...Giddy Forwards, Futures and Money-Market Hedging/1 Forwards, Futures and Money Market Hedging Prof. Ian Giddy New York University Hedging Transactions Exposure Types of exposure l One-shot exposure l Hedging approaches: l u Open u Forward u Money market u Futures u Options l Ongoing transactions exposure Forwards, Futures and Money-Market Hedging 7 Copyright ©1997 Ian H. Giddy Giddy Forwards, Futures and Money-Market Hedging/2 Tools for Hedging l Petrobras has to pay for equipment from Japan, in Japanese yen, in 3 months u Borrow and pay now? u Use a forward contract/FX swap? u Pay later at spot? Copyright ©1997 Ian H. Giddy Forwards, Futures and Money-Market Hedging 8 Forward Contracts, Futures and Money Market Hedging Money market hedging: match currency of assets and liabilities l Forwards: OTC agreement to exchange currencies at certain exchange rate in the future l FX swap: simultaneous spot sale and forward purchase of a currency l Futures: Exchange-traded contracts for notional future delivery, minimizing default risk via marking-to-market l Copyright ©1997 Ian H. Giddy Forwards, Futures and Money-Market Hedging 9 Giddy Forwards, Futures and Money-Market Hedging/3 Forward Contracts Agreement to exchange currencies at certain exchange rate in the future l Default risk in forward contracts arises because such a contract is a commitment for future performance, and one or other party may be unwilling or unable...
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...thought in mind many experimented with this theory by having children around the age of four test their willpower with marshmallows.This experiment starts with the kids being asked to sit in a room with one marshmallow in front of them.They are told that they can eat the marshmallow in front of them right now or they can wait for the person to come back and earn another marshmallow.This experiment was to test to see how many kids would eat the marshmallow and how many wouldn’t. The children who didn’t eat the marshmallow were said to have a more successful future than the ones who didn’t. While this experiment was attempted a few times there have been results that were similar and some different.I think that willpower plays a large role in success because it can help you focus,self-control,and also financially....
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...A Review: Genetics as a Predictor for Success for Elite Athletes Performing in Power vs. Endurance Sports Common wisdom tells us that a sprinter is highly unlikely to excel in a marathon, and vice versa. It is easy to conceive that genetic variation is a major source of such differences in athletic ability. Actually identifying these genetic causes requires classification of athletic traits and in depth data analysis. Every year the number of polymorphisms that are candidates to clarify individual variations in sports performance increases. The growth of complexity and disproportion between studies parallels with advances in sports genetics. Additionally, there are numerous factors that play a part in these studies of elite athletes. These factors include gender, size of population, ethnic origin or level of competition of candidates, and the statistical approaches all make correlations between studies difficult. Recent studies support the possibility of developing polygenic profiles that could be used as a method to determine an athlete’s genetic predisposition to certain sports and events. A recent study conducted by Buxens et al., investigated the correlation between genetic polymorphisms and world-class endurance vs power athletes. Their research was published in an academic journal and was titled; “Can we predict top-level sports performance in power vs endurance events? A genetic approach”. The goal of their study was to discriminate potential genetic differences...
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...new leadership going to revitalize an organization, thus bringing success to it? Leadership to an organization is rudder to a ship, without too much emphasizing on the importance of leadership, I agree that those in power need to step down for better leadership when necessary. If leaders are making big mistakes, they need to step down anytime necessary. But if current leaders are leading their organizations to make significant progress, they need to stay in power for the sake of their organizations’ continuous progress. New leaders can bring new ideas, innovation and other important resources to their organizations, which are important for the success of organizations. By the 1980s, Haier Group had debt of over CNY ¥1.4 million and suffered from dilapidated infrastructure, poor management, and lack of quality control. The company was on the verge of bankruptcy. Zhangruimin, the saver of Haier Group, introduced the sense of quality to its members by smashing 76 faulty refrigerators in front of everybody. The company started turning around in late 1980s with Zhangruimin’s disciplined management. As an avid reader of western and Japanese business, he brought Haier into international competition after cooperating with Germany Liebherr Group. This has been one of the most told stories where a new innovative leader saves an almost bankrupted company. Under some extreme circumstances, those in power might need to step down before the end of their due time. Chairman...
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...Issue 1 As people rely more and more on technology to solve problems, the ability of humans to think for themselves will surely deteriorate. Write a response in which you discuss the extent to which you agree or disagree with the statement and explain your reasoning for the position you take. In developing and supporting your position, you should consider ways in which the statement might or might not hold true and explain how these considerations shape your position. ANSWER With the development of science and technology made through out the human history, especially the past one hundred years or so, people these days are spending more time relying on technology to solve various types of problems. Does the ability of humans to think for themselves really deteriorate as they rely more and more on technology? Admittedly, the improvement of technology and its concomitant contribution to a more convenient daily life does to certain extent obviate the necessity of many traditional tasks, subtly affecting the humans’ ability of thinking. Nevertheless, as a whole effect in general, technology progress improves working efficiency and labor safety, and frees humans from low-level repeated physical work to high-level decision-making intellectual work. In addition, technology proposes brand-new problems as well which challenges the humans’ thinking ability to an even unexpected extent. It is true that in many situations, the requirement for thinking seems less demanding than before due to...
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...To what extent did the black power movement hinder the success of the civil rights movement? The black power movement branched off from the civil rights movement; however it had a very different approach then the civil rights movement. The civil rights movement had a peaceful nonviolent approach to the improvement of the black condition in America, where as the black power movement believed in using militancy and self-defence if provoked. The black power movement can be seen as a failure and an obstruction to the civil rights movement however the black power movement also had its success. An example of the success are the impact black power had on troubled black youths of the ghetto and the impact it had on black culture whereas an example of its failures among many are the division of the civil rights movement the alienation of white liberals and the corruption within the black power itself. The most important reason why the Black Power Movement was a failure to a fairly large extent was because it divided up the Civil Rights Movement. The Civil Rights Movement had, by the time the BPM emerged, achieved quite a lot, it had managed to get the Civil Rights Act of 1964 and the Voting Rights Act of 1965 passed. This proves that the movement had been successful and through the emergence of the Black Power Movement, members of the Civil Rights Movement got divided up over whether this was right or not. On the one hand, Martin Luther King, the head of SCLC one of the top organizations...
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...Social networking • How does social networking increase a person’s power? • What social networking strategies could one initiate to potentially enhance career success? Agenda PART 1 How does Social Networking enhance your power? Social Networking defined What is Power? Power and Influence How does Social Networking Boost your Power? PART 2 How do Social Networking Strategies enhance your career success? What is career success? Research Analysis Influencing Others Case Study PART 3 Questions Wrap Up What is social networking? Social Networking and Power? Access to the right people with information, the faster one can access information the more powerful they become in an organisation Increase your visibility both in and outside the organisation Visibility leads to influence Types of Power What is Career Success? Motivators to social network Expectancy Theory Defining Career success Tailoring social networking strategies to career objectives How does social networking enhance your career success? How does social networking enhance your career success? Internal Networking Internal networking results in promotion and salary growth Higher visibility Higher influence – leading to Power. External Networking This provides job mobility outside the organisation Acquiring Employment – Does Networking Provide an Edge? A study conducted in 1974 reviewed how 282 men from varying...
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...reason for the Bolsheviks’ success in the revolution of October 1917? (20 Mark) It is accurate to say that Lenin’s leadership was one of the most important reasons for the Bolsheviks’ success in the revolution of October 1917, due to Lenin taking control over the Bolsheviks and beginning to make preparations for seizing power. The whole idea of the revolution only came about because of Lenin returning to the Bolsheviks. However, it cannot be ignored that there were other factors that contributed to the success of the October revolution such as the failings of the Bolsheviks political opponents. Lenin contributed to the Bolsheviks’ success in October 1917 mainly in three different ways. The first contribution Lenin had made in the success of the October Revolution was on the return from exile in April 1917 where he persuaded and took control over the Bolshevik party and made them adopt the idea of seizing power. This was a difficult task as many of the members of the Bolshevik party shared the Menshevik view which predicted that the overthrow of capitalism was far off. Lenin had to work hard to persuade the Bolshevik party to understand his interpretation. Lenin’s success was largely based on his force of personality, but it also owed something to the support he received from new entrants in the Bolshevik party. Secondly, Lenin raised the Bolsheviks’ political profile as he recognised that the Bolsheviks were too weak to mount a serious challenge for power. The Bolsheviks had around...
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...insider groups like the B.M.A. to less wealthy outsider groups like Amnesty International. The wealthier and closer the pressure group is to the government the more successful they are. The success of the British Medical Association (B.M.A.) suggests that the wealthier and closer the pressure group is to the government the more successful they are. The B.M.A. is a voluntary association that speaks up for the interests of doctors at home and abroad, provides a range of services for its members and engages in scientific research. These activities involve lobbying not only the British government but also the European Union as well. The B.M.A. is undoubtedly one of the most influential and effective pressure groups as they have great influence over the policies of the British government regarding the health care system in matters such as the pay and training of doctors, the work of GP’s and hospitals, and the quality and quantity of medical facilities. This supports the view that the wealthier and closer the pressure group is to the government the more successful they are. Due to the wealth of its members the B.M.A. can contribute large amounts of money to influence policy-makers directly or to finance public information campaigns. However there are other factors that decide the success of the B.M.A. and other similar groups, this does not support the statement that the wealthier and closer the pressure group is to the government the more successful they...
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...In order to achieve success in the midst of the obstacles and challenges in your life there is one entity that everyone must acquire first and that is will power. Along with will power come the elements needed to prosper such as time management, concentration, and having faith in God. A great Minister, Eric Butterworth once said, “Nothing stops the man who desires to achieve. Every obstacle is simply a course to develop his achievement muscle. It's a strengthening of his powers of accomplishment.” Eric Butterworth was an author and Minister; he wrote over 16 best-selling books and lectured in seminars. Because he was also a theologian and philosopher his works relates to my focus which is personal, professional and spiritual obstacles and challenges. Being a student in Palm Beach University has helped me clarify the elements needed to achieve success in the midst of life’s obstacles and challenges. It all simmers down to having the confidence and implementing the elements towards your life. Achieving success is possible when executing the elements of will power, time management, concentration, and having faith in God. These elements that are needed to succeed and should be set in place for yourself whether personal, professional, or for spiritual success and provides inspiration and impact lives by generating the feelings of motivation and a sense of confidence. Will power is defined as self control or self discipline, acquiring the ability to have the strength...
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...Controlling, calculating, narcissistic, and having a drive for power are some of the personality traits found common amongst tyrants. They can also be charismatic, charming, and deceitful. Having the personality traits of a tyrant, in moderation, could be the ultimate key to success. When people hear the word “tyrant”, they think of an oppressive and cruel ruler, such as Adolf Hitler. Throughout history, tyrants are notorious for being selfish and causing massive destruction because of this selfishness. However controversial it may be, the fact is that they had goals and they were successful to some extent. A perfect example of using tyrannical powers for success is a boss telling their employees what to do and providing expectations. As the visual found from Career Intelligence, a boss-like figure gave an employee an assignment which later lead to the company’s sales to increase. A boss has to have that drive for success and power in order for their goals, or the goals of the place they work for, to be met. If they do not have any urge to control situations or people, whether being oppressive or not, they would not be in the position that they are in today. While not saying that everyone that has a higher rank job is self-absorbed, some decisions that lead to their success most likely only benefitted...
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...Position Power and Personal Power A View of Leadership vs. Management owner 12/18/2020 GM:591: Leadership and Organizational Behavior Instructor: INTRODUCTION In the past twenty to forty years, the face of corporate America has changed drastically from family owned businesses to conglomerates that absorb smaller businesses by the dozens. Those days where a person works for a single company until retirement are long gone. Retirement funds, 401k’s, investment accounts, and high efficiency technology dominate lunch counter conversations, versus our parent’s conversations about family matters and how the kids are doing. Something has been lost from those days where people actually cared about coworkers and each other. I’m sure if you would ask ten people for a reason for the lack of concern, you would get different responses. According to what I have learned through this course in Organization Behavior, all the case studies, and the research on personal and position power, I have concluded that people are not put first. This has lead to and lack of success in business as well as failures. In most recent times, Enron Corporation comes to mind, along with other companies that accepted government bailout money in order to avoid massive layoffs or closing altogether. My group in this course chose to do the group project on position power and personal power. My individual subtopic deals with how a manager with only position power affects his/her subordinates...
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...Introduction Enron was the majority owner of Dabhol, which was a large combined cycle power plant situated on the western coast of the Maharashtra state in India. The project of Dabhol power plants was commenced in 1992 and took a total of nine years to begin operations of the plant. The total project cost of Dabhol was 2.9 million dollars, with Enron owning 65 percent of the plant followed by, Bechtel Enterprises owning 10 percent, General Electric owning 10 percent, and the state of Maharashtra Electricity Board holding 15 percent. Enron asserted that the Dabhol power plant is the largest gas-fired power plant in the world producing 2, 184 megawatts of electricity. The plant ceased operations in June 2001 that had arisen from a payment[pic] and contract dispute between the owners of the plant and the state of Maharashtra government. The paper will analyze the critical success factors (CSFs) as applied to the various facts found in the case study in “Politic, Institutions and Project Finance: The Dabhol Power Project”. The paper will also attempt to determine the benefits of the project, organizational readiness, and risk culture of the company with facts stated in the case study. By analyzing the CSFs and other components project risk recommendations will be given after a thorough analysis of the criteria. Critical Success Factors (CSFs) of Dabhol Power Project The term critical success factors are used to define the elements or components that are mandatory for an organization...
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...In Organizations, power is seen as tool that authority possesses to wield out instructions to their staff, ensure internal disputes are settled, fire staff if they are intolerable for various reasons and so forth. Therefore, one could deduce that those who possess leadership skills require a high level of responsibility amongst other attributes to be bestowed with power (varying amounts depending on what management level). Certainly, as mentioned in the first Spiderman movie (2002), ‘With Great Power comes Great Responsibility’ (Bolle & Vogel, 2011) This is certainly true in every organization that is successful. Leaders who responsibly use their power for the greater good of the organization tend to find success easier than those who don’t. For example, the most famous leaders of today, Steve Jobs (Apple), Bill Gates (Windows) and Sir Richard Branson (Virgin) are all visionaries and managed to responsibly use their power to make their companies amongst the most successful and revolutionary in the world. This essay aims to provide a detailed understanding into the various bases of power as mentioned by French & Raven (1958): -Reward, Coercive, Legitimate (Positional Powers)-, -Informational, Referent and Expert (Personal Powers) - (Lo & Ramayah, 2011). It also aims to provide an analysis of the use of power by managers within an organizational setting. Finally, this essay will describe managers’ utilization of the various bases and use different examples. This...
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