Options for Implementing a Leadership Change Essay - 1

Options for Implementing a Leadership Change - Essay Example Change of leadership entails huge implications for an organization. For one, this change accompanies a new vision, to where the direction of an organization will be set for a period of time. This change in vision can entail major overhauls within the organization, which include changes in the organizational structure, leadership style of the new leader, processes, etc. Thus, a change in leadership will cause stress within the organization and implementation of this change has to be handled with a smooth transition. Stephen Robbins, in his book Organizational Behavior lists some of the more popular approaches to managing change. But of the three that he mentions, which include Lewin’s classic three-step model of change process, action research and organizational development, Lewin’s model of change is the one most pertinent to a change in leadership, which does not center only on a specific process to be improved or a certain problem that needs to be acted upon like the other two. The first step to managing a change within the organization is to unfreeze the prevailing norms within the company. In order to unfreeze these prevailing norms, or the status quo, overcoming resistance among individuals and conformity among groups is crucial. In Lewin’s model, the shift to a desired state can be done by one of the three: lowering the restraining forces to change; increasing the driving forces to get into the desired state; or both. The change in leadership entails a new vision. And in order to carry out this vision, there are specific steps the new leadership lays out which will be the cause of individual resistances within the corporation. The first alternative is to increase the driving forces. Driving forces usually come in the form of incentive, for employees to accept and comply to change. It may assume other forms, but driving forces

Working Capital Management Essay Example for Free

Working Capital Management Essay 1.1 Background of the Study Finance is a business term which deals with the study of fund management. If finance is to be accepted as weapon which enables an organization to pay its bills promptly it is necessarily linked with the flow of fund. The management may accept or reject a business provision on the basic of financial viabilities .It guides investment where opportunity is the greatest producing relatively uniform yard stick for judging most of a firms operations and projects and is continually concerned with achieving and adequate rate of return on investment as this is necessary for survival and the attracting of new capital. The function of finance involves three major decisions which the firm must make the investment decision, financing decision and dividend decision. An optimum combination of the three will maximize the value of the firm. In other word entire activities relating the finance are done with the help of financial management. So in this area of management there are two main functions firstly to assemble the funds necessary to initiate a new business economically and secondly to provide the basis of continue new operation. â€Å"Financial management may be defined as the part of management which is concerned mainly with raising funds in the most economic and suitable manner, using, these funds as profitable as possible, planning future operation, and controlling current performance and future developments through financial accounting cost accounting, budgeting, statistics, and other means. It guides investment where opportunity is the greatest producing relatively uniform yard stick for judging most of a firms operations and projects and is continually concerned with achieving an adequate rate of return on investment as this is necessary for survival and  the attracting of new capital(kulkarni, 1986: 76) We know that firms aim at maximizing the wealth of shareholders. In its effort to maximize shareholders wealth, the firm should earn sufficient return from the operations. Earning a sound amount of profit requires successful business activities. The firm has to invest enough funds in current assets for the success of business activity. Current assets are needed because sales do not convert into cash immediately. Investment in current assets should be just adequate or not more not less, to the needs of the business firm. It should be realized that the working capital needs of the firm may be fluctuating with changing business activity. This may cause excess or shortage of working capital frequently. The management should be too prompt to begin an action and current imbalance. Thus, the firm should have knowledge of the sources of working capital funds as well as investment avenues where idle funds may be temporarily invested. Thus the study of working capital is of prime importance to internal and external analysts because of its close relationship with the current day to day operations of a business enterprise. Management of working capital in a business enterprise is very important mainly for few reasons. Firstly, an enterprise, must determine the adequacy of investment in current assets, otherwise, it would seriously erode their liquidity base. Secondly, they must select the type of current asset suitable for investment so as to raise operational efficiency. Thirdly they are required to ascertain the turnover of current assets that greatly determine the profitability of the enterprise. Lastly they must find out the appropriate source of funds to finance current assets. It is therefore a recognized fact that any mistake made in management of working capital can lead to adverse affects in business and can reduce the liquidity turnover and profitability of the firms. Working capital management is an important decision making area of financial management of an enterprises. It requires understanding for how to raise and allocated financial resources how to relate Short-term investments, financial decisions to the overall objectives of the firm and how to relate  short-terms financial decisions to certain long term financial decision to certain long term financial decisions .(Upadhyay,1985:40) Working capital management involves the relationship between a firms Short-term assets and its short term liabilities. The goal of working capital management is to ensure that a firm is able to continue its operations and that is has sufficient ability to satisfy both maturing short-term debt up coming operational expenses. The management of working capital involves managing inventories, account receivable, account payable, cash etc. There are two concept of working capital gross concept and net concept. Gross working capital simply called as working capital, refers to the firms investment in current asserts. Current assets are the assets which can be converted into cash within an accounting year and include cash, short-term securities, debits, bills receivables and stock. Net working capital refers to the difference between current assets and current liabilities current liabilities are those claims of outsiders which are expected to return for payment within an accounting year and include creditors, bills payable and outstanding expenses. Net working capital can be positive or negative. A positive net working capital will arise when current assets exceed current liabilities. A negative net working capital occurs when current liabilities are in excess of current assets. (Pandey; 1995: 665) Working capital management is a process of short-term decision making regarding the current assets and liabilities affecting the long term operation of an organization. It is a process of planning and controlling the level and mix of current assets of the firm as well as financing these assets. It includes decision regarding cash and marketable securities, receivables, inventories and current liabilities with an objective of maximizing the overall in due of the firm. In general, the concept of working capital is synonymous with the fund available for meeting day -to- day requirements of a company. But according to a group of authorities working capital refers to the amount of investment  in total current assets only. It means they are supporting the gross concept of working capital. Thus the gross concept of working capital denotes short-term asset only, it does not include short-term liabilities. However, a business can not exist only with the current assets, it needs current liabilities too. Actually, the amount of working capital heaving depends upon the amount of current liabilities. In this sense working capital means the excess of current assets over current liabilities. Meaning of Banks Banks are very important financial intermediaries in financial market. â€Å"Financial intermediaries not only savers but also they create new financial products. They gain economics of scale in analysis of credit worthiness of potential borrowers in processing and collecting lone and minimize cost of information and make easy flow of transactions.(Peter, 1999: 4) Banks are the principal source of credit to house hold, individuals and family business all forms and local units of government Furth more, they are the source of financial information, planning and controlling. â€Å"Banking institution is inevitable for resource mobilization and all-round development of the country. It is resource for economic development; it maintains economic confidence of various segments and extends credit to people. (Ronald, 1993: p 87). Bank deal with money by accepting various type of deposits disbursing loans and investing in productive sectors and rendering other financial services as the primary function. Banks are channels between saving surplus and saving deficit people and thus they are the bridge of utilize scatter fund to productive sectors. Hence, they represent a vital role in the transmission of government economic policies (especially monitory policies) to the economy. When bank credit is expensive, the investment slows down and unemployment rises. Bank deposit represents the most significant component of the money supply used by the public, commercial banks play an important role for economic development of the country as they provide capital for the development of industry trade and business by investing the saving collected as deposits from public. They render various services to their customers facilitating their economic and  social life. About Bank of Katmandu Ltd. Bank of Kathmandu Ltd. (BOK LTD.) is a culmination of a comprehensive vision of the promoters to take the Nepalese economy to a newer realign in the global market. Each promoters of Bank of Kathmandu has successfully demonstrated leadership skill, business acumen and entrepreneurial wants his/her respective field. Bank of Kathmandu came into operation in March 1995, under the commercial bank act 2031 with the following predominant objectives. Identify business prospects not at catered by then existing commercial banks and offer new banking products and services. Introduce modern banking technology facilitating bank and business operations and transactions. Bank of Kathmandu activities globe around deposit mobilizations, Advancement of various credits, International banking including trade financing, inward and outward remittance and funds and portfolio management. The bank has introduced many facilities to the customer. Deposits of unfavorable conditions, the bank has been able to make a substantial marketing of products, expansion of areas and diversification of service using latest technology, which will ultimately, helps it to grow further. Bank of Kathmandu is committed to providing products and service of the highest standards to its customer by understanding their requirements best suiting the market needs. Bank of Kathmandu has been providing any where banking facilities, from which customer can deposit and withdraw from any of nineteen branches including head office. Bank has lunched customer oriented service such as hire purchase, educational loan, housing loan, vehicle loan, festivity loan, foreign employment loan scheme etc. bank of Kathmandu. It’s launched the mobile banking service through SMS. With the aim of providing banking services at the customer fingertips. Bok is starting internet Banking and alert service. BOK is starting internal banking and alert service very soon. Capital Structure of Bank of Kathmandu Independent and Self-Governing board, involving a pool of endowed and farsighted directors, each directors of the board has been recognized and well-acclaimed for his/her contribution in the development and growth of Bank of Kathmandu. Young, seasoned and talented bankers, each with year of banking experience and proven competency, Constitute the management team of bank of Kathmandu. In the present economic scenario the bank has to complete with other existing and new commercial bank of Nepal. It is already established itself as an innovative bank that introduces new modern technology in the banking industry. In short, BOK has made significant contribution to support the countries economic system and development effort. 1.2 Focus of the Study Financial institutions assist in the economic development of the country. The concept of financial institution in Nepal was introduced when the first commercial bank, the Nepal Bank Limited, was established in 1994 B.S as a semi-government organization. In the fiscal year 2039/040, new banking policy was introduced for the establishment of new banks by the joint investment of foreign nations. The establishment of joint venture banks gave a new horizon to the financial sector of the country. Commercial banks are the heart of the financial system, which plays significant role by collecting scattered surplus fund and delaying these funds in the productive sectors as an investment. They hold the deposits of many persons, government establishment and business units. They make fund available through their lending and investing activities to borrowers, individuals, business firms and government establishments. Bank is a business organization where monetary transaction occurs. It creates funds from its client, saving and lends the same to needy person or business companies’ in term of loans, advances and investment. So, proper financial decision making is more important in banking transaction for its efficiency and profitability. Most of the financial decisions of a bank are concerned with current assets and current liabilities. The working capital management of a bank is different from that of other  business enterprises. A bank plays a significant role to fulfill the requirement of working capital of any other type of business enterprises. It also needs efficient management. Investment in working capital of other business enterprises is a part of current assets of banks working capital and we can consider deposits and short term borrowing as a part of current liabilities. So this study is a reference regarding the working capital management. 1.3 Statement of the Problem Working capital management has been regarded as one of the conditioning factor in the decision making issue. The management of working capital is synonymous to the management of short- term liquidity. Working capital is regarded as the life blood and nerve of a business concern and is essential to accommodate the smooth operations of working capital is harmful to an enterprise to achieve its primary objectives, therefore maintaining optimal level of working capital is the cruse of the problem as it is strongly related to the trade off between risk and return. How ever it is difficult to point out as to how much working capital needed by a particular business organization. An organization which is not willing to take more financial risks can go for more short term liquidity. The more of short term liquidity means more of current assets and less of current liabilities. The less current liabilities implies less short term financing heading to the lower returns resulting from the use of more high cost long term financing , so it is very essential to analysis and find out problems and its solution to make efficient use for funds for minimizing the risk of loss to attain profit objective. Inadequate investments in working capital threaten the solvency of enterprise as well as effect its growth. On the other hand, excessive investments in working capital yield nothing. Therefore working capital should be determined in such a way that total cost of liquidity and cost of non liquidity is minimum. Hence the goal of working capital management is to manage the firm’s current assets and current liabilities in such a way that it should maintain satisfactory level. Working capital management of banks is more difficult than that of manufacturing and non manufacturing business organization. Commercial banks are great monetary institutions which are playing important role to general welfare of the economy. The responsibility of commercial banks is more than any other financial institutions. They must be ready to pay on demand without warning or notice, a good share of their viabilities. Banks collect funds from different types of deposits for providing loan and advances to different sector. To get higher return, banks must try to increase funds from deposits as well as their investment. The first motive of banking business is to borrow public saving and lend to needy people. But commercial banks always face the problem for utilizing more deposit as investment fully and productively. The gap between collection of deposits and disbursement of loan increase the cash balance on bank, which require paying its large amount of liability of banks. Some specific problems felt in this study are as follows:- 1. What are the major factors effecting the management of WC in BOK? 2. Which of the current assets are more problematic on BOK? 3. How have the firms been raising the required funds? Is the funds properly and productively utilized or not? 4. What are the components of WC which affect the operating income of BOK? 5. How have the bank been utilizing their debt capital. 1.4 Objective of the Study Research objectives are the guidelines to conducting the research at a right way. The major objective of the study is to evaluate the working capital position of bank of Kathmandu limited. The other objectives of this study are to throw light on the importance of the proper management of working capital and to make suggestion about how to manage working capital of bank of Kathmandu limited from the long rage view point. The specific objectives of the study are as follows: 1. To indicate liquidity position in current assets of bank of Kathmandu limited over the year. 2. To point out the position of current liabilities and assets of bank of Kathmandu limited over the year. 3. To analyze the need to control investment in working capital in bank of Kathmandu limited. 4. To make suggestion about removing any obstacle in making decision regarding management of working capital and to point out  alternating solution for maximizing the profit . 1.5 Significance of the Study Working capital is the size of investment in each type of current assets, each of the current assets should be managed efficiently an effectively. It is because decision regarding working capital affects not only the profit ability of the firm in the short term but also its very survival in the long run. The management of working capital should not be neglected by enterprises otherwise they will seriously erode their financial viability. As the commercial bank in Nepal are exacting greater and greater influence in the economy of the country and effective and efficient management of their current assets is needed to better the profitability of the firm. The need of the study like this arises from the real nature of the banking business and also forms the impact that it has economy of the country because the business of banks is to accept deposits and advanced loans, and the label of deposits and loans depends upon the working capital policy the study of this type will be most importance for the bankers, the economists and the public at large. It provides the literature to the researcher who wants to carry on further researcher who wants to carry on further research in this field. Therefore, it has been felt very necessary to evaluate the position of working capital management and to focus on the importance of the capital management in bank of Kathmandu limited. 1.6 Limitations of the Study None of the study can go beyond the boundary of some limitations and this study is also not an exception. The scope of the present study has been limited in terms of period of study as well as sources and nature of data. The following are the major limitations of the study. 1. This study is considered only bank of Kathmandu limited and based on secondary data. 2. This study focused on working capital management of bank of Kathmandu limited only. Thus the findings of the study may not be applicable for other bank so the study cannot judge other financial aspects of the bank. 3. Only main financial tools and statistical tools are employed for analyzing the working capital management. 4. The study only covers the period of five  fiscal years from 2059/060 to 2063/ 064. 5. This study is basically done as the requirement for the partial fulfillment of masters of Business studies (MBS) of Tribhuvan university (T.U.) 1.7 Organization of the Study The study has been divided into five chapters. They are as follows:- 1. Introduction The first chapter deals with introduction, background of the study, limitations of the study and organization of the study. There fore, this chapter is for brief introduction of the topic and it highlights the fundamental objectives. 2. Review of literature The second chapter deals with the review of related literatures and available studies Written and prepared by different experts and researcher in the field of working capital. 3. Research Methodology The third chapter presents the research methodology used in the study. It deals with research design, population and sample. Nature and sources of data date processing procedure, tools and techniques of analysis. 4. Presentation and Analysis of Data The fourth chapter is the main part of this research that deals with the presentation analysis and interpretation of data. Different types of tools and technique have been used to analyze the available data in order to achieve the set objectives. 5. Summery, Conclusion and Recommendations The fifth chapter presents the summary and conclusion of the study based on the analysis of data and also provides recommendation for the improvement of working capital management of bank of Kathmandu limited. CHAPTER- 2 Review of Literature This chapter is concerned with the review of relevant literatures available in the books, journals articles research reports, newspapers, magazines, policy documents which are published or unpublished. Every study is very much based in past knowledge study and experiences. The past knowledge or the previous studies should not be ignored as it provides foundation to the present study various thesis works have done indifferent aspects of working capital of different organization are also review for the purpose of justifying the study . 2.1Conceptual Framework The management of the funds of business can be described as financial management. Financial management is mainly concerned with two aspects. Firstly, fixed assets and fixed liabilities, which are concerned with current uses and sources of funds. Both of these types of funds play a vital role in business finance. Business firms need various types of assets in order to carry out its operation. Some assets are required to meet the needs of regular production and same other are required specially to meet day to day expenses and short term obligations. The assets such as cash, marketable, securities, account receivables and inventories which are know as current assets are required to maintain at a certain level depending upon the volume of production and sales. The cash and marketable securities are respectively considered as purely liquid and near liquid assets where as the account receivable and inventories are not. However they can be liquidated as and when necessary within a period of less than one year. The capital invested on these assets is known as working capital. In short working capital is the sources of financing current assets and it includes shorts as well as long term financing. Firms need cash to pay for all their day to day activities. They have to pay wages, pay for raw materials, pay bills and so on. The money available to them to do this is known as the firm’s working capital. The main sources of working capital are the current assets as these are short term assets that  the firm can use to generate cash. However the firm also has current liabilities and so these have to be taken account of when working out how much working capital a firm has its disposal. Working Capital is there fore:- Thus working capital is the same as net current assets, and is an important part of the top half of the firm’s balance sheet. It is vital to a business to have sufficient working capital to meet its entire requirement. Many businesses have gone under not because they were unprofitable but because they suffered from shortages of working capital. By the definition of various experts of working capital management we conclude that all institution whether private or public financial institution manufacturing or non manufacturing that need just adequate working capital to compete with competitive market . It is because over or under adequacy of working capital is dangerous from the firms objective points of view over investment on working capital effects the firms profitability just as idle investment. on the other hand under investment on working capital effects the liquidity position of the firm and causes to financial hindrance and failure of the company . It is therefore a recognized fact that any mistake made in management of working capital can cause to adverse effects in business and reduces the liquidity turn over and profitability and increases the cost of financing of the organization. â€Å"The objective of managing working capital is to aid in the value maximization of the firm by minimizing the cost of working capital. The level of working capital also differs by the types and nature of business. The cost of maintaining the working capital depends on the sources of finance used. The short-term sources generally cost less than the long term sources but they are riskier. (Pradhan, 1992: 148) 2.2 Concept of Working Capital There are two schools of thoughts or concepts regarding the meaning of working capital. According to one school of thought, working capital is meant for the currents only. It is concerned nothing with the liabilities  side. According to other school of thought working capital is the excess of current assets over current liabilities. The former concept which can be termed as gross concept, is important to newly established companies where liabilities have not been acquired immediately , but the lattes one which can be term as net concept is important for both newly established and operating concerns where some amount of current liabilities has been maintained for payment of different creditors, income taxes, bill payable, secured and unsecured loan etc. The term current assets refers to those assets which in the ordinary course of business can be or will be turn into cash within one year without undergoing or diminishing in value and without disrupting the operations of the firm such as cash, Marketable securities, accounts receivables and inventory etc. current liabilities are those liabilities which are intended at their inception to be paid in the ordinary course of business such as accounts payable, bank overdraft and outstanding expenses etc . Mainly there are two concepts of working capital gross concept and net concept. Gross Concept In a simple term gross concept of W/C means investment in current assets in other words, gross working capital is the total amount of available for financing of current assets .However it does not show the real financial position of a business firm. According to this concept the working capital may be classified as capital invested in the various types of current assets such as cash, inventories, receivables etc. This classification important from financial managers point of view as it lays emphasis on the various areas of functional responsibility but it totally ignores the time which is very important in the formulation of procurement polices. From the view of I m pandey gross working capital refers to the firms investment in current assets. C/A are the assets which can be converted into cash within an accounting year and include cash short term securities debtors bills receivables and stock. Net Concept Gross concept of W/C is the narrow concept which is only concerned with the  study about total investment of current assets .In the other hands, net concept of W/C is a broad concept which focuses to long term view of working capital. under the concept of net W/C it studies current assets and current liabilities as differently. Todays market is heterogeneous every changed in environment and other factors bring changes of demand needs and wants of customers at the same time so every business firms have to be made their W/C policies to fit the new environment thus, Net W/C concept should be studied to know the portion of current liabilities. How much current liabilities should be managed to how much current assets? Net W/C is an accounting concept, which represents the excess of current assets over its current liabilities. current assets consists of cash, bank balance, stock, debtors, bills receivables etc and current liabilities consists bills payable, creditors, outstanding expense s etc. Excess of current assets over current liabilities, thus, it indicates the liquidity position of an enterprises. From the view point of I .M pandey, the term net working capital refers to â€Å"the difference between current assets and current liabilities. Current liabilities are those claims outsiders which are expected to nature for payment within an accounting year and include creditors, bills payable and outstanding expenses. Net working capital can be negative or positive. A positive Net W/C will be arise when capital occurs when current liabilities are in excess of current assets† (Pandey;1995;p730 ) 2.3 Classification of Working Capital Working capital can be classified into two types:- 1. Permanent or fixed working capital 2. Temporary or variable or fluctuating working capital A firm’s permanent working capital is the amount of current assets required to meet long term minimum needs. Temporary working capital on the other hand is the investment in current assets that varies with seasonal requirements. figure in below illustrates the firms changing needs for working capital over time while highlighting both the permanent and temporary nature of those needs. Permanent working capital is similar to the firm’s fixed assets in two important respects. First, the amount invested in both of these asset groups  is long term. Therefore supplies of capital to the firm need to realize that the funding needs for permanent current assets is long term despite the seeming contradiction that the assets being financed are called â€Å"Current†. Second, for a growing firm, the level of permanent working capital needed will increase over time in the same way that a firms fixed assets will need to increase over time. However, permanent working capital is different from fixed assets in one very important respects- it is constantly changing permanent working capital does not consists of particular current assets staying permanently in place , but is a permanent level of investment in current assets, whose individual items are constantly turning over. Like permanent working capital, temporary working capital also consists of current assets in a constantly changing form. However since the need for this portion of the firms total current assets is seasonal, we may want to consider financing this level of current assets from a source which can it self be seasonal or temporary in nature. (Van Horn; 1996: 205) Thus the permanent working capital refers to that level of current assets which is required on a continuous basis over the entire year and the temporary working capital represents that portion of working capital which is required over permanent working capital. 2.4 Objectives of Working Capital A bank undertakes many transactions daily. Sometimes, customers deposits large quantity and sometimes withdraw from their deposits in high quantity. Investment fund of banks is covered by deposit collections of different types of account holder. A bank should have to pay the money to depositors when they want to withdraw. For daily operation of office and to meet the administrative expenses, a bank should have certain level of working capital. Working capital is required to run the business smoothly and efficiently in the context of the set objective. It is no doubt that no company can achieve its goal without proper use of working capital. Therefore it can compare as lifeblood to the organization. The main objectives of arranging capital are as follows: 1. To pay to depositors 2. To maintain cash reserve ratio (CRR) statutory liquidity Ratio (SLR) 3. To satisfy the customers by granting loans promptly and increase the attraction of business etc. 4. To meet the administrative expenses, perform the task as per objectives of business and run the business smoothly. 5. To fulfill the present need of business as well as get ready for risk and economic fluctuation in future. 2.5 Need of Working Capital Working capital is maintained at bank by current saving fixed deposit collection. Specially to grant loan and to pay cheque, creditors and account holders demand the liquidity. Generally banks need liquidity for maintaining following goals. 1. Transaction Motive 2. Security Motive 3. Speculative Motive Figure 2.2 Need of working capital 2.6 Determinants of Working Capital The total requirement of working capital is determined by a wide variety of factors. The influence of these factors is different in different business organizations. Perhaps none of them can neglect the management of adequate w/c. Therefore, an analysis of the relevant factors should be made in order to determine the total investment in w/c. The description of the factors which generally influence the w/c requirement of the firm is given below 1) Nature and Size of Business The working capital requirement of a firm is basically related to Nature and size of the business organization. If the size of the business is small, then it requires less working capital but if the business organization is bigger, it requires more working capital. Financial and training institution have needed very high amount of w/c. Public utilities have a very limited need of w/c and have to invest abundantly in fixed assets. Their working capital requirements are nominal. 2) Production Policy We just noted that a strategy of constant production may be maintained in order to resolve the working capital problems arising due to seasonal changes in the demand for the firm’s product. A steady production policy will cause inventories to accumulate during the off season periods and the firm will be exposed to greater inventory costs and risks. Thus, if cost and risks of maintaining a constant production schedules in accordance with changing demand. Those firms, whose productive capacities can be utilized for manufacturing varied products can have the advantaged of diversified activities and solve their working capital problems. (Pandey; 1995: 675) 3) Operating Efficiency Operating efficiency of the firm means the optimums utilization of resources at minimum cost .The firm cannot effectively contribute to its working capital when the operating efficiency is low. Working capital turnover is improved with a better operation and financial efficiency of a firm, efficiency of operation accelerates the face of cash cycle and improves the working capital turnover . It releases the pressure on working capital by improving profitability and improving the internal generation of fund. 4) Manufacturing Cycle Manufacturing cycle starts with the purchase and use of raw material and completes with the production of finished goods. Longer the manufacturing cycle larger will be the firms working capital requirements. An extended manufacturing time span means large tie-up funds in stocks. Thus if there are alternative way of manufacturing cycle should be chosen, once a manufacturing process has been selected , it should be ensured that manufacturing cycle is completed with in the specified period . This need proper planning and coordination at all levels of activity non manufacturing firm financial and service oriented enterprises do not have manufacturing cycle .(Pandey ; 1995: 674) 5) Profit Margin The net profit is source of working capital to the extent that has been earned in cash. The earning capacity of the different firm can not be equal.  In the words of I.M .Pandey some firms enjoy a dominant position due to quality product or good marketing management or monopoly power in the market and earn a high profit margin. Higher profit margin contributes to more working capital. The level of working capital is determined not only by the profit margin , but also by the way of appropriation for taxations, dividends, reserves and depreciation only after providing for these items internal funds can be set a side for working capital . As the provisions for these items are higher the amount of working capital will be lesser. 6) Level of Taxes The level of taxes is one of the important elements, which is also influences working capital requirement of a firm. The amount of taxes to be paid in advances is determined by the prevailing tax regulations. But the firms profit is not constant or cant be predetermined. Tax liability in a sense of short- term liquidity is payable in cash. Therefore the provision for tax amount is one of the important aspects of working capital planning. If tax liability decrease, it needs to decrease the working capital and vice -versa. Besides the above factors there are many other factors also which may have a greater role in determining the size and composition of working capital for example firms attitude to take risk, credit policy, firms policies toward the financial management in the inflationary period, co-ordination among production, distribution, developed transport and communication system etc could also play an important role in determinants effects both temporary and permanent working capital.

Prevent Internet Censorship, Save Freedom of Speech -- Argumentative Es

Every second, citizens of the world enter cyber space to relay information, keep in contact with family and friends, and to complete a multitude of various tasks. The World Wide Web is a major staple in ensuring that individuals of all nationalities can perform all the necessary tasks in their lives. However, the negative aspects of the internet have been recently brought into the public eye. Social Networks such as Facebook and Twitter along with other popularly accessed websites such as Reddit, 4Chan, and Pinterest have become the subject of critique after a whirl of internet controversy arose. Public scrutiny of many popularly viewed sites has resulted in the call for restrictions in order to prevent the harmful aspects of the internet. This controversial topic has created a rift in website surfers from around the world. Internet censorship is the control of access to information presented on the internet. Advocates of internet restrictions argue that popular sites are the source of obsessions which result in crumbling relationships, put minors in danger of cyber bullying and internet predators, and provide easy access to vulgar or dangerous information which corrupts our culture. As recommended by Dr. Pinhas Dannon, psychiatrist from Tel Aviv University’s Sackler Faculty of Medicine, the disorder (internet addiction) should be grouped with other extremely addictive disorders such as gambling, sex addiction, and kleptomania. (Nauert) Many Americans exposed to the internet find themselves enveloped in the entertaining world of the â€Å"Net.† As argued by those in support of internet restriction and censorship, the act of spending excessive amounts of time on the computer results in crumbling relationships and disinteg... ...o the 1st Amendment and everything this country stands for. This country has spent years and many court case hours defending the rights that our fore fathers fought to protect. Work Cited Anderson, Mark. "Internet Censorship: As Bad As You Thought It Was." - IEEE Spectrum. Nov. 2007. Web. 24 Apr. 2012. . Kan, Michael. "Time to De-Flash Your Site?" The U.S. Has Asked the Chinese Government Explain Its Policies Related to Blocking Company Websites. 20 Oct. 2011. Web. 18 Apr. 2012. . "Limit the Content That Children Can View on the Web." Limit the Content That Children Can View on the Web. Windows, 2012. Web. 23 Apr. 2012. .

Global Media, Global Culture Essay

‘The boundaries that separate one nation from another are no more real than the equator. They are merely convenient demarcations of ethnic, linguistic and cultural entities. They do not define business requirements or consumer trends.'(IBM). Boundaries delimit countries. Or, at least, this is their function. Boundaries separate traditions, languages, governments, currencies, people, economies and cultures. But, is this true? Nationalisms are rising in a world that tends to the globalization. Is it so that we are all equal for the multinational companies? There are a lot of definitions of globalization. Most of the definitions (to not say all of them) are related with the capitalism system. According with Marà ¯Ã‚ ¿Ã‚ ½ Sà ¯Ã‚ ¿Ã‚ ½ez globalization has three steps in the history until arrives to the actual situation: â€Å"We can understand globalisation in two senses. In a wider sense, it means the expansive tendency that took place in the capitalist system. This concept talks about the power that drove capitalism to go across the boundaries to look for raw material and new markets. In a strict sense it means a concrete phase that begins with three concrete historical facts: the success of the neo-liberal powers such as USA or United Kingdom (Ronald Reagan and Margaret Thatcher), the foreign debt in the Third World (1982) and the fall of Berlin’s wall in 1989†. Sà ¯Ã‚ ¿Ã‚ ½ez (1999), p. 12 All of us (I’m referring to the develop countries) are connected between computers and internet, press, radio, television and cinema. We can learn new traditions or new ways of life with each media. Everybody knows who is Nicole Kidman or Gucci. We can drink a Coke with a Big Mac in somewhere. There are not boundaries for information or products. We can see the same advertisement in US or in India. But are not they different? Don’t they have different culture, tradition or language? New ways of advertisement can overcome the boundaries. Only have to show images and sell the products without words. The media configures our lives, our way behaviours, our minds. They make us. They are cultural factories. They make the perfect target to the products, the perfect consumers’ trends. The national identity is threatened. â€Å"Young people drink the same soft drinks, smoke the same cigarettes, wear identical branded clothing and shoes, play the same computer games, watch the same Hollywood films and listen to the same Western pop music.† Ellwood, W. (2001): pp.53. Governments make pacts about laws and economy. The European countries are being united in the European Union (EU). Although the citizen of each country have different tradition, they culture is very similar and is almost like the American one. These countries share currencies, economics’ politics and, in soon time, laws. â€Å"The challenge of producing and marketing in many countries, with many currencies, has fed the creation of modern international money market and currency trading.† Davis, J (1999): pp.38 Countries member of the European Union share a European Parliament, Justice Court of the European Communities, European Central Banc, Committee of the Regions and so on. The products of each country can transfer boundaries without taxes. These products are sold without differences in each country. It doesn’t matter if are German or Italian. The products are sold like if they were from the same town. They share a new globalizated culture. Somehow this globalizated culture has adopted elements characteristics from each country. In this way the globalizated culture can survive. â€Å"Business are in the business of government and governments are in the business of business.† Sivanandan, A. (1999): pp.9. Sivanandan makes a perfect summary of as the governments are in disposition of the great companies. And these companies want to make only one market around the world. In this way, they only have to make only one marketing campaign. Helped by mass media and governments, multinationals can obtain their objectives. Governments take profits of the business and help to the great companies to develop their plans. Countries depend on the others in the production of their products. They have decentralized the production of the products in different countries looking for a cheap manual labour. â€Å"This stretching of the boundaries of the economically possible by new technologies happens at al points of the circuit of capital – in production, and in the circulation of commodities and money. As companies, driven to expand profits, take advantage of the new boundaries, the components of â€Å"globalisation† take shape.† Davis, J (1999), pp.38 But in this world where culture and business are globalizated, nationalism take more popularity around the countries. Nobody wants to lose his identity. They mixed the globalizated culture (American culture) and the traditional culture. French person will keep it traditions and way of life but will wear the same cloth, will drink the same drink, will eat the same food and will see the same films than a Cyprus or Turkey person. In conclusion, globalization is a process that shows two faces: the first one shows the differences between countries and the diversity around the world, creating a nationalism and pride to belong to a country. And on the other hand shows how the countries depends on the others and there are similitude between countries, cultures and markets. In this way, I agree with the topic of the assignment: boundaries only delimit ethnics, languages and cultural entities. Marketing, mass media, governments and multinationals have made disappear the boundaries and the great differences between the cultures creating an only and great world-wide market. Reference list: – Marà ¯Ã‚ ¿Ã‚ ½ Sà ¯Ã‚ ¿Ã‚ ½ez, V. M. (1999) Globalizacià ¯Ã‚ ¿Ã‚ ½n, nuevas tecnologà ¯Ã‚ ¿Ã‚ ½as y comunicacià ¯Ã‚ ¿Ã‚ ½n. Madrid: Ediciones de la Torre, pp. 12 – Davis, J (1999) â€Å"Race & Class: The threat of Globalism† (Vol.40, no.2/3, 1998-1999), London: Institute of Race Relation, pp.38 – Sivanandan, A. (1999) )†Racism, culture, markets†, London: Institute of Race Relation, pp.9 – Ellwood, W. (2001). The no-nonsense guide to globalization. London;Oxford, pp.53 Bibliography: – Marà ¯Ã‚ ¿Ã‚ ½ Sà ¯Ã‚ ¿Ã‚ ½ez, V. M. (1999) Globalizacià ¯Ã‚ ¿Ã‚ ½n, nuevas tecnologà ¯Ã‚ ¿Ã‚ ½as y comunicacià ¯Ã‚ ¿Ã‚ ½n. Madrid: Ediciones de la Torre – (1999) â€Å"Race & Class: The threat of Globalism† (Vol.40, no.2/3, 1998-1999), London: Institute of Race Relation – Sivanandan, A. (1999) )†Racism, culture, markets†, London: Institute of Race Relation – Ellwood, W. (2001). The no-nonsense guide to globalization. London;Oxford – Gabriel, J. (1994) Racism, Culture, Markets. New York: Routledge

Success In Modern Bodybuilding EPQ Project Report

Female bodybuilding has risen in popularity, but due to a lack of research and the small size of this project, only male competitors will be addressed. The purpose of this project is to provide readers with the details on what they can do to become a successful bodybuilder. Due to personal interest in the sport the hope is to expand personal knowledge and to share this. My opinion on the research is distinguished in the text; it is presented in italics so it stands out. Readers should be open-minded and draw their own conclusions, as bodybuilding is subjective and there are many debates, it is p to individuals to understand themselves.Former BIBB Pro bodybuilder Ronnie Coleman (pictured above) 1 Diet – A bodybuilders diet stimulates muscle grog. N/the and recovery. Typically, bodybuilders take in frequent meals in small portions to constantly feed muscles. Jay Cutler recommends â€Å"eight meals a day' but sometimes he would have more. The following sections will focus on off -season bodybuilding. Protein: â€Å"Protein is extremely essential†¦ † 3 This phrase sums up the popular view on protein. It's been shown protein enhances the body ability to send vital muscle-building nutrients to damaged muscles.This process helps muscles recover and grow. Leman et al. (1992) recommends 0. Egg/Bib. Of protein per day based on a study where no contrasts in muscle mass were present in subjects on 0. Egg/lb. Or 1. Egg/lb. 4 over a 4-week period. The figures are debated with some bodybuilders taking up to g/Bib. But realistically that is an unnecessary amount and the studies are inevitably correct. Carbohydrates: Charles Lambert found anyone in bodybuilding should have around 55-60% of his or her diet as carbohydrates (carobs). 5 This is because carobs are our main source of energy.The body breaks carobs down so that they can be used or energy. Therefore, they prove as key for workouts and putting on mass due to the filling quality. Within the bodybuildin g community it's widely agreed that carobs should be the highest consumed encountering in the diet. Absentmindedness recommends that egg over bodyweight in pounds of clean carobs should be taken in per day 6 this would include foods such as brown rice, which is considered a ‘good crab'. Bodybuilders steer clear of ‘bad carobs' which consist of foods such as white bread, which the body digests quickly.The original terms are complex and simple carobs. It's impossible to agrees that good carobs' are better, but having a diet full of them is a step too far, occasionally have a few ‘bad carobs'. Bodybuilding encourages everything in moderation. Fats: â€Å"In order to gain mass†¦ You need to be in a caloric surplus†. 7 Fats are argued to be essential to bodybuilders. As the quote says, you must eat more than what is needed to gain muscle. Fats help our body function and contain nine calories per gram. So, they give plenty of calories, and ensure the body can carry out the processes for muscle growth.The ‘Men's health natural bodybuilding Bible' 8 states the key fats to incorporate into a diet are mega-3 and omega-6, as they are most vital in body functions, as well as helping joints. 9 Other foods: â€Å"Steady water intake keeps nutrients moving in your bloodstream and into muscle cells. † 10 Within bodybuilding it is vital to keep hydrated because, as shown by the quote it promotes growth. Muscles feed upon nutrients to grow and recover. Therefore, water enhances this process and allows for greater muscle growth. ‘Obsolescing. Com' recommends that bodybuilders take in 1-2 gallons of water per day. 1 But, don't drink too much; flooding your cells is dangerous. A part of bodybuilding nutrition is also vitamins and minerals. Many agree that the addition of such microinstructions are essential for making progress and figures like Ronnie Coleman (Appendix 3) have created their own brand of multivitamins and minerals. Th ey certainly aren't essential; people like Coleman who have retired have best interests in profit. If you can afford them, then its good, but foods are just as good. 12 Overall, its clear nutrition is one of the most important factors in attaining success.Whilst the intake of microinstructions in terms of amount is often debated, there is no doubt that as a whole, bodybuilding success is largely reliant on nutrition. A lot of people consider nutrition as a difficult topic. Facts are that it's not, just get enough protein in your diet, add plenty of good carobs and occasionally have some fats. Rest – Sleep: It's been shown whilst we sleep, we enter our greatest anabolic state. Human growth hormone is released at the fastest rate whilst sleeping. Thus, it is the best time for muscle to grow and repair. It is one of the only times that muscle can grow as it is rare we enter an anabolic state.Dry. Felicia Stoles states, â€Å"You give your body the chance to repair, recharge, an d regret†¦ † 13 So sleep is the only way we can build substantial amounts of muscle. The same argument follows that if sleep allows for the longest anabolic State, then one should utilities that Breed Bernstein recommends 7-8 hours sleep for the average person, but to also have short naps where possible and extend sleep. 14 In reality you probably get less than the recommended hours because of school, work or other things in your life. So don't feel you must get exactly eight hours, just have little naps for sleep that you miss.Rest between workouts: Rest is also taken between workouts. When working out muscle fibers break down and this can cause delayed onset muscle soreness (DOOMS). Our bodies ill use nutrients to repair muscles, which in turn causes groom as they are repaired bigger. But muscles need time to fully recover before they can be efficiently worked again. ‘Cobol 961' recommends that after two years of being in the gym, you should only be training each muscle type once a week intensely. He adds anyone under this can target muscles two to three times a week less intensely. 5 Bodybuilders usually train six times a week and use one day as a rest day as muscles can be targeted sufficiently, but also have the chance to recover. Whilst it's hard to disagree with Scoops, bear in mind even if your muscles are a little sore you can still train them lightly. An interpretation of ‘Cobol 961 ‘s advice -? presented in graph form showing progress is made within the gym up to a certain point. Pictured above 16 Rest between sets: During a workout rest is needed between sets and this can influence the muscle gained. The common goal of a bodybuilder is to build muscle, and when they are cutting it's to burn fat.So, the common view held by participants within the sport is that 60-90 seconds break is optimal. For example, Phil Heath (Appendix 4) states rest periods should be between one ND three minutes depending on the intensity of the p revious set. 17 Anything above this is geared towards strength as mechanical tension suffers. But if a bodybuilder is cutting they may shorten these rest periods to as low as 30-45 seconds. 18 However, recent research by fitness experts within the field have made changes to several views. Brad Schoenberg and Men Homelands reviewed many studies that focused on rest intervals between working sets.They concluded â€Å"you can self-select a rest period that allows you to exert the needed effort into your next set without compromising hypertrophied results. 19 1 would go the research here; there are very few people who actually count the seconds between sets. Rest is a big debating point in bodybuilding and a lot of research has gone into the topic. In my opinion, you need the correct rest. Sleep is vital; overstraining is a problem one must avoid, and rest between sets must be made appropriate for the individual. I agree with Antonio De Carnival in the belief that rest is one of the ke y factors for success in bodybuilding.

Case Study Analysis Essays

Case Study Analysis Essays Case Study Analysis Essay Case Study Analysis Essay Case Study Analysis Name: Institution: Date: Case Study Analysis 1. The section on the principles of screening and testing deals with the issue of ethics in the testing and identification of disease as this may have a social and economic effect on the process itself. Screening programs introduced without the reflection upon its opportunity cost can result in false results from these tests (Chadwick, 2001). Testing is defined as correct when it follows principles of impartiality, consistency and validity. Ethics should also be applied in screening as screening can help identify patients at risk for disease and illness at a stage where prompt intervention could increase chances of survival for a patient. 2. By far, the most fundamental aspect of a test is that it is precise. This is achieved by first determining the most specific and responsive test in relation to the malady being sought. There needs to be a balance between these two criteria. A highly specific test can only state that a person has a high probability of having the disease, which leads to the possibility of a false negative while a highly specific test will only detect one who has symptoms for that particular disease and this could lead to a false positive. Both outcomes are highly unfavorable, as false negative results would then cause delays in patients’ diagnosis while false positive results could end up creating diagnosis where there is none (Chadwick, 2001). After a test is conducted there needs to be an precise interpretation of the results, and since this is done in connection with other issues specific to the patient such as their medical history, the goal is to interpret the results with as small a margin for error as possible. Further, given the method of testing for a given disease, some risk is bound to attach with some procedures and thus the goal is to first start with the safest and noninvasive procedures before moving on to radical alternatives. The patient’s safety and comfort must be weighed against the necessity of the test. The case study deals with the ethical issues that come with insensitive tests that may lead to false positive results. False positive results create diagnosis, and this is shown when the test shows positive results for marijuana in one who has taken ibuprofen. Tina comes across test results she believes should show the opposite and ends up faking results, this negates the point to the test as the testing should be done impartially meaning that the tester should not favor the test no matter what the outcome (Chadwick, 2001). Tina was obligated to go with the test results she had without bending to emotion based on her personal relationship with the tested party. Tina also should push her boyfriend for a more accurate test as she is aware of the unreliable nature of the testing method. Thus, when in doubt, she should recommend further testing of a more specific nature to cases that would require further examination. As to whether Tina is justified in working for a company that lets people lose their jobs for no sufficient reason, the blame should be accorded to the testing methods and not to the tester. It is well clear that a more specific test would also be more expensive than a standard the standard one conducted by Tina and it would be impractical in terms of cost to subject everyone to this mode of testing. Reference Top of Form

Biomechanics essays

Biomechanics essays Within the field of kinesiology, many different job opportunities are available. Biomechanics, 'the study of the structure and function of biological systems using the methods of mechanics? (Hatze, 1974, p. 189) is a fairly new title for an old practice. The idea of biomechanics has been around since Aristotle first wrote, On the Movement of Animals (Hamill, 1995). Since then it has slowly evolved until the1960's when it received the name of biomechanics and now is gaining more attention. Biomechanics is a potentially large field of study, but employers need to find ways to utilize this opportunity. Joseph Hamill describes the history of biomechanics as a long and gradual progression. Many past philosophers and scientists have made significant advancement in biomechanics. Galileo found equations for constant acceleration. One of Galileo's students, Alfonso Borelli demonstrated that animals are similar to machines in that they are a system of pulleys and levers, and that muscles functioned according to mathematical concepts. Leonardo da Vinci was probably the first biomechanist. He was interested in human movement both as science and as art. He made the relationship between biomechanical concepts and the musculoskeletal system. Sir Isaac Newton was not a biomechanist, but he did help the cause by providing us with his three laws of motion. In the 1800's two photographers, Etienne Jules Marey and Eadward Muybridge both made advancements for biomechanics. He measured step frequency and related it with speed. He founded methods for automatic timing of events as well. Muyb ridge used multiple cameras to take pictures of an animal in motion. He took them along the cardinal axis to break each bit of motion into different pieces. A.V. Hill created a velocity curve for sprinting, and considered air resistance when running. Herbert Elftman focused on the movement of muscle using film data. Finally in the 1960's biomechanics labor...

Ain Ghazal - Pre-Pottery Neolithic Site in the Levant of Ain Ghazal

'Ain Ghazal - Pre-Pottery Neolithic Site in the Levant of 'Ain Ghazal The site of Ain Ghazal is an early Neolithic village site located along the banks of the Zarqa River near Amman, Jordan. The name means Spring of the Gazelles, and the site has major occupations during the Pre-Pottery Neolithic B (PPNB) period, about 7200 and 6000 BC; the PPNC period (ca. 6000-5500 BC) and during the early pottery Neolithic, between ca 5500-5000 BC. Ain Ghazal covers some 30 acres, three times the size of the similarly dated levels at Jericho. The PPNB occupation has several multiroomed rectangular dwellings which were built and rebuilt at least five times. Nearly 100 burials have been recovered from this period. Living at Ain Ghazal Ritual behavior seen at Ain Ghazal include the presence of numerous human and animal figurines, some large human statues with distinctive eyes, and some plastered skulls. Five large lime plaster statues were recovered, of quasi-human forms made of reed bundles covered with plaster. The forms have square torsos and two or three heads. Recent excavations at Ain Ghazal have considerably augmented knowledge of several aspects of the Neolithic. Of particular interest has been the documentation of a continuous, or near continuous, occupation from early through late Neolithic components, and a concomitant dramatic economic shift. This shift was from a broad subsistence base relying on a variety of both wild and domestic plants and animals, to an economic strategy reflecting an apparent emphasis on pastoralism. Domesticated wheat, barley, peas and lentils have been identified at Ain Ghazal, as well as a wide variety of wild forms of these plants and animals such as gazelle, goats, cattle and pigs. No domesticated animals were identified in the PPNB levels, although by the PPNC period, domestic sheep, goats, pigs, and probably cattle were identified. Sources Ain Ghazal is a part of the About.com Guide to the Pre-Pottery Neolithic, and part of the Dictionary of Archaeology. Goren, Yuval, A. N. Goring-Morris, and Irena Segal 2001 The technology of skull modelling in the Pre-Pottery Neolithic B (PPNB): Regional variability, the relation of technology and iconography and their archaeological implications. Journal of Archaeological Science 28:671-690. Grissom, Carol A. 2000 Neolithic Statues from Ain Ghazal: Construction and Form. American Journal of Archaeology 104(1). Free download Schmandt-Besserat, Denise 1991 A stone metaphor of creation. Near Eastern Archaeology 61(2):109-117. Simmons, Alan H., et al. 1988 Ain Ghazal: A Major Neolithic Settlement in Central Jordan. Science 240:35-39. This glossary entry is part of the Dictionary of Archaeology.

Alone on the sea Essay Example | Topics and Well Written Essays - 500 words

Alone on the sea - Essay Example As more and more data are collected, retrieved and stored on these social media sites and internet, the concerns for its privacy and repurposing has been increased immensely. This superfluous information and data needs intelligent and sophisticated data base management systems, making this sensitive information prone to the advertising agencies etc. Advertising agencies lure these social media networking sites like Facebook, LinkedIn, Myspace, Twitter, Skype, Whatsapp etc to sell this personal sensitive data for marketing and advertising prospects. Highly customized, targeted and dedicated advertising campaigns have been designed by the advertisers managed by their back end running systems to reach their target markets. Highly targeted and specified advertising campaigns endanger the personals of individuals threatening the prospects of privacy violation. The goal of these advertising campaigns is unified that is to make their way to their target prospects that causes privacy violations. An advertising system has been established linking the middle users and the advertisers supported by the social media and internet so that they can display their ads and market their offerings. Moreover many of the internet tracking companies is also inclined towards gaining access to the private data of individuals through Facebook apps. The p oor infrastructure and least sophisticated systems of social media sites also cause privacy violations. As with the increased susceptibility of private data of internet users most of the renowned and gigantic social media sites have strengthened their privacy controls facilitating the users to gain trust in their platforms and services. For instance, Facebook, Instagram, Skype etc frequently make changes in their privacy control systems and proposing tight restrictive options in privacy setting for their users. Moreover they give options

King Henry VIII Essay Example | Topics and Well Written Essays - 1750 words

King Henry VIII - Essay Example In 1503, Henry became the Prince of Wales and in that very year his mother and grandmother were gathered unto their forefathers. In the year 1509, his father passed away and he ascended the throne as Henry the VIII (HENRY VIII (r. 1509-1547)). At that time England was an isolated kingdom in Europe. It had limited natural resources. England was surrounded by the sea on three sides. Scotland was to its north. The Scots were inimical to the English they joined forces with France, which was also an enemy of England. His father Henry VII had strived hard to restore independence to England and to enrich it in all respects. In order to achieve these goals, Henry VII had executed his opponents and enemies and annexed their properties in England. He had increased the amount of taxes to enrich the crown. He was disinterested in wars as they depleted the wealth of the nation. His son had totally different ideas in this respect and after his coronation; he adopted novel means to expand the power of England and to make it the greatest power in Europe (Kishlansky). Henry VIII was inimical of France and in the year 1513, he mounted a successful campaign against the French. This infuriated the Scots who waged a war against England. This engagement was famous as the Battle of Flodden Field. In that battle, the armies of Henry established their supremacy over that of the Scots. James IV, the king of Scotland was killed in that battle (Kishlansky). Henry VIII played the role of an arbitrator between France and Spain. He provoked these countries to wage war against each other, in order to assume a superior position in Europe. His subsequent military operations were failures. In the year 1520, Henry met with the king of France, Francis I, in France. Their meeting was a spectacular event in Europe. Despite, the existence of diplomatic relations with each other, they were unable to stop the

Strategic Human Resource Management Essay Example | Topics and Well Written Essays - 1500 words - 1

Strategic Human Resource Management - Essay Example This may mean that SHRM has the ability to change the way things are done in an organisation, effectively changing an organisation’s culture (Schein, 2004; Robbins, 2003). However, individual HRM strategies in themselves may not be strategic HRM, where SHRM is the â€Å"overall framework which determines the shape and delivery of the individual strategies† (CIPD, 2009). Strategy exists in all organisations as it is concerned with defining the organisation’s behaviour and its existence in a given environment, where the role of SHRM is to explain how the human resources function influences organisational performance (Boxall and Purcell, 2003). Dyer and Holder (1998) give us the main features of SHRM, where SHRM at the organisational level is planned at the top, where decisions are made regarding goals, policies and allocation of resources; the focus of SHRM is then aimed at organisational effectiveness or better performance, where people are viewed as resources that need to be managed towards the achievement of strategic business goals; HR strategies are then seen as frameworks which are broad, integrative, unifying and contingency based, as they incorporate a whole lot of HR goals and activities which are designed to be in strategic fit with the environment (also see Mankin, 2009). This particular study will focus on the role of SHRM in multinational organisations (MNCs), where the HRM function becomes international (IHRM). IHRM is a relatively recent addition to the field of human resources, developed mainly because of the rapid pace at which businesses are getting internationalised as a result of globalisation (Scullion, 2001). Even though IHRM’s operations are based on the same parameters of domestic HRM, it is much more complex as it deals with sensitive cross-cultural issues and calls for proper education of the local behaviour in terms of culture, values, business practices, and employment laws of the host country of a

Reflection Essay Example | Topics and Well Written Essays - 500 words - 6

Reflection - Essay Example erg’s comments on sexuality and oppression are very insightful, it appears as though she can take any gesture, action, or viewpoint and show how it is literally or symbolically oppressing women. One of the most bizarre analyses that she proposes comes from the section of her chapter that touches on a man holding open the door for a women. She mentions that this is viewed positively and negatively by our culture, but that symbolically it holds completely negative meanings. Rothenberg compares this act to a slave performing for the master, and in turn, argues that it is mocking the woman’s position in society because the woman is always the one taking care of the man. Most men are not holding open a door for a lady to mock, abuse, or belittle her. This is an act out of respect that is meant to honor the presence of the woman and make sure that she knows that the man cares about her. A poll could be taken by every man in America and none of them would say that they have held open a door for a lady to intentionally oppress them or mock their existence. Rothenberg also makes reference that a woman, no matter how she dresses, behaves, or is sexually active or non-active sh e is perceived as wanting sex and, therefore, wanting to be raped. This is an absurd notion that anyone with a useful brain can understand that no person desires to be raped; and therefore, no person should believe that the woman would want to be raped regardless of any stereotypical behavior that she may or may not perform. While the author mentions many examples similar to rape and holding the door, she does provide a very strong analysis of multiple social factors all equally restricting women in her bird cage metaphor. If we look closely at just one wire on the cage, or an individual social factor, we cannot comprehend how it is being restrictive or oppressing the victim. On the other hand, if we take a few steps back and analyze all of the wires together, or all of the social factors

Cigarettes and the effects Essay Example | Topics and Well Written Essays - 500 words

Cigarettes and the effects - Essay Example It is inevitable that smoking cigarettes have devastating effects on health although smokers often claims that it helps them to relax and release stress and also gives them recognition and acceptance. The causes and effects of cigarette smoking are discussed worldwide by scientists and health officials ans it has been discovered that cigarette smoking causes some life threatening diseases and also badly affects the heath quality. However there are number of factors that make people addicted to it. (NY Times) An important cause and temptation towards smoking is nicotine. Nicotine intake brings up a level of good feelings among individuals. People often argues that nicotine has stimulating effect and it relieves tension, depression or even boredom. (Neal, 95) They are actually psychological effects because smoking cannot provide stimulation and reduce tension at the same time. It’s just the release of brain chemicals which makes smokers feel like this way. People who need to smoke a certain numbers of cigarettes in a day at particular times for e.g. after a meal, have already formed a habit and so continue to smoke. They feel that something is missing. Reports show that the dependency on nicotine has increased to12 percent. (CDC) Some young people smoke because they believe that smoking is symbol of adulthood. Statistics show that nine out of ten smokers start to smoke before they are eighteen years old. The advertisers try to give the impression that maturity, social status, happiness and success are linked with smoking (CDC). Some young people start to smoke out of curiosity and then get addicted to it. Many of them start due to peer pressure. They try to intimate their parents or want to be accepted as members of a group of friends who smoke. Their friend’s persistent teasing and urging make them believe that they are not sporting enough. The harmful effect of smoking develops in a period of time. There

Reflection Essay Example | Topics and Well Written Essays - 500 words - 6

Reflection - Essay Example erg’s comments on sexuality and oppression are very insightful, it appears as though she can take any gesture, action, or viewpoint and show how it is literally or symbolically oppressing women. One of the most bizarre analyses that she proposes comes from the section of her chapter that touches on a man holding open the door for a women. She mentions that this is viewed positively and negatively by our culture, but that symbolically it holds completely negative meanings. Rothenberg compares this act to a slave performing for the master, and in turn, argues that it is mocking the woman’s position in society because the woman is always the one taking care of the man. Most men are not holding open a door for a lady to mock, abuse, or belittle her. This is an act out of respect that is meant to honor the presence of the woman and make sure that she knows that the man cares about her. A poll could be taken by every man in America and none of them would say that they have held open a door for a lady to intentionally oppress them or mock their existence. Rothenberg also makes reference that a woman, no matter how she dresses, behaves, or is sexually active or non-active sh e is perceived as wanting sex and, therefore, wanting to be raped. This is an absurd notion that anyone with a useful brain can understand that no person desires to be raped; and therefore, no person should believe that the woman would want to be raped regardless of any stereotypical behavior that she may or may not perform. While the author mentions many examples similar to rape and holding the door, she does provide a very strong analysis of multiple social factors all equally restricting women in her bird cage metaphor. If we look closely at just one wire on the cage, or an individual social factor, we cannot comprehend how it is being restrictive or oppressing the victim. On the other hand, if we take a few steps back and analyze all of the wires together, or all of the social factors

Labour market Essay Example | Topics and Well Written Essays - 1500 words

Labour market - Essay Example AUSTRALIAN LABOUR MARKET Introduction There are several ways through which a person gains human capital. However, the two main ways are education and the second is experience or on the job training. Various skills are required to perform different jobs and the basics skills are acquired through studies or formal education. However, without experience or practice the education is not as effective. Therefore, even at work, the worker is always in the process of learning. Considering the level of skills in the labour force in Australia, the government has been consistently undertaking various projects to support the workers in various areas and trying to expand and equip the workforce. Australian Labour Market There are a number of programs and workshops to assist organizations and also to train workers such as Workplace English Language and Literacy (WELL). They train workers in English language and numeracy skills linked to various jobs. Similarly, WORKERS’ EDUCATIONAL ASSOCIAT ION, SYDNEY (WEA Sydney) has been operating for the past century assisting organizations and providing wide range of public lectures and lectures in various subjects although it has not been funded by the government a lot. Also training has expanded to fields relating to communication technology and digital communication. (IMMI, 2010) The relaxed immigration policy of Australia is the evidence that the Australian government is attracting immigrants from abroad to work in Australia as the country is deprived of fully skilled workers for respective jobs. The Australian Human Resource Institute (AHRI) on skill shortages conducted a research. According to the report it was found that seven out of ten Australian employers surveyed are still experiencing a skills shortage, and more than 85% believe  skilled migration  is necessary to the success of their organizations. Therefore, research results from the Department of Education, Employment and Workplace Relations are working to find out the area where the skills are lacking at state and national level as the ability to work matters on various factors such as season, geographical base and also knowledge. That is there might be a worker with a certain skill; however he or she might not be able to find the respective job in his or her locality and would be unemployed for sometime as he/ she would also not be aware of the job in some other locality. Therefore, there has been a shortage of workers in Australia. (IMMI, 2010) The Australian government therefore introduced a visa policy known as 457 visas in 1996 under which immigrants were given working opportunities in Australia. They allowed skilled people to temporarily work in Australia under an approved sponsor for up to four years. During times of economic progress the use of this policy was very effective as skillful employees invited from abroad could easily fill the demand gap. However, over the years it has undergone many changes since hiring employees from foreign countries reduces the opportunities for the local workforce. During times of the global economic recession like during 2009 the demand for the 457 visa workers fell and the usage of the policy reduced, but so did the demand for the

Euthyphro †Plato Essay Example for Free

Euthyphro – Plato Essay On his way to his trial, Socrates runs into his friend Euthyphro, there to prosecute his own father for the murder of a slave. From this state of affairs, Socrates engages Euthyphro in a dialogue that begins with questions regarding piousness and ends up unsatisfactorily attempting to come to a true answer. In the course of this discussion, definitions of concept of holiness emerge, only to be picked apart by Socrates. Ultimately, Socrates’ goal is a new definition of piety and subtle rejection of the very idea of gods, paving the way for Plato’s defense of his wrongly accused teacher. Socrates is shocked to learn that Euthyphro is prosecuting his own father. Euthyphro defends his actions, believing that it is just to do so even though his acquaintances maintain that â€Å"it is impious for a son to prosecute his father for murder† (Plato, 8). Quickly, Socrates gets to the heart of the matter. Euthyphro is positive in his belief, therefore Socrates asks him directly: â€Å"what is the pious, and what the impious? † (9). Euthyphro’s first definition of piety is simple: â€Å"the pious is to do what I am doing now, to prosecute the wrongdoer† (9). Socrates is quick to show Euthyphro that such an explanation is but an example. â€Å"I did not bid you tell me on or tow the many pious actions but that form itself that makes all pious actions pious† (10). This lies at the heart of Plato’s philosophy: that all things have an ideal form, and that one can gain knowledge of that form through examination. The argument being refined, Euthyphro delivers his second definition: â€Å"what is dear to the gods is pious, what is not is impious† (11). Socrates points out that â€Å"different gods consider different things to be just,† noting how in Greek mythology, the gods are as quarrelsome and fickle as human beings. â€Å"Try to show me a clear sign that all the gods definitely believe this action to be right,† Socrates demands (13). Euthyphro cannot, and so Socrates presses him to further refine his definition. Therefore, Euthyphro delivers his third definition: â€Å"the pious is what all the gods love, and the opposite, what all the gods hate, is the impious† (14). Socrates must quickly turn this definition on its head: â€Å"Is the pious loved by the gods because it is pious, or is it pious because it is loved by the gods? † (14). There is a circular reason here that Socrates traps Euthyphro in. By seeking to attach piety to the desires of the gods, one cannot separate the effect and cause. Does piety exist in some form, that the gods maintain and uphold, or is piety defined by the agreement of the gods? â€Å"It is not loved by those who love it because it is being loved,† Socrates asks, â€Å"but it is being loved because they love it? † (15). Now Euthyphro must admit that there is a difference between what is â€Å"god-beloved† and what is pious. Since what the gods love and piety are different ideas, Socrates puts for the connection between justice and piety. â€Å"Is then all that is just pious? † he prompts (17). Concerning piety and the gods, Socrates eventually sums Euthyphro’s beliefs as â€Å"piety would be a knowledge of how to give to, and beg from the gods† (20). In establishing this premise, Socrates is driving towards the very notion that got him indicted by Meletus: corrupting the youth and not believing in the gods. Of course, when pressed in a court, Socrates will maintain that he believes in the gods. He later states that his public career was at the behest of the gods, who challenged him to find one wiser than he. However, Socrates’ line of reasoning suggests that he does not actually believe in the gods. â€Å"What benefit do the gods derive from the gifts they receive from us? † he asks (21). Socrates is constantly pointing out to Euthyphro that piety and the notion of the gods are two separate notions. For example, when he asks: â€Å"Would you agree that when you do something pious you make some one of the gods better? † it appears that he is reducing the notion of what a god supposedly is to that of a changing and corruptible being (19). If the gods are what they are supposed to be, how can they be improved by a pious action of a mortal? It would seem only that some god-delivered idea of piety would transform the mortals, and not the other way around. Piety, then, my dear Socrates, is that which finds universal approval as a good among human beings. If we remove the gods from the equation, then piety becomes an idealized notion of goodwill between human beings. If we are to seek out a form of piety, then there cannot be infallible gods who change their minds and respond differently to different situation. Socrates: Yes, my friend, perhaps there is indeed a form of piety, as we have been seeking. However, by what measure do you define universal approval? Simple majority? Are we to vote on a common definition? If a majority of people go to war, and sanction the killing of others, is it pious to do so? If the cause is just, one must say yes. Socrates: If war can be pious, then what cannot fall under this definition? What is just and what are pious must be two different notions, as we have already discussed. Indeed you are correct, Socrates. Piety is fidelity to the truth. Perhaps if there is indeed a form of it somewhere, then we have instinctive knowledge of piety without being able to define it in human language. If Euthyphro has â€Å"no clear knowledge of piety and impiety† despite his convictions, is it possible that each one of us defines such morality on our own (22)? Perhaps, then, there is no form in the universe, and each one of grasps at straws attempting to satisfy an inner desire to make sense out of the chaos that is life. References Plato. Five Dialogues: Euthyphro, Apology, Crito, Meno, Phaedo. Translated by G. M. A. Grube. Indianapolis: Hackett Publishing Company, 1981.

The Fluid Mosaic Model Of Membrane Structure

The Fluid Mosaic Model Of Membrane Structure The fluid mosaic model of membrane structure is a cell membrane that behaves like a two- dimensional liquid of mixed composition. The cell membrane is described to be fluid because of its hydrophobic components that are integrated into the membrane structure such as lipids and membrane proteins that move sideways throughout the membrane. That means the membrane more like a fluid. The membrane is referred to as mosaic because like a mosaic that is made up of many different parts the cell membrane has a mixed composition of lipids and proteins. The cell membrane gets it fluidity because the phospholipids in a typical cell membrane are not bonded to one another. Each phospholipid molecule has a head that is attracted to water that is pointing toward the outside of the cell membrane, making it hydrophilic, and a tail that repels water forming the inside of the bilayer, making it non-polar hydrophobic, but this is, on an individual basis, relatively weak. Proteins and substances such as c holesterol become embedded in the bilayer, but the plasma membrane has the consistency of vegetable oil at body temperature, so the proteins and other substances are able to move across it. The molecules that are embedded in the cell membrane also serve a purpose. For example, the cholesterol that gets stuck in there makes the membrane more stable and prevents it from solidifying when your body temperature is low. Carbohydrate chains attach to the outer surface of the cell membrane and form glycoproteins and glycolipids. These carbohydrates are specific to every person, and they supply characteristics such as your blood type. Functions of Following: Ribosomes: Ribosomes are found in prokaryotes and eukaryotes. Ribosomes in prokaryotes and eukaryotes are both protein synthesizers and contain ribonucleic acid but they differ in their composition. This is why some antibiotics can take advantage of this difference to kill prokaryotes (bacteria) while not harming eukaryotes (ourselves). Prokaryotes are single-celled and they have no nucleus. In prokaryotes the ribosomes are free floating in cytoplasm because they have no nucleus. Cytoplasm is a gel-like substance that is inside the cell membrane. It holds all the organelles of a cell. These floating ribosomes are the protein synthesizers and contain ribonucleic acid (RNA). Eukaryotes are organisms that consist of one or more cells and normally have a nucleus. The nucleus is the organelle in which chromosomes are stored and protected from the activities that occur in the cells cytoplasm. In eukaryotes the ribosomes are contained within the nucleus. Ribosomes are attached to the outer surface of the rough endoplasmic reticulum (ER) and free in the cytoplasm. Ribosomes make polypeptides that thread into the interior of the ER as they are assembled. The synthesis of RNA and protein is the main function of ribosomes. The RNA and proteins exit the nucleus by nuclear pores that are in the nuclear envelope. The nuclear envelope is made up of two membranes. These membranes have holes that are called the nuclear pores. This is how the proteins and RNA exit the nucleus and move on to the rest of the cell or are dispersed outside the cell. Endoplasmic Reticulum: The endoplasmic reticulum (ER) is part of the endomembrane system, which is an extension of the nuclear envelope. There are two parts that make up the ER, the smooth ER and the rough ER. These two parts of ER are continuous with each other. The rough ER has thousands of ribosomes that are attached to it. This makes the ER appear bumpy under an electron microscope giving it its name. It is a network of flattened sacs and tubes or channels in the cytoplasm formed by highly folded membranes. The rough ER is a continuation of the protein synthesis for those proteins that are to be transported from the cell. The newly synthesized proteins are transported to the lumen, inside of the ER, where they can begin to be modified into their complex shape. The proteins are then transported through the lumen of the rough ER to the smooth ER where further processing of the protein may occur. The smooth ER has no ribosomes to give it the bumpy appearance so it is referred to as smooth. Since there are no ribosomes, it does not make protein. Although, some of the polypeptides made in the rough ER end up as enzymes in the smooth ER. It is more tubular than rough ER and has a separate network of functions. Its main function is to make lipids, enzymes, and other proteins destined for secretion, or for insertion into cell membranes. It also plays a large part in detoxifying and recycling wastes, as well as other specialized functions. Golgi Apparatus: The Golgi apparatus consists of a series of flattened sacs with vesicles pinching off from the edges This organelle has a folded membrane that typically looks like a stack of pancakes. It receives many of the vesicles produced by the smooth ER. Vesicles are small organelles formed by a pocket of membrane pinching off from the ER to the Golgi apparatus and from the other end of Golgi apparatus. The Golgi apparatus processes proteins made by the ER before sending them out to the cell. Proteins enter the Golgi on the side by the ER and exit on the opposite side that faces the plasma membrane of the cell. Proteins are further processed along the way and become modified and packaged for transport to various locations within the cell. Some proteins will be packaged in vesicles for secretion from the cell while other proteins will be packaged to produce other organelles such as lysosomes that are used for cellular digestion. The finished products are transported by the vesicles that carry t hem to lysosomes or to the plasma membrane. Lysosomes: Lysosomes are membranous sacs of enzymes that bud from the Golgi. Lysosomes have various roles. Lysosomes serve as vessels for waste disposal. They contain powerful enzymes that break down carbohydrates, proteins, nucleic acids, and lipids in cellular digestion. They also serve as vessels for recycling the cells organic material. Enzymes inside them break large molecules into smaller subunits that the cell can use as building material or eliminate. In humans, a variety of inherited conditions can affect lysosomes. These defects are called storage diseases and include Pompes disease and Tay-Sachs disease. People with these disorders are missing one or more of the lysosomal hydrolytic enzymes. Abnormal storage causes inefficient functioning and damage of the bodys cells, which can lead to serious health problems, including death. Using the Data Analysis Exercise at the top of page 75 in the textbook, answer the following questions: Abnormal Motor Proteins Cause Kartagener Syndrome An abnormal form of the motor protein dynein causes Kartagener syndrome, a genetic disorder characterized by chronic sinus and lung infections. Biofilms form in the thick mucus that collects in the airways, and the resulting bacterial activities and inflammation damage tissues. Affected men can produce sperm but are infertile Some have become fathers after a doctor injects their sperm cells directly into eggs. Review Figure 4.25, then explain how abnormal dynein could cause the observed effects. Observe how the abnormal protein dynein alters flagella. Why would this abnormal protein cause a build up of mucus in ones airways? Kartagener syndrome is a genetic disorder caused by a mutated form of a protein dynein. People that are affected by this disease have chronically irritated sinuses, and mucus build up in the airways to their lungs. Bacteria also forms in the thick mucus. The disease typically progresses to overt bronchiectasis during late childhood or early adulthood and can ultimately causes chronic respiratory failure. This disease is affected by the cilia and flagella which are appendages extending from the body of most eukaryotic cells. Motile cilia line the upper and lower airways of the lung. Motile cilia are rod-like organelles that extend from the airway cell surface and move the mucus by synchronized beating. There are about 200 motile cilia in the respiratory tract of a healthy individual. They are responsible for movement of the cell itself or the generation of fluid flow, such as mucus. Beating coordinately, these cilia function to remove mucus and debris from the airway in a process call ed mucocilliary clearance. When the cilia malfunction, there is buildup of mucus and debris in the tract, which leads to respiratory difficulties. Immotile or respiratory cilia cause defective Mucociliary Clearance, because of the lack of uniform ciliary movement to transport particles, or mucus in or out of the organs or cells. Why would this cause infertility unless the sperm were artificially injected into egg cells? Males that are affected by Kartegener syndrome can produce sperm, but they are infertile. Sperm count is typically normal, but sperm are immotile due to the absence of dynein flagella or motility is severely limited due to a shortening of the flagella. Some can still become fathers with the help of a procedure that injects sperm cells directly into eggs.

Creation’s Contest with Evolution Essay -- Argumentative Persuasive Ed

Creation’s Contest with Evolution It began in Dayton, Tennessee-1925. A high school teacher by the name of John Scopes was charged with teaching evolution, which was illegal at the time in Tennessee. The court found Scopes guilty, and he was fined one hundred dollars. However, the Scopes trial immediately sparked one of the largest controversies in today's public school systems: should creationism still be taught in public schools? In the trial, Clarence Darrow argued that teaching creationism in public schools defies the separation of church and state (which is pulled from the first amendment). Darrow moved on to say that evolution does not disobey the first amendment. The trial denied all public schools the right to teach creationism-a belief that humans were created by a higher being-although evolution may be taught. However, Darrow's claim is being challenged. Many believe evolution disobeys the first amendment. Others believe that excluding creationism in classrooms shows an unfair bias and, therefore, gives the allusion that the evolutionary theory is a fact. This, once again, disobeys the first amendment (according to Darrow). If the only theory of origination taught in schools is evolution an unfair bias and anti-God philosophy is instilled in the students. For these reasons, both evolution and creation should be taught in public schools. Prior to the year 1925, all public schools in the United States taught creationism (Evolution Conspiracy). This widely accepted notion of God creating man was challenged by a British naturalist by the name of Charles Darwin in 1859 with the publication of On the Origin of Species by Natural Selection. In the book, Darwin proposes that, ... ...s say is legitimate. That kind of censorship and unprecedented bias has the potential to force students to believe in evolution for the sheer reason that they are not exposed to the opposing view. This in itself directly conflicts with Clarence Darrows' argument. If creationism disagrees with the first amendment, as Darrow explained, then it would only make sense that humanism disagrees with the first amendment as well. It is unfair for the students not to learn both theories of origin so Darrows' argument is proven illegitimate. The only fair way to teach the theory of origin is to explain both. Doing this will not instill Christian beliefs in the students, but rather keep the students' minds open to both sides of the two contradicting theories. As a result, students can come to their own conclusion and that is the true definition of science.

A Distinction between Sex Tourism and Romance Tourism Essay

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