Death of a Salesman Essay

In 1949; whilst America saw the culmination of anti-communist feelings, fear of the unknown and the general hysteria which stemmed from the Cold War against Russia; playwright Arthur Miller published what was seen to be a personal criticism of the American way of life, his play, â€Å"Death of A Salesman†. Death of A Salesman tells the story of Willy Loman, a lowly salesman slowly being estranged from society and increasingly led into confusion by his attempts to escape his own failure brought about by the great American Dream he has served so loyally. It was for this play Miller was brought in front of HUAC (house un-American activities committee) and charged with undermining American Values. Miller defended himself by claiming he simply aspired to â€Å"show the truth as [he] saw it†. It is because Miller insisted on adhering to realism, that he chose a normal, â€Å"Loman†, or literally, low man, to be his Tragic Hero. In doing so, Miller broke one rule- that of Aristotelian tragedy, which demands a â€Å"noble† hero, of high birth; and simultaneously abided by another, the rule of a Modern Domestic Tragedy which requires an ordinary person’s story to be told. Whilst Milton would have deplored this â€Å"introducing of trivial and vulgar persons [into tragedy]†, Miller dismissed all criticism of his choice of hero, demanding his accusers to recognise â€Å"it matters not whether the hero falls from a great height or a small one†, or as Linda puts it, â€Å"he’s not the finest character who ever lived. But he’s a human being and a terrible thing is happening to him† the importance then, lies in the way and reason for which the character falls. Willy does, however, comply with both the moulds of an Aristotelian tragedy and Modern Domestic Tragedy in that he suffers from a Hamartia which results in his fall from grace and eventual death. Most critics and audiences identify Willy’s Hamartia as his Hubris, his over inflated sense of self-worth and pride, which means he refuses help even as he becomes increasingly lost. However, a few critics complain that Willy cannot be a tragic hero, as he does not have one fatal flaw but many which combine to bring Willy down. This idea, as expressed by Thomas Adler, Ruby Cohn and others rests on the existence of other factors in Willy’s life, Willy is not only proud, but stupid, cursed with the wrong dreams, lacking in vision and most of all weak. It is this weakness which prohibits him from escaping the â€Å"Jungle† of the American Dream, meaning he dies within it; a result of it and as a sacrifice to it, hoping that his death will reveal the â€Å"diamonds† he seeks. Willy’s actual death in Death of A Salesman is not shown on stage, but rather, it is symbolised by the â€Å"sound of a car†¦moving away at full speed† then the â€Å"crash[ing] down [of music]† which in turn morphs into â€Å"a dead march†, not explicitly showing the morbid act, but implying it heavily enough for the audience to be in no doubt of its occurrence. It is typical of a Modern Domestic Tragedy death not to occur in front of the audience. The music in this ‘death scene’ is poignant, powerful and very implicit to the plot, without it the audience would not know of Willy’s death. Music runs throughout the play as a catalyst through which Miller makes the subtler, unspoken â€Å"presences† or emotions known. Take for example the flute’s melody which serves as both a melancholy theme tune to Willy’s failings and a musical embodiment of his estranged Father’s ghost, who â€Å"made more in a week than a man like [Willy] could in a lifetime† . The flute embodies both these roles in â€Å"Requiem†. First, Willy’s failings are made clearer than ever as Linda starts to truly mourn her husband and elicit an impossible last goodbye from him. Second, flute also shows Willy’s father’s presence because we know it is from his father that Willy got the â€Å"wrong dreams† which drove him to the grave Linda sits by. It is perhaps important to consider the role of ‘ghosts’ or past figures which appear throughout the play. Ghosts and figures from the past litter tragedy throughout the centuries. Indeed, the oldest surviving complete tragedy, Aeschylus’s Persians (472 BC) features the ghost of the dead King Darius returning from the past to cast judgement over his son Xerxes, whom he deems to be failing in his role and pursuing the wrong dreams. This is not unlike the mocking presence of Willy’s own father and his brother Ben, both deceased who continue to taunt Willy with dreams he cannot achieve. Willy’s suicide is at once self-congratulating, misguided and selfless. He wants to escape the feeling he is â€Å"temporary† by truly leaving something behind, â€Å"something one can feel with the hand†. This something is his â€Å"diamond† of the $20,000 insurance money, which will make him a â€Å"hero† for Biff to â€Å"worship† and helping Biff to start up a business of his own. Requiem holds no answers as to whether the premium was paid and through this and the melancholy despair that runs through the final scene, Miller shows how pointless Willy’s death truly was. No matter how much money he leaves behind, it will never compensate for the loss the family has to endure. Linda cannot even understand his motives and Happy encapsulates the mood when he declares â€Å"There was no necessity for it†. A sad twist of irony is Biff making it clear he is moving away. Thus, he would never have used the money anyway. This shows the true uselessness of Willy’s death and also his father’s lack of understanding of his own son, who from the start is happiest in the open â€Å"playing around with horses†. However a sadder twist is Happy’s utter unwillingness to learn from his father’s mistakes, and despite declaring â€Å"Willy Loman did not die in vain† he goes on to prove the opposite, promising to â€Å"win it for him [Willy]†. The Requiem shows Willy’s final delusion shattered. There is a simple answer to Linda’s piteous, â€Å"why did nobody come? † The answer is that Willy was not, contrary to what he claims time and time again, â€Å"known†, because he has not changed with the times, and the old values he clings to do not make a man â€Å"known† or â€Å"a success† at all. Evidence of Willy’s failure to change with time can be traced back to, as Richard T. Brucher puts it, Willy’s â€Å"unexpected, marvellingly innocent question†: â€Å"How can they whip cheese? † Such a simple statement exemplifies his static approach to modern life; he wants everything to return to the â€Å"great days† and is unwilling to change anything, least of all his expectations and aspirations. Irony is another key feature of a Modern Domestic Tragedy and Linda’s last lines, her mantra of reassurance, â€Å"We’re Free†¦ We’re free† is more heavily laden with irony than any other line of the play. The lines are applicable in so many different ways, not only the upfront meaning of the family being free from debt. They also despondently relay Miller’s message that if you live following the American Dream and have consumerism as your only moral compass and religion, then the only way to free yourself is to die. A much more cynical view of Linda’s words, as proposed by D. L. Hoeveler, suggests they epitomise the family’s darker subconscious thoughts, that now Willy is gone, they no longer have to continue on the paths they were forced down. They are â€Å"free† of the burden Willy placed on them. However, the earlier events show that despite no longer being pushed down the path of the American Dream, Happy will continue to pursue it, so this interpretation too is heavily ironic. As for Linda, being â€Å"free† from the burden of Willy is certainly not what she would wish for, after all she â€Å"more than loves him† and even his â€Å"little cruelties† do not change this. She needs to look after Willy so that she has a purpose and an aim. The play ends as it began, bringing the action back to the beginning and lending a continuous rhythm to the play, with Linda’s anxious disconcerted calling to the deceased Willy, mimicking her trepidation in the opening scene when Willy enters. It is the flute which opens and closes the play. Everything reverting back to the way the play started shows how insignificant Willy’s death really is. Capitalism does not crumble, life goes on. It is here that I believe Modern Domestic Tragedies are flawed, where Shakespearian ones are not. When Macbeth dies, the audience is certain that his Kingdom will mourn his loss, however warped he was, he was still their King. There will be a â€Å"massive† funeral, of the sorts Willy dreams of, and a Kingdom-wide expression of collective grief. It is this grief that I believe provides the catharsis of emotion for the audience, they know his death will continue to be felt after they leave the theatre and this assurance brings closure. This closure however, does not exist in Modern Domestic Tragedies. Willy’s death will go unnoticed by most, and this does not bring significant catharsis to the audience. There is no final completion of raw emotion. To support my view I can only offer the words of Shakespeare himself, â€Å"The poor beetle on which we tread In corporal sufferance feels a pang as great As when a Giant dies. â€Å"

Case Analysis on Capital Structure Pioneer Petroleum Essay

Introduction: This landmark case seeks to break the risk-reward trade off involved in calculating Capital Cost. The object of the solution must be to minimize project risks while maximizing project opportunities available. We want a rate and a rating system that does not unnecessarily reject â€Å"the best available projects – i.e. highest net positive free cash-flows at that time.† Particularly in times of excess capacity, this will marginally contribute to increasing company wide yields, but will not necessarily match the company-wide yield imposed by investors. History of the Company and Background of the Case: Sometime in July 1991, one of the critical problems confronting management and the board of Pioneer Petroleum Corporation, hereinafter referred to as Pioneer, is about Capital Budgeting; specifically they needed to determine the Minimum Acceptable Rate of Return, or MARR, on new capital investments. Their capital budgeting approach was to accept all proposed investments with a positive net present value when cash-flows are discounted at such appropriate cost of capital. Formed in 1924 through mergers of several formerly independent firms operating in the oil refining, pipeline transportation, and industrial chemical fields, pioneer Pioneer did vertical, horizontal, and backward integrations into exploration and production of crude oil, marketing refined petroleum products, plastics, agricultural chemicals, and later diversified into real estate development. In 1985 Pioneer restructured further into hydrocarbon-based oil, gas, coal, and petrochemicals. Statement of the Problem: What rate or rating system will consider specific, inherent risks of divisions and operating sectors AND consider benefits ascribed to the single-rate Weighted Average Cost of Capital approach? How can we help Pioneer Petroleum make an objective, rational choice on the hurdle or cut-off rates for evaluation of new projects in a fully integrated conglomerate of multiple divisions; determine whether they should use the SINGLE company wide Weighted Average Cost of Capital, which reflect the rates at their face value to the company, OR proposed MULTIPLE Divisional Cost of Capital, which reflects risk-profit characteristics inherent in various divisions and operating sectors. Objectives/ Directions of the Solution 1) The decision must help the management and board of directors of Pioneer Petroleum decide on the fair and objective Hurdle Rate/s that will fairly qualify new investment projects of Pioneer Petroleum divisions 2) Whatever the recommendation ought to be consistent with facts of the case, and provide consonance, rather than inconsonance, with the efforts of both the division and central or corporate management to execute strategy, leverage on strengths, and empower the company to make investments to gain and sustain competitive advantage. 3) The recommended project rate and rating system must be simple, objective and fair. 4) It must consider specific, inherent risks of divisions and operating sectors 5) It must also address the interest of stockholders to maximize return on their equity or investments. Case Facts and Assumptions: 1) It is the Policy of the board to balance the source of funds, or to keep the funded debt and equity ratio at 50:50 . Debt and Equity financial ratios are: a. D-E ratio for refining is 1.5:1, b. D-E for the exploration is 0.8:1. 2) The Income Tax Rate is given at 34%. 3) Revenue is $15.6 billion 4) Net income $1.5 billion. 5) It is given that dividends increased by 10% in 1990 and 1991, and therefore we will assume to use the higher target equity yields of 2.7 (add the 10%), rather than 2.45 the actual yield of 1989. 6) The company’s Corporate Debt was A-rated; this means it is deemed to carry much low risk than the general investing or borrowing public. 7) Capital Expenditure budget are enormous, $3.1 billion in 1990 and $4.5 billion in 1991, underscoring the significance of appropriate and accurate weights and calculations for Cost of Capital. Strengths and Opportunities. Pioneer was one of the primary producers of Alaskan Crude. The company’s gasoline are among the cleanest burning fuels. By 1990, total revenues exceeded $15.6 Billion and net income over $1.5 Billion. Pioneer supplied its own raw material for domestic petroleum liquids production and was also one of the most cost-efficient refiners of the West Coast and had an extensive West Cost presence. The company has clean, efficient running plants positioned to meet strict environmental guidelines capitalize on less polluted products. Capital expenditure investments ran at $3.1 Billion, with forecasted expenditures of almost $4.5 Billion in 1991. Pioneer was also heavily invested in Environmental projects. Its chemical unit produced 1/3 of the world’s supply of methyl tertiary butyl ether, MTBE, an ingredient making its gasoline one of the cleanest burning in the industry. The MTBE market had been growing with the global trends towards sustained development of the environment. Refining its cost of capital calculations will not only preserve its much-needed capital, but it also unlocks new capital — and maximizes existing capital — to capitalize on such huge opportunities, particularly the passing of the 1990 Clean Air Act with which came tremendous area in which Pioneer might capitalize on its eco-strengths. Weaknesses and Threats: To meet Pioneer expected to invest $3 Billion additional to meet the new law’s standards among other new environmental regulations. Its multinational status makes it vulnerable to foreign currency exchange risks, political risks, interest rate volatility, cultural risks, and transfer pricing and other transnational risks involving a complex network of sources, sinks and of moneys, products and services. Its fully integrated set-up requires spreads itself quite thinly, and requires seamless transnational collaboration and cross-border coordination to work. Management wanted synergy among global divisions to optimize overall performance, and obviously to decrease these complex risks. Methodology: The weighted cost of capital approach is applied, first apportioned pro rata based the usual cost of the fund source: i.e. debt and/or equity. The cost of debt would be prevailing interest rates, and the cost of equity would be â€Å"foregone† earnings on capital invested as equity – i.e. earnings per share over market value per share. The second approach is similar, but with multiple cutoff rates. First it is broken down by Divisional Cost of Capital – i.e. calculated using a weighted average cost of capital approach, but this time for each division or operating sector; before further drilling down by cost per fund source. Calculations would follow three (3) steps: a) First an estimate would be made of the usual capital structure, or debt to equity proportions, of independently financed firms operating in each sector. b) Given these proportions by sector, for each operating sector, the costs of capital – divisional debt and equity – would then be estimated in accordance with the concepts followed by the company in estimating its own cost of capital. This means Divisions are to use the WACC rules followed by the company, in estimating its own Weighted Average Cost of Capital. To describe this approach in a financial function: The Weighted Average Cost of Capital = WACC = sum of Divisional costs of capital = Sum total of [Divisional Costs of Debt plus Divisional Costs of Equity]3 Decision Alternatives for Selection of Marginally Attractive Rates of Return: Management and the board are choosing between two alternative approaches: 1) The Single WACC Rate, company-wide Weighted Cost of Capital approach, where specific rates weighted were those based on the sources of fund, debt and equity, in estimated proportion of future funds sourced; AND 2) Multiple Cut-off or Multiple Hurdle Rates for Divisional Costs of capital, involving determining the rates or weighted costs of capital for each main Operating Sector. 3) Hybrid or Combination thereof – taking the positive aspects or advantages of both methods; i.e. for example, the requirements of stockholders for return on equity on the one hand, AND the requirements of divisions or operating sectors to address specific local risks, and implications on local incentives. Case Analysis and Discussion. The two alternative approaches â€Å"purpose and benefits† are culled from the case, as follows: 1) The single, company-wide Weighted Cost of Capital approach, where specific rates weighted were those based on the sources of fund, debt and equity, in estimated proportion of future funds sourced; this gave a WACC rate of 9.0%. Proponents of the single rate might argue as follows: a. It is far simpler to calculate. b. It covers the actual rate or â€Å"cost of the source of funds† at face value of bonds or notes payable, or statements of stock or equity; c. It appears to be more conservative than divisional rates because it does not consider economies of scale of fully integrated conglomerates that benefit the divisions or subsidiaries in ways that not reflected in the divisional costs of capital or rates. d. The problem or effect of such diversification benefits on the rate is that Divisional Rates calculated independently, may be considered lower – in reality. Why charge sunk costs, one might ask to the division. The problem here is that the hurdle rate may be too high for many â€Å"projects,† and therefore unduly rejected; when in fact they ought to be accepted. IF they are accepted by competitors with similar integration benefits, perhaps, they will benefit from marginal income and grab this benefit from Pioneer’s subsidiaries. e. Pioneer’s shareholders expected the company to invest funds in the highest return projects available. f. Proponents of the single corporate rate argued that those advocating multiple rates were those who were not able to compete effectively for new funds, when measured against the corporate group’s â€Å"actual cost of capital.† g. Single-proponent advocates lacked confidence in the fairness and integrity of the process of selection of divisional rates. For example, the transport division had â€Å"unrealistically low hurdle rates† considering experience in tanker investments had been â€Å"disastrous for many companies.† There were also still some areas of ambiguity, such as how to treat environmental projects (or for this matter, central HQ projects over which Divisions have little or no control). h. Another concern was how the benefits of full integration – acquired through very costly mergers and acquisitions — would be considered in divisional rates. IF divisions lowered their rates, this might not be enough to cover central requirements. i. Reduced risk, economies of scale and other diversification premiums — remained unaccounted for in the proposed divisional costs of capital approach. There were considerably less risks for instance in subsidiaries of an integrated firm like Pioneer, than for independent petroleum dealers or non-members of the group. This being the case, was it fair to demand such a high hurdle rate given that the risks were much lower at some divisions than others? 2) Multiple Cut-off or Multiple Hurdle Rates for Divisional Costs of capital, involving determining the rates or weighted costs of capital for each main Operating Sector. The divisional rate approach seems far more complex, but proponents of divisional costs of capital argued included the following purposes and advantages of this scheme: a. The proponents of multiple divisional hurdle rates argued that a single companywide cost of capital (WACC) â€Å"subsidized the higher-risk divisions† at the expense of lower risk divisions. b. Because the cost of capital was too high for the low-risk divisions, too few low-risk investments were made. c. On the other hand, in the high-risk divisions too much investment occurred because the hurdle rate was too low. As evidence, proponents of multiple rates noted that Pioneer was the only major company that continued to invest heavily in exploration and development, and that it lagged behind its competitors in marketing and transportation inv estment. d. The divisional rates approach – there was nothing new in the calculations – except that sector rates would reflect the risks inherent in each of the operating sectors of the conglomerate. e. Evaluation of future capital expenditure or investments in each of the main operating areas of the company would be appraised pro rata based on the appropriate rate of return for that industry sector; f. For evaluation of actual financial performance — say, for incentives and bonuses — multiple cutoff rates would fairly represent the rates charged to each of the various profit centers for capital they employed or â€Å"borrowed from headquarters† so to speak; g. The proponents for multiple divisional hurdle rates also argued that the companywide cost of capital was too low, and that investments should be required to earn at least as much as an investment in common stocks. The average return since 1980 on the S&P index of common stocks of 16.25% substantially exceeded the 9% companywide cost of capital (see Exhibit 2). If Pioneer was serious about competing over the long run in industries with such disparate risk-profit characteristics, it was absolutely essential to relate internal target rates of return to the individual businesses. It was argued by proponents of the multiple divisional cutoff rates that for subsidiaries and sister firms of integrated firms like Pioneer, the inter-company-benefits mitigated the risks involved with large refinery investments. Thus in some cases rates lower than companywide rates of return were justified. There was a â€Å"diversification premium† which ought to be allocated back or deducted from the subsidiary discount rates, as calculated previously in proportion to the relation between the investment in each subsidiary and, say, the company’s total asset. Formula used for Weighted average cost of capital is WACC = K(d) + K(e) = Kd(1-t)*DEd + Ke*DEe Pioneer’s original calculations for WACC are summarized as follows From Exhibit 1 The case mentions however, that the interest used is a coupon of 12%, assuming it retains an A rating, and a 34% tax rate, this represented a 7.92% cost after tax. According to Investopedia, coupon is defined as the interest rate stated on a bond when it’s issued. The coupon is typically paid semiannually. This is also referred to as the â€Å"coupon rate† or â€Å"coupon percent rate†. The divisional cost of capital would then be calculated using a WACC approach for each Operating sector; i.e. as though each sector were an independent company competing in its own industry -Note that the same WACC formula above is used to estimate divisional cost of capital, except it is not company wide, WACC rates in specific operating sectors such as business.. The divisional perspective overlooked that each business was also part of an integrated company with â€Å"risk diversification benefits,† economies of scale and other integration benefits, say of a large refinery. The case pointed out the weakness of a single-rate policy. On the one hand, very few low risk investments were made, precisely because of the high rate of return on investment required by the pre-assessment. The hurdle rate was too steep for â€Å"low risk divisions.† Too few passed the gauntlet, so to speak. On the other hand, too much money was invested in high-risk divisions, because the hurdle rate on those operating sectors, was too low. Some members of top management felt that Company-wide cost of capital rates was too low, and investments should be required to earn at least as much as Common stocks – or over 14%. A couple of corrections need to be suggested on the single rate WACC of Pioneer. WACC = Kd + Ke Cost of equity, Ke. Note that â€Å"after prolonged debate,† Pioneer (management and board) decided to use 10%, which was the equivalent of $6.15 Earnings per Share divided by $63 Market Price per share. Using current earnings yield of their stock as the cost of both new equity stock and retained earnings.† In other words the 10% used was based on â€Å"actual† dividend yield and not the â€Å"projected† or the â€Å"required rate of return† for the company’s stock. Given a dividend growth rate of 10%, a share Market Price of $63, the next target dividend at $2.70 ( = $2.45 plus 10%), and the ratio of Equity to Debt at 50:50, then the cost of equity is therefore calculated as follows: Cost of equity: Ke = ((Target Dividend Value/Market Price)+Growth in dividends)*DEe = ((2.70/63) + 0.1)*(50%) = 14.3%. Cost of debt, Kd It seems the actual interest rate afforded Pioneer was not actually given in the case. What was used by management was the 12% coupon rate on bonds. Since Pioneer was an â€Å"A-rated† client, or deemed to carry very â€Å"low risk,† then this status ought to translate into a significantly lower cost of money or interest rate. To my understanding, a coupon rate would be like the hotel â€Å"rack rate† which would be much higher than what an A-rated client like Pioneer would be accommodated with. Let us assume a prime interest rate of 9%. Allow me to note that this assumption is just for the case exercise, but such information ought to be readily be available in the real world. The cost of debt is therefore: Cost of debt: Kd = Interest Rate * (1-Tax Rate) = 9% (1 – 34%) = 5.94%. Due to the 50-50 debt to equity capital structure, the actual cost of debt is 2.65%. The WACC is summarized as follows: The new WACC is 10.12%, as against the 9% estimated by Pioneer management. This means that companywide, projects that show a rate of return lower than 10.12% will not be approved. This is somewhat double edged, because it might mean that some projects which are less viable, but viable nevertheless, will be unduly rejected. It is suggested that rather than rejecting let there be a cap set on investments, and more flexibility be given on rates of return – sometimes this may be subject to abuse and manipulation. There are other countless foretelling signs of project success of failure than just numbers. As shown in this case, the hurdle rate WACC may vary, depending on the assumptions; for instance, if the debt to equity proportion changes, then the 50:50 â€Å"policy† might be irrelevant. Conclusions and Recommendations: FLEXIBILITY CUTOFF Rate Stop Loss Limits Forecasting Understand Risks, but also Opportunities Best-selling author of â€Å"Rich Dad, Poor Dad,† Robert Kiyosaki wrote, â€Å"Risk is a function of Ignorance.† It is always risky if it is not clear or understood. Unless objectively determined based on facts, a single, companywide rate of return used for expediency’s sake, is just as risky as a multiple-cut divisional cost of capital rate, that supposedly considers local risks of specific divisions or operating sectors. Conclusion and Recommendation Capital Structure2 is the mix (or proportion) of a firm’s permanent long-term financing represented by debt, preferred stock, and common stock equity, greatly affected by specific costs of capital or assigned hurdle rates, say in assessing weighted average costs of capital. CORE ISSUE – Hurdle rates2 are measures of the cost of capital, combined debt and equity, which a company targets for its projects to achieve in the planning period. The hurdle rate’s significance cannot be over-emphasized. If it is set too highly, it may spell tremendous losses in opportunities, or rejection of perfectly viable projects. This can also cause demoralization on the part of division personnel, who are rated based on such high hurdle rates. This means it is more difficulty to achieve, and thereby affecting managers and employees’ performance appraisals, bonuses and incentives. On the other hand, if we set hurdle rates too low [ in the game of golf, we might call this practice â€Å"sand-bagging,† or reporting a higher, more forgiving handicap to increase chances of achieving it ], this would be a major disservice to investors who expect maximum returns on their investments. They expect integrity in leadership, fair stewardship and good governance on the part of the board and senior management whom they have elected to run company affairs in their behalf. One limitation of classical estimates on Hurdle rates or Costs of Capital is that (1) investment and asset management decisions are held constant and (2) they consider only debt-versus-equity financing, which are not necessarily the only sources of financing. Recommendation: HYBRID SINGLE-MULTIPLE HURDLE RATE The solution must address specific legitimate needs of the different players, specifically the Stockholders, the Division heads, and top Management. Stockholders require better total returns on equity, and proponents of the Single rate assume that â€Å"the only way to achieve better overall returns on equity is to set company wide hurdle rates or weighted average costs of capital. They actually are not as concerned as division heads are, that some divisions are subsidizing others. This is not a sustainable practice. Pretty soon the winners who subsidize the losers will not find enough incentive to perform, and eventually leave. Division heads will be split into to. Winners, or Performers, and Losers, or non-performers. Top management must listen to winners and ought to reward them, outrageously, if they are to keep performing for the long term. This means that for winner industries, the practice of attaining a â€Å"hurdle rate† which in players’ perception is â€Å"too low†Ã¢â‚¬ ¦ becomes a disincentive over time. On the other hand, in â€Å"non-performing† divisions, good players that find the â€Å"hurdle rates† too high, are totally disillusioned and demoralized when standards are lowered to accommodate them. On a wider scope, Pioneer Petroleum needs to find a fair way to â€Å"allocate central costs in accordance with responsibilities† and to determine â€Å"strategic and financial measures† – including, but not limited to the Cost of Capital – between the central or corporate headquarters and its divisions and subsidiaries. This leads to less inter-departmental and inter-company conflicts, and more cooperation and synergy, which are necessary to for any breakthroughs to happen, i.e. in the direction of better project execution, better decisions and a more positive working environment. The recommended solution may be described as follows. 1) The policy we recommend is simply: Company Wide WACC = Sum of Divisional WACCs = Sum of [ Local Costs of Debt plus Local Costs of Equity] 2) The 50:50 capital structure does not seem like a well founded â€Å"policy† and must be revisited. The objective must also include maximization of risks and returns, and not to literally â€Å"balance† debt to equity capital structure. 3) An evaluation and rating system must be set up to allow managers to think global, but to act local. This means we do a Hybrid system of Corporate-and-Divisional hurdle rates, maximizing the benefits of both, and ascribing responsibility for the rate, where it is rightfully assigned. For example, the division management is responsible for maximizing its return rate, given the resources it is allowed access to, and given the authority and responsibility in its portfolio. Division managers are not responsible for a â€Å"company-wide rate† just as much as it does not have any control over other companies, or over corporate financial, operating or marketing strategy. 4) The total company-wide Rates of Returns (e.g. 10-15%) on Inv estments or capital expenditure, are the responsibility of top management, and to achieve this, there are other ways, besides imposing this global rate on every single operating division or subsidiary. 5) A fair system of multiple hurdle rates ought to reflected the specific risk-profit idiosyncrasies of its business divisions and operating sectors in which the company’s subsidiaries operated. 6) Using multiple hurdle rates will actually combine the strengths of performers in both â€Å"winner† and â€Å"loser† industry divisions. Fact is, the latter are not actually â€Å"losers†; just lower yields but still positive yields, which might be descriptive of industry performance. The key hurdle rates to accommodate this, might therefore be industry-specific MARRs or WACCs. As mentioned, the rate or rating system must consider specific, inherent risks of divisions and operating sectors – and at the same time – consider benefits ascribed to the single-rate Weighted Average Cost of Capital approach. 7) Aside from just calculating a â€Å"fair† rate, as financial advisors, we must equip Pioneer Petroleum top management with a better designed, more objective and more rational (less emotional) rating system; to help them rationally choose the corporate-and-divisional hurdle rates for evaluation of new projects in a fully integrated conglomerate of multiple divisions; determine whether they should use the SINGLE company wide Weighted Average Cost of Capital, which reflect the rates at their face value to the company, OR proposed MULTIPLE Divisional Cost of Capital, which reflects risk-profit characteristics inherent in various divisions and operating sectors. 8) The above rating system will help the management and board of directors of Pioneer Petroleum decide – every year – on the fair and objective Hurdle Rate/s that will fairly qualify new investment projects of Pioneer Petroleum divisions. a. It considers specific, inherent risks of divisions and operating sectors b. It addresses the interest of stockholders to maximize return on their equity or investments, which is ultimately the responsibility of TOP corporate management. c. It still uses the familiar Weighted Average Cost of Capital approach in calculating both single-company wide HURDLE rate, and divisional YIELD and HURDLE rates. d. Finally the solution MAXIMIZES OPPORTUNITY available in that it does not unnecessarily reject â€Å"the best available net positive cashflow projects at that time† which contribute to increasing company wide yields, but do not necessarily match the company wide yield. I believe this solution is easy to execute. It clarifies what rates to use as hurdle rates to truly evaluate . The solution must be win-win and acceptable proponents of both single and multiple rates References: 1â€Å"Pioneer Petroleum Corporation,† Case on Divisional Cost of Capital. Copyright  © 1991 by the President and Fellows of Harvard College. Harvard Business School Case 292-011. 2â€Å"Capital Structure.† Chapter 17, Fundamentals of Financial Management, 12/e  © Pearson Education Limited 2004; Slides by: Gregory A. Kuhlemeyer, Ph.D., Carroll College, Waukesha, WI 3â€Å"Investors need a good WACC.† Bill McLure, Investopedia Contributor, www.investopedia.com, http://www.investopedia.com/articles/fundamental/03/061103.asp 4â€Å"Definition of Weighted Average Cost of Capital.† Bill McLure, Investopedia Contributor, http://www.investopedia.com/terms/w/wacc.asp 5â€Å"Which is a better measure for capital budgeting, IRR or NPV?† Rob Renaud, Spotting Profitability with ROCE. http://www.investopedia.com/ask/ViewFAQPrintable.aspx?url=%2fask%2fanswers%2f05%2firrvsnpvcapitalbudgeting.asp ‘Accounts Receivable and Inventory Management’ Chapter 10, Fundamentals of Financial Management, 12/e,  © Pearson Education Limited 2004, Slides Created by: Gregory A. Kuhlemeyer, Ph.D. Carroll College, Waukesha, WI ‘Debt and Stocks,’ Chapter 20, Fundamentals of Financial Management, 12/e,  © Pearson Education Limited 2004, Finance Decisions and Investments,  © 2012 Lecture Notes by Dean Atty Joe-Santos Bisquera, LLB, CPA, MBA, De La Salle University College of Business – Graduate School

Plastic – Boon or Bane

Did you know the very first plastics were produced by German chemists in the 19th century via a fermentation processes. Plastics are everywhere! Plastics are â€Å"one of the greatest innovations of the millennium. The fact that plastic is lightweight, does not rust or rot, helps lower transportation costs and conserves natural resources is the reason for which plastic has gained this much popularity. Plastics are everywhere and have innumerable uses! Plastics are durable, lightweight, and reusable. Also, the are used in packaging many goods. Did you know that if the Titanic was made of plastic, it might still be cruising around the world? Below, I will discuss some of the countless number of ways that plastics change your life:Plastic has replaced metals and glass as the primary material used.Used in pillows and mattresses (cellular polyurethane or polyester)Used in cars and hi-tech computersThey provide good insulation for the wiring and are durable in extreme weather conditions.They provide as a good non-reactive medium as water pipes.They are light weight and colourful.Safe for children when they are food grade plastics.Ordinary plastics cause health hazards to humans when eaten in them. Handy as disposable bags, carry bags, wrapping paper, etc. â€Å"Plastic has benefited our society in a number of ways. In fact, plastic has helped in advancements in satellites, shuttles, aircraft, and missiles. As a result, civilian air travel has improved, as well as military air power and space exploration. In addition, the building and construction, electronics, packaging, and transportation industries have all benefited grea tly from plastic. † Did you know that researches are trying to make a television (made of plastic) that will roll up in your living room? Plastic – Health and Environmental Hazards Although plastic has many positive influences in everyday lives, there have been instances when plastics have posed some health and environmental hazards. Most plastics do not pose any health or environmental hazards, but some monomers that are used in manufacturing plastics, have been proved to cause cancer. Even though recycling continues to reuse plastics, most plastics do not rot and cannot be reused. Unfortunately, this has become an environmental problem: Where will the plastic be disposed? But, many researchers hope to find a solution to this dilemma in the future. When every plastic can be broken down, plastic will truly become the most useful product! Plastic – BaneNon biodegradable.Obstruct underground water percolation.Microbes cannot destroy them.Produce harmful gases when burnt.Plastic bags thrown into the open drains and sewers clog them and cause stagnation of water, which in turn poses health hazardsDisposable syringes, drip bottles, blood and urine bags and other medical accessories when disposed off in an irresponsible manner, cause a lot of serious health problems.Animals sometimes feed on plastics and die painfully as plastic chokes their digestive and respiratory tracts. What we can do: Avoid using plastic bags for shopping. Avoid disposing plastic bags with organic wastes. Avoid using plastic chairs and tables. Plastic is made of crude oil. So lesser usage of plastic saves the crude oil. Plastic from Plants: Is It an Environmental Boon or Bane? Plant-based plastics are beginning to replace petroleum. But as the price drops and usage rises, will the advantages outweigh the disadvantages? Facts:-More than 2. billion plastic bottles partially made from plants * PlantBottle from the Coca-Cola Co. is made by converting sugars from sugarcane farmed in Brazil into the polyethylene terephthalate (PET) * Most importantly from Coke's point of view, none of the six other major varieties of plant-based plastic can keep the carbonation from leaking out.PLASTIC WASTE MANAGEMENT IN INDIA Plastic waste is recycled in India in an â€Å"unorganized† way. 60% of the plastic-waste collected and segregated gets recycled back into materials for further processing into consumer products, while the balance is left unutilized. Regulations and legislations are being enforced in two States of India viz. Haryana and Himachal pradesh, while a National Plastic Waste Management Council Task Force has been set up by the Government of India, Ministry of Environment of Forests, with the association of Department of Petroleum and Chemicals, Ministry of Urban Affairs, Municipal Corporation of Delhi and various groups/associations of plastic manufacturers. Scope is there for the recycling/management of plastic waste, as an `organised activity’ in India Municipal solid waste in India contain 1-4 per cent by weight of plastic waste. India’s rate of recycling of plastic waste is the highest (60%) in the world as compared to other countries (China 10%, Europe 7%, Japan 12%, South Africa 16%, USA 10%). As a source of hazard to environment, plastic account for 16% of chlorine in the environment and have 54 carcinogens, polythene bags for disposal if burnt irresponsibly releases highly toxic gases like phosgene, carbon monoxide, chlorine, sulphur dioxide, nitrogen oxide, besides deadly dioxin. Polymers are gradually replacing natural materials like metal, timber and fibres and thereby conserving the natural environment. Polymers are now finding diversified uses through blends and alloys and giving higher standards of performance and life cycles to various products. Plastics waste forms a wide range. Predominantly it is film packaging and polythene carry bags, followed by blow moulded containers, and broken and discarded moulded items. POLICY MEASURES IN INDIA Various policy measures are being taken to check the nuisance caused by plastic waste in India, through there is no definite policy and legislation ramed in respect of mitigating the plastic waste in the country. These are – Regulations and legislation: (a) Until recently there has been no definite environmental policy and legislation framed in respect of plastic waste in India. The plastics waste gets generated, collected, traded, and reprocessed by known methods into useful products, thereby supplementing supply3 of raw materials, and at economic price. However, a HP Non-biodegradable Garbage (Control) Act, 1995, has been introduced by the Government of Himachal Pradesh. The Act appropriately envisages prohibition of throwing or depositing plastic articles in public places and to facilitate the collection through garbage in identifiable and marked garbage receptacles for non-biodegradables, placed at convenient places. Haryana State has announced a Bill (1997) on Non-biodegradable Garbage on similar lines as that of Himachal Pradesh. The National Plastics Waste Management Task Force of the Ministry of Environment and Forests, Government of India, has recommended a strategy and action programme of Plastics Waste Management in India. b) Ministry of Environment and Forests, Government of India have issued criteria for labeling `plastic products’ as `Environmental Friendly’ under its `Ecomark’ Scheme, in association with the Bureau of Indian Standards. One of the requirements for plastic products, is that the material used for packaging shall be recyclable or biodegradable. (c) The Bureau of Indian Standards, New Delhi (BIS) has issued guidelines on recycling of plastics waste including code of practices for collection, sorting through conventional practices continue to be adopted and accepted, need has been voiced to upgrade these, both by the authorities and NGOs. However, while formulating Indian standard specifications for various plastic products, used for critical applications like plastic piping system, water-storage tanks, packaging for food articles, a clause is included which reads â€Å"no recycled plastics waste shall be used†. An exercise has also been carried out by the Ministry of Environment and Forest in association with Bureau of Indian Standards to include use of recycled plastic waste wherever appropriate in the manufacture of plastic products and this should be specified accordingly in the relevant Indian Specifications. (d) The Prevention of Food Adulteration Department of the Government of India, has issued directives to various catering establishments to use only food-grade plastics, while selling or serving food items. Rules have specified use of `foodgrade’ plastic, which meets certain essential requirements and is considered safe, when in contact with food. The intention is to check possible contamination, and to avert the danger from use of recycled plastic. The Scheme announced in February, 1995 is being implemented in cooperation with Bureau of Indian Standards (BIS) which has formulated a series of standards on this subject. The Bureau of Indian Standards Sub-committee PCD 12. 17 is charged with formulating guidelines, codes and specifications for recycling of plastics. Two documents, viz. , â€Å"Guidelines for Recycling of Plastics â€Å" and `Recycled Plastics for Manufacture of Products, Designation’ have been finalised. (e) The Central Pollution Control Board, New Delhi had assigned a study on â€Å"Status of Waste Plastics Recycling in NCR Delhi† to Shri Ram Institute for Industrial Research Delhi. Among the conclusions of this study, the following deserve particular mention: – There is need to formulate and enforce code of good practice both for the processor and the consumer. In particular, standards need to be laid down for products from various plastics waste including the co-mingled one. – Directives should be imposed for a periodic air quality and health/hygienic check in the reprocessing units. (f) During September 1996, (and earlier during September, 1994) a National Conference on `Plastics and Environment’ was organised at New Delhi, by FICCI and Plast India Foundation. It was during the Conference that the Ministry of Environment and Forests, Government of India announced the setting up of National Plastics Waste Management Task Force, with representations of Department of Chemicals and Petrochemicals, Ministry of Urban Affairs, Municipal Corporation of Delhi, Plast India Foundation, The All India Plastics Manufacturers Association, All India Federation of Plastics Industry, NOCIL, IPCL, and experts from BMTPC, FICCI and CII. The Task Force has submitted its report (August 1997) and drawn Strategy and Action Programmed for Plastics Waste Management in India. (g) A National Association of PET industry has recently been formed by PET manufacturers and users in India which is expected to look after the organized collection and recycling of PET bottles/containers waste. CONCLUSION Plastic Waste Management has assumed great significance in view of the urbanization activities. Plastic waste generated by the polymer manufacturers at the production, extrusion, quality control ; lab. Testing etc. , stages, as well as, by the consumers require urgent disposal and recycling to avoid health hazards. Various strategies are being devised to mitigate the impact of plastic waste in India. Banning plastic bags oversteps the role of government The Huntington Beach City Council voted 4-3 on Oct. 4 to authorize an environmental impact report on the possible effects of banning plastic grocery bags in the city. The study is the next step in the council’s ill-advised crusade to eradicate single-use plastic grocery bags from within city limits and impose a fee of 10 cents per bag on shoppers who opt for paper bags from merchants. The proposed ban would be unwise, invasive and overreaching public policy because it attempts to use the coercive means of government to alter behavior and because it imposes a new fee on shoppers in Huntington Beach — the equivalent of a new tax. Residents of Surf City should be offended. Technically non-partisan Mayor Joe Carchio and council members Don Hansen and Matthew Harper voted against the proposal; all three are Republican, though the council is technically nonpartisan. Council members Connie Boardman, Keith Bohr, Joe Shaw and Devin Dwyer voted to move forward with authorizing the EIR. We find it peculiar that Mr. Dwyer would vote for such a policy, given that he describes himself as a conservative Republican. The council selected Rincon Consulting to conduct the study, which will cost nearly $30,000. The city will front the money for the report, but it is to be eventually borne by local environmental groups. The city will also pay an additional $10,000 in printing and copying costs for the study. Legislating personal behavior This second vote brings the council closer to making a bag ban a reality. But before proceeding, council members supporting the proposed ordinance ought to reconsider and ponder several questions: Is there sufficient evidence to suggest plastic bags actually have a significant impact on the environment compared with socalled reusable bags? Is it the role of the local city council to legislate personal behaviors and purchasing choices? Is it fiscally prudent to impose a paper-bag fee on residents? The Huntington Beach council majority is pursuing a reckless policy that will have a negative economic impact on the community and be a blow to the individual liberties of residents. Voters ought to reach out to City Hall, and, if that does not work, hold the council members who support the bag ban accountable at the ballot box.

Innovations management in organizations.Eastman Kodak Company Assignment

Innovations management in organizations.Eastman Kodak Company - Assignment Example Today, organizations perform in very dynamic environments. For example, technology keep on changings, new risks keep on emerging, and competition keep increasing as new players join the industry in which these organizations operate among others In order that organizations keep up with these changes, innovative problem solving techniques are required; otherwise organizations which do not embrace keeping up with these changes risk being edged out of competition by their rivals (Dooley & Lupton 2005). Amongst the worst challenges that organizations are faced with today is keeping up with technological changes (Dooley & Lupton 2005). Change in technology (both technologies required for running activities of organization or their products) has been so dynamic that organizations or companies which do not keep up with these changes may not be able to compete since their products or operations may be rendered obsolete (Dooley & Lupton 2005). For example, everything today is shifting from ana logue technologies to digital technologies which are considered more convenient in terms of cost, efficiency and speed (Harmancioglu et al. 2007). Just to mention a few products or industries which have been tremendously affected by the technology changes: cameras (digital cameras seem to be replacing traditional film cameras), TV (digital transmission is replacing the traditional analogue transmission), and phones (emergence of mobile phones have replaced the traditional telephone booths) among others. It has also been noted that some organizations are more innovative than others, and are likely to embrace technology than others. While their counterparts tend to keep their status quo of maintaining their star products or services, these companies keep examining the environments in which they operate so to identify likely change that may take place in future that has the capability of altering the environments in which these organizations operate. This paper, therefore, aims at exam ining how organization leadership and culture process influence the success of innovation. The paper will also explain why it is hard for an organization to replicate success of other organizations, and why organizations that embrace innovation are different from those that do not embrace technological change. These explanations will be supported by giving real world examples. The difference between these organizations Normally change cannot be managed, all organizations can do is going ahead of change, and it is those who lead change that are able to survive in the dynamics of technological environment. Therefore, organization managements should ensure that their organization go ahead of technological change and innovations. It is the role of the management to embrace change in their organizations, therefore, the difference between organizations that embrace technological innovation change and those that do not embrace these technological changes is that management of the former is more change focused, while management of the latter is more focused on maintaining status quo other than exploring new ways of doing things. Role of leadership, culture and process in the success of innovation Just as mentioned in the previous paragraph, it is the role of organizations leaders to enhance and embrace innovations within the management systems of organizations; it is them who are make policies that govern organizations, and therefore, have powers of developing and enhancing various cultures, including cultures of change and innovations within organizations. Therefore, the management of organizations which do not embrace the technological innovations and changes normally develops strategies of maintaining the market share of their traditional products (Laureate Education 2011). The management of organizations which embrace technological innovations, on the other hand, normally develops

Brand Image and Corporate Identity Essay Example | Topics and Well Written Essays - 750 words

Brand Image and Corporate Identity - Essay Example The two elements, brand name, and corporate identity must be addressed for the success of the firm. A brand name offers a distinction between a company’s product and other substitutes in the market. The main aim of the brand name is to enable customers to distinguish a particular product from a pool of substitutes. An effective marketing plan includes a brand name that the organization holds onto to enhance better response from customers. Marketing executives create unique brand names that are attractive to the customers and also create a clear distinction with other products such that customers can easily memorize and identify the brand. A successful brand name must be relevant, coherent, differentiated and be able to create a reputation. One of the firms that have a successful brand name is The Coca-Cola Company. Its brand name, Coca-Cola, has stood out in the face of stiff competition. The brand name is common to many soft drink buyers around the globe. The company uses its one brand name strategy to penetrate new markets and also maintain its existing market share (Lamb, Hair & McDaniel 2010). The brand, Coca-Cola, is known in virtually every household and thus cannot be confused with any other brand. A Brand name is made to stick into the target market and create a long-lasting loyalty to the brand despite other shortcomings of the firm (Berens, Riel & Bruggen 2005). Every product of a firm contains the brand name that acts as the marketing cornerstone. As such, marketers must ensure that the brand name is capable of attracting the target audience and also promote it aggressively so that it reigns in purchasing decisions made in the target market. Moreover, a brand name enhances the investors’ perception of the products of the firm and thus attracts investors, shareholders, and creditors.The corporate identity of a firm represents the general or the overall way.

Self-Introductory Speech ( My wedding) Essay Example | Topics and Well Written Essays - 250 words

Self-Introductory Speech ( My wedding) - Essay Example Later in the evening, my female relatives and friends were invited over for dinner during which my husband would see my face for the first time in front of them. The wedding finally took place in the summer on 11th June 2014. We were still in the US at the time, so all the wedding arrangements were made by my family. On the wedding day, Ali went to the barbershop during which he would bond with his male counterparts. There was lunch at the farm for our family and friends as we waited for the actual feast in the evening. In my case, a day prior to the wedding, as Muslim custom dictates, my female friends and high would bond while we put henna on our hands and feet. I woke up very excited on the wedding day, put on my white dress and went to the wedding venue to wait for my husband. The parties were held separately, and I felt overwhelmed with all the love and support I received from my friends and family congratulating me for my wedding and expressing their happiness. Later in the evening, the groom’s party finally joined us, and the festivities continued up to 3 a.m. with people mingling, dancing, taking photos and feasting in the var iety of food. The wedding day is then followed by the Subahia, a small party is held in which the bride and the groom receive gifts from their family, friends and relatives. I believe that my wedding day was one of the most memorable moments in my life, and not just on that particular day but the entire process from the engagement. I hope to base the foundation of my marriage with love and loyalty, and that it always remains one filled with warmth and understanding. Everything turned out to be a success given the support I got from my family and friends on this special

Problems Faced by a Fictional Organization in which the Solutions are Term Paper

Problems Faced by a Fictional Organization in which the Solutions are Presented by Knowledge of the Core Learning Outcomes - Term Paper Example Efficiency means to achieve the best results using the minimum amount of resources. Effectiveness implies being able to perform a work task good and in a timely manner. Recycling is a practice that increases the efficiency of the company by processing the recycled material and subsequently using it as raw material for production. Recycling is one if the hottest green practices throughout the world because it is safeguarding our natural resources by reducing the consumption in the limited reserves of certain important commodities such as petroleum. A second example of efficiency is after a downsizing strategy being able to produce the same output with a lower amount of workers. A third example of efficiency could be changing the inventory acquisition strategy of the company to a just-in-time mechanism. Another example of efficiency is performing inventory audits to determine the presence of expired or obsolete merchandise would should disposed off and written off the accounting books. A person is effective when they select to purchase at the same store instead of shopping at three or more places because the customer achieves time and gasoline. Effectiveness can be achieved in the workplace by sharing the work tasks in an equal manner without forcing one employee of doing too much. â€Å"The four functions of management are plan, organize, direct, and control† (Rue & Byars, 2011). Planning involves creating objectives, goals, and action plans for the future. In finance the use of pro-forma financial statements is an example of planning because it provides forecasts of financial statements for future period of time. Pro forma financial statements are typically prepared up to three years in the future. Planning can also be used to estimate the resource the company is going to need in the future. When an organization visits college campus to recruit students they are planning for their future human resource needs. Budgets are prepared to determine what purcha ses a company must perform during a fiscal year. The second function of management is organizing. The resources of the company must be well organized in order to optimize its use (Buzzle, 2011). An example of an organization practice dealing with human resources is separating employees in work groups. Managers that are organized a better able to deal with the pressures and stress the profession causes. The third managerial function is directing. Managers direct their employees through motivation. Direction also means overseen the work performed by the workers in the company. Direction works best when the employees are able to provide feedback and can contradict the manager without any repercussion for expressing their opinion. The fourth managerial function is control. Control can be achieved by providing specific guideless and processes to perform at work. Control involves evaluating the employees work and taking corrective actions to fix the problems. Controls mechanism can be use d to safe guard the assets of the company to put cameras at point of sale terminals and in the warehouse where the inventory is located. Leadership and management are two completely different concepts, but they are often interconnected. â€Å"Leadership can define as a special case of interpersonal influence that gets an individual or group to do what the dealer wants

Fats - Details listed below Essay Example | Topics and Well Written Essays - 250 words

Fats - Details listed below - Essay Example It is actually a major component of the cell membrane and in involved in many activities of our body especially in the metabolism. The major kinds of fat that are present in our diet include the monounsaturated, polyunsaturated, saturated and trans fatty acids. These kinds of fats are classified based on the differences in their chemical structure which also determines if these fats have a â€Å"good† or â€Å"bad† effect on the cardiovascular system. Before presenting the good and bad fats, let’s first discuss the implication of cholesterol which greatly affects our cardiovascular health. Cholesterol is a steroid alcohol which is performs many functions in the body. It is an important component of cell membranes which regulates its fluidity. It is also a precursor for important substances in the body like bile acids, steroid hormones, and vitamin D. However, there are good or bad types of cholesterol (Jonas, 2002). The bad cholesterol includes the LDLs (low dens ity lipoprotein) while the good cholesterol includes the HDLs (high density lipoprotein). The HDL helps keep the LDL from getting deposited into the blood vessel walls. Moreover, high level of HDL and low levels of LDL may help protect us from heart attack and stroke, while low levels of HDL and high levels of LDL have been shown to increase the risk of heart disease.

A Society full of Smarty Pants Term Paper Example | Topics and Well Written Essays - 1000 words

A Society full of Smarty Pants - Term Paper Example It is believed that with the advent of technology people have been able to live a much happier life. When computers were invented, they were made to do fast calculations. Nowadays they have become an integral part of our lives. Computers have been able to make our lives happier and much more comfortable than what they were before. With the advent of the 21st century, computers were made to solve simple mathematical calculations. People realised that there was a requirement for a machine which would work alongside their profession as a means to enhance the productivity. It became important that a machine would be there which would work efficiently to make the calculations simpler and easier. In the lat 1980’s the first computer was launched for the usage of the public. It was invented by Apple, which boasted of Steve Jobs and Steve Wozniak as the chief architects and designers of machine. (Finn, Chester) Steve Jobs came up with the first computer software which was known as the Macintosh, introduced to the world in 1984. It was the first computer which had the graphical user interface installed as a pre requisite in the computer operating system. Steve Jobs was very intrigued b the way graphical user interface worked, and therefore tried his best to introduce it to the Macintosh. Nowadays, computers have become of an immense importance to the people worldwide. The biggest advancement with the technology of computers happened with the introduction fo the internet. The internet changed the shape of the lives of the people. It developed the whole knowledge base into one source of information and there was literally a parallel world running through the wires of the internet. Through the internet people have been able to be close to each other without having to call or send a post card. This has been developed by the coming of the E- mail system which has allowed people to send and receive mails from anywhere in the world without having to wait for it or to pa y any additional money for it. (Impact of Computers) Webcam has allowed people throughout the world to engage in video conversations without having the need to have a video phone. This has been a remarkable achievement considering the fact that there was a time when people would not see each other for aageas and now if one is away from the family then he can simply call his family on the web using the web cam and that would allows the couple to see each other’s faces without the hassles of the previous days. â€Å"Information is probably the biggest advantage internet is offering. The Internet is a virtual treasure trove of information. Any kind of information on any topic under the sun is available on the Internet. The search engines like Google, yahoo is at your service on the Internet. You can almost find any type of data on almost any kind of subject that you are looking for. There is a huge amount of information available on the internet for just about every subject kno wn to man, ranging from government law and services, trade fairs and conferences, market information, new ideas and technical support, the list is endless.†

Safety and Health Issues Assignment Example | Topics and Well Written Essays - 500 words

Safety and Health Issues - Assignment Example The other article was a study conducted by Oliviera and Sousa as quoted in Nunn (2011), where the research showed that motorcycles are really prone to accidents. Data gathered from forensic investigation of death records and accidents of motorcycle crashes support the findings that of all motor vehicles, it is the motorcycle that is more prone to accidents. Studied showed that even if there is enough illumination of 87.4% of the time, motorcycle still has accidents in urban areas of the time 99.4%. This figure means that motorcycles are not advisable to cities even if it is well lit because they are prone to accidents. With this figure, motorcycles also are bound to crash against cars or pick-ups 55% of the time. It meant that more than half of road accidents that involve vehicles, more than half of it has something to do with motorcycle. Even with the absence of bad weather or slippery road, motorcycles are still bound to have accident in cities 806%. Traffic signs also do not help because motorcycles still suffers from accident 706% of the time (405). Further, it is very bothering that among all vehicles, it is with motorcycles that has death fatalities. Quoting the study of Oliviera and Sousa, â€Å"The percentage of fatalities was higher than survivors in collisions with heavy vehicles, fixed objects and between motorcycle†.To quote him â€Å"Motorcycles are a dangerous mode of transportation. Relative to four-wheeled vehicles, motorcycles pose a greater threat of death or serious injury to operators and riders.

The Speckled band Essay Example for Free

The Speckled band Essay Now, of course that suggests at once there must be a communication between the two rooms. It can only be a small one, or it would have been remarked upon at the coroners inquiry. I deduced a ventilator Holmes explained to Watson. In Dr Roylotts bedroom the position of the wooden chair showed it had been used to stand on to reach the ventilator, An inspection of his chair showed me that he had been in the habit of standing on it, which, of course, would be necessary in order that he should reach the ventilator Holmes told Watson. The other clues found in the stepfathers room by Holmes were a metal safe with a saucer of milk on the top of it, on finding this Holmes asks there isnt a cat in it for example? at which Helen replies No what a strange idea! . In Dr Roylotts room there was also a small dog lash hung on one corner of the bed. The lash, however, was curled upon its self, and tied so as to make a loop of whipcord. The red-herrings in the story relates to the speckled band which Julia had said before her death, O, my God! Helen! It was the band! The speckled band! . Helen had thought that her sister was referring to the gipsies spotted handkerchiefs Which so many of them wear over their heads might have suggested the strange adjective which she used. The gipsies were camping on the ground of the Stoke Moran estate with Dr Roylotts permission. The estate also had a cheetah and a baboon roaming the estate grounds which had frightened Helens sister greatly prior to her death. Dr Roylott has a passion also for Indian animals, which are sent over to him by a correspondent and these animals wander freely over his grounds, and are feared by the villagers almost as much as their master Helen informed Holmes. Within both stories we see Holmes as a respected master of deduction in the Victorian period. The language is formal with Holmes using long sentences to explain the methods he has used to investigate and solve the crime and disappearance. This is shown when Holmes informs Watson in The Speckled band that he had come to an entirely erroneous conclusion , which shows , my dear Watson , how dangerous it always is to reason from insufficient data . In The Man with the twisted lip Holmes remarks to Watson There is plenty of thread , no doubt , but I cant get the end of it in my hand. This is the language used during the Victorian time. It is also apparent that both Helen Stoner and Mrs St Clair have sought help from Holmes as they have heard that he has a reputation for solving crimes. Sherlock Holmess character in The Man with the twisted lip is a well known and respected man by the police force this was seen when he entered the police station in Bow Street the two constables at door saluted him. The police are willing to work with him as seen by Inspector Bradstreet showing him into his office and asking him what can I do for you Mr Holmes? he then provides him with information about Hugh Boone and allowing him into to cell were he was imprisoned. His authority and the way he is able to reassure people is seen when he confronts Neville St Clair in the cell Sherlock Holmes sat down beside him on the couch, and patted him kindly on the shoulder. He uses his authority to persuade Neville to provide information to Inspector Bradstreet so that the case would never go into court at all this is to avoid the shame, the publicity of a court hearing which would bring to his family. The way that Holmes worked in solving the disappearance is by quietly sitting and thinking all through the night with an old brier pipe between his lips, his eyes fixed vacantly upon the corner of the ceiling, the blue smoke curling up from him, silent, motionless, with the light shinning upon his strong-set aquiline features this shows that Holmes is committed to his job. In The Speckled Band Holmes works quickly and methodically to solve the crime by inspecting the house where the death occurred, whatever danger threatened an occupant of the room could not come either from the window or the door this shows that he uses his detective skills to piece together the clues like a jigsaw. He also works in a calm and composed manner, this is shown in the way Holmes deals the Swamp adder the deadliest snake in India, Without hesitation he drew the dog whip swiftly from the dead mans lap, and throwing the noose round the reptiles neck, he drew from its horrid perch, and, carrying it at arms length, threw it into the iron safe, which he closed upon it, this is showing that he is brave and deals with danger without hesitating. As well as this Holmes shows his commitment to his profession, this is shown in the way he informs Helen Stoner As to reward, my profession is its reward this means that Holmes motivated by solving crimes and not by money. The endings of these two short stories are different in The Man with the twisted lip there is a happy ending were the main character is reunited with his wife and family having gone missing for several days. The Speckled Band ends with the death of Dr Roylott who is killed by the swamp adder. In The Man with the twisted Lip the ending concludes a successful piece of investigative work by Holmes and Watson as they restored the normal everyday life of Mr and Mrs Neville St Clair. Apart from Mr St Clair going missing for a few days there is no scandal, as the newspapers do not find out the facts behind his disappearance and is wife is not told the true story behind his disappearance. So satisfied in Holmes with the outcome of this investigation that he says to Watson If we drive to Baker Street we shall be in time for breakfast. The ending to The Speckled Band is not happy as it results in the death of Dr Roylott, this does not play on Holmess his conscience as Dr Roylott is described by Helen Stoner as a man of immense strength , and absolutely uncontrollable in his anger. An example of this is given he hurled the local blacksmith over the parapet into a stream. The final sentence of this story ends with Holmes stating that I am no doubt indirectly responsible for Dr Grimesby Roylotts death ,and I cannot say that it is likely to weigh very heavily upon my conscience. To conclude from looking at detective fiction in the nineteenth century and comparing the two short stories above I have been able to examine the winning formula that detective fiction has been written to. This is the way these stories are written to involve the reader in the detectives role of gathering clues, to solve the crime and find the culprit. This method has stood the test of time; in fact detective fiction is probably stronger today than it was in the nineteenth century. This is due to having wider audience as it has been translated into television and its popularity is evident as it scores of highly in the ratings. Harry Johnson 1 Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Arthur Conan Doyle section.

Dirty Dominos Essay Example for Free

Dirty Dominos Essay On April 13, 2009, a video emerged on YouTube showing a Domino’s Pizza employee – Michael Setzer – tampering with a customer’s food orders. Doing the filming was Kristy Hammonds, who was on the same shift as Setzer when the incident occurred. In the video, Setzer is shown stuffing cheese up his nose before placing it on some garlic bread, intentionally sneezing on other food items, and even wiping his backside with a sponge before using it to wash dishes. In the background, Hammonds is heard laughing and narrating; â€Å"in about five minutes, they’ll be sent out to delivery, where somebody will be eating these, yes, eating them. By 9:30pm the following evening, the video had attracted nearly one million views. References to the video were also showing up in Google search results for Domino’s. The incident was also receiving increasing news coverage, both locally and nationally. Making matters worse, the media released details of Hammonds’ criminal record, indicating that she was a registered sex offender. At first Domino’s senior management decided to do nothing, assuming that the hype would die down and the situation would get better by itself. But the issue was far from fading away, so Domino’s felt it was necessary to act. First, they had the video removed from YouTube, but numerous other cites had already downloaded it, making distribution of the video impossible to control. Next the two employees were immediately fired and charged with contaminating food distributed to the public. Finally, on the advice of the local health department, the franchise owner discarded all open containers of food and sanitised the entire branch. Despite these efforts, the issue was still not going away. It was becoming increasingly clear that Domino’s needed to respond publically – but how? To whom? And when?

Impacts of Volcanic Eruptions on Urban Communities

Impacts of Volcanic Eruptions on Urban Communities Volcanoes, Environment and People Degree Assessment Compare and contrast the impacts of volcanic eruptions on urban communities in pre industrial and post – industrial evolution societies. Introduction The industrial revolution refers to a period in history that roughly occurred between 1760 and 1840, which saw the transition from old to newer manufacturing processes. It is regarded as a major turning point in history, influencing most aspects of daily life, even today. The revolution saw a change from traditional hand production to the use of more modern tools, machines and new technologies. Technology became more advanced and its use became more significant. Gaillard (2007) suggests that pre industrial revolution societies, like those discussed in this essay had a more intimate relationship with the natural environment, which plays a key role when assessing the impacts of a volcanic eruption. In this essay I will firstly compare the impacts of a pre and post industrial revolution eruption of Mount Vesuvius. Their impacts on urban communities will then be discussed in comparison with the more recent eruptions of Eldfell in Iceland and the Soufriere Hills volcano in Montserrat. For the purposes of this essay urban communities will be defined as a substantial group of buildings or people in one area. To assess the impacts of a volcanic eruption on an urban community, the nature of the community will need to be considered. Impacts of the eruption will vary between communities depending on a number of factors including closeness to the eruption, infrastructure, transport links, predication and preparation and the overall development of the community (Marzocchi et al., 2004). Different types of volcanic events will also produce different types of hazard (pyroclastic flows, tephra fallout, and gas emissions) which also need be considered in the assessment of a volcanic eruption. Pre Industrial Revolution Vesuvius, AD79 Mount Vesuvius is located in a densely populated area, with thousands of people living on its flanks and in the immediate vicinity of the volcano (Marzocchi et al., 2004). In the past Vesuvius has produced several large eruptions, including the most well known eruption which destroyed the town of Pompeii in AD79. This was a VEI5, Plinian eruption that consisted of two stages. Usually Plinian eruptions are classified by three stages; an initial eruption phase with a sustained eruptive column of gas and pyroclastic material; a second phase in which the eruption column collapses and generates pyroclastic flows which could reach speeds of up to 100km/h and finally the generation of dense, rapid mudflows generated by water on steep slopes (Barberi Zuccaro, 2006). In the case of the Vesuvius eruption in AD79 only stage one and two occurred. There were no mudflows, only pyroclastic flows. (Lirer et al., 1973). The eruption produced a 32km high eruption column and extensive tephra all out south of the eruption resulting in accumulation of tephra 2.8m thick over Pompeii and other regions (Sigurdsson et al., 1982). Sigurdsson et al (1982) presents evidence to support the collapse of roofs under the weight of pumice that fell and consequently the destruction of infrastructure throughout the town. The tephra fall would also have made it very difficult for people to be outdoors around that time. The town would have been in total darkness and they would have had to wade through several metres of tephra on the ground. Despite this, this first stage of eruption was non lethal. It alarmed people but gave the majority of the population time to flee. 2000 deaths were accounted for out of the 20,000 people living in Pompeii and neighbouring towns (Luke, 2013). The second stage of the eruption consisted of six pyroclastic flows, during which most death and destruction to property occurred. Figure 1 details that between them, six pyroclastic flows travelled from the volcano, covering the towns of Herculaneum, Oplontis and Pompeii. The flows travelled 32km west across the Bay of Naples to Misenum and south east of Stabiae (Siggurdsson et al., 1982). Figure 1. Map of Vesuvius and surrounding towns showing pyroclastic flow deposits and the extent of the pyroclastic flows during the AD79 eruption (Source: Siggurdsson et al., 1982). The AD79 eruption of Vesuvius is an example of how communities with the most insecurity are the most vulnerable to hazards and have the capability of turning them from hazard to disaster (Gaillard, 2007). Through studies carried out on the settlement of Palma Campania a commune in Naples, Grattan (2006) showed that although most of the population was killed by tephra fall and pyroclastic flows there was reluctance to permanently build a settlement on the volcano plains, suggesting that instead of mitigating the effects of a volcanic eruption the communities instead chose to deal with them. They derived a method of coping and learning to live with the sudden environmental change. Compare this with the smaller VEI3 eruption of Vesuvius in 1944 and the impacts are very different. Although the eruption was smaller, there was more of an impact on nearby towns because of the nature of the community (Barnes, 2011). Important buildings such as schools and hospitals were built very close to fracture zones on the volcano flanks where open vents had previously been recorded. Under these conditions, living and having important amenities in such close proximity, events smaller than the 1944 eruption could be catastrophic from an economical and social point of view (Marzocchi et al., 2004). From a comparison of the two Vesuvius eruptions it is evident that the hazards each volcanic eruption produced were similar, however the way the communities chose to deal with them and therefore the impacts of each eruption are different for pre and post industrial communities. With a simpler way of life, post industrial revolution communities towns were able to easily change aspects of their daily life and adapt to living with a volcano. In a way, modern technology could be considered a downfall. If a super eruption were to happen it would apply stress to all aspects of modern day life. Air travel would be practically impossible because of airborne tephra, climate change would be severe and affect crop production across the globe, telecommunications would be restricted and huge areas would be affected by tephra fall and toxic gases (Grattan, 2006). Although that is a worst case scenario it highlights how post industrial revolution or modern communities may not always be better off. Post Industrial Revolution According to Marzocchi et al (2004) the hazards a volcanic eruption presents are hard to quantify because of the complexity of the eruptive processes and the unreliability of past data. However, it is thought that the advancement of communities means that a volcanic eruption poses a greater threat as there is more at risk. The eruption of Eldfell, a volcanic cone on the Icelandic island of Heimaey does however show how technologies of the industrial revolution could work towards reducing the hazards a volcanic eruption presents. Eldfell, 1973 The eruption of Eldfell began, without any warning, on the 23rd of January 1973, as a fissure crossing the island (Morgan, 2000). It caused a major crisis for the island, almost causing permanent evacuation. Volcanic ash fell on most of the island and more than 400 homes were destroyed as roofs were not constructed to deal with the weight from ashfall. Tractors were used to remove ash from the roofs and save some of the buildings (Morgan, 2000). Figure 2 shows the town of Vestmannaeyjar during and after the eruption and gives an idea of the scale of damaged caused by the eruption. It was most at risk because of its close location to the volcanic fissure. It was threatened by tephra fall and lava flows (Thorarinsson et al., 1973). The lava flows that threatened the towns also threatened the harbour, the islands main source of income. The response to the lava flows was to spray them with sea water, which cooled them down and stopped further advance, saving the harbour (Morgan, 2000). Figure 2. Houses nearest the fissure were destoryed by volcanic bombs thrown from the volcano during thr eruption (Left). The right image shows the town of Vestmannaeyjar after lava had advanced onto it. Cooling hoses used to cool the lava are highlighted in red. (Source: Morgan, 2000) Although the scale of the Eldfell eruption was relatively small, the town of Vestmannaeyjar was put at risk because of its location of the fissure. The fissure opened up at the edge of the town with the lava destroying 200 buildings, and more being damaged by tephra fall (Dugmore Và ©steinsson, 2012). Despite this the death toll for the Eldfell eruption was low as there were resources and space to evacuate those in immediate danger. Boats transported people off the island to Reyjavic where schools and other larger buildings acted as receptions for the evacuees. Compare this with the Pompeii eruption where the resources were unavailable and lack of knowledge made evacuating people not an option. Even if the resources were available, it would have been physically impossible to relocate such a large population. In Iceland, volcanism is considered to be one of the principal causes for lack of development (Dugmore Và ©steinsson, 2012). In most cases, the negative impacts of a volcanic eruption have been kept to a minimum both by environmental and cultural factors. There is little to encourage people to settle in immediate volcanic zones; high elevations are unfavourable in terms of climate and the steep slopes of the volcano flanks are difficult to build on. Social systems within Iceland are well suited to coping with volcanic hazards so when an event does occur it will not have such a great impact as if it were to occur in Britain for example (Dugmore Và ©steinsson, 2012). Soufriere Hills, 1995 Montserrat is a small island in the Caribbean that consists of 4 volcanic centres: Silver hill, Centre hills, Soufriere hills and South Soufriere hills. The map in figure 3 shows the location of the 4 volcanic centres on the island (Wadge Isaacs, 1988). Figure 3. Map of Montserrat showing the 4 volcanic domes. Chances Peak, responsible for the 1995 eruption is highlighted in red. (Source: Wadge Isaascs 1988) Chances peak was responsible for the eruptions from 1995 onwards (Figure 3). The eruption began in 1995 after a period of seismic activity and small warning signs of an eruption (Robertson et al., 2000). The most intense eruptions occurred in 1997 and consisted of pyroclastic flows, lahars and tephra fall. The advancement of tephra and pyroclastic flows and the settlements around the volcano that were destroyed throughout the eruption is shown in Figure 4. Figure 4. Chances Peak and the location of nearby settlements. Shows the progression of the eruption during 1997 to 1998 and depicts the settlements that were destroyed by pyroclastic flows, lahars and tephra fall. (Source: BBC Bitesize) Through recognition of distinctive patterns in seismic activity and monitoring signals, short term forecasts of volcanic activity were able to be made so those most in danger could be evacuated at the most appropriate time (Robertson et al., 2000). The islanders in close proximity to the volcano were evacuated to the north of the island, to neighbouring countries and to the UK as Montserrat is a British dependant territory (Young et al., 1998). In total, only 19 people who chose to stay behind were killed by the eruption. The Soufriere Hills volcano provided an opportunity for modern technology and volcanological thinking to be fully utilised in the thorough documentation and the provision of accurate and timely disaster mitigation advice (Young et al., 1998). Conclusion To conclude, the nature of a volcanic hazard, the social status of the population exposed to the hazard, geographic setting and the rehabilitation policy set up by authorities vary between time and place (Gaillard, 2007). In the cases discussed above, all the eruptions produced similar hazards (tephra, lahars, pyroclastic flows) but the nature of the community and the way the population responded made the impacts different. Post industrial revolution communities use technology to their advantage in aiding after the eruption but also before the eruption, in the prediction and preparation stages. From the case studies, it is evident that forecasting plays a fundamental role in volcanic hazard mitigation (Sparks, 2003). It is vital for predicting when/where eruptions will occur, the kinds of hazards associated with the eruption, how long the eruption is likely to last and if populations in close proximity to the volcano are at risk. Plans can then be put in place to reduce the risks related to an eruption on a community. References Barberi, F. and Zuccaro, G. (2006) Somma Vesuvio Mesimex: the final technical implimentation report Barnes, K. (2011). Volcanology: Europes ticking time bomb. Nature, 473(7346), pp.140-141. Dugmore AJ, and Và ©steinsson O (2012) Black sun, high flame and flood; volcanic hazards in Iceland. In Cooper J, Sheets P (eds) Surviving Sudden Environmental Change: Answers from Archaeology (University Press of Colorado: Boulder) p 67 -90. Gaillard, J.-C. (2006), â€Å"Traditional societies in the face of natural hazards: the 1991 Mt Pinatubo eruption and the Aetas of the Philippines†, International Journal of Mass Emergencies and Disasters, 24(1), pp. 5-43 Gaillard, J. (2007). Resilience of traditional societies in facing natural hazards. Disaster Prevention and Management, 16(4), pp.522-544. Grattan, J. (2006). Aspects of Armageddon: An exploration of the role of volcanic eruptions in human history and civilization. Quaternary International, 151(1), pp.10-18. Lirer, L., Pescatore, T., Booth, B. and Walker, G. (1973). Two Plinian Pumice-Fall Deposits from Somma-Vesuvius, Italy. Geological Society of America Bulletin, 84(3), p.759. Luke, BT. (2013). Roman Pompeii, Geography of Death and Escape: The deaths of Vesuvius, PhD Theses, Kent State University Marzocchi, W., Sandri, L., Gasparini, P., Newhall, C. and Boschi, E. (2004). Quantifying probabilities of volcanic events: The example of volcanic hazard at Mount Vesuvius. J. Geophys. Res., 109(B11) Morgan, A. (2000). The Eldfell Eruption, Heimaey, Iceland: A 25-Year Retrospective. Geoscience Canada, 27(1). Robertson, R., Aspinall, W., Herd, R., Norton, G., Sparks, R. and Young, S. (2000). The 1995-1998 eruption of the Soufriere Hills volcano, Montserrat, WI. Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences, 358(1770), pp.1619-1637. Sigurdsson, H. et al. (1982) The eruption of Vesuvius in AD 79: reconstruction from historical and volcanological evidence. American Journal of Archaeology 86, pp. 39–51 Sparks, R. (2003). Forecasting volcanic eruptions. Earth and Planetary Science Letters, 210(1-2), pp.1-15. Thorarinsson, S., Steinthorsson, S., Einarsson, T., Kristmannsdottir, H. and Oskarsson, N. (1973). The Eruption on Heimaey, Iceland. Nature, 241(5389), pp.372-375. Wadge, G. and Isaacs, M. (1988). Mapping the volcanic hazards from Soufriere Hills Volcano, Montserrat, West Indies using an image processor. Journal of the Geological Society, 145(4), pp.541-551. Young, S., Sparks, R., Aspinall, W., Lynch, L., Miller, A., Robertson, R. and Shepherd, J. (1998). Overview of the eruption of Soufriere Hills Volcano, Montserrat, 18 July 1995 to December 1997. Geophysical Research Letters, 25(18), pp.3389-3392. 1

My Teaching Philosophy Statement Essay -- Philosophy on Education Teac

My Teaching Philosophy Statement There are many teachers, with many different teaching styles. There are teachers who are strict and do not allow for any disruptions in the classroom. Then we have teachers who do not even really care what is going on in the classroom. The way that these teachers, and so many more, teach is a result of their personal philosophies on education. Before you can decide how you want to run your classroom, you need to remember that not all students learn in the same way. Some learn by doing things on their own, while others learn better in groups. Some students learn with rote memorization and others learn from doing. Every classroom has students of every kind. So, when you are thinking about classroom management, you always have to think of what is best for the students and not just for you. Just like you have to think about the students, you have to think about what you are teaching and what the best way to go about teaching it is. If you are an English teacher, you would not want the students to write papers as a group and likewise, if you are a science teacher students should not have to do experiments on their own. Education is very important for a person to succeed in life. The purpose of education is to prepare a student for life and to discover themselves. As a teacher, I hope to help students not only learn what is required but I hope to make them want to discover more on their own. I want them to want to learn. As for the students, I only expect them to put forth their best efforts and try. Not everyone likes everything and I would not expect someone to. As for the way that I want to teach, I want to use a combination of pragmatism and idealism. Students shou... ...t to me, but I feel that the way that I will teach best suits me and best suits the interests of my future students. I want to be the best teacher that I can be and this is the way that I will do this. By being open and democratic. I plan on teaching science and I feel that it is one of the most important subjects that a student will have during his or her high school career. Science is the foundation for everything that we know. Without it, we would live the lifestyles that we do today. As for my future, I hope to become a teacher that is respected and liked. I want to learn from my mistakes and continue to grow and learn. Right now, I do not see myself as going on to receive a masters or anything, but that could always change. The future is hard to decide on but I do know that I want to be a teacher and make a difference in at least one persons life.

The Damming of the Yangtze River Essay -- Three Gorges Dam China Essay

The Damming of the Yangtze River Since the 1920's, when the dam was first proposed, the Three Gorges Dam has been a topic for debate in the People's Republic of China. The construction of the world's largest hydro-electric project on the Yangtze River would be a detriment to the native flora and fauna, submerge rich farmlands, destroy archaeological sites, and force the evacuation of millions of people. Faced with international, as well as domestic, criticism about the ecological and social havoc the Three Gorges Dam would cause, the government of China has remained unnerved and has started construction on this highly questionable project. In December of 1995, Chinese Premier Li Peng officially launched the project at a construction site at Sandouping. However, the fight is not over yet since it will take close to twenty years to finish this massive water project. The Yangtze River is the third largest river in the world, spanning a length of 6,300 kilometers. Construction of this dam would be along a 200 kilometer stretch in the upper reaches of the river known as Three Gorges. The Xiling, Wu, and Qutang Gorges, collectively called the Three Gorges, contain some off the most scenic and beautiful landscape in the world. However, with the construction of the Three Gorges Dam, most of this awe-inspiring scenery would be submerged and lost forever. Never before has a dam of such magnitude ever been attempted in the world. The Three Gorges Dam will stretch 2-kilometers (1.3 miles) across the Yangtze River, tower 185 meters into the air (610 feet), and create a 600-kilometer (385 miles) reservoir behind it (Probe International). It will also be the most costly dam ever built once, and if, it is completed. "Estimated costs of... ...erms of electricity and flood control. From the construction that has gone underway and from the diversion of some of the Yangtze River flow, it is obvious that the Chinese government, in its child-like "mine is bigger than yours" mentality, is determined to construct the largest megadam the world has ever seen. Works Cited Childs-Johnson, Elizabeth, Joan Lebold Cohen, and Lawerence R. Sullivan. (1996, November-December). Race against time. Archaeology. Leopold, Luna B. Sediment Problems at Three Gorges Dam. Website location: http://www.irn.org/programs/3g/leopold.html Probe International. Three Gorges Dam Campaign. Website location: http://www.nextcity.com/ProbeInternational/Three Gorges/ Topping, Audrey Ronning. Environmental controversy over the Three Gorges Dam. Earth Times News Service. Website location: http://www.earthtimes.org/chinanov11.htm

Employee Organisations & Unions Essay -- Business and Management Studi

Employee Organisations & Unions If employers and employees have a history of good working relationship and mutual trust, reaching decisions, which are fair under the circumstances, would be achievable. For example, if the business is poor and redundancies are possible, it would be impossible to find a solution to suit everyone so the employer would have to make a difficult decision. Good relations between employers and employees are only possible if both feel that they can discuss major problems and anticipated changes, if there can be discussion and consultation about key issues and if they genuinely want to work together to find a solution. After employees have been involved in a consultative process they are usually more likely to accept a negotiated outcome. A trade union is a voluntary organisation which employees are free to join if they wish. There may be a subscription charge depending on size; it varies from a very large association to a small association. Trade unions offer a range benefits and advisory services to members, represent their members during disciplinary or grievance procedures and aim to protect and improve pay and conditions of employment. They approach the government about introducing laws, which will benefit employees. Staff associations do not automatically have the same legal rights as independent trade unions, although many do. They may just provide an informal meeting ground for employers and employees and often have ...