Bank Notes Essay

Linear Probability Models (LPMs) * Econometric model to explain repayment experience on past/old loans. * Regression model with a â€Å"dummy† dependent variable Z; Z = 1 default and Z=0 no default. * Weakness: no guarantee that the estimated default probabilities will always lie between 0 and 1 (theoretical flaw) Logit and Probit Models * Developed to overcome weakness of LPM. * Explicitly restrict the estimated range of default probabilities to lie between 0 and 1. * Logit: assumes probability of default to be logistically distributed. Probit: assumes probability of default has a cumulative normal distribution function. Linear Discriminant Analysis * Derived from statistical technique called multivariate analysis. * Divides borrowers into high or low default risk classes. * Altman’s LDM = most famous model developed in the late 1960s. Z < 1. 8 (critical value), there is a high chance of default. * Weaknesses * Only considers two extreme cases (default/no default). * Weights need not be stationary over time. 3. New Credit Risk Evaluation Models Newer models have been developed – use financial theory and financial market data to make inferences about default probabilities. * Most relevant for evaluating loans to larger corporate borrowers. * Area of very active continuing research by FIs. Credit Ratings * Ratings change relatively infrequently – objective of ratings stability. * Only chance when there is reason to believe that a long-term change in the company’s creditworthiness has taken place. * S&P: AAA, AA, A, BBB, BB, B and CCC * Moody’s: Aaa, Aa, A, Baa, Ba, B and Caa Bonds with ratings of BBB and above are considered to be â€Å"investment grade† Estimating Default Probabilities 1. Historical Data * Provided by rating agencies e. g. cumulative average default rates * If a company starts with a: * Good credit rating, default probabilities tend to increase with time. * Poor credit rating, default prob abilities tend to decrease with time. * Default Intensity vs Unconditional Default Probability * Default intensity or hazard rate is the probability of default conditional on no earlier default. * Unconditional default probability is the probability of default as seen at time zero. Default intensities and unconditional default probabilities for a Caa rated company in the third year Supplement point 14 by monitoring a combination of internal reports, prudential reports and market information. 16. Should intervene to require effective and timely remedial action to address liquidity deficiencies. 17. Should communicate with other regulators e. g. central banks – cooperation TOPIC 7: CORE PRINCIPLES OF EFFECTIVE BANKING SUPERVISION Overview * Most important global standard for prudential regulation and supervision. * Endorsed by vast majority of countries. * Provides benchmark against which supervisory regimes can be assessed. * 1995: Mexican and Barings Crises Lyon Summit in 1996 for G7 Leaders. 1997: Document drafted and endorsed at G7 meeting. Final version presented at annual meetings of World Bank and IMF in Hong Kong. * 1998: G-22 endorsed * 2006: Revision of the Core Principles * 2011: Basel Committee mandates a major review, issues revised consultative paper. The Core Principles (2006) * 25 minimum requirements that need to be met for an effective re gulatory system. * May need to be supplemented by other measures. * Seven major groups * Framework for supervisory authority – Principle 1 * Licensing and structure – Principles 2-5 * Prudential regulations and requirements – Principles 6-18 * Methods of ongoing banking supervision – Principles 19-21 * Accounting and disclosure – Principle 22 * Corrective and remedial powers of supervisors – Principle 23 * Consolidated and cross-border banking – Principles 24-25. * Explicitly recognise: * Effective banking supervision is essential for a strong economic environment. * Supervision seeks to ensure banks operate in a safe and sound manner and hold sufficient capital and reserves. * Strong and effective supervision is a public good and critical to financial stability. * While cost of supervision is high, the cost of poor supervision is even higher. Key objective of banking supervision: * Maintain stability and confidence in the financial system * Encourage good corporate governance and enhance market transparency Revised Core Principles (2011) * Core Principles and assessment methodology merged into a single document. * Number of core principles increased to 29. * Takes account of several key trends and developments: * Need to deal with systemically important banks * Macroprudential focus (system-wide) and systemic risk * Effective crisis management, recovery and resolution measures. Sound corporate governance * Greater public disclosure and transparency enhance market discipline. * Two broad groups: 1. Supervisory powers, responsibilities and functions. Focus on effective risk-based supervision, and the need for early intervention and timely supervisory actions. Principles 1-13. 2. Prudential regulations and requirements. Cover supervisory expectations of banks, emphasising the importance of good corporate governance and risk management, as well as compliance with supervisory standards. Supervisory powers, responsibilities and functions 1. Clear responsibilities and objectives for each authority involved. Suitable legal framework. 2. Supervisor has operational independence, transparent processes, sound governance and adequate resources, and is accountable. 3. Cooperation and collaboration with domestic authorities and foreign supervisors. 4. Permissible activities of banks is controlled. 5. Assessment of bank ownership structure and governance. 6. Power to review, reject and impose prudential conditions on any changes in ownership or controlling interests. 7. Power to approve or reject major acquisitions. 8. Forward-looking assessment of the risk profile of banks and banking groups. 9. Uses appropriate range of techniques and tools to implement supervisory approach. 10. Collects, reviews and analyses prudential reports and statistical returns. 11. Early address of unsafe and unsound practices. 12. Supervises banking group on consolidated basis (including globally) 13. Cross-border sharing of information and cooperation. Prudential regulations and requirements 14. Robust corporate governance policies and processes. 15. Banks have a comprehensive risk management process, including recovery plans. 6. Set prudent and appropriate capital adequacy requirements. 17. Banks have an adequate credit risk management process. 18. Banks have adequate policies and processes for the early identification and management of problems assets, and maintain adequate provisions and reserves. 19. Banks have adequate policies re concentration risk. 20. Banks required to enter into any transactions with related pa rties on an arm’s length basis. 21. Banks have adequate policies re country and transfer risk. 22. Banks have an adequate market risk management process. 23. Banks have adequate systems re interest rate risk in the banking book. 24. Set prudent and appropriate liquidity requirements. 25. Banks have an adequate operational risk management framework. 26. Banks have adequate internal controls to establish and maintain a properly controlled operating environment for the conduct of their business. E. g. delegating authority and responsibility, separation of the functions that involve committing the bank. 27. Banks maintain adequate and reliable records, prepare financial statements in accordance with accounting policies etc. 8. Banks regularly publish information on a consolidated and solo basis. 29. Banks have adequate policies and processes e. g. strict customer due diligence. Preconditions for Effective Banking Supervision 1. Provision of sound and sustainable macroeconomic policies. 2. A well established framework for financial stability policy formulation. 3. A well developed public infrastructure 4. A clear framework for crisis managemen t, recovery and resolution 5. An appropriate level of systemic protection (or public safety net) 6. Effective market discipline 001: IMF and World Bank Study on Countries’ Compliance with Core Principles * 32 countries are compliant with 10 or few BCPs * Only 5 countries were assessed as fully compliant with 25 or more of the BCPs. * Developing countries less compliant than advanced economies. * Advanced economies generally possess more robust internal frameworks as defined by the ‘preconditions’ 2008: IMF Study on BCP Compliance * Based on 136 compliance assessments. * Continued work needed on strengthening banking supervision in many jurisdictions, particularly in the area of risk management. More than 40% of countries did not comply with the essential criteria of principles dealing with risk management, consolidated supervision and the abuse of financial services. * More than 30% did not possess the necessary operational independence to perform effective super vision nor have adequate ability to use their formal powers to take corrective action. * On average, countries in Western Europe demonstrated a much higher degree of compliance (above 90%) with BCP than their counterparts in other regions. * Africa and Western Hemisphere weak. Generally, high-income countries reflected a higher degree of compliance. TOPIC 8: CAPITAL ADEQUACY Overview * Adequate capital better able to withstand losses, provide credit through the business cycle and help promote public confidence in banking system. Importance of Capital Adequacy * Absorb unanticipated losses and preserve confidence in the FI * Protect uninsured depositors and other stakeholders * Protect FI insurance funds and taxpayers * Protect deposit insurance owners against increases in insurance premiums * To acquire real investments in order to provide financial services e. . equity financing is very important. Capital Adequacy * Capital too low banks may be unable to absorb high level of losses . * Capital too high banks may not be able to make the most efficient use of their resources. Constraint on credit availability. Pre-1988 * Banks regulated using balance sheet measures e. g. ratio of capital to assets. * Variations between countries re definitions, required ratios and enforcement of regulations. * 1980s: bank leverage increased, OBS derivatives trading increased. * LDC debt = major problem 1988 Basel Capital Accord (Basel I) * G10 agreed to Basel I Only covered credit risk * Capital / risk-adjusted assets > 8% * Tier 1 capital = shareholders equity and retained earnings * Tier 2 capital = additional internal and external resources e. g. loan loss reserves * Tier 1 capital / risk-adjusted assets > 4% * On-balance-sheet assets assigned to one of four categories * 0% – cash and government bonds * 20% – claims on OECD banks * 50% – residential mortgages * 100% – corporate loans, corporate bonds * Off-balance-sheet assets divided into co ntingent or guarantee contracts and FX/IR forward, futures, option and swap contracts. Two step process (i) derive credit equivalent amounts as product of FV and conversion factor then (ii) multiply amount by risk weight. * OBS market contracts or derivative instruments = potential exposure + current exposure. * Potential exposure: credit risk if counterparty defaults in the future. * Current exposure: cost of replacing a derivative securities contract at today’s prices. 1996 Amendment * Implemented in 1998 * Requires banks to measure and hold capital for market risk. * k is a multiplicative factor chosen by regulators (at least 3) VaR is the 99% 10-day value at risk SRC is the specific risk charge Total Capital = 0. 08 x [Credit risk RWA + Market risk RWA] where market risk RWA = 12. 5 x [k x VaR + SRC] Basel II (2004) * Implemented in 2007 * Three pillars 1. New minimum capital requirements for credit and operational risk 2. Supervisory review: more thorough and uniform 3. Market discipline: more disclosure * Only applied to large international banks in US * Implemented by securities companies as well as banks in EU Pillar 1: Minimum Capital Requirements * Credit risk measurement: * Standardised approach (external credit rating based risk weights) * Internal rating based (IRB) Market risk = unchanged * Operational risk: * Basic indicator: 15% of gross income * Standardised: multiplicative factor for income arising from each business line. * Advanced measurement approaches: assess 99. 9% worst case loss over one year. * Total capital = 0. 08 x [Credit risk RWA + market risk RWA + Operational risk RWA] Pillar 2: Supervisory Review * Importance of effective supervisory review of banks’ internal assessments of their overall risks. Pillar 3: Market discipline * Increasing transparency – public disclosure Basel 2. 5 (Implemented 2011) * Stressed VaR for market risk * Incremental risk charge Ensures products such as bonds and derivatives in the trading book have the same capital requirement that they would if they were in the banking book. * Comprehensive risk measure (re credit default correlations) Basel III (2010) * Considerably increase quality and quantity of banks capital * Macroprudential overlay – systemic risk * Allows time for smooth transition to new regime * Core capital only retained earnings and common shares * Reserves increased from 2% to 4. 5% * Capital conservation buffer – 2. 5% of RWA * Countercyclical capital buffer * Tracing/monitoring of liquidity funding Introduction of a maximum leverage ratio Capital Definitions and Requirements * Common equity > 4. 5% of RWA * Tier 1 > 6% of RWA * Phased implementation of capital levels stretching to Jan 1, 2015 * Phased implementation of capital definition stretching to Jan 1, 2018 Microprudential Features * Greater focus on common equity * Loss-absorbing during stress/crisis period capital conservation buffer * Promoting integrated manageme nt of market and counterparty credit risk. * Liquidity standard introduced introduced Jan 1, 2015 Introduced Jan 1, 2018 Available Stable Funding Factors Required Stable Funding Factors Macroprudential Factors * Countercyclical buffer * Acts as a brake in good times of high credit growth and a decompressor to restrict credit during downturns. * Within a range of 0-2. 5% * Left to the discretion of national regulators * Dividends restricted when capital is below required level * Phased in between Jan 1, 2016 – Jan 1, 2019 * Leverage Ratio * Target 3% * Ratio of Tier 1 capital to total exposure > 3% * Introduced on Jan 1, 2018 after a transition period * SIFIs * Required to hold additional loss absorbency capital, ranging from 1-2. 5% in common equity

Educational Theatre Essay

We have been trying to put these issues into different types of drama and trying to put across all the different sides to these issues. For example rape: Is one rapist, worse than another? In this essay I am going to be explaining what we did to put these issues across in a form of drama, what complications we came across, what my part in each drama was and what went well and what went wrong. My group set about the task of putting Surrogacy across by trying to look at every aspect of it. Our aims were to show how many different people come into it and how it affects each individual involved. For instance, I played the part of the surrogate mothers employer. Before the surrogate mother had decided that she would carry the baby, she came to me as her employer to explain the situation. What was going through my mind was things such as: How much time off work she would take, how much it would cost the company etc. So I was reluctant to let her carry this baby but was persuaded in the end. We also looked at other aspects that would affect the Surrogate Mother. These included: How her social life would be affected, how her friendship with the person she was carrying the baby for would develop, her family and how she would be affected financially. One problem with the surrogate mother in our play had been that she didn’t have the backing of her parents. I also played the role of her father and insisted that I wouldn’t speak to my daughter again. This was because I was playing the role of someone with very old-fashioned values and thought that what my daughter was doing was disgusting and not very ethical. This put a massive amount of strain on the surrogate mother. She basically had to pick between her friends and family. In the end she chose her friend though because she knew how much she wanted a baby and how much it would mean to her. So our group basically tried to show all the different sides there are to surrogacy, its not just about someone carrying a baby for someone, it’s about a lot more than that. What I think went well was how flexible the people in our group were. We all played 3 or 4 different characters during the play and we all managed with this really well. I played a counsellor, the surrogate mums father and her boss. Another thing I think we did well was our setting out of the stage. Between each scene the stage had to be rearranged quite a lot and the members of our group did this quickly and efficiently. The things we did badly I thought was the acting of emotions. Most people of the age of the members in our group have had little or no experience with an issue such as surrogacy. Therefore they did really well to act as they did but I still don’t think we done it quite as good as we could have. My conclusion is that educational theatre is the most gripping type of theatre. And to do it well you need actors and good stage directions. If I were to work on this project again I would make sure that a lot more research had been done into the issues we had to deal with in these plays. I think this would make the acting a lot more realistic and give the actor/actress a bit more of an idea of the role they are playing.

Atlantic Computer Case Study Essay

Atlantic Computer developed a product, the â€Å"Atlantic Bundle†, to meet an emerging basic server market. The Atlantic Bundle is a Tronn server coupled with the Performance Enhancing Server Accelerator software tool â€Å"PESA†. Atlantic Computer must decide on the pricing strategy. Situational Analysis The external analysis is as follows: †¢Customers: The first customer identified has a primary need to host websites, â€Å"Web Server† customer. The second customer identified has a primary need for file servers that help layout designers share graphic, text, and layouts, â€Å"File Sharing† customer. Customers in these segments appear to be the ones that will benefit the most from the PESA tool. †¢Competition: The primary competition in the market is Ontario who claims 50% of revenue market share with the remainder of market comprised of many smaller venders (external threat, Appendix A). Ontario’s business model focuses on driving out non-value added costs and competing largely on price (value pricing). Its products are sold primarily through the internet. †¢Collaborators: The server division relies upon a high-touch direct sales channel at a higher cost than that of online sales. Sales reps receive 70% salary and 30% commission. †¢Context: The largest segment of the server industry is the high performance server segment. The segment is expected to demand approximately 200,000 units next year and is expected to grow at approximately 3% annually over the following two years. The basic server segment is a newer segment with strong forecasted growth of 36% (external opportunity, Appendix A). The segment will comprise approximately 20% of total units sold next year at 50,000 units. By the third year of the forecast, the basic server market will make up approximately 30% of total units sold. The internal analysis is as follows: †¢Company situation: Atlantic is a well-established company with over 30 years of experience in the server market. The company is known for providing top-notch, highly reliable products and high quality, responsive post-sales assistance (internal strength, Appendix A). Atlantic has focused on selling high-end performance servers to large enterprise customers. The â€Å"Atlantic Bundle† was developed to assist the company in emerging into the basic server segment. The product was created to produce a basic server without creating a substitute product to the high performance servers. However, the logic seems flawed as customers would not have viewed the basic server as a substitute to the high-performance servers (internal weakness, Appendix A). In the past, Atlantic’s sales force gave away software tools. †¢Relative market/competitive position: Ontario’s Zink server performs at approximately the same level as Atlantic’s Tronn. Even without the built-in PESA R&D costs the Tronn was priced higher relative to the Zink. Hence, the target market was narrowed to include customers that require more than one server. PESA allows the Tronn to perform up to four times faster than its standard speed. The â€Å"Atlantic Bundle† will allow companies to reduce the number of basic servers they must purchase and reduce operating expenses such as electricity charges and software license fees. Mr. Matzer indicated the â€Å"Atlantic Bundle† is the sale they want. †¢Results: The gains to customers from the PESA software tool were examined and it was found that the Web Server and File Sharing application segments will benefit the most from the tool. The conclusion was based on the benefit to customers of being able to purchase fewer servers and the resulting savings (internal strength, Appendix A). †¢Challenges: The primary challenge will be to address whether Atlantic will be successful utilizing its commissioned sales force rather than online sales. Another problem arises in how to motivate the sales force and the training required to sell the â€Å"Atlantic Bundle†. Finally, software has historically been given away which appears to be the industry norm. Charging for software may alienate customers (internal weakness, Appendix A). Alternative Courses of Action Free PESA Software with Purchase. Rather than regarding the PESA R&D as a sunk cost, I chose to distribute the costs to every server. The price under this route was determined to be $2,122 (see Appendix B). The primary drawback is that a customer who would have normally purchased the Tronn without the software would be charged a higher price ($2,122 vs. $2,000). Continuing with the tradition and norm of free software, staff would not have to be retrained and customers will not feel alienated. Furthermore, the one-bundle price could easily be transitioned to on-line sales, and the low price will increase market share. The â€Å"free† software could create an illusion of low perceived value. Finally, the lower price will result in lower profit margins, and it does not take into consideration the value advantage received by the customer. Competition Based Pricing. The price under this route was determined to be $3,400 (see Appendix C). Under this route, the company will earn more profit per bundle sold. Additionally, minimal effort is required to determine the price. However, the competition based pricing creates indifference between the â€Å"Atlantic Bundle† and its competition. The higher price will also reduce market share and could stir a pricing war. Cost-Plus. The price under this route was determined to be $2,245 (see Appendix D). Atlantic would gain market share under this route as the price is low relative to the benefits the customer receives. Additionally, the pricing will remain the same for the next three years. This approach does not take into consideration the value advantage received by the customer. Also, it results in lower profit margins per bundle sold. Value-In-Use. The price under this route was determined to be $3,200 (see Appendix E). The primary benefit is that the approach is customer focused. The price is justified and the customer will perceive higher value for the price. Higher margins will also be earned. However, Atlantic will lose market share under this route at the higher price. Additionally, staff would have to be extensively re-trained and motivated. Customers who primarily purchase online may be reluctant to sit through â€Å"We can save you money!† sales pitches. Recommendation The company should proceed with the free PESA software route. The primary benefit is that the company will be able to initiate online sales which will reduce training costs, salaries, and commissions and will make up for the lower profit margins earned. One primary drawback is a customer will be charged a higher price even if they do not require the PESA tool. However, the target market has been narrowed to include customers that require more than one server, because it is unlikely that a customer who requires only one server will purchase the Tronn over the Zink. The most likely response from Ontario is to lower the price of the Zink to remain competitive. At the low price of $2,122, Ontario would have to lower Zink’s price to less than half of the price of the Tronn to fight for market share from the target market. Finally, the lower price feeds into the market-penetration strategy to maximize market share. The issue of perceived low quality can be disregarded as customers h ave proven the low-cost strategy utilized by Ontario has not affected their opinions on quality. Conclusion The free PESA software will allow the company to compete on the same level as Ontario through price and online sales without having to retrain employees, stray from the general rule of providing free software, or introducing sales pitches to customers who will likely be reluctant to take part. The low, competitive price will support market penetration and favor Atlantic should Ontario reduce its prices.

International entrepreneurship 2 Essay Example | Topics and Well Written Essays - 2750 words

International entrepreneurship 2 - Essay Example Provision of Managerial Advice Governments have often found it necessary to intervene in SME operations as they play a crucial role in economic development. If the SMEs are of strategic importance to the nation; therefore, the government cannot risk them collapsing due to the competitiveness of the international free markets (Carter and Evans 2012, p.50). Governments can intervene by use of the financial systems put in place in order to ensure that the small businesses’ managers are properly trained on financial and managerial operations. This would have the effect of increasing small businesses in the nation due to increase in expertise available and improved quality of service. In Germany after the destruction of the economy during World War II, small businesses were almost non-existent and the erection of the Berlin wall resulted in Eastern Germany lagging behind the West. As the two sides united in 1991, Eastern Germany’s small businesses stood at 80000 private craf tsmanship firms with the largest employers having up to 1000 (Welter and Smallbone 2002, p.23). Due to the risks of lending money to such clients, German banks were instructed by the federal government to take an active role in the operations of clients businesses. This included offering the clients advice this was to prevent the loss of their loans but also led to better security for the bank, as they were sure of how their investments were spent. Cross Border Entrepreneurship Cross border entrepreneurship can occur through partnership agreements between neighbouring countries. Cross border entrepreneurship (CBE) is when two or more countries will initiate business activities to meet the needs of the trading country. Therefore, with cross border trade, specialisation occurs on a national scale as SMEs begin to produce goods tailor made for the trading partner. Cross border entrepreneurship requires good regional relationships to take place and governments to initiate the activities before small businesses can start producing subsidiary goods. The governments of the trading countries will have to have lower custom standards for goods from the selected countries. It has been observed that one unplanned advantage that does result from CBE is an increase in tourism from the trading countries (Welter, Smallbone and Xheneti 2012, p.203). These includes Greece, Macedonia and Bulgaria, which have implemented a cross border entrepreneurial policy that has seen Greece invest over 1.5 billion dollars in Bulgaria between 1995 and 2005 (Welter Smallbone and Xheneti 2012, p.90), which has led to an exponential increase in trade volumes. Albania was recently included and combined its agricultural resources with Bulgaria for Albania and Greece. The governments of the four countries have offered subsidies to their partnering countries while removing the trade barriers and protectionist policies other countries receive when trading. The unemployment problem in Greece has been a barrier to effective trading and until it is resolved, cross border trading will not be fully implemented. Subsidies Subsidies are incentives given by governments to various industries in order to promote growth and development in various fields. Small businesses do not enjoy economies of scale and during the formative years, they will find themselves lacking in many facilities that larger

Hagar Currie Shipley Essay Example | Topics and Well Written Essays - 750 words

Hagar Currie Shipley - Essay Example She does manage, however, to marry the exciting, thrilling and rebellious part of the human spirit to the hard-working, achieving and socially acceptable side finally, in her grandchildren. Through all of this, Laurence makes Hagar an unforgettable character because we learn through the book she is a real person with wants and needs and dreams. As the reader learns, Hagar Shipley's dreams were so simple, she didn't even know what they were until it was almost too late. At three crucial points in the book, Hagar speaks about the things she wants. The first time is a bluff. When Hagar returns from two years at school "down East," she confronts her father about what she plans to do. "I want to teach. I can get the South Wachakwa school," she defiantly tells him (p. 43). But it is as though she expects a conflict, and is even looking forward to one. She knew that her father was just like her -- very stubborn and blunt -- and she goes in to the confrontation with full knowledge of his response. What it appears that Hagar wants is not to teach, but some affection from her father, or even just some sign that he is capable of affection. The only time Hagar ever saw him express anything resembling an emotion was when she hid in the chokecherry bush at the cemetery as he and No-Name Lottie Drieser's mother apparently terminate an affair (or attempted affair) after the death of her husband. During the confrontation with her father, he reaches an even higher level of rage, which he takes out on the newel post, the knobby carving at the top of the wooden stair railing. He wrings the neck beneath the head-like newel post like the neck of a person. When he expresses, however briefly, that he needs her around, he grips her hand so tightly, it hurts. Instead of recognizing their need for each other, and for the simple expression of affection that is natural for a father and daughter, the encounter ends badly. Hagar pulls away as though she had just touched a hot stove. She has gotten what she wanted: a sign that she is important to him, but in all her pride, cannot go after him when he goes outside. In this she is just like him; they are both proud in destructive ways. This first simple dream, to be loved by one's parent, remains out of her reach because Hagar lets it remain there. At this point in the book, three years pass quickly. Hagar has done what her father wanted, ex cept she rejects all his suitors. In short order, she meets Brampton Shipley and embarks on an ill-advised marriage that flouts everything she was raised to believe. The next time Hagar speaks of a dream, it is many years later when she has returned to the Shipley home while her estranged husband Bram is dying. She insists that what she wants is for her younger son John to be happy. By this point, Hagar has identified John as the true heir of her father, rejecting her hard-working but plain older son Marvin. She has refused, all these years, to see that John is like Bram, and John is the one who must tell her. She had a clue many years before when she gave John her father's clan pin and he just sticks it in his pocket. John later trades the pin for a worthless knife, which ultimately is worth only a pack of cigarettes. The sightless stone angel cannot be expected to see clearly, but the relentlessly prideful Hagar just refuses to. " 'You always bet on the wrong horse,' John said gently. 'Marv was your

Nuclear Power Must Not be Phased Out Essay Example | Topics and Well Written Essays - 2750 words

Nuclear Power Must Not be Phased Out - Essay Example The rest is either exaggerated or purely hypothetical. Despite the claims against it and despite the mass appeal of such claims, nuclear power must NOT be phased out for the simple reason that it is one very sustainable source of energy. Nuclear energy remains sustainable because it is an energy source which is almost free from greenhouse emissions and thus will not likely have a great impact on climate change. Anti-nuclear power activists argue that most of nuclear energy comes in the form of fossil fuels and that this will eventually contribute to the greenhouse effect.1 This stems from the fact that fossil fuels, although not a direct source of nuclear energy, is the energy source upon which various stages of nuclear power production are made possible. In fact, electricity is used for various stages of the nuclear process such as uranium enrichment, the building of power plants, and the processing and storage of nuclear waste. Moreover, the idea is that the goal of nuclear fission is still the production of electricity, which is a major source of greenhouse gases.2 All these are believed to generate a â€Å"relatively high† amount of greenhouse gas emissions.... go to the opposite extreme in claiming that nuclear energy is â€Å"the world’s largest source of emission-free energy,† it would suffice to humbly admit that nuclear energy still contributes to the greenhouse effect, but the point is that what it contributes is statistically negligible. Aside from the insignificant amount of emissions from nuclear energy, its sustainability also depends on the idea that its waste products are relatively manageable. Nuclear waste is something that remains dangerous even for thousands of years and that there is always a possibility of contaminating huge areas. Furthermore, it is a cold hard fact that â€Å"there is no completely safe way to store nuclear waste.†6 Moreover, there is no guarantee that research on nuclear waste management will turn out to be successful.7 Admittedly, the issue of nuclear waste disposal is a strong argument against the sustainability of nuclear energy. Nevertheless, the volumes of wastes from fossil fu els are relatively much greater in quantity compared to those produced by nuclear power plants and thus, potential environmental damage is greatly reduced.8 Volume of wastes produced may be a minor issue in the environmental sustainability of nuclear energy but it is not as important compared to the factor of waste management. It may be true that nuclear wastes proves to be a threat to the environment but the nuclear technical community is rather more optimistic in believing that nuclear wastes can be contained or isolated safely until radioactivity cannot anymore harm humans or the environment.9 The solution is research and as of the moment, efforts are being made by governments in order to minimize emissions such as nitrogen oxides and particulate matter.10 The issue of nuclear waste disposal, therefore,

The theory of endogenous money Essay Example | Topics and Well Written Essays - 1000 words - 1

The theory of endogenous money - Essay Example endogenous money theory based its arguments on classical economics, it proved a constructive attempt for providing alternative theoretical framework for dealing with unsatisfactory IS/LM model. As of now, policy makers are receiving utterly contrasting advice from economists concerning how to surmount the prolonged financial sprawl in the USA and Europe: a number of them propose austerity while others advocate for deficit spending. With this regard, this paper will seek to assess the arguments and the probable impact of both policy extremes in the light of the theory of endogenous money. Fiscal austerity as well as fiscal stimulus brings about numerous impacts on the economy of a country, depending on the level or degree in which they carry out the redistribution of income to both the low and high earners. After the 2007/2008 economic slump, many nations continued to struggle with the view of reducing government debt levels. However, as time went by, it came to a point where the US and Europe’s governments accepted that they faced great level of government debts and as such, they ought to increase their revenue, cut their spending, default on their obligations, or thereof combine all of them. Some policy makers recommend austerity because it is an intriguing option and rarely takes place on government debt even at times when the available solution is painful (Keen and Grasselli, 2012:3). In spite of the measure that default increases the future borrowing cost sharply, austerity leaves tax increased and the level of government expenditure cut. Fiscal austerity, in a number of ways, seems to be the contrast for of fiscal stimulus policies. This is so because it leads to tax cuts and increase spending applied by government at times whose purpose is to expand the country’s economy. With reference to the endogenous theory, some policy makers seem to propose austerity due to its impacts. First, with austerity, low-income earners will be in a position to have

Alexander Hamilton vs Aaron Burr Essay Example | Topics and Well Written Essays - 1250 words

Alexander Hamilton vs Aaron Burr - Essay Example This dual occurred on July 11, 1804. Both Hamilton and Burr served as officers in the revolutionary war and then later tuned to politics. Hamilton became the secretary of American treasury during the George Washington administration and Burr became the New York senator and the vice president of America in the Thomas Jefferson administration. Even though the conflicts between them started as early as in the 1790’s, it attained fearful proportions in the early part of the 19 th century. (McNamara) Thomas Jefferson and Aaron Burr fought for the ticket of Democratic-republican alliance for the President election in 1800. Both of them got 73 electoral votes each and the fight ended in a tie. Hamilton used this occasion very well and wrote letters and used all his influence with the Federalists to thwart Burr. The voting went on for several days, and after 36 ballots the tie was finally broken. Thomas Jefferson became the President of United States and Aaron Burr was declared as the vice president. It is believed that Alexander Hamilton played a major role in defeating Aaron Burr (Election of 1800 Was Significant and  Controversial) In 1804, even though Aaron Burr ran for governor of New York State, he lost the election, due to vicious attacks levelled against him by Hamilton The conflict between these two prominent figures continued at the beginning of the 19 th century also and finally Burr issued a challenge. Both of them agreed to finish their conflict in a dual fight. They agreed to assemble at a duelling ground on the heights in Weehawken, across the Hudson River from Manhattan, on the morning of July 11, 1804 with their supporters (McNamara). Burr arrived first at the sight as agreed between them and Hamilton arrived after the Burr and his supporters took positions. Both the parties exchanged salutations before the beginning of the fight. They positioned at a distance of ten full paces. They then proceeded to load the pistols in each

ACCESS TO EDUCATION AS A WOMEN'S RIGHTS VIOLATION IN IRAN AND PAKISTAN Research Paper

ACCESS TO EDUCATION AS A WOMEN'S RIGHTS VIOLATION IN IRAN AND PAKISTAN - Research Paper Example citizens, three reasons can be perceived as standing paramount to human rights progress on education in Islamic countries: 1) The internal case of religion or the exercise of a particular aspect or type of Islamism. 2) The external case of orientalism or the policies and practice of the Western world that affect human rights outcomes in Arab regions; 3) The economy or particularly extractive industries, which are predominately male driven, on the region in terms of society and culture. By focusing the primary concern of the study towards the exploration of the availability of educational opportunities in Pakistan and Iran, the research aims to understand the male-dominated elements that thrive in these particular societies and how it has led to the oppression of women who reside in this part of the world. As stated previously, the assessment and analysis which has been conducted in this paper can be examined from three critical elements and theoretical perspectives which are that of 1) Islamism 2) orientalism and 3) economic considerations of the environment. From a scholarly point of view, the case of Islam and the rise of religious extremism in both Pakistan and Iran is an internal matter of the states because it establishes the foundations on which the nations’ constitution, judiciary and legal systems have come into being. In recent years, the rise of extremism in Pakistan which has led to the creation of various Taliban factions that strive to prohibit women from gaining education is demonstrated by the case of 16-year-old education activist, Malala Yousufzai who was shot by the Taliban in 2012 for raising her voice against their injustices which included the destruction of girls’ schools and colleges in Swat District. Indeed, many of the cultural elements and factions that thrive in Pakistan and Iran are based upon the inspirations of religious text but more so it is the interpretation of the text that is responsible for developing the social matters of

Coming to America Coursework Example | Topics and Well Written Essays - 250 words

Coming to America - Coursework Example Assimilation though is not so much of a problem with the second or third generations of immigrants as compared to the first generation immigrants because they seem to be all too willing to adapt with gusto the American culture, sometimes to the dismay of their immigrant grandparents. 2. What does it mean to be Americanized? The AudioEnglish.net website describes being Americanized as "an assimilation into American culture† (Americanization, n.d.). 3. Is this something that immigrants should strive for or avoid? I think that immigrants should try to be Americanized but not to the extent of totally abandoning their own cultures. 4. Why? Immigrants should not â€Å"give up† their cultures in exchange of the â€Å"American way† because their â€Å"culture represents their economic and political power in the United States, and, hence, culture becomes a weapon in helping them struggle to attain self-esteem and empowerment† (Park, 1999). However, it is important t o note that in deciding to become an immigrant, one should have already been prepared to yield to the American culture because at some point, it becomes a necessity if one wants to succeed and prosper in the United States. Discussion II 1. How does being an immigrant complicate or enhances the life experience of being an American woman? Being a woman immigrant in America has its advantages and disadvantages.

The film Educating Rita Essay Example for Free

The film Educating Rita Essay Educating Rita tells a story of two people from the opposite ends of life. An uneducated working class woman finally realises the value of education and class and with the assistance of her alcoholic upper class tutor Frank Bryant, she embarks on a journey to gain the knowledge that she deeply yearns for. There are many advantages that a film has over a production of a play. It would be inconvenient and problematic to have lots of settings and changes therefore we immediately know that the film Educating Rita has more advantages over the play. It has close up shots of the characters and different settings. The burning books scene is a great example of this. In this scene Denny (Ritas husband) find a pack of Contraceptive pills which Rita has been taking. Outraged he throws all of Ritas books into a flame. We see Rita and the books through many different angles. One of the shots includes us looking at the burning books from Ritas point. This makes us feel empathy. We also see Rita from where the books are burning. At this point we feel sympathy for her as we see the expression on her face how miserable she is about her books. In the play we would not see Denny burning Ritas books and Rita helplessly just standing there from this amount of angles. We are only able to see the play from one angle which is from out seats. Another advantage that the film has over the play is the added scenes. Added scenes one the most common ways a film can use other methods in order to put across its message. A good example of this method is the scene when Denny finds the contraceptive pills. We do not see this in the play. We see Denny entering the living rooms and tossing the packet on the table. In the film we sense trouble instantly when we witness Denny looking under the floor boards as we earlier saw Rita hiding the pills in the same spot. Throughout the entire film, there are a number of shots that describe the lifestyles of both characters. Ritas journey takes us through her neighbourhood. Through several long shots we instantly understand that the area is almost a dump. The streets are littered heavily, there are abandoned caravans on the sides, two large tanks on the far end of the street which is extremely hazardous and a siren blares in the distance indicates danger. This scene concludes that lower class people who can only afford up to this degree live in an environment like this. On the other hand, Franks environment is the opposite. As Frank walks home we see large amount of space including trees spread out finely, autumn leaves landing swiftly on the ground, parked cars and bird chirping in the distance.

Isoelectric Focussing Essay Example for Free

Isoelectric Focussing Essay Isoelectric Focussing The method of separating proteins according to their isoelectric points in a pH gradient is called isoelectric focusing. This technique was discovered by H.Svensson in Sweden. This method has a high resolution power because ordinary paper electrophoresis resolves plasma proteins into six bands where as isoelectric focusing resolves it into 40 bands. In conventional electrophoresis the pH between anode and cathode is constant and the positively charged ions migrate toward the cathode and the negative ions migrate toward anode. But in isoelectric focusing, a stable pH gradient is arranged. The pH gradually increases from anode to cathode. When a protein is introduced at a pH which is lower than its isoionic point, it will possess a net positive charge and will migrate in the direction of the cathode. Due to the presence of pH gradient, the net charge of the molecule changes due to ionization as it moves forward. When the protein encounters a pH where its net charge is zero, it will stop migrating. This is the isoelectric point of the protein. Every protein present in the mixture will migrate to its isoelectric point and stops its migration there itself. Thus, once a final stable focusing is reached, the resolution will be retained for a long time. Enzyme proteins resolved by IEF are then separated in a second dimension based on their molecular weight. To conduct this, IEF gel is extruded from the tube and placed lengthwise on a slab gel of polyacrylamide saturated with SDS. When an electric current is applied, the enzymeproteins migrate from the IEF gel into the SDS gel and then get separated according to their mass. This method helps in excellent separation of cellular enzyme-proteins. Uses: The two dimensional gel electrophoresis is used in developmental biochemistry to monitor the increase or decrease in the intensity of a spot representing as specific protein as a function of cell growth. It is a standard method of judging protein purity.

Economic and Financial Integration in Emerging Markets

Economic and Financial Integration in Emerging Markets

huck finn Essay -- essays research papers

Huck Finn: America’s Fascination with the Bad Boy   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the history of American Literature, the use of the ‘bad boy’ or the rebel in the literature has always fascinated readers. We may ask ourselves why would a bad person with typically bad morals and a bad attitude appeal to people in society? American society typically flocks toward certain characters in literature, based on their character. In The Adventures of Huckleberry Finn, by Mark Twain, we are able to examine one of the most famous rebellious young men in the history of American literature. Huck reveals all the typical qualities of a ‘bad boy’, while retaining his inner compassion. Through analysis of Huck and other characters in American Literature, we can come to a conclusion that the ‘bad boy’ is usually a character that is non-conforming to society, such as in religion, school, and moral standards, while retaining their compassion inside. Although these rebellious boys may look tough and scary on the outs ide, on the inside they actually have a good heart and are able to have feelings such as remorse, regret, love, and compassion for others. In addition, there is a thin line between the American bad boy that we all know and love, and truly a bad person. Both come off tough on the outside, but it is the inner character that will separate ‘the men from the boys’. The rebellious boy we are fascinated boy has a good heart, while the other ‘bad boy’ is bad in all aspects. People are drawn to the inner moral fiber, not how bad people are on the outside. This is why Huck is so famous in literary history. It is evident that he has a tough outside, but a caring personality on the inside.   Ã‚  Ã‚  Ã‚  Ã‚  Foley 2 Huck is far from a typical child in all aspects of his character, life experiences, and maturity. Huck doesn’t conform to society whatsoever, and has his own opinion about everything. In a society as religious as his, he says a lot of cruel things about religion and what he thinks of it, especially when it comes to hell. â€Å"Then she told me all about the bad place, and I said I wished I was there. She got mad, then, but I didn’t mean no harm. She said it was wicked to say what I said; said she wouldn’t say it for the whole world; she was going to live so as to go to the good place.† (Twain 33). Huck clearly displays his thinking on religion throug... ...nbsp;  While Huck represents the ‘American bad boy’, Tom Sawyer is presented as a FOIL of Huck. Huck does the things he needs to do in order to survive, while Tom Sawyer is living in his own fantasy world. Everything in Tom’s life revolves around these fairytale adventures he reads about in books. Tom conforms to society, while Huck clearly does not. Tom has no worries though, as far as survival and having a place to go. He loves to make everything difficult, in order to do it ‘the way they do it in adventure books.’ The two boys are total opposites, in the form of character, goals and actions.   Ã‚  Ã‚  Ã‚  Ã‚  America has always had a fascination with the rebellious young boy, and it is very possible that the novel The Adventures of Huckleberry Finn, by Mark Twain, brought about this loving for this type of character. Huck’s character has both the noticeable bad Foley 6 boy attitude and tough outside, while also having a good heart and a caring personality. His character brings out the reader’s ‘id’ as Freud would say. It brings out the naughtiness inside the reader’s personality, while still making him lovable because he is really a good person on the inside.

Commentary on My Writing :: Papers

Commentary on My Writing The text I have written is a letter to a writer in the tabloid newspaper "The Sun". This text is written in a style aimed at an older reader who is qiute educated with the age varying from 30-50 years of age, or a perosn who has similar opioions on some tabloid newspaper articles as the person I have presented myself as. Unlike my first piece, my second piece entitled "extracts from moments in time" is not opinionated, although the sublect is the same, both pieces are presented very differently with the content, audience and purpose in mind. I chose the topic of how the media intrudes on the lives of celebrities, and both texts explore this subject. The second text is in an autobiography style, which explores the feelings of a celebrity on a personal level. This piece is aimed at people from the age of 18-30, because it involves some issues that I feel some people of that age might be able to relate to. To begin with I will look at my first piece. My first piece is highly influenced by one of my inspirational pieces and in it I have included as one of the main topics of arguement quotes form that piece. The formality of this piece is very formal, this is shown by the layout of the letter and the inclusion of of a return address in the top right hand corner. I have used standard english in this peice, which is also another reason for why it is aimed at qiute an educated reader. I have also included some complex syntax which a younger or less educated redaree might find difficult to understand: " I believe that you Sir do not respect many people, or maybe you're acknowledgement of the pain you cause runs so thin that you do not have any idea why I am writing to you, and in such a tone as the one I carry." The use of the complex sentence used above also emphasis's the writers feelings and what is being said.

Fried Green Tomatoes at the WhistleStop Cafe :: Fannie Flag

Fried Green Tomatoes at the Whistle Stop Cafà ©, one of my finest works. Who am I? I am the author Fannie Flagg. I’ve been writing since the fifth grade, when I wrote, produced, directed and starred in a three-act comedy titled â€Å"The Whopee Girls†. It made the audience laugh, but it got me expelled because it had the word â€Å"martini† in it. I’ve always had dry wit. I then entered a Miss Alabama contest winning a scholarship to the Pittsburg Playhouse. I was the only girl who failed ballet. When I was nineteen, I began writing and producing TV specials, and since then I’ve appeared in more 500 TV shows, which include Candid Camera, The Dick van Dyke Show, The Love Boat, Love American Style, and movies like Five Easy Pieces with Jack Nicholson, Stay Hungry, Grease. I am currently finishing a few new movies such as Flying By and Shattered Glory both of which are coming out in 2009. I was in Broadway too! I was in The Best Little Whorehouse in Texas! I’ve written several books such as Standing in the Rainbow in 2002, and my newest book Can’t Wait to get to Heaven, in 2006. I now live in Montecito, California. So about my book, Fried Green Tomatoes at the Whistle Stop Cafà ©, well the theme is mainly feminism and a little bit of my gay pride, (you’ll see when you meet Idgie.). The setting starts out in the nursing home where, Mrs. Cleo Threadgoode, the long-time resident of Whistle Stop, tells Mrs. Evelyn Couch all about her life starting in the year 1929, and the little town of Whistle Stop. Now I will tell you all about the rest of my book in the eyes of my most important character, Mrs. Cleo Threadgoode. My name is Mrs. Cleo Threadgoode, and I live at Rose Terrace Nursing Home. I am 86 years old. I have just made a new friend, and her name is Mrs. Evelyn Couch. She came into the visitors lounge and I started talking right to her. I’ll tell you what I told her too. In fact I’ll even tell you the whole story. It all starts out in Whistle Stop, 1929.

Renaissance Man

Florida Institute of Technology Civilizations I – Professor Lusty December 15, 2012 Think about the qualities of a Renaissance Man. Choose a man/woman/profession from the late 20th (or early 21st) century –even someone still alive today– that you think encompasses the spirit of the Renaissance ideal, and give 2 specific areas/ aspects that connect to this ideal. Be as specific as you can. What are the qualities of a renaissance man?According to the dictionary, a incessant man is â€Å"a cultured man of the Renaissance who was knowledgeable, educated, or proficient in a wide range of fields or a present-day man who has acquired profound knowledge or proficiency in more than one field† (Dictionary. Com, 2012). Using this definition, there is one who comes to mind as a renaissance man; Patrick Byrne. Patrick Byrne, Overstock. Coma's Chief Executive Office and Chairman, â€Å"has a Bachelor of Arts degree in Chinese studies from Dartmouth College, a Master'sD egree from Cambridge University as a Marshall Scholar, and a Ph. D. In philosophy from Stanford University' (Forbes, 2012). His quest to improve the academic quality for America's children has resulted in his appointment to Co-chairman of the Friedman Foundation for Educational Choice. He has founded numerous schools internationally – 19 to be exact – and implemented programs to help fund education by directing funding directly to the teachers and in the classrooms.To date, states such as Georgia, Texas, Kansas has implemented the 65% rule, agreeing that 65% of every dollar will be used for classroom instruction. Other states such as Dakota and South Carolina are considering implementing the same program for the schools in the states. As a former professor, Byrne, accompanied several Dartmouth students to Beijing, teaching a course on the economic conditions of the country while there. Byrne has also taught several classes at Dartmouth.Barnes achievements, which also i nclude having a black belt in Tea Swan Do, increasing awareness for cancer research, being a writer and Journalist, and an investor, definitely correspond with the definition of a modern day renaissance man. References Dictionary. Com. (2012, December 14). Retrieved from Dictionary. Com: http:// dictionary. Reference. Com/browse/renaissance+man Forbes. (2012, December 14). Retrieved from Forbes. Com: http://www. Forbes. Com/profile/Patrick-Byrne-2/

Business ratios and formulas a comprehensive guide Essay

Net profit margin of the company shows how much the profit after-tax profit made by a business for every $1 generated in revenue or sales (Bragg, 2008). A higher net profit margin is better in comparison to that of its competitors. In 2011 and 2012, Tesco was more profitable followed by Morrison’s Supermarkets PLC. However, in 2013, Morrison’s Supermarkets PLC was more profitable followed by Sainsbury.Roce This financial ratio measures the profitability and efficiency of a company with which its capital is employed (Bragg, 2008). In 2011, Tesco was more profitable than Morrison’s Supermarkets PLC and Sainsbury. The following year, it was overtaken by Morrison’s Supermarkets PLC while Sainsbury remained the least profitable. In year 2013, Morrison’s Supermarkets PLC was the most profitable company followed by Sainsbury. Return on Equity – ROE             Return on equity shows how much profit a firm earned compared to the total amount of shareholder equity as contained in the balance sheet (Horrigan, 2010). In 2011, Tesco made a higher profit than Morrison’s Supermarkets PLC and Sainsbury. It was Morrison’s Supermarkets PLC . in year 2012 Morrison’s Supermarkets PLC and Sainsbury reported a higher profit compared to the previous year while Tesco reduced it profitability. However, the three companies reported lower profit in 2013 than in 2011 and 2012. Morrison’s Supermarkets PLC was more profitable followed by Sainsbury in 2013. Gross Profit Margin             It is used to assess company’s financial health by showing the proportion of money that is left over from sales revenue after deducting the cost of goods sold. It shows the financial health of a company (Jenkinson, 2011). In 2011, Tesco had the highest financial health followed by Morrison’s Supermarkets PLC. In year 2012, all the three companies reported lower gross profit margin. Morrison’s Supermarkets PLC and Sainsbury have had a stable gross profit margin.Net asset turnover This is a financial measurement intended to measure how a company turns its assets into revenue (Horrigan, 2010). In 2011, Sainsbury was the most efficient company in turning assets into revenue compared to Morrison’s Supermarkets PLC and Tesco. Tesco was performed the least in turning assets into revenue. In 2012, all the three companies had a lower net asset turnover with Sainsbury having the higher ratio followed by Morrison’s Supermarkets PLC. In 2013, Tesco and Sainsbury increased their ratio while Morrison’s Supermarkets PLC’s ratio decreased. Sainsbury still had the highest ratio followed by Morrison’s Supermarkets PLC.Efficiency and effectiveness Ratios Asset turnover ratio             This is a ratio of a firm’s sales to its assets. It is an efficiency ratio that shows how successfully a company uses its assets to generate revenue. A comparison of asset turnover ratio for the three companies shows that in 2011 Sainsbury was the most efficient company followed by Tesco in turning assets into revenue. In 2012, Tesco showed a decrease in efficiency which the other two companies increased they’re efficient. All the three companies increased their efficiency in using assets to generate sales with Morrison’s Supermarkets PLC having the highest ratio followed by Sainsbury (Jenkinson, 2011). The debtor’s day’s ratio             It is a measure of how quickly cash is collected from debtors. Different periods are compared for the same company since it is less meaningful since results largely depend on the nature of the business. Tesco is the most efficient company in collecting cash. Morrison’s Supermarkets PLC and Sainsbury have also been decreasing the number of days with Tesco having a lower collection period (Novak, 2009). Supplier credit days This shows the number of days that a company takes to pay its suppliers (Novack, 2009). In 2011 and 2012, the numbers of days for Morrison’s Supermarkets PLC and Sainsbury has been increasing which can be a sign of financial hardship or increase confidence of suppliers on the company. Tesco has a high ratio which could be a sign of a financial crisis. Stock holding period             It refers to the period between the purchase of a product and its sale. There is a general decrease in the stock holding period for the three companies indicating an improvement in investment performance. Sainsbury have the highest holding period followed by Morrison’s Supermarkets PLC (Palmer, 2013). Liquidity and capital ratiosQuick Ratio             This determines if the company has resources to pay its short term liabilities with its liquid assets. The analysis shows that Morrison’s Supermarkets PLC has the highest ability to pay its short-term debt followed by Sainsbury (Peles, 2008). Quick ratio             It measures how a company can use its near cash or quick assets to retire its current liabilities immediately. Analysis shows that Morrison’s Supermarkets PLC has the highest ability to convert its near cash items into cash in order to pay the debt followed by Sainsbury.Gearing ratiosDebt/equity ratio It shows how a company finances its growth. Sainsbury has the highest debt in its capital structure compared to Tesco and Morrison. Tesco has the least debt ratio (Peles, 2008). Times interest covered             This ratio is a measure of number of times a business can make the interest payments with its earnings on its debt before interest and taxes. Morrison has the lowest possibility of bankruptcy followed by Sainsbury. Capital gearing ratio             It measures financial strength of a company. Tesco is a high risky investment to investors. In 2013, Morrison was second after Tesco in terms of riskiness. Investors expect a high return in the future in Sainsbury compared to Morrison and in Tesco. Dividend yield             It shows how much a company pays out the shareholders in divided relative to share price. Sainsbury have the highest dividend yield showing that investors get a lot of funds for investing in Sainsbury. When share price increases, shares with high dividend yield earn more cash. Investors who need cash prefer investing in shares that have high dividend yield. Dividend cover             This shows the number of times dividends of a company paid to shareholders can be paid out of annual profits after tax. It is an indication of the probability which shows that dividends can be maintained in the future. In 2013, Morrison had the highest divide cover followed by Sainsbury (Shimerda, 2011).Corporate strategy Morrison’s Supermarkets PLC can increase its profitability by using Tesco as a benchmark for its operations. This is because Tesco has a higher net profit margin and Return on capital employed. Morrison’s Supermarkets PLC has not been effectively in efficiently utilizing their assets in generating more revenue. It should ensure that acquisitions are attractive and that they help the company increase its return. It should also ensure that they produce better products and services in order to combat competition. Some assets should also be sold. Morrisons Supermarkets PLC should also reduce the amount of debt from their capital structure. This is because it ranks second after Tesco in terms of capital gearing ratio. Debtor’s collection period should be reduced to a minimum. References Bragg, S. M. (2008). Business ratios and formulas a comprehensive guide. Hoboken, N.J.: Wiley. Horrigan, J. O. (2010). Financial ratio analysis: an historical perspective. New York: Arno Press. Jenkinson, N. H. (2011). Investment, profitability and the valuation ratio. London: Economics Division, Bank of England. Novack, D. E. (2009). Liquidity Ratios And Recent British Monetary Experience. The Journal of Finance, 13(4), 510-526. Palmer, J. E. (2013). Financial ratio analysis. New York, N.Y.: American Institute of Certified Public Accountants. Peles, Y. C., & Schneller, M. I. (2008). Liquidity Ratios and Industry Averages-New Evidence. Abacus, 15(1), 13-22. Schmidgall, R. S., & Defranco, A. L. (2009). Ratio Analysis: Financial Benchmarks for the Club Industry. The Journal of Hospitality Financial Management , 12(1), 1-14. Shimerda, T. A. (2011). Financial ratios as predictors of profitability. Ann Arbor, Mich.: University Microfilms International. Source document

Research Critique of Benefits of Systematic Phonics Instruction

The purpose of this study or major research question â€Å"was to find if children taught with systematic phonics programs outperformed children in nonsystematic phonics or non phonics programs. † (Graaff, Bosman, Hasselman, &Verhoeven, 2009) The authors do list a major research question, but the problem statement was not as clear as it could have been. The reader has to read in depth of the entire article to really bring conclusion to what is being researched. It is not very defined with clarity, but you are able to figure out what is being researched and tested. The problem is significant and relevant because the researchers are looking at two approaches using a control group of children enrolling them in five types of programs: Basal reading programs, regular curriculum, whole language, whole word, and miscellaneous programs. In whole language approaches, it is believed that children will learn language (oral and written) best if it is learned for authentic purposes (Stahl, 1999). The author states the computer-based experiment permitted us to compare the differences and effectiveness of a systematic and a nonsystematic phonics approach, because in both programs the same 10 grapheme-phoneme correspondences were taught. Hypothesis The authors open their article with, â€Å"systematic phonics instruction appears to be more effective than non systematic instruction for teaching reading. † (Graaff, Bosman, Hasselman, &Verhoeven, 2009) In the present study, a systematic phonics approach was directly compared with a non-systematic phonics approach for kindergarten children. Feature Article  Country School  Allen Curnow The authors clearly state what they feel will happen in their research but do not go into much detail other than one or two reviews from other authors of why they support the research in the pre testing of it the way that they do. The author explains on the measures of phonemic awareness, spelling, and reading, the systematic phonics group made more progress than the nonsystematic phonics group and the control group. Results The results of the test in the productive letter sound test at pretest were . 13. The performance showed to be no difference between the two training conditions in this section. The free sound isolation test at pretest was 0. The performance on the free sound- isolation test of children in both the unsystematic phonics training and in the control condition was found to have no difference. The measurement of the Reading Test found no difference between the phonics training and the same measure and outcome was found with the spelling test. The results of the testing procedures were hard to read and understand. The process used by Intra Class Correlation was the measurement used at the pretest. It never discusses the ICC during the posttest. Whether the ICC was used it never refers to it after the pretest discussion.

Ethical behaviour of UK supermarket Tesco Essay

Introduction I carried out a research on UK supermarkets’ social responsibilities and business ethics, I decided I will use Tesco plc for this assignment. The reason being Tesco has a wide range of policies regarding their supplier, customers, shareholders and the community. â€Å"At Tesco, we aim to make a positive contribution to society. Our CSR programme builds on this commitment and is backed by our ‘Every Little Helps’ approach.† John Gardiner, chairman, Tesco Tesco adopted both the agency theory and the stakeholder theory and it has the intelligent self-interest (Mullins 2002). Tesco uses a combination approach of deontology, utilitarianism, teleology and egoism (Boddy 2002) to the ethical of the society. An ethical assessment will consider the position of the staff, the nature and interrelationship of activities, product and service ranges, mixes and balances, relationships with the community and the environment. Stakeholders of Tesco Stakeholder is defined by Mullins (2002:145) as â€Å"individuals or groups who have an interest in and/or are affected by the goals, operations or activities of the organisation or the behaviour of its members†. Stakeholders can be categorised into three main groups: Internal stakeholders * Employees – Social responsibilities to employees beyond the employment contracts. Employees need to face the implications such as job security, safe working conditions, fair treatment, the creation of rewarding work and personal development. Employees require equal opportunities, promotions, trade union, training and job satisfaction. * Management – Management concerns about the growth of the organisation and to achieve the organisational objectives. Management have strong influences on staff, lead by example and management by walking about can encourage its staff to produce their best performance. External stakeholders * Community & environment – The demands for the community and environment are: potential of pollution, noise and disposal waste should be kept to the minimum, raw materials are used economically and environment friendly production. * Society – Society is the broader place in which business operates. The quality of all our lives will depend on how well the organisation balances its profit and the environment. Connected stakeholders * Shareholder – There are three types of shareholders: short term investors, long term investors and ethical investors. Short term investors simply concentrate on the performance of the organisation, they will have no time for considerations of social responsibilities. Long term investors may be willing to consider evidence that managing in a socially responsible way helps long term profits. Ethical investors place social priorities higher than maximising their own personal wealth and are willing to invest in organisations that follow clear socially responsible policies. * Customers – Customers expect organisations to provide them with goods and services. They want the goods/service to be good quality, durable, good value for money, safety and performance. Consideration of Power All stakeholder groups have influence throughout the organisation. These influences effect the organisational performance and their existence within its market sector. * Employees – They can reflect their thoughts through the trade union, i.e. request pay raise, better working conditions, equal opportunities etc. If the employees are mistreated they can take industrial actions against the organisation or have an industrial strike to force the organisation to meet their needs. * Community & environment – If there is a potential of pollution, noise, disposal waste or the local county council can apply laws and regulations to limit those actions or to take legal actions against the organisation. * Society – If the quality of our life is affected by the organisation, campaigners can hold daily protests outside the organisation, this will attract bad publicity for the organisation. * Shareholders – They can simply withdrawn their investment from the organisation, i.e. selling their shares. Alternatively shareholders can attend the annual meeting and vote against the organisational suggestions. * Customers – They can simply stop consuming the goods or services from the organisation. I considered the customers have the main power over an organisation, without any customers the organisation simply cannot survive. Any organisation needs to take its stakeholders’ interests into account. A good balance of the decisions is vitally important, we can see how the influences have impact upon the organisation and any unbalance decision will affect the existence of the organisation. Tesco’s Mission Statement â€Å"Creating value for customers, to earn their lifetime loyalty† We can see from the above statement that Tesco concentrates on the long-term relationship with its customers. Tesco focused on providing exceptional value and choice for customers to ensure that they continue to grow market share. Tesco had expended significantly in the past 10 years, it started in non-food retailing in 1997 and now Tesco is creating value on a wide range of products from grocery to financial services such as personal loan, home and motor insurance and credit card services. From these evidences we can see Tesco is working very hard to follow its mission statement to achieve its goal. Tesco’s actions towards the society Tesco combined the agency theory and the stakeholder theory (Mullins 2002) when they make any ethical decisions. Milton Friedman’s view (Mullins 2002:148) suggested the agency theory is that â€Å"†¦the social responsibility of business is to make as much money as possible for the shareholders, within the rules of the game.† Mullins (2002:149) defined the stakeholder theory is that â€Å"†¦a business is for its stakeholders and its actions should be designed to balance stakeholder interest.† Tesco uses the agency theory to decide its main objective, it is to provide excellent goods and services to earn their customers’ loyalty. This will ensure their existence on the market and to maximise the shareholders’ investment. On the other hand, Tesco uses the stakeholder theory to act on behalf on its stakeholders interests, such as contribution towards the society, care for the environment and responsible to the supplier chain. Tesco also uses a combination approach of deontology, utilitarianism, teleology and egoism (Boddy 2002) to the ethical of the society. Deontology Approach â€Å"Deontology is based on the idea that we are morally obliged to follow fundamental rules of thumb or principles. (Frankena 1963)† Fulop & Linstead (1999:339) Part of the Tesco strategy of â€Å"Treat people how we like to be treated† uses the deontology approach to the ethics of the people, the policies are as follow: * All retailers, there’s one team†¦The Tesco Team * Trust and respect each other * Strive to do our very best * Give support to each other and praise more than criticise * Ask more than tell and share knowledge so that it can be used * Enjoy work, celebrate success and learn from experience Tesco acts only on those principles so that they are not only â€Å"Treat people how we like to be treated†, but also wish others to do the same. Utilitarianism Approach â€Å"Utilitarianism judges the moral worth of actions by the utility of their foreseeable consequences for each and every person affected by a certain set of actions.† Fulop & Linstead (1999:339) Tesco aims to be responsible in their commercial and trading activities. Tesco is a member of the Ethical Trade Initiative since it was founded in 1998, on top of that, it also supports the work of Fairtrade Foundation. They sell and promote Fairtrade production such as tea, coffee, banana and chocolate. Fairtrade Foundation was set to give better deal for third world producers, regardless of the world market conditions. There are several reasons why Tesco uses the utilitarianism approach to the ethics of the society. First it wants to build a strong relationship with its supplier and to maintain their reputation within the market sector. From the result of having strong relationship with its suppliers, they will have a stable supply for its goods and services. Teleology Approach â€Å"It considers whether the outcome of an action accomplishes the original goal.† Boddy (2002:133) Tesco uses the teleology approach to consider whether the outcomes achieve the original goals. Boddy (2002) suggested that if an act ensures the continuation of the organisation then it is right. From Tesco’s mission statement we can see that the original goal for Tesco is to keep its market share and continue to grow within its market sector by creating value for its customers. It is obvious that Tesco is performance very well in its industry, they keep expanding their services and products (from grocery to financial services), which indicates the continue growth for Tesco. Egoism Approach â€Å"This is the ‘ethics of self-interest, claiming that personal or corporate benefit is the only rational criterion for judging economic actions.† Boddy (2002:133) Tesco is a financial contributor to the Fund for the Replacement of Animals in Medical Experimentation (FRAME), and they are seeking ways to end animal testing. Tesco also carries out the Computers for Schools vouchers, which support local school to improve their computer equipments, to create a better learning environment for children. Tesco is a national sponsor of Cancer Research UK’s Race for Life, this is only part of the charity works that Tesco has, there is also a Tesco Charity Trust which helps local and national charities as well as voluntary organisations to provide practical support for children, the elderly, and people with disabilities. Tesco uses this approach to take above actions to contribute towards the local community. Boddy (2002) suggested that if people follow this principle it will result in general good. Because of the contribution Tesco made (Computers for Schools vouchers and charity’s activities), customers are more happy to shop in Tesco because they are able to maximise their personal self-interest towards the society. Improvement in ethical behaviour of Tesco Tesco has a wide range of ethical policies to cover different areas, they include the following: * Human right * Local community sponsorship * Charity * Ethical trading * Fairtrade * Animal Testing * Environment These are only a small selection of Tesco’s policies which I can find on its website, there are many more policies to cover different area of the ethical aspect. Since we are in a dynamic business world and there is no set policy can cover all changes, Tesco should expand its policies and to improve and maintain its reputation. Conclusion Survival or long-term performance is the main ethical duty of the organisation, its staff, customers, community and other stakeholders. For this to happen, a long-term view must be taken. Organisation must distinguish between right and wrong. It is necessary for the organisation to recognise the nature and legitimacy of the interests of the different stakeholder groups and interested parties, and to take steps to see that these are widely understood and satisfied as far as possible.    Bibliography Boddy D, (2002), 2nd Edition, Management – An Introduction, Pearson Education Ltd, Harlow Fulop L & Linstead S, (1999), Management – A Critical Text, Macmillan Press Ltd, Hampshire Hannagan T, (1995), Management Concepts & Practices, Pitman Publishing, London Megginson L, Mosley & Pietri P Jr, (1986), 2nd Edition, Management: Concepts and Applications, Harper & Row Publishers Inc, New York Mullins L, (2002), 6th Edition, Management & Organisational Behaviour, Pearson Education Ltd, Harlow Pettinger R, (2002), 3rd Edition, Introduction to Management, Palgrave, Hampshire Robbins S & Coulter M, (2003), 7th Edition, Management, Pearson Education Inc, New Jersey Internet Resources: http://www.tesco.com/corporateinfo/ 14/03/2004 http://www.tesco.com/everylittlehelps/ 14/03/2004 Reference Boddy D, (2002), 2nd Edition, Management – An Introduction, Pearson Education Ltd, Harlow Fulop L & Linstead S, (1999), Management – A Critical Text, Macmillan Press Ltd, Hampshire Mullins L, (2002), 6th Edition, Management & Organisational Behaviour, Pearson Education Ltd, Harlow Internet Resources: http://www.tesco.com/corporateinfo/ 14/03/2004 http://www.tesco.com/everylittlehelps/ 14/03/2004

A Summary Of Utilitarianism Philosophy Essay

A Summary Of Utilitarianism Philosophy Essay Utilitarianism, also known as the â€Å"English common sense philosophy† dominated the Western world during most of the nineteenth century. Utilitarianism is a normative ethical theory that places the seed of right and wrong solely on the outcomes (consequences) of choosing one action/policy over other actions/policies, hence also sometimes referred to as â€Å"the Consequentialism†. The history of this theory dates back to its true pioneer Jeremy Bentham ( 1748-1832) who gave rise to a new concept in hedonism: The Social Hedonism which was quite different from the Hedonistic doctrines of Aristipppus and Epicurus who are considered to be the fathers of Hedonistic school of thought. Bentham ; the common-sense British thinker is largely held responsible for the shift from † egoistic (individualistic) hedonism to the Universalistic( social ) hedonism. He declared in his book † Introduction to the Principles and morals and Legislation† that all mankind is ruled by two basic masters; namely PAIN and PLEASURE and that all human race is busy in the so-called rat-race of the pursuit of pleasure and the disapproval of pain.He also asserts that good can be equated with pleasure and evil with pain. Here comes in the big question that† How should pleasures be graded as far as preference is concerned?† Whether one should go for ‘short-term and intense’ pleasures or ‘ long-term and mild pleasure’ take precedence over the former. He therefore came up with a detailed outline of principles regarding the preferences of pleasures in his â€Å"Hedonic Calculus†. According to Bentham’s calculus, he emphasized the significance of seven â€Å"circumstances† in order to determine the value of any action, hence presented a criteria for the preference of pleasures influenced by following major factors: Intensity: of the pleasure or pain that results Duration: of either of the two Certainity: The confirmation that pleasant event will be occurring. Promptness : The nearness of the pleasant event. Fecundity: Its ability to reproduce( lead to) more pleasure. Purity: freedom from either present or future. Extent: characterized by the number of people affected by the action John Stuart Mill(1806-1873) adjusted the more hedonistic tendencies in Bentham’s philosophy by emphasizing that it is not infact the quantity of pleasure, but the quality of happiness that is central to utilitarianism. He further argued that pleasure couldn’t be quantified as stated by Bentham and can only be measured in terms of quality only. Mill advocates his rationality of ideas in the following famous words: â€Å"It is better to be a human being dissatisfied than a pig satisfied; better Socrates disstatisfied than a fool satisfied† The implification of this advancement by Mill lead to a belief that the calculus is unreasonable — (there is a distinction between ‘higherâ⠂¬â„¢ and ‘lower’ pleasures). According to Mill, utilitarianism now refers to â€Å"the Greatest Happiness Principle† – GHP. it seeks to promote the capability of achieving happiness (higher pleasures) for the maximum number of people. The Maxim holds as such: † Greatest happiness for the greater number† Act and Rule Utilitarianism The principle of utility can either either be applied to PARTICULAR ACTIONS or GENERAL RULES. The former is called â€Å"act-utilitarianism† and the latter is called â€Å"rule-utilitarianism.†

Belief in People and Team Essay Example | Topics and Well Written Essays - 750 words - 1

Belief in People and Team - Essay Example As a leader, one realizes that one has to focus on that common interest to make sure that the organization functioned effectively. As Dr. Bennis has pointed out in his writings, it is essential that the leader create a sense of mission (ASAE Foundation, 2004). That is exactly what one did to keep the organization to a good start. The group started out by defining the mission and vision statements. One had to make sure that everyone in the organization believed in the objectives that were set. One knew that as the leader of the group, one has to rally them towards the attainment of the goals. The next step was to engage and motivate the members (ASAE Foundation, 2004). The problem that one faced is how to motivate each one of them. One realized that to be able to motivate them it is essential that one gets acquainted with each individual and uncover what drives them into action. One has to recognize the strengths and weaknesses of each member to be able to assign them to jobs which wi ll put their talents and skills to their best use. This is a point which Dr. Bennis emphasized in his book, that is, a leader should determine the highest potential of each member (1994). One did this by letting each member fill out a questionnaire where they were asked their qualifications, interests, talents and hobbies. After going through the form, one got an idea which person may be appointed to do a certain duty. As a leader, one got to know his members better and identified the things that motivate them. Another unforgettable experience that one had about leading the organization was when one had to introduce changes in the previous system established by the past president. The past president required that each member report directly to him about the donations that were gathered for the projects of the group. One believed that the organization would function better if they were divided into groups which were

Working without Trade Unions Essay Example | Topics and Well Written Essays - 1500 words

Working without Trade Unions - Essay Example Trade unionism has been in existence in the UK for more than 200 years, as illegal associations at first but gained legal recognition later (Trade Unions 1980). In 1978, statistics revealed that membership with numerous trade unions total to around 13 million workers (Trade Unions 1980). Unions existing at present serve the interests of particular type of workers or industry (Theses on the Trade n.d.). Through the unions, the workers can bargain with the employers to grant them increases in wages or salaries, specific working hours, benefits, or day-off from work. Negative Impact of Trade Union Unionism was primarily established to protect the interests of the workers. However, it has also been used by workers to blackmail employers. Running a company would entail a lot of factors to consider and has to maintain a certain margin of profit in order to survive the competition. Workers and employees though would want to get more from their employers by using various legal modes to get m ore benefits. Thus, at a slight movement in the economy or inflation, they would lay down their demands to the companies. There is a collective bargaining agreement or CBA that governs the relationship of employers and workers. The CBA is a contract of labour between the company and the workers. It exists at a certain period of time after which, it has to be renegotiated by both parties. At such renegotiation, the workers present their new demands which the employer may or may not concede. At the renewal of the CBA contract, the workers would push hard so that their demands will be granted by the employer. Companies that operate well and earn more profits may grant the economic demands of the workers. However, with the erratic economic conditions resulting from the recent global slump that affected banking and financial institutions, as well as several industries, CBA renegotiation or too much demand from the workers can tilt the operations of companies. Radical or extreme unionism that tends to disrupt company operations is bad for the economy and the company. It also fosters unhealthy employee-employer relationship that breeds distrust on the part of both parties. According to Naylor and Santoni (2003, cited in Radulescu & Robson 2006), there would be lesser foreign investments in a country where the bargaining power of trade unions on the aspect of wage is strong. There are studies though that do not support this position. Cooke (1997, cited in Radulescu & Robson 2006) and Cooke and Noble (1998, cited in Radulescu & Robson 2006) said that multinational firms in the US tend to invest in countries with decentralised wage bargaining process, and veer away from strong trade unionism. The Workplace Employee Relations Survey revealed that from 1990 to 1998, companies with unions undergo more closures than plants without unions (Millward, Forth & Bryson, 2001). Generally, companies without unions boomed at an average of 1.4 percent per year within the same period (Millward, Forth & Bryson, 2001). In contrast, firms with unions had been shrinking at an average of 1.8 percent yearly (Millward, Forth & Bryson, 2001). Addison and Belfield (2002) said that the prevailing trend seen in unionised companies is its slowed effect upon employment growth. UKs 1998 Workplace Employee Relations Panel Survey (WER-PS), lasting for eight years, that contained around 50 percent of the 1990 Workplace Industrial Relations Survey (original companies surveyed totals 2,016) revealed that firms that have labour unions existing for a very long time have weak labour productivity (Addison & Belfield 2002). On the

What did the War of 1812, in terms of the international community, Essay

What did the War of 1812, in terms of the international community, achieve for the United States of America - Essay Example John B. Hoey writes, â€Å"The War of 1812 has†¦.. finally won a gallant victory that validated national institutions and presaged the growth and expansion of the young Republic.†(Hoey) Congress declared war and it was thrust upon a nation that was unprepared. Though U.S. forces were numerically superior as compared to the enemy, it was not in a position to win convincingly. Economically weak nation opted for negotiated peace to end the stalemate. American defense establishment failed and their calculations went haywire. The other consequences of war were the confirmation of the border between Canada and United States and it brought to an end the plans of America to annex Canada. With the termination of British support to the Indian tribes the prospect of Indian Confederacy ended. War revolutionized manufacturing in a big way and U.S. won the respect of the international

Compare and contrast the relationships which evolved between Essay

Compare and contrast the relationships which evolved between technology subjectivity and space of concentration camsp factory Manhatten project cinema and the - Essay Example e to this led to one of the most violent expressions of individuality recorded in human history as Nazi Germany exalted the Aryan and vilified the Jew. The response to this violence, assisted through the use of yet further technology such as cinema and the exhibition to educate and influence the cultural mind, led the way to the current trend of increasing subjectivity within the Metropolis. Thus, there are numerous complex relationships apparent between the advances in technology to the degree of subjectivity inherent in a particular society as shown through the space of the factory, the concentration camps, the Manhattan Project, the exhibition and the cinema. One of the most important features of capitalism in industries was the capacity to impose a work discipline with uniform and regular patterns while eliminating the possibility of self-organizing (Thompson, 1967). Within the factories, many artisans were brought under the same roof and, more importantly, expected to work within the mills, a radically different production technique from that used previously within the cottage industries. â€Å"The nineteenth century demanded the functional specialization of man and his work; this specialization makes one individual incomparable to another †¦, this specialization makes each man the more directly dependent upon the supplementary activities of all others† (Simmel, 1903). The factory eliminates the need for the individual even while it works to separate the individual into appropriate work classifications for greatest effect, making each worker depend upon the work of another to function. Yet, this â€Å"colossal centralizati on, this agglomeration of three and a half million people on a single spot has multiplied the strength of these three and a half million inhabitants a hundredfold† (Engels, 1987) creating a need to institute some sort of control. Therefore, bringing all these people together also made surveillance possible at the least as a means of

Godfather I by Francis Ford Coppola Essay Example | Topics and Well Written Essays - 1250 words

Godfather I by Francis Ford Coppola - Essay Example In the opening scene where a person is asking for justice, not from the law but from a compatriot, sets the tenor of the film. ‘Why did you go to the police? Why didn’t you come to me first?’(Vito Corleone) subtly illustrates the disillusions of an immigrant about the law and justice of the country and how he is forced to adopt other ‘means’ to get the same. Godfather is a film which revolves around an Italian-American family which operates a crime syndicate in New York in mid-forties. Vito Corleone, the patriarchal head of one of the five ’family’ involved in the crime syndicate, is the protagonist of the film. He often works beyond the realm of law because he has powerful contacts in the political arena and the judiciary. Despite exerting awesome influence and muscle power, he has a very strong sense of justice and commands great respect from people who do not hesitate to ask for his help when the law fails to do so! He becomes their ‘protector’ when the need arises so he is better known as ‘the godfather’. The only return for his good deed is their loyalty which he gets. His portrayal of a deeply religious family man reinforces people’s trust in him. His firm belief that family can alleviate a lot of pain and anguish is amply illustrated when he admonishes his godson Johnny Fontane, a sin ger, in his study as he says ‘..cause a man who doesn’t spend time with his family can never be a real man’. Indeed â€Å".The Godfather puts forward a positive picture of a family†¦Ã¢â‚¬  (Glenn Man in genre and ideology) The introduction of the youngest son Michael during the wedding reception heralds amalgamation of American values and Italian culture. The educated younger son, who has just returned from the war, comes with his girlfriend. His statement that ‘my father made him an offer he couldn’t refuse’ went on to become one the most famous one-liner in the history of Hollywood films.

Economic Modelling Essay Example | Topics and Well Written Essays - 2500 words

Economic Modelling - Essay Example Moreover, most employed individuals may opt do drop out of employment in the event they perceive employment benefits to be more viable than their income (Lalive, Vanours & Zweimà ¼ller, 2011). As a result, it is essential to verify the validity of these perceptions based on evidence from empirical data. The United Kingdom has over the years between 2004 and 2014 been experiencing a consistent rate of unemployment (Statista, 2014). As a result, it is evident that there are significant factors that have contributed to the level of the unemployment during the period. On the other hand, one of the consistent trends that have been witnessed in the United Kingdom labour market during the period is the allocation of unemployment benefits by the United Kingdom government (Office for National statistics, 2014). As a result, there are major possibilities that there is a correlation between the allocations of unemployment benefits in the United Kingdom and the rate of unemployment. The study is based on empirical data gathered from the United Kingdom’s labour market. In order to verify the effect of unemployment benefits on unemployment information regarding unemployment and unemployment data was gathered for a ten year period ranging between 2004 and 2014. Thus, in order to evaluate the reliability unemployment and unemployment another set of data that correlates with unemployment will be used. Hence, the relevant alternative set of data for the study will be based on inflation data for the relevant period of the study. This is due to the fact that most of the major unemployment levels in any labour market are caused by requirement of market forces to sustain optimum levels of inflation (Arnold, 2010 pp. 382). Whereas the rate of inflation will be necessary for this study it will be essential in outlining any other potential indicators of increase in the levels of employment in United Kingdom. Therefore, the study will be aimed