B.F. Skinners theory, positive reinforcement essays

B.F. Skinner's theory, positive reinforcement essays In B.F. Skinner's theory, positive reinforcement is defined as a presented stimuli that works to increase or strengthen the probability of a response. An example of this would be a food treat for a dog in return for sitting behavior. A negative reinforcement is defined as the removal of stimuli that acts to increase or strengthen a response. An example of this would be yelling at a child to stop crying, and having the crying behavior stop. While the action of yelling was negative, the response was positive, in that the child stopped crying, thus increasing the likelihood that a person will yell to get the child to stop crying. Punishment is defined as an action to temporarily repress behavior, such as the removal of television privileges for a child who fails a class. This "punishment" would temporarily serve as a repression to the behavior of receiving bad Walden II, B.F. Skinner's world of utopia, is a model illustration of what needs to be done in order for humans to be happy, rather than just furthering the happiness of the ruling class or the majority. The idea that humans are born with nothing, that we are then the product of our history, and thus, that we learn all the problems we have, is a wonderful idea. If this were true, then Walden II would work: no one born in the world would learn the behaviors, and everyone who had previously learned them could simply unlearn them. Without social pressures, and with all needs met, there would be no need for corruption. In the modern world, however, this idea is just that: an idea. Even if all the technologies were in place, we now know, through modern medicine and psychiatry that some behaviors are inane, and thus very difficult to unlearn. While life in Walden II would be blissful, it would also be impossible. Secondary reinforcers are those that get their power from associations with primary reinforcers...

The Biography of Edwin Hubble

The Biography of Edwin Hubble The astronomer Edwin P. Hubble made one of the most profound discoveries about our universe. He found the cosmos is much larger than the  Milky Way Galaxy. In addition, he discovered that the universe is expanding. This work now helps astronomers measure the universe. For his contributions, Hubble was honored by having his name attached to the orbiting Hubble Space Telescope.   Hubbles Early Life and Education Edwin Powell Hubble was born November 29, 1889, in the small town of Marshfield, Missouri. He moved with his family to Chicago when he was nine years old, and remained there to attend the University of Chicago, where he received a bachelor’s degree in mathematics, astronomy, and philosophy. He then left for Oxford University on a Rhodes Scholarship. Due to the dying wishes of his father, he put his career in the sciences on hold, and instead studied law, literature, and Spanish. Hubble returned to America in 1913 after the death of his father and began teaching high school Spanish, physics, and mathematics at New Albany High School in New Albany, Indiana. However, his interest in astronomy led him to enroll as a graduate student at the Yerkes Observatory in Wisconsin. His work there led him back to the University of Chicago, where he received his Ph.D. in 1917. His thesis was titled Photographic Investigations of Faint Nebulae. It  laid the foundation for the discoveries he later made that changed the face of astronomy. Reaching for the Stars and Galaxies Hubble next enlisted in the Army to serve his country in World War I. He quickly rose to the rank of major and was injured in combat before being discharged in 1919. He went immediately to Mount Wilson Observatory, still in uniform, and began his career as an astronomer. He had access to both the 60-inch and the newly completed 100-inch Hooker reflectors. Hubble effectively spent the remainder of his career there, where he also helped design the 200-inch Hale telescope. Measuring the Size of the Universe Hubble, like other astronomers, was used to seeing strangely shaped fuzzy spiral objects in astronomical images. They all debated what these things were. In the early 1920s, the commonly held wisdom was that they were simply a type of gas cloud called a nebula. These spiral nebulae were popular observation targets, and a lot of effort was spent trying to explain how they could form given the current knowledge of interstellar clouds. The idea that they were whole other galaxies was not even a consideration. At the time it was thought that the entire universe was encapsulated by the Milky Way Galaxy - the extent of which had been precisely measured by Hubble’s rival, Harlow Shapley. To get a better idea of the structure of these objects, Hubble used the 100-inch Hooker reflector to take extremely detailed measurements of several spiral nebulae. As he was observing, he identified several Cepheid variables in these galaxies, including one in the so-called Andromeda Nebula. Cepheids are variable stars whose distances can be precisely determined by measuring their  luminosity and their periods of variability. These variables were first charted and analyzed by astronomer Henrietta Swan Leavitt. She derived the period-luminosity relationship that Hubble used to discover that nebulae he saw could not lie within the Milky Way. This discovery initially met great resistance in the scientific community, including from Harlow Shapley. Ironically, Shapley used Hubble’s methodology to determine the size of the Milky Way. However, the paradigm shift from the Milky Way to other galaxies that Hubble was a tough one for scientists to accept. However, as time passed, the undeniable integrity of Hubble’s work won the day, leading to our current understanding of the universe. The Redshift Problem Hubbles work led him on to a new area of study: the redshift problem. It had plagued astronomers for years. Here is the gist of the problem: spectroscopic measurements of the light emitted from spiral nebulae  showed that it was shifted toward the red end of the electromagnetic spectrum. How could this be?   The explanation turned out to be simple: the galaxies are receding from us at high velocity. The shift of their light toward the red end of the spectrum happens because they are traveling away from us so fast. This shift is called the Doppler shift. Hubble and his colleague Milton Humason used that information to come up with a relationship now known as Hubble’s Law. It states that the farther away a galaxy is from us, the more quickly it is moving away. And, by implication, it also taught that the universe is expanding.   The Nobel Prize Edwin P. Hubble was honored for his work but unfortunately was never considered a candidate for the Nobel Prize. This was not due to a lack of scientific achievement. At the time, astronomy was not recognized as a physics discipline, therefore astronomers were not eligible. Hubble advocated to change this, and at one point even hired a publicity agent to lobby on his behalf. In 1953, the year Hubble died, astronomy was formally declared to be a branch of physics. That paved the way for astronomers to be considered for the prize. Had he not died, it was widely felt that Hubble would have been named that year’s recipient. Since the prize is not awarded posthumously, he did not receive it. Today, of course, astronomy stands on its own as a branch of science that also includes planetary science and space science. Hubble Space Telescope Hubble’s legacy lives on as astronomers continually determine the expansion rate of the universe, and explore distant galaxies. His name adorns the Hubble Space Telescope (HST), which regularly provides spectacular images from the deepest regions of the universe. Fast Facts about Edwin P. Hubble Born  November 29, 1889, Died: September 28, 1953.Married to Grace Burke.A well-known basketball player at the University of Chicago.Originally studied law, but studied astronomy in graduate school. Received Ph.D. in 1917.Measured the distance to the nearby Andromeda Galaxy using light from a variable star.Discovered that the universe is larger than the Milky Way Galaxy.Devised a system for classifying galaxies according to their appearance in images.  Honors: numerous awards for astronomy research, the asteroid 2068 Hubble and a crater on the Moon anmed for him, the Hubble Space Telescope named in his honor, U.S. Postal Service honored him with a stamp in 2008.   Edited by Carolyn Collins Petersen

IT Essay Example | Topics and Well Written Essays - 500 words - 4

IT - Essay Example have be used to allow for branching out in different geographical locations, tapping into new markets, reaching out to more customers and to moving outside the country of origin. However, with the increased importance of the data resources some big data issues, which may have negative impact on enterprises, have also emerged. Top in the list is the privacy challenge. Since most businesses are pursuing big data projects, privacy and security of the information is becoming a big concerns especially due to the increased cyber threats. Storage is also a big data challenge. Organizations have huge volumes of information that need to be used and storing the data can also be a challenge. The other major issue is the analysis of the data. The analysis may require highly paid scientists and experts as well as appropriate graphical interfaces and tools and this may increase the operating costs. Cloud computing refers the use of software solutions that are not hosted externally by another datacenter or hosting service provider. The organization will simply access the interface through the appropriate software while leaving the administrative task of managing the content to the hosting company that ensures that the information stored is safe and secure. One area in which the technology can be used is in the storage of big data. When an organization gives the responsibility of storing and hosting data to a second datacenter or a service provider, it is able to reduce the costs associated with putting up storage infrastructure for its IT needs. Moreover, using the cloud computing technology allows the business to have access to the information from any point since it is not specifically stored in the office. For an enterprise to benefit from its IT infrastructure, it needs to strategically align its IT functions with the business goals. This will, however, be influenced by several factors. For such an alignment to take place, there is a need to address the corporate cultural

The payment is made as soon as the contract is signed Case Study

The payment is made as soon as the contract is signed - Case Study Example All of a sudden if Jason says he is insolvent, or even proves to be. Jim is the one who will be actually stuck in the entire situation. Jim is probably thinking, Jason's not going to pay him. In certain contracts, the payment is made as soon as the contract is signed. So there are two possibilities. One: If the payment has already been made to Jim, all he needs to worry about is that Jason, might not claim in court, that now that he is insolvent this contract is null and void and so he wants' the money back. Two: if the payment is yet to be made, then Jason will definitely want to not make the payment. Jim has the right to make his point in court in both the cases. What Jim needs to understand is the fact that under the JCT 05 Standard Form of Building Contract with Quantities contract. The general law, right to stop otherwise denies a contract can come up in a lot of situations. Initially, a single party can make it apparent that it has no intent of performing its part of the good deal. Secondly, that party might be responsible of such a grave violation of contract that it will be tackled as bearing no target of acting. An occurrence of this type is recognized by law as a repudiatory breach. In mutual cases, the innocent party has an alternative; either to confirm the contract also holds the additional party to its responsibilities at the same time as asserting costs as apt for the breach, or else to get the contract to an ending. If negation is decided on for, then both the parties are free from any more contractual compulsion to carry out.1Also Jim ought to know that not every breach is alike nor do the astringent parties essentially have the similar privileges for the diverse breaches. For instance if in a case a contractor is thrown out his job, the contractor may discover it the tough way that project financer acted irrationally plus used irrational force, moreover it may be acknowledged the one in defaulting.2If Jason gets in touch with Jim, this act will be then by action of law, and will take place where the accountable party has committed a basic infringe and the blameless party has then b y remark or act chosen to believe the refutation and finish the contract. In this case Jim will not be claiming any rights that he might have in this case. Jim should opt for a scenario wherein, he might have chances to claim his damages while at the same time abiding by his contractual commitment. It is vital that Jim as the innocent party ascertains evidently the lawful base for this path of action. More significantly, it ought to be esteemed that the distressed party is forever permitted to seek alternative for a specific violation through an action in indemnity. If Jason does terminate the, it would hence, be the last option, wherever any possible quantum of payment in the shape of a grant for damages is expected to be inadequate to give good reason for the continuation of the focused agreement. Jim has by law the right, to claim for damages while any breach of contract can give rise to a claim for damages, because the evasion by Jason would be specifically of a very grave or essential nature. Jim can claim his right to the damages. It would be wiser to wait and see what Jason's next step will be and decide accordingly in light of a ll above given advice. Section 2) The statement tort is derivative from the

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

Tabloids - Essay Example As compared to broadsheet journalism, which is normally held together by a strong since of ethics and public responsibility, tabloids rely on pure entertainment and outrageous colors, features, and stories to try to lure in the imaginative reader. Often stories are crafted out of no factual basis, and are there instead to try to be as outrageous as possible for the sake of getting people's attention. They use a much looser idea of values and morals to try to make their point compared to broadsheet journalism. In a stunning twist of events, Clinton and Obama have been seeing coming out of a hotel late into the night. Could this mean a new political partnership between the two, or possibly an even darker secret love life between the two Could this all be an alien plot Late last night Democratic nominees Clinton and Obama were both seen on their way home from a late night meeting. The meeting, uncongenially, seemed to have taken place in an hotel room that was actually rented in McCain's name. The fact that McCain seems to pay for them to spend the night together is strange of itself, but seeing the two candidates embrace in a hug and passionate kiss as they left sparked the real controversy. This turn in events now leads people to wonder if in fact Clinton and Obama are really working together, and in more places than just the political bedroom. McCain helping them pay for the room also adds suspicion to what all of them are really up to. Is McCain paying them off to keep the fighting going longer so he can continue to campaign without a direct candidate Are Clinton and Obama really in love and want to run together As the saying goes, politicians do make strange bedfellows. Works Cited: http://spj.org/ethicscode.asp Society of Professional Journalists Tabloid

The Determinants of Inflation

The Determinants of Inflation This research provides some interesting facts and phenomena. It has been observed that how inflation can be affected by different factors in the Pakistan economy. How monetary policy and others have impact on inflation. This study reveals some interesting concepts which usually been understood by general. This study covers the aspects in which research analyze that how aggregate demand and money supply can put impact on inflation. The study examine that whether or not by increasing aggregate demand and money supply, the price increase or vice versa. The aggregate demand and money supply used as independent variables and inflation as dependent variable, these all are scale variables. The statistical model apply in the study is Multi Linear Regression given in the SPSS. Key Words: Aggregate Demand, Inflation, Money Supply CHAPTER 1: INTRODUCTION In this section, the researcher has briefly explained the literature based background of topic of the research, objective of research, methodology adopted in research, research questions followed by hypothesis which were tested in this research study. Overview In the field of economics and finance, inflation and the discount rate policy have very crucial role, discount rate is used as an instrument by Central bank of the country to control the money supply and also inflation. In economics rise in prices is basically known as Inflation or where the supply of increase but actually as we seen in the live situation that both increases side by side. The change in money supply has not been affected by output or the elasticity of output supply has decreasing and become to zero in the impact of money supply when true inflation begins. If inflation is just a general increase in prices as popular thinking has it, then why is it regarded as bad news? What kind of damages does it do? So thats why inflation is most important concern of people as Inflation has put strong impact on the life style of the people. Pakistan is facing the situation of increase in prices because of the increase in demand while on other hand supply respectively constant. To han dle this phenomenon, state bank use discount rate as a tool to handle the money supply and demand. When they want to decrease the inflation, discount rate will increase which causes the decrease of money supply, so by doing this, supply will cope up with the demand of money. Currently if we viewed the situation of underdeveloped countries as well as the developed economies, both are suffer from this inflationary pressure. The whole world according to the current scenario dealing with the pressure of prices increasing phenomena, this is just because of different reason in which we seen that inflation rate was on higher side than the previous years and this also due to increasing unemployment situation, these things are difficult for all to handle the Inflation. So the aim of initializing this research is put focus on how Pakistani authorities taking steps to control the phenomena of inflation, so considering these, steps taken by Pakistani government are precise or not. By initializi ng these steps, Pakistani government will successful to lower down the prices or not. This study is helpful for under developing countries like Pakistan to understand that the factors which are aggregate demand and money supply have some impact on inflation or not. These factors would be the main determinants of inflation in Pakistan like economy or not which is under process towards prosperity. Objective Of The Study The main target of this research is look at the role of different factors and their impact on inflation in the Pakistan economy. How inflation is affected by the aggregate demand and money supply. The aggregate demand and money supply increase then these will have direct impact on inflation or not. Problem Statement It is very important to see the role of inflation in economic environment by all concern personnel. The economy of Pakistan has going towards upward trend from last few years, although there are yet some unsolved very important issues in the economy. The largest issue of the economy is the inflation. In this study, we try to look at the factors affecting inflation, its main causes in this economic scenario of Pakistan and there measures to handle or overcome these. As the core problem, authorities or concern personnel keen to know that how inflation rises and what determinants like money supply and aggregate demand actually have play strong role to maneuver the inflation. They also want to know that whether by increase in money supply, inflation rise or decrease due to reduction in money supply. It is also important to know that when aggregate demand increases, prices goes in upward direction or vice versa. This also knows able that inflation may be impact by money supply or aggregat e demand individually or collectively. Research Questions The researcher has developed following research questions according to the statement of the problem: Q1. Does increase in inflation is because of increase in Aggregate Demand? Q2. Does increase in Money Supply cause to increase in Inflation? Q3. Is there significant relationship between price increase and increase in money supply? 1.5 Research Hypotheses Considering the research questions of the study researcher have developed following hypothesis: H1: inflation is increasing due to increase in money supply H2: inflation is rising due to increase in aggregate demand H3: there is no significant relationship between price increase and increase in money supply Outline Of The Research This research examines the impact of aggregate demand and money supply only on the inflation in the current scenario of Pakistan. In this study researcher would try to analyze a relationship among the factors (aggregate demand and money supply) and inflation. CHAPTER 2: LITERATURE REVIEW Our research is about determinants of inflation. The selected research papers are associated with the inflation; discuss how inflation affects the different economies and its causes. These researches which have been selected and studied for building our concepts about inflation and its impact on economy, were covering different issues of inflation happening in world economy, and as per requirement of need and problems. It also based on the different needs of different areas and the attitude of markets and economies of the host (researchers) objectives. The research is conduct when the problem is arises and defined then the researcher work starts and they study the issue and try to find some solutions and their remedies. The paper investigates the association between inflation and output growth on the Turkish economy. The researcher used GARCH model in his study to investigate the relationship along with granger causality test. The variables used in this research were inflation, output growth, real and nominal uncertainty. The researcher emphasis was basically on the point that Turkish inflation was affected by output growth or not. The research covers the period from 1986 to 2007 and use monthly data of Turkish economy. In the study, by using GARCH, the researcher looks on conditional means and variances of inflation and output growth and covariance among each other. The researcher also used the BIC and AIC optimal lag-length algorithm. It took the consumer price index and industrial production index which used for price level and production output. Researcher took the log of CPI for obtaining inflation for the purpose of investigating the inflation and output growth relationship. The findings of th e research include the sum of estimated inflation coefficients is -0.042 and ARCH parameter is calculated as 0.360 and 0.426 for output growth and inflation equation respectively. GARCH parameter for output growth is 0.234 and less than 1, so the ARCH parameters are greater than the GARCH parameters which present the view that short term effect are more than the long term effect. The researcher deduces the result that Turkish inflation is effected by output growth by nominal uncertainty channel. This research is important in its own for coming days because of the global economic crises, high level of output growth is induce by foreign capital will decline and this decline would increase the inflation in near future. Further in literature review, we study the inflation targeting and core inflation, here researcher looks at the association of core inflation and inflation targeting used as monetary policy. Basically core inflation is the measure of inflation in which food and energy prices are excluded. Real output of the economy has no real impact which be long run from the inflation rate or the changes in input prices developed by inflation rate (Quah and Vahey 1995; Eckstein 1981). The main emphasis of the research is the inflation in different countries. Policy makers dont want to include short term or temporary changes in inflation, so they wish to focus how these temporary changes exclude from inflation to able to get the real results. Core inflation is an idea that is use as measure the future inflation because it eliminates the temporary shocks those policy makers does not want to take in. The method used in this research was ordinary least square model and auto regressive model. Variables taken in the study were real GDP, CPI, trimmed mean (limited-influence estimator), the frequency of data used in the research range from 1980 to 1990 and early 2000 and the study sample was the data on quarterly basis of 12 countries. The study confirms that monetary policy has direct impact on core inflation (gives the forecast future inflation). Weighted average of both Trimmed mean and lagged inflation used empirically for the estimation of Core inflation. Two views drawn from this research were, first one is the inflation targeting has made the level of accommodation different for the central or reserve banks, although, inflation and non-inflation targeters after inflation targeting begins same. Secondly, since the early 1980s the public appears to believe that central banks of the countries are fairly non-accommodative and inflation targeting did not alter this perception. The researcher examines the possible interaction of conditional means and variances by accommodating the lenient and interactive framework whose impact on real activity by uncertainty of inflation. The model used in this research MGARCH and variables used for the research were inflation, inflation uncertainty, price, GDP deflator and CPI. The data frequency ranges from 1966 to 1979 and 1966 to 2000 on yearly basis. The importance of research is due to global economic conditions, so thats why others authors put their suggestion that the rate of investment which is decrease due to uncertainty of inflation is basically deter the long run contracts or by rising the option value which actually an irreversible investment. So thats why reduction in allocation in price system efficiency is because of inflation uncertainty which basically integrated to the relative price variation increment. The researcher reexamines the effects of inflation volatility by integrating the identified variance w ith MGARCH. The researcher find that the multivariate GARCH and VAR is give the reasonable explanation of the data. The main findings of the research is that the inflation has significantly reduced by real economic activity during 1982 post era, the research also concludes that average shock to inflation uncertainty has try to reduce output growth. The reduction in volatility in inflation process is due to macroeconomics policies which likely to speed up the overall growth. Furthermore; we studied the research on commodity prices, wages and U.S inflation in twentieth century which investigate the impact of primary commodity prices and wages on U.S inflation with respect to markup pricing. The methodology used in this research is Regression analysis and variables are inflation, markup pricing, primary commodity prices and wages. The researcher use annual data ranging from 1900 to 2001 of U.S economy. This researcher find that commodity prices and wages completely pass through into inflation of finished goods prices with both input have positive significant impact. So the rate of change U.S producer index have affected by these factors. The study deduce that aggregate demand growth has a negative affect on markup which further negatively impacted on finished goods inflation after controlling prices. The other one is the food prices, expectation and inflation. The main emphasis of the researcher is on food prices plays a special role in the formation of consumers expectations of inflation appears to be widely held by policy makers. The model used for this purpose is regression analysis and data used from 1950 to 1970 late on quarterly basis of United State. The variables used in the study were Food prices, rate of inflation, and wages of labor. The researcher investigates relationship of money growth, output growth and inflation. For this purpose, data of 81 countries used covering period from 1980-1993. The M2 growth rates (average) used to explain the cross-section inflation rates. The co-efficient of M2 growth are strikingly close to one where inflation and money growth high. Through study, it identify that these countries whose money growth and inflation relatively low. The estimated co-efficient of money growth was only 0.69, so a less complete explanation of inflation offers by quantity theory. Growth of Money GDP was nearly and consistent with monetary neutrality the research forms on money growth, output growth and inflation as key variables. The model, quantity theory is a mostly used model of inflation but not for those where long-run found low. The researcher found during its study that real GDP growth can be used to mitigate inflation. For this, some variables those are exogenous forces like growth in technologi cal progress, physical capital information and human capital. Through this study, researcher found that role of real GDP growth and money as determinants of inflation. Further in our literature review, we study another perspective of inflation on economy. By studying this paper, we found that hoe inflation process affect the economy in different ways and different variables of inflation. High and persistent inflation of this kind is labeled chronic inflation (Beckerman 1992). The researcher developed an error correction model to analyses the relationship of dynamics and long run determinants of chronic inflation. In this paper, researcher uses the Johansen procedure to test the integration in the foreign exchange markets and money. The study reveals that the oil prices, interest rate, output and money dynamically affects the domestic inflation which determined by exchange rate and foreign prices in long run. The researcher deduces that increase in inflation was transmitted to next p eriods inflation where price has a positive co-efficient. So the study reveals that the increase in overall inflation was due to an increase in oil price or in money growth, and also due to increase in rate of devaluation of the exchange rate increase while output growth goes up, the inflation decreases. Another aspect has been studied to understand the relationship between inflation and growth. Here researcher investigates the matter which is growth and threshold effect of inflations existence. The research findings reveal that for industrial countries, threshold reveals of inflation at 1-3 percent and for developing countries at 11-12 percent, where now growth of inflation was estimated. The researcher also points out that the relationship between inflation and growth was negative and significant when inflation rates above the threshold level. The researcher used data of 140 developing and industrialized countries covering time period 1980-1998.Statiscally, the threshold level of inflation consider significant at 1 percent or less. The research is about relation between assets return and inflation in large developed economies, data of 41 national markets including time series and cross-section of expected return. The researcher deduces that negative time series relation between realized asset return and realized inflation. This negative relation appears when returns of long horizon were examined. The researcher also examine that inflation hedge do not serve by equity returns country by country. So when seeing relation between co-relation of asset returns and inflation, in low inflation states that high, world and U.S equity market were more co-related with returns of emerging markets. This shows that there was very little difference between volatility of low and high inflation states in emerging and developed. The results of the study reveal that inflation can be a national equity attitude. Researcher found that differences in inflation states can be differentiate expected returns and have stringer impact to di fferentiate the volatility in different economies. The differences in inflation rates was explain 31 percent of variation in average returns and 59 percent volatility of cross-section in same market across the 41 countries. Here researcher analyzes the effects of high and uncertain inflation. Data used of forty four countries and covering period of twenty years. Researcher deduce that uncertainly has a strong impact on inflation across countries, relation, while in some cases, there are some relation exist between inflation and uncertainty within country relation, but not so strong within 44 countries, 18 of these were industrialized and remaining were developed. Researcher used Okuns hypothesis to test the rationality of the data. Researcher deduce that positive significant co-relation exist cross-country wise, while co-relation was weak within country. So result shows that 15 countries have a positive significant coefficient which was at least one. This paper analyzes the dominant factors, which affect the inflation in Nigeria. Researcher used error correction model of inflation process which based on money market equilibrium conditions. Data used covering period from 1985 to1995. Researcher examines devaluation of the naira and agro climate conditions. Researcher found that depreciation of naira on inflation has been affected significantly by monetary and fiscal policies. The result shown the prices increased through devaluation although these counteracted by proper implementation of policies. Researcher also found that a tight policy major reduces the impact of devaluation on domestic prices during mid 80s. While in early 90s devaluation magnifies the impact on inflation during excessive expansionary policies. The rate of inflation has been influenced by agro climate conditions and this has major impact on overall movements in prices. This research examines that issue of nonlinear effects of inflation on economic growth. Researcher founds that the economic growth relative to inflation has a significant structural break. This structural break was established when inflation was at 8 percent. Growth does not more on slightly affected by inflation below that rate. Data used in this research covering period from 1950 to 1980. While the growth has been significantly affect by inflation when inflation rate was above 8 percent. The research also examines the fact which explains that the effect of inflation on growth estimated was biased by factor of these, when structural break was ignored. So when structural break was considered, economic growth increases by factor of these by the estimated affect of inflation. This means that estimated affect of inflation has shown significant base when structural break exists. By this phenomenon, researcher deduces that when average annual rate of inflation was 8 percent, the point of structural break was estimated to occur. This also deduce that economic growth had not been affected or slightly positive affected when inflation was low, while on other side, economic growth has significantly negatively affected by inflation when it was high. Further in literature review, we studied the theoretical relationship between the size of capital stock and in economy and rate of inflation. This research reveals the fact that shows how capital stock in an economy affected by inflation. The researcher presents some time serious evidence. Researchers used VAR model for thirty four countries. The study reveals the facts which investigate by researchers were that majority of countries had not affect capital stock significantly by inflation process statically. Capital stock affected while inflation not to be super neutral, the co-efficient were positive and capital stock less affected. The researcher use data which comprise private and public capital. The public capital financed by revenues partly, which could lead positive relation between inflation and capital stock. Garber (1982) has argued that some of the transition costs after the German hyper inflation were due to the fact that private investment was no longer subsidized out of seignior age revenues. Researcher found that behavior of government could lead positive relation. The researcher deduces that across country differences in the relationship between inflation and capital stock produced by tax authorities through their different treatments of depreciation and nominal interest deductibility. Further in our understanding about inflation and its causes, we study the issue which examines high trend inflation countries predicted by sticky price models based on menu cost. The researcher used country specific approach to see how output affected by demands smaller impact and less persistent output fluctuations. The researcher used two stage estimation methodologies to examine the issue. Data used in this research comprise 51 countries covering period of 1950-1996. The researcher found from his research that output fluctuations would be persistence while short run impact effects perceived through price stickiness. In this paper, study reveals menu cost model of price stickiness which predicts the high trend inflation should lead to smaller impacts effect of nominal demand shocks (Ball et al. 1988) and less persistence in output fluctuations (Kiley 2000) Through two stage approach, using international data both studies find support. Researcher investigate that the output persistence within countries has affected trend inflation. The researcher deduce that hyper inflation emerge in those countries of high average inflation. Researchers found the strong support that inflation with high trend has lower impact within countries, so that output persistence in individual country not affected by trend inflation. That means important source of short run impact effects could be price stickiness. Furthermore, the role of money demand and money supply which determines the potential of inflation. In Switzerland at beginning of eighties, upward movement of price level was seen. The main issue to conduct this research was that through determining the growth of monetary base, monetary aggregate growth can be controlled. The role of the price level as the equilibrating valuable in the money market can be understood by considering an individual and market experiment (Laidler, 1985). Data used from 1980 to 1987. The main target of the paper is to find out how price levels stabilize over a long term horizon. So rise in income has to maintain pace with money supply in growing economy, the growth of output equal to money stock which expanded at output rate. The researcher using econometrical evidence suggest that price level with a growth trend of M1 that is lower then the potential income growth. The study describe that inflation rate of one present means M1 growth was one percent whic h greater than the base line. The empirical analysis of the study shows that fluctuations of the price level incur from movements of interest rates. So variation in nominate interest was due to inflationary expectations changes. The study explains that constant arte of secular consistent with nominal money stock. It means money growth unchanged with the demand. So that why the smoother price level will result with steady money growth. On other hand, changes in marginal productivity of capital which affect the real interest were due to technical progress, government deficit change in tax rate. The researcher deduces that such shocks can be put their impact on economy like Swiss. So thats why monetary policy has an important role to detect and react against these real factors which affect interest rate. Reaction of monetary policy means money supply by reduced the impact of such factors those cause to increase the interest and vice versa. CHAPTER 3: RESEARCH METHODOLOGY In this chapter, researcher has discussed method of data collection, sampling technique, sample size, instrument of data collection, content validity of instrument, reliability of the instrument and researched model developed. 3.1 Method of Data Collection Normally data is taken from the specific method and techniques through the questionnaires or through observation. But in this case we take the data from other sources which is already been used and also bias less. Data is used as the secondary data, which is collected electronically from the website of State Bank of Pakistan and other websites. The yearly inflation rate (CPI) of Pakistan is taken from the official web site of Sate Bank of Pakistan and also the yearly data of GDP as aggregate demand and M2 as Money Supply. The study adopts qualitative and quantitative paradigms. The study uses mixed method design with chi-square and correlation as quantitative mode of inquiry, and ground theory as qualitative mode of inquiry. 3.2 Sample Design Sample is taken as the yearly basis to test the correlation between inflation and aggregate demand. We use the yearly data instead of monthly because the GDP is not available on monthly basis. In this research we will use purposive sampling technique, because we will collect data only from Banks (SBP), some business journals, government sources. The data having very high number of observations which is helpful to use MLR model of SPSS. 3.3 Sample size Sample is the 41 number of observation, which is taken on yearly basis and the data of 41 years covering the time period from 1970 to 2010. This is healthy number of observations in any data to take the result on multi linear regression model (MLR) N= 41 The data used in this research is reliable and bias less, because it is taken directly from the consult authorities which assure the accuracy of data. The data firstly was taken of 10 years on the monthly basis but later we summaries it to see the significant and clear impact of aggregate demand and money supply on inflation, then we take the yearly data of all the variables. 3.4 Research model developed This study is focuses on the issue of inflation. Here we try to look what are those factors which can put impact or create influence on the inflation in the economy of Pakistan. For this purpose we take two independent variables which are GDP as aggregate demand and money supply and a response or dependent variable which is inflation as CPI. We took 41 years data for this study on yearly basis, so we can take a brief analysis on the phenomena of inflation. How it can be manageable in the current situation and how actually these factors can affect inflation in the Pakistan economy as real determinant of inflation. To test the hypothesis, we use multiple linear regressions MLR as statistical tool, for this we check that data is normal or not, is there any linearity among the data and the data or variables are serially correlated. We check these through different statistical means which shown in appendix. Here we see that the data is not linear and there is high autocorrelation or seria l correlation exists. So for this, we use log transformation to make data linear and reduce the correlation within the data to test our research hypothesis, we take logs of our predictors and response or dependent variables. We see still there is some non-linearity exists, and then we take difference of the variables (regressively) along with log transformation. We try to analyze the relation between GDP, MS and Inflation. By taking difference and log transformation, we apply the linear regression and still main assumption of the MLR not view, the autocorrelation removed and linearity exist but data become non-normal. We use different combination of variables to develop a fit model to test our research hypothesis. Lastly we come up with the model which we consider to use to test our research hypothesis and its findings discuss in the coming chapter. The equation used in our study Ln_dif_ Inf = ÃŽÂ ±+ ÃŽÂ ²1 Ln_dif _gdp + ÃŽÂ ²2 Ln_dif_ms +ÃŽÂ µ Here in this equation Ln_dif_Inf = shows the response or dependent variable after taking log transformation with difference of values. ÃŽÂ ± (alpha) = Constant term Ln_dif_gdp = shows the independent variable after taking log transformation with difference of values. Ln_dif_ms = shows the independent variable after taking log transformation with difference of values. and = referred to as partial regression coefficient. 3.5 Statistical Technique The Multi linear regression is used to conclude the result of data, because two variables are used as independent variable and one variable as dependent to observation and the scale data is used. One inflation and others are independent GDP as aggregate, M2 as Money Supply. So Multi Linear Regression is better option to evaluate the data being taken. Regression analysis is used to test the hypothesis and ANNOVA is used to see the variance. Due to expected presence of two predictors and the dependent variable most probably Multi Linear Regression is used to study the impact of MS and AD on Inflation. Linear regression is very easy to interpretation of result and to assess the result of given data. Regression developed the graphical presentation of two variables which are taken in research as data, the linear regression shows one variable on X axis and the other one variable on Y axis. The correlation of both variables can easily justify on the basis of slope line which is presenting the relation of two variables. CHAPTER 4: DATA ANALYSIS RESULTS To test the hypothesis, we use MLR with two predictors and one response variables to see the impact of aggregate demand and money supply on inflation. After apply the tool, we got the results which shows us different point of view than the researcher develop to initialize this study. The researcher wants to see that H1: inflation is increasing due to increase in money supply H2: inflation is rising due to increase in aggregate demand H3: there is no significant relationship between price increase and increase in money supply Making data linear and remove autocorrelation within the data by log transformation along with taking difference in values, we get the result in which the model summary table shows R, R Square and Adjusted R Square is round about 28%, 8% and 3% respectively, the purpose of seeing R values (correlation coefficients) which lies between 0 and 1, here the R is around 0.28 which shows the small positive correlation between the variables. The R Square coefficient of determination) is about .08 or 8% which describe or explain the 8% variability in the data, if R Square equal to zero means, no variance exists. Here in the research the R Square is 0.08 which is near to zero, so we can say that there is almost very low variance in the data explain by model. As research study use two independent variables, so adjusted R Square is more impor

An Investigation into the P.e.d, Y.e.d and X.p.e.d of The Sony Playstat

An Investigation into the P.e.d, Y.e.d and X.p.e.d of The Sony Playstation1 I have chosen the Sony Playstation1 as my product. The Playstation1 went on sale in 1995 in Britain. It quickly sold all its stock completely due to very high demand, as it was a 'new thing' at the time. It cost  £200 in the shops and stayed at this price for a whole two years however demand started to decrease rapidly after this. This could be because of new arrivals to the console world i.e. Nintendo 64. So they dropped their price to  £130 and again huge demand for the product begun and they sold out. However after a year, demand for the Playstation1 dropped, so they dropped their price again down to  £100. There was still little demand, so they dropped their price even further to just  £70 and brought it out in a new smaller design. However things never picked up as the Playstation2 was released and so no one wanted the somewhat dated Playstation1. Prices remain at  £70 today in all major shopping stores. P.e.d (Price elasticity of demand) is divined as the responsiveness of the quantity demanded of a good to changes in its own price. It is calculated by the equation :- P.e.d = % change in quantity demanded % change in price As I have found information figures when the Plastation1 went on sale and more recent figures, I have worked out the P.e.d for the Sony Plastation1. P.e.d = 0.91 ============ The result shows the Sony Playstation1 is inelastic. This means the consumers are aware of changes in the price and reflect on them to whether or not they buy the product. Because of the quite neutral result of P.e.d it shows a balance ... ...le, an increase in the price of coffee will increase the demand for tea. This, I would not expect to be true for the consoles we are talking about. Goods in joint demand however will have negative cross elasticities. For instance, an increase in the price of record players will reduce the demand for records. This I would expect to be true for the Playstation1 and Nintendo 64. The coefficient will be high for goods that are very close substitutes or complements and low when they are neither substitutes nor complements. Uses of cross elasticity of demand  · Firms can estimate the effect on their demand of a competitors price cut.  · Firms can estimate impact on demand for their product if they cut the price of a complement e.g. if they cut the price of the computer, how much will demand for software increase?

Call Now to Buy Your Very Own Sham Essay

In â€Å"The Hard Sell: Advertising in America†, Bill Bryson gives specific insight on the necessity of being more aware of why you buy what you buy. Bryson argues that the product name must be short, simple and unique. He states, â€Å"First. It is short. Second. It is not capable of mispronunciation. Third. It does not resemble anything in the art†¦Ã¢â‚¬  (425). Another effective advertising strategy that Bryson observes is the â€Å"giveaway†. Bryson states, â€Å"Consumers became acquainted with the irresistibly tempting notion that if they bought a particular product they could expect a reward†¦Ã¢â‚¬  (427). Bryson also asserts the importance of creating in the consumer a feeling of anxiety that makes the consumer feel as if they NEED the product and not just merely WANT it (428-429). Another efficient selling tactic is the use of scientific-sounding terms, according to Bryson, â€Å"There was never slightest hint of what GL-70 was, but it would, acc ording to the advertising, not only rout odor-causing bacteria but ‘wipe out enzymes!’† (434). Bryson is very insightful and emphatic in his arguments about the alluring thought of a reward, the necessity to create an anxiety in the consumer, and the conclusive â€Å"scientific studies†. Take, for example, any product you can find on a late-night television infomercial. One of the most effective advertisements is the commercial for the ShamWow. Like all the products found on the infomercials, the ShamWow â€Å"comes at an UNBEATABLE offer, call now and get not one, but TWO ShamWows for the price of one!† The company does a very effective job at pulling in the viewer with this line, sometimes you can get even more products like books and containers if you call quick enough. The announcer does a great job at creating the anxiety by asking, â€Å"Does your car always have unsightly water spots? Do your friends ask you when the last time you cleaned your car? Fear no more! The ShamWow will WOW your friends and family!† This causes the viewer to become embarras sed if their vehicle has water spots on it, leading them to want to purchase the ShamWow so they can dry their car before the sun bakes on the water spots. Lastly, and most effectively, the company includes an exaggerated quality by stating that the ShamWow â€Å"holds 12x its weight† to get the consumer to think that they do some kind of study. If you pause in your daily life and take a step by and analyze all the commercials and advertisements that you are bombarded with every day, you will begin to notice the advertising schemes employed by the companies. Bryson’s advice still holds its weight in gold, much like the ShamWow does with water, today. Consumers are tricked into think they need products that they have no use for and can get at a cheaper price.

Free Essays on Islam - A Theocracy Of Hatred And Murder

Islam – A Theocracy of Hatred and Murder Newspapers and magazines practice a questionable censorship of criticism of the world’s religions. The most vicious devil worship is mentioned with little comment and then only in crime reporting of the horror committed. This can be a good thing. Religious hatreds are so easily inflamed, and there is so much history of religious persecution, that we are much better off with this practice of self-restraint. Most importantly, the separation of church and state that is so strongly enforced and spelled out in the First Amendment to our constitution that it ensures everyone’s right to practice and believe what ever you want. Most other countries only come close to what we have and in many other countries, there is no freedom of religion at all. In some democracies, it is legal for a political party to yearn for religious domination, but in other democratic countries such parties are very small and never reach the stage of challenging their constitutions. The name â€Å"Chri stian Democratic Party,† common in Europe, refers to moral roots, not to theocratic ambitions. The consequence of this separation of church and state is that political contention is not poisoned by religious hatred. There is one exception though, Islam, a theocracy that has murdered, savaged and brutalized the world for over a thousand years. Its pagan beginnings in the seventh century are well documented and have been proven historically. Allah was the name of the moon god and he was married to the sun goddess. Together they produced three goddesses who were called â€Å" the daughters of Allah†. These three goddesses were called Al-Lat, Al-Uzza, and Manat. Islam has evolved into a highly intolerant religious doctrine that believes church and state are one and that canon law and civil law are one. Islam believes that unbelievers must be converted or conquered and that hating infidels is a virtue and killing an infidel... Free Essays on Islam - A Theocracy Of Hatred And Murder Free Essays on Islam - A Theocracy Of Hatred And Murder Islam – A Theocracy of Hatred and Murder Newspapers and magazines practice a questionable censorship of criticism of the world’s religions. The most vicious devil worship is mentioned with little comment and then only in crime reporting of the horror committed. This can be a good thing. Religious hatreds are so easily inflamed, and there is so much history of religious persecution, that we are much better off with this practice of self-restraint. Most importantly, the separation of church and state that is so strongly enforced and spelled out in the First Amendment to our constitution that it ensures everyone’s right to practice and believe what ever you want. Most other countries only come close to what we have and in many other countries, there is no freedom of religion at all. In some democracies, it is legal for a political party to yearn for religious domination, but in other democratic countries such parties are very small and never reach the stage of challenging their constitutions. The name â€Å"Chri stian Democratic Party,† common in Europe, refers to moral roots, not to theocratic ambitions. The consequence of this separation of church and state is that political contention is not poisoned by religious hatred. There is one exception though, Islam, a theocracy that has murdered, savaged and brutalized the world for over a thousand years. Its pagan beginnings in the seventh century are well documented and have been proven historically. Allah was the name of the moon god and he was married to the sun goddess. Together they produced three goddesses who were called â€Å" the daughters of Allah†. These three goddesses were called Al-Lat, Al-Uzza, and Manat. Islam has evolved into a highly intolerant religious doctrine that believes church and state are one and that canon law and civil law are one. Islam believes that unbelievers must be converted or conquered and that hating infidels is a virtue and killing an infidel...

Business Writing 101

Business Writing 101 Business Writing 101 Business Writing 101 By Ali Hale The term â€Å"business writing† covers any piece of writing produced in a business context. I’ll focus here on documents that are produced for internal use (such as memos and plans), and reports aimed at clients. Most jobs today involve a significant amount of writing, especially as you rise up the corporate ladder. Many of us find writing business documents a daunting process – and often procrastinate over it. This article should help you to gain confidence and to know where to start and how to progress. As with any forms of writing, your business writing will benefit if you follow the writing process (planning, drafting, revising, editing and publishing). Planning Your Business Writing Whatever the piece of writing you’re faced with – whether it’s an email to shareholders or a complex report – you should write a plan before you begin. In some cases, that plan will be very brief, perhaps a list of bullet points that you want to cover in your email. For longer documents, your plan may include: facts that you need to check or look up; a list of people whose input is required; the titles of sections or subsections; a list of illustrations or diagrams required. Having a plan means that you can â€Å"chunk† a large project into manageable sections. This is a good way to avoid feeling overwhelmed or stuck on your business writing. Structure Most companies will produce similar types of document on a regular basis. For example, a software company might produce an annual report to shareholders, a monthly newsletter for clients, and a new user guide each time a new software module is released. For each of these documents, your company should have a standard template. This not only saves a lot of work in formatting a new document each time – it provides you with a structure. If no templates exist (which is common if you are a member of a very small company, or if you work for yourself) use a previous example of the same type of document to create a template. When you have to come up with a structure from scratch, consider these possibilities: 1. Chronological Structure Some documents, especially short ones, are best structured chronologically (in order of time). A good example would be a work plan, stating what needs to be done each week for the next quarter. 2. Alphabetical Structure If you need to create a document which involves a large number of separate items, consider ordering it alphabetically (A – Z). This applies particularly to glossaries of terms. 3. Topic Structure In many cases, documents are best split into different topics or areas. For example, a Frequent Asked Questions page for your website could be divided into â€Å"about us†, â€Å"complaints† and â€Å"delivery†, with each section containing several questions related to that topic. Longer Business Documents When you produce a long and complex document such as a report, you should provide an overview at the start. This is often known as an â€Å"executive summary†. (You may also hear it called an â€Å"abstract†, â€Å"synopsis† or â€Å"overview†.) Here’s a ficticious example of an executive summary in a report by â€Å"Big Brother Corp† for their client â€Å"WidgetInc†. Note that a real executive summary would be longer and more detailed: The main objective of this report is to provide a detailed analysis of WidgetInc’s customer demographics. This was done using standard industry procedures (primarily telephone surveys of randomly-selected customers). Big Brother Corp found that 89% of WidgetInc’s customers are aged under 25, and that 63% are male. It is recommended that WidgetInc targets this segment by advertising on popular game and video websites. As well as providing an executive summary, long documents require: A table of contents Clearly-labelled sections and subsections, normally using a numbered structure Business Language and Style All business materials should be written in a clear, formal, professional way – but without using technical jargon or buzzwords. â€Å"Clear†, â€Å"formal† and â€Å"professional† means that you should avoid: Vague or ambiguous statements Jokes, humor, anecdotes and clichà ©s Unsubstantiated facts Slang or potentially offensive language You should also take care over your grammar, punctuation and spelling. Use your company’s style guide when you’re unsure about a particular point of language, layout or style. If a style guide doesn’t exist, create one. A couple of examples illustrating what you might include are: The word government should not be capitalized, unless it starts a sentence All titles, headings and subheadings should be in Title Case (You might decide differently on those points – the organization I worked for used sentence cases for titles, headings and subheadings, following the Guardian newspaper’s style guide.) Avoid padding out your document with impressive-sounding words that don’t say anything. Your writing should be concise and to the point – it shouldn’t involve waffling. In many cases, you will also include a title page, diagrams, appendices, footnotes and other supporting material. Using the Passive Voice The passive voice is used to avoid attributing an action to a specific subject (person or group). For example: The data was analyzed according to our protocols. Rather than: Joe analyzed the data according to our protocols.. In this case, it is probably appropriate to use the passive voice: the reader of the report is unlikely to need to know who analyzed the data – they just want to know that this was done. BusinessWriting.com suggests: Use passive voice when you do not know the actor, you want to hide the identity of the actor, or the actor is not important to the meaning of the sentence. However, the current trend in business writing is to use the passive voice sparingly, especially when communicating with customers. It can make a piece of business writing less engaging, and it can also seem evasive. Business Emails Much of the writing which you do during the business day will be in the form of emails. Many of these will be simple and straightforward, and you won’t necessarily need to plan them in detail. Even for short emails, you should: Write a clear subject line Write a clear subject line – and don’t forget to change the subject line if you’re replying to an email and introducing a different topic. Start with the person’s name, as you would with a letter – it can seem rude or abrupt to launch straight into the body of the email. Sign off with an appropriate closing such as â€Å"Best regards† or â€Å"Warm regards† and your name. In formal contexts where you are not already acquainted with the recipient, use â€Å"Yours sincerely† (or, if you don’t know the name of the recipient, â€Å"Yours faithfully†). Spell-check your email – errors don’t just make you look unprofessional, they can cause confusion, and waste time and resources. Be careful not to use jargon or acronyms unless you’re certain the recipient will understand them. This is particularly important for external communications, eg. with clients, customers or the media. Be familiar with basic email etiquette. Longer emails Keep your emails as succinct as possible, and consider sending an attachment or link to a webpage if you have a lot of information to convey. A good way to structure an email and to make it easy for the recipient to take in all the information is to use bold subheadings to separate sections on different topics. For example: Delivery dates We expect one article (text and image) to be delivered each week, by Wednesday noon. Images Please supply all images as .bmp files. They should be 600px by 400px, and should have a resolution of 300dpi or higher. Payment Invoice bob@widgetsinc.com on completion of work. If you’re sending a lengthy email, you may want to put a one- or two-line summary at the top. It’s also a good idea to make it very clear at the end of your email what action you want. State this clearly, and as a list if appropriate. For example: Could you please email me with: The latest date from Project X Your drafted report on Project Y The times and dates which you would be available to meet next week Remember that, even if your business writing is in the form of an email, you should be professional, polite and ensure that you have provided all the information which the recipient is likely to need. Check Out Other Articles from The Writing 101 Series: The Writing Process Creative Writing 101 Story Writing 101 Letter Writing 101 Business Writing 101 Freelance Writing 101 Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Business Writing category, check our popular posts, or choose a related post below:50 Incorrect Pronunciations That You Should AvoidEmail Etiquette5 Ways to Reduce Use of Prepositions

Total quality pointer paper Research Example | Topics and Well Written Essays - 500 words

Total quality pointer - Research Paper Example For instance, Quality entails developing and sustaining relationships by evaluating, expecting and fulfilling stipulated or stated requirements or needs. For instance, it is always the norm to seek zero defects and conformance to needs in order to develop and sustain relationships (George, 1998). Quality is the ongoing process of consistently producing what customers’ demands or wants while eliminating and reducing errors before and after delivery of services or goods to the customer. They will look at the segmentation criteria that allows an organization to determine which bunch of consumers are based suited to serve and which service or product offer will meet both the requirements of its selected segment and do better than their competitors. In addition, modern pioneers gather information about what customers needs and this in turn helps the firm to provide the consumers with what they want (Simon, 2011). Further, they focus on target marketing which helps them to brand messages on specific market that are more likely to purchase their product or service than other markets. Having specific knowledge about what target market will enable the firm meet the demands of its customers. Elements of quality are important because they define the firm or organization when it comes to treating or dealing with its customer. This in turn helps an organization know what it needs to do in order to continue providing quality services and products to its customers while outperforming its competitors in the market. Foreseeing the future in terms of what customers expect and that is what the companies need to deliver. Companies should aim to deliver continuous value to their consumers’ changing needs because there is an ever increasing global marketplace. The future quality hangs in balance because most companies are facing challenges to recruit, develop, train

Job Satisfaction Essay Example | Topics and Well Written Essays - 22500 words

Job Satisfaction - Essay Example Employee satisfaction is the most important factor for the successful operation of companies nowadays. When the employees are satisfied, it improves the performance and productivity of the company and contributes towards the profitability. On the other hand, low job satisfaction has negative results such as increasing cost, decreasing profits and customer dissatisfaction. In order to be successful companies need to concentrate on increasing employee’s satisfaction so that employees’ retention rate can be increased. Past studies have shown that employees’ satisfaction can be increased by the following: †¢ a sense of engagement and decision-making responsibilities †¢ use of skill and abilities †¢ opportunities to advance †¢ opportunities to learn new skills †¢ positive communicative relationships with supervisors, and †¢ good pay and training. Job satisfaction has been defined by Locke as â€Å"the pleasurable or positive emotional state that results from an employee's job or experience associated with the job†. Moreover as discussed in, job satisfaction is â€Å"the fulfilment and gratification that comes from work†, it is not really the money or the benefits received but the positive feelings experienced from accomplishing tasks. Every job holds the potential to provide certain levels of satisfaction related to individual employees. Job satisfaction is an important factor especially in high risk environment like oil and gas in terms of the potential hazard towards the safety of an employee.