Derivatives And Risk Management Essay Example | Topics and Well Written Essays - 2750 words

Derivatives And Risk Management - Essay Example Risk management is the process of identifying, understanding, analysing, accepting, or mitigating risk. Risk management can be divided into two main processes, determining the level of risk exposure in an investment and then handling that risk in the best way possible in line with the objectives of the investment (George, 2012, pp.34-38). The risk of financial exposure affects all organisations, both directly and indirectly. Though financial exposure presents the opportunity for loss, it may also present strategic benefits for making profits. The financial losses of a company arise from three main sources. The first source of risk is a company’s exposure to changes in the market prices of commodities (Philippe, 2001, pp.23-25). Second is through actions and transactions of third parties such as creditors and counterparties to derivative transactions, and finally are financial risks occurring from the internal failures of the organisation, people, or processes. Financial risk arises from countless transactions of a financial nature which an organization engages in such as purchases, investments, and loans repayments. If financial prices rise, there is the possibility that the company makes financial losses (Philippe, 2001, pp.3-6). ... Financial risk management usually involves the use of derivatives which are traded widely among financial market players. A derivative is a security whose price is derived from one or more other assets. It is just a contract between two parties specifying conditions under which payments will be made in future between the two parties. Examples of derivatives are options, futures, forwards, and swaps. In the past, diversification was the main way of financial risk management but has now been overrun by the availability of derivatives in most markets which makes it possible for both corporate as well as individual investors to manage risks (Whittaker, 2009, p.19). This paper will analyse the concept of hedging in financial risk management, the best hedging strategies, swaps, and options as they are used in risk management. 2.0 Hedging Vs. Speculation The management of risks involves the use of derivatives. Derivatives in financial risk management refer to securities whose value depends on the value of the underlying asset. Among the kinds of derivatives that exist in financial market includes futures, forward contracts, option, and swaps (Smith & Stulz, 2009, pp.267-284). The underlying assets whose values the derivatives depend on are stocks, bonds, interest rate, foreign exchange instruments, and even commodities. The respective derivatives for these assets are stock options, interest rates futures, currency futures, bond options, and commodity futures. Hedging is the strategy that is used when managing the risk of the underlying asset using derivatives (Nance, et al, 1993, pp.267-284). In financial markets, a hedge can be referred to as an investment position whose purpose is to offset a potential future

LOVE Response papers week 7-- research Assignment

LOVE Response papers week 7-- research - Assignment Example Single-subject research design focuses on the behaviour of an individual subject tested over treatment variables. By focusing on the behaviour of the individual subjects better identification of potential sources of error and to control errors is an advantage (Francis, 2011, p. 387). It is a design that can be applied when the sample size is one or when a number of individuals are considered as one group (Wasson, 2003). Therefore causal relationship between variables is established even using one or little group and it provides a good demonstration that a variable has an effect on behaviour being observed (Francis, 2011, p. 387). On the contrary, generality is questionable when using a single subject design since experimental situation is tightly controlled to reduce error variance. Plus the fact that some variables cannot be easily controlled especially variables that are innate in person, such as personality and intelligence that cannot be easily controlled and may affect the result of the study remarkably (Francis, 2011, p. 388). With the proper knowledge on the use of a single-subject design, a sample research question can be formulated as â€Å"Effect of positive reinforcement in work performance.† By using the ABAB design, control condition is followed by an experimental condition, which is followed by an additional control condition and experimental condition (Wasson, 2003). In the sample research question, baseline work performance phase is the pre-experimental phase which will be recorded and will be taken as the control condition followed by the implementation of the positive reinforcement as the experimental condition then by another control condition and another experimental condition which is the reinforcement phase. In which all behaviour in all situations, controlled and experimental, will be observed and recorded for analysis. The formulated single subject-research has the definite possibility of attaining a good

List routines and procedures to be used in and out of the classroom Essay

List routines and procedures to be used in and out of the classroom - Essay Example (Emmer 2003) Beginning of the day. When the bell rings students have to enter classroom under the direction of elementary teacher. They are entering by way of the door that is assigned to their class. Routines in the beginning of the day can be different, for example, students can create a crossword puzzle using key classroom rules as a clue or they can create different word puzzles that will contain hidden messages for each student. But the most interesting routine will be getting acquainted with rules and other students. The procedure is rather simple. It will allow students to become familiar with main policies, rules and their classmates. Such routine is useful for students to get know each other better. And finally it will help in finding out shy students or such who don’t want to interact. A procedure embraces three simple steps: Transition between activities. Students have to be prepared for transitions between activities. Visual supports may help students to see that the activity is ending and it is time for another activity. Verbal warnings and cues may be also used as a signal to transition. Transitions are easier is they are essential part of class routine. If students are with special needs experience fewer behavioral problems if they are taught transition. Children will move from activity to another with more confidence. Possible routines can be visual cues (social stories, flicking light, visual schedules, using pictures, etc.). A procedure will be the next: Field trip. Field trip is the extension of school curriculum and school day. All school rules affect field trip. The weather for field trip must be clear and all events have to be planned for the early summer or late spring. Students have to prepare meals and to clean up. The routine is to observe the greatest number of insects and to learn something new about them. Students must have notebooks, collecting equipment and field guides. Such activity will be interesting for children,

Cognitive Psychology Essay Example for Free

Cognitive Psychology Essay Cognitive Psychology is the study of how people absorb, process and store information. It is considered as a discipline in dealing with other fields like science, philosophy and language. Perception, thinking, attention, memory, decision Making and Problem Solving ability are some factors that determine this field of psychology. This field serves as an aid in making educational curriculum and other software designs needed for learning. Studying this field focuses on human information processing.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Internal mental state is the focus of cognitive psychology. People who focuses on this field merely studies how to understand, trace and find cure to serious problems relating to mental health. There are 7 themes associated with Cognitive Psychology: Attention, Automatic and conscious processing, Data driven and conceptually driven processing, Knowledge representation, Metacognition, Unconscious processing and Levels of analysis in cognitive science (Pritchard, 2000).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   One discipline involved in this field is that cognitive psychology is said to be different from neuroscience because it discusses information processing at a software level. The primary method used is through experimentation on human subjects. Wilhelm Wundt is one remarkable cognitive psychologist who established his first laboratory in 1879. His study focuses on conscious experience (Pritchard, 2000). â€Å"Wundt did experiments involving introspection. Introspection is self-examination of the mind, or conscious experience. Wundt asked subjects to introspect about the feelings and sensations they had in response to a physical stimulus† (Pritchard, 2000). His perseverance on studying cognitive psychology made him consider this subject as a formal academic discipline.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Through further studies and continuous search for developing this field, Wundt was able to train another psychologist like him in the person of Edward Titchener. â€Å"Titchener tried to determine the contents of the mind further (Pritchard, 2000). Structuralism was discovered by him where he was able to determine the elements of thought and how those elements were   combined.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another fundamental of cognitive psychology is Herman Ebbinghaus discovery during the late 19th century. â€Å"Ebbinghaus used nonsense syllables to study memory in a quantifiable manner. Nonsense syllables are CVCs, consonant- vowel-consonant trigrams. Ebbinghaus chose those as his subject matter, because he wanted to study memory in a pure form. Hence, he did not want to use items that already had some meaning attached to them. Ebbinghaus demonstrated effects of interference, practice time and forgetting† (Pritchard, 2000).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another proponent is Edward Tolman who was famous because of his work that centered around animals who demonstrates behaviors based on expectations and internal factors. The importance of his study on cognitive psychology is about memorization. He made experiment on rats by putting them in a maze after they were trained. The rats reached the goal point without going to the learned place. This supported the notion that they had created a cognitive map.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Behavior on the other hand is relevant to cognitive psychology because this is where the processed information appears. The effect of consciousness is determined by the outcome through a persons behavior. â€Å"Wundt and Titchener were aware of the subjectivity of consciousness, but they still believed that consciousness could be studied†(Pritchard, 2000). Behavior is said to be objective and not subjective. The universal laws of behavior can be determined through psychology because all living things are subject to experimentation of why they come up with such results.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Cognitive psychology and behaviorism goes hand in hand because there are certain aspects that cannot be determined by one field alone. Behaviorism is seen through actions while cognitive deals with information processing. â€Å"Because of behaviorisms emphasis on the observable there were some things that they just didnt talk about. Memory, language, and other mental activities would not be discussed by behaviorists. At least they wouldnt be discussed as we would discuss them, with reference to mental events and thoughts that are unobservable by other people. They tried to explain these phenomenon by constructing theories involving biological drives and habits† (Pritchard, 2000).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Although there are some arguments relating to behavior and cognitive psychology, since there are claims that Mental processes were considered habits that   were not connected to the brain, still Cognitive psychology diminishes the confusions as to why human come up with that action. There are interacting determinants between behavior and cognitive psychology. Through these field people learn that as a discipline, cognitive psychology is developed to bridge the gap between behaviorism and cognitive social psychology. Tracing the development of cognitive psychology, it developed mainly from Behavioral psychology because through observations and critical thinking, cognitive psychologist learn to investigate more about information processing. References Pritchard, Evan (2000) Attention and Memory Chapter 1 How Cognitive Psychology   Ã‚  Ã‚  Ã‚   Developed. An article about Cognitive Psychology from the winnipeg website.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Retrieved March 15, 2008 from: http://io.uwinnipeg.ca/~epritch1/amdvlop.htm

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During the nineteenth century, nationalism was the driving force behind the unification of Italy in 1861 and the creation of Germany as a modern nation in 1871. Nationalism had also proved a useful tool for encouraging the expansion of empire, as politicians sought to win over their constituents with the notion that it was the moral duty of western nations to civilize the rest of the world. Imperialism was also one of the four contributing factors to the cause of World War One. Although not all events that fall into the imperialistic category were about controlling another country, they contributed to the war, and imperialistic events were the foundation of the cause of World War One.The Indian Independence Movement began in 1857, and lasted until 1947. Before the beginning of the movement, India had never known political freedom. Foreign rulers had occupied the country for its' entire history. By the time the British took over the area, the natives of India had grown restless with h aving no say in any political decisions. This showed the British that the Indians were serious about achieving their freedom. During the 1900’s almost every part of Africa was a European colony. The native Africans began to protest for independence. They used a system of protests called Pan-Africanism. These brought worldwide attention to the independence of Africa from Europeans.Nationalism has had good and bad effects on major events throughout history. Some of the events that nationalism has affected would be World War 1, the Indian independence movement, and the African independence movement. Nationalism had a vital role to play in the build up in the World Was One, as different nations sought to impose their authority on the rest of the world. Na... ..., and promotes values that are the product of the African civilization and the struggles against slavery, racism, colonialism. Pan-Africanism can be seen as a product of the European slave trade. Enslaved Africans of diverse origins and their descendants found themselves embedded in a system of exploitation where their African origin became a sign of their servile status. Pan-Africanism set aside cultural differences, asserting the principality of these shared experiences to foster solidarity and resistance to exploitation. Initially anti-slavery and anti-colonial movements amongst black people of Africa and the Diaspora in the late nineteenth century, the aims of Pan-Africanism have evolved through the ensuing decades. Pan-Africanism has covered calls for African, nationalism, independence, political and economic cooperation, and historical and cultural awareness.

Interested in painting and sculpture, I finally chose interior architecture designer as my future career

Employment Status Report Goals and doctrine Interested in painting and sculpture, I eventually chose interior architecture interior decorator as my hereafter calling, for residential design involves both architectural aesthetics and practical value. A perfect design requires a comprehensive cognition in aesthetics and professional competency that involves high engineering ( Kadir,2009 ) . As mathematics and painting serves as basic accomplishments for interior architecture design, to heighten the proficiency in working with engineering serves as my short-run ends, which requires a uninterrupted pattern in utilizing in writing package such as Auto Desk 3D Max and Adobe Photoshop. I wish to hold on those accomplishments over the following 3 months. In footings of long-run ends, I wish to work in big design companies such as GHD and AXS Satow because of its good chances for development with original constructs in design. A contemplation of aesthetic and practical value in interior architecture design is my artistic doctrine. I believe that the design of interior ornaments and furniture must run into customer’s stuff and religious demands of the indoor environment. The artistic doctrine has been reflected in my experience of planing a nuptials room for Art Studio in Beijing. The infinite environment met the corresponding demand of clients with a contemplation of romantic ambiance despite a dissatisfaction with little points. When dissatisfaction arose, I would exemplify my artistic doctrine that all the designs work as a whole to make an expected consequence so that he eventually accepted my advice. Market Due to the huge economic potency of interior architecture design, the competition of the industry has become rather intense. Harmonizing to a survey made in 2011 byNew York Observer, the mean income of a junior interior architecture interior decorator in moderate-sized companies was approximately 0.56 million dollars a twelvemonth while a senior interior decorator received 1.2 million in norm ( Mark,2011 ) . In order to calculate out what sorts of architecture interior decorators were competitory, I had an interview with Liang Zheng, the HR of AIO ( Shanghai ) international landscape and architecture design company. He listed several of import makings and qualities in choosing a competent interior decorator, including a master’s grade, abroad instruction backgrounds and working experience in architecture design. In add-on, those with a good team-work spirit and communicative capacities would be more likely to be selected. To advance myself in confronting the ferocious competit ion, I should cultivate a good communicative accomplishments and team-work spirit. Skills and tools Working in an international architecture design company requires makings and professional accomplishments of high degree ( Frank,2004 ) . In add-on to a comprehensive cognition in architecture aesthetics, communicative capableness and good team-work spirit besides serve as of import portion to carry through my long-run professional ends. My current cognition in architecture aesthetics and in writing package is non sufficient for viing with other architecture interior decorator in big companies in which international communicating is rather frequent. Therefore I should be involved in diverseness preparation classs and English classs to heighten my communicative abilities. With those attempts, indispensable working experience can be added into my professional portfolio. Networking Networking plays an indispensable function in farther growing for architecture design companies, for the communicating of design constructs and updated engineerings helps to set up a long-run common good cooperation on a higher degree. Outstanding associations and diaries of interior architecture design serve as effectual medium for the communicating within the industry. Interior Architecture Design, a Santa Monica College award-winning plan located at the Academy Campus, focuses on heightening professional accomplishments in the local and international Architecture and Design Industry. In add-on, the A Interior Design Competition besides plays an of import portion for the uninterrupted development of architecture design. The award has been viewed as an index of perfect interior design and of import milepost in one’s calling. Provided with sole selling and communicating services to advance his proficiency, a victor will be popular among world-wide design oriented companies and involvement groups. Therefore I take an active portion in assorted competitions and plans of architecture design to accomplish the long-run end. The hereafter In the hereafter, I wish to work as a junior architecture interior decorator in PAL Design Consultants Ltd of China, for the company’s original construct in interior architecture design and favourable working environment. The company has created assorted interior architecture designs through the usage of advanced attacks to spacial organisation, stuffs and illuming with great aesthetic value. The laminitis of the company, T.K.Chu, is good known for his constructs of incorporating manner elements into classical designs. He has developed his ain aesthetic, the Art Deco that transforms authoritative spirits into geometric, in writing and rhythmic vision, which helps the planing merchandise addition agreat popularity. His ultimate end is to show the value of trade art that can non be reached under the aid of accurate calculations, for which I admire him a batch. In add-on, a favourable on the job environment makes the company more attractive. The staff of PAL Design Consultants Ltd comes from topographic points around the universe with assorted cultural backgrounds. The squad provides a balance of western expertness, cross-cultural experience and local penetration and the intertwining environment brings a wealth of creativeness and motive to the talented squad ( Roland,2003 ) . Bing an architecture interior decorator in PAL Design Consultants Ltd, I can turn and develop with superb interior decorators in a cheerful and lively, originative and harmonious civilization. With its original construct in planing the company will maintain endeavoring farther in front in a dynamic and extremely competitory marketD ( Rowland,2011 ) . To accomplish this long-run end, I must heighten my communicative capableness and a good team-work spirit in the hereafter. In add-on to the cultivation of the above communicative accomplishments, I will besides go on wor king on my proficient proficiency. BeginningsKadir.H. ( 2009 ) .The Integration of Interior Architecture with Innovative Design Approaches.US-China instruction reappraisal. ISSN 1548-6613.Vol.8.Mark.G. ( 2011 ) .Architecture Design Gains its Popularity.Architecture Design. New York Observer. Vol.48.Issue.4Frank.G.A. ( 2004 ) .Architecture Design and Assessment system.4.Roland. D. ( 2003 ) . Issue Brief: Smart-Growth: Building Livable Communities. American Institute of Architects. Retrieved on 2014-03-23. 5.D. Rowland. ( 2011 ) .T.N. Howe: Vitruvius. Ten Books on Architecture.Cambridge University Press, Cambridge 1999, ISBN 0-521-00292-3

Lord of the Flies : Relationship Between Two Main Protagonists Essay

American president Franklin D. Roosevelt once said that â€Å"If civilization is to survive, we must cultivate the science of human relationships – the ability of all peoples, of all kinds, to live together, in the same world at peace. â€Å" This quotation fits very well in the novel Lord of the Flies written by William Golding in 1954. This story is about a group of young boys from British school, who found themselves on a tropical island after an airplane crash. This story shows how people can easily change when there are no laws or restrictions to prevent them from becoming wild and out of control and that the pure person’s character will come up in situation similar to this one. We can find many different characters amongst all the boys, but I will try to focus on characteristics of two main protagonists and analyze the relationship between them and also their attitude to other boys. I would like to bring you a brief summary of Lord of the Flies so my description of each protagonist is more understandable. In the middle of ragging war, a plane evacuating a group of schoolboys from Britain is shot down over a deserted tropical island. There is no one but young boys on the island, no adults, no authority and all of a sudden everything is upon them. There are older boys but majority of little ones or â€Å"littluns† as they start to call them. Boys will realize that they need some supervision, someone who will be in charge of them and who will be giving orders so they do not become savages. They agree to make elections and boy named Ralph is elected as a chief. He chooses another older boy named Jack to be his assistant because he is already leading his choir. Now it is obvious that there are two most important characters in the story – Ralph and Jack. We also get to meet one of older boys called Piggy, who has immediately became a target of ridicule because of his appearance. Piggy is fat and wears glasses, which makes him not acceptable for kids ´ games. However Ralph is always his friend and he protects him from those who laugh at him. Ralph’s main idea is to set a fire so they can be rescued and to build shelters. Group is agreed to maintain the fire all day long and every time there is guard duty consisted of two boys looking after the fire. As the story goes on boys become tired of their duties and they start looking for something that brings them more entertainment. Into this comes Jack who wants them to be hunters and hunt pigs that are on the Island. Most of the boys find this to be fun so they stop listening to orders and rather go with Jack to hunt. This is the moment where boys are separated into two groups according to their character. The incompatibilities of their temperament are growing much more from now on. Groups are being separated and Jack’s group grows in savagery. This finally culminates to full loss of control and these boys do what they want till the time they are rescued. As we can assume from previous paragraph Ralph is a boy with good character and he was always the one trying to prevent boys from becoming wild and from breaking the rules. He is also the most important protagonist in the story. He was chosen to be chief because of his natural talent of leadership, even though he sometimes also acts like a kid. As well as other boys he laughs at some boys. He even does pick on Piggy from time to time. Ralph realizes the importance of being rescued therefore most of his orders are similar to what and adult would decide to do. This is the reason why most of the boys rather join Jack, because soon after plane crash they found out that this is a great opportunity to have lots of fun when there is no â€Å"real† supervision of any adult person. Jack on the other hand is the one who offers them pure child ´s life full of games and adventure. He is also a natural leader and the fact that in the end of the story he makes everyone but Piggy and Ralph convert to his group is an ample proof of it. Unlike Ralph he is the leader of anarchy on the island. Even though he does not like to follow rules of any kind he does in the beginning. Jack simply wants to hunt and have a good time, not seeming to care about being rescued; he and his tribe are perfect examples of savagery. The relationship ship between Ralph and Jack is essential to what happens in Lord of the flies. Both movies that were made based on this novel describe this relationship in different way. The later movie especially makes it much tenser that how it actually is in the book and since I saw the movies first I was very surprised how nice these boys to each other are in the book. Things start off well at the first meeting. The group of boys vote for a chief who as I have already mentioned turns out to be Ralph and everyone breaks into applause. This of course makes Jack feel embarrassed that he has not been chosen to be chief and that his choir didn ´t support him. However Ralph at this moment says that his choir belongs to him of course. This is im plying that Ralph wants to make Jack be important. Jack does appreciate this because due to this act he does not have to feel ashamed anymore. This is where their friendship begins though it does not take too long to break down. Ralph and Jack go together on first exploration and they experience a lot of fun while walking up to the highest point to find out whether they are on the island or not. Their friendship is growing in strength. At this point they listen to each others’ ideas and suggestions and we can see mutual respect. When they find out that they really are on the island they go back to the rest of the group and Ralph tell them that they might be here for a long time before someone will come to rescue them. Here is Jack saying very important thing: â€Å"We’ve got to have rules and obey them. After all, we’re not savages. We’re English, and the English are best at everything. â€Å" This sentence proves that even Jack had rational thinking in the beginning and that he agrees with Ralph. Soon after Jack does first step that will lead to future disagreement followed by separation of groups. He persuades two boys who are on fire guard duty to come with him for hunting because he needs them. They go with him and the fire dies. Unfortunately at that moment ship goes by the island but there is no fire to attract its attention. Ralph rushes to the place of fire and finds out that boys are gone. When Jack with his hunters and dead pig comes back Ralph starts yelling at him and Jack is embarrassed again. Although he sees the mistake he has done and he publicly apologizes to him. Jack did not like the fact that Ralph was right and he starts to put together a bigger group of hunters where he is in the charge. The break down moment comes when Ralph calls together an assembly. He wants to discuss things that boys do wrong and give new rules. There has also appeared another problem – boys are afraid of a beast that they made up in their minds. They are afraid that this beast will hunt them down and kill them. Ralph claims that there is no such thing and everyone should get back to work and not only play games all the time. After this Jack stands up and shouts: â€Å"You are just giving orders that don’t make any sense! â€Å"(Golding, p. 93) Ralph is surprised by him and he tries to explain the importance of rules for being rescued. However Jack says: â€Å"Bollocks to the rules! We’re strong–we hunt! If there’s a beast, we’ll hunt it down! We’ll close in and beat and beat and beat–!† (Golding, p. 93) We can see sudden change in their relationship that was started by Jack. After a while there is another assembly, where Jack finally says: â€Å"I’m going off by myself. Ralph can catch his own pigs. Anyone who wants to hunt when I do can come too.† (Golding, p. 140) After this, boys start to split off. There is also nobody to keep the signal fire burn and the chance of rescue is therefore very low. Unfortunately for Ralph most of them are younger and do not feel any responsibility and their desire after adventure and killing beast leads them to Jack ´s side. In the end there is no one but Ralph and Piggy in Ralph ´s group. Now there is almost no relationship between two main protagonists. Ralph still wants to explain the need of being together and help each other but Jack hates him and his group often attacks the place where these two boys stay. Ralph and Piggy for the last time decide to go into their territory to explain that they have to act like grown-ups. Nobody wants to listen to them and they even throw down a piece of rock, which instantly kills Piggy. Ralph escapes and hides. He is being followed. Whole group was told by Jack that they have to kill him. Boys set grass and trees on fire to smoke him out and so Ralph runs all the way to the beach where he runs into naval officer, who is there to save them. The end of the story only shows that Ralph ´s orders had sense because it was the fire that attracted navy ´s attention. Jack was only jealous and he wanted to have his own group of people. For this reason he decided to offer them something that Ralph could not because he had the responsibility of an adult. Jack turned into savage while Ralph kept his rational thinking. Their relationship has completely turned from the start till the end and we had plenty of time to realize who the good one is and who the bad one is. ——————————————– [ 2 ]. GOLDING, William. Lord of the Flies. 1st edition. London : Faber and Faber, 1954. Fire on Mountain, p. 40.