Planning My economics Essay Example | Topics and Well Written Essays - 1500 words

Planning My economics - Essay Example As much as a government may attempt to meet the health demands of its population through the injection of adequate resources, fulfilling them may not be attainable. This becomes harder because most of the services offered through government channels are at no cost hence making it harder to fulfill the fundamental principles embedded. Using this as the basis, the government may allow the involvement of the private sector in meeting these needs with the overall objective being the maintenance of a healthy population that is likely to generate positive externalities. As documented above, the intervention of the government in ensuring that its population remains healthy is vital to policy development and providing the required infrastructural support. On one hand, merit goods tend to influence positive externalities such as having a healthy population that would propel an economy, but it may also influence market failure. The market failure may result from the lack of reliable health ins urance options that may lead to medical debts that may puncture a functional economy. Government intervention may be a possible intervention strategy, but it should have the interest of the population at the center by communicating the benefits and the risks of the strategies that it chooses to implement on its citizens. As a recommendation, the government should use citizens involvement in choosing the appropriate merit goods or services that best suit them rather than applying a uniform approach to health services delivery.

Impact of Consumer Credit Laws

Impact of Consumer Credit Laws In today’s consumer based society, the need for credit is undoubted. More and more individuals and organisations are reliant upon credit to undertake their day to day activities, thus the role of credit in society has magnified in unmeasurable amounts. There are also more personal credit products available on the market than when the original Consumer Credit Act 1974 was drawn up, thus there is more of a need to regulate these products and the relationships between creditor and debtor in order to avoid any unfair conduct on the part of either party. As the Government White Paper suggests: The laws governing this market were set out a generation ago. In 1971, there was only one credit card available; now there are 1,300. 30 years ago,  £32m was owed on credit cards; now it is over  £49bn. The regulatory structure that was put in place then is not the same as the regulatory structure required today. As the credit market has developed, reforms have become necessary to modernise the current regime and update it for the 21st century.[1] This evidence clearly supports the idea that the previous rules governing consumer credit relationships are significantly outmoded and outdated, and are in dire need of updating and reworking to meet the needs of a modern society. The nature of the relationship between a debtor and their creditor or supplier has subsequently become more complex and legalistic, and requires rules that govern these specific relationships without relying upon the general principles that can be found in, say, the Unfair Terms in Consumer Contracts Regulations 1999, which will be discussed in more detail in due course. This brief intends to consider the new provisions of the Consumer Credit Act 2006 and determine whether this legislation goes too far in protecting the rights of debtors, as opposed to the rights of creditors and suppliers. These conclusions will be drawn based upon consideration of the primary legislation, including the previous Consumer Credit Act 1974, as well as the apparent diverse and conflicting nature of secondary sources on this issue. It appears that a number of viewpoints could be explored, and this brief intends to do just that in order to arrive at the most appropriate conclusion. The Government had already completed a review of the 1974 Act in its White Paper, which will be discussed shortly. This Paper identified key areas where the law was not protecting the rights of consumers, and often allowed credit companies to take advantage of vulnerable individuals in order to rise to the top of what has effectively become a crowded and cut-throat marketplace. Each company is trying to sell its product to consumers, each trying to maximise the revenue it can make from it. In order to avoid innocent Britons from being exploited by unregulated corporations, the Government commission its review into the Consumer Credit Act 1974 before drafting the Consumer Credit Act 2006, in order to ensure that the new law was going to address the most salient of concerns of con sumers. It was also important to define who should be afforded protection under the new law. Should it be aimed at the general British consumer, or should it have specifications that restrict who could rely upon these provisions based upon certain socio-economic factors? This is where this report will begin. Perhaps the best place to begin would be to continue considering the DTI’s White Paper on consumer credit in the 21st century. While it does not consider the current Consumer Credit Act 2006 in express terms due to its publication several years before its enactment, it does highlight the perceived inadequacies of the then existing consumer credit protections of the Consumer Credit Act 1974. Firstly, it appears that the Government is concerned with establishing a transparent marketplace that prevents debtors from being taken advantage of by creditors and suppliers. It plans to accomplish this by having clear and effective regulations in place to govern the use of advertising in selling credit products.[2] This intends to address the inadequacies provided not only by the 1974 Act, but also by the Consumer Credit (Advertisements) Regulations 1989 due to the recently explosive nature of consumer credit products and contracts. The rationale behind such a move by the government can only be suggested to attempt to protect the consumer against any deceptive or misleading conduct by creditors through advertising promotional campaigns that could unduly influence them into entering into consumer credit contracts which do not specifically cater for their needs or financial situations. This would be consistent with the notion that the intention of the 2006 Act is to protect the consumer/debtor more so than the creditor, due to their more vulnerable position in the marketplace. Quite obviously, disparity does exist between the negotiation and contractual powers of debtors and creditors, and thus the intention of the Government is to create a more level playing field, allowing them to do business in a manner which is not only legal, but also moral and ethical. Another way the Government claimed this will be done in its White Paper was through standardisation of the form of consumer credit contracts.[3] This would, theoretically, ensure that there are minimal difference s between the standard terms of a consumer credit contract regardless of who the credit provider was, and regardless of what the actual lending product was. Again, this clearly is intended to protect the debtor more so than the creditor, given the disparity in contractual and negotiation abilities and resources available to the two parties. The Government even intends to reflect the changes in the way we contract that have come into existence since the 1974 Act, including online contracts. The rationale behind this is that the use of the internet in contractual dealings can often lead to an increased possibility of fraud on the part of either party.[4] What this means is that one could quite possibly enter into a contractual agreement through an online method without going through the full stringent identity criteria as they might be required to if they were personally entering into this agreement at, say, a bank. Normally a 100-point ID check, or similar procedure, may be used or r elied upon by a creditor in order to ensure that they were dealing with the person whose name appears on the contractual documents. However, this may also extend to a debtor where the reliability of the credit provider could not be ascertained. This protection would then effectively protect both the creditor and debtor to ensure that the contract was reliable, and that the correct person or entity was included as a party to the agreement. Perhaps the most important aspect of the Government White Paper regarding consumer credit contracts is the introduction of more stringent licensing criteria for credit providers. The Government’s hope, in 2003, was that the reform to the consumer credit laws would give the Office of Fair Trading more power to investigate credit providers to ensure that they were complying with the terms of the license granted upon them. Previously, the DTI claimed that the tests that a credit provider was required to pass to gain a license only determined whether they initially met these criteria, and did not illustrate whether they continued to meet the criteria, and thus remain fit to provide credit to consumers.[5] This would, theoretically, maintain the integrity of the consumer credit industry, making it much safer for consumers to deal in the sometimes overwhelming credit market. Again, this appears to be protecting the consumer’s interests more so than those of the credit supplie r. The DTI has identified a number of areas that the Consumer Credit Act 1974 was lax in upholding and protecting in the interests of consumer credit, and it would appear that, based upon the general consensus of this White Paper (a fundamental research document that highlights the Government’s intention in reforming particular laws) that the DTI is more concerned about consumers being taken advantage of due to developments in the credit market that tend to fall outside the scope of the 1974 Act. This is mainly due to social and technological advances that were not within comprehension at the time the 1974 Act came into enforcement and a lack of reform since that time. However, while the shortfalls of the Act have been duly illustrated by the DTI, what if a consumer continues to have a problem with a credit contract? To what institution do they turn to exercise their right of redress? The DTI uses its White Paper to harangue the idea of the Financial Ombudsman Service being e mpowered to investigate contractual dispute involving consumer credit. This would create an alternative dispute resolution pathway that may ultimately avoid the pomposity, risk and financial burden that was previously required in order to take a matter to court. Rather, this would make the dispute resolution procedure much more appealing and affordable to a consumer, giving them more opportunity to vindicate their legal rights where they might otherwise be precluded from doing so due to pressing financial commitments. This does gear itself towards the consumer more so than the creditor, as a credit providing company would presumably have a greater access to legal expertise and resources by comparison to the individual person, thus the DTI found it prudent to address the shortfalls of the 1974 Act in protecting individual debtors. While these have all been appropriately illustrated by the DTI’s White Paper, it is important to note that this was simply and analysis of the 1974 Act in conjunction with today’s developing credit-based society, and does not in itself give rise to any legal effect. It does, however, point out the reasons behind the Government’s wish to reform consumer credit laws, and gives one a way to measure the effectiveness of the now enacted Consumer Credit Act 2006 by applying these criteria. It is now important to consider the express provisions of this Act in order to determine whether these shortfalls identified by the DTI have been adequately addressed and protected by the new Act. Before considering the possible codification of the DTI’s discussion in the Consumer Credit Act 2006, it is important to establish the scope of application for this Act. It does not apply to businesses or corporations who enter into consumer credit contracts solely for business purposes. Rather, it serves to protect individuals that may be at less of a negotiation or contracting position than what a business would which may have access to virtually unlimited capital. The 2006 Act defines an ‘individual’ as: (a) a partnership consisting of two or three persons not all of whom are bodies corporate; and (b) an unincorporated body of persons which does not consist entirely of bodies corporate and is not a partnership.[6] The inclusion of these two categories as ‘individuals’ for the purposes of the Act gives more people protection under the Act than what may have been afforded otherwise under the 1974 Act, thus ensuring more consumers are protected. It clearly precludes large businesses and corporations from seeking protection under the Act, thus ensuring that only those who may not necessarily be able to provide their own legal protection are protected by law from being taken advantage of. Additionally, section 2 of the 2006 Act removes the previously existing financial limits for protection under the Act ( £25,000)[7] thus broadening the scope of application, however section 3 excludes consumers with a ‘high net worth’ from also obtaining protection under the Act, which subsequently re-limits the scope of application to those consumers who really are in need of consumer protection. The presence of these provisions in the 2006 Act suggests that the intention of the Act is to provide protection for those that may otherwise be at a disability to do so of their own will and accord. One of the most important changes that the 2006 Act has made to consumer credit regulation is the ability of a court to now hear matters relating to unfair credit relationships. The powers of the court in such circumstances have been defined, as have the procedural requirements for bringing such a matter before a court.[8] Under the newly amended sections of the 1974 Act, a court must have regard for the following factors when adjudicating on the issue of an unfair relationship: (a) any of the terms of the agreement or of any related agreement; (b) the way in which the creditor has exercised or enforced any of his rights under the agreement or any related agreement; (c) any other thing done (or not done) by, or on behalf of, the creditor (either before or after the making of the agreement or any related agreement).[9] Additionally, the remedies available to the court include: (a) require the creditor, or any associate or former associate of his, to repay (in whole or in part) any sum paid by the debtor or by a surety by virtue of the agreement or any related agreement (whether paid to the creditor, the associate or the former associate or to any other person); (b) require the creditor, or any associate or former associate of his, to do or not to do (or to cease doing) anything specified in the order in connection with the agreement or any related agreement; (c) reduce or discharge any sum payable by the debtor or by a surety by virtue of the agreement or any related agreement; (d) direct the return to a surety of any property provided by him for the purposes of a security; (e) otherwise set aside (in whole or in part) any duty imposed on the debtor or on a surety by virtue of the agreement or any related agreement; (f) alter the terms of the agreement or of any related agreement; (g) direct accounts to be taken, or (in Scotland) an accounting to be made, between any persons.[10] Essentially these provisions allow a debtor to challenge a consumer credit contract on the basis of it being ‘unfair’ to them, and empower a court to take remedial action where the law was previously vague and uncertain. It affords the debtor further protection from a creditor, given them a clear indication of their rights where they believe they have fallen victim to unfair conduct. It may serve to exonerate them from a contract they were having difficulty to adhering to because the terms were quite clearly outside their ability to keep to, or similar arguments. While this does not fall under the jurisdiction of the Ombudsman, which will be discussed shortly, it still allows a debtor to seek protection from the law from a consumer credit contract that they must have otherwise been contractually obliged to perform. This does not suggest that avoidance of a contract under these provisions is easier by any means as just cause still needs to be shown pursuant to the rules a nd principles of evidence and court, however there is no disputing the fact that this statutory remedy is available to those who are in dire need of exercising it where a contract can be construed as being unfair. Unfairness may result from the terms of the contract itself, or from any conduct by the creditor arising after the commencement of the agreement, thus this legislation appears to be catering more for the debtor than the creditor. These provisions specifically cover, in their express terms, any unfairness arising from the conduct of the creditor, as does not relate to the debtor as such. When viewed in conjunction with the application and definition provisions outlined above, it is clear that this law only intends to serve the individual, and not the creditor. In addition to the ‘unfair relationship’ protection through the courts afforded to debtors by the introduction of the 2006 Act, it also contains an alternative dispute resolution pathway that can often avoid a long and arduous litigation process. Sections 59-61 of the Consumer Credit Act 2006 confer powers upon the Financial Services Ombudsman to hear any disputes that involve licensed persons (i.e. a credit provider company licensed under the 2006 Act, which will be discussed shortly), and will also bind these license holders to abide by any decisions made by the FSO in accordance with Schedule 2. Section 59 of the Act requires that any person holding a license to provide consumer credit must submit to the jurisdiction of the Financial Ombudsman Service in order to resolve any disputes which the FOS is empowered by the Act to hear. In order for the dispute to fall within the scope of the jurisdiction of the FOS, it must meet the eligibility criteria outlined in the new section 226A of the Financial Services and Markets Act 2000 (inserted by the 2006 Act), which are: (a) the complainant is eligible and wishes to have the complaint dealt with under the scheme; (b) the complaint falls within a description specified in consumer credit rules; (c) at the time of the act or omission the respondent was the licensee under a standard licence or was authorised to carry on an activity by virtue of section 34A of the Consumer Credit Act 1974; (d) the act or omission occurred in the course of a business being carried on by the respondent which was of a type mentioned in subsection (3); (e) at the time of the act or omission that type of business was specified in an order made by the Secretary of State; and (f) the complaint cannot be dealt with under the compulsory jurisdiction.[11] Essentially, if the complaint is one that falls under the compulsory jurisdiction of the Financial Ombudsman Service that is granted under section 226 of the Financial Services and Markets Act 2000, then it will not fall under the new consumer credit power. The presence of these provisions makes it more effective and less costly for an aggrieved person to raise a dispute with a consumer credit contract that they have entered, which can (and most likely will) avoid the matter proceeding before a court. This makes the dispute resolution process more accessible for individual persons that may not have otherwise had the available funds to commence a legal action in court. Finally, the other main practical change that the Consumer Credit Act 2006 has made to credit law is the introduction of more stringent licensing criteria for businesses and companies wanting to enter the market to sell credit products to consumers. Section 38 of the 2006 Act inserts a provision in the 1974 Act at section 33A which empowers the Office of Fair Trading to make regulations that will govern the distribution of licenses to these parties. This allows the Government the flexibility to adapt the regulations to address the changing social climate in a way that the broad framework of the 1974 Act could not. This would, then, allow the Government to impose regulations on advertising and other consumer interaction which may otherwise escape the broad legal framework of legislation. Additionally, section 44-46 of the 2006 Act specify requirements in relation to the provision of licensing assessment information (and changes thereof) by license applicants to the OFT, which allows t he OFT to make a continual assessment as to the fitness of a party to hold a credit provision license. This was one of the key shortfalls that the White Paper suggested, and appears to have been addressed adequately in the new law. Civil penalties of up to  £50,000 now apply if a licensed person or business fails to comply with the conditions of its credit provision license.[12] Finally, an appeals system has been established by sections 55-58 of the 2006 Act which allow for appeals against a decision by the OFT to grant a license to an applicant, which gives rise to a method of review via the newly established Consumer Credit Appeals Tribunal. This provides for an administrative review of the decisions handed down by the OFT in relation to their licensing and regulative powers within the Act, which may be able to be judicially reviewed by the Court of Appeal with the leave of the Court (on questions of law, not fact).[13] This appeal procedure again appears to be consistent with the notion that the rationale of the Consumer Credit Act 2006 is to protect the rights and interests of debtors as opposed to those of creditors and suppliers. It appears that the idea of this Act is to saturate the market with new regulations that control the way creditors enter into consumer credit contracts with their debtors, and does not necessarily cater for the needs of creditors as such. In conclusion, it would appear that the Consumer Credit Act 2006 caters more so for the rights and interests of debtors than those of creditors, however it would be difficult to maintain an argument to suggest that the law goes too far in protecting these rights. The Government White Paper identified a number of salient points that the 1974 Act did not address, and the Government has appeared to have legislated accordingly. Given that the previous 1974 Act was significantly outdated and not particularly relevant to modern society in both a social and legal context, there was a real need for this law to be updated in order to afford consumers maximum protection against otherwise unfair conduct that was not recognised in law. The law was updated more out of necessity than out of spite for consumer credit providers. The application of these laws does not generally appear to infringe on the rights of credit providers, it merely suggests that the market needs more stringent controls to av oid certain parties taking advantage of otherwise vulnerable individuals. The rationale behind the introduction, as the White Paper suggests, was to create a fairer and more transparent consumer credit market, which gave the individual more competitive and legitimate rights that they are now able to exercise in an attempt to remove the disparity between consumers and credit providers in terms of their negotiation and contractual abilities. There appears to be no malice or ill-will by the Government towards credit providers, rather just a desire to exercise control in an area of commerce that has expanded exponentially since the law was last reviewed more than a generation ago. The flexibility provided under the new Act through delegation of regulative powers to the OFT and Ombudsman also allows the law to be updated as society dictates, which ensures that the law will always be given the opportunity to reflect the needs of consumers as the market changes. This means that this debate will continually be revisited as the market expands and changes and, if there is a need to review the law in the future, there is no need to go through the lengthy legislative process which has dragged this legislation through 18 months of parliamentary delays, especially due to the calling of the 2005 General Election after the Bill was only passed its Commons stages. This law appears to be perfect for the current socio-economic climate of the British consumer credit market, and to argue that it goes too far in protecting consumer’s rights is simply untenable. Bibliography Legislation Consumer Credit (Advertisements) Regulations 1989 Consumer Credit Act 1974 Consumer Credit Act 2006 (also, explanatory notes) Financial Services and Markets Act 2000 Unfair Terms in Consumer Contracts Regulations 1999 Government Publications Department of Trade and Industry, Fair, Clear and Competitive: The Consumer Credit Market in the 21st Century (2003), Journal Articles/Other Sources John, C, ‘Consumer Credit – The New Landscape’ (2006) 18 Compliance Monitor 9 Singleton, S, ‘In Focus: Consumer Credit Act 2006’ (2006) 29 Consumer Law Today 8 Smith, J, ‘Practice Points: Credit Where Credit Is Due’ (2006) 103.25 Law Society Gazette 34 Unknown, ‘Consumer Credit: A New Age But Old Problems’ (2004) 6 Finance and Credit Law 1 Footnotes [1] Department of Trade and Industry, Fair, Clear and Competitive: The Consumer Credit Market in the 21st Century (2003), 4. [2] Ibid, 30-33. [3] Department of Trade and Industry, as above n 1, 33-36. [4] Ibid, 37-40. [5] Ibid, 45-48. [6] Consumer Credit Act 2006, s 1. [7] Consumer Credit Act 1974, s 8. [8] Consumer Credit Act 2006, ss 19-22. [9] Consumer Credit Act 1974, s 140A(1). [10] Consumer Credit Act 1974, s 140B(1). [11] Consumer Credit Act 1974, s 226A(2). [12] Consumer Credit Act 1974, s 39A (as amended). [13] Consumer Credit Act 1974, s 41A (as amended).

The Killer Angels :: History, Battle of Gettysburg

THIS IS AN INTRODUCTION!!!!! The commanders that served under Lee were blinded by this admiration. â€Å"His presence is everywhere. They hush when he passes, like an Angel of the Lord.† (pg. 63) Even as he walks down the street people salute him, bow to him, praise him. â€Å"A Pennsylvania woman flirted, asked for is autograph.† (pg. 78) Within the army Lee is worshipped by all members, low and high. When something goes wrong they will find someway to avert the blame from Lee, even though it may have been his fault, to someone else. â€Å"They love him. They do not blame him. They do impossible things for him.† (pg. 250) On the second day of the battle, when everything goes horribly wrong for the Confederate Army, no one blames Lee for the loss. It was his idea to (what was his plan again..) and yet after it failed everyone took it out on Longstreet. As Goree says on page 240 â€Å"They can’t blame General Lee. Not no more. So they take it out on [Longstreet].† Although Lee is one of the most loved Generals of all time, I don’t think he enjoyed it all that much. On page 79 he says that â€Å"Fame came too late. I would have enjoyed it, if I were younger man.† The Confederate Army could, and probably should, have won the Battle of Gettysburg. They started off the battle by overpowering the Union Army on the first day. Everyone is in good spirits and feeling that â€Å"with every step of a soldier, with every tick of the clock, the army was gaining safety, closer to victory, closer to the dream of independence.† (pg. 110) With this in mind they charged into the second day. This is when everything went wrong. Lee’s plan was to â€Å"attack en echelon, to take Cemetery Hill in reverse.† (pg. 184) Although most of the Confederate Army was against the procedure and thought it wouldn’t work, no one could persuade Lee to change his mind. And so the army went ahead and attacked the Union Army following Lee’s plan. The battle raged on for hours and by the end the Confederate Army had suffered an unpleasant loss. If they had used a different strategy I think they could have won on the second day. By the third day, however, things are looking grim. Even Longstreet admits it when he is talking to Lee; â€Å"I have to tell you now, sir, that I believe this attack will fail.

Knowledge gap

The knowledge gap hypothesis presumes that you will know more about these topics than people whose educational level is lower than yours, even if the topics don't directly concern your everyday life. -Stated by Telephone, Donahue and Alien in their 1970 article they said the population Is divided Into two distinct segments: a group of better educated people who know more about most things and those with low education who know less. Low Socio-economic status (SEES) – are slightly defined by education level but also have little or no knowledge about Public affairs issues, are disconnected from news events and Important new discoveries, and usually aren't concerned about their lack of knowledge. High Socio-Economic Status – Are the opposite of Low SEES – Public Affairs issues: -According to the knowledge gap theory most people gain knowledge as a topic becomes more heavily covered by the mass media, but the higher educated segment of the population will gain more kn owledge.Knowledge gap says nothing about the individuals innate intelligent, the theory is just saying that high-educated people have several advantages. Such as: 1. A greater level of stored knowledge on a variety of topics. 2. Better attention, comprehension, retention, and greater communication skills. 3. More reliance on the information-oriented print media rather than the entertainment-oriented non-profit media 4. Greater numbers of relevant social contacts or friends who are likely to be knowledgeable about and discuss pubic affairs topics. Low SEES can be called Medal Poor -High SEES can be called Media Rich Programmatic Research- is research that builds on itself, where one study outcomes raise questions and other researchers take up the challenge to answer. Points that might reduce the knowledge gap 1 . The type of issue, especially an issue that really gets people's attention 2. The size and type of community – small, rural, homogeneous areas have lower gaps; clues with pluralistic subcultures have higher gaps. 3. Owe much and what type of media coverage a topic gets – cigarettes link to cancer is constantly in the news (lower gaps); Sexual harassment incidents get intense but inconsistent coverage (Higher gaps) 4. An Issues level of conflict such as police brutality (lower gap) vs.. Covers about urban revitalization (higher gaps) – 3 early concepts explored 1 . Socio-economic deficits 2. Differences -sass's – Interest in topics became the primary research. – Print Media is more informative than TV.High SEES group still watches newscast -sass's – focused on health, environment, and new technology. – Communication campaigns became designed to educated or persuade and television interest increased. Politics became a focus -Higher SEES use Schemata. Chapter 27 – principle of relative constancy -Charles Scripps – 1959 released economic report of media. -Macomb's used the observations from Scr ipps to offer a theory called the Principle of Relative Constancy. Some of his predictions were: 1 . The proportion of money, viewed as a part of the gross national product(GNP), spent on the mass media remains fairly constant over time. The Constancy aspect. 2. Because the economy varies from boom to depression, the GNP also will vary. The relative part of the theory. 3. Because the expenditures on mass media are relatively constant, new media must fight it out with existing media. This is the functional equivalence part.Chapter 28 – Cultivation -The media-culture connection got its first great push from the Payne Fund studies in the asses and asses, an investigation of the impact of movies on young people. Payne Fund Findings: -George Greener – Violence index -Grinner's definition of violence – â€Å"the overt expression of physical force (with or thou a weapon, against self or others) compelling action against ones will on pain of being hurt and or killed or threatened to be so victimized as part of the plot. Cultivate -Two types of Cultivation -Mainstreaming – a relative commonalty of outlooks that television tends to cultivate – Resonance -suggest the power of television to influence popular imagery increases when seen on the screen â€Å"resonates† with the viewer – seems consistent with experience – it is more likely incorporated into the person's notion of â€Å"reality'.

Fireweed Case Study Essay

Introduction Fireweed is a short story written by Skye Brannon about a special day in Baluta’s life. Baluta is an uneducated carpenter in U.S.A, and lives with his brother Jato and the brother’s wife Sama. Baluta has had a rough background, he was witness to his father and sisters death, and had to flee to America, from Libya from war and hate. Main Theme There are several themes in the story, such as, culture difference, racism and poverty, but all these, are sub-themes. The overall main theme of this short story must be to cherish the present, and take nothing for granted. The fact that Baluta saw his dad getting killed and his sister raped and killed, is a view into an absurd world of violence and hate, described without many feelings. â€Å"He saw his father, swinging from a tree, on a rope†[1], and â€Å"He saw little Alonso’s ten-year old body, limp, naked in the sun, being passed from one soldier to another, his pants mingling with the dust.†[2] This is a matter of course that he will never take anything for granted, because he has learned that he will never know when it’s going to stop. A more positive sign on the main them, of this short story, is that he is actually having a better life now, in America. And he won’t take that for granted even though, there are a lot of other people with muc h better conditions, like Tiffany. The way the story is structured Fireweed is written with a third person narrator who is omniscient. All the actions are seen from Baluta’s point of view. â€Å"Cold like Kpatawee Falls back home, Baluta thought. Yes, today would be a remembering day† page 9, line 9. In this quote it’s clear that the narrator is omniscient since he knows what Baluta thinks. The story is told in the past tense, except for the quotes which are in present. The short story is simple to read, because of the uncomplicated language that is being used. It also makes it easier to read when something in the text that catches your attention, like the dialogs between the two brothers, Baluta and Jato, because they speak with an African accent. â€Å"†Dese Americans,† Jato said, â€Å"if you tell dem your mandika name, dey look loke you’ve given dem a riddle†Ã¢â‚¬ .[3] The story also contains a few flashbacks which might get a bit confusing. It is not possible to figure out the story before the end, because a lot of important details are revealed that you won’t be able to guess. It keeps the author’s attention, and helps out to keep the story exciting and interesting. A Characterization of Baluta/Joel Baluta/Joel is a person that doesn’t seek conflicts or controversies with other people which you can see on page 9, line 17 â€Å"Baluta felt awful for this, but he had to work to get a car, and needed a car to get to work† and again at page 10 when Tiffany asks Baluta to smash down some dirt which in the theory isn’t his job, but he just says â€Å"Sure, miss† because he is a nice person. â€Å"Could you please smash down that pile of dirt?† Another example of Baluta trying to fit into the new society that he is in, is shown by him changing his name from Baluta to Joel, just so he won’t be a victim of racism. The fact that Baluta fled from Liberia to a country where he has all these opportunities, that U.S.A provides, makes him not take anything for granted, and I think that Skye Brannon took Tiffany into the story on purpose because she is the exact opposite of Baluta, a rich, white, lady. â€Å"†This has got to be fixed.† She looked at Baluta for confirmation. Baluta nodded, but saw nothing wrong. The cabinet was of beautiful hardwood.†[4] This quote helps to characterize both Baluta and Tiffany. The Setting The story is built up around three environments; the first one is in America, where Baluta lives with his brother and the sister in law. They live very poorly, with cold water in the shower and a car in bad condition, which they don’t have enough money to fix. â€Å"When he was several numbers away, he took his foot off the gas. He hoped he could glide to a stop in front of the correct house, otherwise, the Swiss Chevy would let out a loud squeal when he hit the brake.†[5] This quote shows that they have to take a lot of alternative methods in use, to make it through the day, like saving money on the car. The next environment is even poorer, we hear about his life in Libya. â€Å"When they would get back to their hut, a square in the shanty-town quilt shadowed by a mountain, Alonso would always tell Grandma Awa that Baluta had caught some fish.†[6] Even though Baluta lives in the lower economic class in the U.S, it’s still far better than what he would have obtained in Libya. The last environment is at Tiffany’s house, where Baluta has a job to do. She is a rich woman with a big house, big lawn, and apparently also big signs of prejudices against African people. â€Å"When he got out of the car, he noticed a frightened look on her face and that she clutched a phone in her hand†.[7]In this quote it is easy to see that, because she belongs to the upper-class, she feels that poorer people might only be here to steal. This is important because it proves the point of one of the story’s theme, racism.

piercing essays

piercing essays Despite the wishes of my mother, bod mod is my thing. I have 12 piercings (currently, I'm getting more as soon as I'm all healed up) and 2 tatoos (one of which I just got today, by the by). This little essay is about my most resent acquistion; my nipple rings. The first thing that you need to know is that my folks are both rather conservative. They have repeatedly warned me against coming home with a piercing in my face, other than my ears. They don't care what else I do, but if they can see it while talking to me, then it gets torn out. And if you knew my father, you'd know that they're serious. In their words, they don't want their daughter looking like a drug addict. Considering where we live, it's a valid fear. But I already had 4 holes in my lobes, one in my outer conch, and my belly button. So I was running out of places to puncture. After graduation, I got hit hard core by the piercing fever. So I logged onto BME (where I always go when I'm looking for inspiration), and found the pictures of nipple piercings. They were so cute! And just the right mix of femmy and kinky that is quickly becoming one of my trademarks. I had found what I wanted to do. Unfortunatly, I had to wait almost 2 months before I could carry out my plan. At the time, I was working at a paper mill, and wanted to avoid any possibly uncomfortable situations. So I started to research where I wanted to get them done. I had gone to 21st Century Studio of Tatoo the fall before to get my belly button done, and knew I didn't want to go back there. I hadn't been given any choice about jewelry, and was all in all unimpressed by the whole situation. But what did I expect from a tatoo parlor? I had heard lots of ads for Black Hole on the radio, and decided to go check it out. Built in a converted house, Black Hole is intimate, but not so much so that it could be called small. There's a waiting area and the main desk downstairs, with several display cases of all kin...

Transforming of South Korean Economy and the “Chaebols”’ Riddle Essays

Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle Essays Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle Paper Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle Paper Nadezhda Sarelska ID: 10210680317 EMA- Chinese Economy School of Economics Fudan University Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ riddle Political Economy of East Asia Term Paper Professor Dingping Guo October, 2012 Shanghai, China Table of contents: 1. Introduction 3 2. The beginning of Korea 4 2. 1. Collective will for success of South Korea 6 3. South Korea and modern economy 7 3. 1 Reasons behind Economic growth 8 4. The Birth of â€Å"Chaebols† 9 4. 1 Factors of Development of â€Å"Chaebols 10 4. 2 â€Å"Chaebol† and 1977 Asian Crisis 14 5. Case Study of Samsung Group 15 6. Conclusion and Recommendation 19 . Reference List 21 1. Introduction South Koreas ‘s significant transformation an evolution from impoverished to high-income economy during three decades starting from 1960s to 1990s is one of Asian phenomena famous as -â€Å"Four Asian Tigers†- a term used to describe the tremendous performance of four Asian economies Hong Kong, Singapore, Taiwan and South Korea. Between the early 1960s and 1997s, the four Tigers rapidly industrialized and maintained sustained high growth rates (Ref*1). Today, Korea is an example for a market economy, one highly developed country which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies(Ref*2). In 2010, Korea’s trade volume amounted to US$892 billion, ranking the country the 7th largest exporter in the world(Ref*2). Korea’s shipbuilding sector currently accounts for about 34% of the world’s total shipbuilding orders. As a major auto manufacturer, Korea produces over 4. 2 million vehicles annually. The success of South Korea is often called The Miracle on the Han River and it has been identified by several factors where the presidency of Park Chung-Hee (1961-1979) played a vital role. Under the President Park Chung-Hee’s era, the government played a dominating role in a country’s economy. His policies of shifting away the focus from import substitution strategies towards export- orientated industrialization and technical progress, favored the development of South Korean economy and establishment of a strong business environment appeared with a result of large conglomerates called â€Å"Chaebols†. To be defined as a â€Å"Chaebol†, an organization should satisfy two conditions: it should be owned by family /relatives members and it should have a diversified business operations ( REF*3). The â€Å"Chaebols† have created such a diversification that, as Anna Fifield said in her article, â€Å"You can be born in a Samsung hospital and end up in a Samsung mortuary† (Ref*4). The giants of yesterday are one of today’s best brands in technology field as Samsung, Hyundai and LG. They and the other â€Å"Chaebols† was the core of Korean spectacular growth and still their success can be accepted as South Korea’s success. How and why Korean’s economy was shaped by historical events and what are the reasons behind â€Å"Chaebol† establishment? What was the impact they have created over South Korean economy and could we say â€Å"Chaebols†are the reason for the Miracle on the Han River. ? Case study of Samsung will be performed in order to give us better understanding of one of the largest and famous â€Å"Chaebol† ever and its influence over South Korean economy. 2. The Beginning of Korea The land of the morning calmâ€Å"–this is the meaning of Korea’s original name â€Å"Choson†. The time of establishment of this country and its exact geographic location is still a matter of scientific research even it often believed that human activity in Korea can be traced far into the Pal eolithic period, about 500,000 years ago (Ref*5). In Asia, Korean’s history is known to be second longest following that only of China. (Ref*6) But there is a belief, according to the Korean legend, that the God-King Tangun a legendary figure born of the son of Heaven, (which existence is still disputable among scholars) and a woman from a bear-totem tribe founded the Korean nation in BC 2333(Ref* 7). Not many present- day nations can be praised with so long and rich history even this countrys time has been shaped by difficult and frequent invasions ( as many as 900 by some accounts)( Ref*6), wars and influence from its neighbors. The beginning was often said to be the time of â€Å"The Three Kingdoms† â€Å"Silla† â€Å"Goguryeo† and â€Å"Baekche† where â€Å"Goguryeo† was known to occupy the Northern part of the peninsula from the Chinese border to the Han River, while â€Å"Silla† and â€Å"Baekche† have dominated the Southern regions (Ref. 11). But in 668 AD â€Å"Silla† (668-935) unified the Korean peninsula and start developing a country with an economy, a culture and Buddhist philosophy. † Koryo dynasty† from which the English name Korea originates succeeded â€Å"Silla† in 935 and the country’s boundaries reached level which is very similar to its current size today. â€Å"The Choson dynasty† displaced â€Å"Koryo dynasty† in 1392 and moved the capital to Hanyang-gun (todays Seoul) in 1394. Soon after Confucianism replaced Buddhist philosophy and was adopted as the countrys official religion and â€Å"Hangul† -the Korean alphabet was invented. Korea’s history was filled with prosperity, but also a lot of suffering coming from external forces like Japan, Mongolia and China and this provoked Korean closed-door policy, famous as â€Å"Hermit kingdom†. In the beginning in 1876, the Japanese forced a series of Western-style trade agreements on Korea, leading to Japans annexation of the country in 1910. Due to growing anti-Japanese sentiment, in 1897 King Kojong declared himself to be emperor of the Taehan Empire, an independent Korea (Ref*9). Eventually this move helped Korea to preserve its own language, culture, traditions and sense of identity (Ref*6). However, during the Russo-Japanese War (1904-1905), Japanese forces moved onto the peninsula despite Korean declarations of neutrality and Japan-Korea Protection Treaty in 1905 gave Japan virtual control over Korea. Korea was colonized by Japan in 1910 year, but exactly at that time many modern aspects of Korean society emerged included rapid urban growth and infrastructure, the expansion of commerce, and forms of mass culture such as radio and cinema, which became widespread for the first time. Later had to endure the Korean War (1950-53), but it has achieved amazing economic growth in a short period, dubbed the Miracle on the Han River. (Ref* 2) 2. 1 Collective will for success of South Korea During Japanese influence starting 1920 and later (1937-45) – harsh measured reintroduced by Japanese, Korea had to go through a lot of confusion coming from changes in values and social order after Japanese colonial rules was introduced (Ref* 610). During its occupation, Japan built up Koreas infrastructure, especially the street and railroad systems. However, the Japanese ruled with an iron fist and attempted to root out all elements of Korean culture from society. People were forced to adopt Japanese names, convert to the Shinto (native Japanese) religion, and were forbidden to use Korean language in schools and business. Also the temp of development was rapid and the country’s population was inexperienced and unprepared in economic aspects and knowledge because was coming for monarchy of over 1000years compared to Europe and Japan. Ideological confrontation was visible in Korean society and soon after status of families with long traditions; history and wealth were no more subjects of respect and power, society followed the â€Å"money ideology† which was a way of survival. Soon after the democracy was introduced by USA in August 15, 1945, with the end of World War II, The Soviets and Americans failed to reach an agreement on one unified country and government, so in 1948 two separate governments were established the Republic of Korea in Seoul called -â€Å"The American zone†, and the Democratic People’s Republic of Korea in Pyongyang, North Korea called -â€Å"The Soviet zone† (Ref* 10). This is how the challenge for South Korea and â€Å"The American zone† has started with era of knowledge, where an investment of fond and solid education and hard work were again respectable, thus offered an equal chance to success to everybody despite their origin and status. The whole society desired a better life and this is how they have adopted the concept that â€Å"economic development is a cultural product representing the collective will of the people† (Ref*6). 3. South Korea’s modern economy In July 1953, after three years of bloody fighting in which around three million Koreans, one million Chinese, 54 000 Americans and several other nations including Turkish were killed, the Korean War ended in a truce with Korea still divided into two mutually antagonistic states – American influenced zone in South and Soviet influenced in North, which were separated by a line called â€Å"De-Militarized Zone† (DMZ). Korea has remained divided ever since(Ref*10). After the official division of Korean peninsula, a modern economy study was introduced by USA in South Korea which was differentiated from Marxism idea popular in Japan. However, after 1965 when Japan and South Korea improved their diplomatic relationships, Marxism prevailed into their economy simply because was more community oriented, instead individualistic something which was and it is a basic concept of Confucianism which was influenced South Korea in their earlier stages of history. The ideas of individualistic consumer with no intervention of government for business were too far away of Japan’s model of successful rapid grow which later in years South Korea adopted and adapted into their economic situation Table 1 – Comparison between USA and East Asian capitalism 3. 1 Reasons behind Economic growth Mutual desire for better standard of living and a chance for success were deeply rooted into society’s mind, after the country was left in poverty in the end of Korean War in 1953. The significant growth of South Koreas economy which became independent in 1945 began in May of 1960 when Park Chung Hee and a group of other military officers of the South Korean army took over the control of the government or â€Å"coup d’etat†(Ref* 11). Soon after that in 1961 Mr. Park Chung Lee became president of South Korea and the strategic planning for economic development started focusing on lifting up the South Korean economy out of poverty. The strategy Park Chung Lee developed was based on that of South Koreas nearest rivals Japan rather than Western policy advisers. (Ref*12) Export –oriented policies were implementing as a tool trying to focus the shift into international business. South Korea simply had to survive and find a way to expand economically, but looking outside of its peninsula because with its small and limited land and natural resources caused from its mountainous terrain and climate, as well the small size of the domestic market shaped the Paradigm shift in their economy†. (Ref*13) The emphasis was added on communal productivity, education and quality as Japan did with examples of so called Keiretsu. Another measure was the military-dominated government which installed itself after the coup in 1961 quickly announced an end to the corruption of the First Republic and its intention to use economic growth and development through industrialization to legitimize its authority (Ref* 14) and imple menting state policies providing the basis for successful late industrialization( Ref*15). Twenty four of the leading businessmen were arrested. The founder of Samsung, Lee Byung Chull, escaped this treatment only because he was out of the country at the time. When Lee Byung Chull returned to Korea he met with Park and agreed to cooperate with Parks economic development program. Later Lee and other prominent business leaders offered to donate all or a substantial portion of their fortunes to the government. They ended up paying fines but not giving up their businesses (Ref* 15). 4. The Birth of â€Å"Chaebols† In the process of export-led market economy the government ruled by President Park Chung Lee for 18 years reign (1961-1979) decided to work with five- year’s plans, starting the first one in 1962 which was focused on developing the industrial base and setting the stage for South Korea’s economic prosperity. (Ref* 16) After this step, the government encouraged their local, domestic business enterprises to work and expand by choosing which markets must be developed and allow entry only to several of those local companies. To be accepted as â€Å"Chaebol† a company need to be family-owned and usually this type of organization is influenced by growth-oriented family-centered business, where family male has the dominant role in a hierarchy and almost unlimited power to which his subordinates are loyal (Ref*17). This idea of Pyramid frame of working had an origin of Confucianism which teached several concepts as social hierarchy, harmony and â€Å"the concept of saving face†, kindness and care; modesty and diligence. For instance, in Japanese companies â€Å"had more visible mutual obligation which is unlikely to be seen in â€Å"Chaebol† structure, where the boss is superior compared to employees. As an incentive for local companies, financial motivations were offered such as low- interest loan, tax breaks and others simply because all the banks were nationalized as well for the purpose of economic development. This is how so called â€Å"Chaebols† -which literally mean â€Å"business association†, were born into South Korean history. 4. 1 Factors of Development of â€Å"Chaebols† With its fast speed of industrialization, the economy nourished and supported heavily â€Å"Chaebols† which were often â€Å"family-centered† enterprises. Their brands, products and companies diversified quickly and soon they were responsible for the majority of the exported products which simply meant that private owned companies were responsible for biggest share of South Korea economic development. Not only have they expanded in international level, but also started to grow bigger in local land. Brands like Samsung, Hyundai and LG were a measure for quality, technology and innovation. We could say that even today the same conglomerates are still driver force in Korea. Another â€Å"significant economic decision made by government’s planners was to focus market development through export-oriented industrialization â€Å"(Ref* 18). Because of its enough to produce, but less to consume population and still not existing local markets, all efforts were putting into creating international markets where South Korea could have an advantage and generate a profit. The results started to be visible in fast digit rate at average 10% annual growth between 1962 and 1994. The large and fast expanding multinational conglomerates enjoyed strong support from government and good success of foreign markets. While the contribution of agriculture to the economy declined from 37% in 1965 to 3% in 2008, the industrial sector increased its contribution from 20% to 37%, that of services from 43% to 60% and exports remain the cornerstone of this economic development with their share in GDP accelerating from 8% in 1965 to a whopping 53% in 2008(Ref* 13). Table 2 Share of Top 30 â€Å"Chaebols† in South Korea’s GDP Source â€Å"Chaebol Powered Industrial Transformation† by Ahn Choong-yong, Korea Institute of Public Administration and Korea Times. April 2010 All the conglomerates were liberally permitted to access foreign loans promoted by the government to support fast-paced economic development, while in contrast outflows of domestic capital were effectively curbed ( Ref* 19). The Foreign Direct Investment (FDI) was also restricted in order to keep positive economic growth, except in cases where technology and know-how were involved. In exchange of this, all the â€Å"Chaebols† were obliged to fulfill ambitious plans and to develop for the next three decades. This financial help actually protected the companies from bankruptcy and soon they turned on into â€Å"octopus†, regulating and expanding into more and more branches, industries and brands, even not related to their core scope of business; increasing their power and wealth into public level and became too difficult their decisions to be influenced. For example, a ship building company could decide to enter into a market of cosmetics products or pharmaceutical industry. Of course, simultaneously they opened more factories, created jobs and promoted economic boom. Basically they became a voice in South Korea. In this manner they grew so large that the top fifty â€Å"Chaebols† had sales equivalent to almost 94% of the total national GDP by 1984( Ref*20). In fact as a second measure introduced from President Park Chung Lee was diversifying of â€Å"Chaebol† into heavy and chemical industries, simply to be protected from North Korea . ( Ref*21)As we can see on Table 2, their share in GDP increased dramatically from 9,8 % in 1973 to 29,6% 1989 Table 3 The Growth Rate and Total Factor Productivity by country According to International Institute for Management, South Korea is ranked 5th in terms of education level, with 40 percent of the population completing higher education after high school. This movement into very strong foundation of education was resulted of democracy brought by USA , President Park Chung Lee’s reforms, but also Confucianism’s which, was earlier in history, influenced the social mind of South Korea. Understanding that high level of education and qualified human resources are powerful driver of economy and quality was one of the best tools for sustainable growth. Education system which was a resource highly appreciated by traditional values in the society and was a chance for everybody in quest of success. Moreover, South Korean workers work more hours of the day than most countries reflecting 10 to 13 percent increases in productivity per year( Ref*22). The willingness of hard-working and co-operating were very important for the efficacy and quality of the economic boom. Krugman (1994) claims that the â€Å"Four tigers† achieved the rapid growth rate because they successfully managed the resources associated with high employment share to population, efficacy of work, up-graded educational standards and the high rate of investment(Ref*19). Looking into Table 3, it is clear that South Korea achieved the highest grow rate of 8,5% per cent annually from 1960 to1994. Table 4 Domestic Saving per GDP (per cent) Another tool which helped â€Å"Chaebols† to flourish was high-saving ratio, which was initially originated from uncertain life conditions and missing social system. In Korea the social welfare system was not well established (Ref*23). In this kind of situation, similar to China’s beginning, individuals are trying to save as much as they can in order to ensure their future. Furthermore, high savings and investments also contribute to capital accumulation. For example, Kim and Lau (1996) extend their input-analysis which covers Indonesia, Malaysia, Thailand and the Philippines reveal that capital accumulation associated with high domestic saving and investment level significantly contributed to strong growth in East Asia. Also, Collins and Bosworth (1996) emphasize that saving, investment and government policy are the main contributor to high capital accumulation ( Ref. 19) 4. 2. â€Å"Chaebols† and 1997 Asian Crisis The financial crisis that hit Asian countries in early July 1997 was an unexpected situation for â€Å"Four Tigers† including South Korea which were witnessed a rapid and sustainable growth in several decades in row, offering high standard of living into their citizens, high annual growth and successful export economy. They were accepted and perceived as models of economic boom. A lot of foreign investment were flowing and then government help like bank loan , preferential policies and incentives which were used to stimulate the economy through so called multinational companies â€Å"Chaebols† . All this led to excessive diversification, a debt, a difficulty to be measured the credibility of a company and its real proportion due to unlimited bank loan with 0 interest they were given; lack of business transparency, superior managerial behavior and more. All these reasons led to so called† Asian Contagion, this was a series of currency devaluations and other events  that spread through  many Asian markets. As a result of the crisis, South Korea adopted different protectionist measures, government and financial reforms to ensure the stability of their own currency and reforms inside of â€Å"Chaebols† structures. ( Ref*24). 5. Case of Samsung Group Samsung Electronics integral part of is a multinational, family-owned company with headquarters located in Samsung Town in Seoul called â€Å"Samsung Group†. Samsung Group has grown to become one of the worlds leading and respectuful electronics companies, specializing in digital appliances and media, scycrapers, petrochemicals, fashion, medicine, hotels, semiconductors, memory, and system integration. Ref *25). As journalist Anna Fifield said in her article, â€Å"You can be born in a Samsung hospital and end up in a Samsung mortuary† (Ref*4). They operate in more than 65 different countries as sales and plants; also they are responsible for appointing for more than 170,000 employees worldwide. In 2009 the company was c lassified as largest IT Company in world with biggest sales revenue of memory chips, LCD and LED displays. For TV and smart phones devices markets, Samsung is in top position, especially after launching Galaxy 2 Note competing with Apple and theirs I pad mini and I phone. Its growing share in smart phones and tablet’s market is very high with around 20% for the first quarter in 2011 compared to 16, 1% in same time previous year. [pic] Brief history and Economic Overview The Samsung Group was established in 1938 in Taegu, Korea by Byung Chull Lee and its main scope of business was export of fish, vegetables and fruits to Mainland China. In 1951, Samsung Corporation was officially established with name Samsung Moolsan which means â€Å"Three Stars† (Ref*25). The company started to grow and later in 1958 when Ankuk Fire Marine Insurance as well DongBang Life Insurance in 1963 was acquired, the name was changed into Samsung Fire Marine Insurance and respectfully Samsung Life Insurance. In 1969 Samsung Electronics and Samsung Sanyo Electronics were established, but in 1977 they also merged and diversifying started into heavy, chemical, shipbuilding, IT and other industries. The reasons behind such a diversification could be the same between all â€Å"Chaebols† examples, but very true for Samsung. They assumed that if investing into new business or a product will avoid potential risk of a single bankrupt, gaining knowledge for a technology and know-how patents; competitions and bigger market share and another factor could be because of persuading better wealth in order to ensure all the family members. ( Ref* 21) Thanks to its clever moves and business/political decisions Samsung developed excellent domestic and international market and 1974 they bought 50% of share of Korea Semiconductors, which gave them the first place of semiconductor manufacture SWOT ANALYSIS Samsung Group is one of the largest â€Å"Chaebols† in South Korea with world-class quality products and brand. The company has dominance into digital and electronic components markets, with more than 40 existing affiliated companies. Fig. 1 SWOT ANALYSES – Samsung Group STRENGTHS Strong brand and loyal customers; Leader in several markets as IT and electronics; Excellent supply chain; Capital; Confidence; Trustworthy and Credibility; Innovation; Technology level and skilled worker HR; Product Strategy WEAKNESS Serious Competition; High Marketing cost; Managerial Behavior; Centralization; Corruption OPPORTUNITIES Good economic conditions; highly disposable income local market; Government support; International relations and business expanse; Technology development THREATS Patent’s legislations; Regulatory issues; Technological changes; Economic Crisis; China Table 5 Samsung Electronics Marketing Expenses Marketing Mix for Samsung Group – 4P Product Strategy Samsung’s diversified line of products in 3D market for example which is offering LTD, LED and Plasma TV is one of best positioned into product strategy. Their electronic market is also very good example for product strategy which is one of their strengths in SWOT analyses Focusing on unique products and innovation to compete like 3D Plasma TV with unique design and functionality allowed Samsung to became a leader into this direction. Another very well presented idea of their product strategy is smart phone Galaxy Note 2 which competes directly with Apple’s I pad mini. Among some of the benefits of Galaxy Note 2 is its display, price, Android operating system, Bluetooth, slightly lighter, removable memory, flash, front camera/rear camera and few more. Ref* 26). At the moment this is the best tablet produced by Samsung and as product strategy unique was chosen and improvement inside of the functionality. Price strategy – Samsung strategy according their pricing is being available for more consumers than I pad mini/ I phone, which is persuaded as a luxury and fashionable product, thus its price differentiates – some times even double less expensive. Another factor regarding price is that Samsung produce a big amount of it’s and also Apple’s components’ which results into higher cost and price for Apple’s products on market. Thanks to diversification mentioned earlier we can see that Samsung actually have the advantage to produce by themselves most of the electronic components of their smart phones/ tablets, but also to their competitors, so they became superior in the Pyramid. Promotion strategy: This is one of most weak part of SWOT Analyses of Samsung, because it cost billions of USD in advertisements and promotions which are conducted in three continents – Europe, Asia and USA. 8 billion USD were spending in Europe compared to 3 billion in Asia and 12 billion in North America. Using famous American singer/groups such as Black Eyes Peas into their promotion strategy is adding high cost for the â€Å"Chaebol†. Product Placement: The strategic idea here is that Samsung tablets Galaxy 2 Note are not positioned on the luxury market, but at the same time will not be sold in low-level stores as Wal-Mart. Targeting young people across three continents, Samsung focused on uniqueness, creativity, design and promotion. Apple’s product focuses on luxury and fashionable segment of the market where consumers are ready to pay more premiums. Conclusion and Recommendations Transforming South Korea’s economy was an experiment and example of â€Å"Tiger measures† conducted by the government of President Park Chung Hee in quest of best way to expand the economy in sustainable way and improve the quality of people equally. Focusing on export-oriented economy with solid foundation of education, willingness of hard-work, high saving ratio and allowanc e of private family- own enterprises in national sectors and important industries helped The Miracle on the Han River to become history of success. Chaebols† were and still are enormous part of South Korean Economy, which for three decades created a country -an example for a market economy, which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies (Ref*2). In 2010, Korea’s trade volume amounted to US$892 billion, ranking the country the 7th largest exporter in the world(Ref*2). Korea’s shipbuilding sector currently accounts for about 34% of the world’s total shipbuilding orders. As a major auto manufacturer, Korea produces over 4. million vehicles annually. The majority of export related goods are produced by top â€Å"Chaebols† companies which appeared in late 60s after government of Park Chung Hee offered them unlimited incentives and industries in exchange of economic growth with 10% on average. The impact of those conglomerates was measurable and visible, even though 1997 Asian crisis shaped up them and reformed these â€Å"octopus† inner structures by implementing more transparent policies and less corruption. Nowadays â€Å"Chaebols† are still the driver of South Korean’s income and economy. As recommendation for the largest â€Å"Chaebol† at the moments, Samsung Group- focusing on innovation and technology improvement will be useful, because China is starting to emerge and also other competitors are weak point for Samsung. Combing their efforts could be a good strategy in order to protect South Korean’s reputation and export share. Focusing on domestic market and not being so dependent on export. Or being sure that export is enough diversified to keep the profit. Reducing Marketing cost via cheaper, but creative techniques to attract and keep customers. Because for quality there is always a market! Reference List: . Fogel, R. W. (2005). Reconsidering expectations of economic growth after World War II fromthe perspective of 2004. IMF Staff Papers, Vol. 52 Special Issues, Washington, DC:International Monetary Fund. 2. Published by Korean Culture and Information Service Retrieved October 2, 2012, from scribd. com/doc/85568568/Facts-about-Korea-English 3. Ret rieved October 3, 2012, from https://www. fsb. muohio. edu/mis399/student/Reading%20files/history-china-korea-japan. htm . 4. Fifield, A. (March 26, 2008). ft. com. In Korea’s Bulldozer must clean up the Chaebol. Retrieved October 14, 2012, from t. com/intl/cms/s/0/97182b8e-fb3f-11dc-8c3e-000077b07658. html#axzz2LbBBYYrW. 5. lifeinkorea. com/information/history1. cfm 6. Choo, Myung-Gun. 2000. Chapter 4: South Korea: the Tragedy of Partition and the Response, in  The New Asia in Global Perspective, p. 74-5 7. https://www. fsb. muohio. edu/mis399/student/Reading%20files/history-china-korea-japan. htm. Retrieved October 3, 2012 8. ,, 9. lifeinkorea. com/information/history1. cfm 10. http://afe. easia. columbia. edu/main_pop/kpct/kp_koreaimperialism. htm 11. Education, Wikipedia , Retrieved October 9, 2012, from http://en. wikipedia. rg/wiki/Park_Chung-hee 12. Hattori, T. ,1986 â€Å"Comparison of Large Corporations in Korea and Japan, â€Å" in Hakjon Lee and Kuhyun Chun g, eds. , The structure and strategy of Korean Corporation ( Seoul, Korea: Bupmunsa, 1986)p. 151 13. November,2010. , The Chaebol in South Korea: Spearheading Economic Growth. ,Thomas White International, Ltd, Retrieved October 12, 2012, from thomaswhite. com/explore-the-world/emerging-market-spotlight/2010/south-korea-chaebols. aspx p. 2 14. Kae H. Chung, Hak Chong Lee, and Ku Hyun Jung, Korean Management: Global Strategy and Cultural Transformation ( Berlin: Walter de Gruyter, 1997) p. 15. Retrieved October 15,2012, from sjsu. edu/faculty/watkins/park. htm Sources: Clifford,  L. M. Troubled Tiger: Businessmen, Bureaucrats, and Generals in South Korea, M. E. Sharpe, Armonk, New York, 1994. Hee, C. P. To Build a Nation, Acropolis Books, Washington, D. C. , 1971. Hee, C. P. The Country, The Revolution and I, Hollym Corporation Publishers, Seoul, Korea, 1970. Hee, C. P. Our Nations Path: Ideology of Social Reconstruction, Hollym Corporation Publishers, Seoul, Korea, 1970. 16. Jasper, Kim Crisis and Change : South Korea in a Post-1997 New Era ( Seoul: Ehwa Womans University Press, 2005)p. 7 17. March, 2006. , The Case of Chaebol Cult, Asian Management, Retrieved October 5, 2012, from . PDF version 18. Jasper, Kim Crisis and Change : South Korea in a Post-1997 New Era ( Seoul: Ehwa Womans University Press, 2005)p. 17 19. http://ecostat. wordpress. com/2012/08/19/capital-accumulation-or-total-factor-productivity/ 20. Fields. J. K. , Enterprise and the State in Korea and Taiwan ( Cornall University Press, 1995) p. 35 21. Ahn(2001), pg420and Pn, E. ,†South Korea’s role in a dangerous neighbourhood† nytimes. com/cfr/international/slot3_021106. html 22. (2006, 03). Korean Economy. StudyMode. com. Retrieved October 15, 2011, from studymode. com/essays/Korean-Economy-83006. html 23. Choo, Myung-Gun. 2000. Chapter 4: South Korea: the Tragedy of Partition and the Response, in The New Asia in Global Perspective, p. 79 24. Education, Investopedia Retrieved October 18, 2012, from investopedia. com/terms/a/asian-financial-crisis. asp#axzz29i6XywR2 25. SAMSUNG Group Official WebPage, Retrieved October 3, 2101 from samsung. com/us/aboutsamsung/corporateprofile/history06. html 26. http://tablets. venturebeat. com/compare/46-123/Apple-iPad-2-with-Wi-Fi-3G-vs-Samsung-Galaxy-Note-10-1

Jeb Bush Net Worth

Jeb Bush Net Worth Jeb Bushs net worth is at least $19 million and as much as $22 million, according to tax returns made public by his presidential campaign in 2015 and public remarks by his aides. The disclosures showed Jeb Bushs net worth grew dramatically in the eight years of private-sector work following his departure as governor of Florida in 2007. Sources of Net Worth in Financial Industry Bush has earned his money in the private sector from speaking and consulting work in the financial services industry, including private equity. Among the firms hes been associated with are  Lehman Brothers and Barclays. Bush was worth only $1.3 million when he left the Florida governors mansion in 2007. He  was paid more than $28 million since leaving office, according to a New York Times analysis in 2014. That included $3.2 million from serving on the boards of public companies and giving more than 100 speeches for which he was paid at least $50,000 each. His pursuit of wealth is well documented and will likely become a point of contention should he seek any public office in the future. Why a Large Net Worth Can Be Bad In Politics Bushs net worth became an issue for him in the 2016 presidential race. Thats because of his reported aggressive quest for wealth in the years since he left the governors mansion in Florida. Some political analysts said they believed Bush would face similar hurdles connecting to middle-class Americans as did 2012 Republican presidential nominee Mitt Romney, one of the wealthiest candidates to seek the White House in modern history. â€Å"Running as the second coming of Mitt Romney is not a credential that’s going to play anywhere, with Republicans or Democrats. Not only would this be problematic on the campaign trail, I think it also signals someone who isn’t seriously looking at the presidency or he wouldn’t have gone down this path,†Ã‚  Republican consultant  John Brabender told Bloomberg Politics in 2014. Jeb Bush Takes Flack For Rush to Make Money Bush entered the Florida governors mansion in 1999 worth about $2 million, according to published reports detailing his personal finances. In his eight years as governor, Bush would tell reporters his family finances suffered because of his public service, according to the Tampa Bay Times. He left office with a net worth of $1.3 million. In their book about the 2012 presidential campaign, Double Down, journalists  Mark Halperin and John Heilemann describe Bushs quest for wealth as a driving factor behind his decision not to seek the Republican nomination that year. He said he wanted to pursue greater wealth instead. The former Florida governor was telling everyone the same thing hed told Romney: he planned to stay on the bench. It wasnt so much concerns about a Bush hangover that were keeping Jeb there. It was his bank account. You dont understand, Bush would say to the Republican poo-bahs begging him to run. I was in the real-estate development business in my state. There was a huge bubble, but I missed out because I was governor for eight years. So Im starting from scratch. If, God forbid, Im in an accident tomorrow- Im in a wheelchair drooling, saliva coming from my mouth- whos going to take care of me? What are my wife and kids going to do? Ive got to look after my family. This is my chance to do it.

Walmart Research Paper Example | Topics and Well Written Essays - 750 words

Walmart - Research Paper Example The case study gives a very good example of how large business can be following certain practices that are considered as discriminationary by the employees and the general public. Walmart is a very big company with a very large number of stores all over the world and it employs thousands of employees. As such, the company is in a position to give employment and means of livelihood for community and the people. It is also one of the largest companies and so it can take advantages of the economies of scales in its supply chain and operations and so it can provide low costs and discounted products. As such, it is considered as beneficial to the customers also. However, there are many charges applied against Walmart for its policies and practices regarding its employees. I agree that there is a substantial amount of evidence that indicates that Walmart is following unethical practices. For example, it is well known that the company employees a large number of part time employees and puts them in in dead end jobs (Becker, 2013). There are also allegations of the company hiring illegal immigrants. This strategy means that the company does not have to worry about the incentives or benefits, insurance and other health related aspects of a large section of the workforce. Moreover, I believe that this strategy also makes it possible for Walmart to avoid planning a career path for these employees. A more serious charge levied against Walmart is that it sources its supplies in an unethical manner and uses sweatshops that employ children or other marginalized groups across the globe. By sourcing from countries that have weak or non-existent labour laws makes it possible for Walmart to get cheaper supplies and hence translate the cost saving to the customers. In addition to this being an unethical practice on the supply front, it is also touted as a market distorting strategy as Walmart is able to price its products lower than competition and hence affects free market dynami cs (Andersen and Skjoett-Larsen, 2009) Another issue that was highlighted in the case study was that Walmart makes its workers spend long hours and do overtime, while at the same time it does not pay good wages. These allegations have been made against Walmart by several employees and there have even been cases filed against it (Kenny, 2006). While the Walmart itself denies most of these charges, it does agree that these unethical practices may be happening at the store level without the knowledge of the top management. However, Walmart continues to prevent unionization of its workers which means that the employees are more vulnerable than employees of other organizations (Paul, 2012). Walmart is also found to discriminate against female workers as it follows an implicit policy of hiring mostly male workers (Kampf, 2007). However, I think the discrimination is more within the store where the female employees may be given lesser salaries and incentives and where they may not be given any opportunities to get promoted or move ahead in their careers. There have been several cases of sexual discrimination against the company which indicate that this discrimination is a fact. In fact, there is a class action suit pending related to sexual discrimination based on statistics and data collected from Walmart’s stores worldwide, and this could result in billions of dollars of money lost for the company. The only answer that Walmart seems to have is that again, the top management was not aware of any discriminationary practices that may be happening at the store level. However, by simply stating that the top management was not aware of the unethical practices at the store level, the top management should not be allowed to shun responsibility. In fact, by stating that the

Interior Design of the Alhambra Essay Example | Topics and Well Written Essays - 2250 words

Interior Design of the Alhambra - Essay Example There is an attention to detail and patterns to where intricate forms are made. In addition to the interior aspect, it has a massive interior space but even so, the smallest corner has great significance in the entire presentation of the building. It then has these momentous domes that are loaded with art work and glass that allow light to enter the space making it a different place in different times of the day. I will now present a detailed description of the Alhambra and the meaning of its designs. The "red fortress" or the Alhambra is the only most significant and most conserved Arabian palace. The Alhambra is built by Moorish kings during the 12th and13th centuries and is located in the southern part of Spain. Its chief glory is its exceptional ornamentation. The name also refers to the color of the mountain to where it is built. The palace is an ensemble of exquisite artistic designs that can be attributed to the following inspirations such as religion, nature, music, culture, important personalities, and the foreign influences. It is a genuine expression of the once prosperous Moorish civilization and its architecture in Spain. The interior of the structure is decorated sumptuously with impressive examples of the honeycomb and stalactite-like vaulting1 of roof or dome which are eminent and typical of Islamic style of decoration. The famous beauties of the palace are: The Gate of Justice, The Court of Alberca; The Court of Lions with its alabaster basin peeling diamond drop s; The Hall of Ambassadors; The Tower of Canaries; The Court of Myrtles; The Hall of Justice; and several gardens, fountains, panoramas, chambers, towers, and balconies. Little and beautiful patterns containing vines and Arabic characters are interwoven into a structure of red, black, blue, and gold unspeakable richness. Decoration is simply defined as the act or process of putting ornaments to beautify, adorn, or enrich a place. Once all these concepts are implemented in the interior of a building or a structure, it now becomes interior decoration. In the Alhambra, the embellishment or decoration within the palaces epitomized the vestiges of Moorish dominion within Spain. The seclusion with the rest of the Islam, and the commercial and political relationship with the Christian kingdoms also influenced in the concepts on space; columns, muqarnas and stalactite-looking ceiling decorations, are visible in several chambers, and the interiors of numerous palaces are decorated with arabesques and calligraphy. Muqarnas is an Arabic word that illustrates a traditional element distinctive to Islamic architecture. They are small niche-like components that are combined with each other in successive layers to enclose a space and produce surfaces rich in three-dimensional geometric compositions.2 It is a unique Arabic/Islamic space-enclosing system used for the decoration and ornamentation of domes, minarets and portals. This type of design is often applied to domes, pendentives or devices used allowing the placing of a circular dome, cornices, squinches and the underside of arches and vaults. Indeed, the Alhambra is one of the olden structures to use the muqarnas. At the same time, arabesque is an elaborative application of repeating geometric forms that often resonates the forms of plants and animals. Usually this type of design is found in the walls of mosques. Arabesque designs found in the Alhambra did

What are the limits of a Social Identity approach to the social Essay

What are the limits of a Social Identity approach to the social psychology of deviance - Essay Example In this context, we can look at deviances which are obvious such as taking drugs which are prohibited in society and we can examine deviant behaviour which is less commonly seen or discussed in polite society as such e.g. paying cash to avoid taxes and other white collar crimes. We can also try to understand the social identity process that takes place in the formation of groups that display socially deviant attitudes and even consider situations in which a person can be purposefully deviant within a given scenario. At the same time, an examination of other approaches to understanding deviance within society is also mandated. Other theories such as the strain/anomie theory and the social disorganization theory can be helpful in explaining parts or covering areas which are lacking in the social identity approach. However, the first step in the process remains an understanding of deviance and how the social identity approach is limited in clearly understanding the process as it occurs in society. Henri Tajfel and John Turner have been credited with the creation of the Social Identity Theory which begins with how people categorise themselves and others using labels (Johnson & MacEachern, 1985). For example, an American may categorise all people coming from the Middle East as Muslims or a person in the Middle East may think that all Americans are Christians. Once a person has made categories, s/he can then identify and create an in-group identity for themselves as being part of a group which in turn helps in increasing that person’s self-esteem. Finally, the person can have and can even be taught to have and understand the differences between the in-group individuals and out-group others. These comparisons can be mostly favourable to the group the person belongs to but they can also be negative in certain cases. For example, a person living in an economically less developed country may accept that s/he belongs to a

Design Patterns Research Paper Example | Topics and Well Written Essays - 1000 words

Design Patterns - Research Paper Example This notification can encompass particular information and facts regarding the topic of the notification. However, the subject can eliminate any of the observers from the list when there is no need for a specific observer to be informed regarding these events or changes with respect to the matter they are registered with the subject. They are used when there is need maintaining constancy and reliability between connected objects while not affecting coupling characteristics of classes. For instance, these patterns can be used when an object needs to be able to inform other objects without having suppositions on the subject of those objects. Moreover, the observer pattern consists of the following elements (Osmani, 2012): Subject: This component is responsible for managing the operation related to observers, such as facilitating, eliminating, or adding observers into the list (Osmani, 2012). Observer: This component is responsible for offering an up to date interface for observers that need to be informed regarding any change (Osmani, 2012). Concrete Subject: This component is responsible for managing transmission and notifications to objects regarding changes to state. It also maintains the state of ConcreteObservers (Osmani, 2012). ConcreteObserver: This component is responsible for establishing and maintaining a reference to the ConcreteSubject. In addition, it also implements a modern interface for the observer to make sure that state is compatible with the subject (Osmani, 2012). Advantages The observer patterns allow software development teams to think effectively about the associations among various elements of software application (Osmani, 2012; Toal, 2012). These patterns also allow software engineers to recognize what application layers have straight associations which could be alternatively replaced with a set of observers and subjects. In this scenario, these patterns can be effectively employed for splitting a software application into a number of sm aller, more freely joined components with the purpose of improving code maintenance as well as competency for re-use (Osmani, 2012; Sud, 2013). These patterns are useful for establishing and maintaining a one-to-many dependency between objects (Marakana Inc., 2013). These patterns provide an excellent communication mechanism for instance, when there is a change in the state all the related objects are notified automatically (Marakana Inc., 2013) Disadvantages As discussed above, these patterns support for decoupling however by decoupling various objects, it can frequently turn out to be hard to get assurance that specific components of a software application are working as they are expected to do (Osmani, 2012; Pierry, 2013). It is believed that in these patterns subscribers are relatively unaware of the subsistence of each other as well as are sightless to the price of switching publishers. Hence, because of this dynamic association between objects, it is difficult to track the upd ate dependence (Osmani, 2012; Sud, 2013). 2. The Factory Pattern The Factory pattern is also one of the most important creational patterns, which is concerned with the concept of developing objects. However, it differentiates with other patterns of the base of a property and that is it doesn't openly require software engineers to make use of use of a constructor. On the other hand, a Factory provides software engineers

The feasibility of different techniques for providing fresh water to Research Paper

The feasibility of different techniques for providing fresh water to arid regions of the world - Research Paper Example To make matters worse, the little water received in these areas is usually not safe for domestic, agriculture and commercial use and there an urgent need to provide fresh water. To do so, policy makers explore various fresh water provision techniques as discussed in subsequent sections of this report. 2.0 Fresh water provision techniques In endeavors to provide fresh water to the arid regions of the world, different techniques are employed that include ground water drilling, desalinization and piping techniques. These techniques often vary from those employed in areas where precipitation is high. Therefore, climatic conditions in arid regions dictate to a large extent what technique(s) is most appropriate. Key issues in water provision and water resource management which dictate appropriate techniques will include availability of adequate supply, conservation measures, cost effectiveness, pricing and sustainability. 2.1 Ground Water Drilling Technique Ground water is normally obtaine d from aquifers through drilling and piping the water to the surface for various uses. This technique involves identification of areas in arid regions that have sufficient and quality underground water for agriculture, domestic and commercial use. The technique is more preferred to its low cost of establishment compared to other techniques like desalination. To ensure sustainable use of underground water, policy makers and regulatory authorities establishes water databases through registration of wells and their yields, documenting water composition, control of drilling in all phases and regular monitoring of water table and changes in salinity. However, the challenge with this technique is that over time demand for fresh water has increased both socially and economically requiring more wells to be dug. For example, over the last 3 decades, demand for water within the United Arab Emirates and other Gulf states which are often classified as arid regions, was estimated to increase fro m 4,250Mm3/ year in 1980 to 35,395Mm3/ year by 2010 (Alsharhan et al 2001, 277). Therefore, this means that governments in arid regions have to drill more wells or explore alternative fresh water supply techniques. This water supply technique faces various challenges relating to quality and sustainability. One, underground water may contain dissolved solid substances whose value is above the established norm. Establishing these levels require sophisticated technology which is costly and often not at the disposal of most governments in arid regions. Where levels are higher than the benchmark standard, such wells have to be closed or alternative technologies to reduce the hazardous effects of these particles employed (California Environmental Protection Agency 1995, 5). For example, high fluoride levels are common in arid regions where fluoride levels have to be reduced to the World Health Organization (WHO) to reduce effects of tooth decay and bone weakening. In addition, underground water

Corporate Finance Coursework Example | Topics and Well Written Essays - 2000 words

Corporate Finance - Coursework Example However, the application of the IRR technique revealed that the project has an IRR of 20.2% which is less than the rates FCL uses to discount their investments. In consideration of the rate of inflation and the fact that there seem to be no basis for using a 21 per cent and a 26 per cent rate of inflation as suggested in a meeting, the recommendation was made to invest in the project. The basis for this suggestion was that the investment would facilitate an increase in the company’s efficiency. Furthermore, it would help to improve FCL’s image and so allow the company to obtain more contracts and thus increase its revenues. Introduction Investing in a project is not a simple matter. It involves an assessment of different options. If the project relates to an asset for a new idea, this requires consideration of a number of different options which are completely new to the organization. However, if it involves a new piece of equipment to replace an existing one, it requir es consideration of the equipment in use compared to the alternative. FCL is considering whether to replace an old crane which has five (5) years left to be put out of commission with a new ALII Crane. The ALII would allow the company to get additional opportunities in the market which the old crane would not be able to facilitate. It would also be able to produce items faster which mean a faster turnaround time and less production backlog for the company. Purchasing a new piece of equipment normally involves a large capital outflow and so the company’s ability to obtain funds is normally one of the main considerations. However, since financing the project is not a challenge, the focus here is not on obtaining money to finance it. Some of the things to be considered include cash flow and the ability of the company to generate enough revenue to make a profit or to break-even with this investment. Additionally, the project needs to be appraised to determine whether the investme nt will generate the required returns. The project will be assessed in terms of its net present value (NPV) over the ten year period, the payback period and the projects internal rate of return (IRR). Break-even analysis It is important to consider the ability of the company to generate the volume of sales necessary to break-even. The breakeven point is the point at which the company neither makes a profit nor a loss (BPP 2011; Horngren et al. 2000). This is a measure that is frequently used to measure risk in a business (Singh and Deshpande 1982). The ability to generate a profit or to break-even is not the only important issue and so the timing of FCL’s cash flow is also of paramount importance. Cash Flows A projects cash flow is very important. In order to determine the feasibility of the investment the cash flows will have to be evaluated (Emory et al. 2007; Titman et al. 2011). In fact, Popescu (2008) indicates that cash is the lifeblood of a business; therefore, it is i mportant for the people who are placed in authority to pay special attention to cash inflows and outflows and their timing. Cash will flow inwards from sales revenue while cash will flow outwards to pay for expenses that will be incurred on the project. The focus should be on incremental cash flows that are generated from the use of the

The feasibility of different techniques for providing fresh water to Research Paper

The feasibility of different techniques for providing fresh water to arid regions of the world - Research Paper Example To make matters worse, the little water received in these areas is usually not safe for domestic, agriculture and commercial use and there an urgent need to provide fresh water. To do so, policy makers explore various fresh water provision techniques as discussed in subsequent sections of this report. 2.0 Fresh water provision techniques In endeavors to provide fresh water to the arid regions of the world, different techniques are employed that include ground water drilling, desalinization and piping techniques. These techniques often vary from those employed in areas where precipitation is high. Therefore, climatic conditions in arid regions dictate to a large extent what technique(s) is most appropriate. Key issues in water provision and water resource management which dictate appropriate techniques will include availability of adequate supply, conservation measures, cost effectiveness, pricing and sustainability. 2.1 Ground Water Drilling Technique Ground water is normally obtaine d from aquifers through drilling and piping the water to the surface for various uses. This technique involves identification of areas in arid regions that have sufficient and quality underground water for agriculture, domestic and commercial use. The technique is more preferred to its low cost of establishment compared to other techniques like desalination. To ensure sustainable use of underground water, policy makers and regulatory authorities establishes water databases through registration of wells and their yields, documenting water composition, control of drilling in all phases and regular monitoring of water table and changes in salinity. However, the challenge with this technique is that over time demand for fresh water has increased both socially and economically requiring more wells to be dug. For example, over the last 3 decades, demand for water within the United Arab Emirates and other Gulf states which are often classified as arid regions, was estimated to increase fro m 4,250Mm3/ year in 1980 to 35,395Mm3/ year by 2010 (Alsharhan et al 2001, 277). Therefore, this means that governments in arid regions have to drill more wells or explore alternative fresh water supply techniques. This water supply technique faces various challenges relating to quality and sustainability. One, underground water may contain dissolved solid substances whose value is above the established norm. Establishing these levels require sophisticated technology which is costly and often not at the disposal of most governments in arid regions. Where levels are higher than the benchmark standard, such wells have to be closed or alternative technologies to reduce the hazardous effects of these particles employed (California Environmental Protection Agency 1995, 5). For example, high fluoride levels are common in arid regions where fluoride levels have to be reduced to the World Health Organization (WHO) to reduce effects of tooth decay and bone weakening. In addition, underground water