Saturday, August 31, 2019
Bridging the Gap: Adolescent Rites of Passage General Purpose: To inform. Specific Purpose: At the end of my speech, my audience will understand how cultures use adolescent rites of passage to help people mark the transition from childhood to adulthood. Central Idea: Adolescent rites of passage have marked the passage of children into adulthood around the world, and elements of those rituals are being used in modern American society. INTRODUCTION How did you celebrate your eighteenth birthday? Do you recall your graduation ceremony?If youÃ¢â¬â¢re like most Americans, such events marked the moment you became an adult. It may have been the day you walked off a lighted stage, clutching your diploma to your chest. Yet if you were an Arunta from Australia, it might be the moment you rose off of the smoking tree branches you were lying upon and were proclaimed an adult. Regardless of which are the most personally significant, we all have moments in our life that we would consider Ã¢â¬Å" rites of passageÃ¢â¬ Ã¢â¬âmoments that carry us across the threshold between two lives.In societies around the world, collective rites of passage have been seen as ways to initiate young people into adult life. In researching on this topic, I have discovered the important role rites of passage play for youth around the world, and I would like to share this with you this afternoon. Today we will look at the ways in which cultures throughout the world have used rites of passage to mark the transition to adulthood for both boys and girls, and how elements of those rituals are being used today in American society. Transition)To begin, letÃ¢â¬â¢s look at some of the different rites of passage from around the world that show traditional coming-of-age ceremonies in other cultures that are the basis for new American rituals. BODY I. Rites of Passage in Cultures: Puberty is often a signal in most cultures that a boy or girl is ready to become an adult.A. The Navajo of the American Sou thwest celebrate this milestone with the vision quest. 1. The ritual begins when a fifteen to sixteen-year- old boy is taken into a sweat lodge, where he will be purified in both body and soul before he begins his quest. . During the period before he leaves he will also be advised by a medicine man regarding his coming quest. 3. Finally, he ventures into the wilderness or desert on his own, fasting until he receives a vision that will determine his new name and the direction of his life. 4. When he receives his vision, the community welcomes him back as a man (Transition)Like their male counterparts in the Navajo, females also have special coming of age rituals. B. The Okrika of Nigeria celebrate coming of age with the Iria ceremony for seventeen-year-old girls. 1.The highlight of this ritual is when the girls enter the Ã¢â¬Å"Fattening Room. Ã¢â¬ 2. Only leaving to travel to the river, the girls stay in the rooms to gain the weight that the tribe considers attractive. Girls are forced to eat large quantities of food. 3. Female friends and family teach the girls how a woman should act. 4. When a girl leaves the Fattening Room, she is considered a woman. (Transition)These examples of the rites of passage for Navajo males and Okrika females show us how different cultures mark the transition from childhood to adult status in the community.Now letÃ¢â¬â¢s look at the increasing popularity of traditional rites of passage in the United States. II. Increase in Rites of Passage in United States: The United States is an ethnic melting pot of cultures and traditions. A. Yet our diversity prevents us from having a single experience, common to all, that celebrates our entrance into the adult community. 1. Some ceremonies are religion specific, such as Jewish Bar and Bat Mitzvahs or Christian baptisms and confirmations. 2. Many children, without religious or ethnic heritage, have no sort of recognition outside of high school graduationsÃ¢â¬âif they choose to graduat e.Yet Cassandra Delaney writes about graduates, Ã¢â¬Å"They often are not equipped with the necessary components of a stable adult personality such as a well-reasoned moral code, a faith or world review which sustains them during crisis, and perhaps most importantly, a positive and cohesive self image. Ã¢â¬ B. With this problem in mind, many Americans are turning to tribal traditions like the ones described earlier to help their children have a positive rite of passage. 1. The African-American community is turning back to its cultural roots to aid social ills among young males. a.The MAAT Program attempts to instruct at-risk African-American males on social behavior through sessions with older mentors that incorporate African tribal tradition. b. Program sessions begin by prayer and an offering of a drink to the ancestors. c. At the end of the program, writes Aminifu Harvey and Julia Rauch of Health and Social Work magazine, the boys Ã¢â¬Å"mark their passage to manhood by giving themselves another African name, based on their personality, at the final retreat. Ã¢â¬ d. In this way, African-Americans use the rite of passage concept to develop a positive sense of identity for youth. . Even in Washington State, rites of passage are growing. a. An article in the Spokane Spokesman-Review by Jeanette White tells of Stan Crow, who runs a three-week program called Ã¢â¬Å"The Coming of Age Journey. Ã¢â¬ b. Here activities include challenging hikes and Ã¢â¬Å"vision questÃ¢â¬ style nights alone in the wilderness in an attempt to promote self-reliance. c. Rites of passage like these, says psychologist Michael Gurian in the Spokesman-Review article, promote positive self-image because they force children to develop skills to meet challenges, to reflect on goals, and to learn leadership. . In Washington and the entire United States, rites of passage are becoming more popular as a way to fulfill the spiritual and moral needs of youth while identifying them to a community. CONCLUSION In conclusion, adolescent rites of passage mark the transition to adulthood. In the United States, questions have been raised as to whether rites of passage like those used by Africans, Native Americans, or others might be useful in helping with social problems. Some programs have attempted to experiment with the positive potential impact of rites of passage in modern American society.Though coming-of-age ceremonies do not automatically make us adults, they are the milestones of a maturing process we are all on. Think again about what you consider to be your Ã¢â¬Å"rite of passage. Ã¢â¬ Did the license, the diploma, or the keys to your dorm or apartment make you an adult? Perhaps some are yet mired in that no-manÃ¢â¬â¢s land called adolescence. Yet it one day might be different. Your child might one day swelter in a Western-style sweat lodge or eat in the Fattening Room; your child might depart on a vision quest.Regardless of the method, bridging the gap b etween childhood and adulthood is , and will always be , one of the most universal and important milestones of human life. BIBLIOGRAPHY Ã¢â¬Å"Coming of Age as an Australian Aruntas. Ã¢â¬ Michigan Jewish Online Education. 1999. Jewish Federation of Metropolitan Detroit. 9 October 2000 . Ã¢â¬Å"Coming of Age in the Navajo Nation. Ã¢â¬ Michigan Jewish Online Education. 1999. Jewish Federation of Metropolitan Detroit. 9 October 2000 . Delaney, Cassandra Halleh. Ã¢â¬Å"Rites of Passage in Adolescence. Ã¢â¬ Adolescence 30 (Winter 1995): 891. Elan, Jessica. A Cross-Cultural Comparison of Puberty Rites and Ceremonies for Females. Ã¢â¬ The Oxford Review. 5 May 1998. Oxford College of Emory University. 8 Oct. 2000 . Harvey, Aminifu R. and Julia B. Rauch. Ã¢â¬Å"A comprehensive Afrocentric rites of passage program for black male adolescents. Ã¢â¬ Health and Social Work 22. 1 (Feb. 1997): 30-37. White, Jeanette. Ã¢â¬Å"Too few of todayÃ¢â¬â¢s children experience traditional ri tes of passage, experts say. Ã¢â¬ Spokesman-Review 4 July 2000: A1. Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â Emphasize Pause Put on First Visual Pause Use Visual #2Ã¢â¬â Pause Gesture 1,2,3Ã¢â¬ ¦ Gesture 1,2,3Ã¢â¬ ¦ Slower
Friday, August 30, 2019
In Mary ShelleyÃ¢â¬â¢s novel Frankenstein, the main character Victor Frankenstein, becomes obsessed with the notion of bringing a human being to life. The result is the creation of a monster only known to us as Ã¢â¬Ëthe monsterÃ¢â¬â¢. The monster is hideous, and is therefore rejected by Victor and by society to fend for himself. He soon commits many murders, as a result of his dejection, including FrankensteinÃ¢â¬â¢s younger brother, best friend and newly wed wife. He also set up the killing of Justine. Frankenstein created the monster and then rejected him, but it was the monster who actually did the killings, who was to blame. To start off with there are obvious similarities between Frankenstein and his creation, both have been isolated, and both start out with good intentions. However, FrankensteinÃ¢â¬â¢s ego conquers his humanity in his search for god-like powers. The monster is nothing but gentle until society rejects him and makes him an outcast on account of his deformities. The monster is more humane than his own creator because his immoral deeds are committed in response to societyÃ¢â¬â¢s corruption, while FrankensteinÃ¢â¬â¢s evil work begins from his own selfishness. Frankenstein and the monster are abandoned by their creators at a young age, Frankenstein is left without his mother after her death, and the monster is rejected by Frankenstein. Frankenstein and the monster are also similar in that they are isolated and outcasts of society. Frankenstein is most likely an outcast when he consumes himself in work and is isolated when the monster kills those he loves, and the monster is obviously isolated as an ugly, deformed outcast of society. Therefore Frankenstein seems less human than the monster, he displays this by deserting the monster, declining to visit his family for two years and by declining to save Justine. Frankenstein starts out with good intentions, he is merely seeking to gain knowledge of natural beliefs. Soon, his greed for god-like power overcomes him and he becomes consumed with the idea of creating life, Ã¢â¬Å"Summer months passed while I was thus engaged, heart and soul, in one pursuitÃ¢â¬ (32). The monster also starts out with kindness, he tells his creator, Ã¢â¬Å"Believe me, Frankenstein: I was benevolent, my soul glowed with love and humanity: but am I not alone, miserably alone?Ã¢â¬ (66). However, after society refuses to accept him based on personal appearance, the monster becomes angry. The monster has an overwhelming capacity to love as can be seen in his admiration for the peasants, Ã¢â¬Å"The monsterÃ¢â¬â¢s thoughts now became more active, and he longed to discover the motives and feelings of these lovely monstersÃ¢â¬ ¦ he thought, that it might be in his power to restore happiness to these deserving peopleÃ¢â¬ (77). The monsterÃ¢â¬â¢s display of care and compassion for the cottagers is more humane than most humans are. He retains the innocence and naive characteristics of a child. The monsterÃ¢â¬â¢s grasp of human-like qualities allows the reader to possess sympathy for his situation, he is a victim and Frankenstein is to blame. A true monster would, by definition, have no emotions or remorse, while FrankensteinÃ¢â¬â¢s creation has a very natural, human desire to be loved and accepted, Ã¢â¬Å"Once the monster falsely hoped to meet with beings, who, pardoning his outward form, would love him for the excellent qualities which he was capable of bringing forthÃ¢â¬ (154). Another human characteristic that the monster holds is his conscience, as can be seen at the end of the book after Frankenstein dies. The monster tells Walton, Ã¢â¬Å"It is true that I am a wretch. I have murdered the lovely and the helpless, I have strangled the innocent as they sleptÃ¢â¬ ¦You hate me, but your abhorrence cannot equal that with which I regard myselfÃ¢â¬ (155). Compassion, fear, desire to be accepted, and guilt are all very human emotions and characteristics that the monster displays. While Frankenstein is consumed in his work, he feels none of the emotions that the monster feels in his first years of life, Victor says of himself, Ã¢â¬Å"Winter, spring, and summer, passed away during my labours, but I did not watch the blossom or the expanding leaves- sights which before always yielded me supreme delight, so deeply was I engrossed in my occupationÃ¢â¬ (33). Frankenstein is obsessed with holding god-like powers, Ã¢â¬Å"I ceased to fear or to bend before any being less almighty than that which had created and ruled the elementsÃ¢â¬ (78). At several points in the book Victor has the chance to prevent harm being done to others, but each time he is onlyÃ concerned with himself. It is ambiguous, but Victor could have warned the family, or gone to protect innocent little William. More obviously, he could have spoken up about the monster and saved the life of Justine. Instead, Frankenstein chooses to let Justine die and wallow in his own guilt, Ã¢â¬Å"Anguish and despair had penetrated into the core of his heartÃ¢â¬ (57). After the monsterÃ¢â¬â¢s threat, Victor is concerned only about his own life and fails to see the threat to his bride Elizabeth. Victor is weak in love, he has difficulty expressing his feelings and controlling his impulses, and he is self-cantered. Many contrasts can be made between Mary ShelleyÃ¢â¬â¢s Frankenstein and MiltonÃ¢â¬â¢s Paradise Lost. VictorÃ¢â¬â¢s character is paralleled directly with SatanÃ¢â¬â¢s, both succumb to selfishness when they fall. Much like Satan, Victor is forced to carry his anguish with him constantly, Ã¢â¬Å"Frankenstein bore a hell within himself which nothing could extinguishÃ¢â¬ (57). The monster is a portrayal of EveÃ¢â¬â¢s role in Paradise Lost. The monster is persuaded by the behaviour of others to take his fall into wickedness, much like Eve was pushed by the serpent to eat the forbidden fruit. Shelley blatantly makes this comparison when Frankenstein gets a first glance of himself in a scene that mirrors EveÃ¢â¬â¢s first look at herself. The monster tells Victor, Ã¢â¬Å"I was terrified when I viewed myself in a transparent pool! At first I stared back, unable to believe that it was indeed I who was reflected in the mirror, and when I became fully convinced that I was in reality the monster that I am, I was filled with the bitterest sensations of despondence and mortificationÃ¢â¬ (108). Despite their similarities, Victor and his creation differ greatly. Only after rejection does the monster turn to evil, while Victor acts out of greed. VictorÃ¢â¬â¢s self-centred behaviour affects everyone in the novel, he hurts his familyÃ¢â¬â¢s feelings, he lets th ose that he loves die, and abandons his own creation. Even the monster couldnÃ¢â¬â¢t have committed such horrible acts before the effects of societyÃ¢â¬â¢s rejection. Frankenstein is mainly to blame for what happened in the novel because he created the monster and then rejected it. If he had shown the monster more fatherly care, the monster would have been more kindly disposed towards the human race. We see the monsterÃ¢â¬â¢s admiration of the human race at first, withÃ the De Lacey family, but you can imagine how he must have felt, being excluded from any activity in the world involving humans. The fact that it is FrankensteinÃ¢â¬â¢s fault is portrayed in the monsterÃ¢â¬â¢s innocence and naivety early on. The monster however, did refuse to show human qualities in his mass murdering, he showed no guilt until the end of the book, when he realised what he had done. Frankenstein himself had many opportunities to stop what happened in the book, for instance by finishing off the monsterÃ¢â¬â¢s female companion. He had a chance to stop JustineÃ¢â¬â¢s death, but instead wallowed in his own misery. It is clear that although the monster showed huge brutality with little guilt and did actually commit the crimes, Frankenstein is to blame for what happened in the book because he created the monster, rejected him, and failed to stop the events which resulted, although he had a chance.
Thursday, August 29, 2019
Question In July 2012, in exercising its powers under the EU Markets in Financial Instruments Directive (MiFID), UK Financial Se - Essay Example The market would therefore have been a highly competitive one with fewer shares to be traded among several shareholders. The case of survival of the fittest would have therefore arisen. In their bid to acquire London Metal Exchange Ltd, Honk Kong Exchange Investment was mandated to satisfy the provisions of the scheme of arrangement under Part 26 Companies Act 2006, which addresses the issue of legislation to loans and debt. This procedure was necessitated for a number of legal reasons and interpretations. Commonly, it is noted that the need of scheme of arrangement arises for companies such as Hong Kong Exchange Investment to make compromise with its key stakeholders on issues regarding solvent companyÃ¢â¬â¢s reconstruction. ... cy and solvency Act4, it is very important to stress the fact that the scheme of arrangement is not in place to conceptualize a companyÃ¢â¬â¢s scheme to become insolvent. With this said, the analysis can well continue on the provisions of the scheme of arrangement involved in the case of Hong Kong Exchange Investment as it would now be known that the scheme of arrangement was entered only as a cost shedding strategy and not as a means of announcing the companyÃ¢â¬â¢s likelihood to become insolvent. Outcome and implications of the court approval for stakeholders Even though back in July 2012 the United Kingdom Financial Services Authority had exercised its powers under the European Union Markets in Financial Instruments Directive under the 2004/39/EC of the Markets in Financial Instruments Directive (MiFID) to approve Hong Kong Exchange InvestmentÃ¢â¬â¢s acquisition of London Metal Exchange Ltd, the process was somewhat put in a limbo as a court petition was undertaken for the c ourt to sanction the Scheme that had been started and to give a legislative confirmation to the related capital reduction5. This court petition was in reaction to the approved purchasing capital of ?1.39 billion that had been granted earlier. This court case was heard on 5 December 2012 and the issues of the court had it that Hong Kong Exchange Investment was cleared to main its capital base for the acquisition. As part of the issues considered by the court was the remaining conditions to the transaction that had been set out in the Scheme Document. Earlier, the purchasing company, which was Hong Kong Exchange Investment, had fully satisfied condition 1(a) found in Part III of the scheme document that touches on the transaction that had taken place far back on 9 July 2012. Completion of the transaction
Wednesday, August 28, 2019
Business Language Acquisition - Essay Example It is aimed at providing a required level of use of technical jargon associated with oil-related work and employment. This makes a good practice for enhancing speaking powers by employing the use of business terms related to oil issues. Debate will allow the audience to understand the use of technical terms and create a similar understanding, translation and usage of words. Extensive reading sessions will be held to introduce new topics and relevant issues. Any one executive will be selected to read out loud in the session and any other executive will be selected to summarize what has been read. Feedback will be welcomed from other executives present in the session. The reading materials provided will be related to oil extraction, foreign oil supply diversification and petroleum, oil and gas management studies. This will be an autonomous way of exploring writings on oil availability, oil fields, oil extraction processes, and technological advances around the globe, for both theoretical and practical perspectives on learning oil-related works. These will also serve as source texts for reflecting on learner autonomy in language learning. This can be carried out in two stages: This will help the executives to acquire abilities of effectively expressing their ideas using useful business terms and generate reports of their activities giving detailed and logical reasoning for successor manager to follow. 4. Research Papers The executives will be asked to fish out research materials on global happenings related to oil extraction, filtration and consumption and any other oil related issues and updates. Rationale This activity will not only enrich their knowledge and expertise in
Tuesday, August 27, 2019
Theories and ideologies #3 - Essay Example The changes in both Marxism and anarchism are aimed to better the society if adopted. Capitalism has for long been the evil wheel spinning the society and has resulted to production of immense inequality both politically and socially. Capitalism leads to an economic mode of production that sees the rich continue becoming richer and the poor become poorer. The leaders of capitalism pay low wages to the laborers just enough to keep them alive but not to engage in other profit making activities that can compete with them. Meanwhile, they continue making a lot of profit and expanding their own economic empires. With economic power comes political power and hence the rich also hold and control the political power. Communism brings equality to all both economically, socially and politically. Everyone has what is necessary and even the surplus is subdivided among the people. Political power is equally shared and controlled by the people. Social classification is unknown in this society and the common theme is communal ownership hence peace prevails1. A society without individual ownership or a singular form of leadership is the ideal society. People are at liberty to own join property and be in control of the organizations and authority. There is no government to coerce people and neither is their political governance to control the people2. Humanity is at liberty to exercise their rights and aid each other as they wish. Social inequality is unknown as every property possible is shared among the people and no one owns anything. Without personal property, leadership and authority, peace prevails among the people as there is no cause for conflict. Social and economic issues are handled by the whole community in general and hence no place for political ideologies. Workers are in control of the industries and each industry is an independent entity meaning no one has control over it as an individual but rather it is a community property
Monday, August 26, 2019
Enhancing Competitiveness through Strategic Marketing - Term Paper Example In the same vein, the organization will accomplish nothing if it spends less on the marketing of a product that requires more. The specific considerations include the newness or uniqueness of the product. If the product represents a market innovation or it is different from other products available in the target market, such a product has a built-in advantage, according to the so-called Porter generic strategy as posited by market analyst Michael Porter. Central to strategic marketing is the research data on how customers buy, what they buy, where they buy, how they buy. This elaborates the principle of the 4 Ps in marketing which are a product, price, place, and promotion. In the target market, the organization decides if it wants to be the industry leader, follower, challenger or niche-maker. Does it want to dominate this market or simply snag a share in it The scope and coverage of the market strategy depend on these choices based on conditions reflected in the market research? The company also determines if it wants to fast-track its sales effort by using aggressive methods or warfare-based tactics, which refer to defensive or offensive, flanking or guerrilla maneuvers.Before the actual market launch, a company prepares for the big event with its mind already made up on the mix of methods it will use. The marketing, promotion and advertising methods are already specified, along with the product packaging and physical distribution. Cost projections for sales and related activities are in place, while prices have been determined based on the end user's perspective. Also, the company must have determined the appropriate pricing and credit schemes as t o where introductory discounts would be offered. Equally important is the availability of plans to deal with competitors and some fallback measures in case the sales target is not reached.Ã Ã Cost projections should be developed on the short-term, medium-term and long-term basis and drawn at least one year ahead of the product launch for good measure. This should be updated monthly at first and then quarterly or annually afterward.Ã
Sunday, August 25, 2019
Becoming an Engineer - Essay Example new professionals that can improve the operations of companies in order to create more work opportunities that will reduce unemployment across our nation. Engineers are the key personnel that protect mother earth from the damage machines impose on our environment. A mechanical engineer can design systems that utilize less energy and reduce pollution levels by minimizing or eliminating waste and gas emissions. Engineers are also involved in governmental projects that help improve the quality of life within our communities. For me working with other people and collaborating in joint efforts is important. People that work as engineer are in constant communication with other employees to discuss ideas and find solution for problems. The engineering field is a profession that can provide me with a good income to support myself and my family. The average salary for an engineering job is $66,000 (Simplyhired). Along with a good another job thing about this career that it field in which a lot of new jobs are being created. The United States recently elected a new president that wants create new jobs in the automobile industry and in alternative fuel creation. Both of these industries hire a lot of engineers to work for them. An engineer is a profession that is marketable in the United States and in the global job marketplace. They can work on a lot different things, thus their versatility given them more options for job selection. An engineer can work for the public or private sector as well as become self-employed by becoming a consultant. I have chosen this career path as my future goal because my personal abilities and skills are aligned with things an engineer needs to be good at. IÃ¢â¬â¢m a person with good math skills and analytical ability. I like working in fast-paced environments were technology and computers utilized. For a person to be happy in the workplace they need to feel comfortable and like what they are doing. The engineering field has always inspired me
Saturday, August 24, 2019
Sustainable transportation paper - Essay Example The evaluation of the organizationÃ¢â¬â¢s future performance, as this issue is addressed in Question 3 of the paper, would be based on the information related to urban transportation, as released in the literature. By 2040 the changes developed in Portland are many. These changes have resulted to the transformation of the cityÃ¢â¬â¢s transportation system. Reference is made specifically to the radical increase of passengers using TriMet for their work trips in Portland. This trend can be related to specific practices adopted by TriMet; these practices have led to the increase of the organizationÃ¢â¬â¢s ridership by 20% between 2010 and 2040. TriMet has primarily focused on the quality and safety of its infrastructure. When referring to transport, quality is an important criteria for choosing a means of transportation (Karner and Niemeier 2013). In this context, TriMetÃ¢â¬â¢s project for the update/ improvement of its network has been based on the Accessibility-Based Approach to Planning. In order for an urban planning project to secure accessibility it needs to meet the above two criteria: Ã¢â¬Ëmobility and proximityÃ¢â¬â¢ (Cervero 2005, p.1). Mobility, as an element of accessibility, shows the easiness in getting from one point to the other, mostly in regard to time spent for completing the relevant trip (Cervero 2005). As for proximity, this term implies the limitation of distance between two points/ areas; this limitation is usually achieved either by using transport means of advanced technology or by developing transport infrastructure, such as bridges etc., that can reduce distance in trips (Cervero 2005, p.1 ). Under these terms, in 2040 people in Portland prefer TriMet in their work trips since they can save significant time in reaching their destination especially since the improvements made in the cityÃ¢â¬â¢s infrastructure system have emphasized to mobility and
Friday, August 23, 2019
Finance - Essay Example Then it will be followed by a literature review of 5000 words to extend the direction of my topic either in theoretical, methodical, or analytical manner pertaining to the promotion of Islamic banking. I am going to write 5000 words in the research stage for primary and a secondary research of published studies and reports. The data collection will be followed by an analysis and discussion for 2500 words in which I am going to establish an understanding of the data and say what it means. The final stage of the plan is the concluding chapter (1000 words) in which I am going to answer all raised questions and draw all the details together into a whole. The last is the 500 words recommendation based on my analysis that includes the steps that should be done, needed resources, and feasibility of the proposal. Action Plan: 1. The principles of Islamic banking can be fully promoted among Muslims and non-Muslims by investing heavily on academic discipline, and research and development (R&D) . The Islamic Foundation in UK had established the Markfield Institute of Higher Education (MIHE) just like the Islamic Financial Services Programs (IFSPS) in Australia, and Islamic Finance Professional Certificate (IFPC) in Malaysia. 2. Encourage different countries to capitalise Islamic banking and finance by giving seminars, workshops, trainings, etc. to their people. In fact, international orientation and conferences has been positively accepted in all parts of the world such as Europe, U.S., Africa, and Asia. Ã¢â¬Å"The main aim of these programmes is to provide a central platform and communication channel for researchers, academicians, business leaders, and financial industry practitioners to meet and discuss critical issues and ideas relating to Islamic banking and financeÃ¢â¬ (Ahsan, n.d., p. 118). Banks That Will Be Going to Research: Banks that can be considered for research are those that offered Islamic financial services in Saudi such as Al Rajihi Banking & Investmen t Corp, Islamic Development Bank, and Saudi British Bank, and in UK such as the Islamic Bank of Britain, HSBC Amanah Bank, and Lloyd TSB. To prove that promoting Islamic banking in the banking sector is worthy then comparing these banks with some of the conventional banks in Saudi Arabia like The National Commercial Bank (NCB), Saudi American Bank and Saudi Investment Bank, and major UK-based banks like Standard Chartered, Barclays, and Royal Bank of Scotland Group are helpful. Islamic banks are growing rapidly at a rate of 10-15 percent annually (FSA, 2006). Procedure: As education elevates financial literacy on Islamic banking and conventional banks, the plan needs considerable amount of capital for financial institutions might think twice of this trial and error means because of the ongoing recession. Profit is also uncertain brought by the reality that Islamic banks have incurred lucrative losses when they entered the real economy as they are more prone to risk. The challenges f or conventional and Islamic banks are the same as both of them are expected to implement new ways of improving their financial performance at a higher rate. However, they differ in principles considering that Islamic banks operate in accordance with Shariah which is to promote profit-and-loss in line with the
Sociology for Social Work - Essay Example Applied research on the other hand, as postulated by Pickering (2001), has to do with pursuing knowledge so as to enhance program application or policy assessment. In most instances, social programs are assessed on the basis of their effectiveness in diminishing an experienced problem or in enacting desirable changes. Information retrieved by way of applied research can be inculcated into social programs like the one Ms. W was signed into. It is characteristic of all sociological research to commence with a theory. As such, the research identifies a client, for our case Ms W, whereupon he attempts an explanation, ultimately offering the derived explanation for the exhibited behaviour patterns. As postulated by Frankfort-Nachmias and Leon-Guerrero (2003), the researcher identifies causal relationships between variables. Variables in sociological research are features of individuals or items that ideally can take on two or more values. As sociologists try to explain Ms WÃ¢â¬â¢s behaviour they may give a specific explanation regarding the relationship that characterises two variables, for instance, the husbands death and her denial to own her problems. Ms W. denial can be measured according to a variety of variables. These could be her lack of acknowledgment of having paranoid schizophrenia, her s trange behaviour in public as well as her refusal to take medication. The researcher states the relationship that exists between these variables in a hypothesis as Astbury (1996) contends. A hypothesis is a tentative statement which tends to assume to know how the variables relate to each other. A researcher could assume that upon the death of Ms. WÃ¢â¬â¢s husband together with the frustration she received from her dealings with the government, she was overwhelmed and thus broke down into paranoiac schizophrenia. Research methods are constituted by a combination of
Thursday, August 22, 2019
Shakespeares Romeo and Juliet Essay In Shakespeares Romeo and Juliet, the character Friar Laurence had the greatest influence on the tragic outcome of the play. Friar Lawrence was a trusted holy man whose judgment was held in the highest reverence by Romeo and Juliet. However, he failed to provide a wise solution to their dilemma. Romeo and Juliets demise was the product of the Friars predisposition to act in haste, his irresponsibility and his fear of being disgraced. The Friars first shortcoming that contributed to the tragic result is the way he commits to impulsive and rash decisions. For example, when Romeo tells the Friar of his new love for Juliet, the Friar tells Romeo that he is acting too hastily and not thinking about the consequences, they stumble that run fast. (II. III. 94). However, despite his advice to Romeo of thinking before acting, he decides to marry them in hope that this will end the family feud, even though he knows that the secret wedlock can only further infuriate the two families. This is evident when the Friar says: Both Romeo and Juliet respected Friar Laurences decisions, and although he preaches the value of patience, his own impetuous conclusions is the first way he led Romeo and Juliet to catastrophe.Ã Friar Laurences second inadequacy that had a negative impact on the play is his irresponsibility. Although he should be the figure of dependability, the Friar is the one whose plan is the least dependable. Instead of thinking of a way to diplomatically arrive on a mutually satisfying agreement between the Capulet and Montague houses, he devises an outrageous plan that has almost no chance of success. He gives Juliet a potion to make her appear dead, and although Juliet knows this plan carries a huge risk, she is so distraught by Romeos banishment that she is willing to try anything. She even goes as far as questioning the Friars motives: Instead of avoiding senseless plans, the Friar not only generates a plan which is doomed to fail, but does not even responsibly administer the plan. He sends Friar John to send the letter to Romeo that explains the plan. He had not made it clear to Friar John how important the delivery was, since the messenger became quarantined in a house due to suspicions of being infected with disease. Friar Laurence should have been responsible enough to deliver the letter himself, and this is the second way in which he negatively affects the outcome of the play. The final way in which Friar Laurence unconstructively influenced the play is his fear of sin and getting in trouble. In the tomb, Juliet woke up and found Romeos dead body beside her. Friar Laurence had been late to wake up Juliet and when he realized what happened, he directed Juliet to escape with him:Ã Stay not to question, for the watch is coming.Ã Come, go, good Juliet. I dare no longer stay.Ã (V, III, l. 158-159) He then cowardly ran out of the tomb because of his fear of being caught by the Prince and his men. He left the shocked Juliet alone and he knew she was willing to kill herself over Romeos death. Later on, when Juliet killed herself and the Capulets and Montagues wanted an explanation, he admitted that he was at fault:Ã Miscarried by my fault, let my old life be sacrificed.Ã Unto the rigor of severest law.Ã (V. III. 267-269) This fear of being caught is the third way that Friar Laurence has negatively affected the play.Ã In conclusion, Friar Laurence was important because he holds the greatest blame for the tragic events in the play. He did this because of his hasty decision-making, his irresponsibility and his uncertainty for his safety. The outcome of the play might have been happier if someone else directed Romeo and Juliets actions. He does have the best intentions for Romeo and Juliet, and it is ironic how his best intentions cause the greatest tribulations for the two lovers. If the Friar had acted the way he had preached to Romeo, he would be a hero. As he had described the misapplied virtue of the herbs in the garden, the same applies to him: Virtue itself turns vice, being misapplied.
Wednesday, August 21, 2019
The Great Pyramid Of Khufu History Essay In the Old Kingdom sometime between the years of 2575 BC and 2134 BC the Egyptians constructed The Great Pyramid. The Pharaoh Khufu ordered the building of a pyramid of greater dimensions than any other pyramid ever constructed. In hope to increase interest in the building of his pyramid Khufu shut down other temples to divert the interest to his site. Khufu chose to build on the Giza plateau on the East side of the Nile River. It is said that Khufu ordered slaves to construct the huge pyramid, but this is incorrect. The pyramid was built by about 5,000 free citizens of Egypt drafted for public work. The men were divided up into gangs of laborers and masons. The laborers consisted of approximately 18 to 20 individuals. The laborers would personalize the blocks of stone in which they moved with their groupÃ ¿Ã ½s name. Using stone cut mostly from a quarry right on the Giza plateau the laborers quarried and hauled the massive blocks of stone up the pyramid (Egypt 55). Fine white lime stone was taken from Tura across the Nile River. The granite used for the kingÃ ¿Ã ½s burial chamber was quarried from Aswan, 400 miles upriver from Giza (Egypt 58). The blocks of stone weighed as much as 15 tons as the granite stones were the heaviest (Casson 131). The total weight of the pyramid is 6.25 million long tons of stone (Harris 86). The Great Pyramid has a total of about 2,250,000 blocks of stone (Woods 16). This feat is almost unheard of today with the use of new machines and techniques for hauling and moving incredibly heavy objects. The Egyptians used some rather ingenious ways to keep their building project on the perfect side. The crews would dig connected trenches around the building site and fill the trenches with water. After filling the trenches with water they would tie a length of rope at equal height onto two sticks. Thus stretching the rope taunt they could see any unleveled points to fill or level off to keep their base even all-around (Casson 133). The l aborers used log rollers to aid in the moving of the massive blocks of stone. Before tipping the stone onto the rollers the side that is to be faced down on the logs is finished early to ensure a smooth ride (ibid. 131). Seeing how organized the ancient civilization was proving itself to be, historians are not shocked to find that they used a four-way ramp system to haul the blocks of rock to the upper most places of Khufus pyramid. The system used three ramps that formed three squared off spirals to the top, and one ramp that followed the same form down and off the formation (ibid. 134). This gives us four tiers of ramps, a sort of Egyptian highway system of on and off ramps. French architect Henri Chevrier tested the ramp theory with 50 men and a one ton block of limestone set on a track of wet mud from the Nile River. The results showed that one man harnessed to a rope could move the block on a level surface, 1 not all 50 (Egypt 58). After possibly what might have taken the entire twenty-three year reign of Khufu the structure was complete. The entrance lead down around 60 feet. The next obstacle to be faced is three stone sealing plugs that slid in front of the entrance to prevent grave robbers from entering. The sealing blocks kept robbers out for about 400 years till finally they got through and stole the contents of the pyramid (Casson 136). Then advancing upward to a second burial chamber that was left incomplete, this chamber is commonly misnamed the Queens Chamber. Then we fall upon a 153 foot long 28 foot high tunnel called The Grand Gallery. The Grand Gallery is noted for its ceiling made with tiers and braces (ibid. 136). After traveling through The Grand Gallery we find ourselves in the actual burial chamber of Khufu. The sarcophagus still stands at the west end of the chamber; of course it has been empty for some time now. This chamber was actually the third placement designated by Khufu. Each time hi s aspirations grew he wanted the pyramid bigger, and his tomb higher. The burial chamber was designed with six stress relieving roofs made of granite to support the tons of block over head (ibid.136). This monument of Egyptian architecture and technique covers a land mass of 13.1 acres. At the top of the once gold capstone the pyramid stands 482 feet high, now it is 31 feet shorter due to other projects taking stone from the handy source. The sides at the base are an astounding 756 feet long. (Egypt 53). I want to share with you the strange tales and theories about the Egyptians being able to see the future. One theory is from the Scottish astronomer Charles Piazzi Smyth. Smyth believed that the pyramid reflected measures of time and distance that could have then been only from a divine source. The pyramid showed the distance of the sun to the earth when its height in inches is multiplied by 10 to the 9th power. Smyth also said that the perimeter of the pyramid equaled 1000 times 365.2, the number of days in a solar year. Unfortunately Smyths measurements were proven wrong by British archaeologist Flinders Petrie (Egypt 55). Even thought the construction of the pyramid still has its doubts and theories, we find that the Egyptians used such great accuracy in their techniques that some spots in the pyramid have gaps only about .0001 inch (.0003 cm) wide (woods 23). This is about large enough to squeeze a postcard through. This brings us to the outside surroundings of the Great Pyramid. There are two other major pyramids at the Giza site. The second biggest is the pyramid of Khafre, and the smallest of the three is the pyramid of Menkaure (Egypt 56). These other pyramids were built after Khufus death. The second largest was built by his son, (Khafre), and his grandson, (Menkaure). In the surroundings of the Great Pyramid the Great Sphinx is found. This 240 foot long and 66 foot high Guardian ordered by King Khafre was carved out of an outcropping left behind at the limestone quarry that supplied the stone for the Great Pyramid (ibid. 60). Perhaps one of the greatest discoveries found around the perimeter of the Great Pyramid is the twin pits that contain funeral boats for Khufu. During a routine clearing of the base of the pyramid in 1954 Egyptian archeologist Kamal el Mallakh uncovered what he at first thought to be a part of the enclosure wall. Then Mallakh noticed that this section was closer than on the other sides. Thinking of a possible find he instructed to dig deeper until a row of 81 huge limestone blocks in separate sets were apparently covering the twin pits. After careful work Mallakh opened a hole in one of the six-foot-thick slabs. Under that slab he saw an oar and realized he had come upon a historical relic, a cedar funeral boat of Khufu. It took about sixteen years to remove the boat from the pit. Not wanting to risk the loss they left the second pit untouched (ibid. 61). Today the boat is on display in a special museum along side of the Great Pyramid of Khufu (ibid. 59). Another great discovery was found around the Great Pyramid by accident. In 1925 a photographer while setting up his tripod to take photos of The Great Pyramid nicked a piece of plaster from a hidden opening cut into the rock. Archaeologists removed stones and revealed a 100 foot shaft that lead down to a tomb. The tomb belonged to Queen Hetepheres, Khufus mother. After a total of three-hundred-twenty-one days of work it became apparent that 4500 years had taken its toll on the tomb. Most objects were already decayed almost to nothing. Using 1701 pages of sketches and 1057 pictures of the site most items were able to be reconstructed (Egypt 54). In front of the pyramid was what is known as the Great Causeway. The Great Causeway led to a rectangular mortuary temple. From this point the coffin was taken to a spot below the tomb entrance and then hauled up 56 feet to the opening of the pyramid (Casson 138). Also next to the pyramid are three satellite pyramids that belonged to the rulers three queens. There were also several fields of mastaba tombs and two temples, all connected by The Great Causeway (Egypt 59). Until recently it was thought that we had little chance of finding all of the missing sections of KhufuÃ ¿Ã ½s pyramid. In 1990 workmen installing sewer lines hit upon a part of the Great Causeway. After this finding the original path of the Causeway was easily mapped. The government of Egypt wants to move the residents of Nazlet el Simman and excavate the site (ibid. 59). The location of the Great Pyramid at Giza has been a popular place throughout time, and time has definitely taken its toll on the Great Pyramid. Unfortunately we have almost no tombs from the old kingdom left with artifacts and treasures from the nobility that once inhabited them. Khufus Great Pyramid is unfortunately one that was made in the old kingdom, hence it was not well preserved and artifacts are rare (Harris 88). Another fear is as man progresses the pollution will cause the rocks on the pyramid to erode at a much more rapid pace. Possible tourism someday will take a toll and start to make the wonderful site deteriorate much more rapidly than it would if we were to just admire from a distance. The pyramids at Giza remain the only of the seven wonders of the ancient world that is still here (ibid. 85). The future holds the truth of what time will do to the Great Pyramid. If it is treated like the sphinx has been we may be in danger of some idiot shooting a cannon at it. If hi story continues on the path it is set on now there is nothing to stop the Egyptians from using the blocks as a handy source for outer building projects. Time has been responsible for the changes in the pyramid: the contents have disappeared, outcroppings have been buried and possibly lost forever, and the environment has taken its toll on the massive structure. In conclusion, The Great Pyramid has open eyes on the techniques and loyalty of the ancient Egyptian empire. The Egyptians have constructed a piece of history that can only sit on a list of seven; the other six are no longer in existence. This makes the pyramid the last of the seven wonders of the ancient world. There will probably never be anything constructed with such raw accuracy and detail without computers and machines. I hope you have enjoyed the information I have given you on: the construction of the Great Pyramid, the surroundings of the Great Pyramid, and the effect of time on the Great Pyramid of Khufu.
Tuesday, August 20, 2019
Strategies To Resolve The Principal Agent Problem Accounting Essay In general, the principal-agent problem refers to difficulties of motivating one party the agent to act for the best interest of the other party the principal. In a company, the owners of the assets (the stockholder) are the principals and the managers of the company are the agents. The stockholders of the company authorize the managers to manage and use their resources to make profit for the stockholders. (Kaskarelis, I. A. 2010) The cause of the principal-agent problem is that the information asymmetry between the principal and the agent and the principal and agent have different interests. (Ulrike, L., Arleta, M) Generally, the Agents are the managers of the resources and have more information than the principals. In a company, the managers of the company will have more information about the company than the stockholders of the company. The agents may use this asymmetric information to get interest for themselves rather than the principals. Figure 1, Basic Model of Principal-agent problem In general, the principal-agent problem is the problem that the agent is not doing the best for the principals. The so-called principal-agent problem is really caused by the interest conflicts between the two parties. As a principal, he or she wishes the agent to do the best for his or her interest. As an agent, he or she should do the best for the principal. However, without enough and appropriate motivations from the principal, the agent may not doing the best for the principals. If the agent is not acting for the interest of the principal, the moral hazard happens. This is the classical model of principal-agent problem. In order to motivate the agent to work for the best interest of the principal, incentives should be given. Strategies to resolve the principal-agent problem Make appropriate incentive structure The first strategy of solving the principal-agent problem can be from the incentive aspect of the agent. The cause of the principal-agent problem is the motivation given to the principals. Based on the experiment of principal-agent problem, high performance of the agents were observed if good compensations were given to the agents. (Ulrike Leopold-Wildburger, Arleta Mietek, 2010) Even though the relationship between the compensation and the performance is not linear, the outputs of the agents have positive relationship with the compensation of the agents. Yuliy Sannikov (2008) advocates that the dynamic incentives play very important role in the economic life. In a company, the wages of the managers and also the employees can affect the performance results of the company. Connecting the compensations of the agents to the performance will give incentives to the agents to do their best. In a company, the employees salaries can be connected to the performance results of the employees. The managers salaries can be linked to the performance of the company. In this situation, the managers of the company will have enough incentive to do their best. The stockholders of the company can also enjoy the better profits of the company. One alternative solution is to give the managers of the company certain amount of corporate stocks. The income of the managers are affected by the stock prices (Bruhl, R. H. (2003). The managers will have the incentive to do the best to increase the stock price of the company. In fact, many listed companies have the so called Equity Incentive Package (Bronstein, R. J. 1980). Pro and cons This strategy of solving the principal agent problem is the most basic one and the short-term effect can be seen immediately. Linking the agents compensation with the performance by giving the managers corporate stock is the most effective way to solving the principal agent problem. The potential drawback of this strategy is that giving the managers stock may result in the possibility of insider trading. Evaluate the performance of the agent continuously The second strategy of solving the principal-agent problem is to monitor the agents behavior and evaluate the performance of the agents. I will explain this in the case of a company. In a company, the managers as the agents and the stockholders of the company are the principals. The managers behaviors are monitored by the stockholders closely in order to make sure that they are doing the best for the interest of the stockholders. In the company, the evaluation of the performance of the company is also very important. When the evaluation of the performance plays a role in determining the compensation of the employees, that is to say there is still room for the employees to improve the performance (Carl Blumstein, 2010). with the monitoring of the companys performance, the managers of the company tend to perform better. Pro and cons Continuous evaluation of the performance in a company can motivate the managers continuously (Long, N., Sorger, G. 2010). Because of the continuous motivation, the performance of the company can keep improving. This is the biggest advantage of the strategy. However, the evaluation process of the managers is a time and money consuming task. The evaluation or monitoring of the agents may incur a lot of expenses. Regulate the agent with moral standards The principal-agent relationship is not only a kind of legal relationship between the principal and the agent. The principal agent problem is also a moral hazard problem (Randy, S. 2011). According to the basic business ethics, it is ethical for the agents to do the best to represent the interest of the principals. The first strategy of solution by building the appropriate incentive structure of the agents and the second strategy of monitoring the activities of the agents can get only short term results. In the long term, establishing the ethical awareness of representing the best interest of the stockholders can be a good choice. With a good ethical awareness, the principal and agent problem can be solved in the long term (Ruachhaus, R. W. 2009). In the case of Psychiatrists Relationships with Industry, the principal agent problems can be solved from both incentives and ethical view (Appelbaum, P. 2010). The doctors are the agents of the patients. The doctors with high moral standard will not recommend medicines of high cost to the patients unless is necessary. Pro and cons The moral standard improvement requires a long time and also needs the commitment of the employees. The moral issues in the principal agent problem can be seen clearly, but sometimes it is very difficult to distinguish. The potential advantage of this strategy is that it can achieve long term result in the company. Conclusion The principal agent problem comes from the asymmetric information between the principal and the agent and the principal and agent have different interests. The principal hires the agent to work for him and the agent works for the interest of the principal. Without enough motivations, principal agent problem appears. The principal agent problem is also a moral hazard problem. There are three alternative solutions to overcome the principal agent problem. One is to give incentives to the agent. The second is to evaluate and monitor the agents activity to make sure the agent works best. The last solution is depending on the moral standards. All these three solutions have different advantages and disadvantages.
Monday, August 19, 2019
An article by John Piper titled Ã¢â¬Å"Truth & LoveÃ¢â¬ offers up a compelling relation between how the world defines and handles education and relationships to what the bible has to say about it. Piper says, Ã¢â¬Å"I find in place of the words, "education" and "relationship," the words, "truth" and "love."Ã¢â¬ (Piper, 2011) The way those two are entirely parallel can teach people an enormous amount about how to go about having meaningful relationships. If education is truth, and relationship is love, then they are connected. To love someone is to have a relationship with them, to tell someone the truth is to educate them about something. Therefore, how cruel is it to withhold knowledge, or worse yet, teach them an altered education. To have one without the other is like taking away a vital working part of a machine, it simply wont work like it was created to. Friendships wont work like they were designed if either love or truth is absent. Just as truth supports love, Piper follows that by speaking on how love is equally as supporting to the truth. Ã¢â¬Å"But there is a way to speak the truth in love, and that we should seek. It is not always a soft way to speak, or Jesus would have to be accused of lack of love in dealing with some folks in the Gospels.Ã¢â¬ ¨Ã¢â¬ ¨ But it does ask about what is the most helpful thing to say when everything is considered. Sometimes what would have been a hard word to one group is a needed act of love to another group, and not a wrong to the group addressed. But in general, love shapes truth into words and ways that are patient and gentle (2 Timothy 2:24-25).Ã¢â¬ (Piper, 2011) A general misconception that speaking truth in love must be meek and soft spoken is often what keeps people from being bold in love in their relationships. Th... ...itual-well-being/5580-education-and-relation-truth-and-love The bible. NLT Beebe, S. A., Beebe, S. J., & Redmond, M. V. (2010). Interpersonal communication, relating to others. (6th ed., pp. 288-292). *Sources up until this point were congruent with the requirements of the paper, the rest are extras. Ekman, P. and Friesen, W.V. Ã¢â¬Å"The Repertoire of Nonverbal Behavior: Categories, Origins, Usage and Coding,Ã¢â¬ Semiotica 1 (1969): 49-98 McCornack, S.A. and Levine, T.R. Ã¢â¬Å"When Lies Are Uncovered: Emotional and Relational Outcomes of Discovered Deception,Ã¢â¬ Communication Monographs 57 (1990): 119-38 iPerceptive. (2011). Honesty quotes. Retrieved from http://iperceptive.com/quotes/honesty_quotes.html Foundation, C. (n.d.). Pondering point: Does this make me look fat?. Retrieved from http://www.charmmdfoundation.org/PonderingPoint/PonderingPoint_RB100909.pdf
Sunday, August 18, 2019
The Bean Tree Write a composition based on the novel you have studied discussing the basis for and impact of individual choices. What idea does the author develop regarding choices? 	Living is about making choices. The choices people make shape their lives for better or worse. Even the decision not to choose has its effects, often not wanted. But the individual who chooses to make positive choices and to act accordingly is more likely to see his or her life reflect his or her beliefs and desires. Usually the individual who chooses to take action is also willing to face the risks and obstacles that such choices involve. 	"The Bean Tree," by Barbara Kingsolver, is a warm, funny story about a personal journey of self-discovery, commitment, and risk-taking which illustrates these facts. Its spirited protagonist, Taylor Greer, grows up poor in rural Kentucky. In her town some families "had kids just about as fast as they could fall down the well and drown," and a boy with a job as a gas- meter man was considered a "high-class catch." Simply avoiding pregnancy was a major achievement for Taylor. She needed to get away from there to get ahead, and when she goes, she leaves almost everything behind, including her real name. Taylor is the name she adopts at the place where her car runs out of gas, in Taylorville, Illinois. 	However, what starts out as a commonplace search for personal opportunities soon turns into a test of her character and beliefs, and of her ability to face and overcome obstacles. On her way west with high hopes and a barely functional car, she acquires a completely unexpected child. The baby girl is given to her outside a bar, by a desperate Indian woman. Taylor moves on to Tucson, Arizona, with Turtle, as she calls the little girl. There she makes new friends, finds work, and settles down to a new life. However, since Turtle is not her legally adopted daughter, Taylor finds herself at risk of losing her to the state authorities in Arizona. She must formalize her relationship with her new-found daughter. She chooses to do what it takes to adopt Turtle. She has to find a way to contact Turtle's relatives in order to get their signatures to adoption papers. She decides to take her out of state, back to Oklahoma, along with Estevan and Esperanza, a refugee couple from Guatemala ... ...s can arise, but choices made with some understanding of the alternatives will usually work out better than leaving matters to chance. Also, if choices are made with the welfare of others in mind they are more likely to be the right ones. In particular, if there is a problem to solve that involves conflict between the law and conscience, the best solution may be to follow one's heart. If a decision is guided by conscience, no one can better tell one what to do, or how to do it. That is how Taylor is able to take her loved ones out of Arizona, even though it means breaking the law. She feels she can not do otherwise, and the law has to take second place. Someone else might not do the same. Everything depends on both conscience and courage, but not everyone has these qualities in the same degree. Nonetheless, if even breaking the law must sometimes be considered, it can best be done by an appeal to common humanity, conscience, and the heart. That is exactly what Taylor does here. B ut, like Taylor, people must be prepared to live with the possible consequences of their choices and actions. Knowing clearly, however, why one's choices are made, makes such risks or obstacles acceptable.
HavenÃ¢â¬â¢t you ever wondered why Japanese students continually score higher in academics than the rest of the entire world? Education and schooling in Japan varies greatly than the schooling in America. Japanese students have a greater advantage over their American counterparts in such a way that they are gaining more of an education than the Americans. The Japanese students have to study diligently and work hard to gain a hope of getting a continued education. Japanese children have a greater opportunity to seize hold of their education than the American children. Ã Ã Ã Ã Ã Whenever people start to think about education and IQ's in general they tend to think of Japan. Japan has the leading literacy rate; at over 99% of its population having the ability to read and write. The Japanese system of education is very well organized and structured. This is due, in part, to the standardization of the subject matter and teaching tools. Students have an equal chance to get the curriculum if they transfer to a different school. This is because the Ministry of Education, Culture, Sports, and Science sets the curriculum at a standard for teachers in all schools to follow. Japan's modern school system was established about a hundred years ago. This was about the time when Japan was opening trade to the rest of the world and westernizing in general. It modeled its education systems after the French and German school systems. However, it does not model just one country; it models many of them. They combine this with their own ideas to form their own personal school system. Ã Ã Ã Ã Ã Students at the elementary level have great expectations. Their environment reflects their academic priorities. There are around twenty-five thousand elementary schools throughout Japan. A typical Japanese Elementary school will have around 300 students and a variety of activities that go on. This means that the schools are many and can focus more on the children. Students get the chance to excel in their lives. Ã Ã Ã Ã Ã In the Japanese school day, students are in their classrooms by 8:30 a.m., and school gets out at 3:45 later that day. Those are for their typical public school classes. They have six classes throughout their school day. There are a lot of things to do in addiction to learning and studying. There are committee meeting... ...ernization III.Ã Ã Ã Ã Ã Secondary Schools A.Ã Ã Ã Ã Ã Difficulty B.Ã Ã Ã Ã Ã Materials C.Ã Ã Ã Ã Ã Entrance Examinations IV.Ã Ã Ã Ã Ã Juku and Yobiko A.Ã Ã Ã Ã Ã Cramming B.Ã Ã Ã Ã Ã Time C.Ã Ã Ã Ã Ã Entrance Examinations V.Ã Ã Ã Ã Ã High School A.Ã Ã Ã Ã Ã Curriculum B.Ã Ã Ã Ã Ã Tracking C.Ã Ã Ã Ã Ã Entrance Examinations These Japanese children definitely have a competitive educational edge over a lot of the world. Although they are oftentimes pressured into their studies, they come out on top and have learned a great deal. And most of the children actually want an education. They are not just at school because they have to be. Senior High schools have over 90% admission rate to Colleges and Universities. Once they attain the College-level status, a lot of students describe it as a walk in the park in comparison to their previous years of education. These years of education allow them to become a major educated force to be reckoned with.
Saturday, August 17, 2019
The play Macbeth was written by WIlliam Shakespeare in the 1600Ã¢â¬â¢s. The whole play revolves around the theme of power. The theme of power is shown through ambition, betrayal and revenge using the symbolisms of sleep and blood. William Shakespeare used the issue of ambition to portray power in Macbeth. Macbeth was driven by his ambition of gaining power. MacbethÃ¢â¬â¢s hunger for power made him blond to the atrocities and iniquitous deeds he was performing. In Act 1 Scene 7 Macbeth is stating that ambition was his only motivation to kill Duncan. Ã¢â¬Å"I have no spur To prick the sides of my intent,but only Vaulting ambition which oÃ¢â¬â¢erleaps itself And falls on thÃ¢â¬â¢other.Ã¢â¬ Shakespeare used a horse metaphor to show the conflict of emotions in MacbethÃ¢â¬â¢s mind.Macbeth thinks of his purpose to kill Duncan as a cavalry horse:but he has no motive to urge it into action so it stands still. MacbethÃ¢â¬â¢s ambition is pictured as a rider springing into his saddle who overleaps himself and falls on the other side of his steed.Macbeth means that his ambition to be king would inevitably lead him too far. The quote is effective in defining MacbethÃ¢â¬â¢s drive to ambition. Ambition is used by Macbeth to take the power from Duncan. William Shakespeare used the issue of betrayal to portray power in Macbeth. The issue of betrayal is shown throughout the play from the start when the Thane of Cawdor betrayed Duncan. Macbeth betrayed Duncan,his guest,king and relative by killing him to take the crown of Scotland. Macbeth betrayed his friend and colleague Banquo who stayed by his side when they were fighting against the Norwegians. Macbeth also betrayed Lady Macbeth his wife by dismissing her from formal duties. In Act 1 Scene 7 Macbeth is telling lady macbeth to hide their knowings of duncanÃ¢â¬â¢s murder under an innocent face. Ã¢â¬Å"Away,and mock the time with the fairest show, False face must hide what the false heart doth know.Ã¢â¬ Shakespeare used an iambic Pentameter to lend dignity and presence to Macbeth after his devious plans to kill Duncan. The quote is effective in showing that Macbeth would betray his king and guest and act innocent with the devious plan in his mind and stoop low just to gain what he wanted. Betrayal is the weapon that Macbeth used to gain power. The issue of revenge was used by William Shakespeare to show power in Macbeth. Revenge was shown from the start of the play when the witches got revenge on the sailors wife who didnÃ¢â¬â¢t give the witches any chestnuts. Banquo got his revenge on Macbeth when he came back as a ghost and frightened Macbeth as well as embarrassing him in front of other thanes. Macduff got his revenge by killing Macbeth who slaughtered his family. In act 4 scene 3 malcolm comforts macduff who heard that his family was slaughtered by Macbeth by telling him to make revenge his medicine to cure his grief. Ã¢â¬Å"letÃ¢â¬â¢s make us medÃ¢â¬â¢cines of our great revenge To cure this deadly griefÃ¢â¬ Malcolm is telling Macduff to make the revenge on Macbeth, a medicine that would cure his grief. Malcolm is implying that revenge is sweet. The quote is effective in showing that macduffÃ¢â¬â¢s revenge on Macbeth was to cure his own grief caused by Macbeth. Revenge was the issue which made one person to rise up or fall down. Blood was a symbolism which helped to symbolize the issues that shows power in Macbeth. The word Ã¢â¬ËbloodÃ¢â¬â¢ occurs frequently throughout the play. In act 1 scene 2, the wounded captain told a report which described the bloody war. Blood was also related to guilt after after macbeth had murdered Duncan. Once Macbeth and lady Macbeth embark upon their murderous journey, blood comes to symbolize their guilt, and they begin to feel like their crimes have stained them in a way that cannot be washed clean. Blood symbolizes the guilt that sits like a permanent stain on the consciences of both Macbeth and lady Macbeth, one that hounds them to their graves. The enormity of MacbethÃ¢â¬â¢s crime has awakened in him a powerful sense of guilt that will hound him throughout the play.
Friday, August 16, 2019
The fragmented shipping industry is one of the most essential industries for continuous globalization and growth; industry prospects are surprisingly stable in contrast to the normal logistics businesses that are highly cyclical. The factors that drive average daily hire rates are the age of vessels, market condition, the supply and demand and the size of the ships. Daily hire rates are found by the interaction of the supply and demand of vessels. The supply is influence by market demand for shipping capacity, the efficiency and size of vessels and the rate of scrapping. The demand is influenced by the situation of the world economy, technological changes and trade patterns. There is a strong positive relationship between spot/time charter hire rates and demand for iron ore vessel shipments (exhibition 5). This is due to the fact that rates are set by current market conditions and expectations that also influences investment decisions in new vessels. Spot hire rates are expected to decrease next year because there is a big number of vessels order for next year, according to exhibit 3. Compared to exhibit 2, itÃ¢â¬â¢s a big proportion. So the supply will be large, leading theÃ rates to decrease. In the next few years, there will be a large supply of new capsize vessels. And also, there will be some vessels that are over 24 years and will be scrapped. But the old vessels just total a small portion. So the influence that brought by the old vesselsÃ¢â¬â¢ scrap is minor. Another point is, if Australia and India ore export is going well in the next few years, it would be very good for this industry and make the hire rates decrease. According to calculation, the 15 yearsÃ¢â¬â¢ plan will generate positive NPV as compared to NPV of 25 years plan. The forecast is highly optimistic about the industryÃ¢â¬â¢s long-term prospects with continuous growth. Real economic growth will give rise to higher demand for the commodities transported and spot rates will alienate with the ones from 2000. In fact, in 2002 the iron industry will recover, especially because of an increase in the trading volumes, thanks to the growth of the Indian and Australian market, also influenced by the efficiency gains due to gradual technological improvements. The choice of making 3 installment payments provides the company with a large non-recurring capital outflow in 2 short years that will cause grave liquidity constraints, investing $500,000 in net working capital compensates for this. However, Ocean Carriers should try to increase the payments period in order to be able to keep working capital at higher levels. Reevaluating the capital structure is strongly recommended since lower costs would decrease the discount rate and increase the NPV. The corporate strategy obviously has to be reevaluated concerning when to decommission the vessel since this makes the project not financially supported. The higher costs of operating an older vessel is obviously lower that the gains of doing so. There need to be more data to support that the firm is able to lock higher prices which would enable them to receive higher cash flows and with greater certainty. Extending the years of service for the vessels from 15 to at least a span where NPV is positive is crucial for future projects to be even considered.
Thursday, August 15, 2019
Ã¢â¬Å"It was on a dreary night of November, that I beheld the accomplishment of my toils. With an anxiety that almost amounted to agony, I collected the instruments of life around me, that I might infuse a spark of being in to the lifeleless thing that lay at my feet. It was already one in the morning; the rain pattered dismally against the panes, and my candle was nearly burnt out, when, by the glimmer of the half-extinguished light, I saw the dull yellow eye of the creature open; it breathed hard, and a convulsive motion agitated its limbsÃ¢â¬ (Shelley, 34). Thus begins the horror in Mary ShelleyÃ¢â¬â¢s well-known gothic, romantic fiction, Frankenstein. This literary work, published in 1818, tells the story of a young scientist who comes upon the secrets to create life. The novel begins with the correspondence of letters between Captain Robert Walton, a young English explorer in pursuit of discovering the Northwest Passage, to his sister Margaret Saville. The first few letter s in the novel recount to Margaret the progress of WaltonÃ¢â¬â¢s voyage. Upon reaching a plot of impassable ice, Walton encounters Victor Frankenstein upon a slab of ice, and brings him aboard the ship. As Walton nurses the dreadfully weakened Frankenstein back to help, his vigor for seeking success and the unknown leads Frankenstein to relate the story that led to his misfortune. Frankenstein begins relating his story to Walton. He tells Walton about his family and childhood in Geneva. Frankenstein recounts of his love for science and seeking out the causes of things since he was very young. Upon coming upon the works of Cornelius Agrippa, Frankenstein is enraptured with philosophy and the thought of creating life. This love led Frankenstein to attend the University of Ingolstadt, where he studied chemistry and natural philosophy. As his time passed there, Frankenstein became increasingly obsessed with discovering the secret of life. This led to a continual pouring and dedication to that one area, until he at last discovered it. Upon discovering the secr et of life, Frankenstein poured himself into forming a human from old, decaying body parts and brings to life his creation. Though he initially began praising his creation, his joy soon turns to horror at realizing the grotesque, appalling being he created. Frankenstein flees from the creature, and returns to find it gone. As the novel progresses, each of FrankensteinÃ¢â¬â¢s loved ones is killed, and he vows himself to seek out the creature and destroy it. The novel shares the story of the incidents that led up to theÃ creation of the monster and the sad destruction of the innocent affected by one manÃ¢â¬â¢s unharnessed passion to seek knowledge no matter the cost. Throughout the novel, Shelley portrays the theme of the danger of knowledge in the characters of Walton, Frankenstein, and the creature. Mankind, since its beginning, has always had a great thirst and craving for knowledge. In Frankenstein, Shelley seems to question the wisdom in such a pursuit and sends a precautionary warning to those who read it. This thirst for knowledge, though it can be a blessing and beneficial, can become a danger ous endeavor. The first character that Shelley introduces that shares this passion for knowledge and the unknown is Robert Walton. At the beginning of the story, Walton begins by writing to his sister and informs her of his yearning to seek out the unknown. Walton expressed to his sister how she cannot imagine the benefit that he would, Ã¢â¬Å"confer on all mankind to the last generation, by discovering a passage near the pole to those countries, to reach which at present so many months are requisite; or by ascertaining the secret of the magnet, which, if at all possible, can only be effected by an undertaking such as mineÃ¢â¬ (Shelley, 20). This quote exemplifies from WaltonÃ¢â¬â¢s letter how passionately he sought out after knowledge. After Walton finds Frankenstein and brings him aboard, he explains his pursuit to Frankenstein. Walton expresses that he would sacrifice, Ã¢â¬Å"my fortune, my existence, my every hope, to the furtherance of my enterprise. One manÃ¢â¬â¢s life or death were but a small price to pay for the acquirement of the knowledge which I sought for the dominion I should acquire and transmit over the elemental foes of our raceÃ¢â¬ (Shelley, 11). This quote foreshadows the dangerous path Walton is treading upon. Once compared to the story of Frankenstein, the reader can understand that the dangerous road Walton was on, could ultimately lead to a similar result as FrankensteinÃ¢â¬â¢s. Both men fervently sought knowledge without mind of the end result. Walton and Frankenstein shared a concern only for the present and the fame and knowledge that could be attained now, without considering the possible deadly fruit of their labor. Thankfully, Walton heeded the advice of Frankenstein, and was spared a possible dreadful ending. Unfortunately, Frankenstein had not been given the same warning in advance, and was forced to reap the fruit of his pursuit. The second main character that Shelley introduces that contains a p assion for knowledge and the unknown is VictorÃ Frankenstein. When Frankenstein is found by Walton, he relates his story to him after perceiving that Walton walks on a similar path as he once did. He expresses his horror in the thought when he cried out, Ã¢â¬Å"Unhappy man! Do you share my madness? Have you drunk also of the intoxicating draught? Hear me,- let me reveal my tale, and you will dash the cup from your lips!Ã¢â¬ (Shelley, 12). Frankenstein wished to save Walton the agony and pain from walking along the stinging road that he had traveled upon. Frankenstein soon begins his narrative of his story and related to Walton how his thirst for knowledge and the unknown had begun while he was yet a young child. He tells of how he became obsessed with natural philosophy and chemistry, and the elixir of life upon entering the University of Ingolstadt. As he knowledge and intelligence grew, so his infatuation with the human frame and discovering the secret to create life. At last, Frankenstein came upon the secret that led him to begin the construction of a creation- a being that he could breathe life into. As he worked, he was blinded to the thought of what may result of thi s creation, and he worked continually. Not for a moment did Frankenstein step back to rationalize what he was creating. He was blinded to all except the thought of success and creating life. As a result, VictorÃ¢â¬â¢s creation was formed. As the monster came to life, only then did Victor understand what he created. He abhorred his own creation, and could not lay eyes on it for fear and horror. FrankensteinÃ¢â¬â¢s uncontained ideas and thirsts caused him severe pain as his creation destroyed all he treasured. The third and final example in ShelleyÃ¢â¬â¢s novel that displayed a desire for knowledge was the FrankensteinÃ¢â¬â¢s creation- the monster. When the monster was first created, he was as a newborn babe. Unable to distinguish his surroundings and completely defenseless, he wandered around searching for comfort. Like a child, he grew in knowledge as he roamed, and soon was able to distinguish between simple items such as the sun, moon, berries and fire. As the creature continues to learn and fend for himself, he came upon the hovel of the DeLacey family, where he remained for quite some time , observing the family. The monster becomes fascinated by the family, and begins to learn from their example. As he learns, he strived to be able to communicate with them and to share a relationship with someone, such as they had. The more the monster observed the family, the more he longed to be accepted and human. When Safie joins the DeLacey family, they begin teachingÃ her how to read and speak, and so also do the lessons of the monster begin. As he grew in knowledge, his eyes were opened to understand more and to believe that if the humans were rationalized with, they would come to love him once they realized the kind heart inside of him. Contrary to what he hoped, the monster was rejected by the DeLacey Family, and sought after the creator who brought him into his miserable existence. The monster had sought for the knowledge of love and acceptance, but never found it. He himself states that though he destroyed FrankensteinÃ¢â¬â¢s dreams, Ã¢â¬Å"I did not satisfy my own desires. They were for ever ardent and craving; still I desired love and fellowship, and I was still spurnedÃ¢â¬ (Shelley, 165). The monster had sought for the knowledge of love and acceptance by perceiving humans, but realized that he alone would always be separate from that gift. This knowledge and revelation led to his anger and hatred towards mankind and his creator, who also abhorred him. There was no one left to love him, and for that he swore anger and vengeance on his creator who had created him and left him in that state. As the monster grew in knowledge, he grew in bitterness and hatred knowing that all mankind had to offer was exclusively kept from him. His anger came from his rejection and dissatisfaction of knowing that he alone would never be able to experience love, kindness, and sympathy from another fellow human being for as long as he lived. Mary Shelley sent a very clear message through her novel, Frankenstein. She warned that those who seek knowledge and secrets might attain them, but lose everything they treasure and care for in the process. Just as in the case with Victor Frankenstein, sometimes unharnessed thirst for knowledge can lead to a devastating end that not only hurts the person seeking knowledge, but all those around them. Shelley sent a message that, like Walton, one must take the time to sit and consider the cost of their enterprise before it is too late. If they are blinded by their goal, they will not see the cost of their search until they cannot turn back. ShelleyÃ¢â¬â¢s message was not only for those in the 1800Ã¢â¬â¢s, but can be said for those in the twenty-first century. In a time when new discoveries are being made every day, is anyone taking into account the detrimental costs that it may have on those in society? Advancements are being made every day, but so many of them have been used to harm society, more than advance it. ShelleyÃ¢â¬â¢s warning is one that needs to be taken into consideration even today. If not, who knows how many monstersÃ and creations will be released into this world.
Wednesday, August 14, 2019
First question: The movie Ã¢â¬Å"HenryÃ¢â¬â¢s daughtersÃ¢â¬ reflects a big amount of ethical issues at individual and societal level. Sorted by importance and the impacting level, the following list shows the highlighted ethical issues based on my perception. 1. The selfish perception of benefits that Henry had. Such selfish that even his family would be affected. If his daughters cannot trust him, how his employees will? 2. The Invasion of privacy. There are issues existing with gathering private data about individuals using the technology. For instance: cameras in the offices. 3. The fact that some work done by Julie for OUTOCAR was used without giving her credit. 4. The negative daring from JulieÃ¢â¬â¢s co-worker. This intentional and disrespectful interaction with sexual intentions or the sexist jokes throughout the movie should not be tolerated. 5. The influence of political and social factors when taking a decision that should be based on technical and engineering aspects. 6. Commented issues between family and friends that might be confidential. For example: Laura and Julie are housemates, where they do not avoid talking about the project. The problem appears when both discussed proprietary information of the company. 7. The unhealthy competition of three family members at their professional areas. Bad business, at the end the movie shows that there is more to lose when we involved family in such unethical way. Second question: Engineers are responsible for creating the everyday tools that everyone uses. Because engineers create the tools that people use, of course there needs to be an ethical code which every engineer must respect and follow. The film (HenryÃ¢â¬â¢s Daughters) takes a peek into many of the ethical issues raised by engineers. However, all of them might be solved by the proper moral propositions. Some ideas are in establishing: the proper environment, ethics as a priority when adding new employees, and fair incentives. The culture ofÃ the company should adopt an open work environment, happy and fair to all employees. Therefore, the actions of the company must be oriented towards the welfare and morale. The culture should take into account the goals and objectives of the company, but the monetary targets should be the only ones highlighted. Nevertheless, the key is always keeping happiness and productivity together. New people, ideas, and strategies can lead to behavioral and performance c hanges in order to mold new ways of thinking and culture changes. To be more specific, the companyÃ¢â¬â¢s culture can improve by rotating managers with different views of competitive conditions or operations. It is a way to supply different, needed skills or capabilities from the outside. It is also important to add, for old and new employees, evocative companyÃ¢â¬â¢s purpose. This is to provide an address to stimulate employeesÃ¢â¬â¢ learning, and so, they have something they believe in beyond just a Ã¢â¬Å"job.Ã¢â¬ Also it is vital to provide encouragement and praise to those employees that show progress in any project. Incentives affect behavior and performance and attract new resources and capabilities, which can lead to culture change. On the other hand, the movie shows how disproportional incentives can blind people. HenryÃ¢â¬â¢s actions were illegal. Taking the prize for a competition that was not fairly won is highly unethical. Obviously, he got blind because of his selfish point of view of incentives. All these propositions should be analyzed and applied by both, employees and managers. They should actively interact to discuss suggestions and ideas to improve companyÃ¢â¬â¢s culture. Finally, once the ideas were picked, communication is the key. Company policy should be seen through all marketing material, including TV, magazine, newspapers, and websites. Career fair visibility is important as well to get news about the company out to the public and potential employees. Once those portals (to communicate ethical factors and others) are established, the focus can be the employeesÃ¢â¬â¢ productivity. Monthly newsletters from company executives highlighting company policy should be sent to employees, so they are aware of changes or improvements being made. All these ideas are based on my perception about the topic. It is a way to show how my perception disagrees with HenryÃ¢â¬â¢s. Instead of following a code of ethics, Henry has an Ã¢â¬Å"ends justify the meansÃ¢â¬ philosophy and does not consider ethical and moral implications in his work. He bribes DOT executives and tangles himself in conflicts of interest. In the end, HenryÃ pays the consequences for his actions when the senate ethics committee finds him guilty of unethical practices. His reputation is ruined and his relationship with his daughters is damaged. All of this could have been avoided. He sadly lost much more than he was able to win.
Tuesday, August 13, 2019
Boiled Frog Phenomenon in Business - Essay Example The veracity of this phenomenon is however, a suspect. Scripture (1897) informs that " a live frog can actually be boiled without a movement if the water is heated slowly enough; in one experiment the temperature was raised at a rate of 0.002C. per second, and the frog was found dead at the end of 2 hours without having moved." Many other scientists though debunk this concept (Gibbons, 2002). The "Boiled Frog" syndrome is often used in business, politics, environment, and other day-to-day activities. In strategic management, this refers to the inability of the companies to detect slow and gradual changes, which could be detrimental to its businesses. While most companies are adept at identifying sudden changes, gradual changes are difficult to detect. Polynice (2009) infers that "the frog metaphor for organizations is that we as a whole should try and identify the threats of our survival at an early stage when we still have time to plan rather than react to that particular threat; which will be too late. Furthermore, we must also learn how to reduce our threshold of change in order to be able to identify smaller changes that are occurring in our environment." This phenomenon can occur in all fields of business, viz., operations, external environment, business acquisition, logistics, etc.. InInstances analogous to "Boiled Frog" often occur in the business environment. In fact, the term was first used by Roger Ford (2002), columnist for Modern Railways magazine while describing privatization of British Rail. A business example of such a situation is the British Railways after privatization. The company Railtrack plc (Railtrack, 2009) took over the railway infrastructure from the government after privatization in April 1994. This new company owned the track, signalling, tunnels, bridges, level crossings and almost all the stations of in UK. It is believed that the company abused its near monopolistic position, and did not commit itself to necessary improvements in infrastructure and safety. Regulators were appointed, but Railtrack resisted regulatory pressures to improve its performance. The performance of the company deteriorated gradually, but there was no recognition of it within the company. Finally, a few crashes, particularly the Hatfield (Hatfield rail crash, 200 9) crash on October 17, 2000 exposed the deep-seated safety and maintenance problems of Railtrack. Though only four fatalities occurred in the crash, it exposed the lack of proper management practices and set into motion a chain of events, which finally led to the sell-off of Railtrack to government owned Network Rail in October 2002. While the root-cause-analysis revealed the root cause of the Hatfield accident to be "Rolling Contact Fatigue", there were several other contributory factors. This included divesting of much of the engineering knowledge of erstwhile British Rail into maintenance contractors. The record keeping of Railtrack was also not adequate. On investigation, several similar potential track problems were discovered. At the
Monday, August 12, 2019
Power Purchase Parity - Essay Example The conclusion is that this is highly assumptive and neglects other possibilities that control the relative price and exchange rates. Economists argue that the economic benefits of trade between nations in goods, services, and assets are similar to the benefits of trade within a nation. In both cases, trade in goods and services permits greater specialization and efficiency, whereas trade in assets allows financial investors to earn higher returns while providing funds for worthwhile capital projects. However, there is a primary difference between domestic versus international transactions; specifically, trade within a country normally involves a single currency, but trade between nations usually involves dealing in different currencies. There are also subtle and unavoidable concerns when establishing in purchase power parity that exchange rates are only controlled by relative pricing. This theory requires that stabilisation and equivocal trade are inherently continuous, and does not account for cost, policy and specialisation as substitution. Therefore, while purchase power parity holds in some cases, it can not be assumed (as it currently is) to hold in all cases. It will only hold under specific criterion, and not when there is fluctuations in real cost and trade. To understand the founding principles of purchase power parity, a first l... Exchange rates are the cost of one good compared to the price of another across national borders. The exchange rate simply converts the GDPs (Gross Domestic Products) into the same currency units. Even when valued in the same currency unit, the ratios of GDPs in different countries still have to be split into their volume and price components. This is often believed to be controlled by the theory of relative prices, that one product has an equal value to another product in different countries. The law of one price is the founding principle of this theory, explained by the purchase power parity concept. Purchasing power parities (PPP) are rates of currency conversion constructed to account for cross-country variation in prices. The calculation of PPPs is based on pricing a representative basket of goods and services across countries, and weighing this basket with the expenditure patterns prevailing in each of the countries. The PPP conversion rate allows for volume comparisons, i.e. comparisons involving the level of health expenditures in real terms. Exchange Rate The foreign exchange is the act of trading money between nation, where the money takes the same form of the originating country, and monetary assets traded in foreign exchange markets are demand deposits in banks. The exchange rate is specifically the price of one country's money in terms of another country's money, and this is very dependent on the time-value of money (Hallword and McDonald 2000). Foreign exchange quotations are shown as a bid/offer rate. The dollar lies at the heart of foreign exchange dealing, as most transactions involve moving in and out of the dollar. Sterling and currencies which were linked to sterling
Finance Accounting - Essay Example The accounts above are made in light of portraying a true picture to the shareholders as well as any investors interested in the company. The true and fair view concept has been at the heart of financial reporting in the UK for over forty years. In recent years there has been a major increase in the international importance of this concept. This has come about with its adoption by the European Community in the Fourth Directive on company law and its implementation in all Community countries. However, this concept has never been defined in UK legislation, and a variety of meanings can be attributed to it. In view of the recent international developments and given that the UK is the source of the concept, this study sought to elicit the views of senior UK practitioners on the true and fair concept. The FRC has laid three points: that the concept of the 'true and fair view' remained a cornerstone of financial reporting and auditing in the UK; that there had been 'no substantive change in the objectives of an audit and the nature of auditors' responsibilities'; and that the need for professional judgement 'remained central to the work of preparers of accounts and auditors in the UK'. To support the application of the "true and fair view", accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the 'historical cost convention'. This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. This is applicable when the calculations were made for the fixed assets of plant and machinery, fixtures and fittings and buildings. Under the...In view of the recent international developments and given that the UK is the source of the concept, this study sought to elicit the views of senior UK practitioners on the true and fair concept. The FRC has laid three points: that the concept of the 'true and fair view' remained a cornerstone of financial reporting and auditing in the UK; that there had been 'no substantive change in the objectives of an audit and the nature of auditors' responsibilities'; and that the need for professional judgement 'remained central to the work of preparers of accounts and auditors in the UK'. To support the application of the "true and fair view", accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the 'historical cost convention'. This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. This is applicable when the calculations were made for the fixed assets of plant and machinery, fixtures and fittings and buildings. Under the "historical cost convention", therefore, no account is taken of changing prices in the economy. The other convention used is the monetary measurement concept.
Sunday, August 11, 2019
In an increasingly dynamic environment, strategic management of risk has become a critical competency for organisations. From th - Dissertation Example It has also grown from a hot topic, one that was dealt with only by the most prestigious companies to one that has become a necessity to every company irrespective of its size and nature of business. Companies today face a considerable number of risks also because of international factors such as globalization, outsourcing and intense competition. Therefore, it is important for all companies to satisfy their risk needs through a formal risk management system. However, careful analysis and planning must precede the entire operation. This not only helps in smoother implementation, companies can develop plans to tackle some of the inherent limitations and disadvantages of the system before hand. It will also help the company determine the best course of action with regard to the risk management strategy eventually adopted. Once selected, the actual system is guided by a number of standard processes and phases each with its own set of requirements and objectives. The entire process is of a cyclic nature that starts with the identification an analysis phase and ends with the monitoring phase for a company new to the process, whereas in existing systems all the phases are carried out continuously. This is the only way to ensure effectiveness of the system. However, it need not be an overhead and the entire process can be integrated into the schedules of the employees of the company. Senior management involvement also goes a long way in ensuring the effectiveness of the system. Once implemented as per guidelines and having taken appropriate precautions, it is possible not only to achieve a safer degree of operation within the company; other benefits can also be reaped. For instance, risk management systems can offer one of ways of developing a long term competitive advantage which is critical in today's competitive environment. Risk management systems are still evolving and are in a dynamic state. Future work that establishes better guidelines for the implementation w ill assist several companies in understanding and implementing their own systems that is based on a unique structure and satisfied demands. 1. Research Question Ã¢â¬Å"In an increasingly dynamic environment, strategic management of risk has become a critical competency for organisations. From the perspective of an Operations Manager, present a case to the board of directors for adoption of a formal risk management process.Ã¢â¬ 1.1. Aim The aim of this report is to provide and propose to the senior management a detailed case for adopting a formal risk management process. 1.2. Objectives To achieve the aim of the report following objectives will have to be met: A. Demonstrate the importance of Risk Management Process in an organisation B. To present the advantages and disadvantages of adopting a formal risk management process C. To Analyse and Discuss why the organisation should adopt a formal risk management process D. To Conclude the findings of the report and present recommendat ions to the board 2. Literature Review