010 cited in Murphy, 2012). They often fill high positions of authority in their professions. They set high goals for themselves and they generally would do anything to achieve the goals that they have set (Leman, 2009 cited in Murphy, 2012). According to the above literature review it has been seen that only children prefer working on their own rather in a team and also try to seek perfection. The transactional leaders share a relationship with their followers and clearly explain the roles. The first borns try hard to seek perfection. They are very motivated and do anything to achieve their goals. Hence, the hypothesis stating that â€Å"There will be no significant difference between Only children and First born on Transactional Leadership style† was formulated. Laissez faire leadership style These leaders generally cause confusion as they are in leadership positions but they are not working or associated with any kind of responsibility. They are inactive. (Bass, 1990 cited in Hartog et al 1997) reported negative correlations on laissez-faire leadership and this in turn results in the performance, effort and attitudes. This is the most inappropriate way to lead someone. There is not enough motivation given by them. A leadership theory by Kerr and Jermier proposed that subordinate, task, and, organization are the main characteristics. When there is no leader role the subordinates could be empowered to do work and thus this can result in transformational leadership (Hartog et al 1997). Only children are higher on taking initiative and personal aspiration. They are highly motivated. They focus on educational or occupational achievement more often. These children have stronger individual identities (Mellor, 1989 cited in Collins, 2006).The first born children are often seen as powerful and influential (Murphy, 2012). They operate as being responsible for their family members and in return about the productiveness of them. When they feel that the productivity has not been attained they feel that they were not good enough for the job (Hoopes Harper, 1987 Cited in Klas, 2002). According to the above literature review it can be seen how only children are seen are very motivating and focused. The laissez faire leadership style is one where there is no leadership role taken and they are irresponsible. The first born children are seen as powerful and taking initiative to complete a task. Hence, the hypothesis â€Å"There will be no significant difference between Only children and First born on the Laissez faire leadership style† was formulated. 2.2.1 ii Only children and Last Born Only children according to Adler will occupy a unique position as they don’t have another sibling to compete with. The only child generally becomes the focus of attention to the family (Havighurst, 1960; Leman, 1998 Cited in Klas, 2002).They lead their life with dependence and self-centeredness. They gain their family’s attention throughout their childhood. Later on in life there is this awakening where they are no longer the focus of attention anymore. They never had to compete with others. They usually have difficulty interacting with their peers (Hjelli et al., 1992). Only children do not have the habit of sharing their things with others this by default comes across as being selfish (Leman 1988, cited in Klas, 2002). The Last born children are considered the most outgoing and secure one in the family. They are generally the least academic ones (Herra, 2003 cited in Collins, 2006). They are looked as the least capable one when compared to their siblings. They are also looked as having less experience in comparison to the other siblings in the family. These children may become discouraged as they are not able to fulfil the expectations set by their older siblings and hence they are considered as failures. These children possess strengths such as caring, outgoing, thoughtful and empathizing which are certain personal skills that the other siblings tend not to possess (Snow et al, 1981 cited in Collins, 2006). Transformational Leadership Style In Transformational leadership however, the leader fails to understand followers motives and needs. The focus shifts from the need of the leader to the followers needs. By gaining an understanding of their followers needs, the transformational leader can potentially convert followers into leaders (Chandan et al, 2014). Hence, the hypothesis â€Å" Only children will be higher on Transformational Leadership style as compared to Last Born† was formulated. Transactional Leadership Style According to this theory there is an exchange of rewards between the leaders and the followers. Transactional leaders try to motivate their followers through extrinsic rewards. The roots of Transactional leadership theory is grounded in the social learning and social exchange theories, which recognize the equal nature of leadership. Bass and Avolio described contingent reward as that when the leader will give the subordinate once they have achieved goals that were agreed to. Contingent reward is therefore the exchange of rewards for meeting agreed-on objectives. Transactional leaders can also act by relying on active management by exception which occurs when the leader monitors followers to ensure mistakes are not made. In passive management by exception, the leader interferes only when things go wrong (Chandan et al, 2014). Only children are more autonomous when it comes to personal control. Only children prefer being around things than people. This has been seen from an early age where they play with toys rather than mixing with others. When the other person who the only child interacts with does not understand what he/she is trying to say they often get frustrated (Isaacson, 2004 cited in Murphy 2012). Last born generally have a drive for passion in their live. They strive for different type of success most often to a new innovate way something in which they can excel in and not the same field as their siblings. They are attracted by new ideas and innovations. They haven’t had much of the valuable experiences at home instead they are seen more sociable as they have opportunities outside their homes to develop these social skills (Snow et al, 1981 cited in Collins, 2006). According to the above literature review it can be seen that only children prefer working on their own. They do not like when others do not understand them They prefer things over people. The transactional leadership style is where the leader has a reciprocal relationship with the follower. They motivate their followers by giving rewards. Hence, the hypothesis â€Å" Only children will be significantly lower on Transactional Leadership style as compared to Last borns† was formulated Laissez faire Leadership style These leaders allow the group complete freedom in decision making. They never took part in any discussion of any kind. They dint not participate in working towards a goal as well. There were no appraisals also given to their followers. Hence, as it can be seen by the above literature review that the last born children are more sociable and they have innovate ideas which they excel in and especially good social skills. It can be seen since the last born children would be able to express their needs and give the rewards to their followers as compared to the only children. The hypothesis that â€Å" Last born will be higher on Laissez faire leadership style as compared to only born† was formulated. 2.2.1 iii First Born and Last Born First Born generally behave in a more mature way as they have interacted with adults mostly. They are hence expected to assume responsibilities. They resent having to serve as the models for their younger siblings. They also have to take care and look after their younger siblings. They generally conform to the wishes of the group they belong to. They generally give in to the wishes and are suggestible as they have always conformed to their parent’s wishes most often. They have been overprotected and hence there could be a lack of aggressive behaviour. The generally develop leadership abilities and this happens as since they were small they had to assume responsibilities at the house. They are often seen as bossy to others. They are usually really high achievers and sometimes even overachievers and this is due to the parental expectations that make them perform as they need the parent’s approval for almost everything. They feel replaced by the other sibling and therefore try and achieve a lot of things to gain the approval of their parents. They are unhappy and this stems as they feel really insecure after the other younger sibling has come into their lives (Hurlock, 1981).First born and last born generally occupy different positions in their family. First born constantly keep rankly themselves in relationship to the other people present around them. They generally tend to be more conscientious, intellectual, and socially dominant than later born. On the other hand, later born children are more agreeable, socially gregarious, and non-conforming. First born were always used to the attention given by their parents until the sibling was born, this led to feeling of dethronement and they became more dominant. Later born on the other hand were more agreeable and less conscientious as compared to First born (Sulloway, 2001 cited in Roach, 2006). Last born tend to be wilful. They are spoilt by the family and pampered. There wasn’t much discipline given to them and the parents were not that strict. They had greater feelings of security as there was no displacement for them. They are protected by their parents when the older sibling verbal or physically attack them. This is why they are more dependent and in turn they are irresponsible. They generally underachieve as they do not have much parental demands. They have extremely good social relationships outside the house. They tend to be popular but not good leaders due to their lack of responsibilities. They tend to be happy due to the attention they have received (Hurlock, 1981). Transformational Leadership style They are those people that encourage and motivate the followers to achieve the goals. A transformational leader mostly needs to make decisions quickly. They take each opportunity that is presented to them. These leaders are very persistent. They have a vision and are passionate about it. They possess values such as conviction and a good character. These leaders are caring and they respect other individuals. These leaders are competent as well. These leaders tend to see that their vision is achieved in the organization. They see that there is a change brought about in their subordinates. They are innovative. They tend to integrate the creative insight and intuition within themselves. These leaders focus on the other aspects looking towards the future and not just the current situation they are faced with (Bhargava, 2003). According to the above literature review it can be seen that the first born are more responsible as they have grown up with adults. The last born tend not to take up responsibility and they tend not to be good leaders. This helped in concluded and formulating the hypothesis that â€Å" First born will be higher on Transformational Leadership style as compared to Last born†. Transactional Leadership style Transactional leadership style mainly focuses this attention on the role and task and how this is related to the performance. The transactional leadership theory states emphasize on the relationships that are formed between the leader and follower on account of various exchanges (Burns, 1978 cited in Wheatley, 2010). In 1978, according to Hollander he theorised this leadership as to have various dynamic processes. These were mainly in relation with the leader and follower and the interpersonal interactions among the two. These leaders were responsible to give clear instructions. They would reciprocate with the follower and respond to them appropriately. This in turn increased the leader’s influence on them (Hollander, 1978 cited in Wheatley, 2010). These leaders rewarded and gave the followers acknowledgement when the expectations or the goals were met. These leaders mainly negotiate and their roles and responsibilities and there is mutual respect and influence. According to H eifetz in 1994, these leaders influence their followers and they are also under the followers as it is a reciprocal relationship. According to Burns 2003, leaders who are involved in both the simple and complex situations and they try to achieve the organizational goals (Wheatley, 2010). Last borns are considered as saviours of their family as they give more emphasize to the accomplishments and achievements of their older siblings and this gives them a sense of position of esteem and significance (Stewart et al, 2001). They tend to lack in maturity as they have been pampered by their mothers more often. Since they are given more attention by their mother their extraverted ego is being fed and this is a reason they are considered to be more creative (Nakao et al, 2000 cited in Collins, 2006). According to the transactional approach there exists and active relationship among the leader and follower where they are seen to influence one and another. The leader generally gives rewards to the follower and tries not to use authoritative measures (Wheatley, 2010). Younger siblings are described as being co-operative and outgoing. Investigations have also confirmed that middle born and last born are socially adept as compared to the older siblings (Coleston, 2008). According to the above literature review it was seen that the last born are seen more co-operative as compared to the older sibling who is more authoritative. Hence, the hypothesis that â€Å" Last born will be higher on Transactional Leadership style than First born† was formulated. Laissez Faire Leadership style The laissez faire leadership style is extremely the opposite of the other two leadership styles that are active. This is mostly linked to negative outcomes where there is low motivation seen by the leaders (Wheatley, 2010). There is an absence of any kind of Transaction (Wheatley, 2010).They are very passive leaders (Yammarino Bass, 1990; Yammarino, Spangler Bass, 1993, in Hartog et al 1997). These leaders generally avoid the decision making of the team. They also avoid supervising and taking up this responsibility. First-born when compared to last born children and middle children found that they are more socially adept than the rest. It was seen that the first born and only children had similar traits. They tended to be more self-confident, conscientious, responsible and less empathetic. The younger siblings were seen as rebellious and risk takers (Coleston, 2008). The first born children help to mentor their younger siblings. They tend to be good caretakers. The parents give more attention to the first born as compared to the last born. The last born generally don’t take up responsibilities as the older sibling most often does that for them ( Kluger, 2011 cited in Murphy, 2012) According to the above literature review it can be first born will be more confident and responsible as compared to the last born. The will take up initiative and not rebel as compared to the last born. The laissez faire leadership is one where there is no supervising or responsibility taken. Hence, the hypothesis â€Å" Last born will be higher on Laissez faire leadership style as compared to first born† was formulated. 2.3. Summary The given chapter included a detailed literature on the variables that are studied. The hypotheses that were formulated were based on the reviewed literature and were hence inferred.

Eighteenth Century Ballooning :: European Europe History

Eighteenth Century Ballooning       In a time where the skies are full of aircraft, it is hard to    imagine a time when air travel was nothing but a dream. That was    just the case during the early eighteenth century. The dream of flight    was so concentrated on winged flight that ballooning was actually and    accidental discovery. The shift to alternate opportunities to fly    occurred in 1766 with the discovery of hydrogen. Henry Cavendish    discovered the gas he coined the â€Å"inflammable gas.† At that time this    meant that the gas was highly combustible, unlike today’s    interpretation of inflammable. What made this gas so important was    the fact that the gas was much lighter than the atmosphere. The    lighter gas would give the balloon lift in the surrounding atmosphere,    hopefully taking a human along with it. The new discovery brought a    lot of excitement to the pursuit of air travel. The discovery began to    move forward in 1774 with Joseph Priestly’s publication of    â€Å"Experiments and Observations with Different Types of Air.† This    paper explored uses of the gas and further explained its properties for    future experimentation. In 1777, the paper was translated into    French and read by Joseph Montgolfier. The paper inspired    Montgolfier to further explore the possibilities of the gas. Montgolfier    and his brother Etienne began experimenting with the gas in hopes of    coming up with a device to give them flight. This became a reality in    1786 when the two brothers were able to fly small cloth and paper hot    air filled balloons. This was the small and modest beginning to hot air    balloon flight.    The brothers had some complication to work out with the first    flights being experimental. They used dense smoke from burning    chopped wool or damp straw to lift the balloon. The smoke idea most    likely came from a concept left over from the medieval times. They    believed that smoke had more of a virtue of lightness, and lighter    meant that the balloon had a better chance of flight. Another    possibility is that the brothers believed that the dense smoke would    simply be better contained in the balloon. Some individuals even    believe that the brothers used thick smoke to conceal their ideas.

Apollo Group Essay

The Apollo Group was founded by John Sterling, a professor at San Jose State University, in 1976. They are a for-profit educational provider that specializes in educating working adults. The Apollo Group has many subsidiaries both domestic and abroad. The University of Phoenix- the largest private university in the United States Institute for Professional Development- a consultant service that provides private colleges and universities in the US with adult education program development, administration and management support The College for Financial Planning Institutes- a national leader in providing financial services education the and certification to people and companies in the financial services industry Meritus University- an online university with degree programs in Canada Apollo Global Inc- a partnership with The Carlyle Group that invest in international education services in various countries The University of Phoenix is their main subsidiary and has an enrollment of over 550,000 students. They provide undergraduate, masters and doctorial programs both online and at on-campus locations in 40 states. Since the University of Phoenix is a for-profit educator, they recognize their students as customers and have tailored their business to fit the educational needs of their customers. Their programs are geared toward working adults; they are able to educate their customers at a rapid pace with low overhead. They have simple online platforms that are easy to use and their on-campus locations consist of basic classrooms. Since their primary customers are working adults and commuting students, they do not invest in building dorms, student unions or recreational facilities at these on-campus locations. Current Issues While this business model has been profitable for Apollo Group, there are some concerns that will force them to adjust their plan. Because of the perception that online classes are ineffective, and proprietary colleges and universities are degree factories that are not providing a quality education, prestigious universities are sticking with traditional programs. This perception is shared by potential students and their employers. Apollo needs to improve the reputation of their brand. The federal government has put some regulations in place to ensure that proprietary educators are educating students and not pushing them through their programs and granting degrees to create a revenue stream from federal financial aid and student loans. The Gainful Employment Rule- If programs fail the three test of gainful employment three times in a four year span they will not be eligible to receive federal financial aid dollars. The 90/10 Rule- If the institution get more than 90% of its cash revenue from student loans, the institution cannot participate in student federal loan programs. Student Loan Defaults- The federal government sets a three year default limit on cohorts of students. If the students’ loan default rate of the cohort drops below the limit, the institution cannot participate in student federal loan programs. In addition to the negitive reputation and government regulations, the Apollo Group is facing competition from both traditional and proprietary educators. As the technology increases, more schools are investing in their distance learning programs. Apollo will need to find a way to differentiate themselves from these institutions. Recommendations I think the Apollo Group should leverage the relationships that their other subsidiaries have built with their clients, as well as the ones their professors have with their employers, to get input on redesigning their degree programs. If done properly these programs will set industry standards and change the reputation of the University of Phoenix. These redesigned programs should create more employment opportunities for their graduates and help them pass gainful employment test. Working with major corporations to create these programs and gaining their public endorsement will give them an advantage over their competitors. While their business model does not include the extra amenities of a traditional university, the University of Phoenix needs to invest in career counseling and job placement services to help their students find good jobs, this will increase the likelihood of being in compliance with federal regulations. They should also develop a business case showing how the 90/10 rule will cause them to deny enrollment to low income students and petition elected officials who serve low income areas to modify some of the federal regulations that they are governed by. Wall Street Metrics As of this writing, The Apollo Group, with a ticker symbol of APOL is trading at $20.83 per share. Its 52-week high was $29.47 and its low was $15.98. It has a P.E. ratio of 8.54% compared to 24.38% of the S&P 500 and 36.39% for the sector. Its dividend yield is 0 compared to 1.85 of the S&P 500 and 2.14 of the sector. It has a Beta measurement of 0.70. Based upon my analysis, I would not currently purchase this stock. Post Script The University of Phoenix recently had some trouble retaining their accreditation. A peer group with The Higher Learning Commission, a member of the North Central Association of Colleges and Schools, recommended that they be put on probation. â€Å"Specifically, the review team concluded that the University of Phoenix has insufficient autonomy relative to its parent corporation and sole shareholder, Apollo Group, Inc., to assure that its board of directors can manage the institution, assure the university’s integrity, exercise the board’s fiduciary responsibilities and make decisions necessary to achieve the institution’s mission and successful operation.† 1 The Apollo Group was able to work with the HLC’s Institutional Actions Council First Committee to retain its regional accreditation, but that the university will be placed on â€Å"notice† for two years. In efforts to retain students by reducing the cost of tuition, the university has created a scholarship reward program that gives eligible undergraduate degree students up to $10,000 in tuition reductions. They also instituted a tuition freeze so students will not have tuition increases as long as they are consistently enrolled in classes.