Saturday, August 31, 2019

Concept of Elasticity Essay

Why Economists Use Elasticity Definitions of Elasticity How to Compute the Elasticity of Demand and Supply Examples of Elasticity of Demand and Supply What is an Elasticity? Measurement of the percentage change in one variable that results from a 1% change in another variable. When the price rises by 1%, quantity demanded might fall by 5%. The price elasticity of demand is -5 in this example. Different Types of Elasticities Price elasticity of demand: how sensitive is the quantity demanded to a change in the price of the good. Price elasticity of supply: how sensitive is the quantity supplied to a change in the price of the good. Examples of Demand Elasticities When the price of gasoline rises by 1% the quantity demanded falls by 0. 2%, so gasoline demand is not very price sensitive. Price elasticity of demand is -0. 2 . When the price of gold jewelry rises by 1% the quantity demanded falls by 2. 6%, so jewelry demand is very price sensitive. Price elasticity of demand is -2. . Examples of Supply Elasticities When the price of DaVinci paintings increases by 1% the quantity supplied doesn’t change at all, so the quantity supplied of DaVinci paintings is completely insensitive to the price. Price elasticity of supply is 0. When the price of beef increases by 1% the quantity supplied increases by 5%, so beef supply is very price sensitive. Price elasticity of supply is 5. Why Economists Use Elasticity Economists want to compare apples and oranges all the time. Is oil market demand more price sensitive than wheat demand? no) Is the labor supply of women more wage sensitive than the labor supply of men? (yes) An elasticity is a unit-free measure. By comparing markets using elasticities it does not matter how we measure the price or the quantity in the two markets. Elasticities allow economists to quantify the differences among markets without standardizing the units of measurement. Examples of Unit-free Comparisons Gasoline and jewelry It doesn’t matter that gas is sold by the gallon for about $1. 09 and gold is sold by the ounce for about $290. We compare the demand elasticities of -0. (gas) and -2. 6 (gold jewelry). Gold jewelry demand is more price sensitive. Paintings and meat It doesn’t matter that classical paintings are sold by the canvas for millions of dollars each while beef is sold by the pound for about $1. 50. We compare the supply elasticities of 0 (classical paintings) and 5 (beef). Beef supply is more price sensitive. Inelastic Economic Relations When an elasticity is small (between 0 and 1 in absolute value), we call the relation that it describes inelastic. Inelastic demand means that the quantity demanded is not very sensitive to the price. Inelastic supply means that the quantity supplied is not very sensitive to the price. Elastic Economic Relations When an elasticity is large (greater than 1 in absolute value), we call the relation that it describes elastic. Elastic demand means that the quantity demanded is sensitive to the price. Elastic supply means that the quantity supplied is sensitive to the price. Size of Price Elasticities Inelastic: price elasticity less than 1 Unit elastic: price elasticity equal to 1 Elastic: price elasticity greater than 1.

Analysis of “Al Gore on Climate Crisis and Global Power”

Former Vice President Al Gore was the featured â€Å"My Turn† opinion writer for the December 18, 2006 issue of Newsweek Magazine. This opinion article was a part of Gore’s environmental awareness campaign which began with the publication of his book An Inconvenient Truth.  Gore presents a very well written argument advocating the necessity for massive change in the use of energy. According to Gore, â€Å"we are now faced with an urgent crisis—a crisis that is altering the very nature of the earth’s climate.†Gore makes his compelling argument without preaching, scolding, or frightening. This is extremely rare, and valuable, given the highly volatile nature of any debate involving energy sources and environmental concern. The article is interesting for what is said as well as for what is omitted.The piece is devoid of the usual â€Å"doomsday† statistics and anecdotes projecting a critical problem without a solution. Instead, Gore portrays t he world at a crossroads, the beginning of â€Å"a new age† where â€Å"crisis† should be defined as the Chinese write it: â€Å"danger† and â€Å"opportunity†. He does not need to elaborate on the well-known and documented dangers facing the world regarding climate change. Instead, he illustrates several of the opportunities he visualizes in the future.His first example is the development of an â€Å"electranet† distribution network for electrical power. Instead of massive coal, oil, or nuclear fuel power plants, smaller suppliers, including wind and solar power generators, will be widespread.Additionally, anyone on the â€Å"electranet† who can generate electricity, from small home solar units to larger industrial generators, will be able to sell their surplus power to the grid. Other changes envisioned include â€Å"smart† buildings â€Å"constructed with breakthrough solar and nanotechnologies† and super-high mileage vehicl es.Gore is optimistic because â€Å"market forces that are now in motion— driven by visionaries at companies as diverse as Wal-Mart, British Petroleum and General Electric†   are having an effect. But, more must be done: governments must â€Å"exert real leadership† in agreement to the Kyoto treaty and then beyond in order to meet the crisis. With optimism Gore closes by stating it is â€Å"a rare opportunity for our generation to unite behind a historic mission.†I share Gore’s attitude and opinions regarding energy and the environment; however, I believe I am not alone in feeling very apprehensive. A day does not pass without more evidence documenting incredible damage and change in the global environment.It is easy to fear that the world of our children and grandchildren will be terribly damaged. It is difficult to focus on what one individual can do when there is a fear of it being â€Å"too little too late.† As Gore believes market for ces will cause the beneficial change, I believe we must examine how â€Å"we the people† can be a significant part of that force.To paraphrase Gore, the immediate future will be incredibly challenging. I believe he frames the issue perfectly as â€Å"a historic mission† in which we must all play a significant role. In unity there will be success; the environment does not have the luxury of time for divisiveness or finger-pointing.Although it is very likely we will be able to see the reward of collective action, if not, it is certain future generations will see the result of our action or inaction.

Friday, August 30, 2019

Small Business Management and Entrepreneurship Slide

What type of person becomes this type of risk taker? I have always been more on the cautious side, preferring to stand back, observe, listen and analyze a situation. I’ve always admired people who are not like me, people who are more daring, or willing to throw caution to the wind. An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it. What challenges did he or she face and overcome? In 1982, Mark Cuban moved to  Dallas, Texas Cuban first found work as a bartender,  then as a salesperson for Your Business Software, one of the first PC software retailers in Dallas.He was terminated less than a year later, after meeting with a client to procure new business instead of opening the store What failures did this person have? Got a job working for a carpenter laying carpet and quickly learned he was absolutely horrible at it How many companies have he or she started? Started AudioNet in 1995, The Company, despite its ear ly critics, proved to be a smash success. Renamed Broadcast. com, the firm went public in 1998 and soon saw its stock reach $200 a share.A year later, Wagner and Cuban sold out to Yahoo! for nearly $6 billion Purchasing an NBA Team In 2000, Mark Cuban introduced himself to the NBA community when he purchased the Dallas Mavericks for $285 million from  Ross Perot Jr. How successful is he or she? At the age of 32, Cuban was a millionaire who could afford to live in the big houses that he used to drive by as a down-on-his-luck bartender. More importantly, he was living the life of his dreams. Why is this person successful?Business Management Study GuideCuban has built his fortune by building successful companies and then selling them when the time is right. Why did he or she become an entrepreneur? Daydreamed motivation, he didn't lie to himself and talk about his passions and how if I was passionate enough about something he could be successful at it. He was lucky. He grew up knowin g that hard work and smart work has a greater impact on results than being passionate about something. What is this person's measure of success? In sports, the only thing a player can truly control is effort.The same applies to business. What did you learn about entrepreneurship from this interview? With Mark Cuban is a person who never stops working he is a person with optimism a fighter the hard things makes it is easy. All we want to be like him with open ideology. What ever he touched turns gold Reference, http://www. glessnersgig. com/2012/10/mark-cuban-massive-success-and-how-you-can-have-it-too. html http://www. incomediary. com/10-winning-lessons-from-maverick-entrepreneur-mark-cuban http://www. biography. com/people/mark-cuban-562656

Thursday, August 29, 2019

Ten principles outlined Assignment Example | Topics and Well Written Essays - 750 words

Ten principles outlined - Assignment Example The author defines how meditation encourages a healthy lifestyle and increases awareness among individuals. Indeed, through meditation, individuals can recognize and manage their anger with a clear mind, which calms them down (Crane, 2014). Moreover, the article asserts that meditation increases happiness where various studies have established that meditation increases brain signaling in the left side of the prefrontal cortex that derives positive emotions that increases happiness (Crane, 2014). The author quotes other scholars who confirm that meditation increases acceptance and improves overall well-being. Uniquely, studies establish that meditation also slows aging by changing brain physiology. Moreover, the huge gray matter possessed by meditators slows aging. Ultimately, the article confirms that meditation benefits cardiovascular and immune health by inducing relaxation that increases the nitric oxide chemical, which compels blood vessels to open thus reducing blood pressure (Crane, 2014). Apparently, the article is relevant and reliable to discuss the benefits of meditation. I have therefore found the article to be beneficial since it discusses various benefits of meditation. The article quotes relevant studies and scholars that explain the merits of meditation. Indeed, the article supports all its claims relating to the benefits of meditation. Notably, the article is beneficial since it depicts how meditation can improve our health, well-being, and social lives. The happiness, self-awareness, acceptance, good health, and increased concentration that the article presents are fundamental in human life (Crane, 2014). Moreover, the article is current, relevant, and credible to discuss the research topic, benefits of meditation. The article is equally easy to read and access since it is on an international news media. The paper lists, explains, and summarizes the importance of the ten

Wednesday, August 28, 2019

Company case study and Industry analyisis Research Paper

Company case study and Industry analyisis - Research Paper Example This paper has discussed the history and outlook of the company along with a deep analysis of the over Fast Food Industry of US. Kentucky Fried Chicken (KFC) is a sister concern of Yum Brands who also have other fast food chains including Pizza Hut, Taco Bell and Long John Silver’s. KFC was established by Colonel Sanders who initially presented the idea of fried chicken which ultimately turned up to be the most exciting fast food. KFC is the world’s leading fast food restaurant with billions of customers from around 80 countries (Zwolak, 2010). The success did not come to the company in an easy way. KFC has a long story of struggle which is briefly described below. Colonel Harland Sanders learnt cooking at an early age since his mother used to work outside and he was responsible to administer all the household tasks. Very soon he mastered some of the local dishes but due to financial constraints he could not think of pursuing a career in cooking. He kept on working as a streetcar conductor and insurance salesman while the supreme art of cooking resided inside him. In 1930 he began to serve the hungry travelers and developed the novel idea of replacing the home meal with something equally delicious. He was then in commission of a service station at Corbin, Kentucky, there he initiated the ‘Sunday dinner, seven day a week’. Later he got so much fame due to his distinctive chicken recipes that he was made the Colonel of Kentucky in response of his extraordinary services to the food industry. By 1955 he was very much confident about his chicken recipes which compelled him to establish KFC; within the time span of 10 years KFC had more than 600 branches in United States and Canada. Due to effective managing and marketing strategies KFC increased its profits within no time. Consequently in 1986 it was acquired by Pepsi Company which ultimately turned its restaurants including KFC and others in a separate company namely Tricon Global Restaurants, Inc

Tuesday, August 27, 2019

HUMAN RIGHTS Essay Example | Topics and Well Written Essays - 1750 words - 1

HUMAN RIGHTS - Essay Example A charter was thus crafted that detailed the creation of the International Military Tribunal and the procedure to be followed during the trials. 2 Finally, the trials and the subsequent judgment handed down at the trials for such novel crimes as ‘crimes against humanity,’ ‘crimes against peace,’ (jus ad bellum) and ‘war crimes’ (jus in bello) committed during a state of war 3has established a precedent that became the models in recent cases like Rwanda and Yugoslavia. These judgments assailed, inter alia, on the grounds that they were based on a crime that was in the nature of ex-post facto law, were nevertheless just and fair considering the grievous crimes that were committed. The indictment of about 24 major defendants specified three kinds of crimes: crimes against peace, which included crimes of waging aggressive war, as opposed to self-defence, against other countries; war crimes, or crimes which violated the conduct of war in accordance with Article 46 of the Geneva Convention like â€Å"murder, ill-treatment, and deportation of populations in the conquered territories, the killing of hostages and prisoners of war, the seizing of private property, and the wanton destruction of villages, towns and cities,† and; crimes against humanity, or crimes committed before and during war like â€Å"murder, extermination, enslavement, deportation and other inhumane acts committed against civilian population.† Another crime, that of conspiracy, - the planned commission of the crimes by two or more persons - connected some of the crimes. After eight months of preparation, considered short for a major trial, the trial began on November 20, 1945. 4 To serve as evidence for the prosecution, the indictments came supported by testimonies, photographs and films – with the last two primarily coming from the Germans who obviously documented every atrocious deed they made with pride. The

Monday, August 26, 2019

Physics of cheerleading Term Paper Example | Topics and Well Written Essays - 1250 words

Physics of cheerleading - Term Paper Example According to Newton’s law of reaction, when two objects act together the force on one object becomes the same as the magnitude but in opposite direction to the other. Studies reveal that, when two objects act together, there are several forces. This is because, one object tends to exert force on the other one which acts upon it hence the reaction forces defined in the third law of motion. The action forces always accelerate towards the earth while the reaction moves away from the earth. This can be presented in an equation with variables in the normal force which acts on both forces as: The speed of rotation into the air can increase or decrease when the distance of mass and axis is changed. When performing a stunt, the cheerleader may not gain momentum if on the ground since velocity and position are zero. Incase one jumps to decrease the distance between the body and axis of rotation, then the angular momentum remains constant since there is no outer torque which has taken place in the radius of X. Today, most of the cheerleaders are expected to poses athletic shape with gymnastic foundation. So as to gain the force required to spin into the air without anybody increasing or decreasing the momentum while in the air. According to Hewitt, Paul and Wolf (2008, p 136), the main principle behind physics of cheerleading is to set up a good weight allotment in the stunts, for example in pyramids. This is created by putting a great number of people at the bottom than at the top. The strong members of the group form the base while the lighter members are put on the top. This makes it possible for the team to perform stunt that involve holding and tossing the cheerleader up in the air. Stunt depends on having the right number of people forming the top and bottom in the pyramid. In stunt, balancing is important so as to help in supporting the weight exerted at top of the

Sunday, August 25, 2019

A comparative study between the regulations of the U.S. and the United Essay

A comparative study between the regulations of the U.S. and the United Kingdom on Hip Hop music - Essay Example The notion of censorship has always been warily approached with differing emotions. Whereas many regard censorship as a form of curtailment against individual liberty and freedom of speech, there are also some who would argue for censorship as a necessary mechanism for the protection of civil society and public order. In our present day, for example, several organizations both in government and outside government, espouse the need to filter media content. Within governments, we have UK’s Office of Communications and the United States has its own Federal Communications Commission. Outside governments, organizations such as the Parents’ Music Research Center actively campaign for censorship as a necessary defense against the corruption of young minds. From the early days of the Inquisition wherein large volumes of books and other literature labeled as sacrilegious or scandalous were ripped into shreds before being thrown into large flaming pyres, till today’s curre nt practice of censorship cuts on mass-produced films and broadcast programs, artistic work has consistently come under the magnifying glass and scrutiny of regulating bodies bent on filtering the content of mass media which reach the common population.

Saturday, August 24, 2019

California Indians Surviving the Gold Rush Essay

California Indians Surviving the Gold Rush - Essay Example The easiest way to survive was, perhaps, the most humiliating. Some Indians allowed their oppressors to "civilize" them. By adopting white styles of dress, living in modern, rather than traditional homes, and most importantly, but kowtowing to the white man and embracing his religion, some native people were able to keep their own lives. In Deeper than Gold: Indian Life in the Sierra Foothills, Brian Bibby writes of a man called Billy Preacher, who, based on the stories and artifacts he left behind, had a strong belief in and connection to his own religion and culture. However, Billy Preacher, "accommodating to change" (Bibby 30), goes to work on a white man's ranch and eventually takes on his employer's culture. Bibby states that this ranch, "provided a safe haven and labor opportunities for individuals and families who had been disinherited from their former homes by the influx of miners and settlers to the region" (Bibby 30). Billy Preacher, at the end of his life, has converted t o Christianity and in appearance appears almost completely European. Servitude was more or less expected by the white man, who saw the Native as, at best, a useful servant, and, at worst, a pest to be exterminated. For this reason, many Indians found it simpler to cater to the invaders, whoever they were.

Friday, August 23, 2019

Witchcraft Evaluation through Comparison-Contrast Essay

Witchcraft Evaluation through Comparison-Contrast - Essay Example This paper will shed light upon witchcraft and paganism since 1815; modern day witchcraft will be discussed extensively in the following parts of this paper. â€Å"Before really getting into what Witchcraft is, perhaps we should take a look back at what it was—the history of it. Witches should be aware of their roots; aware of how and why the persecutions came about, for instance, and where and when the re-emergence took place. There is a great deal to be learned from the past. It's true that much of history can seem dry and boring to many of us, but that is far from so with the history of Witchcraft. It is very much alive and filled with excitement.† (Buckland, Raymond. P.1) ... Ancient religion, science fiction and myth all play an important part in witchcraft and paganism; people who practice it often take cues from religion, fiction and myth. Another important aspect of witchcraft and paganism is that people who follow it do not worship evil forces; they consider mother earth very important and usually worship mother earth rather than focusing their energy on evil forces. Satanism is another important topic which comes to mind when paganism and witchcraft is being talked of. There is a lot of difference between Satanism and witchcraft, people who indulge in Satanism pray to the Saturn or the evil forces but the followers of witchcraft do not pray to the Saturn or the evil forces. â€Å"Here in Canada kitchen prophecy is a way of life.† (The "Kitchen Goddess†) This goes to show that prophecy is often practiced by witches. They engage in speculation, they enjoy telling people about what they should expect in the future. Wicca has to be discusse d when witchcraft is being shed light upon, Wicca is a religion. The word Witch generally refers to a person from pagan religion. The roots of Wicca are firmly engraved in our history; people have been practicing it since pre-historic times. It would be inappropriate to consider Wicca as a unified whole. Beliefs and rituals practiced by the Witches vary significantly and this is why it would be inappropriate to consider Wicca as a unified whole. â€Å"There have been many books written on the history of Witchcraft. The vast majority have suffered from bias—as will be explained shortly— but a few of the more recently published ones have told the story accurately... or as accurately as we can determine.†

Abacus Business Solution Case Study Example | Topics and Well Written Essays - 1750 words

Abacus Business Solution - Case Study Example Industry Definition Point of Sale is the checkout place where a transaction is completed. In other words, it is the point where customers make payments for the goods or services they have purchased. POS systems are usually used by retail industry and restaurant industry. However, in this context, the study will focus only on the restaurant industry. According to David Gilbert, COO of the National Restaurant Association, POS systems are one of the most essential tools for a restaurant as it helps to make their business operation secure, fast and reliable. POS systems are simply the synthesis of hardware and software and business model of the companies belonging to POS industry is also simple. In general, the supply chain model of the POS industry includes POS manufacturers and developers, POS distributors, POS VARs and business owners. Figure 1 –POS Supply Chain Model Some of the major players of POS industry are Micros Systems, Inc., Restaurant Data Concepts and NCR among others. The industry is characterised by variety in product features, services and prices. According to the reports published by IBIS World, the industry reached a value of $1.2 billion in the year 2012. The industry growth rate is 1.8 % annually, but it is expected that, the growth rate will be 2% for the next five years. The major customers of this industry include hospitality sector, retail sectors, and foodservices sector. The share of revenues of POS industry is presented below. Figure 2 – Share of Revenue in POS Industry

Thursday, August 22, 2019

Mars chocolate supply chain process Essay Example for Free

Mars chocolate supply chain process Essay The chocolate supply chain involves everyone who plays a part in producing chocolate,from local governments to international certification organizations and multi-national manufacturers. To achieve sucess, all of these players must collaborate effectively and prioritize farmer benefit at origin over competitive advantage. By putting farmers first and training them , Mars is aiming to strengthen its supply chain as a whole and to move towards a more sustainable cocoa economy. Most of the cocoa imported by MARS is grown by individual cocoa farmers and their families on plots smaller than five acres (two hectares) in rural parts of West Africa, Asia and the America. Local buyers in these countries collect cocoa beans from many farmers, either after harvest or after they have been dried or fermented. Exporters then buy cocoa beans from a network of the local buyers and prepare them for international shipping and processing to Mars factories . The exporter can be a local marketing company, a global commodity trader, an international agricultural business, a cocoa processor or a government In Africa, Mars has signed a Memorandum of Understanding with the Ivorian government for long-term collaboration and investment in cocoa. It is also working closely with the Ghana Cocoa Board (COCOBOD), the Brazilian National Research Center (CEPLAC) and the Indonesian Ministry of Agriculture to obtain better quality for chocolate manufacturing. Mars is the first global chocolate company to commit to sourcing all of their cocoa from certified sources by 2020. In 2011, they purchased 10% of their cocoa from certified sources, and in 2012 exceeded it to 20 percent and become the world’s largest user of certified cocoa. They currently buy cocoa certified by the Rainforest Alliance, UTZ Certified and Fairtrade. While consumer choices determine demand throughout the cocoa market, it is the manufacturer that meets this demand directly and so sets standards that affect the whole supply chain. Having such an influential role means manufacturers have a duty to ensure that the supply chain supporting their products operates in a responsible and sustainable way. Although Mars cannot have direct relationships with every individual farmer, by choosing to use certified cocoa in their products, the company aims to enable industry-wide improvements in productivity, incomes and sustainability. When the cocoa beans arrive at the factory they are processed into the cocoa products that can be used in manufacturing chocolate. These include cocoa liquor, cocoa butter and cocoa powder. Most processing occurs away from the countries where cocoa is grown because it is more efficient to process and manufacture the products close to where they will be consumed.. What happens during processing has a direct effect on the flavor and qualities of the resulting chocolate. The taste and texture of a particular chocolate product depends on the each recipie , which remains a guarded secret of the company. Mars uses different types and proportions of cocoa liquor, cocoa butter and other ingredients such as milk and sugar to make their products consistent with the brand. They use a mix of beet and cane sugar in our chocolate and confectionery products and source most of it within the region in which it will be used. For several years, they have worked closely with direct suppliers to ensure our sugar is responsibly sourced, while maintaining the highest levels of quality . They need a consistent and high-quality supply of peanuts for some of our most popular products, including SNICKERSÂ ® and MM’SÂ ®. Jointly funding the U. S. Peanut Resources and Efficiency Measures Report conducted by the independent research firm IHS Global Insight, which found major potential improvements in farming practices among U. S. peanut farmers as they are its major suppliers . Dairy ingredients are a critical component of many of our milk chocolate and caramel brands . These are obtained by collaborating with other consumer brand companies and suppliers throughout the local markets that comply with the companys supplier code of conduct . The finished chocolate product is then packaged. The packaging is made in the factory usuing materials such as metal , paper and plastics which is purchased locally. Their strategy is to reduce, recycle and rethink our packaging. This is not easy, as alternative materials that appear more sustainable in one respect often have a greater impact elsewhere. They use lifecycle assessment to ensure that they do not make progress in one area, only to undermine it somewhere else . For packaging they also work with suppliers, universities, other industries and expert partners to share learning and innovation. In Australia, Wrigley committed to the National Packaging Covenant in 2005, and has signed the updated Australian Packaging Covenant . The finished product is via the company owned transport local distributors. The distributors can be individuals , a private enterprise or the government which transport the chocolate to local stores and marts and also to exporters of the finished products . As one of the leading food manufacturers in the world, Mars has a significant international presence in more than 73 countries.

Wednesday, August 21, 2019

Scandinavian Civil Law

Scandinavian Civil Law Introduction to Scandinavian Civil Law Scandinavian civil law applies to the five Scandinavian countries, namely Denmark, Sweden, Iceland, Finland and Norway. Historically, it has it roots set in Germanic law, but Scandinavian civil law is now more closely akin to the civil law of the common law countries such as the UK and Australia. History of Scandinavian Civil Law Scandinavian civil law has not always been recognised as a unified system of law for the five Scandinavian countries. Until the early 9th century, Scandinavian civil law did not exist as a concept at all; instead, the five nations all had their own independent legal and administrative systems. Despite the five countries having their own systems, legally, they were all based on similar theories and it was not long until they started to merge into one body of Scandinavian civil law. Initially, Scandinavian civil law was entirely unwritten; it was based on customs and social development that gradually became a codified system. The customary type of Scandinavian civil law was managed by group meetings which could be attended by all men. This system of Scandinavian civil law worked well until the 11th century when the rules became too difficult to manage and some basic laws were codified into a written text. Generally, Scandinavian civil law was put together by private individuals, although increasingly the king became involved. By the 13th century, the body of Scandinavian law was largely complete in its current form. Scandinavian civil law became much more unified across the five countries, over the centuries. However, there were still differences regarding where the laws originated from. For example, the Gulathing Law originated from Norway, in the 11th century, whereas the Law of Uppland came from Sweden, in the 13th century. These early laws formed the basis of future Scandinavian civil law; however, they were not in the same format as modern Scandinavian civil law. The first codification of Scandinavian civil law started with the areas of matrimony, property, inheritance and contract, although gradually this extended to cover the areas of administrative and criminal law. Religious law was dealt with entirely separately, with its own court and justice decisions. Despite the early shift towards codifying Scandinavian civil law, the first common law system that was centrally arranged was actually criminal law, particularly in the area of manslaughter and blood feuds. Religious law also started to become intertwined into the Scandinavian civil law, primarily in order to ensure that assisting the poor was something written down in law. Power also shifted towards the king, with King Magnus’s Swedish code of 1350 being the first of its kind, placing power on the King’s officials to manage the commencement of criminal proceedings. Although this only dealt with the criminal law element of the legal system, it was, nevertheless, the beginning of the Scandinavian civil system as we know it today. By 1380, Denmark and Norway had come under the rule of one king, although the legal systems remained independent. This unification was the first step towards the Scandinavian civil law becoming one system. Over the next three hundred years, the Scandinavian civil law system gradually gained codification and unification across the two countries, influences of which filtered into the neighbouring countries. The codes that were developed by the two Scandinavian countries were extremely well written and the envy of many of other countries. The wording in this code of Scandinavian civil law was both simple and easy to understand. Sweden was one of the first countries to accept the new code, actively, and it became clear that this was set to be the widely accepted Scandinavian civil law code. Scandinavian Civil Law Today Whilst the historic codes were both popular and widely accepted, the complexity of modern life has meant that Scandinavian civil law has more recently become regulated by more and more statutes. During this modern development, the five Scandinavian countries have all largely followed the same basic theories, yet have generated their own legal standards. Essentially, all Scandinavian civil law is based on the Swedish laws of the early 18th century. Although there is a degree of separation in terms of legal structures in the Scandinavian countries, there is still the agreement between the states to cooperate on matters of legislation. This agreement was entered into in 1872 and has become more and more important and the foundation of Scandinavian civil law as we know it today. Typically, areas such as commerce and contracts have always ensured that there is conformity amongst the Scandinavian states. One of the main benefits of having a largely uniform Scandinavian civil law is that trade and movement of both people and commerce is much more fluently achieved across the Scandinavian countries. Scandinavian civil law is a unique blend of many different legal systems, although most notably German and French laws. This influence is primarily down to the way in which the law is taught in Scandinavia, with many Scandinavian based lawyers studying in France and Germany before returning to practise in Scandinavia. Despite the unique format of the Scandinavian civil law, it does largely follow in line with other European countries when it comes to matters of international trade and shipping. Although it has been necessary for Scandinavian civil law to become suitably in line with other European states, the Scandinavian states have opted to stay as straightforward and close to real life practicalities, as possible. This is particularly evident when it comes to welfare law. In a similar way to the English law courts, the judges are largely responsible for making the law, although in a different way to the English courts. For example, there is no principle of binding precedent, which makes Scandinavian civil law particularly flexible and able to deal with changes is social needs as and when they arise. Scandinavian civil law is very flexible, yet sufficiently structured to allow the Scandinavian states to compete on an entirely level footing with other European states for the purposes of commercial contracts. Many legal theorists believe that Scandinavian civil law is, in fact, a model code which should be considered by many other modern countries across the world.

Tuesday, August 20, 2019

How Self-Motivation can Create a Positive Impact on Your Life?

How Self-Motivation can Create a Positive Impact on Your Life? Introduction Self-motivation is a process wherein a person develop ways on how to keep his or her self motivated at all times despite challenging times and without direct help from other people. Experts say that self-motivation is a very important factor in a persons life because this will help him or her see things in a positive way. This will also enable him or her to overcome challenges by developing an attitude that could withstand trials and failures.If one is able to develop a good outlook in life, everything will start falling into their proper places. In fact, he or she might even be surprised of the things that were able to accomplished in that span of time. THE ABCs OF SELF MOTIVATION If you are one of those who have just realized the importance of self-motivation and would want to start it but you just dont know how, here are some of the things that can help you: Re-assess yourself. Many people think that they know themselves already that is why they decline to do self-assessment regularly. Experts say that these people dont realize that the more that they decline doing self-reassessment, the more that they get stuck to their own routine which leaves them lesser room for improvement. If you want to start with constant self-motivation, it is best that you know yourself very well. If you know yourself well, you will know your weaknesses as well as your strengths. Once you were able to identify all of these, it will be easier for you to set goals for yourself that are within your reach and your capabilities. Knowing ones self will also enable you to take note of your weaknesses and find ways on how to overcome, manage, and deal with them. The same works for your strengths because you might even find a way on how to improve them. Start with small and simple goals. Dont put too much pressure on yourself. If you are just starting with self-motivation, it will be best if you start small and simple so you wont feel defeat when you werent able to meet the standards you have set for yourself. If you start with small and simple things, you are giving yourself the chance to accomplish bigger things ahead. Keep track of your progress. Monitoring how well or bad you are doing will help you maneuver things that find ways that would best work for you. For a person who is just starting with his or her self-motivation process, it is best to keep track of how you are doing so you will know where are the areas that you should improve on and what are the things that you should continue doing. Find time to share and help others. Self-motivation is a process that indirectly involves other people for it to be successful. If you think you are doing well at your own pace, it would help if you find time to share the experience as well as the ideas to others so you will influence them. If the people-especially those that matter to you-see that you are doing good and self-motivation is creating a big impact in your life, they would even might want to try the same thing that you are doing.

Monday, August 19, 2019

ray charles Essay -- essays research papers

Ray Charles   Ã‚  Ã‚  Ã‚  Ã‚  In the 1930s many black musicians where coming out of the south. One especially who would soon top the charts and hit fame and fortune starting in his young years, Ray Charles. After conquering poverty, blindness and many other things, success was possible. In his young age he had a few losses in his family and near after came down with a disease which was causing him to go blind. He later came over the blindness and was able to learn and compose music with the help of his skills in mathematics. After enduring a harsh childhood and blindness, Ray Charles was able to over come his handicap and follow his dream in music.   Ã‚  Ã‚  Ã‚  Ã‚  Ray Charles was born on September 23, 1903 to a very poor family. Although no birth record exists, his mother, Retha Robinson, dubbed him Ray Robinson, which he later changed so as to not be confused with Sugar Ray Robinson, a famous boxer (World Book 383). Ray Charles, or as everyone called him RC, was born to a mother only sixteen years old and she had another coming. By RC’s first birthday, his little brother George was born. â€Å"None was sure who George’s father was, but all remembered that Mr. Pit and Mis Georgia, who had no children of their own, adopted George to take the added burden off Retha†(Michael 7). While Retha was not able to watch over RC, he was cared for bye her friend Mary Jane, who was split up with her husband and had lost her son.   Ã‚  Ã‚  Ã‚  Ã‚  At the...

Sunday, August 18, 2019

The Study of the Affects of Long Term Agruculture on the Soils of Europ

The Study of the Effects of Long Term Agruculture on the Soils of Europe 1. Introduction Soil, like iron, is a natural resource. Just as iron is mined from the earth, soil is mined for its nutrients by farmers across the globe. What most people don't realize is that like iron, soil is a non-renewable resource. Soils form naturally at rates of 0.5-0.02 mm/yr, whereas the average human-induced erosion rate is 2.0 mm/yr in the U.S.(Yassoglou, 1987). These numbers reflect the dire predicament of soils around the world, and demand answers to questions such as: What causes the degradation of soils? What role have humans played in the deterioration of soils? How much more abuse can the soil withstand? Due to the lengthy history of agriculture in Europe and the Mediterranean, these areas might provide insight into the answers of these questions. 2. Is there a problem of soil degradation in Europe? 2.1 Factors that degrade soils Soil degradation as it pertains to agriculture, refers to a deterioration in at least one of the five soil qualities: volume, structure, organic matter and/or biological activity, chemical composition, and fertility. Of the many processes that lead to the deterioration of these qualities, erosion is the most prevalent and pernicious. Erosion contributes directly to the degradation of all five qualities, and is indirectly involved in other processes of soil deterioration (Yassoglou, 1987) . Due to its importance as a factor of degradation, and the limited scope of this paper, erosion will be the focus of this inquiry. 2.2 Variables that affect soil sensitivity to erosion Soil sensitivity is dependent upon the initial state of the soil following pedogenesis, influxes of material, and the... ...(Morgan,1987). Further study could be pursued in the effect of degrading influxes on single soil properties. A complete study of soil degradation within the European Community as a whole should be done, as well as adopting a set of universal standards for measuring soil loss (Yassoglou, 1987). An interesting question to pose at this point is " If soil degradation is such a problem, why hasn't productivity been adversely affected?" The irony is that the same technological advances that increase soil degradation , increase actual productivity of the farm. Fertilizers, pesticides, and machinery all increase yields per a given area, and it is these factors that have prevented an agricultural crisis in Europe. In essence, we are running our own experiment on the soil, to see if our technology can outrace its destruction of the very foundation upon which it is built.

Saturday, August 17, 2019

Globalization in Sub-Saharan Africa Essay

ABSTRACT It is factual that globalization began before the industrial revolution was existent in the colonial period and continues to be a major influence on how governments worldwide operate. When analyzing the effects of globalization, a common controversial debate is whether globalization has maimed the society or has brought significant benefit. The African society is used severally by anti-globalists to defend their views. This paper explores the negative dynamics of globalization in Sub-saharan Africa e.g. undermining of state sovereignty and hastening of environmental degradation of the continent. However, it does not suggest that globalization is entirely bad nor does it say that globalization is the only cause of Africa’s problems. It proposes some measures that can be considered when globalizing the African market so that this negative effects can be minimized. INTRODUCTION The nations of the world have synchronized their trading goods and services, financial markets, Ideologies, innovations and cultures through globalization. The free flow market policy adopted by many countries has led to significantly positive outcomes in the broader African region for example, creating new job ventures and advancements in technology. However, globalization has also cast a dark shadow on some sectors of the African economy , an issue that this paper will put into perspective with a particular case study on the Democratic Republic of Congo. Some proposed consequences of globalization addressed here include increased conflicts in the area, erosion of state sovereignty, imbalance in the ecosystem and income inequality. Sub-Saharan Africa is a term used to refer to all of Africa except the Northern region. Most of their economies are agricultural based and are not as stable as those in the Western world. The average income in sub-Saharan Africa is below the poverty line level. Nevertheless, this region enjoys a large comparative advantage on raw resources in the extractive industries for example minerals and oil. The demand for these minerals can perhaps explain why immediately before the great recession in 2008,there was the 27% increase in FDI; the highest ever seen(Jaja:3).Foreign companies can obtain these minerals at a very low cost in some African countries and reap huge marginal benefits. Some of the avenues they use to get them are questionable as is the case with the Democratic Republic of Congo. The Democratic Republic of Congo (formerly Congo Zaire) is a central African nation that borders the Atlantic Ocean to the west. Its neighbouring countries include Central African Republic Southern Sudan, Rwanda, Burundi, Angola and Tanzania (the two are separated by Lake Tanganyika).It is the second largest nation by area with over 65 million people. It was a Belgian colony and gained independence in June 1960. DRCongo has the most variety in biodiversity in Africa and enviable amounts of rare natural resources such as diamond, copper, gold, cobalt, timber and coltan. With its resources one would expect that such a country would be awash with prime economic developments, projects to exploit all agricultural potential and high standards of living. On the contrary, most of the civilians in DRC live in poverty and have not benefited from the rich well of resources they have. They are victims of years of civil war, propelled by power- hungry, conniving national leaders and part of the international community. A sneak peak into the colonial history of DRCongo reveals that the exploitation of the minerals for self-intrests is not a recent phenomena. POLITICAL BACKGROUND OF THE DRC In the late 1800s, King Leopold of Belgium acquired full rights of ownership of the Congo territory at the Conference of Berlin. He governed it like private property and the area experienced some developments. However, this came at the expense of the local people because they were treated as slaves and could not reap any fruits from their labour. Intense pressure from the international community on the Belgian parliament led to the reclaiming of the Congo region from the king’s hands. It was renamed The Belgian Congo state from 1908. There was significant economic growth at the time but the indigenous people were on the losing end again, exploited and enslaved. The fight for independence was won on June 1960 with Patrice Lumumba as Prime Minister and Joseph Kasavubu as president. Lumumba would later be fired and Joseph Mobutu, chief of staff of the new army, aimed to ‘restore’ the relationship between the two leaders with the help of the USA and Belgium governments. In January 1961, Katanga forces and Belgian troops executed Patrice. The Katanga succession ended in 1963 with the help of UN forces. There were several governments afterwards; the most notable one being that of Mobutu Sese Seko. His ‘career’ as president began in 1971. He was largely dictatorial; for example he revoked the powers of the legislature, fired the prime minister and conducted an election where he was the only candidate. Funds were mismanaged, state cooperations collapsed and the country was in debt. He renamed the country several times but officially used Congo-Zaire. Note that he had several billions of US dollars in a Swiss Bank account and still had favour with the USA government. It is believed that he even had a world bank official as a personal assistant. This in turn gave him â€Å"confidential information about granting aid to Zaire†. (Reno 1998:152) In 1994, the DRC was a refuge for the many Rwandese Hutus fleeing the Rwandan genocide. Refugee camps a few kilometers from the border with Rwanda were planning zones for attacks into Rwanda. Mobutu cheered them on. However in 1996, Rwandan led forces backed by Uganda and the The Alliance of Democratic Forces for the Liberation of Congo-Zaire, led by Laurent Kabila, advanced into Kinshasa to close down Hutu camps in Eastern DRC.As a result, Mobutu’s government was overthrown when he was away and Laurent Desire Kabila was declared president. Kabila’s leadership was no different from his predecessor’s. Conflict between his government and rebel groups ensued in August 1998 because Kabila saw the Rwandese rebels as threat to his government. The Ugandan group, led by Congolese warlord John Pierre Bemba, formed the Movement for the Liberation of Congo, joined the Rwandese and together they terrorized the citizens and the government .Kabila requested for military assistance from the international community but they hesitantly supported him since they did not know him enough to trust him. In 1999, the rebels and the government signed a peace accord and six other countries were witnesses. A new constitution was promulgated in May 2005 and in 2006 the first free and fair elections were held. Tension increased just before elections and the government, backed by the UN, disarmed all non- governmental factions to keep the nation stable. The trail of this civil war commonly equated to Africa’s first world war has left a trail of death, despair and pain amongst the people with over 5 million dead, several displaced, and thousands of women and children raped. It is interesting to question the ability of the rebel groups to oust governments sequentially. Could someone be funding them? Are there some hidden interests? The minerals in the DRC, and coltan in particular, are treasured gems in the technological era. When raw, coltan, which is composed of columbium and tantalum, looks like black mud or sand. It is used to produce capacitors. Capacitors are used to conduct electrical charge in high tech equipment for example cellular phones, computers and some jet engines. The DRC has the world’s largest reserves of the mineral. Four fifths of the world’s supply of coltan is in Africa and DRC has eighty percent of it. In the late 1900s,the sales of tantalum increased by three hundred percent. This time period coincided with the times of civil war in the DRC.As Dena Montague states in her article, â€Å"Stolen Goods: Coltan and Conflict in the Democratic Republic of Congo†, international cooperations such as Banro-resources cooperation, Finconcorde and Raremet imported DRC coltan via Rwanda for use in Asia, Europe and US A. In response to UN accusations of involvement in illegal trading H.C Stark, one of the largest producers of capacitors commented that they only purchase raw materials from established companies. However, established companies were indeed involved in illegally obtaining goods from DRC. Investors restructured deals in support of Desire Kabila instead of Mobutu in 1996.This was a violation of the constitution which stated â€Å"The soil and subsoil belong to the state-prospecting, exploration and exploitation requires permits from Ministry of Mines and Energy.† Local militia backed by Ugandan and Rwandese forces got supplies in form of food, money and military equipment in exchange for smuggled goods. The militia men took stronghold of areas with huge deposits of gold and coltan e.g. Bukavu, Lubumbashi and Mayi. Gold was exported through Uganda and into United Arab Emirates. It was difficult to trace from there. It is worth noting that between 1995 and 2006,gold was one of Uganda’s main exports. Additionally, Uganda had GDP growth rate of 6% per annum in 1999 yet the average GDP in Sub-Saharan Africa was about 2.5%in the same time. These trade revenues undermined the power of the central Congolese government because the Ugandan economy gained more from D.R. Congo’s resources more than the DRC’s economy did. The fact that the international community was in one way or another involved in increasing conflict in the DRC is undeniable. If the corporate investors were genuinely trading with DRC to improve the state of the country, they would have questioned the legitimacy of the DRC based enterprises and suppliers. Another simultaneous consequence of the years of instability was an imbalance in the ecosystem. Wildlife products such as elephant tusks and animal skin were and are still very marketable globally. They were sold or bartered in exchange of food, ammunition and other goods. With a nation in strife, this meant that there were neither environmental regulations nor expensive wildlife products. In the 1990s, there were increased rates of elephant poaching and habitat encroachment in the forest areas of Kahuzi Beiga National Park. Statistics by the UN reveal that in the area of Garamba Park, north eastern DRC, 4000 out of 12000 elephants were killed between 1995 and 1999.[61]The area was controlled by Ugandan troops and Sudanese rebels. This created a human-animal conflict. The militia fed on wild meat when on their missions. Wild meat was also the only easily available food source for the displaced persons. Rebel leaders disarmed the guards in national parks, thus they were unable to patrol the forested areas. Local conservationists also raised the alarm on the decreasing numbers of the bonobo monkeys; famed for language learning abilities when in captivity and complex social behavi or in the wild(Gretchen Vogel).Another result of the clash between man and animal as suggested in the article â€Å"Effects of War and Civil Strife on Wildlife and Wildlife Habitats†, was the spread of human monkey pox and bubonic plague. The people were exposed to more diseases other than water- borne and tropical diseases. With lack of adequate healthcare and restricted movements, the people’s lives were at risk too. The flora and soil were not spared either. The people burned the vegetation and cut trees to get timber and to create room for living and farming. Due to the uncertainty they were in, it is unlikely that their methods of farming were conservative e.g. overharvesting and thus leading to soil erosion. Timber, which is a fundamental raw material for the building industry, was cheaply available to local and international traders thus they found the political situation in the DRCongo very favourable to their activities. Globalization of trade and financial commodities in the world has a general pattern where most of the trade and investments are dominated by a few nations. They make policies that work to their advantage, a fact clearly outlined by Joseph E. Stilitzp in his article â€Å"Globalism Dis contents†. Agriculture, which is the backbone of many African countries, is sometimes left out in some of the import tariff reliefs given internationally on account of globalization. Some regional agreements also exercise some form of discriminatory trade towards agricultural products. Additionally, globalization has led to liquidity of funds due to free financial markets. This means that capital investments can quickly be converted to cash. African states are become vulnerable to liquidity perhaps because of several sectors of the economy that need quick monetary solutions and overreliance on foreign loans as Stiglitzp highlights. One probable outcome from this phenomena in the period of conflict in the D.R.C would be that the rich political leaders in the country became richer and richer whereas the common people sunk deeper into poverty. It is likely that the agricultural sector was neglected(and this is where the people economy was/is based)and the mining industry prioritized. Middlemen from some countries traded weapons and money, with the rebel groups and some political elite, for coltan and other minerals. It is also likely that some foreign companies were given full ownership rights of some mines after giving the leaders of the time were given some money. The Congolese will indeed find it hard to trust their leaders again. The harsh reality right now is that so many families are focused on the primary needs of fending for their families so the idea of demanding for their rights is would sound unpractical. The fragility of this state can be traced to the days of state formation and the nature of subsequent governments. If the leaders who came into power prioritized the formation of a strong army and building of the nation, then we would perhaps tell a different story. This region and several others in Sub-saharan Africa have faced a humanitarian,environmental and political turmoil for too long. To avoid a repeat of the civil war situation and its consequent effects, specific codes of conduct that promote economic and political stability should be considered in the globalization aspect. Foreign investments into Africa require strict policies and an end of the bargain that considers the welfare of the people e. g a company that wants to invest must contribute directly or indirectly towards building a hospital, school or social hall. This will be effective in ensuring that the transition between a globalized market and the previous one involves the whole society in all dimensions of life. This can only happen with government system that is dedicated to building a brighter future for these great nations. The effective building of DRCongo’s economy will involve Congo’s immediate neighbors, the whole of Africa and the world. Conservationists should develop programs in war torn areas so that resource conflicts do not arise in the future. Global gatherings that address environmental issues should also prioritize the critical environmental crisis the Democratic Republic of Congo and in other areas affected by similar or even worse conditions. REFERENCES Globalization, Culture and the Great Disruption: An Assessment International Journal of Academic Research in Business and Social Sciences February 2012, Vol. 2, No. 2 Dena Montague, Stolen Goods: Coltan and Conflict in the Democratic Republic of Congo, SAIS Review 22.1 (2002) 103-118 Joseph P. Dudley1,*, Joshua R. Ginsberg2, Andrew J. Plumptre2, John A. Hart2, Liliana C. Campos3Conservation Biology Volume pages 319–329, April 2002 Effects of War and Civil Strife on Wildlife and Wildlife Habitats Alan Cowell, Letter from Britain: Lack of African Dream Lets a Nightmare Prevail by The International Herald Tribune, 2 August 2006 Stiglitz Joseph.Globalism Discontents Conflict in Congo Threatens Bonobos and Rare Gorillas * Gretchen Vogel Science 31 March 2000: 287 (5462), 2386-2387. [DOI:10.1126/science.287.5462.2386] Report of the UN Panel of Experts on the Illegal Exploitation of Natural Resources and Other Forms of Wealth in the Democratic Republic of Congo, 2002. Reno, William. 1998. Warlord Politics and African States. Boulder, Colorado: Lynne Rienner.(preface of the book)

Building Brand Value: Gillette

The first safety razor with disposable blades was invented in 1901 by King C. Gillette. Since then to this date Gillette has been one of the leaders in shaving technology and innovation. Gillette has been the preferred choice for many men and women around the world for over 100 years. In the Mid-1970s the then appointed CEO Colman M. Mockler succeeded Vincent C. Ziegler after being with the company since 1957. Mockler’s strategic plan included the concentration of limited number of potential markets mainly with high volume returns and repeat purchase consumer items. He also invested in companies’ that were compatible with already existing manufacturing or distribution capabilities. Gillette's advertising budget was increased whilst at the same time cost-cutting measures were done in all other divisions. Basically he took a financial approach rather than a sales approach. The company was seeing success under the leadership of Mockler. Mocker was expected to retire at the end of 1991 but died unexpectedly in January 1991. While Mockler served as CEO for the period 1975 to 1991 the company was the target for three takeover attempts. In 1998 the Mach 3 was introduced. The new safety razor system introduced a third blade into the twin-blade system that dominated the wet-shaving market costing Gillette $35 billion to bring to the market. Gillette faced its worst economic performance in 1998, sales had dropped by 15 percent and 4700 jobs were cut. Some of markets that contributed towards the loss in income were Brazil, Germany and Russia, with the share price dropping by 11 percent. Gillette continued to underperform well into 1999 to 2000 and in October 2000. At that point the company’s managing board fired the then CEO Michael Hawley and announced a world-wide restructuring of Gillette. In 2001 James M. Kilts was recruited by the Gillette Board both as the chairman and CEO to bring his turnaround talent to the company. Kilts, the former Nabisco CEO had a reputation for fixing troubled companies. He was the first outsider recruited to lead Gillette. Some of the issues Kilts had at the top of his list to address upon his arrival at Gillette were 1) Duracell was no longer dominating the market as it had lost market share to other brands for example Energizer and Rayovac which offered similar performance at a lower cost. ) The company IT system was outdated and in some departments did not exist 3) Lacked communication throughout the organization both locally and internationally 4) Lack of discipline 5) Gillette's earnings were below expectations. 6) Lack of Innovation 7) Stock prices fell to 60 percent between early 1999 and late 2001. Attacking Gillette’s problems from within the organization Kilts demanded greater executive discipline, accountability and focus. Kilts also found that the company had lost its edge with a corporate culture that was outdated and failed to reward innovation. He found that the company did not keep up with the marketplace innovations and promoted staff mainly from within which did not foster any new ideas. Kilts introduced to the company a new more efficient meeting approach that promoted fact-based management, open communication, simplicity, collaboration, measurement, reports, and methods for working together. He wanted excellent performance that included the ability to collaborate across business units. Kilts Strategic Plan * Introduction of computer programs to aid with tracking of sales and inventory. Reduced the number of stock-keeping units, instead greater concentration was placed on the best selling items. * Reduction in overheads. * Increased advertising and conscious spending on R&D in key business units. * Increase accountability from managers through one and one meetings to discuss quarterly and annual reviews. * People were hired to lead and innovate, gradually changing people at the top. * Fostered teamwork and increased communication within the entire company globally. * The entire strategic plan was adapted or mapped precisely around the world. Kilts’ guiding principles included: Straight talk about problems and expectations * Courage to admit responsibility * Open dialogue and widespread communications * Clear priorities and attention to detail * Performance feedback At the end of the first quarter in 2004 Gillette reported 43 percent increase in profits which came mainly from the wet razors, Mach 3 and Venus systems. Under the watch of Kilts, the Gillette’s stock had risen by 50 percent. Within four years time Kilts was able to take Gillette from a declining slope to an inclining slope a nd made it one of the best-performing consumer products companies in the world. Eventually, on October 1, 2005, Gillette and Procter & Gamble merged companies. Procter & Gamble bought 100% of Gillette for $57 billion. Gillette continues to operate as the world best-selling razor with a mission and visions statement as follows. Vision: â€Å"The Gillette co. is a globally focused consumer products marketers that seeks competitive advantage in quality, value added personal use product. We are committed to build shareholder value through sustained profitable growth. † Mission: â€Å"To Build total brand value by innovating to deliver consumer value and customer leadership faster, better and more completely than our competitors. †

Friday, August 16, 2019

King Lear – Jealousy Between Goneril and Regan

In terms of power, Lear becomes the complete opposite of what he is in Act One by the end of Act Two. The fool says, â€Å"Now thou art an O without/ a figure. I am better than thou art now: I am a Fool, thou/ art nothing† (I. iv. 197-199). As the play progresses, the Fool points out that King Lear has become nothing. Misjudgment, betrayal and becoming â€Å"nothing† (I. iv. 199) leads King Lear into near madness by the end of Act Two. King Lear is very oblivious in the beginning of the play. His demanding personality reveals to the audience that he is blind to the truth. By asking his daughters, â€Å"Which of you shall we say doth love us most† (I. i. 53), it shows a vulnerable side of him because he craves being worshiped. Lear is more interested in listening to a speech on how wonderful he is, rather than leaving his empire in the hands of someone responsible. His thirst for compliments is so drastic that he even disowns his daughter for not worshiping him, also showing his lack of awareness because she truly loved him. We see Lear as a powerful character that puts himself in front of others in Act One. King Lear is so used to being treated like royalty that going from the most powerful person in England to virtually nothing in such a small amount of time nearly makes him fall into madness by the end of Act Two. Goneril and Regan are the main cause of this. At first, Lear was oblivious to their daughters plot to rule him out. Lear starts to catch on to this, and for the first time in the play, he is aware. After being abandoned by his daughters, Lear says â€Å"O fool, I shall go mad† (2. 4. 281), showing that he realizes the mistake he’s made. At this point in the play, the status of King Lear and his daughters have completely shifted. King Lears’ intentions were never evil, but his greedy actions were the cause of his fall. By the end of act 2, Lear gains more insight on what is really going on around him. Other characteristics from Act One still remain, such as his hunger for authority: The king would speak with Cornwall. The dear father Would with his daughter speak, commands, tends service. Are they â€Å"informed† of this? My breath and blood! â€Å"Fiery†? The â€Å"fiery† duke? Tell the hot duke that Lear— (II. iv. 91-96) Later on in the play, Lear says to Regan, â€Å"I have a full case of weeping but this heart/Shall break a hundred thousand flaws,/or ere ill weep- O fool, I shall go mad? †(2. 4. 281-283), at this point of the play, the audience feels pity for Lear. The Lear we see in Act Two is deprived of his powers through lies and evil tricks from Regan and Goneril. Th is has caused the King to become nothing, in contrast to the greedy and cruel King we see in Act One.

Thursday, August 15, 2019

Case Study: Rogers’ Choclates

CASE 9: Rogers' Chocolates Strategic Management INTRODUCTION Rogers' Chocolates is the oldest chocolate company in Canada based in Victoria, British Columbia. Rogers' Chocolates focuses on the premium chocolate market and differentiates itself by delivering award winning quality products at a fair price; this combination creates a good value for its customers. They also have expertise at creating an outstanding customer experience within their Victorian themed retail locations that have also won awards. The company is privately held and currently focuses its business in four market areas, direct retail , online/mail order , wholesale, and sales from a restaurant in Victoria. The company also produces and sells a line of premium ice cream. The company employes 130 people, the majority of which are in retail. Sales from the company's retail establishments account for 50% of revenue. Production takes place on a one-shift operation in a 24,000 square foot facility and is labor intensive. There are currently no measurements in gauge productivity and efficiency in the plant. The past president focused a growth strategy in the wholesale market and current order fulfillment strategy is to give priority to online and mail-order business, followed by wholesale accounts, leaving the retail locations last to be serviced internally. Sales have seasonal swells during the holidays and demand forecasting has been an issue; they have increased inventory to deal with these sales patterns but still encounter out of stock situations. The new president has been given a goal by the board of directors to double or triple the size of the company within 10 years. PROBLEM STATEMENT The focus on the wholesale market does not inline with the strengths of the company. Furthermore, the issues in operational efficiency with regard to production capabilities and demand forecasting are hindering the company from increased growth potential. ALTERNATIVES Focus on strengthening current retail operations. Focus growing the retail business into new geographic markets. Continue to grow complementary business lines (ie. Ice Cream) Develop core competence in operations management to drive efficiencies and reduce inventories. Upgrade technology in production to increase capacity Create new product lines and packaging to broaden the customer base. Franchise Sam's Deli. Franchise retail chocolate stores. ANALYSIS In 2006, the chocolate market size for Canada was US$167 million with the premium chocolate market growing at a rate of 20% annually. Competition within the premium market is a broad mix of small local niche players to large multinational corporations and is growing as larger traditional manufacturers enter the market via acquisitions or new product launches. Product differentiation is healthy and there are no indications of a price war starting between rivals. Product innovation appears limited, mostly focusing on new flavor introductions and variations in molding and coloring. Seasonal demands, especially the eight weeks prior to Christmas, can create demand that can challenge small companies with low production capacity and/or inadequate forecasting and inventory management. Competitors vary in the level of vertical integration and companies with large-scale operations and distribution networks enjoy a competitive advantage through economies of scale. Rivalry among competing sellers is active and fairly strong due to the following conditions: There is little to no cost for buyers to switch brand. There is a fair amount of product standardization in the industry. The products in the chocolate market have large seasonal swells and are perishable causing some price competition. Higher fixed production costs adds to this pressure. The addition of new competition by established companies such as Hershey's and Cadburys. Competitive pressure from potential new entrants is medium as most of the major players in the industry are already in the premium chocolate market; the projected growth rate in the market will strongly attract new upstarts but they will have challenges developing distribution and retail penetration with little to no brand awareness. Firms in other industries will have little impact in this market as there aren't any strong substitutions to premium chocolate. Competitive pressures stemming from supplier bargaining is mixed; large-scale manufacturers will enjoy less pressure from suppliers due to economies of scale while smaller niche companies will not have as much influence, especially in the area of organic and fair trade raw materials. Pressure from the buyer community is fair; demand is high but so is the ability to switch brands. Growing demand for socially responsible products, such as fair-trade and organic will increase pressure from the buyers. The current driving forces in the market are the high growth rate in the premium market and the entrance of new major firms; consumers' emerging interest in fair-trade and organic products is also a force to be considered. Key success factors in this market include a well known and respected brand and strong direct sales and/or wholesale distribution; quality and efficient production capabilities are also key success factors. Although profit margins are down, Rogers' Chocolates is in a strong financial position. Retail accounts for 50% of the company's revenues although the two new stores in the company's portfolio are not performing to expectations. Ice cream sales, although small compared to retail, show a strong contribution to overall sales. The key financial indicators are shown below; one area of concern is the major increase in the â€Å"days of inventory† and the accompanying decrease in â€Å"inventory turnaround†. This is a concern due to the perishable nature of the product and the negative affect on customer quality perception when product is sold past the expiration date which has occurred with some sales via wholesale accounts. {draw:frame} A SWOT analysis of the company has turned up the following points: STRENGTHS: a distinctive competence in retail, specifically the â€Å"customer experience† a strong financial base to grow the business a strong regional brand and company reputation to build upon better product quality relative to rivals ood customer service capabilities in retail and online sales. WEAKNESSES: weak wholesale network brand/company awareness is poor outside of the region weak supply chain competences in forecasting problems with operational efficiencies with old technology and high cost changeovers. OPPORTUNITIES: expansion into new areas entering into alliances or joint ventures to expand market coverage continued expansion of complementary products (premium ice c ream) explore new technology within production THREATS increased competition by new entrants in the market slowdown in market growth hift in buyer needs and tastes RECOMMENDATIONS I believe that Rogers' Chocolates should implement a combination of the following alternatives: Focus on strengthening current retail operations. Focus growing the retail business into new geographic markets. Continue to grow complementary business lines (ie. Ice Cream) Develop core competence in operations management to drive efficiencies and optimize inventories. The Rogers' Chocolates brand has been built based on a high quality product and the retail experience of their Victorian themed shops and packaging. This is their core competence and strength and it should be the focus of their growth. By solidifying the performance of the current locations and then opening additional stores in new areas the will expand their brand recognition while preserving the quality of their product. There ice cream line is complementary to the business and should be further developed and sold in the stores. Internally, and operational strategy to improve efficiencies in production and demand forecasting will reduce costs, preserve product quality and optimize production and inventory capabilities.

Wednesday, August 14, 2019

Program of Study Essay

I have one main goal and that is to become a Family Nurse Practitioner. Receiving my FNPI will allow me to be able to work in a variety of areas. There are several areas that I have a passion for and I still remain undecided in which path to take. Several of my interests are Telemedicine, Diabetes and Rural Health Nursing. Professional and Academic Background I began as a License Practical Nurse in 2004 at Ozark Technical School; I received my Registered Nurse in 2011 at the University of Fort Smith, Arkansas. I was not satisfied with my ADN, so I decided to advance and acquire my Bachelor ´s in Nursing via Oklahoma Wesleyan University. While attaining my BSN, I decided to go further and obtain my Family Nurse Practioner. Professional Goals I chose the Family Nurse Practitioner route due to my interest in working with families and my interest in Diabetes. Obtaining my FNP will hopefully allow me to work near my home, increase my yearly salary to send my two children to college. The decision to become a FNP was not hard due to my ability to assist the physician in ordering labs, assist in minor procedures and the ability to quickly assess a situation and react appropriately. Course Outcomes Obtaining my Family Nurse Practioner through the Master ´s program at Walden University will enable me to work, spend time with my family, and acquire the skills and knowledge to either work in a rural clinic, work with telemedicine or work mainly in Endocrinology. Practicum My goals are to use preventive and educative methods in controlling the epidemic of Diabetes. I would like to see rural and urban clinics using telemedicine to correspond with individuals with diabetes to assist them in lowering their A1C levels, eating healthy and leading healthier lives. The project I propose is whether or not using Telemedicine in the patient ´s home to interact with individual ´s with diabetes daily will lower A1C level ´s, assist them in eating healthy and leading healthier lives. Conclusion I am at the time in my life that I am able to pursue my FNP. My children are in their teenage years, and I am financially stable to pursue my dream of a Family Nurse PR actioner. References Catalog Search. (2014). Retrieved from Walden University Student Publications: http://catalog.waldenu.edu/search_advanced.php?cur_cat_oid=89&search_database=Search&search_db=Search&cpage=1&ecpage=1&ppage=1&spage=1&tpage=1&location=33&filter%5Bkeyword%5D=The+Essentials+of+Evidence-Based+Practice+ Transforming Nursing Practice through Technology and Innovation. (2011). Retrieved from www.himss.org: http://blog.himss.org/2011/07/08/transforming-nursing-practice-through-technology-and-innovation/ Program of Study Form Master of Science in Nursing, BSN Track Based on the information that you provided, the following credits may be transferred into your program at Walden University. This information is unofficial until all official transcript(s), international evaluation, and course description or syllabus is received. Academic changes in the program you are considering may also influence the final review. For the most updated information once you start your program, please refer to your degree audit located on your student portal. Name: Angelisa Lambert

Tuesday, August 13, 2019

Racial Discrimination and Health Problems Essay

Racial Discrimination and Health Problems - Essay Example How much of this stands true for racism specific stress has also been the subject focus of many studies. Researchers found an association between perceived racism and ambulatory blood pressure in African American college students. Also in the workplace, stressful racism places African Americans in a high probability group for the development of higher blood pressures. This clearly shows that racism can hasten the onset of hypertension even in younger age group and possible conclusion that can be drawn is that in an aging population the superimposed ill effects of stress induced by racism may be even greater. Similarly, women with higher stress scores who were subjected to high levels of internalized racism were at a higher risk of developing metabolic disorders such as obesity and diabetes due to altered hormone secretion. Studies have also attempted to assess objectively, mental and psychological implications of racism specific stress. Further research necessary to reach a conclusion linking the association of stress per se resulting from experiencing racial discrimination per se leading to changes in the health status of people who are getting older is carried out as seen below. Various measured variables are compared with a control group in the same age group without any exposure to racial prejudice taking into account confounding factors such as lifestyle habits, the presence of other risk factors such as smoking, environmental factors and preexisting or propensity for other age-related diseases because of heredity.

Monday, August 12, 2019

Comprehensive Project Coursework Example | Topics and Well Written Essays - 1500 words

Comprehensive Project - Coursework Example This provides a backup measure to cover the holes in the federal statutory codes when resolving a dispute. In the UAE, courts do not keep an accounting of cases gone to trial or decisions from those cases for building on previous case law. Building on case law benefits the person seeking relief from the courts as there is at least one other person who in a similar situation received a ruling in their favor. Case law would then support the argument made in the new case and provide a standard of proof necessary to make the original argument. In the UAE, this does not happen so every case must present with sufficient evidence and on its own merits before a judge. Judges have no expectation to render a decision based on previous decisions, meaning there is no precedent set outside of relying on the civil codes. Simply put, a judge can base his decision solely on the facts of the case in front of him and make a decision that is contrary to other decisions he or other judges have made in s imilar situations. For a contractor seeking relief in the UAE, understanding the civil codes and the federal laws is the best manner of protecting oneself. In the UAE Civil Law no. 2 of 1987 (the â€Å"civil code†) articles 870 to 896 specifically, provides the legal framework for the construction industry (Beamish, 2). The codes explain the expectations of both parties and the manner to find resolution without relying solely on a decision from the courts. In commercial transactions involving a contract, it is necessary for all parties to understand the significance this document has in their business dealings including the limitations of their agreement (Coburn). More importantly, both parties must understand what course of action is valid for them to undertake to ensure fulfillment of the contract including when one party will not pay for services rendered or materials provided. The UAE Commercial Transaction Law no. 18 of 1993 (the â€Å"CTL†), articles 6 and 11spel l out the criteria required to become a party to a construction claim (Al Tammi & Company, 1). By familiarizing oneself with the statutes is the best manner to understand the elements a contract should contain and what course of action to take, such as arbitration and a mechanics lien when the other party refuses to pay for services and materials (Al Tammi & Company, 1). The Civil Procedure Law of 1992 (the â€Å"CPL†) articles 203-219 specifically discusses the use of arbitration and the manner in which the arbitral awards are authenticated (Al Tammi & Company, 1). The amount of unpaid contractors in the UAE has increased in recent years costing â€Å"hundreds of millions of dirhams to hundreds of millions of US dollars† (Delmar-Morgan). These cases had been clogging up the court systems when arbitration of these cases became popular. Now, the arbitration cases have increased to a point where it is difficult to tend to the client’s needs in a timely manner. The se are not cases of a couple hundred or thousands of dollars or dirhams but millions. One case involving British consultants and engineers who were never paid equaled $636 million (Delmare-Morgan). WS Atkins, a company that designed Burj Al Arab waited for payment of $39.7 million (Delmar-Morgan). Through the arbitration process, WS Atkins expected payment by the first quarter of the next year, yet WS Atkins continued to wait for

Controlling Strategic Plans Research Paper Example | Topics and Well Written Essays - 250 words

Controlling Strategic Plans - Research Paper Example The research paper "Controlling Strategic Plans" discusses why it is necessary to monitor and control strategic plans and who should be responsible for this. When the organization deviates from the set goal, monitoring and controlling activities help it bring back ‘on track’. Moreover, any lacunae in the planning process can be identified only when proper monitoring process is in place. Needless to say that the controlling activities or corrective actions are possible only through proper monitoring of the implementation of the strategic plan and the results. While developing a strategic plan is important for an organization, it is equally necessary to implement them effectively. Monitoring and controlling activities are essential parts of an implementation program of the strategic plan. Monitoring the plan periodically means ensuring that the plan is progressing ahead in the right direction to fulfill the goals that the organization has earmarked. Monitoring and controll ing exercise should be done by the top person of the organization such as Managing Director or Chief Executive Officer who is responsible for implementing the strategic plan because then it becomes possible for him or her to identify the shortfalls in the strategic plan and take remedial measures. Failing to monitor and control strategic plans will result into non-achievement of the strategic objectives. Deviations in outcomes are bound to come but that is the monitoring and controlling activities that help update the strategic plan time to time.

Sunday, August 11, 2019

Adaptation of the Color Purple from Alice Walker and Steven Research Paper

Adaptation of the Color Purple from Alice Walker and Steven Speilberg's movie - Research Paper Example Her best known and most critically acclaimed novel is The Colour Purple, written in 1982, which earned her a Pulitzer Prize and a National Literature Award. The novel was adapted for screen-play by Steven Spielberg in 1985, in what was a significant departure from his summer blockbusters. The film follows the life of Celie, a young girl of African American heritage, and via her life captures the problems faced by African American women, including racism, poverty and sexism. While the movie garnered mainly positive critical response with prominent critics besting it for its sentimental, emotional and absolute truths about American history, there was also some stinging criticism. This paper attempts to ascertain whether or not the adaptation was successful, when compared to the great novel. After viewing the movie at its premier, Alice Walker didn’t become its big fan. However, after being the recipient of many positive reactions and letters, she came to the realization that, wh ile the movie did not expressly show her vision, it did convey the correct message. She claimed that, while every fan might miss the best part, what was there would be its gift, and that she hoped they would accept the spirit with which it was given (LaGrone 50). She also quite often answers questions on whether she liked the film by saying that the book was not film and vice versa. She is right. This is the reason why Spielberg took the decision to differ slightly from this great novel. However, he stayed true to her message, especially on overcoming adversity. The screenplay creates a successful and faithful adaptation, via its capturing of the novel’s characters, plot, setting, themes and characters (LaGrone 51). Spielberg faithfully sticks to the central themes of the novel. In the novel, Celie is used by Walker as the protagonist, showing how asserting oneself aids an individual in resisting oppression. This comes out in her letters to Nettie, especially touching on Albe rt, her cruel husband (McBride 172). The movie also sheds light upon this theme. Spielberg, however, turns these letters into scenes full of power and vitality. In one standout scene during dinner, where Albert discovers that Celie is moving to Memphis with Shug and leaving him in the process, there is the use of direct quotes lifted from the book. Cellie shoots to her feet and calls him â€Å"lowdown dog†. In the novel, Celie writes that she is black, poor, ugly and could not cook, but at least she was there (McBride 172). However, during the film, Celie says this to Albert, straight to his face. Spielberg incorporates the same core characters into the movie, from the book. Whoopi Goldberg encapsulates what Walker intended, but breathes new life into Celie’s character, via her hidden smiles, sly winks and muffled laughter. While this is not evident in the novel, these differences aid the audience to see and hear Celie’s transformation from an invisible, passive woman into an independent and strong one (Lupack 101). The movie also closely portrays Shug’s character, just as in the book, where she changes Celie’s life via acting as a catalyst. The screen translation, however, has one flaw, as it contains scenes that show Shug as a vulnerable woman. The movie attempts to create conflict with her father who is a preacher and disapproves of her lifestyle. She is depicted trying to reconcile and impress her dad. In the book, however, she is a free from oppression rebel who is also quite unrepentant. The films characterization of Albert is also slightly off what can be gleaned from the book. At first, the movie portrays Albert accurately as a cold, domineering husband who wed Celie not for love but convenience. Later, it differs slightly from the book since Albert

Saturday, August 10, 2019

Managing Innovation by Cross-Functional Teams Research Proposal - 1

Managing Innovation by Cross-Functional Teams - Research Proposal Example Corporate strategy in effect maps out the businesses in which an organisation intends to compete in a way that focuses resources to convert distinctive capabilities into competitive advantage. (Andrews, 1997). In this vein, managing a cross-functional team requires considerable skills as effective teamwork is seldom an automatic process. Organizational change or change in general can be defined from a variety of points depending on the perception of the user. An individual or employee in an organization may look at a new post or position as a change while higher management may feel it is unimportant. (Cao et al, 2000, p187). Changes viewed also by management may also not be looked upon as change by outsiders like competitors or suppliers. This has led to the categorizing of change in various ways, some of which include strategic and non-strategic change, incremental and radical change, changes of identity, co-ordination and control, planned and emergent change, change in terms of scale, human-centered change in terms of individual, group and inter-group or organizational level, quantum change and so on. (Cao et al, 2000, p187; Todnem, 2005, p372). Innovation is a management change process. There is a growing number of existing literatures on value drivers, core competences, and success factors in an organisation. E.g. Sim & Ali (1998) compared the attributes and performance of firms from developed countries with those from developing countries within the same industry, Park & Russo (1996) focus on the differential impact of firm’s size to its success and parents shareholders value, Hagan (1998) and Prahalad & Hamel (1990) focus on the core competence of an organisation however, none of these studies has addressed the qualities and salient features with respect to a particular organisation. Under today’s fierce competition it has become increasingly necessary to probe

Friday, August 9, 2019

How did the United Staes policy in Iraq,Afghanistan and the Middle Essay

How did the United Staes policy in Iraq,Afghanistan and the Middle East, particularly during the Bush administration affect the U.S interest in Latin America after 2002 - Essay Example When George Bush took over power, he was among the people ready to fight against these criminal activities in Latin America. However, the US invasion in the Middle East led to its disengagement from Latin America. This is because a good number of Political bodies were against this move to Iraq. Their argument was that the already weak economy would further deteriorate since the US would intentionally increase gasoline prices. The US in its proclamation states that its key interests in other countries are in line with promoting democracy and peace. This includes eliminating oppressive governments in most of the Middle East countries while at times supporting the same oppressive regimes depending on how they agree with their economic interests. This support has led to controversies bringing the topic back at home. The Latin America’s budgets are in a vacuum just because the US wants to use such oppression to impose is policy reforms over Latin America (Youngers). By evading discussion like terrorism, it has become very easy for the US Southern Command to encourage most of the military operations in the internal affairs of most Latin American countries. The US has economic interests in the Middle East. It uses diplomatic missions, relief assistance to cover up its main agenda. This on the contrary displaces most Latin American nations who are the leading oil sources in the American region to compete effectively. While the US promises to support them in fighting issues like terror, it goes ahead to enter deals with terror related

Thursday, August 8, 2019

Crimnal Justice Coursework Example | Topics and Well Written Essays - 500 words - 1

Crimnal Justice - Coursework Example This might be plausible given the hip-hop war tension that was between the west and east coast. Poole believes the hit was organized by Reggie Wright. The other fact is that after the murder a called was placed to the police accusing a rogue LAPD officer Mack. Police found a gun that matches the one was the used to kill Biggie in Mack’s home. He had a Tupac Shakur shrine. Most witnesses claim the murderer wore a blue jacket that was common for the Crips that provided security for a company that B.I.G owed money. Another witness disputed this claim by saying B.I.G did not use many bodyguards. The witnesses who could support the prosecution case are the ones who gave testimonies on the killer wear blue caps. All the witnesses who could describe the murder very well should join prosecution. The informant who claims Suge Knight Order the hit and the one who believes LAPD officer Mack was responsible for the shooting. The witness who disputes the shooter being a real Muslim should on the prosecution. He says, â€Å"He dressed like a Muslim but he was not a Muslim, he was a cop.† The trial process for the murder of Christopher Wallace should take long. The trial will begin by the prosecution presenting evidence to support claims that the death of Christopher Wallace is connected to the hip-hop war and a rogue LAPD Officer. The prosecution would present witness that can give clear testimonies to dispute theories that involve drugs and Muslim shooting. The opening statement for the prosecution would go like this, â€Å"It is unfortunate that today we are here to seek justice for the murder of Christopher Wallace. I call upon this court to act to let the family of the victim feel and understand that justice is real. The case is surrounded by so much controversy, but I am certain my team will produce enough evidence to help the court make the right decision.† The prosecution should focus on asking questions that seek to

Wednesday, August 7, 2019

Analysis Essay Example | Topics and Well Written Essays - 500 words - 2

Analysis - Essay Example On the other hand, the Semite is described as a type of leach upon all that is good which the Aryan establishes. If an Aryan explores new lands, develops industry and establishes an organized peace, the Semite will soon follow seeking to get gain through some nefarious scheme or plan. A theme that is visited several times in the article is the subtle nature of the Semite. The author describes them as incapable of establishing anything in an honest manner, so they live by subtle infiltration of established societies and governments. The author describes an invasion of the Semites as not one of military might, but of one cloaked in the secrecy of financial transactions and governmental intrigue. The Semite is described as one who employs â€Å"wily tricks† to accomplish his ultimate goal, namely the overthrow of the noble Aryan so that the Semite can rule over the lovers of virtue. The final point of this reading is to show that the Semite is especially adept at mercantile trade and finance, so these areas are to be regarded with caution and mistrust by the Aryan. Drumont reiterates that the Semite is incapable of invention, so his source of power will come by controlling the worlds of trade and finance. These crafty people must not be trusted because their goal is to overthrow the race that rightly deserves to rule, namely, the Aryans.

Tuesday, August 6, 2019

Global Financial Crisis Essay Example for Free

Global Financial Crisis Essay The global financial crisis started to demonstrate its effects in the mid of 2007 and continued in 2008. Around the world a large number of the financial institutions collapsed, stocks fell and the entire world was under stress. The crisis unraveled in the USA, UK and then spread around the world. This meltdown of the financial systems will affect the lives of almost everyone around the globe. The genesis of the financial crisis was the collapse of the US sub-prime mortgages. Many people defaulted on their repayments of these loans. Basically, a sub-prime mortgage is a type of a loan made to borrowers who do not have a good credit history and are unable to qualify for the high interest rates in the market. It has a diversified product range from mortgages to car loans to credit cards. These loans started out in 2001 when the interest rates were historically lowest in US. At that time, the demand for the real estate was on high because of these low interest rates. The builders kept on investing in the construction of the houses even though the demand for property saw a decline after a while. Due to this huge boom, the property became so over valued that it saw the worse decline in prices in 2006 (University of Iowa, 2008). This made most of the investors and leaders became unwilling to refinance the sub-prime loans and were strict in their policies. This raised the interest payments which some of the investors were unable to afford. Hence more and more people stared defaulting. Around 3. 6 million home owners lost their homes due to the mortgage defaults. There have been around $100 billion worth of Sub-prime mortgage leans defaults from the low-credit worth people. At the same time, the world saw the world stock prices falling in most of the places which made large number hedge funds insignificant. This collapse in demand for the securities which were backing the sub-prime mortgages forced 90 of the firms into declaring bankruptcy (Acharya, 2007). These crises in the sub-prime mortgage and the declining world stock prices led to the global financial crisis in July 2007. Investors had also over indulged themselves in the sophisticated financial instruments such as the derivatives thinking they were reducing the risk associated with the assets. As people started earning money through it, they started taking more risk and hence earning more money. The real problem arose when the market turned towards speculative in nature. This means that with each loss the investor went with more risk to cover up the earlier losses and earn a higher profit. The financial instrument that the bank expected to will reduce its risk created the greatest problems for it. This is how the derivatives became a problem in the current world and one of the causes of the destruction of the banks around the globe (Shah, 2009). This shattered the confidence of the investors. People now did not want to buy the assets or securities but they wanted their money back. Therefore, this created a crisis situation for the investor confidence around the globe. The western economies were also affected by the process of securitization. It is a process by which the financial assets are backed by the real assets through the use of instruments such as the derivatives. The sub-prime mortgages were risky and under rated when compared in isolation but as soon as these loans were gathered together with other debts to diversify risk, they become more attractive and over-rated. Soon when the stocks fell in the international market, most of the securities lost their value. This caused a large deficiency in the capital of the banks and therefore, they were forced to tighten their credit policies around the world. For example: Lehman Brothers filed for bankruptcy on September 15, 2008. It was the largest bankruptcy filed in the US history because it held a major share of the assets in the US. Its share value had fallen to less than $1. The bank had given out excess amount of the sub-prime mortgage loans which were backed by securities but it had no way to pay back the depositors. It had started facing severe problems when the credit policy was tightened across the world. Sine they were refused to be bailed out, they had filed for bankruptcy with the US government. This had a direct effect on almost all the banks in the US and abroad that were holding the assets of the Lehman Brothers and hence this caused a ripple effect globally. The whole world was affected with the sub-prime mortgage defaults because the world is a global village now and all the businesses in it are inter-related with each other. The credit housing market had indirectly affected all the other markets around the globe. The lenders developed strict policies for the credit facilities and hence decreasing the consumer spending. Demand for the goods and services decreases, profits declines and hence less investment and production. This leads to the layoffs, less household income and therefore less consumer spending. Due to the financial crisis, it is estimated that approximately 80 million people could be forced to live in poverty. The developing economies will be experiencing slow growth rates due to the decline in the export demand. This is due to the diminishing demand of the goods and services globally (Hodgson, 2007). The world GDP is expected to grow at a rate of 0. 5% which is slowest since World War II. The global financial crisis that unraveled in 2007 did expose some serious flaws in the regulations internationally as well as domestically and the global financial system. The major cause of the global financial meltdown is the weak regulatory mechanisms, inadequate transparency, insufficient competition and poorly designed incentive structures. The banking system in the US is the most unregulated sector of the financial institutions. It could create and sell many diversified products making them look secure and attractive. When the loans were being given out, there was very little risk analysis being done and that also with the imprecise and inaccurate data and models. The strict regulation of the sub-prime mortgage and low interest loans would have reduced the chances of the financial meltdown. In the US there is no notion of a central bank that controls the other financial institutions such as the insurance companies, mortgage banks and banks. The US federal government preferred self regulation of the financial institutions under the rule of Chairman Alan Greenspan. This provided for the relaxed and simple environment where different institutions came together to produce and flood the market with sophisticated and diversified products and made them look very attractive and safe. The investors invested in these banks as they did not have the right information about the negative consequences which were never released. This type of policy does result in growth but at the same time it also results in mismanagement and less control. Most of the firms present in the world were resistant to bring any change in themselves which would otherwise have brought strong competition in the market. The people have now called for better regulation and reforms for the financial sector both internationally and domestically. They want the developing nations to have some voice in the formation of these policies and shaping up the global economy. The simple and well designed policies will be easy to implement. They will protect the financial institutions in the short run and bring innovation and diversification in the products in the long run. The most important is that the banking sector in the USA needs to be regulated heavily by a central bank. They should be regulated in a way that they have the minimum required amount of deposits. The Bank of England deputy governor Sir John Gieve suggests that the capital and the liquidity requirements for the bank should be increased and made stricter along with the tough restraints on the building up of the risk. At the same time, the loans should be made difficult to get in good times. These banks need to provide the investors with the adequate information when they are making their decisions. The rating agencies in USA as well as around the world must have stricter reforms and should be heavily regulated so that they properly rate the assets using appropriate models and data. It is also suggestive that there should be a single international rating agency that will rate the assets worldwide. The IMF and the World Bank reforms will play an important role in the future. They need to go about a structural change in their policies because their â€Å"one fit all solution† was a disaster for the developing economies. They had earlier realized that the financial crisis in the developed world will sweep into the developing world and harm it further. Even then they were unable to find a clear solution. Therefore, they need to change their policies and must include the say of the poorer nation while making the new policies. The international bodies and the banks need to be more transparent in their operations and the enforcement of policies so that there no further objections rose to it (Shah, 2009). References Shiller, R. J. (2008) The Sub-prime Solution, Princeton University Press.Fraser, D. , Gup, B. , and J. Kolari (2007) Commercial Banking: The management of risk, John Wiley Sons, Australia. Heffernan, S. (2005) Modern Banking, John Wiley Sons, Chichester, England. Koch, T. and S. Scott MacDonald (2003) Bank Management, Thomson South Western, OH45040, USA. Laeven, L. and F. Valencia (2008) Systemic Banking Crises: A New Database, International Monetary Fund, Washington. Rose, P. (2002) Commercial Bank Management, McGraw Hill Irwin, Boston. Faber, Marc. Gloom Doom economist: credit crunch will spread. CNBC 19 May. 2008. Nazar, Yousuf, â€Å"The fall of US financial capitalism. † Dawn 22 September. 2008. Acharya, M. (2007) Credit crunch – the big picture, The Star, http://www. thestar. com/article/247510 [retrieved on Mar 05, 2009] CNBC, (2007) Gloom Doom Economist: Credit Crunch Will Spread, http://www. cnbc. com/id/24703745 [retrieved on Mar 05, 2009] Credit Crunch, (2007) Crunch Time for Credit? An Inquiry into the State of the Credit System in the United States and Great Britain, http://www. creditcrunch. co. uk/home/article. php? story=20070905083913327 [retrieved on Mar 05, 2009] HM Government, http://www. realhelpnow. gov. uk/credit-crunch-causes-why. php [retrieved on Mar 05, 2009] Hodgson, A. (2007) Global credit crunch: turbulences and outlook, Euro monitor international, http://www. euromonitor. com/Global_credit_crunch_turbulences_and_outlook [retrieved on Mar 05, 2009] Nazar, Y. (2008) The fall of US financial capitalism, Dawn, http://www. dawn. com/2008/09/22/ebr1. htm [retrieved on Mar 05, 2009] Gieve, J (2008) Speech, John Gieve: the credit crunch and the UK economy, http://www. bis. org/review/r080924e. pdf [retrieved on Mar 05, 2009]