Economic Growth and Development Research Paper Example | Topics and Well Written Essays - 750 words

Economic Growth and Development - Research Paper Example Economic growth refers to an increase in the output of a country over time according to Glanville and Glanville. It is an increase in a country’s national income indicated by the Gross National Product, GNP or Gross Domestic Product, GDP or in per capita output, that is, GNP or GDP per person. This makes its measurement quantitative, hence a macroeconomic variable that could be measured in a straight-forward manner. The history of economic growth could be traced back to the Adam Smith theory which argues that savings and investment are growth stimulators. Growth would be directly affected by accumulation of capital and indirectly through labour productivity and exchange and trade. This theory postulates economic growth as the increase in the main factors of production, namely, labour, capital and land.Economic growth does not consider the magnitude of the informal economy, also known as the black economy, which refers to the unrecorded economic activity. It does not account fo r natural resources depletion that could lead to pollution and disease. It concerns the increase in the output of an economy. Haller defines it as an increase in the income per capita of a nation, especially quantitatively. The ultimate goal of economic growth according to Colombatto is to increase people’s production and consumption of both goods and services.Economic development differs from economic growth. It is a rather much broader concept which involves non-economic and intangible improvements on the standards of living as documented by Glanville and Glanville

New Land Essay Example for Free

New Land Essay When Europeans settled in the â€Å"New Land†, they had hard time adapting living with the Indians. However, the Indians feared what Europeans brought such as weapons. There was a huge difference between the tribes’ weaponry and the European because of their powerful advances with the most progressive rifles. The flintlock rifle was a new weapon that the Indians had managed to use, which proved to be â€Å"too heavy, cumbersome, and inaccurate to be useful in the kind of combat characteristic of Anglo-Indian struggles† (Brinkley 50). Later on they wanted the Europeans to behave as â€Å"fathers† to help them in their disputes and conflicts (Brinkley 60). Progressively, Europeans learned to fulfill some of their expectations. The Indians didn’t understand the meaning of the relationships between societies, furthermore Europeans â€Å"thought much more in terms of ceremony and kinship† (Brinkley 60). The Indians were quite satisfied to form closer relationships and doing marriage ceremonies. After 1776, the balance of power between Europeans and Natives Americans loosened because of the presence of British and American (Brinkley 61). It began to weaken the strength of their relationship because it was difficult for the newer settlers to give gifts to them and the mediations (Brinkley 61). The â€Å"middle grounds† were destroyed replacing other constructed buildings by the Europeans. It created other conflicts that led to once again difficult to adapt. It seemed that both Native Americans and early Euro-Americans had a love-hate relationship that made their relationship so hard to establish peace and conformity. At the beginning the tribes were afraid of the advances Europeans had with their weapons, but they had the chance to be taught by them on how to use the weapons. By the time Europeans were trying to gain trust to them, Indians were in the need to be protected and to form new relationships. Thus far, they both ended up having issues one more time because Europeans were ambition to acquire more land in Tribal territory.

Mike Tyson Point Of View :: essays research papers

During March 2001, the American heavyweight boxer Mike Tyson and his management expressed a keen interest in visiting Australia to host a boxing bout. The decision about whether or not to welcome Tyson will fall upon the Immigration Minister, Mr. Phillip Ruddock. If Tyson applies for an official visa to enter Australia it should be granted. Australia should seize this great opportunity and ignore the unjustified outrage expressed by some interest groups. With women and family groups applying pressure upon the Immigration Minister to ban Tyson from Australia they are denying him the opportunity to do his job. Tyson does not indent to visit Australia on a holiday and to roam the streets in search of sexual prey. He will have the intention of fulfilling his responsibilities and given the time spent in prison for crime committed long ago, fears of him re-offending are unjustified. Furthermore, people jump to conclusions about his character based on his past rather than likely future intentions. According to a close friend of Tyson, former Australian boxer Jeff Fenech, Tyson would have a busy program including promoting boxing on a world class level in this country and raising the profile of the sport. Fenech is in a stronger position to judge Tyson’s character rather than other people, because of his inside knowledge of how professional boxing is organised. This makes comments by the chairperson of the woman’s group to be obsolete. She made many negative comments about Tyson and his personalty. However, she had no first hand experience with Tyson compared with Fenech and she was not entitled to establish obstacles for him just to do his job based on crimes committed long ago [be specific]. Tyson’s visit to Australia would cause considerable benefits. The attraction of a visit by a former world heavyweight champion boxer would be irresistible for many people and would lead to a significant injection of money into domestic business.

Zero-based budgeting

Introduction Introduction of Zero-based budgeting Zero-based budgeting attempts to get the better of the restrictions of incremental budgets. The method was non used last year’s budget, this method required that planed expensive for bing activities should get down from base nothing. The directors needed to explicate all budgeted expensive was non follow the alteration from the last twelvemonth. Besides used zero-based budgeting, the method ever focal point on activities or programmes, the method was non followed characteristic of traditional budgeting, the method used functional section under on line-item. Programmes normally associate to non-profit devising or public sector organisation. ( Colin Drury. , ( 2012 ) , pp.381. ) . Introduction of Po Leung Kuk Po Leung Kuk established November 8, 1878, get downing work was prevent the abduction, protect incapacitated adult females and kids, mediate household and matrimonial struggle. In gait with Hong Kong maintain traveling alteration, Po Leung Kuk was extent societal service organisations, they was supply different multiple high-quality service for public. Engineered cost, Discretionary costs and Committed costs in organisation Po Leung Kuk in order to supply more service to public, form will better the aged place installations in order to hold great environment for old people, besides, form will construct more medical and dental room to increase the medical attention, which are engineered cost in organisation. In the discretional costs, Po Leung Kuk normally purchases wheelchair, rehabilitation equipment for old people, form besides purchases book to give pupil reading, form can keep the patron program from public, which besides can diminish disbursals in organisation. Furthermore, In the committed costs, the societal support traveling to alter, and the old people continue increase in societal, the organize need to alter the service mark, the organize will put up subsidiary medical service, the organize will engage more profession physician and nurse to supply perfect median service for old people. Omegaero-based budgetingapplied to organisation The nothing based budgeting based on Po Leung Kuk, the determination units were education personal businesss and societal services. Po Leung Kuk instruction personal businesss service provide different multiple high-quality service for public, for illustration, kindergartens, primary school, secondary school, college, dark school, instruction service centres, particular school and residence halls. The instruction personal businesss service determination bundle were scholarships, grant and instruction financess, school and word competition and reading plan. First, the scholarships, grants and instruction financess, they in order to increase instruction quality, the organisation provided different instruction financess for pupil, the organisation besides collected resources from external. Furthermore, the joint schools and word competition could allow pupil were multiple development and discuss in the competition. Besides, the organisation will keep every joint schools and word competition, for illustration, ball game and composing competition, this could allow pupil had wellness lift in school. Besides, the reading plan attracted most public to back up, form used contribution fee to purchased book, improved library installation and promoted reading actives, which encouraged pupil read different books and supply great environment for survey reading. The societal services determination bundles were kids and young person service, rehabilitation services and aged services. First, the kids and young person service provided multiple support and helper to assist kids and young person people exert endowment, overcome hard and edible positive life. And the service provided fund to immature people, they could used the fund to complete their dream. Furthermore, the service helped disablement people and provided multiple rehabilitation services and provided residential service, twenty-four hours activity Centre, integrated vocational services, para-medical and other services. The service besides provided aged services, the service give old people live aged place and provided adjunct service to old people. The ranking of determination bundles goes in the order of diminishing benefit. The director must place of import merchandises or services in company. The highest precedence assigned to anticipate addition of service and merchandise in the hereafter. ( accounting-financial-tax ) , ( n.d. ) . In the Po Leung Kuk, the organisation normally used near half contribution in instruction service in the old twelvemonth. ( Po Leung Kuk ) , ( n.d. ) .The old people keep addition in the hereafter, the demand of aged service besides will increase. So the first rankings of bundles are aged service, for illustration, medical and incorporate wellness services, aged places and aged community attention. In position old people maintain traveling addition, the organize should utilize the budget to keep more service and engage more professional physician and nurse to see old people, for illustration, the organisation can utilize the budget to supply more twenty-four hours attention services for old people and can supply more medical and incorporate wellness services in the hereafter. The 2nd ranking of bundles are rehabilitation services, the organize use the budget can supply more preparation and helper for disable individual, which service can increase attention ability and increase life accomplishment for disable individual. Though the service can allow more people to understand disable individual and can give more assurance for disable individual to work in societal. Finally, the 3rd rankings of bundles are youth service, with the societal support traveling to alter, the kid and immature people face different job, for illustration, the immature people deficiency of work experience and educational, they will go less competitory group. The organize can utilize the budget to assist this people, the organize can construct more event and category to research their possible and increase their occupation accomplishment. And form can keep some coder with concern, allow the immature people can pattern to acquire more occupation experience, allow immature people to do confident and set up positive value. The scholarships, grants and instruction financess, joint schools and word competition and the reading plan is non including rankings of bundles. Because this had been more fund from public, the service could utilize the fund and donate to keep many event for their pupil. Beside, the service had been adequate installation to supply pupil, so the three services are non include ranking of bundle. . Advantage ofZero-based budgeting The director can utilize zero based budgeting to measure the best public presentation of different bundle, such as, the Po Leung Kuk were different service provide to public, through the ranking of bundle, the director can understand which service are benefit and will concentrate the service public presentation in the hereafter. ( AccountingTools ) , ( n.d. ) . Besides, through the nothing based budgeting can increase teamwork in the organisation, for illustration, through planning scheduling, and budgeting with different measure to complete zero based budgeting, which must necessitate teamwork and communicating with different section to complete the end together. ( AccountingTools ) , ( n.d. ) . Furthermore, the zero based budget more sensible than traditional budget. In the Po Leung Kuk were different service provide to public, the organize used fund and budget to instruction service in old twelvemonth, but the societal support traveling to alter, the societal are besides different job, for illustration, more teenager face deficiency of instruction job and unemployment, so the organize must maintain traveling to alter the service mark. Through the nothing based budget, the director need non to follow how to used budget in old twelvemonth, the organize can flexible alter the budget to different service. ( AccountingTools ) , ( n.d. ) . Disadvantage ofZero-based budgeting The director utilize more clip to put up zero-based Budge, this will utilize more clip to planning, scheduling, and budgeting to put up the zero-based budgeting. In the Po Leung Kuk were different service provide to public, the director must utilize more clip to put up the nothing based budgeting system. ( AccountingTools ) , ( n.d. ) . Besides, the Zero-based budgeting may increase disbursals in the hereafter, in the Po Leung Kuk are large size organisation, they are different section and service, if the zero-based budgeting tally in organisation, the director must utilize more clip to detect the budget whether consequence in the each service. Which may allow director can non complete their original occupation, form may engage extra people to complete their occupations, so the zero-based budget may increase the disbursals. ( AccountingTools ) , ( n.d. ) . Beside, the director utilize more clip to reexamine the day of the month and information to be after the zero-based budgeting, the day of the month and information may insufficient Lashkar-e-Taiba director do incorrect determination ranking, which will impact the budget arrange to service and may non hold benefit in the hereafter. ( Colin Drury. , ( 2012 ) , pp.382. ) . Furthermore, the budget may used for service in long-run, if long-run nature, this may do big hard currency disbursals and will publish job, for illustration, if the director determination ranking is education service in Po Leung Kuk, the budget is non plenty for the service, this will do extra disbursal, so the director may be after short-run budget planning. ( accounting-financial-tax ) , ( n.d. ) . Decision The zero-based budgeting is utile in organisation, because the societal support traveling alteration, the organize need non follow to used budget in old twelvemonth, the service mark besides maintain traveling to alter, so the zero-based budgeting suited for organisation, Besides the budget plan can allow director to understand which service public presentations are best in the organisation. However, through the planning, scheduling, and budgeting, the zero-based budgeting usage more clip and people to put up. And the budget plan merely set up short term budget planning. Refervitamin Ence Colin, Drury. , ( 2012 ) . Management and cost accounting. eight erectile dysfunction. United Kingdom: Cengage Learning EMEA. Po Leung Kuk, ( n.d. ) . History. Available from: hypertext transfer protocol: //www.poleungkuk.org.hk/social-services.html [ accessed 9.11.2014 ] Investing Answers, ( n.d. ) . Zero-Based Budgeting. Available from: hypertext transfer protocol: //www.investinganswers.com/financial-dictionary/businesses-corporations/zero-based-budgeting-5925 [ accessed 9.11.2014 ] Accounting Tools, ( n.d. ) . Advantages and Disadvantages of ZBB. Available from: hypertext transfer protocol: //www.accountingtools.com/zero-based-budgeting [ accessed 14.11.2014 ] Accounting, fiscal and revenue enhancement, ( n.d. ) . Undertaking ( Program ) Budgets from: hypertext transfer protocol: //accounting-financial-tax.com/2009/08/what-is-zero-base-budgeting-zbb/ [ accessed 15.11.2014 ] Entire word: 1432 Zero-Based Budgeting Every organization goes through a point where it has to re-evaluate all its departments in an effort to see if they are all working to their full capacity or if there are any cuts and or reductions that can be made in an effort to save the organization some capital. Whenever anyone hears about reevaluations of department the first thing that comes to their mind is that they is a possibility that jobs may be deemed no longer necessary and therefore cut.Budgeting your expenses is an essential component in managing your internal controls and ensuring that your practice remains financially healthy. Zero-based budgeting dictates that supplier contracts be renegotiated for better rates, and rotating debt be transferred to a card with a lower interest rate. (Smith 2010). Now that I have been given the job to help Windsor Memorial Hospital achieve a zero based budget I must look at each and every department in an effort to see what is working and what is not.I have look at everything and see what can be cut in an effort to save the hospital some money. One of my first duties is to ask each department manager to outline the job duties of each one of their employees and to outline their overhead expenses including salaries and any reimbursable expenses that are being out for each member. Once I have all these I outlines I will sit down with each department and go over their findings with them and see if we can come up with ways where we can save money.My objective is to save as many jobs as possible as I know that all jobs are important in providing the best quality of service for all the patients that come through the doors of the hospital. In talking with the managers we will see if it is possible to utilize the employees we currently have to fill any possible job openings by realigning job duties among the staff. When it comes to the complex continuing care we have reevaluate and see if it I worth having this department opened or is the job paying more money just to k eep it opened and operating.We may look to see if there is any possibility that we can reduce the amount of money that the hospital is paying to keep this department opened. We may want to look into the possibility of working with another hospital and cost sharing the cost of the department in an effort to keep the department opened. We can speak to universities in the area that would be willing to use the complex continuing care unit as a learning center for their pre-med students. When Craig Brown took the reins as director of the materials organization at Intel Corp.in the spring of 2006, right away he had to make some tough decisions. In attacking that bureaucracy, Brown developed a plan, keeping two points always top of mind: Getting materials back to zero-based budgeting and developing and retaining the skilled purchasing professionals working in the organization. (Avery 2008). As mentioned in the article above it is also important to retrain the staff in order to teach them t o how to create a plan where they are ordering only as needed and are not purchasing and ordering items that are not needed.One of the rules being implemented going forward is that all reimbursement for any travel and expenses will need to be pre-approved by manager and then approved by a financial officer. One of the other proposals that I presented to the managers and will present to the board is a lower cost health insurance for all employees. At this time the employees are only paying 20% of their health care with my proposal they will have to pay 35% but will have the option to pick from several different plans as well as be able to have a health saving account that the company will contribute to depending on health care screenings completed.Sometimes regarded as the best method of prioritizing budgetary expenditures, Zero-Based Budgeting (ZBB) was introduced into China in the early 1990s and systematically adopted since the recent budgeting reform although it has experienced n umerous failures in many countries. Interestingly, ZBB has not disappeared but is deliberately applied to budgetary decisions of one type of expenditures under the Chinese style TBB. However, even in the field where ZBB is practiced, its achievements are at best moderate. (Ma, Bunch & Tang 2006).Zero based budgeting is not something that many employees want to hear because they feel that with this job elimination will soon follow. But that is not always the case in creating my zero based budgeting while I cannot promise that there will not be any job elimination I can assure all the employees that I will try my hardest to make sure that I can save as many jobs as possible. I will present all my findings as well as all the detailed department functions and all expenditures to the board for final determination.I will also present my findings of sharing the cost of the complex continuing care department with another hospital and or clinic as well as reaching out to universities in the area and offering the department to pre-med students in an effort to keep it open and at the same time reduce the high cost of running the department. While any changes to an organization can make the staff uneasy about their job security.In talking to the staff they are still a bit apprehensive and uneasy about what I will present to the board and are still worried whether or not their jobs will be on the cutting block. I have shared my findings with the managers of each department in the hopes that they could speak to their staff and calm some of their uneasiness. I have created a detailed report that outlines the current expenses that the hospital has, as well a detailed finding of my zero balance budget that will cut the expenses that the hospital has by more than 25% a year.

Whole Foods Value Chain

Team O Financial Performance Analysis of the financial performance Team O through periods 0-4, highlights the company performance scorecard, market share, brand contribution, the overall performance of the brand and the brands position in the BCG matrix. The two brands are SOLD and SONO and at the end of period 0, SOLD has 11. 9% market share and SONO has 5. 6%, SOLD has the largest market share In High Earners at 29. 9% and Pros at 19. 5%. SONO’s highest market share is in Buffs at 16. 2% and has 42. 4% in specialty stores, 39. % in department stores and 25. 2% in mass merchandisers. SONO was 42. 5% in specialty stores, 38. 1% in department stores and 24. 1% in mass merchandisers. Period O the market capitalization was 276,287 with a net contribution of 13,644. In period 1, SOLD has slightly decreased to 11. 8% while SONO’s overall market share grew to 6. 5%. SOLD’s High Earners decreased to 27. 6% while Pros increased to 21. 6%. SONO significantly increased in Buffs to 25. 6% as the goal for SONO is to become a cash cow in Buffs and withdraw from other markets.SOLD is focusing on High Earners and Pros to steadily increase market share while the market capitalization increases to 322,185. The net contribution for period 1 totaled 21,089 and the stock index rose to 1,166. The distribution coverage in period 1 was more wide spread as each brand had an overall mean of 34. 6%. In period 1, what was most successful for Team O was SONO and the increase in Buffs market share percentage. Period 2 The overall market share for Team O decreased to 11. 4% and 6. 3% for SOLD and SONO. However, team O captured the highest overall market share at 21. % over competitors. In SOLDs most important markets of High Earners and Pros there was a decrease to 23% and an increase to 24%. SOLD also has an increase in Buffs at 8% which the brand SONO continues to increase market share to 31% and remain non-existent in the other markets. The market capitalization rose to 363,906 ranking 3rd among competitors in the stock market. The company performance key indicators show team O with the largest number of retail sales each period. Team O in period 2 has a steady increase in the Buffs and is continuing to be a cash cow in the Buffs.Period 3 Market share for SOLD dramatically increased as efforts were set on increasing High Earners and spreading to gain market share in all markets. Buffs increased to 12. 8%, Singles increased to 4. 6%, Pros decreased to 17% and High Earners increased to 29. 6%. Resulting in an increase in net contribution to 38,594 and market capitalization at 434,919 gives Team O the highest stock index at 1,574 ranking first among its competitors. SONO continued to increase its market share in the Buffs at 37. 6% and becoming a cash cow.Success in period 3 is contributed to the diversification of SOLD increasing overall sales much greater than a steady increase in one or two market segments. Period 4 The overall market share for SOLD decreased as the decision to enter the Vodite market was made. SOLD’s Pros was significantly reduced to 6. 7%, High Earners to 23. 5%, Buffs 9. 1%, Singles 2. 3%. SONO continued to grow at 40. 1% in Buffs. Team O has expanded with VOLT to the vodite market capturing 100% of the Innovators, Adapters and Followers.The ability to do this was beneficial as no loan was incurred to cover the costs of a new product. The financial performance of Team O shows significant potential and establishing the market dominance with SONO in Buffs as well as being the first to enter the Vodite Market creating brand loyalty and capturing significant sales. SOLD continues to be a successful brand and contributes the majority of retail sales to Team O. Evaluating the BCG matrix SONO has become a cash cow, SOLD becomes a question mark and VOLT remains a question mark with high potential.

The Gates Of Hell essays

The Gates Of Hell essays Albert Einstein once said; True art is characterized by an irresistible urge in the creative artist (Art). This quote can define many artists over time, especially Auguste Rodin. Rodin was an incredibly talented sculptor of the nineteenth century. He created many well known pieces including The Thinker and The Kiss. Rodin was also commissioned to create The Gates of Hell in 1880. The Gates were one of Rodins most ambitious pieces. After twenty years of hard work, it was still not complete, but Rodin was finished. The Gates of Hell stand approximately twenty one feet high and are emotionally enveloping. The intensity and emotion that Rodin created within The Gates is one that shows what life is like after death. Rodin was born in 1840 in Paris. At the age of fourteen he was enrolled in the government Ecole Speciale de Dessin et de Mathematiques, a school for French industrial workers. Rodin applied to the famous Ecole des Beaux-Arts three times but was never accepted. He began working as a decorative sculptor after he graduated in 1857. As an assistant to Frances premier sculptor Belleuse, Rodin learned many skills. In 1875 Rodin visited Italy to study the work of Michelangelo. He was infatuated with Michelangelos unfinished sculptures; how the figures and their emotions seemed to emerge from the block. These ideas captured Rodins interests and were later applied to his work. Rodin returned to Paris two years later to exhibit his Age of Bronze sculpture. It was incredibly lifelike in that every muscle and movement of the body was captured. He was thrown into the spotlight, being falsely accused of casting a live model instead of creating his own work. On the other hand, there were people who loved the work by Rodin and were excited to see what else he would create. ...

Canadian legal system- restorative justice.

Canadian legal system- restorative justice. Restorative JusticeAssignment 7ABy: Karyn White12/22/2008Submitted to: Robert TuckerFor the Course in CriminologyA discussion of the use of Restorative Justice Programs and their role in the Canadian Justice System. ¢Ã‚€In discussing the effectiveness of Restorative Justice Programs as a method of reducing crime and the possibility of re-offence it is important to take note of the fact the crime rates in Canada are much higher than they were. In 1962 the crime rate in Canada was close to 2600/100,000 people and by 1997 the crime rate was reported at around 7000/100, 00 people. (www.statcan.gc.ca, 2008)Although there have been slight decreases in crime rates over the past few years they remain statistically higher than they were years ago. What is it that is wrong with society today as opposed to 45 years ago (where crime rates were less than half of what they are in 2007) in order for this to be happening? I believe that by applying the principles behind restorative justice we ca n come to a more clear understanding of the answer to that question.Canada - ON - City of Windsor Provincial Offences ...Restorative justice represents a return of the simple wisdom of viewing conflict as an opportunity for a community to learn and grow. It operates on the premise that conflict, even criminal conflict, inflicts harm, and therefore individuals must accept responsibility for repairing that harm. (sfu.ca/crj/ ,2008). It is seen as an alternative form of justice, in which the offender is obliged to make some form of restitution to the victim and by extension into the community (Winterdyk, 2007 pg.433) Restorative justice programs attempt to return the offender to a state of social responsibility as opposed to trying to enforce morals. With a sense of social responsibility and a stronger sense of community as well as the feeling of shame for his or her...

The Parthian Empire

The Parthian Empire Traditionally, the Parthian Empire (Arsacid Empire) lasted from 247 B.C. – A.D. 224. The starting date is the time of which the Parthians occupied the satrapy of the Seleucid Empire known as Parthia (modern Turkmenistan). The end date marks the start of the Sassanid Empire. The founder of the Parthian Empire is said to have been Arsaces of the tribe of the Parni (a semi-nomadic steppe people), for which reason the Parthian era is also referred to as the Arsacid. There is a debate over the founding date. The high date sets the founding between 261 and 246 B.C., while the low date sets the founding between c. 240/39 and c. 237 B.C. The Extent of the Empire While the Parthian Empire started as the Parthian satrapy, it expanded and diversified. Eventually, it extended from the Euphrates to the Indus Rivers, covering Iran, Iraq, and most of Afghanistan. Although it came to embrace most of the territory occupied by the Seleucid monarchs, the Parthians never conquered Syria. The capital of the Parthian Empire was originally Arsak, but it later moved to Ctesiphon. A Sassanid prince from Fars (Persis, in southern Iran), rebelled against the last Parthian king, the Arsacid Artabanus V, thereby starting the Sassanid era. Parthian Literature In Looking East from the Classical World: Colonialism, Culture, and Trade from Alexander the Great to Shapur I, Fergus Millar says that no literature in an Iranian language survives from the entire Parthian period. He adds that there is documentation from the Parthian period, but its scanty and mostly in Greek. Government The government of the Parthian Empire has been described as an unstable, decentralized political system, but also a step in the direction of the first highly integrated, bureaucratically complex empires in Southwest Asia [Wenke]. It was, for much of its existence, a coalition of vassal states with tense relationships among rival ethnic groups. It was also subject to outside pressure from Kushans, Arabs, Romans, and others. Sources Josef Wiesehà ¶fer Parthia, Parthian empire The Oxford Companion to Classical Civilization. Ed. Simon Hornblower and Antony Spawforth. Oxford University Press, 1998. Elymeans, Parthians, and the Evolution of Empires in Southwestern Iran, Robert J. Wenke; Journal of the American Oriental Society (1981), pp. 303-315. Looking East from the Classical World: Colonialism, Culture, and Trade from Alexander the Great to Shapur I, by Fergus Millar; The International History Review (1998), pp. 507-531. The Date of the Secession of Parthia from the Seleucid Kingdom, by Kai Brodersen; Historia: Zeitschrift fà ¼r Alte Geschichte (1986), pp. 378-381

Financial Management Term Paper Example | Topics and Well Written Essays - 2000 words

Financial Management - Term Paper Example It is considered as the largest and leading company that brews perfected beer with a volume of 49.2% share of beer sales (Anheuser-Busch InBev, 2008). In terms of volume of brewing it was considered as third in the world’s leading distributors of beer before it was acquired by In Bev in 2008 July and the merger was completed in November 2008. Based on revenue it was considered as the top notch in its industry. It operates 12 branches (breweries) in the United States of America and 17 other branches overseas. The products best known are Budweiser, Busch, Michelob, Natural light, Ice. In Bev: In Bev on the other hand was the second largest brewery in the world. While its core business is beer, it also deals in the soft drink market as well. It is a merger of Am Bev and Interbrew. Its headquarters was in Leuven, Belgium where Anheuser Busch is now located. It had approximately 86,000 employees who managed the day to day activities like production and supply of finished products ( beer and soft drinks) around the world (Anheuser-Busch InBev, 2008). Before the merger with Am Bev, Interbrew was the third largest brewing company in the world by volume. In Bev had many operations in over 30 countries across the Americas, Europe and Asia pacific. Description of merger The merger between Anheuser Busch and In Bev created the global leader in beer followed by SAB Miller Company. It is also one of the top five Companies that produce commercial products like beer. In Bev was the second largest brewer in the world while Anheuser Busch was the largest brewing Company in the United States of America and also had the highest revenue or returns in investment (Anheuser-Busch InBev, 2008). Type of merger: This merger is a vertical merger or acquisition due to the fact that Anheuser Busch and In Bev are in the same level of operation, production and organization. The two companies also produce similar products like Budweiser. In Bev and Anheuser Busch were in the same product ion level because they produced many beer types resulting in a vertical merger. The merger amid the 2 organizations is a responsive merger, acquisition, takeover because it has a situation in which a target company’s management and board of directors agree to be acquired by another Company. In this case In Bev taking over Anheuser Busch. Here a public offer of stock or cash was made by In Bev and the board of directors of Anheuser Busch Company was publicly approved the buyout terms. They may be subject to regulatory or shareholder approval. Competitors: The major competitors that Anheuser Busch in Bev faces are the following: - Carlsberg, Heineken, SAB Miller Carlsberg is the fourth largest Company in the world. They have major markets in Asia and Europe with Northern Europe acquiring the largest markets of beers produced by Carlsberg. Their products or brands are many, over 500 to be exact (McShane, Sampson and Restrepo, 2008). Carlsberg does not only deal with beer alone, it also deals in soft drinks like coca cola whose production occurs in Denmark and Finland. Beer and soft drinks are the major products that help Carlsberg in achieving their desired returns in investment thereby realizing their initial objectives. These are some of the factors that help this thriving Company attain the fourth position when it comes to production and supply of products around. Brands differ significantly in

Strategic Management Essay Example | Topics and Well Written Essays - 750 words - 1

Strategic Management - Essay Example In this paper, the analysis of strategic management will revolve around a small family business dealing with laundry appliances repair with only two employees precisely a father working as the technician and his son handling matters to do with administration. Strategic management comes along with many benefits to a business. Thomas and David Hunger maintain that firms that incorporate strategic management into their daily activities always â€Å"outperform† those firms that do not. When a firm enlarges, it becomes hard for it to afford following intuitive strategies. This is because, upon enlargement, a firm’s environment or its layers of management changes substantially (Wheelen & Hunger, 2011). However, as working environment continues to be more complex due to ever changing systems of management in the world, today, firms are applying strategic management as a form of cooperating and making the environment more manageable. Strategic management is beneficial to a firm mainly because it facilitates collection of information and formulation of policies. The laundry firm can use strategic management policies to gather information from external and internal environment which in turn corporate formulation of variables in the firm. With globalization comes broad market. In this case, globalization enables a firm identify general forces that include societal and natural environments that make it easier to identify different clusters of competitors and customers making it easier to combine a sustainable environment. It is necessary for a firm to have the suitable information in order to find ways in which it can fulfill its goals via its corporate mission (Wheelen & Hunger, 2011). Globalization makes it possible for a firm to have structural, resourceful, and cultural information, which is important for a firm to enhance its corporate strategy. In addition, strategic management enables a firm to implement the set policies and formulate the gathered info rmation, which facilitates assessment of its capabilities. This in turn draws measures that enable the firm to satisfy its clientele by improving its distribution of products and services via an organized system. The impacts of environmental sustainability to a business are many. For the laundry firm to achieve the best in its line of business, it must set in place models that play an important role towards creation a sustainable environment. This shows that businesses should have models that contribute to a healthy and safe environment. According to environmental experts, a safe environment provides a platform for economic growth and business sustainable development. In order to get benefits that come along with sustained environment, a firm must address environmental issues such as pollution. As such, this laundry firm should seek to address environmental problems in order to enjoy innovative solutions brought by new market opportunities (Wheelen & Hunger, 2011). In addressing com ponents involved in the environmental scanning and industry analysis process, analysts revolve around environmental assessment, forecasting, and monitoring. In this case, environmental scanning deals with macro environment, which consists of competitors, industries, clients, markets, and companies. Environmental scanning thus interprets technological and economic events as well as political trends that are influential to a

Antiperspirants and Deodorant Market and Evolution Research Paper

Antiperspirants and Deodorant Market and Evolution - Research Paper Example As the paper stresses it is natural for a healthy human being to sweat. Amount of perspiration depends on weather conditions, personal health, hygiene and physical activity level. Sweat is wet and odorless in its pure form. It only stinks after reacting with the bacteria on human skin .Sweat regulates body temperature irrespective of the outside weather conditions. Be it topical or below zero outside, human body temperature remains constant. While exposed to extreme heat, sweat glands excrete a watery substance that cools down the body. It is a thermoregulatory mechanism which makes the body capable of adapting to hottest climates. This discussion declares that the apocrine glands are comparatively large but only in size as in number they are few. These glands end in the follicles of body hair and become active after puberty. Apocrine glands respond to hormonal secretions and get triggered by emotional factors, for instance, stress and sexual excitement. Sweat produced from both types of glands is odorless. The main culprits for odor are bacteria which ferment on sweat. By products of this activity generate odor, therefore, daily shower is suggested to be a natural way to avoid odor. However, despite the fact that both eccrine sweat and apocrine sweat are nearly 99 per cent water, apocrine sweat contains some oil which is more favorable for bacterial growth. Therefore, apocrine sweat is prime reason for sweat odor while eccrine sweat makes us wet. (Blumenthal). External Factors Other than sweat glands, some external factors also contribute to sweating, such as hot weather, some particular food, smoking or drug use. According to studies by the Gillette Co, foods including garlic, onions, hot spices and beer have been detected to contribute in more body odor. Contrary to yesteryears’ belief about fighting sweat, regular bathing and killing or inhibiting bacterial growth by deodorants and antiperspirants is frequently suggested today. The approach is far improved and effective as compared to masking the odor by perfumes in past (Blumenthal). Deodorants and antiperspirants Antiperspirants are available in sprays, creams, pads, powders,

The Origin and Effect of the CERES Principles Essay

The Origin and Effect of the CERES Principles - Essay Example As a result, came the moment when the world realized what powerful structures the industrial era had created – corporations. Surely, large companies have never been the greatest evil of the society. Nevertheless, their influence over people’s behavior (buying habits), government regulations and even environment has risen drastically in the latest decades due to the expansion of globalization processes. For that reason the level of social responsibility each company overtakes in the contemporary business environment is now greatly influencing both the society and the company’s success. Similarly, it is very likely that even if the Exxon Valdez wreck had not occurred, CERES would exist today as an organization that helps companies in developing their environment protection strategies and corporate social responsibility principles. Of course, the wreck became a point at which the importance of protecting the environment raised due to the high publicity of the Exxon Valdez incident. Nevertheless, in addition to such cases as Exxon Valdez wreck, the natural development trends of the global business environment would have lead to the creation of an organization like CERES. Furthermore it is worth noting that greater public concern about companies’ being responsible in their business practices has already lead to the development of the corporate responsibility concept and such international documents as, for instance, the Global Compact of United Nations Organization. In particular, this document â€Å"asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labor standards, the environment and anti-corruption† (United Nations Global Compact). Another attempt to force companies to conduct business in an environmentally friendly manner is the Copenhagen Accord of 2009. It was a result of the Climate Summit, which was the fifteenth conference of the global govern ments. This agreement was meant to be reached by the world countries in order to reduce human impact on the environment (United Nations 1). However, though the document acknowledges the fact that the temperature rise should be kept below 2 degrees Celsius with the help of emissions reduction, no specific goals were set for the countries to comply with the objective. Another point was that developing countries that are influenced by climate change most of all were to receive financial aid form developed countries in the period of 2010-2012 for adapting to the climate change (United Nations 3). The Accord also encourages the practice of paying developing countries for reducing emissions from deforestation and degradation (Vidal, Stratton, and Goldenberg 2009). It should also be noted that previously developed proposals that called the countries for limiting temperature rises to 1.5 degrees Celsius and reducing carbon dioxide emissions by 80% by 2050 were abandoned. In addition, the in teresting fact is that the United States, who refused to sign the Kyoto Protocol of 1997, was the major contributor to and strongest supporter of the Copenhagen Accord. The country’s motive for objecting to sign documents like the Kyoto Protocol, the purpose of which is worldwide reduction of greenhouse gas emission, is, most likely economic. The USA is one of the largest environment polluters in the world because of the high level of economy

PEST Analysis of Aviva PLC Essay Example | Topics and Well Written Essays - 2000 words

PEST Analysis of Aviva PLC - Essay Example Aviva Plc is the sixth largest insurance group in the entire world. It has a huge customer base of 44.5 million, and provides its clients with insurance products and various savings and investment schemes. The major part of the firm’s business comes from Europe where it is one of the pioneering life and general insurance companies. Aviva has developed an elaborate distribution network in the European market to serve over 18 million customers in the continent. The European Union is the world’s largest market for life insurance and pension products and Aviva Plc has harnessed this opportunity to gain a strong foothold over there. The company also happens to be the largest insurance provider in the United Kingdom (Aviva, 2011). Aviva specializes in providing life insurance, general insurance and various pension schemes to its customers. In Europe, it is a leading provider of various life insurance, general insurance and health insurance products. In recent years, the compa ny has rationalized its product offerings in this market and is attempting to merge all its business in the continent under a single head. In 2010, Aviva has identified significant opportunities in the European pension market. The 27 European Union countries including Russian and Turkey had an annual gap between pension and savings of about â‚ ¬ 2.4 trillion. ... Customers can purchase these products either directly from Aviva, from any of its corporate partners or from any of its intermediary firms. In 2010, Aviva’s life insurance and general insurance business reported a strong performance in the UK market. The sales of its life insurance products increased by 19 per cent from the previous year to ?11,846 million. This resulted in a record level of operating profits of about ? 850 million, which was 26 per cent higher than the corresponding 2009 figures. In the general insurance business, Aviva UK witnessed an increase in its sales during each succeeding quarter of 2010. The profits in this sector reported an annual increase of 8 per cent to â‚ ¬ 579 million. Aviva UK, also merged many of its life insurance and general insurance schemes together to provide the customers with innovative products during the year 2010. (Business Summary, 2011) The main share of revenues of Aviva plc is derived from its life and general insurance busi ness and its asset management services. The European Union especially UK comprises the world’s largest markets for life insurance and pension services. Aviva has harnessed this opportunity to emerge as the largest insurance company in UK and the second largest provider in Europe. The company has devised its insurance schemes in such a way so as to simultaneously cater to the interests of the customers and the firm itself. In 2010, UK’s insurance intermediary organizations voted Aviva as the region’s leading provider of life, general and health insurance policies. The firm has also directed its efforts in expanding its main business activities in the North American countries – USA and Canada. The firm has tried to leverage the advantages of

The Origin and Effect of the CERES Principles Essay

The Origin and Effect of the CERES Principles - Essay Example As a result, came the moment when the world realized what powerful structures the industrial era had created – corporations. Surely, large companies have never been the greatest evil of the society. Nevertheless, their influence over people’s behavior (buying habits), government regulations and even environment has risen drastically in the latest decades due to the expansion of globalization processes. For that reason the level of social responsibility each company overtakes in the contemporary business environment is now greatly influencing both the society and the company’s success. Similarly, it is very likely that even if the Exxon Valdez wreck had not occurred, CERES would exist today as an organization that helps companies in developing their environment protection strategies and corporate social responsibility principles. Of course, the wreck became a point at which the importance of protecting the environment raised due to the high publicity of the Exxon Valdez incident. Nevertheless, in addition to such cases as Exxon Valdez wreck, the natural development trends of the global business environment would have lead to the creation of an organization like CERES. Furthermore it is worth noting that greater public concern about companies’ being responsible in their business practices has already lead to the development of the corporate responsibility concept and such international documents as, for instance, the Global Compact of United Nations Organization. In particular, this document â€Å"asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labor standards, the environment and anti-corruption† (United Nations Global Compact). Another attempt to force companies to conduct business in an environmentally friendly manner is the Copenhagen Accord of 2009. It was a result of the Climate Summit, which was the fifteenth conference of the global govern ments. This agreement was meant to be reached by the world countries in order to reduce human impact on the environment (United Nations 1). However, though the document acknowledges the fact that the temperature rise should be kept below 2 degrees Celsius with the help of emissions reduction, no specific goals were set for the countries to comply with the objective. Another point was that developing countries that are influenced by climate change most of all were to receive financial aid form developed countries in the period of 2010-2012 for adapting to the climate change (United Nations 3). The Accord also encourages the practice of paying developing countries for reducing emissions from deforestation and degradation (Vidal, Stratton, and Goldenberg 2009). It should also be noted that previously developed proposals that called the countries for limiting temperature rises to 1.5 degrees Celsius and reducing carbon dioxide emissions by 80% by 2050 were abandoned. In addition, the in teresting fact is that the United States, who refused to sign the Kyoto Protocol of 1997, was the major contributor to and strongest supporter of the Copenhagen Accord. The country’s motive for objecting to sign documents like the Kyoto Protocol, the purpose of which is worldwide reduction of greenhouse gas emission, is, most likely economic. The USA is one of the largest environment polluters in the world because of the high level of economy

Information Technology in Contemporary Business Annotated Bibliography

Information Technology in Contemporary Business - Annotated Bibliography Example Coulson-Thomas believes: 'IT departments need to rise above equipping people to use standard corporate technologies and help key workgroups such as bid teams working on critical tasks to be more effective. Rather than spend money on infrastructure IT directors need to become more involved in revenue earning activities.' But the major problem comes out to summarizing the cost within all the departments in an organization. It comes to the count of what should be the different cost for an individual department within an organization. For any individual IT department, it requires the setup cost, with other departments as because all the departments need to make proper links with the IT department. If an organization is organized with five or six departments, then, there must have an IT department that will serve for the IT department. ...The costs of such service departments must be allocated to the production departments, which in turn will allocate them to the product. It is known that one can view the cost allocation problem as a fascinating Markov process, with the production departments as the absorbing states and the service departments as the transient states. Using Markov analysis, we will show that this yields additional insight into the underlying concept of reciprocal service department cost allocation by proving that the "full service" department costs can be used to determine the price that should be paid to an external supplier of the same service currently supplied by the service department."So far, it has a similarity with a quote that should be in mind that if the whole cost is not owed within all the departments, as per its self usages of the department by prefix schedule of target budget, they must take all the advantages of the benefits of IT resources. These sounds can be found here if we consider another example for an IT department, we can say, "Any organization can develop an IT department, getting profit developing IT department is the hard part." Nevertheless, operating a profitable IT department can be achieved with appropriate management routines in place. Determining your Cost of Goods Sold (COGS), tracking purchases and sales, and attending to the spending habits of your customers are the fundamentals of every successful IT departments.

A day in the life of a bike warehouse worker Essay Example for Free

A day in the life of a bike warehouse worker Essay It was six oclock and for the first time in about two years I woke up before my alarm went off. My curtains were not pulled right together so a stream of light was shining on my face. I sat up in bed and looked on my calendar to see what day it was; it was Monday, the first day of my work experience. I got myself out of bed and headed for the shower. The house was so still, every little sound I made seemed to be ten times loader than what it actually was. Like every other morning I had a wash and got changed then crept down stairs to the kitchen. I took a quick glance at the big clock on the wall but the batteries which were destined to run out had finally run flat. I had to find my phone, which Im constantly forgetting where I put, to know the time. I had put it by the cookery books so that I would see it and not panic like every other morning. It was six forty-five which left me fifteen minutes to grab some breakfast before leaving to do my normal everyday paper round. I took a look in the cupboard to find there was nothing worth having, probably a shopping day knowing my luck. I skipped breakfast and jumped on my bike and headed for the local paper shop. I knew that I had to be at the bike shop for my work experience at about nine oclock so I figured that I had to hurry up on doing my paper round. When I got the the shop, the shop owner, Paul, was waiting at the door with some bad news. The shop has two paper rounds one which I do and another which my friend David did. He gave me the good news that David had quit with no warning. Usually I would be excited about this because if I did both the paper rounds I would be paid double but the only downfall was I wasnt sure if I had enough time to do both the paper rounds. Anyway I put all the papers in the bag and did the most strenuous exercise I had done in a long time. It paid off though as that morning I witnessed the most beautiful sun rise. I finally got home, tired out and surprisingly quite cold. Looking at the clock on my mobile phone I had realised that I had been out delivering papers for one and a half hours, allowing me just thirty minutes to get ready and get the the other side of town. I quickly got changed into some suitable clothes and then made my way towards the town. On the way to the town I kept asking myself questions, what will I have to do? Will I be able to do the things which tom did last week? I wonder what the staff will be like? I managed to get myself really nervous about the whole idea of working with people I dont know and if I was really up for the job. I arrived at the shop ten minutes early so that I could introduce myself and get to know the staff a little bit. The main person in charge, Luke, set me off to do my first task which he said was the most important task off all. I was expecting to hear something to do with the bikes but instead he said I dont suppose you can run up to Aldays and grab use a pint of semi skimmed milk. It was when he told me to get the milk when I realised they were going to take advantage of me and make me do all the things which they didnt want to. Anyway, I was there to experience work and if thats what higher ranked staff do, and then thats what I was there to experience. When I came back to the shop with the milk Luke told me to follow him to the kitchen. The kitchen was a small, dirty and smelly room which was mainly used to store bike parts. The only thing that made it a kitchen was the fact that it had a small, filthy sink, a kettle and a bag of tea bags which my best mate Tom had brought in the previous week. In the kitchen were a number of large boxes which contained bikes. Luke pulled one into the middle of the room and asked me to build it in the kitchen whilst he went back to the till to repair some other bikes. This was the part I was dreading most of all, I had never built a bike from flat pack before and there I was expected to know how it all goes together. I opened the box and took a peep inside. The only way of describing what the bike looked like then was simply a box of bits. I took out everything and placed them in an orderly fashion across the floor. I was expecting to find a small booklet or leaflet with instructions on how to build the bike but there wasnt any. I didnt want the staff to know that I came to the bike shop not knowing how to build a bike so I decided to have a go at making it how I thought it went. The first main problem I came across was the packaging. Everything was really well packaged and taped up and all I had to remove it with was a small pair of very blunt scissors. I took a look at the parts in front of me and got cracking with making the bike. Most of the building was pure common sense but there were a few occasions where I had to take apart previous parts so that I could correct myself in places. Once I had finished making the bike I had to adjust the brakes and make sure that everything was in good order. There were lots of bare cable ends which I had to cover but unfortunately I caught the end of my finger on one of the thin cable ends leaving me in agony. I stood up, took a step back and looked at what I had done. I had made my first ever bike from scratch and I must admit, I thought I had done a very good job of it. I went out to find one of the staff members so that they could see if I had done everything ok. A young worker there called Steve came into the kitchen to check over the bike. I was biting my nails and gritting my teeth, hoping that I had done the job correctly. He was being very precise looking at every adjustment and checking that every screw was tight. He stopped what he was doing, leant the bike against the wall and said Well done, you can carry on with the rest of the bikes in the store room. I was so over the moon. I had taught myself a new skill which in the future could help me out. Now that my confidence was a lot better, I found I could make the bikes a lot quicker. I made a further three bikes each a bit different before Luke came into the room and told me that I deserved a lunch break. I took advantage of my break by jogging home and getting myself some lunch. When I came back to the shop I wanted to get straight back into it but there were other jobs that needed to be done. During my break a small lorry fully of ready and unready made bikes had arrived at the shop. With help from John, another employee of the shop, I removed all the bikes and boxes from the lorry to one of two cellars. Once the bikes were all down in the cellar I had the job of sorting them all out into different groups. I didnt really enjoy this much as the cellar was a dark, gloomy room with a not to pleasant smell in the air. I was happy to get out of there once I had finished sorting the bikes out. There was enough time to make a couple more bikes so I was sent back to the kitchen with my tools to make some more bikes from the store room. The radio wasnt too good as the aerial had broken off, so I found myself a tape which I could work to. The time really flew as my mind was in working mode. At three oclock Luke came back into the kitchen and checked all the bikes I had done. He was very impressed with what I had done and told me that I could go home. The room looked like a bomb had been set off in it so I cleared away all the tools I was using, put all the bikes I had built into stock and washed up the cups. I was now ready to go home. On the way out Luke said thank you for the work and said that he would discount me if I needed to buy any thing for my bike. I said good bye and went home. On the way home I thought about how my day had been. I realised that although I didnt originally want to work at the bike shop, it wasnt as bad as what I was expecting. In life youre not always going to get the jobs you want so I decided that for the rest of the week I was going to make the most of the experience.

Case Study Analysis Cost Of Capital At Ameritrade Finance Essay

Case Study Analysis Cost Of Capital At Ameritrade Finance Essay Capital Asset Pricing Model is a model that describes the relationship between risk and expected return  and  that is used in the pricing of risky securities. Description: Capital Asset Pricing Model (CAPM) The general idea behind CAPM is that investors need to be compensated in two ways: time value of money  and risk. The time value of money is represented by the risk-free(rf) rate  in the formula and compensates the investors for placing money in any investment over a period of time. The other half of the formula represents risk and calculates the amount of compensation the investor needs for taking on  additional risk. This is calculated by taking a risk measure (beta)  that compares the returns of the asset to the market over a period of time and to the market premium (Rm-rf). The CAPM says that the expected return of a security or a portfolio equals the rate on a risk-free security plus a risk premium. If this expected return does not meet or beat the required return, then the investment should not be undertaken. The security market line plots the results of the CAPM for all different risks (betas). Using the CAPM model  and the following assumptions, we can compute the expected return of a stock in this CAPM example: if the risk-free rate is  3%, the beta (risk measure) of the stock is 2 and the expected market return over the period is 10%, the stock is expected to return 17% (3%+2(10%-3%)). CAPM has a lot of important consequences. For one thing it turns finding the efficient frontier into a doable task, because you only have to calculate the co-variances of every pair of classes, instead of every pair of everything. Another consequence is that CAPM implies that investing in individual stocks is pointless, because you can duplicate the reward and risk characteristics of any security just by using the right mix of cash with the appropriate asset class. This is why followers of MPT avoid stocks, and instead build portfolios out of low cost index funds. Cap-M looks at risk and rates of return and compares them to the overall stock market. If you use CAPM you have to assume that most investors want to avoid risk, (risk averse), and those who do take risks, expect to be rewarded. It also assumes that investors are price takers who cant influence the price of assets or markets. With CAPM you assume that there are no transactional costs or taxation and assets and securities are divisible into small little packets. CAPM assumes that investors are not limited in their borrowing and lending under the risk free rate of interest. How to Calculate the Cost of Equity CAPM The cost of equity is the amount of compensation an investor requires to invest in an equity investment. The cost of equity is estimable is several ways, including the capital asset pricing model (CAPM). The formula for calculating the cost of equity using CAPM is the risk-free rate plus beta times the market risk premium. Beta compares the risk of the asset to the market, so it is a risk that, even with diversification, will not go away. As an example, a company has a beta of 0.9, the risk-free rate is 1 percent and the expected return on the equity investment is 4 percent. Instructions Determine the market risk premium. The market risk premium equals the expected return minus the risk-free rate. The risk-free rate of return is usually the United States three-month Treasury bill rate. In our example, 4 percent minus 1 percent equals 3 percent. Multiply the market risk premium by beta. In our example, 3 percent times 0.9 equals 0.027. Add the risk-free rate to the number calculated in Step 2 to determine the cost of equity. In our example, 0.027 plus 0.01 equals a cost of equity of 0.037 or 3.7 percent. . Combining the risk-free asset and the market portfolio gives the portfolio frontier. The risk of an individual asset is characterized by its co-variability with the market portfolio. The part of the risk that is correlated with the market portfolio, the systematic risk, cannot be diversified away. Bearing systematic risk needs to be rewarded. The part of an assets risk that is not correlated with the market portfolio, the non-systematic risk, can be diversified away by holding a frontier portfolio. Bearing non-systematic risk need not be rewarded. For any asset i: where We thus have an asset pricing model the CAPM. Example. Suppose that CAPM holds. The expected market return is 14% and T-bill rate is 5%. What should be the expected return on a stock with ÃŽÂ ² = 0? Answer: Same as the risk-free rate, 5%. à ¢Ã¢â€š ¬Ã‚ ¢ The stock may have significant uncertainty in its return. à ¢Ã¢â€š ¬Ã‚ ¢ This uncertainty is uncorrelated with the market return. What should be the expected return on a stock with ÃŽÂ ² = 1? Answer: The same as the market return, 14%. What should be the expected return on a portfolio made up of 50% T-bills and 50% market portfolio? Answer: the expected return should be  ¯r = (0.5)(0.05)+(0.5)(0.14) = 9.5%. Multifactor CAPM In CAPM, investors care about returns on their investments over the next short horizon they follow myopic investment strategies. In practice, however: à ¢Ã¢â€š ¬Ã‚ ¢ Investors do invest over long horizons à ¢Ã¢â€š ¬Ã‚ ¢ Investment opportunities do change over time. In equilibrium, an assets premium is given by a multi-factor CAPM : Limitations of CAPM Based on highly restrictive assumptions i.e. no tax, transaction costs etc Serious doubts about its testability. Market factor is not the sole factor influencing stock returns. Summary of CAPM CAPM is attractive: 1. It is simple and sensible: is built on modern portfolio theory distinguishes systematic risk and non-systematic risk provides a simple pricing model. 2. It is relatively easy to implement. CAPM is controversial: 1. It is difficult to test: difficult to identify the market portfolio difficult to estimate returns and betas. 2. Empirical evidence is mixed. 3. Alternative pricing models might do better. Multi-factor CAPM. Consumption CAPM (C-CAPM). APT. Other Methods for calculating cost of equity There are 3 methods which are mainly used for calculating Cost of equity other than CAPM Arbitrage Pricing theory 3 factor method Dividend Growth Method Arbitrage Pricing Theory APT assumes that returns on securities are generated by number of industry-wide and market-wide factors. Correlation between a pair of securities occurs when these securities are affected by the SAME factor or factors. Return on any stock traded in a financial market consists of two parts. R = Re + U Where, R = return on any stock Re = Expected or Normal return (depends on all of information shareholders have on the stock for next month.) U = Uncertain or Risky return (this comes from information revealed in the month) U = m +  Ã‚ ¥Ã¢â€š ¬Ã‚   Where, m = Systematic risk or market risk (it influences all assets of market)  Ã‚ ¥Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚ ½ Unsystematic risk (it affects single asset or small group interrelated of assets, it is specific to company) The capital asset pricing theory begins with an analysis of how investors construct efficient portfolios. But in real life scenarios, it isnt necessary that every time portfolios will be efficient. It is developed by Stephen Ross. Moreover, the return is assumed to obey the following simple relationship: Where b1, b2 and b3 are sensitivities associated with factor 1, factor 2 and factor 3 which can be interest rate or other price factors. Noise =  Ã‚ ¥ is event unique to the company. APT states that the expected risk premium on a stock should depend on the expected risk premium associated with each factor and the stocks sensitivity to each of the factors. Thus, formula modifies to: Where, rf = risk free rate is subtracted from each return to give risk premium associated from each factor. Analysis of the formula: If we put value for b = 0, the expected risk premium will be zero. It will create a diversified portfolio which has zero sensitivity to macroeconomic factor which offers risk free rate of interest. Portfolio offered a higher return, investors could make a risk-free (or arbitrage) profit by borrowing to buy the portfolio. If it offered a lower return, you could make an arbitrage profit by running the strategy in reverse; in other words, you would sell the portfolio and invest the proceeds in U.S. Treasury bills. Consider portfolio A and B are sensitive to factor 1, A is twice sensitive to factor1 as then portfolio Therefore, if you divided your money equally between U.S. Treasury bills and portfolio A, combined portfolio would have exactly the same sensitivity to factor 1 as portfolio B and would offer the same risk premium. Steps of Arbitrage Pricing Theory The various steps during Arbitrage Pricing Theory can be stated as: Identify the macroeconomic factors: APT doesnt indicate which factors are to be considered. But there are 6 principle factors which are: Yield spread interest rate, exchange rate, GNP inflation portion of the market return Estimate the risk premium of each factor Estimate the factor sensitivity Net Return = risk free interest rate + expected risk premium 3 factor model It is a special case of APT It considers 3 major factors called as market factor size factor book to market factor. There is also evidence that these factors are related to company profitability and therefore may be picking up risk factors that are left out of the simple CAPM. The practical application of this model is to estimate the betas for the three factors and then use them to predict where returns should fall, much like the CAPM. It was researched by Fama and French. Dividend Growth Method Dividend Discount Model. It is useful when the growth rate of dividend is forecasted constantly. The present value of stocks is given as Where, r = discount rate, g = rate of growth, DIV = annual cash payment, This formula can be used when growth rate g When growth rate = rate of return, the present value becomes infinite. For perpetual growth, r > g. Growing perpetuity formula, Where,P0 in terms of next years expected dividend DIV g = the projected growth trend r = expected rate of return on other securities of comparable risk. We can estimate cost of equity from this formula by re-arranging. Lets understand by an example: Suppose that your company is expected to pay a dividend of $1.50 per share next year. There has been a steady growth in dividends of 5.1% per year and the market expects that to continue. The current price is $25. Then cost of equity r is given as: When the growth rate isnt constant but varies from year to year, then average can be calculated. Growth rate for current year is calculated using the formula: For example, Year Dividend (in Rs. Million) Percent change (g) 2000 1.23 2001 1.30 (1.30 1.23) / 1.23 = 5.7% 2002 1.36 (1.36 1.30) / 1.30 = 4.6% 2003 1.43 (1.43 1.36) / 1.36 = 5.1% 2004 1.50 (1.50 1.43) / 1.43 = 4.9% Growth rate is average of all percent changes and equals This model serves the major advantage of being easy to understand and use but has a major drawback total dependence on dividend and it cannot be used where company isnt paying any dividend. Also, it doesnot consider any risk and is highly sensitive to the change in growth rate. Estimating Beta Beta is an important term in Capital Asset Pricing Method. Beta is the non-diversified risk of holding a single stock. But it turns out that companies in similar markets have similar risks. Interpretation of beta Beta = 1,it matches market portfolio Beta > 1, higher risk. Beta Methods for calculation of beta It is calculated as: beta_{i} = frac {mathrm{Cov}(R_i,R_m)}{mathrm{Var}(R_m)} Where, Ri = rate of return of asset and Rm is rate of return of market. Thus, beta is dependent on regression analysis. Beta is found by statistical analysis of individual, daily share price returns, in comparison with the markets daily returns over precisely the same period. We need to gather a lengthy time-series of observations for the market return and the individual asset return. Then required co-variances and variances can be calculated. If coefficient of correlation P is known then The alternative method of calculating beta is (by rearranging terms from CAPM equation): In practice, an additional constant alpha is also added in the above equation which tells how much better (or worse) the funds did than what the CAPM predicted. Alpha is a risk-adjusted measure of the so-called active return on an investment. Here, E(Ri) Rf is estimated return on asset portfolios and E(Rm) Rf is estimated return on market index. In order to check that there are no serious violations of the linear regression model assumptions. The slope of the fitted line from the linear least-squares calculation is the estimated Beta. The vertical intercept of this curve is called as the alpha. For a portfolio of assets, we have the relation: Given that beta is a linear risk measure, the beta of a portfolio of assets as simply the weighted average of all the individual betas that comprise the portfolio. HANU Estimate of Risk Premium We dont have reliable estimate where stock market will move in future. So we are using long term historical spreadsheets for estimate large stock than small stocks because they are more closer to proper estimate of market We are considering all values after Second World War because after that laws became stable in U.S. Risk premium = Rm Rf U.S. government securities rate = 6.69% (20 years bond, Exhibit 3) Average annual return for Large company stocks = 14 % (Exhibit 3) So Risk premium for Ameritrade = 14 % 6.69 % =7.31 %

A Passage to India:An Examination of the Work in a Historical Context :: essays research papers

A Passage to India by Edward Morgan Forster is truly one of the great books of it’s time. Written in an era when the world was more romantic, yet substantially less civil to the unwestern world than it is today; E. M. Forster opened the eyes of his fellow countrymen and the world by showing them the truth about British Colonialism. The novel aids greatly in the ability to interpret events of the time as well as understand the differences between the social discourse of then and now.   Ã‚  Ã‚  Ã‚  Ã‚  To fully understand A Passage to India and its cultural and historical significance one must first understand the world in which it was written, and the man who wrote it. Forster published the novel in 1924 England, a place much different than the England of today. At the time the sun still didn’t set on the British empire and there were still serious societal influences form the Victorian Era.   Ã‚  Ã‚  Ã‚  Ã‚  Forster was born on January 1st 1879; his family was part of London's upper-middle class. At the age of two Forster's father died, leaving only his mother to raise him. Their relationship was very strong and stayed that way up until her death in 1945. Forster was educated in Kent up until 1897, and then went on to King’s College at Cambridge.   Ã‚  Ã‚  Ã‚  Ã‚  Immediately after his graduation from the University in 1901, Forster began to travel around the world, spending much of his time in Italy, Greece, and Germany. His first novel, Where Angels Fear to Tread was published in 1905 and was received with good reviews. By the publication of his fourth novel, Howard's End in 1910 Forster had become a member of what was known in writing circles as the Bloomsbury Group, a distinguished group of writers including Virginia Wolf, John Maynard Keynes, and many others. In 1912 Forster made his first visit to India; and in 1021 after having served for the Red Cross in Egypt during world war one, he returned to India to be the private secretary to the Maharajah of Dewas. Forster based A Passage to India on the experiences he had while working for the Maharajah.   Ã‚  Ã‚  Ã‚  Ã‚  The world of Colonial India was much different than that of England at the time, or of the India of today. The country was ruled by the British military. British patriots and ex-patriots living in India had a culture all there own; they were not at all oppressors but did have a completely different culture than the indigenous peoples of the country.

Marina Gana Vida Essay

PROBLEM: What could Jonah Nobleza do to balance the employment and production of MGV? OBJECTIVES: To be able to find an alternative way to scale-up the production without sacrificing the mission of MGV. To prove to the investors that MGV is a successful social enterprise with viable economic. To be able to spot the best possible solution balancing employment vs. production. AREAS OF CONSIDERATION: Strengths The staffs of MGV are all professionally trained. Providing health products to consumers Promoting environmentally friendly fishing practices Well-developed facilities Provides healthy fish farming Women are skilled in fish processing Opportunities Providing business opportunities to Muslim women in Davao community Having more loyal customers Adopt technology Weakness Limited capacity of production Lack of investors Not using chemical pesticides that reduces the quantity of fish Threats Competition of other fishing industries Natural or man-made calamities ALTERNATIVE COURSES OF ACTION: Stick to their goals to hire more workers by adding another processing plant Merge machine labour and manual labour in production process Replace the manual labour into automated labour process while the workers will serve as indirect employees. RECOMMENDATION: The best alternative course of action is the second solution, which is merging of manual and automated labour process which is in production there will be a machine to help fasten their production for better labour process and to maintain the employment, there should also be a manual process for the workers to help manipulate and monitor the machines. CONCLUSION: We therefore conclude that our recommendation can help the company increase their production without eradicating workers in view of the fact that they can also help in monitoring the machinery to speed up production and we can assign them in manipulating the machines. Adding more machines also means hiring more workers and as a result of having faster production. As their goal is to provide employment to many poor household they were able to maintain their social enterprise.

John Austin’s Theory of Law

John Austin (1790-1859) was a British legal philosopher and was the first Professor of Jurisprudence at London University. His publications had a profound influence on English jurisprudence. They include The Province of Jurisprudence Determined (1832), and Lectures on Jurisprudence. John Austin is best known for his work developing the theory of legal positivism. He attempted to clearly separate moral rules from â€Å"positive law. † Austin's theory also falls under Constitutions, International Law, non-sanctioned rules, or law that gives rights. Austin believed that people have different interpretations of what is wrong and right.Therefore, ‘set' laws needed to be established that has to be obeyed. There are three aspects of Austin's theory of law – Analytical Jurisprudence, Legal Positivism and Command theory of law and the theory of legal sovereignty. Analytical Jurisprudence: It is a method of legal study that concentrates on the logical structure of law, the meaning and uses of its concepts, and the formal terms and the modes of its operation. John Austin's particular form of analysis was reductive. He analyzed legal concepts in terms of non-legal concepts so that the entire law could be understood in non-legal terms.Legal Positivism: In the 19th century, Austin developed legal positivism theory. The legal positivism states, â€Å"What is Law? † Is it written? , Where does it come from? Positivism is from Latin ‘root-positus', which means to be certain and fixed. Legal positivism states that laws are derived from written rules, regulations which have been enacted, adopted and recognized by a governmental entity or political institution, including administrative, executive, legislative, and judicial bodies. It is based on the legal philosophy that what is the intent of the enacting body.Command theory of law and the theory of legal sovereignty: This aspect of Austin's theory is based on the commandment of the sovereign. He r ealized that there should be fixed written commandments, which should be obeyed by all people. These commandments should be backed with sanctions. For example, if we do not obey traffic rules or commit an offence which is codified in the Canadian Criminal Law, we shall be penalized. Austin also realized the need about the uniformity of law. By uniformity means, that the law should be equal for all people of the state.

Stop Thief!

It was Christmas, the mall was pretty vivid and splashy, there were all sorts of ornaments hanging around the mall. As I moved from shop to shop, I saw beautiful new fashioned clothes, iPods, wooden antiques, decoration items and Santa of course. Different types of Christmas cards, greetings, bouquet, and box of chocolates, teddies and Santa costumes were displayed on every corner waiting to be sold out. This was my first trip to Canada and I was really enjoying the every cold chilli weather of the country.I was about to travel the following day to my uncle who had shifted there 15 years ago. And I was really very eager to see my cousins for the first time. As I was walking through the mall when I just saw what I was waiting for, a shop decorated with fine beautiful painting perfect for a beautiful house like my uncles one, I looked at the paintings and then I looked to the money in my purse which I had been saving for 2 years I wanted to buy one for my uncle so that he says â€Å"O h! Dear how sweet of you†¦!†Suddenly, breaking into my day dreams a boy of 24 or so just like my big brother suited in a detective uniform with black hat, and black glasses, his face covered came running past me shouting â€Å"stop him, catch him don’t let him go† and tripped at my feet. I said sorry to him and gave him a hand to get up, he got up and gave me a slight push and I felt something tickle down my purse as he wiped his clothes and kept running I thought for a while that are all Canadians manner less that they run away without even saying a â€Å"Thank You†.I then just dismissed the subject and forgot about it and kept walking thinking to buy the painting I was looking forward to and some winter clothes to help me stay alive here in this cold, as I entered a shop I took the perfect jeans and some winter clothes thinking I would next buy the painting, I went happily to the counter waiting for the bill to be given to me when I got the amount I was not really shocked because that amount was not much but when I looked to my purse I was more shocked when I looked inside, the zip was open and the money was gone I had no hope now that I would find it again.

Military Orders and the Outcomes Essay Example | Topics and Well Written Essays - 500 words

Military Orders and the Outcomes - Essay Example Military orders are given to soldiers, but the orders are impact the civilian population as well as the military. From Biblical accounts to Hurricane Katrina, the military has given orders to protect and give their citizens structure. Three examples of military order providing the structure seen in today’s society. Basic training for the military differs all around the world are different. Most militaries drill obeying lawful orders into their recruits. The only exception is if the order is illegal. Osiel (1999: 241) explains â€Å"legal orders must be obeyed. The soldier is routinely punished when they are not. In principal, illegal orders must not be obeyed.† Civilians hold to this theory a little more loosely. Most law abiding citizens will not question an order from a police officer. There are exceptions to this rule, but like basic soldiers most civilians will cooperate with the police. Not all soldiers follow legal orders. An example is Pfc. Bradley Manning. Pfc. Manning leaked classified information to Wikileaks. Pfc. Bradley Manning, who turned 23 last month in the military prison, is accused of the biggest leak of classified documents in American history. He awaits trial on charges that could put him in prison for 52 years, according to the Army. (Shane 2011) Pfc. Manning felt that the American public deserved to know what was really going in Iraq.

Analyzing a Job Essay Example | Topics and Well Written Essays - 1000 words

Analyzing a Job - Essay Example These descriptions are formulated by the human resource department of the company; they are arrived at after the workforce requirements are comprehensively scrutinized since the description would give the type of applicants that the firm would receive. A part from mere undertakings and the technical skills that are of relevance in undertaking these responsibilities, the details should include such personal features that would ease the process of one holding the position. In this manner, the firm ensures that the employees it eventually hires would be of the traits that would be easy to effectively manage (Thomas & Michael, 2001). A New York hospitality firm, Travel care company Limited, has for the past three years operated in the American market offering such services in hotel booking, flight ticketing, car rental and hiring . The company has decided to venture into the tour industry for the first time. The firm is, therefore, diversifying its services and is expanding to other cities in America as well. Their first destination following this diversification is the city of Los Angels. A number of new positions have, as a result, been created and the firm aims to hire several of these within the five weeks preceding the formal opening of the Los Angel’s offices. Following the planned diversification of the firm, two fundamental departments have been created and would thus require staffing. It is with that effect that this memo seeks validity. The firm will be seeking to employ twenty five drivers and tour guides of similar number. The individuals will be responding to the head of department on tourism from which orders and terms of daily engagements will be communicated on daily basis. They will be tasked with the mandate of taking the tourists on safaris. Their main task will be to ensure that the tourists receive

GENETICS AND GENE MUTATION Coursework Example | Topics and Well Written Essays - 750 words

GENETICS AND GENE MUTATION - Coursework Example What meaning do these mRNA codons have for protein synthesis? Explanation: mRNA is essential in protein synthesis because it transports genetic information from the DNA contained in the nucleus to its place in the ribosome. In short, mRNA contains the genetic information needed to make proteins during transcription. The protein molecule that results from the process therefore has genetic information identical to the original genetic material of the individual (Clark, Protein Synthesis, 2007). Did the two mutations result in a change in the final proteins? If so, describe the change. Response/ explanation: All mutations will definitely result in the production of different final proteins, such as the changes caused by the three mutations in the diagram above. Specifically, the two genetic mutations above were significant. In the first mutation, the mutation coded for ILE when in fact MET should be the normal initiation code. The second mutation coded for ASP and PRO instead of HIS and ARG when the gene is normal. However, the third mutation is not that significant since UAA is also a termination codon just like UGA. Such mutations that result in significant changes in proteins may actually manifest as physiological problems in the individual later on (Clark, DNA Mutations, 2007). In general, why might a change in amino acid sequence affect protein function? Explanation: Protein function may be affected even by slight changes in amino acid sequence. This happens in protein synthesis. These changes may manifest as genetic disorders in the individual or even death (Clark, DNA Mutations, 2007). Part II Punnett Square a. Chances (%) for healthy child, not a carrier b. Chances (%) for child that is carrier for cystic fibrosis trait c. Chances (%) for child with cystic fibrosis Fill out/adapt Punnett Square: ___C___ __c___ ___C___ CC Cc ___c___ Cc cc a. Chances (%) for healthy child, not a carrier: 25% (CC) b. % for child that is carrier for cystic fibrosis trait: 50% (Cc) c. % for child with cystic fibrosis: 25% (cc) Part III: Essay How do both meiosis and sexual reproduction (fertilization) produce offspring that differ genetically from the parents? Include steps in meiosis that increase variability Include the process of fertilization. Explanation: Crossing over, or the exchange of genetic material, which takes place during meiosis is responsible for the variation that may show up in the offspring. Prophase I of meiosis is the one responsible for crossing over. The result of this particular process is the production of chromosomes, some of which have maternal and some have paternal traits. During metaphase I, there is another method of variation and this is known as the independent assortment of homologous chromosome pairs. In anaphase I, there is also variation as there is random mixed variation of maternal and paternal chromosomes. Variation is also produced through fertilization because sex cells from both parents combine in many different ways in order to form a new individual. The chromosomes of the father

Critically consider Judith Butlers work on performativity Essay

Critically consider Judith Butlers work on performativity - Essay Example Butlers several statements show the social and cultural pressures that lead to performativity in gender, there is a lack of definition with subjectivity, individual identity and outside gender theories. Her several works show the levels that relate to the performance as gender; however, there are also several debates over the identification of individuals that may be outside of the performativity that Butler suggests. The first set of concepts that are approached with Butler’s theories of performativity is to define what this means and which actions it constitutes when one is performing the idea of gender. The basis of this theory is to show that gender is not one that is recognized as an internal and natural means, but is instead a performance that one carries out. This requires specific attributes for one to become a gender and to perform the identity of gender. Butler notes that this is not something that is self – constituted and requires external means to influence the idea of gender identity. It is also noted that performativity and gender is not a performance that is only taken into consideration at certain points. Butler points out that this would limit the identity of gender as it is seen by others. Instead, this concept is one that is practiced by an individual repeating specific acts and continuing to accept them as a part of their identity. This turns into the identity a nd condition of the subject as it is practiced and continuously repeated. â€Å"This iterability implies that performance is not a singular act or event, but a ritualized production, a ritual reiterated under and through constraint, under and through force of prohibition and taboo, with the threat of ostracism and even death controlling and compelling the shape of the production† (Butler, 95, 1993). The idea of performativity for gender identity is then one that begins with a basic act that continues to be repeated. As this occurs, it becomes a taboo in society until it

Machiavelli the Prince Essay Example | Topics and Well Written Essays - 2000 words

Machiavelli the Prince - Essay Example The people’s favor plays a chief responsibility in ensuring that princes remain in control of the realm. The kingdom, therefore, offers a lot of challenges to princes in order to stay in power since lack of community hold up leads to kingdom loss to preferred princes (Machiavelli 43). In regard to this problem, Machiavellian has proposed various ways in which princes and leaders in general should adopt to linger in power. The methods presented by the author are served to keep citizen support at all times both for the earlier leaders and leaders of today and tomorrow. However, despite the teaching of these methods in education institutions, most of the methods only apply for the case of the prince. The methods are specifically designed as tools for the prince’s selfish welfare. In the book, the author presents the question, and responses have been developed to criticize the thinker’s position, through various accounts presented by comparing it to the dangerous app roach of elitism. Presented Question The question presented by the thinker does not gyrate about what makes human good but rather what makes a compelling prince. The question has been perfectly answered by the writer through the application of the thinker ideologies. The ideologies are the methods that the thinker presents to the prince in an attempt to ensure the public remain on his side. The prince through the thinker must come up with stratagem to ensure loyalty from the masses, to keep the large population on his side. The issue brought about is that the prince has no regard for the human morality rather he cares more about retention of his realm. Critical Response The ideologies presented by Machiavelli can be regarded to be purely scientific. Machiavelli utilizes the classification system in which he treats kingdoms as the different species that have been prearranged into a political nomenclature. Machiavelli also provides suitable historical examples to back up his claims. H e exhibits his clear knowledge of past chronological events and develops the whole story through a clear argument. The prince has to uphold influence in his kingdom, and this necessitates the installation of fear into the citizens through various strict rules. However, while still maintaining power, the head has to take into thought the implications of the strict measures. The price has to install fear into the populace while still preventing an unnecessary cruelty since unnecessary cruelty may work against him. The prince has, therefore, to balance between cruelty and installation of fear as well as show respect to his subjects to prevent any unnecessary rivalries. The matter presented through the analysis, brings into light the idea that Machiavelli observes modest value in love, as well as the loyalty, that it might acquire from the populace. Machiavelli has the feeling that rulers have the obligation of making their citizens aware of their authority or powers (Machiavelli 38). T he author provides that competent princes have to establish themselves in their individual control of their realm instead of concentrating on other leaders. The author adds that the princes have to attempt to steer clear of hatred through any means possible. According to these statements, the author conveys the message that the rulers have to stay compact although they ought not to invite hatred because

Britain in the second World War Essay Example for Free

Britain in the second World War Essay Britain in the second World War: the Evacuation of British Children Explain the differing reactions of people in Britain to the policy of evacuating children during the Second World War. There were a variety of reactions towards the evacuation of children in World War 2. Everyone was affected by the evacuation but the main reaction was that it was needed. I am going to look at different groups and what their reactions would have been towards the evacuation. Firstly I think I should look at the children themselves. Many children would have wanted the evacuation, as they would be concerned for their safety. Children would naturally be afraid of air bombings and the sound and sights of bombs would horrify them. If it meant they were safe Im sure they wouldnt mind leaving their homes. Well I definitely think that the more mature children would definitely not mind leaving. Many children then lived in poverty, and would not get to go on holiday; this would then be like a long holiday for them. Many children enjoyed the evacuation as they experienced new sights and new surroundings. An example of this is in the A Coursework Sources Booklet On : the evacuation of British children in the Second World War. On page 6 source 14, a boys says, instead of having to play cricket in the garden, we went bird nesting. This suggests that the boy did not enjoy playing cricket, but was enjoy himself more when evacuated. But Im not forgetting this is only the reaction of one boy. But there were some children who would get homesick or not enjoy themselves. This can be expected when you put young children into new surroundings and they would have been scared. In the booklet, page 4, source N it quotes And hot water from a tap. And there was a lavatory upstairs. And carpets. And something called an eiderdown. And clean sheets. This was all very odd. I didnt like it. it was scary. This shows that even though this person was now living in better conditions, they were not happy were they were and they would rather be home. I think it depended on your host. If you liked them, then you would likely enjoy yourself. If you didnt like them the majority hated it. I will now look at the reaction of the mothers. I think the majority of mothers would have felt the evacuation was correct and would have felt reassured that the Government was taking some action and getting the children to safety. The mothers would also like the evacuation because they would benefit. They could now concentrate more on work now and in the view of the economy this was an advantage of the evacuation. Knowing that their children were now safe and werent in danger of their school being bombed, they could work more efficiently and harder, therefore producing more artillery for example. If the mothers were working harder at work they would be tired at home and therefore if the children were away they wouldnt have to worry about them misbehaving, or getting into trouble, but they could now relax more. Also they would be better off financially, they may be getting better wages as they had time for over-time, and the didnt have to spend money on the children or as much food etc. But some mothers may not like it as much as others, as they may worry about their children being away from them. They may worry that their temporary parents did not treat them well or feed the well etc. Some may feel that they would be safer at home though this was obviously no the case). They may also find themselves very lonely, their husbands had gone and now their children, and there now would be less help around the house Also mothers are very protective of their children and they may worry that their children may get ill or hurt, and if this was the case they would feel they should be there to care for them. I now think it is appropriate to look at the reaction of the fathers. As with the mothers I feel the majority of fathers would welcome the evacuations, as they could respect that it was for their safety. They would welcome it as it would be very comforting knowing their children were safe, and they knew that if they felt this way they could fight with more heart, effort and overall increase moral. So contributing to the war effort.