The Residual System in the US Essay Example | Topics and Well Written Essays - 1750 words

The Residual System in the US - Essay Example Property asset bubbles occur every time during a normal business cycle and especially during boom times but the severity of the current downturn and subsequent bursting is something unique. Many had compared its deleterious effects to the Great Depression of the 1930s when the stock market collapsed and millions were thrown out of work. Â  The financial crisis led to a tightening of credit such that businesses find it hard to borrow money to finance expansion plans. This, in turn, caused an economic contraction in terms of employment and industrial production, leading to a vicious downward cycle that has continued until today although it had slowed down a bit. The end result is that once prosperous families find themselves on the breadline when their primary breadwinners lost their once secure jobs. It is as if the whole sky had fallen down on them and their own version of the American dream had turned into a nightmare of waiting in job lines. A cherished dream of self-worth was destroyed by these job losses when a primary sense of achievement is how much one can afford to buy in the first place. An individual’s self-worth was once measured in fame and personal wealth but not anymore today. Â  America’s social welfare system is called a residual-type of the program compared to other Western industrialized nations where they are a central part of government welfare policies. By residual, this means aid is given only to those who were very poor, to those who were chronically unemployed, the sickly or the elderly. In other words, the social welfare programs are intended for individuals who cannot make it on our free market system of competitive employment. Welfare aid is given only temporarily to supposedly those people who were down on their luck and had fallen on hard times.

Interdiscuplinary Study in Consumer Behaviour Essay Example for Free

Interdiscuplinary Study in Consumer Behaviour Essay With the development of a consumer society, increasing consumer power in the market place, the growth in marketing, advertising, sophisticated consumers, ethical consumption etc, consumption is recognized as central to modern life. Thus it entails to go into a depth of the different approaches to consumer behaviour. Many human sciences give a variety of reasons to explain why a consumer behaves in a particular way in a given situation. Studies of consumption investigate how and why society and individuals consume goods and services, and how this affects society and human relationships. These are found in many social sciences such as economics, psychology, sociology, etc. The present study tries to investigate these theories based on consumption and consumer behaviour and how far these are interlinked as well as different from one another. It is also aimed at studying the relevance of these theories with the help of primary data and research. The purpose of this study is to find out whether there is some interlink between the various theories and approaches given by different economists, psychologists and sociologists. The hypothesis framed for the research is that Consumption is greatly influenced by the income factor. The data used in the study was mostly secondary in nature from the internet and reference to several books. The theories of consumption studied for this purpose are the demand theory, indifference curve analysis, revealed preference theory, Keynes’ consumption theory, permanent income hypothesis, relative income hypothesis, life-cycle hypothesis, Maslow’s Hierarchy of needs, the sociological theories of consumption given by G. Katona, Ruby Turner Norris and the theory of Conspicuous consumption given by Veblen. An attempt has been made to study consumer behaviour with the help of primary data collected from a sample of 40 people from 4 categories namely, students, housewives, employees and businessmen. They were asked to rank the different factors that influence their buying behaviour. The influential factors given in the questionnaire were taken from the consumption theories given in economics, sociology as well as psychology as given above. From the analysis of both primary as well as secondary data, it was found that majority of people give importance to their income level. However, it is also found that, besides income factor, people also think about sociological and psychological factors while purchasing a commodity such as security, safety, fashion, advertising, comforts and prestige issues. As given in the Sociological theories of G. Katona and Norris, it was seen after the primary data analysis that the economic theory of consumption lacks such social structural variables. Thus it is concluded that in the construction of any consumption function or theory – for a particular product, for a particular class of products, or for consumption in general – not either economic or sociological or psychological variable is to be regarded as the key determinant. Different combinations of all these three enter into different statements of consumption functions at different situations and time periods according to the necessity or urgency of the wants.

Examining the Legal Issue of Copyright

Examining the Legal Issue of Copyright Introduction This essay is on the topic of Intellectual property and will be split into four parts. It will explain the law regarding copyright in the UK by using the Copyright, Designs and Patent Act 1988 (CDPA 1988), it will begin by discussing the legal terminology original work and why copyright exists and the regulations of copyright in detail with regards to fixation and originality, the definition of fixed in line with the current law, the skill, labour and judgement test including cases to support the claims and economic rights that an owner has. Secondly by explaining the 3 main types of original work that are granted protection by this act and in addition, it will shed light on what consists of copying of the work and alternatives to copyright including adaptation of the work and what the copyright infringes. The source used to gain this information is from Contemporary Intellectual Property: Law and Policy, By Hector L. MacQueen, Charlotte Waelde, Graeme Laurie and Abbe Brown. The thir d part of this essay will critically evaluate the impact of internationalism in terms of digital technologies. It will assess the new challenges this presents Intellectual Property (IP) in terms of new innovations that will affect the consumers and industry. furthermore, it will discuss the impact this has on Intellectual property by using the Gowers Review of Intellectual Property to source the knowledge. Lastly the essay will examine the case on Liam and Aleesha in terms of copyright and explain what infringements of copyright have occurred using relevant cases to reinforce the arguments that are made. Main body Copyright in its early stages was implemented to control the output of printers once the technology was invented and recognised in the 15th century. Before the era of printing, writing could only be duplicated by the process of manually copying out the work [1]. The UK formed the Copyright, Designs and Patent act 1988 to give creators of literary, dramatical, musical and artistic work ranging from sound recordings, films and broadcasts [2] protection and the right to regulate the way their work is used. For copyright to exist in work it must be original and fixed. The fixation or fixed term means that the work must be recorded in writing or otherwise [3] this includes and form or notion of code, either by hand or otherwise and regardless of the method by which or medium in which it is recorded [4]. Original or originality is not defined by the CDPA 1988, it is required that the work was originated from the author and not copied from another work. The work does not have to be different, it depends on the way the work was created. For example, a mobile phone application that embodies the same idea as another however has a different look and feel to the user is considered as original work. For copyright to exist in terms of literary, musical, dramatical, or artistic work, it must qualify as work. Work is determined by the amount of skill, labour and judgement that has gone into creating it. This means that the author of the work is the individual who has put the most skill, labour and made the most judgements on the work. However there have been some discrepancies in this as there are differences in opinion on how much skill, labour and judgement is required. In terms of case law for work one must look at the case of Hyperion records v Sawkins. Sawkins (S) had created new performing editions of four of his works. In total this work took 300 hours and that involved S making 3000 editorial interventions to the works. In October 2002, Hyperion Records (H) produced a CD featuring performances of the four performing editions that Sawkins created. H said that S was not entitled to copyright in these editions as editor should not obtain copyright in non-copyright work. It was held that the skill and time that S invested in making the works was enough to make them original, H had infringed S as he did not identify him as author. There are 8 types of original work recognised by the CDPA 1988. Literary works, dramatic works, musical and artistic works, sound recordings, films, broadcasts and typographical arrangements of published editions but for this essay we will only be explaining the main 3. Literary work is any work other than a dramatic or musical work, which is written, spoken or sung [5]. Literary works can consist of technological work such as software, databases and computer programs. In Anacon Corp Ltd v Environmental Research Technology it was found that circuit diagrams from which circuit boards are made into literary work as well as artistic work as the writing on the diagram is meant to be read and not just to be appreciated by eye. Dramatical work includes a dance or a mime [6]. However, there is debate on whether this includes television and films for example in Norowzian v Arks Ltd (N0 2) where N had created a film called joy which includes a man dancing with a plain backdrop, which was edited heavily. The defendants produced an advert for Guinness called anticipation that used a man dancing in a similar fashion and was edited similarly. It was held that the work couldnt be dramatic work as it cannot be performed in front of a live audience. Musical work consists of music, exclusive to any words or action intended to be sung spoken or preformed with the music [7]. A small number of notes and chords are enough for copyright protection as seen in Lawson v Dundas the four-note theme is enough to be protected by The CDPA 1988. Once original work is present, one must then determine authorship and ownership of the work. Authorship is the person who creates the work.[8] In the case of Walter v lane (1900) it was said that the author is the individual who has extended the necessary effort, skill and labour in creating the work. There is also a possibility of joint authorship where two or more authors have collaborated and the contribution of the authors cannot be distinguished.[9] Ownership of the work generally falls to the author who is in most cases the first owner of a copyright work. A clear example of this can be seen in Griggs group v Evans (2005) where Griggs who are the manufacturers of the footwear Doc Martens they hired an ad agency to create a logo which would combine two of their existing trademarks Airwair and Dr Martens, Evans was hired by the agency to create the logo. Evans assigned copyright to a Australian company who used it on their own products. It was held that the right to use the logo and to exclude others from using it belonged to the belonged to the client and not the designer. The CDPA 1988 states that the copyright owner has the only right to copy the work, issue copies of said work, rent out or lend the work to the public, preform, show or play the work in public, communicate the work in public and to make an adaptation of the work.[10] Copying the work comprises of the reproduction of the work in any material form and storing of the work in any medium by electronical means for instance taking a picture or scanning a document or recording live music to a digital format equates to copying. On the other hand, similar works do not infringe copyright as there must be a connection that the work is derived from the claimants. In Francis Day Hunter v Bron the defendant had produced a song called Why the claimant argued that the first 8 bars in the song were reproduced from their son called in a little Spanish town. The courts held that there must be a causal connection between the works and that the similarity must be sufficient and objective. Adaptation in terms of copyright differs from copying as it only applies to the literary, dramatical and musical works. This includes dramatisations and translations. Although there is a connection with copying, it is not as specific as adaptation. In Harman pictures v Osborne the claimants argued that the film created by Osborne copied a historical book, though there were parts that were different it was held that the similarities of incidents and situations suggested that they were both based on the same historical event. Impact of internationalism of digital technologies As we know the laws on copyright are outdated and are not up to par with this time as technology grows and we approach the age of online information, where ideas are spread internationally and very quickly. It is important that the IP laws are adequate to deal with the ever-growing digital technology as there are more ways to share goods and services. For example, the effect on the film and music industry due to growing technologies is having a great impact as films and music are pirated online and are accessed very easily and shared. This is causing a great loss for the industry as much as 20% of their annual turnover[11]. This creates challenges as it will affect jobs in addition it will have a detrimental effect on the industry in the UK as it is cheaper to reproduce this work using the internet which does not require cost. An argument made by Andrew Gowers in Gowers Review of Intellectual Property is that the infringement on IP in the digital world need to be more stern as the pe nalties are softer for digital cases then civil cases[12]. This will prevent IP infringement digitally where it is most common also we can give the power to enforce IP infringements to trading standards. Since the creation of the CDPA 1988 there have been numerous technological advancements, the problems this creates for IP are that it is easier now to copy or reproduce work and share it then it has ever been making it easier for the circulation of reproduced or counterfeit goods like songs in the form of MP3 files without the owners permission. In addition, new technologies do not fit into the scope of original work that is stated by the CDPA 1988 this causes confusion as it is not alike standard definitions of work, for example genetics or medicine. Copyright for Liam Aleesha Firstly, originality and fixation must be established in the work for copyright to exist, it can be determined that Liams work is fixed as he records the music and has it uploaded to the bands website to share to his fans, it can also be determined that the work is original as Liam writes his own music and lyrics. Secondly, the work is determined by the Skill, labour and judgement test. In terms of Liam he has put his skills of writing the music and lyrics for the band and has shown that he put is the labour as well as he writes all the bands songs, only a small portion is provided by the other members which includes Aleesha. From this information, it is determined that Liam is the author of the work as he is putting in the most effort, skill, labour and judgement into it. As seen in the case of Walter v Lane (1900) where it was said that the author of a work is one who extends the necessary effort, skill, labour and judgement in the work. Aleesha would not be a joint owner as her contribution is distinguished as a small portion. From this It can easily be decided that Liam is the owner of the music and lyrics. Thirdly it must establish whether there has been a copying of the work. In this case Robbie, has copied Liams work as he has digitally sampled his music without the right of the owner (Liam) it states in the CDPA 1988 that copying of the work includes the reproduction of the work in any material form. It can be said that there is a casual connection as the music is sampled directly from Musik Dynamites work. In addition, the case of Lawson v Dundas further reinforces the argument as it was established that as little as 4 chords or notes are sufficient for copyright. Also from the information gathered it can establish that the owner (Liam) has not given consent to Robbie or Aleesha for them to use or sample his music as it doesnt state otherwise. From this information, a strong argument is made that an infringement of copyright has occurred. Conclusion In conclusion, this essay has thoroughly clarified on what copyright is in terms of the CDPA 1988 and given relevant cases to illustrate points made demonstrating legal knowledge. It has explained legal terminologies and defined them in junction with the CDPA 1988 and has clearly described what copyright infringes. Furthermore, it has discussed the growing impact of internationalism in digital technologies. In summary from the research conducted the law regarding IP needs updating in terms of new technological advancements to keep up with the protection of work as It would affect sectors such as the film and music industry negatively. Finally, the essay has examined the case of Liam v Aleesha and Robbie and has concluded that Aleesha and Robbie have infringed copyright by sampling music by Musik Dynamite without the right of Liam who is the author and owner of the music. Bibliography Books Gowers A, Gowers Review of Intellectual Property, HM Treasury 2006 MacQueen H, Contemporary Intellectual Property: 2nd edition Law and Policy 2010 Patterson, L. R., Copyright in Historic Perspective, Vanderbilt University Press, 1968 Cases Anacon Corp Ltd v Environmental Research Technology [1994] FSR 659 Francis Day Hunter v Bron [1963] Ch. 587 Griggs group v Evans [2003] EWHC 2914 (Ch) Harman pictures v Osborne [1967] 1 WLR 723 Hyperion records v Sawkins [2005] EWCA Civ 565 Lawson v Dundas [1985] The Times 13 Norowzian v Arks Ltd Anor (No. 2) [1999] EWCA Civ 3014 Walter v Lane [1900] AC 539 Legislation The Copyright, Designs and Patent act 1988 [1] Copyright in Historical Perspective, p. 136-137, Patterson, 1968. [2] The Copyright, Designs and Patent act 1988 s.1(1)(a) [3] The Copyright, Designs and Patent act 1988 s.3 (2) [4] The Copyright, Designs and Patent act 1988 s.178 [5] The Copyright, Designs and Patent act 1988 s. 3 [6] The Copyright, Designs and Patent act 1988 s. 3(1) [7] The Copyright, Designs and Patent act 1988 s. 3 [8] The Copyright, Designs and Patent act 1988 s.9 (1) [9] The Copyright, Designs and Patent act 1988 s.10 (1) [10] The Copyright, Designs and Patent act 1988 s.16 [11] Andrew Gowers, Gowers Review of Intellectual Property p.3 [12] Andrew Gowers, Gowers Review of Intellectual Property p.4

Cloning Essay -- essays research papers

Should Human Cloning be Legal?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Cloning captured the public’s attention when Scottish scientists startled the world in July of 1996 when they announced the birth of a sheep named Dolly which they had cloned from the nucleus of an adult mammary cell and a sheep egg. Ever since this spectacular event occurred people have been thinking about the possibility of cloning humans. What would a clone be like? His/her physical appearance would be the same as the person he/she was cloned from, but depending on the society it would be brought up in it’s personality would be totally different. Many people in this decade believe that human cloning should be illegal for many different reasons, but there are many people who think it should be legal. Human cloning is a very sensitive subject with its advantages and disadvantages.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Strictly speaking embryo cloning is a technique used by researchers and animal breeders to split a single embryo into two or more embryos that will have the exact same genetic information (Wall 1117).† â€Å"The procedures used in cloning human embryos are very similar to the cloning of animal embryos, except for the zona pellucida. The zona pellucida is a protective protein and polysaccharide membrane that covers the internal contents of the embryo, and provides the necessary nutrients for the first several cell divisions that occur within the embryo. Several sperm cells and mature egg cells are gathered from donors at fertility clinics, and are combined in a petri dish using in vitro fertilization procedures to form an embryo. In an alternate process, already produced embryos are gathered from fertility clinics. The acquired embryo is placed in a petri dish and is allowed to develop into a mass of two to eight cells. Next a chem ical solution is added to the zona pellucida that covers the embryo. After the zona pellucida is dissolved, the cells within the embryo are freed. These two to eight cells are collected by researchers and put in separate petri dishes (Hale 83).† â€Å"The cells are then coated with an artificial zona pellucida. The individual cells are then considered new embryos, all of which share the same exact genetic information. In effect at this point the science... ...ugh many of the people we know in our daily lives. Cloning will be a big issue in the future kind of like the way abortion is now. Cloning is a very sensitive subject with its advantages and disadvantages. Works Consulted â€Å"Should cloning be banned?† Reason Online. January 2000. http://www.reason.com/biclone.html. Fackelmann, K.A. â€Å"Researchers ‘clone’ human embryos.†   Ã‚  Ã‚  Ã‚  Ã‚  Science News of the Week, Vol. 144:276. Hale, W.G. The Harper Collins Biology Dictionary. Harper   Ã‚  Ã‚  Ã‚  Ã‚  Perennial. New York, New York, 1991:83 Nash, Madeleine. â€Å"The case for cloning.† Time Feb.9, 1998: Vol. 151. No. 5. Wachbroit, Robert. â€Å"Genetic encores: The ethics of human Cloning.† http://www.puaf.umd.edu/ippp/Fall97Report/cloning.htm. Wall, James ed. â€Å"Cloning of embryos stirs ethical   Ã‚  Ã‚  Ã‚  Ã‚  Concerns.† Christian Century, November 10, 1993:1117. Watson, Traci. â€Å"Seeking the wonder in a mote of dust.†   Ã‚  Ã‚  Ã‚  Ã‚  U.S. News & World Report, October 3, 1994:66 Wilmut, Ian. â€Å"Cloning for Medicine.† Scientific American. December 1998. http://www.sciam.com/1998/1298issue/1298wilmut.html.   Ã‚  Ã‚  Ã‚  Ã‚   Cloning Essay -- essays research papers Should Human Cloning be Legal?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Cloning captured the public’s attention when Scottish scientists startled the world in July of 1996 when they announced the birth of a sheep named Dolly which they had cloned from the nucleus of an adult mammary cell and a sheep egg. Ever since this spectacular event occurred people have been thinking about the possibility of cloning humans. What would a clone be like? His/her physical appearance would be the same as the person he/she was cloned from, but depending on the society it would be brought up in it’s personality would be totally different. Many people in this decade believe that human cloning should be illegal for many different reasons, but there are many people who think it should be legal. Human cloning is a very sensitive subject with its advantages and disadvantages.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Strictly speaking embryo cloning is a technique used by researchers and animal breeders to split a single embryo into two or more embryos that will have the exact same genetic information (Wall 1117).† â€Å"The procedures used in cloning human embryos are very similar to the cloning of animal embryos, except for the zona pellucida. The zona pellucida is a protective protein and polysaccharide membrane that covers the internal contents of the embryo, and provides the necessary nutrients for the first several cell divisions that occur within the embryo. Several sperm cells and mature egg cells are gathered from donors at fertility clinics, and are combined in a petri dish using in vitro fertilization procedures to form an embryo. In an alternate process, already produced embryos are gathered from fertility clinics. The acquired embryo is placed in a petri dish and is allowed to develop into a mass of two to eight cells. Next a chem ical solution is added to the zona pellucida that covers the embryo. After the zona pellucida is dissolved, the cells within the embryo are freed. These two to eight cells are collected by researchers and put in separate petri dishes (Hale 83).† â€Å"The cells are then coated with an artificial zona pellucida. The individual cells are then considered new embryos, all of which share the same exact genetic information. In effect at this point the science... ...ugh many of the people we know in our daily lives. Cloning will be a big issue in the future kind of like the way abortion is now. Cloning is a very sensitive subject with its advantages and disadvantages. Works Consulted â€Å"Should cloning be banned?† Reason Online. January 2000. http://www.reason.com/biclone.html. Fackelmann, K.A. â€Å"Researchers ‘clone’ human embryos.†   Ã‚  Ã‚  Ã‚  Ã‚  Science News of the Week, Vol. 144:276. Hale, W.G. The Harper Collins Biology Dictionary. Harper   Ã‚  Ã‚  Ã‚  Ã‚  Perennial. New York, New York, 1991:83 Nash, Madeleine. â€Å"The case for cloning.† Time Feb.9, 1998: Vol. 151. No. 5. Wachbroit, Robert. â€Å"Genetic encores: The ethics of human Cloning.† http://www.puaf.umd.edu/ippp/Fall97Report/cloning.htm. Wall, James ed. â€Å"Cloning of embryos stirs ethical   Ã‚  Ã‚  Ã‚  Ã‚  Concerns.† Christian Century, November 10, 1993:1117. Watson, Traci. â€Å"Seeking the wonder in a mote of dust.†   Ã‚  Ã‚  Ã‚  Ã‚  U.S. News & World Report, October 3, 1994:66 Wilmut, Ian. â€Å"Cloning for Medicine.† Scientific American. December 1998. http://www.sciam.com/1998/1298issue/1298wilmut.html.   Ã‚  Ã‚  Ã‚  Ã‚  

Percy Jackson book report Essay

The book is funny and witty, effortlessly matching old mythology and tradition with modern culture in a way that makes the book engrossing and unpredictable. There is talk of gods having affairs with mortals, and quite a bit of married gods having affairs with other gods. In the following book report, I will first introduce the plot of the story. Then, I will talk about the writing of the author and the strengths and weaknesses of the books. After that, I will talk about the main character and other major character in the books and talk about what I have learnt after reading. At the end, I will share my overall response to the book and my recommendation. Percy Jackson, the main character, is 12 years old. He is a kid who lives with his single mother and is unsure of his dad’s identity. He has ADHD. He has a rep for getting in trouble. With help from his best friend Grover and his favourite teacher Mr. Brunner, he finds out that there is a perfectly good explanation for all of it, that he’s not a bad kid, and that he comes by everything quite naturally. He is actually a half-blood of a demigod. His father is Posiedon, God of the Seas, and Percy has some control over water. After a creepy math teacher transforms into a monster and tries to eat him, Percy’s friend Grover takes him to Camp Half-Blood. Soon after, he must go on a quest with Grover and Annabeth, daughter of Athena, to take back Zeus’s stolen lightning bolt and prevent a catastrophic war between the gods. On the basis of this short description, you can see that there are a lot of superficial similarities to the Potter books. â€Å"The Lightning Thief† is all a little Harry Potter in concept – an orphan, with supernatural powers, who has two friends (one brainy girl and one geeky sidekick), several envious rival students. He goes to a special school and he is highly skilled at the school’s favorite sport, chariot racing. He is personally charged with a quest that, should he fail, will result in the ruin of the world. The author, Rick Riordan, spends the first half of the book exploring the nature of Camp Half-blood and the various demi-god kids, as well as dropping hints about Percy’s parentage. Although, given the number of times he makes water misbehave, you would think someone would have guessed. Fortunately the plot picks up about halfway through, when the whole matter of the bolt and thieving gods comes into play. I think the author has done a great job. Rick Riordan almost seems to be teasing the audience with these similarities to Harry Potter. But he’s having fun with it, and his style and humor are refreshing, humorous, and quite different from Rowling’s. He gets to the point much faster. The action starts on page 1 and never stops! Riordan has a snappy fast-moving style, and he peppers the story with plenty of plot twists and monstrous action. And he has quite a sharp-edged sense of humor. The snarkiness is a bit annoying in the first chapter, but after that, he has produced some fun dialogue. Also, he does a good job with the concept of gods and monster surviving over the center of the western world, as well as spooking some fun at the gods’ behavior. For example, Dionysius whining â€Å"Father loves to punish me. The first time, Prohibition. Ghastly! † Besides, I found Percy rather annoying in the first couple chapters, but Riordan slowly evolves him from a rather bratty, rebellious kid to a reluctant hero. Annabeth is an excellent counterpart to Percy, smart and measured if rather haughty in attitude, while Grover is a likable little sidekick who is chewing his nails over the possibility of losing his job. And the supporting cast of gods and demigods is pretty well-drawn, especially the paternal Chiron and embittered Luke. After reading this book, I appreciate to Percy’s courage. Although he is only twelve, he is powerful and strong. Percy Jackson has to protect himself and also his friends from the many monsters that dared to attack him. He tries his best to prevent a war between the gods and take back Zeus’s stolen lightning bolt. It reminds me that we always suppose that we are too young to make some great accomplishments, but, actually, we can do it if we believe we can! Even though the book doesn’t express its message obviously, through reading the story, I learn that we have to know about our weakness and strength. Also, we can’t finish something if there are only you. Just like the book, Percy defeats all the Greek monsters and prevents the war successfully with the help and support from his friends, Grover and Annabeth. We need our friend’s pleased help to overcome difficulties. All in all, I was amazed at how much I enjoyed this book. The book is full of magic, and mystery, and adventure. At first, I only began to read the stories because I had watched this book’s movie version at the cinema. The movie is marvelous. And to me, a book must be worth-seeing as it has to be good enough to put into a film. As I went farther along in the book, it became more exciting. I was constantly desired to read this book more and I found it hard to put down. It has so much going on. You could revolve your entire curriculum around for quite some time. I would immerse myself in completely. In fact, I was in tears at the end of the book not because the ending was depressing which went deep into my heart. It leaves the door open for more adventures from Percy Jackson. Anyway, I like this book as it has a little bit of everything: danger, heroes, villains, action, mystery, and adventure. It’s funny sometimes, and scary sometimes, and powerful sometimes, and even sad sometimes, but it’s a story that will keep you turning the pages as fast as your eyes can read the words. It is a whole new and fun way of looking at the Greek myths. I highly recommend this book to all of you!

Nazi Control Over Germany

Identify Nazi opposition: 1.) Communists 2.)Social Democrats 3.)Anti Nazi teachers and University Professors 4.)Roman Catholic Church 5.)Protestant Churches 6.)Jews and other persecuted minorities (once purges started). 7.)Lander (State parliaments) 8.) trade unions How Nazis dealt with opponents? To ensure political dominance, Nazis wanted to make Germany into a one-party state. To wipe out communists, Hitler used Reichstag fire as an excuse of a â€Å"communist uprising† to disable much of the communist activities. It is to be noted that anti-communism was a major part of Hitler's ideals. Social democrats were disabled as well. Lander were allowed to exist but lost all power. Anti Nazi teachers and university professors posed the threat of spreading an anti-Nazi message. The Nazis even wanted subjects to be taught according to their principles. These people were kept in check by fear of Gestapo. Roman Catholic church was a political threat and the church also had influence over people. In 1933, Hitler signed a concordat with Pope and said Nazis will not interfere with church affairs if church stayed out of politics. However Nazis broke concordat when it dissolved catholic youth league as it was a rival to Hitler youth. Catholic schools closed down after protestations. By 1937, church conflicting with Nazis and pope Pius XI issued Encyclical saying that Nazis were â€Å"hostile to Christ and his church†. Hitler angered and 1000's of priests +nuns sent to conc. camps. Protestant churches were attempted to merge into Reich church. Failed and after protests, people sent to conc. Camps. Jews sent to conc. Camps and murdered. Trade unions banned and replaced with German labour front which reduced pay and took away right to strike How did Nazis use culture and mass media to control people? After Nazis gained power, all forms of media were controlled by Joseph Goebbels. This made sure that no anti-Nazi ideas were publicized. Jewish works were banned as part of the anti-Semitism policies. By these methods, the way the German people thought could be adjusted to the Nazis' will. Culture was used in the way of making Aryan people feel that they were a superior race. Cultural Activities of racial minorities were mostly banned so that they would have no effect on Aryan ideals. Why Nazis persecuted many groups? The Nazis had an ideology of â€Å"racial purification†, whereby only the Aryans were to be in Germany. Therefore Jews and other small races were sent to conc. Camps. Jews were also persecuted because they owned many shops and businesses (once they were removed, these jobs given to Aryans). Mentally and physically disabled people were also persecuted because the Aryan race was supposed to be â€Å"perfect†. Homosexuals were persecuted as well. Was Nazi Germany a totalitarian state? A totalitarian state is a system of govt. where there can be only one party and the people are totally devoted to the state. Nazi Germany was definitely one of these because: 1. One party state: only the national socialists allowed existing. Power taken away from Lander. 2. Civil service purged of â€Å"enemies of the state† until it was fully reliable. 3. Trade unions banned 4. Education system controlled and Nazi ideals fed into children by Hitler youth. 5. Communication and media controlled. 6. Economic control by which unemployment was reduced and Germany brought close to self sufficiency. 7. Religious control 8. People monitored by Gestapo so that if a person was anti-Nazi, he would be taken away. 9. Anti Semitism and other forms of unjustified racial discrimination.

Their IS Confusion

Their IS Confusion There Is Confusion Jessie Fauset's novel There Is Confusion explores the limited oppurnities of colored women in 1924, and how they struggled to make better lives for their families as well as themselves.This book explores the period of the Harlem Renaissance when families migrated from rural areas of the south to the north for a better life. It also showed how diverse Harlem was during this period because of the migration. One women in particular I will focus on in this essay is Joanna Marshall. Joanna was interested in the field of asthetics and began to build her life around what she loved best , which was music and art.Joanna was the youngest of four siblings and her father's favorite. Her father Joel Marshall always had high expectation for Joanna and knew she would be someone special someday. Joanna resembled her father and everything that Joanna wanted to acheive he admired that even though his goals in life were never accomplished, because he had to provide for his family.Ima ge:Thereisconfusion.jpg cropped and enhanced by...

Minorities in India

Minorities in India Human rights are violated everyday. These rights are taken away by people who are jealous, greedy or racist. Minorities are ethnic people who have not changed with time hugely. So they end up being poor and continue to live in the old ways, using old things. In India the minorities are mistreated and their rights are taken away because they are poor, as they have not changed and they are in low level professions.Organizations like the AIACHE (All India Association for Christian Higher Education) and the CRY (Child Relief and You) want to put children in good quality schools. They want the children to get educated and then use this knowledge to come back to their home towns and help the poor and the needy and also to help their town to grow.A long time ago, from 1945 to 1947, when the British left India, there was difficulty about finding a leader for the country.A map of the minority religions of India (excludin...

Teaching across cultures Essay Example | Topics and Well Written Essays - 500 words

Teaching across cultures - Essay Example Religion plays an important role in the lives of African Americans and this set out a sense of mutuality among the members. The common language helps in eradicating the communication barriers. Other secondary cultural characteristics like sense of thinking, moral values, food preferences etc. help in upholding a comfortable environment to the male and female members as they share common cultural values. Gender and learning abilities play an important role within the chosen group. The female members of the group have more stress of keeping a balance between their family and career life. They face an additional stress of raising children and nurturing them keeping their educational and learning needs in view. All three members have children; however, females have more responsibilities to attend the children’s need than men. Moreover, the learning skills are important as all the members have limited time to understand and learn the lessons. The male member has to allocate time be tween job and education while females have families to be taken care of as well. The emphasis of African American culture on respect and moral values requires careful consideration when referring to elderly population, females etc.

Growth in Health Expenditures Article Example | Topics and Well Written Essays - 1000 words

Growth in Health Expenditures - Article Example Apparently, between 1993 and 2003, the health care expenditures in the US grew from a total of $900 billion to $1.7 trillion which was equivalent to an increase from 13.3% of the total gross domestic product (GDP) to 15.3%. When these values were compared to the health expenditures in Canada, Germany, Japan and the UK, it was realized that the US had the highest health care costs and expenditures (Zuckerman and McFeeters, 2006). The table below summarizes the trends in health care expenditures. As noted by Rettig (1994), new and improved medical technologies have been seen in areas such as: the development of new treatments for terminal conditions such as AIDS, cancer and diabetes; treatments related to untreatable acute conditions such as coronary artery bypass graft; clinical progress for patients with mental illness and/ or substance abuse; procedures for treating secondary diseases within a disease, for example erythropoietin which treats anaemia in dialysis patients. Moreover, technological equipments such as sonogram machines and dialysis equipment together; new procedures such as laproscopic gall bladder surgery and new treatments such as statins to control cholesterol and cardiac catheterization have also contributed largely to the total health care spending. Despite that, it was noted that technology can equally increase the standard costs for treatments and it can also lower the standard unit costs of treatments so as to allow more people to benefit from the treatments being offered. For example, cardiac catheterization has increased the standard cost of treatments since it is highly used to treat and monitor heart attacks while laproscopic gall bladder surgery has lowered the unit cost of treatment so as to allow more patients to undergo the procedure as compared to using the open gall bladder surgery (Zuckerman and McFeeters, 2006). The aging population has been increasing rapidly over the past few

New Independent School in the Middle East Essay

New Independent School in the Middle East - Essay Example As a part of the dominant culture’s changes upon the local inhabitants, the colonial authorities often enforced mandatory modern education for all children within a given age range. In the modern world, it is common for children to attend compulsory education centers beginning at approximately age 5 or 6 and continuing through the primary levels, meaning through age 11 or 12. This means that they are required to attend school when between these ages. Some countries also enforce school attendance through the lower secondary grades to age 15 or 16 although the school is available to students through age 17 or 18. The enforcement of an education was not as much of a change in the Middle East as might be thought by outside interests primarily because they had already established Koranic schools. However, instead of being a means of finding common ground, â€Å"this alternative system was in competition with the colonial one not only because of its religious reference but also bec ause of its opposition to Western cultural hegemony† (Akkari, 2004). Within the Muslim society, a school intended for religious enlightenment has a sharply different role than school intended for modern development of the culture. The primary role of the Koranic school is to educate children in their proper, traditional roles and to enforce upon them the beliefs of their parents and ancestors. â€Å"The Koranic school, with lessons in Arabic by a teacher of religion known as Malam, Fakih, is an essential part of the upbringing of a Muslim child† (Akkari, 2004).

Introduction to Business and Finance Essay Example | Topics and Well Written Essays - 3750 words

Introduction to Business and Finance - Essay Example Accounting scandals is becoming a norm with a number of recent accounting scandals that come into sight each year. These accounting scandals has shaken the economy and costed the stakeholders a great deal. In the last couple of years a few most talked about scandals were Enron, WorldCom, Barings, Parmalat and Hollinger, where billions of dollars accounting fraud happened. Not only did the corporations and accounting firms came into question but also the performance of stock exchanges, rating agencies, financial journalists, bankers and lawyers was questioned (Richard Dyson). These scandals have resulted in firms closing, thousands of people being jobless and many losing money in stocks, apart from the stock exchange crash. Public trust in the accounting and reporting procedures has been shattered. People are especially reluctant to invest their money in stocks, which results in stock exchange fall. Corporate Goverance is responsible to manage certain laws in the corporation and if not done effectively can result in loss for the firm. Corporate Governace in the firms is highly blamed when talking about the financial scandals. As cases of scandals, bankruptcy, accounting frauds are unfolding, the concern over the transparency of the financial reports is increasing. "All these companies used financial gimmicks to inflate their cash flow and profits in order to jack up their share prices and thus accumulate wealth. The investors are confronted with large, well-known companies, disappearing almost overnight. In the process not only small investors but supposedly smart, sophisticated investors have been fooled as well" (B. S. Rao). Many CEOs, CFOs and other related officers have been acquitted or are under trial as a result. One example of this is the recent indictment of Jeffrey Skilling, who was given lifetime prison and has to pay $80 million in fines (CNNMoney). Not only this th e stocks of these firms have gone to decline and now no more exists. The outcome of the other scandals is not different as well. The government after all this chaos has been active in taking some steps to stop these practices. In this regard the Securities and Exchange Comission is responsible for ensuring the transparency in the company. Steps are taken to guarantee proper monitoring of management and all the included pesonnel. Accounting Profession Although most of the accounting firms claim that their duty was only to review the finances, but the indictment of Arthur Anderson has led a question to the credibility of these firms. In this regard the the watchdog role of the auditors comes into question. The firms are now accused of overcharging in order to make the report much more attractive in order to gain profits and rise the stock prices. A report says that the "US government loses over $300 billion each year due to organized tax avoidance" prepared by the accountancy firms (Prem Sikka). There were days when the transparency of the markets highly depended on the accounting firms. Today people and investors have grown suspicious towards their perforamance. Here a question of how to regain the lost pride lies ahead of them. Other Factors Apart from blaming the corporations and the accountants for these scandals, certain other factors are to be blamed as well. These ould be the financial jouranalists, the lawyers

How strongly has colonialism shaped the trajectories of post-colonial Essay

How strongly has colonialism shaped the trajectories of post-colonial African countries Discuss using one or several examples - Essay Example Would they have been richer or poorer today? This question has elicited debate for more than five decades, and also instigating exciting research by economic historians in colonial archives, an aspect, which has put the debate on a sound empirical footing. Some study findings have shown evidence of improved economic development outcomes within the period of colonialism. For instance, in the British West Africa, there was an increase of real wages (Frankema and Van Waaijenburg 2005, 34). Additionally, the status of military recruits in British East Africa and Ghana indicated that the height was increased during the colonial period, a pointer of increasing prosperity. Other arguments are that colonial rule was predatory. Should we consider this as evidence that colonialism was good for development in African countries? It should be considered that assessing the impact of colonialism does not only involve just looking at raw numbers, but also taking into consideration the counterfactual . We need to think on what the trajectories of African societies would have been at present if colonialism did not take place. Reid, (2002) observe that most African countries saw a steady rise on incomes during the colonial period. Africans reaped the benefits in development of infrastructure such as roads and railways as well as the mining technology. Colonization also led to deep integration of these African states into the World Trade Center and the world economy (115). However, it is still unclear n the extent by which such developments were contributed by colonialism and whether the development would have happened anyway due to the wake of global trade expansions or any other reason. The fact that there was a rise in the standard of living does not imply that all people’s living standards improved. Just taking an example from South Africa, the immiserising impact of land expropriation and establishment of â€Å"dual economies† on

AMERICAN HISTORY SINCE 1900 Assignment One Essay

AMERICAN HISTORY SINCE 1900 Assignment One - Essay Example He never looks up towards the heavenly things that are placed before him. He is offered a crown of jewels and a place in Paradise, but he will not stop for a moment to look up from his decidedly earthly labors to consider the benefit of the riches offered to him. In the novel, Bunyan used the character to symbolize those that are trapped in the most mundane and unpleasant aspects of earthly existence. He used the Man with the Muck Rake as a type and a warning to those who become too absorbed in the worldly to contemplate the heavenly. President Roosevelt’s remarks indicate that he felt the muckrakers of his time had their place in the world and that they served a useful purpose in society. He indicated that he believed that all evil should be exposed at all times. He mentioned that he supported the dogged pursuit of evil men by the just that would shed light on their evil deeds. So in some ways, it appears as though the muckrakers had the tacit approval of the president. But t he very name casts doubt on the amount that President Roosevelt really believed the muckrakers could help. The name, based on its origins, indicates a person or people that are very good at one thing and one thing only. They are dedicated to seeing only the basest of worldly pursuits. The name also seems to indicate that he felt the muckrakers were individuals of limited vision. They were, in essence, so busy raking muck that they never could bring themselves to look about at all of the good that was happening around them. They were more interested in seeing abuse and scandal at every turn than they were in reporting or commenting on things as they really were. This attitude towards the muckrakers seems to indicate that President Roosevelt did not believe that all of the reforms the muckrakers supported needed to result in legislation on in strict regulations on industry. In the case of the meat packing industry, he seems to be holding reform as a threat over the head of the industr y leaders. In essence, he is saying that if you don’t clean yourselves up you will destroy your own business and exports of your own products. Regulate your own affairs or they will be regulated for you. History shows that the industry did not regulate itself, resulting in the Meat Inspection Act of 1906 (Coles, 510). Part of the reason the President was so supportive of this piece of legislation is it was greatly demanded by the public. Work Cited Bunyan, John, and James Henderson Thomas. Pilgrims's Progress in Modern English. Chicago: Moody, 1964. Print. 7 Coles, Jessie V. The Consumer-buyer and the Market. New York: Arno, 1978. Print. 510 The events leading to World War I were largely the result of a system of reciprocal treaties that bound one country to enter a conflict if their allies were threatened. Like dominoes falling, on country after another entered the war after the assignation of the heir of the Austro-Hungarian Empire. The Austro-Hungarian Empire declared war on Serbia. Germany was duty bound to support the Empire because of a mutual assistance treaty. But on the other hand, Russia, France, Great Britain and eventually Italy entered as allies against the Germans and Austrians. If everyone was to honor their obligations to the others, then everyone had to fight. The United States was committed to remaining neutral during the conflict. This was a position that was very popular in the United States and actually helped

Introduction to Business and Finance Essay Example | Topics and Well Written Essays - 3750 words

Introduction to Business and Finance - Essay Example Accounting scandals is becoming a norm with a number of recent accounting scandals that come into sight each year. These accounting scandals has shaken the economy and costed the stakeholders a great deal. In the last couple of years a few most talked about scandals were Enron, WorldCom, Barings, Parmalat and Hollinger, where billions of dollars accounting fraud happened. Not only did the corporations and accounting firms came into question but also the performance of stock exchanges, rating agencies, financial journalists, bankers and lawyers was questioned (Richard Dyson). These scandals have resulted in firms closing, thousands of people being jobless and many losing money in stocks, apart from the stock exchange crash. Public trust in the accounting and reporting procedures has been shattered. People are especially reluctant to invest their money in stocks, which results in stock exchange fall. Corporate Goverance is responsible to manage certain laws in the corporation and if not done effectively can result in loss for the firm. Corporate Governace in the firms is highly blamed when talking about the financial scandals. As cases of scandals, bankruptcy, accounting frauds are unfolding, the concern over the transparency of the financial reports is increasing. "All these companies used financial gimmicks to inflate their cash flow and profits in order to jack up their share prices and thus accumulate wealth. The investors are confronted with large, well-known companies, disappearing almost overnight. In the process not only small investors but supposedly smart, sophisticated investors have been fooled as well" (B. S. Rao). Many CEOs, CFOs and other related officers have been acquitted or are under trial as a result. One example of this is the recent indictment of Jeffrey Skilling, who was given lifetime prison and has to pay $80 million in fines (CNNMoney). Not only this th e stocks of these firms have gone to decline and now no more exists. The outcome of the other scandals is not different as well. The government after all this chaos has been active in taking some steps to stop these practices. In this regard the Securities and Exchange Comission is responsible for ensuring the transparency in the company. Steps are taken to guarantee proper monitoring of management and all the included pesonnel. Accounting Profession Although most of the accounting firms claim that their duty was only to review the finances, but the indictment of Arthur Anderson has led a question to the credibility of these firms. In this regard the the watchdog role of the auditors comes into question. The firms are now accused of overcharging in order to make the report much more attractive in order to gain profits and rise the stock prices. A report says that the "US government loses over $300 billion each year due to organized tax avoidance" prepared by the accountancy firms (Prem Sikka). There were days when the transparency of the markets highly depended on the accounting firms. Today people and investors have grown suspicious towards their perforamance. Here a question of how to regain the lost pride lies ahead of them. Other Factors Apart from blaming the corporations and the accountants for these scandals, certain other factors are to be blamed as well. These ould be the financial jouranalists, the lawyers

AMERICAN HISTORY SINCE 1900 Assignment One Essay

AMERICAN HISTORY SINCE 1900 Assignment One - Essay Example He never looks up towards the heavenly things that are placed before him. He is offered a crown of jewels and a place in Paradise, but he will not stop for a moment to look up from his decidedly earthly labors to consider the benefit of the riches offered to him. In the novel, Bunyan used the character to symbolize those that are trapped in the most mundane and unpleasant aspects of earthly existence. He used the Man with the Muck Rake as a type and a warning to those who become too absorbed in the worldly to contemplate the heavenly. President Roosevelt’s remarks indicate that he felt the muckrakers of his time had their place in the world and that they served a useful purpose in society. He indicated that he believed that all evil should be exposed at all times. He mentioned that he supported the dogged pursuit of evil men by the just that would shed light on their evil deeds. So in some ways, it appears as though the muckrakers had the tacit approval of the president. But t he very name casts doubt on the amount that President Roosevelt really believed the muckrakers could help. The name, based on its origins, indicates a person or people that are very good at one thing and one thing only. They are dedicated to seeing only the basest of worldly pursuits. The name also seems to indicate that he felt the muckrakers were individuals of limited vision. They were, in essence, so busy raking muck that they never could bring themselves to look about at all of the good that was happening around them. They were more interested in seeing abuse and scandal at every turn than they were in reporting or commenting on things as they really were. This attitude towards the muckrakers seems to indicate that President Roosevelt did not believe that all of the reforms the muckrakers supported needed to result in legislation on in strict regulations on industry. In the case of the meat packing industry, he seems to be holding reform as a threat over the head of the industr y leaders. In essence, he is saying that if you don’t clean yourselves up you will destroy your own business and exports of your own products. Regulate your own affairs or they will be regulated for you. History shows that the industry did not regulate itself, resulting in the Meat Inspection Act of 1906 (Coles, 510). Part of the reason the President was so supportive of this piece of legislation is it was greatly demanded by the public. Work Cited Bunyan, John, and James Henderson Thomas. Pilgrims's Progress in Modern English. Chicago: Moody, 1964. Print. 7 Coles, Jessie V. The Consumer-buyer and the Market. New York: Arno, 1978. Print. 510 The events leading to World War I were largely the result of a system of reciprocal treaties that bound one country to enter a conflict if their allies were threatened. Like dominoes falling, on country after another entered the war after the assignation of the heir of the Austro-Hungarian Empire. The Austro-Hungarian Empire declared war on Serbia. Germany was duty bound to support the Empire because of a mutual assistance treaty. But on the other hand, Russia, France, Great Britain and eventually Italy entered as allies against the Germans and Austrians. If everyone was to honor their obligations to the others, then everyone had to fight. The United States was committed to remaining neutral during the conflict. This was a position that was very popular in the United States and actually helped

Brand Extension Essay Example for Free

Brand Extension Essay Brand extension is a marketing strategy according to which a company marketing a product or a service launches a new offering (product or service) that is related to the one of the existing brands of the company, but offers different benefits and/or targets a different segment. Organizations use this strategy to increase and leverage upon their brand equity. When a firm is introducing a new product, it has the following 3 choices on branding: 1. Developing a new brand for the new product 2. Using the existing brand for the new product 3. Combining the new brand and the existing brand The use of 2nd and 3rd strategy is referred to as brand extension. Brands may be classified as one of the following: Parent Brand: If an existing brand gives birth to a brand extension, it is referred to as parent brand. Sub Brand: When a new brand is combined with an existing brand, it is called as sub brand. Family Brand: If a parent brand has links with multiple brands through brand extensions then it is called as family brand. Brand Extension Dimensions There are a large number of ways in which brand extension can be accomplished. One of the vital differences is if the extension is in the same or different category of the product. Thus they can be classified as: vertical or horizontal extensions. Vertical extensions Vertical extensions refer to the introduction of a related brand in the same product category but having a different price and quality balance. Vertical extensions offer the firm a quickest way to leverage upon the core product’s equity. As an extension strategy, vertical extension is widely practiced in many industries. For example, within automobile industry, the various brand models attempt to offer different price-quality bundles to attract various market segments. Often a product is extended in an attempt to just gain more of the market share. Vertical extension direction New product introductions using vertical extensions can extend in 2 directions, upscale and downscale vertical extensions. The vertical brand extension is that type of new product introduction that seems to be carrying less risk and seemingly having more appeal to management. The new product which is being introduced is in the same category as the parent product; aims at a same market segment as the parent, and may or may not enjoy the same acceptance as the parent. Upscale vertical extensions Upscale extensions involve a new product introduction by the firm with higher price quality characteristics than the original product. Downscale vertical extensions It involves a new product introduction with lower price quality characteristics than the original. Downscale vertical extensions may target sampling to a new segment, and bring some gain in market share. Horizontal extensions Generally, horizontal brand extensions either use or extend an existing product’s name to a new product in the same product category or to a product category new to the organization. There are 2 types of horizontal extensions which differ in terms of their focus area. They are termed as line extensions and category extensions. Line Extensions All the customers differ in terms of their usage needs. The brand has to fill the market with variety of products as per the needs of the segments. If a parent brand is used to brand a new product that targets a new segment in the market within the same product category that was previously served by the parent brand, it is called as line extension. Line extension leads to the addition of a new and distinct flavour or ingredient to the category. It sometimes might also lead to a new application for the brand or an introduction of a different form or size. For example, Bisleri is the pioneering brand in category of mineral water. Originally, Bisleri started off with 1 ltr bottle. But recently, the brand has launched bottles of different sizes and quantities.

Indias Private Defence Companies

Indias Private Defence Companies Our endeavour must be to meet the twin imperatives of technological relevance and cost effective delivery. Given the expansion of our private sector, both in technical and financial terms, we are at the threshold of a future in which the private sector contributes to the national cause of high technology defence. There is need for a new institutional framework to involve the private sector, to ensure continuous dialogue as well as to provide incentives for risk taking. We should encourage substantial investment in production capabilities and also in defence related RDs.  [1]   Manmohan Singh, PM of India Introduction The history of involvement of private industry in defence production in India goes back to 1991  [2]  which was followed by government initiatives in 1998 to establish close interaction of MoD and services with the Confederation of Indian Industries (CII). The constitution of Group of Ministers  [3]   committee tasked to examine the Kargil debacle, the policy reforms implemented by the government since 2001  [4]  and the constitution of Kelkar committee in 2004  [5]  , were primarily aimed at overhauling the acquisition process and promoting indigenous development to achieve 70% defence requirements from indigenous sources by 2010. The major fall out of these was the Defence Procurement Procedures, DPP 2002, DPP 2004, DPP 2006 and DPP 2008  [6]  . The dramatic differences between technologies used in commercial and military systems in the past have narrowed down with the changing pace of the scientific innovation in the commercial sector especially in the fields of nano-technology, robotics, computer simulation, and stealth technology. As a result, military organizations in developed countries have turned to commercial sector for dual-use technologies and new breakthrough scientific discoveries especially with the decline in the defence spending in post Cold-War era for reasons economic as well as political. Emerging Private Sector In the last two decades, the Private Sector has expanded immensely  [7]  with the DPSUs outsourcing more than 30% and OFs outsourcing 80%. The private sector can produce much more efficiently in a much less time frame and hence their role in Indian defence industry cannot be underestimated despite their constraints. Various private sector companies have ventured into the defence sector and have been issued license by the government. These companies have already taken up production of defence equipment by entering into joint venture (JV) with many foreign companies. Some of these are  [8]  :- Mahindra Mahindra Ltd, New Delhi. Larsen Toubro Ltd, Mumbai. Max Aerospace Aviation Ltd, Mumbai. HBL Power Systems Ltd, Hyderabad. Ramoss India, New Delhi. Tata Motors Ltd, Mumbai. Alpha Phazotron Radar Equipment Systems Pvt Ltd, Bangalore EADSs helicopter subsidiary Eurocopter is associated with HAL since 1962, manufacturing more than 600 Alouette 3 and Lama (known as Cheetah and Chetak locally) helicopters. EADS has plans to set up pilot training facilities in India for the civil and military segments and plans to invest $7-8 billion ($9.5-11 billion) over the next 10 years. In Nov 2009, Mahindra Group created Mahindra Defence Systems in India  [9]  which is a JV with BAE Systems. Mahindra Group has simultaneously acquired majority stakes in two Australian defence companies, Aerostaff Australia and Gippsland Aeronautics, signalling its entry into the defence and aerospace business. Tata has entered into JV with AgustaWestland to assemble the AW119 in India. Honeywell Aerospace  [10]  , which provides integrated avionics, engines, systems and service products for the aerospace industry, is one example. The US Company has a design and development centre in India that it hopes to expand in the coming years. Airbus has set up the Airbus Engineering Centre India in Bangalore where local engineers help develop capabilities in modelling and simulation, covering areas such as flight management systems and aerodynamics, to help in the design and production of aircraft such as the A380 and the A350. It is also working with Indian IT firms such as CADES, HCL, Infosys, Quest and Satyam to offer support across various aircraft programmes. India has an inherent edge over several other nations because of higher skills and lower costs of production. This makes India an ideal contender for joint ventures. HAL has entered into joint ventures with many overseas aviation system companies to undertake design and development of new systems in India. Some of these are the BaeHAL, HAL Edgewood, HELBIT etc. Many other software and hardware giants involved in the aviation hardware and software development especially in the embedded and real time system domain have also established their facilities in Bangalore. Some of these are GE Intelligent Systems, Honeywell, etc. Given their rapid growth over the last decade, it is perhaps no surprise that Indian software companies such as HCL, Infosys, Infotech, Tata Consultancy Services and Wipro have been active in the aerospace industry for several years. Increasingly, they are benefiting from the engineering services outsourcing programmes. This will help India evolve from IT and low-end business process outsourcing work to high-end design services. Overseas companies view the Indian companies as long-term partners and not as mere suppliers/vendors  [11]  . Initiatives The initiatives undertaken by government towards promoting involvement of private sector industries towards high end defence requirements are:- Opening up of defence sector (in 2001) for 100% participation by Indian private sector and upto 26% FDI. Provision of the offset clause in DPP for any procurement from a foreign vendor beyond 300 crores. Introduction of a procurement clause Buy and Make (Indian).This clause is expected to create a positive impact on the private sector industry and could encourage formation of joint ventures or alliances for co-production with Indian companies. Issue of RFP to Indian private sector and the companies having a greater say in negotiations, in obtaining technology from foreign Original Equipment Manufacturers (OEM) as well as in co-production. Sharing of information on long term perspective plan with the Indian industry and the involvement of the domestic industry in acquisition planning. Funding RD cost to the extent of 80 per cent by the Government. Non starters Inspite of the various measures taken, there has been no remarkable change in the current state of indigenisation. Only a few of Indias top private sector companies are involved in certain small value defence contracts. It needs to be realised that the goal of self reliance would remain a pipe dream if it is to be achieved by just banking on public sector alone. The involvement of private sector is mandatory to harness the best technology available and reduce imports. Considering the measures taken over the last two decades, India presently is far from achieving the indigenous figure of 70%. Equipment worth $50 billion has been bought from foreign suppliers in the last decade with the expenditure likely to touch $100 billion in the coming decade. The reasons to these are:- A number of defence-industry seminars, conferences and exhibitions have been held in the recent years but old mindsets, complex procurement procedures and clout wielded by the public sector have been acting as major deterrents to any meaningful participation of the private sector. Inspite of policy reforms of 2001, at the Defence-Expo 2010 the foreign defence majors were still lined up to display their wares. Hence, the efficacy of the initiatives of 26% FDI needs to be given a relook. While we trust foreign suppliers (essentially because there are few alternatives) governed as they are by their respective national laws that have in-built sanction mechanisms to restrict supplies in various situations, we have not extended the same trust quotient to Indian Industry. As on date the private sector is at a distinct disadvantage as against OFs and DPSUs. The OFs and DPSUs have a non-competitive edge, because of its close proximity to the MoD. In all deals under TOT, default agency that receives the benefit is always a DPSU, even if a private sector company is better placed in terms of know-how to absorb the technology and the available infrastructure. The private sector is also inhibited by technical limitations primarily due to its late entry into the defence industry and needs to institutionalise joint ventures with established foreign defence majors. However, the FDI cap of 26% is an impediment. Way Ahead The role of the Department of Defence Production thus needs to be drastically retooled to evaluate Indias requirements not in a public sector context but a larger India paradigm. Essentially the initiatives needed are:- De-licensing. The licensing system needs to be given a relook or done away with for manufacturing of defence equipment by private companies except for very critical products. Foreign Direct Investment. FDI limits should be enhanced to 49% for all defence production with sensitive content and in non-sensitive areas raised to 76 or even 100 per cent. This would obviate the need for government to defray 80 per cent of the RD costs. Private Equity Participation Government must seriously consider private equity participation in the defence-related public sector to unlock their potential and maximise returns on sovereign investment over the decades Developmental Partners. During development phase suitable industrial entities needs to be identified to participate in the activity as developmental partners. Limited Series Production (LSP). After joint development, the industry partners needs to be co-opted for execution of LSP that can meet the service requirement. Bulk Production Bulk of production needs to be outsourced to private players in a phased manner over several years. This could ease the problem of available OFs and DPSUs while at the same time utilise the resources available in these public establishments. Spin-offs The spin-offs from the defence technology need to be exploited in the commercial domain by effecting required repackaging/modification. Marketing. Scope also exists for industry to seek potential market for these products in India/Abroad with due approvals. Also the collaboration of private companies needs to be exploited for marketing of the products. Tax benefits. The government needs to provide a level playing field to private industry in terms of excise and custom exemptions for imports of certain components to be utilised in defence equipment. Promoting Interactions. DRDO has been actively promoting private industries participation in its entire gamut of activities by regularly interacting with the interested players as well as with organizations such as CII, FICCI, ASOCHAM. DRDO has organized several DRDO-Industry meets to appraise industry veterans about opportunities awaiting them in Defence RD. This would defineitely help in exploiting the available expertise in industry. Sponsored Research. Government needs to look into orient the fresh brains in the IITs, NITs and other educational institutions in India towards RD of the projects in hand as well as perspective projects. This can be taken up through Sponsored Research as well as industrial consultancy. Public Private Partnership. There is a need to promote public private partnership as the public sector has excellent infrastructure, manufacturing facilities and a highly experienced task force. It will be a waste of national resources if these assets are duplicated by the private sector. The private sector, on the other hand, can bring in latest technology, managerial practices, marketing skills and financial management. Therefore, a well-blended fusion of both will result in synergising of their strengths through economies of scale and prove mutually beneficial. Joint Ventures. The Brahmos project, which is the governmental level collaboration between the GOI (Bharat) and Russia (Moscow), is one good example of implementing organisational level change. The same needs to be followed up in other projects in pipeline.

Servant Leadership Would Make the World a Better Place :: Servant Leadership

In such a corrupt world, there is the need for laws and enforcement of those laws. It is expected that those put in positions to keep those safe, such as politicians, police officers, and firefighters, are actually putting others before themselves, but this is not always the case. Unfortunately, there are many in these types of positions who hold their positions because of gaining income (which is of course of importance) but do not have a strong passion for people. This brings to the case the theory of servant leadership. Northouse (2013) defines servant leadership as emphasizing that leaders be attentive to the concerns of their followers, empathize with them, and nurture them. Those who are truly servant leaders have the best interest of their followers at heart and are able to help them and lift them up, selflessly. Because politicians, police officers, and firefighters are all considered community and national leaders of our country, it is important that those are are put into these positions have characteristics of being a servant leader. Although some may argue that we may not be â€Å"followers† that does not take away from the leadership impact that they have. Although Northouse (2013) lists 10 characteristics of servant leadership (p. 221), 5 that I feel are of the most important for political and community leaders are stewardship, commitment to the growth of people, listening, empathy, and awareness. Collectively, all of these make the leader aware of their positions, aware of their impact, and ready to commit to the growth of those they are called to lead. In a perfect world, instead of politicians having hidden agendas, there only agenda would be the one they were voted into: leading others and having a positive impact on our communities, states, and country as a whole.

Growth of Internet Business :: essays research papers

Introduction The history of the Internet traces its roots to the United States government. The original use of the information system was to maintain communication during the cold war, with the Soviet Union in 1969, by the Department of Defense, incase of a nuclear attack or a major catastrophe. The National Science foundation created the Internet based on the ARPAnet. The first mass connection was between the University of California Santa Barbara, Stanford Research Institute, the University of Utah and the University of California Los Angeles.Ray Tomlinson develops E-mail in 1972.The ARPAnet became obsolete in 1982, but the basis for the program is still used at the present time. The Web began in 1989;it wasn’t released to the world till the early 90’s that’s when it became the World Wide Web. In 1993 Marc Andressen created software for the Internet to publish text, images and sound. Andressen also introduced the first graphical Web browser, called Mosaic, sti ll in use today. The United States runs most of the access to the Internet with 62% of all the routers, next closest is the United Kingdom with 5.2%. That is just an example of what America controls much on the Internet. 70% of the writing on the Internet is in English, next is Japanese. Statistics say 1 in 3 people use the Internet for E- Mail, 1 in 6 use it because they want to find out how it works, 1 in 8 want business information and 1 in 2 go to the Internet for education, hobbies, job listings, and entertainment. In 1993 less than 1% of users paid for use of the Internet. By 1995, it rose to over 200% due to the profits companies made from the providing this service. This became a common change that businesses have made since the beginning of the information highway. It was then clear that the Internet wasn’t going anywhere anytime soon. This stared a trend, which is still being felt today and into the near future. Because of the demand for the Internet around the Worl d, and the amount of capital a business could make that provides this service, is astounding, a good example of this is Cisco, a once Silicon Valley based business, which is now a Internet technology provider, reaped in $10 billion in 1986 without an IPO (initial public offering), and this is 14 years before the Internet became what it is today.

P&G Strategic Plan Essay

Executive Summary Our Procter & Gamble Strategic Plan makes available an investigation and assessment of the current and prospective opportunities for the company based on in-depth market and company research. Analyses are based on standard business strategy analysis tools, which are: Strengths, Weaknesses, Opportunities & Threats (SWOT) analysis, External and Internal Factors Evaluation (EFE/IFE) Matrices, and standard financial analyses including competitive comparison with Procter & Gamble’s industry. Strategic alternatives were evaluated with the use of the Internal-External (IE) Matrix and the Grand Strategy Matrix which fed into the Quantitative Strategic Planning Matrix (QSPM). The results of the QSPM validated the best strategy to pursue. The best strategy for Procter & Gamble is the production of less expensive, yet same quality consumer goods, which we plan to implement without compromising our belief in quality and effectiveness. Introduction In order to begin a strategic plan for a company it is important to understand what that business does. Since 1837, P&G has built a rich heritage of touching consumers’ lives with brands that make life a little better every day (â€Å"Company Heritage,† 2011). P&G believes that innovation will sustain them. They have a broad range of brands and are known as the world’s leading branded consumer company since their products are sold in 180 countries (â€Å"Global Structure & Governance,† 2011). Buhovac, Epstien, and Yuthas, in their book Implementing Sustainability: the role of leadership and organizational culture, wrote: â€Å"P&G managers have widened their organizational perspective to see the broader picture and capture benefits beyond a particular issue or cost. They strive to create products that enable consumers to be more environmentally sustainable. Improving efficiency of the entire product life cycle from cradle to grave is a major focus of P&G’s sustainability efforts† ( p. 44.). A brief look at the history of P&G and their mission/ vision statements will provide a better understanding of what type of company P&G is and wants to be. History According to Procter and Gamble’s website, P&G was created on October 31, 1837 by brother-n-laws, William Procter and James Gamble. Each one had their own skills; William made candles and James produced soap. They formed Procter and Gamble to make and sell candles and soap (â€Å"P&G: A Company History,† 2006). The two entrepreneurs were successful in making it through the financial difficulties of the time. The largest impact on the company at this time was the civil war in which the government contracted the company to supply soldiers with soap and candles (â€Å"P&G: A Company History,† 2006). Edison’s light bulb invention caused the demand for candles to weaken and the company began to focus on making soap by opening up their first research lab. The research lab came up with Ivory flakes which served as soap to wash clothes and dishes. Chipso was the first soap designed for washing machines. Dreft was the first synthetic house-hold cleaner and Crisco, which is still around today, was an all-vegetable shortening (â€Å"P&G: A Company History,† 2006). From that time on, P&G has continued to be innovative and create new products for consumers and in 2011 ranked number 26 on the Fortune 500 list (â€Å"Fortune 500,† 2011). Mission and Vision Statement Procter and Gamble has created a mission statement to tell what their business is. â€Å"Sometimes called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, a statement of principles, or a statement ‘defining our business,’ a mission statement reveals what an organization wants to be and whom it wants to serve† (David, 2011, p. 44). P&G’s mission statement says, â€Å"Procter & Gamble will provide branded products and services of superior quality and value that improve the lives of the world’s consumers. As a result consumers will reward us with industry leadership in sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper† (David, 2011, p.46). P&G has also created a vision statement that states, â€Å"Procter & Gamble’s vision is to be, and be recognized as, the best consumer products company in the world† (David, 2011, p. 44). Proctor & Gamble’s mission and vision statements explain their dedication and importance of selling high quality products in order to improve people’s lives around the world while providing jobs and stimulating the economy (â€Å"Purpose and People,† 2011). The objectives the company would like to uphold in living up to the mission statement are building existing businesses into stronger global leaders, expand to reach more markets, increase higher margins with global leadership potential, and produce more products in order to satisfy all consumers’ needs and wants. P & G believes they can improve everyone’s lives in ways that enable them to thrive, to increase the quality of living, and over time make them loyal buyers (â€Å"Purpose and People,† 2011). STRATEGIC ASSESSMENT One of the most important parts of the strategic formulation stage of the strategic management process is the assessment of a company, both externally and internally, and where that company stands in their industry. The results of these assessments will produce information that can be analyzed to determine the best strategic plans for evaluation based on the company’s present situation. The external assessment looks at forces beyond a company’s control; opportunities that can enhance and threats that can hurt their operations. The internal assessment looks at forces from within that are either strengths that can be capitalized on or weaknesses that must be offset, or both, for success. Financial and operational analysis, using the Dun and Bradstreet business ratios, looks at a company’s financial and operational success, or failure, as compared to competition within their industry. External Forces Evaluation (EFE) Matrix The following analysis is an external evaluation of the opportunities and threats that can affect Procter & Gamble. The External Factors Evaluation matrix, Figure A-1, and this supporting summary draw data from published reports, news articles, and blogs to ensure as complete a picture as possible is presented. The following opportunities and threats discussed refer back to Figure A-1. Opportunities. As Procter and Gamble is looking to find ways to bring in customers, they have used a method of observation to see what people are concerned about and what they want (Silverman, 2011). By spending $2 billion annually on R&D, Procter and Gamble have brought upon the company an opportunity, as they think about Future Growth plans with a focus on increasing concentration on its core attractive business and enhancing its customer base. Also, Procter & Gamble has been applying for and being assigned patents for â€Å"fabric care compositions and systems comprising organ silicone micro emulsions and methods employing same†¦ assigned Patent for Automatic Dishwashing Detergent Composition†¦and Process for Treating a Hard Surface using an EO/PO Trisiloxane† (â€Å"Targeted News Source†, 2011). As more women want the natural look, there is a movement towards the use of herbal cosmetics (â€Å"The Procter & Gamble company – Financial and strategic analysis review,† 2011). As the manufacturer of cosmetics, Procter & Gamble have an opportunity to capitalize on this opportunity by shifting their production and purchase from synthetic cosmetics towards natural, herbal cosmetics. As the producer of Herbal Essences, the opportunity to increase a line of â€Å"herbal† cosmetics and healthcare products is wide open for the taking. Procter & Gamble have a great opportunity to take advantage of the emerging economies of countries like China, Kuwait, and India (â€Å"The Procter & Gamble company – Financial and strategic analysis review†, 2011). With increased employment and the growing desire for affluence, there is an increase in disposable income available for the purchase of known brands into a market that has little penetration from other organized retailers (â€Å"The Procter & Gamble company – Financial and strategic analysis review†, 2011). Another opportunity Procter & Gamble has developed is to branch out and invest in manufacturing in developing countries such as its chemical company, Procter & Gamble SA. â€Å"It is one of the newest P&G subsidiaries†¦in South Africa principally into production of cleaning products and beauty care products. P&G uses its South African base to export to neighboring SADC countries,† (â€Å"Procter & Gamble SA – Strategic SWOT Analysis Review,† 2011). This opportunity can help to offset a slowing economy in the United States where Procter & Gamble presently generate 41% of their 2011 sales (Hoovers, 2011). As the producer of Iams and Eukanuba pet foods, Procter & Gamble has a prime opportunity to capitalize on the growing trend of humanization of pets worldwide (â€Å"The Procter & Gamble company – Financial and strategic analysis review†, 2011). Procter & Gamble’s market share of pet food and personal pet care products can be increased through an increase in their line of high-quality food and luxury products (â€Å"The Procter & Gamble company – Financial and strategic analysis review†, 2011). With the decline in the market and rising government debt, Jonathan Chevreau published on his Financial Post Blog Wealthy boomer a letter written by Robert Smith, CFA, CFP where Robert wrote that investors should be moving towards purchasing stocks from â€Å"solid dividend-paying companies† ( 2011). Procter & Gamble were cited as one of the companies that are a sure bet because of the diversity and necessity of their products. Procter & Gamble can capitalize on this by continuing to provide a dividend on their stocks which should attract more investors. There is a new trend advancing in the baby diaper industry. Competitor Kimberly-Clark has jumped into the trend with Huggies jeans; a diaper that looks like it is jeans material. Now they are producing a camouflage design diaper for Wal-Mart that will support Military families. Procter and Gamble has recognized the new trend by introducing floral prints for girls. John Brase, head of North American baby care marketing at Procter and Gamble is stated in an article by Bruce Horovitz (2011) as saying, â€Å"You have a group of moms focused on fashion who think of the diaper as an extension of clothing.† Another opportunity for Procter and Gamble is the demand for environmentally friendly products. In recent years there has been an increased focus on saving the earth through green choices. This opportunity has prompted Procter and Gamble to become publicly committed to long-term goals of reducing energy consumption, converting to entirely renewable energy sources, using 100% renewable or recycled materials, and eliminating disposal of consumer and manufacturing waste in landfills (Pandis, 2011).

Globalization and Technology Negotiation Strategy Article Analysis Essay

Globalization and Technology Negotiation Strategy Article Analysis Negotiation strategy and planning are important in understanding how a negotiator should engage the issue. According to Lewicki, Saunders, and Barry (2006), negotiators can achieve their goal easily by using an effective plan and acquiring a solid strategy in the negotiating room. In this paper, negotiation strategy will be discussed on how the United States is trying to resist globalization and technology from foreign countries in the global market. The following key elements will be discussed: (1) description of globalization policies, and (2) negotiation strategies with China. Description of Globalization Policies According to an article from uschamber.com (2011), businesses have become very high-tech and companies are concerned with global regulatory issues. The United States has joined international policy to help resist foreign globalization into the country. An example of negotiation policies is the use of Internet privacy, free trade agreements, and standards in the telecommunication market. The United States is using strong negotiation tactics to help persuade China and other countries to conform to globalization standards. Negotiation Strategies with China The negotiation strategy in dealing with China is through intimidation of military China has used a policy of secrecy in negotiation and has used their economic power to negotiate global agreements. Even though United States is a dominate military power, the negotiation strategy consists of a distributive bargaining style concerning the dealing of global economics with China. China’s ultimate goal of globalization throughout the Southeast Asia is under a strict negotiation strategy of conflict management between the United States and China. The distributive bargaining style has been used  by the United States when dealing with China’s dominate role in economics. The United States has had to use accommodative negotiation strategy to help negotiate treaties with countries helping keep China in check from dominating globally. Example is how Taiwan has been threaten globally by China but the Unites States uses accommodations with other countries to help gain up on China. Summary and Conclusion In this paper, negotiation strategy was discussed on how the United States is trying to resist globalization and technology from foreign countries in the global market. The following key elements will be discussed: (1) description of globalization policies, and (2) negotiation strategies with China. In conclusion, distributive bargaining and accommodative negotiation strategies were discussed on how China global expansion has been kept at rest. China is a dominate economic power but China’s expansion into global dominance is a rest throughout the world. Distributive bargaining has been used by China to take a hold on dominating the economic regulations put on other countries. China does not receive the same sanctions other countries may receive from political outcry. The United States is in losing situation when trying to negotiate economic sanctions on China but does have the power to stop China from globalization. Military power is used to help control conflict and only time will tell if China continues to back down in the global environment. References Globalization and technology. (2011). U.S. Chamber of Commerce. Retrieved from http://www.uschamber.com/issues/technology/globalization-and-technology Lewicki, R. J., Saunders, D. M., & Barry, B. (2005). Negotiation (5th ed.). Boston, MA: McGraw Hill. Retrieved from University of Phoenix, Resource, MGT/445 – Organizational Negotiations: https://ecampus.phoenix.edu/secure/resource/resource.asp

Case Study On Euro Land Foods Finance Essay

Case Study On Euro Land Foods Finance Essay The company was founded in 1924 by Theo verdin a previous as a subsidiary of his dairy business. His keen attention to product Development and grew business steadily over the year .the company went public in year 1979 and by 1993, was listed on trading in the London and Germany exchanges. In January 2001, the senior management of Euro land foods was to draw the firm’s one year capital budget and up for new 11 major projects are imposed to spending limit on capital of 120 million pound. Investment at that rate would be representing a major increase in the firm’s current assets base on 965 million pound. The senior manager challenge of Euro land foods to allocate funds among a range of compelling project, new product introduce and preventive maintenance, safety and pollution control. As a matter of policy, investment proposals at Euro land foods were subject to two financial test, payback and internal rate of return. NET PRESENT VALUE (NPV) The net present value (NPV) re quires cash flow discounting by making use of the so-called risk-adjusted cost of capital, which serves the purpose of accounting for risk. A widespread model employed for computing the cost of capital is the capital asset pricing model (CAPM). Rubinstein (1973) and other scholars in the late 1960s and 1970s have provided the link between CAPM and capital budgeting decisions: in their classical contributions they show that, if the CAPM assumptions are met, then the cost of capital is a function of the systematic risk, which is given by the beta of the project. The latter depends in turn on the cost of the project, which implies that it is a disequilibrium beta. The corresponding NPV is therefore disequilibrium NPV. If†¦ It means†¦ Then†¦ NPV > 0 the asset would add value to the definite the venture may be acknowledged NPV < 0 the asset would take from value as of the firm the plan should be unwanted NPV = 0 the asset would neither gain nor misplace value for the firm We should be uncaring in the conclusion whether to accept or refuse the project. This plan adds no monetary value. Decision should be base on other criteria, e.g. designed position or other factors not evidently included in the calculation. Formula: Npv =CFo+ ___CF____ ( 1+k) n Example:- Year Cash flow Present Value 0 100,000 1 22,727 2 20,661 3 18,783 4 17,075 5 15,523 Internal rate of return:- It is a different economical cash flow practice which takes report of the extent and time of cash flow. Formula: – IRR=LOWER RATE+ npv at lower rate x (HIGHER RATE -LOWER Rate) Npv at lower rate -NPV at higher rate Example 1. If a speculation may be given by the chain of cash flows: Year (n) Cash Flow (Cn) 0 -4000 1 1200 2 1410 3 1875 4 1050 Then the IRR  r  is given by . In this case, the answer is 14.3%. 1. Project with NPV and IRR:- The research on the resource-constrained project scheduling problem is focused mainly on two types of objectives: objectives based on time and obje ctives based on cost. Both of these factors, i.e. time and cost, are indispensable in practical applications. Year

Psychology Essay Example | Topics and Well Written Essays - 1000 words - 13

Psychology - Essay Example From among the known brain functions, this paper chooses to discuss memory and how it can be improved through the reading of newspapers. Unlike the other sources of news and information that are used at intervals, newspaper reading is a daily activity and thus expected to work better in enhancing memory, which some psychologists say can be done through frequent repetition (Anderson, 1976). Three distinct types of memory are set in the psychology literature: sensory, short-term and long-term memory. Memory is considered sensory when people see more than they can actually report (Baddeley, 2000), suggesting that information is received through the senses and emotions rather than through the brain. Consequently, it involves a memory span of only a few hundred milliseconds and a capacity of only about 12 items (Anderson, 1976). As such, this type of memory degrades quickly. There is a similar limitation in capacity for short-term memory although the duration extends up to a minute. As for long-term memory, it can store much larger quantities of information for prolonged periods of time, sometimes even for a whole life span. This type of memory can either be declarative or procedural, which differ in the way the mind processes information. It is declarative when, like sensory memory, information is received based on sensations, emotions and personal associations regarding time or place, while it is procedural when memory functions well because of repetition (Snowden, 2001). Whatever the types of memory people are prone to, many studies show that memory functions can be improved through rehearsal and repetition. This means that people with sensory and short-term memory can store information for long-term purposes if they receive it repeatedly and they are forced to retrieve the information for daily use (Baddeley, 2000). Not all psychologists share this view,