Steven Cranes Role in the Literary Revolution and an...

If it takes a revolutionary to topple the general way of thinking, Stephen Crane is that revolutionary for American literature. The dominant literary movement before Crane’s time, Romanticism, originated in Germany and England as a response to classicism and soon dispersed worldwide. (McKay 766). Romanticism stressed the power of the human conscience and the intensity of emotion. It was essentially a spiritual movement, fiercely conflicting with the rigid rules and standards of classicism and the restraint of the Enlightenment. The belief that all humans embodied a unique greatness was widespread. Further along in history, however, came a man who sought to destroy this confident idea from his despondent circumstances. Disenchanted by the†¦show more content†¦Crane’s literary skills were also influenced from a very early age; his brother was a newspaper columnist who lived with him at home during his youth (Szumski 14). Similarly, his parents were â€Å"educate d and civic minded, used to making persuasive speeches, admirers and cultivators of the spoken word† (Szumski 14). Even while being raised in an environment with such high moral expectations, Crane soon displayed signs of independence. He dropped out of Methodist boarding school to attend a military academy, where he developed an interest for â€Å"poker and baseball,† according to colleague Harvey Wickham (Szumski 14). Following a life path deviating more and more from his family’s traditionalist beliefs of faith and purity, it is clear that through these factors Crane would hone his literary skills to combat traditional norms. Crane’s decision to write a story in a context (the Civil War) with which he had no experience showed that this stemmed from his desire to dissect the philosophy of individualism in a setting where no societal influences exist. The fact that he also does not mention the meaning of the war and its battles demonstrates his desire to â€Å"make an ‘Everyman’ of Henry: he is any young man of any era facing a trial by fire in any battle† (Johnson 25). The groundbreaking theories of Charles Darwin, an English naturalist of his time, influenced Crane’s attack on individualism. Darwinism’s implications questioned orthodox religious

Edmond Burke Vs Rousseau - 1090 Words

Rousseau vs Burke Jean Jacques Rousseau and Edmond Burke may appear to fall on opposite extremes of political ideology. Credited with having inspired the French Revolution, Rousseau is seen a proponent of liberalism. Denouncing the French revolution on the other hand Burke is seen a strong advocate of conservatism. As far removed from one another as these political ideologies may be, in some key areas, some of the fundamental elements constituting the building blocks of of Rousseau and Burke’s individual political thoughts are to a certain degree comparable. Highlighted in this paper, is their understanding of the freedom and liberty of man. In the Discourse on Inequality, Rousseau states that in-order to understand man and the†¦show more content†¦Man experiences the same impulsion but recognizes that he is free to comply or resist (Rousseau, 33).† Like Rousseau, Burke too believes in freedom liberty of man in the broad sense of the word (Burke, 3). Liberty and freedom are important, but not enough to be allowed to completely upset the natural order. Burke sees man as being born constrained by the and traditions of his ancestors. These traditions include the institutions by which man is governed. Burke attributes the further development and flourishing of society to the maintenance of the natural order and the respect and upholding of these traditions. (Placeholder1) Rousseau too acknowledges that deviation from the laws of nature can be detrimental to man. He points out that though freewill places man at an advantage over other species, and perhaps even other men, but he does not necessarily see it as being all good: â€Å"Man, often deviates from such laws to his own detriment. A pigeon will die of hunger next to dish filled with choice meats and a cat next to a heap of fruit or grain. Thus, desolate men give themselves over to excesses that bring fevers and death, because the mind perverts the senses and the will continues to speak when nature is silent (Rousseau, 33)† With reference to emerging from the state of nature and entering into society, Rousseau highlights that free-will brings with it reason. As reason develops, man becomes more industrious and begins to adapt toShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages6 (2005), pp. 1185–1203; and S. E. Scullen, M. K. Mount, and T. A. Judge, â€Å"Evidence of the Construct Validity of Developmental Ratings of Managerial Performance,† Journal of Applied Psychology 88, no. 1 (2003), pp. 50–66. 9. F. Luthans, â€Å"Successful vs. Effective Real Managers,† Academy of Management Executive (May 1988), pp. 127–132; and F. Luthans, R. M. Hodgetts, and S. A. Rosenkrantz, Real Managers (Cambridge, MA: Ballinger, 1988). See also F. Shipper and J. Davy, â€Å"A Model and Investigation of

Computer addiction research paper free essay sample

Crane is a school teacher and singing master of the neighborhood In the village In which he lives. 3. What accounts for his popularity among the housewives and the village girls? + The schoolmaster was considered igh in authority next to the parson; so, females were naturally drawn to his understanding of modern ways. He also taught voice lessons to many of the women in the area, but he was mostly desired because he played into the womens fascination with superstition and the supernatural. HIS hobbles also helped him to be accepted by the women. His book, written by Cotton Mathers, was a resource he could draw upon to entertain the womenfolk with new and interesting spooky stories. And since Irving describes the hollow as a place enchanted with superstition, Crane it right in. 4. What are his favorite pastimes? -9 Ichabod Crane likes riding horses and reading. 5. Who is being described in the legend? How did the author describe him? List down the descriptive words and phrases that describe him. We will write a custom essay sample on Computer addiction research paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page -+ Ichabod Crane, the character Is described the way the author chose In order to carry the story line forward to the desired conclusion. -+ He was, in fact, an odd mixture of small shrewdness and simple credulity. His appetite for the marvelous, and his powers of igesting it, were equally extraordinary; and both had been increased by his residence in this spell-bound region. -9 He was tall, but exceedingly lanky, with narrow shoulders, long arms and legs, hands that dangled a mile out of his sleeves, feet that might have served for shovels, and his whole frame most loosely hung together. His head was small, and flat at top, with huge ears, large, green, glassy eyes, and a long snipe nose, so that looked like a weathercock perched upon his spindle neck to tell which way the wind blew. ton

Influence of Technology in Visual Art free essay sample

How does technology influence visual art? And how does photography influence the development of painting? This essay considers the impact of technology on the visual art and how this technology accelerated the development of the art and how people respond, adapt and incorporate modern technology into their own work. The impact of technology in visual arts has been in photography. Willian Melin stated that, â€Å"the dominant forces during the past century has been modern technology and has affected virtually every aspect of modern life social, political, economic and cultural† (Melin p. 3). Photography has influenced many painters and has admitted its impact on their work. Their art was greatly affected by this new medium. The effect of this technology was not only to alter the world of painting and the role of the painter but also to use it as a new method or tool to develop their work. Some Artists uses photographs as the basis of their painting or as a reference or guideli nes. We will write a custom essay sample on Influence of Technology in Visual Art or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One of the photograph’s first benefits to the painter was its possible use as a sketch. The photograph could capture exactly a face, a pose, a scene and even actions of different motion. The earliest work by photographers Eadward Muybridge and Etienne-Jules Marey influenced among many painters such as Edgar Degas, Giacomo Balla and Marcel Duchamp. â€Å"When in the late 1870’s, Muybridge’s snapshots of the animal locomotion, specially the studies of horse’s different gaits, came to be known in France and the United States† (de Duve p. 114). Eadweard Muybridge was known for his early use of multiple cameras to study motion. Muybridges photographic motion study shows by separating motion into a series of stills. Each subject shows us series of motion as parts in the subject. These cameras capture the image, introducing a single moment from all possible movements of the subject in motion. Taken as a whole, he presents us with an idea of the motion; when projected rapidly on a screen in proper sequence creating rapid consecutive intervals of number of images following one after the other, the motion becomes clear. â€Å"With this demonstration at a meeting of the San Francisco Art Association on May 4, 1880, moving pictures were born† (Newhall p. 336). Muybridges motion studies are considered to be a vital step in the development of photography to motion pictures as we know them today.

Library rules and regulations no one told you about

Library rules and regulations no one told you about There are some unspoken rules each student should stick to while in a public or campus library. They might forget to talk to you about them in your sisterhood or brotherhood, but don’t worry. After all, I’m here to help you. See the recommendations below to make sure you fit in student life from the first day you’re in college. Distract others Have noisy snacks Oh, yes! Choose the most crunchy and crispy food you can find in a supermarket. Have some savory kettle chips, nachos, or perfectly baked dry biscuits. If you prefer more healthy alternatives, opt for hard apples and carrots. Don’t even look at bananas, yogurts, and peanut-butter sandwiches. These are for soft-hearted wimps who care about others. Choose savory, authentic meals The fact that you’ve come from another country gives you all the rights to extend your culture and introduce your mates to the high cuisine of your homeland. Get some Korean kimchi or Thai ammonia eggs as your library snack, gorge yourself with lovely Sweden surstrà ¶mming, Russian herring under a fur coat, or any kind of noble French cheese. Ask your family to send you some durian if you want to be noticed by everyone on your campus. Use strong perfumes only It is such a pity so many students nowadays forget about the distracting and annoying power of classy perfumes. Choose ones with the highest concentration of musk, so everybody around you will notice who is the sexiest tiger/tigress. Grrrau! Listen to your favorite music with bad headphones We both know your taste in music is way too perfect to be hidden from others by proper headphones or a reasonable sound volume. Whatever is in your playlist: k-pop, heavy metal of the 80s, or fancy nu-jazz, let people around you explore it. Put that volume to the max! Have long chats on the phone â€Å"So what did she say? And what did he say? Oh, God, what happened next, did she hit him?† or â€Å"No, you turn off the phone. Who’s my little teddy bear? Who’s your nice kitty? No, I love you more!† or â€Å"You know what, I’m sick of you! You’re a stupid momma’s boy!†More drama! People need to know more about your personal life, as engaging in social media is not enough for a true extrovert like you! Chat with your friend all the time Whisper or speak in a loud voice, giggle, or discuss someone’s personality. Pubs are too noisy for private conversations, and you have to do it somewhere, don’t you? This is the true purpose of libraries. Make any kind of other disturbing noise Snap your pen, tap out some melody with your feet or hands, cough, crack the bones in your fingers or shoulders, scratch yourself, drop things, and don’t forget to fart. Manifest your presence in any way your body is capable of. Don’t mute your phone True tough guys and chicks never mute their phones. What if your mom calls and you don’t hear the ring? How are you going to explain your drama to her? Plus, how would everyone check out your new ringtone if your phone is mute? Think only about yourself Go to the library with a cold and a running nose What can be better than shufflings and snifflings in your ear while you’re trying to get ready for your virology class? Don’t bother to go to the bathroom to blow your nose. Let everyone in the hall enjoy the perfect symphony your pipes can produce. Try to blow off the Imperial March so that no one has a doubt about who is the funniest pal in the course. Leave your stuff everywhere Dogs and cats are clever little devils and we have a lot to learn from them. Like how to mark territory. Put your pen and notebook in one place, your scarf and bag in another, and your piles of books somewhere else. Don’t forget to leave empty cups of coffee and packets from your snacks on the tables. You’re a creative person and want to embrace chaos. Why can’t other people just deal with it?! Get all books at once during the rush hour Don’t worry, it’s just you and the entire course who decided to write an essay the night before it has to be turned in. No one needs these books and journals that are gathering dust on your table for more than 3 hours already, while you’re trying to complete a level in PvsZ. Don’t bother about others. This is a cruel world, and these kids need to learn this lesson. Put books where they don’t belong The bookshelf where the journal you’ve been using belongs to is miles away. And you’ve already walked your 10,000 steps for today. That’s okay- just squeeze the journal in somewhere and forget about it immediately. Steal books You can both put them in your bag when no one notices, or take them from a librarian and forget to turn them in. Choose wisely. Write in books and tear the pages out Be that half-blood prince for some random Harry. Write on pages about your brilliant discoveries. This is how scientific knowledge is passed from generation to generation in the modern world. Tear out the pages that contain inappropriate information. You don’t want it to be seen by some weirdos, do you? Do whatever you want Drink alcohol, make noisy kisses, smoke, and do whatever you wish! Just make sure nobody is distracted by you. And stay in disguise by pouring liquor into the coffee cup, and having all that interaction stuff in the blind zones with no cameras or people around. Otherwise, your mischief can lead to a fine, to expulsion, or to the everlasting shame of your family.

Dynastic Mayan Rulers of Palenque

Dynastic Mayan Rulers of Palenque Palenque is a Maya civilization site located in the state of Chiapas, in Mexico. Occupied between about CE 200-800, Palenques heyday was under Pakal the Great [ruled CE 615-683], one of the most powerful kings of central America in Late Classic times. The rulers of Palenque were called the Holy Lord of Toktahn or Holy Lord of Baakal, and among the king list are several legendary leaders, including Snake Spine and Cha Ruler I. Snake Spine, if he was a real person, lived when the Olmec civilization ruled, and traded extensively into much of what is today considered the Maya region. The very first named ruler of Palenque is GI, the First Father, said to have been born 3122 BCE, and the Ancestral Goddess said to have been born 3121 BCE. The dynastic rulers of Palenque begin with Bahlum-Kuk or Kuk Balahm, the Quetzal Jaguar, who took the throne of Palenque in 431 CE. U-Kix-Chan (Snake Spine or O Pop) 967 BCECha Ruler I (Caspar) 252 BCEKuk Bahlam (Quetzal Jaguar) CE 431-435Cha Ruler (II) (Caspar II) 435-487Butzaj Sak Chihk (Manik) 487-501Ahkal Mo Nahb I (Lord Chaac or Chaacal I) 501-529Kan Joy Chitam (Kan Xul I), 529-565Ahkal Mo Nahb II (chaacal II, Akul Ah Nab II) 565-570Kan Bahlam (Chan Bahlum I, Kan-Balam I) 572-583Ix Yohl Iknal (Lady Kan, Lady Kanal Ikal) 583-604Ajen Yohl Mat (Aahc-Kan, Ac-Kan, Ah Kan) 605-612Janab Pakal (Pacal I) 612-612Muwaan Mat (Lady Beastie) 612-615Kinich Janab Pakal (Lord Shield, Pacal, Pakal) 615-683Kinich Kan Bahlam (Snake jaguar, Chan Bahlum), 684-702Kinich Kan Joy Chitam (Lord Hok, Kan Xul, Kan Xul II), 702-722Kinich Ahkal Mo Nahb (Chaacal III, Ah Kul Ah Nab III), 722-?Upakal Kinich Janab Pakal ?-?Kinich Kan Bahlam II ?-?Kinich Kuk Bahlam (Lord Kuk, Bahlum Kuk) 764-? Source: Robinson, Merle Green. 2002. Palenque (Chiapas, Mexico). pp 572-577 in Archaeology of Ancient Mexico and Central America: An Encyclopedia, Susan Toby Evans and David L. Webster, eds. Garland Publishing, Inc. New York. Stuart, David and George Stuart. 2008. Palenque: Eternal City of the Maya. Thames and Hudson.

The Supply Chain of Cocaine Essay Example | Topics and Well Written Essays - 2000 words

The Supply Chain of Cocaine - Essay Example In due course of time, the use of Cocaine evolved as a stimulant drug being used by various un-prescribed and unauthorized purposes resulting in many social and medical problems. The supply chain through which Cocaine is delivered all around the global as well as national markets comprises of manufacturers, distributors, retailers and customers. But due to the inclusion of traffickers that consequently increased legal barriers, the supply chain of the industry emerged to be complex and too challenging to be managed effectively (Karch, S. B., â€Å"A Brief History of Cocaine: From Inca Monarchs to Cali Cartels: 500 Years of Cocaine Dealing â€Å"). This paper will focus on providing with a comprehensive and elaborated description of the Cocaine industry in relation to its supply chain system. With this concern, the discussion of the paper will focus on the participants engaged in the supply chain of the industry along with the factors that tend to have a significant impact on the entire system. In addition, the current trends in the supply and demand for Cocaine will also be discussed in this paper. The cocaine industry operates fundamentally in export-oriented markets, i.e. cocaine is principally produced for the purpose of export in other countries. The industry came into being after the invention of cocaine in the 1980s which was followed by huge demands in the pharmaceutical and chemical industry as well as in the stimulant drug market apart from heroine. The supply chain executed in the industry from the traditional period has been quite complex, cost consuming as well as time consuming majorly due to the lengthy process o f travelling engaged with the distribution of the product. For instance, the coca leaves are cultivated in one location, i.e. the remote regions of a nation and are processed into coca base in other locations which are basically the urban and rural areas. These processing areas are also used for its storage. Similarly, until and unless the cocaine is received by the end customer, it travels through many places for storage and also for transportation (Castells, M., â€Å"End of Millennium†). One of the major differences between the structure of supply chain in the cocaine industry and that of the other industries can be observed as the inclusion of the financial experts in the trade dealings of this industry. These financial experts are engaged for handling the generated money from wholesale transactions of cocaine and are responsible for banking, handling drug profits and its laundering. Financers engaged with this industry, generally assure that a profit earned, is reinvested in the cocaine industry (Iron Crown Enterprises Staff, â⠂¬Å"An Eye for an Eye†). Although the major activities of the industry are handled by traffickers but the finances, the profits and the investments are tackled by the agents (Castells, M., â€Å"End of Millennium†). Cocaine industry involves high risk in its supply chain management. These can be illustrated as the market risks, business risks and operational risks. Market risks are caused due to the fluctuations in the ‘supply and demand’ flow of the industry. Due to the enforcement of strict legal measures in the manufacturing nations, the supply of cocaine has often been witnessed to fall without any prior information. Moreover, as an

Omnipresence of Water Research Paper Example | Topics and Well Written Essays - 500 words

Omnipresence of Water - Research Paper Example Water is the medium for chemical reactions in the body (Barney Harris, Jr. and H. H. VanHorn). Water is the only pure substance found naturally in all the three states of matter i.e., gaseous state, liquid state and solid state. The density of water changes with temperature, as the temperature of water, is lowered it becomes dense and at 4C it reaches maximum density, on further cooling the volume of water expands by about 9% to become less dense and form ice. Thus the ice floats on water and doesn't sink..(Explanation of the Anomalies of Water (1-10) - Shrinks on melting) If water were solid when denser in an artificial scenario, then the ice wouldn't float and sink to the bottom consequently the oxygen content in the water at the bottom would increase (Since at lower temperatures the oxygen content is increased) then the metabolic activity of microorganisms near surface would increase because of increased temperatures but face oxygen deficiency (Since at higher temperatures the oxygen content is decreased). Oxygen depletion is also due to a buildup of organic materials from human activity, thus causing oxygen deficiency to the fish, invertebrate, plant and aerobic bacteria. Oxygen levels below 3 parts per million would mean a grave situation for all these aquatic organisms and an aquatic ecosystem imbalance. (Exploring Environment Water Quality- Dissolved Oxygen) If the water was denser then all the oceans, water bodies, lakes and drinking water sources would be frozen or solidified and only a few inches would melt in summer. The oceans frozen portions would essentially be salt-free.( Water (molecule) – from Wikipedia, the free encyclopedia)

National Security Council Essay Example for Free

National Security Council Essay The recent trend characterizing the US security policy is the gradual strengthening of the National Security Council. Under G. Bush administration this body gained significant power and influence. In this paper I’m going to investigate the reasons for this trend as well its advantages and disadvantages. In the international practice, National Security Council is generally defined as an executive body coordinating national security issues. National Security Council consists of the heads of departments involved in diplomacy and defense with a relatively small number of staff members. The US National Security Council was established in 1947 and substantially amended in 1949; the same year it was placed in the Executive Office of the President. The powers and influence of the US NSC has been gradually increasing during the second half of the 20th centuries; this trend is evident presently, too. As for the structure of the council, it is chaired by the President and encompasses Vice President, the Secretary of State, the Secretary of the Treasury, the Assistant to the President for National Security Affairs, the Secretary of Defense, the Chairman of the Joint Chiefs of Staff as the statutory military advisor to the Council, the Director of Central Intelligence as the intelligence advisor. The Chief of Staff to the President, Counsel to the President, and the Assistant to the President for Economic Policy have a right to be present at any meeting of the Council; others can be invited to attend NSC meeting if appropriate. The functions of the NSC are â€Å"considering national security and foreign policy matters with his senior national security advisors and cabinet officials. † (National Security Council official website, http://www. whitehouse. gov/nsc/) Every President made major or minor change in the powers and functions of the NSC in order to adjust it to his own management style. The ultimate goal of the NSC under Bush administration is to ensure collegiality among different departments coordinating military and diplomatic issues. But the functions of the NSC nowadays are much wider. The expert report that â€Å"the NSC today conducts ongoing relations with the media, Congress, the American public, and foreign governments. † (Daalder Destler, 2000, A New NSC for a New Administration, http://www. brookings. edu/comm/policybriefs/pb68. htm) Even the official sources define the Council as â€Å"as a means of controlling and managing competing departments† and it’s functioning â€Å"depended in no small degree upon the interpersonal chemistry between the President and his principal advisers and department heads. † (Office of the Historian, Bureau of Public Affairs, History of the National Security Council, http://www. fas. org/irp/offdocs/NSChistory. htm) The NSC is refered to as the â€Å"key foreign policy player in every administration since John F. Kennedys. † (Daalder Destler†¦) I strongly deem that the trend of NSC becoming more influential reflects the general trend of Presidential power becoming more authoritative. The fact that Condoleeza Rice rivals Colin Powell in influence is to a certain extent causes to the relations between Condoleeza Rice and the President. Another reason is that she had been an influential public figure in academic and political circles before joining the NSC. Karl Inderfurth and Loch Johnson (2004, p. 180) in their book Fateful Decisions: Inside the National Security Council states that â€Å"Rice perhaps most closely resembles McGeorge Bundy, of the Kennedy Administration, who was the first non-invisible national-security adviser†¦Ã¢â‚¬  George Bush in the first National Security Presidential Directive stated that â€Å"The NSC shall meet at my direction. † (National Security Presidential Directive, 2001, http://www. fas.org/irp/offdocs/nspd/nspd-1. htm) The positive side of it is that the President can quickly obtain a qualified advice when needed. The negative side is that the NSC is an easy tool for controlling and redefining diplomatic and military policy of the county without consulting other major defense bodies. The same Directive states: â€Å"Except for those established by statute, other existing NSC interagency groups, ad hoc bodies, and executive committees are also abolished as of March 1, 2001, unless they are specifically reestablished as subordinate working groups within the new NSC system as of that date. † George Bush adjusted the Council to his own needs approximately after a year in the office. This is one more important reason why the President relies more on the NSC than on traditional bureaucracy. The structure of the NSC is relatively transparent and clear; it includes a limited number of members, although it has grown in size recently and resembles a governmental agency rather than an advisory committee. I would like to elaborate on another factor that contributes to the situation with the NSC. After the tragic events of 9/11 George Bush established the Office of Homeland Security under the governance of Tom Ridge, the President’s close friend. The functions of the NSC and the OHS often overlap; the possibility of the NSC becoming hegemonic in the sphere of homeland security decreased. Still, its role in the national security is hard to overestimate. Daalder Destler (2000) propose a clear list of reasons why the NSC evolved in the key agent in defence and foreign policy. They state that it was caused by â€Å"the half-century development and legitimization of the NSC as presidential coordinator for mainstream national security issues†¦[and]†¦the post-cold war expansion of the foreign policy agenda, with more issues that require coordination across more agencies†¦[and]†¦the deepening of partisanship in Washington, particularly over the last decade. † It’s hard to give a solely positive or negative evaluation of this trend. From one angle, the NSC is flexible and is able to react rapidly to any security threat. It may seem rational to grant excessive powers to the NSC. There would be no need to employ the bureaucratic machine of numerous agencies dealing with diplomacy, military aspects and homeland security. The NSC should be organized in such a way so that â€Å"the president can make clear foreign policy choices in a timely manner. † (Daalder Destler ) Daalder Destler study emphasises that the NSC major task is integrating the US foreign and defence policy, and it’s of high importance in the era of global terrorism. From another angle, the NSC is powered by the President, and there exists much space for manipulation. Recently, the NSC doesn’t manage efficiently with coordinating the national security bodies. For instance, some tension exists in relations between the NSC and the agencies like CIA. Now let me proceed with drawing the final conclusion of the paper. There exists a clear trend of the National Security Council becoming more influential and powerful under the George Bush administration; this happens for compelling reasons. The positive or negative evaluation of his trend largely depends on the degree of efficiency of the NSC organization and functioning. References 1. The White House, National Security Council http://www. whitehouse. gov/nsc/ Last accessed: 15 Oct 2004 2. Office of the Historian, Bureau of Public Affairs, United States Department of State, History of the National Security Council, 1947-1997 http://www. fas. org/irp/offdocs/NSChistory. htm Last accessed: 15 Oct 2004 3.National Security Presidential Directive, February 13, 2001 http://www. fas. org/irp/offdocs/nspd/nspd-1. htm Last accessed: 15 Oct 2004 4. The Brookings Institution, Foreign Policy Studies, Daalder, I. H. , Destler, I. M. , A New NSC for a New Administration, Nov 2000 http://www. brookings. edu/comm/policybriefs/pb68. htm Last accessed: 15 Oct 2004 5. Inderfurth, K. F. , Johnson, L. K. 2004. Fateful Decisions: Inside the National Security Council. Oxford University Press.

Free Essays on Terrorism: Europes Contempt Toward the U.S :: Exploratory Essays Research Papers

September 11 and Europe's Contempt Toward the U.S Lest we forget the heroic resolve of our many European "allies," the French surged forward into the fray last week. Well, perhaps "surging" isn't quite the word, and the "fray" has become a meager affair as of late. Their token gesture to join the U.S. and Great Britain in orchestrating a Northern Alliance victory amounts to little more than tactical cowardice, a dashing display of minced words and foot-dragging that only the French seem capable of. However symbolic the gesture, the French and their European counterparts tend to deliver such offerings of goodwill sealed with the usual stamp of anti-Americanism. The irritating Euro-superiority complex recently surfaced over the issue of extraditing captured terrorists to the United States. In September, Spanish authorities infiltrated the Soldiers of Allah, a radical Islamic group based in Madrid with links to al Qaeda. The operation led to 14 arrests of key al Qaeda operatives and shed new light on the financing of bin Laden's operations preceding the September 11 attacks. Hundreds of millions of pesetas (i.e. millions of dollars) flowed through this unit of al Qaeda's financial network. Despite this damning evidence, Spain still sniffs at the thought of extraditing the detainees to the U.S. And what is the source of Spain's moral indigestion? The "backward" American justice system, of course. After all, the U.S. still employs such barbaric anachronisms as the death penalty (and even worse, a solid majority of Americans seem to support it). As evidenced by the continual stalling of Spanish diplomats, the moral burden of any extradition to a country as primitive as the United States is simply too much for the collective Spanish conscience to bear. The fate of al Qaeda operatives must not be abandoned to the crude methods of American jurisprudence. Instead of rejecting such anti-Americanism, the 15 members of the European Union echoed Spain's sentiments in their sanctimonious reports to the press. The Bush administration's establishment of military tribunals further inflamed the E.U.'s righteous indignation. Several countries kindly reminded the U.S. that sending the al Qaeda henchmen across the pond would violate the EU's extradition ban against countries that use the death penalty. This was consistent with what seems to be the E.U.'s role of the meddling whiner, seizing some disputable moral high ground to voice complaints instead of solutions. Perhaps the most annoying aspect of most European indignation is its paternalistic tone, as if the Americans were still reckless colonies in need of a scolding.

Small capital in Philippines Essay

This chapter consists of brief summary of articles, findings of the study that are related to the present study. It contains foreign and local literature, foreign and local studies. Local Literature According to Mishell M. Malabaguio of entrepreneur magazine Philippines, Small capital, easy set-up and a good chance of success are just some of the reason why Food Cart Business is thriving in the Philippines. If you will look at the market trend today, Food cart business is the choice of most aspiring entrepreneurs. A mobile food cart is a business where you can start on low capital ranging from P30,000 to a maximum of P300,000. But it could be a little lower though, depending on how you will put it up — by franchise or on your own. Some companies offer food cart franchise for as low as P10,000 per package that includes, the cart, product, uniform for the crew and training. Over the last few years, food service carts have sprouted all over the metro — from MRT and LRT station, malls, sidewalks, church, schools, markets etc. – name it and for sure, you’ll find a food cart there. Today, there are about 800 different food cart formats available in the market–pizza, waffle, fishball, siomai, rice toppings, and baked goodies, rice in a box, hotdog and a lot more.Industry estimates that more than P1 billion in sales are turned over every year from the food cart businesses. With this amount, no doubt that Food Cart is the hot business in the market. If you have a nice cart, then the next thing to consider is Location. Location plays a big part in the success of your food cart or in any business for that matter. You have to think of a good location where a person frequents and can see what you are selling. But not all places cramming with people is a good venue just like MRT and LRT station. Lastly, you have to match your good locati on with the right product at a good price.

Joseph Pulitzer

Joseph Pulitzer Joseph Pulitzer was born April 10, 1847 he died October 29, 1911 Joseph was from Mako, Hungary he immigrated to the U. S. in 1864 then he moved to St. Louis . After Joseph’s father died his business went bankrupt and his family became pour. When he was seventeen years old he attempted to join the Austrian army, the British Army, and the Napoleon's Foreign Legion but had gotten denied because of his bad eyesight and poor health. Pulitzer came to serve in the American Civil War in the Lincoln Calvary from 1864-1865.Then he worked his way up to St. Louis, Missouri he only went there because of the German population, since he spoke perfect German and French but had a hard time with English. Joseph Pulitzer was really energetic, wild about seeking fame he was brilliant and independent. Since Joseph was really rich he was able to go to private schools and be tutored by private tutors. While Joseph was in chess he caught attention of the editor of a local German langu age newspaper after they had a conversation Pulitzer then ended up having a journalism job for the Westliche Post.Four years later he had been a hard working reporter with the owners that were having a problems with not selling a lot of newspapers he was also offered a big interest. In the newspaper which he sold about 30, 00 dollars profit and gave the owners there profit. Before he was a journalist he worked as a Mule tender, waiter, and hack driver and for several lawyers. Later in that year he became the owner of a newspaper at St. Louis Post-Dispatch he gained a big success under his leadership but also he earned himself a fortune in the years later.Pulitzer increased the subscription of the world by a rate of 15,000 to over 600,000 making it the largest newspaper read in the country. Pultizer was nominated for the state legislature by the Republicans in 1969, and won. Now he was an American Citizen, a speaker, writer, and editor and mastered English extremely well. Yellow Jour nalism – came from a popular New York World comic calls â€Å"Hogan‘s Alley† which featured a yellow-dressed character. Some dramatic event happened during the 1890s United States went war with Spain led by the newspaper owners William Randolph Hearst and Joseph Pulitzer.They used romance and hyperbole to sell millions of newspapers as they say called yellow journalism. This battle went from 1895 to about 1898 Joseph went crazy on making the New York World newspaper he made it filled with pictures, games and contests and new readers got interested but most of all crime stories were filled with many pages since he was trying to get a lot of readers he only sold the newspapers for two cents ,but he sometimes gave the readers eight to twelve pages of information.In 1872 Joseph created his first newspaper he had made a profit of about 3 million dollars. In 1883 when Joseph was thirty six years old and won over New York World newspaper and was qualified the principles that led to success also with his St. Louis paper. By 1898 was selling 15 million copies a day Pulitzer created the modern newspaper he caught the democrat's eye. Pulitzer changed the way Americans saw the newspaper he created a certain way that other newspapers didn’t . Pulitzer paid his reporters high salaries but expected and demanded hard work from them.He used illustrations and cartoons to attract the readers he began to start including a lot of drawings for the children a lot of pages that give color and something for the kids to look at it he called it â€Å"Sunday Funnies†. Pulitzer was the master of detailing stories about crime, sex, and disaster. He always had his reporters using bold headlines, illustrious and diagrams for the murder scenes Pulitzer was one of those people that a successful newspaper had to entertain as well telling the truth and listing the facts.Joseph had gotten married in 1878 to Katie Davis at the Protestant Episcopal Church. Joseph a nd Katie have seven kids Joseph was a difficult husband and living with him was hard because he had emotional problems. He was knows as a distant parent never was a really good father and wasn’t there for his children. Joseph spent most of his time away from his family traveling a lot of places then he lived close to his yacht called the Liberty. Pulitzer had a lot of medical issues with him like asthma, diabetes, insomnia, chronic exhaustion, and manic depression.In 1889 he had become blind then October 29, 1911 at age 64 Joseph Pulitzer died because of a heart attack while he was aboard on his yacht in New York Harbor. My opinion about Joseph Pulitzer is a really hard worker and he tried hard in life to be successful never really toke brakes. He was really obsessed with his work didn’t really know a lot about how to be a father or husband he had a lot of problems but never tried to fix them because he cared about the money.He did so much to get to where he is today n ever really cared about family didn’t have anybody else but family. He wasn’t close to people nor did he have a lot of friends but where he was before and now really successful and brilliant the best journalist that has ever lived with the work he did amazingly creative. He knew how to get people’s attention in a way other newspapers didn’t seeing everything from America’s point of view Pulitzer had a marvelous talent nothing let him give up or quite.After Pulitzer was getting old and tired his focus was on creating a journalism school give some money to build it, in 1912 Columbia University accepted its first class in the school of Journalism but also the money he gave 2million dollars that was given was used for annual prizes to journalist and writers. The first one was given in 1917 but Pulitzer being dead he couldn’t see how the university he created was helpful and successful. The Pulitzer Prize is given every year to honor achievements in journalism, literature, and music Pulitzer also gave traveling scholarships.

Sociograms Essay Example

Sociograms Essay Example Sociograms Paper Sociograms Paper Isograms! What is it? Cardiogram is a visual representation of the relationships among characters in a literary text, which allows you to visualize the relationships and conflicts between and among the storys characters. You will make use of pictures, symbols, shapes, colors, words (quo test) and line styles to illustrate these relationships. Follow the GU nines below carefully to construct your Cardiogram be sure to read through the entire process first so you have a good idea of what you are doing. Remember, these are your deadlines you have room for adaptation and creativity here. Arrange the characters on your Cardiogram according to any criteria you like: p rower? Intimacy? Affection? Likeability? Let the physical distance between characters reflect the perceived psychology cal distance between characters. Let the size of the shape representing a character vary with (a) the important e, or (b) the power of the character. ; Show the direction of a relationship by an arrow/ line, and its nature by a brief label (the lines an be creatively applied: What might the following types of lines indicate? A j aged line? A wavy line? The thickness of the line? Etc. ) Represent substantiated relationships by a solid line and inferred relationship s by a broken line. Circle active characters with a solid line. Circle significantly absent characters with a broken line. ; REQUIRED : Create a note for each character.

The Definition of Hydrometer

The Definition of Hydrometer A hydrometer or hydroscope is a device that measures the relative densities of two liquids. They are typically calibrated to measure the specific gravity of a liquid. In addition to specific gravity, other scales may be used, such as API gravity for petroleum, Plato scale for brewing, Baume scale for chemistry, and Brix scale for wineries and fruit juices. The invention of the instrument is credited to Hypatia of Alexandria in the latter part of the 4th century or early 5th century. Hydrometer Composition and Use There are several different types of hydrometers, but the most common version is a closed glass tube with a weighted bulb at one end and a scale going up the side. Mercury used to be used to weight the bulb, but newer versions may use lead shot instead, which is much less hazardous in case the instrument breaks. A sample of liquid to be tested is poured into a sufficiently tall container. The hydrometer is lowered into the liquid until it floats and the point where the liquid touches the scale on the stem is noted. Hydrometers are calibrated for various uses, so they tend to be specific for the application (e.g., measuring fat content of milk or proof of alcoholic spirits). How a Hydrometer Works Hydrometers function based on Archimedes principle or the principle of flotation, which states a solid suspended in a fluid will be buoyed up by a force equal to that of the weight of the fluid that is displaced. So, a hydrometer sinks further into a liquid of low density than into one of high density. Examples of Uses Saltwater aquarium enthusiasts use hydrometers to monitor the salinity or salt content of their aquariums. While the glass instrument may be used, plastic devices are safer alternatives. The plastic hydrometer is filled with aquarium water, causing a tethered float to rise according to salinity. Specific gravity can be read on the scale. Saccharometer - A saccharometer is a type of hydrometer used to measure the concentration of sugar in a solution. This instrument is of particular use to brewers and winemakers. Urinometer - A urinometer is a medical hydrometer used to indicate patient hydration by measuring the specific gravity of urine. Alcoholmeter - Also known as a proof hydrometer or Tralles hydrometer, this device simply measures liquid density but isnt used to directly measure proof of alcohol, since dissolved sugars also affect the reading. In order estimate alcoholic content, measurements are taken both before and after fermentation. The calculation is made after subtracting the initial reading from the final reading. Antifreeze Tester - This simple device is used to determine the ratio of antifreeze to water used for engine cooling. The desired value depends on the season of use, hence the term winterizing when its important the coolant doesnt freeze.

Response to Progressive Reforms Essay Example | Topics and Well Written Essays - 500 words

Response to Progressive Reforms - Essay Example The writer of rough draft 2 is of the opinion that progressive reformers did restrain the power of American capitalism. According to the writer, the progressive reformers were successful in their quest by demanding better-working conditions, regulating the economy, and fighting for women rights. The writer’s draft captures the socio-economic part of the reform movement but does not expound on the political aspects that the reformers sought to improve. As such, this draft would be improved by noting that progressive reformers had an impact on American politics by changing the policies and principles that the nation was founded on.   Progressive reformers had an impact on domestic policies as they advocated for the protection of the poor and workers from capitalists tendencies through anti-trust laws. Also, progressive reformers called for redistribution of resources and government regulation of commerce and production. Mooney also notes that progressives advocated for governm ent regulation in the employment of women (60).   The government instituted reforms that enabled poor Americans benefit from the available resources and also regulated aspects regarding commerce and production.   As such, the basis of today’s liberalism that permeates in American politics has its roots from progressivism, showing that indeed progressive reformers affected the political sphere as much as the socio-economic aspects.   The quote to apply and best answer the question as the writer intended would be that the reforms.

Foodmaster case Study Example | Topics and Well Written Essays - 3000 words

Foodmaster - Case Study Example The case study tries to analyze the issues faced by the company at the first instance. The company had experienced high growth in bossiness until 2007, when its sales has fallen from 60$ million to 48 million. Due to fall in sales, the profit of the company was also found to fall from 25$ million (2006) to 18 $ million (2007). The context of the case study will analyze the issues faced by the company after implicitly detailing about its internal and external business environment. In the latter half, the case study will enumerate some strategies and fallacies of marketing with the help of which the company would be able to overcome the challenges of its business and prosper amidst all competition in the long run. The Foodmaster Company was founded by a group of young businessmen in 1995. The company engages in providing dairy products and is based from Kazakhstan. Its founders critically analyzed that until 1995, diary product availability was limited in the country and products like yogurt was just not domestically produced in its market. In a country where dairy farming was traditionally and widely practiced, such scarcity of diary product production only signified that the segment was not exploited for commercial purpose. Hence, the inception of the company with dairy business was primarily undertaken to tap the unexploited dairy market in its domestic economy for the first instance. The company’s diary factor shop in the town of Issyk was the first yogurt producing factory of the country. Overtime, the company has significantly expanded its scale and scope of business operations. At present it owns 2 dairy farms, 4 factories and 16 retailing branches. It has now owned the prestig e of being the biggest dairy product producing company in Kazakhstan. The company produces a wide range of diversified dairy products to meet the requirements local demands of its domestic markets. Since 2004, the company has started to

Portfolio risk management Assignment Example | Topics and Well Written Essays - 2250 words

Portfolio risk management - Assignment Example In this relation the overall comparison of the risk and return from the different investment alternatives that comprise of real estate investment and portfolio without real estate investment and correlating the same with the current weighing of investment certain result has been derived. In this relation, making the portfolio of investment through 10% investment in real estate along with 41% in SCS and 49% in LTGB is regarded to be highly efficient investment alternative or portfolio, as the relative return of such portfolio is 2.61 and risk is 4.50. Moreover, the overall analysis reveals the fact that different portfolio provides different risk and return scenario but investing the RE with relative weighting of 0.10 in RE, 0.41 in SCS and 0.49 in LTGB will provide relative lower amount of risk and higher return over the similar risk category. This is why the particular portfolio has been mentioned. Portfolio is an important concept of financial management, which refers to the combination of various investment tools including stocks, bonds, shares, mutual funds, and cash that varies based on the income, budget and period of the investor (Reilly & Brown, 2011). Additionally, the art of selection of appropriate investment approach in terms of minimal amount of risk along with maximum return is regarded as the approach of portfolio management. Moreover, the key importance of portfolio management is to derive superior investment plan for the investors. Furthermore, managing the entire budget of investor based on the different alternative will enable them to minimize the risk in comparison to investing the fund in single investment proposal and increase the likelihood of profitability. In relation to the portfolio theory, it has been assumed that investor is risk adverse and they like to select the investment proposal from the given set of investments with equal rate of return havin g minimal amount of risk. The ability to combine and form the investment based on

Agri-Tourism Operations Management

Agri-Tourism Operations Management Introduction Agri-tourism is increasing in popularity, and is sought by many farmers as an alternative source of on-farm income. It is a popular concept among the European farmers for nearly a century [Busby Rendle 2000]. Defined as a tourist or recreation enterprise on a fully working farm, agri-tourism can include plenty of attractions, activities, accommodation, amenities etc. Two primary reasons are cited for the recent increase in agri-tourism development. The first reason is linked to a growing interest amongst tourists for on-farm experiences. The second primary reason for increasing agri-tourism development is the state of farming in modern society. Changes in farming practices make it increasingly difficult for farmers to support themselves solely through farming. It is for the latter reasons that Blackberry Hill Farm was developed as a tourist centre. However, the farm has been unable to cope with its overwhelming popularity, which has created a few complexities in the management of ev eryday operations. The overall objective of this report is to recommend changes to improve the day-to-day operations of Blackberry Hill Farm. Capacity Constraints Jim and Mandy Walker define very specific personal, family and business goals for Blackberry Hill Farm. Their goals are tied to a set of values concerning family, environment and community that have grown through time. Their challenge is to develop a whole farm strategy that, over a course of five, ten years or more, would live up to their values and goals, by taking advantage of their current business strengths and perceived market opportunities. While there are numerous potential advantages for Jim and Mandy in becoming involved in agri-tourism, the business is not without its potential risks and associated costs. From the case study, some of the frequently mentioned challenges relate to: Incurring unforeseen or prohibitive developmental and marketing costs Placing unforeseen and excessive demand on farm and community services and activities Providing only seasonal employment opportunities Creating unforeseen environmental and social impacts Given these concerns, it is imperative that Jim and Mandy take a proactive role in planning and managing the development of the farm. Short Term Operations Issues The pick-your-own operation initiated at the Blackberry Hill Farm has been a reasonable success primarily due to many operations related reasons. First, Jim and Mandy are relieved of the burden of finding and paying temporary seasonal labour at harvest time. Second, it overcomes the farmers distaste for direct sales and provides them with opportunities to think like customers. However, the popularity of such an operation will necessitate Jim and Mandy to rethink about plenty of operational issues such as creating adequate parking space, having restrooms and a safe entertainment area for children. Children are best kept away from the picking area as they contribute disproportionately to damaged crops. Attention to these basics will help build repeat sales for the Blackberry Hill Farm. Furthermore, pick-your-own operations are primarily meant to target families who do not have the space to grow their own seasonal vegetables. The mix of vegetables and fruits will depend on customersâ₠¬â„¢ tastes, which can be identified by the customers’ frequent visits to the farm. This also gives ample scope for the Walkers to introduce home delivery of their favoured hand picked fruit and vegetable for a nominal fee. Medium Term Planning and Control Another critical component of operations strategy involves the plan for filling resource gaps. Making changes in the existing resource may mean making better use of under utilized resources. For example, Tractor rides are extremely popular with the visitors, though the overall capacity in comparison with the number of visitors during peak times is extremely low. Since, the Walkers are reluctant to invest in expanding capacity of the tractor rides, it is recommended that they introduce guided and themed walks within the farm during peak times as this will slightly reduce queuing for the tractor rides. Furthermore, average length of stay in the preserving kitchen should be reduced to off-peak time. To counter this, the Walkers could introduce short films on the preserving kitchen in a dedicated screening area away from the kitchen. The same principle could be employed to the bakery to reduce the bottle necks. Furthermore, the case study illustrates there are parking problems during peak periods with complains from the local Police. To counter this, Blackberry Hill Farm should attempt to capitalize on the advantage of creating productive partnerships with local transport services to provide transport facilities to and from the farm to the nearest train and bus station during peak periods. This will not only encourage the visitors to use public transport, but will also ensure that there are reduced parking problems in the farm. Long Term Strategic Issues Porter (1996) argues that strategy is a set of activities in which an organization will excel to create a sustainable competitive advantage in the marketplace. This competitive advantage can be to deliver greater value to customers than competitors or to provide comparable value at lower prices. Nevertheless, organizational strategies have to be continuously monitored to reflect the changes in the business environment and to weave these changes within the organizational competencies. As Porter (1996) rightly concedes, operational effectiveness and organizational strategy are equally essential for superior performance. A company can outperform the rivals if it can establish a difference that it can preserve and these differences are derived from various activities initiated by the organization in the process of manufacturing, marketing and selling. Furthermore, operational effectiveness is performing the same activities better than the rivals. The idea of developing a maize maze is a profitable option for long term planning and control and will help the farm with necessary revenue to further consolidate the farm’s activities. It will also help in developing Mandy’s idea of building up their business through organized school visits. To avoid occasional queues and to divert attention from other crowded attractions such as tractor rides and fixed exhibits within the farm, it is recommended that the maze is built a short distance away from the popular attractions such as fixed exhibits, petting zoo, pick-your-area, bakery, preserving kitchen etc. The maze in itself should keep the customers entertained for about two hours for a fee. Good crowd control, separate restroom facilities, refreshments and farm products to sell, will divert the queues away from crowding. Outdoor activities during summer months will make the customers thirsty. Ready-to-eat food and a selection of beverages that fits the farm’s theme will form an interesting part of the farm’s experience. Although, the case study illustrates that the farm has a bakery, cafà © and a preserving kitchen selling food products, small handcarts selling homemade ice-creams, people dressed in traditional farmers clothes selling fruits and sandwiches from farmers baskets, barbeque etc at vantage points within the farm will spread the visitors evenly, thereby reducing queues. Furthermore, improvements in inventory and storage management will help benefit the farm as a way to mitigate seasonal price and product declines. Since the farm shop at Blackberry Hill Farm is very profitable, investment in low-cost storage systems will help in preserving the produce and prolonging the marketing season. This will also help in retaining more permanent staff, rather than employing seasonal employees. Conclusion The development of agri-tourism in the recent years has increasingly created recreational and educational alternatives for citizens to have fun, to improve their quality of life and to satisfy the need of social interactions. In turn, the focus of traditional farm management is on operational effectiveness. Innovative strategies for agri-tourism business management need to be considered to maintain and create successful businesses. Understanding visitor needs and offering unique services and products to meet those needs are critical to the success of all businesses. In addition, careful study of who the visitors are and where they are coming from, as well as existing competitors, are essential. References Busby, G., Rendle, S. (2000). The Transition from tourism on farms to farm tourism. Tourism Management. 21. 635 – 642. Porter, M.E (1996). What is strategy? Harvard Business Review. Nov/Dec. 74 (6). pp.61 – 78.

Kudler Fine Foods Case Study :: Kudler Fine Foods Case Study Analysis

Kudler Fine Foods is an organization that wants to evolve and mature as a company and implement practices that illustrate their growth as a company. One particular practice that Kudler Foods wants to implement is reaching out and contracting to local farmers to gain access to organic foods for sell within all three branches of Kudler Foods (UOP,2008). By implementing such a new system changes will have to be made primarily within the company’s operations management. This paper will discuss the needed changes and alterations that need to occur in order to maintain their efficiency as a company. In addition to the operations management changes, supply chain, quality control tools and performance standards will also be accessed in regards to how they are impacted by the introduction of the sale of organic foods. Operations management is the process an organization uses to obtain the materials or ideas for the product that it provides, the process of transforming them into a prod uct, and the process of providing the final product to a user (Gomez-Meija & Balkin, 2002). Under operations management there are 3 stages that consists of the process that a company typically accesses or follows through with. They include: acquiring inputs, controlling the conversion process, and delivering the output (Gomez-Meija & Balkin, 2002). In the eyes of Kudler Foods, acquiring inputs would be receiving organic foods from local farmers and growers. Acquiring product for Kudler Foods is typically done by purchasing from distribution centers and warehouses. Each of the managers will individually place an order with suppliers using a standard purchase order form based on their department’s needs or wants (UOP, 2008). In terms of price, there is not a standard price for items. Department Managers are just instructed to find the best possible price leaving disparities in costs between each store. With the implementation of organic foods, Kudler Foods should consider setti ng universal accepted prices amongst the stores and local farmers. The managers should still order their products based on their stores supply and demand. A universal or joint ordering system can result in waste or unused products. Organic foods is a special circumstance item because typically especially products such as produce, they have a short shelf-life. Which becomes especially important when purchasing organic foods, which is widely known to be more expensive than non-organic foods (2002) So, it would be best to keep the separate ordering system in place.

How Helpful Is Microsoft Word, Excel and Powerpoint?

Avery Parsons Man 1030-Week 3 Professor Nathan Riggs Nov. 4,2012 Please define each of these four forms of business ownership and then respond to the following questions: (1) Sole Proprietorship- A business that is owned and usually managed by one person; it is the most common form. (2) Partnership- A legal form of business with two or more owners. (3) Corporation- Is a legal entity with authority to have liability separate from its owners. 4) Franchisors-Owns the overall rights and trademarks of the company and allows its franchises to use these rights and trademarks to do business. The entity or person owning the rights or license of the business. Do you think that Sonic would have grown as large as it did today if had remained a Sole Proprietorship? Why or Why not ? In my opinion , I would say no due to the fact that it would have caused the disadvantage of limit growth, limited reasons and unlimited liability.In terms of partnership it would bring about conflicts with a partner, division of profits, difficulty termination and unlimited liability. As a corporation , they would have encountered limited liability, the ability to raise more money investments, ease of ownership change and the ease of separating of owner from management. What were the advantages and disadvantages to Sonic each form of business Ownership?The advantages are they have the ability to have as many Sonic Restaurants all over the world, personal ownership, lower failure rate and management marking assistance compared to someone who begin a business from scratch. The disadvantages are that they have large start-up costs, shared profits, management regulations and coattail effect. Another advantage would be having a unified voice to protect their investments. Sonic has survived and continues to be successful, not only by maintaining a strong fast food presence throughout the years as drive –in.While other chains have gone under one by one. There have been lots of drive –in a nd fast food restaurants over time. In your opinion what makes Sonic and other major successful than others? The quality food they serve. The nostalgia of this old time tradition or the novelty of it, depending upon the age of the customers it provides an irresistible attraction to a wide variety of clientele, making sonic potentially a very profitable franchise option. In closing ,Sonic restaurants still are no. through various changes and innovations made rather recently, Sonic Drive in has been able to expand its number of store locations within the past decade. Today there are nearly 3,000 Store locations all across the nation ,and the company boasts market capitalization that exceeds 1. 5 billion. References: Learning activities 1 and 2 Learning video Sonic is Booming Understanding Business McGraw & Hill Chapter 1 pgs. 8-11 Chapter 5 How to form a business-pgs. 114-145

Neonatal Nursing

Nursery/Neonatal Nurse Chamberlain College of Nursing Nursery Nursing A Nursery Nurse is a nurse who provides medical care for newborns and infants. Although they usually work in hospital nurseries, some work in outpatient care centers or private residences, providing in-home care for sick infants. Nursery nurses can also be categorized as neonatal (newborn) or pediatric nurses, depending on the age group they serve.Nursery Nurses may have a different title but perform many of the same duties as RNs and LPNs, including: administering treatments, medications, tests, and procedures, assisting physicians, creating or updating patient care plans, maintaining patient records and other duties but this all depends on the nursery level in which they work. I would like to be a nursery/neonatal nurse because I love working with newborns, I want to be challenged in my career, and I want to have a rewarding/successful profession. I would love to become a Nursery/neonatal nurse.I love newborns, t hey are little bundles of joy and I can be trusted to care for them. It’s not an easy job as some people would think. Not all babies come out â€Å"healthy† some are born with defects and need special care and that’s where we come in. Before this class I just knew I wanted to be a nurse but I was lost with finding which nursing role was for me. I went through six different nurse titles and I believe this one suits me the best. Now that I know what kind of nurse I want to be I can make sure I’m taking all the right classes and working harder to become a nursery nurse.Becoming a Nursery Nurse takes training, experience and education. You would need working knowledge of health and safety, good communication skills, ability to work with a team, NNEB, CACHE level 3, NVQ level 2/3 or equivalent, previous experience working within a similar environment and a little bit more. You have to ask yourself am I physical, emotional and spiritual prepared to care for chi ldren, can I distract them during unpleasant procedures. I have asked myself these questions and I am ready to care for others children.As I have said before this role is not easy and it will challenge me to become a great Nursery Nurse to take great care of newborns. More advanced roles will usually require additional training and/or experience. There is an organization called NHS employing organizations that may provide support to nursery assistants and nursery nurses, working towards relevant qualifications. Becoming a Nursery Nurse is rewarding because considering that newborns don’t talk, their non-verbal signs need to be decoded by nursing professionals. To me this is an important skill because if we don’t know what the babies need we can’t take care of them.They can identify and interpret signs babies display, because of alterations in their health, and proper care can be delivered and shared with family members. Understanding of the child's pain or other behaviors can be transmitted to the family members. I can imagine how these nurses feel knowing that they’re making the babies healthy and happy. Nursery nursing care is an interactional process of three channels: it involves interactions between the professional/newborn and professional/newborn and family (Pinheiro EM, Siiva MJP, Angelo A, Ribeiro CA). Although the work is non-stop according to payscale. om (2010) â€Å"the average salary with an advanced degree is $80,000†. It couldn’t get any better when you love going to work every day and getting paid a good amount of money while doing it. Nursing is a great career to invest in if you love helping people. I love helping people but I would prefer to work with babies because they are helpless and need people like me who are dedicated to only them. I will stay in school and get the best education I can to advance in my career. I feel this profession will fulfill my dreams and I will have a rewarding career.Re ferences Caleeda (2007). Nursery nurse. From http://www. caleeda. co. uk/page24/page32/page32. html Crown copyright. NURSERY NURSE AND NURSERY ASISTANT. (2006) http://www. nhscareers. nhs. uk/explore-by-career/wider-healthcare-team/careers-in-the-wider-healthcare-team/corporate-services/nursery-nursenursery-assistant/ Pinheiro, E. , Silva, M. , Angelo, M. , ; Ribeiro, C. (2008). The meaning of interaction between nursing professionals and newborns/families in a hospital setting. Revista Latino-Americana De Enfermagem (RLAE), 16(6), 1012-1018. .

How to Be an Anti-Racist Ally

How to Be an Anti-Racist Ally Do you feel overwhelmed by the destructive power of racism, but unsure of what to do about it? The good news is, while the  scope of racism in the U.S. might be vast, progress is possible. Step-by-step and piece-by-piece, we can work to end racism, but to begin this work, we must truly understand what racism is. First, review how sociologists define racism, then consider ways that each of us can work to end it. What Is Racism? Sociologists see racism in the U.S. as systemic it is embedded in every aspect of our social system. This systemic racism is characterized by unjust enrichment of white people, unjust impoverishment of people of color, and an overall unjust distribution of resources across racial lines (money, safe spaces, education, political power, and food, for example). Systemic racism is made up of racist ideologies and attitudes, including subconscious and implicit ones that might even seem well-meaning. It is a system that grants privileges and benefits to whites at the expense of others. This system of social relations is perpetuated by racist worldviews from positions of power (in the police or news media, for example), and alienates people of color who are subordinated, oppressed, and marginalized by such forces. It is the unjust costs of racism born by people of color, like denial of education and employment, incarceration, mental and physical illness, and death. It is racist ideology that rationalizes and justifies racist oppression, like the media narratives that criminalize victims of police and vigilante violence, like Michael Brown, Trayvon Martin, and Freddie Gray, as well as many others.​ To end racism, we must combat it everywhere it lives and thrives. We must confront it in ourselves, in our communities, and in our nation.  No one person can do it all or do it alone, but we can all do things to help, and in doing so, work collectively to end racism. This brief guide will help get you started. At the Individual Level These actions are mostly for white people, but not exclusively. Listen to, validate, and ally with people who report personal and systemic racism. Most people of color report that whites do not take claims of racism seriously. It’s time to stop defending the idea of a post-racial society, and recognize instead that we live in a racist one. Listen to and trust those who report racism, because anti-racism begins with basic respect for all people.Have hard conversations with yourself about the racism that lives within you. When you find yourself making an assumption about people, places, or things,  challenge yourself by asking whether you know the assumption to be true, or if it is something you have simply been taught to believe by a racist society. Consider facts and evidence, especially those found in academic books and articles about race and racism, rather than hearsay and â€Å"common sense.†Be mindful of the commonalities that humans share, and practice empathy. Do not fixate on difference, though it is important to be aware of it and the implications of it, particularly as regards power and privilege. Remember that if any kind of injustice is allowed to thrive in our society, all forms can. We owe it to each other to fight for an equal and just society for all. At the Community Level If you see something, say something. Step in when you see racism occurring, and disrupt it in a safe way. Have hard conversations with others when you hear or see racism, whether explicit or implicit. Challenge racist assumptions by asking about supporting  facts and evidence  (in general, they do not exist). Have conversations about what led you and/or others to have racist beliefs.Cross the racial divide (and others) by offering friendly greetings to people, regardless of race, gender, age, sexuality, ability, class, or housing status. Think about who you make eye contact with, nod to, or say â€Å"Hello† to while you are out in the world. If you notice a pattern of preference and exclusion, shake it up. Respectful, friendly, everyday communication is the essence of community.Learn about the racism that occurs where you live, and do something about it by participating in and supporting anti-racist community events, protests, rallies, and programs. For example, you could: Support voter registration and polling in neighborhoods where people of color live because they have historically been marginalized from the political process.Donate time and/or money to community organizations that serve youth of color.Mentor white kids on being anti-racist citizens who fight for justiceSupport post-prison programs, because the inflated incarceration rates of black and Latino people lead to their long-term economic and political  disenfranchisement.Support community organizations that serve those bearing the mental, physical, and economic costs of racism.Communicate with  your local and state government officials and institutions about how they can help end racism in the communities they represent. At the National Level Advocate for Affirmative Action practices in education and employment.  Countless studies have found that qualifications being equal, people of color are rejected for employment and admission to educational institutions far greater rates than white people. Affirmative Action initiatives help mediate this problem of racist exclusion.Vote for candidates who make ending racism  a priority; vote for candidates of color.  In todays federal government, people of color remain disturbingly underrepresented. For a racially just democracy to exist, we must achieve accurate representation, and the governing of  representatives must actually represent the experiences and concerns of our diverse  populace.Combat racism through national-level political channels.  For example, you could: Write senators and members of Congress to  demand an end to racist practices in law enforcement, the judiciary, education, and the media.Advocate for national legislation that would criminalize racist police practices and institute ways to monitor police behavior, like body cams or independent investigations.Join the movement for reparations  for  the descendants of African slaves and other historically oppressed populations within the U.S., because theft of land, labor, and denial of resources is the foundation of American racism, and it is on this foundation that contemporary inequalities thrive. Keep in mind that you dont have to do all of these things in your fight against  racism. Whats important is that we all do at least something.

Optimum Dividend Policy The WritePass Journal

Optimum Dividend Policy INTRODUCTION Optimum Dividend Policy INTRODUCTIONTESCO PLCAPPLE INCORPORATIONDIVIDEND AND DIVIDEND POLICYTHEORIES OF DIVIDEND POLICYDIVIDEND IRRELEVANCE THEORYDIVIDEND RELEVANCE THEORYRESIDUAL THEORYZERO DIVIDEND POLICYCONCLUSIONREFERENCERelated INTRODUCTION It is becoming increasingly difficult to ignore the significance of dividend policy, considering the fact that payment of dividend reduces earnings available for investment and increase external financing for investment purpose. Most households, investors and pensioners rely heavily on the dividends from their investments to make ends meet. A lot of theories have emerged regarding the dividend decisions made by companies. While some are of the opinion that the choice of dividend is irrelevant to the value of shareholder wealth, provided all retained earnings are invested in projects that give a positive net present value, others held the view that the capital structure decision is relevant as the cost of loan capital is cheaper than that of equity and as such advocates external source of financing as oppose to the use of dividends. This report will therefore examine some of the theories on dividend policies using five year dividend policy of Tesco Plc and Apple Incorporation. TESCO PLC Tesco is a retail store whose head office is in United Kingdom.   It has an unrivalled FTSE 100 record of increasing dividend for the 26th consecutive year. Its major shareholders as at July 2010 are Blackrock Inc which owns 5.24%, Legal general Investment Management Limited which owns 3.71% of the issued share capital of the company, Berkshire Hathaway Inc, 3.02% (Annual report, 2010, pp. 1-3 45). Tesco Plc final dividend payout extracted from the annual reports between 2006 to 2010 is: YEAR:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  2006  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2007  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2008  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2009  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2010 DIVIDEND (pence):  Ã‚  Ã‚  Ã‚   6.10  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   6.83  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   7.70  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   8.39  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   9.16 APPLE INCORPORATION Apple is an American multinational corporation incorporated in 1977 which manufactures computers, computer accessories and mobile phones. In 1980, the company went public, selling 4.6 million shares at a price of $22 per share and closing at $29. (CNET news, 1997). The company does not pay dividends despite its continuous increase in shares arising from the success in new products lunch. Below gives an overview of Apple dividend history. Year  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2009  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2008  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2007   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2006  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      2005 Dividends  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  $0  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   $0     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $0 Price  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $170.31   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $110.99   $198.08  Ã‚  Ã‚  Ã‚   $84.84  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   $0 Estimated EPS (year)   $5.84, Estimated EPS (quarter)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $1.38 Estimated EPS Growth 18.58%, Payout Ratio  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   0.00%. DIVIDEND AND DIVIDEND POLICY Dividend is a cash payment made to shareholders on a quarterly or twice in a year basis based on the amount of shares held and dependent upon the dividend policy adopted by the company.   It is normally paid to every shareholder at the record date and can be either in cash or reinvested into the business to generate capital gains (Atrill and McLaney, 2008, pp. 138-139). They are paid out of profit after deducting interest and tax liabilities and the Company Act 1985 makes it mandatory for companies to pay dividend out of accumulated net realised profit, taking into consideration any accumulated loss according to Consultative Committee of Accountancy Bodies (Watson and Head, 2007, p.84). Dividend can be also in the form of bonus shares whereby instead of shareholders receiving cash as dividend, they receive additional share known as script dividend (Atrill, 2009, p. 365). Some companies like Google and Apple have a zero-dividend stock while others like Tesco Inc pays dividend. THEORIES OF DIVIDEND POLICY There is increasing pressure for companies to cut dividend in order to finance projects that gives a positive net present value using retained earnings which is a major source of finance for companies in the United Kingdom (Watson and Head, 2007, p. 285). Retained earnings are being used because there are no issue costs involve and are quick to raise (ACCA F9, 2010, p. 556). However, the decision of a company to use retained earnings to finance its investments will be dependent on the attitude of shareholders and capital market to a reduction in dividend, availability and cost of external sources of finance and amount of fund require relative to the available distributable profits (ACCA F9, 2010, p. 285). The following are some of the dividend policy theories that will be discussed in this report. DIVIDEND IRRELEVANCE THEORY This theory was pioneered by Modigliani and Miller in 1961. It argued that in a perfect capital market where there is the absence of transaction costs, taxation and market imperfections, shareholders are concerned with increase in wealth and will be indifference to whether the increase is a result of capital gain or dividend (ACCA F9, 2010, p. 556). To an investor, whether a firm pays dividend or not should make no difference to the value of the firm and it does not counts whether it is paid out as dividend or reinvested to yield a capital gain as dividend policy does not have any effect on share price (Chiang et al, 2006, pp.6413). This supports Human Resource Director of Aspire Plc   of one dividend policy being as good as another as it has no effect on share price. Thus a company can choose to pay any amount of dividend and use retained earnings to finance projects that have positive net present value and maintain that shareholders who invest in a financial geared business will want a return that is the same with the return they will get from investing in a similar business that is ungeared and that returns the shareholders require from borrowing will remain unchanged with increase in levels of borrowing (Atrill, 2009, p. 344). Their argument is founded on the assumption that having a good security for the loans will prevent lenders from seeking additional returns. Modigliani and Miller fail to realised that human nature being naturally selfish and the business environment being chaotic, complex and unpredictable will make lenders seek higher returns so as to safe guard against such risk as global recession. Investors suffered dividend cuts with investments worth billions reduced to nothing in the wake of the financial crisis which were not matched by a reciprocal austerity on the part of investment bankers (Jones, 2011). Shareholders will require higher return due to the risk, inflation and interest.   Moreover, their argument is founded on three assump tions of an ‘ideal business world’ devoid of share issue costs, market imperfections, transaction costs and taxation whereas in reality, these exist. A perfect market assumption of market prices not being influenced by a single seller or buyer (Hussainey et al, 2011, p.59) is unlikely to hold. The financial markets operate in a chaotic and unpredicted world and in reality, costs like agency, bankruptcy, and transaction costs are incurred when investors buy or sell their shares and tax will be charged as well as inflation (Abor and Bokpin, 2010, p. 180). Moreover, monopoly exists where a single seller can influence price. The ongoing war in Libya for instance has led to a large increase in fuel price all around the world (Barbajosa, 2011). However, the third assumption of no taxation will hold to a great extent giving that the United Kingdom no taxation rule on capital gains below  £9200 applies, whereas all dividends are tax charged (Atrill, 2009, p. 372). The tax pos ition of an investor to a great extent will determine whether they prefer a capital gain to dividend and vice versa and shareholders will invest in companies whose dividend policies are in line with their investment needs DIVIDEND RELEVANCE THEORY This theory propounded by Lintner (1956) and Gordon (1959) is founded on the assumption that a shareholder will prefer to receive a dividend payment which is certain as oppose to investing the same amount in an investment whose value is not certain corroborating the point made by Aspire Plc Director of Operations that a known dividend now is preferred by shareholders to an uncertain capital gain in the future. This is similar to the bird in the hand dividend theory which says that a bird (dividend) in hand is worth more than two (capital gains) in the bush. Giving that future cash flows are uncertain, an investor will prefer dividends to retained earnings (Hussainey, 2011, p. 59). It therefore maintained that dividends are preferred to capital gains as a result of shareholders being risk averse. Some of their arguments is founded on the assumptions that dividends are a signal to shareholders and investors about the prospects of a company. This arises as a result of the asymmetry of i nformation between shareholders and managers (Alnold, 2007, p. 429). Thus shareholders see dividend as a means of passing across information to them as to the well being of their investments. A rise in dividend to the shareholder is a sign that the company has good prospects and share price tends to rise while a cut in dividend signals a poor performance (Tse, 2005, p. 14). Share prices thus go up when there is increase in dividend and go down when there is a cut in dividend and market makes use of announcement of changes in dividend payments in assessing the value of a security (Tse, 2005, p.14 in Pettit (1972). A pitfall of this notion is that an increase in dividend may implies that the company is short of positive net present value projects to invest in or has weak investments opportunities and as a result dispense cash out as dividend to shareholders (Baker and Wurgler, 2004, p. 1128). Apple does not pay dividend partly because of a similar reason that dividend payments give a negative perception that the company has run out of investments opportunities and as such will not grow much more (Elmer-Dewitt, 2010). Alternatively, companies with zero dividend shares like Berkshire Hathaway face a dilemma as to how to convey information about current performance and future prospects of the company if dividends are a means of passing on such information to the shareholders. Although investors invest in companies for various reasons, while some rely on dividend as a source of regular income like the pensioner and institutional investors who rely on dividend payments to meet various obligations and needs to meet, others prefer capital gains. However, like the argument put forward by the Sales Director of Aspire Plc that dividend policy should be structured to suit the type of shareholders a company has and dividend paid according to their needs,   company dividend policy should be drafted base on the company’s clientele (shareholders) base and their needs or income requirements. Aspire Plc shareholders are majorly individuals, pension funds and insurance companies having total shares holdings of 66.7%, giving the obvious that the company’s majority clientele base is mainly shareholders who have liabilities to meet and would therefore prefer that dividend be paid as against having them invested for capital gains which a unit and investment fund company will have a preference for. Regardless of the fact that shareholders want dividends paid to meet obligations and income needs, they are also interested in the growth of the company. In dispensing cash as dividends to shareholders or reinvesting to yield a capital gain, a company should also consider shareholders tax preference. While some shareholders want dividends, they do not want the tax liability that comes with it. The United Kingdom tax law exempt capital gains below  £9200 whereas dividends are taxable. As a result, shareholders will want to delay dividend being paid to them to take advantage of this exemption. Similarly, if there is share appreciation, the tax benefits of deferring capital gains into the future may outweigh the cost of paying a higher tax rate on a relatively small dividend (Whitworth and Zhang, 2010, p.681). In an attempt to send a positive signal about future prospects of a company, company pays dividend despites its tax disadvantages. The cost of this signalling is that cash dividends are taxed higher than capital gains. While some investors would rather have capital gains to cut down on tax impact, others may prefer dividends beca use they prefer immediate cash in hand (Hussainey, 2011, p.60). RESIDUAL THEORY The theory which share a similar view with Modigliani and Miller’s except that it recognises issue costs but there is no taxation and market imperfections and argued that though dividend are important, the pattern is not. It further reiterates that a firm should pay dividend from cash remaining after investing in net positive value projects. The problem is how an investor knows that a company is investing in projects that will enhance the value of a company due to the asymmetry of information between management and investors or shareholders?. Payments of dividend is a means by which managers signal the true value of the firm and communicate insider information about the company to the shareholders (Tse, 2005, p.13). It brings about the issue of agency as an investor cannot tell that his or her dividend accrued to him or her has been reinvested in positive or negative net present value projects or used by the directors to pursue their own interest of empire building to the detr iment of investors. A typical example is Enron Corporation that has its managers claimed to have been reinvesting shareholders money and creating value through acquisition of over forty one companies, investments worth billions of dollars   and increase in share price from $57.10 to $90.56 within 1998 by cooking fraudulent accounting information which the shareholders relied on. Its pre-initial public offering shares went from $10 million to $372 million within a day. It was soon discovered that the managers indulged in creative accounting to hide losses worth about $35 billion and had overstated income by $586 million. The share price went from $90.56 to $8.40 and subsequently to 61 cents (Gini et al, 2009, pp.110-114). Shareholders of firms can thus avoid incurring agency costs by reducing the cash available to the shareholders through the demand for dividend to reduce excess free cash flow. (ACCA F9, 2010, pp. 375-376) and (Hussainey, 2011, p. 60). ZERO DIVIDEND POLICY Some companies adopted a zero dividend policy whereby they do not pay dividends to their shareholders rather plough the cash back into the business to generate future capital gains. Companies such as Berkshire Hathaway, Google, Apple, and Microsoft until recently do not pay dividends.   Apple do not pay dividend despite its holdings in cash and marketable securities which have grown from $24.5 billion to $46 billion. Its Chief executive Officer had said that the company has no plans of paying dividend in the near future. The company believes that cash hoard is a fast and easy means of financing investments projects such as acquisition, Research and Development in new products and put the company in less fewer risks by using retained earnings as opposed to external sources of finance to avoid exposing the entire company to risk (Ghosh, 2011). This may be due to the fact that the company’s major shareholders are co-founder Steve Jobs, who owns more than 5.5 million shares, App le engineer and vice president Sina Tamaddon with 290,000 shares, and retail chief Ron Johnson with 232,000 shares. Other shareholders are institutional and Mutual Fund Holders. However, as of April 2009, more than 71 percent of Apples stock was owned by institutions and mutual funds with the largest institutional stock holder being FMR LLC, with 39.2 million shares, followed by Barclays Global Investors with 37 million. The top mutual fund holder is The Growth Fund of America with 24.1 million shares. In July 2009, the companys stock was trading at $142.40 per share (Desjardins, 2011). This goes to show that 71% of its shareholders are mutual fund trusts who do not have immediate pressing needs to meet and would therefore prefer a capital gain to dividend, hence the use of retained earnings by Apple to finance its business. Also, giving the nature of Apple’s business, the company needs to invest in research and development which most times takes years for a breakthrough to m anifest. Apple would have also chosen not to pay dividend due to failure of who had almost $60-billion of cash on the balance sheet, from which they used about $32-billion to make a special one-time dividend in 2004. Microsoft’s share chart showns that its share price has gone nowhere in ten years. Not even a number of stock buybacks have helped push up the stock price. Also, Cisco Systems announcement to start paying a dividend had its shares plunged from almost $70 in 2000 to just above $20 no, while Apple shares have skyrocketed from $7 per share in 2003 to more than $333 currently (Ghosh, 2011). CONCLUSION REFERENCE ABOR, J AND BOKPIN, G,A. 2010. Investment opportunities, corporate finance, and dividend payout policy: Evidence from emerging markets. Studies in economics and Finance, 27 (3), pp.180-195). ATRILL, P AND MCLANEY, E. 2008. Accounting   and Finance for Non-Specialists. 6th edn. England: Pearson Education. ATRILL, P. 2009. Financial Management for Decision Makers. 5th edn. England:   Pearson Education. Apple, Inc. (AAPN) Dividend Summary [WWW] (dividendinformation.com/AAPL_dividends (May 2011). ALNOLD, G. 2007. Corporate Financial Management. England: Pearson Education Limited. ACCA, F9. 2010. Financial Management: Complete text-December 2010. Berkshire: Kaplan Publishing UK. Barbajosa, A. 2011. Analysis: U.S. leverage to crimp Iranian oil exports fades. [WWW] reuters.com/article/2011/05/04/businesspro-us-iran-oil-leveage- (May 2 2011). BAKER, M   AND WURGLER, J. 2004. A catering theory of dividend. The Journal of Finance, LIX (3), pp. 1125-1166. CHIANG,K, FRANKFURTER,G.M, KOSEDAG, A, AND WOOD JR,B,G. 2006. The perception of dividends by professional investors. Manageria Finance [Online Journal], 32 (1), pp. 60-81. Available from Emerald at emeraldinsight.com/search.htm?st1=The+perception+of+dividends+by++professional+investorsct=allec=1bf=1go=Go (April 22 2011). COLLINS, D. 2006. Enron: the good, the bad and the really ugly. In: GINI, A and MARCOUK, A.M. Case studies in business ethics. 6th.Edn. London: Pearson prentice Hall, pp. 104-115. (CNET news, 1997). http://news.cnet.com/2009-1001-201295.html DESJARDINS, D. 2011. Who Owns the Apple Computer Company? [WWW] ehow.com/about_5143792_owns-apple-computer-company.html (April 25 2011). ELMER-DEWITT, P. 2010. Why Steve Jobs doesnt Pay Dividends. [WWW] http://tech.fortune.cnn.com/2010/08/13/why-steve-jobs-doesnt-pay-dividends/ (April 12 2011). GHOSH, P. 2011. Why doesn’t Apple pay a dividend? [WWW] ibtimes.com/articles/98718/20110107/why-doesn-t-apple-pay-a-dividend.htm (April 12 2011). HUSSAINEY, K, MGBAME,C. O AND MGBAME, A.M. 2011. Dividend policy and share price volatility: UK evidence. The Journal of Risk Finance [Online Journal], 12 (1), pp. 57-68. Available from Emerald at emeraldinsight.com/search.htm?st1=Dividend+policy+and+share+price+volatility%3A+UK+evidencect=allec=1bf=1go=Go (April 15 2011). JONES, A. 2011.   Barclays must   Ã‚  Ã‚  Ã‚  Ã‚   Clear Mists for Investors [WWW] ft.com/cms/s/0/8bdc54f6-70f4-11e0-962a-00144feabdc0.html#axzz1Lnlyn0w7 (May 8 2011) TSE, C. 2005. Use dividends to signal or not: an examination of the UK payout patterns. Managerial Finance. 31 (4), pp. 12-33. Tesco Major shareholders tescoplc.com/plc/ir/financials/shareholders/ 9/5/11 TESCO. 2010. Annual Report. WATSON, D AND HEAD, A.   2007. Corporate Finance. 4th edn. England: Pearson Education Limited. WHITWORTH, J AND ZHANG,Y.2010. Accrued capital gains and ex-dividend day pricing. Managerial Finance Vol. 36 No. 8, 2010 pp. 680-702

The Development of Banking in the Industrial Revolution

The Development of Banking in the Industrial Revolution As well as industry, banking also developed during the Industrial Revolution as the demands of entrepreneurs in industries like steam  led to a vast expansion of the financial system. Banking Before 1750 Before 1750, the traditional ‘start date’ for the Industrial revolution, paper money and commercial bills were used in England, but gold and silver were preferred for major transactions and copper for daily trading. There were three tiers of banks already in existence, but only in limited numbers. The first was the central Bank of England. This has been created in 1694 by William of Orange to fund wars and had become a foreign exchange storing foreign country’s gold. In 1708 it was given the monopoly on Joint Stock Banking (where there’s more than 1 shareholder) to try and make it more powerful, and other banks were limited in size and resources. Joint stock was declared illegal by the Bubble Act of 1720, a reaction to the great losses of the collapse of the South Sea Bubble. A second tier was provided by less than thirty Private Banks, which were few in number but growing, and their main customer was merchants and industrialists. Finally, you had the county banks which operated in a local area, e.g., just Bedford, but there were only twelve in 1760. By 1750 private banks were increasing in status and business, and some specialization was occurring geographically in London. The Role of Entrepreneurs in the Industrial Revolution Malthus called entrepreneurs the ‘shock troops’ of the industrial revolution. This group of individuals whose investment helped spread the revolution were based mainly in the Midlands, a center  for industrial growth. Most were middle class and well educated, and there were a substantial number of entrepreneurs from non-conformist religions like the Quakers. They have been characterized as feeling they had to be challenged, had to organize and succeed, although they ranged in size from major captains of industry to small-scale players. Many were after money, self-improvement, and success, and many were able to buy into the landowning elite with their profits. The entrepreneurs were capitalists, financiers, works managers, merchants, and salesmen, although their role changed as the business developed and the nature of enterprise evolved. The first half of the industrial revolution saw just one individual running the companies, but as time went on shareholders and joint stock companies emerged, and management had to change to cope with specialized positions. Sources of Finance As the revolution grew and more opportunities presented themselves, there was a demand for more capital. While technology costs were coming down, the infrastructure demands of large factories or canals and railways were high, and most industrial businesses needed funds to start up and get started. Entrepreneurs had several sources of finance. The domestic system, when it was still in operation, allowed for capital to be raised as it had no infrastructure costs and you could reduce or expand your workforce rapidly. Merchants provided some circulated capital, as did aristocrats, who had money from land and estates and were keen to make more money by assisting others. They could provide land, capital, and infrastructure. Banks could provide short-term loans, but have been accused of holding the industry back by the legislation on liability and joint-stock. Families could provide money, and were always a trusted source, as here the Quakers, who funded key entrepreneurs like the Darbys (who pushed forward Iron production.) The Development of the Banking System By 1800 private banks had increased in number to seventy, while county banks increased rapidly, doubling from 1775 to 1800. These were set up mainly by businessmen who wanted to add banking to their portfolios and satisfied a demand. During the Napoleonic Wars, the banks came under pressure from panicking customers making cash withdrawals, and the government stepped in to restrict withdrawals to just paper notes, no gold. By 1825 the depression which followed the wars had caused many banks to fail, leading to a financial panic. The government now repealed the Bubble Act and allowed joint-stock, but with unlimited liability. The Banking Act of 1826 restricted the issuing of notes- many banks had issued their own- and encouraged the formation of joint stock companies. In 1837 new laws gave joint-stock companies the ability to acquire limited liability, and in 1855 and 58 these laws were expanded, with banks and insurance now given limited liability which was a financial incentive for investment. By the end of the nineteenth century, many local banks had amalgamated to try and take advantage of the new legal situation. Why the Banking System Developed Long before 1750 Britain had a well-developed money economy with gold, copper, and notes. But several factors changed. The growth in wealth and business opportunities increased the need for both somewhere for money to be deposited, and a source of loans for buildings, equipment and- most crucially- circulating capital for everyday running. Specialist banks with knowledge of certain industries and areas thus grew up to take full advantage of this situation. Banks could also make a profit by keeping a cash reserve and lending out sums to gain interest, and there were many people interested in profits. Did Banks Fail Industry? In the US and Germany, industry used their banks heavily for long-term loans. Britons didn’t do this, and the system has been accused of failing industry as a result. However, America and Germany started at a higher level, and needed much more money than Britain where banks weren’t required for long-term loans, but instead for short-term ones to cover small shortfalls. British entrepreneurs were skeptical of banks and often preferred older methods of finance for start-up costs. Banks evolved along with British industry and were only a part of the funding, whereas America and Germany were diving into industrialization at a much more evolved level.