Racism - I Was Born a Middle-class, White Child Essay -- Sociology Rac

Bigotry and Prejudice - I Was Born a Middle-class, White Child †¦ Professor’s remark: This article task was intended to furnish understudies with a comprehension of scholastic examination, hypotheses, and ideas on race relations and afterward utilize that as a premise from which to fundamentally consider, break down, and create systems for change, both for themselves and for their general surroundings. This understudy returns us to his youth in Smallville and rethinks with us his childhood, race relations in his town, his own mindfulness, and eventually his and our requirement for change. He does this delightfully with the utilization of clear and powerful symbolism, juxtaposition, and inferences. En route, He takes us to Smallville as well as into our own lives and psyches. This paper is the best I have ever perused; it is illuminating, moving, and rich. I was brought into the world a working class, white youngster. I was never reluctant about it as of not long ago. I experienced childhood in a modest community, â€Å"hick-town† some have called it. Twenty years prior, when my family previously moved there, the little green sign on the south part of town read, â€Å"Smallville, Elevation: 1450 feet, Population: 1350.† In twenty years, the second number on the sign has changed minimal more than the first. I recollect when my dad used to take me out through the plantations to chat with the ranchers, for that’s what individuals do in Smallville. They ranch. Pears, grapes, pecans, and a couple of kiwis, all financed by huge white banks, developed by full white ranchers, sold by rotund white specialists, and gathered by Mexican-Americans. What a nation. My tubby dad markets pears and grapes. What's more, he would take me out into Rick Bengard’s pear plantation. Also, with sections of land and sections of land o f pear trees surrounding us, he would disclose to me how Unc... ...a half years prior, I figured that contrasted with a great many people, I was genuinely mindful. From that point forward, the most significant thing I’ve learned is the amount I don’t know. I don’t recognize what it resembles to go to class and be the main dull spot on white cloth. I don’t realize what it resembles to need to battle intellectually, genuinely, and profoundly to safeguard a social character. I don’t realize what it resembles to fear running around evening time. I don’t comprehend what it resembles to be dreaded on the off chance that I run around evening time. I don’t recognize what it resembles to live under a cover of generalizations. I don’t realize what it resembles to have individuals who teach me inconspicuously overlook me and individuals who sit close to me unpretentiously dodge me. What's more, I don’t comprehend what it resembles being an ethnic minority on this school grounds, this organization of advanced education, this huge scope Smallville, this shielded minimal world that is just â€Å"fairly aware.†

Ikea Paper free essay sample

The organization is known for its cutting edge compositional structures on different kinds of apparatuses and furniture, frequently connected with an improved eco-accommodating inside plan. Moreover, the firm is known for the consideration it provides for cost control, operational subtleties and ceaseless item improvement, permitting it to bring down its costs by a normal of a few percent throughout the decade to 2010, while proceeding with its worldwide development. As of October 2011, IKEA has 332 stores in 38 nations. The greater part of these stores are legitimately possessed yet some are overseen under establishment by proprietors outside the organization. By doing this, IKEA faces a higher possibility of accomplishment than in a sole ownership. In financial year 2010, it sold $23. 1 billion worth of merchandise, a 7. 7 percent expansion more than 2009. As of late, IKEA buys from creating nations have developed from 32% in 1998 to 48% in 2003; 29% of its yield originates from Asia, 67% from Europe and 4% from the USA (Arrigo, 2005). For quite a while, Poland was the second provider of crude materials after Sweden, however there was as of late a thrilled increment in China which, in 2004, represented 14% of all out yield, trailed by Poland with 12%, Sweden with 8%, Italy with 7%, and Germany with 6% (IKEA. com). To accomplish its objective of boosting productivity while reducing expenses and costs to the end purchaser, IKEA is continually searching for advantageous new areas. This paper will concentrate on key speculations choices concerning advancement and publicizing and key item include choices. IKEA Supply IKEAs vision is â€Å"To make a superior regular daily existence for the numerous individuals. † To meet its vision IKEA gives some all around planned, utilitarian items for the home. It costs its items low so that whatever number individuals as could reasonably be expected can bear to get them. Notwithstanding, in making low costs IKEA isn't eager to forfeit its standards. Low cost however not at any price† is the thing that IKEA says. This implies it needs its business to be practical. IKEA supplies products and ventures to people in a manner that has a general advantageous impact on individuals and the earth. Clients everywhere throughout the world have reacted emphatic ally to IKEAs approach. This is obvious in its expanding deals. Flexibly chain IKEA has an amazingly proficient gracefully chain and its administration was the key source in IKEA in cost the executives which gave it a front line among its rivals as it items where charged 30% lower than the expense of its adversaries. As to the flexibly chain, the progression of creation and procedures experience three mechanical areas before the finished result arrives at the client. Right off the bat, it begins with the essential division concerning crude materials. Common assets, for example, timber are extricated and created. IKEA purchases items from in excess of 1,300 providers in 50 nations (The Times 100). It utilizes various exchanging administration workplaces over the world. They arrange costs with providers, check the nature of materials and break down the ecological effects that happen through the flexibly chain. IKEA points that all the items and materials it takes from the essential area don't hurt the earth. They additionally watch out for social and working conditions at providers. The subsequent advance is producing where essential materials are utilized to assemble, made and created to completed products. A key piece of IKEAs achievement is because of its interchanges with materials providers and producers. During assembling IKEA determines to its makers that waste ought to be dodged. Where waste occurs the firm urges providers to attempt to utilize it in the assembling of different items. IKEA has a set of accepted rules called the IKEA Way of Purchasing Home Furnishing Products, the IWAY (The Times 100). This contains least standards and rules that help makers to lessen the effect of their exercises on nature. IKEA points that all there items are made in a dependable manner. The tertiary area offers types of assistance expected to address the issues of the end clients, for example, retailing, circulation, protection, and client administrations. IKEAs retail locations increase the value of made products by giving a type of shopping distinctive to the typical high-road experience. They address the issues of the purchasers in various manners. Each IKEA store is huge and holds in excess of 9,500 items giving bunches of decision. Inside each store, there are various reasonable room settings that empower clients to perceive what the items would resemble in their own homes. What's more, the IKEA store is based on an idea of â€Å"you do half, we do half; together we spare money†. This alludes to, for instance, the client amassing furniture at home. Clients handpick items themselves utilizing streetcars. Likewise, IKEA gives lists and home conveyance to spare customers’ time. IKEA stores additionally have cafés that give Swedish dishes close by nearby food decisions. IKEA Competition To characterize the significant market, IKEA works in a flawlessly serious market. IKEA is a furniture store and there are numerous other furniture stores possessed by different various substances (so there are numerous providers in this market). Typically the organizations in a splendidly serious market would be value takers. Be that as it may, IKEA has a great deal of market power as it can raise its costs over the splendidly serious level without losing numerous customers. Along these lines it very well may be expressed that IKEA is a value setter. There are off kilter contenders, anyway it appears that IKEA doesn't generally consider competitor’s choices as they are not so much applicable to their own choices. IKEA sets its costs low since they face low creation costs because of solid associations with its providers. Contenders are unsurprising yet regardless of whether they were erratic, IKEA would not be influenced by their choices as the firm is as of now at the base finish of the market. IKEA utilizes their idea in a worldwide methodology that planned furniture at a lower cost than different contenders offer that can be sold wherever for the focused on advertise section. Now and then local contrasts create the impression that emerge structure national propensities, ways of life and culture. What gives IKEA a tremendous preferred position in selling its items at a lower value springs from their â€Å"young† idea is that the clients need to bring home the items and gather it themselves. No other firm produces as much furniture as IKEA. The firm can and will take out any nearby rivalry by utilizing their worldwide position. They have no contenders on the worldwide market. IKEA’s achievement was perceived to its huge involvement with the furniture retail advertise, its item separation and cost administration. Across business sectors where it directly has a nearness, items are sold at costs that are 30 to 50 percent lower than contending items. This entrance estimating empowers IKEA to increase noteworthy piece of the pie. Low costs are a consequence of huge amount buying, ease coordinations, and store area in lodging zones. What's more, IKEA additionally profits by economies of scale and sound provider firm connections. IKEA goes into long haul contracts, gives rented hardware and specialized help in return for elite, minimal effort producing from providers. For new markets, IKEA ought to hold its value picture to keep up the brand’s situating. IKEA makes progress toward cost administration, and thus it arranges the most modest conditions with an enormous number of providers, a huge piece of whom live in eastern Europe and Asia, where the expense of crude materials, labor and stockroom rentals is lower than somewhere else. IKEA consistently attempts to get crude materials at the best cost, picking the providers with the least expensive cost however it is similarly centered around keeping up great associations with them to stay away from late conveyances or poor workmanship. IKEA’s minimal effort strategy depends on a few components. Right off the bat, and beforehand as of now referenced, it depends on economies of scale where enormous volumes decrease the unit cost of creation. Also, the ease approach depends on economies of transport where huge requests of items grant to IKEA to move transport expenses to providers. Low running expenses inside the stores is likewise a factor. For instance, the gathering utilizes structures that are anything but difficult to fabricate and cheap to oversee, and it additionally has a ‘dressdown policy’, with all representatives wearing similar outfits, which are extremely basic and ractical. A last factor as to minimal effort arrangement is the acquisition of unassembled items from providers with a subsequent decrease of expenses (charges are lower for segments than for completed items). IKEA Demand concerning the quantity of purchasers, this market faces an incredible number of purchasers as IKEA wish es to arrive at everybody who needs another household item or frill. IKEA gives its items to end customers as it just supplies their last items. These customers can be families, different organizations, or governments for instance. On the interest side, the dynamic support of its clients, who are viewed as real accomplices, is a wellspring of financial putting something aside for IKEA. The vast majority of its items are pressed in level packs and the client needs to take them home and amass them, paying the expense of transport and gathering, and in this manner diminishing capacity costs for IKEA. Any place buyers go to IKEA stores, items are consistently the equivalent. Buyers in this way comprehend what they can expect and for what cost. This is an extremely solid quality of IKEA on the grounds that commonality with a brand makes customers return. The 9,500 items that IKEA supplies is accessible in all IKEA stores and clients can arrange a significant part of the range online through IKEA’s site. By doing this, IKEA makes items simpler available, lessening the separation a customers needs to make a trip when deciding to buy IKEA items, and packs its great

Homeless Veterans Living With PTSD

Homeless Veterans Living With PTSD PTSD PTSD and the Military Print Homeless Veterans Living With PTSD By Amy Morin, LCSW facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our editorial policy Amy Morin, LCSW Updated on September 29, 2019 Post-Traumatic Stress Disorder Overview Symptoms & Diagnosis Causes & Risk Factors Treatment Living With In Children  CatLane / E / Getty Images Its hard to imagine someone who served our country in the military living on the streets. Unfortunately, for many veterans, homelessness is a sad reality. Although there’s no official count, the U.S. Department of Veteran Affairs estimates that nearly 40,000 veterans are homeless. One of the biggest contributing factors to homelessness among the veteran population is post-traumatic stress disorder or PTSD. What Is PTSD? Living as a homeless  veteran is hard enough. Add in the  struggles of PTSD, and it takes the situation to a whole different level. PTSD can affect anyone who’s experienced a  traumatic situation, even if they’re not in the military. However, because traumatic situations can be commonplace in war zones, it affects military members disproportionately.             PTSD triggers a person’s “flight-or-flight” response in a situation that doesn’t necessarily require it. To be officially diagnosed with PTSD, a veteran will experience the following  symptoms  for at least one month: At least one  avoidance symptom.  Avoidance symptoms  stem from the affected veteran wanting to stay away from places, events or objects that remind them of the traumatic experience, as well as avoiding thoughts or feeling related to it. So, a veteran may avoid talking about war or may steer clear of people who served in the military altogether because being around other veterans brings back bad memories.At least one re-experiencing symptom.  Re-experiencing symptoms are quite like they soundâ€"flashbacks, which include physical symptoms such as sweating or elevated heart rate, bad dreams and frightening thoughts. A veteran with PTSD may feel in immediate danger even when no actual threat is present.At least two cognitions and mood symptoms.  Cognitions and mood symptoms mean that the affected person has negative feelings, both about themselves and the world around them, feelings of guilt or blame and has trouble remembering key parts of the event that caused PTSD.At least two arousa l and reactivity symptoms. Arousal and reactivity symptoms, which are often constant, include startling easily, feeling tense, sleeping issues and having angry outbursts. PTSD is often accompanied by other mental illnesses. Common comorbid conditions include depression, anxiety, and  substance abuse.     Why Veterans With PTSD Become Homeless Researchers estimate that between 11 and 20 percent of veterans who served in Operation Iraqi Freedom or Operation Enduring Freedom struggle with PTSD. Additionally, an estimated 12 percent of Gulf War veterans experience PTSD, while approximately 30 percent of Vietnam veterans have experienced PTSD in their lifetime. A study published in  Administration and Policy in Mental Health and Mental Health Services Research  found that two-thirds of homeless Iraq and Afghanistan veterans have PTSD, which is significantly higher than homeless veterans who served in previous wars. Many of these veterans with PTSD didnt receive adequate treatment to help them deal with the traumatic events they witnessed in the military. Consequently, they struggle to maintain jobs and have difficulty finding things in common with their friends and families. When veterans are discharged from the military, many of them struggle to fit back in with civilian life. Research shows veterans lack of support and social isolation contributes to homelessness among veterans with PTSD.   A Profile of Homeless Veterans The VA estimates that approximately 11 percent of homeless people are veterans. Additionally, homeless veterans are nearly entirely male; just 9 percent of homeless veterans are female. These veterans don’t come from any one particular war zone. Among them, homeless veterans served in wars ranging from World War II to Vietnam to Afghanistan and Iraq, as well as in the military’s anti-drug efforts in South America, says the National Coalition for Homeless Veterans (NCHV). What’s Being Done to Help Homeless Veterans Many people assume the VA and other federal government departments are taking care of veterans when they leave the military. The VA does have a specialized homelessness program for veterans that provides health care to nearly 150,000 while more than 40,000 homeless veterans receive some sort of monthly compensation or pension, notes the NCHV. Additionally, the department has secured more than 45,000 beds for homeless veterans across the United States. For example, a joint program between the VA and the Department of Housing and Urban Development has awarded more than 85,000 Section 8 Housing Choice Vouchers to Public Housing Authorities across the country since 2008. In 2012, the VA introduced the Supportive Services for Veteran Families (SSVF) with the goal of both preventing homeless veterans and finding housing for those who do experience homelessness. In 2015, this service helped more than 157,000 people, including 99,000 veterans and 34,000 children, with just 9.4 percent returning to homelessness after benefits expired. When a veteran also experiences PTSD and other issues, whether it’s substance abuse or additional mental illnesses, they don’t always seek out the aid they needâ€"nor is there enough aid to meet demand. That’s why there are community-based organizations that aim to meet the needs of homeless veteransâ€"more than 2,100 of them across the country. The groups do what they can to work in collaboration with governmental agencies, veteran service organizations, and other homeless aid groups. NCHV notes that the most effective programs are those that allow for transitional housing for the veteran that’s both structured and substance-freeâ€"the ideal solution for all veterans struggling to return to a normal life. How to Help a Homeless Veteran If you know of a homeless veteran, you can contact your local VA Medical Center. Trained staff can offer information about resources available in your community and the steps you might take to help someone. While you cant force someone to get help (as long as the person is competent), sharing resources or alerting a professional to the situation may be a step in the right direction.   Notifying staff at your VA center of the situation is important. Some centers provide outreach workers who can meet with homeless veterans on the streets to provide them with urgent medical care or to inform them of housing assistance or treatment options for mental health or substance abuse issues.

The Importance Of Corporate Social Responsibility And Ikea

The Importance of Corporate Social Responsibility to IKEA This essay is about the importance of Corporate Social Responsibility (CSR) to IKEA. Corporate Social Responsibility is a broad subject comprising of many definitions. It can be defined as, ‘the social responsibility of a business that encompasses the economic, legal, ethical and discretionary expectations that society has of the organization at a given point in time’ (Carroll, 1979). Expectations of society have been the key driver for how important and widely adopted CSR has become in today’s business world. In a competitive business environment where consumers are increasingly aware of their buying power, they are asserting their right to not only demand quality but hold companies to account to high standards. They are concerned with where the goods were originated, the conditions under which the goods are manufactured and what ethos a brand stands by. It has become crucial for a business to be built on ethical practices in order for an organization to maintain its success. Over time the idea of CSR just being an unnecessary expense has shifted, with it coming as far as being called out as a, ‘definitively important strategic issue’, Businesses now see CSR as a method of generating and protecting income through creating a good brand image and customer loyalty. Not only but also smaller of organisations gain when Corporate Social Responsibility is implemented (CSR) very actively in the business. The BodyShow MoreRelatedIKEA S Global Sourcing Challenge Case Questions Essay813 Words   |  4 Pagesshould decline the invitation for IKEA to have a representative appear on the upcoming forecast of the German video program. 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External challenges Opening new stores to drive future growth Finding new sources of supply to support more store openings Find suppliers to be a strategic fit with its highly efficient operations Given the issue of deforestation and the link to global warming, IKEA would need toRead MoreValue Based Service7682 Words   |  31 Pagesnarratives from IKEA Bo Edvardsson and Bo Enquist Service Research Center, Karlstad University, Karlstad, Sweden, and 230 Michael Hay IKEA North America Abstract Purpose – The purpose of this paper is to present a model for values-based service brands grounded in values-based service management. In undertaking this task, the paper addresses two research questions: â€Å"What is the role of values in creating customer value and corporate identity?† and â€Å"How can values and corporate identity be communicatedRead MoreCorporate Social and Environmental Responsibility -- a Short Report on Ikea B.V2346 Words   |  10 PagesCorporate Social and Environmental Responsibility A Short Report on IKEA B.V Written By: Syed Rehan Rizvi February 16, 2010 IKEA’s Social and Environmental Initiatives Introduction IKEA is one of the largest European home furnishing retailers established in 1943. It has more than 300 stores in 37 countries with a business turnover of approx. 22,7 billion Euros in 2009 and an approximate direct workforce of 127,800 employees all over the world. IKEA’s retail concept is based on sellingRead MoreEthical Issue Ikea2982 Words   |  12 PagesIntroduction of IKEA IKEA is a Swedish company producing home furnishing products at low prices to make them affordable to people. The company was founded in 1943 by Ingvar Kamprad and kept growing tremendously from 2 stores in 1964 to 114 stores in 1994 to 285 stores in 2008 in 36 countries with an additional 26 stores to be opened in 2009 welcoming a total of 522 million visitors. IKEA’s success story is the result of its founders opening store in 1951 to allow customers to inspect products beforeRead MoreSupply Chain Sustainability ( Scs )1505 Words   |  7 PagesSYNOPSIS This report focuses on the importance of supply chain sustainability (SCS) and the what are the benefits the sustainable supply chain can bring to the relevant stakeholders. The final section of the report illustrates how to developing and implementing a sustainable supply chain strategy in business environment. The examples of Starbucks and IKEA as the sustainable supply chain organizations are used to support the sustainable view in this report. There also are some other examples usedRead MoreStrategic Management Analysis Of IKEA Hong Kong3038 Words   |  13 Pagesï » ¿Strategic Management Analysis of IKEA Hong Kong Introduction In order to understand what strategic position and direction which IKEA takes in Hong Kong market so as to keep making successful business, it is important to conduct a strategic analysis of IKEA HK from internal, external factors to its strengths, weakness, opportunities and threats to evaluate this company. To tide over the economic crisis, most of the HK home furniture business tends to â€Å"low price strategy† so as to gain market shareRead MoreSupply Chain And The Network Design4271 Words   |  18 Pagessupply chain in IKEA. It will discuss the strategies of supply chain and the network design. Also it will discuss the significant increase in the companies’ efficiency for the last 10 years. This report will be divided in to four sections: The first section will be discussing the customer buying behaviour and the strategy that IKEA used to satisfy the customers by increasing their efficiency and having good quality with low prices. Furthermore, the second parts will analyse the corporate strategy andRead MorePosition Analysis of Ikea3747 Words   |  15 Pages|STRATEGY MANAGEMENT 1 | |IKEA | | | | | | | |MANOJ KUMAR OUDAYA COUMARIN Read MoreIkea Csr Essay4876 Words   |  20 PagesMeaning of Sustainability to IKEA 5 CSR Issues and Criticism 6 Why IKEA sought to address the issues through CSR 12 How IKEA sought to address the issues through CSR 13 The Natural Step 15 Public Response 17 Cultural Change Within IKEA 18 Evaluation of the Strategic Element of IKEA’s CSR Practice 22 Conclusion 23 Bibliography 24 Appendix 26 IKEA MGT301 CSR Case Study Report Executive Summary The purpose of this report is to provide an overview of IKEA as an organization and

A Research Study On Lgbt Parenting - 2421 Words

Breanni Anderson Social Psychology November 13, 2014 Research Paper LGBT parenting (YAY OR NAY!) This research paper I provide facts, studies about lesbian parenting, and homosexual parenting being just as accurate as heterosexual parenting. I also explain how lesbian marriage acceptance is the first step to a great parenting for a child. A key factor that can help financially, mentally, and socially. Within our own community acceptance most people are prejudice to those who don’t follow the norm. In this essay I provide facts of pure rejection and overcoming, stories told by those who lived with LGBT parents, and studies proving that there is no true difference in the parenting and in some cases the LGBT parent can be better. A famous†¦show more content†¦For a period of time a lot of other homosexual couples applied for the marriage license but all came to the same defeat. Even though marriage was prohibited for almost 30 more years after these incidents Vermont’s high court provided the benefits to homosexual couples through the Vermont’s civil program in 2000. Still not recognize as a legal opportunity provided by the state the â€Å" marital segregation† stopped when Massachusetts offered same sex marriage licenses. Most of the community didn’t like the fact of homosexuality being supported in their homeland. After Massachusetts kindness and support homosexuals took a hard hit in 2004 when thirteen states banned them from getting married. â€Å" The issue pits left against right and, perhaps more significant, odd against young: Americans over age forty-four oppose same sex marriage by a decisive majority, but a plurality of Americans under age thirty support it.â €  A problem this big on marriage has not come to pass since the states were at odds over interracial marriage. Not only is it a civil rights issue but there is a wonder if same sex couple’s can raise a child. In the census of 2000, 599,000 same sex couples live together and within that the estimate of children 166,000. One of the problems is that the child to mostly one of theirs or only one of them gave birth to it. One of the pros above same sex marriage would reflect on others to support marriage

Measure Free Essays

At the end of Measure for Measure the Duke has apparently caused a good deal of chaos, including the near execution of a man whose only crime is having sex with his lover, all for no apparent reason. At the beginning of the play he hands over power to Angelo, even though Angelo says that he is not ready for it. The Duke then goes into disguise as the Friar and essentially plays games with people’s lives. We will write a custom essay sample on Measure or any similar topic only for you Order Now It is thus not surprising that the people might want to overthrow him. The first argument that would be used, and perhaps the most powerful, would be that the Duke is the Duke. The idea that a person had a divine right to power through the â€Å"divine right of Kings† was powerful at this time. The Duke might have done some bad things – I would seem a fool if I didn’t admit this – but he made everything right in the end, and anyway, God has chosen him as Duke through birth. For better or worse he is the Duke, and the people should think twice before replacing him. First, if you get rid of leadership through birth, what system will replace it? Second, what likely candidates are there for being Duke instead of him? The most likely, at least as far as birth and position is, ironically, Angelo. The rebels should be asked the question of whether they would prefer the present Duke or Angelo as their leader. I think the answer is quite easy to predict.   This is based upon the quite practical, better the devil you know than the devil you don’t argument. This should appeal to the practical kind of people who would probably be wanting to remove the Duke at the end of the play. Another argument would be to suggest that the Duke was showing how a real leader should act through putting a man who would be tempted by power in charge. Thus a real leader, such as the Duke himself, knows that the laws are written by men and are thus fallible. He becomes the Duke of â€Å"dark corners† to show that at times a leader must bend with the wind rather than applying the law absolutely. This argument suggests that the Duke knew that Angelo would turn out to be a bad leader, and let him carry on with it, even when people’s lives were at stake.   This showed the people that the Duke had their best interests at heart through showing them just how bad a leader Angelo would be, or someone like him, if the Duke was removed or died without an heir. Another argument is the fact that despite obviously quite enjoying the kind of chaos and risk which ensued when he gave up power, the Duke never showed any sign of indulging this when he was acting as Duke. He thus did not succumb to the temptation of absolute power as Angelo did. This will be argument for the fact that the Duke, probably coming from a whole line of similarly powerful people, as the blood and temperament to control the city, even though his imagination might lead elsewhere. The people might also be persuaded by the fact that at the end of the play everything is actually excellently resolved. The right people are marrying the right people, others have been pardoned when they deserve it and even, as in the case of Barnadine, when they don’t. Even the Duke has rescued Isabella from what is regarded as a terrible life in the convent and will marry her. This ensures that the Duke will soon have an heir to take over form him, and the succession of Dukes will be preserved. This being the case, why not forget the past rather than trying to bring about retribution for the Duke’s misdeeds. Trying to remove the Duke might also cause a miniature civil war. It is unlikely that he or his supporters will go quietly. Also, the Dukes of neighboring cities might come to the Duke’s rescue because they fear the precedent of removing a Duke when the people don’t like him could spread to their cities. Or they may come to the â€Å"rescue† of the city through invading it while there is a power vacuum. That way the people would lose their Duke and their city. So I would appear to several different arguments in order to save the Duke from the planned rebellion. First, he is the Duke and has the divine right to be so because he has been chosen by God. Secondly, what he did was actually a favor to everyone because it removed someone (Angelo) from contention of ever becoming Duke who appeared to be good material but actually turned out to be a total disaster. Third, the Duke showed that he understands the dark side of human nature, and even has his fair share of it himself, but ahs been able up to this time to keep it in check. He has been a just Duke up until this point – that is why Angelo’s strict and eventually hypocritical decisions seem so harsh. Fourth, the Duke has shown just how difficult it is to be a Duke, and the people should think twice about replacing him because of the uncertainty of what will follow. Fifth, the Duke restores peace and harmony at the end of the play, and he is even getting married himself so he can now have an heir in waiting. Sixth, if they try to remove him a war will almost certainly occur, and the whole city may be lost. To conclude, perhaps the best argument, if Shakespeare’s plays exist in this imaginary world of â€Å"after the play ends† will be the title of one of his other dark comedies: â€Å"all’s well that ends well†. Of course the question left by this play is â€Å"well is it?†, and the citizens are perhaps right to ask whether a man who could everything the Duke has done should continue in power. Bu the alternatives are too uncertain, too bloody and too chaotic to imply that the Duke should be replaced. In the final part of the argument I would make clear that all those who were presently planning to remove the Duke will receive a full and absolute pardon.   They might continue with the rebellion just because they are afraid of what would happen if they don’t, and yet have revealed themselves as potential rebels.   However, I would mark down the names of all those involved carefully and watch them on behalf of the Duke in the future. . . . How to cite Measure, Essay examples

Measure Free Essays

At the end of Measure for Measure the Duke has apparently caused a good deal of chaos, including the near execution of a man whose only crime is having sex with his lover, all for no apparent reason. At the beginning of the play he hands over power to Angelo, even though Angelo says that he is not ready for it. The Duke then goes into disguise as the Friar and essentially plays games with people’s lives. We will write a custom essay sample on Measure or any similar topic only for you Order Now It is thus not surprising that the people might want to overthrow him. The first argument that would be used, and perhaps the most powerful, would be that the Duke is the Duke. The idea that a person had a divine right to power through the â€Å"divine right of Kings† was powerful at this time. The Duke might have done some bad things – I would seem a fool if I didn’t admit this – but he made everything right in the end, and anyway, God has chosen him as Duke through birth. For better or worse he is the Duke, and the people should think twice before replacing him. First, if you get rid of leadership through birth, what system will replace it? Second, what likely candidates are there for being Duke instead of him? The most likely, at least as far as birth and position is, ironically, Angelo. The rebels should be asked the question of whether they would prefer the present Duke or Angelo as their leader. I think the answer is quite easy to predict.   This is based upon the quite practical, better the devil you know than the devil you don’t argument. This should appeal to the practical kind of people who would probably be wanting to remove the Duke at the end of the play. Another argument would be to suggest that the Duke was showing how a real leader should act through putting a man who would be tempted by power in charge. Thus a real leader, such as the Duke himself, knows that the laws are written by men and are thus fallible. He becomes the Duke of â€Å"dark corners† to show that at times a leader must bend with the wind rather than applying the law absolutely. This argument suggests that the Duke knew that Angelo would turn out to be a bad leader, and let him carry on with it, even when people’s lives were at stake.   This showed the people that the Duke had their best interests at heart through showing them just how bad a leader Angelo would be, or someone like him, if the Duke was removed or died without an heir. Another argument is the fact that despite obviously quite enjoying the kind of chaos and risk which ensued when he gave up power, the Duke never showed any sign of indulging this when he was acting as Duke. He thus did not succumb to the temptation of absolute power as Angelo did. This will be argument for the fact that the Duke, probably coming from a whole line of similarly powerful people, as the blood and temperament to control the city, even though his imagination might lead elsewhere. The people might also be persuaded by the fact that at the end of the play everything is actually excellently resolved. The right people are marrying the right people, others have been pardoned when they deserve it and even, as in the case of Barnadine, when they don’t. Even the Duke has rescued Isabella from what is regarded as a terrible life in the convent and will marry her. This ensures that the Duke will soon have an heir to take over form him, and the succession of Dukes will be preserved. This being the case, why not forget the past rather than trying to bring about retribution for the Duke’s misdeeds. Trying to remove the Duke might also cause a miniature civil war. It is unlikely that he or his supporters will go quietly. Also, the Dukes of neighboring cities might come to the Duke’s rescue because they fear the precedent of removing a Duke when the people don’t like him could spread to their cities. Or they may come to the â€Å"rescue† of the city through invading it while there is a power vacuum. That way the people would lose their Duke and their city. So I would appear to several different arguments in order to save the Duke from the planned rebellion. First, he is the Duke and has the divine right to be so because he has been chosen by God. Secondly, what he did was actually a favor to everyone because it removed someone (Angelo) from contention of ever becoming Duke who appeared to be good material but actually turned out to be a total disaster. Third, the Duke showed that he understands the dark side of human nature, and even has his fair share of it himself, but ahs been able up to this time to keep it in check. He has been a just Duke up until this point – that is why Angelo’s strict and eventually hypocritical decisions seem so harsh. Fourth, the Duke has shown just how difficult it is to be a Duke, and the people should think twice about replacing him because of the uncertainty of what will follow. Fifth, the Duke restores peace and harmony at the end of the play, and he is even getting married himself so he can now have an heir in waiting. Sixth, if they try to remove him a war will almost certainly occur, and the whole city may be lost. To conclude, perhaps the best argument, if Shakespeare’s plays exist in this imaginary world of â€Å"after the play ends† will be the title of one of his other dark comedies: â€Å"all’s well that ends well†. Of course the question left by this play is â€Å"well is it?†, and the citizens are perhaps right to ask whether a man who could everything the Duke has done should continue in power. Bu the alternatives are too uncertain, too bloody and too chaotic to imply that the Duke should be replaced. In the final part of the argument I would make clear that all those who were presently planning to remove the Duke will receive a full and absolute pardon.   They might continue with the rebellion just because they are afraid of what would happen if they don’t, and yet have revealed themselves as potential rebels.   However, I would mark down the names of all those involved carefully and watch them on behalf of the Duke in the future. . . . How to cite Measure, Essay examples

Slavery; a Problem in American Institutional and Intellectual Life Essay Example

Slavery; a Problem in American Institutional and Intellectual Life Paper Stanley M. Elkins’ illustrative work Slavery; A Problem in American Institutional and Intellectual Life provides a different a approach to the phenomenon of slavery in American history. Unlike ordinary depiction of causes of its origin and its advantages and disadvantages, Elkins takes into consideration an entirely novels manifestation of slavery i.e. slavery a dilemma in American history and its effects of intellectual and institutional life. He reinforces the idea that in the early nineteenth century, two phenomenon, democracy and capitalism, changes the course of events and the socio-psychological pattern of American life. In the context of slavery, theses two phenomenon seem juxtaposing each other but reality was different as both helped dissolving old institutions (slavery was one of them) as both believed in the transcendent value of individual.First main chapter â€Å"Institutions and the Law of Slavery† provide a comparative analysis of slavery in United States vis a vis Latin America. In the second chapter â€Å"Slavery and Personality†, Elkins further provide a deep insight into the psychological effect on Negro personality and its individual and collective consequences. He compares the slave life in America with the concentration camps of Nazi Germany and their conversion into immature individuals. The third main chapter â€Å"Slavery and Intellectuals† deals with abstract American thought and its inability in creating channels for resolving the slavery issue. He elaborates various abolitionist approaches suggested and/or adopted by the contemporary leaders and politicians to solve this problem. Mr. Elkins reinforces the idea that American slavery was harsher and was augmented by institutional set-up as compared with Latin Americans. In United States, slaves were regarded as an entity that was included in their (Americans) property rights and were sanctioned by legal system.Mr. Elkins is of the view that economic compulsi ons interpreted the relationship of slavery as a master-slave relationship that was further rooted into the social and intellectual life of America. Later on it was structured into the legal system. In the whole scenario, slaves acted as economic instruments and this subordination was characterized only by commercial necessities.To illustrate the psychological effect, Elkins says that harsh pattern of slavery in the South brought into being a typical Negro personality that was commonly known as Sambo. Sambo denotes to a personality prototype that was characterized by childlike behavior. This infantilism (as Mr. Elkins calls it) was a result of absolute negation of individual rights and ultimate powerlessness.   He further compares it with Nazi concentration camp, where harsh treatment and absolute powerlessness over every action had reduced the Jews to infantilism.Finally, Elkins takes into account the surge of abolitionists in American history and their passionate movements. He r egards the abolitionists as of high moral character, anti-institutional and mortified. He further compares the American abolitionism with the same movements in England and manifests that that I country like England, institutions were strong and â€Å"men could hardly avid thinking and acting institutionally†. Whereas in America, there was not even a single institute of that caliber at national that could determine the slavery issue. So surge in abolitionism was a natural outcome of this situation.A close analysis of Mr. Elkins’ thesis suggests that he has not considered an important intellectual element that was the basis of this problem. In United States, the phenomenon of â€Å"slave as property† was limited to a single racial group i.e. African American. So this racial discrimination on the economic and the social level further manifested itself in the intellectual assumption of hereditary linkage between slavery and inferior mental and rational level.Mr. Elk ins investigations and interpretations depend on variety of primary and secondary sources. He has explored and utilized the legal manuscripts, the property documents, states legal codes to provide an exact legal structure of the age on the particular issue of slavery. His comparative evidences include various secondary sources. For example, he uses the authentic and influential original work â€Å"Slave and Citizen† by Frank Tannenbaum to compare slave life in Latin America and United States. He further uses the Nazi literature to compare the Sambo with Jews. Elkins ha employed the behavioral sciences to provide this analysis. He further rely on Alexander Bruce’s â€Å"An Economic history of Virginia† and Lewis C. Gray’s â€Å"History of Agriculture in the Southern America† to analyze economic perspective in which slavery took its birth and evolved. These references further capacitated Elkins with deep investigation of slave conditions in the South .Mr. Elkins’ book was a new addition in the series of U.B. Philipps, Kenneth Stamp and James Ford Rhodes who interpreted different aspects of slavery but Elkins’ work is of importance hitherto as it has marked a new orientation to slavery. It further initiated a â€Å"comparative sociology of slavery†. It has tried to provide a comprehensive interpretation of intellectual facets of ante-bellum slavery and its institutionalization.ReferencesElkins, Stanley. Slavery; A Problem in American Institutional and Intellectual Life. University of Chicago Press. 1959.

Witchcraze essays

Witchcraze essays Being accused of being a witch was a major crime in the sixteenth and seventeenth centuries because of misogyny (hatred of women). Witch hunts occurred in the British Isles, New England, Russia, Scandinavia, Hungary, the Balkan Islands, the Netherlands, Italy, and Spain. Also, during this time Catholic Germans felt Satan intended to destroy Christians by using witches. Witch hunts resulted in the trial, torture, and execution of tens of thousands of victims, about three quarters of whom were women. The reasons that witches were accused were complex and no doubt different for different people involved. There are many different theories for the persecution of witches. The figures show that in fact women wre overwhelmingly victimized: on average, 80 percent of those accused and 85 percent of those killed were female. (Barstow P.23) Although women were the main victims, men were also accused. Having a female body was the factor most likely to render one vulnerable to being called a witch. (Barstow P. 16) The reason that women were more apt to be accused, most were related to current attitudes to women and their places and roles they held within society. Women were suspected because they were believed to be morally weaker than men, and therefore more inclined to surrender to the temptations of the Devil. Also, women were thought to be more sexually indulgent than men. Women charged with witchcraft were often thought to have made a pact with the Devil as a result of sexual temptation and they often took part in sexual activity with the Devil as part of the pact. Also, women, unable by law to give legal testimony, did not traditionally know how to use the courts, either for initial defense or for appeal. (Barstow P. 25) There are various reasons that many witches tender to be old. Witches tended to be persecuted after many years of suspicion. Also, witches tended to be wise w...

9 Things Smart People Never Say in Office Small Talk

9 Things Smart People Never Say in Office Small Talk Social awareness is an innate talent, but it can also be a skill you can work to build. Find yourself with your foot in your mouth more often than you’d like? Don’t panic. Just make the effort to be more conscious of what you say from now on, starting with this list of no-nos. As you build your emotional intelligence, you’ll find social interactions much more fruitful. 1. â€Å"You look tired.†What someone else hears: â€Å"You look terrible.† Even if they have the darkest undereye circles you’ve ever seen and look pale and unkempt, it’s better not to go there. Ask instead if they’re stressed, or if you can do anything for them.2. â€Å"Wow, you’ve lost weight!†What they hear: â€Å"You used to be fat.† This is a compliment concealing a sucker punch to the self-esteem. Instead try telling someone that they look fantastic, with no comment on their previous state or past or current weight.3. â€Å"You were to o good for him.†What they hear: â€Å"You have terrible taste.† Even if this is true, it’s better to be gentle and not insult someone’s ex- or their own judgment. Instead try saying what a catch that person is, and how it’s their ex’s loss entirely that the relationship dissolved.4. â€Å"You†¦ always/never†When in doubt: use â€Å"I† statements. People don’t like to be generalized about, particularly in such strong terms. Stick to the facts to keep your interlocutor from getting defensive. Try saying â€Å"I’ve noticed you often do this,† or â€Å"I feel like this is a pattern.†5. â€Å"You look/are †¦.. for your age.†Whatever nice thing you were going to say, say it without the â€Å"for your age† part and you should be fine. Tell someone they look great or they’re really strong or vibrant and cut the modifying phrase. It saves you from being condescending and/or just plain rude.6. â€Å"Like I said†¦Ã¢â‚¬ What they hear: â€Å"Ugh, I can’t believe you’re making me repeat myself.† You’re not important enough for anyone else to remember everything you said. Just try to convey your point clearly and in a way that someone will remember because it was worth remembering. And don’t punish people for not lingering on your every word.7. â€Å"Good luck.†This is a tough one, because it seems harmless. But it can feel a little sarcastic, even when it isn’t meant that way. Next time, try â€Å"You’re going to do great.†8. â€Å"It’s up to you.†No one would have asked your opinion if they didn’t want it. Don’t throw the ball back in their court without giving it. Try stating your opinion and then adding that you’d rather defer to their taste in this particular situation- or just that you can’t decide between two things, or would rather they do the honors. This shows you care more than just saying, â€Å"whatever† and leaving it to them.9. â€Å"At least I never†¦.†You’re not perfect, and saying you never did something worse than what you did isn’t going to make anyone feel better. It’ll just make you look smug and #sorrynotsorry. Instead, just say you’re sorry. Owning your mistake is always a good strategy.Try to ban these few phrases from your vocabulary, and see what an impact it can have on your emotional intelligence in a very short period of time.

A Peep of History and Lifestyle Through Cookbooks Essay

A Peep of History and Lifestyle Through Cookbooks - Essay Example Historical cookbooks are mainly to pass on certain traditions of food preparation. It is also ought to preserve the heritage brought about by cultural evolution which happened in local kitchens. These kinds of cookbooks tell a story. It teaches the passionate cook about how such food came about- the story behind the ingredients, the reason for its conception etc. These kinds of books are very exact. If it is Italian cooking then expect the prominence of cheeses, tomatoes and other herbs. For French, the prominence of wine and butter are expected. And for most Asian dishes, chilli spices and noodles are to be look forward to. Artistic cookbooks bring about new ways of preparing traditional foods so it can be appreciated by more people, or specific types of people. An example is a vegetarian cookbook or a cookbook which targets diabetics. These are the "usual" dishes but meat is sometimes changed to vegetables or tofu, and carbohydrates are often changed to whole wheat and whole grains. Cookbooks are definitely helpful in understanding the way of life of different societies. These books tell a story of survival, celebration, scarcity or bounty or certain places, regions, era, or century. It can also be observed that the diet of different societies sometimes depend on their faith, beliefs, demography or most often than not, climate. It is of course, expected for people who live near the sea to have lots of sea foods in their diets. Food as Nostalgia Some women in the study conducted by Jean Duruz (1999), considered their successful food making practice as derived from natural ability. Most confess early interests in cooking, as they watch their mothers prepare the favorite foods of the family. However, through their narration of experiences, they illustrated how they learned to cook through a layering of knowledge from different influences. The women learned to cook from mothers, mothers-in-law, grandmothers, sisters, servants, aunts, female friends and neighbours, and occasionally fathers, fathers-in-law and husbands. They augmented this knowledge with domestic-science classes in high school and adult-education classes at technical college. Some were self-taught, both before and after marriage, through trial and error and reading cookbooks. According to Jean Duruz (1999), food brings about so much nostalgia in the Australian Society. Duruz describes for cookbooks which evoke 1950s nostalgia in Australia, a nostalgia for times perceived as conflict-free, pre-political, and child-like: "the fifties as a childhood for the nineties." Duruz' nostalgia is comprised of memories, such as the idealized 1950s nuclear family, which never in fact existed. According to Duruz(1999), he recipes and reminiscences are meant to evoke a lost Eden, a time before the fall, with the stress not only on the extended family, but the harmonious community. It is interesting to note that Duruz did not learn to cook as a child, as she recalls that household helpers did most of the cooking in

Advantages and Disadvantages of the European Union Research Paper

Advantages and Disadvantages of the European Union - Research Paper Example The discussion will also briefly look at the criteria followed by the states in order to be part of the European Union. Before the World War II took place, the world did not experience common cases of International organizations (alliances) as there are seen today. However, the war served as an eye-opener in that a majority of the states became open for cooperation towards creating these unions. This has largely been attributed to the widespread crisis, both economic and political, that had hit the world following the harrowing war. This prompted the creation of most of the organizations seen today with the European Union being one of them. As a brief history of the European Union, the idea of the alliance was incepted in 1949 and implemented in 1951 when the first founders of the Union came together for the formation of an alliance. The six member nations, Belgium, Germany, France, the Netherlands, Italy, and Luxembourg created what was first referred to as the Council of Europe. Their main objective was to unify the region while also proclaiming peace which was a much-needed necessity following the WWII. Following this was an expansion of the body and consequently, a new name was adopted in 1957- The European Economic Community. As the name suggests, the body was determined to create and facilitate free trade between member states. In the next 50 years, various countries have joined the body and in 1993, the body adopted the name The European Union, which is what it is known today. Currently, the union comprises 27 member states in Europe with the latest members, Bulgaria and Romania having joined the body in 2007 (S ajdik & Schwarzinger, 2008). The European Union is governed by various policies and guidelines that have been formulated over the years in response to various emerging needs in the alliance. Today, the union allows citizens of the member states to move freely within the encompassed

Profitability and Corporate Leverage Policy of Firms

Profitability and Corporate Leverage Policy of Firms Abstract This study attempts to determine the relationship between the profitability and leverage policy of firms of Fuel and Energy sector of Pakistan. The analysis was implemented on 27 firms in the Fuel and energy sector listed at the Karachi Stock Exchange for the period 2003-2008. Regression was used to find out the relationship between the independent variable (Profitability) and dependent variable (Leverage). We expect the negative relationship between the Profitability and the Leverage Policy of firms in the Fuel and Energy sector of Pakistan, confirming the pecking order theory of capital structure. The results found in our study were not as expected. The results showed that there is inverse relationship between profitability and leverage but our results were not that much significant to accept our hypothesis. So we rejected our pecking order theory hypothesis. Therefore we conclude that because of certain factors such as economic situation of the Pakistan, rising prices of oil all a round the world, interests rates and reliance of firms financing needs mostly on bank financing, pecking order theory model becomes insignificant in the Energy and Fuel sector of Pakistan. Chapter-1 Introduction Capital structure involves different decisions taken by a firm in financing its assets. Generally, a firm can solve this issue through different mixes of debts, equity, or other financial arrangements. It can also combine bonds, TFCs, lease financing, bank loans or many other options with equity in order to boost the market value of the firm. 1.1 Importance of the topic: Optimal capital structure plays a vital role in the overall value maximization of a firm. The strategic management of capital structure ensures access to the capital needed to fund future growth and enhance financial performance. Our focus in this study is to correlate the profit of the firm with its leverage. Importance of the study is to find out that which source of funds either retained earnings, debt or equity, a firm in the Fuel and Energy sector should prefer in order to optimize the profit and the value of the firm. In Pakistan, firms usually prefer short-term borrowing, because commercial banks are the major lenders and they do not encourage long-term loans. Up to 1994 firms did not rely on market based debt; in mid 1994 the government amended the Company Law to help companies to raise debt directly from the market in the form of TFCs (Term Finance Certificates). 1.2 Background of the study: Various capital structure theories had been discussed by many authors to explain the variation of capital structure of different firms. So many researches had also been taken place in order to solve the mystery of optimal capital structure in Pakistani firms. A thorough research study relating to the capital structure was carried by two Pakistani professors Shah and Tahir (2004) which attempted to answer the question of what determines the capital structure of Pakistani Listed firms other than those in financial sector. Booth, et. Al (2001) had also worked on the determinants of capital structures of 10 developing countries including Pakistan, but their data analyzed the firms that were included in the KSE-100 Index from 1980 to 1987. Shah and Tahir (2004) analyzed the data of non-financial firms for the period of 1997-2001 while our study differs from theirs on grounds of different sector, variables and period. 1.3 Objective of the study: The objective of this study is to find out the relationship between the profitability and the corporate leverage policy of firms in the Fuel and Energy sector of Pakistan. We are trying to figure out that the firms that have more profits in the Fuel and Energy sector have lower leverage. Our main focus in this study is to correlate the profit of the firm with its leverage in the context of pecking order theory. According to pecking order hypothesis firms tend to use internally generated funds first and than resort to external financing. This implies that profitable firms will have less amount of leverage. Therefore we expect a negative relationship between profitability and debt of a firm i.e. higher the profits of a firm, the lesser will be its debt. 1.4 Scope of the study: This study is limited on the Fuel and Energy sector of Pakistan. There are 27 firms of that sector which are listed on the Karachi Stock Exchange. But after screening the firms with incomplete data, we have selected 22 firms having complete data for six years from 2003-2008 as the study covers the period from 2003 to 2008. 1.5 Disposition of the study: This study is organized into five stages. In first stage we have described the background of our topic. In second stage review of literature has been done. In next stage we have explained our data and variables used in our analysis. At fourth stage we have discussed the model and the statistical test to be used. While the last stage concludes the results of the test. Chapter 2 Literature Review In this chapter we have gone through the various research studies regarding the leverage and well known capital structure theories. Capital structure refers to specific mixture of debt and equity a firm needs to finance its operations and optimal capital structure plays a vital role in the overall value maximization of a firm. This has given birth to different capital structure theories that attempt to explain the variation in capital structures of firms. The Miller Modigliani theorem showed that the market value of a firm is determined by the risk of its underlying assets and its earning power and is independent of the choices to finance its investments i.e the value of the firm is independent of the capital structure it takes on. But Myers suggested the contemporary thinking on capital structure in form of Static Tradeoff Theory. This explained that a firm initially following a target debt-equity ratio behaves accordingly. The costs and benefits related to the debt option make this target ratio. The costs and benefits are cost of financial distress, tax shields and agency cost. There are different theories that are used to explain the capital structure decisions which are based n the asymmetric information, tax benefits associated with the debt, bankruptcy cost and agency cost. The asymmetric information is related with pecking order framework and the other three are rooted in static trade-off choice. Under the trade off theory firms tried to equate the marginal benefits of an additional unit of debt with the related marginal cost, while holding the firms assets and investments plans. Under this model the key benefits are debt tax deductibility and the mitigation of agency cost while the main cost of additional debt is bankruptcy. Green, Murinde and Suppakitjarak (2002) observed that the tax policy also effect the capital structure decision of firms. Firm are allowed to deduct interest on debt in computing taxable profit under tax ordinance while the payments associated with the equity such as dividends are not tax deductible. Therefore, the tax effect encourages the debt usage by the firm if the rates are higher and more debt increases cash savings in form of after tax proceeds to the owner. Usage of debt in the capital structure of the firm also leads to agency cost which arises as a result of relationship between the share holder and manager while the firms management is the agent and the share holder being the principal. Agent may not choose to maximize their principals wealth. The conflict arises as the managers have less than 100% of the residual claim. Thus, managers may invest in projects that reduce the value of the firm while enhancing their control over its resources. Additional cash flow is the prime source of the agency cost. Debt helps to mitigate this agency cost as the firm is committed to pay out excess cash in the form of interest payments. The probability of bankruptcy increases with the increase in the level of the debt. If the firm goes beyond the optimum level of debt, then it is more likely that the firm will default on the repayment of the loan. As a result of that, the control of the firm will be shifted from share holders to the bond holders or the creditors who will liquidate the firm in order to recover their investment. There are also direct and indirect costs associated with the bankruptcy. Direct cost includes administrative costs of bankruptcy and costs of reorganization in the event of insolvency. While the indirect cost arises when the firm gets into financial distress. It may arise because of the change in the investment policies of the firm if firm foresees possible bankruptcy. In order to avoid the possible financial distress it will cut down the expenditure on certain departments like research and development, training of employees and advertisements etc. Therefore, if a firm is perceived to be close d to bankruptcy customers may be less willing to buy its goods because of low perceived quality of goods and the risk that the firm will not be able to meet its warranty obligation. Employees may also be less interested to work for the firm and creditors are less inclined to extend trade credit. Hence under the static trade off theory the optimal capital structure represents a level of leverage that balances the bankruptcy and the benefits of tax deductibility and mitigation of the agency costs. While The Pecking Order Theory of Myers (1984) and Myers and Majluf (1984), stated that firm while establishing its capital structure follow a hierarchy of financial decisions. First of all firm uses its internal financing i.e. retained earnings in order to finances its projects. In case of need of external financing, they prefer a bank loan first then go for the public debt. Thus in accordance with the Pecking Order Theory, profitable firms while having the available internal funds prefers not to incur debt for new projects. A study was carried by Benito, (2002) which considered the two most influential approaches, the trade off and packing order theories, in understanding capital structure decisions of firms of Spain and United Kingdom. This study made a valuable contribution to our study because of the same objective of testing Pecking Order Theory with reference to capital structure of firms. The resulting data included 6417 Spanish companies over period of 1985-2000 and 1784 British quoted non-financial companies over period of 1973-2000. The results provided significance in favor of pecking order theory, concluding debt ratios found to be significantly inversely related to cash flow and profitability of the firm and vary positively with its investment. In order to find the best empirical explanation for the capital structure of Brazilian firms Medeiros and Cecilio (2004) tested a model to represent the Static Trade-off Theory and Peking Order theory. This theory is helpful for our study because of the same independent variables that is profitability. Profitability all the STT streams sustain that a positive relationship must exist between profitability and debt. The stream based on bankruptcy costs states that these costs increase when earnings fall so that leverage tends to be lower for less profitable firms or those with higher earnings volatility. For the stream focusing on tax benefits, the more profitable the firm the more it benefits from the tax shield provided by interest payments. The agency stream believes that large amounts of free cash flows build up the dispute between shareholders and managers, which make those firms to issue more debt in order to diminish the problem (Fama and French, 2003). According to the POT, retained earnings are the firms best financing option. This type of resource does not produce information asymmetries and can be used promptly for new projects. The information asymmetry caused by equity issues or by more complex securities that require a higher degree of communication with the market is the basis of the POT. It is exactly to dodge the adverse selection premium brought by the information asymmetry that firms opt for internal financing as their major source of resources (Myers, 1984). The relationship between these two variables must be therefore negative. Medeiros and Cecilio (2004) The sample of their study included 371 non-financial firms with shares listed in the Brazilian stock exchanges from 1995 to 2002. The analysis of results of the study led to the conclusion that the pecking order theory provides the best explanation for the capital structure of those firms Another study on the capital structure was carried by Abor, (2008) comparing the capital structure of large un-quoted firms, small and medium enterprises (SMEs) and publicly quoted firms in Ghana using a panel regression model. On the grounds of the similar independent variable this study made a useful contribution to our review literature. The results showed insignificant difference between the capital structures of large unquoted firms and publicly quoted firms. The results of all sample groups showed that the total debt has relatively a high proportion of short-term debt. The results of the regression test indicated that age and size of the firm, profitability, risk, asset structure and managerial ownership are significant influencers in decisions regarding the capital structure of Ghanaian firms. Chiarella et.al (1991) conducted a study in Australia on the determinants of corporate capital structure by seeking to provide evidence on the significance of capital structure determinants in Australian context. This study provided a great support for writing review literature of our study. The analysis was carried on a sample of 226 Australian firms from 1977-1985. The results showed that company non-debt tax shields display a negative relationship with debt ratios. The results also supported the pecking order hypothesis of Myers and Majluf (1984) showing significant negative relationship of profitability with debt ratios and indicating that firms prefer to finance investments with internally retained earnings before issuing debts. The results provided some evidence of size effect indicating that the larger firms tend to employ more debts in their capital structure. Results showed positive but insignificant relationship between cash holdings and debt ratios while confirming the fre e cash flow hypothesis of Jensen (1986). Simultaneously results did not provide any support for growth opportunity and collateral value attributes as determinants of debt ratios. A study on the Malaysian companies regarding the capital structure and the firm characteristics was carried by an Indian professor Pandey (2000). This study is useful for our study because of one of the same independent variable i.e. profitability. The study was carried on Malaysian companies in order to examine their determinants of capital structure using data from 1984 to 1999 while classifying the data into four periods that relates to different stages of capital market of Malaysia. Results of the regression clarified that profitability, size; growth, risk tangible variables have significant impact on all debt types. Results showed persistent and consistent negative relationship of profitability with all debt ratios in all periods, thus accepting the prediction capital structure according to the pecking order theory. A research relating to the capital structure was carried by two Pakistani professors Shah and Tahir (2004) which attempted to answer the question of what determines the capital structure of Pakistani Listed firms other than those in financial sector. Because this study was also carried in Pakistan so it provided a support to a great extent in order to understand the capital structure according to Pakistans environment. A sample of 445 listed firms on KSE were taken and their five year data from 1997-2001 were taken into consideration. Pooled regression results indicated that assets tangibility is positively correlated with debt, concluding that asset structure does not matter in determination of capital structure of Pakistani firms. Size was positively correlated with leverage suggesting that large firms would employ more debt. Growth was found to be negatively correlated with leverage that supports the simple version of pecking order theory that growing firms finance their investmen t opportunities first by their internally generated funds. There was strong relationship between profitability and leverage. Profitability was negatively correlated with leverage that supports the pecking order theory. A study in Hong Kong was carried by Hung, et.al (2002) examing the inter-relationship between profitability, cost of capital and capital structure among property developers and contractors in Hong Kong. The results showed that capital gearing is positively related with assets but negatively with profit margins. Bartholdy and Cesario (2006) analysed the decisions regarding the capital structure of Portuguese non-listed bank financed firms. Primary purpose of the research was to find out the impact of debt tax shield on the decisions regarding capital structure of small non-listed firms. The secondary purpose was to find out that whether the determinants of capital structure of larger listed firms were also same as in case of smaller non-listed firms. The research explained that the solution of two big problems (agency and asymmetric information) for large firms are apparent on the balance sheet as restriction on debt. On the other hand it is less apparent on the balance sheet of smaller firms. This provided the smaller firms with the benefit of tax shield due to more debt. This research has provided a great support in writing our review literature and understanding the relationship between profitability and debt to a great extent. The sample of their research consisted 998 firms with 7765 fi rm years observations. The results concluded that the tax provisions regarding the carry forward of tax losses and debt tax shield play a vital role in determining the capital structure of small non-listed firms. It was also concluded that in order to solve agency problem traditional balance sheet variables were significant in large listed firms but were insignificant for the small non-listed firms with the exception of variables required to solve bankruptcy risk. A research study was conducted in Greece by Eriotis, et.al (2007) aiming to isolate the firm characteristics that effect capital structure. The investigation was performed using panel data for a sample of 129 Greek companies listed on Athens Stock Exchange during 1997-2001. The findings justified a negative relationship between the debt ratio of the firms and their growth, and size appeared to have a positive relation. Gropp and Florian (2008) conducted research study regarding the determinants of the capital structure of banks by examining the capital structure of banks from the prospective of empirical capital structure literature for non-financial firms. The sample of the study includes 200 largest listed banks (100 from US and 100 from EU) from the sixteen different countries (US and 15 EU members) from 1991 to 2004. The results suggest that the capital requirements may only be of second importance for banks capital structures and confirm the robustness of corporate finance findings in a holdout sample of banks. In order to examine the capital structure across countries a study was carried by Rajan and Luigi (1994). The primary objective of the study was to establish whether the choice of capital structure in other countries is based on the factors similar to those influencing capital structure of US firms. Study was on the 8000 non-financial corporations of G-7 countries (USA, Germany, Japan, France, UK, Italy and Canada) for the period of 1987-1991. After correcting the differences ranging from accounting practices to legal and institutional environments between the countries. results of the study showed extent to which firms are levered is fairly similar across the G-7 countries except UK and Germany being relatively less levered. Sakuragawa (2001) conducted another study regarding the capital structure of banks under non-diversifiable risk. The purpose of the research was to study the design of optimal capital structure of a large financial corporation when it faces a non-diversifiable risk. When there is a non-diversifiable risk the intermediary finds it profitable to issue equity because by issuing equity it can reduce the cost and the probability of banks failure. The intermediary designs the optimal capital structure by balancing the marginal benefit of reducing probability of banks failure against the marginal cost of debt-equity swap. Results showed that a large corporation under weaker conditions realizes more efficient allocation by issuing both debt and equity than by issuing only debt. An African study was conducted by cole-man (2007) whose aim was to examine the impact of capital structure on the performance of microfinance institutions. Panel data covering the ten-year period 1995-2004 were analyzed within the framework of fixed- and random-effects techniques. Results showed that the most of the microfinance institutions employ high leverage and finance their operations with long-term as against short-term debt. Results also revealed that the highly leveraged microfinance institutions perform better by reaching out to more clientele, enjoy scale economies, and therefore are better able to deal with moral hazard and adverse selection, enhancing their ability to deal with risk. Fernandez (2003) analyzed the driving forces of capital structure in Chile for the period 1990-2002. The purpose of the research was to study aggregate leverage and interest-bearing liabilities in isolation for all firms, and firms segmented by economic sector. Their sample of the study consisted of 64 firms having the complete information for the whole sample period of 1990-2002. Results while supporting the trade-off theory revealed that the firms favored equity over debt issues to cover their financing deficit because of the Chiles tax and monetary policies. In order to find out the determinants of very small firms financial leverage Barbosa and Cristiana (2003) carried a research. They described the relationship between profitability and financial leverage as: As far as profitability is concerned, the most common expectation in the financial structure literature is for a negative relationship with financial leverage. Toy and others (1974 p.877), Marsh (1982 p.126 footnote 22), Friend and Lang (1988 p.277), Titman and Wessels (1988 p.6) and Barton and others (1989 p.40) all say that in different words. According to them, a firm with a high profit rate, ceteris paribus, would maintain a relatively lower debt ratio because of its ability to finance itself from internally generated funds. The preference for raising capital first from retained earnings may be due, according to Titman and Wessels (1988 p.6), to the costs of issuing new equity or debt that arise because of asymmetric information or transaction costs. Marsh (1982 p.126 footnote 22) raises the possibility that the impact may be due to the tendency of firms to issue new equity immediately after periods of abnormally good performance. Hall and Weiss (1967 p.328) assert that relativel y profitable firms take some of their exceptional returns in the form of reduced risk, through retaining earnings, and, therefore, show lower debt to assets ratios. Rajan and Zingales (1995 p.1451) cite Jensen (1986) who predicts that, if the market for corporate control is ineffective, managers of profitable firms prefer to avoid the disciplinary role of debt. This preference would lead to a negative correlation between profitability and debt. Gupta (1969 p.522) speaks of a theory that extends the first belief above mentioned from the firm level to the industry level. Accordingly, profitable industries, because of the greater availability of internally generated funds related to their high profitability; tend to have lower debt in their financial structure. Last, Gale (1972 p.417-8) interprets leverage as representing the degree of risk or otherwise in the industries in which the firm competes and hypothesizes that leverage should then be negatively related to profitability. This a uthor himself acknowledges that his reasoning is somewhat at odds with previous discussions and theory, though. According to him, low debt to total capital ratios would reflect high industry risk because of two aspects. First, the corresponding capital structures would be the result of higher investment on the part of entrepreneurs, who, differently from lenders, place a lower value on security relative to rewards. Second, high-risk industries are, at least theoretically, associated with higher profitability. Barbosa and Cristiana (2003) Results of their research concluded that the growth, entrepreneurs risk tolerance, size and operational cycle were positively correlated with the financial leverage whereas asset composition, inflation, profitability and business risk are negatively correlated with financial leverage of very small firms. Chapter-3 Methodology In this section, we have explained the source of data, sample size, explanation and measurement of the variables, and the regression model. 3.1 Source of Data In this study financial data of firms listed on the Karachi Stock Exchange under Fuel and Energy sector of Pakistan is taken from the State Bank of Pakistan Publications Balance Sheet Analysis of Joint Stock Companies Listed on the Karachi Stock Exchange 2003-2008. 3.2 Sample size This study is carried on the Fuel and Energy sector of Pakistan. There are 27 firms of that sector which are listed on the Karachi Stock Exchange. But after screening the firms with incomplete data, we have selected 22 firms having complete data for six years from 2003-2008 as our study covers the period from 2003-2008. So we have 132 firm years for the panel data analysis. 3.3 Explanation and Measurement of the variables Basically our study follows the framework of Shah and Tahir (2005). We include only two variables in our study. First variable is leverage (dependent variable) and another is profitability (Independent variable). In this section we describe these two variables and explain how they are measured. 3.3.1 Leverage (Dependent variable) Leverage is explained as percentage of assets financed by debts. Different researchers have measured leverage differently. Frank and Goyal (2003) differentiated between two debt ratios, one based on market value while the other on book value. Debt ratio based on market value relates with the firms future situation whereas on the other hand debt ratio based on book value tends to reflect the past situation. While in our study measuring leverage through book value, we have mainly two reasons in our mind. First, one of the main benefits of debt is tax shield that is the interest payments are tax deductible expense, resulting in cash savings. Once the debt is issued these tax shield advantages do not vary by the market value of the debt. Second point in our mind while measuring leverage through book value is the relationship of debt with bankruptcy risk. The probability of bankruptcy increases with the increase in the debt. Moreover, in case of bankruptcy of a firm, the value of the debt through the book value of the debt is more relevant than the market value of debt. While measuring the financial leverage we faced a problem of choosing either total debt or only long term debt as percentage of total assets. Interestingly many capital structure theories favor long term debt but we have used total debt because the average firm size in Pakistan is small which limits their access to capital market because of technical difficulties and cost involved. So the firms in Pakistan prefer short term borrowing because of the fact that the major lenders in Pakistan are commercial banks and they discourage long term borrowing. Firms in Pakistan did not rely on the market based debt upto 1994, but in the mid of 1994 Government while amending Company Law, allowed firms to raise debt directly in the form of TFCs (Term Finance Certificates) from the market. Thus in our study we have measured the leverage through total debt to total asset ratio. 3.3.2 Profitability (Independent Variable) Profitability has been the main point of distinction between the Static Trade-off Theory and the Pecking Order Theory. Static Trade-off Theory explains that the firm with higher profitability has more reasons to issue more debt while taking tax shield benefit. While on the other hand, Pecking Order Theory presupposes that firms with larger earnings tend to use its internally generated funds i.e. retained earnings initially to fulfill their financial needs then they go for debt. Thus, Static Trade-off Theory expects a positive and direct relationship between profitability and leverage of a firm while Pecking Order Theory suggests negative relationship between the two above said variables. We have measured the profitability as the ratio of Net Income before Tax divided by the total assets. 3.4 Research hypothesis This research study supports the Pecking Order Theory hypothesis and our proposed research hypothesis is There is significant negative relationship between profitability and leverage of a firm. Ho: There is significant negative relationship between profitability and leverage of a firm 3.5 Regression Model Linear Regression analysis has been used in this study. Basically we have used pooled regression type of panel data analysis. By saying this we mean that the companys financial data and time series data are pooled together in a column. The equation for our regression model will be LG= ÃŽ ²0 + ÃŽ ²1 (PF) + ÃŽ µ. Where LG= Leverage ÃŽ ²0= Constant PF= Profitability ÃŽ µ= Error term Chapter 4 Results of the test and interpretation. This chapter contains the results of the descriptive statistics and linear regression test. There are 27 firms in Energy and fuel sector which are listed on the Karachi Stock Exchange. But after screening the firms with incomplete data, we have selected 22 firms having complete data for the six years from 2003-2008 as our study covers that specified period. So we have 132 firm years for the panel data analysis. 4.1 Data Consideration: For data consideration to be suitable for linear regression we graph the P-P plot of dependent and independent variable in order to check that the data is normally distributed. The P-P plots of profitability and leverage are as follows. Above Normal P-P Plot of Independent variable (Profitability) shows that the variable follows a normal distribution. On the other hand dependent variable (leverage) is also said to be fairly normally distributed. In order to show the linear regression model is appropriate for the data or not we graph a scatter plot between profitability and leverage which is as follows: Scatter plot shows that whether linear regression model is appropriate for the data or not. However above scatter plot appears to be suitable for linear regression. 4.2 Results of the test: After running the linear regression test on SPSS we have the following results. Table-1 Descriptive Statistics Total No: Minimum Maximum Mean Standard Deviation Profitability (PF) 132 -0.22 0.43 0.0515 0.12441 Leverage (LV) 132 .00 1.27 0.5588 0.27425 Valid No: (list wise) 132 Table-1 contains the descriptive

Pope Urban At Clermont

Pope urban II addressed the urgent need to act upon the Persians and their Napier private behavior. He explains the acts of the Persians and how gruesome they were towards t he empire. Curiously, I saw the ellipsis in the third paragraph and decided to look into the speech h further. The pope further describes the extreme violence the Persians enacted In detail. Pope urban II lets his people know that they need to take action and that Jerusalem belongs to the people of God and that the Persians do not rightfully deserve to own t e land.He makes the people believe that they really need to take action and as soon as possible. He was able to get them to chant â€Å"It Is the will of God, It Is the will of God. † and convinced the m that It was God who made them chant it in unison. He grabs the audience's attention and eke peps them interested enough to actually make them have a sense of pride and want to act or do whatever the Pope wants them to do. This Is extremely similar to c ontemporary politics. It has been done multiple times In the past decade alone.The Pope talks to the people of the empire salary to the way pres dent Bush spoke to people of the United States when going to war with Iraq. Both speakers (Pop e urban II and President Bush) were able to use specific home events to engage the people and make them feel a sense of togetherness as a whole. When President Bush spoke to the united SST dates, he was able to bring the minds and pride of Americans to join together and bring Justice. The e Pope also points out the â€Å"uncleanness† of the Persians; that the people of the empire are much higher than that of the Persians.He convinces them that It Is what is right, when truthfully, he has no Idea what could possible come of It. Similarly, President Barack Obama used a tactic like this when talking about the problems in the middle east. He convinces the public that it is in our best interest to I intervene with middle eastern issues. Pope Urb an II Is able to convince his followers that fighting the Persians is in the best benefit of the people of the empire. He uses Important events to help the people lists

Finite element method Free Essay Example, 1000 words

Complex restraints can be handled and thus solutions to indeterminate structures can be provided by this method. Complex loading can be handled by this method as well. Instances are: frequency or time dependent loading, element load such as those obtaining from inertial forces, thermal or pressure as well as nodal load. (Weck and Kim Jan 21 2004, Slide 15) Disadvantages of Finite Element Method There are some disadvantages of this method as well. First of all, this method does not provide any general solution in closed form. Thus, one cannot examine responses of the system to changes in the defining parameters. Secondly, the solutions obtained are only approximate ones and not exact solutions. Therefore, predictions always are associated with some minute degree of error. Additionally, the models are associated with inherent errors. Finally, because of the gravity of the issues that typically use Finite Element analysis mistakes made by users or analysts can have literally fatal consequences. (Weck and Kim Jan 21 2004, Slide 16) The patch test 1) Definition The Patch test, originally created by Irons, is a simple numerically performable test to evaluate the validity of the formulation and programmed implementation of an element. We will write a custom essay sample on Finite element method or any topic specifically for you Only $17.96 $11.86/pageorder now The element is assumed to be stable and then if it passes the Patch test, it is taken as assurances for the fact that all necessary criteria for convergence are satisfied. Thus, if such an element is used for the purpose of modeling other structures, the process of mesh refinement generates an approximate solution sequence that converges to the exact solution. Therefore, this test serves the purpose of being both a necessary as well as sufficient condition for convergence of finite element formulations. (Cook, Malkus and Plesha 1989, 129) 2) Recommended procedure The basic procedure for a patch test is to use a microscope to approximate the actual structure which is being solved with an extremely fine mesh. A patch of minute elements as well as a little region belonging to the real structure should be visible. Provided this region is adequately small, the observed stresses are sensibly constant. Thus, this patch of minute elements is expected to serve as a model for the constant stress. The patch test constitutes of the following recommended steps: a) We initialize the process by taking an arbitrary geometry of the patch of elements. The test is successful if a match up to 6 decimals is obtained and it fails otherwise. Based on one test, it is asserted that the process would be successful for all other geometries as well.

Common Knowledge How Companies Thrive by Sharing What...

title: author: publisher: isbn10 | asin: print isbn13: ebook isbn13: language: subject publication date: lcc: ddc: subject: Common Knowledge : How Companies Thrive By Sharing What They Know Dixon, Nancy M. Harvard Business School Press 0875849040 9780875849041 9780585258171 English Organizational learning, Business enterprises-Communication systems, Intellectual cooperation, Information networks--Economic aspects, Success in business. 2000 HD58.82.D585 2000eb 658.4/5 Organizational learning, Business enterprises-Communication systems, Intellectual cooperation, Information networks--Economic aspects, Success in business. Page iii Common Knowledge How Companies Thrive by Sharing What They Know Nancy M. Dixon Harvard Business†¦show more content†¦It is not news to organizations that they need to find ways to keep from continually reinventing the wheel. Although aware of the problem, organizations only recently have begun to construct processes that may change the too familiar predicament depicted in the cartoon. Perhaps organizations are now addressing the issue of knowledge sharing due to their growing awareness of the importance of knowledge to organizational success or perhaps because technology has made the sharing of knowledge more feasible. Whatever the impetus, organizations have started to do more than Page 2 talk about sharing knowledgethey have begun to put into place the tools and processes that can actually bring it about. Knowledge databases, best practice seminars, technology fairs, cross-functional teams, Does anyone know . . . ? e-mails, and groupware, to name but a few knowledge-sharing processes, have the avowed purpose of getting knowledge that exists in one part of the organization put to use in another part of the organization. Three Myths Pervading the idea of knowledge sharing are three myths. Perhaps myth is the wrong termmaybe they are just assumptions that seem reasonable at first glance, but when acted on send organizations to a dead end. Many of the organizations I studied started with one or more of these assumptions and then had to make corrections to get back on track. The three myths are (1) build it and they will come, (2) technology canShow MoreRelatedIdeal company1212 Words   |  5 Pagesï » ¿ The most successful companies in the world adopt different types of strategies, execute their ideas and bring them to life, overcome obstacles and may be greatly diverse from each other, but one thing they usually have in common is that they have a fundamentally strong human resources team which binds all the aspects of business together and align them towards the companies vision. 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