Elizabeth Bishop

Personal Response to Texts Essay Format English Language Arts In a personal response to text essay the writer may choose to keep the format of the essay critical, in which the pieces of literature presented are analyzed. The writer will also relate their own experience as it relates to the material provided using emotional and sensory detail. The important thing to remember is that this format of an essay, unlike the critical/analytical response, allows you to use personal pronouns (except the word ‘you’) I.INTRODUCTION a. GENERAL STATEMENT to introduce the topic in the question. b. FOCUS into answering the question; you should also mention the literature and/or other materials and situations you will be referring to here. You may use a phrase such as: â€Å"In life, as in literature, people . . . † Follow this statement with the introduction of the materials you will be discussing in your essay. Do not talk about yourself or your experience yet because you want t o build a bridge of common knowledge with your readers first. . CONTROLLING IDEA/THESIS STATEMENT: This is where you answer the question being asked. You answer what is conveyed about people and set up what you will explain/support/prove in your body paragraphs. (You can have one point supported by all paragraphs, or one for each paragraph – the choice is yours: look at your examples and what they will support before writing your thesis. ) II. BODY PARAGRAPHS (please note that c and d are reversible; order does not matter, as long as both are present.Likewise, you may choose to have one paragraph deal with the text entirely and then your second paragraph would explain/develop your personal connection to the text) (Minimum 2 paragraphs) a. TOPIC SENTENCE: a general statement; the point from the thesis you will be addressing/supporting/proving in this paragraph. b. EXPLAIN more about the paragraph topic in your own words. c. PERSONAL ANECDOTE: Give an example from your own life , or from reality, that proves your topic sentence true; that is, the real example you give shows that people do the thing your topic sentence says they do.THIS IS THE ONLY PLACE IN YOUR PAPER THAT YOU MAY USE PERSONAL PRONOUNS: I, MY, ME, ETC.. OTHERWISE IT IS A FORMAL PAPER AND SHOULD BE WRITTEN AS SUCH. d. SPECIFIC EXAMPLE from the Texts: find an example you can explain and/or quote from the text or other materials you’ve been provided with, which supports the topic sentence and proves it true. State the situation from the piece of literature or describe the visual, what happens/how the situation is addressed, and what the outcome of the situation is to adequately prove your point. . III. CLINCHER SENTENCE: Sum up your paragraph’s point/argument in a general sentence; restate your topic sentence more specifically. CONCLUSION a. SUMMARIZE your main points; restate your thesis (look at your clincher sentences to help you). b. FINAL THOUGHTS: End with a thought provoki ng statement that will leave your reader thinking about and with an impression of your overall argument – this should be a strong statement that sums up your overall argument. English Language Arts -1- George McDougall High School

Intelligence oversight Essay

Introduction: MEK Overview The Mujahadeen-e-Khalq (MEK) is also known as the People’s Mujahedin of Iran (PMOI). MEK has been sporadically active in attempting to overthrow the Iranian government since the early 1960s, and its members have used a variety of tactics to achieve their political ends including political campaigning, subversion, and violent attacks targeting civilians. Due in part to their targeting of American civilians living in Iran during the 1970s and their support of Saddam Hussein, the United States State Department has listed MEK as a Foreign Terrorist Organization. In October 2012, the U.S. State Department will decide whether to remove MEK from the FTO list based on MEK’s denouncing terrorist tactics and devotion to diplomatic means to gain power versus violent attacks (Masters 2012). Origins, Ideology and Goals MEK was born out of a student-group resistance to Shah Pahlavi in 1965. The founding members of MEK in Tehran regarded the Shah as a U.S. puppet, and they felt that his westernization of Iran went against Iran’s traditional Islamic values. They believed in a violent overthrow of the Shah to return Iran to Islamic rule. In 1979, the group aligned itself with Ayatollah Khomeini in hopes that it could run for office after Shah Pahlavi’s exile, but Ayatollah Khomeini succeeded in overthrowing the Shah and he crushed any opposition to his new government. Since 1979, MEK has been trying to gain the opportunity to run for office in Iran’s government by shifting alliances and violently attacking the forces, which have prevented its political ambitions (Goulka 2009). In 2003, the group publically denounced violence in an attempt to foster global political support, but its place on the Foreign Terrorist Organization (FTO) list is blocking it from achieving its desired glob al support. According to MEK, it has â€Å"strived for freedom and human rights, first against the despotic reign of Shah, and now the theocratic tyranny of the ayatollahs† (MEK n.d.). It is â€Å"an anti-fundamentalist Muslim  organization which believes in a democratic, progressive, and tolerant interpretation of Islam, according to which elections and public suffrage are the sole indicators of political legitimacy. The PMOI endeavors for a secular, democratic, and non-nuclear republic, and is committed to free elections, gender equality, and abolition of all discrimination against national and religious minorities† (MEK n.d.) â€Å"Non-nuclear† is a key consideration for the United States and other western powers. Iran has increasingly taunted the world with its nuclear program and refuses to deescalate military tensions. In bold statements of aggression, in 2012 alone, Iran has announced two new missiles, an air defense site, and a fleet of ultra-fast gun boats designe d to zip into battle against larger western fleets. In a twist of fate, MEK’s future may lie in the hands of the United States. The United States has until October 1, 2012 to decide if it will delist MEK from the FTO. If MEK is delisted it will enjoy much more freedom of movement around the world and it will be able to legally receive funds from U.S. based sympathizers. It is not unreasonable to think that the U.S. will delist MEK in an effort to undermine the Iranian Government, much like Saddam Hussein offered MEK a home in 1986 to undermine Iran during the Iran Iraq war. Leadership, Funding and Capabilities Most of MEK’s original leadership was arrested and executed in 1971, but Massoud Rajavi escaped death and remains a leader of MEK. Though he has not been seen publicly since 2003, his wife, Maryam Rajavi, â€Å"is the public face of the MEK in her role as president-elect of the National Council of Resistance of Iran† (Jones 2012). In the past four decades the group has used several methods to raise funds for its campaign. Some methods have made the group infamous and add to the list of reasons that the U.S. and several other nations have classified it as a Foreign Terrorist Organization. MEK has long been skilled in deception and has used that skill to affect its fund raising efforts. For example, its solicitation of funds for Iranian refugees, child welfare, and children’s medical services proven to be fraudulent (FBI n.d.). Until 2003, MEK had a substantial armory due to its previous relationship  with Saddam Hussein. Its inventory often included artillery, tanks, aircraft, rocket launchers, rifles, mortars, shells, rockets, land mines, and bullets (FBI n.d.). In 2003, the United States bombed MEK camps and bunkers based on their relationship to Saddam Hussein and the idea that they posed a significant threat with their armaments. MEK members no longer have easy access to such large stockpiles of arms. MEK is now facing deportation from its Iraqi camp Ashraf and remains disarmed. Operating Bases, Support Bases, Strengths MEK has moved its headquarters over the years as a necessary part of survival. Originally founded in Tehran, it moved to Paris after the 1979 Iranian Revolution. The group had allied with the Ayatollah Khomeini, but Khomeini forced the group out in fear of opposition. In 1986 Saddam Hussein invited the group to relocate to camp Ashraf. Iraq was at war with Iran, and relocating the group from Paris to Iraq was Hussein’s method of undermining Iran. At the start of the U.S. led war in Iraq under Operation Iraqi Freedom, the group was classified as enemy combatants and subsequently confined to Camp Ashraf, where approximately 3,000 MEK now live (Carter 2011). The new government of Iraq has declared that all members of MEK must leave the country, and the U.N. is currently working to resettle the group elsewhere. For the moment MEK enjoys limited support from sympathizers around the world, but it is stateless which is both a strength and a weakness. The U.N., citing international law, will not allow the Iraqi government to force members to leave Iraq or force repatriation until members have a suitable place to live. This predicament brings MEK some publicity and sympathy for their cause, but Iraq’s determination to expel MEK could not have occurred at a worse time. With June 2013 elections nearing, increasing tension with western military powers, and an imminent Israeli preemptive strike against Iranian nuclear targets, MEK leadership must act swiftly to ensure its place in the 2013 elections. PART II – RED TEAM ANALYSIS Why Use Red Team Analysis? Given the complex dynamics of the Iranian situation, analysts should use  the Red Team Analysis technique in order to best predict what course(s) of action MEK leadership will take to assume control of the government. By empathizing with the MEK leadership analysts can gain better insight to most likely courses of action. The end state of this analytic technique is to provide Congress and the President with an accurate forecast of MEK’s courses of action so that the United States may apply the appropriate short and long term foreign policy in the Middle East. Since MEK desires a peaceful, tolerant Iran that can only be legitimized via free elections and public suffrage, it cannot take control of the nation by force. Therefore, MEK’s options are limited and it must patiently await the 2013 elections regardless of the growing concern of military action and economic sanctions. As President Ahmadinejad continues to escalate military tension with western nations and Israel, through missile, nuclear, and naval programs (Torbati 2012). MEK leadership must carefully calculate how to win popular Iranian support, world support, and financial backing – all without ever appearing to be influenced by western powers as previous Iranian leaders had. Restate Current MEK Goals Red Team Analysis must begin with placing oneself in the shoes of MEK leadership. The key to determining any viable course of action is to outline clear goals or milestones. With clear goals, analysts can categorize what actions and strategies are available and likely. According to MEK’s official website, its current goals, rather, solution to the western-Iranian strife is to â€Å"rid the region and the world of the nightmare of the Islamic fundamentalists armed with nuclear weapons [by] democratic change in Iran by the people and the Resistance† (Rajavi 2010). This stated goal remains largely unchanged from its 1970s goal. The main difference now is that MEK is more tolerant of western aid, albeit, so long as they do not become overly influenced by it. Key Assumptions Check Paramount to the analytic process is a key assumptions check. This step allows analysts to clearly document the start point of their cognitive map as well as allowing time to consider information that challenges cognitive  biases. The key assumptions must be listed in such a way that analysts feel like MEK leaders would if trying to decide how to realize their stated goal of taking control of the Iranian government. Below is a list of key assumptions in this Red Team Analysis. Previous Failures. All previous attempts to control government have failed beginning with the overthrow of the Shah in 1979. This assumption is critical because the MEK believed the Ayatollah Khomeini was their ally. They were betrayed. They banded together only to be exiled within two years and many members were arrested and executed while Khomeini consolidated power. The experience likely taught MEK to distrust any potential allies within the current regime. History of Violence. During the 1960s the Shah used force and violence against government opposition. Uprisings in the 1970s culminated in the exile of the Shah, but into the 1980s MEK fought the new Iranian government. During the Iraq-Iran war that began in the early 1980s, MEK settled just north of Baghdad and fought a cross border war with the clerical regime for twenty more years. Only at the turn of the century did MEK publicly denounce violence and terrorist tactics. The significance is that, while MEK members are accepting of risk and violence, they have matured and realize that they do not operate in a vacuum. MEK understands the need for global acceptance. HUMINT Value. MEK can offer HUMINT to the U.S. No other organization with detailed knowledge of Iran and its military and political system is willing to provide such information to western powers. The U.S. has had extremely limited success installing or recruiting agents in Iran because of extreme scrutiny that outsiders face, and CIA informants are usually discovered due to poor tradecraft (Hosenball 2011). MEK however, has family, friends, sympathizers and safe houses inside Iran. As well, since the U.S. invasion of Iraq in 2003 MEK has received training, equipment and funds to carry out attacks inside Iran and to collaborate with U.S. and Israeli intelligence services (Joshi 2012). MEK’s HUMINT value is possibly the most important aspect for western powers. MEK leadership understands the power they hold and must leverage it wisely. Knowledge of U.S. Tactics Techniques and Procedures. MEK leaders are aware of U.S. TTPs at the small unit tactics level up through executive branch policymaking. They will play on the American and Israeli fears of a nuclear armed Iran while leveraging their HUMINT and political value to affect their delisting from the FTO. Once  delisted they will be able to receive more funding from international sources, thus requiring less U.S. support and will become less responsive to U.S. demands. Western Support: Critical For Financing, Opposite of Ideology Being listed on the U.S. Foreign Terrorist Organization list impedes MEK’s financing efforts. In order to gain power they must be delisted – decade long endeavor thus far. Its members have cooperated with Israeli and U.S. intelligence services since 2003 in an effort to gain support and take over the political regime in Iran, but its original ideology was very much opposed to any western influence. MEK must exercise extreme caution to ensure that the group does not appear to be another puppet regime of the U.S and especially not in collaboration with Israel. If threatened with defeat, the current regime will likely try to depict MEK as a puppet regime, and if the U.S. loses influence it may also try to publicize MEK’s cooperation in an effort to decrease its credibility among Iranians. Enormity of the Situation. MEK is currently stateless. Though the U.N. has petitioned several governments to accept MEK members, most have declined to accept them. With nowhere to go MEK is desperate to gain power in Iran because it belongs to no other state. If they fail the Iranian regime will likely execute them, despite President Ahmadinejad’s amnesty offer. Data Collection Options Of the many collection options the United States has at its disposal, a handful stand out as being the most practical. HUMINT may be the best collection option because it offers an inside look at MEK and the status of the Iranian nuclear and defense programs as well as the mentality and plans of regime leaders. For example, an undercover agent, code named Wally, joined the Revolutionary Guard in the 1980s and gave the CIA plans, ideology, weaponry etc, and he was able to recruit several more members of the Revolutionary Guard to turn informer for the CIA (Zucchino 2012). OSINT is another extremely useful collection option, which can provide detailed atmospherics and help depict the support, or lack thereof, of the general public to the current and possible successor regimes. OSINT can also offer information on Iran’s defensive and offensive capabilities as depicted  in the recent revelation that Iran has cloned a fleet of ultra-fast gun boats. Originally produced in England, the Bradstone Challenger (Bladerunner) is a speedboat with a revolutionary hull design that affords it great stability at high speeds. Iran illicitly purchased a Bladerunner in 2009, reverse engineered the design, and manufactured its own fleet which the Navy modified to launch torpedoes and missiles at full speed. The Bladerunner fleet, combined with â€Å"an array of heavily armed small craft, including unmanned high-speed Ya Mahdi vessels, Bavar 2 flying boats, Seraj-1 high-speed patrol boats and Zolfaghar fast attack craft† (Stock 2012) poses a significant thr eat to the Strait of Hormuz and western naval forces with much larger and slower vessels. SIGINT and MASINT will likely have to wait until military confrontation begins in order to be relevant. MEK’s equipment inventory is very limited, so SIGINT and MASINT should not be a top priority. GEOINT is relevant in that it depicts the correlation of key terrain to strategic targets and political issues. For example, GEOINT can depict which routes MEK would likely take in order to transit to Tehran or flee Iraq in other ways. It also helps answer contingency operation questions such as, â€Å"what if MEK takes control of the military and attempts to hold the Strait of Hormuz ransom?† In a more tactical situation GEOINT can provide detailed dimensions of hideouts and buildings for the U.S. to plan an attack should the need arise. Use of the Intelligence Community The CIA is the best is the best agency to use to handle collection on MEK. The agency has more than half a century of experience in working with sources and is best trained in managing counterintelligence and misinformation techniques. Already, the CIA has worked with MEK members since 2002 when MEK publicized Iran’s underground Uranium enrichment program. Training MEK members in tradecraft techniques and supporting their cross-border subversion tactics allows the CIA to wage a proxy war with Iran while strengthening its relationship and gaining more human intelligence on both MEK and Iran. No other agency within the United States has the resources to foster this type of relationship with MEK. Most Effective Intelligence Analysis Strategies The effective intelligence strategy to use for evaluating MEK and forecasting its actions is to begin with Analysis of Competing Hypotheses and follow those results with the Devil’s Advocacy method. Analysis of Competing Hypotheses. ACH is ideal for evaluating MEK because there are diverse dynamics involved in forecasting MEK actions. Considering that the U.S. must decide to keep or delist MEK from the FTO on October 1, 2012, ACH would provide decision makers with a documented line of reasoning to support an Intelligence Forecast. Devil’s Advocacy. The prevailing consensus in Washington is that MEK has morphed from a militant group to a political group in the past decade and will be a more western friendly regime if it comes to power. But what if MEK is playing the west to gain power now, while secretly planning to spread its 1979 revolutionary ideology across the Middle East and North Africa in an attempt to reestablish Persian dominance? It seems that the west is focu sed first on countering a nuclear threat and second on countering any blocking of the Hormuz Strait. No additional talking points regarding Iran or MEK have received much publicity since 1979. Conclusion MEK is a wild card in the Iran standoff. The United States and other western powers, as well as Israel, must carefully consider how to proceed with MEK relationships. The organization has shown a history of changing allies in order to advance its goals, making it predictable in the sense that they can be counted on to do whatever it takes to survive and take control of the Iranian government. To brush MEK aside may mean dealing with a nuclear armed Iran later, and to support MEK may mean dealing with a provoked Iran now. No matter the decision, each carries its own implications for U.S. foreign policy. Washington must ultimately decide between the lesser of two evils. Bibliography Carter, Chelsea. â€Å"U.N., Iraq agree to temporary relocation of Iranian exiles.† CNN, December 26, 2011. http://articles.cnn.com/2011-12-26/middleeast/world_meast_iraq-camp-ashraf-re location_1_camp-ashraf-ashraf-residents-mek/2?_s=PM:MIDDLEEAST (accessed July 28, 2012). FBI. â€Å"Seven Plead Guilty to Providing Material Support to Designated Foreign Terrorist Organization.† FBI. http://www.fbi.gov/losangeles/press-releases/2009/la042809a.htm (accessed July 29, 2012). Goulka, Jeremiah, et al. â€Å"The Mujahedin-e Khalq in Iraq: A Policy Conundrum.† RAND Corporation: Santa Monica, 2009. Hosenball, Mark. â€Å"Hezbollah, Iran uncover CIA informants.† Reuters. http://www.reuters.com/article/2011/11/21/us-cia-hezbollah-idUSTRE7AK2MQ20111121 (accessed August 23, 2012). Jones, Owen Bennet. â€Å"An Iranian mystery: Just who are the MEK?†BBC News. http://www.bbc.co.uk/news/magazine-17615065 (accessed July 30, 2012). Joshi, Shashank. â€Å"Iran and the Mujahedin e Khalq (MEK).† Harvard University Department of Government. http://shashankjoshi.wordpress.com/2012/05/30/iran-and-the-mujahedin-e-khalq-mek/ (accessed August 24, 2012). Masters, Jonathan. † Mujahadeen-e-Khalq (MEK) (aka People’s Mujahedin of Iran or PMOI).† Council on Foreign Relations, July 18, 2012. http://www.cfr.org/iran/mujahadeen-e-khalq-mek-aka-peoples-mujahedin-iran-pmoi/p9158 (accessed July 24, 2012). MEK. â€Å"Camp Ashraf: About Us.† MEK. http://www.campashraf.org/about/camp-ashraf/ (accessed July 30, 2012). Rajavi, Maryam. â€Å"Comprehensive sanctions is the essential first step, regime change is the final solution.† People’s Mojahedin Organization of Iran. http://www.mojahedin.org/pagesen/detailsNews.aspx?newsid=9551 (accessed August 22, 2012).

National health care policy Essay Example | Topics and Well Written Essays - 4250 words

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A Tale of Two IS Projects. JetBlue and WestJet Essay

A Tale of Two IS Projects. JetBlue and WestJet - Essay Example Importance of Reservation System in WestJet and JetBlue For airline companies like JetBlue or WestJet, the importance of the reservation system is like a heart to organizations’ operations giving stimulus to each of the organization sections. An airline company which is settled on a larger scale reservation system is directly necessary to the business operation of that company (Laudon, 2013, pp. 556-557). Ability to book flights or dealing customers with time effectiveness comes directly from an effective reservation system and for that reason organizations like JetBlue and WestJet emphasize on keeping their reservation systems upgraded. Similarly, fares or inventory record management, data processing and management and information management is all what is conducted through an active reservation system (Laudon, 2013). For that reason, JetBlue and WestJet both organizations try to induce their systems with a proactive and comprehensive approach. If the systems are not proactive, there are more chances that a lot of informational op erations get weakened affecting the overall business of the company. This clears out the significance of a reservation system in a transnational airline organization (Laudon, 2013). Key Risk Factors on Upgrading Reservation Systems (JetBlue vs. WestJet) For a firm like WestJet which captures forty percent of the Canadian market share by taking 300 to 400 flights each single day, it is a complete challenge to upgrade its reservation system which requires significant amendments in the operational setup (Oz, 2009). The challenge is same for JetBlue which is a budget airline and have to deal with a large number of customers each day. From the business point of view, the challenge is of losing sales number, revenues and position in the stock market. Because upgrading requires a temporary shutdown, it intakes the risk of losing brand value or position (Laudon, 2013). From customers’ point of view, if amendments are not good enough like they cannot meet the customers’ choice and view, they result in a significant setback to firm’s business. Definitely, when customers are not satisfied it impacts the overall status of the company and also the prospect which comes through customers’ approval. These were particular risk factors which both WestJet and JetBlue involved at their upgrades. The factors required wise planning and the input of leadership to get controlled and managed. They required effective administrative planning to result in favor of firms’ operations (Oz, 2009). Implementation of the New Reservation System There were distinctive problems which both organizations (JetBlue and WestJet) faced at the time of their reservation system upgrade. They faced problems at the managerial level, planning problems and operational problems at the time of change (Wit & Meyer, 2010, p. 439). The initial challenge was to transform the smaller reservation setup to a larger IS system- a system which has more vibrant processing and can easily deal with greater volume of customers. This required the expansion of the primary database, the expansion of the inventory, and the expansion of the processing units in order to become a uniform information system. However, the situation on upgrade was mo re enduring for WestJet than JetBlue. According to Robert Palmer (a

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What exactly do groupworkers do and what do their groups seek to achieve - Essay Example (Steinberg, pp. 43-45, 2004) In this regard, a large number of professionals have encouraged the practice of working in groups, which has proved to be very effective and efficient in terms of achieving the goals and objectives. In this paper, different aspects of group working will be defined, discussed, and analyzed for the better understanding of the theory of group working, which has resulted in a number of accomplishments of organizations, as well as, individuals in different parts of the globe. In terms of definition, when the people work together in a cooperative environment, it has been referred as group work. Some of the examples of such cooperative environment can be observed in sport, such as squash, football, cricket, where people have to work together to accomplish a single objective, as well as, work for their individual improvements. In some of the perspectives, group work has been distinguished from the teamwork; however, various experts have not agreed with such theory and considered them as a single theory and practice. Accomplishment of a common objective is required in most of the projects, which require the people to work together. (Ephross, pp. 19-20, 2005) Therefore, most organizations, companies, institutions, etc. consider group work or teamwork as an important and unavoidable factor of the success. A team environment usually requires collaborative skills of different group workers that can be employed in an effective manner. In this regard, communication plays a vital and crucial role in the employment of such skills. Consequently, training workshops are organized and arranged by most of the organizations and institutions to improve and enhance the mutual skills and strategies of the employees to acquire an effective and noteworthy place in the fast growing world. In the present rapid modification of the surroundings, group working plays a crucial role for achieving success by

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Cross Cultural Management as a Form of a Business Environment - Term Paper Example In the current years, there has been a vast increase in globalization and this has created responsiveness of the necessity for managers to be responsive to the cultural aspects of decision- making. Even though these cross-cultural differences are a way of helping embrace the diverse notions from different places they also act as a downfall for many mergers in business (Lane 67). The mergers and acquisitions activity as an aspect of business strategy in finance and management that deals with the integration of different businesses and comparable entities that can be of help to a corporation to develop its sector or location, without the creation of any subsidiary (Tjosvold 56). The corporate that is more sensitive to cultural differences in any of the cross-cultural environments are in a better form and well equipped to make better decisions. The managers who are well familiarized with cross-cultural management techniques enable smoother workplace relationships. In current years, there has been a rapid increase in globalization and diversity in the workplace and due to this cross-cultural management has become an extremely vital part of the organizational life. The many human races come with different backgrounds. This clearly states the way of doing things in one culture may not be the same way that things are done in the other cultures; also whatever is regarded as good in another culture may be disadvantageous in another (Lane 77). With all the many cultures that exist in the world, the question that arises is how many adaptations are needed for effective international business relationships. With the different use of time by the two mergers, there can be an introduction to cyclic time which shall encourage a certain degree of synchronization of schedules and targets. Employees can begin understanding other people’s cultures and also trying to learn foreign tongues and cultivating empathy with the views of others (Lewis 113) The human resource in the cross-cultural companies should be well  experienced with multinational relations so that they can be capable of choosing the right people for each of the departments.  

Money Growth and Inflation Essay Example | Topics and Well Written Essays - 1000 words

Money Growth and Inflation - Essay Example Several economists have repeatedly observed that continuous increase in prices of goods is directly attributed to the nominal quantity of money. This essay will major on the subject of money growth and inflation. For instance, it will analyze economic news reports like the News Release by the Bank of England (The Financial Express, 20) which sought to establish the role played by monetary policy regarding Inflation and Growth. Discussion Monetary inflation is an economic terminology that refers to sustained rise in the supply of money in an economy of any given country. It normally leads to price inflation, that is, general increase in price levels of products. Economists generally agree that there exists a causal relationship between the demand and supply of money, as well as prices of services and goods often quantified in monetary terms. However, there is no overall consensus pertaining the exact relationship and mechanism between monetary inflation and price inflation. There is a sophisticated system and various arguments put forward towards the issues that are involved, for instance how accurately determine monetary base, and or how other factors like money velocity impact the relationship and the most appropriate monetary policy. Review of previous literature shows that price levels and nominal money quantity variations are closely interwoven. Although the debate has been going on for long with substantial evidence being given, there still remains some dispute between the predicted link between inflation and money. One of the possible explanations given towards this is that the said relationship holds only over periods of time which are so long thus making the relationship uninformative for policymakers and practitioners, who concern themselves with inflation in the future, say like the next five months or a year ( «Business Report: U.S. hyperinflation? The markets know better.†23). However, the said relationship can not be overlooked because it h as been backed with substantial evidence. Economists have to make monetary policies bearing in mind this consideration. Monetary policies have to play significant roles in enhancing economic growth and development in any economy. Spenser Dale, when addressing the Chinese Business Association and Asian Business Association of London Chamber of Commerce and industry, gave out his opinions regarding the monetary policy objectives. Particularly, Dale considered the monetary policy’s flexibility to support employment and growth and also control inflation. He also considered the possibilities of presently having scope for additional growth without creating extra price inflation. Spencer welcomed the present interest in such crucial issues, and noted that the financial crisis was partly associated with failure of the monetary policies. In many nations like the UK, monetary policies failed to activate the growth people longed to have. Some players have often asked if the UK’s regime that targets inflation does force the MPC to emphasize too much on inflation, instead of supporting growth recovery. In tackling this, Spenser noted that from its generation the core mission of MPC was to hit a target of 2% inflation, but in manner that it will support employment and growth. The MPS, he explained, has always done achieved that and brought recovery after the economic financial crisis aftermath. According to his report, Consumer

Leadership Essay Example | Topics and Well Written Essays - 250 words - 11

Leadership - Essay Example To enhance teams performance one proven approach that helps with this is the GROW model. GROW is an acronym standing for Goal - Current Reality - Options - Will. A useful metaphor for the GROW model is the plan we might make for an important journey. First, it starts with a map: With this, one can help the team member decide where they are going (their Goal) and establish where they currently are (their Current Reality). Then explore the various ways (the Options) of making the journey. In the final step, establishing the Will, leader ensures the team members are committed to making the journey and prepared for the conditions and obstacles they may meet on their way. . Therefore the key is that the team should be viewed as an important resource whose maintenance must be managed just like any other resource and that this management should be undertaken by the team itself so that it forms a normal part of the teams activities. As a collection of people, a group needs to relearn some basic manners and people-management skills. In a study by Peter and William (2004) they concluded that strong organizational support, team leadership, and high levels of interpersonal team skills help quality improvement teams go further. Thus a trained leader and team training can help any service team to act professionally and yield desired results. Peter, M., William, W. (2004). Characteristics of successful quality improvement teams: Lessons from five collaborative projects in the VHA, 30(7), 152-162. Retrieved December 15, 2008 from

A Peoples History Essay Example for Free

A Peoples History Essay ZINN QUESTIONS – A People’s History of the United States by Howard Zinn Chapter 1 – Columbus, the Indians and Human Progress http://www.historyisaweapon.com/zinnapeopleshistory.html 1. According to Zinn, what is his main purpose for writing A People’s History of the United States? 2. What is Zinn’s thesis for pages 1-11? 3. According to Zinn, how is Columbus portrayed in traditional history books? 4. Why does Zinn dispute Henry Kissinger’s statement: History is the memory of states? 5. What is Zinn’s basic criticism of historian Samuel Eliot Morison’s book, Christopher Columbus, Mariner? 6. What major issues does Bartolome de las Casas bring up regarding Spanish expeditions in the Caribbean? 7. Identify one early and one subsequent motive that drove Columbus to oppress indigenous peoples. 8. What was the ultimate fate of the Arawak Indians? 9. What was the significance of Quetzalcoatl? 10. Compare the strategies and motives underlying the conquest of the Aztecs by Cortez and the conquest of the Incas by Pizzaro. 11. What were the major causes of war between the Powhatans and the English settlers? 12. Discuss the significance of Powhatan’s statement, Why will you take by force what you may have quietly by love? 13. Explain Governor John Winthrop’s legal and biblical justification for seizing Indian land. 14. Explain the main tactic of warfare used by the English against the Indians. 15. According to Roger Williams, how did the English usually justify their attacks on the Indians? 16. What ultimately happened to the estimated 10 million Indians living in North America at the time of Columbus’ arrival? 17. Evaluate the statement: If there are sacrifices to be made for human progress, is it not essential to hold to the principle that those to be sacrificed must make the decision themselves? 18. How does Zinn attempt to prove that the Indians were not inferior? Provide examples.

Working Capital Versus Capital Expenditure Management Finance Essay

Working Capital Versus Capital Expenditure Management Finance Essay The purpose of this research is to investigate the impact of firms capital expenditure on their working capital management. Net Liquidity Balance and Working Capital Requirement for determination of working capital requirement and developed multiple regression models. The empirical research found that organisations capital expenditure has a significant impact on working capital management. The study also found that the firms operating cash flow, which was recognized as a control variable, has a significant relationship with working capital management. Capital forecasting in a downturn environment where change is rapid. Incorporating dynamic forecasting to measure the impact of key uncertainties and risks on the portfolio of projects is crucial. The findings increase the knowledge base of working capital management and will help companies manage working capital efficiently in growing conditions associated with capital expenditure. 1.1 Working capital for accountants, investors and managers is the short-term health of a company. Working capital equals current assets minus current liabilities. Current accounts are accounts that the company collects or are due in the next year. Making a capital expenditure will have several effects on the companys working capital, depending on the transaction. However, in certain cases, there may be no impact; it is important to understand why. Corporate finance basically deals with three decisions: A) capital structure decisions, B) capital budgeting decisions, and C) working capital management decisions. Working capital management is a very important component of corporate finance since it affects the profitability and liquidity of a company. It deals with current assets and current liabilities. The decision-making process on the level of different working capital components has become frequent, repetitive, and time-consuming. Working capital management is recognized as an important concern of the financial manager due to many reasons. For one thing, a typical manufacturing firms current assets account for over half of its total assets. For a distribution company, they account for even more. The maintenance of excessive levels of current assets can easily result in a substandard return on a firms investment. However, firms with inadequate levels of current assets may incur shortages and have difficulties in smoothly maintaining day-to-day operations. Efficient working capital management involves planning and controlling current assets and current liabilities in a manner that eliminates the risk of inability to meet due short term obligations on one hand and avoids excessive investment in these assets on the other hand. Capital forecasting in a downturn environment where change is rapid. Incorporating dynamic forecasting to measure the impact of key uncertainties and risks on the portfolio of projects is crucial. Analyzing and quantifying the impact of risks and delays at project and portfolio level. Governance and control over capital expenditures, Portfolio prioritization. Determining the optimal decision making level for capital allocation decision (corporate level vs business unit level vs hybrid model). 1.2 Working Capital Estimates The analysis includes estimates of all investments required for a project. The project may require increases (or decreases) in cash, accounts receivable, accounts payable, or inventory. 2.1 Capital expenditure Whenever we make an expenditure that generates a cash flow benefit for more than one year, this is a capital expenditure. Examples include the purchase of new equipment, expansion of production facilities, buying another company, acquiring new technologies, launching a research development program, etc., etc., etc. Capital expenditures often involve large cash outlays with major implications on the future values of the company. Additionally, once we commit to making a capital expenditure it is sometimes difficult to back-out. It has been found that managers spend a considerable time on day-today working of capital decisions since current assets are short-lived investments that are continually being converted into other asset types (Rao, 1989). In the case of current liabilities, the firm is responsible for paying obligations mentioned under current liabilities on a timely basis. Liquidity for the on-going firm is reliant, rather, on the operating cash flows generated by the firms assets. Corporations are looking for new ways to stimulate growth, improve financial performance, and reduce risk in todays challenging economic climate. Funds tied up in working capital can be seen as hidden reserves that can be used to fund growth strategies, such as capital expansion. Cash flows locked in stock and receivables can be freed up by understanding the determinants of working capital. Many organizations that have earned profits over the years have shown the efficient management of working capital (WCM). Broadly, industry characteristics, firm-specific characteristics, and the financial environment are recognized as determining factors of both capital expenditure and working capital. In addition to the growth, leverage, and the size of a company, type, and size of expenditures, such as finance and operating and capital expenditures, have different impacts on capital expenditure and working capital. 2.2 Portfolio Approach in Capital Budgeting Portfolio approach to achieve capital efficiency and organisational alignment can yield immediate positive cash-flow results for companies. Typically companies view capital expenditures through a cost and benefits filter that focuses largely on ROI and IRR type measures. Whilst these measures are relevant, companies that do so often do not necessarily link these to the strategy of the company. They also do not prioritise capital expenditures in terms of their effect on strategy and shareholder value. We believe that by using a portfolio approach companies could: à ¢Ã¢â€š ¬Ã‚ ¢ Increase returns on invested capital by understanding which projects contribute most to shareholder value and lie on the project efficiency frontier à ¢Ã¢â€š ¬Ã‚ ¢ Have a holistic portfolio view of the return of the capital of the entire company à ¢Ã¢â€š ¬Ã‚ ¢ Improve the strategic and organizational alignment of projects à ¢Ã¢â€š ¬Ã‚ ¢ Make informed decisions on where to invest scarce cash resources. 2.3 Capital Budgeting Decisions: Stage 1: Decision Analysis Decision-making is increasingly more complex today because of uncertainty. Additionally, most capital projects will involve numerous variables and possible outcomes. For example, estimating cash flows associated with a project involves working capital requirements, project risk, tax considerations, expected rates of inflation, and disposal values. We have to understand existing markets to forecast project revenues, assess competitive impacts of the project, and determine the life cycle of the project. If our capital project involves production, we have to understand operating costs, additional overheads, capacity utilization, and start-up costs. Consequently, we can not manage capital projects by simply looking at the numbers; i.e. discounted cash flows. We must look at the entire decision and assess all relevant variables and outcomes within an analytical hierarchy. This analytical hierarchy is known as the Multiple Attribute Decision Model (MADM). Multiple attributes are involved in capital projects and each determinant in the decision needs to be weighed differently and their relationship with each other determined. Several techniques are available to arrive at a financial decision regarding a capital expenditure project. These include: the net present value method. This method discounts all cash flows to the present using a predetermined minimum acceptable rate of return as the discount rate. If the net present value is positive, the financial return on the project is greater than this minimum acceptable rate and indicates the project is economically acceptable. If the net present value is negative, the project is not acceptable on economic grounds. the internal rate of return method. The internal rate of return is defined as the discount rate that makes the net present value of a project equal to zero. It is the highest rate of interest that a company could incur to obtain funds without losing money on the project. the equivalent annual cost method. When considering alternative proposals, it may be that only costs are involved. In such situations, a choice of alternatives can be made by determining which has the lowest equivalent annual cost. Under this method, capital expenditures are converted to their equivalent annual cost and added to the annual operating costs. Equivalent annual cost is the annual amount that would repay the capital over the life of the project at a specified discount rate. It is similar to an annual, level repayment schedule for a mortgage. The alternative with the lowest total cost would be the most attractive (ignoring intangibles). the payback method. This method estimates the time taken to recover the original investment outlay. The estimated net cash flows from a proposal for each year are added until they total the original investment. The time required to recoup the investment is called the payback period. Projects with a shorter payback period are preferred to those with longer periods. the discounted payback method. The discounted payback period is the number of years for which cash inflows are required to (a) recover the amount of the investment and also (b) earn the required rate of return on the investment during that period. In this method, each years cash inflow is discounted at the required rate of return, and these present values are cumulated by year until, their sum equals, the amount invested. Projects with a shorter discounted payback period are preferable to those with longer periods. the accounting rate of return method. The accounting rate of return is a measure of the average annual income after tax over the life of a project divided by the initial investment or the average investment required to generate the income. It is important to note that this method assesses net income and not cash flows which are used in the other methods. Stage 2: Option pricing In financial management, consideration of options within capital budgeting is called contingent claims analysis or option pricing. For example, suppose you have a choice between two boiler units for your factory. Boiler A uses oil and Boiler B can use either oil or natural gas. Based on traditional approaches to capital budgeting, the least costs boiler was selected for purchase, namely Boiler A. However, if we consider option pricing Boiler B may be the best choice because we have a choice or option on what fuel we can use. Suppose we expect rising oil prices in the next five years. This will result in higher operating costs for Boiler A, but Boiler B can switch to a second fuel to better control operating costs. Consequently, we want to assess the options of capital projects. Stage3: Discounted Cash Flow (DCF) Discounting refers to taking a future amount and finding its value today. Future values differ from present values because of the time value of money. Financial management recognizes the time value of money because: Inflation reduces values over time; i.e. Rs.1, 000 today will have less value five years from now due to rising prices (inflation). Uncertainty in the future; i.e. we think we will receive Rs. 1,000 five years from now, but a lot can happen over the next five years. Opportunity Costs of money; Rs. 1,000 today is worth more to us than five years from now because we can invest Rs 1,000 today and earn a return. 3.1 Quantitative Analysis and Estimates : The foundations for good capital planning are reliable forecasts of the following parameters like competitive technology, marketing opportunities, likely actions by competitors and governments, sales volumes, selling prices, operating costs, changes in working capital, taxes payable and capital costs of equipment. Effective management of capital expenditure decisions, therefore, requires that controls be designed and operated to ensure that projections are realistic at the time decisions are made. Reliable estimates and forecasts are vital to the capital investment decision. The degree of precision necessary for the estimates related to the capital expenditure decision depends on: the stage of evaluation of the project (i.e., in early stages less precision is needed), the sensitivity of the projects economics to the level of accuracy and timing of each of the elements within the estimates, and the similarity of the project to others already undertaken. 3.2 Planning Horizon of a project: It is often difficult to estimate the life of a project (i.e., its planning horizon). The criterion is the continued ability to generate satisfactory cash flows or other intangible benefits. The economic life of a project is the lesser of its physical life, technological life or product-market life. Physical Life of Project Technical life of the Project Market life of the product to be manufactured depends upon: Detailed Market Research/Study Competitive Factors Price Estimation and Determination Organisation Market Position Maintenance Property related costs Depreciation Plant Administration, Service Department Costs 4.1 Research Objectives Overall objective. The overall objective of this research study is to investigate capital expenditure on a project and consequently working capital requirement and there relationship. Working capital measured in terms of net liquidity balance and working capital requirement (WCR). Specific objectives. are to à ¢Ã¢â€š ¬Ã‚ ¢ Investigate whether there is a relationship and type of relationship between capital expenditure and the firms working capital (W.C.). à ¢Ã¢â€š ¬Ã‚ ¢ Describe the relationship between the nature of expenditure and the working capital. To investigate the impact of different factors affecting the working capital on net liquidity balance and working capital requirement. à ¢Ã¢â€š ¬Ã‚ ¢ Investigate the existing literature on working capital management to highlight the recent trends. à ¢Ã¢â€š ¬Ã‚ ¢ Understand the applicability of NLB and WCR as a measure of working capital management. à ¢Ã¢â€š ¬Ã‚ ¢ Investigate the relationship between corporate performance and working capital management. 4.2 Literature Review The chief financial officers of most companies spend most of their time and effort on day-today working capital management. Still, due to the inability of financial managers to properly plan and control the current assets and current liabilities of their companies, the failure of a large number of businesses can be attributed to the inefficient working capital management. Working capital is the most crucial input and the success or failure of an organization can be rightly attributed to the quality and efficiency in the management of working capital (WC) or net current assets (NCA). Account receivable management models and inventory management models were used in approximately 65 % of companies. The management of the working capital, stresses the need for the development of a viable system with the dual finance goals of profitability and liquidity, only such models will assist practicing financial managers in their day-to-day decision-making. Over the years, many researchers have focused on determining the optimal level of each component of working capital. It was found that the working capital literature is rather limited and that the management of short term resources is not understood too well. Thus, the consensus in academia seems to recognize the paucity of theory concerning the management of financial resources due to the inherent difficulties in the development of a working capital decision model, while accepting the normative needs for a more critical examination. The tendency of firms with low levels of current ratios to have low levels of current liabilities. 5.1 Methodology The purpose of this paper is to contribute to a very important aspect of financial management known as working capital management. The study will show the relationship of capital expenditure on firms working capital management and its impact. This chapter of the research deals with the analytical framework of data analysis, which describes the firms and variables included in the study, the distribution patterns of data, and applied statistical techniques in investigating the relationship between working capital management and capital expenditure. 6.1 Data Collection Since the study is based on financial data, the main source of data was financial statements, such as income statements, balance sheets, and cash flow statements of listed companies for the period from 2000 to 2005. The reason for restricting the time period to six years was that the latest data for the study was available for these years. In addition, annual reports of companies have been used in order to understand the company back ground and industry. 6.2 Sample Selection The study uses secondary data of listed companies in the stock exchange. Companies with missing data are excluded from the study. The study also excludes the financial and securities sector companies, as their financial characteristics and use of leverage are substantially different from other manufacturing companies. The working capital requirements and capital expenditure of a manufacturing organization is widely different from trading, financial and securities sector companies. 6.3 Variables In addition to identifying capital expenditure, the study undertakes the issue of identifying all factors that affect the working capital management. Most of the determinants identified in the investigation have been taken from the existing literature on working capital management. The study takes into account of all the variables discussed below. Variables, which include dependent, independent, and control variables, have been used to investigate the test hypothesis. 6.4 Independent Variables Capital expenditure (CAPEX) is identified as one of the independent variables and includes expenditures incurred by firms for acquisition and upgrading/renovating physical assets, such as land, buildings, machinery, vehicles, and equipments. Capital expenditures are added to assets account and depreciated against profits over their economic life as Deferred Revenue expenditure( DEFEREX). Capital expenditure is incurred by a company when buying new, fixed assets or in adding value to existing assets to increase their economic lives. Capital expenditure includes buying the value of assets, carriage inwards, insurance, legal costs, and all costs needed for acquiring assets ready for use. Managers pay careful attention to capital expenditure decisions, since they are very costly and irreversible. Operating expenditure (OPEX) is the cost of ongoing operations, product or system. Unlike CAPEX, firms meet OPEX continuously. Operating expenditures are written off against profit for the period. They are Revenue expenditure (REVEX) which includes salaries, wages and facilities expenses, such as rent, rates, electricity, etc. Finance expenditure (FIEX) is cost incurred on debt capital. Interest incurred on debentures, bank loan and other long term liabilities are recognized as finance expenditures. 6.5 Dependent Variables NLB = (cash and cash equivalents + short-term investment) (short-term debt + commercial paper payable + long-term debt a year term). These are considerations of the financial decisions of a company, regardless of the operation cycle. Thus, it is called as net liquid balance. WCR = (accounts receivable + inventories) (accounts payable + accrued expenses +other payable), which relate to the working cycle and are called working capital requirements. 6.6 Control Variables In addition, firms operating cash flow (OPCASH), extracted cash flow statement, growth (GRO) of the firm measured by sales, leverage measured by total long-term debt capital and divided by equity (D/E). All the above variables have relationships that affect working capital management. These relationships might vary over variables, companies and industries based on business strategy, economic environment, and financial environment. 7.1 Hypotheses Development Working capital management is traditionally rated by current ratio, quick ratio, and net working capital. According to Shulman and Cox (1985), these traditional ratios dont consider the going concern of the company and net working capital does not measure the correct value of liquidity. They classify net working capital into working capital requirement (WCR) and net liquidity balance (NLB) in order to predict the financial crisis of a company. WCR is measured in order to evaluate the management of working capital, and NLB is considered with the capability of raising and allocating capital respectively. NLB is better than traditional indicators in terms of predicting crisis and liquidity of a company. The basic purpose of this study on working capital management to evaluate the impact of capital expenditure on working capital. Thus, this study will categorize expenditure of a firm into three types: a) Operating expenditure, b) Capital (investment) expenditure, and c) Finance expenditure. However, except capital expenditure, operating and finance expenditures will be considered on accrual basis, not on the cash basis, because incurred expenditure will determine working capital management of the company. When a company has growth opportunities, it needs to acquire fixed assts (pay capital expenditure) relevant to future growth plans. Thus, incurred or expected capital expenditure is positively correlated with NLB. With growth opportunity, a company can increase the holding cash, since it manages working capital efficiently. Under such circumstances, terms to pay operation-related liabilities are lengthened and operation-related receivables can be accelerated in collection, causing less demand on working capital. Expected capital expenditure is negatively related to WCR, and firms with a higher growth rate pay more attention on the management of capital expenditure. Hypotheses A- Capital expenditure is positively related to NLB Hypotheses B- Capital expenditure is negatively related to WCR 8.1 Model Specification This study uses panel data regression analysis of cross-sectional in order to test the hypothesis. A use the pooled regression type of panel data analysis. The pooled regression, which is also called the constant coefficients model, is one in which both intercepts and slopes are constant, where the cross section from a data and time series data are pooled together in a single column, assuming that there are no significant cross section or temporal effects. The general forms of our models are:t NLB Decrease in WCR H1a= NLBit = ÃŽÂ ²0 + ÃŽÂ £ ÃŽÂ ² X + ÃŽÂ µ (1) H1b= WCRit = ÃŽÂ ²0 + ÃŽÂ £ ÃŽÂ ² X + ÃŽÂ µ (2) WCR: working capital requirement of firm I at time t; i = 1, 2,à ¢Ã¢â€š ¬Ã‚ ¦..no. of firms NLB it: net liquidity balance of firm i at time t; i = 1, 2,à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.no. of firms ÃŽÂ ²0: the intercept of equation ÃŽÂ ²i: coefficients of X it variables X it: the different independent variables for working capital management of firm i at time t t: time = 1, 2,à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦,6 years. ÃŽÂ µ: the error term Specifically, when I convert the above general least squares model into my specified NLBi = ÃŽÂ ² OPEXi + ÃŽÂ ² FIEXi + ÃŽÂ ² CAEXi + ÃŽÂ ² M/Bi+ ÃŽÂ ² Gti + ÃŽÂ ² D/Ei + ÃŽÂ ² OCASH + ÃŽÂ µ (3) WCRi = ÃŽÂ ² OPEXi + ÃŽÂ ² FIEXi+ ÃŽÂ ² CAEXi + ÃŽÂ ² M/Bi+ ÃŽÂ ² Gti + ÃŽÂ ² D/Ei + ÃŽÂ ² OCASH + ÃŽÂ µ (4) Where: NLB = (cash cash equivalents + short term investments) (short term debt + commercial paper payable + Long term debt year term) WCR = (accounts receivable + inventories) (accounts payable + other payable). WCR equals net working capital NLB. ÃŽÂ ² = coefficient of regression, OPEX = operating expenditure FIEX = financial expenditure CAEX= capital expenditure M/B = market to book value ratio D/E = total debt to total assets Gt = sales growth OCASH = operating cash flow in firm ÃŽÂ µ = the error term These findings are consistent with hypothesis H1b. Operating expenditure and interest expenditure also have a positive significant relationship with working capital requirement. 9.1 Conclusions and Recommendations Working capital management attracts less attention of the management than capital budget and expenditure, capital structure in financial management in the ordinary course of business. Working capital management relates to the findings of sources of short term finance and investments in short term assets. Working capital management deals with profitability and the risk of the company. Inefficient working capital management results in over investment in working capital and reduces the profitability of the firm. On the other hand, inefficient management of working capital leads to an insufficient amount of working capital and results in financial difficulty, putting the company at risk. The optimal level of working capital, which is a trade off between risk and profitability, can be affected by both internal organizational characteristics and various outside factors. Existing literature has paid little attention to many factors that determine the working capital. This research investigated some of the factors such as capital expenditure, operating expenditure, finance expenditure, leverage, performance and operating cash flow. This research paper uses NLB and WCR as proxies for working capital in order to assess working capital management with capital expenditure and other influencing factors. Empirical results show that capital expenditure has a significant effect on working capital management. This finding will help a companys management manage working capital efficiently. The findings can be used as a benchmark for managing working capital and evaluating performance. Through this paper it was able to find out that operating cash flow has a significant impact on a companys working capital management, consistent with conclusions in previous research/literature. By conducting the same study on each business sector separately, managers can understand specific behavior of a companys working capital in relationship with capital expenditure. Since the model is a general model, it might not be able to be applied or might not give the same findings in specific business sectors. Moreover, further research can be conducted on the same topic in different countries. Working capital management policies can be compared between developing and developed countries in order to determine the correct management policies. 14) Capital expenditure decisions are very crucial and not easily reversible. Substantial amount of money is blocked in capital expenditure decisions. Hence such decisions have to be taken very carefully with a lot of deliberations.

Income Tax in India :: Tax Taxes Taxation

Income Tax Estimator Income tax is a tax imposed on any individual or by a corporate by the government who earns income. In simple words, it is the tax paid on income. A survey says that paying Tax has been in existence for more than 2,500 years. People need to pay tax based on their profession. India is a pioneer in developing a stable tax system. The source for the income may be from salary, House/Property, Business and Profession, capital gains, and income from other sources. This tax is the contribution by an individual or group of individuals for the development of the Country. Income from Salary: All income received in the form of salary can be taxed. It is the money received by an individual from an employer. †¢ Medical reimbursements (up to INR 15,000 /yr) are tax free when it is supported by necessary bills. †¢ Conveyance allowance (up to INR 800/month) is tax free and no bills are required. Income from House / Property: Income from House or other property is estimated from the Annual value. The annual value includes the Rent received, Municipal Valuation and Market value. Capital Gains: Capital gains are form of income acquired from selling capital assets. The capital assets include real estate, equity, shares, bonds, Jewellery, art work and paintings etc. Sale of capital assets is a form of income. Income Exempt from tax: †¢ Any Money received from an Insurance company by maturity of an insurance policy is an income which has tax exempt. †¢ Income from Public Provident Fund (PPE). †¢ Some deduction also comes under tax exempt if the total limit of the deduction is not more than INR 100,000. The deductions can be from any one of the following: †¢ Contribution for Provident Fund †¢ Money paid for life insurance scheme. †¢ Investment in pension plans. †¢ Investments in mutual funds. †¢ Investment in National Savings Certificates. †¢ Re - payment of housing loans or any registration fee paid. †¢ Payments made for tuition fees for children paid to school or college or any other educational institution. Medical insurance: Medi-claim policies provide us a deduction from tax up to INR 15000 and for the senior citizens it is INR 20,000. This deduction is not applicable only for the amount paid for them but also for the amount paid for their spouse, parents or children. Interest paid on Housing Loans: Interest paid on a housing loan up to INR 150,000 per year is tax free. Tax brackets: Income tax brackets for individual is divided into three slabs Income tax is not applicable for individuals whose annual income does not exceeds INR 110,000 and for women it is INR 145,000 and INR 195,00 for senior citizens.

Essay --

How the Pentagram constellation came to be. Many believed, (and still do) that "monsters" were real, that the fictional creatures that "go bump at night" actually do go bump at night. So, a few people formed a society of men and women called "Hunters". From generation to generation, men rose to the responsibility of protecting the life of others, by hunting them. The two story of two of these remarkable group of people will forever live in the minds of men, we are forever indebted to them. After the era and death of Sam and Dean Winchester, a strange yet remarkable constellation appeared in the sky. Astronomers and many people believe that stars are formed by clouds of gas that begin condense due to gravity and evolve into stars. But others believe that when an angel dies, his soul ascends to heaven but his grace (angel mojo) is propelled into the sky forming a star, the more loyal and powerful the angel, the brighter the star. These people had tons of theories about said constellation but the most popular and understood presumption is as follows: Sam and Dean Winchester were hunte...

Arab-Israeli Conflict :: Papers

Arab-Israeli Conflict Palestinian citizen el-Hobeishi was a suicide bomber and gave his life when he planted a bomb in a railway station in the northern town of Nahariya. Hamas which said it was responsible for the bombing has found its first suicide bomber from Israel's Arab minority. All previous candidates have been Palestinians from the West bank and the Gaza strip, who do not have Israeli citizenship. He had no causes to give his life, as it is usually people in refugee camps who have no citizenship that would be chosen. The P.L.O. would have agreed about the suicide people but not openly as it is for their good. On September 2000, 800 Palestinians were killed due to Jewish extremism retaliation. Live ammo was used on Palestinians stone throwing, the Israeli army was brought in to shoot people stone throwing. Was this a proportionate response? Why did they shoot and not arrest? No police were involved. Each has a long standing claim to the homeland The Palestinians lived in tribes and were part of the Roman Empire, the Jews were driven out and the Arabs remained. Israel, In 70AD +130AD, Jews revolted Roman Empire because they were organising the area and charged taxes. The Jews spread to: Russia Europe Eastern Europe North Africa 2) a) Why did it seem possible that peace might have been achieved in the early 1990's? Well, it seemed possible that peace may have been achieved during the 1990 Gulf War when the P.L.O. lost its funding from Kuwait and Saudi Arabia who were generous to the P.L.O. but their financial support was cut off and 400,000 Palestinians working in the Gulf states were expelled from work. The loss of $10 billion between '91-'93 hit the P.L.O.'s ability to fund schools and hospitals for poor Palestinians. This was all due to the invasion of Kuwait by the Iraqi forces. Its oil rich southern neighbour. A united nations force (American with British, French participation and support from Egypt and Saudi Arabia)

National Health Care Spending Essay

National health care spending in the United States is out of control. I will identify national health care expenditure, and my opinion on the spending â€Å"is it too much or not enough†. This paper will explain the about public health and the needs to paid for various payers with total percentages. With that we will discuss the economic challenges and how the government will address the matter. Is our country going to be able to change our medical crisis? What needs to be done? And can it be done? The current dollar level or national health care expenditures: In 2011 US health care spending reached 2.7 trillion dollars. Health care spending is still growing. The GDP (gross domestic product) remains stable at 17.9 percent from 2009 through 2011. The America health care has become a major legislative and policy issues. These increase in the cost of health care is causing major stress on Federal, State, and in household budget across the nation. My opinion on the spending level on health care,† is it too much or not enough†. I feel the spending in the US on health care is too much, because the over abuse by doctors, hospitals, etc†¦ do. I feel that doctors and hospital will exhaust the insurance companies. I feel today we lost the quality of care and the services at medical offices, even in the hospitals. Our health care spending is high and keeps growing. Due to the economy and more and more people are out of work. Those people are all applying for government benefits such as; Medicaid, TANF and extension of unemployment benefits. These are just a few crises or country going through. Poverty is increasing and a large number of people have no medical insurance. Now there are some States cutting health benefits to children who are very needy. Congress and the White House still are arguing about no time and no money, and it doesn’t have to be this way. We have to protect our fellow Americans and come to a compromise with our spending. What to cut, what to increase. Our country has to make some adjustments to help offset the increases of our spending, not just in health care, but in our defense  and home land security. I feel that our sacrifices should be shared, and it cannot involve scaling back programs for lower or middle class income families and individual. Our country has many needs, but we also have many resources and we have to use them wisely. Remember the U.S. is still the richest country in the world. Now it is time to work together to get through our crisis. How are the public’s health needs paid for. Hospital spending has increase 4.3 percent in 2011 compared to 2010 which was 4.3 percent growth. In 2011 the growth was slower, which was influenced by a slowdown in price growth and a low growth in hospital services. (â€Å"CMS†,2011) Physician and clinical services; these services increased 4.3 percent in 2011 which was an increase from 2010 with a growth of 3.1 percent. Spending by private health insurance and Medicare they are the two largest payers of clinical services and physicians in 2011. (â€Å"CMS†, 2011). Physical Therapy, Optometry, Podiatry, and Chiropractic medicine increase 4.9 percent in 2011, it is slightly faster from 2010 at 4.6 percent. (â€Å"CMS,2011) Dental services increased in 2011 with a 3.0 percent slightly higher than in 2010 with a growth of 2.7 percent. Out-of-pocket spending increased 4.1 percent in 2011, but in 2010 the growth percentage was 0, 7 percent. (â€Å"CMS†, 2011) Health Residential, and Personal Care Services; the growth for health, residential and personal care services are lower in 2011, it is 4.o percent, but in 2010 it was 4.5 percent. This includes expenditure for medical services, which are delivered by providers in non-traditional settings such as; schools, community centers, workplaces, ambulance provider, and residential mental health and substance abuse facilities. (â€Å"CMS†, 2011). Home health care; home health care agencies were slow in 2011 with a growth of 4.5 percent. In 2010 had a growth of 5.8 percent, Medicaid and Medicare spending was 80 percent in home health care. (â€Å"CMS†,2011) Nursing Care Facilities and Continuing Care Retirement Communities; spending in this category increased in 2011 to 4.4 percent from the growth was due from Medicare spending for skilled nursing faci lities, which increase 16.5percent in 2011. (â€Å"CMS†,2011) What is the major future economic and major â€Å"challenge† for the health care system? Everyone has the own problems with The U.S. health care system. One of their concerns is how many people go without health care,  because of no choice in the matter.. Second will be costs, this is a big concern. Cost keeps going up, cost are shooting up faster than anything else in this economy. There are major challenges that our nation has to face. Is U.S. health care gives to little or too much care. The uninsured get little care, they skip doctors visit, and depend on the hospital ER for medical care. This process causes a burden on the ER, because people that need to use the ER for real emergencies don’t get to be seem right away or they have to wait for a bed. Over treatment is a challenge also, doctors and hospital get paid more for doing more even if the treatment is necessary or not. We all experience or heard discussion about doctors and hospital run all kinds of tests and no one will explain what’s going on, this is because the hospital wants to exhaust you r insurance. Medicare is at fault, they paid health care providers on a â€Å"fee-for-service†. Which accounts how fairly their patients are? Other medical providers are equally important; they take the time to understand their patients and their symptoms. Most health care professional want the best for their patients, and no one means to over treat. As a doctor we are susceptible to a economic incentives. Insuring healthy people and not sick people, health plans make more money. Members of a health plan that are young and healthy are going to make more money, than the chronically ill. They can rake in premiums and don’t have to pay a lot of costly medical care. Insures in this country has an incentive to insure healthy people and deny the sick. Just a few do aggressively. Keeping cost down insurers has a few tricks they use, such as; denying coverage for pre-existing condition, increasing up expensive premiums. Hamilton (2008) Do you know what medical treatments work the best? Studies that suggest† 15 percent of what doctors do is actually evidence based, but they rely on personal experiences, or their colleagues or what they picked up from misleading medical literature, and drug representatives that are at their clinics.† (Hamilton,2008) The Federal Government is the only one that can fill the informational vacuum, because it is necessary to establish a base of medical evidence are expensive. The FDA is already overwhelmed with ensuring new drugs, and safe and effective devices. The last challenge is people demand more care than they want to pay for. People who are insured insist on expensive but marginal test and treatments, because they don’t have to pay for it. They feel because they pay high premiums they have the  best and they should not be denied any type of treatment. â€Å"Direct-to-consumer† has exploded patient’s demands prescriptions for new expensive drugs, even if there is no difference between old and new. Everyone has a part in these challenges that we face as a nation, doctors and hospitals are just two. However the scale of problems has called for a national medical reform. The health care system and other industrialized nations, which the government will take responsibility for funding. I don’t know what will be the right solution, but I have more knowledge on our National Health Care spending in America. We need to find a way to improve the quality of health care, while driving down the prices of insurance, medical procedures, treatment and prescriptions. We also need to resolve the issues with the uninsured in this country. References Hamilton, D. (2008, April). Five Major Challenges for a $2 Trillion Industry. CBS News. Retrieved from http://www.cbsnews.com/8301-505123_162-3364005/fivemajorchallenges-for-a-2trillion-industry CMS.(2011). Retrieved from http://www.cms.gov/research-statistic-data-and-system â€Å"

King

In his â€Å"Letter from a Birmingham Jail†, Martin Luther King Jr. writes that there are just laws and unjust laws. He argues this first from a religious point of view and then from a logical one. First, King argues that laws that create segregation are immoral in that they do not impart God’s love to every man equally.Furthermore, they rely on separation, the ultimate punishment God inflicts on man, as a method of punishing other men, regardless of whether they have sinned. Since the letter is written to his fellow clergymen, the moral argument about unjust laws is appropriate in the context. However, it is his logical diatribe against unjust laws that most clearly and eloquently makes the argument against the state of the South in 1963.From a religious standpoint, King defines an unjust law as one that conflicts with God’s laws (King, 1963). From a logical, non-religious standpoint, he argues that an unjust law is one which the majority inflicts upon the minor ity and does not hold itself to.   The basic concept means that if the majority makes a law saying that they may kill anyone of color, but the people of color cannot kill them or one another, then the law is unfairly applied and therefore unjust.King argues that many of these laws look much less vexing on the surface as they appear to have been placed on all people by all people, but he reminds us that appearances can be deceiving. King points out that segregation laws adopted by the Alabama legislature had virtually no input from African-Americans citizens of Alabama because the state had so thoroughly abused the voting rights act that there were counties in Alabama where the majority of the population was African-American and not a single African-American was registered to vote there (King, 1963).King also points out that what is legal is not always what is right. For example, he cites the Hungarian Freedom fighters in World War II. By the rule of law, the treatment of Jews by N azi Germany was legal, but it was unjust (King, 1963). It was only right, he says, for those with good moral standing to aid and lend comfort to the Jews, despite the fact that it was illegal.In the same way, it was only right in Birmingham, 1963, for protestors to give aid to the African-Americans who were being unduly oppressed by their state and local governments. African-Americans had been granted the right to vote by an amendment to the U.S. Constitution, yet unjust laws like the grandfather’s clause and poll taxes and literacy tests were put in place to prevent the fair execution of the law of the land. In short, King’s argument was that the law was in conflict with itself and needed to be revised.King’s letter appropriately described the events leading to the situation and other steps which had been taken to try to change the unjust laws, but argues that eventually it becomes necessary to take direct action to force the opposition’s hand. The prote sts in Birmingham were made to force the city to recognize the unjust laws and to begin good faith negotiations to change them.King points out that there had been several attempts at negotiation previously and that promises made to the African-American community went unfulfilled. He argued that laws, especially when they are not uniformly applied, can also be unjust. For example, prior to Brown v. the Board of Education, school segregation was legal so long as schools were â€Å"separate but equal†. King points out that everyone was aware that they were separate and not equal, but only the separate portion of the law was being applied.Finally, King makes it clear that civil disobedience is a valid option when the law is unfair. He argues that one can only be told to wait for change so long before it becomes clear that wait really means never (King, 1963). King calls righteous people to action, arguing that when the will of the people is to eliminate unjust laws then it will b ecome reality. REFERENCESKing, Jr., Martin Luther. â€Å"Letter from a Birmingham Jail.† http://www.historicaltextarchive.com/sections.php?op=viewarticle&artid=401963. July 9, 2007.

Counter Reformation

Counter Reformation, begun by the Catholic Church with the opening of the Council of Trent, 1545, had two sides. One, the Counter Reformation proper, was a struggle against Protestantism. The other—sometimes called the Catholic Reformation—was a movement for spiritual and moral reform within the Catholic Church (Reardon, 1981). For nearly a century many Catholic leaders had pleaded for a reform of the church â€Å"in head and members. † Little could be done, however, because key church appointments remained in the hands of political leaders.Spain was one of the earliest and strongest supporters of the Counter Reformation. Francisco Ximenes de Cisneros (1436- 1517) as archbishop of Toledo enforced drastic reforms in the church. Shortly before 1517 Giovanni Pietro Caraffa, later Pope Paul IV, helped found in Rome the Oratory of Divine Love, a society of priests committed to prayer and self- reform. In 1524, they disbanded and some of its members founded the Theatin es, an order of priests dedicated to reforming the church. The order spread through Italy, exerting growing influence (Bainton, 1983).In Spain, Saint Teresa of Avila, a Carmelite nun and mystic, reformed her order and exerted much influence through her writings. Another Spanish mystic and monastic reformer was Saint John of the Cross. Adrian of Utrecht, a Dutch cardinal, was elected pope, Adrian VI in 1522, but died 20 months later. He had tried to make institutional reforms in the church hierarchy and to keep church affairs independent of continental politics, but his efforts were fruitless. Clement VII (pope 1523- 34) was an intelligent clergyman, but timid and indecisive (Reardon, 1981).Paul III (pope 1534- 49) was committed to reforming the church. He was not influenced in church matters by pressure from continental leaders. Paul appointed many reformers to positions of authority. During Paul’s papacy, Ignatius Loyola founded the Society of Jesus, an organization dedicate d to reforming and strengthening the church. Members, called Jesuits, worked as theologians to help clarify and reform church doctrines; as teachers to educate youth in these doctrines; and as missionaries to spread the Gospel to foreign lands.Paul approved the society as a religious order in 1540. The Jesuits guided the Catholic revival and led the Counter Reformation (Bainton, 1983). The Council of Trent marked the beginning of the Counter Reformation. As early as 1534, Paul III had called for an ecumenical council to institute the reform, but his plans were obstructed by corrupt church officials and various continental leaders who wanted to maintain their influence over the church. The council finally convened 1545 and sat for three sessions (1545-47, 1551-52, and 1562-63).It reaffirmed Catholic doctrines, implemented reforms to prevent abuses, and tightened papal discipline over the church. It also gathered church forces into a united front against Protestantism. In 1555 Caraffa became Pope Paul IV. To demonstrate his commitment for reform, he broke with the papal tradition of worldliness and began a life of austerity, a standard which later popes maintained (Reardon, 1981). References: 1. Bainton, R. H. The Age of Reformation. Krieger, 1983. 2. Reardon, B. M. G. Religious Thought in the Reformation. Longman, 1981.

I Know Why the Caged Birds Sing Essay

1. In the memoir the passage reveals Ritie’s self image. She characterizes herself as unappealing she does not see beauty within who she is. Ritie’s childhood led to her insecurities. When she was younger her parents took her to move with her grandparents. She believed her parents dishonored her. Ritie did not find her skin beautiful. She believed white was beauty. She was an uncomfortable in her own skin. She tried to become someone she is not because she knew how everyone view and felt about her. Since her childhood she received her appearance. Ritie kept her identity intact by not letting peoples judging and views influence her. 2. After years of separation Ritie’s relationship with her mother is respected. She respects her mother for who she is. Ritie sees her mother as a strong women, she knows her mother will also love her for who she is. Ritie admires her mother she looks up to her. Her love for her grandmother is more of mother daughter bond. Ritie’s role model is her grandmother and she is proud to say it. She sees her momma as a strong powerful person. She is tough but loving. Ritie’s wants to become like her grandmother, she loves her. 3. Maya knew she was different. She knew she did not fit in with the other girls in school. She did not feel that she was equal with everyone else she felt as she did not belong with the other children. She did not associate with anyone. She would isolate herself in a store. She barely socialized with any children. She stayed away from children her age even others. A comparison to race was when she was younger her tooth ached. The dentist was not willing to work with her. He was very racial and only worked with white patients. Ritie’s family copes with racism by not letting it affect them. They ignored, they maintained their dignity. 4. At the end of the memoir Ritie learns what might seem right to you will not always be viewed the same with others. For one to hare greatness they must go through obstacles. She learns everyone has the own definition on what is wrong and right. Ritie applies this when she had her baby she grew up and it gave her confidence in her baby. She always did what was best for her baby. 5. Why the Cage Bird sings shows that there is always a light at the end of a tunnel. When there’s darkness and disadvantages there is always hope to find your path. It shows they had to deal with negativity and racism but they took that and turned it into positive. The title relates they went through many struggles but in the end they can be free. 6. Adversity in the story delt with abandonment, racism, childhood trapped, unacceptance, also religion. In Mayas case she and her brother were sent to live with their momma in Stamps, Arkansas. She always had it in her mind that her parents were not alive. When she found out they were she had the feeling of abandonment she felt that they did not want her. When Mayas dad comes to get them she does not want to leave. She got use to Stamps. She overcomes her adversity by realizing her parents were going through a difficult situation. 7. Lessons can be learned about the South. Situations are never easy but you have to make the best of it. In life we are always going to struggle but we must stay strong and not let it get the best of us. There are always going to be people who judge you or don’t accept you. But if you know who you are and where you come from that’s all that matters. Another lesson is when should not try to be. Someone we are not we must appear ourselves because no one is perfect. We all have insecurities about ourselves but we should love who we are. Natasha De La Cruz Grade: 10 Title: â€Å"Bless Me, Ultima† Author: Rudolph Anaya 1. During the World War 2 actions occurred in this novel. In the novel a women lost her sons due to the war. Gabriel had both of her sons fighting in the war which was also significant hat occurred was a veteran shoot Chavez because he was affected by the war. 2. The characters adapt to the landscape because of the family’s different life livings. Antonio had to live two different life styles. His mother’s families were simple farming people. It was easier for them to farm everything was more nourishing. His father’s family was rougher around the edges. They were more independent and the land was harder to work with. Both families had their own values. 3. A movie that relates to this novel is Ruby Bridges. Both Ruby and Antonio go through struggles in their life to make something out of them. The film is about a young six year old African American girl who had enough potential to get into a better school for a better education which was in an all Caucasian school. Around that time racism was still around. Ruby was the only African American girl in her class, which then led problems to the parents of the children in her class. No one accepted her in the new school except her teacher. Throughout the beginning she had faced crowds of white citizens against her physically and emotionally. One day she was encouraged by her teacher and her mother who gave her strength and she made it through. She became significantly important in the civil rights movement.

New Australian National Nurses Registration Research Paper

New Australian National Nurses Registration - Research Paper Example This new registration system has been enacted through relevant education in each State. This new law oversees the administrative aspects of several health professional groups into one national entity. There are many good reasons to make the change and yet there are also many issues that need to be resolved. Nursing in Australia has been mostly a two tiered structure in which there are level one nurses who have a bachelor degree and level two nurses who have extended their education to receive certificate or diploma. Nurses have been the driving force of the healthcare system in Australia. The system is changing with the needs that have been created with the shortage of nurses and the ageing of the present nursing population. This paper will discuss that change. In 1984, the Commonwealth government made a decision to transfer nursing education to tertiary education with level one nurses prepared at the diploma level. In 1992, it became necessary to have a bachelor's degree (Kenny & Duckett, 2004). The Project 2000 report resulted in the change of second level RN training everywhere but Australia. Australia chose not to do this based on the fact that Australia has stronger unions and different strategies for their professional nurses, such as viewing the second level RN as an associate to the RN. This nurse is called the Enrolled Nurse. These EN's are meant to practice under the direction of the level one nurse or RN (professional nurse). They report to the level one nurse but are still responsible for their own practice (Kenny et.al. 2004). Core competencies for the EN have been difficult to monitor as they have been different according to where one works. In some states they have been able to administer medicines and in some states not. The new law which took place July 1, 2010 creates the National Registration and Accreditation Scheme for health care practitioners, including nurses and midwives. This new law will create many changes in the way that healthcare is delivered in Australia, in particular, in the rural areas (Forsythe, 2009). It also creates standardization in licensing and in competency levels. It assures the understanding of the RN level of nursing which is University level, the EN which is diploma level and the NP or nurse practitioner level. III. Bodyiii.i Scope of Practice There are three essential criteria that are noted for defining scope of practice. Those are education, competency, and authorization to practice. These guidelines are published under the ANMB-codes and guidelines in Australia. These guidelines give the nurse and organized process in determining whether something that needs to be done is within her scope of practice. Failure to understand these guidelines can lead the new RN to