Assembler, compiler and interpreter

Assembler, compiling course of study and interpreterAssembler1. An assembler is not equivalent to an interpreter, or compiler, convocation vocabulary is a low take language.2. An assembler is one hammer of program translation. This is one consanguinity between assembler, compiler and interpreter. Each fabrication language statement directly corresponds to one apparatus instruction.3. The Assembler changes host instructions into machine language, whereas a Compiler runs a higher level programing language instructions into Assembly instructions and then those atomic number 18 converted into executable machine language.4. Accumulated scheduling languages normally father lots of posts of Assembly instructions for each program report.5. An assembler creates object lens calculate by changing symbols or substitute names into machine enroll.One could conclude that Assembly language is not a programming language at all, just guilty by association. Assembly language is zip more than a shorthand system of writing, machine language, programs development symbols that outcast personality lacking, knuckle dragging WOW players, otherwise known as programmers, can understand.Compiler1. A compiler converts an entire program pen in source code and metamorphoses it into object code.2. A second relationship is that the compiler and interpreter both process source code.3. A compiler translates source code from a high-level programming language to lying language/ machine code. A compiler works with what is called higher-levellanguages3rd generation languages, oftentimes(prenominal) as Java and C. Typically a person writes source code using an editor in a language such as C, Pascal or C++. The programmer then selects the appropriate compiler for the source code.Interpreter1. Another relationship is that the interpreter is the step by step version of a compiler. Obviously this takes a lot of condemnation and resources comp ard to previously compiled program.2 . An interpreter doesnt have to examine the entire program in the first place it can begin executing code.3. An interpreter is a computer program that takes source code and processes one line at a time. Interpreters translate code one line at time, executing each line as it is translated, Interpreters do generate binary code, but that code is neer compiled into one program. Instead, the binary code is interpreted either time the program executes.Nonprocedural Language or Declarative language1. Non procedural languages say what conditions the tell should match but not how to satisfy them.2. With nonprocedural language you are stuck with whatever options the program allows3. A Nonprocedural language example is Excels style of programming. Considered a quaternary generation language also called declarative language. incorporated Software1. incorporated software is for the most part fitting for applications that have many self-governing functions that do not correlate to a great extent.2. This technique is not very fitting where information is going to change as inappropriate to the function3. Structured programming is primarily a way of recess a problem into routines. It gives emphasis to functionality without stressing the data. The most likely application is for problems where noteworthy functionality is probably going to change rather than the data. At the point at which you have recognized the object boundary and you start writing the code to support them within the sections it is common to change to a structured design. Structured software may fail on projects with 100,000 lines of source code or more.Object-Oriented Software1. Object-oriented software makes it easier to develop, debug, reuse, and maintain software than is contingent with other programming languages.2. Object orientation takes the concepts of structured programming and puts it in 4-wheel drive. Object oriented software is equivalent to combining the usability of the fork and the food moving abilities of the remove and comes up with a Spork.3. object-oriented software is a computer program using object-oriented programming that revolves around the concept of an object. Object-oriented languages make it easier to reuse, and maintain software than is possible with other languages. Now, instead of data structures and separate program structures, both data and program elements are combined into one structure called an object.The object data essentials are called attributes, while the object program essentials are called methods. Together, attributes and methods are called the objects members. Usually, an objects methods are the only programs able to operate on the objects attributes. The easiest way to understand this is an analogy. stool you are building a raise. With earlier generation programming, each and every component was written and designed for an exact function or result. This would be the same as fashioning kitchen cabinets out of the lumber at the house piece by piece. Every house you built would require making cabinets at the location, out of the lumber that was supplied for the house.The sanity saving technique of object-oriented programming follows the logic of making a kitchen cabinet as a module. In programming terms, these cabinet modules are objects. This type of programming makes the effort much more efficient by allowing instructions from one program to be integrated into another(prenominal). If for example a circle needs drawn on the screen you can use a circle object from another program. If the circle needs to be modified then a bitty amount of programming may be needed, but you no lasting have to build it from scratch.

Influence of Terror on Pakistan Stock Market Returns

Influence of Terror on Pakistan be wee Market Returns accostThis paper examines the solve of semi policy-making imbalance and curse on Pakistan occupation mart leaves between 1997 and 2010. The subject constructs three shiftings that quantify policy-making instability and curse and examine the topic on country gestate break. This read seeks to apply the Generalized Autoregressive qualified Heteroskedasticity (G pixilated) copy to assess the feignion of these variables on tune foodstuff returns and capriciousness using effortless end serial publication data for KSE. Results for KSE limned strong support for the venture that bad news programworthinessworthiness exerts more than adverse effect on profligate commercialiseplace capriciousness than computable news of the same magnitude. Furthermore, terror and regime occupy signifi stoolt invalidating impact while war has positive scarce insignifi tusht effect on transmit market unpredictability.JEL Classification O40, C32.Keywords Terror, Regime, semipolitical instability, growth, ARCH/GARCH. universeMany people agree that post prices sometimes be squander in bizarre ways. Markets be pretty tough and quite an difficult. In the cosmos of todays no one can negate the importance of stock markets. origin market acts as a barometer for any countrys prudence. In todays shoot-oriented world, news travels rattling fast and contagion can spread quickly and capital markets produce more flexible and argon absorb shocks brought on different news such as terrorism, political instability etc. Stock market of Pakistan is going through quite rough patch from many years. The commute of political goernment and later on the terrorists attacks have badly unnatural the stock market and make the Pakistan Stock Market unreliable specify for investment funds. As by seeing the over both scenario of Pakistans stock market during that time period it was not difficult for prices to follow c ertain patterns that support the rejection of ergodic Walk Hypothesis.This paper examines the impact of change in political science, war and terror on stinting growth in the Pakistan. Pakistan is one of those episodic-democratic countries who atomic number 18 go close to continuous upheavals and socio-political disruptions since their inception. Military interventions could be witnessed in the political history of Pakistan. more over intervallic wars with India, strikes, anti government activity demonstrations and most importantly the ongoing war on terror have popped Pakistan to prominence on the socio-political platform. Such sociopolitical flux, terrorist attacks and other disruptions can have serious implications for stock price action because stock prices reflect investors expectations ab break the future and these stock price movements on aggregate can nonplus a surged wave of activity.There has been an extensive work on instruct of stock market returns and excitabilit y with respect to the fundamental variables and the macro economic variables scarce a diminutive work has been done so far to study the impact of socio-political factors on the stock market volatility in Pakistan. The animate literature on impact of socio-political factors on stock returns volatility is quite inadequate especially if we talk in context of Pakistani market. Masood Sergi (2008) canvas Pakistans political attempts and events that have discovered the Pakistani stock market since its independence notwithstanding their study chiefly covers the political events. Terrorism and strikes which have of late become the matters of intense interest and the source of turmoil in the economy are the missing section there.The Karachi stock market is rapidly converting into a volatile market. If we see figure below it showed that there are towering volatility during 1997 to 2010. This cannot be viewed as a positive sign for this rising markets like Stock market of Pakista n. Though heavy fluctuations in stock prices are not an unusual phenomena and it has been observed at almost all big and exquisite exchanges of the world. But focusing on the reasons for such fluctuations is didactic and likely to have important policy implications. The efficient market hypothesis argued that changes in stock prices are mainly dependent on the reaching of data regarding the expected returns from the stock and insecurity associated with that stock.(See Figure 1.1)So the end of our study is to examine empirically the impact of socio-political instability on Pakistani stock market.This study examines the three factors and their impact on the Pakistani stock market the political instability due to military interventions, 1999 Kargil war, and terrorism.Literature redirect examinationA number of theoretical and empirical articles argue that these factors hinder economic growth of a country. Cutler, Poterba and Summers (1989) claimed that the sock prices move in re sponse to the information other than about the fundamental values. They estimate the fraction of stock returns that can be accredited to various kinds of economic and non-economic events including assassinations of important political or national figures, war, invasions, raids and major policy change but their findings suggests a very(prenominal)(prenominal) small effect of non-economic news on the share price.Most of the studies have ground a significant impact of political news or events on the stock market behavior. Chan Wei (1996) canvass the impact of political news on the stock market volatility in Hong Kong and using GARCH-M sham they found the strong evidence of the impact of political news on stock market volatility inferring that unfavorable political news is correlative to negative returns for the Hang Seng Index and vice versa. Mei Guo (1999) examined the impact of political insecurity on the fiscal crises in emerging markets and they observe that market volatili ty increased during political election and transition periods and political scruple could be a major contributory factor to financial crisis. in like manner Kim Mei (2001) infered through empirical analysis using GARCH(1,1) filter that the political risk affect the stock market volatility but this impact of political events or news is asymmetric, with bad news having a great influence on volatility relative to good news. save Voth (2001) have argued that the impact of political factors in studies on German market has been over stated. He argued that the majority of events escalating political uncertainty had a minute or no effect on the value of German assets and the volatility of their returns. Instead, it was splashiness that is mainly responsible for most of the variability in stock returns. He suggests that there is no direct linkage between the political factors and the stock market, however through channel it impacts. But Voth (2002) in a plug-in study of a set of 10 cou ntries using panel retroversion confess that during great depression political risks changed dramatically over the period, and are adequate to account for a large part of the boost in stock price volatility.Beaulieu, Cosset Essaddam (2002) examined the impact of political risk in Canada on the volatility of stock returns, covering important political events in the country. Their study suggested that political news performs a significant role in the volatility of stock returns. Moreover the volatility of stock returns in addition depends on the degree of how much a firm is exposed to political risk i.e. the structure of its assets and the level to which there is hostile involvement. Kutan Perez (2002) similarly found a significant impact of social and political factors on stock return volatility in their study conducted on Colombian stock market.Bautista (2003) utilise Regime-switching-ARCH regression on Philippine stock returns to estimate its teachal chance variable and the estimated volatility was then related to major political and economic events. Their study revealed that the Philippine stock market is sensitive to radical changes in the political situation. Moreover the series of military takeover attempts during late 1980s in Philippines lead to hefty fluctuations in stock market index.Masood Sergi (2008) analyzed political risks and events that have affected the Pakistans stock markets since its foundation. They have found that Pakistans political risk carries a significant risk premium of between 7.5% and 12%. They make forecasts using Bayesian hierarchical frameworking and Markov Chain Monte Carlo (MCMC) techniques and found that there is relatively high probability of occurrence of events with an average arrival rate of approximately 1.5 events per year.Many others also wrote that political instability falsify the future path of investment decisions (Calvo and Drazen (1997), lessened public investment leading to a shift of government budg ets from capital spending to government expending (Darby, Li and Muscatelli (1998), and makes governments less inclined to make improvements to the legal system (Svensson (1993)Wars and unrest at the borders creates instability and panic among the investors that could affect the stock market movement at large. The affect of war has been analyzed in many studies including Cutler, Poterba and Summers (1989), Aggarwal, Incaln loyal (1999) and in Pakistan Masood Sergi (2008).Aggarwal, Incaln Leal (1999) examined the sort of events that cause large swings in volatility of emerging stock markets. For this purpose they examine various social, political and economic events both at global and domestic level to find out their explanatory power in context of the returns volatility in the emerging markets including the impact of gulf war. Though at small scale but the impact of gulf war was felt in those emerging markets. too Masood Sergi (2008) found that among other factors that they analyse, wars with India, 1948, 1965, 1971 and 1999 kargil war negatively influenced the Pakistani stock market.Evia et al. (2008) examined the affect of socio-political conflict in Bolivia on economic performance. Factors studied widespread during the conflicts as strikes, demonstrations, road blockades, and conventional rent-seeking. Their results showed that economic growth due to external factors is positively related to conflict while growth due to productive investment is negatively related to conflict.Terrorism is another as put that has been studied in relation to economic activity. Many studied in this outdistance produced conflicting results as Becker and Murphy (2001) argue that economic performance are not much affected, because terrorist attacks usually devastate only a small portion of the overall stock of capital in a country. By contrast, Abadie and Gardeazabal (2005) repeated that terrorism shape overall economic risk in a country and lead to the economic shakiness in the country. They also conclude their study that higher level of terrorism risks results into the lower levels of foreign direct investment (FDI). Almost all studies on terrorism and its influence on stock prices limited to only on a item-by-item or few events, such as the 11 September 2001 attacks, as considered by Hon et al. (2004) Chen and Siems (2003) study.Chen Siems (2003), used event study methodology to capture the af borderath of terrorism on global capital markets. They studied on the reaction of U.S. capital markets in response to terrorist attacks. Their results showed that capital markets of US are more resilient flexible than in the past and come up quicker from terrorist attacks than other global capital markets. Their study suggests this increased market resilience to be partially explained by a stable financial sector in US that provides adequate liquidity to support market stability and reduce the spread panic.Methodology and data DescriptionStock index data is taken from Karachi Stock Exchange, Yahoo Finance. This is a tumesce known and reliable source of business information in Pakistan. The daily closing value of KSE-100 index is used for calculating the daily returns. The forever compounded annual rate of return is used to measure the returns for the ad hoc period asRt = ln (Pt / Pt-1)The closing prices of KSE-100 index for Karachi Stock Exchange are taken for the period July 2, 1997 to Oct 13, 2010. Our proxies are TERROR, a dummy variable of terrorist incidents during this period REGIME, a dummy variable for government changes from fully democratic government to Marshal Law or democratic under such condition a dummy variable for the period of the Kargal War in 1999. We use regression mould and Arch/Garch technique to capture the results.ARCH/GARCH mull ModelsThis section presents the methodology of the paper. Daily data for Karachi stock markets were obtained from Yahoo finance and data for terror, kargal war and regime were obtained from South East Asia Terrorism Portal, and variant News Paper of Pakistan. Study apply ARCH/GARCH tools to see the ache term relationship of these variable taking stock return as dependent variable and terror, regime and kargal war as indie variables.As aggregate uncertainty may be a be given of political instability, we proceed to model uncertainty directly. It is natural to look at the conditional variation of output. Thus, we examine GARCH summonses, in a more general example than in the previous section. The model estimated here is a GARCH (1,1) process. Engle (1982) argue that in high frequency data large and small disturbance errors take care in group therefore error term variances can be shown as a function of their followged values. He calls it Autoregressive conditional Heteroskedasticity (ARCH). As an investor or policy maker, we might be interested in investigating the returns and variance financial assets over observable period of time (conditional ) rather than massive run estimate of variance (unconditional). Engle (1982) shows that it is feasible to describe the conditional consider and conditional variance of a financial asset using information set of previous periodWhere is the return of financial asset in time t conditional on the information set at time t-1. E represents the expected value in statistics.Consider the plain modelWhereWhere the rate of is return and are the regression disceptations. A veritable(prenominal) ARCH model can be written as followsConditional Mean EquationError DecompositionORwhere v is the part of variance which is homoskedastic and is the conditional variance which is Heteroskedasticity. This conditional variance can be shown as ARCH Conditional variance Equation, i.e.where and are non negative.Engle (1982) has also derived a Lagrange Multiplier (LM) based principle to test the hypothesis of.Another useable variant of ARCH methodology, proposed by Bollerslev (1986) is the generalized AR CH or GARCH model. Bollerslev (1986) argues that conditional variance in financial series is not only the function of its lagged error term but also the function of its lagged conditional variances.Therefore, GARCH (1, 1) process would beSo GARCH model jockstraps to explain the conditional variance with the help of past squared error term and conditional variance lag value. Which also means that conditional variance at timet would be function of vast run variances and also variances conditional on past information set (short run) or observed shocks i.e. .Testing for ARCH/GARCH doBefore estimating Arch/Garch techniques, it is first important to check for possible front of Arch effect in order to know which model is requires the ARCH estimation sooner of OLS (Ordinary Least Squire). The presence of ARCH effects in a regression model does not invalidate OLS estimation. However it implies that there is more efficient nonlinear estimator than OLS.(See Table 1.1)Obs*R-Squared is 147. 26 and has a probability limit of 0.000. This clearly suggested that ARCH effect is present and presence of Heteroskedasticity suggested that ARCH/GARCH is appropriate model for this type of time series data. So we can apply ARCH/GARCH model on this data instead of ordinary least squire regression.Result of GARCH effectsThe results of GARCH are presented in Table 1.3. The first column presents the regression results when we include as independent variables dummy values of the regime, terror, and war. In most of the cases, the variables enter with the anticipated signs, but not all of them are consistently significant at the 0.05 level. We can see an evidence of significant negative impact of terror, regime that show due to bomb blast in Pakistan and change in government negatively impact the country stock return in long run while insignificant positive impact of war on the country stock return.The results can further explained that stock return volatility every day is explained by a pproximately 71% of the previous months return volatility for Karachi stock exchange. This is significant for KSE returns. The coefficient of return innovation are statistically significant for market implying that new information arrival into the markets has significant impact on predicting next days stock market volatility. Because, the constant term in the variance equation for KSE is significant.The results of GARCH (1,1) are presented in Table 1.3(Table 1.2)The model can be written asMean Equation= 0.001188+ 0.064048* R_KSE(-1) partitioning EquationGARCH = 4.01E-05 + 0.20721*ARCH+ 0.713458 GARCH(-1) 1.21E-05*Terror + 1.93E-05*War -1.48E-05*RegimeThe persistence parameter for KSE Durbin-Watson stat = 1.943, which is 1. This show a very explosive volatility in KSE returns. It also demonstrates the capability of past volatility to explain current volatility (Engle and Bollerslev, 1986) and because it is very high, the rate at which it diminishes is rather very slowly.For ACRH/GA RCH, conditional standard loss and conditional varience graph were as shown in figure 1.2 and 1.3The GARCH coefficient is both statistically significant and conforms to expectation. This implies that past variances exert significantly positive effect on stock return volatility in KSE. On the basis of these results, it is perspicuous that there is significant time varying volatility in Pakistan stock market returns during the sample periods.Conclusions and RecommendationsIn this paper, we have estimated a nonlinear GARCH model for daily stock returns volatility and terror, Kargal war and regime in Pakistan. Data for the estimation of GARCH (1,1) models was obtained from Yahoo finance and South Asia Terror Portal and news paper of Pakistan. The asymmetric effect of terror, war and regime on stock returns and volatility was investigated. Preliminary investigation into the nature of the data reveals that study had to exercise ARCH/GARCH techniques for data analysis.Firstly, results s how evidence of time varying volatility in stock market returns across the market and from the asymmetric model, results bode that bad news has larger impact on stock volatility than good news in the KSE. The result for KSE showed that terror and regime has electronegativity impact on returns of KSE while war has positively effect, it may be due to short term period of the war. All three variable are significantly have their impact on the returns.

The Leadership Of Youth In Nation Building Education Essay

The Leadership Of c eachowness In Nation Building instruction EssayINTRODUCTIONThe term democracy expression is usu al adepty utilize to refer to the defecateive process of engaging both citizens in construction sociable mavin, economical prosperity and political st competency in an comprehensive and democratic focussing.A comm unity is built come out of the closet of the gentlemans gentleman intellect. This convey that a land trick non be built without the recognition and the embodied runs of whole citizens, skilled and unskilled, boylike and overage. Young bulk be a pivotal segment of a aras getment. Their pieces, therefore, ar spiritedly needed. Young passel ar companionable actors of change and as the saying goes, The new-made individual be non only if the leaders of tomorrow, yet overly the partners of today. It is advantageously completen that the close vibrant section of e very(prenominal) society is the young person. Therefore, th e younker put one over the indebtedness of being at the fore-front of whatever subject bea exercise.Youth is that period when a man is full of energy, ambitions and zest for life. The power possessed by youth is a recognised force today. The power or the energy ignore be utilized for both constructive and destructive purposes. Whenever there is ferment in a country, political forces use youth for their further stingy interests 1.Youth Leadership skills atomic number 18 relevant to young rafts individualized development, as sound as their component part within a group. On a individualized level, youth experiences gain insight into themselves. This befriends them analyze their strengths and weaknesses and set personal and vocational goals. On a group level, youth develop the ability to work with an other(prenominal)s to create a shared vision and to draw on the talents, skills, and energy of others.The task of nation get toing is very challenging and can be divide d into phases. Everyone can pass on towards it harmonize to his or her capabilities. The young people should be made to understand a specific bedevil and its importance to the society. They should be given(p) a suitable direction so that they can work hard for its fulfilment. This go out arouse them satisfied by the squareisation that they have been assigned roles in the nation building. They would be vigilant to work sincerely for the welfare of the society and the country.Every citizen, including the youths, should always have it at the back of their mind that nation building is a collective effort of all citizens in constructing a desired country. No contri furtherion is withal small or too big. It must also be noted that nation building starts from the community level up to the home(a) level.LEADERSHIPS IN NATION DEVELOPMENT FORWARDING TO 1 MALAYSIA AND VISION 2020The young, according to Pearl S. Buck (a Nobel Laureate in literature) do not know enough to be prudent, an d therefore they attempt the impossible, and achieve it, generation later generation. Youth is that c get down which can be melded in either skeletal frame one wants. In our belief, this is the sole reason for both exploitation and utilisation of youth in the destruction and construction of any nation respectively. It is a fact that, the nations building is highly dependent on youth. Youth is that get off which needs no ignition. Youth is that powerful resource, which can either construct or destruct the whole nation. No doubts youth should step transport to force up on the responsibility in development the nation. The countrys lead should also embrace youths, as well as youth organisations, as they are the leaders of the early and would contribute to the nation-building efforts 2.Awareness among youth is to be raised about the development issues and their potential roles in the country. It is also all- all important(predicate)(a) to involve young people in the consultati ve process of excogitation policies that affect youth. If young people are inexperienced at work, they provide also be inexperienced about policies but there are some important lessons that we have contemplateed. For example, youths in their upper teens and 20s have been consulted, if not in decision-making, at least in informing them about legislation that would affect their lives. As much(prenominal), the government policies and constitutional provisions which safeguard the free allowing stay to be use.Prime Minister Datuk Seri Najib Tun Razak said that the 1Malaysia concepts ultimate objective is to achieve content unity among its people. He said In other words, 1Malaysia is a concept to foster unity in Malayans of all races based on several important determine which should start out the bore of every Malaysian 3. Malaysia is a formula which serves as a requirement to learn realisation of the countrys aspiration to achieve substantial nation perspective by 2020 if it is assimilated in the people and practised by society. If Bangsa Malaysia (the Malaysian race) describe in Vision 2020 is the ultimate objective of this journey, then 1Malaysia is the drop dead pointing the way towards that objective. As such, youth leaders is one of the very important elements to hold back that the concept would not deviate from what had been agree to by our forefathers. In fact, 1Malaysia value and respects the ethnic identities of every community in Malaysia and regards them as assets to be proud of. Youth in order to become his/her country developed, has to break not only their lives by protecting their country at the borders but also has to protect from internal threats, and make the society a rosy-cheeked place to live. It is possible only, if the youth realize to stay healthy by sacrificing selfishness, laziness, evilness etc., and by thinking dedicatedly for the growth of nation.Ignorance, fear, prejudice and apathy, if left unchecked, are ferti le ground for breeding hatred, extremism, fatalism and fanaticism, which are the root causes of the worlds ills. So, youths of today feast very noteworthy role to demonstrate strong leadership potential, personal drive, and a making love and energy for making a difference in our community and country. No obstacle is too high, too deep or too wide for us to overcome if all of us oddly the young generation who give be the leaders of tomorrow automatic to join hands, think and act together as 1World. By quoting an old Malay proverb that Together, people could conquer all peaks and traverse all valleys. One way to inculcate youth leadership, youth can come in in the youth leadership academy 4. The Youth Leadership academy is dedicated to nurture and to build capabilities of future young leaders. As a participant, we allow for have the probability to improve our leadership skills, and be shake by Malaysias most achievementful corporate leaders and young affairals. It is ac cepted that, youth is highly amendable, but one must show the sense to take up the challenge to guide the youth to a slouch path.The central purpose of advocating youth leadership is to support youth in fetching the initiative to engage in civic and community activities in order to build on their strengths and self-esteem and to work together as a team in building leadership skills. Youth leadership groups are connatural to other youth development groups in that they are structured to offer youth educational, interesting material and resources that address flowing youth issues. Youth leadership groups are run by the youth themselves, but facilitated by a staff person in your program. Because the groups are self-directed by youth, the facilitator should serve as a support and guide for youth development.The key for the 1Malaysia concept is to practise mutual respect and effrontery among the different races in Malaysia. However, mutual respect is not just allowance account 5. That is just the bare minimum. Mutual respect means we have embraced unity in diversity. And secondly, we must trust one another. But trust is not something gained overnight. But if done consciously over time, it go away eventually happen. at a time trust is developed, Malaysia volition be the sum total of all races. We ordain not be moving as separate communities but as one Malaysia and we depart be stronger. It forget be a refreshful Malaysia because well change our mindset because we trust and respect each other. We trust all will join us to bring Malaysia to great heights. That is why youth leadership programs come in handy whereby they enable the youths to learn from the best, and really develop themselves personally and employmentallyAccording to the national shopping centre on Secondary Education and Transition, youth leadership activities can help contributing to and being manifold in promoting the well being of the community, ontogenesis and using a positive at titude within leadership activities, developing strong, trus bothrthy relationships with responsible adults and peers, interacting and collaborating with individuals from diverse cultural and ethnic backgrounds, participating in a wide array of career exploration activities, maintaining a committedness to academic and life dogged discipline, maintaining and demonstrating a healthy lifestyle.In a nutshell, the shopping mall elements of unity are, firstly, the attitude of acceptance among the races and the people, secondly, principles of nationhood based on the Federal geological formation and the Rukun Negara (National Ideology), and, thirdly, social justice. As such, the government policies and constitutional provisions which safeguard the innocent will sustain to be implementedMalaysia has come a bulky way since its independence. It has survived the Japanese occupation, followed by colonization by the British Empire. afterward days of power struggle and much bloodshed, Mal aysia is now 52 days old and growing since it freed itself from the grip of foreign forces. However, independence was not the last objective of Malaysia. Inspired by the struggle of our forefathers, Malaysia craves for global recognition as a developed nation as well as a place on the world map. Who then is to lead Malaysia into achieving this particular vision? The answer is definitely not the online leaders as human is of finite life. It is worth mentioning a quote from our former premier, His Excellency YAB Tun Dato Seri Dr Mahathir Mohamad during one of the recent Malaysian Business Council meetings. He (Dr. Mahathir) mentioned that most of the hand council elements will not be present on the morning of January 1, 2020 instead, the great pouch of work that must be carried out to ensure Malaysia as a amply developed nation will obviously have to be done by the present generations youth. However, the current leaders should not throw off their role in guiding them (the you ths) as well as lay the secure foundations that the youths will build upon 6.The ultimate aim of Vision 2020 is to make Malaysia a fully developed country, hoping that Malaysians born today and in the social classs to come will be the last generation of citizens to live in a country that is called developing. What then you might ask is a fully developed country? Just as Dr. Mahathir put it, a developed country should not only be developed in the economic sense but also be fully developed on with all other dimensions videlicet politics, social, spiritual, psychology and culture 7. The aforementioned criteria canalise a evidential amount of truth in them. In wrong of politics, if the ruling government is corrupted and insensitive towards the community he or she serves, the country will not be able to progress. An unstable political organisation often results in chaos as it results in in the public eye(predicate) demonstrations whereby in some cases, violent clashes between cit izens and the nations defense body may occur. Violent situations like this creates an image of fear and insecurity and often these are the major factors that influences the decision of foreign investors on whether to invest, continue investing or to pull out. As mentioned sooner on, human life is finite, hence the current governing body will need second-stringer someday and this replacement will at last be succeeded by the current generation the youths.From the above paragraphs, it is noted of the significant role the youths of today will have to confront in the future. What about the current youths? How are they contributing towards the nations growth? Youth bodies or communities such as B.R.A.T.S., Rakan Muda, YouthSays, and the like are led by youths and for youths. Its activities comprise of culture, social, sports, and etcetera. So how is it this a contributing factor towards the countrys development? Recalling what Dr. Mahathir mentioned earlier on, the development of t he country should be developed along with other dimensions such as, social, spiritual, psychology and culture. Youth bodies such as the aforementioned promotes social hold closely activities via forums, sports, support groups, and so forth. Further much, Malaysian culture can be promoted too via its cultural activities in the form of dance, drama, music, and so on. As mentioned earlier on, these bodies are led by youths for youths and it is only through successful leadership that will permit all these activities to be executed successfully. In other words, the present youths too contribute towards the developing of our nation.To sum it all, youths whether it is present or future play a major role in contributing towards the success of Vision 2020 furtherto a greater extent the development of the country. Let it be present or future, it is the youths that will eventually succeed their predecessors to a greater extentover lead the country towards its goals and vision. The dexterity of youths is powerful as displayed in their current activities and they are inevitably waiver to be the nations upcoming successful leaders. This is why youths are the key in succeeding the countrys Vision 2020.EFFORT TO INCULCATE YOUTH LEADERSHIPS IN MALAYSIA schoolgirlish ENGINEERS AND PARTIES INVOLVEDEmpowering youths towards leaderships enables all of us to get involved in nation building besides promoting national unity and social integration as well as becoming the role models in the society. Efforts has been constrictn to furnish youths with the indispensable skills and qualities to ensure them of a relegate future and to meet the accelerated whole tone of economic development and the changes in the environment.The strategic thrusts for the development of youths will be as follows 8Empowering youths for the future through improved access to education and gentilityIncreasing participation of youths in youth organizationsInculcating the spirit of competitiveness among youthsstrengthen the legal mannequin of youth development programsPromoting national unity and social integration.To encourage youths to participate actively in nation-building, their accessibility to education and culture will be further enhanced while leadership and skills homework, entrepreneurial development and healthy lifestyles program can be carried out more than extensively. In addition, self-confidence and discipline are positive elements which should be combine in the character building program. Measures shall be undertaken to increase the accessibility of the youths into life-long learning program through distance education and non-formal education as an effort to ensure parallelismd development. With the healthy mental and physical attributes, excellence results in nation growth could be achieved.According to the Ninth Malaysian Plan, National Youth Research Institute will be established to undertake research in six areas, namely socialization of youths, culture an d religion, youth potentials and integrity, youth organizations, leadership and volunteerism, education as well as political awareness. Besides, national youth act Youth Societies and Youth Development 2007 has been introduced to ensure the youth programs are implemented in an integrated, coordinated and synergistic manner.In the human face of leadership training, effort has been put to build a spick-and-span breed of young leaders as prime movers of development. In this regard, the computer program of leadership training program could be strengthened to make it more proactive and relevant to future needs. It is estimated that about 100,000 youths, including NGO leaders, will be trained under this program 8.The government will continue to develop and instil leadership qualities among youths by conducting courses and training on good values and positive attitudes. Special courses on values will also be conducted to mould youths as responsible citizens and role models in society. Greater awareness on the important role of youths in forging and promoting unity towards building a united Malaysian nation has been given priority in the leadership training programsA feature youth leader should equip themselves with soft skills in order to outperform as a nation builder. As Malaysia is a multi racial country, interaction and communication among each other should be further enhanced in order to bring our nation to leap on a larger step of improvement with all of us working together on it. Hence, to check racial polarisation among youths, more multi racial youth organizations could be established to allow for greater interaction among them. In addition, good moral values such as understanding, harmony, respect for the culture and tradition of other races, goodwill and trust will also be inculcated among the youths to enhance nation building efforts. The private arena will also be encouraged to contribute to youth training as part of their social responsibility. M ore active participation of youths at the international level could be promoted through intergovernmental and non-governmental institutions.In effort of nation building involving wide range of people, the implementation of Rakan Muda political programs has been strengthened to focus on specific target groups, particularly youths who are out of the education system and the unemployed youths as they are more vulnerable and easily influenced to be involved in negative and unhealthy activities. In this regard, Rakan Muda Program will focus on efforts to create role models among youths who are caring, skilled and dynamic. In addition, these programs will also focus on enhancing cooperation amongst agencies involved in the social agenda 8.A program named, Program Memperkasakan Tenaga Muda, will be implemented specially for youths who are not selected for PLKN. Activities and modules under the PLKN will be carried out to ensure those who are not selected for the PLKN training to be expose d to similar program which helps a circularise in character building towards quality leaderships. To better prepare students for the PLKN, the Government will incorporate this program into the co-curricular and course of instruction in secondary schools. The participants of the PLKN will be encouraged to join Rakan Muda Program to continuously nurture the spirit of volunteerism and solidarity amongst them 8.The conglomerate skills and leadership training program aimed at empowering youths has been undertaken by the Ministry of Youth and Sports, Ministry of Entrepreneur and Cooperative Development and Ministry of clement Resources.Nevertheless, combating social problems among youths could help in nation building. The measures should be taken to nullify the youth from influences by negative and unhealthy activities, but on the other hand better self inner qualities in order to contribute to the country as well as leading the nation towards modernised development. During the Nin th Malaysian Plan period, the Government has continued to give strain on preventive and rehabilitative program to combat social problems among youths. circumferent cooperation between the local communities and government agencies in stemming crimes among youths will be established. In addition, training program for youths in the high-risk crime group will be carried out to nurture them to become responsible citizens.Apart from producing a productive and disciplined young generation, youth development program should continue to focus on skills training and entrepreneurial development to encourage self-employment among youths. They will be trained to be resilient and to withstand challenges in a competitive environment through on-the-job training and exposure to real work situations. This is to prepare ourselves towards real time challenge as we ultimately will come to work environment and contributes in different aspect or in different fields. Youth leadership program had given emp hasis on the role of youths in society and education national unity with a sense of common and shared tidy sum.ROLE OF unsalted ENGINEERS AND SUCCESSFUL EXAMPLESOne may gather in an engineer as a person with a university education in engineering who may take an idea and turn it into a useful thing for other people to use. An engineer may make a better mouse trap, or tell people how best to build a bridge or a skyscraper. Whatever things to they wish to do, an engineer is to make sure people are safe and the next is to improve life. They can become very good engineers who can handle tools and machineries. Die-hards and loyal engineers to these perceptions have been losing out in terms of managerial positions, wealth and leadership to those who are enterprising and see business as well as quality management as prime factors to improve life, build better bridges and skyscrapers.In this fast changing world, the expectations towards engineers have changed. Engineers have to leave the ir cocoon if they wish to be better engineers of today and see the reality of life which is getting more sophisticated and complex. They need skills to manage people, technology, money, physical facilities, time, money and other resources. In addition, they also need to communicate effectively with society and other non-engineering people from various professions. Prestigious universities in the USA have been pushing for changes in their engineering programs. One might wonder why and whats behind the sharp push by universities to produce people-smart engineers?Successful engineers must learn to be a leader not mere follower neither only as a faithful employees in an organization. These skills and knowledge shall be acquired from the humanities and social sciences disciplines. An engineer must no longer a person who is shy away from things and challenges to be confronted as they can be better engineers, scientists and wealthy entrepreneur with their provide proficient and interpe rsonal skills as well as passion in solving problems for improvements.Engineering is a profession that covers a wide variety of disciplines. The tasks and studies of the various fields of engineering are vastly different, though each requires problem solving through the use of mathematical and scientific principles. Such fields include civilized, electrical, aerospace, computer, chemical, environmental and windup(prenominal) engineering. No matter what will be the speciality, it requires a time-consuming, intense course of study and efforts beginning as far back as high school in order to become a well equipped engineer.Throughout the years, our government has increases its access to education and training especially on engineering field. We generate young professionals to enhance income generation capabilities, as well as life quality improvement of Malaysians. Nevertheless, the education and training system on engineering field has yet to be restructured, especially with greater private sector involvement in order to cater for the charter and needs of our local industries in their specified fields.Aspiring engineers should focus on developing different types of skills such as detail oriented, keen uninflected skill, good communicator, able to work on a team, able to build and improve the way things work, or creative thinker. It is not easy to become a successful engineer in this world without any long journey of hard work. In Malaysia, there are a lot of successful engineer born in this country.Associate Professor Dr. rectitude Chung Lim is a lecture from The University of Nottingham. Associate Professor Dr. Law Chung Lim of the School of chemic and Environmental Engineering at the Malaysia Campus was conferred the Young Engineer Award by the Institution of Engineers Malaysia (IEM). This award comes in recognition of Chung Lims involvement in various academic and research undertakings, as well as his societal and volunteer(prenominal) commitments and contributions 9.Chung Lim has served the Institution of Engineers (IEM) since Jan 2004 and is actively involved in its activities. He has organised technical talks and technical visits for the Chemical Engineering Technical Division and has describe six events in the bulletin Jurutera over the years. Further to this, Chung Lim was a member in the sub-committee of Career and Guidance of Admission Practical Training delegacy and IEM Computer Lab Project Committee in 2005. In addition, he served the 1st and 2nd Malaysian ChemECar Competition organising committee as a secretary, MC cum judge in 2004 and 2005. Besides, he also served as secretary cum treasurer and chemical risk and health assessor for the regional ChemECar competition which was held in KL in conjunction with the Asia Pacific confederation on Chemical Engineering Conference, APPChE. Chung Lim also contributes to the go offing of manuscripts submitted to the Jurnal IEM 9.Over the years, Chung Lim has worked extensive ly on various research areas which has give a lot of important publication in more aspects, ranging from research publication, equipment design, product development and many other researches. He innovatively modified a conventional fluidized bed dryer and proposed deuce modified fluidised bed dryers, viz. baffled fluidised bed dryer and two-stage continue flow fluidised bed dryer. The inventions won him a bronze and a atomic number 79 laurel wreath in 2003 and 2005 respectively. Chung Lim obtained two e-Science research grants from the Ministry of Science, Technology and Innovation (MOSTI) and involved in three MOSTI grants which amount to over RM1.25 million. He has published more than seventy five papers including journal articles, handbook chapters, book chapters and review articles and conference papers. He has produced five equipment designs, fabricated and commissioned three prototypes of unit operation, conducting three product development projects, supervising seven post graduates, received two award of excellence from the institution, and two awards of best paper 9.As a researcher who is actively involved in drying and dehydration, Chung Lim receives requests to review manuscripts submitted to various journals, namely Drying technology, Canadian Journal of Chemical Engineering, Chemical Engineering Science, Jurnal of IEM, Pertanika and Jurnal Teknologi. Over the years, he has reviewed more than fifty five manuscripts and technical papers. Chung Lim received a certificate, medal and a prize award of RM500.00. Speaking after receiving the award, Chung Lim said, I shall continue to strive hard to remain worthy of this award. I shall uphold professionalism, make more contribution to promote engineering as a profession and conduct more impactful researches to the enrichment of knowledge 9.CONCLUSIONNation building is a collective effort of all citizens. As an old saying goes the youth are not only the leaders of tomorrow but also the partners of today. The Youth, as the energetic ambitious and highly capable people, have the responsibility, passion and power of being at the fore-front in developing the nation in a democratic and constructive way.Undoubtedly, Youth leadership is a significant element to ensure the concept of One Malaysia would not deviate from what had been agreed to by our forefathers. Also, Youth play a very important role to demonstrate their potential, motivation and passions of making a different in our community. The young generation, as tomorrows leaders have to think together as one. The opportunity of improving our leadership skills is being given to us by taking part in civic and community activities. Youth leadership programmes will give emphasis on the role of youths in society and fostering national unity with a sense of common and shared destiny to develop the mutual trust and respect among different races in Malaysia at the young age and promote the well-being of the country. Moreover, Youth organisa tions are important and contribute to Malaysian nation-building and development because youth organisations have served as a training ground for many national leaders in Malaysian history. As empowerment emphasizes development of collective rather than individual goals, it will henceforth lead to capacity building and setting the agenda for changes for Malaysia.In an effort to attain developed nation status by the year 2020, the Malaysian government has made strategic thrusts for the development of youths by improving the access to education and training, inculcating the spirit of competitiveness among youths, strengthening the legal framework of youth development programs increasing participation of youths in youth organizations, and promoting national unity and social integration.Most importantly, the essay would not bring any benefits if we did not know the roles of young engineers in building this nation. With the profession of many disciplines, engineers should not only develop their personal technical skill but also be creative thinker, good communicator and think positively to award to group success.In fact, youth leaders, as the powerful pressure groups and guardians of transparency, will enable themselves to query government policies and performance for corrective action to be taken for the development of a Malaysian Malaysia. According to Abdul Rahman Embong, Malaysians (especially with the emergence of a middle class) would like to have greater democracy and a stronger civil society. This is essential for youth organisations and their leaders to champion these new challenges to check and balance in all major issues, government policies and implementation, because youth comprises a significant proportion of the Malaysian population.

Social Exchange Theory

brotherly Ex touch oning TheorySocial swap Theory is a stance of the field of accessible psychological acquirement and sociology to explain accessible change and stability, delivering them as a process of negotiated replaces in the midst of sight. Social win over surmisal earth-closet be described as the supposition, gibe to which, hu man beings inter doing is a unique transaction, which try ons to increase the rewards and to centralize the be.The neighborly mass meeting scheme advocates that only human races ar formed by using a approach- dumb embed headway depth psychology and comparison with alternatives.For poser, when a soul perceives the cost of a dealinghip over the advantages make, the person, according to this possibleness, leaves the transactionhip.This supposition has its roots in frugals, psychology and sociology. The cordial substitute speculation is linked to the rational choice scheme and structuralism, its major features.Exch ange theory arose as a reaction to functionalism, which cerebrate on the impingement of a phenomenon on the constitution.This is not a ace theory, full now rather the band theory, describing the kind world as a system of rules of rallyings of reliables (tangible and intangible) amid individuals and social groups.Social supplant theorists see all(prenominal) interaction as a transaction well-nighthing for any(prenominal)thing.It is exchangeable a theory of individual self-interest.If a person takes any action, it does so with the prospect of benefit for himself.Often it is the intangible benefit, such as respect from others, obedience, satisfaction, etc.Social turn theory is a theory in social science which states that t here(predicate) ar elements in social relations with go forth discipline, abandon, and benefits that affect from each whiz other. This theory explains how humans view their relationships with others in accordance with the assumption of human s elf is to the balance between what is given to the relationship and what is excluded from that relationship.There is no unified sociology of exchange, notwithstanding unitary coffin nail distinguish three main(prenominal)(prenominal) theoretical cr bears of theories. Taking the example of the mutual exchange of between the bride and groom, so this could be either a civil contract between 2 different-actors to the mutual exclusive pulmonary tuberculosis of their bodies, or a mutually donated sacrament, by which Christianitycontinues, or view as an institutional and thus pacification a driver or will form.Exchange of individuals.Sociological theorists think recollect the assumption that individuals invariably act when exchanged (individualistic, paired, antagonistic perspective).No consequence what they shell discover in a particular case, there argon ever sociological social sanctions.As positive sanctions, for example, congratulations or goods, just as negative there argon insults or threats.Often in the exchange theory only positive or ambivalent sanctions be treated, but include untold habitual approaches and negative sanctions. In the scattering of conflict the actors face each other with conflicting interests. The one avail is the other draw buns any one tried if it goes to positive sanctions, and spend as little as possible from the opponent to gain as ofttimes as possible.In sparingals, this dodging, which it called only for positive sanctions (such as goods for money in trades), is the minimax principle.And in any case, if people take aim antagonistic relations and negative social sanctions (for example acts of violence against violence, such as in war) interpreted into account, the exchange ends here trying to minimize its losses and maximize the opponent. Considering the criticism, critical is pointed out that this is establish on Homans and Blau, Exchange Theory as a variant or mutation of the doingsism. It had become a rational choice instance, and this methodological reducing was achieved at a price, as compared to immaculate and other approaches in sociology would be neglected by extra-economic motivations, norms and institutions and their history in general.Durkheim or Mauss pass judgment to expatriate in exchange for all social collectives (community, systemic view).Controlled by the exchange, the friendship to the group veritable the actors (mostly positive) from each other sanction.The players serving a customary interest in the welfare of the collective, which is the individuals self-interest.Each exchange includes the end and always a compromise in favor of the collective, stock-still as a loyal member of a community and even with regard to his testify advantage.The Collective is always with a person, which is glittered in logical rituals (for example the handshake) or norms (such as the Commercial Law) that express stability.Because of that, all exchange behavior is overly spoken of as amphibole exchange. The theorist Clausen considers one of some forms of exchange that, in addition to the nature of man involves him into it with acting. Here, the parties conduct an exchange so that the pick of the human species will be encouraged to nature and other species.So it is not only a sociological but as well as the anthropological institution.This refers in particular to re work, child care and fighting prowess.The most green example is the dyad between infant and caregiver time (usually, but not necessarily the mother), is wanted to provide that in the both the exchange is biologically supported and the happier they are, the better it is for others.Exchange theory by Homans. fit in to George Homans, the social behavior is an exchange of material goods, and it is also intangible, such as the symbols of approval and prestige. Homans, George tried to explain the behavior defined in the all-encompassingest find as a result of interaction in which indivi duals acquire, sell, or share resources. He tried to explain social behavior using key concepts of behavior, trained by behavioral psychologists, and neoclassical economists.Behavioral poser of operative conditioning is based on the utilitarian principle that individuals will seek to maximize enjoying and to avoid or minimize the pain.It is assumed that individuals will react as expected to reward and punishment.Any interaction brooks an opportunity to share resources, in which each party tries to stimulate resources, with a higher nourish in comparison with that which he or she gives or which refuses. All social formations were created on the basis of the net transaction exchanges.The organic law haves the unit to be fulfilled by other bodies belonging to this organization.Homans has developed phoebe bird general provisions relating to social behavior and resource sharing.Three of them re realize the model of behavioral psychologists. The first statement directly follo ws from the model of operant conditioning, and says In respect of any acts performed by people, the more(prenominal) a great deal a person is rewarded for a particular action, the more that person will perform this action.The blink of an eye situation is linked to recognition of the role of past experience In the past, the emergence of a particular stimulus or set of incentives has created a situation in which human action is rewarded, the more the present-day incentives are similar to those past stimuli, the more that person will perform the said(prenominal) or similar tohis action in the present.However, the third provision states that for their actions when a person does not receive the expected rewards or receive unprovided for(predicate) penalty, he goes berserk and arse behave scrappyly.He created a series of allegations, among them are the claim of success, the assertion of deprivation and that there is saturation of aggression. These statements are a part of seven and , according to crowning this list is the assertion of rationality, which says that the carcass of the two alternative measures will prefer the one which gives the most promising results to achieve greater benefits. The basic proposition is success the more action the individual is rewarded with, the more belike it is to take this action. the stimulus if the past particular of a item stimulus or combination of stimuli was a circumstance, in which individual action has been rewarded, the more likely it is that the unit would take this or a similar effect. value the more the action is for the individual securities, the more likely that it will be demonstrated this action.-saturation of deprivation the more ofttimes in the recent past, the unit received a particular prize, the slight valuable it becomes for each additional unit of the award. frustration-aggression If the unit does not take up action to obtain a reward or punishment received by the entity, which they did not exp ect, it will react with anger, and anger aggressive behavior results will have a reward value.Exchange Theory by Peter Blau. Peter Blau introduced the depth psychology of exchange, which processes the term marginal utility, which says that the more the expected rewards entity obtains from a particular act, the slight valuable this action is, and the less likely it will be.The idea is that if in a result of the exercise we get some action on the awards, you will have less value, which will be a untried round of the award.Another concept introduced by Blau is the concept of standards for fair exchange, which indicates what should be the ratio of rewards to cost in the exchange relationship.If these standards are shaken, so the injured party may disclose to aggressive behavior. Blau concept differs from the concept of Homans that provides conflict situations. Balance in one relationship, which is damage by homeostasis seen in some other.Blau has another concept, which is social a ttraction that is the perception of opportunities for reward.This is according to sociologist factor, substantial for the existence of the exchange ratio, which is based on the belief that people who give awards, in turn, you will receive the award as allowance for the goods delivered.There are four types (classes) the prize money, social acceptance, respect (deference) and entryway.Of these, the superior value is the submission, then the respect, acceptance, and the least allow for reward in the relations of social exchange is money.Submission is the most valuable prize because for Blau it is essential in the relationship of power, and this in turn gives a misfortune of denying rewards to those who do not want to comply with the standards.Power is born when the value of go exceeds the value of function received in return.If people have to choose only one or a few alternative sources of awards, then it also comes to forcing submission.This is further facilitated if people are not giving to the possibility to use the coercion and opposition to a person providing advantages.Inability to work around without data prizes also affects positively the opportunity to draw off the submission by the person in possession of these awards.Exchange in social psychology. Social psychology also speaks about human relations as relations of exchange. These systems are based on the so-called rule of reciprocity, downstairs which we are committed to the future for favors, gifts, invitations and the goods that we have received.According to social psychologists one of the important principles is governing the human investigation.This commitment to the re outfit probably exists in all human societies.Researchers say that this rule has developed in tell to encourage people to contact, based on mutual exchange of portions without fear of giving something to another, and we lose it forever.Another form of this rule is called reciprocal concessions, namely if someone goe s to hand us, we do it to him, too.Thus we stinker safely take the first step to someone, as he will be obliged to give us a similar sacrifice.This rule is valid according to social psychologists and it is an beardown(prenominal) regulator of social relations.The emergence of social exchange theory. In general, the social exchange theory consists of social relations rather than public. The societies have viewed the behavior influence of each other in the relationship there are also elements of discipline, of sacrifice and gain that reflect social exchange.The reward is all that do the sacrifice, when the sacrifice can be avoided, and the benefit is geldd by the rewards of sacrifice.So the social behavior of the exchange at least between two people is based on the cost-benefit calculations.For example, patterns of behavior in the workplace, romance, nuptials and friendship. Analogy from the case, at some point people can feel in any of their friends, who, usually, are always t rying to get something from you.At that time you always give what a friend pauperizations from you, but the opposite is actually happening when you pack something from your friends.Each individual course has a goal to be friends with each other.These individuals would be expected to do something for others, help each other if involve, and provide mutual support.However, maintaining social relations also requires the cost, such as the lost(p) time and energy and other activities.Although these costs are not seen as something that is expensive or burdensome when viewed from the point of reward obtained from these friendships.However, these costs should be considered if we are to objectively analyze the relationships that exist in a friendly transaction.If the cost seems not in accordance with the compensation, what happens is the uneasy feeling of a person who feels that the benefits received were too low compared to the cost or sacrifice that has been given.An analysis of the so cial relationships that egest according to the cost and reward is one characteristic of the exchange theory.This exchange theory has instructioned on micro- train analysis, oddly at the interpersonal level of social reality.In this discussion the focus will be on the notion of exchange theory by Homans and Blau.Homans in his analysis insisted on the necessity to use the principles of individual psychology to explain social behavior rather than merely describing it. But Blau, on the other hand, was trying to move from the level of interpersonal exchanges at the micro level to the macro level of social structure.He attempted to render how bigger are the social structures that emerged from the basic exchange processes.Unlike the analysis described by the theory of symbolic interaction, exchange theory was in general seen as the real behavior, not the processes that are purely subjective.This was also pick out by Homans and Blau, who were not focussed on the subjective level of s entience or reciprocal relationships between the levels of dynamic interaction of subjective.Homans further argued that scientific explanations should be foc apply on real behavior and then can be ob parcel outd and measured empirically. The process of social exchange has also been expressed by the classical sociologists.As expressed in the classical economic theory of the 18th and 19th century, the economists like Adam metalworker have analyzed the economic market as a result of a comprehensive collection from a number of individual economic transactions.He assumes that transactions will happen only if both parties can gain from these exchanges, and welfare of the community in general can be very well secured when the individuals are left to pursue personal interests through and through negotiated exchanges in private.Conflicts of individualistic and social exchange in collectivism. Conflict that occurs is a result of the growing contradiction between the individualistic orientatio n and collectivism.Homans is probably someone who was very stressed on an individualistic approach to the ripening of social theory.This is certainly different from the explanation that the Levi-Strauss, a collectivist, in issues especially regarding to marriage and kinship patterns. Levi-Strauss is an anthropologist who comes from France. He developed a theoretical perspective of social exchange on the practice of marriage and kinship system of primitive societies. A general pattern of analysis is when a man marries his mothers daughter.A pattern that happens is that people rarely marry the daughter of his fathers brother. This latter(prenominal) pattern was analyzed further by Bronislaw Malinowski, who advanced by the exchange of nonmaterial. In explaining this, Levi-Strauss distinguishes two exchange systems, which include restricted and generalized exchange.In restricted exchange, members of the dyad groups are directly involved in the exchange transaction, each member of the c ouple give each other a personal basis.And in the generalized exchange, members of a group of triads or even larger accept something other than a dyad who gives something useful. In these exchanges the match is on the integration and solidarity groups are ina more effective manner.The main purpose of this exchange process is not to allow couples who are involved in an exchange to meet the needs of individualization. An analysis of marriage and kinship behavior is a criticism of Sir James Frazers explanation of a British expert who studies the economic anthropology on patterns of exchange that occurs between colligation pairs in primitive baseball club.The theory of exchange today does not represent a single school of thought.Strictly speaking, there are several(prenominal) theories that share a common position that human interaction is a process of exchange.In addition, each of them has their own views on human nature, society and social science. Theories of exchange have been an d still are often criticized for the miss of freshness, the evidence of certain statements, ignoring the existence of a extractd situation.Most can be found with the view that this point of view narrows the social living and relations between people only to the physical assets. As a fact, social forms of exchange are perceived other than and communicated, as a sociological and anthropological analysis would be expected to.As the apparent movement of justice, including equivalence of an exchange is directed according to dominant values, or it is judged differently from the representatives of warring values.Social exchange theorySocial exchange theory principal(prenominal) open factor(s)Value and utility profit, rewards, approval, status, reputation, flexibility, and devoteMain case-by-case factor(s)Exchange relation, dependency, and powerSummary of theorySocial exchange theory was formed by the intersection of economics, psychology and sociology. The theory was developed to e xtrapolate the social behaviour of humans in economic infratakings, according to the theorys inciter Hormans (1958). There is a fundamental difference between the two the theories economic exchange and social exchange theories, which is the way in which the actors are seen. Exchange theory views actors (persons or a firm) as dealing not with another actor but with a market (Emerson, 1987, P.11), reacting to various market characteristics darn social exchange theory sees the exchange relationship between specific actors as actions contingent on rewarding reactions from others. (Blau, 1964, P.91)Nowadays, various forms of social exchange theory exist, but all of them possess the same driving force which essentially is the same central concept of actors ex changing resources via a social exchange relationship. Where social exchange (e.g., Ax By) is the intentional transfer of resources (x, y ) between several actors (A, B) (Cook, 1977). A network model (Cook, 1977) with market proper ties (Emerson, 1987) is the evolved form of the theory which previously was a dyadic model. The core of the theory is outflank captured in Homanss own words (1958, P.606)Social behaviour is an exchange of goods, material goods but also non-material ones, such as the symbols of approval or prestige. Persons that give much to others try to get much from them, and persons that get much from others are under pressure to give much to them. This process of influence tends to work out at equilibrium to a balance in the exchanges. For a person in an exchange, what he gives may be a cost to him, just as what he gets may be a reward, and his behaviour changes less as the difference of the two, profit, tends to a maximum.In conclusion, social exchange theory is trump out understood as a good example for explicating movement of resources, in progressive tense market conditions, between dyads or a network via a social process (Emerson, 1987).Agency Theory or Principal-Agent ProblemKey depend ent factor(s)Efficiency, alignment of interests, risk sharing, successful contractingKey independent factor(s) discipline asymmetry, contract, moral hazard, trustSummary of TheoryIn economics, the principal-agent dilemma treats the technical hitches that come up under conditions of unfinished and asymmetric info when a principal hires an agent. A variety of mechanisms could possibly be use in an attempt to align the interests of the agent with those of the principal, for instance piece rates/commissions, profit sharing, efficiency wages, the agent posting a bond, or fear of firing. The principal-agent task is seen in the majority of employer/employee relationships.Agency theory is focussed at the present agency relationship, which essentially is one party (the principal) entrusts work to another (the agent), who carries out that work. The resolution of the two problems in an agency relationship that can occur is the primary concern of agency theory. Firstly, is the agency probl em which surfaces when (a) the desires or goals of the principal and agent conflict and (b) its difficult or expensive for the principal to manifest what the agent is actually doing. The predicament here is the principal cant put up that the agent has behaved fittingly. Secondly, is the problem of risk sharing that arises when the principal and agent have dissimilar attitudes towards the risk. The problem at this point is that the principal and the agent may fancy different actions since they have different risk preferences.Relationship between theory and selective information SystemsAgency theory sees the firm as a nexus of contracts amongst interested individuals. The owner employs agents (employees) to execute work on his/her behalf and delegates some decision-making power to the agents. Agents moldinessiness be under constant supervision and focal point this stems the introduction of management costs. As firms grow consequently management costs rise. Information technology minimises agency costs by providing information without difficultness so that managers can oversee a larger number of people with fewer resources.Simply, technological changes support the agency theory, which enables managers to supervise more employees at a reduced cost. Technology in general, and information systems particularly, save companies carve up of money by reducing the number of managers needed to oversee larger numbers of workers. consummation Cost Theory or Transaction cost economicsMain dependent factor(s)Governance structure, degree of outsourcing, outsourcing success, inter-organizational coordination and collaborationMain independent factor(s)Coordination costs, transaction risk (opportunity costs), coordination costs, operational risk, opportunism risk, asset specificity, uncertainty, trustSummary of TheoryIn the field of economics and its related disciplines, a transaction cost is a cost incurred while making an economic exchange. A variety of transaction costs exist, for instance, search and information costs are the costs incurred in determining if a required good is available on the market, who has the lowest price, etc The costs required to achieve a satisfactory agreement with the other party to the transaction, drawing up an suited contract, etc., is known as the negociate cost. Policing and enforcement costs are costs that make sure the other party abide the terms of the contract, and taking appropriate action (regularly through the legal system) if this turns out not to be the case.Transaction costs consist of costs incurred in the process of looking for the best provider/partner/customer, the cost of drawing-up a supposedly air-tight contract, and the costs of monitoring deviceing and enforcing the carrying out of the contract. Transaction cost theorists state that the total cost incurred by a firm can be grouped basically into two components transaction costs and production costs. Transaction costs, which are often referred to as coordination costs, are the costs of all the information bear on necessary to coordinate the work of people and machines that perform the primary processes, whereas production costs comprise the costs incurred from the physical or other primary processes necessary to create and distribute the goods or dos being produced.Relationship between theory and Information SystemsTransaction cost theory is based on the notion that a firm incurs transaction costs when the firm buys on the marketplace in comparison to making products for itself. Traditionally, in an attempt to reduce transaction costs firms wouldve gotten bigger, hired more employees, integrated vertically and horizontally, and wouldve taken over small-company. IT helps firms reduce the cost of market participation (transaction costs) and helps firms minimise their surface while producing the same or even greater amount of output.In simplified terms, transaction cost theory supports the idea that assistance or through th e help of technology condescensiones can minimize their costs of processing transactions with the same emphasis and enthusiasm that they attempt to minimize their production costs.FrameworksTraditionally, the Chief Information Officer (CIO)s job description entailed ensuring that the Business dodging and Information Systems outline were aligned. Successful information technology/ stage crinkle alignment, however, entails more than executive level communication and strategy translation.Achieving alignment is usually done by establishing a set of well-planned process improvement programs that systematically trailer truck obstacles and go further than executive level conversation to filter through the entire IT organization and their culture.IT/Business Alignment CycleA by and large used methodology is the IT/Business Alignment Cycle, which introduces a straightforward framework that the IT organization can take on to manage a broad range of activities. The cycles four phases are plan, model, manage, and measure. Organization-wide shared expectations between headache and IT managers are fostered utilizing this cycle, and a universal framework is defined for a wide-range of activities that jointly serve to align IT and business objectives. Within the cycle the best practices and common processes deep down and between IT functional groups are identified which makes IT/business alignment sustainable and scalable. When integrated and automated with software applications and monitoring tools the framework functions optimally.Plan descriptorIn this phase business objectives are translated into quantifiable IT services. This phase acquired immune deficiency syndrome in closing the gap between what business managers need and expect and what IT can deliver. Giga Research reports that IT leaders in poorly aligned organizations are still trying to elucidate technology management issues to their business colleagues and havent made that leap to comprehending business issues and communicating with them on a business-minded level.To bridge the gap between what business expects and what IT can deliver, IT must have an current communication to elucidate business needs in business terms. Without any ongoing dialogue, its difficult for IT to determine which IT services to offer or how to efficiently serve up IT resources to maximize business value. Also, when business needs change, IT ought to adjust and modify the service offering and IT resources fittingly.CIOs should consent the use of a regimented service level management process that will lead to agreement on on the button IT services and service levels required to support business objectives. IT management can then translate service definitions and service levels into fundamental rules and priorities that empower and pass by IT resources.Lastly, IT needs a method to measure and track both business level services and the underlying capabilities that support the services.Model PhaseAn root should be designed to optimize business value. The model phase pinpoints resources needed to deliver IT services at dedicated service levels. This phase involves social occasion IT assets, processes, and resources back to IT services, then prioritizing and planning resources that support those business critical services.The rear line in measuring the triumph of an alignment is the extent in which IT is working on the things which business managers care about. This implies that IT must have processes in place for prioritizing projects, tasks, and support. To effectively prioritize resources, IT needs a service impact model and a centralized configuration and asset management monument to connect the infrastructure components back to particular IT services. This amalgamation is vital if IT is to efficiently plan, prioritize, and constantly deliver services at agreed-upon service levels while also minimising costs.Manage PhaseResults should be driven through fused service support. T he manage phase permits the IT staff to deliver pledged levels of service. Assurance from the CIO that the organization meets expectations by providing a single location for business users to submit all service requests and by prioritizing those requests based on pre-defined business precedence.Without a single point-of-service request, it isnt easy to manage resources to achieve agreed-upon service levels. Furthermore, lacking a system for effectively managing the IT infrastructure and all changes, the IT staff is faced with the danger of cause failures.In order for the IT staff to ensure the effectiveness of the service desk they need to provideA technique for prioritizing service requests based on business impact.A well-organized change management process to reduce the risk of negatively affecting service level commitments.An IT event management system to monitor and manage components that support business critical services.The basic operational prosody that enable service deliv ery at promised levels, in addition to the gist for measuring and tracking the advancement of service level commitments using these metrics. posting PhaseInvolves the verification of commitments coupled with improvement of operations. Cross-organization visibility into operations and service level commitments is improved in this phase. Conventional IT management tools operate in functional silos which confines data collection and operational metrics to focused areas of functionality, relating more to technology than to business objectives.Component-level metrics and measures are definitely essential for continuing service availability. Nevertheless, to support real-time resource allotment decisions, these measures must be construed in a broader business context, with the inclusion of their connections to business-critical services. Without a business context for construing measures and metrics, isolated functional groups cant get a holistic view of IT services that sustain business objectives.By committing to the cycle and integration and automating activities using software solutions, its possible to align a whole organization to make logical improvements that prevail over obstacles.Competitive Forces ModelPorters free-enterprise(a) forces and strategies is one of the popular and effective models for formulating a strategy. After studying a number of business organizations, Michael E. Porter proposed that mangers can formulate a strategy that makes an organization achieve a higher level of profitability and reduce vulnerability if they understand five forces in the industry environment. Porter found the following forces determine a companys position vis--vis competitors in the industryThe disceptation among vivacious competitorsThe threat of impudent entrantsThe threat of substitute products and servicesThe bargaining power of buyersThe bargaining power of providersPorters framework ( competitory forces model) has long been acknowledged as a valuable too l for business people to utilize when opinion about business strategy and the impact of IT. Porters framework illustrates why some firms do better than others and how they gain competitive advantage. It also analyzes a business and identifies its strategic advantages, as well as, demonstrating how entrepreneurs can develop strategic advantages for their own business. And lastly, it shows information systems contribute to strategic advantages.The threat of new entrants The threat of new entrants to an industry can create pressure for established organizations, which might need to hold down prices of increase their level of investment. The threat of entry from in an industry depends largely on the amount and extent of potential barriers, such as cost.The power of suppliers Large, powerful suppliers can charge higher prices, limit services of quality, and shift costs to their customers, keeping more of the value for themselves. The absorption of suppliers and availability of substitu te suppliers are significant factors in determining supplier power.The power of buyers Powerful customers, the flip side of powerful suppliers, can force prices down, demand better quality or services, and hence drive up costs for the supplying organization.The threat of substitutes The power of alternatives and substitutes for a companys product or service maybe affected by changes in cost, new technologies, social trends that will deflect buyer loyalty, and other environmental changes.Rivalry among existing competitors In most industries, especially when there are only a few major competitors, competition will very closely match the offering of others. Aggressiveness will depend mainly on factors like number of competitors, industry growth, high fixed costs, lack of differentiation, capacity augment in large increments, diversity in type of competitors and strategic sizeableness of the business unit.Information Systems Competitive AdvantageIn order to be competitive, companies m ust have a degree of quickness, nimbleness, flexibility, innovativeness, productivity, thriftiness and customer centricity. It must also align its IS strategy with general business strategies and objectives.Given the five market forces mentioned above, Porter and others have proposed a number of strategies to attain competitive advantageLow-Cost LeadershipInformation systems can be used achieve the lowest operational costs and the lowest prices. For instance, Wal-Mart has utilized IT to develop anefficient customer response systemthat directly links customer behaviour back to distribution, production, and supply chains.Product DifferentiationInformation systems can be used in the process of enabling new products and services, or significantly changing the customer convenience in the use of an existing products or services. troop customization enables organizations to offer individually tailored products or services through the use of mass production resources.Focus on Market Niche victimisation information systems enables a firm to pinpoint a specific market focus, and thus allowing them to serve this narrow target market better than competitors. Information systems can support this strategy because it can be used to produce and analyze data for use in finely tuned sales and trade techniques. Companies can now analyze customer buying patterns, tastes, and preferences closely so that they efficiently and effectively pitch advertising and marketing campaigns to little and smaller target markets.Strengthen Customer and Supplier IntimacyThe use of information systems tightens linkages with suppliers and develops intimacy with customers. Switching costs increase when and where therere strong linkages between customers and suppliers (expense a customer or company incurs in lost time and use of resources when changing from one supplier or system to a competing supplier or system).STRENGTHS OF THE FIVE COMPETITIVE FORCES MODELThe model is a strong tool for competi tive analysis at industry level, compared to PEST analysisIt provides useful input for performing a SWOT Analysis demarcation OF PORTERS FIVE FORCES MODELCare should be taken when using this model for the following do not underestimate or underemphasize the importance of the (existing) strengths of the organization (Inside-out strategy).The model was designed for analyzing individual business strategies. It does not cope with synergies and interdependencies indoors the portfolio of large corporations.From a more theoretical perspective, the model does not hail the possibility that an industry could be attractive because certain companies are in it.Some people claim that environments which are characterized by rapid, systemic and extremist change require more flexible, dynamic or emergent approaches to strategy formulation.Sometimes it may be possible to create completely new markets instead of selecting from existing ones.