A "tier" is, originally, a group of rows within a larger group.In theaters, such as for plays (like Shakespearian plays) or for viewing motion pictures (movies), a "tier" of seats is a group of rows of seats.
The meaning of "tier" has been expanded to mean any large group within an even larger group.
As one example, American banks are required by the Federal Deposit Insurance Corporation (FDIC), which insures individual investor accounts up to $250,000 in the event of a complete bank collapse, to have a minimum of 3% or 4% of "Tier 1 Capital" depending on the classification of bank.
In this case, Tier 1 Capital is composed of different types of capital, all of which fulfill an FDIC-created definition to be classified together as "Tier 1" capital. Therefore, even though the types of capital are different, they are classified as a single group within a larger group (that is, capital of all types).
Tiers are usually assigned numbers in the order of priority. In banking, Tier 1 Capital is the most important kind for measuring the health of a bank (its ability to survive). Thus, this capital is Tier 1, rather than some other number. In other fields, Tier 1 of anything should be assumed to be the most critical of the tiers composing the entirety of the group.
Monday, August 9, 2010
Tuesday, August 3, 2010
Success
Recently, I read an article debating President Obama's declaration that he would rather have a successful one-term presidency than be re-elected for a second term. (Of course, the maximum is two terms under the current U.S. Constitution.)
As the article pointed out, this cannot define "success" as popularity, since popularity would result, in and of itself, in being elected for a second term. Instead, the sentence defines a successful presidency as a consequential presidency; that is, a presidency in which many laws are passed and much progress is made towards the America that President Obama idealizes.
Success, therefore, can be defined in many different ways. Success is the accomplishment of a task. Success has a positive connotation and is seen as synonymous with victory; therefore, the task - whatever it is - must be something good, as defined by the speaker.
In business, the primary measurement of success is making a large profit. However, in these environmentally conscious times, many businesses do not view their operations as successful unless they are having a positive impact on the environment, or, failing this, are minimizing their negative impact and offsetting that impact with other benefits to society.
However a task is defined, success means finishing a task in a positive way. Thus, while success means different things to different people, success itself is always meant to be a good thing, or we would call it failure, not success.
As the article pointed out, this cannot define "success" as popularity, since popularity would result, in and of itself, in being elected for a second term. Instead, the sentence defines a successful presidency as a consequential presidency; that is, a presidency in which many laws are passed and much progress is made towards the America that President Obama idealizes.
Success, therefore, can be defined in many different ways. Success is the accomplishment of a task. Success has a positive connotation and is seen as synonymous with victory; therefore, the task - whatever it is - must be something good, as defined by the speaker.
In business, the primary measurement of success is making a large profit. However, in these environmentally conscious times, many businesses do not view their operations as successful unless they are having a positive impact on the environment, or, failing this, are minimizing their negative impact and offsetting that impact with other benefits to society.
However a task is defined, success means finishing a task in a positive way. Thus, while success means different things to different people, success itself is always meant to be a good thing, or we would call it failure, not success.
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