The Economics of Natural Resource Availability Essay

The Economics of Natural Resource Availability - Essay Example Every market strategy should cover the price and output strategy, the reaction of price and output strategy of other competitors in the market. There are large numbers of applications of business in this technological and advanced scenario. There are web and net facilities to all one should have an access to the internet facilities for business helps in advertising the introduction of the products and new designs The computer programming one of the most important things to consider the work based on software’s introducing different software. Small industries at small scales mean the garment factory leather and so on, small educational institutions such as small schools, investments in the small business of departmental stores, whole sellers and retailers. Keynes describes the study of unemployment with the business cycle he gives the study of aggregate demand. In Keynes view, using applying the fiscal policy can reduce the fluctuations in business cycle and monetary policy fiscal policy is the government policy and monetary policy concerned with the policy by a central bank and the government departments too. The Keynesian economics is based on the 20th-century ideas. In the Keynesian view, there are many macroeconomic variables, which have an impact on the individual’s microeconomics functions. In Keynesian economics, the discussion of aggregate demand with the individuals demands the goods. In his view there are many changes bring by the government by implementing the fiscal and monetary policy to take control over the economy and prevent it from downfall. The supply side economics is concerned with the implementation of monetary and fiscal policy it focuses on the monetary policy the study of money demand and its supply monetary policy is only concerned with the changes in the money supply not with the interest rate, the changes in interest rates are managed by the fiscal policy.  Ã‚  

Organizational Theory Design and Change Essay Example | Topics and Well Written Essays - 250 words - 4

Organizational Theory Design and Change - Essay Example Creativity deals with ideas going beyond the boundaries of technology, social norms, knowledge and beliefs. When these three elements combine in an organization, then creative destruction takes place in which old companies which use old conventional methods are thrown out of the competitive market and business and new industries emerge as a result. When an organization follows such strategies that encourage the entrepreneurs to utilize their creativity in developing new products or in improving the efficiency of the older ones, then they come up with new innovative ideas and hence new product with increased efficiency is introduced in the market which better address the needs of the clientele. This not only boosts the organization’s integrity but also add to its stability. Thus, these three elements are interrelated with each other and are considered to be vital for knowledge-creating organizations because such organizations needs innovation at all levels put forward by the cr eative entrepreneurs. This increases the entrepreneurs’ expertise, and guarantees the organization’s growth and increased productivity that eventually attracts clientele, results in better product outcomes, and creates good reputation in the market. Works Cited Jones, G. Organizational Theory Design and Change. NJ: Prentice Hall, 2009.

Pestel Analysis For New Type Of Solar Panel Engineering Essay

Pestel Analysis For New Type Of Solar Panel Engineering Essay The purpose of this report is to investigate the external business environment for a new type of solar panel that can be fitted into UK homes to generate energy. The report consists of three parts. The first part of the report gives an introduction into solar energy, the present market size and serious market competitors. The second part presents the four key trends obtained using PESTEL analysis, identifying the factors affecting the start-up of a business. The third section reflects upon the future and the obstacles faced by the solar panel/technology industry in the UK. Information used in this report was gathered using internet services such as Google Scholar. All the websites used are referenced at the end of the report. 1.1 Solar Power and Solar Technology Solar energy was first used in the 1860s [1] by Auguste Mouchout, to produce ice by converting solar energy into mechanical energy. He later connected a refrigeration machine to this system to produce ice. In 1883, Charles Fritz converted solar energy into electrical energy. This was the biggest moment in the history of solar technology as scientists had finally found a ray of hope. Solar energy continued to develop in the 20th century. Solar panels were finally developed in 1954 at Bell Laboratories using silicon. By 1990, it was clear that non-renewal fuel would run out and it was essential alternative sources of energy were improved. In the 21st century, solar technology has improved many folds. The conversion rate of solar energy into electrical energy in 1954 was 6% [2]. The facilities present at the Sandia National Laboratories have a conversion rate of 31.25% [3]. Amorphous Solar Cells Crystalline solar PV holds close to 85% of the total market share, leaving the remainder to thin-films [4]. Which are used in a domestic environment. These can be either mounted on roof tops in UK or facing 90 degrees of south. Average solar electricity system cost  £12000 and per kW of electricity cost from  £5000  £8000 but this reduces with time as the system produces more electricity. 1.2 Advantages Producing electricity using solar power provides three main types of benefits: it benefits the environment, the user and the community. Solar power is considered a Green/Clean fuel and renewal. This helps slow down the effects of global warming and keep the environment clean. The benefits for a domestic user are: Cutting the energy bills of the household since electrical energy is being produced from a free source of energy (Sun). Once the initially cost of installation of solar system is covered, the household will have relatively low energy bills. An average UK household can save upto  £140 on energy bills/year [5]. It can provides 24 hour electric supply to a households situated in remote parts of UK If energy has been produced in excess by a domestic user via the solar energy system (SES), then it can be fed back into the national grid. This benefits the community, reduces the use amount of electricity which has to be produced using non-renewal fuels and provides finance for the producer. 1.3 Key UK based Market Competitors Various companies install Solar Electric System (SES) for domestic use. Various non-profit organisation such as Narec [6], Energy Saving Trust UK [7] and The Solar Energy trust UK, promote and support the projects undertaken by companies involved in the solar industry. Microgeneration Certification Scheme [8] ensures that all equipments and services used in the installation of a SES in a domestic surrounding is of the highest standard and is thoroughly examined. http://www.uk-ises.org/ Solar Essence Ltd is one of the leading companies which specialise in solar power/heating [9]. Solar Essence is a MCS approved installer of photovoltaic systems. They were heavily involved in the campaign which led to the Climate Change Act 2008. PV Systems established in 1982[10] is the leading provider for Photovoltaic (PV) Systems in the UK. PV Systems designed and installed UKs first fully integrated PV roof in Oxford, UK in 1995. Since then they have installed over 1000 PV Systems. They also work closely with companies such as Sony, Sharp, Mitsubishi and BP Solar; developing and installing smart PV Systems. PV Systems is too a MCS approved company; maintaining the highest standard of services. Energy Development Co-operative Ltd is a company based in Suffolk, UK since 1997. They specialise in providing off-grid solar systems by setting up SES in remote locations. They provide solar systems for various county councils in UK, Universities (Manchester), the BBC, Intel and many more such companies who are trying to reduce their energy bill. We can expect a boom in the Solar Industry in the next decade as more domestic and industrial users switch to green-fuel. Areas of UK, where sun light is available in abundance can expect new companies providing efficient alternative source of energy via the sun; to start operating in their areas as everyone is a winner in such a venture. 1.4 Market Size for Solar Power in the UK Solar energy can be potentially be a large scale/cheap energy provider for UK, especially in the summer months hence making more energy independent from the East. Across the world, the installing of PV increased from 6000 MW in 2008 to 7.3 GW in 2009. UK is expected to have a market size of 60MW in 2010. In order to get a better idea about potential market size for solar power in the UK for the next decade, a study was conducted by Energy Efficiency Partnership for Homes (EEPH). Here are the details: A method calculating the usage of Microgeneration technology was created for an earlier study on energy sources; this method was used by EEPH in order to predict the possible number of new installations of solar energy systems on yearly bases from 2010 2020. This method considered the peoples choice for microgeneration technologies. Below are the findings of the study: PV system is expected to have a market of 200,000units/year in 2020; consumers feel they would benefit greatly via Feed-in-tariff (FIT) and the capital cost to set up PV system could be covered via FIT. This is a very realistic with the improvement in the SES technology and funding from the government. In the present time, solar hot water systems are the most preferred choice(from all the microgeneration technologies presently) by domestic users of solar energy, but are expected to decline as other methods such are hot air technology improvise. The competition to sell SES is heating up in the UK. At present, there are three types of companies fighting for the top spot. Firstly the manufacturers, they are becoming more and more like wholesalers, hence affecting the business model of the wholesalers for solar systems. Manufacturers and wholesalers also have to fight large companies which specialise in installing solar systems. A price war is expected to drag the capital cost down for manufacturing, installing and maintaining. This is however an excellent news for the domestic/industrial consumers of solar power. 2 External Business Environment Analysis Using PESTEL The PESTEL model is made of 6 parts. Its designed to provide assistance to an individual or a group of people, making a business decisions. There are various elements (such as new laws and trade deals) which can affect an organisation; PESTEL is used to divide the elements affecting a business into 6 different categories. The six categories are: Political factors. Economic factors. Social factors. Technological factors. Environmental factors. Legal factors. This part of the report will help identify 4 key trends which are most likely to affect a new business in the field of solar industry. 2.1 Political: Government effect and projects This part of the report focuses on plans set by the government and trade associations; resulting in increased usage of renewal fuel, and predict the effect of these plans. The government has two main goals towards reducing the emission of carbon dioxide. They are: By 2020, aim to generate 20% of all British electric supply via renewal sources of energy and by 2050 cut the carbon dioxide emission by 60% for the UK. The present government towards these targets is shown in Figure 5. Earlier to the government announcement, in 2005 various trade associations consisting of over 550 companies addressed the issue of reducing carbon dioxide emission and increase the use of renewal fuels. By 2025 they expect 25% of UK total energy consumption to be produced using renewal sources of energy. [11] Figure 5[17] Shows the government progress towards its 2050 target A new government scheme, which is going to be introduced in April 2011[12] is set to announce that one in 10 UK homes will have a roof based SES. This will result in saying of upto  £900 a year for then household. The Scottish Government has a scheme promoting and proving grants for anyone using the microgenerator method for producing energy. The government are providing upto[13]  £4000, roughly 30% of the installing cost. As time goes on, more and more households will take up the idea of having PV on their roofs as time would also start running out for the targets set by the government. As UK recovers from recession presently, the young generation would see microgeneration technology as a attractive prospect(also the grant to cover the capital cost) as we might go through another recession in the next ~40 years and being about to reduce your bills in the recession, majorly helps out a household. 2.2 Economic: Prices of non-renewal fuel and average income This section of this report contains analysis of the effect of an increase in the cost of non renewal fuel and a increase in energy bills. It also reflects on the factors influencing financial the decision to invest into a microgeneration technology. A domestic household in the UK uses up about 1.5 to 3kW [13], and solar panels can roughly 50% of the domestic energy requirement. Presently most of the electricity using in the UK is produced by the burning of oil, natural gas and coal. This means an increase in a selling price of oil, natural gas or coal would directly increase the energy bills of a UK household. Figure 1.0 shows the increase and decrease of oil prices in the UK. The X-axis should a time line and the Y-axis shows price/gallon. In the year 2008, energy bills were considered to be at their highest point, especially August 2008. In the next 18 to 20 months, the wholesale price for oil, natural gas and coal fell by 15% 20%. This resulted in Figure 1 Graph displaying the average oil price/month from 2005 ~2010 [14]. In the year 2008, energy bills were considered to be at their highest point, especially August 2008. In the next 18 to 20 months, the wholesale price for oil, natural gas and coal fell by 15% 20%[15]. This resulted in the decrease of electricity prices by a similar margin for retailers. As we continue for relay on limited non-renewal fuels to provide energy, eventually the price of non-renewal fuels will increase, also increasing the average energy household bill. This drive in prices will result in an increase of the usage of renewal fuels, and over time the capital cost to setup will reduce due to improvements in technology, increase in efficiency and competition. New customers in the solar industry will mean a much needed funding will start becoming available in order to research further, the field of solar technology and also lead to a clean fuel based UK. 2.3 Social: Awareness about clean fuel This part of the report reflects on the present efforts being made in order to raise awareness about renewal/clean fuel in the British society. The report also reflects upon the effects of non-renewal sources of energy and their effect on the climate, e.g. Global warming. It is believed that if all of the sunlight reaching planet earth each day was converted into electricity, then the amount of electricity produced would be same as supporting the energy consumption on planet earth, many times over the usual consumption. More and more energy consumers across UK are now keen on using renewal sources of energy. This is due to the various publicity campaigns on saving energy and recycle waste making the public a lot more conscious about their behaviour towards the environment. Things such as the melting of polar ice caps due to global warming and extinction of species of various animals due to unsustainable environment has raised some important questions about human behaviour towards the environment. Figure 2 shows that change in average temperature of Central England compared to the average Global temperature. Figure 2 shows a steady increase in temperature in Central England. It is further expected that the average temperature will rise by 1.4 to 5.8 ° C [16] by the end of the 21st century. In order to keep living in a sustainable environment, we need to change our habits: Recycle close to 100% of the waste Raise awareness about sustainable environment in schools and offices. Use energy saving methods while carrying out day to day tasks. Increase in media coverage about the latest developments in the environment. Better grants and facilities available for a domestic user to switch to solar energy from a non-renewal source of energy. More and more people are now trying their best to reduce their carbon footprint to its minimum. There are various tools available which help you calculate your carbon footprint. Using energy saving light bulbs. Figure 5 provides some evidence that the British people are becoming educated about sustainable living and changing their habits as the carbon dioxide emission is on a decrease. Government is now also educating school children on green fuels and the effects of global warming on our environment by making it part of their education system. This is exceptionally good since those children will already be aware of the issues affecting our environment and will prefer renewal sources of energy as they are aware of the impact on non-renewal sources of energy on the environment. The market prospect looks positive for renewal sources of energy in the next decade, as various projects raise awareness about the effects of carbon dioxide emission on our environment. Both the domestic and the industrial sector are now changing their behaviours towards the environment and government across the world are seriously promoting renewal sources of energy as our environment could be in jeopardy if nothing was done to sustain it. 2.4 Technology: Efficiency rate One of the reasons people do not readily take to renewal sources of energy such as solar power is because they do not consider them to be 100% reliable and have a low efficiency rate (converting solar into electricity). Since 1860, scientists have been trying to address the problem of efficiency rate for solar energy. The solar technology has advanced many folds since 1860, which have made SES, affordable, reliable and low maintenance. Solar technology has been integrated with the thermal-chemical technology [18] in order to increase its efficiency. This hybrid allows users to store heat energy from the sun and convert it to electricity whenever required. This prevents from the loss of heat which was a major problem with traditional SES as they use to lose heat if it was stored for later use. Another advancement in the solar industry has been of the development of the Power Sticker. A power sticker boosts the energy output of a SES by up to 10% [19]. A power sticker sticks on top on a solar cell and prevents solar light from reflecting off from the top of a cell hence trapping the maximum about of sun light. MAKE MY OWN GRAPH ON THE NUMBER OF SES EXPECTED TO BE SOLD BASED ON OIL PRICE [1] http://facts-about-solar-energy.com/solar-energy-history.html [2]http://en.wikipedia.org/wiki/Solar_thermal_energy#Conversion_rates_from_solar_energ y_to_electrical_energy [3] http://www.sandia.gov/ [4] http://www.solar-power-answers.co.uk/solar_cell_types.php [5] http://www.electronicsweekly.com/Articles/2010/08/04/49207/uk-is-fastest-growing-solar-energy-market.htm [6] http://www.narec.co.uk/ [7] http://www.energysavingtrust.org.uk/About-us [8] The Microgeneration Certification Scheme. (2009). Welcome to the Microgeneration Certification Scheme website [online]. Available from: [cited 23/02/09] [9] http://www.ethical-junction.org/profile/solar_essence [10] Department for Business Enterprise Regulatory Reform. (2009). Renewable Energy [online]. Available from: [cited 22/02/09] [11] British Wind Energy Association. (2005) BWEA press release [online]. Available from: [cited 22/02/09] [12] http://www.financialadvice.co.uk/news/household-bills/87515-uk-government-offers-incentives-for-renewable-energy-supply.html http://www.direct.gov.uk/en/Environmentandgreenerliving/Energyandwatersaving/Renewableandlowcarbonenergy/DG_072593 [14] http://www.thisismoney.co.uk/oil-price [15] http://www.theenergyshop.com/getTariffUpdates.do;jsessionid=DB5D90222582827E01DABE3170A06719 [16] http://www.decc.gov.uk/en/content/cms/statistics/climate_change/impacts_cc/impacts_cc.aspx [17] http://www.decc.gov.uk/en/content/cms/statistics/climate_change/gg_emissions/targets/targets.aspx [18] http://www.alternative-energy-news.info/mit-thermo-chemical-solar-power/ [19] http://www.alternative-energy-news.info/power-sticker-boost-solar-power-generation/

A comparison of Ancient Rome and Pre WW1 United States Essay -- essays

A comparison of Ancient Rome and Pre WW1 United States Title: The Roman Empire and the Early United States A comparison The purpose of this paper is to show the comparison between remarkable empires that were created in many years apart. I chose to compare Pre-World War I United States and the Roman Empire. The Roman Empire information is said to be recorded between 753BC – 1184 BC (ThinkQuest) and the Pre World War I information is between late 19th century and early 20th century (Encarta). Included in this paper will be in information comparing: Government, Economy, Military, and Religion. GOVERNMENT The Roman Empire had 3 different types of government during this period. During the 1st period Rome was controlled by a King, who acted as commander-in-chief during war times as well as the chief priest and judge (ThinkQuest). Decisions had to be approved by the Comitia Centuria and the Senate before the King could exercise his authority. The United States was set-up similar to the Roman Empire in regards to how decisions where executed. The United States government consists of a President, Congress and Senate. Taking these aspects into consideration, both the King and the President have to receive permission from other bodies of government before making decisions. ECONOMY Both the Pre World War I United States and the Roman Empire had vast amounts of agricultural products. The Romans had created a system equivalent to the United States, which seems amazin...

The World – Creative Writing

After the dreamless sleep of eons, the time had come for him to awaken, to view what was known only as The World. He traversed the nothingness of the desolate area around him, aimlessly trying to find something, someone, anything. Yet isolation was all he found. The World was a place where the order of time was non-existent and all of intelligent life's technology was lost for all eternity, all under a veil of turmoil. The more he searched, the less he found. The only sound to be heard was the sound of skulls crushed under foot. Yet his pointless journey continued. He became more frantic; he wanted to find something, a flower, a butterfly, or someone he could socialize with. Still, nothingness was all he found, himself was all he could socialize with. He became scared even though there was nothing to be afraid of. Fear had consumed him, just like fear had consumed The World. He believed too, he would become just a number. However, then he saw it. Pillars of blackness emanating from the horizon, piercing the sky above him, a fair distance away from him. He also saw faint figures, just like himself near the origin of the Pillars, and a city surrounding them. He started walking towards the city. A walk soon turned into run as he was struck with inconsolable relief. He knew, now, he was not the only person in The World. He thought he was alone, but now his fears were all except present. When became closer, inconsolable relief turned to inconsolable pain as he saw the figures close up. He did not see humans, people, or even animals. They were monstrosities. Turned to their state by their own greed and power hungry minds, only mutated organisms were left. One turned and slowly trundled towards him. It wore a long grey unblemished garment, with a hood obscuring its face. Diamonds, gold and other precious materials covered it, in a delicate and intricate pattern. He shivered as it put a limb, similar to a hand, on his shoulder. ‘You are lost, are you not?' it muttered to him. He nervously nodded, not able to open his mouth to speak. He continued ‘After many centuries of searching I have finally found the one I am looking for, the one I can call my own. You may not think you know me, however, you know me more than you think you believe, and more than you want to believe.' He was mystified. A figure he had never seen before that claimed to know him. It was too much for him. He started to back down, but then he saw someone behind the figure, someone he recognized. She was talking to someone, a figure just like him. ‘Orta, you know her do you not? She came here, only recently, to meet her friend. Her friend Vertigo, who knew her, just like I know you.' He was mystified, ‘Is this a dream, a nightmare?' He thought to himself. The figure stated ‘This is not a dream. I am as real as you or Orta.' He was puzzled, being driven to insanity by the information overload. He could not understand what was going on. The area around him had people around him arriving all the time, meeting mysterious figures just like him. ‘Look around,' the figure continued, ‘There is your friend Alambad with Insanity, your doctor Xenia with Death, your cousin Vyse with Paranoia, you are not alone.' He became hysterical, his eyes widening, his face as pale as the moon itself. He ran at his cousin, screaming and shouting. Yet Vyse did not notice him. ‘You attempts at communicating with beings other than me are futile. I am the only one you can converse with at The World.' He stopped, with tears in his eyes and dragged himself back to the figure. ‘What is your name?' he asked, as he tried to hide his emotions. When he received no response, he repeated his question louder with more infurity. It replied ‘The figure you see before you now, the figure you are conversing with now has no name. It is nothing. It does not exist except inside yourself. However as humans require a name for everything, you may refer to me, as Isolation.' He raised his claw like limbs to lift the hood that covered its face. As the hood fell behind it, he winched in disgust as he saw what the hood was hiding. On his face he had, nothing. ‘Victims of our own fear brought us here, there is no way out.' Isolation said with his none existent lips. He raised a boney finger towards the pillars of shadow and continued ‘You humans fuel The World through your fears and phobias. They are non-existent, yet prove useful to us. You feed the The World, governed by Chaos our king and ruler, you keep it open. Our apparent existence is created by you. The endless walk you had when traveling here, you created it, you made it. Orta entered The World through the Clouds above you. Xenia entered The World through a car accident, on Earth. I am sorry but you will never return to the place of your origin.' They looked up into the sky together, observing at the beauteous gem in the sky they knew as Earth. Walking along memory beach together, they were soon talking and joking together as if they were long lost friends, walking to the end of time.

Psychoanalysis of Crime Essay

An individual’s sense of self has always been an issue that fascinated people. Under the notion that most people enjoy talking about themselves, the realm of psychology opened its doors to investigate the underlying conditions that make people who they are and how they perceive others and the world. Many theories have been developed in order to understand the complexities that make up the human psyche and it is in this aspect that this paper will center upon. The theory which I have chosen for this particular case study is the Psychoanalytic theory by Sigmund Freud and I believe this theory will address most of the behavioral patterns that the subject is situated in. Freud’s psychoanalytic style in examining an individual’s motives for behavior has established the grounds for in-depth analysis into a person’s psyche and though it has its limitation, it offers a refreshing viewpoint as to why such behaviors have endured and its significance to an individual’s interpretation of the world (Shoham, 1993). Psychoanalysis has helped in putting into perspective the many ways in which behaviors of an individual or groups of individuals could be determined by the examining their upbringing and isolating internal and external desires. One of the major conjectures of psychoanalysis is that individuals are inherently sinful and they are controlled by certain instincts which are buried in one’s subconscious. The psychoanalytic theory attempts to realize these internal desires in order to determine the right kind of action in which the individual might be able to control a problematic behavior from recurring (Elliott, 2002). In order to see the application of the psychoanalytical theory, a brief background of the case study should be presented to comprehend the situation. The case study involves a twenty-eight year old man named Bert who was convicted of committing larceny. In the article, Bert was condemned to serve a four year sentence in prison with eighteen months non-parole. Admitting to the crime he had committed, he was said to have been accompanied by two accomplices whom he knew from his previous prison sentence. It was relayed that Bert had entered a pub one night and was approached by the two accomplices who urged him to join them rob a factory. Nine weeks before the incident, Bert was out of prison after serving a year in prison for getting caught with stolen goods. In Freud’s Division of the mind, he enlists the concept of the Id, Superego and Ego. The Id is supposed to uphold the baser instincts that are present in each individual. It dispenses on the precepts of pleasure to satisfy the innate wants of the individual. The Superego comprises the ethical or moral aspect of the individual that appeals to an ideal sense of being. The Ego is said to be the balancing aspect of the individual’s personality as it maintains the needs and wants of both the Id and the Superego. The Ego represents the awareness of an individual regarding his/her state of being (Shoham, 1993). If the processes that harmonize these three should ever be disrupted, it would render uneasiness to the individual’s psyche and cause him/her to employ some defense mechanisms that would be able to shield the ego. The psychoanalysis in Bert’s case encompasses a great deal of struggle between his superego and id, as can be denoted when he points out that he is frustrated with himself for not being able to avoid criminal activities. This is described as an over-developed superego, which imposes an excessive need for punishment with regard to the things the individual has wrongly committed or the unpleasant experiences that has brought misery into the individual’s life (Shoham, 1993). In the text, Bert was said to have grown-up in a dysfunctional family and that his absentee father was also a criminal who often displayed a violent attitude towards the family whenever he was home. In this aspect, Bert’s rationale on punishing himself was an act of regression in an early state of his life that involved his father (Shoham, 1993). The illegal acts Bert has committed during his early teens and the subsequent trips to juvenile and adult institutions has led him to think that he should be penalized for the things that he has done and for belonging to a family that breeds criminals.. In a sense, Bert might be trying to compensate for his father’s mistake of abandoning his children with regard to his wife and kids and most especially, his brothers and sister. This kind of rationalization instills tension into his being, which makes him unconsciously commit illegal activities despite his efforts to reform his life (Shoham, 1993). As a result of this conflict, Bert reasons out in a defying way that even though he acknowledges his wrongdoing, he believes that it is under the influence of alcohol and the two conspirators with him the night of the criminal activity. Bert also pointed out that the long sentence designated to the criminal act that he had committed was a bit unreasonable since he only stole goods from a factory and not a private residence. Based on these statements, Bert had shown feelings of contradiction between his guilt for what he had done and his comprehension of the situation as he puts the blame on other sources in lieu of himself. In the case study, Bert was thought of to be a pushover by the law officers as the former would get caught up in situations that force him to do things that should best be avoided (Elliot, 2002). Parallel to his over-developed superego, Bert’s behavior also displays a weak Ego in conjunction with his Id. His inability to stand his ground in moral situations and his inadequacy in delivering good judgments makes him a pawn for manipulative individuals like the two conspirators whom Bert met at the pub (Shoham, 1993). In this situation, it is quite clear that he is still in denial of what he has done since he has not fully accepted the responsibility for the criminal act. However, in another statement, he also did not want to cooperate with the law enforcers in identifying who were his accomplices in committing larceny. This posits a rather confusing behavior as Bert did not want to admit fully to the crime committed yet he does his conspirators a favor and refuses to give out their names to the law officers as he believes that he is not one to break the code of brotherhood. This act alone concurs with the insight made earlier about his desire to be punished for being a criminal (Rosen, 1996). On another note, Bert has tried to justify the crime he had committed by rationalizing the triviality of robbing the factory and that a long sentence was not necessary. He seems to suppress the mere fact that he has a long track record of criminal activities that warrants for the current court verdict. With this in mind, one can deduce that Bert still thinks of himself as a misguided youth. Such display of reasoning implicates how the environment he grew up in greatly influenced his decisions in life (Shoham, 1993). His lack of a formal education and emotional nurture at home resulted to his rebellious conduct and misplaced aggression that could only be attributed to his family’s situation. Bert’s leanings toward alcoholism may be credited to his undeveloped oral stage, which his mother could not properly provide as the strains of his father being in prison and the abuses that his mother and siblings received from him deprived Bert of a normal transition into the next stages of development (Shoham, 1993). In addition, his father’s drunken presence at the puberty stage predisposed him and his older brothers to acclimate a life of criminal activities since that might have been the only way that he could be with his father who was gone most of the time. While he was third among the two boys in his family, he could not look up to his older brothers as they too were undependable for the nurturing in which he sought from his parents (Shoham, 1993). It is in this aspect that one can observe the oedipal complex that Freud has included in his Stages of Development theory as it demonstrates the lack of attention and love that Bert wanted from his father (Shoham, 1993). Bert’s unresolved intimacy issues from both his parents compelled him to project this in an unhealthy lifestyle through alcohol and a string of criminal records. In defense of the two conspirators, Bert might have felt a sense of belongingness in their company since they understood his situation more than anyone, which is why he was adamant to not cooperate with the law enforcers (Shoham, 1993). Bert’s yearning to successfully reform may be hampered by his own moral perceptions as he is not able to grasp the consequences his actions have merited him. While he is affected by what happens with his wife and two children, he cannot instinctively change his ways without going through therapy or some form of rehabilitation to straighten his ways. Bert’s situation could have been easily avoided if he has learned to act on his own. Since his lack of education poses a hindrance to the development of his being, one could suggest that individuals like Bert who are frequently law breakers should be also be subjected to an education in their correction facilities aside from the terms that they serve (Kline, 1987). According to Lester and Van Voorhis’ book â€Å"Psychoanalytic therapy†, criminal convicts like Bert should not be subjected to environments that derail their development. Since most these convicts are not well-equipped with the right attitude to stay off the streets, correctional facilities should be able to provide such services that will be able to aid them to commit to reformation. Support from family and close friends should also be encouraged though for most of these convicts, it would seem quite difficult as most of them don’t have a strong support base (p. 122). From Kline’s book â€Å"Psychoanalysis and crime†, it has been suggested that creating a viable environment for these convicts when they got out is necessary as that will sustain their progress for development and would make them not want to seek the confines of the prison walls as they will be able to feel part of the society again. This entails releasing them in an environment where temptations would not abound and provide them with jobs that does not degrade their sense of being (p. 60). Analyzing Bert’s case in the psychoanalytic perspective has provided grounds on in which correctional facilities should be able to help convicts to maintain a reformed life.

Free Essays on Where The Red Fern Grows~summary~

Billy lives on a farm. He wants two good coonhounds very badly, but his Papa cannot afford any. Billy works hard, selling fruit and bait to fishermen, so eventually he has enough money for the dogs. He gives the money to his grandfather, who orders the dogs for him. Billy sneaks off in the middle of the night to go to town and pick them up. While in town, other children pick on him, but he stands up for himself and is helped by the sheriff. On his way home, he and his two pups sleep in a cave. Outside, they hear a mountain lion, and the pups bravely howl back. He decides to name them Old Dan and Little Ann. He can see that Old Dan is very brave, and that Little Ann is very smart. Once home, he wants to begin training them. He has to have a raccoon hide to train them with. His grandfather shows him a way to set a trap that will catch even a clever coon. Just when he is about to give up on the traps, he catches a coon. The next day he begins to train Old Dan and Littl! e Ann. By the time raccoon season starts in the fall, they are ready. On the first night, his dogs tree a coon in the biggest tree imaginable. Billy immediately sees that it will take days to cut down. He is determined to cut it down, because he told his dogs that if they could tree a coon he would take care of the rest. His dogs are counting on him. His parents bring him food. His grandfather shows him how to make a scarecrow, to keep the coon in the tree so he can go home and eat dinner. When the big sycamore finally falls and his dogs catch the coon, he is very proud. Billy goes coon hunting almost every night. His father relieves him of his chores, and Billy gives him the money from his coonskins. Sometimes, coons try to trick his dogs, and Old Dan gets into trouble. One night, Dan gets stuck in a muskrat hole. Another night, he climbs a tree. Little Ann is usually too smart to get into trouble, but one night, after the first snowfall, she falls through the ice on the ... Free Essays on Where The Red Fern Grows~summary~ Free Essays on Where The Red Fern Grows~summary~ Billy lives on a farm. He wants two good coonhounds very badly, but his Papa cannot afford any. Billy works hard, selling fruit and bait to fishermen, so eventually he has enough money for the dogs. He gives the money to his grandfather, who orders the dogs for him. Billy sneaks off in the middle of the night to go to town and pick them up. While in town, other children pick on him, but he stands up for himself and is helped by the sheriff. On his way home, he and his two pups sleep in a cave. Outside, they hear a mountain lion, and the pups bravely howl back. He decides to name them Old Dan and Little Ann. He can see that Old Dan is very brave, and that Little Ann is very smart. Once home, he wants to begin training them. He has to have a raccoon hide to train them with. His grandfather shows him a way to set a trap that will catch even a clever coon. Just when he is about to give up on the traps, he catches a coon. The next day he begins to train Old Dan and Littl! e Ann. By the time raccoon season starts in the fall, they are ready. On the first night, his dogs tree a coon in the biggest tree imaginable. Billy immediately sees that it will take days to cut down. He is determined to cut it down, because he told his dogs that if they could tree a coon he would take care of the rest. His dogs are counting on him. His parents bring him food. His grandfather shows him how to make a scarecrow, to keep the coon in the tree so he can go home and eat dinner. When the big sycamore finally falls and his dogs catch the coon, he is very proud. Billy goes coon hunting almost every night. His father relieves him of his chores, and Billy gives him the money from his coonskins. Sometimes, coons try to trick his dogs, and Old Dan gets into trouble. One night, Dan gets stuck in a muskrat hole. Another night, he climbs a tree. Little Ann is usually too smart to get into trouble, but one night, after the first snowfall, she falls through the ice on the ...

NBA Competing on Global Delivery with Akamai OS Streaming

NBA Competing on Global Delivery with Akamai OS Streaming Using Porter’s competitive forces model, analyse the NBA’s market situation. How does the use of Akamai help the NBA compete in this market? To analyse the NBA’s market situation, it is necessary to refer to Porter’s competitive forces model and to examine the position in relation to such criteria as the industry rivalry, buyer power, suppliers’ power, threat of substitutes, and threat of mobility.Advertising We will write a custom case study sample on NBA: Competing on Global Delivery with Akamai OS Streaming specifically for you for only $16.05 $11/page Learn More Referring to the industry rivalry force, the National Basketball Association should state its position within the industry and compete with the other North American sports leagues such as the Major League Baseball, the National Hockey League, and the National Football League along with a range of the other professional leagues around the world. According to the criterion of the buyer power, the NBA depends on the audience’s interest in the league’s activities and provide media content. The influence of the suppliers’ power on the NBA is rather low. The NBA is not dependent on the potential substitutes because of the tremendous competitive advantage. Focusing on the threat of mobility, it is possible to state that it is rather low, but any problems with the access to the NBA media content because of the website’s drawbacks can lead to decreasing the number of the potential audience. Thus, the use of Akamai helps the NBA compete within this market because the company’s services are used to guarantee the provision of the high-quality content around the globe of regardless the location of the user. That is why the high-quality content reaches the global audience easily, contributing to the NBA competitive advantage. The necessary NBA content can be accessed by users more comfortable and quicker in comparison with using the services operated by the other leagues because Akamai relies on multiple distribution channels. Using Porter’s generic strategies model, what do you think is the NBA’s overall strategy or strategies? Following Porter’s generic strategies model, it is possible to state that the NBA’s overall strategy is the differentiation strategy. Having analysed the target scope, it is essential to note that the NBA is oriented to broadcast the important information about the league as well as all the associated media content widely, focusing on the global audience.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The NBA avoids possible differences in relation to the audience’s access to the media content and uses the Akamai services in order to add to the leading company’s strategies according to which the advertising and promotion a re realised in all the regions globally, and the company’s success depends on the effective self-provision. Furthermore, the chosen advantage is the product uniqueness that is why the Akamai services are discussed as efficient to contribute to the aspect of the product uniqueness. Why is it important that all fans in the world have the same experience? Following the NBA mission and goals, it is necessary to state that all the fans around the globe should have the same experience while sharing the NBA media content. This fact is important because the league orients to the global audience, and it is important to avoid and overcome any discrimination associated with the possibilities of users from different countries to access the video, games, or interviews broadcasted widely. The NBA works to increase the number of the target audience globally; that is why it is significant to provide the media content to all the world regions in order to give the users equal opportunities. As a result, to increase traffic levels and visits to the NBA’s website, it is necessary to use the Akamai efficient services dependent on the developed technologies. Why is it important that individual franchise owners can build, manage, and distribute on the NBA platform their content? The services provided by Akamai enable the individual franchise owners to manage and distribute their content on the NBA platform more actively and efficiently, contributing to the increased competitive advantage and owners’ potential. The NBA provides the individual franchise owners to distribute the independent content in order to strengthen them and to attract more people as the target audience. Thus, the business model, which is used by the NBA and improved with references to the use of the Akamai services is useful to provide more advantages for the individual franchise owners to develop their activities. The individual franchise owners rely on the developed business strategies and the promotion of the business activities with the help of the NBA platform and the Akamai services can be discussed as the necessary condition to speak about the overall success of the NBA as the leading league within the industry.Advertising We will write a custom case study sample on NBA: Competing on Global Delivery with Akamai OS Streaming specifically for you for only $16.05 $11/page Learn More The word ‘partnership’ appears several times in the video. Who are the NBA’s partners? How does the concept of a strategic ecosystem apply to the NBA’s partnership strategies? The increased competitive advantage of the NBA directly depends on the league’s effective partnership with the Akamai computing platform and server to distribute different types of content globally. From this point, Akamai is one of the NBA’s partners. The advantages of such partnership are in providing the NBA with the opportunities to respond to t he increased demand for the league’s media content and to provide the high-speed and high-quality channels for the users worldwide to receive the access to the necessary material without references to the region, but depending on Akamai servers located globally. The other NBA’s partners are the companies and suppliers which support the NBA’s activities, advertising, and promotion. In this case, the NBA can build the effective partnership relations with suppliers and distributors to support the worldwide spreading of the NBA’s media content and with different companies which operate in the sphere of the technological support as Akamai does. As a result, while developing the effective and developed partnership relations with different companies operating in various associated industries, the NBA creates the specific strategic ecosystem which is successful to contribute to the progress of all the companies working within the ecosystem. From this point, refer ring to the example of the relations with Akamai, it is possible to note that the NBA relies on the developed strategic ecosystem as the source of the necessary support. For instance, the Akamai services guarantee the effective management of a variety of media assets. The distribution of the content is equally efficient in different countries around the globe. That is why the NBA intends to develop the partnership relations with Akamai in order to contribute to the NBA website’s development and to the further attraction of the global audience. The Akamai services are efficient, reliable, and based on innovative technologies. That is why, such relations with the Akamai services can be discussed as advantageous for the NBA.

Coloring the TDBGrid Delphi Component

Coloring the TDBGrid Delphi Component Adding color to your database grids will enhance the appearance and differentiate the importance of certain rows or columns within the database. Well do this by focusing on DBGrid, which provides a great user interface tool for displaying data. Well assume that you already know how to connect a database to a DBGrid component. The easiest way to accomplish this is to use the Database Form Wizard. Select the employee.db from the DBDemos alias and select all fields except EmpNo. Coloring Columns The first and easiest thing you can do to visually enhance the user interface is to color individual columns in the data-aware grid. Well accomplish this through the TColumns property of the grid. Select the grid component in the form and invoke the Columns editor by double-clicking the grids Columns property in the Object Inspector. The only thing left to do is specify the background color of the cells for any particular column. For text  foreground color, see the font property. Tip: For more information on Columns editor, look for Columns editor: creating persistent columns in your Delphi help files. Coloring Rows If you want to color the selected row in a DBGrid but you dont want to use the dgRowSelect option (because you want to be able to edit the data), you should instead use the DBGrid.OnDrawColumnCell event. This technique demonstrates how to dynamically change the color of text in a DBGrid: procedure TForm1.DBGrid1DrawColumnCell (Sender: TObject; const Rect: TRect; DataCol: Integer; Column: TColumn; State: TGridDrawState);beginif Table1.FieldByName(Salary).AsCurrency36000 then DBGrid1.Canvas.Font.Color:clMaroon;DBGrid1.DefaultDrawColumnCell (Rect, DataCol, Column, State);end; Heres how to dynamically change the color of  a row in a DBGrid: procedure TForm1.DBGrid1DrawColumnCell (Sender: TObject; const Rect: TRect; DataCol: Integer; Column: TColumn; State: TGridDrawState);beginif Table1.FieldByName(Salary).AsCurrency36000 then DBGrid1.Canvas.Brush.Color:clWhite;DBGrid1.DefaultDrawColumnCell (Rect, DataCol, Column, State);end; Coloring Cells Finally, heres how to change the background color of the cells of any particular column, plus the text foreground color: procedure TForm1.DBGrid1DrawColumnCell (Sender: TObject; const Rect: TRect; DataCol: Integer; Column: TColumn; State: TGridDrawState);beginif Table1.FieldByName(Salary).AsCurrency40000 thenbegin DBGrid1.Canvas.Font.Color:clWhite; DBGrid1.Canvas.Brush.Color:clBlack;end;if DataCol 4 then //4 th column is Salary DBGrid1.DefaultDrawColumnCell (Rect, DataCol, Column, State);end; As you can see, if an employees salary is greater than 40 thousand, its Salary cell is displayed in black and the text is displayed in white.

Financial strategy Coursework Example | Topics and Well Written Essays - 1500 words

Financial strategy - Coursework Example Since, the two world wars and lot of scientific inventions, risk has been defined in many ways. When we go to the bus stand for the bus, various degree of risk is involved having different severity of accidents. Sometime risks may be voluntary or some risks may be trivial while other may be fatal. It may be argued that since the birth of civilization only risks have been responsible for any major advancement. In ancient times, risk taking cavemen lived with abundance of food and risk averse starved to death. In terms of financial theories and practice the risk management is equating risks with hedging. Organizations prosper not by avoiding risks but by managing risks to their own advantage. Ancient trade across the continents flourished because of risk taking and management. The key reason for Europe’s prosperity is risk management. In 1921, Frank Knight summarized the difference between risk and uncertainty with an example. â€Å"Two individuals drawing from an urn of red an d black balls; the first individual is ignorant of the numbers of each color whereas the second individual is aware that there are three red balls for each black ball. The second individual estimates (correctly) the probability of drawing a red ball to be 75% but the first operates under the misperception† (Knight 1921). ... Risks provide opportunities for a good outcome out of a bad situation. If the reward outmatches the hazard of disaster, people are ready to take risks. If a firm is conscious of the risks it is undertaking, it is going to formulate strategies based on the decision. The Institute of International Finance (December 2009) has defined risk culture as â€Å"as the norms and traditions of behavior of individuals and of groups within an organization that determine the way in which they identify, understand, discuss, and act on the risks the organization confronts and the risks it takes† (2009). It is essential that the risks are challenged by the core group of decision makers with an objective to develop a spirit of nurturing buoyancy and inculcating an environment for continuous improvement, in line with the strategic aims of the organization. Business risk is related to political and social environment of a country. During the war on terror and US attack on Iraq, the air travel bec ame very risky and the insurance cost and cost of flying were many times higher than the previous prevailing rates. Similarly, in today’s world condition in Afghanistan is a threat for any kind of manufacturing business. Thus, no company would like to establish a factory in Afghanistan. Therefore, we observe that a lot of trading is going on these days in this region of the world. The uncertainty of terrorism has created a status of risk in almost the entire world for the last couple of decades, more appropriately since US invasion of Iraq. As a result of risk investment has moved out from this region. Despite the fact the countries in these regions are offering business incentives to the investors but in view of the high risk for capital and life,

Physiology and Function Essay Example | Topics and Well Written Essays - 250 words

Physiology and Function - Essay Example This condition is tied to deficiencies in the production of red blood cells in its key factory, the bone marrow, and can be caused by a number of factors, including kidney disease in chronic form, cancer, and rheumatoid arthritis, even as some forms of anemia, such as sickle cell anemia, can be passed on from parent to offspring (ADAM, 2012). Basophils: Basophils are a type of white blood cells in the human body (Childrens Hospital and Health System, 2012). As a white blood cell type, its function basically revolves around protection of the body from infections and diseases. This is done via basophils eating up invading pathogens. Their cytoplasmic contents include grain-like substances, and basophils in general have a dark purple to black hue in Wright stains (MedFriendly, n.d.). Eosinophils: Eosinophils are likewise a type of white blood cells in the human body (Childrens Hospital and Health System, 2012). It is also disease and infection fighting. While they are beneficial in attacking foreign bodies, they can cause disease in large amounts, including asthma, and parasitic diseases (MedicineNet, 2012). Erythrocytes: Erythrocyte is another term for red blood cells, and in general, as already discussed above, erythrocyte are involved in oxygen transport throughout the body, emanating from the lungs. They also are the carriers for carbon dioxide. (Childrens Hospital and Health System, 2012). Normal erythrocytes are biconcave, yellow in color, and has in it the hemoglobin oxygen carriers. Abnormal types include basophilic and hypochromic erythrocytes, the latter a condition where red blood cell counts are lower than normal, healthy values (Saunders,

Analytital ( compare northwest airlines and jet blue with american Essay

Analytital ( compare northwest airlines and jet blue with american airlines - Essay Example Additionally, it maintains focus city operations at Indianapolis International Airport and Seattle-Tacoma International Airport. As of 2006 Northwest was the worlds sixth largest airline in terms of domestic and international scheduled passenger miles flown and the U.S.s sixth largest airline in terms of domestic passenger miles flown. In addition to operating one of the largest domestic route networks in the U.S., Northwest carries more passengers across the Pacific Ocean (5.1 million in 2004) than any other U.S. carrier, and carries more domestic air cargo than any other American passenger airline. Northwest Airlines regional flights are operated under the name Northwest Air link by Mesaba Airlines, Pinnacle Airlines, and Compass Airlines. Northwest Airlines is currently a minority owner of Midwest Airlines, holding a 40% stake in the company. Its frequent flyer program is called World Perks. Northwest Airlines tagline is "Now youre flying smart." On April 14, 2008, Northwest annou nced it will be merging with Delta Air Lines, subject to regulatory review. If approved, the new airline will retain only the Delta Air Lines name and brand, and become the largest airline in the world. Northwest Airlines was founded on September 1, 1926 by Colonel Lewis Brittin, under the name Northwest Airways. Like other early airlines, Northwests focus was not in hauling passengers, but in flying mail for the U.S. Post Office Department. The fledgling airline established a mail route between Minneapolis and Chicago. Northwest began flying passengers in 1927. In 1928, the airline started its first international route with service to Winnipeg, Canada. The airlines operations were expanded to smaller cities in the region by the end of the decade. In 1931 Northwest sponsored Charles and Anne Lindbergh on a pioneering flight to Japan, scouting what would become known as the Northwest Airlines Great Circle route, and proving that flying through Alaska could save as

Are women full citizens If not, what might they require in order to Essay

Are women full citizens If not, what might they require in order to become so - Essay Example Feminist women scholars have been time and again pointed out by fuming mass of religious men as heretic and rebels who need to be stopped before they overtake the society with their cunning charms. An example of this is the unusual act of Dr. Amina Wadud who in an attempt to garner the Muslim women’s rights to full citizenship and to be an active participant in the ritual of public player, made the decision to lead men and women during prayer in New York City causing huge uproar from the Muslim scholars. She was labeled as a highly hostile and controversial scholar by Muslim men around the world which suggests that access to rights equivalent to men is an ongoing battle for women. However, this is not an issue confined to the Muslim society because many Jewish women holding Tefillah groups and eager to play the role of active participants in the formal ritual of Jewish prayers have also been vigorously criticized and unappreciated in the Jewish world. This shows that constitut ional culture in the US has encouraged the Muslim and Jewish women to explore their religious law and â€Å"open it to principles of gender equality†.... However, this is not an issue confined to the Muslim society because many Jewish women holding Tefillah groups and eager to play the role of active participants in the formal ritual of Jewish prayers have also been vigorously criticized and unappreciated in the Jewish world. This shows that constitutional culture in the US has encouraged the Muslim and Jewish women to explore their religious law and â€Å"open it to principles of gender equality† (Lahav 2009). It is absolutely horrid that many acts of these women who anxiously struggle for full citizenship are met with giant waves of mercilessness and evil plots both in the religious communities and contemporary settings. Women’s liberation and citizenship is not just an issue of the conservative states because research also cites that â€Å"contemporary American cities actually contain many injustices† (Young 2011: 13). Research literature suggests that throughout most of human history, women from different clas ses, ethnicities, races, and religions were and continue to be denied state citizenship due to multiple reasons. Within UK, â€Å"the dominance of a Catholic ideology firmly placing women in the home† (Thane & Breitenbach 2010: 3) led to male dominance and exclusion of women as full citizens until the 1960s. However, movements like the right-to-work movement beginning in the twentieth century coupled with changes in the Western capitalism and the trends of multinational corporations have effectively worked to bring down many formal barriers and have ended this exclusion in many societies. Still, citizenship is one of many social practices in which gender segregation is â€Å"ancient and stubbornly persistent† (Friedman 2005: 4). Not only the political rights

The book fight club Research Paper Example | Topics and Well Written Essays - 1000 words

The book fight club - Research Paper Example The story is told by the Narrator, a man who does not ever give out his name. Instead, he creates a separate identity calling himself Tyler Durden so that he can have a means of escape from the society and its conformities. The men believe that they have no aspects of masculinity seeing the way they are dependent on the commodities that the world has to offer to make their lives much easier, how they do not have to actually work for anything and yet everything gets done. To be thought of as important by the others, they just need to have the right product by the right company. They have nothing concrete to do, no battles to fight and win, the only purpose is to seek out the meaning of their life and why they feel a constant sense of doubtfulness about their masculinity. Right in the beginning, we are introduced to the â€Å"Remaining Men Together† that is a support group for men who have testicular cancer and so have been emasculated. This is a not so subtle way of representin g masculinity dying in the society. Having certain important parts of their bodies missing leads to them feeling less of themselves and having troubled – if any – love lives, which results in a further beating of their emotions. One of the men shares his story about how his ex-wife finally has a child with her new husband since she could obviously not conceive with her first husband. To most men, the ability to play their part in creating a child is what makes them worthy of their sex even if they do nothing to help bring them up in the future. However, if anyone is sterile, they are assumed as being weak and having no manhood. This is just one of the mindsets that the society has settled down in our minds. The men realize how easy their lives are and they hate it. They are determined to strip off every outside influence that has made a mark on their bodies and minds and become their own man. They no longer want to be led by the society and its rules or its â€Å"obse ssive concern with profits, consumption, and the commercial values that underlie its market-driven ethos† (Giroux). They show their inner masculine qualities by deciding to open the Fight Club. Ironically, fulfilling the stereotypes about the males regarding how man’s answer to everything was violence, they decide to fight it out. The rationalization given being that the pain and the adrenaline they felt helped them keep themselves on their toes. The wrestling meant that they were fighting for something solid; they had to work over something. They had to hurt the other person if they wanted to gain the least amount of injuries, they had a goal in mind now and that made them feel important. As the Narrator says â€Å"You weren't alive anywhere like you were alive here †¦ who you were in fight club is not who you were in the rest of the world† (Palahniuk). Winning a fight showed that they were men with great physical talents, that they were stronger than most. There were no battlefields to fight in, no wars to win. Soldiers were not required but the men were all trained enough to be able to respond in a similar situation if the need ever arose. It is through the pain that they put themselves through that they discover their selves. They are â€Å"set free to construe (their) own fears, to baptize them with privately chosen names and to cope with them on (their)

Rewrite the essay to meet the english academic standards

Rewrite the to meet the english academic standards - Essay Example This method provides social workers with the opportunity to focus on the individual needs, in order to bring about changes to the service user situations. The effectiveness of the task centered approach is clearly identified from the great outcomes at the end of the intervention. There is an element which is usually important to recognize when using the task centered approach; that is, when service users are facing problems they have also the means to solve them. The social worker in partnership with the service users will come across solutions to the problem in question. This approach provides social workers with a duty to empower service users while using it. (Coulshed & Orme, 2006). Moving on to the task centered principles, mutual clarity between worker and service user about the purpose of their interactions is required. This is achieved when good communication is maintained between them. This model is very practical as it allows the service user to make smaller and meaningful changes. This model is limited as it can not deal with more than three issues in order to ensure effectiveness of the intervention. It requires work in partnership and maximum collaboration from the service user. The intervention should be measured to ensure its effectiveness. The social worker and service user should evaluate the outcomes to ensure positive results (Healy, 2005) When applying the task centered model with a clear aim to succeed in the intervention with service users, five sequential phases it should be observed; both the social worker and service user should be absolutely clear of the process of the intervention. Clear explanations must be provided by the social worker, including the time limited process. In addition, the social worker should explore the service user’s situation to find out why the problems have occurred, and identify the relevant issues needed to be addressed. Moving on to the second phase of the intervention, once all the

The book fight club Research Paper Example | Topics and Well Written Essays - 1000 words

The book fight club - Research Paper Example The story is told by the Narrator, a man who does not ever give out his name. Instead, he creates a separate identity calling himself Tyler Durden so that he can have a means of escape from the society and its conformities. The men believe that they have no aspects of masculinity seeing the way they are dependent on the commodities that the world has to offer to make their lives much easier, how they do not have to actually work for anything and yet everything gets done. To be thought of as important by the others, they just need to have the right product by the right company. They have nothing concrete to do, no battles to fight and win, the only purpose is to seek out the meaning of their life and why they feel a constant sense of doubtfulness about their masculinity. Right in the beginning, we are introduced to the â€Å"Remaining Men Together† that is a support group for men who have testicular cancer and so have been emasculated. This is a not so subtle way of representin g masculinity dying in the society. Having certain important parts of their bodies missing leads to them feeling less of themselves and having troubled – if any – love lives, which results in a further beating of their emotions. One of the men shares his story about how his ex-wife finally has a child with her new husband since she could obviously not conceive with her first husband. To most men, the ability to play their part in creating a child is what makes them worthy of their sex even if they do nothing to help bring them up in the future. However, if anyone is sterile, they are assumed as being weak and having no manhood. This is just one of the mindsets that the society has settled down in our minds. The men realize how easy their lives are and they hate it. They are determined to strip off every outside influence that has made a mark on their bodies and minds and become their own man. They no longer want to be led by the society and its rules or its â€Å"obse ssive concern with profits, consumption, and the commercial values that underlie its market-driven ethos† (Giroux). They show their inner masculine qualities by deciding to open the Fight Club. Ironically, fulfilling the stereotypes about the males regarding how man’s answer to everything was violence, they decide to fight it out. The rationalization given being that the pain and the adrenaline they felt helped them keep themselves on their toes. The wrestling meant that they were fighting for something solid; they had to work over something. They had to hurt the other person if they wanted to gain the least amount of injuries, they had a goal in mind now and that made them feel important. As the Narrator says â€Å"You weren't alive anywhere like you were alive here †¦ who you were in fight club is not who you were in the rest of the world† (Palahniuk). Winning a fight showed that they were men with great physical talents, that they were stronger than most. There were no battlefields to fight in, no wars to win. Soldiers were not required but the men were all trained enough to be able to respond in a similar situation if the need ever arose. It is through the pain that they put themselves through that they discover their selves. They are â€Å"set free to construe (their) own fears, to baptize them with privately chosen names and to cope with them on (their)

Anna M. Kerttulas Antler on the Sea Essay Example for Free

Anna M. Kerttulas Antler on the Sea Essay In her book, Antler on the Sea, Kerttula discusses how Soviet government policies aimed to integrate the northern peoples of the USSR in reality helped the groups to maintain their identities as they defined themselves in opposition to one another. According to Kerttula, in Sireniki, the very system that sought to control and homogenize difference reinforced it (155). Kerttula illustrates the extent to which much of the native culture has survived the Soviet period. This trend is particularly prevalent as Kerttula progresses through her descriptions of Yupik, Chukchi, and Newcomer lifestyle and practices. The development of collective group identity and cultural transformation among northern indigenous peoples in the Soviet Union was heavily influenced not only by the structure of the Soviet system but also by the provoking of oppositional relationships between the groups. Kerttula effortlessly explains the interrelationships of the many opposing forces: tundra and sea, Yupik and Chukchi, natives and newcomers, and old and new ways in the North. These relationships were based on prior cultural forms, symbols and meanings but as a result of Soviet influence, local cultural boundaries were transformed and the ensuing dialogue of difference was encouraged. As Kerttula asserts, it is the we/they dichotomy that for many anthropologists defines an ethnic group (152). The Soviet state, with its ideological, political and economic goals, changed the structure of the interactions between local and immigrant groups, but was unable to change the cultural content of their discourse. According to Kerttula, historically the Yupik, Chukchi and Russians had very limited contact with one another. Prior to forced relocations and settlements that occurred with collectivization, the Yupik lived at Sireniki and met with the Chukchi occasionally for the limited purpose of trade (123). After collectivization the three groups were forced to live in a single locality and thus new dynamics and an increased frequency of interaction changed the ways that the Yupik, Chukchi, and Russians (Newcomers) worked together. As Kerttula points out, the cultural definitions and descriptors of the three groups were not always in agreement; quite often they clashed. For example, Kerttula generalizes on the Newcomers feelings of superiority to the Yupik  and Chukchi. Accordingly, this attitude of superiority was intensified by the physical separation of the three groups, both at their place of work and in their free time (152). It was the Newcomers familiarity with the Russian social structure that in fact led to this so-called superiority (152). Similarly, the Yupik and Chukchi view one another as, for instance, receiving favoritism in their language instructions at the local school. Parents are cited as believing the other group to be receiving better instruction: The Chukchi complained that there were more Yupik lessons than Chukotkan, and Yupik parents complained that the quality of the Yupik lessons were substandard (154). Unlike the Nivkhi described by Grant, the Yupik and Chukchi do not express a feeling of culturelessness. As both groups have been able to maintain dominant aspects of their traditional lifestyle, the sense of loss seemed to be felt to a lesser degree (although they did lose language and the freedom to hunt whales). The Yupik could remain defined primarily by their affinity for and connections to the sea while the Chukchi could remain defined primarily by their affinity for and connections to the tundra. Modernity within the community of Sireniki was integrated in a way that was advantageous for the people. As Kerttula points out however, instead of questioning the governments socialist tactics, most looked more locally to the others in the community (151, 153). These collective identities enabled the Yupik, Chukchi, and Newcomers to accept Soviet designated social and economic conditions by infusing these conditions with their own cultural knowledge, making them meaningful and reproducible. Kerttula captures the disharmony tolerated by indigenous people in the Soviet period as they retained their own beliefs and customs while adapting to altered environments and economic change. As Kerttula reiterates many times, modernity has brought many unexpected and unwelcome changes. Most importantly, the state has used the discourse of modernity to once again portray indigenous peoples in a way that suits their needs as an administrative body. Instead of looking to the heavy restrictions enforced by the Soviet system, the people of Sireniki focused their discourse on each other and looked to each other as being a source of some of their problems (155). Toward the end of her book, Kerttula points out a fundamental problem in the collective group definitions: if the groups defined their identities in opposition to one another, what happens to those who married cross-culturally? In her discussion of possible division within the community into different associations, this problem came to the forefront. As one of Kerttulas informants asks, to which association would the child of both Yupik and Chukchi parents belong? (152). Theoretically the three groups existed separate from the other two. In reality though, intermarriage and the creation of friendships were relatively common inter-ethnically. The individual cultures were not only subjective, but also laden with political and social questions of identity and personhood (151). What makes the case at Sireniki unique is that three distinct cultural groups were essentially forced to live together in relative peace while each simultaneously sought to prolong and promote their own traditional practices and beliefs. Kerttulas investigation and analysis is of how collective identities were facilitated among the two indigenous groups and one immigrant group in order to maintain their cultures in the face of rapidly changing social and material circumstances (153).

Organisational Issues in Health and Social Care Services

Organisational Issues in Health and Social Care Services People do not care about organizational boundaries when seeking support or help and expect services to reflect this. From Our Health, Our Care Our Say (DoH 2006) Introduction Since the introduction of the 1990 NHS and Community Care Act it is no longer an option for human services and public sector organizations to work in isolation. Handy (1997,p.18) has argued against the introduction of market principles into areas that are generally regarded as the responsibility of the state welfare system, because this could harm those who most needed the help. This merging of human services with public sector organisations has meant that an increasing number of human service workers are employed in the private sector. Human Service organisations are comprised of medical staff and others such as administrators, cooks and cleaners employed by the NHS or in private practice, the police and probation services, the prison services, social services, and to a limited extent those working in education. This assignment will look at some of the effects of current policies on the organisational structures of health/social care and partner organisations. There will be an exami nation of issues of power and inequality in organisations and an exploration of the notion of partnership working. The success of such policies will be explored through the experiences of people with mental health problems. Partnership working is most especially relevant to people with mental health problems and the Government has promised greater concentration on this in the White Paper that came out this year, Our Health, Our Care, Our Say.[1] Organisations Social services and Health Care are what as known as human service organisations, that is to say they are there to help people in need.. People working in social services generally do so because they are motivated by a desire to see that people receive the kind of help that they need in times of crisis. Human Services operate in the public and the private sector. Which ever area a person chooses they are more likely to find work in the human services if they have had some prior experience either work placements or some other voluntary role. In social work prior community involvement is seen as an asset. Most social workers work in the public sector. Social Services used to be known as personal social services because social workers are most often concerned with individuals and the care they may need. Social work is both typical, and untypical, of the human services in general, firstly its aim is just that, providing a service that benefits other people, in the second instance social workers are more likely to be involved with people on an individual basis and often for a prolonged period of time. This last is not always the case in other areas of the human services (Postle et al, 2002). A social worker who works in mental health may find themselves attached to a hospital as well as to social services. This means inter-agency working which is becoming more common in the human services especially as the legislative and policy requirements of the1990 Care in the Community Act have increasingly focused on health and social care agencies working collaboratively with service users. This is more common since the Government directive ofJuly of last year.[2] Parliament decides what social work consists of. This is because the Government defines the statutes that outline social workers responsibilities. This includes the people that social workers have a responsibility towards, the manner in which such responsibilities should be undertaken, and the legislative framework that underpins the professional practice of social work (Brayne and Martin, 1995). Social workers have to abide by the code of practice of the General Social Care Council and are bound by the 1970 Social Services Act as it applies to local authorities. Since 1998 social workers are bound by law to respect the inherent rights and dignity of every human person. Social workers also have to be familiar with the 1990 Community Care Act and subsequent legislation. Local Authorities are bound by the Disability Discrimination Act and a social worker working with people with mental health difficulties would also need to know the terms of this Act and the Chronically Sick and Disabl ed Persons Act of 1970. These inform social workers’ decisions. These may involve having to define mental health difficulties and in what ways their needs might best be addressed. This is particularly so for Approved Social Workers. The social worker has a duty to perform an assessment of need for anyone in the local area who is defined as having a disability, including mental health difficulties, whether the or not the person requests a service. Ongoing training and development for professional social workers is a requirement of the job. If you work in disabilities, particularly mental health then some social workers may specialize in mental health and work towards becoming an Approved Social Worker. Social workers operate within a framework that is informed by human rights and social justice and they need to be aware when the code of practice within which they carry out their duties, is contrary to the values underlying this framework. Within social work it is generally accepted that all people are of value and are entitled to be treated justly and humanely. Social workers who deal with users who have mental health problems now have to work closely with the NHS and with Voluntary Organisations such as Mind. Partnership Working The Griffiths Report (1988) which was commissioned by the Government recommended that local authorities should be enablers, who organized and directed community care. Local authorities would no longer be the sole providers of care, but would have their own budgets to purchase care from the private and voluntary sector. This became law under the 1990 Act the terms of which resulted in an increase in the burden of care for the social work profession. The Act emphasized partnership working in all areas and social workers now have to consult with professionals from all walks of life in order to adequately provide for their clients needs. The introduction of new working practices and the necessity for a greater degree of inter-professional working has meant that the autonomy that social workers once enjoyed has been increasingly eroded (Challis, 1991). Molyneux’s (2001)[3] research into successful inter-professional working established three areas that contributed to the success of such partnerships. Staff needed to be fully committed to what they were doing and personal qualities of adaptability, flexibility and a willingness to share with others were high on the agenda. Regular and positive communication between professionals was seen as endemic to good working relationships and service delivery. This communication was enhanced (in the study) by the instigation of weekly case conferences which allowed professionals to share knowledge and experiences (2001, p.3). Handy (1993) has argued that in order to work successfully together organisations need to find optimal or win/win solutions rather than have their discussions end in wasteful conflict. A major problem with inter-professional working in organisations is that both sides can become defensive of their positions (See Handy, 1993 ch.12). This is particularly the case whe n people are asked to do something that goes against their professional ethics and beliefs (see ch.15). Thus a social worker would not be happy with solutions that did not, in their view, serve to empower clients with mental health difficulties. The inclusion and empowerment of this client group is a central feature of the 2006 White Paper which promises ongoing care not just for those with mental health difficulties but for their carers as well.[4] These arguments are endorsed by Laidler (1991) because in order to be successful across professional boundaries people need to be confident of their own professional role in order to be able to step outside their professional autonomy and work successfully with others. It helps in inter-professional working if all members of the team are particularly focused on the needs of the service user. In this way people reach ‘professional adulthood’. According to Norman (1999) mental health professionals working within teams were reluctant to obey decisions taken by others because it threatened their own professional judgement. It does not help matters when the Government stresses the need for inter-professional working and then sets separate performance targets, rather than integrated group ones. Hudson (2001) maintains that because government has been concerned to prioritise choice and introduce competition in public services this has left professionals with feeling of insecuri ty and a lack of faith in organisational infrastructure. It would be a cruel irony if, having achieved the holy grail of local integrated working, the government, with Sedgefield’s local MP at its head, now puts in place measures that result in its dismantling (Hudson 2005 no page number).[5] At the same time Government expects social care and health professionals to work closely and collaboratively with service users. In social services there is quite an emphais on encouraging the user to participate in decisions regarding their care. In the NHS however, many professionals still work with the idea that the patient does as the professional tells them. This makes it difficult for social workers who are encouraged to lessen the power differential between themselves and service users, this means engaging in anti-oppressive practice e.g. accessible language, and doing what they can to empower individuals. Social Services and Mind Mind is a charity that works for those with mental health problems. The charity points to the fact that the right kind of social care can go a long way to alleviating the stress that mental health difficulties may bring, and which are often ignored. Until recently mental health users received only a small amount of social care and were often referred for medical help alone. However, this course of action neglected the enormous social consequences that mental health difficulties can have and how it affects family units. This is beginning to change and there is an acknowledgment that greater availability of social care would go a long way to alleviating such difficulties. This has been recognised to some extent in the Government paper Our Health, Our Care, Our Say. The increasing Government emphasis on partnership working should lead to a greater connection between those who work for social services, the NHS and the charity called Mind. Conclusion This assignment has looked at organisations and the structure underlying social service departments and other human service organisations such as the NHS and the charity called Mind. It has looked at the legislative and policy contexts as they apply to people who need social care and who may also have mental health problems. It has looked at partnership working and how the responsibilities that are incumbent upon social workers are intended to minimalise inequalities and to substantially lessen the power differential between service users and service providers. References Griffiths Report (1988) Community Care; An Agenda for Action, London: HMSO Handy, C 1993 Understanding Organisation London, Random House Handy, C 1997 The Hungry Spirit London, Random House Hudson, B. â€Å"Grounds for Optimism† Community Care December 1st 2005 Kirk, S. 1998 â€Å"Trends in community care and patient participation: Implications for the roles of informal carers and community nurses in the United Kingdom† Journal of Advanced Nursing Vol 28 August 1998 Issue 2 p.370 Laidler, P. 1991 â€Å"Adults and How to become one† Therapy Weekly 17 (35) p.4 Molyneux, J 2001 â€Å"Interprofessional team working: What makes teams work well?† Journal of Inter-professional Care 15 (1) 2001 p.1-7 Norman, I and Peck E. 1999 â€Å"Working together in adult community mental health services†: An inter-professional dialogue† Journal of Mental Health 8 (3) June 1999 pp. 217-230 http://www.dh.gov.uk/PublicationsAndStatistics/PressReleases/PressReleasesNotices/fs/en?CONTENT_ID=4116486chk=zOTHS/ http://www.dh.gov.uk/assetRoot/04/12/76/04/04127604.pdf Our Health, Our Care, Our Say 1 [1] http://www.dh.gov.uk/assetRoot/04/12/76/04/04127604.pdf [2] http://www.dh.gov.uk/PublicationsAndStatistics/PressReleases/PressReleasesNotices/fs/en?CONTENT_ID=4116486chk=zOTHS/ [3] Molyneux is a social worker who was part of the inter-professional team on which the study was based. [4] http://www.dh.gov.uk/assetRoot/04/12/76/04/04127604.pdf [5] http://www.communitycare.co.uk/Articles/2005/12/01/51988/Grounds+for+optimism+.html?key=BOB+HUDSON accessed 4/4/06

“Answering Jewish Objections to Jesus: Theological Objections” :: Religion, Jewish Apologetics

In his second volume on Jewish apologetics, Michael Brown answers twenty eight Jewish theological objections. Brown summarizes this book in his preface: Theological objections, treated at length in the current volume, cut to the heart of the differences between traditional Judaism and the Messianic Jewish/Christian faith. They revolved around the nature of God (the Trinity, the deity of Jesus, the person of the Holy Spirit), the nature of man and the need for salvation, and sin and the means of atonement. In sum, these objections claim, â€Å"The religion of the New Testament is a completely foreign religion that is not only un-Jewish but is also unfaithful to the Hebrew Bible.† With regard to cutting â€Å"to the heart of the differences between traditional Judaism and Messianic Jewish/Christian faith,† I really appreciate the way Michael Brown demonstrated in a scholarly and balanced way that the Christian faith was perfectly compatible with the Jewish Tanakh. His discussion on the Trinity (the Tri-unity) was excellent. He demonstrated that the Hebrew word for one, ‘echad, does not necessarily refer to absolute unity and, in fact, could very well refer to compound unity (Page 4). He provides examples from the Hebrew Bible where ‘echad is used of a compound or complex unity as per the oneness of Adam and Eve, the many components of the tabernacle being one â€Å"unified† tabernacle, and the one nation of Israel which is made up of hundreds of thousands of people (5). I loved the way he backed up his discussion of the Shema as referring the concept of uniqueness (Deut. 6:4) by citing the New Jewish Publication Society Version: â€Å"Hear, O Israel! The LORD is our God, the LORD alone† (page 6) Brown demonstrated the deity of Christ by focusing on Him as the Son of God and Word of God, who shares in the divine nature, and who revealed Himself to His people in the Old Testament (15-37). I enjoyed Brown’s treatment of the apparent conflict between the passages which declare that no one has seen God with the other passages which clearly state that God was seen by Abraham, Moses, and Jacob (27-34). As he put it, â€Å"it is Jesus the Messiah—the divine Son, the image of the invisible God, the Word made flesh, the exact representation of the Father’s being—who solves the riddle and explains how someone could really see God, even though God cannot be seen.

Dantes Inferno - A Religious and Morally Challenging Experience :: Divine Comedy Inferno Essays

Dante's Inferno - A Religious and Morally Challenging Experience      Ã‚  Ã‚  Ã‚  Ã‚   Dante Alighieri, one of the greatest poets of the Middle Ages, was born in Florence, Italy on June 5, 1265.   He was born to a middle-class Florentine family.   At an early age he began to write poetry and became fascinated with lyrics.   During his adolescence, Dante fell inlove with a beautiful girl named Beatrice Portinari.   He saw her only twice but she provided much inspiration for his literary masterpieces. Her death at a young age left him grief-stricken.   His first book, La Vita Nuova, was written about her. Sometime before 1294, Dante married Gemma Donati.   They had four children.      Ã‚  Ã‚  Ã‚  Ã‚   Dante was active in the political and military life of Florence. He entered the army as a youth and held several important positions in the Florence government during the 1290's.   During his life, Florence was divided politically between Guelphs and Ghibellines.   The Guelphs supported the church and liked to keep things as they were, unlike the Ghibellines. The Ghibellines were mostly supporters of the German emperor and at the time Dante was born, were relieved of their power. When this change took place, the Guelphs for whom Dante's family was associated took power. Although born into a Guelph family, Dante became more neutral later in life realizing that the church was corrupt, believing it should only be involved in spiritual affairs.      Ã‚  Ã‚  Ã‚  Ã‚   At the turn of the century, Dante rose from city councilman to ambassador of Florence.   His career ended in 1301 when the Black Guelph and their French allies seized control of the city.   They took Dante's possessions and sentenced him to be permanently banished from Florence, threatening the death penalty upon him if he returned.      Ã‚  Ã‚  Ã‚  Ã‚   Dante spent most of his time in exile writing new pieces of literature.   It is believed that around 1307 he interrupts his unfinished work, Convivio, a reflection of his love poetry philosophy of the Roman tradition, to begin The Comedy (later known as The Divine Comedy).   He writes a book called De Vulgari Eloquentia explaining his idea to combine a number of Italian dialects to create a new national language.   In 1310 he writes De Monarchia presenting Dante's case for a one-ruler world order.      Ã‚  Ã‚  Ã‚  Ã‚   Among his works, his reputation rests on his last work, The Divine

Foreign exchange risk Essay

Toyota Motor Corporation is the world’s third largest automaker. It was established in Japan on 28 August 1937. Apart from its 12 plants in Japan, Toyota has 54 manufacturing companies in 27 countries, employs 246700 people and markets vehicles in more than 160 countries. Its capital as at March 2002 was 397 billion yen. Toyota is exposed to the fluctuation in foreign currency exchange as it operates mainly in America, Continental Europe and Britain. It is therefore affected by the fluctuation in the value of the US dollar, the Euro and to a lesser extent the British pound. Toyota’s consolidated financial statements, which are presented in the Japanese yen, are affected by the foreign exchange fluctuation, as all the amounts in the various countries’ currencies have to be translated into yen. Toyota’s primary markets based on unit sales for vehicles for financial year ended March 31 2002 were Japan (40%), North America (32%) and Europe (13%). Toyota is listed on the London, New York and Tokyo stock exchanges. In the normal course of doing business, Toyota employs derivatives financial instruments, including forward contracts and foreign currency options to manage its exposure to fluctuation in foreign currency exchange rates. Toyota does not use derivatives for speculation and trading. (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002) The profitability of Toyota’s operations is affected by many factors including the changes in the value of the Japanese yen against other currencies which Toyota does business. The financial year for Toyota is from 1 April to 31 March. IMPACT OF FOREIGN EXCHANGE RISK ON OPERATION The value of the Japanese yen has fallen generally for the past three years against the dollar and the Euro though there had been periods of  fluctuations. (http://pacific.commerce.ubc.ca/xr/data.html accessed on 14th November 2002). Changes in foreign exchange rate affect Toyota’s revenue, gross margins, operating costs, operating income, net income and retained earnings. Toyota’s cost and liabilities are affected by transaction exposure which relates primarily to sales proceed from Toyota’s non domestic sales produced in Japan. It is also affected to a lesser extent sales proceed from Toyota’s continental Europe sales produced in UK. Toyota’s use of forward exchange rate contracts and currency options is to hedge foreign exchange risk associated with trade receivables denominated primarily in U.S. dollars. Toyota also engages in foreign currency settlements with domestic counter parties. The company enters into forward contracts and purchases currency options (principally euro and dollar) to hedge certain portions of forecasted cash flows denominated in foreign currencies. Additionally, the Company enters into forward exchange contracts to offset the earnings impact relating to exchange rate fluctuations on certain monetary assets and liabilities. The Company enters into forward exchange contracts as hedges of net investments in international operations. This reduces foreign exchange risk and transaction costs in those settlements by handling receipts in the foreign currencies in which they are denominated. Toyota buys supplies from Peugeot in France and is therefore exposed to the Euro exchange rate. It also manufactures engines in Japan for BMW. These inflows and outflows as a result of dealing with these European companies expose Toyota to foreign exchange risks. Cars produced in Japan and other production sites are shipped to Europe and America, which are the major market for Toyota. Toyota has to make a decision as to which currency to price the cars. If the cars are priced in yen in order to avoid foreign exchange risk, Toyota will not be competitive in those markets, as it would have shifted the risk to its customers. If the price is in the domestic currencies Toyota will be exposed to foreign exchange risk. When there is a depreciation or appreciation of the currencies in relation to the yen, Toyota will be torn between changing the price to reflect the change in the exchange rate. This decision will depend on the price elasticity of demand  for cars among other factors. Toyota manages these risks by using forward contracts, money market hedging and option market hedging. Toyota also enters into currency borrowing to address a portion of its transaction risk. Foreign exchange forward contracts are used to limit exposure to losses, resulting from changes in foreign currency exchange rates on accounts receivable and transactions denominated in foreign currencies. Foreign exchange forward contracts, which are designated and effective as hedges of currency, risk on existing assets and liabilities are included as an offset to foreign exchange gain or loss and recorded on the existing assets and liabilities. Foreign currency option is to reduce the risks that are likely to be incurred on account receivable and anticipated transactions denominated in foreign currencies. This has reduced, but not eliminated, the effects of foreign exchange fluctuation. The preparation of Toyota’s consolidated financial statements is in conformity with accounting principles accepted in the United States of America. All assets and liabilities of foreign subsidiaries are translated into Japanese yen at the appropriate year end current rates and all income and expense accounts are translated at rates that approximate those prevailing at the time of the transaction. Toyota therefore uses the temporal method of translation. The resulting translation adjustments are included as a component of accumulated income. Toyota is exposed to translation risk when the results of subsidiaries are translated into yen. The value in yen may not reflect the true value of the subsidiary, as it will also depend on the exchange rate between the two countries at the time of the translation. This can distort significantly when results of different periods are being compared and among various geographical markets. The yen has been stronger in fiscal year 2000 as against 1999. According to Toyota’s Annual Reports, net revenue increased by 6.1% in 1999 and decrease by 0.4% in 2000. If the difference in yen used for translation purposes are eliminated, net revenue would have increased by 5.9% in 1999 and increased by 11.2% in 2000 (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002). Thus, even though the consolidation figure showed a decrease in net revenue in 2000, it was mainly due to the strengthening of the yen in 2000, which made dollar values smaller after translation. The value of the yen against the Euro and the dollar fell generally for the past three years. The fall of the yen for the past three years has made Toyota reported profit when it is translated into yen though in actual fact it may not have been so. Toyota’s net revenue for fiscal year 2002 showed a 9% increase over the previous year. This is because of the weakening yen and the translation effect. If the difference in yen value used for translation purposes is eliminated, Toyota showed only 2.8% increase. Net revenue increased by 15.5% in North America, 24.8% in Europe and 0.4% in Japan, for fiscal 2002 compared to 2001 after consolidation. If translation effect is eliminated, the net revenue in North America increases by only 2.2% and 12.9% in Europe (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002). There was a double digit devaluation of the yen to the dollar in the business year ended March 31 2002. Toyota gained 70 billion yen from favourable exchange rate. The US dollar rose to about 127 yen from about 123 yen a year ago. A strong dollar helps the earning of Toyota by boosting the value of overseas revenue when converted into yen. However, translation effect is a reporting consideration and does not affect Toyota’s underlying operation. Toyota does not hedge against translation risk. Toyota manages its operating exposure by diversifying its operation and financing. It has localised much of its production by constructing production units in most of the countries in which it operates. Local operation allows Toyota to purchase most of its supplies and resources used in the production process in currencies that matches the currencies of local revenue with local expenses. Toyota has asked its UK suppliers to settle all bills using Europe’s single currency, the euro (http://news.bbc.co.uk/1/hi/business/873840.stm accessed on 16th November 2002). This reduces its exposure to changes in the value of the pound. Toyota has diversify its finance base by being able to raise funds in more than one place and thereby take advantage in interest rate differentials. Toyota can therefore borrow in Japan, United States of America or Europe to take advantage of interest rate differentials. With the expected fall in the American Interest rate as against the Japanese interest rate, Toyota can borrow in dollars so as to take advantage of the fall in interest rates. The  expected fall in American interest will lead to a fall in the value of dollars in relation to the yen. This fall will make loans and other commitments denominated in dollars less expensive in yen terms. Toyota will therefore gain from the expected depreciation of the dollar. The most obvious source or determinant of economic currency exposure comes from firms having revenues or costs denominated in foreign currencies. These direct or transaction effects are relatively easy to identify and manage. In addition, firms that also have foreign-based operations will have translation exposures that arise from consolidation. At the same time, there are also a number of indirect effects, which can be just as important and apply both to firms engaged in international business and to domestic firms, but which are substantially more difficult to recognise. This indirect economic currency exposure arises from unexpected movements in foreign exchange rates changing the competitive situation of the firm and which affect the firm’s future cash flows (and hence value). GLOBAL ECONOMIC FORECAST INFLATION DIFFERENTIALS The exchange rate stated simply is the price of one currency in terms of another currency. Exchange rate can therefore be expressed in terms of the law of one price which states that â€Å"in the presence of a competitive market structure and the absence of transportation cost and other barriers to trade, identical products which are sold in different markets will sell at the same price in terms of a common currency† (Pilbeam, K. (1992) International Finance, Macmillan). Relative purchasing power parity says that the change in the price level of commodities in one country relative to the rate of change in price levels in another country determines the exchange rate between the two countries. This in other words means that the rate of inflation in one country relative to another determines the rate of change in their respective currencies. (Ross et al, 1999). Thus if there is higher inflation in one country in relation to others, prices of goods and services will increase in th at country in relation with others and exchange  rates have to change accordingly in response to inflation differentials. According to the World Economic Outlook of the International Monetary Fund (http://www.imf.org/external/pubs/ft/weo/2002/02/pdf/appendix.pdf accessed on 14th November 2002), inflation is expected to move from -1.40% in 2002 to -1.2% in 2003 in Japan. This is 14.3% rise in inflation in Japan. Inflation in United States of America is expected to move from 1.2% in 2002 to 1.9% in 2003. American inflation is expected to increase by 58.3% whereas inflation in the Euro area is expected to decrease by 17.4%. This means that prices of goods and services in America will increase more than prices in Japan whiles prices in Europe is expected to decrease. The expected increase in the prices in America will lead to the depreciation of the dollar against the yen in order to maintain the purchasing power parity. The relative decrease in the level of inflation in Europe as against Japan will lead to the appreciation of the Euro against the yen. The yen is therefore expected to appreciate against the dollar but depreciate against the Euro. This will affect Toyota’s revenues and profits, as whatever amount is translated from dollar to yen will be lower comparatively. However, it will gain when the Euro is translated, as values will be higher after translation. BALANCE OF PAYMENT Balance of Payment measures the flow of economic transactions between the residents of a given country and the residents of other countries during a certain period of time. The use of balance of payment data to forecast foreign exchange rates assumes a fixed exchange rate regime. The balance of payment suggests that the current account get worse as national income rises. This is because the increased income will lead to increased income will lead to increased demand for goods and services including foreign products. This will lead to an increased demand for foreign currencies and a decrease in the value of the domestic currency. The basic tendency is for domestic currency to weaken to pay for the increased imports. In a fixed exchange regime, when this falls below certain limits the domestic government will have to intervene by selling resaves of foreign currencies in the foreign exchange market (Buckley, A. 2000). The same is with surplus where instead of selling foreign currencies, the government will buy foreign  currencies. This will increase demand or supply of foreign currencies and therefore affect the price i.e. the exchange rate. Thus if domestic income levels were to rise, the increase will lead to transaction demand for money which means that if the money stock and interest rates are held constant, the increased demand can only come about through a fall in domestic prices. The fall in domestic prices will then requires a depreciation of the currency to maintain purchasing power parity. However, an increase in foreign income levels leads to a fall in foreign prices level and therefore a depreciation of the home currency to maintain purchasing power parity (Pilbeam 1993). If there is increased demand for Japanese goods and services by Americans and Europeans then the yen is likely to appreciate, as the demand for yen will increase. However, under a floating exchange system, the government has no responsibility to peg the exchange rate. The fact that the overall balance does not sum to zero will automatically alter the exchange rate in the direction necessary to obtain a Balance of Payment close to zero (Eitman et al). If the country is running a substantial current account deficit whilst the capital and financial account balance is zero, it will have a deficit Balance of Payment. There will be excess supply of domestic currency and the market will rid itself of the imbalance by lowering the price through the depreciation of the currency. INTEREST RATE DIFFERNTIALS The interest rate parity theorem implies that if interest rates are higher domestically than in a particular foreign country, the foreign country’s currency will be selling at a premium in the forward market; and if interest rates are lower domestically, the foreign currency will be selling at a discount in the forward market (Ross et al 1999). The link between interest rate and exchange rate is explained by the International Fisher Effect, which holds that the interest rate differential is an unbiased predictor of future changes in the spot exchange rate (Rugman et al 2000). This differential is also important in determing forward exchange rates because this rate would be that which neutralises the difference in interest rates between the two countries. If the interest rate of one country is expected to fall in relation to another country, this will make the demand for  financial instruments denominated in that currency to fall. This fall in demand for financial instruments will lead to a fall in demand of that currency and therefore a depreciation of that currency. However, if interest rates are expected to rise in relation to other countries, there will be an increase in demand for financial instruments denominated in that currency and an appreciation of the currency. In practical terms, the international fisher effect implies that while an investor in a low interest country can convert his funds into the currency of a high interest country and get paid a higher rate, his gain (the interest rate differential) will be offset by the expected loss because of foreign exchange rate changes. The recent announcement of a fall in the American interest rate whilst the Japanese interest rate remain constant will lead to a fall in the demand for dollar denominated instruments and therefore a fall in the value of the dollar in relation to the yen. The Euro interest rate is not expected to change and therefore the exchange rate between the yen and the Euro may not change on the basis of interest rates. RISK MANAGEMENT STRATEGIES â€Å"Toyota uses a value-at-risk analysis (â€Å"VAR†) to evaluate its exposure to changes in foreign currency exchange rates. The value-at-risk of the combined foreign exchange position represents a potential loss in pre-tax earnings that are estimated to be  ¥25.2 billion as of March 31, 2001 and  ¥24.0 billion as of March 31, 2002. Based on Toyota’s overall currency exposure (including derivative positions), the risk during the year ended March 31, 2002 to pre-tax cash flow from currency movements was on average  ¥25.0 billion, with a high of  ¥26.7 billion and a low of  ¥22.9 billion. The value-at-risk was estimated by using a variance/ covariance model and assumed a 95% confidence level on the realization date and a 10-day holding period. Toyota changed the model used for calculation of value-at-risk from â€Å"variance/covariance† method to â€Å"Monte Carlo Simulation† method because Toyota introduced a new system, which Toyota considers more effective for risk management purposes. The prior year amounts have been restated to the fiscal 2002 presentation.† (Toyota Annual Report 2002) LEADING AND LAGGING. Larger, more centralized corporations have additional options that may be employed to help control the foreign exchange risk of inter company transactions. One effective and potentially profitable approach involves leading (prepaying) payments when the payer’s currency is devaluing against the payment currency and lagging those payments if the payer’s currency is appreciating. Lagging is when a company pays its financial commitments late so as to take advantage of a devaluing currency. Leading on the other hand is paying early before a currency devalues. It serves as a means of shifting liquidity between subsidiaries to avoid bid – ask spreads and take advantage of interest rate differentials (Clark E. et al 1993). Toyota should take advantage of the fall in the interest rates in United States and subsequent expected fall in the value of the dollar. The American subsidiary should pay early all monies owned to the parent company in Japan. This will give a higher value than waiting for the dollar to devalue before paying. From a company wide standpoint, the treasurer can direct leading and lagging policy in order to take advantage of the favourable effects of exchange rate fluctuations. Additionally, leading and lagging policies may be used to shift funds from cash-rich to cash-poor affiliates, thereby improving short-term liquidity. However, leading and lagging is only possibly when the company has 100% ownership of the subsidiary. This is because the effect of an extended or reduced payment date alters the relative rate of return of each subsidiary. This is unfair to minority shareholders, as they do not necessarily benefit from such a practise that benefits the multinational as a whole. (Eiteman et al 2001). Toyota’s subsidiary in the US has minority shareholders like General Motors and these will be at a disadvantage if Toyota should use leading and lagging to manage its exposure. Inequality may arise unless the adjustment is made to reflect a subsidiary’s sacrifice. NETTING. Netting inter company transfers is another form of international cash management strategy that Toyota can employ. It requires a high degree of centralization. The basis of netting is that, within a closed group of related companies, total payables will always equal total receivables. Netting is useful primarily when a large number of separate foreign exchange  transaction occur between subsidiaries (Eiteman et al 2001). Thus instead of Toyota paying monies owed to and by each subsidiary, the subsidiaries can net off each others debt and thereby not deal in the foreign exchange market. In order to reduce the bank transaction cost, such as spread between foreign exchange bid and ask quotations and transfer fees, Toyota should establish an in house netting centre. The exposure that remains–net payments to payees–can then be hedged in the forward market if desired. The advantages of netting are  · A reduction in foreign exchange conversion fees and funds transfer fees as commissions on foreign exchange transactions and funds transfer are drastically reduced.  · A quicker settlement of obligations reducing the group’s overall exposure. REINVOICING. Reinvoicing goes one step beyond the centralized approach of multilateral netting by way of a clearing centre. A reinvoicing centre buys goods from the manufacturing subsidiary or parent, without taking possession, and reinvoices other company affiliates or third parties when it sells the goods. By conducting all transactions in the affiliate’s functional currency, the reinvoicing centre bears all currency risks. This prevents the FC exposures from distorting the subsidiary’s operating profit (loss). In addition, the reinvoicing centre allows for centralized cash flow management, increase international business expertise and opportunities for arbitrage. The centre also improves and centralizes banking relationships and acts as a central purchasing agent for subsidiaries. Most important, the reinvoicing centre can assess its net position on all inter company transactions and hedge in the forward market accordingly. Problems with reinvoicing centres are * Some countries prohibit reinvoicing centres, as well as any third-party billing (for example, France, Spain,). * They are very expensive to set up because sophisticated information systems and legal and tax expertise are required. BACK TO BACK LOANS Back to back loans is when two firms arrange to borrow money in each others currency so as to avoid the risk associated with exchange rate fluctuation. Toyota can enter into an agreement with an American company that has a subsidiary in Japan. Toyota can then lend yen to the Japanese subsidiary of the American company and the American company in turn lends Toyota’s American subsidiary money in dollars. This will reduce the risk that Toyota will have had if it had lend the money to its American subsidiary as the expected fall in the value of the dollar will have reduced the amount of yen to be received. The advantage with back to back loan is there will not be the need to change currencies as loans will have been contracted in the functional currency of the subsidiary and therefore there will be no risk. However it is very difficult to get a partner who will be prepared to enter into such an arrangement. NATURAL HEDGING Natural hedging is to manage an anticipated exposure to a particular currency by acquiring a debt denominated in that currency. Thus if a firm has a long term inflow in one currency, the firm can acquire an outflow in the form of a loan in the same currency and use the inflow to service the debt. Since Toyota’s main markets are the USA and Europe, it can take out loans in Euro or dollars and use the proceeds from its operations to pay for the loan. Toyota will then not have to bother about the exchange rate fluctuation, as it will be paying the loan from proceeds generated from local operations. Toyota is also asking its British suppliers to bill them in the Euro so as to reduce the risk. This is effective in eliminating currency exposed when the exposure cash flow is relatively constant and predictable over time (Eiteman et al 2001) FORWARD CONTRACT Forward contract is an agreement to exchange currencies of different countries at a specific future date and at a specific forward rate (Eiteman et al 2001). If Toyota has receivables denominated in US dollars in the form of loans owed to the parent company, it can enter into a forward contract to hedge against the expected fall in the value of the dollar. When the value of the dollar depreciates, Toyota will therefore not be at risk. However, should the predictions not come true and the dollar rather appreciates, Toyota would have lost the opportunity of earning more on the spot market. REFERENCES 1. BUCKLEY, A. (2000) multinational finance. 4th ed., Harlow : Financial Times Prentice Hall. 2 CLARK, E. LEVASSEUR, M. ROUSSEAU, P. (1993) international finance, London : Chapman and Hall. 3 PILBEAM, K. (1992) international finance, Basingstoke : Macmillan Education. 4 RUGMAN, A. M. (2000) international business: a strategic management approach, 2nd ed., Harlow: Financial Times/Prentice Hall. 5. EITEMAN, D.K., STONEHILL, A.I., MOFFETT, M. H. (2001) Multinational business finance, 9th ed., 6.ROSS, S.A., WESTERFIELD, R., JAFFE, J. (1999) corporate finance, 5th ed., London: McGraw Hill. 6. (http://www.imf.org/external/pubs/ft/weo/2002/02/pdf/appendix.pdf accessed on 14th November 2002), 7. (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002) 8. (http://pacific.commerce.ubc.ca/xr/data.html accessed on 14th November 2002) 9. (http://news.bbc.co.uk/1/hi/business/873840.stm accessed on 16th November 2002)