Should Japanese Yen be appreciated or depreciated against U.S. Dollar Research Paper

Should Japanese Yen be appreciated or depreciated against U.S. Dollar - Research Paper Example Over the years owing to crisis US has adopted unconvincing monetary policies as a measure for bailout and recovering from the miserable economic situation. This has made dollars almost worthless. Under such circumstances Japan has also adopted the mechanism of quantitative easing leading to appreciation of Japanese Yen. But it has not helped the Japanese economy much. Credit growth has been on the slower side (Zarathustra). Taking this as backdrop the paper intends to trace out the effective exchange rate policy for Japanese economy, whether it should be appreciation or depreciation, and citing various reasons and arguments for it. Japanese Yen is such a powerful currency that it has appreciated even under conditions of quantitative. This phenomenon has continued in Japanese economy for 10 years. In contrast there has been depreciation of Pound Sterling by almost 50 percent of Yen. Depreciation list includes many other important currencies like Euro. Japan has also maintained a low interest rate of 1.092% even in the era of debt crisis. But the ongoing recession has caused economic growth in Japan on the slower side. This has deleveraged private enterprises. This requires Japan to reconsider and frame an effective exchange rate that can lead to economic growth (Zarathustra; Japan Intervenes to Tame Soaring Yen Ahead of G20). New York has suffered a fall in recent times which had raised questions on status of US recovery. But ultimately it has been to recover to 88 yen as per the current Tokyo deals. Tokyo has brought back dollars recently and this had helped United States in overcoming recent downturns (Dollar recovers to 88 yen zone in Tokyo after sharp falls in N.Y. +). Currently Japanese Yen is going at 0.0128086 USD. Data from the months in 2011 gives the lowest value as 0.0122797 USD which was for the month of July and the highest value of 0.0131979 USD was traced for the month of October. Average has remained at 0.0129061

A Chat with Jesus Essay Example | Topics and Well Written Essays - 1250 words

A Chat with Jesus - Essay Example The high price of such experience shows the value found in wisdom, a treasure more valuable than gold and diamonds. As there are rare people who truly have the wisdom that promotes prosperity not only in the financial aspect of a person’s life but includes philosophical, psychological, emotional and spiritual prosperity; it is indeed important to consider the people a person deals with. If given the chance to speak with one person for twenty four hours, the choice would definitely the man who was crucified because of his claim that He is the Son of God. There are many courageous people who would claim what or who they are but probably would never dare to say that they the sons God. Being a prominent figure in the generation He lived with, Jesus never sought to be famous instead, he eluded political power which could have been easily his with the help of his supporters and the Jews who were unfairly treated by the Roman government. In a world where fame and fortune are importan t, it would be wisest to hear from one who has looked to better things rather than what is seen in the present. In addition, it would be a great advantage for a person to get himself involved in the spiritual discussions of a master, a teacher who knows about the centuries-old questions about life after death. The very reason why Jesus Christ was crucified was because of His claim of being the Son of God which, to the Pharisees’ and Sadducees’ point of view, was a means of equating one’s self with the Creator of man, God. This was considered blasphemous, for a man to consider Himself equal with God, yet Jesus with all the courage He could muster and despite the knowledge of what disaster awaits Him, Jesus still declared Himself to be the man He claimed to be, the Son of the Living God, enraging the teachers of the law and endangering His life. One of the things people look up to these days, is the courage and boldness a person has in presenting himself, to be hi ghly applauded and well-considered. If indeed this is a need that is to be met in this generation for a person to be able to be competitive and successful, then listening to the advice of a person who had all the confidence in declaring himself to be the Son of God, would be a great help. Many scholars study about confidence building as they see it important in a person’s life and probably, for a person to be able to survive in a world like ours, one has to have the attitude of being sure of one’s self. Of course, not everyone is equipped with such confidence for even other great philosophers and prophets had their own slice of uncertainties. For Jesus, He was so sure of Himself that even if it meant death to Him, he still stood for what he believed in, for which, on another perspective, would be considered honorable and making him highly distinguishable. Fame and fortune are one of the things modern people chase but with Jesus, having all the abilities and capabilitie s, he chose to live a simple life, out of the limelight despite the good things He did. Surely, there is something more important in life than the aforementioned essentials of modern living. Getting an education about the matter would be a great experience with the teacher who could have the best reasons why He chose not to get himself involved in politics and other forms where he could acquire wealth. Reading books could inform me in years and probably provide me with all the information needed but authors may be misconstrued and readers forget. As mentioned earlier, speaking with a wise man face to face is far better than just

Competencies &amp Essay Example for Free

Competencies amp Essay 1) Legal and regulatory factors: The medical device industry is classified as class 3 , high risk implant so its obvious that a lot of investment goes into testing and experiments with sufficient evidences to prove its safety in-vivo. There are instances when a device fails and a single lawsuit causes the entire company to close down. Thus its advisable to invest time and money , before taking the implant out to the market 2) Investment of Time Money: As approval process is a long drawn procedure, it is necessary to have well trained quality managers and regulatory system advisors as employees. Sometimes services of external consultants or Regulatory advising companies might be used. 3) In-house surgeons/medical practitioners: As these devices cater to specific ailments and are highly specialized, it is important that we have in-house surgeons to understand the requirements of a product before we begin to design it. Infact the engineers and the surgeons should work hand in hand to come up with a better product. The crucial factors which determines success in biomedical industry. 1) Availability of constant flow of Funds: For a new product to be in market, it might take 3-4 yrs, so during this period there should be a constant supply of funds to pay the employees and keep the company running. 2) Excellent marketing strategies : Its important that these products are marketed through right channels, thus its highly imperative that the products are showcased at various trade shows/conferences 3) Understanding the regulatory process: The main aim would be to bring the product soon to the market, by making a full-proof plan before the submission process for approval, as this phase is the lengthiest of all the processes. D. PEST ANALYSIS: Scope of Growth: The medical device industry out here thrives on reverse engineering concept the result is a number of ME TOO products. Infact companies end up investing on buying patents from European and American companies and do not believe in investing money for research and development of such products. There is huge market to be tapped as there is a lot of demand for these products most of which is imported from the Europe and the U. S. This area being the fastest growing market, the projected growth is expected to touch up to $16 billion in 2015 revenues. Source: Millennium Research Group. Spine Care Segments 2015 There is expected to be an increase in surgical treatment options, like facet replacement and dynamic stabilization procedures, which will likely be more acceptable to patients, perhaps doubling the % of patients accepting surgery from 3. 6% to 7% of a much larger, elderly population. As clinical results improve, this market is expected to continue to grow 20% per year and offer a tremendous opportunity to companies with innovative product lines. In 2015, industry experts project lumbar fusions will not grow, but stay at the same 2006 level of 400,000 procedures; dynamic stabilization devices will grow from 25,000 to 250,000 cases; and artificial lumbar and cervical discs grow from 25,000 to 600,000 cases, as these new procedures begin to replace spinal fusion. PART 2: A: BUSINESS OWNERSHIP: Sole proprietorship is a one-person business is registered with the state like a limited liability company (LLC) or corporation. Legally, a sole proprietorship is inseparable from its owner the business and the owner are one and the same. This means the owner of the business reports business income and losses on his or her personal tax return and is personally liable for any business-related obligations, such as debts or court judgments. This accounts 74% of all USA businesses and for 6% of all sales in USA. Advantages: (1) decisions are made by only the owner; (2) simple process to start – just get a business license (3) profits belong to the owner; (4) pride of ownership; (5) lower taxes. Disadvantages: (1) unlimited liability (2) limited life of business (3) difficult to raise capital for business; (4) risk of lost is not shared. Partnership: a partnership is simply a business owned by two or more people Just like in a sole proprietorship, the partnerships owners pay taxes on their shares of the business income on their personal tax returns and they are each personally liable for the entire amount of any business debts and claims. 8% of all USA businesses are partnerships and accounts for 4% of all sales in USA Advantages: (1) easy to start (2) not many regulations; (3) not as difficult to raise capital for business; (4) combination of knowledge and skills. Disadvantages: (1) unlimited liability; (2) profits are shared; (3) limited life of the business; (4) disagreements Incorporation: Though forming a corporation is a bit more complicated and costly, but it is well worth the trouble for some small businesses. The main benefit of an LLC or a corporation is that these structures limit the owners personal liability for business debts and court judgments against the business. What sets the corporation apart from all other types of businesses is that a corporation is an independent legal and tax entity, separate from the people who own, control and manage it. Because of this separate status, the owners of a corporation dont use their personal tax returns to pay tax on corporate profits the corporation itself pays these taxes. Owners pay personal income tax only on money they draw from the corporation in the form of salaries, bonuses, and the like. Corporations make sense for business owners who either (1) run a risk of being sued by customers or of piling up a lot of business debts, or (2) have substantial personal assets they want to protect from business creditors. 18% of all USA businesses are corporations and accounts for 90% of all sales in USA. Advantages: (1) easy to raise capital (2) limited liability; (3) unlimited life of business; (4) Can hire specialized skills and knowledge; (5) shared risks. Disadvantages: (1) difficult to start; (2) less direct control; (3) double taxation: corporate tax and individual tax (4) limited activity. Franchising: Franchises are in which individual businessmen or people buy a well established business, but a certain percentage goes back to the corporation. Franchises must adhere to the corporate regulations. (McDonalds, Krispy Cream, Starbucks). Acquisition/Mergers: In this two companies merge together(merger) or a big company acquires a small innovative company giving rise to an acquisition. The best option to go with would be setting up a corporation or a LLC rather to start. The limited liability company or LLC is a relatively new form of doing business which is now recognized in most states. The LLC has grown in popularity because it combines the best features of a corporation and a partnership. Like a corporation, the owners (called members) of the LLC are not personally responsible for the debts of the LLC. Like a partnership, there is no dual taxation and the earnings of the business are taxed directly to the members. The LLC is also preferable in many ways to the S corporation, which also avoids personal liability and dual taxation. The LLC is not subject to most of the limitations which are imposed on corporations by applicable law. For example, while an corporation is not allowed to have more than one type or class of stock ownership and is not allowed to have more than 75 shareholders, the LLC is not subject to such limitations. Overall, the LLC simply allows more flexibility in the structure, operation and management of the business than does the S corporation. LLCs are similar to corporations because they also provide limited personal liability for business debts and claims. But when it comes to taxes, LLCs are more like partnerships: the owners of an LLC pay taxes on their shares of the business income on their personal tax returns.

Case Study Of Johnson And Johnson Commerce Essay

Case Study Of Johnson And Johnson Commerce Essay For many Chinese people, they could buy some foreign products since 1980s, because many foreign companies have set up in China at that period, and huge amount of imported products were sold in Chinese market, which means the effect of the globalization can be seen in our daily necessities. In 1982, the first Johnson Johnson operating company was opened in China, then a series of products of Johnson Johnson entered Chinese market. Why Johnson Johnson would like to enter other foreign market, especially in developing country like China? This report will examine whether Johnson Johnson is an international corporation or a global corporation through two concept, corporate structure and geographical expansion. Although in previous studies, there is no sole definition of internationalization and globalization, this report will analyze Johnson Johnsons characteristics to support that it is a successful example of global corporations. Contents Introduction In todays competitive business environment, there are a lot of multinational enterprises. Like Johnson Johnson, it could be found in every country. However, in some studies, there is no clearly concept or explanation on whether the corporation is international or global. Many international corporations have been influenced by globalization where they would turn into global corporations. Therefore, the aim of this report is to analyse whether Johnson Johnson is an international firm or a global firm, and discuss what global characteristics it possesses. In order to do a case study of Johnson Johnson, its corporate structure will be described and geographical expansion will be analysed. To summaries when and how did Johnson Johnson become a global corporation? By using a corporate geography perspective, this report will include the analysis of whether geographical expansion is a good way to enhance firms scale or not and if it could change international corporations into global cor porations. However, globalisation might be constrained somehow. Globalisation might also bring corporations more challenges, which could be seen in long run. In the world economy, the use of globalisation might be exaggerated. Internationalization and Globalisation There is no unequivocal definition of what is globalization. According to David DeBry (2001, p. 42), who pointed out that internationalisation is like creating a round-toed shoe that fits people with all types of feet. It is not as comfortable as a perfectly fitted shoe and doesnt fit snugly, but can be worn by many people. Whereas globalization refers to the trend of a more integrated and interdependent world economy. Dicken, P. (2011) mentioned that the concept of globalization became familiar gradually in the past 30 years. Globalization is the method to solve the worlds economic issues (Dicken, 2011). Globalisation might influence the form of companies, which leads to the changing from trade to Foreign Direct Investment (Dicken P. , 2003). Trade volume has increased by the progress of globalisation (Dicken P. , 2011), for example, Chinese people could barely purchase foreign products in China before 1980s until the government approved the reform of Chinese economy approaches. Whi lst the volume of import and export of China reaches a really high amount. Figure 1 Source from Dicken P. 2011 table 2.1 Figure 2 Source from Dicken P. 2011 table 2.2 Nowadays, people witness the establishment of international corporations and global corporations. The worlds largest 500 corporation are usually being classed multinational enterprises (MNEs). An example of global brands is Johnson Johnson. However, how to identify the difference between international corporations and global corporations? First of all, being international corporations, the quantity of branches and subsidiaries are limited, it could be in only one country. But global corporations have many branches and subsidiaries among all over the world. International corporations have some investment in at least one country, they search profitable opportunities, whereas global corporations use the world as an opportunity. For most global corporations, they need to build a global brand, a successful reputation built should link the name, products and logo to many people. For instance, people could hardly find substitute for many Johnson Johnson products, and the majority people have heard this name. According to Giorgio et al. (2002), there are two reasons to why a company should change from international to global company. On the one hand, a company could open its market worldwide. On the other hand, the company could lower its cost. Dicken (2003) demonstrated that a global corporation would be a firm that has the power to coordinate and control operations in a large number of counties (even if it does not own them), but whose geographically dispersed operations are functionally integrated, and not merely a diverse portfolio of activities. The background of Johnson Johnson The concept of corporate structure is the arrangements whereby the firm motivates, coordinates, appraises, and rewards the inputs and resources that belong to its coalition (Caves, 1980:66). Many successful corporations would establish famous branded products and develop different type of products (Caves, 1980). A firms corporate structure is depended on many issues. For example, when one company start up for only 5 years, its corporate structure would be less complex than company which founded 50 years ago. In Johnson Johnson, their board of directors is a group of people who meet a set of General Criteria for membership and are elected to the Board by our shareholders each year. We currently have 14 Board members, 12 of whom are independent under the rules of the New York Stock Exchange. (Johnson Johnson, 2012). Many large corporations tend to have the same corporate structures. It includes about five departments, which are Marketing, Finance, Accounting, Human Resource and IT. Usually corporate structure are four types as following (Dicken P. , 2011): Figure 3 (Source from Dicken P. 2011 Figure 5.8) It can be seen that global corporates structure is more complex than international corporates structure. For Johnson Johnson, the executive committee is the main management team, which is responsible for the operations. The corporate governance is formed by accounting controls, independent auditor, audit committee of their board of directors and business results. Figure 4C:UsersREDesktopConcept2.jpeg This figure shows the board of directors of Johnson Johnson. (Johnson Johnson, 2012) 3.1 A strategy of Johnson Johnson The reason why Johnson Johnson achieves such great success is that it has strict operating mode. (Johnson Johnson, 2012) 1. Market penetration Johnson Johnson has improved the share of market by increasing the quality of products, meanwhile, offering discount is an appropriate way to influence consumers habits and purchasing. 2. Market development It developed new markets to provide the same products for consumers who have the same requires in different countries. 3. Product development It developed new products to old consumers, which would expand popularity. 4. Diversification It provide new products to new markets. 5. Consolidation This step is to retain its stable relationship with consumers. Chandler stated that a firms growth is always through three strategies as following (Chandler, 1962): 1. Expansion is to widen the existing line to the same kinds of consumers. 2. New markets and sources of supplies are very important factors. 3. Developing a wide range of new products for different types of consumers As one of the largest and most comprehensive health care corporation in the world, Johnson Johnson has experienced vital growth in recent years. Johnson Johnson was founded by Robert Wood Johnson with two brothers in New Jersey in 1886. With the expansion and development of its business needs from the 1920 of the 20th century, Johnson Johnson has set up a lot of branches and acquired many companies among Europe, Asia, Australia and Africa. By today Johnson Johnson has established and acquired more than 250 branches and companies in over 57 countries, and has about 129,000 employees. Johnson Johnson is Ranked 42nd in fortune 500 list in 2012. (Johnson Johnson, 2012). In 1924, the first overseas operating company was set up in the United Kingdom, which indicated Johnson Johnson has started its foreign company period. In 1944, Johnson Johnson joined the New York Stock Exchange. (Johnson Johnson, 2012). Revenues of JJ has increased from only $7 billion in 1987 to more than $65 b illion in 2012. Profits increased at an even faster rate, from $329.5 million in 1987 to $9672 million in 2012. (FORTUNE 500, 2012) 3.2 Corporate Structure of Johnson Johnson For every MNE, as key driver of globalization, has its unique corporate structure on a wide variety of market, which influence the corporations management in marketplace. The main sector is the number and size distribution of sellers and buyers, height of barriers to enter and exit (Caves, 1980). Why Johnson Johnson can be called a global corporation is that it has complicated structure. It depends on the development and innovation, because Johnson Johnson has three business divisions: 3.2.1.. Consumer products Baby Care Skin and Hair Care Wound Care and Topicals Oral Health Care Womens Health Over-the-Counter Medicines Nutritionals Vision Care Online store The consumer products chain retail outlets are widespread all over the world, these products are sold to general public and both to wholesalers and directly to individuals, while Pharmaceutical products and Medical device Diagnostics are depend on acquisition of other companies. 3.2.2. Pharmaceutical products Janssen RD LLC Janssen Pharmaceuticals Inc. Janssen Healthcare Innovation Janssen Diagnostics Veridex, LLC These products offer medicines that treat widespread diseases. 3.2.3. Medical device Diagnostics Advanced Sterilization Products Animas Corporation Cordis Corporation DePuy Synthes Companies of Johnson Johnson Ethicon,  Inc. Ethicon Endo-Surgery, Inc. Johnson Johnson Vision Care, Inc. LifeScan, Inc. Ortho-Clinical Diagnostics, Inc. These products might be used in professional fields, such as physicians, nurses, hospitals, and diagnostic laboratories. It has gained the competitive advantage through knowledge of recognition and integration in the world, and achieved implementation and operation. With the development of Johnson Johnson, it has shaped a very complicated company. There are approximately more than 200 different type of products are formed in three departments. To what extent the success of Johnson Johnson could achieve is depends on the relationship between three departments and other business departments. In the past 10 years, Johnson Johnson has purchased more than 60 small firms. It focus on managing the knowledge. Usually, corporation has the following ways to grow: internal expansion, exporting, licensing, franchising, mergers and acquisitions, and geographic expansion. (Bruce R. Barringer, Daniel W. Greening, 1998). These strategies support corporations to enter new markets, as well as develop corporations resources through different countries or regions. Previous studies have revealed that geographic expansion is a new operation in a different area. (Hsien-Jui Chung, Chun-Chung Chen, Tsun-jui Hsieh, 2007). It might form international supply chains, which firms would purchase components, raw materials and services. It was significant to gain growth and enhance performance when Johnson Johnson has set up the first foreign firm in 1924. Geographic expansion would bring a lot of advantages (Farok J. Contractor, Sumit K. Kundu and Chin-Chun Hsu, 2003) Global market often give more scope for economies of scale, which in this case study, has changed Johnson Johnson into a global firm. As Dicken (2011) mentioned that global economy are connected with geographical and organizational structure. He (2011, p. 96) pointed out closely related to the issues of geographical scale and organizational loci is the importance of territoriality in networks. Findings To sum up, from what is discussed above, Johnson Johnson is a global corporation. As a result of some literature, there would be two measurements to determine whether the corporation is globalised or not, which is from organizational and geographical scale. Firstly, Johnson Johnson has complicated corporate structure, it has executive committee to manage and operate Johnson Johnson. Compared with its geographical scale, Johnson Johnson has more than 250 branches and subsidiaries all over the world. Then corporations earn profits from the globalisation economy, which is why many international company would like to expand their subsidiaries and branches to other different countries or regions. Discussion Globalisation plays an important role, it changes the world economy. Firstly, it increases the trade from one country to another. Apart from that, globalisation makes economy prosperous because it raised foreign direct investment while there might be some limitations. When a company is already a global company, what should be their next steps or strategies? Is globalisation the destination for one company? In accordance to some literatures, globalization is end of geography (OBRIEN, 1992). Increasingly companies have gained more profits from globalization, in other words, the progress of globalization gets advantages for enterprises. Conclusions So far, for many people, it is hard to explain what are international corporations and global corporations, because internationalization and globalization cannot be easily distinguished, but actually there are different. Consequently, they can be differentiated by the geographic scale and corporation structure. Globalized companies often owns similar structures. It is easier to understand from some literatures. In this report, a case study of Johnson Johnson has determined that it is a global corporation by analysing its corporate structure, different product lines and company strategies. In competitive business circumstance, globalisation is an inevitable trend, not only for companies, but for the macro-economy. Globalisation makes the whole world look like borderless, it might boost international business.

Music Essay -- essays research papers

The beauty of music is found in every soul† were the words of my grandmother. She always managed to bring music into every aspect of her life; whether it was ordinary housework or religious functions, she was ready to sing at any time. Her music was not the only part of her life; she was also the mother of six children and the wife of a prominent farmer. Although her life was complicated and, at many times, unbearable, music was never forsaken; it was one of her treasures. Through her and her treasure I realized what life and death really are. Her perseverance through her problems and her patience with her children and grandchildren has always amazed me.   Ã‚  Ã‚  Ã‚  Ã‚  During elementary school, I remember a period of time when my grandmother stayed over our apartment. Although it was uncomfortable for a few weeks, I loved to hear her stories, especially the ones that were songs. It was fascinating because her songs would reflect her experiences, and goals in life; for example, one of her stories was about village women washing their clothes at the river in India. All through my childhood, I listened to her exciting stories, and, even confronted her with questions that made her laugh throughout the night. At that moment her laughter and smile were captured in my heart forever.   Ã‚  Ã‚  Ã‚  Ã‚  As I grew older, my relationship with my grandmother became less of a priority. Instead I began to forget about my family and became more concerned with fr...

Essay --

Ashley Lotoszynski Darren Pagtakhan Social Justice December 17, 2013 Imaginary Fear Teddy Roosevelt once said that, â€Å"the only thing we have to fear is fear itself†. Fear is a product of the absence of knowledge and thoughts that are blown out of proportion. As humans we are scared of the unknown and what it conceals from us. In the novel Lord of the Flies by William Golding, a group of children crash land on an unknown island without adults. As time passes, the kids become uneasy and try to seek comfort in their leaders. When their imagination takes over, the unknown soon ignites their fear and apprehension hinders the juveniles as they attempt to restore order. Since fear is fueled by imagination, the boys’ outward attempt to conquer it only results in violence and chaos. Because we are scared of what we do not know, we believe that the unknown can hurt us. In the beginning, the littluns become scared and speak of a â€Å"beastie†. Piggy asks one of the littluns what he saw and reports that, â€Å"he [the littlun] says he saw the beastie, the snake thing...he says in the morning it turned into them things like ropes in the trees and hung in the branches†(Golding 36). The â€Å"snake thing† is a figment of the littluns’ imagination, causing the children to be more scared which in turn leads them to conjure up more imaginary objects that they believe will hurt them. It is also evident that the boys are scared when Ralph says to Jack that, â€Å"they’re frightened...they dream. You can hear ‘em...They talk and scream...As if it wasn’t a good island† (Golding 52). The boys have nothing to fear on the island however they want to return home where there is danger and war. It is ironic that the boys wan t to leave the island and return home where there ... ...(Golding 181). Jack is a character that instills the fear in the other boys to manipulate them into getting what he wants. By putting the fear into the other boys, they follow him and carry out his evil work leading to violence and chaos. This not only shows that Jack is manipulative, but that he also has a fear of not being a leader and in control. Imagination is the root of fear and leads to destruction and death in the novel. It can make people do irrational things and triggers responses in our security center. In the Lord of the Flies, fear is more dangerous than any beast because the boys are afraid of themselves. Everything that the boys are scared of have an unknown aspect to them. Instead of conquering fear, imagination provokes violence and chaos. The only thing we really have to fear, is fear itself due to its mentally and physically destructive nature.

Course Management Systems †Moodle Essay

Moodle is an open-source course management system designed to host online courses and facilitate academic interaction between students and their instructors. The program was created by Martin Dougiamas, who formerly worked with WebCT. Because of this the program features many similarities to WebCT, but is more flexible overall due to its open-source nature. Moodle can be accessed via more than eighteen-thousand registered websites and is used by approximately eight million students worldwide. The program supports sixty-one languages as of November 2006 and is constantly expanding. Students simply download the program, register a username and connect using an enrollment key code provided by their professor. The site can host single teacher classes, or link various classes within an academic institution. Moodle also offers the option of designing complete lessons online, which can consist of class material as well as optional end-of-chapter review questions. Instructors have a variety of options for posting assignments on Moodle, and can set their own preferences on how student submitted files can be accepted for grading. Teachers have the option to allow students to upload files, including text documents of various formats as well as images. After grading the instructor has the option to post grades directly, as well as leaving comments regarding their response to the assignment. They can also format assignments for direct editing online, allowing students to type their response directly into the program and submit it for grading. Instructors can also use Moodle as an online grade book for assignments complete in class (offline), so that students can have easy access to their grades. Quizzes can be constructed and assigned to students in Moodle as well, with several format options available. Teachers can design tests consisting of various question formats, including multiple choice, true-or-false and short answer questions. They also have the option of giving students multiple attempts to complete the quiz, and can set other variables such as time limits (quiz is timed and may only be completed within the allotted time limit), or password protection to limit access. Students have a variety of options for interacting with fellow classmates as well as the instructors via chat, forums and surveys. They can also access course-relevant resources via glossaries (which can be student or teacher-defined) and a fully-interactive Wiki (user-defined encyclopedia).