African American Athletes Essay

American student athletes have always faced stereotypes in and out of the classroom, being seen as self-segregating or â€Å"dumb jocks† that really wouldn’t be at school if it weren’t for their athletic ability. Although these stereotypes are applied to both white and black athletes, African American students, especially men, feel it more than their white counterparts. African Americans are already, for the most part, seen as intellectually inferior, so when they are seen in an academic environment they are automatically judged. If they didn’t get into school just for being black, they got into school for being a black athlete. Excuses are made as to why African American student athletes and pro athletes dominate in the world of sports in general. From the time the black athlete stepped into the sports arena and began to compete with whites, white people have been looking for an explanation. In his article Sailes looks into the myths and stereotypes surrounding African American athletes, most of which have been created by whites. In loosely replicated the experiment that Sailes conducted with his students and in doing so I found that the stereotypes he discusses do exist and many people strongly believe in some of the myths. I interviewed both male and female athletes and non-athletes alike and surprisingly most of their answers to my questions were the same. I asked them all the same five questions; 1. Do you think African Americans dominate in sports? 2. Which Sports? 3. Are there certain positions they are better at? 4. Why? 5. Is their demeanor on the field or court different than that of a white athlete? and 6. Have you heard any myths about why black athletes are better? Interviewee #1, A white female on the basketball team at Gettysburg College felt that black athletes were better at all sports and in all positions, but particularly in basketball and football. She has learned from experience that black athletes are more loud and aggressive. It was her belief that African Americans are better at sports because of genetics. She also said that it could be because historically they have done hard labor and had menial jobs, so their physical condition has evolved. The one myth she has heard is that African Americans have an extra bone in their leg which makes them capable of jumping higher and running faster. Interviewee # 2, an African American football player stated that blacks are better at all sports, but especially football, in such positions as cornerback, running back, and wide receiver. When asked why he felt that this is true his answer was â€Å"because we’re just nasty like that. † In regards to myths he recalled one of his high school classmates expressing to him that the reason blacks were better was because they still had some monkey left in them. Interviewee # 3, a white college graduate, non-athlete articulated that blacks are better at any sport they try but not in any positions that require brain power or thought. He said that they are not usually good quarterbacks because they aren’t smart enough. When I asked him why, his response was, â€Å"because they are dumb N’s†. He believes that they become athletes because they have no other options to get a job or get rich, unless they can rap. He also stated that the reason they can run so fast is because they are used to running from the cops. Interviewee # 4, A white male who is a former athlete said that he believes that African Americans are superior in all sports except for lacrosse and hockey, and that the reason for this is because they are much more expensive to start up and maintain- as opposed to soccer/football/basketball where all you need is a ball really. He thinks black people on the whole start out life economically feeble compared to whites and believes in the myth that they have been evolved into more muscular and stronger people because of the process of natural selection during slavery where the slave owners bought the biggest and strongest, and they’re offspring are the ones that created the people that are dominating in sports now. My last interviewee was a female African American basketball player who felt that African Americans dominate in football and basketball because it is the only sport they want to play so they strive for it. She also said that blacks are more aggressive because it means more to them. In the majority of my interviews the participants mentioned what Sailes referred to as the Mandingo Theory, in which the physical superiority of African Americans is attributed to the selection and so called breeding process along with the manual labor performed during the days of slavery. The psychological and dumb jock theories were also articulated in the answers I received from the white students for they all said at some point or another during the interview that African Americans are intellectually inferior and all they have going for them is sports, and even in the world of sports there are positions that they are mentally incapable of occupying. The one thing that I believe all the participants agreed on both black and white is that African Americans are somehow genetically different. I was really taken aback by my findings. Even though I have learned throughout this semester that people are more racist than I ever thought they were, I didn’t realize that this racism is existent in literally everything. I’m not really into sports and do not pay attention to them, so I had no idea that people felt this way about African American athletes. So, it seems as though African Americans are battling this war on racism on yet another front.

Using Material from Item a Assess Sociological Explanations

Sociology Topic 6 ‘Using material from item A assess sociological explanations of gender inequality in todays society’ In the last 30 years women in the UK working has risen to 2. 45 million whereas men working has risen by 0. 5 million. Item A suggests a variety of gender inequalities in today’s society for example the pay difference women receive as it is suggested according to item A that women earn a quarter of a million pounds less than men and this is without women not having any children if she did have children it would be ? 140,000 less. The pay gap reduces family income overall which isn’t beneficial for families.Another issue is that women mainly work in low paid sectors like retail or caring and due to women having a glass ceiling above men taking all management positions it has left women with the low paid jobs. Hakim believes there’s an occupational segregation in the UK. In the UK according to Hakim men and women do different kinds of work. There are 2 types of occupational segregation. Horizontal segregation and Vertical segregation. Horizontal segregation is when men and women are concentrated in different types if jobs in different sectors of the economy. Women who are in the public sector usually work in health and social work and education.However in the private sector women normally are in admin or clerical work whereas men are in the skilled and manual sector. However horizontal segregation may decline as there is a decline in the primary and secondary sector in the economy. Vertical segregation is when women occupy jobs of low pay and status. There’s evidence that women work in lower levels however when they can work in upper professions they still have a glass ceiling above them according to Walby. This affects women as if there is any chance of promotion they end up being restricted to go any higher.Women also receive less pay in 1975 women only earned 71% of the average full time male wage. The gap has narrowed over the last 30 years due to many women fighting for equal rights. The gap between men and women was 17% in 2007 however the government claim that it’s 12. 6%. The problem with using average pay in the gender gap according to ONS believe that many men who are paid very well can inflate the average and therefore get rid of the true pay gap between men and women. Differences in pay still exists, in some jobs the statistics much higher it’s 22. 3% difference which is a significant compared to the public sector.CMI found out that the average female executive was paid ? 32614 whereas men in the same role received ? 46269. This suggests that inequality still exists however it isn’t as open as it was in the last 50 years it is more discreet. This makes it harder to prove that this inequality still exists in society today. Women also work part time as in 2005 42% of women worked part time whereas 9% men worked part time which shows there is a huge gap this puts women mainly as a huge disadvantage as they have less job security and less chance to promoted. Parsons who is a functionalist believed that men and women should have separate roles in society.He believed women were more suited for the expressive roles whereas men where suited for the instrumental roles of society. He believed men suited pair employment whereas women were meant to do domestic duties. He wasn’t surprised that women are paid less as they are less motivated and less suited to the labour market. Which shows inequality in gender ,as women are seen to be the homemakers according to some sociologists. Some economists believe that the pay gap is justified as it shows that fact that men have more human capital as they have greater orientation to paid work .Women are less commited and are likely to take breaks in there career to look after there family whereas men build their skills, qualifications and skills as they do not take breaks in there career. Howeve r Olsen and walby criticise the human capital theory they believe that main reason why women suffer to have such a low pay is because there’s a systematic disadvantage in acquiring human capital e. g. pay is low in occupations where there are many women. This could be because the jobs require less training and promotion prospects for this job in which men are in the majority.Human capital assumes that experiences of employment means the increase in wage whereas experience in part time work is associated with less wages. Some sociologists believe that a dual labour market exists and is divided into 2 sectors primary and secondary. Primary is secure, well paid and with good prospectus whereas the secondary is poor pay insecurity and no ladder of promotion. Barron and Norris concluded that women are likely to be in the secondary this is due to women being unsuitable, disrupted career developments and weak legal and political framework supporting women.Liberal feminists argue tha t the traditional forms of gender role socialisation in families, education and in the media are responsible for reproducing a sexual division in labour in which masculinity is seen as dominant whereas femininity is seen as subordinate. Oakly argues that the reason for the subordination of women in the labour market is the dominance of motherhood/housewife roles for women. Patriarchal ideology stresses the view that women’s only purpose is to raise children. Sharpe believes that education and careers are main priorities of teen girls.Girls also perform better in education which suggests that society will change at a later stage due to girls performing so well academically. They also see that men and women are taking equal responsibilities are caring and cleaning at home which shows that gender inequality is slowly decreasing as women are realising there potential and men are adapting to women becoming more career focused. Marxists feminists argue the subordination of women to men is linked to the position in society. According to benston women benefit capitalism in 2 ways. The first way is that women provide free domestic labour which allows men to be more effective.Women are also excluded from paid employment in the early 19th century which resulted in women becoming housewife’s and mothers. Benston argues that if the women is a housewife then the man pays for both the labour power of the male and the domestic power of the women. The second way is that women are responsible for raising the future labour force at no cost to the capitalist class this is known as reproduction of labour power. Ansley believed that women in relationships with men also functioned to soak up the male workers frustration with his paid work in the forms of domestic violence.However other Marxists feminists see women as part of ‘reserve army of labour’ which is hired by businesses in times for economic expansion and fired during an change in the economic clim ate (recession). Walby believes that women staying at home has harmed capitalism as women competing with men for jobs would lower wages and increase capitalism. The reserve labour of army has also been criticized as it doesn’t explain why male and females are put in different uses. It doesn’t explain why women have such different responsibilities.Radical feminists argue that society’s divided into 2 different gender classes’ men and women who both have different interests. Feminists believe patriarchal inequalities happen in personal relationships. All personal relationships are political as they based upon different and unequal amounts of power which is determined by sex and are reinforced by every aspect of wider society. Radical feminists note that patriarchal ideology fails then women are constantly under the threat of male violence and sexual aggression which limits their capacity to live as free and independent as they should be.However radical femi nists have been criticized for failing to acknowledge historical changes like women now experience the same rights as men . Another approach is the dual systems approach. Delphy emphasizes the key role of family. She believes the household is important however it’s underrated and believes the work performed by women is high productive however she notes that men dominate households as they have more economic power than women.Walby believes that capitalism and patriarchy could work alongside each other to exploit women. Patriarchy according to walby has evolved from ‘private patriarchy’ in which women have entered public arenas of employment and politics however they still are disadvantaged. She believes that women are no longer restricted to the domestic sphere to ‘public patriarchy’ where women are no longer restricted but have the whole society in which to roam and be exploited.

Report On Aspects of Employment Covered by Law Essay

Britain has a deficit crisis, from which the only escape route, is economic growth. Growth needs to be encouraged in every way possible.   I’m now working in Health and Social Care, it’s my first job here in the UK.I find that here in Great Britain has loads of legislation designed to ensure that discrimination on certain grounds is unlawful, and also protect workers like me. This report will cover pieces of aspects of employment covered by legislation relevant to this area, outlining why legislation relating to employment exists and the list of sources of information and advice about employment responsibilities and rights: The Equality Act 2010 The Equality Act 2010 consolidates the previous nine pieces of equality legislation based on protected characteristics to create, for the first time in Great Britain, unified equality legislation. The nine protected characteristics are: age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex and sexual orientation. Among other things, the Act simplifies or clarifies the definitions of direct discrimination (including association and perception), indirect discrimination, harassment and victimisation and extends positive equality duties to public authorities which must have due regard to the need to eliminate discrimination, advance equality of opportunity, and foster good relations between different groups. The definition of disability under the law has changed such that a person who ahs a â€Å"physical or mental impairment that has long-term adverse effect on their ability don’t have to show that their impa irment affects a particular capacity. The definition of gender reassignment has also been change-stating that this apply to â€Å" a person who is proposing to undergo, is undergoing or has undergone process to change their sex†. Sex Discrimination Act 1975 The Sexual Discrimination Act of 1975 was introduced to protect individuals from discrimination on the grounds of gender. Sexual Discrimination can take many forms. It is essential to understand that sexual discrimination is judged to be unwanted attention by the victim of the behaviour, not the perpetrator. Discrimination was set out in two forms: Direct Discrimination- simply stated that one person is treated less favourably than another based on gender. Indirect Discrimination –on the other is quit complex, this takes place if a requirement or condition is imposed, which has nothing to with gender but in practices. The Sex Discrimination Act also made it unlawful; to discriminate on the ground of marital status. Equal Pay Act 1970/1975 It simply states that Men and Women should receive equal pay for work of equal value. Human Rights Act 1998 The Human Right Act 1998 was introduced by Parliament and came into force in October 200. There are different article in this Act. Theses include: Article 2- everyone’s right to life shall be protected by law. Article 3- no one shall be subjected to degrading treatment. Article 5- everyone has the right to liberty and security of a person. Article 8-eeryone has the right to respect for his private and family life and his correspondence. Article 9- everyone has the right to freedom of thought, conscience and religion. Article 12- men and women of marriageable age have the right to marry and found a family. Article 14- the enjoyment of these rights and freedoms set forth in this Convention shall be secured without discrimination on any ground. Police and Criminal Evidence Act 1984 Establishes the rights of all people arrested by the police. Detainees have the right to legal advice and right to notify person who is likely interested in their welfaire. Civil Partnership Act 2004 This establishes the right of same sex couples to enter into a civil partnership. This is not marriage but is a relationship of equivalent seriousness and commitment. Health and Safety Health and safety is important to every work that we do. The legislation of health and safety is generally covered by statutory regulations. These legislations are: Health and Safety at Work Act 19 74 Employers have a duty to ensure the health and safety at work for all employees, provide and maintain equipment and system in safe condition and provide information, training and supervision relating to health and safety at work. Managers have the duty to maintain a safe working environment for all staff, ensuring that staffs follow policies, procedures and instructions. Give well information about hazard and safe working to new members of staff and also to report or record any accidents. Employees have duty to follow rules and regulation at work, ensure that they use materials in recommended procedures and not misuses anything provided for health ,safety and welfare. Food Safety Act 1990 This applies wherever food is supplied other than within a family situation. This Act is a wide ranging piece of legislation which strengthened and updated existing laws relevant to food and safety. Holidays Annual leave entitlements should be agreed when an employee starts work, details of holidays and holiday pay should be found in the employee’s written statement or contract of employment. Most workers are legally entitled to 5.6 weeks paid holiday per year (this is known as statutory entitlement). Part time worker are entitled to the same amount of holiday (pro rota) as full time colleagues. Employers can set the times when workers can take their leave – for example a Christmas shut down. If employment ends workers have the right to be paid for any leave due but not taken. There is no legal right to paid public holidays Equal pay Employers must give men and women equal treatment in the terms and conditions of their employment contract if they are employed to do: ‘like work’ – work that is the same or broadly similar  work rated as equivalent under a job evaluation study Work found to be of equal value in terms of effort, skill or decision making. Employees are also entitled to know how their pay is made up. For example, if there is a bonus system, everyone should know how to earn bonuses and how they are calculated. National Minimum Wage Most workers in the UK over school leaving age are entitled to be paid at least the NMW. The NMW rates are reviewed each year by the Low Pay commission. Most workers will be entitled to the National Minimum Wage (NMW). Normally the NMW rate changes in October each year. There are no exemptions according to the size of business. HM Revenue & Customs can take employers to court for not paying the NMW. II. Outlining why legislation relating to employment exist: Legislation relating to employment exists to stop exploitation of workers by their employers mainly to protect the rights of their employee’s and to make sure that they have everything they need such as: * Minimum wage * Safety standards * Holiday entitlement * Maternity leave * Redundancy payments * Discrimination laws * Maximum working hours * Age requirement All employees need to have all good things that protect them from unscrupulous bosses. III. Sources of information and advice about employment and rights: * Contract- All employees have an employment contract with their employer. A contract is an agreement that sets out an employee’s: employment conditions rights responsibilities duties These are called the ‘terms’ of the contract. * Handbook- An employee handbook, sometimes also known as an employee manual or staff handbook, is a book given to employees by an employer. Usually, the employee handbook contains information about company policies and procedures. * Policy documents – is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by the Board of or senior governance body within an organization whereas procedures or protocols would be developed and adopted by senior executive officers. * Terms and conditions -Terms and conditions of employment are the elements of a contract which help to define the relation between an employer  and an employee * Job description – A broad, general, and written statement of a specific job, based on the findings of a job analysis. It generally includes duties, purpose, responsibilities, scope, and working conditions of a job along with the job’s title, and the name or designation of the person to whom the employee reports. Job description usually forms the basis of job specification.

Europe Essay Example | Topics and Well Written Essays - 750 words

Europe - Essay Example Trading and buying products has always helped to fund Europe's economic development, and has allowed Europe to grow economically. The Greeks were the precursors to the Romans, and developed the Hellenistic culture after Alexander's conquering skills had brought Greek and Persia to helm. Rome later conquered Greece and venerated Greek culture as great. This respect cause Rome to share many of the same practices. Since Rome was the precursor to the European civilization, the respect for Greece flowed into Europe as time progressed, and Greece and Rome would be venerated as the cultures that started European civilization. 3. Discuss the differences between Northern and Southern Europe in terms of politics, economics, and social development. Do you see them as being very similar, somewhat similar, different, or quite different Why Northern and Southern Europe had somewhat of a different development overall. This could have a lot to do with climate as well as society. Politically, Southern Europe is usually considered more modern, although Northern Europe has certainly caught up with this impression. It can be stated that the North possibly had a slower development into modernization, but today both civilizations are fairly similar. Europe is a much olde... Europe has much more tradition in politics than the United States does. However, both have a focus on western civilizations and western political traditions that has to do with modernization and technology. The desire to take care of the world is at the foundation of both the US and Europe, bringing them together. 5. Do you think that Western Europe should be seen as one, unified region, sharing a common history, currency, and heritage, or does it make more sense to look at it as a mosaic of separate, unique entities that are only bound together by the landmass which they share Why I think that Europe can be seen as a unified region nowadays. Most Europeans speak several languages and understand each other's countries. Most Europeans wish to move toward a unionized concept-hence the creation of the European Union. The governments are democratic and fairly similar, as is the overall focus of the countries.

Stationary Cameras and Crime Essay Example | Topics and Well Written Essays - 1000 words

Stationary Cameras and Crime - Essay Example Different types of data were collected from this study. Firstly the people were asked to identify various crimes that took place in their locality. A nominal measurement scale which categorizes variables was used to collect data pertaining to different types of crime perpetrated in the locality. The majority of the people stated different types of crime like killing, attempted rape, physical assaults, robbery that took place. Secondly the people were asked to rate the crimes that were perpetrated in the order of the most frequently occurring crime. The ordinal data which indicates the order of attributes studied was measured on the scale of most frequently occurring crime on one extreme and the least occurring crime on the other end. The result showed that most of the people interviewed considered robbery and attempted rape as the most frequently occurring crime. Similarly killing was rated as the least occurring crime. Next there were questions pertaining to the usefulness of statio nary cameras for reducing crime. For this purpose, interval scales were used where all the levels of the scale are equal and which provide quantitative information. On a scale of one to five the respondents were asked to measure the use of cameras in reducing crime. It was found that the majority of the people considered it a very useful tool for combating crime. Finally open ended questions were presented to describe whether the crime rate has reduced after installing the cameras. Ratio scales which enable ratio comparisons were used to measure the amount of reduction in the crime rate. For this purpose the local authorities were questioned regarding the amount of cases registered after the installation of stationary cameras. It was found that there was reduction in the registered cases by 85 percent. Validity and reliability This test possesses three types of validity. First internal validity; the ratio scales and the interval scales showed that the use of cameras was effective in reducing crime. Thus it is seen that there is a causal relationship between the two variables which states its internal validity. Secondly the two variables also show a positive relationship which states their conclusion validity. Finally the construct validity is established as the study was successful in measuring the outcome of installation of cameras. The study however lacks external validity. These results cannot be generalized as they deal only with that particular location which is crime prone. A similar study would yield different results where the types and degrees of crime perpetrated as well as the locality is different. The test also possesses three types of reliability. First is the inter-rater reliability. The results showed that the majority of the people were in agreement of the types of crime perpetrated as wel l as the effectiveness of the stationary cameras in combating crime. This result established the inter-rater reliability. The second is the internal consistency reliability. The study showed that the majority of the people answered positively on the use of cameras as well as the reduction in crime rate after the installation. The study however lacks the test-retest reliability. The results of the study were obtained during a single occasion. As

Home depot Essay Example | Topics and Well Written Essays - 750 words

Home depot - Essay Example Home Depot had been doing quite well in growing from 1 to 1,000 big box stores in 21 years. It reached the $40 billion faster than anyone ever has (Charon, 2006). Their success was tied to the fact that they seemed like a warehouse, including the fact that they were cluttered and their lighting was not great. Their culture was one of having a huge inventory would sell a huge inventory. Store managers did pretty much what they wanted to do and there was very little in the way of consequences to pay. In fact, most of these managers did not know whether they were doing well or not. This is the atmosphere and culture that Robert Nardelli walked into. He seemed to be direct opposite of the culture that was presently within this corporation. He used techniques from his leadership style that very much mimic what Schein would say would work. He decided to first go to the core of the beliefs that Home Deport management had. This according to Shien is where the overall assumptions that employees and management have about their organization. In this case Home Depot thought they were successful and that that success was built upon the casual attitude they had, including how their stores were run. However, it's share price was dropping and the competition was doing well. Mr. Nordelli also wanted to extend services which Home Depot had seen themselves as a big box business that mostly men visited. To make this happen, Mr. Nordelli had to tackle the other two layers. The values of this company have been that the management team was had made all their own decisions regardless of what the corporation thought, sometimes sabotaging deals they did not agree with. They had previously been very autonomous. He changed this by giving them information that blatantly showed what their own production looked like and how successful they were. He then held them accountable for their own performance with the expectation that it would improve and the values of those who stayed began to change. They actually became a very cohesive group. Those things that Shein (2009) would call artifacts included those things such as a messy story with little signage and heaped product. One visit to Lowe's gave them new insight as to where their artifact was headed. Women were shopping at Lowe's as well as men and they were talking about the new big box everywhere. This had to change and the only way the new leadership would see that is to be confronted and they were. However, Nordelli was just the beginning for Home Depot. When Nordelli left, Donovan arrived. He found that though some things had been tightened up there was a long ways to go. He found that managers were not as accountable as they seemed and they were getting excellent reviews even when their stores were failing. He also saw that there were different standards according to where the store was. He put into place a culture change toolbox which many corporations have picked up to use at this stage. The culture toolbox (Charon, 2006), included new artifacts such as data templates, reviews and conference calls, new values which were driven through those artifacts and strategic and operating planning and Monday morning conference calls and new assumptions at the core brought on through all of the change that occurred through these changes. In conclusion, Home Depot was successful from the

Cultural Anthropology Essay Example | Topics and Well Written Essays - 500 words - 6

Cultural Anthropology - Essay Example The poor in this scenario adapt based on the environment. The manner in which a person survives the social and economical complexities will determine their success. The nature of survival is attributed to adaptive strategy in that those who positively adapt would survive the complex environment. The society bases itself along the social hierarchy. According to Stack (1974), the society within which poverty prevails adapts a risk and opportunity sharing strategy. This strategy implies that members within a certain community collectively solve issues in an effort to reduce the costs incurred while performing particular functions. In this case, family members are used as a single unite. The self-help strategy at the family level ensures the community survives while fostering relation among family members (28). The strategy highlights the importance of unity along the family setting. According to the author, the unity and risk sharing are an adaptive strategy adapted by people lining in the Flats to overcome poverty and survive the harsh environments. The risk-sharing concept created by friends. These friends exchange basic goods and ensure fair distribution of basic commodities (33). The author acknowledges the close ties among the society members. This relation ensures that people develop a tendency of exchanging goods. The sharing culture ensures that the society enjoys commodities that are within the environment and hence limit the effect of poverty within this setting. The model ensures people within the Flat setting deal with social and economical challenges through sharing. The sharing aspect limits the amount of cash required to possess material elements. The culture ensures those who have surplus of given commodities share with others in the spirit of togetherness and social balance. The author highlights the tactics deployed members of the social setting as based on extended family

Exchange Rate Regime - Korea Essay Example | Topics and Well Written Essays - 1750 words

Exchange Rate Regime - Korea - Essay Example On May 3, 1964, there was abolition of the official rate of Korean currency whose official rate was Won (W) 130.00 per U.S. dollar with an establishment of a unitary floating system was established on a basic rate of around W 255.00 per US dollar. There was also introduction of foreign exchange certificates that were issued by the Bank of Korea against foreign currencies that could be sold in a free market. In November 1964, there was extension in the foreign exchange certificate system for covering practically foreign exchange dealings. With the establishment of fluctuating certificate rate system in the year 1971, there has been dynamic depreciation in the Korean currency. With the devaluation in US dollar there has been reduction in the gold content of Korean currency by a percentage of 7.89%. In the month of February, the currency of Korea established link with the U.S. dollar was being controlled and there was establishment of a floating exchange rate regime ( a regime where the exchange rate is freely determined by the foreign exchange market). Running a single currency peg against the US dollar there was introduction of multiple currency basket peg in Korea in 1980.The effective rate was associated with SDR (special drawing rights) along with the combination with basket of the currencies of the major trading partners of South Korea and they are namely USA, Japan, Germany and Canada. From the year 1989, the exchange rate of Korea was being allowed to fluctuate within a percentage range against the basic rate. In the month of March 1990, there was replacement of effective rate by a market average rate (MAR). There was a managed floating exchange rate regime with determination of market forces in the interbank market and the Seoul Foreign Exchange Market. Under the system of MAR, there were fluctuations in currency of Korea being restricted within a narrow band.

Construction of Gender in Social Media Essay Example | Topics and Well Written Essays - 1750 words

Construction of Gender in Social Media - Essay Example This essay stresses that extensive research has been conducted in the past to demonstrate the correlation between gender and media. Some have included studies on different types of media like movies, cartoons, music, and games. There are various methods used in studying the kind of language used by different genders on the social media that include; content analysis and discourse analysis. This paper declares that Herring attempts to bring ideas on computer-mediated discourse as a way to show that the study of the language used in social media is of great concern. Being that most social media sites are modern, Herring acknowledges that human-human communication via computer networks is a recent thing. In her ideas, she focuses on computer-mediated language and argues that is less correct, coherent and complex. Also, she states that the language that is used on social media differs according to the cultural and social context. A careful study of this computer-mediated discourse shows that language use can reveal the identity of the user whether he is educated or not, while he is trying to mask himself. Moreover, on media, especially social media the age of user can be revealed by the content of the message that the user post. Herring assumes that the identity of the gender in social media can be expected easily by the stereotypical behaviors that are attached to each ge nder. In addition to the above studies, statistics of how men and women have been using Twitter and Instagram also holds.

Advertising Essay Example | Topics and Well Written Essays - 250 words - 5

Advertising - Essay Example The poster would say â€Å"man, that’s so ‘a part of a city, especially a slum, occupied by a minority group or groups, sequestered them based on socio-economic status† followed by something that says â€Å"think of your words.† Another example would be â€Å"that’s so ‘happy’† or â€Å"that’s so ‘person who is attracted to someone of the same gender† with the same slogan. Visually, I imagine these print campaigns being visually simple, with a black and white background portrait of a person with a serious expression. This would create the inherent connection that language affects people, and is powerful. The text is solid and bright, with a color difference between the main text and the definition text. These would encourage people to actually think of the meaning behind their words and the idea that they have power in and of themselves. Furthermore, it will make people be more critical of the language they use and how it could affect

If parents can save for only one thing, should they save for their Essay

If parents can save for only one thing, should they save for their children's college fund or for their own retirement - Essay Example That is why there are now two schools of thought when it comes to a child's college education. Either a parent pays for the child's education or they don't. Not paying for a child's education may sound unreasonable to most parents but because of economic uncertainties relating to the advancing ages of the parents, there are actually solid arguments to support the latter school of thought. Susan Adams, columnist for Forbes magazine explains that; .... it turns out that students whose educational costs are paid for entirely by their parents, engage in more leisure activities. In other words, they party instead of study. Most students don’t party so hard that they flunk out of college, but they do damage to their academic performance(Adams, Susan â€Å"Want Your Kids to Succeed? Don't Pay for Their Education†). The hard earned and saved money that the parents pour into their child's education goes unappreciated and ill spent because the children choose to take it easy in c ollege since their parents pick up the tab even for a change in college majors. It is perhaps because of the ease of life that the students have in college due to their parents shouldering the bill that has led to the current generation of lackluster college graduates. In fact, Elizabeth Armstrong, a sociology professor at the University of Michigan observed that parents had a tendency to cut back on their personal savings in order to make room for their college bound or resident children. She claimed that ; â€Å"I noticed there were a lot of parents who had to scrimp and save and pull money from all sorts of sources, and they were not getting the results they expected â€Å" (qtd. in Adams). As future retirees, parents must remember that no retiree will get a retirement loan. It is up to you as a parent to find the right balance between the educational needs of your children and your own retirement needs. Consider the following: â€Å" The choice to pay for a child’s edu cation is certainly a personal one, but most financial experts agree on one point: parents should not sacrifice their retirement funding in order to pay for their kids’ educations. â€Å" (Mayfield, Julie & Mayfield, Lindsey â€Å"Should Parents Pay for College?†). Future retirees have a tendency to save in bulk for both their retirement and the college fund of their kids. Some parents argue that because the IRA and 401 (k) allow for advance withdrawals for their children's college needs, then there is no reason that they cannot help out with tuition and other college expenses. It is after all, a penalty free withdrawal against their investments But, will still be subject to tax agreements. As a parent and future retiree it is important to keep in mind that; You are using up your retirement savings. Once the money has been withdrawn from the IRA, you can't put it back. The only way to increase your IRA balance is through the normal contributions, which are subject to the annual limits. (â€Å"Retirement Plans and Saving for College†). One of the basic reasons that parents find themselves wanting to remain involved in their children's tertiary education, even though there are methods by which a student can actually pay for his own school fees independently, is that a ... parents’ sense of efficacy for helping their children succeed in school focuses on the extent to which parents believe that through their involvement they can exert positive influence on their

Production And Operation Essay Example for Free

Production And Operation Essay 1(a). The word measure is defined as the process of approximating or estimating the magnitude of an object in relation with some units of measurement. I t usually involves the assignment of nun-negative real numbers to the subsets The term productivity is also defined as the measure of the production process output divided by the number of unit of input. For instant, labor productivity is usually measured as the ratio of the labor output per hour and input. Therefore, the quantitative aspects of the input and output are put into consideration (Christopher Voss (1984). Generally, productivity of higher education is defined in terms of how much individuals and the society as a whole are gaining from the educational sector, considering the resources that they employ. It also shows whether the system is wasteful in any way as well. The issue of productivity is looked at in two dimensions. That is, the efficiency perspective and the effectiveness perspective. Efficiency looks at the level as well as the quality of the education services obtained from the available resources. A sector that produces higher quality or greater quantity of outputs using the same resources, then it said to have improved efficiency. On the other hand, effectiveness focuses on the extent which the needs and demands of the customers are met by the providers. The stakeholders in this case include the students, local communities, faculty, the state governments and the nation at large. Therefore, it’s clear that productivity improvement is a multidimensional process which depends on the goals and missions of the particular system at hand. Under measure productivity, the general approach that is employed mostly is the development of measures of both the effectiveness and efficiency. These measures are then employed together so that productivity improvement is measured. Through the use of input and output measures, there could be either the technical efficiency ratios used to measure the physical output per unit input, or the use of economical efficiency ratios that compare and contrast the outcomes to the inputs. However, the present problems that hinder the measure of the input and the output do not make easy for the creation of these measures. Therefore, it is necessary to rely on direct measures where the resources employed by the industry are put across together with the outcome and the quality of the services. In situations where the industry produces multiple outputs, these outputs are always weighted using some criterion and then summed. b). Looking at the relationship between strategy and operations management, we first define the terms. The word strategy refers to the long term plan of actions that is designed to meet the set aims and goals. On the other hand, operations management refers to the process of ensuring that all the activities that are meant to be carried on in the industry are carried on in to achieve the set up goals and regulations. For the operation management process to be successful there has to be the long term goals that must be strategically set. These goals are the key drives of all the processes that take place in the entire industry. Therefore, the strategy used should be the one that is achievable and relevant to the operations at hand. The production management process should also be in line with the long term action plans that are set so that it will be easier to meet the set goals. The process should be handled in a formal manner in order to promote or make the whole production process easier. These set goals as well as the long term actions should be made known to the employees of the company and the public as well so that they can contribute towards the achievement of the same. For instant, in a higher education industry, they should set long term actions to produce the best students or to be the best research institutions. The goals set should be those that are achievable and the community as well as the students, the lecturers and the non teaching staff should all be informed about all these. c). The terms Cost of Poor Quality (COPQ) refers to the costs that are generated due to the production of defective materials. These include those costs that are used in bridging the gap between the desired and actual service quality and products. It also consists of the costs of losses in terms of the opportunities caused by the loss of recourses that are later used to correct the defects. COPQ includes all the labor costs, the rework costs, material costs and the disposition costs. However, it does not include the detection as well as the prevention cost. For instant, in the tourism industry can have the COPQ whereby the services offered to the tourists are not to the standard due to lack of enough accommodation or workers. Hence, to rectify this, they employ more workers and build up or renovate their buildings in order to improve there services. On the other hand the term cost of quality is widely used but mostly misunderstood. It is defined as the cost of not creating a quality product or services. This cost increases every time work is redone. For instant, in the tourism industry, they incur this cost when their workers fail to offer perfect services to the tourists as they may end up being discouraged from visiting the country again. d). A toy market that is ready to sell its new products has to follow different procedures in order to reduce the time that it will re quire to sell these products. First, there will be need for a massive advertisement either in the papers, televisions and live shows so that they can inform the consumers on the products. This in tern will keep the potential customers aware of the products in a manner that they will be encouraged to purchase these products that they will need to purchase. Another main point that the toy manufacturing company should take into consideration is the quality of the toys that they produce and sell to the customers. The toys that of good quality will definitely take less time as compared to the toys of bad quality. The price of the products, that is the price which the toys are disposed at will also affect the time that the products will take in the market. Cheap or affordable products will take short time in the market as compared to the expensive products or unaffordable products. When the company that is manufacturing the toys plans the type of toys that they produce, they should take into consideration the technology at hand and the age that they are targeting. For instant, toys are basically meaningful to the young children hence should be designed in a manner that they will be attractive to the children and can be handled by them as well. This will definitely reduce the marketing time for the new products. 2). The three basic capacity expansion strategies include the process focused strategy, the repetitive focused strategy, and the product focused strategy. These are all aimed at improving the production management and control systems as a whole. Under the process focused strategy, the available facilities are organized by the process itself and all the similar processes are put together. There is also the presence of a low volume, but high variety products, as well as the presence of a jumbled flow. This strategy has its merits and demerits in general. The advantages of this strategy are: Availability of great product flexibility that ensures that the products are modified incase of any need. Availability of more general equipment that are used to handle many tasks at a time. And there is room for low capital investment thus even the poor can afford to invest in the business. The disadvantages are: Need for very highly trained personnel which expensive to higher and fire. Availability of more difficulty production planning control process that needs a lot of money to run and consumes a lot of time. And poor equipment control process hence more expense to organization since these equipments may spoil any time or get lost. Under the repetitive focused strategy, the facilities are often organized by the use of assembly lines. It is mainly characterized by the use modules which are combined for many output options (Philip E. Hicks (1919). The advantages of this strategy are that it is seen to be more structured than the process focused strategy and enables Quasi-customization. It also enjoys economical advantage of a continuous process since it makes maximum use of modules. The product focused strategy has facilities that are organized by the products (Jay Hezier (1996). There is also room for high volume, low variety products and is usually found in the discrete unit manufacturing company and the continuous process of manufacturing.The advantages of this strategy include: Lower variable costs per unit which reduce the production costs in general leading to reduction in selling prices. Availability of lower but more specialized labor skills hence production is efficient and meets the demands of the consumer. Possibility of easier production planning and control hence saves time and reduces production cost as well. And the presence of equipment utilization and maintenance. The disadvantages are: High probability of lower product flexibility Need for more specialized equipments that are expensive And need for a very high capital investment thus closes doors for the poor in the society. 3). It is not easy for the jobs to be designed as well as be incorporated in order to meet all the characteristics in the principles. However, it is important to note that jobs should form a coherent whole independently or through involving the related jobs. The whole performance of the job should ensure that there is a significant contribution to the completion the services and the products (Meric S. Gertler (2004). It should also ensure that there is provision of a variety of pace, location, method and skills that are necessary. It should also provide feedback of the performance to the other people directly. Discretion and time control should be given chance as well as the sequence and the pace of work efforts. The job should also ensure that some responsibility for outcomes is included; there is room for learning and problem solving within the competence of the individual. It should also be done in a way that it leads towards a desirable future. The individuals should be free to develop in a way that they find relevant. Job specialization is defined as the process of separation of the organizational activities into tasks that are distinct and involves the process of assigning different tasks to different people. On the other hand, job enrichment is seen as the motivation of employees by giving opportunities to them in order to range heir abilities. For instant, in an institution that deals with learning, there are different departments that deal with different things at a time. Each department has its heads that are the key decision makers. A job that is enriched has a variety of tasks as well as varying challenges in difficulties, a meaningful work, has a feedback, encouragement and good communication. Â  Job enrichment includes the process of turning the employees’ efforts into performance, links the employee’s performance to the rewards directly, and makes sure that the employees are interested in the reward. For instant, in an organization, employees who have performed well in their work are given promotions at the end of a certain period of time in order to motivate them. On the other hand, job specialization ensures that the employees are good in a particular section as compared to the other sections hence can work best when given the chance of working there. In most cases, it does not involve rewards but takes into consideration the ability of the employee and the experiences at hand (Richard B. Chase (1998). Job specialization also ensures that there is decentralization of activities and powers. Decisions here are made at the different levels depending on who is in charge of the area affected. This does not apply to the case of job enrichment since the main aim here is to motivate the employees References Richard B. Chase (1998). Production and Operation Management. McGraw-Hill College, ISBN007517102 Jay Hezier (1996). Production and Operation Management. Prentice Hall PTR, ISBN0132444844. Meric S. Gertler (2004). Manufacturing Culture: The Institutional Geography of Industrial Practice. Oxford University Press, ISBN0198233825. The Encyclopedia Americana: A Library of Universal Knowledge, page 484. Philip E. Hicks (1919). Industrial Engineering and Management. McGraw-Hill, ISBN0070288070. Christopher Voss (1984). Research in Production/Operations Management. Gower Pub. Co., U.S.A, ISBN 0566007592

Sustainable Architecture and Design

Sustainable Architecture and Design Sustainable, eco-friendly architecture can often be seen as the radical hippy of neo-liberal architectural discourse, with its practical application in the 21st century limited and problematic. Is there space for the synergy of idea in this regard, producing usable and practical or whimsical and gracious buildings that also adhere to the classical ideas of beauty and proportion? Sustainable[1] and eco-friendly architectures[2] were the subject of much left of centre discourse throughout the 1960’s and 1970’s against the backdrop of late Modernism and the initiation of constructed, clean post–Modernity. They were in opposition to the shock of the ‘new’ the marvels of concrete and structural steel and the innovations that supported closed environments such as elevators and air-conditioning. The seemingly ‘hippy’ applications of buildings that suited the environment, responded to them, and trod lightly in their space appeared irreconcilable in the context of the masculine, rational and spare elements of Modernity. The fear that beauty[3] could not exist in a mixed relationship, that a building could be both environmentally friendly and be visually appealing was not always an option in the hegemony of late modernism. However, this paper discusses the synergies that arose from these apparently oppositional ideas. The modernist era of tower blocks and buildings that fitted in with the ‘form follows function’ premise, ignored the possibilities of working with the environment and also being informed by it. The post-War building boom was expeditious, masculine and prolific, with the modular systems of the International Style informing all of the above. The shock of the new, invention and innovation left little space for the architectures engaging with the environment or the vernacular textures. Issues of sustainability were very much part of a neo-liberal brief, and disregarded by the world order of the time who had not yet woken up to the issues regarding the depleted ozone layer and greenhouse gas emissions. However, occasionally, there was minor dissent, particularly in the British colonies, where the imposed architecture of the colonist had been, to some extent environmentally adapted by the settlers using vernacular materials and adapting some elements of the indigenous building systems that they found there. Throughout this, though, the prevailing post-War building idiom of the mother country was largely retained, adaptability being one of the successes of Modernism. Those careful and socially conscious architects that contested the climatically and culturally inappropriate imposition of modernism strove to combine old and new materials and old and new technologies to create regionally appropriate buildings that were a vernacular in their own right and yet a new architecture that combined all the radical notions popular in the hippy culture of the late 1960’s. Norman Eaton, a South African, was cognizant of environment and reduction of the air-conditioning loads when he designed his Netherlands Bank Building (1965) in Durban, South Africa, a five level building where the building stands on a white marble podium and forms a pavilion in the centre of the high-rise urban fabric. The external curtain wall is replaced by a brise-soliel of green ceramic hollow clay blocks forming a massive sunscreen and significantly reducing the air conditioning loads in a hot, humid climate. ‘The unbroken expanses of ceramic screening were the result of Eaton’s approach to the challenge of Durban’s heat and were not employed for aesthetic effect alone. The open and yet cool aspect of the interior and the considerably reduced load on the building’s air conditioning system testify to the screens functional success. Behind the screen and invisible from the outside a second curtain wall, this time of glass, also covers the building, so that all internal levels are well lit but at the same time well protected against the glare and heat of direct sunlight.’ (Haropp-Allin; 1975: 107) Visually, although the building is a regionalist adaptation of what was a prevailing modernist format, the building and its incorporated garden spaces provides cool relief and a refuge in a hard edged landscape.[4] Almost two decades later, the Australian John Andrews in his Eugowra Farmhouse, New South Wales, (1979) maximized the orientation of the building such that he combined the use of prevailing winds for cooling in the Australian outback together with a central fireplace for heating. A prominent rainwater tower in the centre of the roof is both a strong vertical element, creating ‘architecture’ and at the same time harvesting water which is a critical necessity in the arid environment. This element is also able to spray water onto the roof for cooling in extreme weather. This was all combined using modern materials in a vernacular idiom combined with a classical symmetry, producing a gracious neo-outback veranda house. With these examples quoted above, a strong sense of regionalism is implicit in the sustainability and the environmental generators that form the ‘natural’ brief. For a building to be modern, beautiful and environmentally sustainable, it follows that the structure should be in a regionalist ‘idiom’ using modern materials housing modern facilities, with the incorporation of some of the vernacular, as the meaning of the site and the climate is by definition a regionalist issue. It was not only in the antipodean regions that this critical discourse was occurring. From the beginning of the 1960s, a number of papers and publications supporting the architecture of the vernacular and its many manifestations, connecting this to environment, culture and landscape, spawned the radical publications such as ‘Shelter’ (1973) which explored the notions of building using traditional materials, textures and forms, and adding to this sustainable methods of drainage, rainwater capture, foundation formation and environmentally friendly methods of heating and cooling. This treatise however was aimed at people pursuing more of an alternative lifestyle, using the landscape and other culture’s building methods to house them in an ecologically sustainable fashion. More conventional publications such as the work of Fitch in 1960, and the works of Rudofsky (1965) and Rapaport (1969) explored the connections between climate, landscape and culture. They investiga ted the traditional means by which building were constructed to address all the social and climatic constraints that produce sustainable buildings that tread lightly on the landscape and do not need large amounts of extra resources such as heating, cooling, and electricity consumption. These publications were still way left of the conservative centre, and not embraced by the rapidly mechanized northern countries. Few architects in the formal sector were prepared to stick their necks out in this regard, leaving the alternative housing solutions to those that pursued alternative lifestyles. A marked example does, however, stand out- Paolo Solieri, a student of Frank Lloyd Wright conceived of his Arcosanti Project in 1970, where some 70 miles north of Phoenix, Arizona, a compact complex hoping to eventually house some 5000 people is designed in a way such that the outside arable land is maximized, the living areas are condensed providing ready access to open desert for all dwellers, an d a number of large greenhouses provide food for the inhabitants. These structures also act as solar collectors for winter heat. Solieri’s aim was to design an urban environment that would function in a manner providing the maximum social, economic and health benefits, as well as treading lightly on the landscape on which it sits minimizing the effects on the earth. His principle of ‘arcology which married the ideas of ecology and architecture is described below. In nature, as an organism evolves it increases in complexity and it also becomes a more compact or miniaturized system. Similarly a city should function as a living system. It must follow the same process of process of complexification and miniaturisation to become a more lively container for the social, cultural and spiritual evolution of humankind. The central concept around which these developments revolve is that of arcology- architecture and ecology as one integral process. Arcology is capable, at least theoretically, of demonstrating positive response to the many problems of urban civilization, population, pollution, energy and natural resource depletion, food scarcity and quality of life. Arcology is the methodology that recognizes the necessity of the radical reorganization of the sprawling urban landscape into dense, integrated, three- dimensional cities in order to support the complex activities that sustain human culture. The city is the necessary instrument for the evolut ion of humankind. Paolo Soleri (Arcosanti Workshops 2000 pamphlet) The Cosanti-Arcosanti pamphlet notes that Newsweek commented that ‘As urban architecture, Arcosanti is probably the most important urban experiment undertaken in our lifetime’ (Cosanti-Arcosanti pamphlet; 2000) However, despite this accolade by the popular, ‘thinking’ press, the project, nearly four decades later, struggles along still in the construction process, and is more of a site for those people that pursue the alternative than people living mainstream, corporate lifestyles. As a site it is a museum, a school, a point of pilgrimage. For very few people, it is a lifestyle. Bringing these combined issues of ecological, social and economic sustainability, to the forefront, making them trendy and implicit, has been the largest challenge to the production of sustainable architectures. The realisation that the construction industry and the operation of the buildings that it makes, as Hyatt quotes (himself and) Edwards (Hyett in Abley Heartfield;2001:30) ma kes it ‘responsible for 50% of ‘all energy resources consumed across the planet, making the construction industry ‘the least sustainable industry in the world’. This fact has taken a while to entrench itself in ‘first world’ industry. Issues of sustainability and appropriate technology are not new- as mentioned earlier they formed the basis of developmental jargon in the ‘Third’ World. Sustainability in architecture as a technical approach in the management of particular resources has been the subject of discussions in the last three decades, with the 1975 ‘Alternatives to Growth’ conference which expanded the definition realizing the limits of a static- state economy: this time sustainability fell within the realms of the economists and not the built environment practitioners. Then, the issue of the control of technology by the Northern Hemisphere was dealt with by Willy Brandt who, in 1980, led the Independent Commission on International Development Issues, producing a report headed ‘North- South- A Programme for Survival’. (Heartfield in Abley Heartfield; 2001:97) Here, the connections between sustainable development and appropriate technology were made, entrenching the i dea of appropriate technology in a developing country context. This was almost fatal, as Heartfield notes ‘What appropriate technology meant for the less developed world was the lowering of expectations; less capital input, less expenditure, less technology.’ (Ibid;97) Perhaps this perceived ‘lower’ level of existence is one of the reasons why the plea for incorporation of these ideas of sustainability in the northern hemisphere fell largely on deaf ears. ‘It could be said that sustainability is a fudge. It raises all the same presuppositions of the limits to growth thesis, that absolute resource limits are upon us, but avoids their implied conclusion, a moratorium on growth. What the concept of sustainability preserves of the ideology of limits is the sentiment of constraint and parsimony.’ (Ibid;97) Finally, the Bruntland Report [5] submitted in 1987 is seen by Heartfield as being credited with the ‘popularizing of the concept of sustai nable development.’ (Ibid:96). However, although this may have made the concept more digestible, it did little for popularizing its practice, for, as the Bruntland Report, quoted in Heartfield states- ‘Sustainable development requires that those who are more affluent adopt lifestyles within the planet’s ecological means’.(Ibid:97) Despite this so called acceptance, a much later technical work in a somewhat a pleading tone, by Crowther notes that ‘The ecologic responsibility is to ourselves and the global legacy of human habitation. Every choice made from concept, to design, to realization is a demand that results in ecologic and biologic consequence.’ (Crowther;1992:vii) However, the throwing of these twentieth century gauntlets such as that by Crowther has received results in latter years. Prototypical examples as that presented by Pearson in his Gaia House (Pearson;1989:40-41) may have influenced some of the challenges to be presented; the principles in his charter declare ‘Design for harmony with the planet, Design for peace for the spirit, and Design for the health of the body. The first instruction involves the use of ‘green materials’ that have as embedded qualities ‘low environmental and social costs’, which are ultimately bio-degradable and can be or are recycled. Together with this the importance of correct orientation, the use of all the elements for energy including wind, recycling grey water and collecting rain water all add to the minimized impact on the soil. Pearson also mentions the need to maximize the efficiency of the natural spaces by planting indigenous trees and flowers. (Pearson;1989:40) It was only recently, with the building explosion on the Pacific Rim, and the attacks on the World Trade Centre, that the northern hemisphere began to seriously address these issues of sustainable construction, particularly in the densely populated cities of Europe. In October 2001, the Royal Institute of British Architects (RIBA), hosted a conference that was to address the issues of creating environments that addressed issues of sustainability. This conference, ‘Sustainability at the cutting edge’, ‘was to provide an overview of the science and technology behind sources of renewable energy which would assume prominence in the next decade. This review was placed in the context of increasing concern about the impact of climate change and the fact that the built environment in countries like the UK is the worst culprit in terms of carbon dioxide emissions.’ (Smith,2003;xi) This quotation, from Smith’s technical work, emerged from this gathering. More of a handbook, it examines environmentally sensitive options for heating and cooling, and offering the option for drastically reducing emissions in urban buildings in an environment that (now) tacitly accepts the need for ecological architecture. A number of approaches which demonstrate the sensitive manipulation of all elements of the brief to create an ecologically sound, a culturally sensitive, a socially appropriate and an economically viable building have come to light, many of which employ much of Pearson’s First Principle as mentioned above.[6] The examples fulfill a variety of scales of development, and different intensities in terms of sustainability with regards to site. On the one hand, it is sadly disasters that prompt new innovative methods of shelter, in a modular though aesthetic form. Out of the Hurricane Katrina catastrophe came the Modular Transitional Growth Housing (MTGH)[7] a conceptual system that consists of a number of elegant forms which can be bunched together in a variety of forms and combinations to shelter, recycle, light and cool. Architect Philippe Barriere introduces a BioClimatic design element with high ceilings and naturally stimulated ventilation which assists in the above. However, this highly conceptual modular structure is on the knife edge of socially practical and Marxist zeal- seen as an approach that can solve a multitude of housing problems from disaster relief to inner city complexes to fishing retreats, the reality of its implementation is as conceptually choppy as Arcosanti- mass appeal is visual but not implicit. A more practical and tangible solution to a mass housing challenge is the Greenwich Millennium Village (GMV) by Ralph Erskine, (a veteran of inner city housing in his seminal Byker Wall Project at Newcastle-upon-Tyne) together with EPR Architects Limited.[8] The concept is the total regeneration of the Greenwich Peninsula, particularly the site of the former gasworks, where the Millennium Dome[9] stands. Its proximity to central London and the City mean that its viability as a dormitory suburb on bus and train routes is practical. The discourse as to how to reuse ‘brownfield’ sites is to some extent resolved here, with the ultimate provision of some 900 residences by the end of 2007 with expansions continuing till 2015. The most important feature of this project is that a newly formed community is occupying the apartments that cater for a variety of different ‘social classes’, with a series of amenities such as an ‘eco-park’ green space, as well as office and retail developments. Using a prefabricated system, the buildings are hardy, but incorporate a generous use of colour. From the perspective of the environmental sustainability point of view, the rainwater is collected, grey water is recycled, insulation is good, which minimizes overheating by artificial means in winter, and the use of recycled materials such as timber, street furniture, and concrete has been a priority (GMV Fact Sheet 5[10]). Maximum efficiency is critical to the brief and in this regard, the website offers the following information- The need for artificial lighting is minimized by the provision of large windows meaning less running costs. These windows are made from environmentally sustainable material, and are also well insulated and draught proofed. Thermally, the buildings are constructed to standards 10% higher than the national standards, which assist in the reduction of emissions. Also, the highly coloured paint is specially chosen for its non-toxic values, and is a non-polluting paint. Water saving devices are used in all sanitary fittings, and plumbed appliances. The rooms in the apartments have sliding sections that maximizes flexibility and enables multiple uses of living space[11]. Power is supplied by a combined heat and power system (CHP) where the generated heat (as opposed to the generated power) is put to use. Excess power is sold off to the national grid (GMV Fact Sheet 4[12]) The energy constraints that were used as a benchmark in the design process ranged from the amount of energy required for manufacture, to the contribution their manufacturer makes to greenhouse gas emissions. The success of this project thus far has meant that the developers were the first large developers in the United Kingdom to be awarded the ‘Excellent Eco-Homes’ rating which is an incentive submitted by the Building Research Establishment to promote the construction of eco-friendly domestic buildings. This is certainly a far cry from the establishment’s attitude a few years ago! The multi-award winning BedZED (Beddington Zero Energy Development) completed in 2002 through the Peabody Trust with Bill Dunster Architects also puts these principles into practice. The mixed-use and mixed-tenure development of BedZED is the UK’s first and largest ‘carbon-neutral eco-community’, also built on a ‘brownfields’ site[13] in Sutton, near London. The concept behind the project was to produce as much energy from renewable sources as it consumes, creating a net zero-fossil energy development, and therefore a ‘carbon-neutral development’; it thus provides no net addition of CO2 to the atmosphere[14]. Smith describes the development as ‘a prescription for a social revolution; a prototype for how we should live in the twenty-first century if we are to enjoy a sustainable future. (Smith;2003:153) The BedZED design concept is itself a model of flexibility, with a variety of different forms of accommodation as well as different types of tenure. Altogether there are 82 homes of different sizes, some for sale and others rental units aimed at social housing income levels. Amenity is also important, cementing social sustainability, with facilities such as a kindergarten, health centre, commercial use node, exhibition centre and an organic shop! Environmental sustainability is ensured through the construction of massive walls that store heat for release in cooler periods. Also, a 300mm rock-wool insulation (Smith; 2003:54) provides for extra insulation on both the walls and the roof. The windows are triple glazed. Orientation plays a large part in the energy efficiency of the buildings, with north facing elevations of office and commercial space optimizing the softer light and minimizing the need for air-conditioning, whilst the homes, which benefit from the warmer orientation, face south. Low energy lighting is used where needed to assist in the reduction of electrical output. As with GMV, the choice of materials was dependant on their low embodied energy, and were sourced from suppliers as close as possible to minimize transport energy costs. The use of timber from sustainable sources, recycled materials, grey water recycling, solar power, and roof gardens serve to embed the environmental responsibility. Power is also supplied by a CHP plant. A critical point about BedZED is the minimizations of vehicle use- residents are encouraged through education and the ‘Green Transport Plan’ to promote alternative means of transport such as walking and cycling.[15] Also, the provision of efficient public transport means that the reliance on motor cars can be reduced. A larger infrastructural solution is that of the Vastra Hamnen waterfront development at Malmo in Southern Sweden. This used to be a ‘brownfields’ site that was part of the old dockyard. A number of architects including Erskine are involved with the project. The city was participant in the forming of the brief, dictating colour, ecological rigour, provision of park space, and minimal building performance. A wind turbine provides a large source of energy. Again, the complex is socially mixed, minimizing the potential for creating class-based residential neighbourhoods and there are shops on the street level, with the intention that the owners live above them. As in the previous example, the streets are car free and a pool of electric vehicles which are powered by wind energy is available to transport residents to town. Sewage enters the main system in the city, but other waste is dispensed of internally, where residents dispose of food in one tube and then dry waste in an other. The tubes lead to common disposal sites where the dry waste is incinerated and the food is composted providing biogas which returns to the occupants through the gas main. Smith considers this project as one that has ‘achieved reconciliation between market forces and environmental priorities.’ (Smith;2003:144) The single-building environmentally-efficient challenge was taken up by Sir Norman Foster and his partner Ken Shuttleworth in the Swiss Re Headquarters building, St Mary Axe. It remodeled a conceptual idea developed by Sir Buckminster Fuller and Foster in 1971 called the ‘Climatroffice’ which ‘suggested a new rapport between nature and workspace; its garden setting created a microclimate within and energy conscious enclosure, while its walls and roof were dissolved in a continuous triangulated skin. (Walker in Heartfield Abley;2001:207) Swiss Re was completed in 2004. It is notably the first building of its kind in England to manipulate environmental conditions to minimize air-conditioning, wind loads etc. The forty floors are designed as a series of rectangular plates that spiral up the building, assisting in daylight entering the building and reducing the amount of artificial lighting (Powell;2003:219) Revival of and recirculation of stale air is facilitated by roof gardens, also known as ‘bioclimatic terraces’ which re-oxygenate the building. These roof gardens are also used as social gathering spaces, which aids in increasing the quality of the work place. Most of the ventilation is natural, and unlike many buildings of its kind, the windows can all open. The base of the building has been formed to minimize wind load on the building and to minimize the creation of wind corridors so often found at street level in cities. (Powell;2001:219) The new age commitment to the environment and the lessening of emissions is often approached with zeal- Artist Freidensreich Hundertwasser was approached by the Mayor of Vienna to remodel the Spittelau Energy Plant. At first he turned it down, opposed to the assumed ecological failings embodied in the project. However, after assurances that the remodeling of the plant would be including the provisions for drastically reducing emissions, he took on the project for free. Working together with Architect Peter Pelikan, the industrial faà §ade was remodeled into a whimsical parody, where ‘The power plant†¦.. shows how to foreground the open creative spirit in harmony with nature and the anonymous city’ (Asensio;2003:31). Although this is not necessarily as direct an example as some of the new constructions mentioned above, I suggest that it is valid, given that the pressure to reuse buildings is a large part of architectural discourse, and is itself a tactic of sustaina bility and environmental recycling, the ‘greening’ of them in terms of minimizing emissions, changing technologies, and in this case mitigating the massive industrial-ness of the power station, makes it more socially environmentally friendly for the residents of Vienna. In the introduction to New Architecture in Britain, Powell states: ‘the future of architecture, in Britain and elsewhere is linked to such vital issues- the fate of our cities, the housing crisis and the protection of the earth’s fragile environment- that discussion of style seems almost irrelevant.’ (Powell;2003:20) This statement, in a glossy publication of contemporary architecture is a far cry from the plea made by Crowther less than a decade ago[16]. Whilst I agree with Powell that the language of architecture is changing, as it always does, the discussion of style is not irrelevant- low budget beauty and elegance is provided by the (highly theoretical) MGTH project, a mix of economic and social strata is contained in the Greenwich Millennium Village, a bold development more agreeable with the Vitruvian ‘Commodity and Firmness’, the BedZED and Vastra Hamnen developments that limit motor vehicles and provide the use of electric cars. Ironically, i t is perhaps the Swiss Re building, as Powell suggested in his 2001 volume ‘(that) reinforces the point that office towers can be distinctive, even beautiful, objects that complement, rather than deface, the skyline.’ (Powell;2001:219) which has managed to push the issue of sustainability and its connection with the very possibility of aesthetic beauty in the Vitruvian model into the forefront of populist architecture. However, we must not forget, in the clamour of the new, those early visionaries that promoted the values of engaging with the environment and treading with sensitivity. The investigations into the connection between culture, landscape, environment and architecture that informed the basis of the approach to the buildings built today, were seminal works of their time, situated in an alternative environment that was far too left of the modernist mainstream to find favour. But we can also feel thankful that finally, the discourse of environmentally friendly architecture has emerged in the mainstream- let us hope that it is not too late. References: Abley, I Heartfield, J (2001) Sustaining architecture in the anti-machine age Chichester, Wiley-Academy Andrews, J (1982) Architecture : a Performing art Lutterworth Press Asensio, P(2003) Freidensreich Hundertwasser Barcelona, LOFT Publications Cosanti Foundation(2000) Arcosanti Workshops 2000 (pamphlet) Phoenix, Cosanti Cosanti Foundation(2000) Cosanti-Arcosanti (pamphlet) Phoenix, Cosanti Crowther, R(1992) Ecologic architecture Massachusetts, Butterworth-Heinemann Curl, J (1999)Oxford Dictionary of Architecture Oxford, Oxford University Press Fitch, J(1960) Primitive Architecture and climate from Scientific American, December p134-144 Harrop-Allin, C(1975)Norman Eaton, Architect- a study of the work of the South African Architect Norman Eaton 1902-1966 Johannesburg, C Struik Publishers Marschall S (2000) Opportunities for Relevance Kearney, BPretoria, University of South African Press Pearson, D(1990) The Natural House book London, Conran Octopus Powell, K(2003) New architecture in Britain London, Merrel Powell, K(2001) New London architecture London, Merrel Rapaport, A(1969) House form and culture Prentice Hall Rudofsky, B (1965) Architecture without architects: a short introduction to non-pedigreed architecture New York, Museum of Modern Art Shelter Publications(1973) Shelter United States, Shelter Publications Smith, P (2003) Sustainability at the cutting edge : emerging technologies for low energy buildings Oxford, Architectural Press Vale, B(1991) Green architecture design for a sustainable future London, Thames and Hudson Websites: http://www.greenwich-village.co.uk/index_main.htm (17.06.07) http://www.arcosanti.org/ (17.06.07) http://www.peabody.org.uk/pages/GetPage.aspx?id=179 http://www.inhabitat.com/2007/0 6/15/prefab-friday-modular-transitional-growth/#more-4683 (17.06.07) 1 Footnotes [1] Sustainability as an idea was a large component of ‘development speak’ in the context of poverty and limited resources. This embraced notions of community participation as well as optimizing resources. [2] The Oxford Dictionary of Architecture notes that ‘ecological architecture- Aims to respond to declining energy resources, eg using energy conservation, efficient insulation, rainwater, solar radiation, and wind power, and recycling as much as possible. The term was coined in the 1970’s’ (Curl;1999;220). Similarly, ‘green architecture- Buildings designed according to energy-saving criteria and the reduction of pollution.’ (Ibid;288). [3] From the third chapter of Vitruvius De Architectura comes the definition of beauty in architecture as firmitas, utilitas, venustas or Commodity, Firmness and Delight. The practicality of the building, as well as its robustness is as important as its beauty. [4] The necessity to incorporate en

Effect of Demographics on the Choice of Investments

Effect of Demographics on the Choice of Investments It has been observed that over the last decade the Income of the third world countries such as India, China and Indonesia has grown at a high pace. As the wealth of the people increases they will have confidence in the markets and start investing in financial products. This research paper deals with the investment decisions of all individuals across different income groups, age, gender etc. and tries to identify the affect of demographic factors on the decision making investors The study aims to find out if the demographic factors of an individual namely his age, income, gender, savings, source of income and investment experience have any effect on the patterns of investment and hence affect his risk taking ability. Advanced quantitative techniques have been used to investigate the data and judgment has been given on the basis of statistical output. The results would help the managers in the Wealth Management process in advising their clients better regarding investments that are most suitable according to their demographics and personality type. The study provides evidence that the investment choice depends on and is affected by the demographic variables. Introduction India, China and Brazil showed the highest growth in the number of HNIs in the year 2007 (The world wealth report 2008). The growth in the exposure that these markets have still remains untapped as they have only 3 percent exposure to equities. As the wealth of the people increases they will have confidence in the markets and start investing in financial products. In the 1970s and early 1980s, researchers found enough evidences that the markets are efficient and investment decisions are taken rationally. However, over a period of time there have been major challenges to the rationality assumption. Such challenges, coming from behavioral finance, continue to advance the argument that the traditional finance theorys predictive power is no match to what investors observe and experience in the markets, in reality. Behavioral finance is a new emerging science that exploits the irrational behavior of the investors. According to the behavioral economists, individuals do not function perfectly as the classical school opines. Weber (1999) makes the observation, à ¢Ã¢â€š ¬Ã…“Behavioral finance closely combines individual behavior and market phenomena and uses the knowledge taken from both psychological field and financial theoryà ¢Ã¢â€š ¬?. The key result of a behavioral finance-enhanced relationship will be a portfolio to which the advisor can comf ortably adhere while fulfilling the clients long-term goals. This result has obvious advantages which suggests that behavioral finance will continue to play an increasing role in Wealth Management The study aims to find out if the demographic factors of an individual namely his age, income, gender, savings, source of income and investment experience have any effect on the patterns of investment and hence affect his risk taking ability. Quantitative techniques shall be used to investigate the data and the decision will be given on the basis of the analysis. The results would help the people involved in the Wealth Management process in advising their clients better regarding investments that are most suitable according to their demographics and personality type. Objective The objective of this paper is to investigate how the investment choice is affected by the demographics of the investors, once we study the choice effecting variables, we will use past data and monitor what have been the returns achieved from such proportion of investments and we shall determine the ideal portfolio and mix in the portfolio. Such knowledge will be highly useful for financial advisors as it will help them to advise their clients regarding investments that are appropriate with respect to their demographic profiles. Literature review A number of studies have been conducted to study how risk tolerance varies with the individual demographics, such as, gender, age, education, income, etc. Most of these studies have, however, concentrated on exploring the gender differences in investment choice. Harlow and Keith (1990) found that women prefer low risk bets when asked to make choices in an experimental market environment, involving auctions and lotteries (Olsen and Cox, 2001). Experimental evidence suggests that women may be more risk averse towards gamble (Hershey and Schoemaker, 1980). Large-scale one-on-one attitude surveys by the Investment Company Institute and SRI International in the year 1996 and 1997 respectively, also revealed that women tend to prefer lower risk assets than men. (Olsen and Cox, 2001). Women hold less risky assets than men (Jianakoplos and Bernasek, 1998) and they also choose less risky alternatives (Powll and Ansic, 1997). Women exhibited less risk-taking behavior than men in their most recent, largest and riskiest mutual fund investment decisions (Dwyer et al., 2002). Women are more risk averse than men in gambles, investment frames with possibility of loss and gamble frame with no losses (Eckel and Grossman, 2003). Brynes and Miller (1999) have studied and investigated the relationship between risk and gender and concluded that women tend to take less risk than men (Olsen and Cox, 2001). Women are less likely to invest in riskier but high return assets than men (Mc Donald, 1997). However, the empirical investigation of gender difference in risk taking is inconclusive (Charness and Gneezy, 2004). While most research conducted prior to 1980 concluded that gender difference clearly exists, more recent research studies yield mixed results (Changanti and Parasuraman, 1996; and Powell and Ansic, 1997). Males and females are equally successful in taking decisions under conditions of risk (Hudgen and Fatkin, 1985). They are equally effective in the leadership role (Eagly et al., 1995) and are equally capable of processing and reacting to information (Stinerock et al., 1991). As businessmen/women, many studies have found similar level of performance for women-owned business as those which are owned by men (Kalleberg and Leicht, 1991; and Fischer et al., 1993). In an abstract lottery choice, Schubert et al. (2000) framed choices as either potential gain, or potential loss. They found that women are more risk averse than men in domain of gain, while men are more risk averse than women in the frame of loss domain. Women fund mangersà ¢Ã¢â€š ¬Ã¢â‚¬ both domestic and internationalà ¢Ã¢â€š ¬Ã¢â‚¬ hold portfolios which are marginally riskier than those of men, and their returns also outperform those of men (Bliss and Potter, 2001). Women were found to be less risk averse than men when the gambles were framed as insurance (Duda et al., 2004). Although, the impact of gender on risk taking is significantly weakened when investor knowledge of financial markets and investments is controlled in the regression equation, the greater level of risk aversion among wome n, which is frequently documented in the literature, cannot be completely, explained by knowledge disparities (Dwyer et al., 2002). In the Indian context, Gupta (www.info.gov.hk/gia/general/bandhk/1118105.html) has indicated that from the angle of investor protection, the regulation of the new issue market is important for several reasons. The number of small investors in new issue market is massive. Most of new investors make their first entry into equity investments via the new issue market. So retaining common investor confidence in primary markets is important. Madhusoodan (www.nyse.com/press/NT00545421.html) has indicated that in the Indian stock market, higher risk is not priced, hence investment in higher risk instruments is of no use. Kakati (www.investorclaims.com/html/bokermisconduct.html) has indicated that Indian IPOs are under priced in the short run and overpriced in the long run. Selling after allotment, around the listing month, is the cause of major return differences between IPOs performance in the short run and long run. Gokaran has studied the financing patterns of the corporate growth in the country. The study indicated that equity markets suffer serious inadequacies as a mechanism for raising capital. Murali (www.ssrn.com) has indicated that new issues market (NIM) focuses on decreasing information asymmetry, easy accessibility of capital by large sections of medium and small enterprises, national level participation in promoting efficient investments, and increasing a culture of investments in productive sector. In order that these goals are achieved, a substantial level of improvement in the regulatory standards in India at the voluntary and enforcement levels is warranted. The most crucial steps to achieve these goals would be to develop measures to strengthen the new issues market. To effectively and efficiently serve clients in todays competitive industry, financial planners increasingly rely on information technology. The larger the financial planning firm, the more critical the use of information technology becomes as its applications extend to areas outside financial planning such as payroll, accounting, marketing, and operations. This article proposes the establishment of a new research discipline, financial planning informatics, which focuses on the development of technology tools to support the unique needs of financial planners. We live in the information age. Information is the result of processing, manipulating, and organizing data in a way that creates new knowledge (Rahman 2006). A number of studies have been conducted to study how risk tolerance varies with the individual demographics, such as, gender, age, education, income, etc (Schooley Worden, 1996; Shaw, 1996; Xiao Noring, 1994; Watson and Naughton, 2007). Most of these studies have, however, concentrated on exploring the gender differences in investment choice. The impact of other demographic factors, such as, age, education, income, occupation and dependents on investment choice has not been investigated by many researchers. But whatever studies have been done suggest that they (other demographic factors) affect individuals investment decisions. Risk tolerance, a persons attitude towards accepting risk, is an important concept which has implications for both financial service providers and consumers. For the latter, risk tolerance is one factor which may determine the appropriate composition of assets in a portfolio which is optimal in terms of risk and return relative to the needs of the individual (Droms, 1987). In fact, the well-documented home country bias of investors may be a manifestation of risk aversion on the part of investors (see Cooper, and Kaplanis, 1994 and Simons, 1999). For fund managers, Jacobs and Levy (1996) argue that the inability to effectively determine investor risk tolerance may lead to homogeneity among investment funds. Further, Schirripa and Tecotzky (2000) argue that the standard Markowitz portfolio optimization process can be optimised by pooling groups of investors together with different attitudes to risk into a single efficient portfolio that maintains the groups average risk tolerance. Although a number of factors have been proposed and tested, a brief survey of the results reveals a distinct lack of consensus. First, it is generally thought that risk tolerance decreases with age (see Wallach and Kogan 1961; McInish 1982; Morin and Suarez 1983; and Palsson 1996) although this relationship may not necessarily be linear (see Riley and Chow 1992; Bajtelsmit and VanDerhai 1997). Intuitively this result can be explained by the fact that younger investors have a greater (expected) number of years to recover from the losses that may be incurred with risky investments. Interestingly, there is some suggestion that biological changes in enzymes due to the aging process may be responsible (see Harlow and Brown, 1990). More recent research however, reveals evidence of a positive relationship or fails to detect any impact of age on risk tolerance (see Wang and Hanna 1997; Grable and Joo 1997; Grable and Lytton 1998, Hanna, Gutter and Fan, 1998; Grable 2000, Hariharan, Chapman a nd Domian, 2000; and Gollier and Zeckhauser, 2002). A second demographic which is frequently argued to determine risk tolerance is gender and Bajtelsmit and Bernasek (1996), Palsson (1996), Jianakoplos and Bernasek (1998), Bajtelsmit, Bernasek and Jianakoplos (1999), Powell and Ansic (1997), and Grable (2000) find support for the notion that females have a lower preference for risk than males. Grable and Joo (1999) and Hanna, Gutter and Fan (1998) however, find that gender is not significant in predicting financial risk tolerance. Education is a third factor which is thought to increase a persons capacity to evaluate risks inherent to the investment process and therefore endow them with a higher financial risk tolerance (see Baker and Haslem, 1974; Haliassos and Bertaut, 1995; Sung and Hanna, 1996). Shaw (1996) derives a model which suggests an element of circularity in this argument however, as the relative risk aversion of an individual is shown to determine the rate of human capital acquisition. Income and wealth are two related factors which are hypothesised to exert a positive relationship on the preferred level of risk (see Friedman 1974; Cohn, Lewellen, Lease and Schlarbaum 1975; Blume 1978; Riley and Chow 1992; Grable and Lytton 1999; Schooley and Worden 1996; Shaw 1996; and Bernheim et al, 2001). For the latter, however, the issue is not clear cut. On the one hand, wealthy individuals can more easily afford to incur the losses resulting from a risky investment and their accumulated wealth may even be a reflection of their preferred level of risk. Alternatively, wealthy people may be more conservative with their money while people with low levels of personal wealth may view risky investments as a form of lottery ticket and be more willing to bear the risk associated with such payoffs. This argument is analogous to Bowmans (1982) proposition that troubled firms prefer and seek risk. Investigation of the investment decisions made by married individuals presents a unique challenge to researchers as the investment portfolio of the couple may reflect the combined risk preferences of the couple (Bernasek and Shwiff, 2001). The available evidence suggests that single investors are more risk tolerant (Roszkowski, Snelbecker and Leimberg, 1993) although some research has failed to identify any significant relationship (McInish, 1982; Masters, 1989; and Haliassos and Bertaut, 1995). Methodology The study employs primary data collected by communicating with the respondents with the help of a structured questionnaire. Before undertaking the survey, a pilot test of the questionnaire was done with 40 respondents. Their views were incorporated in the final questionnaire and desired results were obtained. The study is based on responses obtained from the respondents belonging to a wide cross section. The total sample consisted of about 150 people, Males/Females from Salaried/ Self Employed, were split from different Age groups of Less than 35, 35-45, 45 and above. Investment Experience (Measured in the No of years) and the savings of Individuals post investment was also observed. The study employed non-probabilistic sampling method to select the respondents. The sampling method used can best be described as a mix of judgmental and convenient sampling. The questionnaire (Annexure) consists of a risk profiling exercise combined with the demographic characteristics required about the investor. Later a combination of cluster analysis along with a couple of other tests like LOGIT, PROBIT Etc will be used. DATA ANALYSIS The risk taking ability of the respondents was found by looking at the patterns and similarities that could be found and understood in the data. Techniques of Regression and Logit tests are used. Then the demographic characteristics of the people to their risk taking ability and any similar patterns are also identified. From the final questionnaire we got to know the risk profile, demographic profile, choice of investments, other habits and observations etc. Later any patterns and similarities were looked at in the data. The analysis was done using Logit tests identifying probabilities, Multi logistic regression, Man- Whitney U test and chi square. The following hypotheses were formulated to study whether the choice of Investment depends upon variables, such as, gender, age, income, educational qualification and occupation. The hypotheses are stated as follows: Ho.1: There is no significant difference between the males and females in their choice of investment avenues. Ho.2: There is no significant difference among the investors belonging to different age groups in their choice of investment avenues. Ho.3: There is no significant difference between the investors of different occupations in their choice of investment avenues. Ho.4: There is no significant difference between the investors having different investment experience in their choice of investment avenues. Ho.5: There is no significant difference between the investors having different savings post investment in their choice of investment avenues. Logit Regression Using the data, we have calculated if the respondent is a risk taking or a risk averse investor. His risk taking behavior is taken as a Dependent variable. The various independent variables include Age, Gender, No of dependents, Income; savings post investments, investment experience etc. The model studies the change in the dependent variable due to change in all these independent variables. We use ungrouped method of Logit regression as we observe that these variables are independent and are not very much correlated with each other; hence they show lesser chance of hetroscedasticity with each other. Wald statistic (test) was used to test the significance of individual logistic regression coefficients for each independent variables ( that is to test the null hypothesis in logistic regression that a particular logit coefficient is zero). It is the ratio of the unstandardised logit coefficient to its standard error. The Wald statistic and its corresponding p probability level is part of the SPSS output. The independents may be dropped from the equations when their effect is not significant by the Wald statistic. We observe that the regression equation is significant at 10% with Wald value of 2.959. It was observed that among the independent variables the Age, gender and Investment experience are considered to be significant with a Wald value of 18.571, 3.47, 3.457 respectively they are also significant as they fall in significance level of 10%. However No of dependents, the Income and savings post investment are not significant enough and they are not at a significant level too with more than 10% significance level. It is observed that the number of dependents or siblings of a person does not define his risk taking ability and capacity, same is the reason for the person being salaried or being self employed for his living. There is no pattern observed for the level of savings that person has after his investment habits. Hence it can be said that the risk taking capacity can be mainly judged by his Age, Gender and Investment experience. The logit can be converted easily into an odds ratio simply by using an exponential function. The original odds are multiplied by e to the bth power, where b is the logistic regression coefficient, when the given independent increases by one unit. The ratio of odds ratio of the independent is the ratio of the relative importance of the independent variables on the dependent variables. The value of ratio for income 1.083 . Hence a unit change in income affects the change in risk taking ability by 1.083 Further in the regression equation the variable Age is highly significant with the score of 21.443 in the equation, so is gender and investment experience. The equation has a overall statistics of 28.953 with a appropriate significance level. R Square in logistic regression R2 à ¢Ã¢â€š ¬Ã¢â‚¬Å" measures attempts to measure strength of association. For small examples, for instance, an R2 à ¢Ã¢â€š ¬Ã¢â‚¬Å" like measure might be high when the goodness of fit was unacceptable by model chi- square or some other test. Cox and Snell R square is used to in the interpretation of multiple R square based on the likelihood, but the value lesser than1 is, the better. Here the value is 0.230. Nagelkerkes R2 divides Cox and Snells R2 by its maximum in order to achieve a measure that ranges from 0 to 1. Therefore Nagelkerkes R2 which is here 0.310 will normally be higher than the Cox and Snell measure but will tend to run lower than the corresponding OLS R2 which is 133.048. Nagelkerkes R2 is the most-reported of the R-squared estimates. Conclusion The insight of how an investment choice gets affected by the demographic variables helps the financial advisors to advise their clients better. The clients, on the other hand, on being advised regarding the investments that suit their profile, will not only rate such an advice higher but will also appreciate it. This study thus, will certainly improve the mutual trust between the advisor and his client. Similar studies with diverse samples will help in understanding the investment psychology better. From the research we observe that the risk taking ability can be mainly judged by his Age, Gender and Investment experience. That is if the person falls in a specific age category, the financial planner cab be readily prepared for the desires level of risky portfolio to be offered to the client. It has been noticed from the data that mostly people with high age are risk adverse on the contrary young people like to take very high risks and invest in aggressive stocks and speculative instruments. Men have been observed to be more risk taking and aggressive than most females. And people who have experience of trading in the financial markets also determine the level of risk they like to take. It is observed that the no of dependents or siblings that a person does not define his risk taking ability and capacity initially we thought that people who have more no of siblings would like to take less risk however same has not been observed in this case, same is the case for the person being salaried or being self employed for his living. Similarly no pattern has been observed for the level of savings that person has after his investment habits and the level of risk that he like to take.