Biography of Max Weber

Max Weber was born in Erfurt, Prussia (present-day Germany) on April 21, 1864. He is considered one of the three founding fathers of sociology, alongside Karl Marx, and Emile Durkheim. His text The Protestant Ethic and the Spirit of Capitalism was considered a founding text in sociology. Early Life and Education Weber’s father was greatly involved in public life and so his home was constantly immersed in both politics and academia. Weber and his brother thrived in this intellectual atmosphere. In 1882, he enrolled at the University of Heidelberg, but after two years left to fulfill his year of military service at Strassburg. After his release from the military, Weber finished his studies at the University of Berlin, earning his doctorate in 1889 and joining the University of Berlin’s faculty, lecturing and consulting for the government. Career and Later Life In 1894, Weber was appointed a professor of economics at the University of Freiburg and then was granted the same position at the University of Heidelberg in 1896. His research at the time focused mainly on economics and legal history. After Weber’s father died in 1897, two months after a severe quarrel that was never resolved. Weber became prone to depression, nervousness, and insomnia, making it difficult for him to fulfill his duties as a professor. He was thus forced to reduce his teaching and eventually left in the fall of 1899. For five years he was intermittently institutionalized, suffering sudden relapses after efforts to break such cycles by traveling. He finally resigned his professorship in late 1903. Also in 1903, Weber became the associate editor of the Archives for Social Science and Social Welfare where his interests lied in more fundamental issues of social sciences. Soon Weber began to publish some of his papers in this journal, most notably his essay The Protestant Ethic and the Spirit of Capitalism, which became his most famous work and was later published as a book. In 1909, Weber co-founded the German Sociological Association and served as its first treasurer. He resigned in 1912, however, and unsuccessfully tried to organize a left-wing political party to combine social-democrats and liberals. At the outbreak of World War I, Weber, aged 50, volunteered for service and was appointed as a reserve officer and put in charge of organizing the army hospitals in Heidelberg, a role he fulfilled until the end of 1915. Webers most powerful impact on his contemporaries came in the last years of his life, when, from 1916 to 1918, he argued powerfully against Germanys annexationist war goals and in favor of a strengthened parliament. After assisting in the drafting of the new constitution and the founding of the German Democratic Party, Weber became frustrated with politics and resumed teaching at the University of Vienna. He then taught at the University of Munich. Weber died on June 14, 1920. Major Publications The Protestant Ethic and the Spirit of Capitalism (1904)The City (1912)The Sociology of Religion (1922)General Economic History (1923)The Theory of Social and Economic Organization (1925) Sources: Max Weber. (2011). Biography.com. http://www.biography.com/articles/Max-Weber-9526066Johnson, A. (1995). The Blackwell Dictionary of Sociology. Malden, Massachusetts: Blackwell Publishers.

Important Celebration Finance Chinese Essay Example Pdf - Free Essay Example

Sample details Pages: 6 Words: 1905 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Tags: Celebration Essay Did you like this example? Chinese New Year is an important celebration that necessary been celebrated by all the Chinese in the world. That is more than 1.3 million Chinese around the world (World Popolation 2012, 2013), therefore, Chinese New Year already be treat as a important festival that necessary be celebrated and be include as a public holiday for most of the Asia country such as Malaysia, Singapore, Taiwan, China, Hong Kong, and South Korea (Chinese New Year, 2013). Stock market will be always changes according to the variation of environment such as different holiday on different country will affect the stock price differently. Don’t waste time! Our writers will create an original "Important Celebration Finance Chinese Essay Example Pdf" essay for you Create order Chinese New Year is one of the holidays that will affect the stock market in most of the Asia country such as Malaysia. The stock market exchange will become anomalies on before, during and after the Chinese New Year period, which is known as Chinese New Year effect (Chinese Lunar New Year: Year of the Snake, 2013). Chinese New Year effect that occur in banking industry, may because by the different demand and purchasing on the market in before, during, and after Chinese New Year. For example, before the Chinese New Year is coming, most of the company will award yearend bonus to their employees. Besides, preparation before Chinese New Year such as buying some traditional New Year decoration, food, drink, clothing, shoes, and accessory. That will relatively increase the demand and purchase ability in a period of time (Chinese New Year, 2013). In this research, two stocks in same industry will be selected and the data period for both stock price and market index shall starts from 1st January 2007 until 2nd February 2012. Those will using the up to date data to observe the relationship between Chinese New Year and stock returns. Literature Review January effect or turn-of-the-year effect January effect or called turn-of-the-year effect is a good example of seasonal abnormal in security markets around the world. During turn-of-the-year, certain types of securities produce positive abnormal returns. Stock prices tend to rise during the starting of the last trading day in December and ending on the fifth trading day of January. Rozeff and Kinney (1976) found a seasonal pattern in the New York Stock Exchange (NYSE) index over the period of 1904 to 1974. The average monthly return in January was about 3.5 percent, while the average return in other months was just 0.5 percent. The average return in January appeared to be seven times higher than returns for other months (Lim, Ng, Chong, 2010). Keim (1983) found that the abnormal return is related to the stock market capitalization. As such, small capitalization stocks outperform large capitalization stocks in January, as small capitalization stocks post a higher abnormal return than large capitalization stocks. Reigan um (1983) confirmed that the January effect is a small capitalization phenomenon (Su, Dutta, Xu, Ma, 2011). The Weekend Effect Doyle and Chen (2009) suggested a weekday effect that the day-of-the-week changes over time. As pointed out by Cross (1973), the weekend effect involves negative returns to stocks between Friday and Mondays close has been analyzed in the literature. Several studies have investigated the reversal of the weekend effect. Brusa, Liu, and Schulman (2000) discovered that Monday returns for U.S. stocks were positive and the largest during 1990s. Brusa, Liu, and Schulman (2003) showed that weekend and reverse weekend effects exist in a wide range of industries and that the effects are similar across months. Brusa and Liu (2004) found that the positive Monday returns are concentrated in the first and third weeks of each month, while Brusa, Lui, and Schulman (2005) showed that the reverse weekend effect is correlated with the previous Friday return. Thus, positive Monday returns for large stocks are likely to be observed after positive Friday returns. Seasonal anomalies These seasonal abnormal include holiday effect, day-of-the-week effect, and month-end effect. Most of the interests are seasonality began in 1966 when a market technician, Arthur Merrill, identified an obvious trend of stock prices on certain days of the week, at certain times of the month, and around holiday seasons. Merrillà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s (1966) work on literature aimed at both identification and explanation of these seasonal irregularities in asset returns. Several studies have studied the securities prices having abnormal returns over the weekend, that is, the day-of-the-week effect. French (1980) shows that US common stocks held over the weekend earn a small negative return (Does seasonality in the Kuala Lumpur Stock Exchange still exist). Gibbons and Hess (1981), and Keim and Stambaugh (1984) also provide empirical evidence that supports this weekly stock return. Ariel (1987) examines US. stock indices returns from 1961 to 1981 and finds stocks appear to earn positive average returns only around the beginning and during the first half of calendar months, and zero average returns during the second half. Holiday effect According to the efficient market hypothesis (EMH) by Fama (1970), stock prices follow randomly and past information cannot be used to predict the future. Therefore, there should be no abnormal returns on special occasions such as holidays. Lakonishok and Smidt (1988) significant return before US public holidays. These pre-holiday returns are two to five times higher than returns before a weekend and 23 times higher than those on normal days. These results are confirmed by several other studies, such as Pettengill (1989) and Ariel (1990). These studies all focus on developed financial markets (Dodd Gakhovich, 2011). A number of studies have also examined the post holiday effect. Lakonishok and Smidt (1988) find insignificant post-holiday returns until 1952 and significant positive returns afterwards. However, Kim and Park (1994) document negative post holiday returns for the UK, and Lee et al. (1990) for Korea and Singapore. The magnitude and statistical significance of pre hol iday returns may vary on specific holidays. Returns prior to religious holidays tend to be higher than returns of other holidays. Chan et al. (1996) show significant pre-holiday effects before cultural holidays in Asia. Specifically, Malaysia sees abnormal returns before Chinese New Year. Chinese New Year effect Gao and Kling (2005) also found a pattern of market return in both Shenzhen and Shanghai stock exchanges with the highest return in February, but it is insignificant as well. The explanation for the seasonal high return in February in China is that February is the turn-of-the-year in China, as the Chinese Lunar New Year usually begins in late January or sometime during February, rather than the calendar year. However, Zhang and Sun (2003) by examining the seasonal anomalies in China, reported that there is no January effect or a February Chinese New Year effect on the Chinese stock market. But a significant and positive March effect was found. The explanation is interesting that they consider that the March effect in China reveals the political nature of financial anomalies in the country. March is the political high season in China and in March political window-dressing is caused by political maneuvers (Chinese New Year, 2013). Methodology In order to examine the impact of C hinese New Year on the stock performance in 2012, we is required to select two stocks in the same industry and also searching for their daily stock prices from the yahoo finance. After that, download the daily market index of Malaysia such as FBM KLCI from the yahoo finance. The industry be chooses is financial industry and the two stocks be chooses is Hong Leong Bank and Public Bank. Next, the data period for both stock price and the market index are starts from 1st Jan 2007 until 2nd Feb 2012. The event window for these two stocks is -5 to +5 it is mean that is lags 5 days and leads 5 days are used for the detection of CNY effects. The event day is set as 0 and the period from 1st Jan 2007 to -6 serves for the estimation period. In terms of the calculation, we are required to estimate the daily returns for the both stocks that chooses and FBM KLCI. Second, regress the stock return against market returns in the estimation period (1st Jan 2007 until 2nd Feb 2012) in order to e stimate alpha and beta coefficient for the companyà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s stock ( Hong Leong Bank and Public Bank). Third, apply the estimated alpha and beta coefficient in the Capital Asset Pricing Model (CAPM) in purpose to compute the expected return of companyà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s stock in the event window by using Capital Asset Pricing Model (CAPM) formula. Capital Asset Pricing Model (CAPM) formula as follow: Where: = risk free rate = Beta = return on market Then, subtracting expected return from the estimated return in order to calculate the abnormal return (AR). The formula as following: Where: R = estimated return E(R) = expected return Where: P = Price t = Period of year Analysis Table 1 Event window of Hong Leong Bank Hong Leong Bank Date R(i) R(m) AR 2012/1/16 -5 0 -0.00924 0.002544 2012/1/17 -4 0.0018365 0.006802 -0.00083 2012/1/18 -3 0 -0.0013 -3.2E-05 2012/1/19 -2 0.0091325 -0.00038 0.008799 2012/1/20 -1 0.0090498 0.003849 0.007346 2012/1/23 0 0 0 -0.00045 2012/1/24 0 0 0 -0.00045 2012/1/25 1 0.0178576 -0.00191 0.018021 2012/1/26 2 0.0262024 0.002694 0.024873 2012/1/27 3 0.0085837 -0.00194 0.00876 2012/1/30 4 -0.0172418 -0.00484 -0.01612 2012/1/31 5 -0.0122486 0.005101 -0.01436 Graph 1 The table 1and graph 1are showing the stock price flow of Hong Leong Bank in the pre-Chinese New Year until post-Chinese New Year. According to the graph, we can realize that the stock price is flowing downward before the 3 or 4 days of CNY. In the financial industry, that will be a normal situation will be form before the CNY. This condition may be cause by the large funds transfer before the CNY especially for the company. Norma lly, most of the company will award the yearend bonus to their employees before the CNY (Chinese New Year, 2013). Bonuses usually be given is 2 or 3 month or more than 3 month per person, therefore, there will be a large funds transfer between the company and bank. Besides, for the individual will many increase their funds transfer in order to make some preparation before Chinese New Year such as buying some traditional New Year decoration, food, drink, clothing, shoes, and accessory. That many because by the Chinese New Year effect however that also may be affect other effect such as holiday effect. The magnitude and statistical significance of pre holiday returns may vary on specific holidays. Returns prior to religious holidays tend to be higher than returns of other holidays. Table 2 Event window of Public Bank Public Bank Date R(i) R(m) AR 2012/1/16 -5 -0.00152 -0.00924 0.000724 2012/1/17 -4 0.00304 0.006802 0.000778 2012/1/ 18 -3 0.004542 -0.0013 0.004557 2012/1/19 -2 0.001509 -0.00038 0.001264 2012/1/20 -1 0.003012 0.003849 0.00158 2012/1/23 0 0 0 -0.00035 2012/1/24 0 0 0 -0.00035 2012/1/25 1 0.001503 -0.00191 0.001687 2012/1/26 2 0.005988 0.002694 0.00488 2012/1/27 3 0.002981 -0.00194 0.003176 2012/1/30 4 0.005935 -0.00484 0.006944 2012/1/31 5 0.001478 0.005101 -0.00031 Graph 2 The table 2 and graph 2 are showing the stock price flow of the public Bank in the pre-Chinese New Year until post-Chinese New Year. For the stock price flow of Public Bank we can realize that there are pretty similar with the Hong Leong Bank, however this similarity may because by the Chinese New Year period effect. However the stock price of Public Bank may also be affect by the announcement that announce before the CNY which is on January 11, 2012 (Gerenal Announcement, 201 2). This announcement can be categories as a general effect and that will affect the performing of the stock market. General effect means that, this effect may be usually happen in any time anyway. Conclusion According to the two tables and graph above, we can realize that both of the graphs are showing the similes flowing in before, during and after the CNY. However, that is some different between this both stock that choose specially in middle of the CNY. In the middle of the CNY, the stock price of both bank are starting going upward. The stock price of Hong Leong Bank are direct climbed to a high point and then slipped. Public Bank stock price are starting going upward and slipped a little bit, after that direct climbed to a high point and then slipped. That may be related to the announcement that Public Bank announce on January 11, 2012.

Iraq War Essay examples - 582 Words

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Crime Prevention Essay - 1208 Words

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The Taxation System Between Australia And Bangladesh And...

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A short review about cloud computing

Question: Describeabout cloud computing. Answer: 1. Introduction Cloud management system is used to manage the cloud infrastructure. It is also called CIMI (Cloud Infrastructure Management Interface). CIMI started in the year 2010 and soon in the year 2014 it got internationally standardized. There are different models of cloud infrastructure management like IaaS (Infrastructure as a service), SaaS (Software as a service) and PaaS (Platform as a service). The specification would provide the protocol for interacting with the cloud service provider and the consumer. The primary resources of the IaaS are a machine, network and storage and they are managed in such a manner that the customer specification and requirement are fulfilled (Li et al., 2012). There should be provision for upgrading their infrastructure accruing to the client/customer need. 2. Remote Administration and Management The company using cloud computing can use the server according to their needs using the capabilities of the computer. It can automatically stop access to its server and storage without using any human resource (Masud Huang, 2012). The files and documents can be obtained using a wide variety of devices from any global location.(e.g. mobile, tablet, laptop, desktop and workstations). The data stored in cloud storage can be accessed by multiple users irrespective of the location Cloud computing provides elasticity to its users such as a further expansion of storage space is possible on demand. Cloud system optimizes the resource automatically and controls the bandwidth, storage, and process for each user account. 3. Backup and Disaster Recovery It is the term that the computer storage manufacturing companies use and the storage service providers use it to describe that the data stored in their database is available at any moment such as during disaster the data is accessible to the user. When the data is kept in a distributed system they are interlinked with a high-speed connection such as optical fibre connection is used. Data redundancy is to make the data availability greater i.e. the data is duplicated and stored in several backup storage devices into segments and accessed when needed. The storage devices are independent of each other and thus there is flexibility to add more storage options. Two simple methods are used for data availability; Storage Area Network or SAN and Network attached Storage or NAS. Itis the property of a product or system, to work with other products or systems, understanding interfaces completely without any restrictions to access it. The distributed computing system uses data synchronization between the different system in various clouds and the internal systems to synchronies them. The connection between the clouds is difficult so there may be latency for synchronization between the clouds. If a new system is added to the system, it is also synchronized and is interoperable. The interoperability uses much communication protocol and it should share a standard process of data and model. For different platforms, a protocol is used to discover its service and exchange information between them (Dinh et al., 2013). In general, the conceivable stockpiling are easy to locate for the global clients but it offers the administration of distributed computing. The administration of distributed computing is accomplished by the convention of HTTP. To increase the security for the information HTTPS and SSH are mostly used. These use the secure version by encrypting the data that is transferred using this protocol. HTTPS stands for Hypertext transfer protocol and it works in the transport layer of the OSI model. Earlier HTTPS was used in payment gateway sites, emails and for other sensitive websites but now it has widespread and utilized in all types of websites for protecting the authenticity of the page. SSH also called secure shell is an encrypted protocol that allows the user to operate remotely (Jain Paul, 2013). It has replaced its predecessor telnet with its improved encryption feature. The evolution of computers has helped business companies to automate their business process and have an advantage over the global market. Cloud computing in infrastructure management can have an enormous effect on a various range of industries. Cloud = Internet-based access to low cost computing and applications + Internet-based data access and exchange Characteristics of a cloud based infrastructure: Characteristics = Internet Accessibility + On-Demand Self-Service + Pooled Resources + Usage-Based Billing + Elastic Capacity (Opengroup.org, 2016). 4. SLA Assessment According to Ficco et al. (2012) the access to the resources of the different cloud based service providers is provided through a Service Level Agreement (SLA). Cloud based service providers maximise their Quality of Service by balancing their infrastructure and not violating the SLA. The assessment of various risk factors on cloud computing is the goal of this assignment. The method that is used in the framework is used by the consumers and service providers to identify the risk that is deployed during the operation. There are various models in risk management through which the risks can be identified and a solution can be implemented on that risk factor. The effect of the risk on the architecture or design is also executed by risk management. The assessment of the risk has an impact on the cloud computing toolkit. With a proactive system, IT managers can identify most of the problems that causes slowdowns and outages, eliminating much of the downtime associated with a reactive approach. When such thing occurs, the time to repair is shorter because of troubleshooting. Problems are resolved faster, with less effect on both users and ITs. Overall, IT is in a much better position to deliver on its SLAs while still driving innovation (Zheng et al., 2013). It is a contract between the service provider and the customer. The SLA is used to standardise the service provided by the service provider. As an example, an ISP (Internet Service Provider) and an organisation have a service level agreement between them. If the ISP fails to provide internet service to the organisation, the organisation complains the ISP and the mean time between failure, mean time to recovery and mean time to repair is calculated. If it is greater than the time mentioned in the agreement, the organisation may take legal action ag ainst the ISP to pay fine. 5. Benefits of Cloud-based Management Cloud computing can be used for managing the infrastructure of an organisation. It has several benefits for the organization (Jadeja Modi, 2012): 5.1. An increase of efficiency and reducing the Total Cost Ownership Virtualization can help the company to reach a high level of abstraction. The infrastructure cost can be reduced with the use of distributed computing; it removes the limitations and the acceleration is increased for the growth of the company. Virtualization is done in a model and has high level security. It can also be increased or decreased according to the needs this feature is called the scalability (Zissis Lekkas, 2012). The most important benefit of cloud based infrastructure management is lower infrastructure expense. There is no need of maintenance of the servers for the hardware and networking component and it can be upgraded at a nominal cost. 5.2. Increased quality of service As the efficiency is greater the quality of service that the cloud based management provides is also higher. The Iaas service provider provides infrastructure for backup of data during any disaster. The organisation have not to give focus to the servers and hiring staffs for managing the server and networks are not required they can concentrate on the growth of their profession. 5.3. Proactive management of the automated operation The primary goal of proactive management is to prevent problems from occurring at the top level. 5.4. Provision of adaptive security and delivering consistent compliance The virtual machines used in the distributed computing has the provision of adaptive security, only the emails and the payment gateway service can be secured using HTTPS and SSH and rest of the traffic can be accessed using HTTP (Younis et al., 2013). SLAs are of different forms like Customer Based, Service Based and Multilevel Based. The online storage system is cost effective regarding traditional storage systems. The installation cost of a local storage server is much more, and maintenance cost is also taken into account. To access the server remotely VPN (Virtual Private Network) is required (Border et al., 2015). More employees are needed to manage the server, and thus, cloud based is storage is the best solution to be used for business. The cost is one third of the expense of instaling a local storage server with much more features added to it (Wu et al., 2012). 6. Recommendation: 6.1. Google Drive: It is the best suited online storage system for ABC, Inc. Google drive is created by Google for file storage. It allows its user to store data remotely to a cloud based storage space provided by Google; it gives 30 GB of free storage to Google app users and unlimited free storage to students using it for education with the Association of 5 members. With the subscription of extra storage, the storage space can be expanded. If the account is not renewed at the time, a seven-day grace period is given and then the space storage returns to the default free storage. Other files can be accessed but no files can be uploaded to the server. There is an option for downgrading the plan . Also, the storage space can be shrunk if not used by the user. Google Drive also supports third party applications and that can be opened in the drive without instaling any third party software package or application. Google drive can be used offline, and it offers a 15GB of free storage much more than its compe titors. Google has announced to increase its security for its users. Thus, it is the best choice for an organisation to use (Simmhan et al., 2013). 6.2. Checklist to be satisfied by Google Drive Account Governance and Billing Access Management and Security Asset Management Backup and Disaster Management Configuration and Change Management 7. Conclusion: A short review about cloud computing can be viewed from this article. Cloud computing is a new emerging technology that provides both the service provider and the consumer to outcome benefits. The user can have unlimited service with a small investment and infrastructure. Multiple cloud management services are used to provide the user all the service. This article has its primary focus on the utility of cloud technology on infrastructure management. From the study of infrastructure management is has been found that Iaas delivers infrastructure management and it creates a virtual environment that has the flexibility of increasing or decreasing according to the consumer needs. Cost effectiveness is also a factor of distributed cloud computing that empowers classes that are running in remote areas. The different providers pool the resources on a single reservoir, with ease of use. Cloud computing is growing rapidly since it is more user-friendly and users can have access to their files from anywhere in the world. Companies using cloud storage need to pay the amount for space they have used thus reducing their energy consumption up to 70% making their company green and eco-friendly. Cloud storage has several advantages the data stored in cloud servers are natural disaster proof and have a high level of security, and the storage can be expanded according to the needs. References: Border, J., Dillon, D., Pardee, P. (2015).U.S. Patent No. 8,976,798. Washington, DC: U.S. Patent and Trademark Office. Cloud Computing for Business: What is Cloud?. (2016).Opengroup.org. Dinh, H. T., Lee, C., Niyato, D., Wang, P. (2013). A survey of mobile cloud computing: architecture, applications, and approaches.Wireless communications and mobile computing,13(18), 1587-1611. Ficco, M., Rak, M., Di Martino, B. (2012, November). An intrusion detection framework for supporting SLA assessment in cloud computing. InComputational Aspects of Social Networks (CASoN), 2012 Fourth International Conference on(pp. 244-249). Garg, S. K., Versteeg, S., Buyya, R. (2013). A framework for ranking of cloud computing services.Future Generation Computer Systems,29(4), 1012-1023. Jadeja, Y., Modi, K. (2012, March). Cloud computing-concepts, architecture and challenges. InComputing, Electronics and Electrical Technologies (ICCEET), 2012 International Conference on(pp. 877-880). Jain, R., Paul, S. (2013). Network virtualization and software defined networking for cloud computing: a survey.Communications Magazine, IEEE,51(11), 24-31. Li, J., Qiu, M., Ming, Z., Quan, G., Qin, X., Gu, Z. (2012). Online optimization for scheduling preemptable tasks on IaaS cloud systems.Journal of Parallel and Distributed Computing,72(5), 666-677. Simmhan, Y., Aman, S., Kumbhare, A., Liu, R., Stevens, S., Zhou, Q., Prasanna, V. (2013). Cloud-based software platform for data-driven smart grid management. Wu, L., Garg, S. K., Buyya, R. (2012). SLA-based admission control for a Software-as-a-Service provider in Cloud computing environments.Journal of Computer and System Sciences,78(5), 1280-1299. Younis, M. Y. A., Kifayat, K. (2013). Secure cloud computing for critical infrastructure: A survey.Liverpool John Moores University, United Kingdom, Tech. Rep. Zheng, J., Ng, T. S., Sripanidkulchai, K., Liu, Z. (2013). Pacer: A progress management system for live virtual machine migration in cloud computing.Network and Service Management, IEEE Transactions on,10(4), 369-382. Zissis, D., Lekkas, D. (2012). Addressing cloud computing security issues.Future Generation computer systems,28(3), 583-592.

Diversity in the Workplace

Question: Whyhasdiversityintheworkplacebeengivensomuchattentionlately? Answer: Introduction Diversity in places of work encompasses racial, sexual and religious differences by the employees of an organization. Moreover, a diverse organization should have people of different age groups, disabled workers, people whose lifestyles differ and even those with different physical traits (Fassinger, 2008). Initially, several organizations did not see the need to have a diverse human resource. Most only employed people from various backgrounds so that they may seem equitable( Rice, 2015). Interestingly, it has been discovered that a diverse human resource is more beneficial than a nearly homogenous one. As a result, several corporations give a lot of attention to this area. A diverse workplace can be described as a mosaic, meaning that individuals within that environment retain their individuality as they contribute to the goals of the organization (Canas, and Sondak, 2013). A look at some of the advantages of such working places can give us insights on how why most organizations are keen on having a diverse workforce. Discussion Organizations that are keen to adapt to fluctuations in the markets have to ensure that their workers are from different backgrounds. This is because the employees bring a variety of solutions to a particular problem (Barak,2016). The ideas generated by the employees during sourcing, allocation of resources, or while in service are from several perspectives meaning that the best solution to the problem will be found. Besides, the ideas generated most of the time target particular groups in the market who are well known by a given section of the employees (Barak,2016). The change in the consumer tastes hence can be noticed very fast and the appropriate action taken so that the grip on the market is not lost. As a result, it is a good idea to make sure there are people from different places in an organization. There is also better service provision, meaning that companies having a diverse human resource tend to have more satisfied customers. This has also contributed to the keenness of businesses on the issue of diversity (Herring,2009). A client who is able to, for example, relate to an individual in the organization or feel that he or she has something in common with a person within the organization will trust it. He or she might feel free to consult those they feel linked to for any clarification or advice in case the need arises (Roberge and van Dick,2010). They, as a result, get satisfied by the devices of the organization and may even influence others to transact with the organization. People from different groups do not share a similar organizational culture. Hence, they define their experiences within their set of cultural systems. The various groups present in a diverse organization identify or define their experience uniquely (Pitts, and Recascino Wise, 2010). Most of the time, females hold lower positions and thus view the organization from a perspective different from their male counterparts at the top who are usually more salaried (Nishii, 2013). In addition, other minorities in any organization interpret occurrences differently from the majority. As a result, they tend to execute they perform better since some problems may be opportunities to other groups. Moreover, those from the minority may are able to perform their duties better due to the cohesion and understanding between themselves. This results in companies that produce faster. Diversity also makes companies find talented or gifted people very easily. Sometimes there may be a need for certain skills such as mathematical ability or analytical competencies in an organization. The identification of individuals with the skills required would require the organization to search far and wide, and at times train those whom they find to meet their objective. This would be time-consuming and costly. A diverse organization raises the chances of having uniquely gifted individuals. Moreover, they are easy to identify when they work for the organization. Managers will only need to make inquiries about the background of the people whom they suspect of being gifted in certain fields based on the traits of the people from their country or background. If for example he or she comes from a region where most of the population are astute business persons it would be safe to assume that due to the influence of others the person in question is probably good in that sector. Hence , companies need a diverse workforce. The amount of revenue that organizations receive as a result of having employees from different backgrounds is also higher than those from homogeneous organizations. This is the reason why several companies, notably Solectron, based in the Silicon Valley are keen on implementing and improving diversity programs. The revenues of the firm at some point tripled after it launched a cultural awareness program for its employees, making them win the Baldridge Prize. The success of the company can be attributed to the efficiency of the different groups that work for the organization (Brown, 2007). Another company that managed to increase its revenue significantly is Voice Processing Corp, which has people from different countries. The marketing of their product has been successful because of the number of markets that they are able to penetrate as a result of a workforce composed of people from different nationalities. This proves that diversity increases access to markets, and has the poten tial of making company operations global. Consequently, several companies are now keen on making their human resource as diverse as possible. Another reason why companies are keen to embrace diversity is that of the lower cost of labor in a diverse organization. This scenario is evident in countries that accept a lot of immigrants every year. Most of these people move to their new localities with the aim of finding greener pastures, meaning that they can settle for less when it comes to the wages they receive. Natives on the other hand, due to the presence of institutions such as labor unions rarely accept low payment. Hiring for the purpose of cheaper skilled labor may be seen as manipulation by some people, even though it is a clever business strategy. However, countries that have organizations whose workforce demand too much money as salary are keen on diversifying so that they may make a good profit. Diversity Challenges and opportunities Workplaces consisting of people from different ethnic groups, age gaps, lifestyles or gender, do are also faced with some challenges because of the differences in beliefs, cultures or values of their workforce. These challenges may translate to poor relationships or seclusion of some groups within the organization. Communication between different groups in such a company may be difficult. There may be language barriers in such environments. Moreover, differences in accents can make the employees fail to understand one another within a short time hence making them fail to meet some objectives of the organization (Harvey and Allard, 2015). Besides, there are chances that failure to communicate effectively can lead to frustrations and thus strained relationships between the workers. The minority groups may also feel alienated when have to clarify themselves continually. It is hence important for organizations to ensure that they develop ways of avoiding problems in communication as a result of differences in the nationalities of their workers. Resistance to change is another issue that can face such organizations. There is always some level of competition between employees from different groups. When they manage to meet an objective successfully, chances are that they will try as much as possible to maintain their position as a successful lot. This would translate to rigidity. Other groups fail to adapt to new practices because they may feel that such changes would compromise their beliefs or culture (Jackson and Joshi, 2011). Failure to change would result in stagnation in specific departments. In addition, adapting to new market demands for the organization would be a bit difficult when a group chooses to remain rigid. Hence, managers need to be keen when dealing with people from diverse backgrounds. The management may also be faced with difficulty when trying to implement policies that encourage diversity. There may be discord between the majority and minority groups when they feel that minority are granted more freedom ( Ozbilgin and Tatli, 2008). Accommodation of different cultural values may take a lot of time as the management tries to find ways of not making some section of the human resource not feel that they are being sidelined. During the implementation of the developed policies, there are chances that some people may even quit working for these organizations because of suspicion that their working conditions may deteriorate as a result of the inclusion of people that they do not like. There is always prejudice or misplaced belief about people from various backgrounds meaning that policies that favor them can be viewed as a betrayal by other workers. Hence managers need to make sure that the policies that they intend to use for the purpose of creating an inclusive workf orce are carefully evaluated and in case they may cause discord, they need to be modified. Generation gap may also cause problems in organizations that have embraced diversity. Chances are that, due to the differences in the perspectives of these people, they may fail to work in unison. Moreover, their views may differ on several issues resulting in friction between them (Kapoor and Solomon, 2011). Cliques may be triggered thereby making teamwork difficult to achieve. Teenagers and young adults may also fail to understand their older counterparts or behave in ways that are considered inappropriate when they interact with themselves. (Jackson, and Joshi, 2011) Besides, the younger workers may consider their older counterparts as being backward at times or even have the notion that they are better suited for working for the organization due to their knowledge or ability to use the latest technology. Hence, managers need to make sure that there is no discord between people who belong to different generations. Organizations that have not implemented diversity programs need to do so because it is a powerful tool not only for increasing the production of the firms but also portraying the business as a friendly, inclusive corporation (Trompenaars and Hampden-Turner,2011). Several diversity programs serve to prevent harassment of specific groups such as women and those from other nations. A good reputation makes it easy gain global access to the markets. Managers also need to train on diversity management if they are to realize the benefits of having a workforce composed of different people (Wales, Gorman, and Hope, 2010). To sum up, diversity also brings the opportunity of accessing cheap labor since people from other nations or even gender tend not to demand high wages compared to the locals and the majority. As a result, organizations that feel their operation costs are high as a consequence of the wages spent on payment of their workers can turn to diversity as a way of making things bette r. Conclusion To sum up, when the benefits and challenges as a result of diversity are compared it is evident that firms need to have people from different backgrounds. It is also prudent for managers to try and foster equality in the workplace. Areas that are overlooked when promoting equality and diversity such as gender balance need to be keenly addressed. When organization take diversity seriously, chances are that they will prosper. Most organizations are of late keen on embracing diversity because they have realized that there are a lot of benefits that result from having a workforce which consists of people from different backgrounds, ethnicities or even races. They have discovered that productivity is increased when the workforce is not homogenous as initially assumed by most companies. Moreover, they are able to expand their market by opening branches in the countries that those who work for the organizations belong to. In addition, the companies tend to have more satisfied customers mean ing that their growth is inevitable since customers tend to recommend such places to friends or family. Diversifying the human resource in an organization also has some challenges. These include the resistance to change, or adapt by sections of the workers. Besides, it is also difficult to implement policies that promote equality among the workers. In addition, generation gap and prejudice can cause communication problems between the workers. However, companies need to make an attempt of being diverse. References Barak, M.E.M., 2016.Managing Diversity: Toward a Globally Inclusive workplace. Sage Publications. Brown, M.G., 2007.The pocket guide to the Baldrige award criteria. CRC Press. Canas, K. and Sondak, H., 2013.Opportunities and challenges of workplace diversity. Pearson Higher Ed. Dychtwald, K., Erickson, T.J., and Morison, R., 2013.Workforce Crisis: How to Beat the coming shortage of skills and talent. Harvard Business Press. Fassinger, R.E., 2008. Workplace diversity and public policy: Challenges and opportunities for psychology.American Psychologist,63(4), p.252. Harvey, C.P., and Allard, M., 2015.Understanding and managing diversity. Pearson. Herring, C., 2009. Does diversity pay?: Race, gender, and the business case for diversity.American Sociological Review,74(2), pp.208-224. Jackson, S.E. and Joshi, A., 2011. Work team diversity. Kapoor, C. and Solomon, N., 2011. Understanding and managing generational differences in the workplace.Worldwide Hospitality and Tourism Themes,3(4), pp.308-318. Nishii, L.H., 2013. The benefits of climate for inclusion for gender-diverse groups.Academy of Management Journal,56(6), pp.1754-1774. Ozbilgin, M. and Tatli, A., 2008.Global diversity management: An evidence-based approach. Palgrave Macmillan. Pitts, D.W. and Recascino Wise, L., 2010. Workforce diversity in the new Millennium: Prospects for research.Review of public personnel administration,30(1), pp.44-69. Rice, M.F., 2015.Diversity and public administration. ME Sharpe. Roberge, M.E., and Van Dick, R., 2010. Recognizing the benefits of diversity: When and how does diversity increase group performance?.Human Resource Management Review,20(4), pp.295-308. Trompenaars, F. and Hampden-Turner, C., 2011.Riding the waves of culture: Understanding diversity in global business. Nicholas Brealey Publishing. Wales, A., Gorman, M., and Hope, D., 2010.Big Business, Big Responsibilities: From Villains to Visionaries: How Companies are Tackling the World's Greatest Challenges. Palgrave Macmillan.