Recession-proofing Your 529 Plan

Many Section 529 plans were bruised during the past year. Savings you may have counted on to finance your child's college education may have fallen, leaving you scrambling for alternatives at a time when an economic recession doesn't leave much room to maneuver. A lot depends on how old your children are and what other savings and income you have available. If your children are young, there's a strong chance the markets will rebound, and the years leading up to college enrollment give you more chances to save. On the other hand, if your child is 16 or 17, you're running out of time fast. So what's the best way to preserve the savings that remain and position your family favorably for the college years? It makes sense to assess your situation first and figure out: How much savings you have How your investments have performed What resources you'll need to pay for college. With that information in hand, you can decide how to position your savings going forward. "It's especially important with college because you've got a deadline about when you need to use that money to check up on your plan and dust off your thinking about how you are going to fund college overall," says Rene Kim, senior vice president of Schwab Investor Services and head of the company's college planning initiatives. "Is it all supposed to come out of savings? Do you have some room to take some money out of current income? Are there other potential sources of funds, such as scholarships?" Funding assessment If you've been so worried about the state of your college funding plans that you've left your statements unopened, now is the time to grit your teeth and survey the damage. You may be pleasantly surprised: By mid-April, the Dow Jones Industrial Average had bounced back some 25 percent from lows reached on March 8 of this year. But the Dow is down more than 38 percent off its 52-week high, which it reached May 2, 2008. "Study the performance reports that are usually sent out with the statements to get a sense of the kind of portfolios that are available and how your investments have done," says Kim. Look at what you have saved in a 529 plan right now and add any future contributions you're planning, plus any other funding sources, such as Uniform Gift to Minors, Coverdell Savings Accounts established by grandparents and any other taxable money you've saved. Whatever you do, don't think about raiding your retirement savings or reducing your retirement plan contributions to pay for college, says Jonathan Gassman, CFP, CPA, of Gassman & Golodny a financial planning firm in New York. Compare what you expect to have saved with what the total education bill is likely to be. Our World's Simplest College Cost Calculator will help you determine the expected cost. Don't have a heart attack when you see the potential shortfall. College is so expensive, in many cases you are never going to be able to pay the entire bill, so your goal is to fund part of it and use other sources to make up the balance. "There are other ways to pay for college than using your own money and that is other people's money, which includes Pell Grants, student loans, scholarships, student loans, work-study and employer-funded scholarships," says Gassman. "There is so much out there that can help pay for college." How to make an investment change If you're considering changing investment options, you have a couple of choices. First, you could switch to another investment option within the plan you're in, or you could move your funds to a plan in another state or to an independent plan. In either case, be aware that IRS rules permit only one such switch per year, although Congress has authorized a one-time special exception allowing two changes in 2009. However, if you make a beneficiary change, you can also make an investment option change. A beneficiary change involves moving 529 assets from one child to another -- if the first child decided not to go to college, for example. Changing investment options in your current plan can generally be done online. To move funds from one plan to another, you generally have to fill out paperwork and wait for the transfer to occur. Pay close attention to IRS rules and make sure the transfer occurs within 60 days or you'll trigger more tax consequences. Investment option changes Before you make an investment option change, carefully consider what you're hoping to accomplish and not changing solely for the sake of change. The most legitimate reasons to make an investment option change in a college include preserving principal, increasing the potential for higher future returns or lowering your costs. "When looking at what you're invested in, reconsider your options and think about how you feel about risk, given the economic environment, how much you might be able to contribute going forward and see where that leaves you," Kim says. "Step back, and say to yourself, 'How do I feel about risk, given what's just happened in the markets?'" Seeking safety. If safety is your goal, choose an investment option such as a money market account, stable value plan or certificate of deposit. To Gassman, preserving principal is the most important goal. "This money ï ¿ ½ has to be there when college comes up," he says. "Maybe I won't hit the target of what I need, but this way I will at least not lose any principal. It can make sense to cut your losses on your investments and preserve what you've got left because it is not likely that the market is going to turn around quickly." Even if you have more than a few years before your child or children go to college, there is no guarantee the market will turn around in time for you to meet your financial objectives. In fact, it's always possible that you could lose more money, says Ken Borokhovich an associate professor of finance at Cleveland State University in Ohio. The problem with playing it safe is that it practically guarantees you won't have enough money when it comes time to pay the bills, Borokhovich says. "If you play it too safe and don't end up with enough money to reach whatever goal you had for funding college expenses, you will have failed to do what you set out to do," he says. There are other ways to recession-proof your college saving funds without being overly conservative. You could move your money from an aggressive age-based plan to an age-based plan with more conservative options earlier, such as by the time your child turns 15 or 16, so you won't risk principal when college is only a few years away. Maximizing returns. Maximizing your returns isn't necessarily about seeking the investment with the highest potential return. Your investments may be too conservative, as Borokhovich suggests, in which case you can realize a higher return -- without being too aggressive -- by switching from things like stable value or money market funds or CDs. Even a conservative age-based fund could increase returns over a very conservative option, especially over five or 10 years. You could also use single-purpose mutual funds, either using a financial adviser or by yourself. Cutting costs. Cutting costs is one surefire way to boost your returns. Consider switching from adviser-managed plans to a direct plan. Adviser-managed plans generally charge higher ongoing fees and upfront sales charges, which detract from your returns over time. Another way to cut costs is to switch to a direct plan that features index funds over one that features actively managed funds. Because index funds don't have managers who buy and sell securities according to a particular investment strategy, their costs are usually lower. Your plan may also impose fees, especially if you are investing in a plan outside your own state's plan. Other fees may include an enrollment fee or annual maintenance fees. To get a handle on the fees you are paying and for help finding a lower fee plan, check out the Financial Industry Regulatory Authority's 529 Plan cost calculator. Posted May 16, 2009 Many Section 529 plans were bruised during the past year. Savings you may have counted on to finance your child's college education may have fallen, leaving you scrambling for alternatives at a time when an economic recession doesn't leave much room to maneuver. A lot depends on how old your children are and what other savings and income you have available. If your children are young, there's a strong chance the markets will rebound, and the years leading up to college enrollment give you more chances to save. On the other hand, if your child is 16 or 17, you're running out of time fast. So what's the best way to preserve the savings that remain and position your family favorably for the college years? It makes sense to assess your situation first and figure out: How much savings you have How your investments have performed What resources you'll need to pay for college. With that information in hand, you can decide how to position your savings going forward. "It's especially important with college because you've got a deadline about when you need to use that money to check up on your plan and dust off your thinking about how you are going to fund college overall," says Rene Kim, senior vice president of Schwab Investor Services and head of the company's college planning initiatives. "Is it all supposed to come out of savings? Do you have some room to take some money out of current income? Are there other potential sources of funds, such as scholarships?" Funding assessment If you've been so worried about the state of your college funding plans that you've left your statements unopened, now is the time to grit your teeth and survey the damage. You may be pleasantly surprised: By mid-April, the Dow Jones Industrial Average had bounced back some 25 percent from lows reached on March 8 of this year. But the Dow is down more than 38 percent off its 52-week high, which it reached May 2, 2008. "Study the performance reports that are usually sent out with the statements to get a sense of the kind of portfolios that are available and how your investments have done," says Kim. Look at what you have saved in a 529 plan right now and add any future contributions you're planning, plus any other funding sources, such as Uniform Gift to Minors, Coverdell Savings Accounts established by grandparents and any other taxable money you've saved. Whatever you do, don't think about raiding your retirement savings or reducing your retirement plan contributions to pay for college, says Jonathan Gassman, CFP, CPA, of Gassman & Golodny a financial planning firm in New York. Compare what you expect to have saved with what the total education bill is likely to be. Our World's Simplest College Cost Calculator will help you determine the expected cost. Don't have a heart attack when you see the potential shortfall. College is so expensive, in many cases you are never going to be able to pay the entire bill, so your goal is to fund part of it and use other sources to make up the balance. "There are other ways to pay for college than using your own money and that is other people's money, which includes Pell Grants, student loans, scholarships, student loans, work-study and employer-funded scholarships," says Gassman. "There is so much out there that can help pay for college." How to make an investment change If you're considering changing investment options, you have a couple of choices. First, you could switch to another investment option within the plan you're in, or you could move your funds to a plan in another state or to an independent plan. In either case, be aware that IRS rules permit only one such switch per year, although Congress has authorized a one-time special exception allowing two changes in 2009. However, if you make a beneficiary change, you can also make an investment option change. A beneficiary change involves moving 529 assets from one child to another -- if the first child decided not to go to college, for example. Changing investment options in your current plan can generally be done online. To move funds from one plan to another, you generally have to fill out paperwork and wait for the transfer to occur. Pay close attention to IRS rules and make sure the transfer occurs within 60 days or you'll trigger more tax consequences. Investment option changes Before you make an investment option change, carefully consider what you're hoping to accomplish and not changing solely for the sake of change. The most legitimate reasons to make an investment option change in a college include preserving principal, increasing the potential for higher future returns or lowering your costs. "When looking at what you're invested in, reconsider your options and think about how you feel about risk, given the economic environment, how much you might be able to contribute going forward and see where that leaves you," Kim says. "Step back, and say to yourself, 'How do I feel about risk, given what's just happened in the markets?'" Seeking safety. If safety is your goal, choose an investment option such as a money market account, stable value plan or certificate of deposit. To Gassman, preserving principal is the most important goal. "This money ï ¿ ½ has to be there when college comes up," he says. "Maybe I won't hit the target of what I need, but this way I will at least not lose any principal. It can make sense to cut your losses on your investments and preserve what you've got left because it is not likely that the market is going to turn around quickly." Even if you have more than a few years before your child or children go to college, there is no guarantee the market will turn around in time for you to meet your financial objectives. In fact, it's always possible that you could lose more money, says Ken Borokhovich an associate professor of finance at Cleveland State University in Ohio. The problem with playing it safe is that it practically guarantees you won't have enough money when it comes time to pay the bills, Borokhovich says. "If you play it too safe and don't end up with enough money to reach whatever goal you had for funding college expenses, you will have failed to do what you set out to do," he says. There are other ways to recession-proof your college saving funds without being overly conservative. You could move your money from an aggressive age-based plan to an age-based plan with more conservative options earlier, such as by the time your child turns 15 or 16, so you won't risk principal when college is only a few years away. Maximizing returns. Maximizing your returns isn't necessarily about seeking the investment with the highest potential return. Your investments may be too conservative, as Borokhovich suggests, in which case you can realize a higher return -- without being too aggressive -- by switching from things like stable value or money market funds or CDs. Even a conservative age-based fund could increase returns over a very conservative option, especially over five or 10 years. You could also use single-purpose mutual funds, either using a financial adviser or by yourself. Cutting costs. Cutting costs is one surefire way to boost your returns. Consider switching from adviser-managed plans to a direct plan. Adviser-managed plans generally charge higher ongoing fees and upfront sales charges, which detract from your returns over time. Another way to cut costs is to switch to a direct plan that features index funds over one that features actively managed funds. Because index funds don't have managers who buy and sell securities according to a particular investment strategy, their costs are usually lower. Your plan may also impose fees, especially if you are investing in a plan outside your own state's plan. Other fees may include an enrollment fee or annual maintenance fees. To get a handle on the fees you are paying and for help finding a lower fee plan, check out the Financial Industry Regulatory Authority's 529 Plan cost calculator. Posted May 16, 2009

Essay on Justification Report Example - 1484 Words

| GUTD Growth Plan |August 21 | | |2011 | |Give Us This Day Inc. (GUTD) is a 501  © 3 organization dedicated to finding individuals facing |â€Å"It is our calling and passion to help | |adverse circumstances permanent employment and social assistance. |society’s forgotten.† | | | | Dear Dr. Smith: We are submitting herewith our†¦show more content†¦Meaningful employment is essential not only to an individual’s economic security but also their physical and mental health, personal well-being and sense of identity. Introduction Give Us This Day provides career placement assistance for individuals in the Durham area of North Carolina. Our programs are in direct response to the growing number of individuals that are unable to find employment due to reasons such as: criminal records, limited education, overcoming addiction and victims of abuse. Unemployment is an issue that we all pay for in the form of higher taxes and higher crime rates. For some unemployment is a choice; but for others it is a hurdle that they lack the resources to overcome. It is extremely difficult to narrow down a specific percentage pool for our target market because we service an immeasurable number. The goal of the organization is to identify individuals who are going to have a turbulent transition into the workforce and offer positive support to avoid the pitfalls that can derail their lives. Give Us This Day will serve as a liaison between the employer, community and our client. Our clients are referred to us though our partnerships with churches, via the net and other organizations. Each client goes through a personalized program that is worked out and agreed upon between themselves and the individual’s Career Coordinator. Problem Statement AsShow MoreRelatedIndividual Report (50%)806 Words   |  4 PagesIndividual Report (50%) You are required to prepare a report for management, recommending that the Company enter into a new overseas market (defined as a country or large region within it) and outline the main features of the marketing plan. The new market that you recommend is your choice but it must not be one where the Company is already present. The report should be 3000 words max and the hand in date is 13th March 2013 via Blackboard before 12 noon. Your recommendation needs to contain theRead MoreLaw Provisions for Journalists Facing Defamation Cases Essay1508 Words   |  7 Pageswith the protection of an individuals reputation. Should journalists face defamation cases there are defences available. Justification is one of these defences, to use this defence the journalist must prove that what they have written is substantially true. Before the defamation act of 1952 was passed, to succeed with a defence of justification you had to prove the exact truth of every defamatory statement made in the article in question. But now under section 5 of theRead MoreAgile Solutions : Improving Financial Integrity Essay1542 Words   |  7 PagesAgile Solutions: Improving Financial Integrity In many large corporations managing waterfall projects, the first hurdle is typically passing a capital rationing process. This often amounts to project justification through a business case, comparison of ROI, or other such metrics, against those of other projects competing for the same capital allocations. The process usually culminates with allocation of funds to complete the chosen strategic projects. There are many shortcomings of this methodRead MoreCommon Types Of Criminal Defenses893 Words   |  4 Pagescategories are, you did not commit the crime, or you committed the crime but should not be held responsible. To claim innocence, proves should be shown. For example, eyewitness testimony, documentary evidence, or a place that you were else at the time of the crime. The evidence that you committed the act are justifications and excuses. Justification admits the act but contends that you were legally reasonable in taking action. Excuse, the defenses normally reflect a lack of legal capacity. Meaning youRead MoreDo Justification, Belief And Trust Really Describe Knowledge?1634 Words   |  7 PagesDo justification, belief and trust really describe knowledge? For the philosopher Plato, justification, belief and trust defines knowledge. This theory was popularly accepted until the philosopher Edmund Gettier proposed the contrary. Gettier suggested that knowledge is more than trus t, justification and belief. According to Gettier, Plato’s theory does not define knowledge, because trust, belief and justification can be satisfied, but still these conditions do not led to knowledge. Knowledge fromRead MoreHow Self Justification Is Drives Escalation Of Commitment1498 Words   |  6 PagesThe article, â€Å"How self-justification indirectly drives escalation of commitment - a motivational perspective†, examines different influences on decision-making. It demonstrates that people possess the need for self-justification and that self-justification drives the escalation of commitment. Steinkuhler, Mahlendorf, Brettel (2014) argue that the escalation of commitment phenomenon results from indirect cognitive processes such as selective perception sunk cost, and over-optimism ( p.66). TheRead MoreJustification Traps, And General Moral Rules923 Words   |  4 Pagesthe beginning of time. Often times the wrong decision is made by justification traps w hich stem from self-interests and the desire to succeed (Guffey Loewy, 2015). Understanding the justification traps, and general moral rules when the dilemmas arise will ensure the best ethical decision is made every time. A person’s moral identity is based on expected societal norms, such as, religious beliefs, or employer values for example (Gu Neesham, 2014). Whereas, a person’s ethical identity is intrinsicRead MoreIntellectual Products And The Property Right Of An Author1568 Words   |  7 Pagesprotects the property right of an author. As the average life expectancy of a person increased, the authors argued that copyright protection should be increased to provide adequate benefits for their future generation. However, there is no economic justification for this argument because the real beneficiaries of copyrighted works are the intermediaries such as publishers and record companies. Intermediaries are benefiting from the excessive copyright term of protection through a clever drafted contractRead MoreThe Justifications Of Prison And Punishment975 Words   |  4 Pagesthe justifications of prison and punishment, and looking at whether these objectives are being achieved today in the current prisonsystem, with a thorough analysis of short sentences. In order to analyse this, short sentences will be looked at to discover whether the prison system is working. Throughout history, punishment has always had to be justified. For example, pre-19th century, punishment, which included being sent to the gallows or being placed in the stocks, had the justification of beingRead MoreEpistemology And Belief Of Epistemology Essay1128 Words   |  5 Pagesepistemology is important. What is epistemology? The word itself derives from two Greek words: â€Å"Episteme† meaning knowledge and understanding and â€Å"Logia† meaning science of study. In philosophy, epistemology is the study of knowledge, in general. Examples of epistemological questions would be; what does knowledge mean, how does a person get to know something, and what is the basis for true knowledge. Epistemology has to do with how people’s minds are connected to reality, whether invalid or valid

What Does All the Worlds a Stage Mean

The most famous speech in As You Like It is Jaques’ â€Å"All the world’s a stage†. But what does it really mean? Our analysis below reveals what this phrase says about performance, change, and gender in As You Like It. â€Å"All The World’s a Stage† Jaques’ famous speech compares life with theater, are we just living to a script preordained by a higher order (perhaps God or the playwright himself). He also muses on the ‘stages’ of a man’s life as in; when he is a boy, when he is a man and when he is old. This is a different interpretation of ‘stage’ (stages of life) but is also compared to scenes in a play. This self-referential speech reflects the scenes and scenery changes in the play itself but also to Jaques’ preoccupation with the meaning of life. It is no coincidence that, at the end of the play, he goes off to join Duke Frederick in religious contemplation to further explore the subject. The speech also draws attention to the way we act and present ourselves differently when we are with different people thus different audiences. This is also reflected in Rosalind’s disguising herself as Ganymede in order to be accepted in forest society. The Ability to Change As Jaques’s famous speech suggests, man is defined by his ability to change and many of the characters in the play have physical, emotional, political or spiritual changes. These transformations are presented with ease and as such, Shakespeare suggests that man’s ability to change is one of his strengths and choices in life. Personal change also leads to political change in the play as Duke Frederick’s change of heart leads to a new leadership at court. Some of the transformations can be attributed to the magical elements of the forest but man’s ability to change himself is also advocated. Sexuality and Gender The concepts behind â€Å"All the world’s a stage†, social performance and change, are particularly interesting when viewed from a sexuality and gender perspective. Much of the comedy in the play is derived from Rosalind being disguised as a man and trying to pass herself off as a man and then as Ganymede pretending to be Rosalind; a woman. This, of course, would be further intensified in Shakespeare’s time when the part would have been played by a man, dressed as a woman disguised as a man. There is an element of ‘Pantomime’ in camping up the role and playing with the idea of gender. There is the part where Rosalind faints at the sight of blood and threatens to cry, which reflects her stereotypically feminine side and threatens to ‘give her away’. Comedy is derived from her having to explain this away as ‘acting’ like Rosalind (a girl) when she is dressed as Ganymede. Her ​epilogue, again, plays with the idea of gender – it was unusual for a woman to have an epilogue but Rosalind is given this privilege because she has an excuse – she spent a lot of the play in the guise of a man. Rosalind had more freedom as Ganymede and would not have been able to do so much if she had been a woman in the forest. This allows her character to have more fun and play a more active role in the plot. She is quite forward with Orlando in her manly guise, prompting the marriage ceremony and organizing all of the characters destinies at the end of the play. Her epilogue further explores gender in that she offers to kiss the men with fresh breath – reminiscent of the pantomime tradition – Rosalind would be played by a young man on Shakespeare’s stage and therefore in offering to kiss male members of the audience, she is further playing with the tradition of camp and homoeroticism. The intense love between Celia and Rosalind could also have a homoerotic interpretation, as could Phoebe’s infatuation with Ganymede – Phoebe prefers the feminine Ganymede to the real man Silvius. Orlando enjoys his flirtation with Ganymede (who is as far as Orlando knows – male). This preoccupation with homoeroticism is drawn from the pastoral tradition but does not eliminate heterosexuality as one might assume today, more it is just an extension of someone’s sexuality. This suggests that it is possible to have it As You Like It.

Observations On The s I Have A Dream Speech By Dr....

Observations On Mother Teresa By Gene Lalor | Submitted On August 31, 2010 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest This past weekend witnessed a trifecta of momentous anniversaries. Katrina happened 5 years ago, Martin Luther King, Jr. delivered his I Have a Dream Speech on the Washington Mall 47 years ago, and Mother Teresa was born a century ago. Monday: Katrina; Tuesday: I Have a Dream; Today: Mother Teresa After spending a great deal of time on and devoting a good deal of space to the two previous subjects in this series on recent anniversaries, 2005 s devastating Hurricane Katrina and the world-changing 1963 I Have a Dream speech by Dr. Martin Luther King, Jr., I had looked forward to writing an innocuous, little piece on one of the two saints I have ever known. Pope John Paul II was one, Mother Teresa was the other. Not that I personally met with either the pope or the Catholic nun Agnes Gonxha Bojaxhiu, later to be known as Mother Teresa, but I felt that a few words commemorating the anniversary of her birth in Shkoder, Albania on August 26th, 1910 were in order. Agnes middle name, Gonxha, meaning Rosebud, may be somewhat difficult to pronounce in English but thisShow MoreRelatedEssay on Dr. Martin Luther King Jr and The Civil Rights Movement2125 Words   |  9 PagesMartin Luther King jr. was one of the most influential persons of the 20th Century. He is the father of the modern civil rights movement, Dr. Martin Luther King Jr., is recognized around the world as a symbol of freedom as well as peace. King practiced everything that he preached, he did not preach or speak values that he himself did not follow. He established himself as a pastor that was not afraid of hard work, guiding the middle-class congregation to public service. For example, Peake, ThomasRead More Martin Luther King, Jr.: Effective Nonviolence the Multiple Intelligences2987 Words   |  12 PagesMartin Luther King, Jr.: Effective Nonviolence the Multiple Intelligences Introduction Nonviolence can touch men where the law cannot reach them. These words, uttered by the late civil rights leader himself, were the fundamental tenet of Martin Luther King, Jr.s life. These words, though few in number, are great in power. These words, simple, plain, and concise, provide a rubric with which to investigate Martin Luther King, Jr.s creative genius and intelligence. Howard Gardner, eminentRead MoreOvercoming Racism Essay1244 Words   |  5 PagesIn his famous â€Å"I Have a Dream† Speech, Dr. Martin Luther King stated, â€Å"Let us not seek to satisfy our thirst for freedom by drinking from the cup of bitterness and hatred† on regarding how to deal with racism in America. Having more class than your opponent and keeping ones dignity is still possible when pursuing equality, though it may not always be easy. Judith Ortiz Cofer tells in her essay, â€Å"The Myth of the Latin Woman†Read MoreA Brave New World : America Land Of The Free And Home1323 Words   |  6 Pagesencourages gender discourses is media. 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The Expression Of Matriptase Centered On Lung Cancer Cells

The Expression of Matriptase centered networking proteins in Lung Cancer Cells Runyu Zhong1 Chen-yong Lin2 Michael D Johnson2 1Department of Biochemistry Molecular and Cellular Biology and 2Lombardi Cance Center, Georgetown University Medical Center, 3900 Reservoir Rd., NW, Washington DC, 20057-1455 Abstract Pulmonary carcinoma, also known as Lung Cancer, in among the most prevalent and thermal kinds of cancers in the world. A network around Matriptase including it s inhibitor HAI-1, HAI-2 and it s downstream substrate prostasin play a significant role in both the epithelia construction in normal epithelial cells and tumor development and progression in cancer cells. My research focuses on the expression of matriptase, HAI-1, HAI-2 and prostasin in lung cancer cell line NCI-H209, NCI-H292 and NCI-H1944 by means of Western blot and Inmunoflurescense. Antibodies M23, M19 and DC16 are used to recognize matriptase, HAI-1 and HAI-2, respectively and antibidies YL89, YL11 and YL10 are used to recognize prostasin in both experiment. All the 4 proteins in the network are detected to express in all cells line used in research and they express both on cells menbrane and inside cells in NCI-H1944. Both HAI-1 and HAI-2 can act as inhibitors to both matriptase and prostasin while HAI-1 is th e predominant inhibitor. This network should be very essential to the oncogenesis and metastasis of lung cancer cells. Introduction Pericellular proteolysis plays important roles in many

Power of music Essay Example For Students

Power of music Essay Music has an undeniable power to evoke emotion. Music is present at every important social gathering such as- weddings, funerals, birthdays, and more. Every normal person responds to musics ability to tap into peoples emotions.. Music brings up questions such as Why does music evoke emotion? How does music affect emotion? Is music a basic human need like shelter and food Such questions cut to the very core of human nature. Answers to these questions would help to clarify the unique role of music in our lives If emotions and music can influence our senses and how we perceive objects around us, do they also influence how we view other people? They do. Music seems to prime our minds to perceive people in a similar emotional light. In a study, people looked at the extent to which music influences how participants read the facial expression of emotions of others. Studies have demonstrated that normal people are quite good at correctly identifying the emotion on a persons face (without music). Yet listening to music can lead one to believe that an individuals face looks more happy or sad than it really is. For example, a slow tempo song can influence participants to believe that a person looks sad even when they are expressing no emotion at all. On the other hand, when participants listen to faster tempo, upbeat music, they believe a neutral face is more or less happy. Music has a big effect on how we perceive the world. Although its not clear why music has such an influence on our emotions, mood and behaviors, it seems clear that music does alter how we perceive the world around us. Power of music By dado-k

Cross-Cultural Management Communication Collective programming

Question: Describe about the Cross-Cultural Management Communication for Collective programming. Answer: Introduction The purpose of the study is to focus on the lessons, which has taught in twelve weeks about the Cross-Cultural Management and Communication. Cross-Cultural Communication refers to the processes through which people overcome the differences between cultures with communication. I have selected three topics from the lessons on which I will discuss my opinions and understanding about the topics to evaluate the issues regarding that. Discussion Topic 1: What is Culture and Cross-Cultural Communication? (Week 1) Summary The lesson of the first week enabled me to understand the definition of culture and its impacts on the regular life, especially in the organisational culture. According to Adler, (1983), culture is a very complex concept that defines the collective programming of the mind including the feelings, thinking and acting, to distinguish people from each other. This helped me to determine the need for proper understanding of cross-cultural communication in the context of a business organisation to develop the cross-cultural skills and team management capability. The lesson has taught me about the cross-cultures in the organisations to apply the intercultural communications processes in the company to increase the business without any hindrance. Therefore, the issues the organisations are facing, regarding managing the multicultural people in their company is explained here to overcome the situation. Theoretical Reflection The lesson has taught me about the cross-cultural communication that helps to overcome the challenges in the organisations, which rise from the variations of the cultures of the organisations. This is the main issue of this topic, which has stirred me. If the issue continues, then the business organisations have to face many challenges regarding the communication. As culture differs from person to person, therefore it is quiet natural that an organisation will consist various people from different backgrounds. Therefore, the conceptual developments of the topic have helped me to highlight the cultural issues with the theories of cross-cultural communication. Now the question has raised here about the main issue of team management in an organisation that has fallen in a risky situation recently. It can be cleared with the theoretical knowledge of the topic. The conception of culture has derived from the Latin word colere that mean the tilling of the soil like in agriculture. Generally, it refers to the feelings, thinking and acting of an individual while in business world, it refers to the attitudes and behaviour of corporations. As opined by Hofstede, (1993), over last twenty years the organisations are trying to understand the cross-cultural communication concept to implement them in their companies to solve the cultural problem. Therefore, the lesson has made me enable to enhance my knowledge on the concept. The culture can be two types, one type is High Context Culture and the other one is Low Context Culture (Hofstede et al. 2010). The first one refers to the cultures that rely on the non-verbal and subtle situational communications and the other one defines the communications conveyed by words. Therefore, culture will be different if the country will be changed. As the organisations are now engaging themselves in the international business, therefore the main aim of the corporate are to abolish the cultural differences from the organisation. According to the perceptions of the cross-cultural communication the organisations mainly faces the problems like, ethnocentrism, discriminations, cultural imposition, stereotyping, cultural blindness and tone difference (Hofstede et al. 2010). These are the main issues that a company faces due to the presence of the various cultures among the employees. All these are the hindrance in the way to success to attain the organisational goals and to achieve the sustainability in business. These challenges can be overcome through implementing various strategies in the company. The lesson has developed the knowledge regarding the cross-cultural challenges in the company by applyi ng intercultural sensitivity, intercultural communication and intercultural communication skill (Johnson yet al. 2006). I have learnt the solutions too from this lesson. The processes by which the companies can solve this intercultural issue in the company with studying other cultures and languages to enhance knowledge about them. It will help them to understand others culture to abolish the differences between them. Practical Reflection Cross-Cultural communication has applied in the companies to solve the problems about the cultural diversity in the organisations. As the companies are trying to invest their money in the international market to increase the business of the organisations, therefore they are trying to sort out the problem regarding cultural diversity to establish a good environment in the company. Wesfarmers, Woolworths are the companies that have used the cross-cultural communication to solve the problems regarding this fact (International Business: Toward a Definition and a Model). Therefore, I have analysed the issue properly to improve the organisational culture to increase the profits in the business. For those of us who are inhabitant English-speakers, it is opportune that English seems to be the language that people use if they want to reach the widest possible audience (Zander et al. 2016). Therefore, it can be said that the lesson has taught us about the importance of the cross-cultural commu nication in the organisational level. Conclusion The study has enabled me to know about the concept of culture and its origin from where the concept has incorporated in business world. Therefore, the lessons have taught me about the processes of the applications of Cross-Cultural communication in the organisations to gain the profit in business. As the companies are now trying to expand their business internationally, therefore, they have to face many hindrances regarding cross culture. The organisations have to implement the strategies to resolve the cultural issues in the organisations among the employees to gain the maximum profit from their work. Moreover, it has increased my knowledge about the implementation of cross-cultural communication. Topic 2: Cross-Cultural Skills and Abilities (Week 7) Summary Cross-Cultural skills and abilities are the competencies that are required to improve the organisational culture in the company. The abilities and skills in a person that make enable to work in a multicultural environment is the key competency of that person. This helps the organisation to practice the cross-cultural communication. The lesson of this week has taught me about the requirement of skills and abilities to solve the problems regarding cultural issues (Caligiuri, 2000). Therefore, I have gained knowledge about the improvement procedures in an organisation to gain the profit in business. Various models and theories on culture, which has explained in this lesson, have helped me to understand the competencies that are required for developing the organisational culture. The study has revealed that in recent time the employers are finding the people to work in their organisation who have the experience in the cross-cultural skills. Therefore, the discussion of various skills and ability to accept and adopt the cross-cultural communication has given me the knowledge about this. Theoretical Reflection As the lesson has taught me about the skills and abilities of the cross-cultural communication therefore, I have found the main issue in this context is the competency level of the employees. It has clearly showed that the organisations in recent time are hiring the people who are experienced in the cross-cultural environment (Johnson et al. 2006). Therefore, the people who have a set of skills to cope up with the cross-cultural organisational culture are fit for the posts. However, the people who have not the ability of providing the cross-cultural aspects in the organisational basis, they have to enhance the competency of the employees. The organisations are now searching for the employees who are already experienced in the cross-cultural zone to interact with any place and environment with their competency of cultural prospect. Sometimes the employees can understand the cultural variety within the country but at the time they go abroad, then their ability become imperfect in context of that and become inappropriate choice in order to achieve objectives (Lin et al. 2012). Cross-Cultural Skills and Strengths: The abilities and skills, which are required to strengthen the cross-cultural competency, are connected with succeeding in cross-cultural environments include cultural understanding, elasticity and compliance, Cross-cultural communication skills, optimistic attitude and spirit. It can make decisions in the face of vagueness or uncertainty, inquisitiveness and open-mindedness, zeal for learning and new experiences, aptitude to quickly set up and build trust and sturdy relationship building skills (Moore et al. 2012). Demonstrating Those Skills and Strengths for the company: These are the possible effective skills and abilities, which are required within a person to acquire the cross-cultural communication for an organisation. Despite the fact that the above list is not comprehensive, if a person is able to display most of these skills and strengths they are more likely to be seen as potential candidates for overseas positions (Yamazaki Kayes, 2004). However, the good explanation of this study is that through this no one has the need of this, to spent time overseas to demonstrate many of these qualities or skills. The everyday life is enough to develop these facts. The employees can share about times when their flexibility or adaptability in a challenging situation helped them to defeat obstacles and attain results. The people could cite their ability to build trust or strong relationships was an essential part of congregation key objectives. On the other hand, they can report on the processes that able to make some quick decisions in the face of indecision to drag the team through a difficult situation to meet goals (Lin et al. 2012). Practical Reflection I have learnt the skills and an ability that is needed for developing the cross-cultural communication is important for the organisations to increase business. Knowing the local language is not necessary in every country, but process of learning some languages is irrelevant. In the countries like Arabic and Mandarin, knowing the language is not essential and not appropriate for the fearful. According to the lesson, it can be said that the lesson of acquiring a local language is less relevant at the time when the employee is going to take an agreement with any outside country, then they have to know the language properly to complete the business deal. It the countries like United Arab Emirates, where the world of business and education is dependent on English, which is widely spoken in those countries (Lin et al. 2012). The zeal to learn is more important rather than actually learning that. A mere welcome in someone else's language or the ability to say "thank you" or "you are welcome " projects humility, admiration and openness (Johnson et al. 2006). Effectively noticing nonverbal cues is also an important part of getting to know how other cultures convey subtle messages. Gestures may mean completely different things in different countries, and blunders by the uninitiated may lead to much embarrassment all around. In some countries, the gesture of "thumbs up" hand signal is showing good luck while in some countries it is noted to be vulgar sign. Likewise, the hand sign of "zero" is a simple gesture in France whether in Brazil it is very offensive (Johnson et al. 2006). I have seen South Asian employees suspect a manager of being incompetent when he asked for their suggestions. Therefore, the Conclusion The study has explained me the topics of Cross-Cultural Communications and its impact on the organisational culture. In the part, the lesson was on the competency levels of the employees who have to develop their skills and abilities to improve the organisational cultural environment. Therefore, from this study I have gained the knowledge about the required skills and abilities to gain more profit with implementing those in the organisation. Topic 3: Cross-Cultural Communication: Nonverbal Code (Week 6) Summary In this week, the lesson on the non-verbal communication has taught me about maintaining the cross-cultural communication in an organisation to get the profit from the processes. Therefore, the non-verbal communication elements are discussed in the lesson to make us able to know about the non-verbal communications that influence the business a lot. I have developed an idea whether the countries and various body gestures can affect the business and organisational culture (Hall Hall, 1990). I have learnt the issues that many organisations are facing in running their business because of this non-verbal communication gap and misunderstanding. The organisations are now trying to overcome this misunderstanding through developing the non-verbal communication. Therefore, the study has transmitted the ideas about various ways of non-verbal communication to implement in the organisational culture to increase the business level. Theoretical Reflection The lesson has discussed about the non-verbal communications in various organisations regarding the business behaviours. I have found the main issue regarding this topic is the communication between the different cultural corporate heads and the different process of country wise. Therefore, the discussion in the lesson on the variations of the non-verbal communication has influenced the organisational culture as well as the business growth. The study has explained that there are many facial expressions, hand gestures, body positioning, silence, eye contact, and intonation and body postures to express the non-verbal communication (Korac et al. 2001). However, I have felt that the meaning of these communication procedures is different in every culture. If one body posture means politeness for a country, it can be used in another country to express violence. Therefore, the misunderstanding can be emerged from a very simple gesture or body language that can affect the business. If in a c ompany the employees are come from different cultural background, then it is very normal to misunderstand each other (LaFrance Mayo, 1978). It will lead the company towards a weak work culture with unity less employees. For instance, we have found the different use of this non-verbal communication in the countries of Australia and Japan where the same communication style is used for different purpose. In Australia, the silence is believed to be the sigh of inability for doing any work while the same paralanguage non-verbal communication refers to deep thinking in Japan. According to Hall and Hall, (1990), the non-verbal communications are mostly expressed in two types one is Paralanguage and other one is Extra linguistic communication. The first one is expressed through the volume of speaking, speed of talking, interruptions, intonation, silence and words emphasis. On the other hand, the second one refers to the kinetics and oculesics. The paralanguage communications are depending on the speech tone and processes in which the people interact with others. It defines the different attitude of a person while communicating through these processes. Therefore, it plays a crucial role in an organisational culture to create a good business environment in the place. As opined by Korac et al., (2001), there are more processes of non-verbal communications, which helps to improve the communications in cross-cultural environment as well as creates hindrances in the way to success. Paralanguage communication is one of the parts of this that refers to the study o f vocal cues and speech behaviour. Haptics is the variations of touch and its amount that affects one with need, receiving, tolerance and initiative. I have found the colour related communication that is done with the study where the impact of messages sent and received through colour indicators who are called Colorics. On the other hand, the process of Olfactis refers the study of smell on the communication behaviour. Proxemics is the process in which the people position themselves in a situation. Additionally, the Kinesics is the study of human movement and gestures in different situations. According to LaFrance and Mayo, (1978), the other non-verbal communication processes are appearance (dress), interpersonal distance, eye contact, food symbolism and meals, attitude toward time and voice tone differences. All these can refer the cultural differences, which is a part of cross-culture. Practical Reflection The practical expression of this lesson on my mind has enabled me to understand the cross-cultural differences in the organisation. We can find many practical examples about this non-verbal communication process that has led a misunderstanding among the people for being wrongly used in wrong place. The gesture of victory sign expressed by the hand, which is used by the President George H.W. Bush in Australia (Korac et al. 2001). The use of his victory sign has wrongly interpreted in the country and the chaos has risen in the country. On the other hand, the IMF Managing Director Michel Camdessus in Indonesia has held the cross hand posture during the Asian Financial crisis. It has a wrong implication to the people about his intentions. Another incident that has faced the same non-verbal communication problem during the World War II was Winston Churchill when he also wrongly used the victory gesture. Therefore, it can be proved that the communication problem has created many misunderst anding situations in the organisations. The lesson has helped me to understand the applications of this cross-culture that is creating many problems and misunderstanding in the business (Korac et al., 2001). Therefore, I have to solve the problem in this condition to make the companies culturally corrected with implying the proper theories to make the employees culturally improved. I have developed the knowledge about the various non-verbal processes to understand the cultural differences of the countries. As for example, I can state the eye contact as the communication process. In Arab, Latin Europe the eye contact is considered to express intensity while in Northern Europe and North America it is considered to express firm mind state. Therefore, the study has enabled me to identify the issues regarding non-verbal communication processes and then has analysed the theories on it to find out the solution to increase the profitability in business. Conclusion The part of this study has explained the non-verbal communication styles in a cross-cultural organisation that had helped me to improve the quality of the business in the organisation. However, it has not successfully presented the ideas and processes to meet the ultimate goal of attaining a cross-cultural environment in an organisation. 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