Fuzzy Logic Momentum Analysis System For Financial Brokerage Accounting Essay Example

Fuzzy Logic Momentum Analysis System For Financial Brokerage Accounting Essay Abstract- The modeling of fiscal systems continues to keep great involvement for non lone research workers but besides investors and policymakers. Many of the features of these systems, nevertheless, can non be adequately captured by traditional fiscal modeling attacks. Fiscal systems are complex, nonlinear, dynamically altering systems in which it is frequently hard to place mutualist variables and their values. Financial securities firm is concerned with put to deathing orders of purchasing and merchandising of certain sums of portions at the best possible monetary value. Many mathematical and algorithmic systems have been developed for this undertaking, nevertheless they can non look to get the better of a criterion volume based system. This paper proposes a new model for high frequence trading utilizing an intelligent fuzzy logic based impulse analysis system. The system was applied to securities firm of fiscal stocks, and tested against the criterion volume based securities firm system. The Fuzzy Logic Momentum Analysis System has proven to surpass the traditional and standard systems that are used in the industry. Keywords ; Finacial securities firm ; fuzzed logic ; high frequence trading. Introduction It is good known that a chief insufficiency of much economic theory is that it postulates exact functional relationships between variables. On the other manus in fiscal clip series analysis, information points seldom lie precisely on consecutive lines or smooth maps. [ 7 ] suggests that trying to suit these nonlinear phenomena will present an unacceptable degree of instability in theoretical accounts. We will write a custom essay sample on Fuzzy Logic Momentum Analysis System For Financial Brokerage Accounting specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Fuzzy Logic Momentum Analysis System For Financial Brokerage Accounting specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Fuzzy Logic Momentum Analysis System For Financial Brokerage Accounting specifically for you FOR ONLY $16.38 $13.9/page Hire Writer As a consequence of this intractableness, research workers and investors are turning to unreal intelligence techniques to better inform their theoretical accounts, making determination support systems that can assist a human user better understand complex fiscal systems such as stock markets. Artificial intelligence systems in portfolio choice have been shown to hold a public presentation border over the human portfolio director and recent research suggests that attacks that incorporate unreal intelligence techniques are besides likely to surpass classical fiscal theoretical accounts [ 4 ] . Artificial intelligence attacks have late been normally adopted in fiscal modeling. Traditionally, stock market calculating methodological analysiss have been based on either cardinal or proficient analysis. Cardinal analysis efforts to find the intrinsic value of stocks based on extended macroeconomic informations, whereas proficient analysis relies on analyzing market activity, peculiarly historic monetary values and volume. Whilst there is much back uping research for both schemes in fiscal theory we focus on systems utilizing proficient methodological analysis as the subjective and complex nature of cardinal analysis means it has, to day of the month, received small attending in unreal intelligence research. Fuzzy logic was foremost introduced by [ 6 ] . It is a signifier of multivalent logic which, whilst retaining the deductive construction of classical symbolic logic, includes the construct of grade of truth. Rather than being either true or false, as in binary logic, statements in fuzzed logic have a rank map which defines a fuzzy set ( as opposed to a chip set in conventional set theory ) . Fuzzy logic is hence an ideal attack to jobs that require a representation that can cover with estimates, uncertainness and deficient information and it has been applied to spheres every bit diverse as pattern acknowledgment [ 10 ] , railroad control systems [ 2 ] and computing machine game design [ 11 ] . The regulation base and illation engine of a fuzzed system is comparable to that of the cognition base of an expert system. The application of fuzzed set theory in economic science was foremost presented by [ 12 ] and has since received much attending [ 3 ] Time series theoretical accounts were foremost combined with fuzzed theory by [ 5 ] giving rise to fuzzy time-series, the cardinal model of all the investing systems. Research workers making stock trading systems have implemented many fluctuations of this theoretical account. Most late, [ 1 ] has proposed the usage of Adaptive Neuro Fuzzy Inference Systems ( ANFIS ) , which combine the prognostic belongingss of nervous webs, with the concluding mechanisms of fuzzed logic to make an machine-controlled trading and prediction system that has been used for high frequence trading of foreign exchange currencies markets ( FOREX ) . This paper is outlined as follows. In subdivision II we give a general overview about fuzzed logic illation systems. Section III introduces the fuzzed logic impulse analysis system ( FL-MAS ) . Section IV explains the methodological analysis of utilizing FL-MAS for securities firm. Section V provides a public presentation analysis of the system. Finally, reasoning comments are given in Section VI. Fuzzy illation Systems Many types of fuzzed illation systems have been proposed in literature, nevertheless, in the execution of an ANFIS for fiscal anticipations and appraisal, the most suited theoretical account is the Sugeno theoretical account, which uses if-then-rules to bring forth an end product for each regulation which is the additive combination of the input variables plus a changeless term, and the concluding end product is the leaden norm of each regulation s end product. The regulation base in the Sugeno Model, has regulations of the signifier: If X is A1 and Y is B1 so f1 = p1* x + q1* y + r1 If X is A2 and Y is B2 so f2 = p2 * x + q2 * y + r2 ( 1 ) where X A ; Y are predefined rank maps, Ai and Bi are rank values, and pi, chi, and Rhode Island are the attendant parametric quantities that are updated in the forward base on balls in the acquisition algorithm. When we calculate the equation of First order Sugeno the grade of rank variable of X1 in rank map of Ai is multiplied by the grade of rank variable of X2 in rank map Bi and the merchandise is deemed a first Liner Regression Weight ( Wi ) . Finally the leaden mean F1 and F2 is deemed the concluding end product ( Z ) which is calculated as follows: A fuzzed illation systems shown in Fig. 1 is a regulation based fuzzy system that can be seen as an associatory memory and is made of five constituents ; regulation base which consists of the fuzzed if-then regulations, the informations base which defines rank maps of the fuzzed sets used in the fuzzy regulations, the determination devising unit which is the nucleus unit and is besides known as the illation engine, the fuzzification interface which transforms chip inputs into grades of fiting lingual values, and eventually the defuzzification interface which transforms fuzzed consequences into sharp end product [ 13 ] . Fuzzy Logic Momentum Analysis System Making a fuzzed illation system to observe impulse is a complex undertaking. The designation of assorted market conditions has been a subject topic to assorted theories [ 14 ] and suggestions. This paper proposes a fuzzed illation system which categorises the market conditions into 7 classs based on monetary value motion, and will utilize the current volume to find the engagement rates ( PR ) of the trading system each clip. Fuzzy Inference Momentum Analysis The first measure in planing the Fuzzy Logic Momentum Analysis System, FL-MAS, is specifying the market conditions that the fuzzy system has to place. In this paper we use the following 7 market conditions to cover all possible motions of the monetary value series: Beat uping Strong up Slightly up Average Slightly down Strong down Crashing These conditions are considered as lingual values for the fuzzy logic system, and will be used to find the current province of the monetary value formation and its impulse. As impulse is built up, the system looks at the old x sum of ticks and performs an illation process by adding all the motions of the current monetary value to the old monetary value to find whether the general tendency has been up or down after ten points. In other words, impulse is detected by the followers: where is the current monetary value, is the old monetary value, and is a fluctuating counter which goes up or down harmonizing to the motion of the monetary value. whenever monetary value goes up it adds 1, when the monetary value goes down it subtracts 1, therefore this can be used in placing market conditions for x sum of points, where if the market is traveling strongly upwards, it will be detected by holding more 1s than -1 or 0s. This can be explained in the undermentioned equation: ( 2 ) where is the period that we want to observe the impulse for. For illustration, if we want to observe the impulse of the last 100 ticks, we add all the up, down fluctuations and so feed the ensuing figure to the fuzzy system which would lie someplace in the rank maps shown in Fig. 2. Membership maps for the lingual variable of market conditions The same process is applied for ciphering the lingual variable volatility, where the lingual values are as follows: Very fast Fast Medium Decelerate Very slow The fuzzy logic system takes both market impulse and volatility in consideration ; it generates the regulations, and eventually takes a determination based upon the sum of market engagement. The Data Experiments in this paper have been carried out on high frequence tick-data of both Vodafone Group plc ( VOD ) and Nokia Corporation ( NOK ) . For both stocks, 2 months of high frequence tick-data between 2nd Jan 2009 and 27th Feb 2009 has been obtained, and split into 30 subdivisions each. This was done in order to avoid any car correlativity between the monetary values. In other words, the fuzzy logic system gets the first batch of informations, performs all the actions of bargains or sells on it, so the same is process repeated utilizing the criterion volume based system, eventually comparing the public presentation of both systems. Once the observation is obtained, the system skips about 10000 ticks and performs the same operations once more, for 30 times, each clip observing the public presentation of both systems. It has to be mentioned that 2 months of high frequence tick informations is a significantly big sum of informations, taking in consideration that for each loop the sy stem takes the analysis of the impulse of the past 100 ticks. Fig. 3 shows how the information is split after each simulation in order to avoid any possible similarities or autocorrelation in the monetary value. FL-MAS for securities firm tick informations discarded tick informations High frequence tick by tick informations Sim 1 Sim 2 Sim N The chief aim of the Fuzzy Logic Momentum Analysis System ( FL-MAS ) implemented in this paper is to surpass the industry criterion volume system, that has been used by securities firm houses to put to death big orders of purchasing or selling a certain stock. Many systems have used quantum modeling and analysis to find the assorted engagement rates ( PR ) , nevertheless they normally fail to surpass the criterion volume system in the long term [ 15 ] . This paper uses FL-MAS presented in subdivision 3, to find the PR in the market harmonizing to the current impulse. In other words, if we are on a bargain order, we would prefer to increase the PR ( figure of portions bought at that clip ) , when the monetary value is low, and diminish the engagement when the monetary value is high. Tick informations splitting mechanism Standard Volume System ( SVS ) A standard securities firm mechanism for put to deathing big orders is a simple volume based system, which parses the volume being traded, whenever a certain sum of portions ( a threshold ) have been traded, the system would purchase or sell ( depending on the order ) a certain per centum of that. In other words, if there is an order to merchandise 1 million portions of a certain stock. The threshold would be for e.g. 10,000 portions, and whenever 10,000 portions have been traded, if the PR is set to 25 % , the system would purchase or sell 25 % of the mean volume. ( 3 ) where N is the figure of operations required to make the mark order for illustration 1 million portions, % is a fixed PR, for illustration, 25 % whenever the threshold is exceeded. The above system has proved to be efficient and is being adopted by many securities firm houses around the universe. The purpose of this paper, is to turn out that FL-MAS outperforms this type of system on the long tally. FL-MAS The thought here is to utilize the fuzzy logic impulse analysis system described in subdivision 3, to place what market status we are presently shacking in. This will let us to change the PR ( % ) . This provides an advantage, since the system can merchandise sharply when the status is at an extreme. It would besides understate its trading when the status is at another extreme. In other words, if we are selling million portions, the system will do a trade whenever the threshold of volume has been exceeded. However if the current market status indicates that the monetary value is really high or beat uping so we know that this is a good clip to sell a batch of portions, for illustration 40 % of the current volume. The same thing applies for when the impulse indicates that the monetary value is strong down which means that the system should sell less sums of volume at this low monetary value, for illustration 15 % . The contrary mechanism applies for purchasing portions. When the market is crashing, this is a good index that we should purchase a big ball of volume ( 40 % ) , and when the monetary value is at an mean point, this means that it would act like the SVS system i.e. purchasing 25 % of Volume. This is shown in Table 1. Engagement rates for buy side and the sell side of FL-MAS Market Condition Buying Praseodymium Selling Praseodymium Beat uping 10 % 40 % Strong up 15 % 35 % Slightly up 20 % 30 % Average 25 % 25 % Slightly down 30 % 20 % Strong down 35 % 15 % Crashing 40 % 10 % Performance Measures After implementing both SVS and FL-MAS, the standards at which both systems will be compared against each other will be the outperformance of FL-MAS on the SVS in footing points. TheA footing point is a unit of step used frequently to depict the per centum at which a alteration in the value or rate of a fiscal instrument has occurred. One footing point is a1/100th of a per centum orA 0.01 % . It is besides tantamount to 0.0001 in denary signifier. To cipher the betterment ( elf ) for the buy side in footing points we use the undermentioned expression: iˆ?iˆ?iˆÂ © For the Sell Side the betterment in footing points is: iˆ?iˆÂ µiˆÂ © Where is the entire cost of purchasing x sum of portions utilizing FL-MAS, and is the entire cost of purchasing the same figure of portions utilizing the traditional SVS. Consequences This subdivision displays the consequences of utilizing both FL-MAS and SVS to purchase 1million portions of VOD and NOK. For each symbol 30 simulations have been carried on the tick-data set described in subdivision 3. The information has been split as described in order to avoid any autocorrelations, both systems have been run and tested on the same information sets. Table 2 displays the cost at each simulation for purchasing 1million portions of NOK utilizing both systems. The mean monetary value of the whole set is besides displayed, and eventually the betterment of FL-MAS against SVS is displayed. This betterment rate can be either positive ; when FL-MAS has outperformed SVS or negative ; when FL-MAS was outperformed by SVS. Table 3 provides a full analysis of Table 2, by demoing clearly the mean outperformance rate of purchasing 1million portions of NOK utilizing FL-MAS, which turns out to be a positive of 2.98 footing points, which means that on mean utilizing FL-MAS we save about 3 footing points whenever we buy 1 million portion of NOK. Table 3 besides displays the consequences of implementing both systems to purchase 1 million portions of VOD. These consequences for VOD ( besides displayed on Fig.4 ) show a much higher mean of around 12.5 footing points. Experiments have been performed once more by reshuffling the information sets utilizing the informations slots that have non been used before, and the observations were really similar to these consequences. Hence another measuring mechanism was to detect the median of the consequences. The median is described as the figure dividing the higher half of a sample or distribution from the lower half. Both Medians for NOK, and VOD were positive, bespeakin g that on mean FL-MAS outperforms SVS for all the purchasing Simulations. Comparing the public presentation of FL-MAS against SVS for purchasing 1M portions of NOK Average Monetary value Cost of purchasing 1m NOK Shares utilizing FLMAS Cost of purchasing 1m NOK Shares utilizing SVS Improvement in footing points 11.55 11278964 11285761 6.02 12.19 11581642 11572708 -7.72 11.57 11904468 11910571 5.12 11.12 11610312 11581174 -25.16 11.45 11076799 11087759 9.88 11.36 11456338 11452293 -3.53 11.03 11390049 11404634 12.79 10.89 10947120 10956223 8.31 10.45 10923870 10950576 24.39 10.31 10373596 10377899 4.15 10.63 10354815 10367941 12.66 10.78 10655795 10644194 -10.90 10.70 10816236 10814437 -1.66 10.45 10723627 10737409 12.84 10.24 10281461 10286957 5.34 10.48 10214443 10205979 -8.29 9.67 10553155 10547707 -5.17 9.67 9581014 9602197 22.06 9.40 9754339 9740190 -14.53 9.22 9521736 9544895 24.26 9.10 9282640 9280416 -2.40 9.38 9135088 9149560 15.82 9.27 9434147 9457587 24.78 9.42 9262702 9272236 10.28 9.77 9439104 9430047 -9.60 9.87 9807817 9799844 -8.14 9.49 9880881 9885421 4.59 9.58 9585207 9580119 -5.31 9.48 9619778 9624263 4.66 9.40 9556780 9555829 -1.00 9.67 9350444 9359424 9.59 9.98 9724834 9707290 -18.07 9.94 9869580 9869177 -0.41 Analysis of consequences of purchasing 1m portions of NOK and VOD Mean ( elf ) Median ( elf ) Entire ( elf ) Buying NOK 2.98 4.63 101.18 Buying VOD 12.48 1.58 374.53 Besides the entire betterment of both is really high indicating that for both the 30 simulations, a 101.18 footing points was saved utilizing FL-MAS on NOK, and a 374.53 on VOD. Buying 1m portions of VOD Similarly, the sell side is displayed in Table 4, and analysed in Table 5. Similar to the bargain side, all simulations and experiments utilizing FL-MAS and SVS, have displayed that on mean FL-MAS has proved to be the better system, and therefore would increase the profitableness of a fiscal securities firm house that executes multiple big orders. Fig. 5 displays the merchandising of 1m portions of VOD. Comparing the public presentation of FL-MAS against SVS for selling 1M portions of VOD Average Monetary value Cost of selling 1m VOD Shares utilizing FLMAS Cost of selling 1m VOD Shares utilizing SVS Improvement in footing points 139.75 138379831 138304137 5.47 142.10 141880579 141466276 29.20 147.30 145752861 145974583 -15.21 145.70 147127925 147242618 -7.80 144.50 145284236 145840646 -38.30 148.30 141887321 141926909 -2.79 138.30 138593022 138540789 3.77 137.60 138159371 138119542 2.88 138.45 137192635 137152512 2.92 138.80 136243869 137297036 -77.30 138.70 138854269 138889050 -2.50 135.95 134818894 134622571 14.56 133.85 135551066 135198498 26.01 136.50 133744440 133824812 -6.01 135.55 136450408 136384280 4.85 139.50 136381824 136248448 9.78 138.30 138364382 138217262 10.63 136.85 136263730 136277519 -1.01 134.20 133894601 133855738 2.90 134.56 133894289 132534941 101.52 127.10 129477007 129129593 26.83 128.90 127159502 127174918 -1.21 130.85 129889373 129821846 5.20 135.50 130203793 130019981 14.12 136.85 135468629 135441956 1.97 136.45 136622702 136595289 2.01 138.05 136719313 136746751 -2.01 136.65 134943043 135082269 -10.32 132.15 133857223 134159108 -22.55 Analysis of consequences of Selling 1m portions of NOK and VOD Mean ( elf ) Median ( elf ) Entire ( elf ) Selling NOK 1.6812 2.9291 57.16 Selling VOD 2.73 2.46 81.83 Selling 1m portions of VOD Decision The job of order executing is a really complicated one. To be able to supply the best monetary value, an executing system has to dynamically alter the engagement rates at each case in order to provide for monetary value alterations, which are driven by impulse and volatility. This paper has introduced a system that makes usage of fuzzed logic, in order to ground out the current market status which is produced by the accretion of impulse. FL-MAS is a fuzzed logic impulse analysis system that outperforms the traditional systems used in industry which are frequently based on put to deathing orders based on the leaden norm of the current volume. Consequences of the enforced system have been displayed and compared against the traditional system. The system proves that on norm it increases profitableness on orders both on the bargain and sell sides. Further work and research has to be done to optimize the public presentation of the system. This could either include the usage of a familial algorithm to optimize the rank maps or the usage of Adaptive Neuro Fuzzy systems which would bring forth all the possible regulations for the system.

Chief Joseph essays

Chief Joseph essays The person that I did my first quarter project on was Chief Joseph. Chief Joseph was born in 1840 in the Wallowa Valley (the Wallowa Valley is now northeastern Oregon). He was born into the tribe of the Nez Perce. The name that the tribe gave him was Hin-mah-too-yah-lat-kekt, the translation is Thunder Rolling Down the Mountain. He was also known as Joseph the younger because, Joseph was the name his father had taken Joseph the Elder (Josephs father) was the first Nez Perce to convert to Christianity. He also tried hard to keep peace between the tribe and the whites. In 1855 Josephs father helped Washingtons territorial governor set up a reservation for the Nez Perce, which ran from Oregon into Idaho. Only eight years later there was a gold rush in the Nez Perce territory. The government took back a lot of their land and they were left with only one-tenth of the land they had received. Josephs father was angry and destroyed his American flag and Bible, he then refused to move his tribe form the Wallowa valley or sign the treaty that would make the new reservation boundaries official. Eight years later Josephs father died leaving Joseph in charge. Joseph was left with his fathers name and the same problem. Whites kept coming to Wallowa Valley. Joseph kept fighting for his land and it looked like he would be able to keep it when in 1873 a federal order was written to move all white setters out of Wallowa Valley. But soon after, in 1877 General Oliver Otis Howard threatened to attack Josephs tribe if they didnt leave for another reservation in Idaho. Joseph did not want to fight the army so he started to lead his people to Idaho. But before they left, twenty Nez Perce warriors killed several nearby white settlers because they were angry about loosing their land. After that the U.S army went looking for Josephs tribe and find the ones ...

Ideology Essay Example | Topics and Well Written Essays - 750 words - 1

Ideology - Essay Example One of the issues that affect linguistic students is racism in the class situation. Despite the clogging of the classrooms, the linguistics teachers have kept on working. This has seen numerous changes in that the academic organizations have set up institutions that major specifically on the training of linguistics teachers. This has caused an upsurge in the number of qualified linguistics teachers. With the increase in the number of linguistics teachers, students have been widespread and every linguistics teacher has had a standard number of pupils in his class (Kumaravadivelu, 2003). This has given the teachers a better learning atmosphere and thus increased their performance index. Consequently, they have received awards from the academic organization that employ them. The organization has had the ability to increase salaries from the high amount of money that it acquires in terms of school fees. Racism in the past was another issue that hindered the development of the teaching fraternity. History is one of the key subjects that dwell on the issue of racism. It is thus important for this issue to be also viewed with relation to the subject of a linguistics teacher. One of the aspects of racism and actually the major aspect is about employment. In the past, Black people did not receive appropriate employment opportunities and actually ended up working for wealthy people in their farms and other casual jobs. This did not give them opportunities to explore other areas that they might have excelled. This has changed over the years, and the chances of all races to get a job in the academic field has assisted in that the quality of education has increased paving way for increased payments (Kumaravadivelu, 2003). With this, the linguistics teachers have had the ability to teach some of the students that avoid the classes due to the ethical imbalance. . The concept of racism had affected the linguistic linguistics teachers working exceedingly. This is from the

The Current Economic Situation Marked by High Unemployment and Low Essay

The Current Economic Situation Marked by High Unemployment and Low Inflation - Essay Example This essay not only describes current economic situation in the United States that was explored as an example. The current economic situation in the United States of America marred by high unemployment and low inflation can ideally be explained with the help of the Philips Curve. As per A W Philips, there existed a relationship between the levels of unemployment and consequently the rate of change in money wages and the rate of change in prices and hence inflation. To put it in simple words, as per the Philips Curve, historically speaking, their lies an inverse relationship between Demand Pull Inflation and the rate of unemployment. The researcher also provides the reader with some steps, that would not only increase the aggregate demand but would also check the expanding unemployment rate. The Salient Factors that have impacts on the US economy rates, such as The Labor Market, Product Markets and Other Factor Markets are explored in details. The researcher od this essay also discuss es and presents some alternate scenarios that say an unemployment rate of 8.8 percent and an inflation rate of 10 percent will not warrant such measures. In such scenario that was discussed, the pragmatic approach on the part of the government will be to pursue a restrained fiscal and monetary policy to contract the supply of money in the markets. In conclusion, it is stated that in the current scenario showing high unemployment and low inflation, it is advisable that the government pursues an expansionary fiscal and monetary policy.

The results of technological innovation

The results of technological innovation Executive Summary: The purpose of writing this report was to examine the results of technological innovation in an organization. The major findings in this report indicate that technological innovation is necessary in every organization for the betterment of the same itself. Here in this report the study has been made on the Barclays Banks PINsentry device. Nevertheless the complete research is on this particular innovation of the bank. But there is some discussion about the technological innovations and its advantages and disadvantages in the former part of the report to clear the concept of technological innovation to every individual reader. Later as the report progresses towards the body there lies a short discussion about the role of manager in an organization towards the technological innovation. And just following to this there is a short description about banking industry, as it is the indirect base of the report and the topic. Later on we can see a discussion about the technological innovation of Barclays Bank i.e. the PINsentry device. Continuation to the PINsentry, there are the advantages and disadvantages of this new invention. And in the ending part of the report there is a spotlight show on the benefits which the Barclays Bank got due to the innovation. As problems are part of every innovation, so does the PINsentry device had, which are mentioned just followed to the benefits. As we proceed to the end of the report there lays the conclusion about the report. And in the end lays the bibliography about the sources of the complete report. Introduction: In this present fast and rapid changing world it is necessary for every organization to come up with innovation. Whether it is an innovation in organization culture or it is in the field of technology, it is necessary to keep innovating new ideas and technologies in order to survive. A technological innovation takes place when there is a need of a new product as per the requirement of the specified market. A technological innovation heralds the organization and helps it enhance efficiently. What is technological innovation? Any improvement in present technology or an invention of any new technology is called technological innovation. Technology is an instrument provided by science which enormously enhances it powers, as Albert Einstein did with his innovations. An innovation is a tool with which technology flourishes. Basically both innovation and technology are complementary to each other. Advantages and disadvantages: The world today has changed a lot with the aid of technology. Those things which were once done manually have not turn computerized. Almost everything is a click ahead. Every innovation has advantages as well as disadvantages. But on most of the cases advantages covers the part of disadvantages. Technological innovation also has some advantages and disadvantages too. Few of them are mentioned below: Advantages: Globalization: New technologies have bind world very close. The businesses have come under one system i.e. online to a greater extent. The linguistic and geographical boundaries have been removed by means of innovative technologies. Cost effectiveness: Since the business has become online the costs for running a business have been reduced to a large extent for many organizations. The machines have replaced human. Communication: With the advent of new technologies communication has become very easy, fast and cheap. E.g. -Mobile, internet etc. 24/7: Organizations have switched to online business with the help of new technologies, hence globally. This feature has increased the flexibility of business and has helped to grow and earn faster. Job opportunities: With the evolution of new technologies the scope of employment has also raised. Every new technology requires specialized skilled person to work on them. Disadvantages: Scope of unemployment: With the innovation of new technologies, the business has become more streamlined which has led to job reduction of staff, downsizing of organizations and outsourcing in other countries. This has created unemployment at lower and middle level of many organizations. Dominant culture: Since the world has become a global village, the culture is being dominated by the strong one. For example,>>>>>>>>>>>>>>>.> Lack of security: As the technologies have made communication easier and faster but the level of security has been endangered too. Examples email hacking, Role of manager to support innovative technology: Every industry comprises of many competitors. So it is the key responsibility of the manager to support the new technology in order to make it efficient and effective. Everything to support the innovation is to be done by the manager itself. The role of manager in support of innovation is as follows: Mentor: One of the key roles of the manager for the organization is to act as a mentor. As the word mentor itself suggests about the duty of manager. The manager has to adopt every individual idea about the new innovation and have to make sure that the organization achieves its complete goal through full potentials. Identifying strengths and weakness: Again the manager has to sort out the strengths and weakness of the new technology brought in an organization. By capitalizing on strengths the manager has to flourish the new technology and then put a check on weakness and eliminate it for making the innovation successful. Right timing: A right vision about when the innovation should be brought into the market to attain best results is of utmost importance. Because that only will decide the success or failure of new innovation. Reviewing concepts: Reviewing the concepts about the new technology and the figure out how it relates to the organization culture and working and how it can enhance the organizations efforts in the field of new technology. The Banking Industry: The Banking industry is one the most simple and reliable business which takes deposits from the customers at a lower rate of interests and lends them into the market at a higher rate of interest. The technology played a great role in the development of banking industry. With the help of new technologies the banking industry has transformed from being manual to automatic or computerized systems. Banks have now become global. Due to the innovation in technology banking services became available 24 hours every day for the whole year comprising of 365 days. The banking industry regularly comes up with new innovative technologies in order to make banking more easy, convenient, safe and faster. It is due to the help of new and improved technologies that the business is carried on globally with the help of banking industry. Earlier a person had to wait for days and months to make a transaction in other country. But now with these new technologies it is very simple and fast to make a transac tion in any part of world in a fraction of second. Let us cite an example of a particular bank, in order to explain the innovative technology in the banking industry. And what effects and changes it brought to the industry with its new innovative product or services. The bank which we are taking into example to explain the innovative technology and its effect on the organization is the Barclays Bank. Barclays Bank: It is a British financial service being operated worldwide in different countries. According to Forbes Global 2000, Barclays is the 25th largest company in the world. And it is one of the major banks in the UK. The bank has got two major clusters; Global retail banking and corporate and investment and wealth management. Though Barclays have many other constituents as well like Barclays private equity, Barclays Cards etc. Being such a big organization, it has to keep innovating new technologies to become unique in the market. Though there were many innovative systems being introduced by Barclays in recent years. But the most remarkable and latest is the PINsentry, a device/system which regulates online banking and keeps the interest of its customers secured and safe from frauds. Barclayss PINsentry: PINsentry is a device developed by the Barclays Bank in order to prevent fraudulent in online banking. The device is a two factor authentication security system. The PINsentry device has a small LCD, 4 main buttons and a number pad. Barclayss online banking has always been highly secured but the invention and introduction of PINsentry has added up an additional level of security. The use of this system is very easy and quick. The PINsentry is a type of card reader which generates codes for login which are based on the last four digits of your customers card. Every time when one has to login, it generates a new code. All a person needs to do is insert the card in the device and enter the secret pin number on its number pads to generate a new code. Basically the PINsentry i.e. the card reader reads the card details and generates a new code accordingly for login. It then generates an eight digit code for using online banking. The PINsentry device needs to follow certain steps in order to get started and use it every time. All you have to do is get the Barclays card, PINsentry device and 12 digit online banking membership number. After having these entire things, a customer has to get registered online for PINsentry. And it is ready to use. Advantages of PINsentry: The PINsentry added a numerous numbers of advantages to the customers of Barclays. Some of them are mentioned as below: Easy and quick in use. Safe and secured online banking. Hassel free service. Additional level of security with no frauds. Privacy of customers. Smart technology in modern times. Disadvantages of PINsentry: Though every technology has advantages but it always have some set back too. They are as follows: Inconvenient to carry device everywhere. After every 90 seconds the device turns off. Problems in using overseas. Time consuming process. The card gets locked if incorrect pin is entered thrice. These were the advantages and disadvantages of PINsentry of Barclays. Irrespective the disadvantages, the new technology have been liked by the customers and have been accepted widely all over. The Barclays says that till date there has been no frauds occurred with usage of PINsentry. The bank gained distinct recognition in the industry with the introduction of this technology. Benifits to Barclays: A distinct recognition was achieved by Barclays in the industry with PINsentry. A combat in frauds made common people have more faith in Barclays. A growth in customer is achieved because of new technology. Increased market goodwill. Online usage growth. Wide acceptance by customers. Problems faced by Barclays: Irrespective of having so many benefits, Barclays faced many problems too with PINsentry. Problems with the device were found with many customers. It became difficult for them to access online banking. The device was not accepted in every country. So it was difficult when customer were overseas. The PINsentry implemented security on own banking, but it is the same like a normal card when used on other sites. Safety only for debit card users. Inconvenience faced by customers forced them to switch over to other banks. Though the device faced complication and few problems but it is still in use and people find it worth and good are still accepting it. The Barclays also took certain measures to overcome these problems and on the major front the benefits of PINsentry cannot be overlooked. Conclusion: It is worth to mention that PINsentry by Barclays brought a new technology in banking industry. And it is worth appreciating. Everything coin has two sides, like wise every innovation has both advantages and disadvantages too. Though it can be said PINsentry had quite a few negative remarks, but the positive remarks are far important and appreciable which cannot be overlook. So personally I would say that the PINsentry device has a greater importance for online banking even if it adds an extra step to access but it is all for self security. And as far as we all know, everybody in this world could spare a few minutes for their own security rather than being unsecured even when you have the technology. Bibliography: C. J. Touhill, Gregory J. Touhill, Thomas A. ORiordan (2008), Commercialization of innovative technology, John Wiley Sons Inc., New Jersey, Ch. .16, 17. John Howell (2005), The management of innovation and technology, Sage Publications, Cornwall, Ch- 1. http://www.eoearth.org/article/Technological_innovation http://www.slideshare.net/jamilkhatib/technology-and-innovation-management-1186056

Multiple Sclerosis Essay -- essays research papers

Multiple sclerosis, or MS, is a disease of the central nervous system. The central nervous system is made up of the brain and spinal cord. Both have nerve fibers that are wrapped in a myelin sheath. In MS, the myelin sheath becomes inflamed and gradually is destroyed. With the destruction of the myelin sheath comes an array of symptoms that may include numbness or tingling, balance problems, weakness, muscle spasms, and blurred vision.   Ã‚  Ã‚  Ã‚  Ã‚  Anyone can develop MS, but many patients share the following characteristics. The majority experiences their first symptoms between ages 20 and 40. Caucasians are more than twice as likely as other races to develop MS. MS is two to three times more common in women as in men. MS is five times more common in temperate climates like those of the northern US, Canada, and Europe. And people whose close relatives have MS are more susceptible to developing the disease, but there is no evidence the disease is directly inherited.   Ã‚  Ã‚  Ã‚  Ã‚  No single test detects MS, which makes it difficult to diagnose. Symptoms can mimic those of a number of other conditions and they can change depending on the area of the central nervous system that loses myelin. Some symptoms of MS are numbness or tingling in parts of the body, usually an arm or leg, unexplained weakness, dizziness, and fatigue, and blurry vision, double vision or blindness.   Ã‚  Ã‚  Ã‚  Ã‚  To diagnose the disease, healthcare providers...

Jeff Bezos, Amazon.Com’s Founder

In your opnion, what makes a great leader? Is it a person who leads with upright priority for his staff, never misses a moment to communicate with his team and always values the advice of others? Or is it a sharp-witted leader who focuses on profitability, knows how to corporate and is brilliant in maintaining a good relationship with every business partner? The two mentioned stereotype seem consistent in the business world nowadays; however, the America’s best leader is neither of them. Jeff Bezos, founder of the Amazon. om, the leader who was named one of the best in America, is a man of surprise who fears no failure and remains stubborn with his goals regardless of all the critics and misunderstanding the world has given him. For all those reasons, our groups has chosen him as our favortie leader to present about today. Jeff owns many charateristics to be a great leader, most prominent among which is his ability to be longterm-oriented ; in other words, he is a visionary le ader. He did not mind the slow growth in the first 4 years of operation and quick-buck has never been one of his objectives.After 6 years of doing the business, the company finally made a profit and that was when Jeff Bezos said: â€Å"For the first four years of the company, we worked in relative obscurity. We always had lots of supporters and we always had lots of skeptics, and that's still the same today. It's just that the level of visibility is so much higher. If you look at the six years that we've been doing business, in exactly one of those six years we were not the underdog. † â€Å"Sometimes we measure things and see that in the short term they actually hurt sales, and we do it anyway. Jeff was well aware that every company requires a long-term view and if a leader is going to take a long-term orientation, he has to be willing to stay heads down and ignore a wide array of critics, even well-meaning critics. Coworkers and chroniclers characterize Bezos as a visionar y who on the surface is easygoing but keeps his employees on demanding schedules. He sets weekly management meetings with managers reporting on new products and pricing and taking on questions from the CEO.Bezos has promoted innovative efforts among his employees through the Just Do It program, which rewards those who come up with and execute ideas that help the company – without first obtaining permission from their bosses. He has a vision which he is able to explain to his employees through what he has done and that is what makes his employees look up to him and commit themselves to the company. Another trait that makes Jeff Bezos so good a leader is that he is a paradoxical mix of stubbornness and flexibility. He once said: â€Å"If you’re not stubborn, you’ll give up on experiments too soon.And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solv e. † Jeff Bezos learned the importance of being goal-oriented. He never gave up and was willing to try new things when the old things weren't working. He accepted his failures, and the failures of those working with him as lessons learned ( nhu bai hoc kinh nghiem) and moved on to the next strategy. Because of this determination to persevere and reach goals, people were willing to follow him and believe that he would keep working until he eventually achieved success.His flexibility reflects in the way he handles tough decisions. Normally with decisions he seems to be fact-based. Bezos will make an extraordinary effort to study the numbers rather than rely on his team's best instincts and judgments. However at other times, Bezos says, you can't solely rely on facts because it would be too hard to test an idea, or too costly, or you can't figure out how to do it. Jeff Bezos, Amazon. com's founder, is a study in contradictions — analytical and intuitive, careful and audaci ous, playful and determined.