International Business And Accounting Essay Example | Topics and Well Written Essays - 2500 words

International Business And Accounting - Essay Example The consumers across the globe have expanded choices in terms of services and commodities available in the market. The international trade volumes have spurred economic growth and development in third world countries and this is reflected in terms of expanded business opportunities, increased employment and improved wages. The diversity in market structures, financial environment, cultural practices, consumer behavior, and industry trends present risks and challenges to international companies. Trading in goods and services in such conditions assume new complexities that can restrict the potential of growth and development (Evenett & Hoekman, 2006). Based on these observations, the paper provides an in-depth assessment of the implications and impacts of free-trade agreements from the differing perspectives of business, consumer, worker and society. The subsequent sections highlight the pros and cons of free trade agreements and how it impacts each section of the society and economic framework. Problem Identification and Analysis International trade and economic cooperation has been driven by government initiatives and international communities that frame their decisions on the inputs from private sector. Regional trade communities and bilateral trade agreements facilitate trade and investment through improved transparency, removal of non-tariff barriers, market liberalization policies, establishment of trading norms and standards, and improved bilateral understanding to support trading in services (ASEAN-China report, 2001). While globalization of economies and market liberalization practices have defined new opportunities for unrestricted trade and commerce between countries, regional trade... This essay stresses that global trade is beneficial for kinds of economies, whether developed or developing. Producers’ benefit from selling their goods in international markets generating higher revenues and consumers benefit from expanded choices of products available in the market. The international trade can help reduce poverty levels and erase income inequalities in developing economies promising improved standards of living. The international trade is regulated through a set of rules that the governments of the countries have created over the years. The poorer countries have restricted access to markets in developed countries due to the imposition of various trade barriers and agricultural subsidies. This paper makes a conclusion that markets have become more volatile as a result of global impacts and this has created the need for changing strategies in business operations and tactful government intervention to insulate the country’s economy from harmful economic effects. Monetary and fiscal policies are highly instrumental in regulating the country’s economy and creating market stability. The key strategic focus of governments while formulating trade agreements should be on eliminating trade disparities and establishment of norms that define quality of products and services delivered to the end consumers. The developed economy must focus on ensuring a fair trade practice that helps in reducing trade barriers and any form of economic exploitation.

Charles Dickens and Curleys Wife Essay Example for Free

Charles Dickens and Curleys Wife Essay A comparison of Nancy from Oliver Twist by Charles Dickens and Curleys Wife from Of Mice and Men by John Steinbeck. In the two books both characters can be compared with each other but in many ways they are different in looks, language and personality, but the reasons for which the authors created them is much the same. I believe that Steinbeck created Curleys wife, so that the reader feels sorry for her because most of the other characters in the book try to stay clear of her and do not get to know her, and in a sense, judge her by the way she dresses. On the other hand Steinbeck is trying to express to the reader that looks do not count for everything. The main reason for Curleys wifes creation in my personal opinion is because all of the characters in the book are misfits for example; Lennie is not clever and acts like a child when he is with George by the riverbank and threatens to leave because George becomes annoyed with him. Also Crooks the Negro is crippled and cannot walk very well, but in his own way he is special and well educated. In the same way Dickens creates Nancy as the type of character that the reader feels sorry for but at the same time accuse her for the mistakes she has made, such as running away from Bill Sikes but returning to him because she loves him and cannot bring herself to leave. As the book progresses the reader begins to gain more respect for Nancy but I believe that there is a reason for Nancys death, which is brought about by Oliver and this, is that doing the right thing does not always mean that it is not dangerous to yourself. The two characters have different opinions on their partners and are not treated in the same way, but neither of them is happy with her life. Curleys wife is unhappy with her life and this is most likely because Curly is over possessive of her and all he ever talks about is fighting which makes her a little scared of what he may do to her if he is in a mood. She is always flirting with other men on the ranch like when she is alone with Lennie she says, What you got there sonny boy. We are also given the impression that she is a tart by the way Steinbeck describes what she wears, She wore her bright cotton dress and the mules with red ostrich feathers. Her face was made up and the little sausage curls were all in place. Curleys wife married Curley to get back at her mother after her dreams had been broken because the letter, which she had been promised from Hollywood never, arrived. On the other hand the only reason Curley married her was for his reputation and we know that he is vein due to the way he keeps one hand in a glove in order to keep it soft for her. Curley is also worried about what she may be up to when he is absent and therefore is always snooping around after her, which makes his wife feel trapped. Nancy in much the same way is not loved either but she does really care about Bill Sikes. Unlike Curleys wife, Nancy is assaulted by Bill on many different occasions and is eventually killed by him. The main difference between the two characters is that Sikes is not overprotective of Nancy in the same way Curley is and will let her go out as long as he knows where she is going, the reason for this is that Sikes knows that Nancy is loyal to him. When Nancy meets up with Rose and helps to save Oliver she also offers Nancy a new start but the offer is declined because Nancy does not want to leave Bill Sikes and she says, The main contrast between the two characters is that Nancy loves Bill, but Curleys wife does not love her husband but she cannot leave him because she lives on the ranch and has no other place to stay. The characters partners opinions compare because neither of them really care for their lover. Sikes treats Nancy like a punch bag and she is scared of Curley because he has hit many other people and she is suspense waiting to see if he will lash out at her. In Of Mice and Men Curleys wife is known to some of the other characters such as Crooks, George and Candy as a tart or a bitch and a good example of this is when she walks into the bunkhouse and George says, Jesus what a tramp, so thats what Curly picked for a wife. As George is saying this Lennie is admiringly staring at her saying Shes purty in response to Georges insult. Most of the men on the ranch try to stay clear of her and George warns Lennie about her too, Listen to me you crazy bastard, dont you even take a look at that bitch. I dont care what she says and what she does. I seen em poison before, but I never seen no piece of jailbait worse than her. You leave her be. Lennie refuses not to listen and ends up not taking any real notice of what George has says to him. Oliver respects Nancy, like Lennie is fond of Curleys wife and both of them seem to have child like qualities that judge the characters for who they are and not how they dress or look. In the same way as Curleys wife is despised by the ranch workers, Nancy is looked down on by the upper class people of the nineteenth century. The main reason the upper class residents do not respect Nancy is because she is a prostitute and in the time of Dickens this occupation was the lowest of the low for a woman. When Nancy goes to visit Rose, who is the adopted daughter of the women whose house Oliver broke in to, she is looked down on by the servants and thrown out of the hotel because of the way she looks. Come! said the man taking her to the door, None of this, take yourself off. The servants are not the only characters that look down on Nancy, Fagin and Sikes treat her badly and Dickens describes Sikes as using Nancy as his punch bag. Bill Sikes persists this behaviour even though Nancy looks after him when she is ill and says that she would even walk around the jail if he was arrested, just to be with him, but Sikes replies that she would be useless to him unless she brought a file to help him escape. On the whole I feel that neither of the character are loved and they are judged by the way they look, not by the people they really are inside. Each of the characters is special to one person, in Curleys wifes case Lennie and in Nancys, Oliver. I feel that the biggest difference between the two books is the language and the reason for this difference is the time at which they were written. In John Steinbecks Of Mice and Men the language is simple but strong, the reason Steinbecks characters speak in this way is because thats the way 1930s Americans would have spoken, for example, when George, Crooks and Slim are talking about Lennie, George says, If that crazy bastard foolin around too much, jus kick him out, Slim. There is also a large amount of slang used between the characters, like when George and Curly are talking and George replies, He was gunna put some tar on a split roof.

Tennis Ball Investigation :: Papers

Tennis Ball Investigation Aim: Investigate the factors that affect the bounce of a tennis ball. Key factors (variables): 1) Height of drop 2) Surface of bounce 3) Gravitational pull 4) Room temperature/ball temperature 5) Weight of ball 6) Material of ball 7) Brand of ball 8) Age/wear of ball 9) Size of ball 10) Force of drop/push How the key factors will affect the bounce: 1) The higher the drop the higher the bounce 2) The harder the surface the higher the bounce 3) The weaker the gravitational force the higher the bounce 4) The warmer the ball the higher the bounce 5) The lighter the ball the higher the bounce 6) Discontinual-unknown 7) Discontinual-unknown 8) The newer the ball the higher the bounce 9) The smaller the ball the higher the bounce 10) The more force put into the drop/push the higher the bounce I have chosen to investigate 1) Height of drop. Prediction ========== [IMAGE] I believe that the higher the height the ball is dropped from the higher the bounce, because when the ball is lifted the higher it is lifted the more energy is needed to lift it. Therefore more energy is converted from chemical potential energy in the body, to kinetic energy when the ball is being lifted, to gravitational potential energy (G.P.E) when the ball has been lifted to the height of the drop. The more G.P.E the ball has a the start of the drop (point A), the more energy is converted to kinetic energy while the ball is dropping and then to elastic potential energy (E.P.E) while it is static on the floor (point B). At this point the ball looses a percentage of its energy to sound and heating the floor. I know that it is a percentage of its energy that it looses rather than a fixed amount because I know that the more energy the ball has the louder the

The Great Gatsby :: essays research papers

An essay on 'The Anatomy of Human Destructiveness by Erich Fromm. Amount of pages: 478. The book goes on in explaining the ways of aggression and how it reaches into man. Citing aggressive examples in the behavior of necrophilics and Hitler. The author goes into the early life of Hitler and his parents. How it had effect on what he became and his destructive way of life. He was a man that laid half way between reality and his fantasy. He had played war games up until the age of sixteen and after that he commanded his army like they had been a game. Taking risks with soldiers as well as ignoring precise information that would have been critical to his plans; and also the ignorance of British and US tolerance. He was a psychotic man who is a very good example of how far a man with destructive purpose can rise. Trying to explain aggressive behavior, there is focus on a core issue, instincts. Going through animal behavior and comparing it with human behavior and how similar our instincts are. There is also focus on examining primitive tribes. The object of these findings were to find out how warlike the tribes are. In the hunting-gatherers tribes, war is not as popular and profitable as in modern society. Two reasons for this is that these tribes don't have most valuable items and there is no shared type of currency to take. In these tribes, war was infrequent and not lead by permanent leaders. As opposed by modern days. What also differs is the conquest to kill as many of the enemy as possible. Aggression is ruled into several categories, such as Benign aggression which is one of a defensive type and malignant aggression which actually roots into other conditions. Premises, necrophilia, cruelty and destruction. The joy of destruction and abuse of it.   Ã‚  Ã‚  Ã‚  Ã‚  Destructiveness rest not only in acts but as worships. There is a case of idolatry, a man totally devoted to the monster of destruction. Kern, von salomon. A man like this and his acts are by no means normal, and supposedly caused by the world he knows, all morally, socially, honor, obedience is lost. The aggression takes control for many reasons. Although an extreme case of aggression, we see what may be societies cause on it's own people. Such a thing is a window to this picture.   Ã‚  Ã‚  Ã‚  Ã‚  Another focus would be on Milgram's electric experiment.

Leadership strategy Essay

A primary task of high performance leadership is to provide strategic direction to the organisation, various departments and divisions within the organisation, and to the people who ultimately implement strategic leadership. But regular employees are seldom involved in the process. Authoritarian governance has had two powerful and mutually reinforcing dynamics: People at â€Å"the top† of the organisation, normally in senior managerial positions, have tended to maintain control over strategic processes. They have often become alienated from the realities of operational or shop floor demands and challenges People at operational levels have been part of authoritarian behaviour in different ways (passivity, fear, frustrated) The core challenge is to position strategic leadership as an integrated set of activities and processes which ensure that people across all levels and functions understand their own roles and accountabilities as it relates to the organisation’s strategic leadership Successful strategic leadership occurs when people across all levels and functions have a common understanding about a few essential issues: Knowledge of how strategic leadership is formulated, translated and communicated, implemented and assured within the organisation The formal business processes. The specific and different roles, rights and accountabilities of stakeholders Clear understanding of personal and team roles Comprehension of the various requirements and roles Popular acceptance that legitimate hierarchy and rank are essential components Definition and acceptance of the roles, rights and accountabilities The challenge is crafting solutions which create legitimate and popularly supported rank and hierarchy, and with clearly understood boundaries which describe what may and what may not be done by optimally empowered people Rank, hierarchy and boundaries per se are not only a feature of authoritarian systems. They are an essential part of successful democratic workplaces where a culture of high performance through high involvement can thrive There is still a need for clear definition of a range of roles, rights and accountabilities. There is a need to define two mutually reinforcing parameters: What are the roles, rights and accountabilities that have to be acknowledged by everybody to ensure the organisation’s capacity to fulfill the requirements of high performance What are the constraints, the limits or conditions of high involvement Drucker proposes that strategic leadership needs to fulfill requirements in four areas: Effectiveness Efficiency Long-term Short-term VISION (Long-term effectiveness): Understanding the organisation’s total competitive environment, and positioning it in the present so that it is appropriately placed INTERDEPENDENCE (Long-term efficiency): Identifying, balancing, integrating and aligning all of the external and internal variables that are likely to have an impact on the organisation’s capacity to fulfill its strategic leadership STRUCTURE (Short-term efficiency): Establish replicable standards, approaches and methods which minimize the need for duplication and enhances the capacity to deliver uniform or required quality as a matter of course ACTION (Short-term effectiveness): Taking the necessary steps and action to ensure the delivery of products and services which meet the needs of both internal and external customers An integrated strategic leadership consists of all four VISA elements. The dominance of only one element could perhaps be described as: Only vision: Exciting bankruptcy. People cannot identify with the development of strategies Only Interdependence: Happy bankruptcy: never-ending cycles of consultation Only Structure: Precise bankruptcy: bureaucracy and red tape Only Action: Busy bankruptcy: people perpetually busy but not necessarily productive The absence or weakness of any component of strategic leadership will undermine the success of the organisation: 0ISA: Weakness of vision leaves people without common direction V0SA: Poor interdependence almost always leads to some stakeholders feeling that their legitimate interests are not being met VI0A: Insufficient emphasis on standardization leads to lack of essential disciplines and conformance to necessary standards VIS0: Ultimately the organisation can only survive and thereby satisfy the interests of all its stakeholders if it has a high propensity for action Organisations and teams regularly develop a bias that values some elements more than they do others. Personal styles and approaches also contribute to establish our individual preferences and approaches. It is useful to rate your personal approaches and preferences, as well as that of your team or organisation Vision provides a compelling dream that galvanizes and aligns the behaviours and contributions of people across all levels and functions. A real vision is very active. It is filled with drive, energy and perpetual motion. The vision, or long term effectiveness element of strategic leadership, is achieved by fulfilling the following requirements: 1. Scan the external environment and conditions 2. enable leadership to anticipate long-term forces of change 3. create a challenging view of the future 4. tension between the desirable future and those elements of the present that could inhibit progress 5. communicated with passion 6. evaluated against the present 7. new challenges emerge 8. leadership must always act with insufficient information 9. interacting with stakeholders 10. dynamic and living process Interdependence acknowledges that no organisation operates in isolation. Every organisation is a system operating within a system. It requires the acknowledgement and willingness to embrace the interests of a variety of diverse stakeholders. The interdependent or long-term efficiency component of strategic leadership is fulfilled in the following ways: 1. Variables must be identified 2. The interests of all stakeholders must be defined and appreciated 3. Balance and meet all possible diverse stakeholder needs 4. The support of all stakeholders must be gained and increased over time 5. Interaction must be facilitated between stakeholders for them to appreciate their interdependent nature 6. There will inevitably be conflict between stakeholders 7. The roles and accountabilities that various people and stakeholders have to fulfill must be defined quite clearly 8. Keeping people adequately informed is a crucial element of interdependence 9. Mutual trust and respect 10. help people to define their own specific contributions to the organisation As organisations become more complex, and as the world within which we operate becomes increasingly unpredictable, the need for Structure increases significantly. Successful organisational strategic leadership has to establish and maintain a range of activities that introduce and maintain Structure: 1. The specific interests of stakeholders need to be both quantified and qualified 2. In today’s competitive environment it is essential for organisations to establish required benchmarks of performance 3. There is a constant interplay between specific stakeholder interests and meeting required benchmarks of performance 4. provision of relevant and useful information 5. Standards have to be set and communicated on an ongoing basis 6. Standards are no longer a fixed point on the horizon 7. The discipline of continuously and regularly monitoring performance is one that cannot be sacrificed 8. It also has to look at elements such as leadership style, living of values, and commitment to the subtleties of people development 9. Consequences of non-conformance need to be defined, understood and applied 10. people across all levels and functions thrive on information–driven problem solving Action is the level at which products and services are actually delivered to meet the interests of customers. Creating and keeping more customers. A sustained and high propensity for action is achieved in the following ways: 1. The organisation’s vision must be made relevant to operational areas 2. Customer needs cannot be fulfilled only by sales and distribution functions 3. Accountability has to be placed as close as possible to the source of action 4. people have to be continuously part of determining the limits and constraints within which they are expected to operate 5. Successful action is driven by leaders who establish their personal power of presence (top executives have no time) 6. Quality and productivity has to be an in-built function 7. demonstration of attitude and will 8. Emphasis on people development 9. attitude that accepts error as an inevitable consequence of innovation and action 10. A propensity for innovation and action LEARNING The growing complexity and competitiveness of the international and local economic environments within which organisations have to survive and prosper makes it essential for leaders of the future to value learning Leaders must develop the capacity to think simultaneously about paradoxical and contradictory requirements. The act of leadership is, as Peter Drucker puts it, the challenge of constructive destruction, of doing things differently and doing different things Kolb: real learning has only taken place when every one of the four facets has been included in the process: Abstract Conceptualization: â€Å"think about the previously unthinkable or unknowable†. It requires the capacity for hypothetical formulation Reflective Observation: need to stand back and observe what is happening Concrete Experience: ability to continuously asses what has worked and to pass this experience on to others. concrete experience remains one of the only ways in which organisations can develop replicable application of processes and activities that ensure minimum conformance to standards Active Experimentation: often organisations still limit the ability and space for people to become involved in such activities. Active experimentation requires calculated risk-taking The relationsip can be described as follows: Abstract conceptualization x reflective observation x concrete experience x active experimentation = Learning and Leadership Abstract Conceptualization x 0 x 0 x 0 = 0: we often remain hamstrung by old experiences which may have become irrelevant 0 x Reflective Observation x 0 x 0 = 0: Nothing happens and there is no real threat that anything will happen! 0 x 0 x Concrete Experience = 0: People relying predominantly upon concrete experience for their learning are caught in a perpetual search for the infallible, predictable, pre-planned, scheduled, structured, all-eventuality, and all bases covered solutions to problems – â€Å"late adapters† 0 x 0 x 0 x Active Experimentation = 0: All that matters for them is the exhilaration of making things up as you go The Consequences of Undervaluing any Facet of Learning: 0 x Reflective Observation x Concrete Experience x Active Experimentation = 0 (The absence of Abstract Conceptualization): It is much easier to define this symptom than it is to resolve it Abstract Conceptualization x 0 x Concrete Experience x Active Experimentation = 0 (The absence of Reflective Observation): The number of continuously changing variables which are capable of influencing the performance of an organisation are virtually endless. people either stopped taking a hard and reflective look at what was going on, or they stopped asking appropriate questions. he managers, and more often the specialist staff functions, start to confuse doing lots of things with an integrated and holistic approach, but they lack congruence and theoretical integration. without an integrative framework and commonly shared model, people rapidly lose their commitment and stamina to sustain focused activity Abstract Conceptualization x Reflective Observation x 0 x Active Experimentation = 0 (The absence of Concrete Experience): things become redundant while they are still on the drawing board or as soon as they are launched. age-old and essential facet of learning – the assimilation and valuing of concrete experience. The single most common symptom is that untested assumptions abound Abstract Conceptualization x Reflective Observation x Concrete Experimentation x 0 = 0 (The absence of Active Experimentation): People develop an inward approach to problems and issues. It does not take too long for such insularity to develop into suspicion of external developments By critically evaluating how organisations learn, and constantly determining whether all the facets of learning are being fully developed and utilized, we can provide a much more tenacious learning environment.

Gershwin Essays - Rhapsodies, George Gershwin, Rhapsody In Blue

Gershwin Essays - Rhapsodies, George Gershwin, Rhapsody In Blue Gershwin My primary goal for enrolling in music appreciation was to learn about the composers/musicians that have greatly contributed to modern music. Therefore, I decided to analyze a piece of music Rhapsody in Blue, which affected music in 1920s and still impacting the music world today. George Gershwins, Rhapsody in Blues, first performance was on February 12, 1924, and became an overnight success taking the music world by surprise. In this paper, I intend to analyze two very important versions of Rhapsody in Blue, and describe Gershwins life leading to his achievement. George Gershwin was born Jacob Gershowitz on September 26, 1898 in Brooklyn, New York. The son of immigrant parents, George had two brothers, Arthur and Ira, and one sister Francis. Although, George is the most well know of the family, his brother Ira was also a successful lyricist. In fact, if it were not for Iras interest in music, Georges parents would have never purchased the familys first piano. George, took an immediate interest in the piano, and immediately began successfully playing by ear. His parents arranged for piano lessons, and George began to study seriously at the age of 12 years old. George began his professional career in Tin Pan Alley, Located in New York City were aspiring composers and songwriters would bring their music in hopes of selling them for a modest amount of cash. He became a song plugger for the Jerome Remick Company. There, he became exposed to thousands of songs, giving him a better idea on the quality of music. Two years after he started work for Jerome Remick, George had his first song published. When you Want Em You Cant Get Em this piece was not an instant success for George, but it attracted attention from other great composers. This composition shaped the foundation, for the success Georges future was beholding. Very few composers have achieved instant celebrity to anything like the degree that George Gershwin enjoyed following the performance of Rhapsody and Blues. This piece was composed very quickly. In fact, the whole evolution of this composition was an experiment. Paul Whiteman, one of New Yorks foremost bandleaders had hired the Aeolian Hall for what was billed as An Experiment in Modern Music. The experiment was to see whether it was possible for American composers to achieve a combination of classical and popular idioms and forms. This experiment was a success, and paved Gershwins road to a short but successful career. The Rhapsody was extremely important to the future of American music because it introduced what Rudy Vallee called symphonized syncopation to sophisticated audiences in the serious setting of the concert hall. The Rhapsody in Blue, which owes much to the influence of Liszt, Tchaikovsky, and the Russian music Gershwin heard as a young student, has beautiful, recognizable, unforgettable melodies, and the entire piece is characterized by Gershwin's energy and rhythmic sense. In Rhapsody in Blue he combines Jazz, Impressionism and classical elements, which he uses for his unique 20th Century romanticism. He utilizes the expression of emotion without over-romanticizing Impressionists, and grounds it with his plain rhythms. He then implements gorgeous melodies between the major themes. For example, the Andantino Moderato section opens with the most compelling theme in the Rhapsody, a theme so haunting it could have easily descended into an emotional mire were it not for the introduction of a sub motif in the third and fourth bars. It is so important to Gershwin to restrain the music emotionally, that one never hears the Andantino Moderato theme without its brittle and unusual interruptions. The original version of Rhapsody in Blue, was a great performance, but incomplete. In the piano part of the original 1924 piano/orchestra edition, over fifty measures had been deleted in the published versions. Remarkably, eighty-eight measures were missing from the piano solo version. Where Gershwin left blanks or few indications, necessary editing had been made. However, in over sixty-five measures, Gershwin's own phrasing, chords, notes, dynamic and other interpretive clues had been altered! Grofe's orchestration of Gershwin's manuscript had not been shortened, and Grofe had not personally made any deletions from Gershwin's piano manuscript. The final result of Harms decision to shorten the Rhapsody was a fragmented and truncated work, lending

Process Essay

Process Essay Process Essay Process Essay We Are Learning to Describe Correctly! Im absolutely curious person from the early childhood. There was not a case in our house when I stood still without poking my nose into some affair. When the microwave worked, I always tried to unlock the panel and look inside of the oven. When the washing machine laundered our dirty clothes, I always want to open the hatch and touch the barrel in the epicenter of centrifuge. I even tried to dismantle our fringe just to understand its function of cooling the food. In other words, I was interested in the processes of the work, when these devices were exploited. Probably, when you are writing the process essay you should use the same approach to human curiosity: Process Essay: The Purpose and the Structure. Actually, the purpose of process essay is quite obvious: to describe the process of some phenomenon or happening correctly. In other words, in your work you pay special attention to the process and its features, supporting your report by facts and solid arguments. It means that to describe the process correctly you have to understand the process from within and it would be better, if you find out the process directly, in practice. There are some principles in the working with process essay: Think about the plan of your description it could be a simple outline, that helps you to display the process gradually; Begin your description with the main thesis, and then illustrate the process in details; Use the method Step-by-Step when you describe the process. Divide your process essay on some phases for the simplicity; You could present your work as the process direction essay just to explain the purpose, stages and practical needs of describing process. Do not forget to describe both the aim of each stage and the whole process Conclude your work and make the appropriate outcome. Process Essay: The Final Result. As you can see there are no serious difficulties in the working with process essay. I think that every person could describe any process just using the above-mentioned tips. Also, you may give your readers some usual advice, concerned with your process essay topic. In addition, if it possible, you could raise the specific questions about the topic it will be a good precondition for discussion and debates. Anyway, show your skills of fantasy your task is to interest the reader and attract the attention to your essay by all means. Read also: Creation Paper Cause Effect Papers Writing a College Term Paper Great Expectations Essay Great Essays

Evaluation of Walmart

Evaluation of Walmart Cost Leadership Walmart’s main business strategy focuses on building and maintaining cost leadership in the market. The company’s slogan reads, â€Å"Everyday low price†. This highlights its main focus on cost leadership. The strategy entails offering the same market products offered by rival firms at lower costs, but without compromising the quality.Advertising We will write a custom essay sample on Evaluation of Walmart specifically for you for only $16.05 $11/page Learn More Walmart manages to achieve this objective by relying on a highly efficient supply chain management that only avails products to the consumers at the right time when they need them. This eliminates additional costs that come from holding stock within the company’s premises (Schermerhorn 223). Walmart uses a sophisticated technology to interconnect its operations with those of the suppliers. In essence, information about stock levels within the company is rel ayed in real time. The sophisticated IT system relays the information to the suppliers immediately every time consumers purchase a commodity from the retailer. This makes it possible for the suppliers to monitor the stock-levels at any given time. Thus, restocking occurs at the opportune time just when the clients need the products and in the exact quantity. The ‘in-time’ logistics in the company has been the main reason behind its cost leadership in the market. The retailer also sells products in smaller quantities to allow its customers to pay less (Schermerhorn 223). Walmart acquires goods packed in large quantities, but it repacks them in much smaller quantities for sale at reduced prices. This sustains its â€Å"Everyday low prices† slogan. The true meaning of the slogan would not be achieved if the firm decided to sell the commodities in the large packaged quantities that it acquires from the supplier. Differentiation Strategy Walmart pursues a differentiat ion strategy whose main objective is to offer products and services that are unique in the market. Although the firm is not involved in manufacturing, Walmart stocks products that are specifically packaged in branded material. The company has invested heavily in repackaging materials to enable it achieve the differentiation mission.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Additionally, Walmart offers unique warranties that other rival retailers in the market do not offer (Daft 253). This creates a unique feeling among the consumers, making them believe that the experience is only available in Walmart and not from any other retailer. Acquisition Strategy Walmart has focused its efforts on market acquisition as a way of expanding its market presence. The firm considers acquiring other already existing retailer firms in foreign markets and maintaining their original names to cope with the globalization phenomenon and increasing market competition among rival retailers. This is the case in most conservative markets where a foreign trade name may not augur well with the company. Walmart also considers acquiring and merging with other businesses outside the retail industry as a way of expanding its portfolio. This also helps in spreading the company’s risks evenly (Daft 255). Walmart, for instance, acquired Kosmix, which is a social mobile platform. Walmart operates under the ASDA trade name in the United Kingdom after the latter was acquired in 1999 by Walmart. Product Quality Concerns Walmart has instituted a mechanism that focuses on maintaining high product quality. All Walmart stores around the world are required to fulfill the Global Food Safety Initiative (GFSI). This GFSSI procedure calls on all food suppliers to be subjected to the factory audit checks as a way of ensuring that the products meet the desired quality. The retailer has worked together with The Sustainability Consortium (TSC) since 2009 as a means of developing measurement, as well as reporting systems. The target is to enhance product sustainability and eliminate problems attached to product quality. In this arrangement, TSC performs research on metrics and the reporting systems. The research, in turn, helps Walmart to engage suppliers while clearly understanding the products sold.Advertising We will write a custom essay sample on Evaluation of Walmart specifically for you for only $16.05 $11/page Learn More In recent times, however, there have been rising concerns over poor quality of products sold by Walmart. For instance, the fresh foods sold by the firm have been found to suffer from poor quality. This problem is mainly linked to another challenge being faced by the firm, the challenge of staffing and related issues (Weiss 472). Walmart’s fresh foods have only managed a low market share in comparison to other market p layers. This could be an indicator of the worsening product quality concerns. Labor Practices Walmart has been involved in accusations with labor union bodies, religious organizations, and community groups over its labor practices and policy. The retailer was taken to court over what its accusers termed as discrimination of its staff along race and gender. Three women employees filed a sex discrimination complaint against the retailer in 2012, accusing Walmart of failing to promote them because they are women. The accusations leveled against the company also mention the fact that female employees generally earn less compared to their male counterparts (Daft 122). Workers in the firm have also accused their employer of failing to observe acceptable labor practices, resulting in poor conditions of work in the various stores owned by the retailer. Business Ethics Walmart considers ethics as the strongest aspect of its success in business. The organizational structure has an established global ethics office whose main mandate is to promote its culture of integrity (Walmart para 1). The office also develops and helps in upholding the policies that relate to ethical behavior concerning all the stakeholders. Ethics education is offered on a routine basis to the employees. In this case, all workers undergoing training in the firm are subjected to consistent integrity lessons. Walmart supports a special award related to business ethics, the Integrity in Action Award, to further emphasize on the need to enhance business ethics (Walmart para 1).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The award is offered in recognition of individuals or associates of the firm who demonstrate a greater level of integrity through their consistent actions. Such recognized associates must also have inspired others to do the right thing while dealing with Walmart in one way or the other. The retailer practices integrity itself when selecting winners for the award by allowing the associates to conduct their own voluntary nominations. The resultant global votes determine the perfect recipient of the award. Walmart also takes consideration of each of the countries where the firm has a presence (Walmart para 3). Market Share The retailer has the biggest market share compared to its competitors in the USA, which is Walmart’s traditional market. Walmart’s heavy presence throughout the country and its business model that makes it stock virtually all kinds of commodities have been critical in sustaining market share leadership. On the global front, Walmart serves up to 94 milli on customers every week through its 5,651 established stores in 26 countries. However, a paltry 5.5% market share was registered in the year 2011 in China where the company is still in its early stages of development. The failure by Walmart to register a strong market share in China is attributable to the conservative nature of the Chinese. Market share growth in India has also been hampered in recent years following decisions by authorities in the country to shift foreign direct investment. The North-American market of Canada has equally posed great challenges to Walmart. The Dollarama Inc. is emerging as the fiercest competitor in the mass retail market in the rich Canadian market. Walmart trails Dollarama with the second best market share of 26%. This percentage of market share is 16 points less the share of Dollarama, which stands at 42% market dominance. Target Corp. is the third with a market share of 23% (Bloomberg News, 2012, para 1). However, Walmart’s subsidiary ASD A in the UK maintains an 18% market share, which is the second biggest in the country. Tesco still maintains the largest market share in the UK retail industry, standing at 30.2% overall (â€Å"Walmart: Update on International Markets† para 5). The African market equally has a strong Walmart presence of more than 300 stores that spread across 12 countries in the continent. Massmart, which is Walmart’s subsidiary in the region with a 51% stake ownership, has the fastest growing market rate, especially in the sub-Saharan region (â€Å"Walmart: Update on International Markets† para 6). The pie chart below depicts Walmart’s market share situation in the traditional US market. Source: Catala para 3 The chart shows that Walmart has a commanding share of more than half the market size. The second strongest competitor, Costco Wholesale Corp., does not even command a third of the market size. Advertising Strategies Walmart is adopting the use of technology in its advertising. In this strategy, the company focuses on developing a mobile app to reach its targeted markets. Shoppers using the app are able to see additional content, such as product information and the recipe. The company’s target is to reach a larger number of existing and potential buyers by exploiting the growing popularity of mobile devices as a result of the advancement in the ICT platform. The mobile app is a more interactive way of advertising because it allows the user to obtain more details about products and services. Walmart has adopted the use of popular social media platforms to create market awareness to further utilize the power of technology in its advertising. For instance, the firm has a Facebook page where a large community of customers and potential buyers meet virtually and discuss issues about their retailer. This increases market awareness because of the strong word of mouth power as customers share their experiences amongst each other. The company a lso uses the opportunity to communicate directly with individual customers while seeking to address some of the unique issues that affect them, thus learning more about the tastes and preferences of their customers. The company’s use of the social media platform in advertising also helps it to maintain its operating costs at a lower level, thus building on its competitive edge more. Evaluation of the Analysis Walmart has a greater potential of expanding in Asia and should be considered as Tech-Shield’s best choice as far as investing is concerned. Its cost leadership focus and strategy will attract more buyers in the region, resulting in higher profits. Most Asian economies are still considered as developing and have a weaker buying power compared to North America and Europe. Walmart will utilize its low price policy to attract more buyers with inferior disposable income and make the firm to benefit from the resultant economies of scale. Tech-Shield will receive a bigg er dividend rate coming from the huge profits amassed. This will be positive for the growth of the company. The low price policy pursued by Walmart has seen the company introduce a new business modality of selling products in smaller quantities. This will further attract customers towards the firm because most of them will find buying products from Walmart to be a more affordable practice. The more customers will appreciate the retailer, the more it will have its chances of making huge profits and increase the potential for Tech-Shield to get better returns. The differentiation strategy by Walmart equally increases the potential of the company to make better profits. Walmart stands a better chance to attract more customers and make higher sales than its rivals because of the increased market competition within the retail industry. Buyers increasingly feel that whatever commodity or service they purchase from Walmart is unique, thus they get attached more to the firm. The attachment increases their level of satisfaction and enhances their loyalty towards the firm. Walmart is poised to maintain high profitability for longer periods given such a positive business environment. The company can, therefore, sustain to pay attractive returns to all its shareholders for long. The acquisition strategy that is pursued by Walmart is another significant consideration that should influence Tech-Shield’s decision to invest in Walmart. Walmart is sure of expanding in the market in many other countries in the world through the acquisition approach. The experience that the company has gathered over the years through its subsequent acquisition of different retailers to gain access into new foreign markets eliminates the possibility of making over ambitious plans to a great assistance. Such successful acquisitions in high potential markets will translate to a larger market for both firms. Walmart will register bigger profit margins because of the expanded market. This will enable Tech-Shield to earn higher returns as one of the shareholders. Walmart’s future prospect is still promising, although its global market share has been threatened in some regional markets. The retailer still enjoys a strong lead in the highly lucrative US market. The US market contributes a significant profit portion to Walmart’s overall corporate profit. Walmart has maintained a strong market share position in other significant European markets, such as the UK. This portrays the company’s strong market position going forward. Going with this trend, it is appropriate to conclude that no other global retailer brand will find it easy to topple Walmart as the global leader in terms of the overall market share. Walmart’s extensive global expansion is unrivaled. This goes further to highlight Walmart’s potential of sustained industry leadership in as far as the overall market share is concerned. To this extent, a decision by Tech-Shield to invest in the company is the most strategic because of definite greater market revenue, which transforms to higher returns. Recommendation I suggest that Tech-Shield should invest in Walmart. Walmart has a positive business profile that reassures a higher return on the part of Tech-Shield. There is no present threat to Walmart’s growing global market, strong market leadership in the highly valuable US market, and the sustainable cost leadership strategy that it has implemented. This implies that the strong market leadership position that Walmart enjoys is set to prevail for long. In turn, a move by Tech-Shield to invest in Walmart will see it earn good returns for a long period. This will eventually improve Tech-Shield’s capital base. Conclusion Walmart offers the best investment alternative for Tech-Shield. The company’s cost leadership strategy gives a greater market growth assurance. The firm is capable of maintaining its operating costs at a low level compared to many of its industry rivals. This is a significant aspect in as far as building a competitive edge in the market is concerned. This will continue attracting more buyers for the company and maintaining the already existing customers. It also gives the company the confidence that profitability will remain high. The strong business ethics that focuses on maintaining integrity amongst the entire firm’s associates also gives hope for a greater business fortune for the firm. Integrity is a critical aspect that attracts customers and enables them to build strong loyalty towards the firm. Walmart will evidently reap maximum profits as it strives to enhance integrity. This will, in turn, trickle down to Tech-Shield as a shareholder. However, it is critical to note that Walmart also faces potential distractions that could derail its future ambitions in case no efforts are made to rectify them. As a shareholder in the firm, Tech-Shield should push for a renewed commitment on the part of Walmart to address the concerns of poor labor practices. Workers are significant players towards the greater performance of a firm, thus Walmart should ensure that it focuses on improving the plight of the workers before concentrating on the external customers. The firm should equally put additional measures in place to ensure quality concerns raised over its products are addressed fully. â€Å"Walmart: Update on International Markets.† Guru Focus. 2012. Web. Catala, Raymond. Walmart Market Share Analysis, n.d. Web. Daft, Richard. New Era of Management, Mason, OH: Cengage, 2008. Print. Schermerhorn, John. Management, Hoboken, NJ: Wiley, 2010. Print. Walmart. Home. 2013. Web. Weiss, Joseph. Business Ethics: A Stakeholder and Issues Management Approach, Mason, OH: Cengage, 2008. Print.

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The Curious Case of Benjamin Button - Essay Example According to the author, Mark Twain’s remark that it is a â€Å"pity that the best part of life came at the beginning and the worst part at the end† has inspired him to write a story, in which he experiments a character who ages in the reverse order (1). The movie differs from the story in many aspects but it retains the basic premise of the protagonist aging backwards. The film’s theme departs drastically from the perceived notions of a Hollywood movie and explores a novel concept, thus making its viewing a unique experience for the audience. The movie, with its poignant themes, profound philosophical ideas and portrayal of love, will remain etched in the viewers’ mind long after they have watched it. The basic reason for my choice of this movie for my final paper is that I have always felt a close personal affinity to the story, which conceptualizes a man aging backwards. This reversal in nature’s process brings very interesting and bizarre consequences in his life. The main reason for my fascination for the movie stems from the fact that as a child, I used to fantasize how cool it will be to grow younger rather than older. Basically, I have felt that being different from other people could be a thrilling experience, especially in the context of ageing. Besides, the whole concept of the movie is so romantic, appealing to the senses of compassion and benevolence in me, especially the tender love of his foster mother for Ben when he during his ‘younger’ stages as an ugly old person. Also, the story postulates many idealistic philosophies that have inspired positive attitudes in me since I saw it as a 16 year old. The story has bred an understanding that the dis advantages in a person must not be considered as shortcomings. It has also made me realize that people whose traits do not fit into mainstream notion also deserve the same rights and considerations as any other person in this world, because

Risk Behavior in Youth Essay Example | Topics and Well Written Essays - 2500 words

Risk Behavior in Youth - Essay Example Most of the established studies on young people in Western societies have been devoted to an understanding of their transition within their families and schools towards adulthood and their working lives. During the different stages of their transition, the young people confront or create risks as they go through. Risk behaviours that include tobacco, alcohol, and drug use are common in young adults, and it is a common finding that those who engage in risky behaviours are prone to engage in additional risky behaviours with passage of time. Social sciences have established that as the number of risky behaviours increase, depression as a comorbidity emerges that take away the productive and fruitful time out of the youth (Viner, R. and Macfarlane, A., 2000). Although not universally true, the young people are prone to take risks sometimes to the extent of a risky life. More recent research in Europe, the UK, the US, and Australia demonstrate a out of bound mismatch between the conventio nal models of transition and the attitudes, choices, and experience of young people themselves in reality. The reason may be significant social and economic changes since the early 1970s. These could have introduced elements of uncertainty, unpredictability and risk into the lives of the young (Young, R., Beinum, MV., Sweeting, H., and West, P., 2007). Thus, it can be stated that risk is a useful concept in understanding young people. In the following sections, evidence for that would be analysed in order to find support for this statement, so some solution can be found to prevent this. Endemicity of Risk There is evidence that risk and uncertainty are certainly endemic, and technology and social institutions are unable to eliminate it. The modern notion of risk is guided largely by uncertainty. Harvest failure, pestilence, migrations, new currents in religion, technological developments, and the unforeseen consequences of urbanization have all exerted a powerful and typically unpredicted influence on the problems and difficulties the population including the young face (Case, S., 2006). Traditionally, lack of certainty in life was attributed to "the other" agencies beyond human control: the ignorance of imperfect humanity, divine agency, luck, destiny, or fate. Many events in the history of society have been the eye openers of the fact that risk has accompanied technical development and revealed the weaknesses of institutions for managing the resulting uncertainty. The social scientific study of people's responses to risk tends to focus on either their narrow cognitive or their broad sociocultural roots (Dworkin, J., 2005). The Young There is a diversity of experiences that characterises the lives of the young people. Although they belong to the same generation they have emerged with different aspirations for the future and have made different choices about their personal interests and priorities, and hence they have different life patterns that do not match with any linear assumption or prediction. Research has shown that young people do indeed possess a sense of persistence and determination in the face of frustrated expectations. After education, every

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Romeo and Juliet, analytical essay Essay Example for Free

Romeo and Juliet, analytical essay Essay Romeo and Juliet is an extremely well-known play written by William Shakespeare in the late 1590s. It is a story about an ancient rivalry between two wealthy families which is defied by two teenage star-crossed lovers who tragically die. The play was set in the Elizabethan era in Verona Italy. Despite that the play was written four hundred years ago it continues to capture the imaginations of teenagers in the 21st century, and the themes within the play are still seen in modern culture. These themes include infatuation, emotional extremity and rebellion. Romeo and Juliet is the most famous love story in English literature history, infatuation is naturally the play’s foremost and most significant theme as Romeo and Juliet become infatuated with each other in an impossible situation. Romeo and his friends have crashed the Capulet’s party and Romeo has just laid eyes on Juliet, Romeo says â€Å"O, she doth teach the torches to burn bright! It seems she hangs upon the cheek of night like a rich jewel in an Ethiopia’s ear; Shakespeare’s use of metaphor â€Å"O, she doth teach the torches to burn bright! † (1. 5. 2) reflects Romeo’s extreme infatuation with Juliet as he idolises her, Romeo is saying how beautiful and glowing Juliet is by comparing her to the stars. The love between Romeo and Juliet can come across as immature and impulsive which is why it is also known as infatuation. Teenagers in the 21st century still have these impulsive emotions which cause them to make immature decisions which aren’t thought through clearly with all the outcomes considered; examples of these impulsive actions are sexting, and having an un-committed sexual relationship. Romeo’s wild emotions majorly impact those directly around him, especially Juliet. Romeo’s emotions are always very intense and usually change quite quickly without much thought to the previous matter which caused his emotions to go wild in the first place. Juliet is impacted by these extreme emotions as seen later in the play that Juliet’s level headedness is thrown out the window and quickly replaced with similar intense emotions just like Romeo. These emotions are seen commonly among teenagers now days, due to raging hormones and increasing pressure from other substantial causes, irrational mood swings and impulsive decisions

Is Quantitative Easing useful to Stimulate the UK economy

Is Quantitative Easing useful to Stimulate the UK economy Abstract After the global financial crisis took place in late 2008, quantitative easing started to be considered as a potential solution to the recession all over the world. Usually, governments used to regulate key interest rates to achieve the goal of modifying underperforming economics, but this no longer seems to be competent because interest rate cutting may not be a sufficient measure to bring the world economy back on track. Therefore, quantitative easing policy is adopted to adjust the circulation of money in the economy. The project sets out to analyze whether the quantitative easing policy is suitable for the economic situation in the UK. The conclusion drawn by this essay is that quantitative easing policy is not a proper solution to UKs economy and that more attention should be paid concerning its implementation in this systematically incomplete situation. Contents Abstract 3 Contents 4 List of Figures 5 Introduction 1 1.Quantitative Easing Policy in the U.K. 2 2.Disadvantages of Quantitative Easing 3 3.Advantages of Quantitative Easing 7 4.Argument 10 5.Evidences 12 Conclusion 16 References 17 List of Figures Figure 1: UK Money multiplier 5 Figure 2: The Trend of GBP/USD Since 2005 6 Figure 3: UK 10-year Government Bond Yield (%) 14 Figure 4: Growth rate of M4 from Bank of England 15 Introduction Quantitative easing (QE) designates an application of monetary policy used to stimulate the economy. In other words, quantitative easing can be defined as an economic policy that uses an expansion of the money supply to purchase assets (Meier 2009). Normally, the central bank of a country provides extra capital to ease pressure on banks by putting huge amount of money into markets to buy back bonds or gilts either from banks or commercial sectors. Quantitative easing offers two possible benefits. First, the volume of lending of banks will increase as banks have more cash in exchange for bonds or gilts with the government. The other benefit is that diminishing the supply of gilts will increase the price of gilts. Consequently, the gilt yields decrease, and further, long-term interest rate for overdraft and some mortgage decreases as well (Elliott 2009). In 2009 March, the UK government announced a plan that the government would implement quantitative easing and set the bank rate at 0.5% in order to meet the inflation target of 2% and would stimulate the economy by increasing spending. Mitigation of the bank rate can greatly stimulate the economy. If the rate further approaches zero reduction, it may be less effective. Besides, injecting more money directly into the market by purchasing assets can also boost the economy. Moreover, Krugman (1998) states that the money supply is not the only factor that contributes to long-term inflation. However, others argue that monetary oversupply will lead to high inflation and countries will fall into a financial trap. The aim of this essay is to demonstrate opinions based on the current literature encompassing both sides of the subject, to enrich it with its momentary effects on the British economy and then finally to give an assessment of the subject. Quantitative Easing Policy in the U.K. During the economic recession in 2008, UK interest rates were at the lowest level (0.5%) in the Bank of Englands 315-year history. The reason why the Bank conducted a series of interest rate cuts was that it aimed to encourage the commercial banks to lend again. However, the aim was not achieved. Even though the interest rate was quite low, the economy remained stagnant and the consumer spending remained flat. The British government decided to apply the same policy to drag them out of the recession. The first plan was announced in March 2009, stating that  £75bn would be made available to purchase government bonds and corporate debt during the following three months in order to provide liquidity in the economy. This raised the concern about the consequence of quantitative easing in the U.K. The argument can be generally divided into two divisions. One division believes that printing money will lead to high inflation in years to come, while the other argues that the economic situation is more likely to follow the example of Japan in the 1990s. It is evident that both arguments have reasonable points. Nevertheless, according to the data obtained, UK will probably suffer from inflation in years to come. Firstly, in theory, quantitative easing itself is an aggressive policy due to the fact that it increases the size of the money base in the economy and a large money base is usually regarded as the cause of inflation. However, some economists argue that the policy is not simply printing money. Germany and Zimbabwe did in the 1920s (BBC), it still considerably increases the central banks balance sheet and the monetary base. In addition, there is not a standard to assess the accurate and appropriate amount of money to be injected into the market and hence it is highly difficult to decide the amount of quantitative easing, and if the amount decided is larger than the market actually needs, high inflation may inevitably occur. As is indicated by Jason Simpson from the Royal Bank of Scotland (BBC), inflation is considerably stronger than the bank had expected and there are concerns that it wont get back within target if QE continued. Secondly, in reality, as is measured by the Office of National Statistics, there is currently an upward pressure on CPI (Consumer Price Index) (an index of the cost of all goods and services to a typical consumer) annual inflation. The CPI annual inflation was 3.4 percent in March 2010, which is far beyond the initial aim of quantitative easing policy-to increase the inflation rate to 2 percent. In February, the rate was 3 percent, while Europes inflation rate as a whole was only 1.4 percent (Office of National Statistics 2010). Considering these issues, there is no evidence to demonstrate that the rapid increase in the CPI annual inflation rate is not a consequence of quantitative easing policy. Disadvantages of Quantitative Easing It seems that conducting Quantitative Easing policy by raising the monetary base in the United Kingdom can effectively stimulate the investment market and help recover the economy. Generally, one of the basic formulas of monetary policy is MV=PQ (M is the stock of broad money, V is the velocity of circulation, P is the aggregate price level of commodities, and Q is the economic quantity) and we usually assume M as a multiple of the monetary base as well (Ellis 2009 and Haung 2009). On the base of QE, policy-makers expect to enlarge the nominal spending (PQ) in UK economy. However, several potential problems still exist and there are uncertainties behind this policy. First of all, there is a distinct possibility of exam deflation becoming a consequence (Haung 2008). Adopting quantitative easing during recent financial crisis should cause a significant rise in P; in other words, the increase of M and decrease in Q will lead to a climbing in P theoretically. At the same time, nonetheless, V plunges because of the credit risk which indicates that banks have no money for lending or that they are reluctant to lend money to borrowers; therefore, it leads to a drop of P as well (Haung 2008). As a whole, the future price is decided by the rate of money which depends on peoples confidence. If people have strong tendency toward saving or banks are still afraid of lending money to investors, the monetary velocity will not improve after recession. And this may cause deflation. For example, the Japanese government carried on a quantitative easing program after the recession in 90s, while their perspective on saving let people become more risk-averse and unwil ling to invest. Hence, Japan faced with a serious deflation and lower exchange rate which did not promote the general social situation. Furthermore, Ellis (2009) put forward the idea that a high unemployment rate and the chance of deflation forces people to shift their demand from increasing expense and investment to saving. On the other hand, it may lead to severe inflation (Bullard 2010). Bullard, the president and the CEO of the Federal Reserve Bank of St. Louis, argued that if government does not control the monetary velocity well after the implement of the quantitative easing policy, the increase in money supply will result in an undesirably large acceleration of credit and then an undesirably large increase in inflation. Consequently, it is difficult to deliberate and predict the extent of quantitative easing which may incur deflation or inflation easily (Bullard 2010). Second, it is unsure that this extra money will be used by businesses and households (Ellis 2009). In figure 1, Ellis (2009) illustrated that the money multiplier (Money multiplier is the relationship between broad money as well as money base) reduced considerably during last few years which may not reach the fixed goal of quantitative easing, although the Bank of England believed that a large increase in demand will come along through only a small rise in the supply of money (Ellis 2009). Source from: Bank of England and Elliss calculations Figure 1: UK Money multiplier He also claimed that banks using new money to purchase new financial assets may have less influence on increasing broad money; in contrast, those banks tended to restructure their financial foundation and then they were reluctant to lend money after boosting their investment activity. As a result, quantitative easing policy may not indeed generate predicted commercial and domestic spending. Finally, the increase of money supply may result from foreign investors because of the weaker sterling and the arbitrage on financial assets (Ellis 2009). Figure 2 shows the variation of the exchange rate (The vertical illustrates the value of the British Pound against the US dollar). Source from: Reuters UK, April, 2010. Figure 2: The Trend of GBP/USD Since 2005 Sterling has become weaker since the sub-prime crisis in 2008. In other words, investors may be more willing to hold cash by selling their new financial assets. It is because that when banks invest more financial securities with new money, those stock prices will go up slightly and offer an opportunity for earning a short term advantage (Ellis 2009). Moreover, Ellis (2009) demonstrated that foreign investors will have the tendency to sell the securities in order to transfer to the alternative currencies if sterling is still relative weak. Thus, a great money supply indeed boosts the UK economy; nevertheless, it is not mainly from the higher households and business activities spending. Instead, it may come from the spending by foreigners who earn new cash from securities as well as from the weaker sterling. Advantages of Quantitative Easing According to Orphanides and Wieland (2000), central banks normally prefer to use an interest rate rather than a monetary quantity as operating target. Interest rates are considered much easier to observe and to control on a continuous basis than monetary policy. However, when the interest rate is in a near-zero level, the quantity of base money remains available as a tool for gauging the extent of monetary easing. The way to do this is for the central bank to buy assets in exchange for money. In theory, any assets can be bought from anybody. In practice, the focus of quantitative easing is on buying securities, such as government debt, mortgage-backed securities or even equities from banks. Firstly, the bank creates new money electronically in its accounts. Then the bank buys bonds (companies IOUs) and gilts (Government IOUs) from commercial banks. The value of the bonds and gilts bought is now credited to banks that sold them. The commercial banks can make new loans against the increased funding. Extra lending boosts cash and credit flowing in the economy. Extra demand for bonds and gilts from the bank drives down interest rates for business and consumer borrowers. As a result, flows of extra and cheaper money stimulate growth. There are some possible effects of quantitative easing according to the macroeconomic theory. Firstly, in theory, it could reduce cost of capital of the whole economy by bringing down the interest rate (Pankiw 2009). As through QE, the Bank of England (BoE) will lower the government yield as buying government bond from non-bank sector. Thus investors could prefer riskier investment elsewhere in order to get higher return, such as corporate bonds, loans, commercial paper and equities. As a result, the yields on these assets would also be expected to fall. Secondly, QE is able to improve the capital positions of banks (Pankiw 2009). Whatever money does not go into either financial or real economic investment will find its way into deposits at commercial banks. This should help improve banks funding positions and, in theory, make them more comfortable with devoting capital to lending. Furthermore, it is evidenced that QE can stimulate growth in the money supply to the real economy (Pankiw 2009). As Treasuries start lending to the non-financial corporate sector, confidence becomes stable. By pumping into the real economy, the money created through QE is considered to be able to drive the economic recovery forward. In addition, it is argued that monetary policies could have additional effects on the economy, via so-called credit channel, because interest-rate decisions affect the cost and availability of credit (Iordache 2009). The credit channel contains the balance-sheet channel and the bank-lending channel (Bernanke and Gertler 1995). According to the Pure Expectations Theory, it asserts that the forward rates exclusively represent the expected future rates which mean that the entire term structure reflects the markets expectations of future short-term rates. As it experiences an upward slope of yield curve currently, investors are pricing an increasing level of inflation and subsequently a change in Feds monetary policy (Iordache 2009). As known in theory, the central bank should continue expanding its balance sheet to eventually reduce the yield. Therefore the low level of the interest rates at the moment and the QE program will pick up the economy by strengthening the consumer spending. A s the expectation improved, it will increase the aggregate demand and then reduce the unemployment rate. Finally, the increase in asset price boosts the wealth and improves the balance sheet. It is reported that Quantitative Easing helps to work around the blockage created by a banking system that is still undergoing a process of balance sheet repair (Bean 2009). Argument Even though implementing quantitative easing provides numerous advantages to the economy, its safety is far from certain. Despite providing benefits, this monetary policy can sometimes have side-effects, such as high inflation or deflation as mentioned above. Quantitative easing is not always coming alone with advantages. For instance, some people assert that cost of capital can be decreased through low long-term interest rate. Yet, it is also argued that the attempt of reduction of long-term interest rate will only be effective under certain circumstances (Bernanke and Reinhart 2004). In U.S experience, it is unlikely to have significant impact on risk premiums if it only alters relative assets, because assets are close substitutes (Reinhart and Sack 2000). Therefore, the cost of capital will be lower only if investors expectation of future values of the policy rate is consistent with the target prices of assets (Bernanke and Reinhart 2004). Furthermore, Eggertston and Woodfords (2003) model demonstrates that long-term interest rate will not be affected by the purchase of long-term securities if investors do not change anticipation about future interest rate levels. Furthermore, the Guardian (2009) also points out that one of possible scenarios is that investors dump gilts, which increases long-term interest rate and gives burdens to fixed-interest mortgage and company loan. Consequently, it is reasonable to refer that quantitative easing is not always effective on giving low cost of capital. In addition, it is pointed out that the utility of central banks monetary policy will maximise if the policies are coordinated with central governments financial department. This is due to the fact that it has to be ensured that changes in debt-management policy will not contradict to the attempts of central banks to affect the relative supplies of securities (Bernanke and Reinhart 2004). Besides, it is also believed that quantitative easing enables bank to lend more. However, according to an empirical research of Kobayashi et al. (2006), the overall bank lending was decreasing during the period of quantitative easing in Japan. Thus, the accuracy of the statement is uncertain. Evidences Usually, central banks tend to cut down interest rates in order to encourage households to spend more money. However, once interest rates levels cannot go lower, the injection of money directly in the economy is the only remaining alternative. The Monetary Policy Committee (MPC) had to decide a monetary policy in accordance with the government inflation target which has been fixed at 2% in Great Britain. The supply of money has been then considered as a necessity to sustain the general economic growth while, however, avoiding an excess of it to avoid hyperinflation. After lowering again the interest rate to 0.5%, its lowest level since the creation of the Central Bank, the Bank of England started the quantitative easing program. This procedure, which was launched in March 2009, has been extended to reach in February 2010 an amount  £200 billion, to pull the UK out of the recession. With the permission of the Treasury, the Bank of England purchased  £200 billion of assets from which  £197.275 million was spent on UK bonds and the rest on corporate papers. Some on the MPC including the banks chief economist, Spencer Dale, and one of the external members, Andrew Sentance have signalled their belief that it is now time for the bank to adopt a wait-and-see approach to QE (Oxlade, 2010). The Bank of Englands efforts have worked in as much as they have very probably pushed down yields on gilts below where they would otherwise be. That has helped reduce the broad cost of borrowing. Yields on ten-year gilts dropped to 3% earlier in the year but have more recently climbed close to 4% and stabilised around this level (Figure 3 on page 14). The increase of the price of bonds reduces their yield, and in effect the interest rate. As interest rates across the economy are set in relation to gilt yields, quantitative easing can act as an extra lever pushing down borrowing costs. But there is a longer term danger by speculating about the debt markets. The government risks creating a bubble in bonds, which will break in a few years time once the economy will recover, building up interest rates and making the governments massive debt concern extremely costly to service (Oxlade, 2010). Source from Bank of England Figure 3: UK 10-year Government Bond Yield (%) However, the aim was also to get credit flowing again in the broad economy and then to launch spending in the British economy. From this point of view, the success of this policy tends to be limited. The money supply in the UK economy is considered as being the best measure of success. The Bank of England measures this as M4 (Figure 4 on page 15). This figure shows some improvements but only marginal and only in the last few months, concerning the 3 months annualised growth rate. However, the general trend of the M4 aggregate reminds downward trend. Source from Bank of England Figure 4: Growth rate of M4 from Bank of England The huge concern is that banks and insurers, rather than letting the conceeded money flow into the economy, prefer to credit it away to help improve their balance sheets and then financial solvency, particularly given that a second economic crash is still possible in this difficult context depicted by weak levels of the global economy financial aggregates. The largest danger is the creation of inflation. One of the QE program aims is to stop the UK falling into a deflationary trend. The injection of money in the economy creates inflation. To increase inflation to a certain level would be a good thing, a lot would be very dangerous, especially if the economy fails to recover and then fall in a stagflation period which could destroy a part of the countrys wealth. A bit of inflation would be helpful in reducing the cost of debts, particularly because Britain faces a record consumer debt of more than  £1.4 trillion and a national debt of officially  £825 billion (more than  £2.2 trillion once all liabilities are taken into account) (Seager, 2010 and Bank of England, 2010). Indeed, rising prices will make debts smaller. Legendary Warren Buffett has raised concerns that policy-makers may become addicted to creating inflation as a way of combating their debt problems (Lowery, 2010). Members of the MPC have signalled the halt of the quantitative easing program but could -and we consider have great chances- resume it when they consider that it is necessary. In this case, it still unclear whether the Bank will continue buying gilts or shift to buy corporate bonds, which may have a more immediate effect. However, such a decision could increase tensions between the bank and the treasury buying gilts makes it cheaper for the government to borrow money, which is crucial at a time when the volume of public debt is extremly high. If the economy continues to struggle to reach a confortable level of recovery, more QE could be expected and even become a permanent component in the U.K. It is important to consider that since QE effects are pretty much untested it is unclear what other side-effects may be caused. Conclusion By making comparison between the advantages and the disadvantages of QE, it can be concluded that QE is not suited to the situation in the UK at present. Although the economic situation after undertaking quantitative easing policy in the U.K. has been stabilised temporarily at least, as discussed earlier, the appropriate time length and money injection volume are uncertain. Moreover, according to the new statements issued in Britain, the bank is phasing out the policy. Hence, it is clear that it has been realized the quantitative easing, as an aggressive policy, can cause a high risk of inflation years to come. In conclusion, the negative impacts of conducting quantitative easing in the U.K. far outweigh its economic benefits. Although quantitative easing boosts the economy by reducing capital cost and improving monetary currency, it still needs deliberate control by relative departments such as the Central Bank and The Treasury. Otherwise, it may result in high inflation or deflation, even cause asset bubbles and depreciation of sterling. Quantitative easing has been considered as being the last resort solution to stimulate the economy and to kick-start growth after the systemic failure endured by the global economy. In the short term this measure certainly increases investors confidence but in the long term structural deficiencies of Britain, especially on the domestic credit market, it will fail to promote real financial stability. As a whole, quantitative easing policy is not proper to the U.K. and more attention should be paid concerning its implementation in this systematically defici ent context.

The Influence on the Beatles on American Culture Essay -- The British

The Beatles were more than their music. They influenced the lives of millions of people unlike any musicians before them. They were the first and most popular band in one of the most important music movements in American history, the British Invasion. The year 1964 was the year both the British Invasion and â€Å"Beatlemania† came to America and forever changed the landscape of music in the United States by introducing the genre of pop, as it is today. The Beatles changed the rules of music. Many things that are considered normal now were pioneered by the Beatles such as: creating compilation albums, expressing their views on world happenings through the media, musicians in movies, and even mass media advertising. The beatles influenced American culture more than any other musical artist in history (Holmes, 2012). Prior to the Beatles’ arrival to the United States in 1964, American society was in a valley of negativity. The following were some of the big headlines the American people had to endure: President John F. Kennedy, one of the most popular presidents ever, was assassinated in November of 1963. President Lyndon B. Johnson was increasing U.S. involvement in Vietnam, which was also creating tax increases, all despite the protests of millions of Americans. Policemen on national television were beating Martin Luther King Jr.’s followers. All of this negative publicity surrounding the American public had the people, especially the youth, needing something to take their mind off of the depression going on all around them. â€Å"The Beatles – with their cheeky wit and catchy, upbeat pop songs – proved to be the perfect anecdote for America’s collective depression† (Harry, 2004). Luckily for the American public and... .... "The Beatles." City Portal Liverpool. N.p., n.d. Web. 17 May 2015. . A Brief History "The Beatles: It Was 40 Years Ago That They Began to Play." News Center. Richard Aquila, n.d. Web. 17 May 2015. . "The Beatles: Most Influential Band of All Time." Hub Pages. N.p., 4 May 2012. Web. 15 May 2015. "The British Invasion." Survey of American Popular Music. Mus273, n.d. Web. 17 May 2015. . "History of The Beatles." Beatle Tribute Bands. @lphaENTERTAINMENT, 2007. Web. 17 May 2015. .

The Skeletal System Essay examples -- Basic Pathology

The skeletal system includes the osseous tissues of the body and the connective tissues that stabilize or interconnect the individual bones. The bone is a dynamic tissue. Throughout the lifespan, bone adjusts to the physiologic and mechanical demands placed on it by the processes of growth and remodeling. Bone serves the organism at multiple levels: As a system, bones permit the organism to locomote effectively and to maintain posture by bearing loads without deformation, by providing rigid attachment sites for muscles and acting as a system of levers to amplify small movements. As an organ, bones protect the viscera and house the hemopoietic tissue (red marrow). As a tissue, bones serve as a reservoir of readily mobilizable calcium, an ion vital for many metabolic processes including cell motility, excitability, secretion, phagocytosis, intermediary metabolism, respiration, and reproduction. Bones (or osseous material) serve a number of diverse purposes in the human anatomy. In addition to providing structure, leverage, protection, and support for the organs of the body, bones also house marrow, which produces blood cells. Within the bones are also stored the calcium deposits which the body may access, via resorption, when needed. Additionally, bones detoxify the system, by removing heavy metals, such as lead and arsenic, as well as other toxins, from the bloodstream. The skeletal system provides structural support for the entire body. Individual bones or groups of bones provide a framework for the attachment of soft tissue and organs. Delicate tissues and organs are often surrounded by skeletal elements. The ribs protect the heart and lungs, the skull encloses the brain, the vertebrae shield the spinal cord, and the pelvis ... ...& J.W. Heath, Wheater ¡Ã‚ ¦s functional Histology, 4th edition, Churchill-Livingstone, New York, 2000, pp. 175-192. Johnson, Michael D. Human Biology: Concepts and Current Issues, Benjamin Cummings, San Francisco, 2001. Khosla, S., Kumar, V., Ramzi, S.C., Robbins, S.L. 1992. Basic Pathology, 5th edition. Philadelphia: W.B. Saunders Co. Manolagas, Starvros C. 2000. Birth and Death of Bone Cells: Basic Regulatory Mechanisms and Implications for the Pathogenesis and Treatment of Oteoporosis, Endocrine Reviews, 21(2): 115-137. Martin, B. 1993. Aging and strength of bone as a structural material, Calcified Tissue International, 53 (suppl.): S34-S40. Martini, Frederic. Fundamentals of Anatomy and Physiology, Prentice Hall, New Jersey, 1989. Raisz, Lawrence G. 1999. Physiology and Pathophysiology of Bone Remodeling, Clinical Chemistry, 45:8(B): 1353-1358.

Teenage Fashion

General subject: Fashion Limited subject: Teenage fashion in winter Thesis statement: There are different ways, the piece of fabric, called the scarf or muffler can be of such importance when it comes to teenager’s fashion especially in winter.Supporting points:1. Scarves or mufflers are never out of fashion. 2. It can be purchased at a very reasonable price and it’s efficient and it keeps the body warm in winter. 3. Scarves or mufflers go with any outfits teenagers wear.Conclusion: Although scarves or mufflers play a very important part in teenager’s fashion in winter, teenagers face competitions and usually get left out.Teenage Fashion in WinterThere are different ways, the piece of fabric, called the scarf or muffler can be of such importance when it comes to teenager’s fashion especially in winter. Winter brings the cold chilly air of excitement that seeps through teenager’s undying will of bringing unique trendy fashion in style. Scarves or muf flers are never out of fashion. This is specifically very important since no teenager wants to wear anything remotely out of fashion. Every year or season fashion keeps on changing but scarves have never been out of fashion. Teenagers of both the genders love to wear scarves. There are so many different patterns imprinted on them that boys as well as girls can have their favorite pick to go with any of their dress ups.The slightly thick scarves, known as mufflers, which are woolly and soft make it wrap fashionably perfectly around the neck and shoulders. When winter’s right round the corner, the streets or the local market or super malls will be filled with scarves and mufflers of all sorts. It’s very convenient for teenagers since it’s never out of fashion and they never have to look far to buy a scarf. It can be purchased  at a very reasonable price and it’s efficient and it keeps the body warm in winter. These scarves and mufflers can be found anywhe re and they can be bought with a good price or even cheaper. This is important since teenagers have to consider the amount of limited money or allowance they have in their pockets. It’s efficient to carry around as well.They can be easily folded and put in the bag. Scarves and mufflers are very comforting too in winter. It keeps the wind off the chest and neck. Teenagers are always on the go, going here and there, so the scarves or mufflers become a protective shield from the cold harsh winter wind. Scarves or mufflers go with any outfits teenagers wear. It can be worn round the head or tied with a knot round the neck or simply wrapped around the shoulders. It can help give off an elegant look by wearing with a gown or a dress. Teenage Boys can wear it instead of a tie even with formal dresses like the suit or t-shirts. But teenagers of the masculine side usually tend to look casual and neat at the same time which makes the mufflers or scarves a very important attire. The unb uttoned t-shirt trend was out of fashion thanks to the scarves.Teenage girls can choose to wear it at a party or a family dinner, or at a restaurant. It can go with tops and jeans or with a skirt or salwar kameez or coat or even suits. Depending on how it’s worn, it can be twirled in a huge bundle round the neck to give off a heavy posh look or it can be casually tied with a knot to give off a light carefree look. The different types of style you can do with scarves are endless and that’s why teenagers love it. Although scarves or mufflers play a very important part in teenager’s fashion in winter, teenagers face competitions and usually get left out. Many teenagers try to catch up with the trend but some people are always left behind. Then there is the problem with competitions among the teens, they aren’t satisfied unless they look better than the rest of the crowd. So, these teenagers might tend to avoid scarves just to look more unique among their fel low peers.