Partnership and Its Types Essay

A partnership arises whenever two or more people co-own a business, and share in the profits and losses of the business. Each person contributes something to the business — such as ideas, money, or property — though management rights and personal liability will vary. In Pakistan the partnership firms are registered under the partnership act 1932 which defines the partnership as â€Å"The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all† There should be at least two or maximum twenty partners in a firm with the exception of banking where maximum of ten partners could make the partnership A partnership may be registered with the Registrar of Firms of an area where the office of the firm is situated or proposed to be situated. A statement in prescribed form must be delivered to the relevant Registrar stating: †¢Firm name †¢Place or principal place of business of the firm †¢Names of any other places where the firm carries on business †¢Date when each partner joined the firm †¢Names in full and permanent addresses of the partners †¢Duration of the firm †¢Foretasted statement signed and verified by each partner Types of partners Active or working partner: Such a partner contributes capital and also takes active part in the management of the firm. He bears an unlimited liability for the firm’s debts. He is known to outsiders. He shares profits of the firm. He is a full-fledged partner. 2. Sleeping or dormant partner: A sleeping or inactive partner simply contributes capital. He does not take active part in the management of the firm. He shares in the profits or losses of the firm. His liability for the firm’s debts is unlimited. He is not known to the outside world. 3. Secret partner: This type of partner contributes capital and takes active part in the management of the firm’s business. He shares in the profits and losses of firm and his liability is unlimited. However, his connection with the firm is not known to the outside world. 4. Limited partner: The liability of such a partner is limited to the extent of his share in the capital and profits of the firm. He is not entitled to take active part in the management of the firm’s business. The firm is not dissolved in the event of his death, lunacy or bankruptcy. 5. Partner in profits only: He shares in the profits of the firm but not in the losses. But his liability for the firm’s debts is unlimited. He is not allowed to take part in the management of the firm. Such a partner is associated for his money and goodwill. 6. Nominal: Such a partner neither contributes capital nor takes part in the management of business. He does not share in the profits or losses of the firm. He only lends his name and reputation for the benefit of the firm. He represents himself or knowingly allows himself to be represented as a partner. He becomes liable to outsiders for the debts of the firm. A nominal partner can be of two types: 7. Minor as a partner: A minor is a person who has not completed 18 years of age. A minor cannot become a partner because he is not qualified to enter into a contract. But he may be admitted to the benefits of partnership with the mutual consent of all the partners. On being so admitted, a minor becomes entitled to a share in the profits of the firm. He can inspect and copy the books of account of the firm but he cannot take active part in the firm’s management. His liability is limited to the extent of his share in the capital and profits of the firm. He cannot file a suit against the firm or its partners to get his share except when he wants to disassociate himself from the firm. After becoming a major, the minor must give a public notice within six months if e wants to break off his connections with the partnership firm. If he does not give such a notice within six months or if he decides to remain in the firm, he becomes liable to an unlimited extent for the debts of the firm from the date he was admitted to the benefits of partnership. He also becomes entitled to take active part in the management of the firm’s business. 8. Sub partner: He is a third person with whom a partner agrees to share his profits desired from the firm. He does not take part in the management of the firm. He is not liable for the firm’s debts.

Communication Studies: Examples of preface Essay

A poem was chosen to portray this piece because readers seem to be more appreciative of poems. This genre allowed the opportunity to create the perfect setting in which a young girl is enticed into prostitution. I was inspired to do this piece because I wanted to help some of my friends and hope that this genre of the poem will reach them. The intended audience is adolescent girls as they are at high risk of being lured into this practice via media influences that make it seem ‘acceptable’ to indulge in vulgar behaviour and promiscuous acts. An appropriate place for this reflective piece would be in a school newspaper/class notice board, as well as in a school library for easy accessibility. This piece was written in an attempt to sensitize the public of this ever growing epidemic among the young girls of the Caribbean. Example B A dialogue was chosen for this reflective piece because it was the most effective genre to express my thought and feelings about the topic of discussion. It gave the opportunity for my ideas to flow freely. This piece entitled â€Å"Last Resort† discusses one prostitute’s situation and the reasons for her current lifestyle. A dialogue was also chosen to portray this piece as I wished to present at real life scenario that one can easily relate to and understand. The intended audience for this piece is young girls, particularly in their teenage years as they are most susceptible to becoming prostitutes due to poverty and sexual abuse at home. The best place for this piece would be in a teen magazine or newspaper, posted on notice boards at various schools and in the public libraries for wide accessibility. â€Å"Last Resort† intends to sensitize young females in the Caribbean in a dramatic way on the circumstances that may lead to prostitution in an attempt to avoid this lifestyle as much as possible , and hopefully lead to action where precautionary measures may be taken into curb this prevalence.

Francis Bacon and Rene Descartes Essay

The Discourse on the Method of Rightly Conducting One’s Reason and of Seeking Truth in the Sciences is one of the most influential works in the history of modern philosophy, and important to the evolution of natural sciences. In this work, Descartes tackles the problem of skepticism. Descartes modified it to account for a truth he found to be incontrovertible. Descartes started his line of reasoning by doubting everything, so as to assess the world from a fresh perspective, clear of any preconceived notions. Whereas Francis Bacon’s Scientific Method wanted to replace the deductive reasoning by inductive reasoning. The important concept in this reformed thought is about discovering truth rather than establishing the beliefs by deduction. The scientific and philosophical contributions that Rene Descartes and Francis Bacon helped form a single concept of the scientific method. The scientific method was a new way to reach a conclusion about anything and refers to a way one should acquire knowledge, or investigate a phenomenon or to correct and refine previous unproven knowledge. It is a five step method; the inquiry, initial hypothesis, action of investigation, results and conclusion. Rene Descartes was born in France at La Haye near the city of Tours in 1596. He went to school at the age of eight at La Fleche in France; he was a student there until the age of sixteen, in which he studied scholastic philosophy and mathematics. Later he was educated at the Jesuit College of La Fleche between 1606 and 1614. When he was nineteen he left Jesuit College for the University of Poitiers, where he studied law for two years and graduated in the year 1616. He got a degree in law but developed a passion for mathematics because he saw it as one field where absolute certainty could be found. Descartes also saw it as a means for achieving greater progress in both science and philosophy. He later claimed that his education gave him little of substance and that only mathematics had given him certain knowledge. In 1618-1621 he enlisted in the army, military service was tradition in his family, and when the Thirty Years’ War began he was encouraged to volunteer under the Count de Bucquoy in the Bavarian army. In his leisure time he studied mathematics, having been influenced by the Dutch mathematician and scientist Beeckman. He left the army in 1621 he dedicated his life to the study of science and philosophy (1621-1649). During which time he published his most influential works, by 1650 his health was depleting and he passed away in Stockholm of pneumonia at the age of fifty-three. Francis Bacon was born in London. He entered Trinity College, Cambridge, at the age of twelve. He studied law and became a barrister in 1582; two years later he took a seat in the House of Commons. Bacon’s opposition, in 1584, to Queen Elizabeth’s tax program delayed his political advancement. While in the earlier days he supported the Earl of Essex, Bacon, in 1601, was involved in his prosecution. With the accession of James I (1566-1625) and thereafter, a number of honours were bestowed on Bacon: he was knighted in 1603, made Solicitor General in 1604, Attorney General in 1613, and Lord Chancellor in 1618. He was an English lawyer, statesman, essayist, historian, intellectual reformer, philosopher, and supporter of modern science. Early in his career he claimed â€Å"all knowledge as his province† and afterwards dedicated himself to an extensive revaluation and re-structuring of traditional learning. To take the place of the established tradition a miscellany of Scholasticism, humanism, and natural magic, he proposed an entirely new system based on empirical and inductive principles and the active development of new arts and inventions, a system whose ultimate goal would be the production of practical knowledge. Descartes and Bacon were influenced by 16th century society. What does the situation look like in Europe in terms of science and philosophy in 1500’s? Scholasticism is over in terms of being a philosophical point of view. It is still practiced in some universities and will be practiced up until the 18th century at least. Three fundamental changes have occurred during the Renaissance; Aristotle portrayed the understanding of the universe, Galen described the importance of medicine and to understand astronomy Ptolemy described it. In 200 years there has been a revolutionary change, Rene Descartes and Isaac Newton have replaced Ptolemy in astronomy. Galileo has replaced Aristotle in physics. Harvey has replaced Galen in medicine. The three ancient authorities have been over thrown. In Rene Descartes’ Discourse on Method he expresses his disappointment with traditional philosophy and with the limitations of theology; only logic, geometry and algebra hold his respect, because of the utter certainty which they can offer us. Unfortunately, because they depend on hypotheses, they cannot tell us what is real, i. . what the world is really like. Therefore Descartes suggests a method of thought combining the consistency of mathematics but based on natural truths about what is real, basic knowledge which could not be wrong (like the axioms of geometry). He calls into question everything that he thinks he has learned through his senses but rests his entire system on the one truth that he cannot doubt, namely, the reality of his own mind and the radical difference between the mental and the physical aspects of the world. What is crucial to Descartes is reason because he wants to establish a foundation for the sciences. Reason is a constant for Descartes; he is given credit as starting the modern rationalist school. Rationalists were people who philosophers who felt that every human being possessed ideas about the world that each of us was born with and they were the bases of much of our knowledge. Descartes does tend to rationalism. â€Å"Thus our convictions result from custom and example very much more than from any knowledge that is certain. Look at how we operate as human beings in society. Our beliefs and convictions come from tradition, we believe certain things and act in certain ways, and we are interested in certain things because of the traditions that preceded us. Descartes apposes this to knowledge that is certain, in other words basically he does not have much time for tradition. Beliefs and convictions are not knowledge. Knowledge is something that you can be certain of. When Descartes says knowledge, he means no possibility of doubt at all. Absolute certainty is knowledge and this is what he wanted for his new foundation for the sciences. Certainty is everything, not gut certainty, gut feeling is purely psychological subject feeling. Feeling is not included when referring to certainty, object certainty is certainty is there no matter what your feeling is it is a state of affairs that is there if you like it or not and you know it in such a way that you cannot possibly be mistaken and you cannot possibly doubt it. Descartes criticizes tradition; he says we can’t rely on tradition for true knowledge. In terms of the contemporary world you cannot rely on the point of view of the masses of people when we are trying to deal with or discover new knowledge that might be somewhat difficult to get a handle on. Descartes only relies on one thing mainly and that is his reason. â€Å"I decided to go slowly and to be so careful about everything that, even if I made very little progress, I would at least prevent myself from falling. I did not even wish to begin rejecting completely any of the views that may have slipped among my beliefs previously without having been introduced there by reason. He wants to go slowly and not make mistakes because he is dealing with his own mind and thoughts. When Descartes is considering beliefs he wants only those beliefs that have been checked out by his reason. â€Å"Everything that I accepted as being most true up to now I acquired from the senses or through the senses. However, I have occasionally found that they deceive me, and it is prudent never to trust those who have deceived us, even if only once. † Descartes tries to undermine his beliefs by considering the fact that he remembers that his senses have deceived him before. Descartes’s goal is to suspend judgment about any of his beliefs which are even slightly doubtful. Descartes talks about the three disciplines of mathematics, logic, geometric analysis and algebra. In logic a form of deductive reasoning consisting of a major premise, a minor premise and a conclusion is called a syllogism. Example, Major premise: All men are mortal. Minor premise: Socrates is a man. Conclusion: Therefore Socrates is mortal. The key thing about a syllogism for Descartes is that as an argument form it does not help us learn anything new. Individuals use arguments to establish aspects that are new, that are different from the premises, the example above does not tell an individual something new because all the information is provided within the premises. In deductive logic when all the premises are true and the argument is valid it goes by the rules of logic, than the argument is a sound argument and the truth of the conclusion is guaranteed. Descartes wants a logic that is going to help discover new truths. In the case of syllogisms and most of its other rules are more useful for explaining to someone else what one already knows or even, for speaking uncritically about things that one does not know, rather than for learning them. † Descartes says this logic does not help with discovering a new scientific method and he cannot rely on logic alone to generate a new method. Regarding geometry â€Å"is always so tied to the discussion of shapes that it cannot exercise the understanding without greatly tiring the im agination. † He is happy with the understanding, which for Descartes also means reason. Descartes does not agree with imagination because imagination can get tired while it is conjuring up various images. He is pro understanding and reason but is suspicious of imagination and unfortunately geometry is reliant on imagination and therefore he cannot rely completely on geometry for his new method. Algebra is so constrained by certain rules and symbols that it has become a confused art that hinders the mind rather than a science that assists it. Descartes decides to do it by himself and develop a method on his own. He assembles four basic rules for his method and they also reflect what goes on in basic science in modern day. The first was never to accept anything as true if I did not clearly that it was so. † No subjection bias and jumping to conclusions. Jumping to conclusions is one of the criticisms he makes of some forms of reasoning and jumping to conclusions simply means on the bases of very little data I make a conclusion beyond that data. A modern day example supporting Descartes first rule is to go buy a new car, take the car out for a test drive and drive it for about 10- 20 minutes than decide to buy the car because it is fabulous and it will never have any problems. Descartes says this is hasty reasoning that is drawing a hasty conclusion, in other words you haven’t driven that car enough to make that kind of conclusion about the quality of that car. Analytical is the second rule, the problem that you are dealing with as a scientist. The first thing you do when you confront a problem is to break it down into its parts. In other words what are the elements of this problem? Descartes is saying the best way to solve a problem is to first break it down to analyze it into its smallest sub parts and then attack it. The third rule was reconstruction/reduction. Reduction refers to subject matter, â€Å"to guide my thoughts in an orderly way by beginning with the objects that are the simplest and easiest to know. † In other words you break down the objects to their simplest part which is the reduction and then you reconstruct from the parts of the object. When you are reconstructing you are looking for the internal order of the subject matter. Comprehensiveness is the fourth rule for Descartes’ method. Means to make sure nothing relevant has been left out of consideration. That you have dealt with the entire object and all of its parts and not just some of the object and some of its parts. The bases of his method is that if all inferences that if they result from an argument that has all true premises and follows the rules of logic than the conclusion is necessarily true. This is the possibility of the perfect argument, if one every time someone criticizes you was able to devise an argument that had all true premises and followed the rules of logic one could be assured that the truth of your conclusion every time out was true. At the beginning of his adult life, Francis Bacon aimed at a revision of natural philosophy; he wanted a new system which emphasized empirical methods and laying the foundation for applied science. The apparent difference between Descartes and Bacon, Descartes emphasis was on deduction and reason; Bacon is caught more by empiricisms which mean he believes all our knowledge comes from sense experience. In 1603 Bacon writes the interpretation of nature. Here he opposes Aristotelian thought and purposes a new outline for a new method. Like Descartes he has no use for tradition, for the philosophical tradition and the scientific tradition he has no use for it what so ever. Bacon is saying we need a new start.

Youtube-The Democratization of Art Essay Example | Topics and Well Written Essays - 750 words

Youtube-The Democratization of Art - Essay Example It provided various benefits to people. It served as a way to communication and knowledge among people. The trends of a country keep on changing; similar to that effect of mass communication has changed the history and past trends of pop culture. People are moving more towards internet, mobile, websites for social gathering and information. Presently, every individual have considered it to be a popular culture to join other groups through face book, twitter, creating blogs and promoting their opinion by uploading videos. 1.2 Contemporary pop culture Pop culture is the combination of perspectives, ideas, attitudes, images and other such things, which is an informal consensus of our culture, mainly western culture of 20th century. It also reflects the past trends as well as the trends of 21st century. It is heavily influenced by mass media. It is the only factor which affects culture of the society. Perception of people keeps on changing due to the influence of mass media. Various new ideas of mass media affect attitude and perception of the society. Though it has been adopted very frequently, there has been vast criticism on it from various sources mainly from countercultural and religious groups. Pop culture began by providing a meaning of culture to lower classes; this usage was established in antebellum period. 1.3 Changes in the cultural landscape There has been a drastic change in the cultural landscape of every country due to mass communication and media. ... Folkfores are going more towards commercial elements on face book, twitters, blogs, YouTube etc. This change in culture has not only affected individuals but as well as business sectors. Industries are using these websites to attract customers rather than preferring traditional promotional methods. The belief and opinions based on society, cinemas, social gathering is gradually fading away and people are dependent more on portable facilities of websites. 1.4 Current trends Current trends of culture are mainly affected by mass communication which is mainly originated from United States. Pop culture was abbreviated in the late dates of 1960s. Though there have been many changes in the cultural trends since last decades. Culture has been greatly influenced by changing evolution of mass media. Presently, people prefer to adopt face book, YouTube, blogs and twitter. It has become a popular culture among people for socialization. Presently mass media have been characterized in seven branch es i.e. internet, television, print, mobile phones, radio, cinema and recordings. Out of these people are more addicted towards internet and mobile phones. Internet media have provided the facility of websites such as face book, YouTube and twitter, blogging etc. because of this reason presently organizations are focusing in having their outlets on web. Another current trend which has been facilitated thorough websites is online shopping. People consider it one of the most popular cultures to do shopping online rather than visiting places. This changed trend has affected all generation’s even teenagers by offering various online games through internet. One of the current culture businesses have adopted is using twitter in order to promote companies

Immigration and Poverty Essay Example | Topics and Well Written Essays - 1250 words

Immigration and Poverty - Essay Example Immigration assists in the development and understanding of cultural diversities and help in promoting anti-racist sentiments (Rowthorn 2004). But at one time immigration becomes a problem for the host country as many say that it has become a problem for United States as it has reached its peak. Many point out this argument and this would be further discussed in this essay along with the argument of the proponents of immigration who believe that immigration is helping the countries to prosper in every way. Immigrants mainly belong to the underdeveloped nations where the financial crisis pushes them to immigrate. Policies which include the rules of free trade actually serve as a burden rather than reliefs for the poor countries making them dip into poverty even more. These underdeveloped nations have debts to pay off and much of their income goes into actually paying the interest on these debts. Moreover, the developed nations to pledge to assist these countries by providing them aid but these developed countries never reach their set goal. All these factors contribute to the increasing poverty in the world to an extent that it has been reported that over the past three decades 60 nations in the world have sunk deeper into poverty. The people living in these countries are left with no options and the final ray of hope for them is immigration. It is the only way for them to lead a better life ahead (Education for Justice 2006). Immigration can also serve to be beneficial for the countries where these people migrate.  

Business Law Case Analysis Study Example | Topics and Well Written Essays - 500 words - 1

Business Law Analysis - Case Study Example A guard who was on the platform tried pushing the passenger into the train, while another guard, who was in the train, tried grabbing the passenger. The man had a package, which had fireworks, and dropped in the process of boarding the train and exploded. It was however not easy to know the package’s content and upon explosion, scales on the other side of the rail’s platform fell, causing injury to the plaintiff. The plaintiff sued the guards for negligence that the trial court upheld and the appellate court affirmed, forcing the rail company to appeal at the New York Court of Appeal (New York Court of Appeal 1). Doctrines of causation, proximate cause, and forceability apply to negligence. Despite existence of duty of care, whose breach may amount to harm, these doctrines determines existence of negligent liability. Negligence is upheld if suffered harm would not have happened, had the defendant not assumed his or her action, and a strong connection also ought to exist between a defendant’s act and the suffered harm (Roger and Miller 305, 306). Under foreseeability doctrine, liability arises if, from an ordinary man’s perspective, a risk is likely to occur, and not just a mere possibility of occurrence, and such was a court decision in the case of Fardon v. Harcourt-Rivington. The same decision was held in the case of Bolton v. Stone where even possibility of occurrence, unless occurrence is possible, from a realistic perspective, does not induce negligence liability (Mandaraka-Sheppard 609). Facts of the case undermines causation because the passenger’s suffered instability could have caused the falling of the package, independently, into the harm that the plaintiff suffered, and this further transcends to undermine proximate cause. The fact that the guards could not identify content of the package, to foresee possible impacts of their actions also undermines negligence on from the guards. Even if the content could be identified, possible

Art in South Africa Research Paper Example | Topics and Well Written Essays - 2000 words

Art in South Africa - Research Paper Example From the early days of colonization by the Dutch, then the independence from the British, the apartheid era from 1949 to 1989 and the post apartheid era, art in South Africa has been hugely diversified in terms of subject and matter. The population in South Africa is hugely diverse when it comes to the issue of race. The leading races found in South Africa include Blacks, Whites, Indians and Coloured’s. The role of race in South African Art cannot be ignored as it has had a significant impact and resonates in Most of the South African artists work. An exhibition of South African artwork from the 19th century to modern popular art pieces will take place at University Gallery for students, faculty, and staff attending Indiana State University. The exhibition will run for one week in celebration of the South African Art Struggles during the apartheid period. The art exhibition will run daily for the seven days starting from 12pm to 5 pm and later on Guest artists from South Afric a will take to the podium and share their experiences on the history of art in South Africa. Objectives The history of South Africa has been told through many forms. However, art is one of the forms that captured the history of the country since Ancient times. Students in the university will have a better understanding of South Africa history in the eyes of different artists, through different races and lastly through different forms of art media. The history of art itself in South Africa is an intriguing one, and in holding the exhibition, cultural understanding of South Africans will be achieved. At the end of each exhibition and lectures, students and lectures will fill single cards to determine the impact on students. Context The audience that this exhibition target includes students and lecturers from different faculties at Indiana State University. The university population is composed of students from different cultural background. Knowledge on the different cultures is essen tial for each student and faculty individuals in the university. This will help in understanding other people’s culture while at the same time ensuring that there is cohesion in the University population. Students need to learn beyond their own culture and this art show will be  enable better understanding of   differences in other cultures. South Africa has a rich cultural background and those who wish to have future dealings in South Africa will find the exhibition particularly educative. Community Connections For the exhibition to run smoothly volunteers from the student body will be required to ensure that security and issues of mobilizing and ushering in guests are taken care of. The transportation of the artwork will also require students and other volunteers. The University Gallery will need to be cleaned daily.   Preparations for the lectures by the various guest artists has to be done. The help of the student community will be beneficial to ensure that the exhi bition is a success. Budget The exhibition will require funds to help transport various south African art pieces from Art galleries around the university. The galleries will also need some amount of money to be paid so that they can lend the paintings and other art pieces. This will be achieved by organizing fundraising events to help collect enough money. The South African consulate will also be approached to offer the sponsorship of

South Florida Economic Policy Recommendation Paper Research

South Florida Economic Policy Recommendation - Research Paper Example While considering the economy of Florida it is important to take into consideration the MSA functions as one of the engines of economic growth with various public, private and nonprofit institutions within the three county MSA and beyond. The economy suffered a slowdown in the later stages of the last decade but currently population is on the rise. The population is highly mobile with a combination of large influx of international migration coupled with large number of domestic migrants. The large and diverse population is an asset for the economy to compete on the global platform. The diverse population offers multi-lingual workforce and diverse culture for business environment. The growth track of the economy will allow the local governments to make significant amount of investments on infrastructure. The Comprehensive Economic Strategy provides the road map for the economy to strength itself. The update for 2012 of the CEDS brings an opportunity to align and coordinate with variou s states through integrated and results oriented approach. The update follows the six pillars of Florida’s future economy. The pillars are supply of talent and education, inventions and development of the economy, infrastructure and growth leadership, competitiveness and suitable climate for business, civic as well as Governance systems and Quality of places and life. The state is following the five year strategic plan based on the above discussed pillars. The recovery of South Florida may be in doubt but the recent months have succeeded to gather some success (Oyola-Yemaiel, 2000, p. 354-357). The improving labor market has produced a gross gain for the economy. The start of this year replicated the conditions with that of 2002. The dials shifted after the improvement of employment statistics. According to the releases of the University of Central Florida even if the economy is in the phase of experiencing sluggish progress but the forecasts surely beats that of recession. T he economy has to cover a long way before it can make any mark of the global scenario. The Economic Problem To analyze the economic problems or the opportunities for the region the most important that comes on the mid of analysts are steady supply of talent and improved educational facilities. There is an emerging talent gap in Florida. There is a crisis in human capital that represents a vast and ever widening gap between the need of available skilled and educated workforce and availability of workforce. The council of Florida of 100s Closing the Talent Gap published the issues and requisite recommendations related to the talent supply chain of Florida which is defined in four zones namely Pre-K, Primary or Secondary, the post Secondary phase and the Development of Workforce. In the coming years new innovative products will be introduced to deal with the challenges of environment, medical as well as transportation. The application of the policies will break through to gain the rewa rds of leadership. Efforts are the call of the time of the time to develop the right skills for the right people and at the right time. The talent Supply chain of the country aims to attract new businesses into the country as well as expand the already existing ones by the promotion of the delivery system, to strike a balance between the supply and demand of talent to met the requirements for the new economy, build a repository of all programs made available for the business opportunities, develop some measures to analyze the development of the talent supply chain over time. According to UCF, the construction sector of the country suffered huge job loss and it is expected that the sector will find the track again in 2031. The rate of

What Should the Media Do to Respect Right for Privacy Essay

What Should the Media Do to Respect Right for Privacy - Essay Example This research will begin with the statement that according to â€Å"Things that are not in the U.S. Constitution†, (n.d.), is it reported that â€Å"The Constitution does not specifically mention a right to privacy. However, Supreme Court decisions over the years have established that the right to privacy is a basic human right, and as such is protected by virtue of the 9th Amendment. The right to privacy has come to the public's attention via several controversial Supreme Court rulings, including several dealing with contraception (the Griswold and Eisenstadt cases), interracial marriage (the Loving case), and abortion (the well-known Roe v Wade case). In addition, it is said that a right to privacy is inherent in many of the amendments in the Bill of Rights, such as the 3rd, the 4th's search and seizure limits, and the 5th's self-incrimination limit".  Although the right to privacy is not specifically stated in the text of the Constitution, the 14th, 1st, 4th, and 5th Ame ndments have provided some privacy protection. The right to privacy protects individuals from information that is gathered, collected, and how the information is used.  Individuals have the freedom to decide whether or not to participate in certain acts or to subject himself/herself to certain situations and experiences. This right of privacy is protected by the 14th Amendment.  Unauthorized use of an individual's name or likeness is protected by the Right of Publicity. For commercial reasons and purposes, this gives an individual the right to license the use of their identity. There are four invasion types of invasion of privacy, according to The Restatement Second of Torts. These include an appropriation of name or likeness, intrusion, unreasonable publicity, and false light.

Use of 3D glasses in cinemas Research Paper Example | Topics and Well Written Essays - 750 words

Use of 3D glasses in cinemas - Research Paper Example Cinema, as we have them in modernity today, has had its share of evolution ever since film was invented. If they were once merely dark theatres with images projected on the screen, they have now become a luxurious avenue to provide utmost entertainment.Although many of these trends have arrived in the more recent years, the use of three-dimensional (3D) glasses in cinemas had been present in the 1950s. Also, such trend is only a recurring gimmick to attract movie goers, not necessarily giving viewers the â€Å"perfect† movie experience. Binocular Vision and 3D History Stereoscopy, or 3D imaging, began with Charles Wheatstone’s discovery of binocular vision or stereopsis, defined as â€Å"the ability to use the combined points of view from the two eyes or cameras to reconstruct three-dimensional solid objects and to perceive depth,† (Mataric 114) which is the backbone principle of stereoscopic cinemas.A brief history of stereoscopic cinema as presented by Ronfard is adapted in this paper. In the 1950s, movie theater audience was significantly reduced in the emergence of the television (TV), and stereoscopic cinema became an approach to bring them back. Thus, this caused the emergence of a flock of commercial stereoscopic films during the decade, but eventually died down because of the discomfort it gives the audience. 3D movies could not surpass the value of two-dimensional (2D), because the visual quality and cinematographic content of the former, brought about by lack of mastery in stereoscopic filming techniques therefore giving viewers a headache. The 1980s was again bombarded with stereoscopic films, but was not successful as well, not until technology needed to produce quality stereoscopic films, both for shooting and viewing, arrived. Animated movies in 3D then came with lower visual strain to viewers, paving a way for new experiments on the field. Thus, this period became 3D’s rebirth, giving us what we now have today (12-14). 3D Glasses There are two most commonly used types of 3D glasses: anaglyph and polarized. Anaglyph process uses colors to encode depth, thus it can be presented with a single color print and red and blue-filtered glasses (Kennel 157). These glasses would filter out red on one lens, and blue on the other lens, creating the 3D effect similar to that in binocular vision. Anaglyphic encoding is the cheapest of all 3D systems, the most largely distributed and available, and efficient in black-and-white 3D used in depth placement and correction (Mendiburu 56). Modern types of 3D glasses are polarized glasses, nowadays used in films as well as in theme parks and rides. When using these types of glasses, â€Å"two images are projected through different polarization filters onto a surface that reflects the light toward viewers, keeping the polarization of the incoming light (mostly) unmodified† (Mrak, Grgic, and Kunt 394). Polarized glasses have been adjusted according to linear or ci rcular polarization, where the latter is preferred in order to see the same image quality despite head position changes of the viewers. An advantage of this type of glasses is its ability to block the bright glare of horizontally polarized light by transmitting it to the surface and permits vertically polarized light, which are weaker, to pass (Raymer 254). 3D Films as Gimmick Audiences are important because they are the reason a film is made, and audience size and reaction often convey the success or failure of a media product (Rayner, Wall and Kruger). In viewing media as a source of entertainment, it has given us a number of innovations that would change our media experience, particularly with the invention of film and the genius of television. In this point, 3D film viewing is presented as merely a gimmick, and not as a necessity in order to create an extraordinary movie experience that surpasses 2D. As mentioned

Investigating the Relationship between Academic Persistence and Age, Dissertation - 1

Investigating the Relationship between Academic Persistence and Age, Gender, Ethnicity and Transfer Credits - Dissertation Example Adult Learner Academic Persistence According to previous reports, the retaining of adult learners in programs and institutions on adult education has become a great challenge. The rates of attrition and pressures of accountability within these institutions are also very high according to Jeffreys (2012). The previously carried out pieces of research show that most adults who withdraw from these learning programs do so after accomplishing their goals. They reportedly leave to join other programs that suit them more. According to Sanders, most of the adults dropping out of school return after their situations have been altered creating cycles between their dropping out and return which happens severally (2008). Previous literatures additionally indicate that the process of utilizing the class and lecture a major measurement of persistence undervalues other activities that would be effective in learning and which should be encouraged. This includes activities like distance learning and personal studies. In the year 2009, Comings, Parrella & Soricone, defined persistence as that period that adults remain in adult learning programs as they engage in personal studies as a result of being forced by circumstances leading to their withdraw from attending lectures or classes. The author additionally suggests that the adult students may return to their lectures when their situations in life allow them to. According to previously carried out surveys among adult students who were studying in America, those who had previously been involved in vocational training, self study and other forms of learning, had a greater likelihood of persisting academically than their counterparts who had not been involved in similar activities (Jones, 2008). These surveys additionally show that the adult students who had specific wants had greater probabilities of persisting than those adults who were in the learning institutions but had no specific wants. According to Sanders, if the academic persistence of adult students has to be improved, the learning institutions should avail additional learning alternatives like distance learning to the adult learners who are no able to attend their scheduled lectures (2008). Learner centered perspectives can greatly help in supporting the academic persistence and understanding among the adult learners by managing the forces that hinder or advance their learning activities (Millar, & So, 2008). According to previous literature, several factors are responsible for affecting the academic persistence among adult learners and range from the different institutions, situations, dispositions, and demographic factors and emotional and relational forces (Quigley, 2008). Problems that arise from the adult learner’s employment, finances, families and abuse from their classmates, transport and health can be classified as being situational. On the other hand, institutional barriers prevent adult learners from persisting academically and c ould include issues like the level or content of the course, their location or failure to meet the set admission guidelines (Ziegler & Durant, 2009). The attitudes, self-efficacies and resilience among the adult learners towards their learning may prevent them from excelling in their chosen academic

Kamias Soap Essay Example for Free

Kamias Soap Essay The researcher asked 10 respondents; 8 teachers, 1 laboratory technician and 1 housewife to test and evaluate the product. The respondents were asked to used the product and observe its effect on their skin. After enough days, they were asked to answer survey questionnaire which pertains to the product. They were asked to evaluate the product based on certain criteria which aim to answer the problem of the researcher. Through the data provided by the respondents, the researcher was able to interpret the results and draw conclusions. The researcher found out the abundance of Kamias fruit at home and nearby places. She then thought of what else to do with the fruit aside from its published uses. She decided to make the fruit extract as an ingredient in making dish washing liquid and presented it to her adviser. After several attempts, the researcher failed, but fortunately and accidentally observed the bleaching effect of the extract. She had decided to research about the contents of the fruit and found out that it contains oxalic acid. The researcher decided to switch the study on making a bleaching soap out of the extract. The researcher worked on the laboratory and made samples of soap using the raw materials (kamias extract and decoction of lemon grass and calamansi leaves). The researcher distributed samples of soap and let the respondents try the soap. The respondents answered certain questions that pertain to the product. After gathering the data from the respondents, the researcher interprets the data, made tables and draw conclusion.

The Beveridge Report of 1942: Aims and Impact

The Beveridge Report of 1942: Aims and Impact (The Making of the Welfare State, 1942 1951) Examine the extent to which the AIMS of the Beveridge Report of 1942 had been achieved by 1951. From the Cradle to the Grave In 1941 the wartime coalition government ordered Sir William Beveridge[1] to write a report suggesting policies that could be implemented to assist people on low incomes in the United Kingdom. In December 1942 Beveridge published his findings in his Report to Parliament on Social Insurance and Allied Services.[2] The Report proposed that people in employment should pay a proportion of their pay into a fund which would then be distributed in the form of benefits paid to people who were unemployed, sick, widowed or retired. Essentially, Beveridge argued for a comprehensive system of social insurance from cradle to grave. Beveridge reasoned that this system would establish a minimum standard of living ‘below which no one should be allowed to fall’. His proposals proved immensely popular among the British public and his suggested reforms were introduced by the Labour Government that was elected by a landslide vote (after adopting the objectives of the Beveridge Report in its manifesto)[3] at the end of World War II in 1945. The period under discussion in this paper extends from publication of the Beveridge Report to the end of the post-war Labour Government, which was led by Clement Attlee. The principle aims of the Beveridge Report were addressed to counter the five so-called ‘giants’ of illness, ignorance, disease, squalor, and want. The Report considered the broad question of social insurance, contending that social ‘want’ could be met by a state organised system of social security for the benefit of individual citizens. Beveridge proposed the establishment of family allowances, a national health service, a scheme for national insurance and assistance, and lobbied for policies to secure full-employment. The Achievements of the Beveridge Report Attlee’s Government introduced three acts of key significance and others that proved instrumental in pursuing the aims of the Beveridge Report. The 1946 National Insurance Act, implemented the Beveridge scheme for social security creating a comprehensive system of unemployment, sickness, maternity and pension benefits funded by employers, employees and the government. It is submitted that the Act represents a significant reforming achievement on any given set of criteria. By June 1948, prominent Labour Minister of Health Aneurin Bevan had steered the National Health Service Act through Parliament and into force. This legislation provided the British public with free diagnosis and treatment of illness and disease, in hospital and at home, and also made comprehensive dental and ophthalmic services available. Again, it is argued that this Act constitutes an important achievement for the Beveridge agenda, indeed, with the benefit of hindsight and from the full perspective of 2005, it is hard to overstate its significance. The 1948 National Assistance Act was the third of the key Acts inspired by Beveridge. The Act abolished the Poor Law and made provision for welfare services, enacting a raft of measures designed to relieve poverty in the United Kingdom. All three of the above Acts entered into force on the same day, 7th June 1948. The 1948 Children Act was another important reform inspired by Beveridge. This Act established a childrens committee and a childrens officer in each local authority adding, it is submitted, an important perspective to the Beveridge agenda. Full employment also became government policy as a consequence of Beveridge. This goal has never been sustained for any long period, but it is submitted that it is unfair to judge Beveridge by the success or failure of this aspiration, given that so many socio-economic factors impact on the level of employment. Together, the achievements of Beveridge created a welfare state for the United Kingdom: a system of social security guaranteeing a minimum level of income, health and social services for all. Returning to office in 1951 under Churchill, the Conservative Party pursued an agenda of pragmatic social modernity and accepted almost all of the social reforms, including all the key reforms, instituted by the former Labour government. This demonstrates that not only had the Beveridge Report achieved its primary objectives, but also that it had engineered a shift in the political norms and received social wisdom of the country. Concluding Comments Although securing almost one and a half million more votes than the Conservatives, Clement Attlee’s Labour Party, as stated above, narrowly lost the 1951 General Election. However, it is argued that the post war period of Government was by most measures a great success. Vigorous reform based largely around the model established by Beveridge was achieved. The goal of full employment has and will probably remain an elusive one for the foreseeable future, but great strides were taken during the period under review and the social superstructure of the United Kingdom changed out of all recognition and for, it is submitted, the better. It is a testament to the influence and success of the Beveridge Report that some forty years after its publication, Margaret Thatchers Conservative government in terms of its political stance poles apart from Beveridge and Attlee which as a consequence opposed many of the principles behind Beveridges work, recognised his report as by any measure a landmark in a white paper on social security reform[4]. In summary it is submitted that the British welfare state of 2005 is recognisably the progeny of Beveridge. This grand social system retains all the basic characteristics of the system created by the Labour Government between 1945 and 1951.[5] Thus it can be claimed that the Beveridge Report achieved many of its aims, and, moreover, that those achievements have stood the test of time and proved both durable and effective. Beveridge deserves a place of prominence in the political pantheon of the twentieth century. In terms of his lasting influence on modern Britain, it is arguable that he surpasses even his far more famous political contemporary Churchill. The following quote strikes an appropriate closing note. â€Å"The welfare state, arguably the greatest achievement of European civilisation in this century.† Marquand, 1997. p127[6] BIBLIOGRAPHY Report to the Parliament on Social Insurance and Allied Services (Cmd. 6404) London: HMSO, 1942 ISBN: 0108502767 George V. and Wilding P. (1999) British Society and Social Welfare, London, Macmillan. Marquand D. (1997) The New Reckoning, Cambridge. Polity. The National Archives: http://www.nationalarchives.gov.uk/ 1 Footnotes [1] (1879-1963). [2] (Cmd. 6404) London: HMSO, 1942 ISBN: 0108502767. [3] It should be noted that the Conservative Party also supported much of the Beveridge Report. [4] See for comment: http://www.nationalarchives.gov.uk/pathways/citizenship/brave_new_world/welfare.htm [5] George V. and Wilding P. (1999) British Society and Social Welfare, London, Macmillan. [6] Marquand D. (1997) The New Reckoning, Cambridge. Polity.

Chapter Two: Design

Chapter Two: Design 2.1 Chapter Overview This chapter presents a summary of the the review of literature regarding the subject of design and captures various aspects and thoughts on this. Various thoughts, process and research particularly related to the design process are explored. This chapter encompasses the definitions, characteristics, discussions and applications of design. It is intended that this chapter should give some clear background on the understanding of the design process and its development in todays world of design research. While the literature review provides a useful background of current research in the material, process and RM systems, the literature available on the design aspect for RM products is severely limited. First a review of the literature for definition of the term design is presented. A discussion of the act of designing then follows. Next, the type of knowledge associated with design has been discussed. Finally, various thoughts of process of design have been reviewed. This introduction should provide the reader with a context for interpreting the remaining chapters of this report. The full version of this chapter can be referred to Appendix 3. 2.2 Chapter Summary Design is a complex activity, involving artefacts, people, tools, process, organisations and the environment in which this takes place. This chapter has explored and discussed the subject of design and captures various aspects and thoughts on this. Various thoughts, process and research particularly related to the design are explored. However, the assumption that there exists a set of universally accepted design process is an area that can be further explored. Conclusively, design is seen as a possible but subjective process. This leads to different sets of interpretation being used by different researchers. Whilst there may be some dispute about the precise definition of the term design, it is recognized as a purposeful and creative activity. In summary, design seeks to create things with the purpose of satisfying certain requirements in new ways that improves the quality of lives. In product design, a variety of requirements must be considered ranging from functionality and usability to pleasure. However, design is more than just translating a set of requirements into a product. Also, and more importantly, it involves finding new requirements. Thus, design involves finding problems and solutions simultaneously, and this is where creativity is important. Designing a product involves a constant decision making process that includes problem solving in a sequential fashion and analysis of constraints at each step. Product designers conceptualize and evaluate ideas, making them tangible through products in a more systematic approach. The role of a product designer encompasses many characteristics of the marketing manager, product manager, industrial designer and design engineer. The role of the product designer combines art, science and technology to create tangible three-dimensional goods. This evolving role has been facilitated by digital tools that allow designers to communicate, visualize and analyze ideas in a way that would have taken greater manpower in the past. (This appears in identical form in Wikipedia!) A number of formal structures and frameworks to better understand the design process have been suggested from many different disciplines by many researchers. Most of them have converged upon the general form proposed by Pahl and Beitzs. Pahl and Beitz (1996) outline a model of the design process for mechanical design that considers not only the sequence of stages, but also what the output of each stage. They divided the design process into four phases that includes planning and clarification of the task, conceptual design, embodiment design and detail design. However, this research is concern with the understanding of the design process for Rapid Manufactured products. One of the objectives is to understand how the design process works and how it is learned and performed by professional and expert designers. The aim of the research is to support the design process with the aid of computers. Finally, this chapter has given some background on the understanding of the design process and its development in todays world of design research. Chapter Three: Computer Support Tools for Design 3.1 Chapter Overview This chapter presents an overview of various tools to generate CAD models for RM processes and the decision support systems, tools and techniques used to support the design process. The full document of this chapter can be referred to Appendix 4. 3.2 Chapter Summary Computational tools play an essential role in providing support for the designer, because of their speed and capability for handling huge amounts of information at fairly low costs. There are various methods to aid designer to generate CAD models such as CAD softwares, reverse engineering and haptic devices. CAD traditionally refers to computer tool to visualize, describe, edit and test manufactured artefacts, which are now an essential part of all manufacturing and production processes. CAD systems often involves more than just shapes. CAD has evolved to incorporate several other applications of computer integration with engineering, manufacturing and simulation. CAD now offers the capability of freeform surface modelling and solid modelling operations that allows user to create almost any complex geometry and photo realistic rendered images. Reverse engineering is an important tool to generate CAD models. To reverse engineer a part, the part is measured by a coordinate measuring machine (CMM) or a 3D laser scanner. The use of reverse engineering technology not only increases the overall accuracy, but also improved the productivity of manufacturing process. There are various areas of applications of haptics devices. In manufacturing, haptics can assist design for assembly and for rapid design and prototyping. In computer-aided design, designers can experience real time details with their hands, such as wanted or unwanted artefacts of a design which are difficult to display visually. It is also possible to assess human maintainability of complex systems before they are built . The increasing power of computer has lead to the development of software, tools and techniques to support the design activity particularly to make design decisions. Most of the decision support tools are related to the knowledge base systems or often called as expert system. Expert systems are computer programs that are derived from a branch of computer science research called Artificial Intelligence (AI). AIs scientific goal is to understand intelligence by building computer programs that exhibit intelligent behaviour (Boyle 1989). It is concerned with the concepts and methods of symbolic inference, or reasoning, by a computer, and how the knowledge used to make those inferences will be represented inside the machine. The main characteristics of the Expert Systems can be briefly described as: reduced decision making time, enhancement of problem solving capabilities, a capture of limited expertise and its diffusion, an increased output, productivity and quality; accessibility to know ledge, ability to work with incomplete information and provision of training(Ziemian, Crawn 2001). There are several methods used to support the decision making process such as Case-Based Reasoning (CBR), fuzzy logic, Artificial Neural Network, Rule Base System and Ontology. CBR is a problem solving technique based on the adaptation of previous examples that are similar to the current problem(Maher, Balachandran Zhang 1995). An Artificial Neural Network (ANN) is an information processing paradigm that is inspired by the way biological nervous systems, such as the brain, process information (Moridis, Economides, 2009). Fuzzy are developed using the method of fuzzy logic, which deals with uncertainty. This technique, which uses the mathematical theory of fuzzy sets, simulates the process of normal human reasoning by allowing the computer to behave less precisely and logically than conventional computers (Shu-Hsien Liao 2005). Rules are probably the most common form of knowledge representation and they are present in most Artificial Intelligence (AI) applications such as Expert Systems and Decision Support Systems (Obot, Uzoka 2009). Rule base system uses rules as the knowledge representation for knowledge coded into the system i.e. knowledge is stored as rules. Rules typically take the form of if then statement. Ontology in both computer science and information science is a formal representation of a set of concepts within a domain and the relationships between those concepts (Shu-Hsien Liao 2005). Ontology is a system of vocabulary, which is used as a fundamental concept for describing the task/domain knowledge o be identified. This vocabulary is used as a communication basis between domain experts and knowledge engineers. On the other hand, there are a number of selection tool for RP system has been developed since 1993 (Masood, Soo 2002). The selection of the most suitable RM process is dependent on factors such as build envelope, accuracy, material, build speed and other machine related parameters. This chapter has explored and discussed the general overview of the various tools to generate CAD models for RM processes and the decision support systems, tools and techniques to support the design process. Various CAD data development systems and tool have been explored. Furthermore, various expert systems technologies that support the decision making process have also been explored. Conclusively, CAD and reverse engineering technology are the most well known CAD data development systems. In addition, expert systems are the most well known decision support tool that have been used for various applications. Having become widely used for a broad range of applications, some elements of an expert system could be considered to have the capability to be a design aid tool that could realise the DfRM tool. In the context of design support systems for RM technologies, due to the direct manufacturing of products from CAD data, the cost and time are low mainly because complex objects can be generated without the use of conventional machines. So far within the RM field little attention has been given to the product design phase, emphasis is normally on the development of the technology itself (processes, materials, building strategies, system selection, manufacturing parameter optimisation etc). On the other hand the operation and choices which take place during the design phase are crucial for the quality of the product produce.

Bullying in Schools Essay -- Violence Crime Essays Education Kids Pape

Bullying in Schools Many people feel that some of the major issues that plague our schools are drug/alcohol use or violence, yet no one recognizes the significance of school bullying. For the victims of bullying, they go to school everyday facing harassment, taunting, and humiliation. For all potential educators, it is very important to realize that bullying is a problem, so that they can work to prevent it in the future. Since being at Middle School, I have realized how prevalent bullying is on a daily basis. In addition to reading various sources, I decided to ask some of my students about the bullying they experience or witness in their own school environment. I felt learning about bullying directly from the students would be an invaluable experience. Bullying is most common in middle school, with 6th graders on the receiving end the most and 8th graders handing out the most bullying. In a study of 15,686 students in 6th through 10th grade in private and public schools, it was found that 13-23% of boys and 4-11% of girls experience some sort of bullying. (Nansel 2003). Nearly one in six children in that age range fall victim to bullying each year, which means about 3.2 million children being bullied. Whereas, 3.7 million children are acting as bullies (Kerlikowske 2003). Six out ten children witness some form of bullying on a daily basis. In schools, bullying most likely takes place on the playground, followed by the classroom, then the hallways (Drake 2003). For the students at Dunn Middle School, a lot of the bullying occurs out of school. If it occurs in school, most students said bullying occurs in the hallways or in the lunchroom. One student even mentioned a fight that took place during an as... ...ee of bullies can accomplish many things. All children can benefit from lessons about treating each other with respect. Bullying is one childhood memory no youngster should have. References Bullies and their Victims. Harvard Mental Health Letter. 2001, 4-7. Drake, J. Teacher preparation and practices regarding school bullying. Journal of School Health. 2003, 347-356. Espelage, D. Schoolroom torment. People. 2/05/2001, 91-92. Feldman, S. Bullying prevention. Teaching PreK-8. 2004, 6. Kerlikowske, G. One in six students fall prey to bullies. Inside School Safety. 2003,6-9. Nansel, T. Bullies found to be at risk for violent behavior. Inside School Safety. 2003, 1-4. Rubin, R. Study: Bullies and their victims ten to be more violent. USA Today. 4/15/03 Svoboda, E. Everyone loves a bully. Psychology Today. 2004, 1-20.

The Cuban Revolution Essay examples -- Cuban History, Fidel Castro,

After year of recruiting, training, plotting, Fidel was ready to launch his revolutionary offensive. â€Å"His rebel ‘army’ consisted of less than 200 men, and two women;† (Huberman 1960: 28) the group consisted of students or graduates, and nearly all of them were young people like himself and his brother, Raà ºl. Most of them were â€Å"politically active, articulate and impatient young men who had been drawn to the radical movements or to the ardently reformist Orthodox Party of Eduardo Chibas.† (Macgaffey 1962: 275) The rebels gathered outside Santiago, in the Fidel’s native Province of Oriente where they could launch an attack on Moncada Barracks, the army’s second largest military installation. (Huberman 1960: 28; Macgaffey 1962: 275) The attack was slated for July 26, 1953, at dawn, during the annual carnival celebration. (McCormick 1998: 67) â€Å"With the carnival in full sway, Castro expected the military to have its guard down.† (Leonard 1999: 9) At dawn of July 26, they divided into small groups to launch the assault, each group with specific objectives. The first intention was to â€Å"take by the surprise and capture the Fort Moncada, and take machine guns, tanks, armored trucks, up-to-date rifles and ammunition.† (Huberman 1960: 28) They could then seize radio stations, (Hampsey 2002: 95) and â€Å"They were to announce a revolution based on ‘Creole values,’ (Goldenberg 1965: 151) led by new men ... free of all obstacles with foreign nations and ... of appetites of politicians. They promised welfare and economic prosperity, social justice, respect for other nations, and respect for the constitution.† (Macgaffey 1962: 275, 276) â€Å"Such publicity was designed to call the people to revolt against the dictator, Batista,† (Hampsey 200... ... arrange a Military Junta.† (Goldenberg 1965: 163) However, before the plan could be put into operation, ‘the battle of Santa’ Clara took place, ending in a total fiasco for government troops.†(Goldenberg 1965: 163; Macgaffey 1962: 293) On the night of December 31, Batista and his collaborators fled to Dominica Republic. (Macgaffey 1962: 293) Immediately, Fidel called for general strike and subsequently, other major cities surrendered and Fidel and his rebels marched to Havana. (Goldenberg 1965: 163; Macgaffey 1962: 293) â€Å"Before the dawn on January 2, Fidel’s army marched into Santiago, and accepted unconditional surrender of Batista’s forces at Moncada.† (Goldenberg 1965: 163) The war was over and Fidel and his victorious army rode in triumph from one end of the island to the other and arrived in Havana on January 8. (Goldenberg 1965: 163; Macgaffey 1962: 293)

Conflicting Cultures in Louise Erdrichs Captivity Essay example -- Lo

Kidnapping colonists during the struggle for land in the early centuries of American history was a strong force influencing the images of Native Americans circulating among the Puritan pioneers. During these centuries, the battles between the natives and the Puritans cost thousands of lives on both sides, and countless stories in the forms of captivity narratives revealed truths and myths about the Native people. Although there were countless pieces of literature and propaganda published in this time period, the actual Indian captivity narratives have been narrowed down to works â€Å"that presumably record with some degree of verisimilitude the experiences of non-Indians who were captures by American Indians† (Derounian-Stodoloa, Levernier, 9). Through such a narrative by Mary Rowlandson, who was taken captive by the Wampanoag tribe in 1676, the contemporary writer and poet Louise Erdrich shows another side of history that could not have been expressed by the surviving captiv es hundreds of years ago. That recreation is her poem, â€Å"Captivity,† which uses the inner conflict of the captive woman to express both historical feelings of Native Americans and their place among whites, along with Erdrich’s conflicts within her own life.# Coming from a mixed family, with her mother being part Native American, Erdrich experiences a pull from both her European history and Native American heritage. Through her poem, â€Å"Captivity,† Erdrich exposes the inner conflict that is felt by both historical women and herself, such as the conflicting feelings and cultural pulls of the two societies through sharing experiences of removal from their known worlds and returns to the white man’s society. In order to fully understand Erdrich’s interpretation... ...rk, 1993. Erdrich, Louise. â€Å"Captivity,† in Kelly, Joseph ed. The Seagull Reader: Poems. Norton and Company: New York, 2001. Fast, Robin Riley. â€Å"Resistant History: Revising the captivity Narrative in ‘Captivity’ and Blackrobe: Isaac Jones.† American Indian Culture and Research Journal. 23:1 (1999) 69-96. Logan, Lisa. â€Å"Mary Rowlandson’s Captivity and the ‘Place’ of the Woman Subject.† Early American Literature. 28 (1993) 255-277. Namias, June. White Captives: Gender and Ethnicity on the American Frontier.University of North Carolina Press: Chapel Hill, 1993. Vaughan, Alden T. â€Å"Early English Paradigms for New World Natives.† American Antiquarian Society. 102:1 (1992) 33-67. Woodard, Maureen L. â€Å"Female Captivity and the Deployment of Race in Three Early American Texts.† Papers on Language and Literature. 32:2 (1996)

Regent Park

Chapter 7 Essay Q’s 1. ABC Corporation, a Canadian firm, wants to float a bond issue in the United Kingdom. Which choices does the company have? Discuss the main characteristics of each option. What do you recommend? Answer: ABC Corporation can issue foreign bonds (Bulldogs) or Eurobonds. Foreign bonds are bonds issued by a foreign borrower in a national market, in the national currency, and subject to the national securities regulations. Eurobonds are bonds sold in countries other the country that issued the denominating currency.Foreign bonds tend to be registered bonds and subject to the local regulations while Eurobonds tend to be bearer bonds. Generally, foreign bonds are more costly than Eurobonds. Therefore, Eurobonds are likely the better option. page: 157-158 2. A- Canada Inc. has issued a dual-currency bond that pays $555. 10 at maturity per SF1,000 of par value. The company’s cash flows are exclusively in Canadian dollars. a) What is the implicit $/SF exchang e rate at maturity? b) Will the company be better or worse off if the actual exchange rate at maturity is $0. 6123/SF? Answer: a) $555. 10/SF 1,000 = $ 0. 5551 b) The company will be better off.Page: 175, problem 3 3. ZZZ Corp. wants to issue zero-coupon bonds with a 10-year maturity. The implied yield to maturity on these bonds is 5% and ZZZ Corp. wants to raise $10,000,000. (Assume no transaction costs). How much money will ZZZ Corp. have to pay at maturity of the bond? Answer: 10,000,000 (1. 05)10 = $16,288,946. 27 4. Assume Bank of Montreal has two zero-coupon bonds outstanding, each for a face value $100,000,000. Bond A matures in 10 years and sells at a discount of 35% off face value and bond B matures in 20 years and sells at a discount of 60% off face value. Calculate the implied yield to maturity of each bond.Answer: Bond A: 650,000,000(1 + i)10 = 100,000,000 i = 4. 4% Bond B: 400,000,000(1 + i)20 = 100,000,000 i = 4. 67% 5. What happens to the present value of the bonds in 4. , if the implied yield to maturity increases by 1%? Answer: Bond A: 100,000,000/(1. 054)10 = 59,100,872. 35 The present value of the bond decreases by 65,000,000 59,100,872. 35 = 5,899,127. 65 Bond B: 100,000,000/(1. 0567)20 = 33,186,836. 18 The present value of the bond decreases by 40,000,000 33,186,836. 18 = 6,813,163. 82 Chapter 8 [Question] 1. Assume that Nestle shares are trading at SF 300 in Zurich and $ 51 in New York. Each share equals 4 ADRs.The current exchange rate is SF1. 5/$. In the absence of transaction costs, can you make an arbitrage profit? Answer: Yes. Buy one share in Zurich for SF 300 or $ 200 (300/1. 5), exchange to ADRs and sell the ADRs for 4*51 = $204; profit $4 [Question] 2. Assume that Nestle shares are trading at SF 300 in Zurich and $ 51 in New York. Each share equals 4 ADRs. The current exchange rate is SF1. 5/$. If transaction costs are $1 per ADR, can you make an arbitrage profit? Answer: No, transaction costs = potential profit Potential profit in the absence of transaction costs: Buy one share in Zurich for SF 300 or $ 200 (300/1. ), exchange to ADRs and sell the ADRs for 4*51 = $204; profit $4 [Question] 3. What factors go into the decision to cross-list on a foreign exchange? Answer: When deciding whether to cross-list shares on a foreign exchange, the firm has to consider the expected benefits and costs. The benefits may be: to establish a broader investor base for its stock, to establish name recognition in foreign capital markets, thus paving the way for the firm to source new equity and debt capital from investors in different markets, and to expose the firm’s name to a broader investor and consumer groups.The costs include: listing fees, reconciliation of the accounting standards of two countries, compliance with the regulations of the foreign exchange, and investor relations. page: 187. [Question] 4. Assume that Accor shares are trading at A$2. 5 in Sydney and $28 in New York. Each ADR equals 20 shares. The current exchange rate is A$1. 5/$. In the absence of transaction costs, can you make an arbitrage profit? Answer: Yes. Buy one ADR in New York for $28 (or A$42), exchange to shares and sell the shares for A$50; profit A$8 [Question] 5. Assume that Accor shares are trading at A$2. 5 in Sydney and $28 in New York.Each ADR equals 20 shares. The current exchange rate is A$1. 5/$. At what transaction cost per share would there be no profit opportunity? Answer: A$8/20 = A$0. 4 Buy one ADR in New York for $28 (or A$42), exchange to shares and sell the shares for A$50; profit A$8 less transaction cost of 20*. 4 = A$8; profit = 0 Chapter 9 – I don’t believe there will be anything from here tho Chapter 10 [Question] 1. The following information is given: Both parties want to engage in an interest rate swap. Assume that S Bank will arrange for an interest rate swap between X Company and Y Company for 0. % . Also, assume that X Company gets 2/3 of the interest savings available. a) Which company has a better credit rating? b) What is the quality spread differential? c) What is X Company’s preferred type of debt? What rate of interest does it pay on this debt after the swap? d) What is Y Company’s preferred type of debt? What rate of interest does it pay on this debt after the swap? e) Illustrate the cash flows from this swap. Assume that X Company pays LIBOR to S Bank. Answer: a) X Company b) QSD = 2 1. 3 = 0. 7 c) Floating LIBOR . 4 d) Fixed 6. 8% e) [Question] 2.The following information is given. ABC Inc. and XYZ Inc. have agreed to swap their debt payments so that each firm gets its preferred debt terms. They can arrange an interest rate swap through Big Bank. Big bank charges 0. 15% for its services. The remaining savings from the interest rate swap are equally shared by A and B. QSD: 1% . 25% = . 75%; after bank fees: . 75% . 15% = . 60% savings available a) Does ABC Inc. prefer fixed or floating rate debt? What rate does it pay on its p referred debt? b) Does XYZ Inc. prefer fixed or floating rate debt? What rate does it pay on its preferred debt? ) What are the total interest savings available in this interest rate swap? d) Which company has a better credit rating? Answer: a) ABC Inc. prefers floating and pays LIBOR + . 2 b) Interest Savings: 0. 6%. QSD bank fees = (6 5) (LIBOR + . 75 LIBOR + 0. 50) 0. 15 c) XYZ Inc. prefers fixed and pays 5. 7% d) Company ABC has a better credit rating [Question] 3. The following information is given. Boeing and Airbus have agreed to swap their debt payments so that each firm gets its preferred debt terms. Each firm will save the same amount in percentage terms. ) Does Boeing prefer fixed or floating rate debt? What rate does it pay on its preferred debt? b) Does Airbus prefer fixed or floating rate debt? What rate does it pay on its preferred debt? c) What are the total interest savings available in this interest rate swap? d) Which company has the advantage in fixed rate debt? Answer: a) Boeing prefers floating and pays LIBOR + 0. 05%. b) Airbus prefers fixed and pays 5. 5%. c) Interest Savings 0. 4%. d) Boeing has the advantage in fixed dollar debt. [Question] 4. ABC Corporation has entered into a 10-year interest rate swap with a swap bank. ABC Corp. ays the swap bank a fixed-rate of 6 percent annually on a notional amount of EUR100,000,000 and receives LIBOR – ? percent. What is the price of the swap on the seventh reset date, assuming that the fixed-rate at which ABC can borrow has decreased to 5%. Answer: PV of a hypothetical bond issue of EUR100,000,000 with three remaining 6 percent coupon payments at the new fixed rate of 5 percent is EUR100,000,000/1. 1576 = EUR86,385,625. 54 PV of the three coupon payments is: (6,000,000/1. 05) + (6,000,000/1. 1025) + (6,000,000/1. 1576) = EUR 16,339,488. 18 PV of the Bond and its coupon is = 102,725,113. 1 Therefore, the price of the swap = 100,000,000 102,725,113. 61 = 2,725,113. 61 [Question] 5. Canada Corporation enters into a 2-year interest rate swap with Bank A in which it agrees to pay the swap bank a fixed-rate of 5 percent annually on a notional amount of US$1,000,000 and receive LIBOR – 1 percent. Determine the price of the swap on the first reset date, assuming that the fixed-rate at which Canada Corporation can borrow has stayed unchanged. Answer: PV of a hypothetical bond issue of US$ 1,000,000 with one remaining 5 percent coupon payments at the fixed rate of 5 percent is US$1,000,000Therefore, the price of the swap = 1,000,000 1,000,000 = 0 Chapter 11 [Question] 1. A US investor bought shares in ABC Inc. on the Frankfurt Stock Exchange 2 years ago for EUR 10,000. The exchange rate at that time was EUR 1. 20/USD. Currently, the shares are worth EUR 11,000 and the exchange rate is EUR 0. 80/$. Calculate the investor’s annual percentage rate of return in terms of the U. S. dollars. Answer: The annual percentage rate of return is: 28. 45%. 2-year rate of ret urn = (11,000/0. 8 10,000/1. 2)/(10,000/1. 2) = 0. 65 (1 + r)2 = 1. 65 r = 0. 2845 [Question] 2. A US investor bought shares in ABC Inc. n the Frankfurt Stock Exchange 2 years ago for EUR 10,000. The exchange rate at that time was EUR 1. 20/USD. Currently, the shares are worth EUR 11,000 and the exchange rate is EUR 0. 80/$. The investor had sold EUR 10,000 (the principal investment amount at the same time that the stock was purchased) forward at the forward exchange rate of EUR 1. 15/$. What is the dollar rate of return? Assume that the unhedged portion of the investment is exchanged at the current exchange rate. Answer: The annual dollar rate of return is 9. 25%. 2-year rate of return = (10,000/1. 15 + 1,000/0. 8 10,000/1. )/(10,000/1. 2) = 0. 1935 (1 + r)2 = 1. 1935 r = 0. 0925 [Question] 3. In May 2003 when the exchange rate was Yen 110/$, Nissan Motor Company invested ? 1,100,000,000 in pure-discount U. S. bonds and liquidated the investment one year later when the exchange rat e was Yen 105/$. The Yen rate of return earned on this investment was 10%. a) Calculate the dollar amount that the bonds were sold at. b) Calculate the dollar rate of return of this investment. Answer: a) The dollar amount that the bonds were sold at is: $11,523,809. 0. 1 = (X*105 1,100,000,000)/1 ,100,000,000) b) The dollar rate of return is:15. 4%. (11,523,809 10,000,000)/10,000,000 = . 1524 [Question] 4. A Canadian investor buys shares in DaimlerChrysler on the New York Stock Exchange when the stock’s price and the exchange rate were US$ 40 and US$0. 70/C$ respectively. One year later the investor sells the shares for US$ 41 and the exchange rate is US$0. 80/$. a) Calculate the investor’s annual percentage rate of return in terms of the U. S. dollars. b) Calculate the investor’s annual percentage rate of return in Canadian dollars. Answer: a) Rate of return: (41 40)/40*100 = 2. 5% b) Purchase price in Canadian dollars = 40/. 70 = 57. 4 Selling price in Canadi an dollars = 41/. 80 = 51. 25 Therefore, the Canadian dollar rate of return is: R(C$) = [(51. 25 57. 14)/51. 25] 100 = 10. 313% Chapter 12 1. How can operating exposure be managed? Answer: The object of managing operating exposure is to stabilize cash flows when exchange rates are fluctuating. There are a number of ways in which operating exposure can be managed: (1) selecting low cost production sites (2) using a flexible sourcing policy (3) diversification of the market (4) product differentiation and R&D efforts (5) financial hedging page: 302-304 [Question] 2.Banff Inc. is headquartered in Calgary and produces high-end living room furniture. The firm has a subsidiary in Germany. The wooden frames of the sofas are made in Calgary by an independent contractor and then shipped to Germany. The German subsidiary then upholsters the sofas using Belgium fabrics. Each frame costs the subsidiary C$1,500. The materials and labour for the upholstery amount to euro 2,000 per sofa. Fixed ove rhead costs are euro 1,500,000 for the subsidiary. Banff Inc. expects to be able to sell 3,000 Sofas for 5,000 euros each. The firm can depreciate 1,000,000 euros per year.The German income tax rate is 40%. The current exchange rate is C$1. 5/euro. How would the operating cash flows (expressed in Canadian dollars) change if the exchange rate is C$1. 6/euro, all else equal? Answer: The operating income would increase by C$340,000. [Question] 3. Banff Inc. is headquartered in Calgary and produces high-end living room furniture. The firm has a subsidiary in Germany. The wooden frames of the sofas are made in Calgary by an independent contractor and then shipped to Germany. The German subsidiary then upholsters the sofas using Belgium fabrics.Each frame costs the subsidiary C$1,500. The materials and labour for the upholstery amount to euro 2,000 per sofa. Fixed overhead costs are euro 1,500,000 for the subsidiary. Banff Inc. expects to be able to sell 3,000 Sofas for 5,000 euros each. The firm can depreciate 1,000,000 euros per year. The German income tax rate is 40%. The current exchange rate is C$1. 5/euro. How would the operating cash flows (expressed in Canadian dollars) change if the exchange rate is C$1. 4/euro, all else equal? Answer: The operating income would decrease by C$ 340,000. [Question] 4. Banff Inc. s headquartered in Calgary and produces high-end living room furniture. The firm has a subsidiary in Germany. The wooden frames of the sofas are made in Calgary by an independent contractor and then shipped to Germany. The German subsidiary then upholsters the sofas using Belgium fabrics. Each frame costs the subsidiary C$1,500. The materials and labour for the upholstery amount to euro 2,000 per sofa. Fixed overhead costs are euro 1,500,000 for the subsidiary. Banff Inc. expects to be able to sell 3,000 Sofas for 5,000 euros each. The firm can depreciate 1,000,000 euros per year.The German income tax rate is 40%. The current exchange rate is C$1. 5/e uro. How would the operating cash flows (expressed in Canadian dollars) change if the exchange rate is C$1. 4/euro, the German inflation rate is 3% but the firm will not be able to raise the price for its products and due to new competition from the Russian market (with a more favorable exchange rate) unit sales drop to 2,500? Answer: The operating income would decrease by C$ 1,276,000. [Question] 5. ABC Inc. , a Canadian paper manufacturer, has a subsidiary in the United States which sources its wood from Canada.The US dollar depreciates rapidly. Discuss the likely competitive and conversion effects of the depreciation of the US dollar. Answer: The depreciation of the US dollar may alter the firm’s competitive position in the US market place. First of all, the input costs of the subsidiary in terms of US dollars are increasing. If the competitors source their raw materials in the United States, the competitive position of ABC Inc. ’s subsidiary will be eroded. The con version effect implies in this case that the US dollar operating cash flows will be translated into a lower Canadian dollar value. page: 297-298Chapter 13 1. Sonnenschein A. G. , a German retailer of solar panels just bought panels for US $ 100,000 to be paid in 120 days. As the financial manager, you are responsible for making a recommendation on the best hedging choice available to Sonnenschein A. G. You check with your banker and find out the following: The spot bid and ask rates are USD 1. 1001/EUR and USD 1. 0953/EUR respectively and the 120-day forward rates are EUR 0. 8850/USD and EUR 0. 8950/USD. Determine the net payables if Sonnenschein uses a forward hedge to manage its payables. Answer: US$ 100,000*0. 8950 = EUR 89,500 Question] 2. Pile-of-Bones Inc. , headquartered in Regina, just bought snowblowers for US $ 100,000 to be paid in 90 days. As the financial manager, you are responsible for making a recommendation on the best hedging choice available to Pile-of-Bones Inc. You check with your banker and find out the following: The current spot rate is C$ 1. 35/US$ and the 90-day forward rate is C$1. 36/US$. The interest rates are 5% in the United States and 6% in Canada. a) What are the net payables if Pile-of-Bones uses a forward hedge? b) What are the net payables if Pile-of-Bones uses a money market hedge? ) Which type of hedge should Pile-of-Bones use? Answer: a) 100,000*1. 36 = 136,000 b) 100,000/(1 + . 05/4) = 98,765. 43 98,765. 43*1. 35 = 133,333. 33 133,333. 33*(1 + . 025) = 136,666. 67 c) Pile-of-Bones should use forward hedge. [Question] 3. Soleil Inc. , a French manufacturer of sunscreen, has agreed to sell sunscreen to a Danish retailer for 2 million Danish kroner to be received in 180 days. The current spot rate is DKR5. 02/EUR and the 180-day forward rate is DKR5. 23/EUR. The current interest rates are 5% in Denmark and 4% in France. Should the firm use a forward hedge or a money market hedge?Explain. Answer: The net proceeds from a forw ard hedge are: 2,000,000/5. 23 = 382,409. 17 The net proceeds from a money market hedge are: 2,000,000/(1. 05) = 1,903,761. 90 1,903,761. 90/5. 02 = 379,434. 64 379,434. 64*1. 04 = EUR394,612. 02 Since the net proceeds from the money market hedge are higher than from a forward market hedge, Soleil should use the money market hedge. [Question] 4. Quebec Inc. , manufactures prefabricated houses in Quebec and sells them all over the world in local currencies. The firm has just received an order from China for renminbi 8,280,000 to be paid at delivery in 1 year.The Chinese renminbi is pegged to the US dollar at an exchange rate of 8. 28 per dollar. Does Quebec Inc have a transaction exposure? Explain. Answer: Quebec Inc is exposed to exchange rate risk. First of all, the Chinese government may choose to change the exchange rate at which the renminbi is pegged or drop the peg altogether within the next year. Even if the government does not intervene, Quebec Inc. is exposed to the US doll ar-Canadian dollar exchange rate since the renminbi is pegged to the US Dollar and not the Canadian dollar. [Question] 5. Fashion Shoes Inc. anufactures its shoes in Milano, Italy. The company just received an order from the United States for USD 1 million to be received in one year. The current spot rate is EUR 1 /USD and the 1 year forward rate is EUR 1. 01/USD. The current interest rates are 4% in the United States and 5% in Italy. A call option on the US dollar is available with a strike price of EUR 1. 01/USD and a premium of EUR 0. 03 and a put option is available with a strike price of EUR 1/USD and a premium of EUR 0. 025/USD. Determine the net proceeds from a forward hedge and an options hedge. Which option should Fashion Shoes use?Answer: Forward hedge: USD 1,000,000*1. 01 = EUR 1,010,000 Option hedge: Use the put option on the USD. Net proceeds from the options hedge: Strike price: USD 1,000,000*1 = EUR 1,000,000 Less premium in year 1 euros: 1,000,000*0. 025(1 + . 05) = 26,250 net proceeds: 1,000,000 26,250 = 973,750. The choice of the hedging strategy depends on exchange rate expectations. The option will provide a minimum of EUR 973,750 but if the dollar strengthens (i. e. the spot rate in one year is greater than EUR1. 03625/USD) the option will provide higher cash flows than the forward hedge.

Factors That Impact on and Influence the Organisation

The vocation surroundings is much an uncertain wholeness, where managers atomic number 18 faced with umteen factors that impact on and becharm the agreement. The micro- environment overwhelms suppliers, customers and stakeholders, tot onlyy of which influence the placement take only. The macro-environment, however, embroils factors that influence the organisation but be out(a) of its purpose control. The micro-environment is very much determined by the labor the organisation operates within. Competition becomes a hyper censorious influencing factor.Johnson et al (2002) states that managers should understand the belligerent forces that pull through between organisations in the identical industriousness beca enforce this provide determine its attractiveness. De Swaan Arons, et al (1999) describe to doormans Five Forces poser as a tool to prise wampum potential within an organisation. These forces include supplier and purchaser tycoon flagellum of substit utes and barriers to founding. At the optic of the five forces is competitive rivalry between organisations in the same manufacture/sector.The level of competitive hostility will be determined by factors such as the number of competitors, fabrication development, high fixed costs, and amount of distinction (De Swaan Arons, et al, 1999, pp 3). According to Harrison (2003), success in the hotel pains is often pop the questiond by being locate near existing hotel properties. This whitethorn be as a result of a tested food foodstuff-place and assurance that if hotels ass profit in that bea, then it becomes an attractive market to defer. Supplier and buyer power are closely coupled due to the resulting kindred they bring in influencing the organisation.Porters Five Forces Framework states that supplier power is high when there is a ingress of suppliers within the same industry. However pursuance the comments of Harrison (2003), several hotel properties within the same geographic area will be competing for customers, often basing their strategy on price therefore the customer has the power to influence the supplier, other than known as buyer power. A high constriction of suppliers in integrity geographic area often results in a saturated market. The Life-Cycle Model highlights the vastness between increase and maturity stages.Johnson et al (2002) illustrate that in market ripening situations, an organisation is likely to achieve growth through the resulting growth of the marketplace. However, when markets are mature, organisational growth can only be achieved by taking market share from competitors. look into conducted within the Swiss Hotel Industry, (Sund, 2004), showed that it had been experiencing a conclusion of stagnation and even decline. Sund (2004) suggests this is due to the submersion of hotel properties in the area as a result of increased international locomotion post-World War II and the increase in hotel chains and franchi ses.In research carried out by Audretsch et al (1996), where the innovative bodily function takes place is a key subscriber to the phase of the industry life cycle. shift reduces demand for a particular shell of product or service. For example, the presence of comprehensive hotel resorts is a threat to small separate Bed & Bedfast establishments. Barriers to entry lie of a number of factors, for example economies of scale, corking requirement, access to distribution channels, experience expected, retaliation, decree/government action, and differentiation (Johnson et al, 2002, pp 115).For the hotel industry, the threat of entry is likely to be high in places where there is a high concentration of hotel accommodation. However some may make out that high concentration may be a reason not to enter the market beca role competition is fierce. According to Harrison (2003), Porters Five Forces feign has limitations in terms of its practical application. Although the five forces a ims to provide organisations with a definition of competitive factors, it does not include an evaluation of other stakeholders equally as great. This may include unions, monetary institutions, the media and local communities.Harrison (2003) withal identifies the importance of political factors. Where micro analysis of the organisation consists of direct factors such as customers, stakeholders and competition, the macro environment considers elements of the environment on a wider scale. The PESTEL model is a useful tool for use in strategic decision making. It consists of political, economic, genial, technological, environmental and legal issues modify drivers of wobble within an organisation. Political factors refer to governments, society or regulators that can take action to influence an organisations per peeance.Political decisions can also affect a follows success and future be after as shown in many warfarefare zone scenarios. A countrys decision to go to war curbs wo rk and thus, hotels, restaurants and tourist attractions suffer. Harrison (2003) quotes the example of the 1991 war in the Persian Gulf. Hotels were left empty until the war ended and travellers felt confident to take chances into that geographic region again. Economic factors include interest rates, taxation mixed bags, economic growth, pretension and exchange rates. These factors can be critical to the success of companies operating within the cordial reception industry.A hotel go with may behave to review its pricing strategy conditional on consumer demand. This relates to Porters forces where buyer and supplier power are linked as a result of where almost(prenominal) of the concentration is. Social factors relate to social trends such as the demand for a companys products and services. Awareness of social factors is also essential in reputation management where a company aims to promote itself as evoke in the values of its customers. Marriott Hotels (cited in Harriso n, 2003), considered societal trends in its development of hovictimization for mickle who may require a form of assisted living.This development was due to Marriotts recognition of the ageing baby-boom era. Technological factors are important to consider when natural markets are being established. New technologies create unused products and new processes. Technological developments can public assistance consumers as closely as the organisations providing the products. In the hotel industry, technology advancement should be centred on customer service and the experience one should expect. According to Connolly et al (2000), the hospitality industry should be preparing for the future by prepare itself for technological advancements.This way, hotel companies will be well positioned to meet the needs of their customers. One of the most popular advances in technology for the hotel industry would be computer advances and the wide use of Internet. Hotels are now expected to have onli ne booking facilities, which are easy to use, demonstrate confidence and assurances for the online customer that their booking has been authorized and processed accordingly. Websites are commonly an organisations first point of equal with potential customers. Therefore, branding and corporate trope is important.Customer relationship management is contingent with the advancement of computer technology. Marketing strategies centre around the potential to follow-up on previous customers hotel stays by offering return offers and discounts for loyalty. The Ritz-Carlton, for example, uses their run across database to maintain customer profiles that details separate tastes and preferences (Harrison, 2003). They also use this technology to step on it up check-in procedures for regular guests. differentiation within the hotel industry is also manageable through the use of technology.Harrison (2003) uses the example of Wingate Inns who attracted business customers by offering free to use, high-velocity Internet in every room. environmental factors such as climate change have the potential to impact on every industry and should be considered as a driver for change. Becoming greener has been a significant change in the caterpillar track of many hotel chains throughout the world. advertize the use of environmentally friendly products and processes is affecting customer demand. This produces to a greater extent business opportunities and creates great supplier power.Legal factors are think to the legal environment in which companies operate. wellness and Safety legislation is a major(ip) driver of change in all industries, especially service-based industries such as hospitality. non only does this affect the companys workforce, it also affects the customer and his/her experience. Hotel owners are concern holders in providing a safe environment for their employees and customers. In the event of an accident or a breach of legislation, a hotel company can incu r substantial penalties, which will ultimately affect future dough and corporate reputation.Analysis of the external environment, using tools such as PESTEL, allows organisations to make important decisions and strategic changes to create competitive advantage. In evaluating growth strategies, an analysis involving suitability, acceptability and feasibleness is vital. Although these models of analysis help organisations to understand the factors that may impact and influence their business strategies, it is also important to understand in more detail what will result in success and failure. One of the many approaches is to perpetrate a SWOT analysis.Another is to post opportunities and threats via strategic gaolbreaks. Johnson et al (2002) refer to this as identifying new market space. strategical gaps are found by looking for across the industry for potential substitutes, new product/service offerings and new market segments. According to Pryce (2001), many hotel operators ar e follow behind other industries with regards to corporate sustainability. look for has suggested that there is a significant gap between attitudes and action (Pryce, 2001), which provides hotel owners with promotional opportunities and drivers for change to capitalise on environmental management.