Preparing to Write and Drafting the Paper Essay Example for Free

Preparing to Write and Drafting the Paper Essay When it came to writing all these papers I gave myself time to think about the topics and tried to make sure I understood them before I sat down to write the essays. I have never really been a strong writer when it came to essays in high school it was not an easy task for me. I never had a good strategy when it came to actually writing the papers and putting everything in order. I figured out how to stop worrying so much about getting the assignment turned in on time because that would always stop me from thinking more about the paper then it would turn out bad and I would even up getting a bad grade which would make me feel horrible. I figured out that I should worry more about the paper and then I would be able to focus on the paper so I would be getting it done on time as well. My strategy for writing a paper requires me write a rough draft, take sometime to reread it and then type it making sure everything is spelled correctly. Then making sure all my grammar is correct through out my entire paper also, making sure that I have the correct punctuation everywhere its needed. Then after typing up everything I go through the paper one last time to make sure there isn’t anything I need to add or take out which is usually where I see where I need to change my sentence structure and add certain works or move sentences to different paragraphs. With this class it’s actually been a good experience for me when it came to writing papers and trying to get everything done either early or on time. My writing process has improved with taking this class because I have actually taken time to figure out what I’m going to write about when it comes to the subject and I take care of the assignment in a timely manner. These essays all seem to me that they can be directed to the same audience and can be given with the same enthusiasm because they can be directed to some one in their 20s or 30s because it talks about taking an online courses along with other things along those lines. It would be a speech that I would defiantly be interested in because of how the person would talk to us also with the vocabulary they use because it wouldn’t be a speech that I couldn’t understand. When someone is trying to give a speech or write an essay its difficult when your trying to gauge what type of audience when they are giving a speech or when they are writing a essay trying to figure out if they covered all the important points that need to be covered and that is going to give you the best grade you can get with the course your taking either online or in a classroom. When you first start out with a paper you are a little unsure as to what you are trying to tie together in the very first paper you write but they you figure out what you need for the next couple papers and it gets a little easier for constructing the paper. Trying to get people interested in the subject you are writing or speaking about can be one difficult task because people tend to get bored very easy or they want to learn, about something different not the subject that you are talking about. Papers are what you seem to make them because you can either make them hard or you can make them easy on yourself. If you stress yourself out then you make it more difficult but if you make it easy by trying to take what time your given to make it a good paper. Making sure everything is in the right order that you professor will accept it a very big deal because they look for little mistakes and want you to do the best that you can when it come to the well being of your grade and your class. When you put it all together and present it to either your professor or your audience it can go either one of two ways good or bad. You can always hope it goes good but sometimes you can get some criticism when it comes to what was good and what was bad to your paper or speech. Just making sure everything is in order and how you want everything to be good.

Derivatives in Financial Market: Portfolio Management

Derivatives in Financial Market: Portfolio Management Derivative Structures in the Market and Their Place in Corporate Portfolio Management Abstract Derivatives are financial instruments that do not hold independent value, but where instead the value of the instrument is based on the underlying value of a given asset, which can range from financial assets such as stocks, bonds and market indexes to commodity assets such as oil, gold or wheat, to more obscure or exotic assets such as weather or other exotic assets. The four main categories of derivative include forwards, futures, options and swaps, each of which is used for a different risk control technique and each of which has its own unique structure, risk, and potential for return. Derivatives are commonly used in financial firms to balance portfolios and reduce risk by spreading it across the market, or in order to mitigate potential risk by limiting it (for example, placing a ceiling or floor on currency exchanges or purchases). This paper explores the use of derivatives in the financial market, including their use in portfolio management. Following a thorough definition of the derivative, the paper explores the use of derivatives in portfolio management and other banking activities, and offers a substantive risk assessment that addresses the potential difficulties that the use of these instruments may pose as well as a description of the benefits of using derivatives. The paper also explores ways in which actual financial institutions use derivatives through examination of public reports and other available information, in order to determine what current practice is in the use of these reports. The report concludes with recommendations for portfolio managers within financial institutions regarding the use of these instruments for risk management as well as the potential dangers of their use. The study is intended to provide an overview guide to this material and an analysis of existing research that can be used for further research and understanding of the subject material. Chapter 1 Introduction to the Research Project The use of derivatives in corporate risk management has come under scrutiny recently in the news, following reports of credit risk derivatives being used improperly by some firms and banks during the mortgage lending collapse of 2007-2008. However, while these instruments may be misused, they also hold an important role in both financial and non-financial firms in hedging risk and balancing corporate portfolios and investments. Derivatives can be used in a number of different applications. These applications include balancing risk across a number of different investors, gaining access to foreign currency or reducing currency exchange risk exposure, and reallocating loan risk across lending portfolios within or among banks. While these instruments clearly have benefits in terms of balancing, spreading and reducing risk to the individual investor, corporation or bank, there are still considerable risks that must be considered. For example, credit risk derivatives were at fault for revenue losses because they were improperly calculated to be less risky than they actually were. Conversely, a currency option, one type of derivative that reduces the potential for risk in currency exchange rates, could end up being a poor rate if the market does not change in the expected manner. These are just a few of the risks that can be encountered within the use of derivatives in financial and non-financial firms. This paper presents an overview of the types of derivatives available, the risk involved in using the derivative, and other important factors that must be considered in its use. Research Aims The main aim of this research is to explore and identify the derivative structures in the financial market and examine different corporate responses to the changes in the market and uses of these derivatives. The research also examines the impact posed by changes in the market on the corporate portfolio strategy. By first providing an overview of the different types of derivative structures available, and then analyzing corporations in order to identify how they use these structures, the research paper analyzes corporate portfolio diversification as a strategy and explores the potential for derivatives in financial markets. Research Objectives The main research objectives of this project include: Definition of the structure and application of derivatives Definition of the risk posed by application of derivatives in a competitive market Description of the common usage and potential impact of derivatives on the financial institution Examination of the impact of market changes in the corporate portfolio within the financial institution Identification of the limitations and risks of derivatives as used in the corporate portfolio Identification of appropriate risk management and portfolio management strategies Importance of the paper Sustained changes in the financial and competitive environment of industries, increasing globalization and increasing complexity of financial markets has led to an unprecedented period of currency and interest rate volatility worldwide. In order to counter this increase in risk, innovative foreign exchange risk and interest rate risk hedging techniques have developed at a rapid pace. Although these derivatives are intended to assist in risk management and risk minimization, particularly in terms of uncertain cash flows and currency exchange rates, their use has been uncertain, as instruments grow increasingly exotic. This paper will provide a guide to derivatives and their use in the financial market, as well as provide a clear understanding of the risks involved in the use of derivatives and their appropriate application to risk management, as well as discussion of how the risk of the derivatives themselves may be handled. This information can be used by investment risk managers and others in order to guide policies regarding the use of these instruments and allow for an increased understanding of the underlying issues involving these instruments. Methodology overview The methodology that will be used is that of desk research and meta analysis. This method will assemble information from a large number of sources, including primarily secondary research, and organize and analyze it in such a way as to create an understanding of the research material in the general case. This information will be able to be used for description of the operation and formulation of derivatives in a number of markets. Data collection The main data collection technique used in this discussion will be secondary research or desk research. This method was chosen both because of the limited time available to perform the survey and because of the amount of information already available on the subject matter. Secondary information will include primarily a literature review, which will provide background and theoretical information that can be used in order to form an overall picture of the theory and practice of using derivatives and derivative structures. Other secondary data will be used to examine the issues at hand for analysis, including materials such as company reports, journal articles and time series, and previously conducted surveys that address the subject matter. However, it should be noted that derivatives are not ordinarily considered reportable assets, and so may leave little trace on company reports and discussions. As such, generalized information from sources such as the Bank for International Settlements will be used as much as possible rather than specific firm information. Data analysis Following the collection of data using the method described above, the data will be analyzed using a number of techniques. Analysis methods are intended to be both quantitative and qualitative, in accordance with the data available for analysis. Quantitative analysis will be exploratory and descriptive, using data summaries in such methods as charts, tables, and descriptive statistics. Qualitative analysis techniques that will be used will include categorization, development and analysis of relationships, and descriptive techniques. This data analysis will be used in order to create an overall view of the data that can be used in order to explore the research questions. Organization of the paper The table below presents the organization of the remainder of the paper in terms of chapter numbers and contents. Chapter Contents Chapter 2 Literature review and context review Chapter 3 Methodology overview Chapter 4 Presentation of results of analysis, discussion of results and examination of risk and risk mitigation strategies for firms using derivatives Chapter 5 Conclusions and recommendations for further study Table 1 Organization of the paper Summary This chapter has presented an overview of the aims and objectives of the paper as well as the methods that will be used to explore the research objectives. It will provide a guide to the remainder of the paper. The next chapter, the Literature Review, provides insight into the structure and definition of derivatives as well as providing insight into their use in financial markets. Chapter 2 Review of the Literature In order to provide background and theoretical information for the discussion in the following chapters, this chapter presents an overview of the current state of affairs concerning derivatives and their use in the financial firm. This includes a description of the definition of derivative, the varying types of derivatives and what their uses and significance are, and a description of their current use in the banking context in order to examine the overall importance of derivatives in portfolio management. This chapter will also provide an overview of the concepts of portfolio management in order to examine issues involved in the use of derivatives. Definition of derivatives Although there are a number of different definitions of derivatives, the basic principle of the derivative is that it is not, in and of itself, an asset or investment; instead, it is a financial instrument that is based on the value of an underlying asset or instrument (Hunt Kennedy, 2004, p. 1). As such, it should be clear that as a derivative has no independent financial value, it should not be considered to be an investment per se; if the firm wishes to make an investment in the underlying asset, it is more appropriate to do so directly. Instead, derivatives are used to gain potential access to cash flows, risk, currency exchanges or other valuable items or to distribute risks across a number of different users, markets, or geographic areas rather than assigning all risk to a single portfolio or individual (Hunt Kennedy, 2004, p. 3). Derivatives may be based on the value of a wide range of underlying instruments, including stocks, bonds, indexes, exchange rates, interest rates or the prices of commodity such as wheat, oil or livestock (Hunt Kennedy, 2004). More exotic underlying instruments include credit risks of packaged assets and even long-range weather forecasts; however, these exotic underlying instruments fall outside the scope of this discussion and will not be examined in-depth. Underlying concepts There are a number of underlying concepts that must be understood if the idea of the derivative is to be fully described. The first such idea is that of replication. In brief, replication is the portfolio of assets (trading strategy that will pay out an identical amount to the payout of the derivative in any potential trading circumstance (Hunt Kennedy, 2004, p. 3). In other words, the balance of the portfolio, on which option pricing theory is based, is dependent on its ability to mirror the price of the option that it is compared against. The second important underlying idea is that of arbitrage. Hunt and Kennedy (2004, p. 3) defined arbitrage as a trading strategy that generates profit from nothing with no risk involved. Arbitrage opportunities are assumed not to exist in the trading of derivatives; although it is clear that some random arbitrage opportunities might exist, they cannot be counted upon in a trading strategy and should not be considered for the purposes of this analysis. The underlying security is defined as the security involved in an option or other derivative transaction (Chorafas, 2008, p. 36). In other words, the underlying security (or underlying asset) is the security or asset from which the derivative derives its value, like a commodity such as oil, gold or wheat. These underlying securities rarely actually change hands (although it may occasionally occur). As Chorafas noted, while the underlying security may be based in an asset or liability, it cannot be considered to be an asset or liability itself, but is instead intended only to hedge risks from other market areas. Chorafas demonstrated that the relationship between the underlying security and the derivative is likely to be nonlinear; that is, the price of the derivative will not depend immediately on the price of the underlying security, but will instead be offset by other factors. The figure below demonstrates this nonlinear relationship. Figure 1 Nonlinear relationship between the value of derivatives and underlying instruments (Chorafas, 2008) The idea of notional principle amount, or face amount, is the amount of money on which the trade is based; however, this money is never actually intended to change hands, it only provides a basis for such characteristics of the derivative as interest rate calculation or other bases for engaging in the trade (Chorafas, 2008, p. 36). This may be specified not only in currency, but also in any other relevant measurement, such as shares, kilos, gallons, bushels, or whatever the natural means of measuring the underlying asset might be. Types of derivatives There are a wide range of types of derivatives, and custom derivatives are often assembled in order to meet the requirements of the parties involved in the trade that do not easily coincide with the definition of any standard type. However, the four major categories of derivatives include options, forwards, futures and swaps. Each of these types has a different structure and different uses within the market, and each is traded differently within the market. The description, structure and main uses of each of these types of derivatives are described in detail below. Options An option is an instrument that gives the buyer the opportunity (but not the requirement) to purchase a given instrument at a specific time for a specific price (Chorafas, 2008, p. 39). An option may be a call option (guaranteeing the buyer the right to buy the underlying good at the set price) or a put option (guaranteeing the owner the right to sell the underlying good at the strike price) (Kolb, 2003, p. 4). The buyer of an option may decide to exercise it (in which case they take delivery of the underlying) or to not exercise it (in which case it expires); if the buyer does exercise the option (decide to take delivery) the seller must give it to them for the agreed-upon price. The price at which the buyer may exercise the option is the strike price, while the price paid to the seller for the option is known as the premium (Chorafas, 2008, p. 40). The expiration date is the date by which the option must be exercised is the expiration date. The type of option will determine whether the option can be exercised only on that date, at any time prior to that date, or at certain specific times prior to the expiration date. American options can be exercised at any point up to the expiration date, while European options allow exercise only on the expiration date (Kolb, 2003, p. 507). A Bermuda option has set intermediate dates between the purchase and the expiration date at which it may be exercised (Kolb, 2003). There are also a number of exotic options that provide more customized payment, delivery and exercise agreements that may rely on the price of the underlying asset; for example, a barrier options exercise depends on the value of the underlying asset reaching a price specified in the contract, while an Asian option depends on the average price of the underlying security (Kolb, 2003). A so-called plain vanilla option, however, depends only on the current price of the underlying and other characteristics of the option such as exercise price and time until expiration (Kolb, 2003, p. 577). Caps, floors and collars are particular characteristics of a given option, which are intended to limit exposure to upside and downside risk (Smith Walter, 2003, p. 84). A cap, commonly used in an interest rate swap as well as other options, fixes the upper rate of exchange, while a floor similarly fixes the lower rate of exchange; as can be envisioned, a collar fixes both the upper and lower rates of exchange in order to reduce the potential for risk. Options are extremely popular derivatives that are used in both financial and nonfinancial firms for portfolio balance. Forwards A forward, or more properly a forward contract or option, is structured in much the same way as an option; however, rather than the exercise of the instrument being optional at the expiration date, exercise is mandatory at that time (Kolb, 2003). A basic definition of a forward was given by Kolb, who remarked, A forward contract always involves a contract initiated at one time; performance in accordance with the terms of the contract occurs at a subsequent time. Furthermore, the type of forward contracting to be considered here always involves an exchange of one asset for another. The price at which the exchange is set at the time of the initial contracting. Actual payment and delivery of the good occurs later (Kolb, 2003, p. 2). Forward contracts are commonly used in currency exchange operations and other transactions in which the individuals involved wish to reduce uncertainty; for example, in a currency exchange forward, the seller ensures the present value of the trade, as does the buyer. Although the currency exchange rates may fluctuate over the time between the contract and the expiration date, the risk for each party will be reduced because they will be able to protect themselves from changes in the currency exchange (Kolb, 2003). As such, forwards are commonly used for securing access to foreign currency or other underlying assets that an individual will need in the future at a risk-controlled price. In effect, the use of forwards removes uncertainty from the future business climate, therefore reducing risk. Forwards may also be used in order to create a position in the weaker currency when performing interest rate hedging (Smith Walter, 2003, p. 43). In effect, the investor attempts to determine when a weak currency is going to undergo a currency collapse (such as the 1997-1998 Asian market collapse, which began with a weakened currency in Thailand), and then purchases interest rate forwards in this currency, then waits for the interest rate in the country to drop as monetary policy shifts to propping up the currency rather than attempting to slow growth. However, this strategy is not without risk because there is always the potential that the currency may not depreciate or, if it does, that the requisite interest rate drop will not occur, or will not be sufficient to make the investment worthwhile. Futures Futures are an even more specialized form of the option. Futures contracts, which always trade on organized exchanges rather than in over the counter transactions, are a type of forward contract with highly standardized and specified contract terms futures contracts are highly standardized with a specified quantity of a good, and with a specified delivery date and delivery mechanism (Kolb, 2003, p. 3). According to Kolb, performance on a futures contract is also guaranteed with by a clearing house, or a financial institution that guarantees the integrity of the market, and are protected by margin, or security payments posted by traders as a good-faith indication of willingness to trade (Kolb, 2003, p. 3). Futures, unlike other forms of derivatives, trade in a regulated market and as such may not be as complex to handle as other forms of derivatives such as forwards. Futures are most commonly used for trade in commodities, and are often used by nonfinancial institutions rather than financial institutions. Swaps Unlike the other forms of derivatives, a swap is not just a specialized form of option, but is instead a different type of instrument. A swap is an over-the-counter instrument involving the exchange of one stream of payment liability for another (Smith Walter, 2003, p. 75). According to Smith and Walter, this derivative has only developed since the 1980s, with an increasing use of derivatives by non-financial corporations in order to reduce risk and reduce cost of listing on stock and bond markets. Swaps, as contingent values, are also not listed on financial reports, which allow firms to manoeuvre their full investment in a given position if desired (Smith Walter, 2003, p. 76). Common swaps include interest rate swaps and currency exchange swaps. Currency swaps allow firms to exchange their exposure to currency risk (for example, by limiting the amount paid in interest from one position to another) by exchanging currency rates from one to the other. Historical currency swap rates demonstrate the overall growth in currency swaps. The table below demonstrates the growth in currency rate swaps over the top ten traded currencies in 2000. As can be seen, the Euro almost immediately became prominent, with rapidly increasing amounts of currency swaps overtaking the currency as it was instituted. The use of currency swaps is extremely common in financial and non-financial firms that require protection from currency risk. For example, those with operations in multiple countries (Smith Walter, 2003). Currency Notional Amount Traded Per Year (Historical Figures) 1998 1999 2000 Australian dollar 206 365 387 Canadian dollar 594 647 623 Danish Kroner 28 37 40 Euro 4,667 5,981 Hong Kong dollar 89 321 450 Japanese yen 5,319 4,236 4,254 New Zealand dollar 10 6 3 Norwegian Kroner 48 127 103 Pound Sterling 2,512 2,242 2,391 Swiss franc 419 459 456 Table 2 Historical trades in currency swaps, 1998-1999 (Smith Walter, 2003) Interest rate swaps allow for firms to exchange interest rates on funds, often in exchange for future value of a payment stream. As noted by Smith and Walter, these instruments are advantageous because they allow for the transfer of potential immediate interest risk, as well as offering individuals access to funds at lower interest rates. In addition to an immediate swap, a pair of traders may engage in what is called a forward swap, in which payments at some time in the future are fixed rather than immediately exchanging hands (Smith Walter, 2003, p. 83). These derivatives are not commonly used in the financial world, but may take place for example in order to fix interest rates through the duration of a long-term building project or perform similar interest rate fixation. Credit derivatives Of particular current concern is the credit derivative, which protect the lender against loan default in much the same way as a loan guarantee. According to Smith and Walter (85), the major types of credit derivatives include total return swaps (in which the potential returns from a risky underlying loan instrument are exchanged for a lower, but less risky, guaranteed return); credit default swaps (in which an upfront fee is exchanged for coverage in the case of a default on the underlying loan instrument); and the credit linked note (in which the buyer makes a series of payments to the seller, which are returned if there are no credit difficulties during the lifetime of the loan) (Smith Walter, 2003, p. 86). Banks have commonly used these derivatives in the recent past in order to limit their exposure to consumer debt; however, as the recent subprime mortgage crisis in the United States has shown, reckless use of credit derivatives may not be appropriate. Many hedge funds (estimated by Douglas to be a tenth of the total market) specialize in credit derivatives, following a number of different strategies for engaging in credit derivatives trading and arbitrage. The authors noted that of the participants in the credit derivative markets, the majority of funds that specialized in credit derivatives worked in emerging debt markets and convertible arbitrage opportunities, rather than in less risk, but less rewarding, areas such as distressed debt and high yield debt (Douglas, 2007). The risks of credit derivative instruments will be explored more fully in Chapter 3, Data and Analysis. Derivative trading Derivatives are traded in one of two ways. Over the counter derivatives (OTC derivatives) are derivatives that are traded directly between private parties, rather than being traded through an exchange (Smith Walter, 2003). Some of the most commonly traded derivative structures that are traded over the counter include swaps (which are usually custom-packaged in order to meet the needs of both parties involved in the trade) and exotic options and other custom-packaged derivative products (Smith Walter, 2003). These instruments are best traded over the counter because of their custom nature; the OTC sale format allows for customization of the package in order to meet the needs of the purchaser in terms of portfolio balance and risk adjustment (Chorafas, 2008, p. 58). However, this flexibility comes with a cost in risk undertaking, as there is no open market value of the instrument in order to ensure that the buyer does not overpay (Chorafas, 2008, p. 59). Although precise figures on the trade of OTC derivative instruments are difficult to obtain due to the private and non-reported nature of the trades, evidence points to a very large market for these instruments. According to the Bank for International Settlements, the estimated international trade in OTC derivatives as of December 2007 was approximately 596,004 billion US dollars (Bank for International Settlements, 2007). The second form of derivative trading is exchange-traded derivative trading, in which derivatives are listed on exchange for buyers and sellers in much the same fashion as stock or bond markets (Chorafas, 2008). The potential for overpricing that exists in OTC derivatives is not present in exchange-traded derivatives, because the existence of the open market results in the establishment of a fair market value for the derivative (Chorafas, 2008, p. 60). However, many types of derivatives are traded in derivative exchanges; most commonly, interest rate swaps and commodity forwards and futures are available on derivative exchanges (Chorafas, 2008, p. 75). While customization of derivative packages is not possible, for some purposes the use of a traded derivative is entirely sufficient to meet the needs of the portfolio management problem, and should be considered as lower cost than creating a customized over the counter derivative sale. According to the Bank for International Settlements, the exchange trading activity in derivatives during the 2nd quarter of 2008 (March to June) totalled 600,465 billion US dollars, which represented a total trade volume of 2,397 million contracts in total (Bank for International Settlements, 2008). Portfolio management The main use of derivativ Louis Isadore Kahn | Architect Biography Louis Isadore Kahn | Architect Biography Louis Kahn was one of the most renowned personalities of the 20th century Architecture. The impact that he made with some of his works was so remarkable that he was rightly compared with Corbusier and Mies Van Der Rohe. Louis Kahns work made huge impact specifically on the younger generation who were more willing to try out the non-traditional way of designing buildings. Louis Kahn truly believed that all architects should thrive for unparalleled excellence which would help them make an ever-lasting impact on the society, as seen by the works of Greeks and Eygpt. Keeping this goal in mind, Louis Kahn devoted his entire career in seeking perfection and pursing excellence. Louis Kahns best works are located in India, US and Bangladesh and incidentally they were produced in last two decades of his career. His works represent precise integration and assembly of structure, a silent admiration for materials and lights, a dedication to classical geometry, and a great deal of concern for human values. Louis Kahn was considered a enigmatic thinker or more like a philosopher who wanted to bring out change in the field of Architecture. BACKGROUND Born in 1901 in Estonia, Russia, Louis Isadore Kahn is considered to be one of the most influential architects of the second half of the twentieth century throughout the world. Louis Kahn migrated to the U.S. along with his family in his early years (in 1905). After completing his graduation from the University of Pennsylvania in 1924, Louis Kahn started his career as a draughtsman and later worked as head designer in several other firms in Philadelphia. He also worked in the offices of Philadelphias leading architects, Paul Cret (1929-1930) and Zantzinger, Borie and Medary (1930-1932). In the latter half of 1930s Louis Kahn served as a private consultant to the Philadelphia and The United States Housing Authority. His knowledge in modern architecture expanded when Kahn worked with European emigres Alfred Kastner and Oskar Stonorov. In the early 1940s Louis Isadore Kahn associated with Stonorov and George Howe, with whom Louis Isadore Kahn designed several wartime housing projects. K ahn was not only an American architect, but was also an educator and philosopher. Until 1947, Kahn had worked with a series of partners, after which, Kahn set up his independent/private practice. It was during this year, that Kahn also began with his influential teaching career atÂÂ  Yale University as Chief Critic in Architectural Design and Professor of Architecture (1947-1957) and then at the University of Pennsylvania as Cret Professor of Architecture (1957-1974). SIGNIFICANT ELEMENTS OF DESIGN Kahn wanted to redefine the bases of architecture through a re-examination of structure, form, space, and light; since his earlier work abstained from the international style modernism. Earlier works of Kahn had a traditional international style of architecture. However somewhere in the middle of his career, Kahn turned his back on this traditional approach and pursued innovation by redefining the use of structure, light, form and space. Louis Kahn described his quest for meaningful form as a search for beginnings, a spiritual resource from which modern man could draw inspiration. It is widely believed that Louis Kahn, who was then a Resident Architect at the American Academy in Rome, was extremely impressed by the astonishing architectural feats of Greeks, Egyptians and the Romans and this triggered the change in his approach of designing the buildings. Other experts believe Kahn was also influenced by the part of Philadelphia where he grew up. There were many factory buildings with large windows. These brick structures were very solid. This industrial design is apparent in several of Kahns early works. The impact of this European experience can been seen in Louis Kahns latter works. The work undertaken by him in last two decades of his life demonstrated a sincere desire to create a sense of place, showcased the true side of structure, and demonstrated the successful application of Platonic geometry principles. Louis Kahn must be credited for re-introducing various concepts which most of the modern architects had deserted like centralized spaces, using extensive geometric principles and demonstrating solid mural strength. Kahns buildings are admired for outstanding use of geometric shapes and implementing platonic geometry principles which creates magnificent experience for the users. Louis Kahn is credited in re-defining modern architecture in more than one ways. For e.g. Kahn was known to appreciate the appearance and feel of different materials that he used in his work. Kahn is also known to have used brick and concrete extensively and his innovative usage of these materials demonstrated his talent to the world. Kahn realised the importance of sunlight and was highly impressed by its usage in Egyptians and Greek works. Hence Kahns works demonstrates wide-scale implementation of sunlight through different kinds of interesting windows and openings. Egyptian works also inspired Kahn to use extensive geometric shapes and hence we find many of his buildings taking shape of squares, circles or triangles. Louis Kahns vision on how an architect can make difference to his design can be seen from the masters own words. A building is like a human, an architect has the opportunity of creating life. The way the knuckles and joints come together make each hand interesting and beautiful. In a building these details should not be put in a mitten and hidden. Space is architectural when the evidence of how it is made is seen and comprehended. EXAMPLES OF PROJECTS WHERE ELEMENTS OF LOUIS KAHN DESIGN WERE IMPLEMENTED All these elements of design philosophy can be seen in all the works of Louis Kahn starting from his first mature work the addition to the Yale University Art Gallery (New Haven, Connecticut, 1951-1953). This is considered to be Kahns first architectural masterpiece where one can see that much prominence has been give to the structural innovations demonstrated by hollow tetrahedral concrete ceiling and floor slab system, which was a mater-piece, a fantastic design of placing the mechanical and electrical systems. Kahns magnificent artistic sense can be seen from the design of the triangle-shaped staircase which sits in a rounded concrete shell, defining the servant space to be distinguished from the served spaces of the building. Richards Medical Research Building at the University of Pennsylvania (1957-1965) and the Salk Institute for Biological Studies (LaJolla, California, 1959-1965) demonstrated magnificent use of spaces and is the primarily responsible for the origin of the phr ase served and servant spaces. Kahn applied his principles to create masterpieces, which made a great deal of sense to the usage of space and light. His buildings, like the Yale Art Gallery extension (1951-53) or the Trenton Boathouse in New Jersey (1954-59) or even the Richards Medical Towers in Philadelphia (1957-62), create astonishing effects with the change in light, all possible due to the intelligent use of space and light. As a result, the user gets an entirely different experience of working in the building during different times of a day. By constructing Salk Institute in La Jolla, California (1959-67), Kahn created another masterpiece which had extraordinarily inspiring sequence of buildings. Richards Medical Towers This building demonstrates many key elements of Louis Kahns architecture. All these elements have been used before by other architects but not all at the same time. Through this structure, Kahn demonstrates the application of servant and served spaces, overcomes the problem of in sufficient lighting and more importantly integrates form, material, and process. As stated by Romaldo Giurgola and Jaimini Mehta, Richards Medical Towers represents a significant turning point in contemporary architecture. Salk Institute in La Jolla This particular building emphasizes the principle, Keep it simple and strong. Through this building, Kahn has achieved astonishing use of space, may it be the space available for Laboratories where research is conducted, or may it be the office space where ideas arise. This institute shows a wonderful collaboration of mind and action. The buildings beautiful concrete surfaces ensure precise detailing and magnificent experience. The structure is created in such a way that it takes care of the need to enclose specific spaces and does not rely on a general envelope to cover such specific space. Paul Heyer, described the central court of the building in a very artistic way. The central court, as a typical Kahn-like space of shimmering blue water, a band pointing toward the ocean epitomizing what human endeavour can accomplish at one scale with geometric clarity and authoritative but modest deliberation, to give to the scale less sweep of the ocean, here the Pa cific, a poignant gesture. Louis Kahn was known for his ability to create epic architectural structures that showcased human scale. He predominantly used brick and bare concrete as his building materials and he used highly refined surfaces like travertine marble for reinforcing the textures. (http://www.answers.com/topic/louis-kahn) Beyond its functional role, Louis Isadore Kahn believed architecture must also evoke the feeling and symbolism of timeless human values. Louis I. Kahn attempted to explain the relationship between the rational and romantic dichotomy in his form-design thesis, a theory of composition articulated in 1959. In his personal philosophy, form is conceived as formless and unmeasurable, a spiritual power common to all mankind. It transcends individual thoughts, feelings, and conventions. (http://architect.architecture.sk/louis-isadore-kahn-architect/louis-isadore-kahn-architect.php) Integral to Kahns notion of timeless form in the making of significant architectural spaces is the role of natural light. Louis Isadore Kahn described structure as the giver of light. For several projects located in hot sunny climates, such as the U.S. Consulate in Luanda, Angola (1959-1962). the meeting houses of the Salk institute, the Indian Institute of Management (Ahmadabad, India, 1962-1974), and the National Capital at Dhaka, Louis Isadore Kahn developed visually dynamic sunscreens. Great walls with variously shaped openings shield inner rooms from the harsh light. The evocation of a wall in ruins suggests an ancient part Louis Isadore Kahn s handling of light is a central theme in two unrealized synagogue projects, Mikveh Israel (Philadelphia Pennsylvania, 1961-1972) and Hurva (Jerusalem Israel, 1967-1974) as well as in one of his greatest works the Kimbell Art Museum (Fort Worth, Texas. 1966-1972). In the art museum, light enters through narrow slits in the concrete cycloid vaults and is diffused through the gallery interiors, which are rich with travertine and oak. Kimbell Art Museum This Louis Kahns masterpiece in Fort Worth is a beautiful demonstration of outmost perfection which can be compared only to the works done by the Greeks. Kahn used all the tools and available resources with such flawlessness, that it produced a building which had all the components working in a sychronized way and the system as a whole worked perfectly. It is difficult to find any building that does not utilize the materials properly and this one is no exception. INSPIRATION FOR OTHER ARCHITECTS Louis Kahns philosophy and extraordinary work has had influence on quite a number of contemporary architects. Tadao Ando, in his early twenties, took intiative and travelled throughout Japan, Europe, Africa and the United States for his architectural studies. He never took any formal training in the field of architecture. He would study architecture by observing the actual buildings and reading books of renowned architects such as Le Corbusier, Mies Van der Roher, Louis Kahn, etc. After he had gathered enough knowledge through his journey across different countries, he started his own practice. When asked about defining his style of architecture, Tadao had once said that, To me, walls are the most basic elements of architecture, and in all my works, light is an important factor. The Benetton Communications Research Center (Italy) and the Naoshima contemporary art museum, (Japan) showed that Tadoa Ando was truly inspired and has learned a lot from the works of Louis Kahn. Renzo Piano (born in 1937) completed his graduation in architecture in 1964 after which he worked in his family business. From 1965-1970, Renzo Piano worked in the offices of Louis Kahn (Philadelphia) and ZS. Makowski (London). Along with Renzo Piano, another famous architect who was greatly influenced by Louis Kahn was Richard Rogers. Renzo Piano met Richard Rogers at the Expo70 in Osaka and both immediately realized that they had common interests. One of the most famous projects of Renzo Piano Richard Roger is that of Georges Pompidou Centre in Paris. The building was designed in such a way, as if it were turned inside-out, with the services visible on the exteriors of the building making the inside of the building light and airy. Thus, this building can be said to be made on the similar basic concept which Kahn had applied years earlier in the Arts Centre where because of his theory of served and servant spaces, huge services ducts rose up through the building. Hence, it can be s afely concluded that Renzo Piano and Richard Roger were both influenced by Louis Kahn. Architect Norman Foster is another famous personality influenced by Louis Kahn. Foster happened to study masters in architecture in America at a time when Louis Kahn was designing the extension at the Yale University. Getting influenced by Kahns designs and philosophy, the two architects have also ended up designing the worlds most exciting buildings. For example, Norman Fosters Hongkong and Shanghai Bank project demonstrates Louis Kahns influence on Norman Foster. Another architect inspired by Kahn is James Stirling. Stirling was known for his experimental approach, which meant that he was not committed to one particular style. Also, this approach meant that Stirling was ready to try out new ideas and that definitely reflected Louis Kahns quality of designing. Stirlings earlier projects for Oxbridge stressed more importance to the concept than to the artistic and utilitarian needs. Due to this experimental approach and rigid adherence to concept, Stirling was often criticized for not following architectural principles.

Lion King vs Hamlet Essay -- essays papers

Lion King vs Hamlet The movie, The Lion King, and the book, Hamlet, both have a similar story line. In both stories, the king is killed and revenge is sought by the king’s son. The murderers in the stories are the king’s brothers who want the power of the throne. After the death of the Kings, both of the villains successfully took over the kingdoms. While these villains ruled, the kingdoms slowly deteriorated. Neither of the sons liked the villains, but they did not know at first that they had anything to do with their father’s death. It took an outside force to convince them that they must vow revenge for their father’s death. Both sons had the wit to approach revenge strategically. They wanted the villains to know that they knew about how their fathers were murdered. The leading roles in each of the stories had a corresponding role in the other. The corresponding characters shared a number of similarities, but it was the ways in which they were different that determined their fate and that of the kingdom. In Hamlet, the prince is Hamlet. He is in deep grieving of his father’s death. He is angry because he believes that everyone has already forgotten how great of a king his father was. Hamlet does not know for sure who is responsible for his father’s death, but he suspects Claudius who is his uncle and the new king. Hamlet decides that if he can convince everyone that he is insane, then maybe he will be able to get someone to tell him more about his father’s murder. In The Lion King, Simba is the prince. Simba’s father, Mufasa, is killed after he falls from a cliff into a herd of hyenas. Simba falls into a deep depression after his uncle Scar twists things around and convinces Simba that he is the one responsible for th e Mufasa’s death. Simba can not deal with what has happened and he runs away from the kingdom. In Hamlet, The new king Claudius is able to gain respect from the kingdom. He even steals the love of Hamlet’s mother Gertrude. The old king’s councilor, Polonius, becomes Claudius’s councilor and his best friend. He helps Claudius keep an eye on Hamlet and tries to keep him from finding out anything about his father’s death. Polonius believes that if he helps Claudius that he can make life better for himself and for his daughter and son. But in the end, his actions get him slayed, drive his daughter to insanity, and eventually set... ...f her son. She starts to feel the poison and she warns Hamlet of it before she dies. It is too late though, the poisonous sword had cut Hamlet. In anger, Hamlet steals the poisoned sword and runs it into Laertes. He then charges Claudius and runs it into him. He also takes the wine and forces Claudius to drink from it. Both Claudius and Laertes die before Hamlet. Hamlet regains his throne for a few seconds, until the poison sets in and takes his life. The Lion King has a happy ending. Simba returns to his kingdom and he finds Scar. He tells Scar that he knows about his father’s death. Scar lies to Simba by telling him that the Hyenas were the ones who killed Mufasa. This upsets the Hyenas. They leave Scar to fight Simba by himself. Simba wins the fight and throws Scar off a cliff, into the herd of the Hyenas. The hyenas show no remorse for Scar and they trample over him, killing him. Once Simba takes back the throne, the whole kingdom becomes beautiful again and everyone i s happy. The two stories had similar plots and characters. But in the end, the small differences in how the characters acted separated the tragedy of Hamlet from the happy ending of Disney’s The Lion King. Lion King vs Hamlet Essay -- essays papers Lion King vs Hamlet The movie, The Lion King, and the book, Hamlet, both have a similar story line. In both stories, the king is killed and revenge is sought by the king’s son. The murderers in the stories are the king’s brothers who want the power of the throne. After the death of the Kings, both of the villains successfully took over the kingdoms. While these villains ruled, the kingdoms slowly deteriorated. Neither of the sons liked the villains, but they did not know at first that they had anything to do with their father’s death. It took an outside force to convince them that they must vow revenge for their father’s death. Both sons had the wit to approach revenge strategically. They wanted the villains to know that they knew about how their fathers were murdered. The leading roles in each of the stories had a corresponding role in the other. The corresponding characters shared a number of similarities, but it was the ways in which they were different that determined their fate and that of the kingdom. In Hamlet, the prince is Hamlet. He is in deep grieving of his father’s death. He is angry because he believes that everyone has already forgotten how great of a king his father was. Hamlet does not know for sure who is responsible for his father’s death, but he suspects Claudius who is his uncle and the new king. Hamlet decides that if he can convince everyone that he is insane, then maybe he will be able to get someone to tell him more about his father’s murder. In The Lion King, Simba is the prince. Simba’s father, Mufasa, is killed after he falls from a cliff into a herd of hyenas. Simba falls into a deep depression after his uncle Scar twists things around and convinces Simba that he is the one responsible for th e Mufasa’s death. Simba can not deal with what has happened and he runs away from the kingdom. In Hamlet, The new king Claudius is able to gain respect from the kingdom. He even steals the love of Hamlet’s mother Gertrude. The old king’s councilor, Polonius, becomes Claudius’s councilor and his best friend. He helps Claudius keep an eye on Hamlet and tries to keep him from finding out anything about his father’s death. Polonius believes that if he helps Claudius that he can make life better for himself and for his daughter and son. But in the end, his actions get him slayed, drive his daughter to insanity, and eventually set... ...f her son. She starts to feel the poison and she warns Hamlet of it before she dies. It is too late though, the poisonous sword had cut Hamlet. In anger, Hamlet steals the poisoned sword and runs it into Laertes. He then charges Claudius and runs it into him. He also takes the wine and forces Claudius to drink from it. Both Claudius and Laertes die before Hamlet. Hamlet regains his throne for a few seconds, until the poison sets in and takes his life. The Lion King has a happy ending. Simba returns to his kingdom and he finds Scar. He tells Scar that he knows about his father’s death. Scar lies to Simba by telling him that the Hyenas were the ones who killed Mufasa. This upsets the Hyenas. They leave Scar to fight Simba by himself. Simba wins the fight and throws Scar off a cliff, into the herd of the Hyenas. The hyenas show no remorse for Scar and they trample over him, killing him. Once Simba takes back the throne, the whole kingdom becomes beautiful again and everyone i s happy. The two stories had similar plots and characters. But in the end, the small differences in how the characters acted separated the tragedy of Hamlet from the happy ending of Disney’s The Lion King.

Give Science A Chance Essay -- Stem Cell Research

It’s no secret that stem cell research is a highly controversial topic that could potentially lead to big steps in the advancement of modern medicine. There are many factors that need to be considered when making an argument for or against stem cell research. Not just the physical, tangible factors (types of stem cells, possible uses and benefits, and funding) but the emotional ones (ethics and morals) as well. While understanding the reasons opposing stem cell research is simple, understanding the reasons supporting it may be even simpler. Stem cell research should continue because stem cell research has the potential to advance modern medicine and better our world. Technically, there is no defined function for stem cells within the human body and, in theory, can form into almost any kind of cell within the body. There are two types of stem cells in the body known as either adult or embryonic. Adult stem cells are defined as multipotent, which are cells limited on the many types of cells it could become. Embryonic stem cells are pluripotent, which are cells that can be developed into any type of cell. Stem cells can be collected from various areas in the body. Bone marrow, umbilical cord blood, placenta, brain, liver, and skin fibers are all examples of where adult stem cells are found. Obtaining these quality stem cells is thought to be the key to potentially finding cures for many dreaded diseases such as Parkinson’s, Alzheimer’s, cancer, and even paralysis. It is the powerful possibilities of stem cell research that make it such a valuable asset to the advancement of modern medicine. Possibly the most highly debated issues of stem cell research is the use of embryonic stem cells and whether their use is et... ... Ideas. By Laurie G. Kirszner and Stephen R. Mandell. Boston: Prentice Hall, 2011. 632-39. Print. 2. Gyatso, Tenzin. "Our Faith In Science." The Blair Reader: Exploring Issues and Ideas. By Laurie G. Kirszner and Stephen R. Mandell. Boston: Prentice Hall, 2011. 527-29. Print. 3. Winslow, Ron, and Gautam Naik. "Obama Overturns Bush Policy on Stem Cell Research Funding." Online.wsj.com. Dow Jones & Company, Inc., 10 Mar. 2009. Web. 19 May 2012. . 4. "Stem Cell Basics - Types of Stem Cells." Stem Cells at the National Academies. 2009. Web. 22 May 2012. . 5. New York Times. "Stem Cells." Stem Cells. New York Times, 11 May 2011. Web. 22 May 2012. .

Against Animal Experimentation Essay -- social issues

Against Animal Experimentation Imagine having a headache and not having aspirin to take, or being diabetic and not being able to take certain types of insulin (Williams 3). It seems impossible that these drugs could be unavailable to humans, but they would not be attainable had scientists not tested these drugs on non-animal subjects. Contrary to what many people believe, testing drugs on animals often give defective results. â€Å"More than 205,000 new drugs are marketed worldwide every year, most undergo the most archaic and unreliable testing methods still in use: animal studies† (PETA 1). Although animals may seem the like ideal specimens for testing new drugs, the experiments are untrustworthy and can cause unknown side effects. Research on animals is deemed necessary to develop vaccines, treatments, and cures for diseases and to ensure that new products are safe for humans to use. â€Å"The development of immunization against such diseases as polio, diphtheria, mumps, measles, rubella, pertussis, and hepatitis all involved research on animals [†¦]† (AMPEF 1). Scientists have found many drugs by means of animal experimentation. To some people, animals are viewed as better test subjects than anything else. Scientists can control many aspects in an animal’s life such as their diet, the temperature, lighting, environment, and more. Animals are biologically similar, but not identical to humans and can form some of the same health problems. When these health problems are injected into an animal it can have the same physical reactions as a human could. Brettner -2- Experimenting on animals, to some, is important if humans want to continue with improving our medical advances (AMPEF 1). Although animals have helped form useful medicines for humans like anesthesia, they have also helped put dangerous drugs on the market (AMPEF 1). Practolol, a drug for heart disorders that passed animal test was pulled off the shelves when the drug caused blindness in people. Also, arsenic, which is toxic and causes cancer in humans, has not caused cancer in any animals that were tested (PETA 1). â€Å"According to the General Accounting Office, more than half of the prescription drugs approved by the Food and Drug Administration (FDA) between 1976 and 1985 caused serious side effects that later caused the drugs to be either relabeled or removed from the market. Drugs app... ... are many other ways to get the same results as humans receive from animal experiments. These methods are viewed as more moral, practical, effective, and less expensive, why wouldn’t we use these methods? By using these methods, scientists were able to invent aspirin and certain types of insulin (Williams 3). Although animals may seem like the ideal specimen for experimenting with, these experiments are untrustworthy and can cause unknown side effects. Works Cited AMPEF. â€Å"Point Counterpoint†. Americans For Medical Progress Education Foundation. 1998. 4 May 2002. Best, Lonnie Lee. â€Å"Are Humans Animals?† The Hardcore Truth. 1998. 1 May 2002. British Anti-Vivisection Association. â€Å"Animal Experimentation: No Lie Can Live Forever†. 2 May 2002. Cohen, Et. Al. â€Å"A Critical Look at Animal Experimentation†. 1998. 3 May 2002. People For the Ethical Treatment of Animals. â€Å"Animal Experimentation†. PETA. 2001. 4 May 2002. Thacher, Wendy. â€Å"Chimpanzees: Test Results That Don’t Apply To Humans†. PCRM Animal Experimentation Issues. September 2, 1999. 5 May 2002. Williams, Joy. â€Å"Do Creatures Have The Same Rights That We Do?† Harper’s Magazine. 1997. 6 May 2002.

Hearts Essay

This case is about a company named Hearts ‘R Us. This company provides research and development for medical devices. According to the information provided the company is in its early stage and has no products in the market. They have developed a Heart Valve System that would be revolutionary in the market if is approved. Also there’s another company called Bionic Body that is a biological medical device company, they have another product that would work well with this new Heart Valve System. Therefore both companies decided to fuse by agreement. The agreement is as follows: $3.5 million preferred stock shares of Series A from Heart Company are sold to Bionics with a par value of $1 each. This transaction was completed on November 30, 2011, according to the information provided. This transaction gave Bionic specific rights: 1. Board Rights, 2. Mandatory Conversion right, 3. Contingent Redemption Rights. Additional Protective Rights, 5. Right of first refusal and Co-Sale Rights. The $3.5 millions of shares would be convertible in common stock according to the agreement when the IPO reaches net proceeds of at least $50 millions. It is stated that if on year five of the agreement the FDA has not yet approve the product to be in the market; the shares could be redeemed at its par value. Hearts R Us is a company that reports on a year basis and it’s planning to make an IPO soon. There are a couple of issues surrounding this case. First is an early-stage company that doesn’t have the financial stability and this might create trouble for further transactions. The only product that might be coming to the market still depends on a series of trials and the approval of the FDA. Since the company is just starting; all of its accounting transactions have being recorded to comply with the covenants of its outstanding debt. Furthermore they are not required to comply with SEC and are currently not doing so. Also theirs an issue of how to be done to register the Series A shares that have being sold to Bionic. Preferred Stock: A security that has preferential rights compared to common stock. †¢Participation Rights: contractual rights of security holders to receive dividends or returns from the security issuer’s profits, cash flows, or returns on investment. FASB has some guide lines of how companies should report or disclose information of their securities. 1.FASB: addresses disclosure of information about capital arrangement is in the FASB Codification 505-10-50-3. 2.Participation Right is contractual right of security holders to receive dividends or returns from security issuer’s profits, cash flows or returns on investments. †¢FASB Codification 505. An entity shall explain, in summary form within its financial statements, the pertinent rights and privileges of the various securities outstanding. Examples of information that shall be disclosed are dividend and liquidation preferences, participation right, call prices and dates, conversion or exercise prices or rates and pertinent dates, sinking-fund requirements, unusual voting rights, and significant terms of contracts to issue additional shares. An entity shall disclose within its financial statements the number of shares issued upon conversion, exercise, or satisfaction of required conditions during at least the most recent annual fiscal period and any subsequent interim period presented.

The Development Procedure Of Learning Circumstances Education Essay

Dave A. Kolb was an American educational theoretician who was working on experimental science, on calling cultivation and on executive and professional instruction. Analyzing acquisition processs, he created four phases which constitute the Kolb s accomplishment Cycle. ( Helen G. Thalassis. ( 2008 ) . Learning Styles. functional hypertext ship communications protocol //www.academia.edu/344872/Learning_Styles1. Accessed twenty-eighth December 2012 ) . The scratch line phase is called concrete experience. The savant prefers to take on by dint of experiences sooner than theories and vehemence the whimsy more than thought. The second phase is incubation observation and it s rough saying back at what he has do and stress contemplation more than action. The pursuance phase is called abstract conceptualisation. Use of logic, thoughts and stress believing more than feeling. The 4th and the croak one phase is active experiment which is when the prentice prefers the practic al application instead than brooding apprehension. ( Clara Davies. ( 2013 ) . Kolb Learning Cycle tutorial Inactive Version. Available hypertext transfer protocol //www.ldu.leeds.ac.uk/ldu/sddu_multimedia/kolb/static_version.php Accessed 0 tertiary January 2013 )Kolb separated larning bearing to four classs harmonizing to the bookman s abilities. The learning trend is non stable. A learner is able to follow a different musical mode when it is appropriate in order to confront the acquisition challenge. ( Bradford VTS. ( 2012 ) . Kolb s Learning theory, Optional Material of greater Expectations, Smart Business Coaching Course, seance 4. Available hypertext transfer protocol //www.bradfordvts.co.uk/wp-content/onlineresources/0307teachinglearning/educationaltheory/kolbs % 20cycle.pdf. Accessed twenty-seventh December 2012 ) . The first sort of scholar is called converger. Harmonizing to Kolb a converger, is able to run by means of illation experience and keep solutions. It i s ab appear believing ( Abstract conceptualization ) and reservation ( Active Experimentation ) . As 2nd sort of scholar Kolb gives the diverger scholar. A diverger scholar is quick-witted, able to see state of affairss from galore(postnominal) angles and likes root word work. It is to the spicyest degree experiencing ( Concrete obtain got ) and watching ( Reflective Observation ) . The 3rd learning manner is prentice. An learner is serious to make suppositious theoretical accounts. He/she likes meticulosity and truth and prefers theories to be logical. This manner is to the highest degree believing ( Abstract Conceptualization ) and watching ( Reflective Observation ) . ( Helen G. Thalassis. ( 2008 ) . Learning Styles. Available hypertext transfer protocol //www.academia.edu/344872/Learning_Styles1. Accessed 28th December 2012 ) . As concluding manner we have the obliger. Ready to want chances and subscribe to involved in new experiences. unremarkably an obliger is hazardous and Acts of the Apostless like leader. It work with feeling ( Concrete Experience ) and qualification ( Active Experimentation ) . ( Users On Net. ( 1998 ) . Kolb s Four Dominant Learning Skills. Available hypertext transfer protocol //www. expendrs.on.net/brogers/stafftd/style2.htm Accessed 04th January 2013 )Trying to break up myself I observe that as a individual I like the theoretical modeling in any panorama of my life. I prefer to absorb observations into an organise result. I love to cognize what the experts signify and when I think that the reply is mistaken I try to happen out the solution by using nice developed theories. Planing and order argon two critical things of my character. I like to temper control on anything and I do it this by be latering. Planning is demand as it is the manner that I use to delegate precedencys. The same applies in larning. When I have to cover with any projection, I set up my mark, I excogitation how I can accompl ish it and I set aims by delegating the precedence of each of them. I so seek to happen out the theoretical desktop of the aims that I set and through structured attack I try to succeed to a decision.Taking the aforesaid into chronicle and using the Kolb s theory to myself I consider that I am an learner. Runing through my sometime(prenominal) acquisition experiences I cogitate that at my last twelvemonth in high-school my schoolmates and I were assigned a group undertaking about the planetary heating. magical spell the others were non paying the necessary attending to the undertakings that we had to finish, I immediately settled my end and mulish the respective(a) aims that I had to run into, I established a timeline for the completion of the assorted phases of my research and I tried to happen the theoretical background on the subject. I spent by and large besides often clip in researching about theories relevant to the planetary warning and I had troubles in using thes e to my undertaking mostly in the manner of existent operation against to the settled timeline. In another example of my past acquisition experiences I pose in my head an person undertaking that I was assigned to at my high school two old ages ago, about the educational development in my country. at once I was assigned with the undertaking I prepared a timeline for the completion of it and I settled my mark. Then I set the aims that I had to run into against this timeline and I started instantly my research in the field of the theories that are relevant with my undertaking. What I can commit now is that I was lost in the theoretical research, passing excessively much clip in this activity, something that created job in implementing what I had be after to make. Basis on the above I realise that I have a deficiency in the field of the existent executing of my planned marks.I could better this by pursuance to heighten my execution accomplishments and on that manner the active experimentation is the manner to blend in frontward.In this paper I have proved that I am an learner by uncovering the creases of my character and my past acquisition experiences that support this. However I have identified the weak rase of mine in the field of do s every splintering good. I have now to be after the manner to cover this weak flow in my attempt to better myself non alone as a pupil and scholar but as a social member and individual every bit good.