Genetically Engineered Crops: The Benefits Outweigh the Risks Essay

In order to understand the controversy of genetically engineered crops one must understand what genetic engineering or genetic modification is: â€Å"GMO are organisms that are generated by combining genes of different species using recombinant DNA (rDNA) technology. Resulting organisms are then said to be transgenic, genetically engineered or genetically modified (GM). This group of organisms includes... plants.† (Celec et al., 2005) The genetic modification of crops and plants was created so that crops could, â€Å"... protect themselves against insects and disease, to feed and vaccinate people at the same time, to flourish in poor soil and drought, or to improve the quantity and bioavailability of individual nutrients.† (Roberts, Struble, McCullum-Gomez, Wilkins, 2006). These benefits may seem to outweigh the risks and in reality they do, however this does not mean the consumer should not be notified of the risks they are taking. The hallmark of our free society demands that the consumer be able to choose whether or not they want to eat something that may have health risks product labeling that identifies GMO ingredients allows for consumers to choose a particular product while ensuring that the producer feel more at ease with the way they disclose information and promote their product. Genetically engineered crops have many risks ranging from mild to serious. The risks of food allergy is one more serious factor. â€Å"There are risks not only from the parent crop, but in addition the new transgenic product can be an allergen.† (Celec et al., 2005) The risk of food allergens from genetic engineering is evident in this case with Brazil nuts and soy beans. In this case genetically modified soy beans had been given a protein from Brazil nut... ...base Ehrenfreund, M., Wheat With Engineered Gene Demonstrates Challenges for Researchers. (2013, May). Retrieved November 14, 2013, from www.washingtonpost.com Guidance for Industry: Voluntary Labeling Indicating Whether Foods Have or Have Not Been Developed Using Bioengineering; Draft Guidance, (2013, August). Retrieved November 15, 2013, from www.fda.gov Kaya, I. H. (2012). Genetically modified crops and human health. Journal of Animal and Veterinary Advances, 11(19), 3613-3617. Retrieved November 20, 2013, from Medwell Journals database. Roberts, K. S., Struble, M. B., McCullum-Gomez, C., Wilkins J. L. (2006). Use of a risk communication model to evaluate dietetics professionals’ viewpoints on genetically engineered foods and crops. Journal of the American Dietetic Association, 106(5), 719-727. Retrieved November 15, 2013, from ScienceDirect database.

Leader case study on Steve Jobs Essay

Question 1 EXPLAIN HOW EACH OF THE FIVE ELEMENTS OF OUR DEFINITION OF LEADERSHIP APPLIES TO STEVE JOBS LEADING APPLE? As defined by Mr. Achua; leadership is the influencing process of leaders and followers to achieve organizational objectives through change. He defined effective leader to be someone who have the five elements of leadership as mentioned in the above figure. Mr. Steve Jobs has been a good example of being an effective leader for Apple. The five elements in his personality are discussed as follows; _INFLUENCE_ Influencing is the process of a leader communicating ideas, gaining acceptance of them, and motivating followers to support and implement the ideas through change. Mr. Jobs has been a perfect example for this element. He has influence not only his employees as well as his customers by bringing innovative products that his customers want. According to the case the people who left Apple says though Jobs hogs the credit but they’ve never done better work. This is how influenced his people from him. They were loyal and gave Mr. Jobs great respect. _ORGANIZATIONAL OBJECTIVES_ Effective leaders influence followers to think not only of their own interests but also of the interest of the organization through a shared vision. Mr. Jobs didn’t think about his own interests while working in Apple, the example of him hiring John Scuelly to bring professional management into power in place of himself is a prove, that he wanted his company to grow. It was his vision that made the companies he worked for a success. _CHANGE_ There is no doubt if it is said that change was the most important element that Mr. Steve had for being an effective leader. Apple has been a perfect example of change and it was only possible because of Mr. Jobs. Discussing the company’s â€Å"think different† advertising campaign, Isaacson writes, â€Å"They debated the grammatical issue: If ‘different’ was supposed to modify the verb ‘think,’ it should be an adverb, as in ‘think differently.’ But Jobs insisted that he wanted ‘different’ to be used as a noun, as in ‘think victory’ or ‘think beauty.’ † This shows that he always wanted to be different and unique. Bill Gates also said that Jobs did things differently and it’s magical. According to the case; Jobs wanted to bring about change, took innovative risk.[1: http://www.newyorker.com/online/blogs/comment/2012/10/apple-after-steve-jobs.html] _PEOPLE_ Leadership is about leading people. As per the case Jobs had been a controversial figure in business. People who have worked for Jobs over the years have mixed reactions to his leading people. Some call him temperamental, aggressive, tough, intimidating, and very demanding. He has been known to verbally attack people who make mistakes and are not meeting goals and expectations. Yet, employees who perform up to expectation are well rewarded. Even many who feared him also had great respect for him as he did inspire loyalty, enthusiasm, and high levels of performance through continuous innovation. Even people who left Apple say it’s often brutal and Jobs hogs the credit, but they’ve never done better work. Hence they intend to follow him. _LEADER FOLLOWERS_ An effective leader needs to share his ideas and listen to others and implement their ideas to be effective. It is due to Mr. Jobs good training that Apple is still working well. When Mr. Job was sick back in 2004 and  2009, Mr. Tim Cook (present CEO of Apple) was given his position and through Mr. Jobs guidance he ran the company. He made his follower the next leader and trained him well for the job. According to the case while working with the design team, he used to take input from the followers into what is designed and how. Mr. Jobs always inspired loyalty, enthusiasm and high levels of performance through continuous innovation from his followers. QUESTION 2: IDENTIFY LEADERSHIP ROLES PLAYED BY JOBS AS CEO OF APPLE. WHICH ROLE WAS THE MOST IMPORTANT? Figure 1: Leadership Managerial Roles by Henry Mintzberg The traits of all managerial roles defined by Mintzberg can been seen in Mr. Jobs being the leader of Apple. But the most important role that he played was being an entrepreneur that comes under decisional role. Following are the roles that he played while leading Apple; _FIGURE HEAD_ Mr. Jobs performed the figurehead role for Apple when he used to represent the organization. He used to make announcement for the launch of products, interacted with the customers. Signing official documents, entertaining clients or customers as official representatives. He used to give live interviews. He also used to informally talk to people and attend outside meetings as an organizational representative. _LEADER_ Mr. Jobs played the leader role that is of performing the management functions to effectively operate the managers’ organization unit. According to the case he made decision for hiring professional management. He used to do coaching and give instructions to design department specifically. He used to confront people if the performance of employees falls but also used to  reward them if they performed well. _MONITOR_ Mr. Jobs performed the monitor role when he used to gather information for innovative products, to discover problems and opportunities, and to understand events outside the organizational unit. He was a perfectionist. He used to monitor everything very closely. According to the case he was obsessive CEO who wanted his product to be practically perfect in every way. He was the one who stop the launch of one of Apple right before the launch date to be sure it’s perfect. _DISSEMINATOR_ Steve also played a disseminator role when he used to work with the design team. When some information needed to be transferred to the employees. When Mr. Cook become active CEO in 2009, Steve used to make decisions and convey them to him to bring it into action. _SPOKESPERSON_ Mr. Steve was a great spokesperson for Apple. He used to interact with people outside organization through seminars, meetings and interviews. The reason why people know him really well is, he used to speak to the public on behalf of Apple. _ENTREPRENEUR_ Steve Jobs is one of the best entrepreneurs. Through self-assessment he realized that his strengths was in developing new products. He believed the future of Apple depends on the frequent product introduction and transition. His vision for Apple made him a great entrepreneur. Bill Gates also called him to be visionary with intuitive taste. He does thing differently and it was magical in the eye of Bill Gates. _DISTURBANCE HANDLER_ Steve performed the disturbance-handler role of leadership when he took corrective action when the company was about to get bankrupt. According to the case Jobs saved the company in a way that is not seen in the history of Silicon Valley. Hence it proves him being a disturbance handler. _RESOURCE ALLOCATOR_ Steve was also a resource allocator when he used to appoint people in teams and to work they were good at. He allocated Sculley to be the CEO is an e.g of resource allocator. _NEGOTIATOR_ He was a great negotiator. He used to make people convince about his ideas. People were so influenced by him that they said none of them has done better work than him. One of the reason was he was a good negotiator. QUESTION 3: WHICH LEVEL OF ANALYSIS IS THE PRIMARY FOCUS OF THIS CASE? The primary focus of the case is to have an analysis of oneself i.e self-assessment. Discovering what a person is good at can make him reach high targets of life. As Steve Jobs did his self-assessment and did it right he knew he was good at making new and innovative products, so he focused all his attention in doing this job which made him succeed. Doing the job you enjoy and are good at is the key for career development and reaching the top of success ladder. He had a clear vision in his mind for himself and Apple which made him a great leader. So doing self-assessment and having a clear vision is the primary focus of this case. QUESTION 4: EXPLAIN HOW EACH OF THE LEADERSHIP THEORY CLASSIFICATION APPLIES TO THIS CASE, AND WHICH ONE IS THE MOST RELEVANT? A leadership theory is an explanation of some aspect of leadership; theories have practical value because they are used to better understand, predict, and control successful leadership. Leadership theory classifications include trait, behavioral, contingency, and integrative. Following is the explanation how all these apply to the case; _LEADERSHIP TRAIT_ theories attempt to explain distinctive characteristics accounting for leadership effectiveness. Researchers analyzed physical and psychological traits, or qualities, such as high energy level, appearance, aggressiveness, self-reliance, persuasiveness, and dominance in an effort to identify a set of traits that all successful leaders possessed. According to the case Steve Jobs was also a person he was aggressive, very demanding, tough and intimidating. He always showed high level of energy. _BEHAVIORAL LEADERSHIP_ theories attempt to explain distinctive styles used by effective leaders, or to define the nature of their work.Mintzberg’s ten managerial roles are an example of behavioral leadership theory. This theory applies in the case by discussing different examples that showed Steve Jobs to be an effective leader. As discussed in the question # 2, Steve had showed almost all the managerial roles of being an effective leader when required. He had been an entrepreneur by introducing innovative products. He has been a spokesperson and a figure head for Apple. A resource allocator when he gave the CEO position to Sculley. A leader when he had to launch new products in a perfect way. A disturbance handler when he retrieve Apple back to the place that it deserved and so on. _CONTINGENCY LEADERSHIP_ theories attempt to explain the appropriate leadership style based on the leader, followers, and situation. In other words, which traits and/or behaviors will result in leadership success given the situational variables. Again Steve Jobs example has been used in this case to explain the contingency leadership. When he changed the culture back to entrepreneurial atmosphere. He was the man who had clear vision and  understood the requirement of time and worked accordingly. Another example that the case discuss is when he launch Pixar when working with NeXt. _INTEGRATIVE LEADERSHIP_ theories attempt to combine the trait, behavioral, and contingency theories to explain successful, influencing leader-follower relationships. Researchers try to explain why the followers of some leaders are willing to work so hard and make personal sacrifices to achieve the group and organizational objectives, or how effective leaders influence the behavior of their followers. In this case it is seen when people though were not given credit of work yet followed Steve and trust him blindly. He made his followers grow and they were loyal to him. After discussing all the theories, I believe that the most relevant theories to this case and Steve Jobs is _Integrative leadership_. The reason being that it contains all the rest of theories including leader – follower relationship that can be seen in Steve Jobs. The case mainly highlight _Trait and Behavioral leadership theories_ aspect in Steve Jobs personality however if he is studied in detail the Integrative leadership theories can be best applied to him. QUESTION 5: WHEN STEVE JOBS LEAVES APPLE AGAIN, WILL APPLE’S PERFORMANCE DETERIORATE AND GO BACK INTO A CRISIS OF NEAR BANKRUPTCY? WHY OR WHY NOT? As everyone knows that Steve Jobs expired in Oct 2011, it has been 2 years that Apple is performing under Mr. Tim Cook leadership. According to the present position of Apple in the world being the best company, it can be said that Apple performance has reminded the same. One of the reason could be Steve being a great leader trained his followers so well that it help the present management to sustain Apple position in market. Mr. Tim had been the CEO for Apple when Steve was sick and on leave. He made decision on behalf of Steve under Steve observation. So he has been trained to be the CEO and hence replaced Steve in a good way. However it won’t be wrong to say that the punch of innovation and bring new products in the market is missing be  the company has introduced improved versions of the products that Steve Jobs introduced. As people are so hooked up with Apple products it helps the company to sustain its position. But if the company doesn’t introduce something new soon its performance can be effected. As Apple is known for its innovation. The company recently launch Apple Map App but it was a failure. The perfection element that Steve products used to have was missing in it and Google maps were much better. But if we talk about financial performance then yes it has improved after Steve Jobs as well.

Dual Route Adult

Sample details Pages: 12 Words: 3715 Downloads: 6 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Evidence of dual route model in adult reading Introduction Dual route model is the study that defines the changes in the mode of interpreting printed words to sound. Therefore dual route model is associated with the study of reading and spelling and the various assumptions that arise out of the investigation. These assumptions highlight the fact that the processing of the written language is always accomplished by two separate methods called the lexical and non-lexical routes. Don’t waste time! Our writers will create an original "Dual Route Adult | Psychology Dissertations" essay for you Create order These two methods are interactive in nature. Reading and spelling in the lexical method always depends on the creation of word specific orthographic and phonological memory representation. All the current models of word recognition are based on either the dual route models or connectionist theories. The way a word recognition model accounts for different types of reading behaviours, is the word of success of every model. The dual model theory has withstood most of the tests associated with reading behaviours. However some psychologists do not agree with this theory, instead they suggest a combination of dual as well as other models for deriving positive results in the field of reading behaviours. A number of psychologists have researched in this field and published their results. Prominent among them is the study reports of Coltheart and Bates, who have demonstrated that an equation derived from dual-route theory accurately predicts reading performance in young normal readers with reading impairment due to developmental dyslexia or stroke. Studies conducted by John Marshal also have much significance. Marshal concentrated on the fact that the method of skilled reading can be used, particularly the dual route model, for interpreting acquired dyslexia as well as developmental dyslexia. The basic concept of the dual model explains that non words and irregular words are two independent routes that lead from the written word to the noise. There is also the direct access route which is also known as the lexical route. This route deals with the pronunciation of irregular words. In this method reading is always continued through the lexicon for the purpose of pronouncing words correctly. Then there is the Grapheme phoneme conversion route which is also called the sub lexical route. In this route reading is continued without accessing the lexicon. All regular words and irregular words should be read from the lexicon, this is the suggestion given by the dual route model. A strong judgement in this regard is that the steadiness of the word always effects the periods it takes to name it. Moreover there is also a relation with its rate of recurrence. Low recurring words are more affected than high recurring words. Some words having the same frequency are not made similar, particularly inconsistent words. Moreover regular words are sometimes pronounced irregularly. According to experts a simple dual route model cannot explain all these outcomes. A dual route model can be used for the prediction of real words though the lexican route. However we can see that steadiness, rate of recurrence and uniformity effects reaction times. The suggestion that non words are read by the GPC route is not correct. Strong findings suggest that non words processing s are affected by the lexicon. Previous normal reading process of a person is affected by the impact of acquired dyslexia the affected person will suffer some kind of a shock in the left side of his brain. In this case the dual route model predicts a double disassociation. With respect to surface dyslexia, a person makes over regularisation mistakes for irregular words. The person can read words and non words if they are regular. The person will not show any case of image ability. This is due to the fact that the route remains undamaged. Another type of dyslexia which is commonly found is the Phonological dyslexia. In this situation, patients are poor to read non words. Moreover real words are easily read. Experts suggest that, here the GPC route may be damaged and the lexical route is undamaged. It is often argued that the Phonological dyslexia and the surface dyslexia are separate. They do not associate themselves. Therefore the dual route model is supported. But in other types of dyslexia the situation can be more complicated. Another type of dyslexia is the deep dyslexia. This type is characterised by poor reading of non words, semantic reading mistakes for real words, and problems associated with the GPC route. Moreover the patients under this category have an injury to a system which usually allows them to read through a semantic system. This type of dyslexia cannot be regarded as a syndrome. But in some circumstances it has to be regarded because evidences support it. Another point of argument about this type of dyslexia is that it may be a result of reading using the right hemisphere of the brain. There are assumptions that this type of dyslexia is a syndrome which is caused by a wound in the left hemisphere. If that is correct then the conclusion should be that reading is possible through semantic system in such a way that the dual route model cannot be taken into account. According to psychologist Knight R.A from his journal article titled, Language, history and use, there are alternatives to the dual route model also. They are the three routes model, Analogy theories and the Connectionist models. In the three route model, the lexical route is split into GPC route, the route through lexicon and the route direct from the lexicon. Analogy theories are single route theories. a major drawback of this theory is that it is sometimes unpredictable regarding the pronunciation of non words. The connectionist models are single route theories where there is no storage for individual words. The drawback of this model is that it also fails to predict the pronunciation of non words (Knight, Language History and Use). The dual route model has become a standard model for both normal as well as abnormal reading of adults. There is very strong evidence that there is twofold disassociation of phonological and surface dyslexia in the dual route model. The dual route model had assumptions that the conversion of grapheme-phoneme depends on a theoretical set of rules which is similar to the plans in a logical system. Other models of normal and abnormal reading development were developed on the basis of the dual route model of mature reading. The dual route theory is a very comprehensive theory. It explains both normal and abnormal adult reading and as well as normal and abnormal reading development (Pennington, 2002, p.292). In the semantic system, spoken as well as written words always turn on mechanically the matching theoretical representations. All familiar words used whether they are customary or non customary can be processed through the lexical route. This is possible in terms of their letter indicated by sound relationships. However the non lexical route makes use of the sub word level process which is based on the sound- spelling association rules success of non lexical route always depends on non words and regular words that is always associated with the English phoneme grapheme conversion laws but when there is irregular words which does not obey these set of rules, it fails to produce a correct response. All the efforts undertaken to read or write through non lexical method can result in regularization mistakes. Studies by psychologists Rapcsak, Henry and others revealed that dual route model contains purposeful mechanisms that are exclusive to both the lexical and the non lexical routes but no one can say that the two procedures are totally independent. Dual route theory always maintains that lexical route will help in delivering a true response for irregular words. The non lexical route is essential for the reading and spelling of non words correctly. For the interpretation of the written language of persons having acquired alexia / agraphia, dual route models have provided a powerful hypothetical structure. It is possible to identify the damaged cognitive module of neurological patients by specifying the practical architecture of the written language processing system. For example, the destruction that is caused to the lexical route will give rise to surface dyslexia distinguished by disproportionate complexity in reading and spelling irregular words. However damage to the non lexical route will result in phonological dyslexia, distinguished by very poor reading and spelling of non words. Apart from all these applications, dual route theory can also be used for producing quantitative predictions related to reading and spelling. It is possible to predict the accuracy of a persons and the performance on irregular words as well as non words. The basic concept of dual route models is that using lexical method irregular words can only be read correctly whereas by using non lexical strategy non words can be read correctly. The capability of lexical and non lexical routes are proved when a person will be able read accurately proportions of irregular words. According to dual route theory, both the lexical and non lexical route can process regular words and therefore the accuracy of reading can be predicted (Rapcsak, Henry, Teague, Carnahan Beeson. 2007. p.2519-2524) A study conducted by John marshal, another renowned psychologist in the year 1984 clearly emphasised that the fact that the method of skilled reading can be used, particularly the dual route model, for interpreting acquired dyslexia as well as developmental dyslexia. This claim became controversial and many other researchers argued that the dual model is quite in appropriate in the way to understand development in reading and developmental disorders in reading. However further research in this area by psychologists Castles, Bates Coltheart revealed that John Marshals claim was true (Castles, Bates Coltheart. 2006. pp. 871-892 (22)). Many researches have been undertaken for checking the effectiveness of dual route model. The dual route cognitive models of reading assume that the lexical and sub lexical routes are functionally different processes. Researchers Joubert, Beauregard and others have tested this hypothesis by using three experimental conditions. One of them was lexical and the other two were sub lexical. Frequent words represented the lexical condition whereas in the first sub lexical condition was represented by non words made of low frequency sub lexical units. These words did not resemble real words. Rare and regular words consist of the second condition. Comparisons were made between these reading tasks with a baseline condition which consisted of consonant string viewing. Moreover silent pronunciation of one or two of these consonants was also done along with this process. By analysing the results of this experiment it was found that the lexical condition which consisted of regular words generates many different peaks of activations in the border area of the left super marginal region. Whereas the other two sub lexical tasks were engaged always in the area of the left prefrontal inferior cortex (Joubert, Beauregard, Walter, Bourgouin, Beaudoin, Leroux, et al. 2004. p. 9-20). Renowned psychologists Hanley and Gard advocated that developmental surface dyslexia appears in adults. They took reading and spelling tests on two adult students and the results varied. Both these adults were affected significantly by spelling regularity. The psychologists arrived at the conclusion that the irregular words are harder to study that difficult ones, therefore a person is forced on to depend on lexical strategy during the course of reading (Funnel. 2000. P.138). The dual route models have always come under attack in recent years the theories framed by dual route experts are not always effective in adults. Most of the criticisms in the dual route model have come in the field of adult readings. As a result of criticisms levelled against dual route models, connectionists models were developed (Treiman. 1993. p.34) Studies made on languages which were opaque suggested that the lexical and non lexical processing consists of independent routes. Where as in the case of transparent languages, there is no strong evidence for independent routes. The dual route in transparent languages like in opaque languages has created an arena for discussion. By studying the neurologically damaged patients who are unable to read unknown words or non words, the existence of these routes can be seen clearly (Plasencia, Dorado Serrano. 2008. p. 48 -54). According to a study conducted by two well known psychologists, Castles and Coltheart, process deficit models of disability became popular due to the developmental problems associated with reading disability associated with brain damages. The reasons for the popularity of the process models is because of the simplicity of its framework moreover the approach of a process deficit model gives a basis for a logic of instructions stuck by the strength and weakness of the readers. But unfortunately many researches have failed to provide evidences that support process models. The fact stated in the process model that disabled readers can be categorized into distinct types and the diagnosing task of distinguishing disabled readers from the poor readers has no supportive evidence (New Directions in Research, 2006). In another experiment by Bertelson, two hypotheses were tested with relation to the development of access towards lexical meaning. They were initial indirect access and initial direct access. Conclusive proof relating to the testing pointed out that these hypotheses were not strongly supported. And it also recommended that the direct and indirect access could be used for early reading. The involvement of these procedures always changed during its course of development. The previous assumption about standard dual model was that both accesses assumed the basic theoretical tests, went wrong. Based on evidence derived from these tests, the standard dual route model was always criticised. Instead of the standard dual model, a single model was found suitable (Bertelson, 1987. p.113). The dual route cascaded model is a computational model related to visual word recognition and loud reading. It is the only computational model that is used to perform the two tasks i.e., lexical reading and aloud reading. The DRC model has its own limitations. A common claim attributed to this model is that it can explain everything. But this claim becomes false as far as the case of reading aloud and visual lexical decision is concerned. With various paradigms that are masked, facts suggest that phonological properties of very temporarily presented stimuli can influence performance in reading aloud and lexical decision tasks. The dual route cascading model or the DRC model is used for pronunciation computing from print through lexical and non lexical procedures. Non words cannot be read correctly under the lexical procedure because they are not present in the lexicons. (World Recognition Process in Reading. 2005). Many studies have been undertaken to prove the effectiveness of the dual models. In one study done by psychologists Basso, Burgio and Prandoni, of the neurological clinic, Milan University, a group consisting of 21 people were selected having specific disorders and treated with a dual route model. Another group consisting of 23 persons were treated with methods using single route models. By comparing the treated patients from both the groups, it was found that the first group treated with the dual method showed significant improvement than the second group in many areas. But the benefits received from reading of isolated words, homophones etc did not improve the reading of passages. This suggested that treatments using dual models should include exercises containing passages or sentences (Tressoldi. 2000). In another test, persons who did not have previous knowledge about French were asked to learn 12 French words. After getting their representations, they were given pictures and were asked to write the baseline. This experiment was repeated for three times. After 10 minutes these pictures were presented again and were asked to write words. After a week, these participants were again requested to do the same exercise. The results showed significant difference. The out come was that when irregular orthographic representations are acquired, it is supported by knowledge of orthographic representations (BASSO, BURGIO, PRANDONI. 1999.p.405-412). Arguments against dual route model theories. Connectionist modelling techniques have spawned the debate between single and dual route accounts of the cognitive process. The necessity of dual route processing accounts in the psychology of the language has been questioned by connectionists models. Some psychologists have also suggested that a single route model is enough for the learning of past tense formations and idiosyncratic formations which are rule based. It is also sufficient to learn rule based method of pronunciations and idiosyncratic pronunciations. Basically there are two types of criticisms that are levelled against the dual route models. The first one is that morphology is the rule which directs association of the bilinguals lexical representations. It is argued that morphology can alone produce clear effects of independence in a sole undifferentiated structure. The second criticisms said about the dual model are that the word recognition in one language may be assisted if it is similar to a word in another language. Connectionist modelling techniques have spawned the debate between single and dual route accounts of the cognitive process. The necessity of dual route processing accounts in the psychology of the language has been questioned by connectionists models. Some psychologists have also suggested that a single route model is enough for the learning of past tense formations and idiosyncratic formations which are rule based is also sufficient to learn rule based method of pronunciations and idiosyncratic pronunciations. There are also other types of criticisms that are levelled against the dual route models. The first one is that morphology is the rule which directs association of the bilinguals lexical representations. It is argued that morphology can alone produce clear effects of independence in a sole undifferentiated structure. The second criticism said about the dual model is that when motivations show some kind of resemblance between two languages, the necessity of word recognition arises. Moreover cross language meddling is found even though there is clear proof for independence of lexical presentations (Thomas, Bilingualism and the Single route). Conclusions Connectionists theories have originated as a result of the debate between single and dual route models in the area of language processing. The debate between single route and dual route has often arisen when the necessity of postulation of a rule based processing mechanism that would motivate aspects of cognition. The fundamental problem here is that all rules have exceptions and all processors based on rules should have an exception mechanism to accompany it. The other side of this debate between dual and single model is that whether there is necessity to postulate one or two realistic processing mechanisms to motivate a given cognitive ability. Dual routes are not effective in all areas, particularly in the field of bilingual word recognition. To those areas where dual theories are insignificant, it is wise to work with connectionists models which are regarded as an exiting prospect. Single route models when compared with dual route models should overcome many hurdles to get accepted. However they can be used in situations where dual route models fail to produce results. The single route models always characterise stimulus response compatibility effects to the difficulty of transaction from stimulus to response whereas dual route models suggest that compatibility effects reveal in part an extra direct or routine creation route. In consistency is one of the major drawbacks suffered by these models. Form the outcomes of studies undertaken; it is evident that the DRC model can stimulate the reading aloud task as well as the lexical decision task. The stimulation given by the DRC model to these tasks cannot be matched by any other models. Therefore the DRC model is regarded as the most successful computational model discovered so far in the field of reading behaviors. Nowadays word recognition models are constructed on the basis of dual route as well as connectionist models. Dual route has its own advantages and limitations in adult reading. In cases where dual method is not effective, connectionists models can be used. Or a combined format can be used. Combination of these two models will always give satisfactory results in word reading. (Shinoda. 2005). References BASSO, A. , BURGIO, F. PRANDONI, P. 1999. Acquisition of output irregular orthographic representations in normal adults: An experimental study. Retrieved from https://journals.cambridge.org/action/displayAbstract;jsessionid=0B6AC8EC3378DCD2C42DFE0963CBF5B3.tomcat1?fromPage=onlineaid=49571 on August 23, 2008. Bertelson, P. 1987. The Onset of Literacy. Cambridge: MIT Press. Castles, A.,Bates, T., Coltheart, M. 2006. John Marshall and the developmental dyslexias. Aphasiology, Volume 20, Numbers 9-11, -11 pp. 871-892(22). Retrieved from https://www.ingentaconnect.com/content/psych/paph/2006/00000020/F0030009/art00004;jsessionid=kldvo0vfe03v.alice?format=print on August 22, 2008. Funnel, E. 2000. Case Studies in the Neuropsychology of Reading. London: Psychology Press. Joubert, S., Beauregard, M., Walter, N., Bourgouin, P., Beaudoin, G., Leroux, J.M. et al. 2004. Brain and Language . Vol. 89 9-20. Retrieved from https://www.sciencedirect.com Knight R.A. Language History and Use Psycholinguistics. Retrieved from https://www.rachaelanne.co.uk/teaching/psych/reading_03_HO.doc on August 22, 2008. New Directions in Research. A Transactional Perspective on Reading Difficulties and Response to Intervention. 2006. Retrieved from https://www.reading.org/Library/Retrieve.cfm?D=10.1598/RRQ.41.1.7F=RRQ-41-1-McEneaney_2.html on August 23, 2008. Pennington, B.F. 2002.The Development of Psychopathology. New York. Guliford Press. Plasencia, P.M., Dorado, J.I. Serrano, J.M. 2008. Evidence for Linguistic Deficit in Nonlexical Processing in Reading. A Study of a Spanish-Speaking Patient. The Spanish Journal of Psychology, Vol.11, No.1, 48 -54. Retrieved from https://www.ucm.es/info/Psi/docs/journal/v11_n1_2008/art48.pdf on August 23, 2008. Rapcsak S.Z, Henry M.L, Teague,S.L., Carnahan,S.D. Beeson,P.M. June 18, 2007. Do Dual- Route Models Accurately Predict Reading and Spelling Performance in Individuals with Acquired Alexia and Agraphia? Neuropsychologia Vol. 45(11): 2519-2524. Retrieved from https://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=1988783 on August 21, 2008. Shinoda, K.2005. Speaker adaptation techniques for speech recognition using probabilistic models. Retrieved from https://www3.interscience.wiley.com/journal/110546421/abstract on August 23, 2008. Thomas, M.S.C. Bilingualism and the Single route / Dual route debate. Retrieved from https://www.psyc.bbk.ac.uk/people/academic/thomas_m/Thomas_Cogsci98.doc on August 22, 2008. Treiman, R. 1993. Beginning to Spell. Washington, DC: Oxford University Press, US Tressoldi, P.E. 2000. Treatment of Specific Developmental Reading Disorders, Derived from Single- and Dual-Route Models. Retrieved from https://ldx.sagepub.com/cgi/content/abstract/33/3/278 on August 23, 2008. World Recognition Process in Reading. 2005. Retrieved from https://www.blackwellpublishing.com/content/BPL_Images/Content_store/Sample_chapter/9781405114882/Snowling_sample_chapter1.pdf on August 23, 2008.

Social Hierarchy And The Twisted Lip - 1221 Words

Social Hierarchy and The Establishment of Identity: â€Å"The Man with the Twisted Lip† The short story by Doyle, â€Å"The Man with the Twisted Lip,† is based on disguises of wealth and appearance and how these disguises change the point of view that people have in the social classes and what they think about each other during the Victorian Era. Disguises can be used to create an identity for one’s own personal gain or to protect an individual s identity. Neville St. Claire uses disguise to validate his place as a gentleman. His status as a beggar allows him to become the successful gentleman that he should be, by concealing his true self to the social class system. Sherlock Holmes uses his persona as a protection to keep the people of London safe and out of harms way. Between the two personalities of St. Claire and Holmes is the outcome of what others may think of them; St. Claire knows the identity that he has created is not accepted by the social class while Sherlock Holmes identity is seen as a hero and is accepted by the social class. One uses his d isguise purely for monetary gain and the other uses the identity in order to solve mysteries and protect his city. As shown in the â€Å"The Man with the Twisted Lip†, disguise is only allowed when the social class accepts the identity. Despite the fact that St. Claire and Holmes created new identities through disguise, St. Claire is shamed of his identity while Holmes is respected. Both disguises have various goals. St. Claire hidesShow MoreRelatedThe Man With The Twisted Lip By Sir Arthur Conan Doyle1295 Words   |  6 Pages The short story by Sir Arthur Conan Doyle, â€Å"The Man with the Twisted Lip,† is based on disguises of wealth and appearance and how these disguises change the point of view that people have in the social classes and what they think about each other during the Victorian Era. Disguises can be used to create an identity for one’s own personal gain or to protect an individual s identity. Neville St. Claire uses disguise to validate his place as a gentleman. His status as a beggar allows him to becomeRead MoreA World Of True Blood And Twilight1349 Words   |  6 Pagesthrough her heart. This scene shows Stoker’s choice to over sexualize the novel. Stoker wrote, The Thing in the coffin writhed; and a hideous, blood-curdling screech came from the opened red lips. The body shook and quivered and twisted in wild contortions; the sharp white teeth clamped together till the lips were cut and the mouth was smeared with crimson foam. Stoker uses this scene to convey his overall theme of sexuality within his vampires. Here he depicts the men standing over Lucy, as a vampireRead MoreA Clockwork Orange, by Anthony Burgess and Brave New World by Aldous Huxley 1411 Words   |  6 Pagesused to create social stability. There are also individuals who rebel against this loss of freedom and identity. However, these individuals lose their fight for freedom because of unsuccessful escape methods, acts of violence and effective conditioning. Character in both novels use unsuccessful escape methods to cope with their loss of identity. Alex, the protagonist in A Clockwork Orange, turns to classical music such as Beethoven when his gang members question his hierarchy within the groupRead MoreAnnotated Bibliography On Gender And Sexuality1955 Words   |  8 Pagesinteractions with one another as well as the construction and hierarchy of their relationship. The social anxiety over gender and sexuality in the Victorian era is displayed quite evidently through the internal musings and actions of Jonathan, particularly throughout his interactions with the female vampires at Count Dracula’s Castle: â€Å"All three had brilliant white teeth, that shone like pearls against the ruby of their voluptuous lips. There was something about them that made me uneasy, some longingRead MoreAnalysis Of The Novel Of Mice And Men 1866 Words   |  8 Pagesfor so long that he had been made to live closer with the animal in a room that â€Å"led into a barn† has turned him into an aloof men. 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First, allow me to be clear: At a simplified level, I call this an ethnic allegory because Moby-DickRead MoreTwelfth Night and Pygmalion1783 Words   |  8 Pagesto change place with their superiors. The hierarchy is turned up-side down, to create a state of topsy-turveydom. It is a sort of carnival where it is allowed to drink and play tricks on others, especially the superiors, without getting punished for it. One might call it licensed misrule. This play is full of confusion and intrigues as the characters constantly dress up and act as someone else. It is a inviolability of disguise. Gender shifts and social status are important themes which run throughRead MoreThe Theatre and its Identity Crisis2207 Words   |  9 Pagesthen accepted to be female and people tend to treat me thusly. The days that I decided to run out of the room wearing a shirt and sweats are another matter however. I am tempted to tally how many people stare at my baggy black sweat pants with their lips curle d up with disgust and their eyes bleeding with disapproval of my sloppy choice. It’d made for some amusing statistics. Women shall wear dresses and only men bowties, ladies must cross their legs, men however may smoke cigars, engineering isRead MoreEssay about Theme of Hawthornes Young Goodman Brown3036 Words   |  13 Pagesexchange a parting kiss with his young wife.† The reader receives a premonition of the impending evil intrigue with Faith’s staement of her foreboding, troublesome dreams:    Dearest heart, whispered she, softly and rather sadly, when her lips were close to his ear, prythee, put off your journey until sunrise, and sleep in your own bed tonight. A lone woman is troubled with such dreams and such thoughts, that shes afeard of herself, sometimes. Pray, tarry with me this night, dear husbandRead More The Themes in Hawthornes Young Goodman Brown Essay3172 Words   |  13 Pagesexchange a parting kiss with his young wife.† The reader receives a premonition of the impending evil intrigue with Faith’s staement of her foreboding, troublesome dreams:    Dearest heart, whispered she, softly and rather sadly, when her lips were close to his ear, prythee, put off your journey until sunrise, and sleep in your own bed tonight. A lone woman is troubled with such dreams and such thoughts, that shes afeard of herself, sometimes. Pray, tarry with me this night, dear husband

Okonkwo And Wang Lung From The Good Earth And Okonkwo From...

Compare and Contrast Okonkwo and Wang Lung Wang Lung from â€Å"The Good Earth† and Okonkwo from â€Å"Things Fall Apart† are both very similar characters. They both have a similar story and beliefs, yet they are quite different in regards to how their stories play out and how they value their beliefs in the end. This paper will look at both of the characters traits and stories to examine how they compare and contrast and how it affect them. At first glance, Okonkwo and Wang Lung seem to have no similar qualities at all, In reality they share some important characteristics, but also have distinct differences that makes them different. Probably the biggest similarity between the two is there respect for their culture. When I say culture I am†¦show more content†¦For Wang Lung almost all instances of him being naive are link to his culture’s beliefs. Because Wang Lung always follows his culture even when he does not want to. Okonkwo on the other hand believe that he has to be the opposite of his fa ther. This means he has to be hardworking. The clan also expects him to be a â€Å"man† and perform the duties expected. The combination of him resenting his father and the clan’s expectations is what causes him to be headstrong. Even though â€Å"The Good Earth† and Things Fall Apart† are set in different cultures and at different periods of time, both books have many similarities with difference being caused mostly by the main character’s beliefs and personality. We will start off looking at the similarities. In the beginning of both books we see the protagonist goals which is basically to achieve greater wealth (especially for Okonkwo). Wang Lung is starting to accumulate land from the House of Hwang which in return gives him more land to farm on. He buys land because he sees it as the most important object in his life. Okonkwo is also trying to get more land and crops to increase his status in clan. As you can see everything is going well for th e two, but then disaster struck for them. China has a drought which destroyed harvesting crops for farmers. Unfortunately farming is Wang Lung’s source of income. He also gets raided by his uncle and loses a good portion of property, because he refused to give up his land. WangShow MoreRelatedMasculine Vs. Feminine Power in The Good Earth863 Words   |  4 Pagesprevalent in both Things Fall Apart by Chinua Achebe and The Good Earth by Pearl Buck. These authors intricately weave this idea into their novels through their characters’ specific duties, their characters’ behaviors and emotions, and the way children are viewed and treated according to gender. Both novels are set in the late 19th, early 20th century, but take place in two completely different cultures. Things Fall Apart is set in Nigeria in the village of Umuofia while The Good Earth is set in a littleRead MoreRedefining The Tragic Tragedy Of Chinua Achebe s Famous Things Fall Apart2188 Words   |  9 Pagestragic hero. He claimed that heroes of tragedy must be fundamentally decent, of noble status, and eventually destroyed by a situation that exposes their one tragic flaw. Consider Chinua Achebe’s famous Things Fall Apart: the protagonist of the novel, the once mighty and respected warrior, Okonkwo of Umofia, is the paragon of the Aristotelian definition of a tragic hero. His suicide and loss of power within the tribe is not caused by his negative qualities, but rather his respect to his elders and

The Demographic and Psycho-graphic Market Segmentation Free Essays

The criteria used to develop the market segment for R.J. Reynolds Tobacco Co. We will write a custom essay sample on The Demographic and Psycho-graphic Market Segmentation or any similar topic only for you Order Now †s new brand of cigarette called â€Å"Dakota† is mainly that of demographics, and psyhcographics. The target market in this case appears to be poorly educated, virile white females age 18-20, who enjoy being around their boyfriends and doing whatever their boyfriends are doing, for example going to â€Å"Hot Rod shows, Tractor Pulls, cruising, and going to parties†. This target market was most likely selected for two main reasons. The first is because of the enormous profits to be gained from this particular group and the second is because of this group†s lack of education and low self-regard. The marketing strategies used in this article clearly define demographic and psychographic market segmentation. Demographic segmentation consists of gender, age, income, family size, family life cycle, occupation, and education. The target market in this article consists of females, age 18-20, single, with no more education than high school. This matches most of the criteria for demographic segmentation. Psychographic segmentation consists of identifying certain lifestyles based on the consumer†s values, activities, interests, opinions, and demographics. This article conveys that these women are Strivers, which means they are unsure of self and need approval from others. This group also seems to be search of some type of relief from their current lives (relief seekers). All of this data provides an idea of this groups values as well its activities and interests. Which makes this targeted group so vulnerable to tobacco companies marketing efforts. This market was selected because of its size and growth, and also probably because of this group†s lack of education. This group of females† aged 18-20 are the only group of Americans whose rate of smoking continues to increase. The reason why this group†s rate continues to grow is because they really don†t know better and if they do they really don†t care. This creats a wonderful opportunity for lucrative profits from the tobacco companies. This form of marketing is called concentrated marketing, which focuses on one segment of the market. Marketing companies perform market research by collecting and analyzing data and turning this data into usable information. This Information includes demographics as well as phycographics. These young women already have the desire to consume cigarettes and R.J. Reynolds is making sure they consume their particular brand of cigarettes instead of others. How to cite The Demographic and Psycho-graphic Market Segmentation, Papers

Financial Planning for the Client Case Study

Question: Describe about the Case Study for Financial Planning for the Client. Answer: Executive summary This report is related with the financial planning of the client- Mr Mitch and his wife Jill. Initially client profile will be stated which will include client details, goals and objectives and current financial situation. It will include comprehensive cash flow statement, detailed tax calculations, and a balance sheet based on the couples existing situation. Then Risk profile and investment strategy will be stated. For this purpose interview will be conducted so that risk profile can be created. Further investment recommendation will be stated which will determine one appropriate managed fund under each of the following 4 assets classes: Australian fixed interest; Australian property; Australian equity International equity. On the basis of that recommended strategies will be stated. Personal profile Client Details PERSONAL LIFE Relation Age Mitch Self 30 Jill Wife 28 Tessa Kid 6 Matthew Kid 3 School Age 10 School Cost 12000 Assets Type Value Home Joint 650000 Contents Joint 80000 Cars Joint 60000 Savings- Cash Mitch 12000 Savings- Shares * Mitch 25000 Superannuation Balance Mitch 20000 Superannuation Balance Jill 40000 TOTAL 887000 Liabilities Home Mortgage ** 420000 Car Loan*** 15000 Credit Card-Avg Monthly Bal 4000 TOTAL 439000 Savings- Shares * Shares Cost Price 30000 Purchase Year 2012 Home Mortgage ** Var Interest Rate 5.50% Monthly Repayment 3100 No of years 18 216 Car Loan *** Var Interest Rate 6.60% Monthly Repayment 302 No of years 5 60 Home Mortgage Car Loan Monthly Payment -3067 -294 Income per annum Salary 40000 Net profit from business 130000 Bank Interest 120 Fully Franked Dividends 500 170620 Payments Living Expenses 40000 Mortgage and Loan Repayments 40824 Private health insurance 3200 Professional Membership fees -Mitch 700 -Jill 800 Travel Expenses for work -Jill 400 Tax preparation (50/50) 2000 Donations (50/50) 1500 Holidays and entertainment 10000 99424 Superannuation Accounts Mitch -Net wealth superannuation account 20000 4 years -- invested in conservative option --includes death and TPD cover for 50000 Jill -Net wealth superannuation account 30000 -- invested in conservative option --includes death and TPD cover for 50000 - Legal Super Industry Super Fund 5000 --invested 20% in shares and 80% in cash - ABC Super Fund 5000 --invested 100% in cash (Mca.gov, 2016) Goals and Objectives The couple wants to reduce their debt obligations as soon as possible. Investments done must be revised so that tax liabilities can be reduced. They want the best way to create wealth for retirement planning, from now onwards. They want to rationalise their superannuation funds. To achieve a well- diversified portfolio within their superannuation investments based on their risk appetite. After 2 years, they want to fund a holiday for the family to America which will cost them $12,000. They want to plan an education fund to place Tessa in a private school, when she turns 11 years. Current financial position Cash flow statement COMPREHENSIVE CASHFLOW STATEMENT Income per annum Salary 40000 Net profit from business 130000 Bank Interest 120 Fully Franked Dividends 500 TOTAL INCOME 170620 Expenses Living Expenses 40000 Private health insurance 3200 Professional Membership fees -Mitch 700 -Jill 800 Travel Expenses for work -Jill 400 Tax preparation (50/50) 2000 Donations (50/50) 1500 Holidays and entertainment 10000 TOTAL EXPENSES 58600 EBIT(Earnings Before Interest and Taxes) 112020 Interest Expense 14491 PBT (Profit Before Taxes) 97529 Taxes applicable 62529 Net profit 35000 Total Repayments 26333 Cash Profit 8667 (Riskstrategies, 2016) Detailed tax calculations Earnings of Family 97529 Tax Limits Rate Fixed Charge Amt. Eligible Tax Applicable 18200 0% 0 18200 0 37000 19% 0 79329 15073 80000 32.50% 3752 60529 23424 180000 37% 17547 17529 24033 TOTAL 62529 (Ato.gov.au, 2016)(Ato.gov.au, 2016)(Exfin.com, 2016) Balance sheet Assets Type Value Fixed Assets Home Joint 650000 Contents Joint 80000 Cars Joint 60000 Net Fixed Assets total 790000 Current Assets Savings- Cash Mitch 20667 Cash Equivalents total 20667 Current Investments Superannuation Balance Mitch 20000 Superannuation Balance Jill 40000 Investments total 60000 TOTAL ASSETS 870667 Liabilities Home Mortgage ** 420000 Car Loan*** 15000 TOTAL LONG TERM LIABILITIES 435000 Current Liabilities Bad Debt- Shares 30000 Credit Card- Payables 48000 TOTAL CURRENT LIABILITIEs 78000 TOTAL LIABILITIES 513000 Share Capital/ Equity -Mitch 118833 -Jill 238833 TOTAL EQUITY 357667 TOTAL LIABILITIES EQUITY 870667 (free-management-ebooks, 2016) Risk profile and investment Strategy Purpose of risk profiling It is a process through which optimal level in the investment is evaluated. It is the methodology through which required risk and the capacity of the risk along with that tolerance of the risk is examined(riskprofiling, 2016). It helps in determining the right assets allocation so that proper return can be generated from that(Professionaladviser, 2016). In other words it can be said that it is used for the strategic deployment of the portfolios' resources(Hughes, 2016). Interview What is your name? Mitch What is your age? Age 35 years What is your willingness in terms of financial risk? According to the interview, respondent's willingness towards the financial risk is moderate in nature that is neither too high nor too less. Since respondent is having nuclear family which includes two children and wife, therefore he is not ready to take high risk. This question clearly states that willingness towards the financial risk is totally dependent upon the structure of the family and family members' earnings. In the given case, Michael is the only earning member of the family(Telstrasuper, 2016). In financial context what is risk? According to the respondents, risk is the combination of the opportunity and danger which is associated with the instrument of the portfolio. Risk is always associated with the portfolio. Whether market is too god or moderate risk will be there. Therefore it can be said that it is an indispensible part of the investment. After how many years you will withdraw invested funds from your portfolio? According to the interview, respondents would like to withdraw funds after 3-5 years. Can you define holding period for the long term investment? According to the interview, respondents had a belief that long term investment is for more than 3years. Then only desired return can be obtained from the long term investment(Moss, 2016). If the share of your portfolio goes down by 40% in a short period of time, then what will be up decision? According to the response of the respondents, he would like to sell portion of the investment in the market. Portion which is sold out will be invested in other investment which has high return. Portion of the investment will be invested in that source which has stable return. Respondents will not buy more investment because it may be very risky. Holding of the investment is not advisable because in case share goes down by some more percentage then investor has to face huge loss. Would you like to invest in an investment which has no value fluctuation, although it might generate low return? In the interview it was asked form the respondent that in what type of investment he would like to invests. Respondent strongly agrees to the given statement according to which he would like to invest in that investment which has no value fluctuation, although it might generate low return. Couples overall risk profile According to survey sheet filled by Mr. Mitch and his wife Jill, the client is young, has family with two children and a home. The couple is young and earning with 2 children. The current and future income sources from salary, pensions and other investments of the clients are stable and fairly secure. They have mortgage and also have to cover the childcare costs and small cash balance balances. The client is not entirely familiar with the investment matters. They have a little knowledge of share market and the other investments areas. The client has been into investment for not a very long time which is 3 years only. The investment does not include money spent in buying home and deposits in bank. In the current situation of client, they do need to access the money invested in the 3 to 5 years as they do not see any current emergency arriving. They will access money when their children will start going to the private schools. Apart from the investment, client has already plans to meet short term cash flows and in case of emergency. So the client is planning to keep the money for approximately 3 to 5 years. Mitch and Jill are also interested in tax savings. They understand the fact that some investments will help in tax savings but the benefit of saving the taxes will come with some risk. The couple is ready to take some variability in risk which also includes tax savings. The couple was asked a hypothetical question about the investment that if the client invested $100,000 and due to some bad market conditions, the portfolio drops to $85,000 in a short period, then what will the client would do. The client decided that they will sell a portion of the portfolio to cut the losses and reinvest into more secure investment sectors. Also if the portfolio further falls in the next 12 months, then the client is willing to hold the investments and sell nothing, expect the market conditions to get better or improve. Hence it can be said that risk portfolio of the client i s risk averse in nature. This shows that the client is willing to take the risk but not high risks which may or may not involve the good returns. The client is willing to have a balanced portfolio with spread of investments. They are willing to take the risk of negative return in 1 out of 7 years. This means the client is the balanced investor and has some understanding about the investment market behaviour. The client prefers balance between capital growth and capital security. They are prepared to bear short term risk in order to have long term capital growth. Investment Recommendations Based on clients risk appetite, they have several investment opportunities. As per their objectives of long- term savings for childrens education, they can invest in equity- linked securities. This will give them long- term capital appreciation. Besides that, they want to save their tax payments. So, for that they can go for debt instruments which will help in tax saving. Following investments are proposed for the client in particular. Australian fixed interest Mitch should go for Legg Mason Western asset Aus Bd A. It will provide fixed rate of income to the investor. This fixed interest rate instrument has been selected because its growth rate is constantly increasing from 2011 onwards. Income generated over the five years investment is 5.86%(Netwealth, 2016). Growth percentage is 1.12%. Index percentage is 6.54 and category percentage is 5.64. Credit quality of this bond is moderate medium. Standard deviation of the fund is 2.32. Sharpe ratio is 1.67. Beta and alpha of the stock are 0.94 and 0.41 respectively. Average weighted price is 112.31. Minimum initial investment is $30000. Minimum additional investment is $ 5000. Minimum withdrawal is 0 %. Thus it will ensure the stability of the principal and the interest income(Morningstar, 2016). Australian property In this category investor should go for Black rocked Indexed Aus listed property. It is one of the most popular investments because investor is having full control over the investment(Anz.co.nz, 2016). Several tax benefits are attached with this investment. It is regarded as a tangible investment. Income generated over the five years investment is 5.30%. Growth percentage is 14.71%. Index percentage is 20.85 and category percentage is 19.18. Credit quality of this equity is large growth. This grows faster as compared to the share market. Standard deviation of the fund is 11.18. Sharpe ratio is 1.55. Beta and alpha of the stock are 1 and 0.01 respectively. Minimum initial investment is $500000. Minimum additional investment is NAv. Minimum withdrawal is NAv. Switching is allowed and the distribution frequency is on quarterly basis.(Morningstar , 2016) Australian equity In this category, investor should go for Bennelong Concentrated Australian Eq. Equity is related with the long term investment. It assures high return but it is related with the high risk. Accumulation index return of this is very constant i.e. 1.25%. Quarterly return of the stock is 3.73%. Income generated over the five years investment is 11.52%. Growth percentage is 4.65%. Index percentage is 9.60% and category percentage is 9.35%. Credit quality of this equity is large growth. This grows faster as compared to the share market. Standard deviation of the fund is 13.55. Sharpe ratio is 1.78. Beta and alpha of the stock are 0.92 and 10.29 respectively. Minimum initial investment is $10000. Minimum additional investment is $1000. Minimum withdrawal is $5000. Switching is allowed and the distribution frequency is on semiannual basis. Annual ICR of the bond is 1.09%(Morningstar, 2016). International equity In this category investor should go for Maple-Brown Abbott Global Listed Infras. Investor should go for international equity because it provides diversified opportunities and reduce risk at optimal level. It provides liquidity and flexibility to the investor. It is one of the best ways to assume the risk of investing in equity linked investments. One will be able to expose to huge risk, ensuring good returns while having a diversified portfolio.Income generated over the three years investment is 6.59%. Growth percentage is 11.18%. Index percentage is 12.32% and category percentage is 13.28%. Credit quality of this equity is medium growth. This grows faster as compared to the share market. Standard deviation of the fund is 8.78. Sharpe ratio is 1.74. Beta and alpha of the stock are 0.58 and 9.78 respectively. Minimum initial investment is $20000. Minimum additional investment is $5000. Minimum withdrawal is $0. Switching is not allowed and the distribution frequency is on quarterly ba sis. Annual ICR of the bond is 0.98%(Morningstar , 2016). Recommended Strategies First of all Mitch should identify the risk. This will help in describing and recognising the amount of risk that will affect the project's outcome. In this investor should broadly identify its objectives and goals(continuingprofessionaldevelopment.org, 2016). Earnings of Family 97529 Tax Limits Rate Fixed Charge Amt. Eligible Tax Applicable 18200 0% 0 18200 0 37000 19% 0 79329 15073 80000 32.50% 3752 60529 23424 180000 37% 17547 17529 24033 TOTAL 62529 After identifying the risk Mitch should analyse the risk deeply. This will helps in determining the likelihood as well as the consequences of the each risk(litten, 2016). It will help in gaining knowledge relating to the nature of the risk. It will examine that how particular risk can affect goals and objectives of an individual. This information will be useful in describing and building portfolio of the client(CTB, 2016). Home Mortgage 420000 No of years 18 Annual repayment 23333 Interest Rate 5.50% Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Opening Mortgage Amount 0 396667 373333 350000 326667 303333 280000 Additions 420000 0 0 0 0 0 0 Repayment 23333 23333 23333 23333 23333 23333 23333 Closing Mortgage Amount 396667 373333 350000 326667 303333 280000 256667 Interest cost applicable 10908 21175 19892 18608 17325 16042 14758 Total payable 34242 44508 43225 41942 40658 39375 38092 Total paid 37200 37200 37200 37200 37200 37200 37200 Interest Cost paid 13867 13867 13867 13867 13867 13867 13867 Evaluate the risk; this will help in identifying the magnitude of risk. Consequence as well the likelihood will be evaluated through this. Though this investor can make decision that whether risk is tolerable or it has to be transferred or mitigated. This will help in knowing the volume of the risk and its consequences. Car 15000 No of years 5 Annual repayment 3000 Interest Rate 6.60% Year 1 Year 2 Year 3 Year 4 Year 5 Opening Loan 0 12000 9000 6000 3000 Additions 15000 0 0 0 0 Repayment 3000 3000 3000 3000 3000 Closing Loan 12000 9000 6000 3000 0 Interest cost applicable 396 578 413 248 83 Total payable 3396 3578 3413 3248 3083 Total paid 3624 3624 3624 3624 3624 Interest Cost paid 624 624 624 624 624 Treat the risk, last but not the least investor should treat the risk. In this investor should plan the response planning relating to the risk. Selling car: The couple has taken two long- term borrowings- one for the house worth $420,000 for 18 years; and the other is for 2 cars worth $15,000 for 5 years. The family consists of 4 people only. They can adjust with a single car as well. After all, they are incurring transport expenses for work purposes, having two cars. So, even if they sell a car they can adjust conveniently. This will help in reducing the interest obligations to a great extent. First of all, $302 which they are paying as interest on car loan will vanish. Besides that, the amount they retrieve from the sale of a car can be used to repay a part of house loan. So, they can save interest payments here as well. Monitor the risk: in this investor would assess the investment strategy. It will help in identifying the impact of different strategies on the portfolio of the client. For the given case Mitch's main aim was to mitigate the tax implication. If above stated strategies are followed by the Mitch then its revised earning of the family will be 50000 instead of 97529 and tax implication will be as follows: Revised earnings 50000 Tax Limits Rate Fixed Charge Amt. Eligible Tax Applicable 18200 0% 0 18200 0 37000 19% 0 31800 6042 TOTAL 6042 Hence it can be said that tax impact has reduced from 62529 to 6042, through recommended strategies. Bibliography co.nz. (2016). The benefits of property investment. Retrieved 2016, from The benefits of property investment: https://www.anz.co.nz/personal/home-loans-mortgages/property-investment/investment-benefits/ gov.au. (2016). Individual income tax rates. Retrieved 2016, from Individual income tax rates: https://www.ato.gov.au/rates/individual-income-tax-rates/ gov.au. (2016). Tax tables. Retrieved 2016, from Tax tables: https://www.ato.gov.au/Rates/Tax-tables/ org. (2016). What are the 5 Risk Management Steps in a Sound Risk Management Process? Retrieved 2016, from https://continuingprofessionaldevelopment.org/risk-management-steps-in-risk-management-process/ (2016). Identifying Strategies and Tactics for Reducing Risks. com. (2016). Current Australian IncomeTax rates. Retrieved 2016, from Current Australian IncomeTax rates: https://www.exfin.com/australian-tax-rates free-management-ebooks. (2016). Reading a balance sheet . Hughes, E. A. (2016). What are the pros and cons of risk profiling tools. litten, D. (2016). 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