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Varian (2014, Ch. 35, Section 1) discusses the effects of a tobacco smoking externality in

Question: Varian (2014, Ch. 35, Section 1) discusses the effects of a tobacco smoking externality in a model that was also studied in class. In this model: A. Trading between money and smoke concentration in the house can potentially improve the utility of both room-mates. In line with Coase Theorem, for that to occur we need well-defined property rights Varian (2014, Ch. 35, Section 1) discusses the effects of a tobacco smoking externality in a model that was also studied in class. In this model:

A. Trading between money and smoke concentration in the house can potentially improve the utility of both room-mates. In line with Coase Theorem, for that to occur we need well-defined property rights (i.e. rules and punishments for not following the rules) and the initial allocation of rights to smoke (e.g. tradable permits that can be use to smoke) can be given to either the smoker or non-smoker.
B. Trading between money and smoke concentration in the house can potentially improve the utility of both room-mates. In line with Coase Theorem, for that to occur we need well-defined property rights (i.e. rules and punishments for not following the rules) and the initial allocation of rights to smoke (e.g. tradable permits that can be use to smoke) has to be given be given to the smoker (if they are given to the non-smoker, no trade would ever take place).
C. Trading between money and smoke concentration in the house can potentially improve the utility of both room-mates. In line with Coase Theorem, for that to occur we need well-defined property rights (i.e. rules and punishments for not following the rules) and the initial allocation of rights to smoke (e.g. tradable permits that can be use to smoke) has to be given be given to the non-smoker (if they are given to the smoker, no trade would ever take place).
D. Trading between money and smoke concentration in the house can potentially improve the utility of both room-mates. In line with Coase Theorem, for that to occur we need well-defined property rights (i.e. rules and punishments for not following the rules) and the addition of rights to smoke (e.g. tradable permits that can be use to smoke) that have to be purchased from a government authority.

1) Trading money for smoke concentration in the residence has the potential to increase the utility of both roommates. According to Coase’s Theorem, well-defined property rights (i.e. laws and penalties for not obeying the rules) are required for thi…View the full answer

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Competency in Information and Technology Literacy Essay essay help services

The dynamic changes in information technology has advocated for nurses highly qualified in nursing informatics. This paper discusses some barricades allied to the employment of essential Nursing Informatics competencies into undergraduate nursing websites. Introduction Information Literacy is the set of skills needed to discover, repossess, evaluate, and use information. The Changes in information technology have led to new changes in the way nurses operate on patients. These nurses have to undergo various competencies. This paper discusses the changes and the required competencies.

Discussion Information literacy is important in the nursing researches and practical working with the nursing informatics equipment. It is not just for students to learn but for practicing nurses and other healthcare practitioners as well. The practice of nursing in which the nurse makes medical decisions based on the best existing research proof, his or her own clinical expertise, and the needs and inclinations of the patient is referred to as evident based nursing. The nurses should learn to practice Information system to design and maintain their healthcare information.

For instance, PDAs (Personal Digital Assistant or Patient Data) could allow nursing scholars to access various decision support systems that would offer them with professional guidance relating to specific care and treatment matters at their patient’s bedsides. There are various sources where one can learn about information literacy and find ideas about relationship between them. These include the website, libraries, journals, electronic full-text for nursing, that is, books, journals, virtual libraries, other articles and databases.

To evaluating a website containing medical records, determine the website goal; discover the website objectives; website content description, evaluation questions, sources of evaluation data, methods of data collection. The steps performed are performed systematically. First and foremost, find out if the results have been reproduced in other research laboratory or by other scholars. Next step involves an attempt to conclude the study’s credibility.

Look keenly at the material of study that is, if investigators essentially compare two sets of topics or did they just make bservations? If a control was used were the group results comparable? Evaluate the criteria used to conclude this study. Consider the modification and duration of the study. The next step is to look at the conclusions. Consider if they are warranted by the evidence. If one can’t find useful solutions in the website, then it is time to address some questions like: does one have to take illegalized results? How does one know that the product in question is the right one? If the product is or could be the right one, then, what guarantees this?

Moreover one must to know more information on the product. Any information that is relevant should be taken into account. If the person still decides to take the product, he or she should be sure to tell the doctor who can make observation on the side effect about the product. Conclusion Nursing informatics is very important in today’s dynamic technological application. It is very important for nursing professionals to have the knowledge of nursing informatics as this will help them to participate fully in the technology enabled nursing.

Latent Heat of Fusion Essay essay help services

Varian (2014, Ch. 35, Section 1) discusses the effects of a tobacco smoking externality in

Abstract: A calorimeter, water at room temperature, ice, and a Pasco GLS Explorer were used in combination with a known value of the latent heat of fusion to create and carry out an experiment to determine the mass of an unknown amount of ice. Using the formula for latent heat of fusion, the mass of the ice was calculated to be 45.76g. The error of the carried out experiment was calculated to be 20.06%. Introduction:

A substance requires energy to change from one phase state to another, or in other words, when it goes from either a solid to liquid or liquid to gas. The potential energy that is stored between molecules of the substance needs to be overcome by the kinetic energy of the motion of the particles before the substance can undergo the phase change. The temperature of a substance as heat is added to change the phase from the solid state to the gas state is shown below.

Phase changes are indicated by flat regions where heat energy is used to overcome attractive forces between molecules. Starting a point A, the substance is in the solid state. Adding heat brings the temperature up until the substance reaches the melting point, but the material is still a solid at point B. As heat is further added, the energy from the heat source goes into breaking the bonds holding the atoms in place. At point C all of the solid phase has been transformed into the liquid phase. Once again, as energy is added the energy goes into the kinetic energy of the particles raising the temperature. At point D the temperature has reached the boiling point of the substance, but the still remain in the liquid state.

From points D to E thermal energy is overcoming the bonds, and the particles have enough kinetic energy to escape from the liquid state. The substance is entering the gas phase. Beyond E, further heating under pressure can raise the temperature still while the substance remains in the gas state. The energy required to change the phase of a substance is known as a latent heat; the word latent means hidden. When the substance transforms from the solid phase to the liquid phase, the latent heat of fusion must be used. And when the substance changes from the liquid state to the gas state, the latent heat of vaporization is used. The energy required, or latent heat is defined using the following equation: Q= m*L

where Q is energy, m is the mass of the substance that is undergoing the phase change, and L is the specific latent heat of fusion or vaporization. The specific latent heat of fusion measures the amount of heat energy required to change 1 kg of a solid into a liquid.

In this lab experiment, ice was added to pre-weighed, room temperature water in a calorimeter. As the ice melted, temperature of the system decreased. Heat was being added to the ice through the room temperature water. The minimum temperature of the ice water system was recorded. In accordance with the above mentioned equation, along with the known latent heat of fusion of water, a value of 80cal/g, or 334kJ/kg, and the amount of heat added, the mass of the ice could be determined. Purpose:

The purpose of this lab was to use a calorimeter, water at room temperature, ice, and a Pasco GLS Explorer in combination with a known value of the latent heat of fusion to create and carry out an experiment to determine the mass of an unknown amount of ice.

Ethnocentrism, Stereotyping, and Prejudice Essay essay help services

I’ve spent most of the week searching and reading internet blogs, journals and electronic articles; thumbed through various dictionaries available at the library; scrutinized various metropolitan newspapers, to try to have a better understanding about ethnocentrism (1), stereotyping (2) and prejudice (3), and their meanings. I admit to this day, I walk away still confused. Why? After reading the definitions of each of these words, I’ve come to realize that their individual meanings are so near to that of racism (4) , profiling (5), or discrimination (6) – it is difficult to tell them apart.

I decided to go back to a book that I read several months ago written by Dr. Mike S. Adams, Criminal Justice Professor at the University of North Carolina [ (Adams) ]. “… I have been perplexed by the difficulty that many academics have with the proper use of such simple terms as racism, prejudice, discrimination, and stereotyping. They are always getting them confused, while the terms are really quite simple. ” Dr. Adams says … “one needs to understand, differentiate between the three terms describing it “as easy as learning your ABC’s: ‘A’ stands for attitude, ‘B’ stands for behaviour, and ‘C’ stands for cognition.

” Prejudice deals with negate attitudes; discrimination deals with negate behaviors. Though I must admit that after re-reading Dr. Adams’ book, I walk away with the sense that these three words, ultimately still have same meaning – discrimination. However, Dr. Adams’ logic regarding the ABC method does make some sense. Using his analogy, I considered recent events which took place in our town involving several police officers and an unconscious criminal suspect [ (Sims) ].

Though a jury determined that the officers were not guilty, it was evident from the various film footages shown, the suspect was thrown, from his vehicle and was unconscious when the five officers arrived on the scene and proceeded to beat him. Despite the suspect’s colour or status, I, along with many other viewers of different races, sects, etc. , felt that the officers violated the suspect’s civil rights. In my eyes, this was a blatant case of stereotyping, prejudice, and racism.

I even tried to apply the ABC rule: ‘A’ being that the officers in pursuit of the suspect witnessed one of their own being nearly hit during the chase. They (police) immediately demonstrated their ‘white and authoritative’ powers. The officers had the attitude, that all black suspects are possibly armed and dangerous. We’ve a long way to go to remove labels and retrain people’s way of thinking regarding the accepting of others without consideration to their ethnic, cultural or social status. Works Cited Adams, Mike S. Dr. Welcome To The Ivory Tower of Babel: Confessions of a Conservative Professor.

2004. 16 February 2011 . Sims, Bob. “Birmingham News Blog. ” 20 May 2009. 17 February 2011 . Encarta Dictionary (1) Ethnocentrism: a belief in or assumption of the superiority of the social or cultural group that a person belongs to. (2) Stereotyping: to categorize individuals or groups according to an oversimplified standardized image or idea.

(3) Prejudice: an unfounded hatred, fear, or mistrust of a person or group, especially one of a particular religion, ethnicity, nationality, sexual preference, or social status. (4) Profiling: classification of persons based on personal information such as ethnicity, political view or behavioral patterns. (5) Racism: the belief that people of different races have different qualities and abilities, and that some races are inherently superior or inferior. (6) Discrimination: treating people differently through prejudice: unfair treatment of one person or group, usually because of prejudice about race, gender, age, religion or ethnicity.

Bottled Water Essay essay help services

The trend of carrying and consuming water bottles has expenditly increased in recent years, and its popularity has hit an alltime peak. More and more people are using bottled water because of its easy assecability, and its conveince. Unaware to most, the useage of bottled water has dire effects on the environment, and itself can provide several health risks. Although bottled water can serve as a great convience, the harm it causes to the environment outweights its convience immensly and contrary to popular belief, bottled water is often no healthier than tap water.

Despite perceptions that bottled water is healthier than tap water, more times than not, it is not amd bottled water has much more lienant rules when it comes to regulating their water. “Bottled water may be no safer, or healthier, than tap water in many countries while selling for up to 1,000 times the price,” the World Wildlife Fund said. Bottled water continues to increase its revenue, and is the fastest growing beverage industry in the world, worth up to $22 billion a year. More than half of all Americans drink bottled water, and about a third of the public consumers bottled water on a regular basis. The increased sale of bottled water has been fueled by ads on television or in magazines of luxurious mountains and beauitful glaciers with cyrstal clear springs flowing with the so called “purified water.” In reality tho, bottled water is not necessarily regulated better or safer than most tap water. The marketing of bottled water is often misleading, implying that water comes from pure springs, when it does not.

According to government and industry estmates, about one fourth of botled water is bottled tap water, which is by some accounts as much as fourty percent tap water. The FDA’s rules exepmt 60-70 percent of the bottled water that is sold in the United States from the bottled water standards, because FDA said ” Its rules do not apply to water packed and sold within the same state.” The FDA (Food and Drug Administration) is responsible for protecting and promoting public health through the regulation and supervision of food safety, tobacco products, dietary supplements, etc. The FDA also expmets carbonated water and many other waters sold in bottles from its bottled water standards, only applying a vague sanitation rule that failed to set any specific contamination limits.

Contrary to popular belief, the FDA’s rules are weaker in many ways than EPA (Environmental Protection Agency) rules that apply to tap water. The EPA is responsible for protecting human health and the environment by writing and enforcing regulations passed by Congress, and it oversees specially big city tap water. Due to bottled water companies not follwing EPA rules and regulations, their water can be more harmful than tap water. For instance, city tap water can contain no E. coli or fecal coliform bacteria, bacteria that serve as indicators of contamination. The FDA follows no such rule and a certain amount of any type of bacteria is allowed in tap water. Bottled water plants must test for coliform bacteria just once a week, as big city tap water must be tested more 100 times a month.

City tap water must meet standards for certain important toxic chemicals such as phthalate, which can come from plastic, including water bottles. On the other hand, bottled water is also exempt from follwoing this rule. Also, cities must test at least once every four months for many chemical contaminants, water bottlers generally must test only annually. Cities must have their water tested by government-certified labs; such certified testing is not required for bottled water. Although bottled water on the surface appeasr to be healthier to drink, it is quite the opposite and stricter rules for the regulation of bottled water should be placed to ensure the safety their consumers.

People around the world believe that water is clearner and safer to drink than tap water. This has resulted into a multi-billion industry of retailing bottled water, but consequently leads to millions of water bottles being produced every year. Although these water bottles are recycable, it is not smart to recycle these plastics die to the chemical componets that manufacture them. As a result of mass producing these water bottles, it has a serious effect on the environme and millions of empty water bottles end up in landfills every year. One of the harmful effects it has on the environment is it can cause soil contamination as time passes on, and this is mainly due to the chemical the bottle is made up with. These chemicals contaminate the soil and as a result, can also affect the surrounding plant’s grwoth because of the contamination.

“In addition, ground water may end up sinling deeper into the ground and ultimately reaching the ground water reservoir, meaning that natural water resources are being wasted due to the disposal of these water bottles.” exclaimed Joe Hartz. Production of plastic used for water bottles take a lot of energy and resources which can also have negative effects on the environment. Professor Alan Hunt said “Since there is more power requirements for production means more fossil fuel is potentially used to achieve the production of water bottles. This can lead to heavily draining of fossil fuel resources. Add to that the fact that more energy and resources are needed from production to post production of these water bottles which can be considered as a waste of limited energy resources.” Another harmful way water bottles hurt the environment is emit pollutants and as a direct result make the air more hamrful to breathe.

The industrial plants in which these water bottles are being made also produce other harmful wastes that are harmful to the environment. Bottled water produces up to 1.5 million tons of plastic waste per year. According to Food and Water Watch,”plastic requires up to 47 million gallons of oil per year to produce. And while the plastic used to bottle beverages is of high quality and in demand by recyclers.” Also, recent studies have shown The Plastics Symbol no. 7 is a recent concern worldwide on discovery that large numbers of no.7 plastics are made with Polycarbonate plastic which, experimentally were found to leach bisphenol A.”This chemical is a known hormonal disruptor causing miscarriages and birth defects” according to a study conducted by Case Western Reserve scientists.

Although bottled water serves as a great convience, there is many cheap and effective alternatives to carry water and stop the production of water bottles. One way is to buy a distiller or filter to use at home. Distillers are very effective at reducing the levels of most chemicals, except organic chemicals. The distiller boils the water and condenses the steam, removing any contaminants and most chemicals in the process. Filters also serve as a great alternative to bottled water, as it traps particles in a porous material while allowing water to pass through. In this process, it is reducing particles like sand and rust. Although drinking water in the vast majority of homes meets the Environmental Protection Agency’s standards for quality, some homeowners use point-of-use water filtration systems to help reduce certain contaminants.

Most typically, carbon filters are installed on faucets or used in pitchers or bottles. Filter devices are relatively inexpensive and the now clean and purified water can be put into a reuseable stainless steel or aluminum water bottle. These reusable bottles are a cheap alternative and puts back the ease, comfort, and convience of a water bottle but without hurting the environemnt in any way. Another way to help prevent bottled water hurting the environment is making it into a deposit. In doing this, it would encourage more people to recycle the water bottles, as only 20 percent of people currently recycle the water bottles. This would help dramtically cut back on water bottles being put into a landfill, and ultimately saving the environment also and putting money back into the consumer’s pocket.

All these alternatives are act as a great alternative, as they do not harm the environemnt, and in the long run actually save the consumer money. Not only does an in-home filter or distiller only censt ten cents a gallon, it also provides a safer taste than bottled water. Some colleges are starting to take note of this, as bottled water is trickling away from college campuses nationwide, due to the effort of passionate students and non-profits groups. In addition to removing bottled water from vending machines, stores and cafeterias, students have pushed for reusable bottle hand-outs, water fountains, and filling stations. “We’re really trying to make it part of the student culture to carry a water bottle,” says Clare Pillsbury, a Senior at Macalester.

In conclusion, recent studies have shown the harm and the uncleainess of bottled water simply does not outweight its convience. There are many other alternatives that provide cleaner and healthier water than bottled water does. These alternatives also do not harm the environment, and in the long run actually save the consumer money and better circualate the economy. Filtered water or distilled water provide the consumer with a more than adequate source of water,and at this point and time, there is no better choice for purity and a more economically safer choice than filtered tap water.

Iso-osmolar Concentration of Carrot Cells Lab Essay essay help services

For a more thorough understanding of this lab introduction, the concepts of, iso osmolar, membrane, equilibrium, and concentration gradient evaluated. Iso osmolar can be known as the point in which the substance of experimentation faces no change despite the amount of solute inside the solvent( because the solvent and solute concentration is equal. This is where the line on a graph would cross on the x-axis). Selectively permeable membrane can be defined as a microscopic double layer of lipids and proteins that bounds cells and organelles and forms structures within cells and it controls what comes in and out of the cell. Equilibrium is the state of a chemical reaction in which its forward and reverse reactions occur at equal rates so that the concentration of the reactants and products does not change with time.

Before this experiment, we were educated on how osmosis functions. Osmosis is a process which molecules and water take to usually get through a selectively permeable membrane in order to reach equilibrium. It is a passive transport which requires no ATF and water moves from high to low water concentration. When osmosis is completed, there should be an equal concentration o water on both sides of the experiment. We have also learned about the iso osmolar point which is when the concentration of molecules are identical inside and outside. Also, we predicted that if the carrot sticks were placed into higher concentrations of sucrose solutions, then the sticks would loose more water.

The concentration of particles inside the carrot cells will be found by having them placed into various different solutions with different sucrose concentrations. This will cause the carrot cells to either lose or gain water as the control tries to reach equilibrium with the solution. By measuring the carrot mass before the experiment and after they sat in the mixture for two days, we are able to observe the change in mass of the carrots. The amount of water the carrot lost or gained would show the percentage of mass change, which then we can use to conclude the concentration of particles inside the carrot. By finding the iso osmolar point, we are able to find the concentration of particles inside the carrot, because the iso osmolar point exhibits the solution that has the same concentration both in the carrot and out.

The carrot sticks inside the 0.0, 0.2, 0.4, 0.6, 0.9, and 1.0M sucrose mixtures, will have water enter/leave them. In this experiment, the independent variable was the molarity/sucrose concentration of the solutions the carrot sticks were placed into. The dependent variable was the percentage change of mass for the carrot sticks. For about half of the experiments(4/6), water left the carrot cells causing them to loose mass because there was a uneven concentration of water inside the carrot and outside.

In the sucrose solutions in which the carrots lost mass, there was more water inside the cell compared to the outside, causing the water molecules in the carrot sticks to move out into the solution as a result of osmosis. Generally, substances try to spread out and reach the state of equilibrium instead of being concentrated in one area. This is why water enters and leaves the carrots; a result of osmosis. Also, there is a solution of sucrose that is perfect for the carrots sticks, which would result in zero percentage mass change of the carrot. The solution, if it is found, is called the iso osmolar point, which there is no change because there is no concentration gradient.


The results of the lab were fairly accurate because there was no team in the class that had a hugely differing result in their experiment. The 0.0 M sucrose had a +16.71% change in mass as a class average and we had a +21.05% percentage change in mass. The initial mass was 1.9g and the final mass was 2.3g. This happened because the concentration of sucrose inside the carrot was higher than the outside of the cell. The water molecules moved a lot faster into the carrot than the sucrose particles attempting to move out of the sticks through the selectively permeable membrane, thus resulting in a greater mass than the original. The result showed the affects of osmosis, where particles moved to achieve equilibrium. The 0.2 M sucrose had a +8.37% change in mass as a class average and our group and +9.52%. The initial mass for these carrots were 2.1g and became 2.3g when the 2 days had ended. This happened because of the same reason for the 0.0 M sucrose, where the concentration of particles were greater inside the cell compared to the outside of the cell, causing the water molecules moving into the cell through the semi permeable membrane.

However, the solution the carrots were dunked into had a 0.2 M sucrose, unlike the first solution. This caused the mass of the carrot to change less because there was already some particles outside of the cell, allowing for equilibrium to become reached a lot faster than 0.0 M sucrose. In 0.4 M sucrose, there was a class average of -2.34% and we had -4.76%. The initial mass was 2.1g with a final mass of 2.0g. This was the first solution to have a negative percentage change in mass from the other six. There was a decrease in mass of the carrot because water had moved from the carrot sticks into the solution around is trying to achieve equilibrium. The water molecules had moved from high concentration into lower concentration, moving our of the carrot cells, causing them to lose mass.

The 0.6 M sucrose solution had a class average of -11.84% change in mass while we had a -9.52% change in mass. The initial mass was 2.1g and the final mass was 1.9g. This occurred for the same reason that 0.4 M sucrose lost mass; the carrot sticks had a higher concentration of water compared to the solution it was in, causing it to lose water as the H20 particle slide out using the selectively permeable membrane. The mass loss was greater because the difference in sucrose levels were greater, demanding a greater amount of water from the carrots for equilibrium to be achieved. 0.8 M sucrose had a class average of -15.13% and 1.0 M sucrose had a -20.06% change in mass. These two also occurred because of the same reason 0.4 and 0.6 M sucrose lost mass. But, there was a larger amount of water needed to be transferred out in order to reach equilibrium the higher the sucrose level was.

This lab proved the osmosis theory very well, because all six experiments had accurate results because osmosis had occurred in every one of them. Osmosis has the tendency for water to move through the semi permeable membrane from a lesser concentration to a higher concentration(of solute), thus equalizing concentrations on each side. The carrot stick lab showed water moving from inside the carrot to out into the solution because there was a higher concentration of sucrose outside the carrots. Trying to reach equilibrium, the water molecules transferred out into the solution.

By graphing the data out, we were able to find out the iso osmolar point of the carrot sticks. We got the result of 0.4 M sucrose as the point. This number represents the sucrose concentration the carrots would already have equilibrium at, and no need for more osmosis because the concentration of sucrose and water is same or very close to same already. Thus, there wouldn’t be any or little change in mass of the carrot sticks.

There were many possible sources of error in this experiment however, because first of all, the equipment were not brand new. The equipment we have used had been used of various types of labs over the years, and had the chance that they were not properly washed, leaving traces of precious labs. The solutions that got intermixed with these chemicals we were not aware of, could of changed the data and threw us off. There is no idea what kind of chemical was on the glasses, so we could of prevented this by experimenting with never used equipment, or by using very well cleansed ones. By having extra sucrose or any other substance on the beakers and tubes, the solution would have become more hypotonic, thus there would be more movement through the membrane and therefore more mass would be lost or less mass would have been gained.

This is because the left over sucrose in the beaker adds to the concentration of solute. Another source of error could of happened while blotting the carrots onto a tissue after the two days of waiting time. The carrots that were blotted onto the tissue paper probably lost water, and depending on the strength of the person blotting the carrots, they may have squeezed them too hard, altering results from what would have come out. This could of been fixed by having the carrot sticks pulled out by tweezers instead of draining them and picking them up by hand. Finally I think another source of error was temperature, because the temperature day by day would differ. The changing temperature might have caused data to change as of if they were to be placed into a room of constant temperature of the experimenting time.


If you threw a carrot into a jar of pure H20, would the carrot shrink or swell? Explain. I think if we threw a carrot into a jar of pure H20, the carrot would swell up. The carrot cell is also a plant cell, which flourishes best in a hypotonic solution unlike animal cells. The carrot cell wouldn’t explode unlike animal cells because they are equipped with cell walls which the animal cells lack. The cell wall stops the cell from exploding inside pure water. Instead, they are happiest inside pure H20. They are at a stage called turgid which is their normal state.

In winter icy roads are often treated with salt. Why is this likely to lead to the death grasses along the roadside? During winter, when the roads are treated with salt, the environment around it takes damage. The salt is used so that the salt would “melt” the snow . The snow would treat the salt and H20 molecules would stick onto the salt molecule, separating from their “ice box” affect and causing them to melt. However, the salt would also stick onto the grasses along the roadside and suck their life out, in simpler terms. The salt on the grass would have a 100% salinity while grasses in comparison would have a much lower salinity percentage. Because the grass would be a hypotonic solution compared to the salt, it would loose water. Thus the environment would be hypertonic. In effort to reach equilibrium with their surroundings, the grass would have the water pulled out of them towards the salt.

Introduction MLA citation

“Diffusion.” And Osmosis. N.p., n.d. Web. 27 Jan. 2013. .

Biography of Georg Simon Ohm Essay essay help services

Georg Simon Ohm (16 March 1787 – 6 July 1854) was a Bavarian (German) physicist and mathematician. As a high school teacher, Ohm began his research with the new electrochemical cell, invented by Italian scientist Alessandro Volta. Using equipment of his own creation, Ohm found that there is a direct proportionality between the potential difference (voltage) applied across a conductor and the resultant electric current. This relationship is known as Ohm’s law. Ohm died in Munich in 1854, and is buried in the Alter Südfriedhof.

Early years

Georg Simon Ohm was born into a Protestant family in Erlangen, Bavaria, (then a part of the Holy Roman Empire)son to Johann Wolfgang Ohm, a locksmith and Maria Elizabeth Beck, the daughter of a tailor in Erlangen. Although his parents had not been formally educated, Ohm’s father was a respected man who had educated himself to a high level and was able to give his sons an excellent education through his own teachings. Of the seven children of the family only three survived to adulthood: Georg Simon, his younger brother Martin, who later became a well-known mathematician, and his sister Elizabeth Barbara.

His mother died when he was ten. From early childhood, Georg and Martin were taught by their father who brought them to a high standard in mathematics, physics, chemistry and philosophy. Georg Simon attended Erlangen Gymnasium from age eleven to fifteen where he received little in the area of scientific training, which sharply contrasted with the inspired instruction that both Georg and Martin received from their father. This characteristic made the Ohms bear a resemblance to the Bernoulli family, as noted by Karl Christian von Langsdorf, a professor at the University of Erlangen.

Life in university

Georg Ohm’s father, concerned that his son was wasting his educational opportunity, sent Ohm to Switzerland. There in September 1806 Ohm accepted a position as a mathematics teacher in a school in Gottstadt bei Nydau. Karl Christian von Langsdorf left the University of Erlangen in early 1809 to take up a post in the University of Heidelberg and Ohm would have liked to have gone with him to Heidelberg to restart his mathematical studies. Langsdorf, however, advised Ohm to continue with his studies of mathematics on his own, advising Ohm to read the works of Euler, Laplace and Lacroix. Rather reluctantly Ohm took his advice but he left his teaching post in Gottstadt bei Nydau in March 1809 to become a private tutor in Neuchâtel. For two years he carried out his duties as a tutor while he followed Langsdorf’s advice and continued his private study of mathematics. Then in April 1811 he returned to the University of Erlangen.

His private studies had stood him in good stead for he received a doctorate from Erlangen on 25 October 1811 and immediately joined the staff as a mathematics lecturer. After three semesters Ohm gave up his university post. He could not see how he could attain a better status at Erlangen as prospects there were poor while he essentially lived in poverty in the lecturing post. The Bavarian government offered him a post as a teacher of mathematics and physics at a poor quality school in Bamberg and he took up the post there in January 1813. This was not the successful career envisaged by Ohm and he decided that he would have to show that he was worth much more than a teacher in a poor school. He worked on writing an elementary book on the teaching of geometry while remaining desperately unhappy in his job.

After Ohm had endured the school for three years it was closed down in February 1816. The Bavarian government then sent him to an overcrowded school in Bamberg to help out with the mathematics teaching. On 11 September 1817 Ohm received an offer of the post of teacher of mathematics and physics at the Jesuit Gymnasium of Cologne. This was a better school than any that Ohm had taught in previously and it had a well equipped physics laboratory. As he had done for so much of his life, Ohm continued his private studies reading the texts of the leading French mathematicians Lagrange, Legendre, Laplace, Biot and Poisson. He moved on to reading the works of Fourier and Fresnel and he began his own experimental work in the school physics laboratory after he had learnt of Oersted’s discovery of electromagnetism in 1820. At first his experiments were conducted for his own educational benefit as were the private studies he made of the works of the leading mathematicians.

The Jesuit Gymnasium of Cologne failed to continue to keep up the high standards that it had when Ohm began to work there so, by 1825, he decided that he would try again to attain the job he really wanted, namely a post in a university. Realising that the way into such a post would have to be through research publications, he changed his attitude towards the experimental work he was undertaking and began to systematically work towards the publication of his results [1]:- Overburdened with students, finding little appreciation for his conscientious efforts, and realising that he would never marry, he turned to science both to prove himself to the world and to have something solid on which to base his petition for a position in a more stimulating environment. In fact he had already convinced himself of the truth of what we call today “Ohm’s law” namely the relationship that the current through most materials is directly proportional to the potential difference applied across the material.

The result was not contained in Ohm’s firsts paper published in 1825, however, for this paper examines the decrease in the electromagnetic force produced by a wire as the length of the wire increased. The paper deduced mathematical relationships based purely on the experimental evidence that Ohm had tabulated. In two important papers in 1826, Ohm gave a mathematical description of conduction in circuits modelled on Fourier’s study of heat conduction. These papers continue Ohm’s deduction of results from experimental evidence and, particularly in the second, he was able to propose laws which went a long way to explaining results of others working on galvanic electricity. The second paper certainly is the first step in a comprehensive theory which Ohm was able to give in his famous book published in the following year.

Teaching career

Ohm’s own studies prepared him for his doctorate which he received from the University of Erlangen on October 25, 1811. He immediately joined the faculty there as a lecturer in mathematics but left after three semesters because of unpromising prospects. He could not survive on his salary as a lecturer. The Bavarian government offered him a post as a teacher of mathematics and physics at a poor quality school in Bamberg which Ohm accepted in January 1813. Unhappy with his job, Georg began writing an elementary textbook on geometry as a way to prove his abilities. Ohm’s high school was closed down in February 1816. The Bavarian government then sent him to an overcrowded school in Bamberg to help out with the teaching of mathematics.

Memorial for Ohm at the Technical University of Munich, Campus Theresienstrasse After his assignment in Bamberg, Ohm sent his completed manuscript to King Wilhelm III of Prussia. The King was satisfied with Ohm’s book, and offered Ohm a position at the Jesuit Gymnasium of Cologne on 11 September 1817. This school had a reputation for good science education and Ohm was required to teach physics in addition to mathematics. The physics laboratory was well-equipped, allowing Ohm to begin experiments in physics. As the son of a locksmith, Ohm had some practical experience with mechanical devices. Ohm published Die galvanishe Kette, mathematisch bearbeitet (The Galvanic Circuit Investigated Mathematically) in 1827. Ohm’s college did not appreciate his work and Ohm resigned from his position. He then made an application to, and was employed by, the Polytechnic School of Nuremberg. Ohm arrived at the Polytechnic School of Nuremberg in 1833, and in 1852 he became a professor of experimental physics at the University of Munich.

The discovery of Ohm’s law

Further information: Ohm’s Law

Ohm’s law first appeared in the famous book Die galvanische Kette, mathematisch bearbeitet (tr., The Galvanic Circuit Investigated Mathematically) (1827) in which he gave his complete theory of electricity. In this work, he stated his law for electromotive force acting between the extremities of any part of a circuit is the product of the strength of the current, and the resistance of that part of the circuit. The book begins with the mathematical background necessary for an understanding of the rest of the work. While his work greatly influenced the theory and applications of current electricity, it was coldly received at that time.

It is interesting that Ohm presents his theory as one of contiguous action, a theory which opposed the concept of action at a distance. Ohm believed that the communication of electricity occurred between “contiguous particles” which is the term Ohm himself used. The paper is concerned with this idea, and in particular with illustrating the differences in this scientific approach of Ohm’s and the approaches of Joseph Fourier and Claude-Louis Navier. A detailed study of the conceptual framework used by Ohm in producing Ohm’s law has been presented by Archibald. The work of Ohm marked the early beginning of the subject of circuit theory, although this did not become an important field until the end of the century.

Ohm’s acoustic law

Further information: Ohm’s acoustic law

Ohm’s acoustic law, sometimes called the acoustic phase law or simply Ohm’s law, states that a musical sound is perceived by the ear as a set of a number of constituent pure harmonic tones. It is well known to be not quite true.


* Guidelines for an appropriate treatment of geometry in higher education at preparatory institutes / notes

* The Galvanic Circuit Investigated Mathematically

* Elements of analytic geometry concerning the skew coordinate system

* Fundamentals of physics: Compendium of lectures

Best Buy Failure in China (International Business) Essay essay help services

In the world today, there are many companies getting involved in international business, and developing to become a multinational company. Why do these firms want to take the multinational route? One of the dominant frameworks to explain the existence of these multinational companies is the Ownership-Location-Internalisation (OLI) paradigm (Dunning & Lundan 2008).

Running an international business is different from running a domestic business. International business requires you to recognise and understand the cultural differences between countries. Failing to recognise and understand this difference could possibly lead to many difficulties, or worse still, failure. In this essay, I will be discussing the difficulties that Best Buy Co. Inc. faced, and its eventual failure due to the lack of understanding of the cultural differences in its host country, China.

The rise of China has matured into hope for the entire consumer electronics industry. The country’s 1.3 billion consumers and their fast increasing buying power have transformed China into the world’s largest consumer electronics market, a market opportunity that multinational giants cannot afford to neglect (Chen & He 2005). As such, Best Buy was just one of the many multinational companies that tried to enter the Chinese market.

Best Buy Co. Inc.

Best Buy is a multinational retailer of consumer electronics from the United States and operates in the United Kingdom, Canada, Turkey, Mexico, China as well as its home country. Started as the Sound of Music in 1966 as an audio specialty store by Richard M. Schulze, it was later changed to Best Buy Co., Inc. by the board of directors in 1983 and is now the leading consumer electronics retailer in the United States (Pederson 2004). Best Buy sells consumer electronics as well as a wide selection of related merchandise such as music, mobile phones, computers, computer software, DVDs, Blu-ray discs, video games, digital cameras, video cameras as well as home appliances.

The multinational used a two-track approach to enter the Chinese market. The consumer electronics giant first opened a sourcing office in Shanghai in 2005 and began its efforts to expand into the Chinese market in May 2006 by foreign acquisition. The multinational invested $108 million to obtain a majority stake in China’s fourth largest consumer electronics retailer, Jiangsu Five Star Appliance (Bloomberg 2006). Soon after in December 2006, the company used the greenfield mode of entry and opened its first “Best Buy” store that followed their own US business model, in Shanghai’s busy Xujiahui shopping district.

By imposing a US business model, Best Buy intended to convince fastidious Chinese customers with helpful and dependable service in clean, pleasant outlets. The chairman and general manager of Best Buy China, Lu Weiming declared that they were confident with the store model they had, which will differentiate them from competitors and consequently help them win the consumers’ heart (Kurtenbach 2006). The company later opened another eight stores, which increased the total number of “Best Buy” stores in China to nine.

Problem Identification

According to the China Daily on March 21, 2011, Jiangsu Five Star Appliance continued to expand. However, Best Buy’s expansion was slow and was not running as smoothly as anticipated. “The multinational brought in a Western business model and it failed to sufficiently attract the Chinese clients and customers,” said Chen Can, a senior analyst from Analysys International (China Daily 2011).

Best Buy’s business model in the US, where the brand markets itself as delivering a better service than competitors, did not go well in China. After being in the Chinese market for five years, the company only managed to open nine stores, capturing less than one per cent of the Chinese market as according to analysts. Failing to catch on in the Asian country, the company decided in February, 2011, to close its headquarters along with all its nine stores (Birchall, Strauss & Waldmeir 2011).

Causes of the problem

Even though the company opened a sourcing office in 2005, the multinational still had a lot to learn about the Chinese and the way they did business. “The lesson we learned is that we got too far ahead of the Chinese consumer in how business is done in China,” said Brian Dunn, Best Buy’s Chief Executive (Groth 2011). He said the company’s mistake had been to open big box stores with fixed prices that were staffed entirely by Best Buy’s blue-shirted employees (Jopson & Waldmeir 2011). Clearly, Best Buy entered the Chinese market in 2006 with a lack of knowledge of the local consumer’s culture.

International strategy is a strategy where the firm uses the core competency, which it developed at home, as its main competitive weapon in the foreign market (Sumantra & Nitin 1993). This is the strategy which Best Buy used. The company did not enter China with the intention to hire local talent who knew how to be successful in China. Rather, it entered the country intending to create talent that knew how to be successful in the United States (Adam 2011). When the multinational first entered the Chinese market, many people hoped that it would successfully replace the prevailing, yet widely criticised Chinese business model that focused on price-centred competition (Ni 2011).

Imposing their core competency in the US model, the company offered “a concept ahead of the consumer,” said retail analyst Paul French of Access Asia which was based in Shanghai (Macleod 2011). Best Buy provides a premium shopping experience for its consumers, to which the Chinese consumers were ultimately not willing to pay for (Jopson 2011).

Consumers in China are generally different from consumers in the United States. Wei and Salil (2010) stated that the Chinese consumers have a higher cognitive age perception, lower levels of physical health status and lower life satisfaction levels as compared to their American counterparts. Eastman et. al. (1997) conducted a study and found that there were statistically significant differences between the two, such that Chinese consumers were more materialistic than those in the United States. Eastman’s research was later backed up by Schmitt’s (1999) studies. In addition, Schmitt found that the Chinese consumers were more brand conscious and would go shopping with brands as a key influencing factor.

The cross-cultural study above is just one of the reasons as to why Best Buy failed to attract consumers in China. For instance, the company’s store in China generally divides up electronics and other large-ticket items by category (Birchall, Strauss & Waldmeir 2011). However, the Chinese are inclined to put more faith in brand names than consumers in the US do. Due to this reliance on brands as a deciding factor, the Chinese consumer would generally prefer items in the store to be categorised according to their make rather than function.

Another cause of the company’s failure in attracting Chinese customers lies in the fact that all sales staff in the store were the company’s direct employees who donned the ubiquitous blue Best Buy uniform. This was a stark difference to the scene in typical Chinese outlets, where consumers were accustomed to subsections of electronics stores being manned by the manufacturer’s own employees, who were also able to offer specialist knowledge (Jopson 2011).

At the same time, Best Buy’s market research showed that Chinese consumers liked to try out new products. While this was true, what eventually happened was that the Chinese shoppers would first go to Best Buy to try out products, before promptly marching across the street to one of the other Chinese retailers and buying the said product for less (Adam 2011). This was partly due to the pricing in Best Buy stores, which was based on a fixed-price policy (Jopson 2011) and only served to push the Chinese consumer even further away. As stated by Montlake (2006), bargaining is a way of life in China. Chinese consumers like bargaining and they are used to negotiating with the salesperson to get a discount, which was not an option in Best Buy.

Not only is bargaining not an option, the prices at Best Buy were also set at a premium as it followed the company’s US model of offering high-quality service and a better shopping experience to consumers, such as the opportunity to try products before making a purchase. However, that did not seem to suit the immature Chinese market very well (Ni 2011). Purchasing decisions made by Chinese consumers are determined by price and not service (Birchall, Strauss & Waldmeir 2011). At the same time, Chinese consumers had the perception that Gome and Suning, two of Best Buy’s biggest competitors, were able to under cut Best Buy’s prices significantly (Adam 2011).

Chinese consumers care more about price than service (D’Altorio 2011). The Chinese do not penny-pinch and save because they like to, but because they have to. They voluntarily tax themselves so as to protect against the absence of a welfare safety net. If a Chinese consumer gets old, he will need that money to survive, since state pensions remain inadequate. As his parents age, he will need to support his elders, especially since he is likely to be their only child, a result of the country’s one child policy. This reality is what perpetuates and engenders the low-cost, bargain basement Chinese retail environment (French 2007).

To top it off, Best Buy’s choice of a Chinese name left many consumers pondering over its decision. A country steeped in traditions and superstitions, many Chinese consumers commented that the company’s Chinese name, “Bai Si Mai”, was a bad one as it literally meant “to buy after thinking 100 times” (Ni 2011).

Overall, the company’s business model, like its Chinese name, showed a lack of understanding for the Chinese culture. It tried too hard to educate Chinese consumers about high-end service value when lower prices were typically the only value that motivated them to make quick decisions. The consumer electronics giant’s overconfidence in transforming the Chinese consumer philosophy finally hurt its performance in the Chinese market. Maintaining only a small market presence in China, Best Buy not only failed to please its consumers, but its suppliers too, who did not receive many orders from the company (Ni 2011).

Proposed Solutions

There are huge cross-cultural differences between the US and China. Therefore, one change I will make if I was Best Buy is to take up a multi-domestic strategy instead of the international strategy adopted by the company. Multi-domestic strategies involve a high degree of customisation to the local market place (Hout, Porter & Rudden 1982). This is important, noting the huge cultural gap between the China and the US. Hill, Hwang and Chan (1990) also stated that a multi-domestic strategy is based on the belief that national markets differ widely with regard to consumer preferences and taste, competitive conditions, operating conditions and social structures.

According to organisational capabilities theory, in order to leverage its competitive advantages in the foreign market, an enterprise must understand its business environments and adapt its operation modes to the host country (Xu, Hu & Fan 2011). This is also in line with the multi-domestic strategy, to which Anne-Wil (2002) has highlighted the need of multi-domestic companies to deal with markets where products tailored to local circumstances are required; and to be able to do so, companies need to be well aware of the local market and be well-integrated into it. This can be easier achieved by acquiring an existing company that possesses a knowledgeable work force and good connections in the local market.

As such, the mode of entry decided upon by a multinational is a critical and strategic decision. To support the multi-domestic strategy and aligning with conditions in China, I will still first enter the Chinese market using foreign acquisition. Foreign acquisition involves having to invest in a local firm and in this case, I will be investing in Jiangsu Five Star Appliance.

Acquiring Jiangsu Five Star Appliance will create access to local resources as well as knowledge of the Chinese retail environment within a much shorter span of time (Cristina & Garcia-Canal 2004). Acquisition is also a more effective way of exploiting foreign resources and markets as compared to joint ventures or licensing, as supported by the transaction cost theory (Hennart 2010).

Tapping on the knowledge and expertise of Jiangsu Five Star Appliance, I will then use the greenfield method, which is the setting up of a new company legally independent from parents, to set up a Best Buy store in China (Cristina & Garcia-Canal 2004). By using a multi-domestic strategy, the management seen in the greenfield approach will be more similar to that of acquisitions (Anne-Wil 2002).

The consequent Best Buy outlets will then be managed and accustomed to the Chinese market. For instance, as most Chinese consumers shop by brands, the store will therefore be segregated by brands rather than product category. Sections of the store will also be rented out to brand manufacturers and their designated areas will be staffed with their own sales team, so that consumers can receive specialised knowledge as well as bargain for a lower price.

The store will not be carpeted or provide services like allowing consumers to test out the product before purchase. This is to prevent the Chinese consumers from having the perception that the store is pricier as compared to competitors, especially since China is a highly price-conscious market. As French (2007) aptly stated, “win on price and you win, period”. It is therefore of utmost importance to have a lower price as compared to competitors.

In order to provide lower prices, I will acquire the real estate, instead of renting or leasing the property like my two biggest competitors Gome and Suning do. This will provide me with a great advantage as I can lower rental prices for the manufacturers, who can then pass the accumulated savings down to the Chinese consumers.

Noting the Chinese aversion to inauspicious names, I will also conduct sufficient research and preparation into choosing a Chinese name for the store before its opening. Instead of using a direct sound conversion of the brand name like “Bai Si Mai”, I will translate the brand name by meaning instead, such as “Zui Hao Mai”. This literally means “best buy”, and doubles up as a call that encourages consumers not to miss out on a deal.


In conclusion, China is a huge and growing market with tonnes of opportunities that multinationals cannot afford to neglect. However, there is a huge cultural divide between China and countries from the west like the United States. Entering the Chinese market will require multinationals to recognise and understand the cultural difference between their homeland and the Chinese market.

Best Buy failed in China due to a lack of knowledge and understanding of cross-cultural differences. Although the company chose the correct mode of entry by first using foreign acquisition followed by the greenfield approach, it failed because it adopted an international strategy thinking that Chinese consumers will welcome the same offerings that reflect its core competency in the US — value-added service.

Thinking it could import its success in the US to China by focusing on the same areas, Best Buy’s targeted service approach failed to take off in a climate governed by financial sensitivity. While focusing on providing consumers with a great shopping experience, the company failed to consider a fundamental portion of the retail environment — price, which affects Chinese consumers much more than service.

To improve on this situation, I would first enter the Chinese market through foreign acquisition, so that I may gain access to knowledge about the culture in China before starting on the greenfield route. However, instead of using an international strategy, I will opt for the multi-domestic strategy by adapting my operations towards the needs of Chinese consumers.

This would circumvent the issues that led to the company’s downfall in China. Due to the country’s rich traditions, its people are habitual and tend to shy away from the unfamiliar. Should Best Buy have chosen to use a multi-domestic strategy, it would have realised the need to customise its offerings in accordance to local tastes and might have gone on to capture a larger share of China’s consumer electronics market.

Reference List

Adam, M. 2011, ‘Bye-Bye, Best Buy (China): You had it coming’, Adam Minter of Shanghai Scrap, 22 February, Viewed 22 August 2012,

Anne-Wil, H. 2002, “Acquisitions versus Greenfield investments: International strategy and management of entry modes”, Strategic Management Journal, vol. 23, no. 3, pp. 211-227.

Birchall, J., Strauss, D. & Waldmeir, P. 2011, Best Buy brand shuts up shop in China and Turkey, London (UK), United Kingdom, London (UK).

Bloomberg 2006, Best Buy chain on road to China, Tulsa, Okla., Tulsa, Okla.

Chen, X. & He, Z. 2005, ‘Understanding the Structure of China’s Consumer Electronics Market: An Empirical Investigation of Its Consumer Segments’, Multinational Business Review, vol. 13, no. 2, pp. 43-61, viewed 15 August 2012, Proquest database.

China Daily 2011, ‘Best Buy seeks the best way to survive’, China Daily, 21 March, (Business section), Viewed 20 August 2012,

Cristina, L.D. & Garcia-Canal, E. 2004, “The Choice Between Joint Ventures and Acquisitions in Foreign Direct Investments: The Role of Partial Acquisitions and Accrued Experience”, Thunderbird International Business Review, vol. 46, no. 1, pp. 39-58.

D’Altorio, T. 2011, ‘How the Chinese Consumer Defeated Best Buy’, Investment U Research, 10 March, Viewed 22 August 2012,

Reference List

Dunning, J.H. & Lundan, S.M. 2008, “Institutions and the OLI paradigm of the multinational enterprise”, Asia Pacific Journal of Management, vol. 25, no. 4, pp. 573-593.

Eastman, J.K., Fredenberger, B., Campbell, D. & Calvert, S., ‘The Relationship Between Status Consumption and Materialism: A Cross-Cultural Comparison Of Chinese, Mexican, And American Students.’, Journal of Marketing Theory & Practice, Winter97, vol. 5, no. 1, pp. 52.

French, P. 2007, ‘When the Best Buy Is No Buy’, The Wall Street Journal Asia, 07 August, United States, Hong Kong.

Groth, A. 2011, ‘Why Best Buy’s Overseas Strategy is Failing’, Business Insider, 04 November, Viewed 22 August 2012. .

Hennart, J. 2010, “Transaction Cost Theory and International Business”, Journal of Retailing, vol. 86, no. 3, pp. 257-269.

Hill, C.W., Hwang, P. & Chan, K.W. 1990, “An Eclectic Theory of the Choice of International Entry Mode”, Strategic Management Journal (1986-1998), vol. 11, no. 2, pp. 117-117.

Hout, T., Porter, M. E., Rudden, E. 1982, ‘How Global Companies Win Out’, Harvard Business Review, viewed 25 August 2012, .

Jopson, B. 2011, ‘Best Buy seeks ways to return brand to China’,

Jopson, B. & Waldmeir, P., 2011, Best Buy seeks ways to return brand to China, London (UK), United Kingdom, London (UK)

Reference List

Kurtenbach, E. 2006, Best Buy opens store in China — Top U.S. electronics retailer to offer wide array, better service, Memphis, Tenn., United States, Memphis, Tenn.

MacLeod, C. 2011, Best Buy, Home Depot find China market a tough sell, McLean, Va., United States, McLean, Va.

Montlake S. 2006, ‘China’s newest shopping craze: ‘team buying’ ; More and more consumers meet online before banding together at stores to bargain down prices’, The Christian Science Monitor, Boston, Mass., United States.

Ni, V. 2011, Best Buy’s Withdrawal: American Morals Fail to Transcend Chinese Consumer Market, Asia Briefing Ltd., viewed 20 August 201. .

Pederson, J.P. 2004, International directory of company histories, St. James Press.

Schmitt, B. H. 1999, ‘Consumer Segmentation in China’, In Marketing Issues in Transitional Economies, Rajeev Batra eds. Norwood, MA: Kluwer Academic Publishers.

Sumantra, G. & Nitin, N., ‘Horses for courses: Organizational forms for multicultural corporations’, Sloan Management Review, pp. 27, 31.

Wei, Y. & Salil, T., 2010, ‘Materialism of Mature Consumers in China and USA: A Cross-Cultural Study’, Journal of International Business and Cultural Studies, vol. 2, pp. 1-14, viewed 15 August 2012, ProQuest Central.

Xu, Y., Hu, S. & Fan, X. 2011, “Entry mode choice of Chinese enterprises: The impacts of country risk, cultural distance and their interactions”, Frontiers of Business Research in China, vol. 5, no. 1, pp. 63-78.

Bernie Madoff Essay essay help services

Bernard L. Madoff (Bernie) is still making news headlines. He is currently incarcerated for numerous illegal and unethical behaviors. I am going to: Describe three types of illegal business behavior alleged against Bernie and explain how the behavior is illegal or unethical. Name three types of parties who were impacted by the actions of Bernie and how. Describe three business safeguards that may have prevented the harm caused by Bernie. Describe three ways investors might have better protected themselves from risk. Describe three legal actions that possibly may be brought against Bernie under criminal or civil law. And provide an analysis on the causes and actions of Bernie as well as the measures taken to prevent this action in the future.

Bernie started making money legitimately through Bernard L. Madoff Investment Securities L.L.C.(BLMIS), one of the most successful broker-dealers on wall street, specializing in over-the-counter stocks. He was a market maker, meaning he both bought and sold stocks and profited by selling stocks for a few cents more per share than he bought them for. People trusted him, believed in him. Nasdaq make him its chairman, and the SEC appointed him to industry panels. (Bandler, Varchaver, Burke, Kimes, & Abkowitz 2009) Bernie, and by association BLMIS, seemed to have special status. BLMIS set itself apart from others in the way that it made its money.

Normally market makers made their profit from the spread, the difference between what they bought stocks for and what they sold them for, which in the beginning was ~12.5 cents a share. BLMIS paid firms as much as two cents a share for their business. He made less money per sale but made up for it by doing more business. His company attracted customers because it was faster and cheaper. By the early 1990’s BLMIS executed more than nine percent of the daily trading volume. But in 1997 the rules governing trading spreads changed and the spread kept getting smaller. (Bandler, et all 2009) The market making operation’s profits got smaller and smaller and were sometimes non-existant.

BLMIS occupied two and a half floors of the Lipstick building. The legitimate market making business operated on the 19th floor using one outdated IBM Application System/400 computer known as House 5. (Dodge 2009) The software programmers and information technology operated on the 18th floor. Half of the 17th floor was the “fake trading operation where a second IBM AS/400, known as House 5, processed historical price information on securities allegedly bought for clients.” (Dodge 2009) Only a few people knew about floor 17 and even fewer had access. Basically, House 17 manufactured official- looking statements for clients and created a massive, though completely fake, paper trail.

So how did BLMIS stay in business? Bernie used his illegal investment business to subsidize his legal trading operation. Bernie was subsequently charged with three counts of money laundering, which involved transferring atleast $250 million from his fraudulent business through his London operation to his legitimate New York business. (Bandler, et all 2009) He was also charged with Fraud, theft, and perjury. Bernie first started managing money in the early 1960’s, though it was not reported to the SEC so he was not being regulated.

It started with close family and friends and grew in larger and larger circles. Bernie was charismatic and subtle. He cultivated relationships, gained trust, and swayed opinions without people realizing what he was doing. That is part of why he was able to remain under the radar so to speak for so long. When outsiders started questioning his results and realized that something didn’t make sense they brushed it off because it was Bernie, you could trust him. He was a pioneer in electronic trading, though he embellished frequently.

Madoff, for now obvious reasons, didn’t want everyone to know about his investment business. You only heard about it through mouth to mouth advertising. He was secretive to the point of threatening investors that he would give them their money back if they told anyone about it. (Bandler, et all 2009) His investors felt privelaged to be among the select few that he took money from.

House 17 was a closed system, it ran completely separate and distinct from any other computer system. It was also extremely outdated, they had to input data by hand and couldn’t share it electronically. Some employees were concerned about this but assumed it was because Bernie wasn’t very good with technology and didn’t want to learn a new system. House 17’s purpose was to maintain phony records, crank out millions of phony IRS 1099s on capitol fains and dividends, trade confirmations, management reports, and customer statements. The computer used special programs that used algorithms to produce false and random results. (Dodge 2009)

Bernie was supposedly using a split strike conversion strategy. He would “buy” basket stocks and use puts and calls to create a ceiling and floor to limit risk. He could only make so much money, but he could only lose so much as well. In theory his investing genius consisted of knowing the best time to enter or leave the market based on BLMIS legitimate trading. Basically he was using insider information to choose the best investments at the right time. If this was true and he was front running then his results would still have to correlate with the market atleast between 30%-80%. However, Bernie’s records showed only a 6% correlation coefficient and his performance showed a 45 degree return line, a feat downright impossible in finance. (Markopolos 2010)

“While Bernie didn’t acknowledge that his money management operation was a hedge fund, that’s the way he was set up.” (Markopolos 2010) When you protect long stock options by selling other stocks short you’re working with hedge funds. Hedge funds were also basically unregulated. The largest Hedge Funds managed about $2 billion, Bernie was managing an estimated $65 billion. For Bernie to be trading this volume of stocks it would have shown up in the market. Upon closer look an educated financier would have also seen that Bernie would’ve been trading more options than actually exsisted.

Another red flag to investors is due diligence. When investing millions of dollars a sane investor would conduct a thorough due diligence, or make sure the numbers and operations are real. Bernie denied companies due diligence, and yet many still handed him their money. His investors felt they were entering into an elite club. Bernie was a legend. If you couldn’t trust him with your money, you couldn’t trust anyone. (Markopolos 2010) Other investors that knew what Bernie was doing was impossible turned a blind eye. He was their crook and even if he got caught they thought they would only lose their profit. His competitors were in awe of him. They were determined to figure out how he did it so they could replicate his results. When they couldn’t, they figured Bernie to be a smarter man.

The United States Securities Exchange Commision”s (SEC) mission is to “protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation” according to their website. The SEC can take civil action, refer suspected criminal activities to state or federal prosecutors, and revoke licenses and prevent companies and individuals from participating in the market. However, the SEC has limited investigative authority, does not regulate over-the-counter markets, and their audit is mostly a paper chase. (Markopolos 2010) However, Markopolos alone went to the SEC with documented evidence of Bernie’s fraud five times and he still wasn’t stopped. In 2005 the SEC did launch an investigation but after two and a half years they didn’t even know the 17th floor existed. (markopolos 2010)

Bernie’s scheme hurt a lot of people and affected almost everyone. The most obvious are the people that directly invested their money with him. They lost everything. Some companies that handled retirement plans, college savings plans, and/or mortgages took the money given to them by many different customers (in one case 80% of their clientell) and created a feeder fund to invest with Bernie. Their clients often lost everything without even knowing he had their money. Many charitable organizations, philanthropic foundations, and nonprofit organizations were also largely affected, some loosing everything. Some of these include: the Robert I. Lappin Charitable Foundation, the JEHT Foundation, the Chais Family Foundation, The Shapiro Family Foundation, the New York Public Library, the Children’s Health Fund, the City Parks Foundation, the Jewish Outreach Institute, and the Metropolitan Museum of Art.

Bernie didn’t just steal from the rich, as many have said, he was also stealing from communities, poor, and sick. Government treasuries were also affected. “Because of the fraudulent nature of returns associated with Madoff, many investors will have the right to reclaim taxes paid on phantom gains at the state and gederal level.” (Kansas 2009) Bernie’s family was affected. Whether or not they knew about it, or helped him pull it off, their names will always be associated with what Bernie did. They have probably lost all respectability, trust, credit, and employability (atleast in the financial industry) for decades to come. Similarly anyone who worked for Bernie will probably never work in the financial industry again and will continue to be associated with him. Friends, family, and employees also lost their money, retirement, and savings.

The jewish community has also suffered. Bernie himself was jewish and many wealthy Jews invested their money with him. Many fear(ed) that these circumstances will increase anti-Semitism in the U.S. (Kansas 2009) Many college students have been affected as well. Bernie will be studied, taught and researched in universities across the country and I would imagine that many, many papers will be written on the subject. Due to that fact, in an abstract way paper companies, ink producers, and the environment have been affected due to the large amount of research articles, newspaper articles, and notes taken on his scheme, written about him, and printed out for writing research papers.


Bandler, J., Varchaver, N., Burke, D., Kimes, M., & Abkowitz, A. (2009). HOW BERNIE DID IT. (cover story). Fortune, 159(10), 50-71. Retrieved from Business Source Premier database. Dodge, J. (2009). The IT SECRETS: Behind Bernie Madoff’s Ponzi Scheme. Bank Technology News, 22(12), 26-29. Retrieved from Business Source Premier database.

Balloons Paper Essay essay help services

Why does a hot air balloon float even though it is so heavy?

Hot air balloons float because the buoyancy force of the hot air is more than the weight. Buoyancy occurs because the hot air has a lower density than the cooler outside air. This lower density air weighs less than the air it replaces and that difference is the buoyancy.

What makes balloons float when they are full of air but not float when they are deflated?

Balloons float when they are full of hot air because the hot air weighs less than the air that is in the chamber which results in a floating balloon.

Starting with a hot air balloon, figure out how to make the balloon float. What factors affect the balloon floating or sinking? Explain three of these factors and your understanding of why this works as it does.

When the air is heated in the balloon, it cause the balloon to rise. This is because hot air is less dense than warm. Over time, if no more hot air is pumped into the balloon, the air cools and so the balloon falls.

Move to the rigid hollow sphere. What does it mean that the sphere is “rigid?”

A rigid sphere refers to a sphere that possesses an impenetrable shell

5. Play with the parameters of the simulation and get the sphere to float. How is the sphere floating similar to and different from the floating hot air balloon?

The sphere is similar to the hot air balloon in its bobbing motion when nothing is added to the system. However, when species are added to the inside of the sphere, the result ends with a sinking sphere. This is much different than the hot air balloon when a gas species was added to the inside of the balloon which resulted in more a floating action in the balloon. They both behave similarly when exposed to different species as they are added to the chamber. The species bounce off of both the balloon and sphere which alter their path. They both react the same to heat and cold. Both sink with cold temperatures and float more with hotter temps.

How will you get the helium balloon to float? Explain how you plan to set all the parameters to get the balloon floating.

By understanding that when balloons float they have helium in it. Helium is not air, but a gas. It’s lighter than air, which makes it float. So, hopefully by adding helium to the balloon and making the air heavier, the balloon will rise.

7. Set the parameters as you predicted above. Did it work? If so explain why this worked. If not explain why your predictions didn’t work and what you did to change it.

To get the helium balloon to float, one must add helium atoms to the ballon, pump a small amount of heavy species into the chamber and increase the pressure exerted on the chamber. The result is that the helium weighs less then the surroundings which results in the balloon floating.

Summarize your findings, how does a hot air balloon that is so heavy float in air?

The air particles in hot air are much further apart, making the air less dense. The colder surrounding air’s particles are much closer, making them more dense. The lighter hot air rises above the denser cold air, thus the hot air balloon is airborne.

Bad Effects of Smoking Essay essay help services

Cigarette smoking is usually associated with breathing trouble and lung cancer. But smokers are at a high risk of developing several chronic disorders. Along with high blood pressure, high cholesterol, obesity and diabetes, smoking is a major independent risk factor for a coronary heart disease or kidney failure. It causes damage by decreasing the oxygen flow to the heart. It increases the blood pressure and heart rate, both of which are fatal for the heart. A cigarette has many types of poisons, including carbon monoxide, hydrogen cyanide, tar and most of all, nicotine. Apart from that, there are many other poisonous ingredients of varying toxicity. Nicotine is addictive and affects the arteries in a negative manner. Heartbeat increases, hypertension occurs and arteries get constricted due to nicotine. Oxygen supply to the heart is stopped due to carbon monoxide.

Blood clotting and clogging gets increased. In the case of coronary artery, the supply of oxygen-rich blood to the heart gets decreased due to narrowing of the arteries. This strain leads to a chest pain or angina pectoris. Apart from the long-term bad effects, cigarette smoking affects the body right at the moment of smoking due to the presence of so many poisonous substances. Arsenic is a rat poison, methane is a rocket fuel, ammonia is used in floor cleaning, cadmium is used in batteries, carbon monoxide is part of car exhaust and hydrogen cyanide is a poison used in gas chambers. Every time one inhales smoke from a cigarette, all these poisonous chemicals enter into the blood through the lungs in small amounts. Even small amounts of such deadly poisons can harm the body. Smoking makes one smell bad, stains the teeth, causes the skin to wrinkle and gives bad breath.

Cavities are found three times more in smokers than non-smokers. Hormone levels get lower due to smoking. Smokers cough for a long time. They are more prone to bronchitis and pneumonia. Smokers fall sick more often. Every time one inhales smoke from a cigarette, some of the air sacks in the lungs get killed. This way, parts of the lungs gradually get destroyed. This hampers activities like sports or singing where proper breathing is necessary. Smoking paralyzes the hair-like structures called cilia lining the lungs. They become incapable of sweeping out dust particles, smoke and pollens from the lungs. As a result these particles stay permanently in the lungs and form tar.

Cigarettes are as bad as cocaine or heroin. The poisonous addictive in nicotine makes people feel good while smoking. This increases the chances of lung cancer or emphysema. One ends up being sick for a long, long time. Smoke from a cigarette increases fatty deposits in the blood and strains the heart. The risk of a heart disease and atherosclerosis gets aggravated due to this. Atherosclerosis is a disease in which fatty substances like cholesterol, cellular waste, calcium etc are deposited along the lining of arteries in a human body. LDL cholesterol increases and HDL cholesterol decreases due to smoking. Triglycerides increases and affects the cholesterol levels negatively.

Health Research Assignment | Homework Help Websites essay help service

To complete this Assignment, write a 2- to 3-page paper that addresses the following:

Summarize the Tuskegee Syphilis Study.
Discuss how each of the four ethical principles can be applied to the case (autonomy, beneficence, non-maleficence, and justice). Provide specific examples.
Discuss some of the legal and ethical lessons that can be learned from the Syphilis Tuskegee Study.

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The request has 4 different assignments that are related. The public corporation to use for all 4 assignments is AT&T.

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write a 2 pages  assignment on Checklists for Diving In and Threat Modeling .

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