Ivan Pavlovs Influence on Psychology

Ivan Pavlov's Influence on Psychology History and Biographies Print Ivan Pavlov and His Discovery of Classical Conditioning By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on September 16, 2019 traveler1116 / E / Getty Images More in Psychology History and Biographies Psychotherapy Basics Student Resources Theories Phobias Emotions Sleep and Dreaming Ivan Pavlov was a Russian physiologist best known in psychology for his discovery of classical conditioning. During his studies on the digestive systems of dogs, Pavlov noted that the animals salivated naturally upon the presentation of food. However, he also noted that the animals began to salivate whenever they saw the white lab coat of an experimental assistant. It was through this observation that Pavlov discovered that by associating the presentation of food with the lab assistant, a conditioned response occurred. This discovery had a reverberating influence on psychology. Pavlov was also able to demonstrate that the animals could be conditioned to salivate to the sound of a tone as well. Pavlovs discovery had a major influence on other thinkers including John B. Watson and contributed significantly to the development of the school of thought known as behaviorism. Take a closer look at Ivan Pavlovs life and career in this brief biography. Ivan Pavlov is best known for:Classical conditioningResearch on physiology and digestion1904 Nobel Prize in Physiology His Early Life Ivan Petrovich Pavlov was born on September 14, 1849,  in a small village in Ryazan, Russia, where his father was the village priest. His earliest studies were focused on theology, but reading Charles Darwins On the Origin of the Species had a powerful influence on his future interests. He soon abandoned his religious studies and devoted himself to the study of science. In 1870, he began studying the natural sciences at St. Petersburg University. Pavlovs Career and Discovery of Classical Conditioning Pavlovs primary interests were the study of physiology and natural sciences. He helped found the Department of Physiology at the Institute of Experimental Medicine and continued to oversee the program for the next 45 years.?? Science demands from a man all his life. If you had two lives that would not be enough for you. Be passionate in your work and in your searching,  Pavlov once suggested. So, how did his work in physiology lead to his discovery of classical conditioning? While researching the digestive function of dogs, he noted his subjects would salivate before the delivery of food.?? In a series of well-known experiments, he presented a variety of stimuli before the presentation of food, eventually finding that, after repeated association, a dog would salivate to the presence of a stimulus other than food. He termed this response a conditional reflex. Pavlov also discovered that these reflexes originate in the cerebral cortex of the brain.?? Pavlov received considerable acclaim for his work, including a 1901 appointment to the Russian Academy of Sciences and the 1904 Nobel Prize in Physiology.?? The Soviet government also offered substantial support for Pavlovs work, and the Soviet Union soon became a leading center of physiology research. He died on February 27, 1936. Significant Contributions to Psychology Many outside of psychology may be surprised to learn that Pavlov was not a psychologist at all. Not only was he  not a psychologist; he reportedly disliked the field of psychology altogether. However, his work had a major influence on the field, particularly on the development of behaviorism. His discovery and research on reflexes influenced the growing behaviorist movement, and his work was often cited in John B. Watsons writings. Other researchers utilized Pavlovs work in the study of conditioning as a form of learning. His research also demonstrated techniques of studying reactions to the environment in an objective scientific method. Select Publications by Ivan Pavlov One of Pavlovs earliest publications was his 1902 text The Work of the Digestive Glands, which centered on his physiology research. Later works that focused on his discovery of classical conditioning include his 1927 book Conditioned Reflexes: An Investigation of the Physiological Activity of the Cerebral Cortex and Lectures on Conditioned Reflexes: Twenty-five Years of Objective Study of the High Nervous Activity (Behavior) of Animals which was published one year later. A Word From Verywell Ivan Pavlov may not have set out to change the face of psychology, but his work had a profound and lasting influence on the science of the mind and behavior. His discovery of classical conditioning helped establish the school of thought known as behaviorism. Thanks to the work of behavioral thinkers such as Watson and Skinner, behaviorism rose to be a dominant force within psychology during the first half of the twentieth century.

John Locke And Jean Jacques Rousseau - 1785 Words

John Locke and Jean-Jacques Rousseau were both Enlightenment thinkers concerned with the liberties of men. This concern, along with the fact they both believed all men are born into the state of natural equally, induced them to write works concerning a social contract between men. Locke and Rousseau discussed their ideas in the Two Treatises of Government and The Social Contract respectively. Their concerns about liberty in the state of nature led them to generate different accounts of the social contract because Locke’s belief that men form a society to protect their private property led him to believe the power should be placed in the commonwealth itself while Rousseau’s belief that men join a society for the communal benefit received led him to believe the power should be placed in the general will of the people. The differences in their views are evident in what they believe the best form of government is for a society and the citizen’s role in a society. Loc ke’s beliefs concerning private property led him to believe that a liberal monarchy is the best form of government for a society. Locke’s understanding of a political society is that men must agree to give up managing their own property, trusting the society will be able to protect the property. Upon joining a society, men must give up their property but will only do so â€Å"with the intention in every one the better to preserve himself his liberty and property† (Locke 353). Men are only willing to give up theirShow MoreRelatedJohn Locke And Jean Jacques Rousseau967 Words   |  4 Pagesindividuals would come together to form a society. Two philosophers, John Locke and Jean-Jacques Rousseau, give their respective opinions on what is the role and purpose of a â€Å"Social Contact’ in their works the â€Å"Second Treatise on Government† and â€Å"Of the Social Contract†. When defining the social contract in the â€Å"Second Treatise on Government†, Locke begins by addressing the state of nature. Similar to other philosophers of his time, Locke states his definition of the state of nature which he describesRead MoreJohn Locke And Jean Jacques Rousseau1270 Words   |  6 Pagesimplementation of a society in which all are guaranteed equal rights has never come to fruition. Through political treatise, formulated essay’s, and prototypical society s, many have attempted to recreate the works of famed philosophers: John Locke and Jean-Jacques Rousseau. Disagreeing regarding the innate goodness of humans, both understand that for a political society to function properly, humans must be given a society in which prosperity is the goal. Therefore, underlying the key theme that cooperationRead MoreJohn Locke And Jean Jacques Rousseau Essay1583 Words   |  7 Pageseconomics, goverments and laws. Dating back to 1588,Thomas Hobbes (1588-1679) Engl ish philosopher, conditional defender of monarchy as the source of civic order (Explorations, 2014).Three philosophers in particular being Thomas Hobbes, John Locke and Jean-Jacques Rousseau were the key thinkers within the philosophy of social justice, influencing the main idea of a social contract based on their theories, they suggest that the whole of society have been produced by a general social agreement, social contractRead MoreThe Writings Of John Locke And Jean Jacques Rousseau1596 Words   |  7 Pageswritings of John Locke and Jean Jacques Rousseau have had a significant impact on the controversy of what constitutes legitimate political power. They both believe in man’s natural mortality, and they also state that creating a social contract and legitimate government is necessary to avoid conflict. Both philosophers hold different perspectives and opinions, however they are both concerned with the same question: What renders exercises of a political power legitimate ? Rousseau and Locke have severalRead MoreA Summary Of John Locke And Jean-Jacques Rousseau1651 Words   |  7 Pagesthrough education† (Norris, 2017, slide 20). John Locke and Jean-Jacques Rousseau were two important philosophers of education who showed an actual respect for children and â€Å"wrote treaties that advocated more child-centered, natural approaches for the development and education of the young† (Platz Arellano, 2011, p.54). Although they differed on the nature vs nurture debate, some teaching methods and the education of girls, Locke and Rousseau did agree on many theories and their influenceRead MoreJohn Locke vs Jean-Jacques Rousseau.1663 Words   |  7 PagesJohn Locke and Jean-Jacques Rousseau are great political philosophers that have many similar insights about society and its political form. However, when closely examining the writings of these thinkers, one can easily discover many subtle differences among them. The two philosophers base their theories on different assumptions, which subsequently lead to dissimilar ideas about the origin of society and the constitution of governments. As a result, their views of the development of society greatlyRead MoreJean-Jacques Rousseau and John Locke: Their Relevance for American Society 1811 Words   |  7 PagesIn Second Treatise on Government and The Social Contract, John Locke and Jean-Jacques Rousseau each present and describe their own perceptions of what allows for equality, freedom and democracy. Of the many major ideas developed throughout these texts, the two main distinctions between the two philosophers are natural freedom versus civil freedom and individualism versus collectivism. John Locke, who provided the framework that would allow for liberal democracy, writes that in a state of nature,Read More Comparing John Locke, John Stuart Mill, and Jean-Jacques Rousseau2026 Words   |  9 PagesComparing John Locke, John Stuart Mill, and Jean-Jacques Rousseau John Locke, John Stuart Mill, and Jean-Jacques Rousseau all dealt with the issue of political freedom within a society. John Lockes â€Å"The Second Treatise of Government†, Mills â€Å"On Liberty†, and Rousseau’s â€Å"Discourse On The Origins of Inequality† are influential and compelling literary works which while outlining the conceptual framework of each thinker’s ideal state present divergent visions of the very nature of man and hisRead MoreThomas Hobbes, John Locke, And Jean-Jacques Rousseau All1781 Words   |  8 PagesThomas Hobbes, John Locke, and Jean-Jacques Rousseau all represent social contract theorists who were influenced by liberalism and the enlightenment respectively. They each offer varying takes and critiques of what exactly is the state of nature and from those discussions of the state of nature, they delve into what the state of government would be if it was born from that same state of nature. Hobbes, Locke, and Rousseau can each be compared and contrasted with one another based upon their own definitionRead MoreSocial Contract Hypothesis By John Locke And Jean Jacques Rousseau1723 Words   |  7 Pagesfull work and protection by Thomas Hobbes. After Hobbes, John Locke and Jean-Jacques Rousseau are the best known defenders of this tremendously powerful hypothesis, which has been a standout amongst the most prevailing speculations inside of good and political hypothesis all through the historical backdrop of the cutting edge West. In the twentieth century, moral and political hypothesis recovered philosophical force as a consequence of John Rawls Kantian adaptation of social contract hypothesis

Beauty Pageants - Free Essay Example

Sample details Pages: 4 Words: 1108 Downloads: 1 Date added: 2017/09/15 Category Advertising Essay Did you like this example? Beauty contests are popular in many parts of the world. The biggest, the Miss World competition, has been running annually since 1951, and although it is less popular in the UK now than it was in 1968, when it attracted 27. 5 million TV viewers, it attracts an enormous worldwide audience around 3 billion viewers in 115 countries. There are beauty contests for various categories of age, sex and sexuality; this topic focuses on adult women’s beauty contests as overwhelmingly the most popular and high-profile version. Note that there are difficult technical issues about running this debate: it probably works best as a values debate on whether beauty contests are a good thing or not, but this kind of comparison motion is frowned upon in some policy-based debating circles. Proposing a ban on beauty contests might be met with various entirely valid opposition lines on enforceability and warped priorities (what about porn? ), which would tend to undermine the point of the debate. Don’t waste time! Our writers will create an original "Beauty Pageants" essay for you Create order PRO: Beauty contests promote an ideal of female beauty to which only a minority of women can realistically aspire, but which adds to the pressure on all women to conform to it. This can be harmful to women by encouraging dieting, eating disorders and cosmetic surgery, or simply by making them feel inadequate and ugly. People enjoy beauty contests. Many women enjoy entering them. Many people enjoy watching them. Nobody is forced to do either. The beauty of a fit, healthy, well-proportioned human form is something from which we can all take pleasure, and beauty contests, along with other forms of art, are vehicles which enable us to do so. Women in beauty contests are judged on their physical appearance rather than on any other qualities they may possess (the existence of a ‘talent’ element in many such contests is all very well, but ugly women simply aren’t going to win). Judging women, but not men, primarily on their looks contributes to the subjugation of women because other qualities, such as intelligence, are not seen as part of ideal femininity and therefore not as things to which women should aspire. Ideal masculinity, while in itself potentially damaging to men, tends to be construed in much wider and less restrictive terms it is notable that male beauty contests, judging men on their physical appearance, are much less popular than female ones. There is nothing wrong with judging people rimarily on their physical prowess we do this all the time in competitive sport, where fitness and strength are major determinants of success. Every competition, of every kind, values certain qualities over others we recognize that being able to lift heavy weights isn’t the prime definition of human worth, but we can still give prizes for weightlifting; similarly, we can give a prize to a beautiful woman for her beauty without implying that beauty is a ll that matters about anyone. The image of female beauty promoted by beauty contests is culturally specific and western it doesn’t matter how many Asian women win Miss World, they can still only do so if they take part in the swimsuit competition, which may well not be considered appropriate dress in their culture. There were demonstrations against Miss World by feminists and Hindu nationalists when it was held in Bangalore in 1996. Riots in Kaduna in northern Nigeria over Miss World 2002 left more than 200 dead and led to the contest being moved to London. Beauty contests, like sport, can be an important focus of national or regional pride. Despite the declining popularity of competitions such as Miss World in the UK, they hold an important cultural place in many parts of the world. The victories in recent years of Miss India, Miss Turkey and Miss Nigeria in Miss World competitions made many Indians, Turks and Nigerians proud, and were seen as symbolic of those countries’ progress in competing with more powerful countries on their own terms. Beauty contests fail to challenge harmful political attitudes to women. Despite paying lip-service to feminist keywords such as empowerment and self-confidence, they do nothing concrete to aid the liberation of women; indeed, by reinforcing looks as the most important feminine quality, they harm women’s liberation in general. The fact that the organizers of Miss World 2002 had no problem with holding the contest in Nigeria at the same time as a high-profile case in which a woman was due to be stoned for adultery exposes the competition’s hypocrisy; it was only relocated after rioting made it unsafe to hold it in Nigeria. CONS: People enjoy beauty contests. Many women enjoy entering them. Many people enjoy watching them. Nobody is forced to do either. The beauty of a fit, healthy, well-proportioned human form is something from which we can all take pleasure, and beauty contests, along with other forms of art, are vehicles which enable us to do so. There is nothing wrong with judging people primarily on their physical prowess we do this all the time in competitive sport, where fitness and strength are major determinants of success. Every competition, of every kind, values certain qualities over others we recognise that being able to lift heavy weights isn’t the prime definition of human worth, but we can still give prizes for weightlifting; similarly, we can give a prize to a beautiful woman for her beauty without implying that beauty is all that matters about anyone. There is nothing wrong with judging people primarily on their physical prowess we do this all the time in competitive sport, where fitness and strength are major determinants of success. Every competition, of every kind, values certain qualities over others we recognize that being able to lift heavy weights isn’t the prime definition of human worth, but we can still give prizes for weightlifting; similarly, we can give a prize to a beautiful woman for her beauty without implying that beauty is all that matters about anyone. In a society in which women really are valued on the basis of their looks, and in which there really are fewer opportunities for women than for men, beauty contests give women a chance to get noticed and to improve their situations. Winning a beauty contest can be a route to success. Many Hollywood actresses, such as Halle Berry, Michelle Pfeiffer and Sharon Stone, are former beauty queens who simply would not have had the opportunities they have had without the beauty contests they won. In addition, the winners of high-profile beauty contests are able to publicise charities and causes they feel strongly about they have a public platform they could not otherwise have gained.

Taiwan Living Culture Free Essays

There is an issue comes up when Taiwan talks about culture conservation, which is the conflict between social development and preservation of military dependents’ villages. Taiwan is a place that lived by Holo, Hakka and indigenous peoples. Besides indigenous people, there are many mainlanders who came from mainland China. We will write a custom essay sample on Taiwan Living Culture or any similar topic only for you Order Now Those mainlanders came with Kuomintang government for political affairs that happened in China since 1940s. Hence, compare to indigenous people, military dependents’ villages, the places mainlanders were living, is actually a minor culture in Taiwan. Therefore, there are some difficulties for the culture-based workshops when they are trying to protect military dependents’ villages. There is lesser population who insist to protect their culture. Moreover, a number of residents were basically moved out from the villages. In this issue, we could study the issue with our cultural communication knowledge, especially identify the culture element that the issue brought by. Refer to the article title, preserving military dependents’ villages, the article is discussing about how the workshops trying to preserve military dependents’ villages and what are the concerns they are having. Since military dependents’ villages are minority culture in Taiwan, as well as they are not Taiwan’s local culture, we can understand how difficult the workshops’ tasks are. Hence, preserving military dependents’ villages is an issue. This issue was discussed recently. It was being studied since 1990s. We noticed that it was a trend of cultural discussion, which has no certainty beginning and ending. It is generally happened in Taiwan. Those active workshops were operating much in Kaohsiung and New Taipei City. There are some people who involved in this issue. First of all, there is a workshop called Association of Mainlander Taiwanese (AMT). It is formed in 2004. Yang Tsung-rong is one of board of directors of AMT. He is an Associate Professor at National Taiwan Normal University in Taipei too. He said that the workshop recently focuses on conserving the unique villages. The second involved party is Ministry of National Defense (MND). The land of dependents’ villages belongs to MND. There is a law named Act for Rebuilding Old Quarters. It assures MND to have right of demolish the village after the military dependents moved out. They will rebuild new apartments for military dependents. Sometimes, they sold the apartments in accordance with National Property Act to fund the construction of apartments. The third party is Lin Fung-ching, who is a deputy chief executive of Kaohsiung Military Dependents’ Villages Culture Development Association. The workshop was formed in 2007 and operates the Kaohsiung Museum of Military Dependents’ Villages. She agreed that less-is-more strategy which means preserving a limited number of the housing areas is sufficient. She understood the government’s concern since preserving all 888 villages is a challenge of local development. Nevertheless, she stated that preserving old buildings in a village is not enough. The fourth person is Wang He-ping, who is another chief executive of the Kaohsiung workshop. He supports the preservation idea and aims to preserve Mingde New Village, Zuoying District as a â€Å"living museum† that would see villagers continue to live in the village. Visitors can move into vacant houses to feel their day life culture. He enhanced that preserving the villages is promoting â€Å"green belt† concept. It would add to Kaohsiung’s tourism resources. He said that dependents’ villages are a minority culture, but they are not a minor part of Taiwan’s culture. Wang Ji-xin is the fifth person who involved in this issue. He is a founding board member of the New Taipei City Military Dependents’ Villages Culture Association which formed by year 2007. The association is to preserve approximately 60 houses of Sanchong First Village. He is a former resident of the village too. He mentioned that bulldozers will also remove an irretrievable piece of Taiwan’s pluralistic culture. Sanchong First Village’s residents had move out and into purpose-built apartment buildings in New Taipei City by 2006. They could only make oral histories instead of make a living museum as Mingde does. Basically, Taiwan is a place that highly appreciates traditional culture. At first, they believed and followed the Chinese culture. Since 1990s, Taiwan started to focus on local culture. They appreciate Holo, Hakka and indigenous groups. Even Ministry of Education introduced the program called â€Å"Knowing Taiwan† which focused Taiwan’s history, geography and society instead of centered on mainland China. As the article mentioned, mainlanders who came to Taiwan with Kuomintang government had been allocated in certain places. They thought that staying in Taiwan was temporary plan. However, the dream of â€Å"retaking mainland† faded and the mainlanders had to stay in Taiwan. According to government’s arrangement in 1980s, 90% of 110,000 households recorded in 1984, the dependents of mainlanders, who were military’s families, have left the villages. Nevertheless, some workshops tried to request to preserve the villages for culture conservation. At last, we found that the workshops perform so well which fight for their culture yet do not ignore the social development. What we learnt in communication and culture, we have no problem to agree that living lifestyle is one of culture definition’s elements. There is a set of pattern preserved and shared human activities among a social group from generations to generations. In this article, the dependents’ villages are recognized culture of what we learnt in class. The military dependents’ villages were brought by mainlanders from mainland of China. They brought their families to Taiwan as well. Hence, they started practice their normal life in Taiwan generations by generations. Moreover, there are pictures of their culture proof. For the first page, we can see a big house built at Mingde New Village in Kaohsiung. It is for higher-ranking officers. The second page has 5 photos. The top one is the narrow alleys in the military dependents’ village. The photo below it shows the mandarin words which means â€Å"Be calm amid confusion†. It would be probably the residents’ value oriented. The other two photos that wrote mandarin words, â€Å"One year to get ready, two years to recapture, three years to clean up and five years to finish the job†. The military has the purpose on recapture the mainland of China when they came to Taiwan. On the following page, there is a photo of some apartments. They are the new apartment buildings for military families such as these in Kaohsiung’s Zuoying District. We noticed that the villages’ culture had been gone. The other photo in this page shows the military dependents villages’ cultural festival in New Taipei City. The fifth page showed the military uniforms and identity cards at the Kaohsiung Museum of military dependents’ villages. The last page showed the selection of dishes at a Kaohsiung military dependents villages’ food festival in 2011 and a well-preserved living room at Sanchong First Village in New Taipei City. All of them are significant culture. This issue is quite similar to Malaysia’s not to demolish Jalan Sultan case. We noticed that culture preservation is important, especially the historical buildings. We understand social development is important too yet there are some ways to avoid from demolishing cultural buildings. As the photo we saw in fourth page, the original outlook and environment was gone after the rebuilding. It will be happened in Jalan Sultan if we do not fight for the preservation of culture. It is sad if we lost our significant culture on our land. Therefore, we should appreciate our culture and think the other ways to avoid from demolishing our significant culture. For example, Melaka had preserved those culture buildings and items. They then become elements of tourism and improving our national incomes. Hence, we should think twice before we made the cruel decision of demolishing some precious and valuable cultures. How to cite Taiwan Living Culture, Papers

Undecided Audience Outcome free essay sample

How can a reader use the rhetorical situation to analyze an argument essay? The targeted readers are other students who have had or could have similar experiences. The author expects the students to identify with him and agree that such policies should be abolished. Other readers might include professors and administrators who would probably be less likely to agree with the author how a viewer cans use the rhetorical situation to analyze an image? The targeted viewers are people in the United States, but also in other parts of the world, who read this newspaper either online or in print. The photographer expects the audience to be interested in what is going on in Haiti in general, but also to show an interest in natural disasters of this sort. The photograph would expect a sympathetic audience who shares his humanitarian values. How can a writer use the rhetorical situation during the planning phase of writing a paper? As a writer you can use the rhetorical situation to help you think critically and make decisions about your own writing. We will write a custom essay sample on Undecided Audience Outcome or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 3. Why is the audience important in argument? T0 help give critical opinions what types of positions might an audience initially hold? A friendly audience, an undecided audience, a neutral audience, a hostile resistant audience an unfamiliar audience a linked audience. What possible outcomes are associated with arguments directed to each of these audiences the planned outcome is to confirm these audiences’ beliefs and strengthen their commitment. An undecided audience outcome can have final agreement with you anew interest in the issue and a commitment to work out a position on it. . What is discourse community? Audience’s affiliations. To what discourse communities do you belong? None how does a discourse community help establish common ground for its members? Monthly meetings 5. What is the universal audience? One who agrees on everything? What are the special qualities of the audience? There is none Why is it a useful idea? I didn’t find anything on this.

Construction surety contract bond underwriting risk evaluation

Introduction Finance has been the subject of global market confusion and unremitting controversies with matters of greater public and private concern facing unending challenges due to incompetent policies and regulations governing financial affairs.Advertising We will write a custom thesis sample on Construction surety contract bond underwriting risk evaluation specifically for you for only $16.05 $11/page Learn More The unprecedented hard economic epoch of the recent decades has hit the financial market, thus affecting operations of numerous companies globally through constantly augmenting defaults and losses (Ramsey 43). Generally, one of the worldwide industries that have constantly suffered from financial crises and the related risks is the global construction industry where million of losses occur not only from the economic circumstances, but also due to unrelenting misfortunes that mar industrial growth. In a bid to protect contractors from the ris ing financial risks that have become more eminent in the current decades, financial institutions are becoming proactive in providing risk transfer mechanisms in the form of surety. Despite decades of surety guarantees by corporations in the United States, little remains known to the public about surety. Therefore, this study explores construction surety bond underwriting risk evaluation. Synopsis of a construction surety contract The financial business world has grown exponentially for decades and become the most responsive industry that constantly provides substantial aid to other industries on risk related affairs. By operating slightly akin to the insurance firms, corporate sureties have emerged stronger in supporting risk related industries including the construction companies by providing surety bonds. In simple terms as defined by CNA Surety, â€Å"surety bonds are three party instruments by which one party guarantees or promises a second party the successful performance of a third party† (1). These three parties or principles involved in the surety bonding include a surety (any financial institution), a principal (contractor) and an Obligee (owner) (Seifert 47). Surety bonds involved in construction or bonding construction companies are contract surety bonds. Obviously, construction is a challenging and risky business that possibly can result into huge losses to constructors and owners is not well handled. Construction surety bonds typically prevent owners from financial and resource related risks that likely occur during project construction.Advertising Looking for thesis on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In its broadest understanding, construction surety bonds normally provide assurance to Obligee or project owners that contractors are capable of performing or completing the project on due time, within the stipulated budget and in the desired design requirements (McI ntyre and Strischek 30). On the same note, construction surety bonds are capable of assuring the venture owners that the contractor will complete the project and pay all the specified subcontractors, material suppliers and manual workers as expected (McIntyre and Strischek 30). Research has identified three common forms of construction surety bonds namely bid bonds, performance bonds and the payment bonds that are common in a large construction spectrum. A bid bond is a construction surety bond that provides financial assurance that the contract is for good will, in desired price and required performance and payment bonds. Performance bond provides â€Å"the owner with protection against financial loss in a circumstance where contractor fails to complete the project and meet terms and conditions of the contract., while payment bond ensure that the constructor makes all payments to suppliers, subcontractors and laborers† (Jenkins and Andrew 2). Background to the U.S. construct ion surety industry Perhaps the United States stands out to be among the most advanced countries that have integrated systems to protect innocent civilians from malicious service providers, including malevolent project managers and contractors. The U.S. construction surety industry has expanded exponentially in the current decades and its history and background is long, and its fate has been a mixture of success and failure (McIntyre and Strischek 31). The U.S construction surety industry premiered centuries ago and financial corporations have been offering surety bonds for quite a while, before the government decided to intervene as a service-consumer protection intervention.Advertising We will write a custom thesis sample on Construction surety contract bond underwriting risk evaluation specifically for you for only $16.05 $11/page Learn More According to Surety Information Office (1), the year 1893 saw the U.S government, through Miller Act Section 2 70a, placing a legal mandate to all contactors on public works contracts to acquire surety bonds that guaranteed their constancy in undertaking projects and masking dully payments to all subcontractors and suppliers on project completion. The importance of getting into construction agreements and contracts began at this moment. By the U.S. Government imposing Miller act, one significant issue emerged from this rule. According to Surety Information Office (1), â€Å"the Miller Act (40 U.S.C. Section 270a) requires performance and payment bonds for all public work contracts in excess of $100,000 and payment protection, with payment bonds the preferred method, for contracts in excess of $25,000.† In subsequent moments, approximately fifty American States, including Puerto Rico and District of Columbia began enacting this act. Since this enactment, corporate financial institutions initiated massive campaigns of attracting contractors in such business activities by making the sure ty industry quite a competitive sector throughout 1990s when the American economy thrived. Under the strong economy, the contractors remained busy and with minimal failures until the entire world began experiencing economic crunches. Unfortunately, the profitable bonding business became more overwhelming and centered attention for new entrants into surety leading to excess and gratuitous competition within the surety industry that has finally remained shaky 2000 due to high-profile corporate failures. Principles of Premiums and losses While trying to understand underwriting of surety bonds in the construction industry, premiums and losses are two financial terminologies associated with underwriting of surety bonds. The U.S surety bonds, similar to the insurances, have premium and loss terminologies, which represent certain fees. Unlike the insurance premium, surety premium refers to service fee or service charge determined based on anticipated losses (Grovenstein et al. 356). Losses are unforeseen financial risks that may result from contractors failing to complete the project as per expectations, or even other uncertainties related to project construction.Advertising Looking for thesis on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the case where the surety industry considers risks from the construction company are unpleasant, the financial institution, which is normally the surety, may have to deem a number of alternatives. According to contract bonding principles, McIntyre and Strischek affirm that some of the alternative that assists in minimizing loss chances in sureties is raising premium charges, raising deductibles, reducing bond coverage, intensify underwriting standards or even quite completely from the bonding deal (30).. Perceived significance of surety contract bonding Since the advent of surety contracting and bonding into the U.S federal public works, much has protracted that has led to surveyors considering the imperativeness of surety contract bond underwriting. Surety bonding is a process that involves risk sharing through a business-integrated program that involves several mutual terms and conditions for all the three parties involved (Jenkins and Andrew 1). In actuality, there is no bette r or rather practical alternative of defending the private and the public against financial loss. On the other hand, financial institutions depend on public and private sectors to generate revenues for their survival. Surety bonding on construction favors all the three principals in the contracting deal (Dunn and Sedgwick 15). For the owner, protection from financial loss, safety of the construction and smooth progress of the project is what becomes major benefits in due completion of the project (Ramsey 42). Three contract surety bonds have been supportive in assisting Obligee in undertaking their projects successfully b considering the success of the bonding. The owner believes that the bid bond, the performance bond and the payment bond are core movers to the success of the project. McIntyre and Strischek assert, â€Å"Surety bonds assure project owners that contractors will perform the work and pay specified subcontractors, laborers, and material suppliers in accordance with th e contract documents† (30). The contractors (principals) also rely on the surety contract bond underwriting in a number of ways that may deem significant while undertaking their contracting process. During the underwriting process, the contractor feels assured of owner’s cooperation in terms of payment as cases of exploiting contractors seem outdated since the financial institutions scrutinizes owners financial capacity comprehensively. Since the surety corporations have the financial stamina to cover any improprieties resulting from Obligee, the contractor feels assured of getting all the stated pay (Dunn and Sedgwick 15). The surety or the guarantors who are large financial institutions normally receive a financial benefit and commercial reputation over the surety industry since premiums have the potential of chaining the corporate improvement of the firms. Essential information for underwriting a contract bond Underwriting a contract bond has been a quandary for the three parties, with both of them having worries over the successfulness of bonding and the fate of the project under construction. As noted by Glaser, Piskorski, and Tchistyi â€Å"mortgage underwriters face a dilemma: either to implement high underwriting standards and underwrite only high quality mortgages or relax underwriting standards in order to save on expenses† (186). All parties involved in undertaking the contract bonding must observe several parameters before concluding on ways to undertake the surety bonding. During the process, the corporate sureties are normally at higher risks since they are responsible for monitoring and assessing the capabilities of the two parties in the contract bonding (Sacks and Ignacio 46). Nonetheless, it is worthwhile that all the three principles consider seeking legal advice and embedding their bonding procedures through legal frameworks that likely reduces chances of uncertainties. The two (principals and surety) with their underwri ters and producers have the accountability to oversee all the procedures of the contracting process. What contractors and their producers must know Subsequent to a comprehensive coverage of all conditions, terms and procedure of signing the contract bonds, a greater responsibility rests upon the contractor companies and the surety companies as the owner waits in anticipation. As the surety depends on surety company underwriter to undertake a follow up on the contract and plan, the contractor company relies on the producer, who forms part contractor’s external advisory group. The producer is one of the integral players in the contractor’s advisory team and to avoid performance-related risks that may hamper completion of the contract the producer plays an important part. The contractors company must consider the following qualifications from the producer: the producer must be familiar with the local, provincial and national conditions and trends within the surety market. In addition, Ramsey (42) asserts that the producer must posses accounting and finance knowledge, respect and a reputation for integrity, knowledge of the contract law and their documents, substantial experience in management practices and strategic planning among other fundamental aspects. They must understand that the contracting business involving construction company is quite challenging and with numerous uncertainties. For any successful contracting company, understanding of business risks is imperative and this aspect aids in evaluating and assessing the kind of contract bonding that firms associate with during their operations. As suggested by Ramsey, â€Å"taking any and every job available is not a wise strategy† (44). A construction company must understand all the uncertainties including external construction risks as weather, natural hazards, material prices, or supplier’s inconveniences and owner’s-related risks, as well as internal risk like equipme nt failures, staff problems and capital fluctuations. This move is normally the best way of evaluating and managing their risks since it enlightens the company on the genuine projects to pursue and the contract bonds to sign. According to Fayek and Marsh (3764), the contractors must also rely on a sustainable legal expertise team that scrutinizes the owner’s financial potency, as it is normally a challenge for contractors to access data pertaining to owners financial and banking secrets that sureties have. What surety and their underwriters must consider In the context of undertaking the construction bonding process, the sureties that involve corporate financial institutions are the core movers and principals of contract bonding. Apart from the main surety in the bonding process, two actors as mentioned earlier are important in the process of surety contract bond underwriting: an underwriter and a producer, who form part of the entire process (Stevens 440). An underwriter is a professional who works directly for the surety company that has offered to provide bond and undertake the obligation. After a successful collection of the necessary information pertaining to the contract, the bond producer presents the information to the surety company underwriter, who is responsible for making a follow up of the plan for the surety company (Ramsey 44). The underwriter is the most integral person in the advisory team of the surety company. Ramsey) asserts, â€Å"The surety bond producer works with the surety company’s underwriter to ensure that the contractor is bondable and capable of performing the work and paying all parties† (44). In the context of underwriter’s duties, the following are the primary activities undertaken in underwriting by the surety company underwriter. Firstly, the underwriter has the accountability to determine if the contractor possesses the financial potency to support the contract all through. Secondly, the surety co mpany underwriter ensures that the contractor has a positive historical record of paying subcontractors and suppliers immediately (Ramsey 44). Finally, the surety company underwriter ensures that the contractor possesses a good rapport with the banks and other financial institutions. In simplest financial terms, underwriting standards of nowadays surety market emphasize on three important Cs representing capitals, capacity and character in the underwriting process and in understanding the contractor’s business. Since a surety bond acts as a bank credit in several ways, it is important for contractors to have a good reputation since contractors have a challenge of accessing debt capital (Seifert 49). The underwriter also peruses through the contractor’s fiscal year-end statements including balance sheets, cash flow statements, and income statements among others. The table below summarizes the contractor evaluation criterion. (Source: Fayek and Marsh 3766) Project speci fic risk factors affecting contract bond underwriting While trying to engage in the surety contract bonding and agreeing to the terms and conditions governing construction under contracts, the three parties especially the contractor in this case must understand the risks associated with contract bond underwriting. This element explains the reason why the bond producer is an integral actor in the surety contract bond underwriting process in defense of the contractor as this professional recommends an accountability line of consistency regarding the contractor’s competence. Two important forms of risks have been in constant discussions over the existence years of surety industry and contractor’s business, and these are project-specific related factors and performance-related risk factors. To begin with, a construction industry is a challenging field of professionalism as it associates with numerous risks (Cummins 28). As guarantors are currently targeting mega contractor s with large cumulative programs that are highly perilous, risk in itself is a unique issue and very few constructions complete successfully without encountering jeopardy. As postulated earlier, the underwriter examines the capital, capacity, and character of the contractor; nonetheless, the forth c has emerged in the recent studies that denote continuity. The continuity in the case of construction may remain hampered by uncertainties. Project specific risk factors are precarious issues that associate with the project itself and contractors are normally unaware of the unforeseen uncertainties. The project owners will always deem a project successful if the contractor manages to complete it within the stipulated time, designed budget and all other requirements (Grovenstein et al. 159). Project-specific related risk factors may involve natural catastrophes, delays in the supply chain or material deficiency, change in the material prices or even owners lack of cooperation. This aspect explains the reason behind the existence of payment bond that ensures that the owner’s project continues despite the failure of the contractor in paying sub-contractors, laborers, and suppliers (Vedenov, Epperson, and Barnett 450). Project-related risk factors, especially natural ones have been the most challenging to control in the surety bonding. Performance-related risk factors affecting contract bond underwriting Performance related risk factors are uncertainties affiliating with the incapability of contractors to complete the desired project in the requirements highlighted in the contract bonding agreement (Strischek 31). Within the tripartite bond agreement, the caution and worry here is upon the owner of the project under construction and more worse to the surety company. Some contractor’s performance faith has been questionable within the public and to ensure that contracts have remained successful through surety contract bond underwriting, the performance bond emerged (Seifert 48). While trying to understand the concept of performance related risk factors in the contracting process, management practices and strategic planning as contractor evaluation criterion emerged from this point. Performance in the context of surety contract bond underwriting refers to the contractor’s aptitude in completing the agreed project. Some of the common performance related factors may include the contractor’s management delinquency, poor or lack of business planning, lack of contract performance frameworks, project complexity as well as obstructing company philosophies and procedures, most of which are avoidable. How to make an appropriate bond underwriting decision The appropriateness and successfulness of any bond underwriting between the three parties depends on a number of issues that surety companies must always consider before making a decision into the bonding. â€Å"Sureties and bankers have much in common. McIntyre and Strischek pos tulate, â€Å"Both industries underwrite risk to contractors, and both have enjoyed the good time profits of the cycle’s expansion phase and suffered the losses during its contraction phase† (36). Therefore, analyzing risks involved in contract bonding becomes important. However, in certain circumstances, financial organizations have found themselves into the traps of fraudster and money swindlers who pretend to be contractors from reputable companies, leading to serious financial losses (Glaser, Piskorski, and Tchistyi 188). Despite the fact that there are very few decision-support models existing among financial institutions that are sureties and this aspect has resulted into numerous problems concerning contract bond underwriting (Stevens 456). As postulated earlier, corporate sureties should use a number of procedures in determining the probability of having attractive returns from a contract. Before making a decision to engage in any contract bonding practice with the other two parties, viz. the project owner and the contractor, numerous things appear significant for consideration. Before anything else, the financial institution must scrutinize owner’s financial capacity including his/her willingness to pay all expenses incurred in the project and his/her previous behavior with the bank or surety (Ramsey 44). In the beginning of the initial phase, the company must consider hiring or employing a competitive underwriter with appropriate knowledge in all forms of surety conditions, who will deal confidently with the contractor’s producer to avoid incurring financial losses. Bearing in mind that the financial institution will be taking all the liabilities and obligations for the owner, a legal advisory team must prevail to provide information and make all follow ups of the required legal procedures while undertaking the construction bonding (Grovenstein et al. 359). The financial organization must acquire proper background knowledg e and assess the previous character of the contractor on the earlier contracts and agreements. All documents concerning the contractor’s latest fiscal year-end statements must exist in this assessment to provide assurance that the contractor has been loyally paying all sub-contractors, laborers, and suppliers within the slated time. The financial institution, which is the corporate surety, must ensure that the underwriter assess â€Å"the contractor’s latest fiscal year-end statements by examining the accountants’ opinion to review the audit or compilations† (Ramsey 45). They should also assess balance sheet to evaluate the working capital, income statements to estimate gross profits from previous contracts as well as cash statements to appraise operating cash flow among other important construction bonding documents before deciding on the bond agreements (Seifert 49). On finalizing, the surety company underwriter must also consider analyzing the possible risk factors associated with the bonding and ensure they depend on a decision support model in their making their final agreement on the contract. Conclusion Conclusively, there has been substantial literature existing concerning surety bonding in the construction industry yet understanding important procedures in the construction bonding process has been a challenge. Surety companies are the most parties that are at a greater risk of failing in the surety bonding if proper securitization of the owner and the contractor’s intentions in the bonding deal are unknown. Sureties with successful transfer of construction risk have always considered the attractiveness of the risk transfers. Companies engaging in surety bonding normally target the jumbo rates in the premiums, which normally come from seriously risky ventures, and if proper caution lacks in making the appropriate decision in the bonding process, the sureties may be putting themselves into great financial uncertainties . Works Cited CNA Surety 2005, Surety ship: A practical guide to Surety Bonding. Web. Cummins, David. â€Å"Cat bonds and other risk-linked securities: state of the market and recent developments.† Risk Management and Insurance Review 11.1(2008): 23-47. Print. Dunn, Jonathan, Irvine Sedgwick. â€Å"Letters of Credit, Bonding, Guarantees and Default Insurance: Hedging Bets in a Roller-Coaster Market.† American Bar Association 15.2 (2013): 1-17. Print. Fayek, Aminah, and Krista Marsh. â€Å"A decision-making model for surety underwriters in the construction industry based on fuzzy expert systems.† Journal of Construction Engineering and Management 1.1 (2006): 3763-3772. Print. Glaser, Barney, Tomasz Piskorski, and Alexei Tchistyi. â€Å"Optimal securitization with moral hazard.† Journal of Financial Economics 104.2 (2012):186–202. Print. Grovenstein, Robert, Francis Sirmans, John Harding, Sansanee Thebpanya, Geoffrey Turnbull. â€Å"Commercial mortg age underwriting: How well do lenders manage the risks.† Journal of Housing Economics 14.2 (2005): 355–383. Print. Jenkins, Robert, and Wallace Andrew 2005, Construction Bonds: What Every Contractor and Owner Should Know. Web. McIntyre, Marla, and Dev Strischek. â€Å"Surety bonding in today’s construction market: changing times for contractors, bankers, and sureties.† The RMA Journal 87.8 (2005): 30-36. Print. Ramsey, Marc. â€Å"Surety Bond Producers and Underwriters.† The RMA Journal 91.8 (2009): 42-45. Print. Sacks, Arianna, and Correa Ignacio. â€Å"Underwriting: The Harvard Student Journal of Real Estate.† The Harvard student journal of real estate 1.1 (2011): 1-116. Print. Seifert, Bryan. â€Å"Sustainable Buildings and the Surety.† Real Estate Issues 33.3 (2008): 47-52. Print. Stevens, Glenn. â€Å"Evaluation of Underwriter Proposals for Negotiated Municipal Bond Offerings.† Public Administration Management: An Interact ive Journal 4.4 (1999): 435-468. Print. Strischek, Dev. â€Å"Underwriting and Monitoring Consideration in Lending to Contractors Today.† The RMA Journal 86.10 (2004):31-32. Print. Surety Information Office. n.d. 10 Things You Should Know About Surety Bonds. PDF file. Web. Vedenov, Dmitry, James Epperson, and Barry Barnett. â€Å"Designing Catastrophe Bonds to Securitize Systemic Risks in Agriculture: The Case of Georgia Cotton.† Journal of Agricultural and Resource Economics 31.2 (2006): 318-338. Print. This thesis on Construction surety contract bond underwriting risk evaluation was written and submitted by user Sonia Sutton to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Huck Finns Different Traits essays

Huck Finns Different Traits essays Huckleberry Finn is a novel by Mark Twain, which is a story of life through the eyes of a young boy named Huck. The book embodies the maturation of Huck through his character traits. In the novel, Huck displays the traits of being adventurous, The most obvious trait portrayed by Huck was his adventurous attitude. He shows his bent for adventure in many different situations. When Huck said, "there's a nigger here that I'm trying to steal out of slavery", he showed this trait(227). The book as a whole could be called an adventure, and has been by many critics. Huck's adventurous attitude gets him into trouble, causes many climactic but also gets him out of a lot of trouble. Huck also displays sympathy in the novel. He shows his sympathy primarly to Jim throughout the novel. He shows sympathy when the robbers were on the boat and Huck sends help to them. Even though the section about the robbers was an anecdote to move the story along it shows Hucks sympathy towards others.He tells the daughter of the dead father that the king and the duke are trying to a con, "I got to tell you the truth. These uncles of yourn ain't no uncles at all - they're a couple of frauds."(188). The situation with the daughter showed a great amount of sympathy because Huck had a lot to gain if he kept his mouth shut, but instead he showed sympathy. Huck shows patience many times when it comes to The King and The Duke. He puts up with their antics for a long time, even though they sometimes got him in trouble. Also, when Huck was living with "Pap" he waited for days in order to obtain a good time to escape. When he was waiting he showed extreme patience because "Pap" was "[getting] too handy with his hick'ry" through the whole time(63). Because of the fact that beating Huck was Pap's forte there are not many oth ...