Archives for the Month of November 2007 on Colin Mulholland's Online Journal
Writing Is Important in Finance?
"I once asked this literary agent what writing paid the best, and he said, 'ransom notes.'" Harry Zimm, Character in the Movie Get Shorty. This is a common question asked by individuals in search of an academic major, and there are two ways to view Zimm’s response. He states that the meaning of letter reveals the “true value” of the material, while also incorporating the sarcastic stance in which payment notes receive the most money. Financial income is usually a prime factor in one’s determining their future profession, but many have neglected to realize that you do not receive money based on a title, but instead are rewarded for your ability to complete tasks better than your competitors. Regardless of your major, success tends to parallel one’s writing ability.
In an interview with Daniel Hildebrandt, an Economics major with a focus in Finance, I discovered a variety of insights about writing in the finance major. Hildebrandt recently completed a cost benefit analysis of a company, which showed a past decision made by a company, and the effect and future effects the decision may have on the company. His goal is to determine if the company should continue their operations or make revisions. Areas of concern for Economists include: how much the company will save financially and materially, the possibility of the decision producing job opportunities, and how the decision may affect society as a whole. The conclusions of economists are rarely completely accurate, or in the words of Hildebrandt, “people tend to think economists are useless because they are required to make too many assumptions.” Many are not realizing economists form logical, researched hypotheses about the decisions of companies. These analyses derived from others’ and the economists’ research may not be totally accurate, but will give a company a general idea on the efficiency of their operations.
Writing is incorporated in the field of Finance from the hiring process through the retirement stage. The ability of an individual to write academic papers and analyze a company’s financial status directly correlates to being hired for internships and eventually full-time jobs, not to mention will enhance an individuals ability to do well academically. An individual must be able to contact future employers or clients through strategies ranging from news pamphlets to detailed analyses of one’s accomplishments (resumes). These tactics are generally learned during undergraduate years, where one will become well acquainted with a variety of styles and resources involved in communication skills. If an individual’s actions (i.e. communication skills, resume) attract positive attention, he or she will develop a network of clients who will be eager to invest.
Although writing may not seem valuable in Finance, it is arguably the most essential tactic in the field. The essential tactics of communication and writing are basic, but with the aid of higher education and experience, an individual can substantially increase their financing abilities. Without the ability to write, one is unable to prove their talents to fellow clients or employers, and may be unable to perform their job effectively.
Meaningful Management of Archives
Archiving is one of the most underappreciated tasks in processing history. Without archives one would be unable to prove their stance on any issue. Archives’ value is at the direct expense of time and effort, but without the proper archiving knowledge, one’s work may be worthless. Due to a lack of quality archivists, locating an efficiently organized collection of archives may be difficult, but University Circle encompasses several sites, including The Dittrick Medical History Center.
The Dittrick Medical History Center, “holds archives, information written by individuals and organizations that are usually unpublished, for Cleveland Medical facilities and personnel.” A few categories of files that are held in the center are blueprints of The Cleveland Clinic in the 1900’s and employment data of hospitals. The Dittrick has developed a series of archiving steps that have proved to be useful and efficient. Initially the archives are arranged in chronological or other identifiable orders. The next step for archivists is the “description step” in which all archives are summarized and made accessible to researchers. The three main subdivisions of the description step are introduction and biographical notes which synopsize the material, scope and content notes which assist future archivists to understand the materials, and container correspondence which enables researches to quickly find their desired materials. This process is not only useful to the archivist because it provides a detailed procedure for them to follow, but it is incredibly valuable to researchers who desire to find information within the Dittrick.
How are historical facts and events chosen to represent a time period? Archivists attempt to find examples that intersect a variety of interests; therefore, the archive would minimize storage space and maximize critical information. Percy Skuy, “a tireless innovator and contributor to the pharmaceutical industry,” assembled a detailed exhibit that has been put on display at the Dittrick Medical Research Center (The Chronicle of Healthcare Marketing). This exhibit combines over 650 objects with brief explanations of each (The History of Contraceptives). The explanations range from simple descriptions to engaging stories of these unique contraceptives. An object may seem basic, but after reading one may find it to be very unique.
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The opportunity to speak with knowledgeable archivists was informative, and made me appreciate historical data much more. Now having a slight idea of the effort that takes place in finding and processing archives inspires me to utilize resources that are available to me, such as The Dittrick. The point that intrigued me was when the professor stated, “Curators do not need to know everything, but instead need to know where to find it.” This proves true with all writing, but is deliberately illustrated with archiving. Archivists and researchers, especially amateurs, must be willing to fulfill the required steps in order to excel in their project.