Working capital management - a business organizations success Essay

Working capital management - a business organizations success - Essay Example Working capital management is essential for a business organization's success and even mere survival. By focusing in this aspect, companies are able to ensure sufficient cash flow in order to settle maturing short term obligations and finance expected operational expenses (McClure 2008). Without efficient techniques in managing working capital, a company can show profitability but might be illiquid to settle its current liabilities thereby jeopardizing its relationship with creditors. Working capital management also covers the efficient collection of accounts receivable and sale of inventory in order to generate cash. The better the company manages working capital, the less money it needs to borrow. Holding excessive cash is also seen as inefficient because it can be used for investment which maximizes shareholder wealth. One of the best examples of companies which benefits from focusing on working capital management is computer giant Dell, Inc. The company's success can be directly attributed to its efficient inventory management system which eliminates excessive production. In contrast with typical manufacturers, Dell's production is tied up with customer demand enabling it to get rid of inventory holding cost.

Ethical Impacts of the Internet on Children and Teenagers Essay Example for Free

Ethical Impacts of the Internet on Children and Teenagers Essay As the use of internet dominates every activity in the global market, its use in homes and schools has exponentially grown raising concern on its ethical effect on children and teenagers. The nature of the youngsters’ use of internet has generated heat and anxiety among the general public as the society calls for ethical and moral guidelines that would protect children and teenagers from negative effect of the internet. This paper proposes a research that will identify the effect of internet use among the young people as the academic and policy importance concerning the opportunities and dangers of internet use continue to be raised. The paper identifies these opportunities and dangers as it proposes the methodology and limitations for the research paper. 2. 0 Introduction 2. 1 Background Internet which slowly started as a network for military officers in the cold war eventually became an important tool in the academic corridors and today the former â€Å"Arpanet† has greatly grown to become the primary platform for communication and interaction for different communities around the world. As the Internet traffic hit millions of users each day the communication technology continue to grow to allow for infinite information access and instant interaction by users, a fact that has brought about a social paradigm shift in the way societies used to live in the earlier days. This technology has particularly been embraced by children and teenagers as a way of learning, socializing and leisure. In the developed countries and many other regions around the word, internet access has ceased to being a trademark for the privileged members of the society as its use in the workplace, education institutions and leisure places continue to grow exponentially. As the use of computers and internet become more and more entrenched in our day to day routine practices, it has become a basic feature not only in the offices but also at our homes. The presence of internet at our homes has opened up a â€Å"super highway† to children and teenagers who are being referred to as the â€Å"digital generation† that incidentally predisposes them to overwhelming information and social sites that may contribute heavily in shaping their behavioural patterns. Whereas internet offers a perfect educational platform for the young people, it is also seen largely as a risk factor that could expose them to adult sites, make them more addicted and dependant on the internet and eventually instil anti-social behaviour in some of them. While this issue demands a critical stance given the consequences it has on the future generation, very little independent researches has been conducted to inform the policy makers and end the growing public anxiety. In most of the researches conducted in the recent past only a few have focused on the social consequences of the internet among the children and teenagers. The households with children or/and teenagers that have access to the internet is however more common than those without (Wigley and Clacke, 2000). 2. 2 Research Objectives The main objective of the proposed research project is to explore the impact of the internet on children and teenagers based on the expected social, cognitive and behavioural patterns in the society. The research project will aim at identifying issues that deviate from the laid down expectations both at school, home and in the society which find their root from the internet. 2. 3 Research Question The proposed paper will focus on answering the following primary question; †¢ What are the ethical impact on the use of internet among the children and teenagers? To effectively explore the primary research question the following secondary questions will be analyzed? †¢ What are the children/teenagers perceptions towards internet? †¢ What are the perceptions of the parents whose children are using internet at home or/and school? †¢ What are the important contrasts in internet activities from what is expected to what is actually practised? †¢ What are the possible impacts of these struggles between the theoretical and practical internet activities on children/teenagers’ social development? 2. 4 Research Significance A study conducted in the UK by Wigley and Clacke (2000), revealed that among the young people aged between 7 and 16 years, 75% of them have used the internet as compared to only 38% from the adult population. This explains that in the contemporary society the young are actually the pioneers of the internet culture. For a long time children and teenagers have also been regarded as a special homogenous object in other studies a fact that has made this category of population marginalised and often left out in researches on the internet. Even in the midst of growing researches on e-commerce and e-democracy very little efforts are focusing on the expanding online market driven by the young people. For these reasons children and teenagers are often left out in technological advancement as the market analysis is evaluated. As the social effects of internet on the young people become obvious in most societies it is becoming more difficult to ignore the subject and therefore many empirical projects on children and teenagers use of the internet are coming up. This makes it appropriate moment in which the research agenda on this category of population must be given priority. 3. 0 Literature Review 3. 1 Nature of Internet Usage Recent surveys reveal that children and teenagers attach high value to the usage of internet to gather information, entertainment leisure and as a medium of communication. According to Valkenburg and Soeters (2001), 73% of the children and teenagers use internet as an education tool, 59% use it for E-mails, 38% to play games, 32% for chatting with friends and 31% use internet as a hobby and an area of interest. The internet has already revolutionized the social patterns of our younger population drastically changing the earlier forms of communication and interaction among the peers. A research conducted by Valkenburg and Soeters (2001), indicates that among most households internet has continued to elicit mixed reaction between the parents and their young ones as it is considered to easily lead the young toward the wrong direction if mismanaged or taken for granted. While the parents praise the internet for its role in availing most of the information that their children would need in pursuit of their education, the children consider the opportunity more as a source of entertainment that gives them a break from the other â€Å"old fashioned† entertainment sources. The tug of war between the parents and children demonstrates an obvious digital generation gap in which children and teenagers who normally acquire and understand new internet skills faster than their parents get transformed into â€Å"family tutors†. The expertise in computer and internet skills among the children gives them a symbolic advantage over their parents that can easily be mis-used in pushing their interests that could not necessarily be approved by their parents. The current researches on the social context in which internet is focusing more in identifying ways and means in which children and teenagers are changing their homes into centres for content production, entertainment and leisure. This fact has in essence brought about new approaches in children’s activities as questions linger on whether learning has become more fun, playing is turning more and more educational and whether online chatting is part of civic participation or a way of withdrawal from the general society. This kind of researches therefore calls for the need to analyse the online content that is most preferred by children and teenagers. This raises a challenge given the large volume of online contents from which one can choose from and the fact that the hypertext content can be actualized by the user. This has in effect discouraged most of the researchers carrying out studies on the impact of internet on children and teenagers. Most of the researches today are however guided by the policy issues that are endeavouring in trying to balance the benefits that the internet offers to the young population against the harm that may be associated with some of the sites. Therefore the key agenda is on how the society in general should ethically conceptualize and balance the benefits and the dangers of the internet on the children and teenagers within there spheres of influence.

Stalingrad :: essays research papers

The attack came as a complete surprise to the leader of the Soviet Union, Joseph Stalin. Despite repeated intelligence warnings, which included the precise day and hour of Germany's incipient assault, Stalin remained convinced that Hitler would not risk an eastern war as long as the British Empire remained undefeated. It has been argued that Stalin in fact planned a pre-emptive attack on Germany for the early summer of 1941, and was then thrown off-balance by the German invasion. 'For two years Soviet forces pushed the German army back into Germany ...' The evidence makes clear the defensive posture of the Soviet Union in 1941. Stalin did not want to risk war, though he hoped to profit from the German-British struggle if he could. In the event, the shock of attack almost unhinged the Soviet state, and by the autumn German forces had destroyed most of the Red Army and the Russian air force, surrounded and besieged Leningrad - where over one million people died of starvation and cold - and were approaching the outskirts of Moscow. The Red Army had sufficient reserves to stop the German army from completing the rout in December 1941, but the following summer German offensives launched far to the south of Moscow, to seize the rich oilfields of the Caucasus and to cut the Volga shipping route, created further chaos. Hitler hoped that German forces would capture the oil and sweep on through the Middle East to meet up with Axis forces in Egypt. The Volga was to be blocked at Stalingrad, after which German forces could wheel northwards to outflank Moscow and the Soviet line. The southern attack failed at Stalingrad. After weeks of chaotic retreats and easy German victories, the Red Army solidified its defence and against all the odds clung on to the battered city. In November 1942 Operation Uranus was launched by the Soviets, and the German Sixth Army at Stalingrad was encircled. Some historians have seen this as the turning point of the war.

Racial Preference Essay

In this article, Whites Swim in Racial Preference, Tim Wise discusses the racial inequality in our society. As a whole, we want to believe that our culture is fair and just in racial terms. We would like to believe racial preference is a thing of the past, however, it is very much current. Discrimination has existed for decades but I believe that African-Americans got the bitter end of the stick. In the 1960’s, black people got treated like they weren’t even human beings. â€Å"A full time black male worker in 2003 makes less in real dollar terms than similar white men were earning in 1967.† (Wise, 2003) Obviously, the racial preference has not faded so much as society would like to believe. African-Americans struggled when it came to trying to take care of their family and becoming a citizen. The inequality seemed as if it was becoming norm in the 60’s. Blacks weren’t even given the chance to prove themselves, simply because their complexion was a little darker than whites. As stated in the article, whites have much more of an advantage when it comes to today’s culture. Whites are given more opportunities in life, which in return leads them to be more successful. Tim Wise used the example of University of Michigan providing 20 additional points to students with low-income families regardless of race. Seems fair, right? It seems fair until you total it all up and in the end whites are the ones with more points. It isn’t even given a second thought because whites were raised to believe that their accomplishments are because of their actions and not because they grew up in a system that was set up for them to achieve in. Yes, Affirmative Action happened, but in the end it still benefitted whites more than any other race. Races such as Arabs and Muslims get looked down upon ever since 9/11 and that lessens their success in society. Blacks get perceived as dangerous and reckless. Whites still have the upper leg in many things in society such as politics and jobs.

Research Reflection

If I had one Job to choose in this world it would be a veterinarian specializing in equine. When I was little this was what I knew I wanted to grow up and do, even knowing I would have to go to school for what seemed to be forever to receive my doctorate. Since before I was walking I was riding horses, which lead into the rodeo route when I turned eleven and was the main focus point my whole life and if there's passion I had, it was rodeo.The environment and passion rodeo provided me made me want to become a vet so much more; I wanted to know everything possible. When I was about sixteen is when I realized how much I wanted to pursue being a veterinarian. I was on the rodeo road hard core at this point in my life, it even took me out of normal high school to be home schooled while on the road. My main horse was getting hurt on a regular basis which led me to develop a close relationship with a vet who was an equine specialist.When you're a vet you can work for yourself and if it is s omething you enjoy and want to have the knowledge and willingness to learn, you will be successful by the knowledge and the fact that people will trust you with their animals that they hold lose to their hearts. The hours may be long and tiring but when you enjoy your work the hours don't seem as long as they are. When someone puts their trust into you, you appreciate that and don't want to let them down. Its not Just an animal to people, it's like a child and for some people they can have up to half a million dollars invested.The work environment is so amazing as you are inside and outside helping what you love, for me its horses. When you walk into the office to advise you're there for your appointment your greeting with smiling faces to make you comfortable owing you're in good hands. You have places to unload and place your horses while your waiting so they are not uncomfortable if they are in pain or sick. My goals in this role of life would first to be to finish school top in the class showing the knowledge and education provided to me.I would want to have an internship with a well-known and trusted equine vet to establish and create the knowledge of someone who has been in the business and established. I would want to open my own business after I have created a small knowledge for the customers for myself. Once my business was opened I would want to have another veterinarian on board to handle the over boarding of many customers and emergency services for patients. I would want to create and share knowledge with customers and establish for the long run of the work place.I would want to be trusted and a well-known place to go when you're in need of any help with your equine. My interest were much conformed into a lot of different major categories, unfortunately my dream Job of a veterinarian was not on there. The closest thing to my interest would be animal caretaker. With my dream major not being listed, it Just wows me that my interest are more geared to creating of animals. The education level needed for an animal caretaker is only a high school diploma and previous work experience. The annual salary is only about $21 ,OHO.O which is another reason to me that sometimes the things you enjoy Just are not good ideas for the economy the way it is. Currently before completing my education that is less than half of my annual salary. My prior knowledge I was very well aware that unless you can struggle, or make it through school you cannot follow your heart to a small time Job that satisfied our needs; when it is that situation makes that your hobby not career. Parker, Heather M. â€Å"CUFF. Org – Interest Profiler. † CUFF. Org – Interest Profiler. College Foundation, 14 July 2014. Web. 4 July 2014 My dream Job of a vet compared to an animal caretaker differs in a few different ways from the salary to structure. The salaries vary greatly from a five figure annual salary to up to six. The Job satisfaction would be t he same but as an animal caretaker you will not be able to provide care to heal or verify an illness. You will not have the same petition and the status in the community of the equine world; more of a barn hand to the owner on the supply chain. As a vet you have the same legal liabilities as a doctor with humans, you have to care and be passionate.Ethical values are a moral code each of us has grown into as a personality; it has become part of you good or bad. The NAVA has established a set of principles and they are available online as well, they are well rounded values everyone should stand up to. You never want to portray unprofessional; you want to uphold your profession. You want to treat your customers as if you wanted to be rated. You never want to take advantage of them or withhold the truth or information. You are resuming the obligation of your clients to make decisions for the health of the animal.The purpose of ethical codes is to ensure that everyone is getting treated fairly and the same, with respect. If you go to the doctor and they diagnose you with this terminal illness or something serious, you believe them and take them serious. The question comes in if you go through a lot of test and understanding to only find out that you have wasted your money because there is nothing really wrong with you. That would upset anyone, even to be glad to know you're okay but you have been betrayed by someone you have trusted that's not ethical or morally right.There are many consequences from actions from you performing unethical acts, you can never gain the trust of clients and create new customer relationships. As I stated earlier you want to establish a great patient and client base, they need to trust you and understand that you're going to help; without that you may never make it in your profession. They can also range to legal issues; it is illegal to perform necessary medical acts without the patient and client understanding consent.Acting ethically is something that should be a natural act for you, as when you were a kid treats others how you would like to be treated. If you're in the medical field think that you want your doctor to treat your mother how he/she would treat their mother. Same thing applies in the veterinarian world; there is a lot of investment and love in an animal like a child. If you are in it for the money or position on the pole of hierarchy your already thinking unethically. When it comes to the care and health of there and others loved ones you should naturally want the best.

Queen Seondeok of Koreas Silla Kingdom

Queen Seondeok of Koreas Silla Kingdom Queen Seondeok ruled the Kingdom of Silla  starting in 632, marking the first time a female monarch rose to power in Korean history - but certainly not the last. Unfortunately, much of the history of her reign, which took place during Koreas Three Kingdoms period, has been lost to time, but her story lives on in legends of her beauty and even occasional clairvoyance.   Although Queen Seondeok led her kingdom in a war-torn and violent era, she was able to hold the country together and advance Silla culture while her success paved the way for future ruling queens, marking a new era in a female dominion of South Asian kingdoms. Born Into Royalty Not much is known about Queen Seondeoks early life, but it is known that she was born Princess Deokman in 606 to King Jinpyeong, the 26th king of the Silla, and his first queen Maya. Although some of Jinpyeongs royal concubines had sons, neither of his official queens produced a surviving boy. Princess Deokman was well-known for her intelligence and accomplishments, according to the surviving historical records. In fact, one story tells of a time when the Emperor Taizong of Tang China sent a sample of poppy seeds and a painting of the flowers to the Silla court and Deokman predicted the flowers in the picture would have no scent. When they bloomed, the poppies were indeed odorless. The princess explained that there were no bees or butterflies in the painting - hence her prediction that the blossoms were not fragrant. Accession to the Throne As the oldest child of a queen and a young woman of great intellectual power, Princess Deokman was selected to be her fathers successor. In Silla culture, a familys heritage was traced through both the matrilineal and patrilineal sides in the system of bone ranks  - giving high-born women more authority than in other cultures of the time. Because of this, it was not unknown for women to rule over small sections of the Silla Kingdom, but they had only ever served as regents for their sons or queens dowager - never in their own name. This changed when King Jinpyeong died in 632 and the 26-year-old Princess Deokman became the first ever outright female monarch, Queen Seondeok. Reign and Accomplishments During her fifteen years on the throne, Queen Seondeok used skillful diplomacy to form a stronger alliance with Tang China. The implicit threat of Chinese intervention helped to ward off attacks from Sillas rivals, Baekje and Goguryeo, yet the queen was not afraid to send out her army as well. In addition to external affairs, Seondeok also encouraged alliances among the leading families of Silla. She arranged marriages between the families of Taejong the Great and General Kim Yu-sin - a power bloc that would later lead Silla to unify the Korean Peninsula and end the Three Kingdoms period. The queen was interested in  Buddhism, which was fairly new to Korea at the time but had already become the state religion of Silla. As a result, she sponsored the Bunhwangsa Temple construction near Gyeongju in 634 and oversaw the completion of Yeongmyosa in 644. The  80-meter-tall Hwangnyongsa pagoda included nine stories, each of which represented one of Sillas enemies. Japan, China, Wuyue (Shanghai), Tangna, Eungnyu, Mohe (Manchuria), Danguk, Yeojeok, and Yemaek - another Manchurian population associated with the Buyeo Kingdom - were all depicted on the pagoda until Mongol invaders burned it down in 1238. Lord Bidams Revolt Near the end of her reign, Queen Seondeok faced a challenge from a Silla nobleman called Lord Bidam. Sources are sketchy, but he likely rallied supporters under the motto Women rulers cannot rule the country. The story goes that a bright falling star convinced Bidams followers that the queen too would fall soon. In response, Queen Seondeok flew a flaming kite to show that her star was back in the sky. After just ten days, according to the memoirs of a Silla general, Lord Bidam and 30 of his co-conspirators were captured. The rebels were executed by her successor nine days after Queen Seondeoks own death. Other Legends of Clairvoyance and Love In addition to the story of the poppy seeds of her childhood, further legends about Queen Seondeoks predictive abilities have come down through word of mouth and some scattered written records. In one story, a chorus of white frogs appeared in the dead of winter and croaked ceaselessly in the Jade Gate Pond at Yeongmyosa Temple. When Queen Seondeok heard about their untimely emergence from hibernation, she immediately sent 2,000 soldiers to the Womans Root Valley, or Yeogeunguk, west of the capital at Gyeongju, where the Silla troops found and wiped out a force of 500 invaders from neighboring Baekje. Her courtiers asked Queen Seondeok how she knew that the Baekje soldiers would be there and she replied that the frogs represented soldiers, white meant they came from the west, and their appearance at the Jade Gate - a euphemism for female genitalia - told her that the soldiers would be in the Womans Root Valley. Another legend preserves the Silla peoples love for Queen Seondeok. According to this story, a man named  Jigwi  traveled to the Yeongmyosa Temple to see the queen, who was making a visit there. Unfortunately, he was tired out by his journey and fell asleep while waiting for her. Queen Seondeok was touched by his devotion, so she gently placed her bracelet on his chest as a sign of her presence. When  Jigwi  woke up and found the queens bracelet, his heart was so filled with love that it burst into flame and burned down the entire pagoda at Yeongmyosa. Death and Succession One day sometime before her passing, Queen Seondeok gathered her courtiers and announced that she would die on January 17, 647. She asked to be buried in the Tushita Heaven and her courtiers replied that they did not know that location, so she pointed out a place on the side of Nangsan (Wolf Mountain). On exactly the day that she had predicted, Queen Seondeok died and was interred in a tomb on Nangsan. Ten years later, another Silla ruler built Sacheonwangsa  - The Temple of Four Heavenly Kings - down the slope from her tomb. The court later realized that they were fulfilling a final prophecy from Seondeok wherein Buddhist scripture, the Four Heavenly Kings live below the Tushita Heaven on Mount Meru. Queen Seondeok never married or had children. In fact, some versions of the poppy legend suggest that the Tang Emperor was teasing Seondeok about her lack of offspring when he sent the painting of the flowers with no attendant bees or butterflies. As her successor, Seondeok chose her cousin Kim Seung-man, who became Queen Jindeok. The fact that another ruling queen followed immediately after Seondeoks reign proves that she was an able and astute ruler, Lord Bidams protestations notwithstanding. The Silla Kingdom would also boast Koreas third and final female ruler, Queen Jinseong nearly two hundred years later from 887 to 897.

Questions on Financial Management Essays

Questions on Financial Management Essays Questions on Financial Management Essay Questions on Financial Management Essay Essay Topic: Questions Sensitivity analysis provide information for decision makers to more informed about project sensitivities, to know the room they have for judgemental error and to decide whether they are prepared to accept the risks. During the implementation phase of the investment process the original sensitivity analysis can be used to highlight those factors which have the greatest impact on NPV. Decision makers can draw on key parameters differ significantly from the estimates. For example, this project is highly sensitive to the price of product. $50 of change can make a great impact on NPV. Managers after recognising this from the sensitivity analysis should make some plans to avoid big change of price. From sensitivity analysis of Pentre plc, we can see market size in year 2 to year 5 is more sensitive than market size in year 1. Thus the company should take more efforts to keep and extend its market share from second year. Sensitivity analysis also has many drawbacks. For example, the absence of any formal assignment of probabilities to the variations of the parameters is a potential limitation. Change of government policy, eventuality impact such as SARS. Another criticism is that each variable is changed in isolation while all other factors remain constant. For example, if inflation is higher then both anticipated selling prices and input prices are likely to be raised. b) Merits and Drawbacks of the Use of Internal Rate of Return The Internal Rate of Return (IRR) is the discount rate at which the Net Present Value (NPV) of a project equals zero. The IRR decision rule specifies that all independent projects with an IRR greater than the cost of capital should be accepted. When choosing among mutually exclusive projects, the project with the highest IRR should be selected). IRR method has many advantages that make it one of the most widely used methods for evaluating capital investments. First, the IRR makes an appropriate adjustment for the time value of money. The value of a dollar received in the first year is greater than the value of a dollar received in the second year, and even cash flows that arrive several years in the future receive some weight in the analysis. Second, the hurdle rate itself can be base on market returns obtainable on similar investments. This takes away some of the subjectivity of other analytical methods that must be made when using payback or accounting rate of return, and it allows managers to make explicit, quantitative adjustments for differences in risk across projects. Third, because the answer that comes out of an IRR is a rate of return, it is easy for both financial and nonfinancial managers to grasp intuitively. Fourth, the IRR technique focuses on cash flow rather than on accounting measures of income. Though it represents a substantial improvement over payback or accounting return analysis, the IRR technique has its own set of problems that should analysis. One common problem is the difficulty associated with its calculation. In most circumstances the IRR of a project can only be found by trial-and-error. This is because the number of periods (or cash flows) involved in the project needs to be solved to calculate the IRR. IRR is the discount rate at which the NPV of a projects cash flows in equal to zero. Since zero is a number that lies between a positive number and a negative number, IRR must lie between two discount rates. So we need to guess a starting point to perform the interpolation. The second problem is that the nature of the rule must be modified depending on whether the project under evaluation is an investing project or a financing project (e.g. borrowing money from a bank). In the case of an investment, a corporation will accept a project with a high rate of return. With a financing project, the corporation is looking for the cheapest source of finance. Hence, the decision rule for a project must be modified to take into account whether it is an investment project or a financing project. Another problem with the IRR technique arises from the fact that a rate of return does not take into consideration the size of a project. This is sometimes referred to as the problem of scale. Incorrect investment decisions could be made when applying the IRR rule, because it ignores projects sizes. QUESTION 2: Valuing Shares Year 1 2 3 4 5 Retentions 180.00 148.80 124.99 111.97 116.17 Retention ratio 60% 40% 30% 25% 25% Incremental earnings 72 44.64 31.25 16.80 Incremental earnings ratio 40% 30% 25% 15% Profit 300.00 372.00 416.64 447.89 464.68 Dividend paid 120.00 223.20 291.65 335.92 348.51 g = retention rate * return on investment = 25% * 15% = 3.75% a) i. Dividend model V4 = D5 / (r g) = 348.51 / (15%-3.75%) = 3097.87 V0 = 120*0.8696+223.2*0.7561+291.65*0.6575+335.92*0.5718+3097.87 *0.5718 = 104.35+168.76+191.76+192.08+1771.36 = 2428.31 a) ii. Earnings based model E * 1/15% = 3001/15% = $2000 Vt = 180*0.8696 + 148.8*0.7561 + 124.99*0.6575 + 111.97*0.5718 = 156.53+112.51+82.18+64.03 =$415.25 R5 / (r g) * 0.5718 = 116.17 / (15%-3.75%) * 0.5718 = 590.45 V0 = 2000 + 415.25+ 590.45 = 3005.7 a) iii. Assumptions There are no taxes. The absence of corporate income taxes is assumed. There are no costs of financial distress. For example, there are no transactions costs, and all securities are infinitely divisible. There are no asymmetries of information. It implies that the expected values of the probability distributions of expected operating earnings for all future periods are the same as present operating earnings. The investment and operating policies of the firm are given and investors are assumed to be rational and to behave accordingly. b) Price earnings ratio A price-earning ratio is a commonly used way to simplistically value a company, determine what a companys stock should be worth. It is also known as P/E, is calculated by dividing the companys stock price by the companys earnings per share, or EPS. The P/E ratio gives an indication of how many times shareholders paying for a companys stock compares a companys earnings. P/E ratios can be used to compare against other companies, or against a companys own historical P/E ratio. Investors usually are willing to pay a higher P/E for companies they judge will be growing faster than the norm even though they do not pay those earnings out in dividends but retain them to fund future growth. If that growth is realized, the price of the companys stock usually grows faster than the overall stock price of the slower growth or higher dividend paying company. However, if estimated earnings are not realized or the stock market itself loses favor with the investor, such as higher interest rates attracting investment capital, the downside potential is greater as well. The risk is not just the ability of the company to create profits, but the investment risk in the higher price you paid relative to earnings. OSIM International LTD FY2003 Dec FY2002 Dec FY2001 Dec FY2000 Dec Adjusted EPS (Earnings/Current no. of Shares) $0.05387 $0.03836 $0.02997 $0.02113 P/E Ratio (Current price/Adjusted EPS) 18.93 26.59 34.03 48.27 listedcompany.com/ir/osim/web/stock.cgi OSIM is a global leader in healthy lifestyle products. It is the leading Asian brand for healthy lifestyle products. OSIMs P/E ratio decreased in the four years though the EPS increased rapidly. This means investors predict companys future isnt as good as former years. The price is going down, but the risk is lower than before. However, this is also a good growth stock for those who can buy and hold for further growth including bonus issues which the company had given every few years because healthy lifestyle products has a good outlook in the future. Brilliant Manufacturing Limited. FY2003 Sept FY2002 Sept FY2001 Sept FY2000 Sept Adjusted EPS (Earnings/Current no. of Shares) $0.04622 $0.01526 $0.00350 0.01327 P/E Ratio (Current price/Adjusted EPS) 12.98 39.32 171.43 45.21 listedcompany.com/ir/brilliant/web/stock.cgi? Brilliant Manufacturing produces precision machining of 5.25 floppy disk drive aluminium housing for Tandon in Singapore. After the acquisition of Tandon by Western Digital, The Company grew substantially from servicing Western Digital to other valued customers in the Hard Disk Drive (HDD) sector. P/E ratio decreased rapidly from 2002, this is because the boom of computer and internet industry in 2001. Stepped to 2003, due to the down results for the financial year, P/E ratio dropped quickly from 39 to 13 but the earnings also increased almost 4 times last year. That means the investment is worth and the company is still earning profits. Giant Wireless Technology FY2004 Mar FY2003 Mar FY2002 Mar FY2001 Mar Adjusted EPS (Earnings/Current no. of Shares) $0.02283 $0.02825 $0.02638 $0.02751 P/E Ratio (Current price/Adjusted EPS) 14.89 12.04 12.89 12.36 listedcompany.com/ir/giant/web/stock.cgi? Since commencing its operations in 1988, Giant Wireless Technology has grown to become a leading developer and manufacturer of wireless telecommunications solutions and electronics products for the U.S., Europe and China markets. Though the EPS decreased from FY2003 to FY2004, the P/E ratio increased 2 percent. This means investors give a high prediction to company. They willing to pay a higher P/E for company, judge company will be growing faster than the norm even though they do not pay those earnings out in dividends but retain them to fund future growth. If that growth is realized, the price of the companys stock usually grows faster than the overall stock price of the slower growth or higher dividend paying company. QUESTION 3: Financing Decisions a)i. earning per share Current Proposed Assets Debt (9%) Equity Market Value/Share Shares outstanding EBIT Interest Tax (30%) Return on equity(Earnings after Interest ;Tax) $1680m 0 $1680m $4 420m $300m 0 $90m $210m $1680m $600m $1080m $4 270m $300m $54m $73.8m $172.2m Earning per share(EPS) $0.5 $0.64 a)ii. Level of earning at which EPS will be same Current Proposed Assets Debt (9%) Equity Market Value/Share Shares outstanding EBIT Interest Tax (30%) Return on equity(Earnings after Interest ;Tax) $1680m 0 $1680m $4 420m 0 EBIT*30% ? $1680m $600m $1080m $4 270m $54m (EBIT-54)*30% ? Earning per share(EPS) $0.5 $0.5 EBIT 0 EBIT*30% = EBIT 54 (EBIT-54)*30% 420 270 EBIT = 151.2 b) Discuss some of the factors that are likely to limit the amount of debt that a company is likely to want to employ in its financing. Company is financed by ordinary shares (equity) or debt. Generally, debt has a cheaper direct cost than equity. There are two distinct reasons for this: ; Debt has low risk results in a low required return. Thus, company can reduce the cost of financing. ; Interest can be paid before taxation, whereas dividends are not. However, borrowing isnt perfect. To determining how much debt to use, corporate should first consider taxes. The government allow corporations to deduct interest payments from income before taxation, this essentially subsidizes dollar paid in interest. But any borrowing at all will cause the cost of equity capital to rise, offsetting the cheap direct cost of debt. Financial distress may also keep firms from loading up on debt. Explicit financial distress costs include the payments made to lawyers, accountants, and so on. they reduce the cash flows that will eventually be paid to the bondholders and stockholders. Clearly, investors would prefer that firms stay out of financial distress so that these losses are not incurred. Corporations must also consider the indirect costs of bankruptcy. As the firm takes on more and more debt, the probability of bankruptcy increases. This cause the firm will not be able to meet interest payments in any given year and will be forced into default goes up as the amount of debt and corresponding interest increases. It includes the costs of low inventories, higher costs of inputs from suppliers who fear the company might not pay its bills next month, and the loss of customers who desire a long-term relationship with the firm. These costs prevent firms from maintaining exceptionally high levels of debt. A fourth factor limiting the use of debt is desire for control by current shareholders. MM theory in a 1976 article, noted differences between the firm that is 100 percent manager owned and one where the equity is owned partially by managers and partially by outsiders. The managers should run the firm to maximize its value. But managers may not implement their decisions because of the control of shareholders. On the other hand, debtors cannot control the firms management that is advantaged. Availability of assets for pledge also limits the use of debt. In order to ensure its security of loan, bank always acquires pledges from the company and this kind of pledges should be easy to be realized. If the company lack of assets that can be used as pledges, it must be difficult to raise money as debt. When a company starts to borrow, the advantages always go with the disadvantages. In order to minimize the cost of capital and maximize the earning, company should consider above-mentioned factors carefully to gain benefits from financial leverage. c) Dividend Payment Policies 1. residual dividend pay dividend only if more earnings available than are needed to support optimal capital budget NTUC Income Shares 1999 ; 2000 6% each year 2001 5% 2002 3.5% 2003 5% Its dividend policy is to reward shareholders for investment earnings on their capital, which is used to back our business. Dividends are declared on all shares held during the financial year and are based on their business performance during the year. It is declared at the Annual General Meeting and is credited directly to your bank account. Dividend is payable in full on shares held for a duration of 12 calendar months during the financial year and on a pro-rated basis on shares held for less than 12 months. google.com.sg/search?q=cache:XweOBesthMcJ:incnet.income.com.sg/uishare/main.aspx+dividend+policy;hl=en 2. stable growth rate set target growth rate for dividend and strives to increase dividend by that amount every year ACOM CO., LTD. (Tokyo Stock Exchange) ACOMs dividend policy is to provide shareholders with stable dividend growth. Dividends for the fiscal year under review included an amount equivalent to the commemorative dividends paid last year in the interim and year-end dividends as well as a à ¯Ã‚ ¿Ã‚ ½5.00 per share increase in the term-end dividend, to à ¯Ã‚ ¿Ã‚ ½22.50. Consequently, the total year dividend for fiscal 1998 was à ¯Ã‚ ¿Ã‚ ½40.00 per share, a rise of à ¯Ã‚ ¿Ã‚ ½5.00 from the previous year. This represents a payout ratio of 13.3% and a 2.0% dividend on equity. www.c-direct.ne.jp/english/ divide/10108572/8572_98/8572e_02.pdf 3. Constant payout pay certain amount of earnings as dividends (or pay a constant $ amount each year). Neptune Orient Lines (NOL) NOL is a global transportation company, with core businesses involved in container transportation and supply chain management. NOL intends to maintain an annual dividend of 8 Singapore cents per share net, or a full year dividend payout of 20% of net profits, whichever is higher. In line with this policy, the Board of Directors has declared an interim dividend of 7 Singapore cents per share net (8.75 cents gross). This dividend is issued out of existing Section 44 tax credits and is payable on 30 August 2004. nol.com.sg/newsroom/04news/040727.html 4. low regular dividend plus extra pay a low regular dividend and an extra at the end of the year (depending on the earnings performance that year) SINGAPORE Exchange (SGX) July 30, 2004 SGX proposed a final dividend of 4.075 cents per share and a special dividend of 6.5 cents, bringing the total payout for FY04 to 13.5 cents per share. It paid 40.5 cents per share in dividends last year, including a special 34-cent dividend from the liquidation of assets. http://business-times.asia1.com/story/0,4567,124036,00.html

Biography of Golda Meir, First Female Prime Minister of Israel

Biography of Golda Meir, First Female Prime Minister of Israel Golda Meirs deep commitment to the cause of Zionism determined the course of her life. She moved from Russia to Wisconsin when she was eight; then at age 23, she emigrated to what was then called Palestine with her husband. Once in Palestine, Golda Meir played vital roles in advocating for a Jewish state, including raising money for the cause. When Israel declared independence in 1948, Golda Meir was one of the 25 signers of this historic document. After serving as Israel’s ambassador to the Soviet Union, minister of labor, and foreign minister, Golda Meir became Israels fourth prime minister in 1969. She was also known as Golda Mabovitch (born as), Golda Meyerson, Iron Lady of Israel. Dates: May 3, 1898 - December 8, 1978 Early Childhood in Russia Golda Mabovitch (she would later change her surname to Meir in 1956) was born in the Jewish ghetto within Kiev in Russian Ukraine to Moshe and Blume Mabovitch. Moshe was a skilled carpenter whose services were in demand, but his wages were not always enough to keep his family fed. This was partly because clients would often refuse to pay him, something Moshe could do nothing about since Jews had no protection under Russian law. In late 19th century Russia, Czar Nicholas II made life very difficult for the Jewish people. The czar publicly blamed many of Russias problems on Jews and enacted harsh laws controlling where they could live and when - even whether - they could marry. Mobs of angry Russians often participated in pogroms, which were organized attacks against Jews that included the destruction of property, beatings, and murder. Goldas earliest memory was of her father boarding up the windows to defend their home from a violent mob. By 1903, Goldas father knew that his family was no longer safe in Russia. He sold his tools to pay for his passage to America by steamship; he then sent for his wife and daughters just over two years later, when he had earned enough money. A New Life in America In 1906, Golda, along with her mother (Blume) and sisters (Sheyna and Zipke), began their trip from Kiev to Milwaukee, Wisconsin to join Moshe. Their land journey through Europe included several days crossing Poland, Austria, and Belgium by train, during which they had to use fake passports and bribe a police officer. Then once on board a ship, they suffered through a difficult 14-day journey across the Atlantic. Once safely ensconced in Milwaukee, eight-year-old Golda was at first overwhelmed by the sights and sounds of the bustling city, but soon came to love living there. She was fascinated by the trolleys, skyscrapers, and other novelties, such as ice cream and soft drinks, that she hadn’t experienced back in Russia. Within weeks of their arrival, Blume started a small grocery store in the front of their house and insisted that Golda open the store every day. It was a duty that Golda resented since it caused her to be chronically late for school. Nevertheless, Golda did well in school, quickly learning English and making friends. There were early signs that Golda Meir was a strong leader. At eleven years old, Golda organized a fundraiser for students who could not afford to buy their textbooks. This event, which included Goldas first foray into public speaking, was a great success. Two years later, Golda Meir graduated from eighth grade, first in her class. Young Golda Meir Rebels Golda Meirs parents were proud of her achievements but considered eighth grade the completion of her education. They believed that a young womans primary goals were marriage and motherhood. Meir disagreed for she dreamed of becoming a teacher. Defying her parents, she enrolled in a public high school in 1912, paying for her supplies by working various jobs. Blume tried to force Golda to quit school and began to search for a future husband for the 14-year-old. Desperate, Meir wrote to her older sister Sheyna, who by then had moved to Denver with her husband. Sheyna convinced her sister to come to live with her and sent her money for train fare. One morning in 1912, Golda Meir left her house, ostensibly headed for school, but instead went to Union Station, where she boarded a train for Denver. Life in Denver Although she had hurt her parents deeply, Golda Meir had no regrets about her decision to move to Denver. She attended high school and mingled with members of Denvers Jewish community who met at her sisters apartment. Fellow immigrants, many of them Socialists and anarchists, were among the frequent visitors who came to debate the issues of the day. Golda Meir listened attentively to discussions about Zionism, a movement whose goal it was to build a Jewish state in Palestine. She admired the passion the Zionists felt for their cause and soon came to adopt their vision of a national homeland for Jews as her own. Meir found herself drawn to one of the quieter visitors to her sisters home - soft-spoken 21-year-old Morris Meyerson, a Lithuanian immigrant. The two shyly confessed their love for one another and Meyerson proposed marriage. At 16, Meir was not ready to marry, despite what her parents thought, but promised Meyerson she would one day become his wife. Return to Milwaukee In 1914, Golda Meir received a letter from her father, begging her to return home to Milwaukee; Golda’s mother was ill, apparently partly from the stress of Golda having left home. Meir honored her parents wishes, even though it meant leaving Meyerson behind. The couple wrote each other frequently, and Meyerson made plans to move to Milwaukee. Meirs parents had softened somewhat in the interim; this time, they allowed Meir to attend high school. Shortly after graduating in 1916, Meir registered at the Milwaukee Teachers Training College. During this time, Meir also became involved with the Zionist group Poale Zion, a radical political organization. Full membership in the group required a commitment to emigrate to Palestine. Meir committed in 1915 that she would one day immigrate to Palestine. She was 17 years old. World War I and the Balfour Declaration As World War I progressed, violence against European Jews escalated. Working for the Jewish Relief Society, Meir and her family helped raise money for European war victims. The Mabovitch home also became a gathering place for prominent members of the Jewish community. In 1917, news arrived from Europe that a wave of deadly pogroms had been carried out against Jews in Poland and Ukraine. Meir responded by organizing a protest march. The event, well-attended by both Jewish and Christian participants, received national publicity. More determined than ever to make the Jewish homeland a reality, Meir left school and moved to Chicago to work for the Poale Zion. Meyerson, who had moved to Milwaukee to be with Meir, later joined her in Chicago. In November 1917, the Zionist cause gained credibility when Great Britain issued the Balfour Declaration, announcing its support for a Jewish homeland in Palestine. Within weeks, British troops entered Jerusalem and took control of the city from Turkish forces. Marriage and the Move to Palestine Passionate about her cause, Golda Meir, now 19 years old, finally agreed to marry Meyerson on the condition that he move with her to Palestine. Although he did not share her zeal for Zionism and didnt want to live in Palestine, Meyerson agreed to go because he loved her. The couple was married on December 24, 1917, in Milwaukee. Since they didn’t yet have the funds to emigrate, Meir continued her work for the Zionist cause, traveling by train across the United States to organize new chapters of the Poale Zion. Finally, in the spring of 1921, they had saved enough money for their trip. After bidding a tearful farewell to their families, Meir and Meyerson, accompanied by Meirs sister Sheyna and her two children, set sail from New York in May 1921. After a grueling two-month voyage, they arrived in Tel Aviv. The city, built in the suburbs of Arab Jaffa, had been founded in 1909 by a group of Jewish families. At the time of Meirs arrival, the population had grown to 15,000. Life on a Kibbutz Meir and Meyerson applied to live on Kibbutz Merhavia in northern Palestine but had difficulty getting accepted. Americans (although Russian-born, Meir was considered American) were believed too soft to endure the hard life of working on a kibbutz (a communal farm). Meir insisted on a trial period and proved the kibbutz committee wrong. She thrived on the hours of hard physical labor, often under primitive conditions. Meyerson, on the other hand, was miserable on the kibbutz. Admired for her powerful speeches, Meir was chosen by members of her community as their representative at the first kibbutz convention in 1922. Zionist leader David Ben-Gurion, present at the convention, also took notice of Meirs intelligence and competence. She quickly earned a place on the governing committee of her kibbutz. Meirs rise to leadership in the Zionist movement came to a halt in 1924 when Meyerson contracted malaria. Weakened, he could no longer tolerate the difficult life on the kibbutz. To Meirs great disappointment, they moved back to Tel Aviv. Parenthood and Domestic Life Once Meyerson recuperated, he and Meir moved to Jerusalem, where hed found a job. Meir gave birth to son Menachem in 1924 and daughter Sarah in 1926. Although she loved her family, Golda Meir found the responsibility of caring for children and keeping the house very unfulfilling. Meir longed to be involved again in political affairs. In 1928, Meir ran into a friend in Jerusalem who offered her the position of secretary of the Womens Labor Council for the Histadrut (the Labor Federation for Jewish workers in Palestine). She readily accepted. Meir created a program for teaching women to farm the barren land of Palestine and set up childcare that would enable women to work. Her job required that she travel to the United States and England, leaving her children for weeks at a time. The children missed their mother and wept when she left, while Meir struggled with guilt for leaving them. It was the final blow to her marriage. She and Meyerson became estranged, separating permanently in the late 1930s. They never divorced; Meyerson died in 1951. When her daughter became seriously ill with kidney disease in 1932, Golda Meir took her (along with son Menachem) to New York City for treatment. During their two years in the U.S., Meir worked as the national secretary of Pioneer Women in America, giving speeches and winning support for the Zionist cause. World War II and Rebellion Following Adolf Hitlers rise to power in Germany in 1933, the Nazis began to target Jews - at first for persecution and later for annihilation. Meir and other Jewish leaders pleaded with heads of state to allow Palestine to accept unlimited numbers of Jews. They received no support for that proposal, nor would any country commit to helping the Jews escape Hitler. The British in Palestine further tightened restrictions on Jewish immigration to appease Arab Palestinians, who resented the flood of Jewish immigrants. Meir and other Jewish leaders began a covert resistance movement against the British. Meir officially served during the war as a liaison between the British and the Jewish population of Palestine. She also worked unofficially to help transport immigrants illegally and to supply resistance fighters in Europe with weapons. Those refugees who made it out brought shocking news of Hitlers concentration camps. In 1945, near the end of World War II, the Allies liberated many of these camps and found evidence that six million Jews had been killed in the Holocaust. Still, Britain would not change Palestines immigration policy. The Jewish underground defense organization, Haganah, began to rebel openly, blowing up railroads throughout the country. Meir and others also rebelled by fasting in protest of British policies. A New Nation As violence intensified between British troops and the Haganah, Great Britain turned to the United Nations (U.N.) for help. In August 1947, a special U.N. committee recommended that Great Britain end its presence in Palestine and that the country is divided into an Arab state and a Jewish state. The resolution was endorsed by a majority of U.N. members and adopted in November 1947. Palestinian Jews accepted the plan, but the Arab League denounced it. Fighting broke out between the two groups, threatening to erupt into full-scale war. Meir and other Jewish leaders realized that their new nation would need money to arm itself. Meir, known for her passionate speeches, traveled to the United States on a fund-raising tour; in just six weeks she raised 50 million dollars for Israel. Amid growing concerns about an impending attack from Arab nations, Meir undertook a daring meeting with King Abdullah of Jordan in May 1948. In an attempt to convince the king not to join forces with the Arab League in attacking Israel, Meir secretly traveled to Jordan to meet with him, disguised as an Arab woman dressed in traditional robes and with her head and face covered. The dangerous journey, unfortunately, did not succeed. On May 14, 1948, British control of Palestine expired. The nation of Israel came into being with the signing of the Declaration of the Establishment of the State of Israel, with Golda Meir as one of the 25 signers. First to formally recognize Israel was the United States. The next day, armies of neighboring Arab nations attacked Israel in the first of many Arab-Israeli wars. The U.N. called for a truce after two weeks of fighting. Rise to the Top Israel’s first prime minister, David Ben-Gurion, appointed Meir as ambassador to the Soviet Union (now Russia) in September 1948. She stayed in the position only six months because the Soviets, who had virtually banned Judaism, were angered by Meirs attempts to inform Russian Jews about current events in Israel. Meir returned to Israel in March 1949, when Ben-Gurion named her Israels first minister of labor. Meir accomplished a great deal as labor minister, improving conditions for immigrants and armed forces. In June 1956, Golda Meir was made a foreign minister. At that time, Ben-Gurion requested that all foreign service workers take Hebrew names; thus Golda Meyerson became Golda Meir. (â€Å"Meir† means â€Å"to illuminate† in Hebrew.) Meir dealt with many difficult situations as foreign minister, beginning in July 1956, when Egypt seized the Suez Canal. Syria and Jordan joined forces with Egypt in their mission to weaken Israel. Despite a victory for the Israelis in the battle that followed, Israel was forced by the U.N.to return the territories they had gained in the conflict. In addition to her various positions in the Israeli government, Meir was also a member of the Knesset (Israeli parliament) from 1949 to 1974. Golda Meir Becomes Prime Minister In 1965, Meir retired from public life at the age of 67 but had only been gone a few months when she was called back to help mend rifts in the Mapai Party. Meir became secretary general of the party, which later merged into a joint Labor Party. When Prime Minister Levi Eshkol died suddenly on February 26, 1969, Meirs party appointed her to succeed him as prime minister. Meirs five-year term came during some of the most turbulent years in Middle Eastern history. She dealt with the repercussions of the Six-Day War (1967), during which Israel re-took the lands gained during the Suez-Sinai war. The Israeli victory led to further conflict with Arab nations and resulted in strained relations with other world leaders. Meir was also in charge of Israel’s response to the 1972 Munich Olympics Massacre, in which the Palestinian group called Black September took hostage and then killed eleven members of Israel’s Olympic team. The End of an Era Meir worked hard to bring peace to the region throughout her term, but to no avail. Her final downfall came during the Yom Kippur War, when Syrian and Egyptian forces waged a surprise attack on Israel in October 1973. Israeli casualties were high, leading to a call for Meirs resignation by members of the opposition party, who blamed Meirs government for being unprepared for the attack. Meir was nonetheless re-elected but chose to resign on April 10, 1974. She published her memoir, My Life, in 1975. Meir, who had been privately battling lymphatic cancer for 15 years, died on December 8, 1978, at the age of 80. Her dream of a peaceful Middle East has not yet been realized.

Compare the education between Saudi Arabia and United state Essay - 1

Compare the education between Saudi Arabia and United state - Essay Example The research will aim at bringing into focus thoseelements that the educational system in Saudi Arabia can learn from the United States of America. Saudi Arabia and the United States have been allies for a very long time. The Kingdom of Saudi Arabia is growing and aims to be among the top developed nations of the world. USA, on the other hand, is the most developed country. There are also some similarities and differences between the educational systems in the two countries. But when it comes to the infrastructure, syllabus, course curriculum and its teaching methods, and the quality of education USA will be found to be better than in Saudi Arabia. Thus for this research paper, the problem statement can be stated as â€Å"the educational system in Saudi Arabia is not competent enough like the educational system in USA† The paper will be discussing the importance of education in general in the initial phase to realize its significance in society. This section will discuss the importance of the educational institutions in disbursing proper education. After that two segments will briefly discuss the crux and mechanics of the education system prevailing in the two nations which help us in creating a sense of differentiation and similarity between the two systems. The differences will be then thoroughly discussed and areas will be unfurled where the essence of educational system of USA can be implemented in Saudi. Research also identified that USA is facing some crisis and that will be discussed in the subsequent section. After that a brief literature survey will be executed to gain stronger foothold over the subject matter and validating the problem statement and reaching the aim and objectives of the paper. Education has been considered as an important part in the human society since the development of the civilized world. Human societies across many ages put their interests in the quality of education. The importance of education must not be

The Dangers Of Cell Phones For Human Health Essay

The Dangers Of Cell Phones For Human Health - Essay Example Supporters of cell phones say that cell phones provide us with a number of facilities, such as ease of communication, neighborhood crime watch, use in emergencies, and use as reminders. However, there also exist some risks regarding the use of cell phones. Some of the risks include road accidents, increased number of crimes, and weakening of eardrums. Today, almost every person keeps a cell phone in the car while traveling because a cell phone has become one of the major necessities of life. Use of cell phone while driving may result in slower braking reactions, slower reactions to traffic signals, and difficulties in making quick decisions. If we compare the ratio of road accidents that used to occur in a year before the 2000s with today, we come to know that the ratio of road accidents due to use of cell phones during driving has been increased by 75 to 80 percent approximately. â€Å"In a study done in April 2006, it was found that 80% of car crashes involved the driver not paying attention right before the accident† (Russell). The reason is that cell phones distract the driver’s attention, which results in road accidents. â€Å"According to several resources, every year, about 21% critical vehicle crashes happen due to cellphone use and require teens among age party 16 to 19 ages† (He). Supporters of cell phones say that cell phones do not take much attention of the users; rather they make people more responsible as they have to take care of themselves and other people while on road. However, this viewpoint is very illogical because accidents just need a little negligence to occur and that negligence can take place at any stage of cell phone use. Cell phones also create risks for health. Excessive use of cell phones can affect our eardrums and can cause skin cancer as well. Today, a large number of young adults use a hands-free system to hear songs from their cell phones.

Building a companies without borders Essay Example | Topics and Well Written Essays - 1250 words

Building a companies without borders - Essay Example According to Becht (2010, p. 2), this means that most of the top managers of Reckitt Benckiser â€Å"haven’t held jobs in their company of origin for years and view themselves as global citizens rather than as citizens of any given nation.† The company operates in 60 countries and its 400 managers are from 53 nationalities (Becht 2010). According to Becht (2010, p. 1), the company adopted the strategy of being a â€Å"company without borders† because â€Å"it’s one of the best ways to generate new ideas and create entrepreneurs.† Becht (2010) claimed that Reckitt Benckiser’s strategy of â€Å"global cross-fertilization† led to good results because the strategy accounts for 35 to 40% of net revenue. Becht (2010) implied that â€Å"global cross-fertilization† promoted the invention of innovative products in Reckitt Benckiser. In turn, innovative products enabled the company to enjoy â€Å"steady, profitable growth, even during th e downturn† (Becht 2010, p. 1). Thus, according to Becht (2010), Reckitt Benckiser has outrun all her competitors since 2005. In the Becht (2010, p. 2) narrative, Reckitt Benckiser deliberately deploy managers in unfamiliar territories and not in their country of origin but they are expected â€Å"to find their footing very quickly.† Most managers, however, â€Å"grow tremendously† when they are taken out of their â€Å"familiar zone† (Becht, 2010, p. 2). Despite the multiplicity of nationalities in Reckitt Benckiser, the company insists on a common language in all meetings (Becht 2010). All are expected to say their piece no matter how blunt one’s piece is expressed. Thus, Reckitt Benckiser’s meetings are â€Å"chaotic† because â€Å"what takes over† is â€Å"an intensity and a feeling that we have to fight for better ideas† (Becht, 2010, p. 3). At Reckitt Benckiser, consensus is not highly valued but â€Å"conflict tha t simply slows down decision-making or is for political or personal gain is not tolerated† (Becht, 2010, p. 3). Nevertheless, â€Å"almost every key decision is made in meetings where it’s first discussed† and all must agree 100% to implement the decisions and â€Å"move quickly† (Becht, 2010, p. 3). However, minority views are not crushed (Becht, 2010). Those who do subscribe to the majority position are allowed to experiment with their ideas (Brecht, 2010, p. 3). Some of the questions that can be raised are as follows? How to the diversity of cultures impact on business? Do international connections play a role in business profitability? Are â€Å"companies without borders† a global trend? How do companies without borders organize themselves as a business? On the impact of diversity of cultures in managing businesses, John et al. (2011, p. 7) argued that â€Å"cultures that vary in value orientations should also vary in the level of control and p articipation.† John et al. (2011, p. 7) pointed out that â€Å"in a truly global marketplace, managers working in cross-cultural interactions need a better understanding of the impact of cultural orientation on an individual’s expectation at the service encounter.† This means, for example, consumers in diverse cultures vary with regard to how fast services should be, how faithful advertising should be on claims with regard to product quality, how assertive consumers can be with

The Formation of a Valid Business Contract Essay - 6

The Formation of a Valid Business Contract - Essay Example The essential element of the contract is an offer. It is an important ingredient because it defines the relationship and key issues in the contract. In order for the offer to stand as a legal entity, communication is a vital factor. The parties must communicate and accept the offer in the best terms available. Effective communication is essential in order to facilitate the receiving party with knowledge of whether to agree or reject the offer (Stevens 2004). In the case a person signs a contract without reading the terms of the contract, he is liable to the effects of miscommunication. A valid offer must be supported by certainty and validity on precise terms. The terms are considered definite in a situation where a reasonable person understands the terms. The clarity of the terms is reviewed basing the review on four pillars which are parties to the contract, duration of time for performance, value and subject matter/scope of services (Stevens 2004). A contract is considered enforceable when if the parties to the contract engage in an exchange of valuable price. Consideration is a consideration when there is mutuality. That is to mean that the parties to the contract must have valuable prices in exchange. The price is not only restricted to money but any other valuable consideration (Stevens 2004). There are many types of contracts, and all the types have an impact on the parties. There are those contracts that create an impact on the basis of creation. For example, express contracts. Words spoken or written make the contract. Another example is implied contracts where the contract is dependent on the conduct of a person or rather the circumstances under a particular case (Stevens 2004).  

International Business Finance Essay Example | Topics and Well Written Essays - 1000 words

International Business Finance - Essay Example However, expanding overseas is a major decision for the firm and it involves many risks dependent upon the country in which the firm decides to enter. Thus care and diligence is required in planning and implementing overseas expansion, in order to obtain positive results and growth for the firm. Overseas Expansions Every firm needs growth to fulfil its going concern requirement. Growth for the firm may be within the country of operations i.e. source country or on an international level. The increase in competition and technological advancements compel the firms to enter into new markets within the country and overseas. â€Å"Firms may expect to increase their profits through overseas operations.† (Habbard and O’Brien 2006) Thus firms engage in overseas operations for better results and diversity. There are many methods for overseas expansion depending upon the requirement and feasibility of the organization wanting to expand overseas. The basic method for international expansion is exporting. This is a low cost and low risk way to enter into the global market by selling your products in overseas domestic markets. The exporters get rebates by the government in order to promote the export and increase the foreign exchange reserve for their country. Another approach for expansion is the Foreign Direct Investment (FDI). â€Å"Foreign direct investment (FDI) is the process whereby residents of one country (source country) acquire ownership of assets for the purpose of controlling the production, distribution, and other activities of a firm in another country (host country)† (Moosa 2002) This method is more expensive as compared to the previous one and requires more investment in terms of cash, machinery, personnel etc. There are different ways for this method to work, i.e. wholly owned subsidiary which is completely owned by the parent company, joint ventures that are partnerships between two business and strategic alliances that are arrangement s between businesses. Whatever way the firm decides to expand abroad depends upon its priorities. Other method of overseas expansion may involve relocation of production. In this method the firms shifts its production facilities to a country that provides cheaper labour, less trade barriers etc. This shifting reduces the product costs thus making it more competitive in the market. Management contracts are also used by the firms to provide managerial expertise to other businesses. Firms also use licensing and franchising as methods of overseas expansion. Thus overseas expansion is a decision that requires proactive thinking and careful selection of methods and deployment of the appropriate resources in order for it to be successful. Risks Involved in Overseas Expansion The overseas expansion brings with it different types of risks. The firms must assess these risks wisely in order for the expansion to be beneficial. These risks can be categorised as pure risks and speculative risks. â€Å"Pure risks are associated with hazards such as health, safety, environment and security, whereas speculative risks are associated with business, finance, human resources, information technology strategy and politics.† (Adams 2006) The risks of overseas expansion depend upon the country in which the country is expanding. When a firm goes overseas it may encounter fraud, corruption, and other means of terrorism.

Islamic midterm Essay Example | Topics and Well Written Essays - 1250 words

Islamic midterm - Essay Example Today the building is a Cathedral. The Malwiya tower, which is the most distinguished feature in the mosque, was constructed entirely by brickwork. The use of brickwork is attributed to the Mesopotamian architects and artisans. It was constructed in the 9th century CE when the Islamic architecture was in its initial stages and was not established as it was in later centuries. The Mesopotamian architecture is evident in this monument because the early Muslims were from Arabia and the Arabs were not great architects or builders, you cannot find many notable pieces of architecture in Arabian peninsula before Islam or in the early days of Islam, this is the reason that the Arab Muslim conquerors relied solely on the Mesopotamian architecture while constructing the capital city of Samarra (which was later abandoned due to water shortage) and its monuments. Another feature of the tower Malwiya is the spiral ramp that recalls the ziggurats of Mesopotamia. The ziggurats also had the exposed staircases leading to the top of t he building and same is the case with the Malwiya tower of the Great Mosque of Samarra. The ziggurat were part of temple complexes i.e. places of worship of the Mesopotamians and same is the case with the mosque as it is the place of worship of the Muslims. So it is correct to say that the Mesopotamian architecture which was the native architecture of the building is evident in the architecture of the Great Mosque of Samarra however Islamic architecture is not missing altogether. The construction involved the styles of the local culture but the architecture as a whole is distinctively Islamic because primarily the structure and the plan of the building is strictly based on Islamic structure of a mosque. An Islamic mosque is essentially supposed to have a courtyard in the centre, it is not present in the centre of the building but it is there in the mosque. Also the minaret is

International Business Finance Essay Example | Topics and Well Written Essays - 1000 words

International Business Finance - Essay Example However, expanding overseas is a major decision for the firm and it involves many risks dependent upon the country in which the firm decides to enter. Thus care and diligence is required in planning and implementing overseas expansion, in order to obtain positive results and growth for the firm. Overseas Expansions Every firm needs growth to fulfil its going concern requirement. Growth for the firm may be within the country of operations i.e. source country or on an international level. The increase in competition and technological advancements compel the firms to enter into new markets within the country and overseas. â€Å"Firms may expect to increase their profits through overseas operations.† (Habbard and O’Brien 2006) Thus firms engage in overseas operations for better results and diversity. There are many methods for overseas expansion depending upon the requirement and feasibility of the organization wanting to expand overseas. The basic method for international expansion is exporting. This is a low cost and low risk way to enter into the global market by selling your products in overseas domestic markets. The exporters get rebates by the government in order to promote the export and increase the foreign exchange reserve for their country. Another approach for expansion is the Foreign Direct Investment (FDI). â€Å"Foreign direct investment (FDI) is the process whereby residents of one country (source country) acquire ownership of assets for the purpose of controlling the production, distribution, and other activities of a firm in another country (host country)† (Moosa 2002) This method is more expensive as compared to the previous one and requires more investment in terms of cash, machinery, personnel etc. There are different ways for this method to work, i.e. wholly owned subsidiary which is completely owned by the parent company, joint ventures that are partnerships between two business and strategic alliances that are arrangement s between businesses. Whatever way the firm decides to expand abroad depends upon its priorities. Other method of overseas expansion may involve relocation of production. In this method the firms shifts its production facilities to a country that provides cheaper labour, less trade barriers etc. This shifting reduces the product costs thus making it more competitive in the market. Management contracts are also used by the firms to provide managerial expertise to other businesses. Firms also use licensing and franchising as methods of overseas expansion. Thus overseas expansion is a decision that requires proactive thinking and careful selection of methods and deployment of the appropriate resources in order for it to be successful. Risks Involved in Overseas Expansion The overseas expansion brings with it different types of risks. The firms must assess these risks wisely in order for the expansion to be beneficial. These risks can be categorised as pure risks and speculative risks. â€Å"Pure risks are associated with hazards such as health, safety, environment and security, whereas speculative risks are associated with business, finance, human resources, information technology strategy and politics.† (Adams 2006) The risks of overseas expansion depend upon the country in which the country is expanding. When a firm goes overseas it may encounter fraud, corruption, and other means of terrorism.

O Essay Example | Topics and Well Written Essays - 500 words

O - Essay Example Different countries have jail criminals on less complex possession of illegal drugs such as marijuana, when found guilty, these offenders are given harsh punishment and jail sentences (Sandro 45). In the last 30 years, there have been international rise in the criminalization of improper use of drugs. Criminalization has led to the rise on the application of disciplinary authorizations executed on illegal drug offenders; in addition there have been an increase in the rates of imprisonment. However, it is vital to note that these policies have had a limited effect in reducing and controlling the abuse of illegal drugs in the streets. In the recent years, the have been some advancement on the fact that another effective approach needs to be implemented in order to combat the use of illegal drugs, addiction of these drugs has come out to be a health problem that needs treatment, medical intervention and counseling instead of imprisonment. In the United States, the population in the prisons has amplified from 300,000 to 2.3 million inmates in the last four decades. Among these inmates, only one in 3 adults in the United States prisons in on the system of parole or probation. This has proved to be expensive as the government at present expends more than 68 billion dollars annually on the prison sector. Therefore, jailing of offenders on use of illegal drugs is one of the main of the mass imprisonment in the United States prisons. There are also substantial signs that drug execution has averted resources from law application of violent offenses and other dangers to public well-being (Sandro 44). Drug offenders who show no previous history of drug abuse or any type of violence and no prior arrests usually face compulsory minimum sentences in excess of 25 years behind bars. A high total of drug low level offenders who have been found guilty end up receiving harsh sentences such as life imprisonment without the option of parole, this is due to the

Roman Empire Essay Example for Free

Roman Empire Essay The Roman Empire had stretched so large by the fourth century CE that it had several provincial capitals. The two most important political centers were Rome in the West and Constantinople in the East, which had formerly been called Byzantium. The emperor, Constantine the Great, rebuilt Byzantium to resemble â€Å"Old Rome,† and so this political center became known as the â€Å"New Rome.† Although those who lived in Constantinople referred to themselves as Romans and were part of the Roman Empire, historians now refer to the peoples of the Eastern Roman Empire as Byzantines. Though the Byzantine Empire no longer remains, evidence from the era exists across Southern Europe, North Africa, Southwest Asia, and beyond. The Byzantines are famous for their intricate mosaics, like the golden ones here inside a church in Istanbul, Turkey, which was once known as Constantinople, capital of the Byzantine Empire. How Did the Byzantines Continue the Roman Empire? By the end of the fourth century CE, the Roman Empire was permanently split into East and West. While the Byzantine Empire in the East thrived, the Western Roman Empire experienced a series of invasions, a declining economy, and poor leadership. In 476 CE, the last Roman emperor of the West, Romulus Augustulus, was overthrown by a Germanic prince named Odovacar. After the fall of Rome, Germanic kingdoms claimed former Roman lands. Roads and other public structures fell into disrepair. Likewise, trade and commerce in the West declined. Without a powerful Western Roman Empire, the Roman Catholic Church became a unifying and powerful force in western Europe. In contrast, Byzantine emperors in the East were successful in keeping a powerful army that they could send long distances. While the West was repeatedly invaded after the fourth century CE, the East succeeded in defending itself well enough that Constantinople survived nearly 1,000 years after the fall of Rome. Byzantine leaders co ntinued Roman law and traditions. The Byzantine emperor Justinian is well known for codifying Roman laws. In the process, the authors removed conflicting, duplicated, and outdated Roman laws. Also during Justinians reign, artists revived Hellenistic art and literature. Many historians credit the Byzantine Empire for todays knowledge of ancient Greek and Roman cultures. As the West went into decline, scholars in the East maintained great libraries and established schools for the study of ancient Greek and Roman history. They also continued Roman culture by combining it with aspects of peoples closer to Constantinople. Most Byzantines were Greek, but a mix of North Africans, Arabs, Persians, and Turks also lived within the borders of the Eastern Roman Empire. Latin was the official language of the Roman Empire, but more people spoke Greek in the East. Eventually Greek became the official language in the Byzantine Empire. How Did Christianity Develop in the Byzantine Empire? Time and distance from Rome caused the Byzantine Empire to develop practices that were different from the West. This was especially true of ChristianityByzantine emperors saw themselves as having authority over the whole Roman Empire, including the Catholic Church. The emperor had final authority on church matters. The Patriarch and otherbishops answered to the emperor. In the Byzantine Empire, the highest political authority and highest religious authority was the same person. However, in the West, kings and church leaders were separate, though kings answered to the popeChristianity helped unify the diverse people of the Byzantine Empire. Being head of the church gave the emperors the right to rule in the eyes of the people. Byzantine mosaics often show emperors with halos, emphasizing the connection to the church. The prominent role of Christianity in the empire is evident in the many Byzantine-era churches and the detailed works of art they contain. What Was the Iconoclast Controv ersy? In the eighth and ninth centuries, the Byzantine Empire is probably most famous for theiconoclasm controversy. An icon is a holy image or sculpture of a revered holy figure such as Jesus Christ or a saint. A saint is someone who is recognized as holy or virtuous by the Church. Byzantine art frequently used human forms and symbols to represent important ideas and figures in Christianity. A great debate arose over whether this type of practice, including veneration of the icons, was acceptable.iconoclasts, meaning icon breakers, were those who were against the practice. They feared it could lead to idolatry, forbidden by the Bible. How Did the Controversy Affect the Byzantine Empire? The iconoclast debate became a political issue that lasted more than 100 years. Many historians say it was also the greatest intellectual debate over the purpose of art. The pope and bishops in the West supported the use of icons, as did most Byzantine bishops. The practice had existed for centuries. As the emperor was head of the Byzantine church, he did not need support from church leaders to ban icons. In fact, people who continued to support icons during those times experiencedpersecution. What Other Issues Split East and West? The use of icons as religious symbols was not the only issue dividing the Eastern and Western churches. One was the use of leavened instead of unleavened bread in worship. Church leaders attached special importance to breads made with or without yeast, per quotes in the Bible. They disagreed on the proper interpretations. Another issue was the power of the pope, who saw the position of the emperor over the patriarch in the East as a challenge to his own authority. In addition, the importance of Constantinople as an important Christian city was in debate. Church leaders in the West objected to Byzantine emperors claims of Constantinople having equal importance to Rome. What Was the Great Schism? By 1054, the differences between East and West had grown too wide. That year, Pope Leo IX sent representatives to Constantinople. They insisted that Michael Cerularius, the patriarch of Constantinople, acknowledge the pope as his superior and Rome as the head of the Christian church. The delegates leader, acting on the popes behalf, excommunicated Cerularius. The patriarch excommunicated the delegates and the pope in return. This event marks the Great Schism, or split, in Christianity between East and West. The Church in the West became the Roman Catholic Church. The Eastern Orthodox Church continued to grow in the East, based in Constantinople. Roman Catholic Church| Similarities| Eastern Orthodox Church| * Latin was official language * Pope has highest authority, over kings and emperors as well * Priests cannot marry * Married couples could not divorce * Centered in Rome| * Both base teachings on Jesus and the Bible * Both offer sacraments, meaning special church services such as b aptism * Both have priests and bishops as church leaders * Both seek to convert others to Christianity| * Greek was official language * Patriarch and other bishops lead as a group * Emperor claimed authority over the patriarch * Priests can marry * Married couples could divorce under certain conditions * Centered in Constantinople| The Byzantine Empires culture was already spreading to Slavic and other peoples further east and north. Many of these groups converted to Eastern Orthodox Christianity, especially because of the work of saints Cyril and Methodius. St. Cyril was talented in learning languages and worked to create the first written alphabet for the Slavonic language. He and St. Methodius then were able to begin translating the Bible into the new alphabet. They were missionaries to the Slavs, credited with spreading Christianity and Byzantine influence. Western Roman Empire| Eastern (Byzantine) Empire| Latin was official language| Iconoclast controversy| Pope was highest authority| Orthodox Church| Catholic Church| Greek was official language| Excommunicated iconoclasts| Patriarch was highest church leader| Centered in Rome| Centered in Constantinople|

history of the Atomic Bomb :: essays research papers fc

History of the Atomic Bomb The atomic bomb1 is the most destructive weapon known to mankind. A bomb of this nature is capable of obliterating anything up to four square miles and anything reaching outside that area receives very extreme damage. Albert Einstein was the man who had convinced the United States to research the Atomic Bomb.   Ã‚  Ã‚  Ã‚  Ã‚  The Manhattan Project2 was the name given to the research and development of the atomic bomb. It was called the Manhattan Project after Manhattan Engineer District of the US Army Corps of Engineers, because most of the early research was done in New York. The person that was chosen to lead this project was General Leslie Grove and Robert Oppenheimer was appointed to lead the day-to-day running of the project. In order for an atom bomb to be produced the scientists had to separate the Uranium-235 from the much more common Uranium-238. The facility that was used to separate the Uranium-135 from the Uranium-238 was not held __________________________ 1 Atomic Bomb – Bomb using Uranium-235 for mass destruction. 2 Manhattan Project – Name given to the development and research of the atomic bomb in the U.S. in New York but in Oak Ridge, Tennessee. The cost of this project was two billion dollars, which is equivalent to 26 billion dollars in today’s world and the factories employed 200,000 people, that was more then the amount of people employed in the United States auto mobile industry.   Ã‚  Ã‚  Ã‚  Ã‚  When the first bomb was made a site in Alamogordo, New Mexico was chosen as the testing ground. In order for the bomb to explode, all the nuclei of the several grams of Uranium would have to be split. A sphere of Uranium the size of a baseball would cause an explosion that equaled the strength of 15,000 to 20,000 tons of TNT. When the bomb had exploded there was a tower and the explosion had turned the asphalt around the tower into green sand, the sky was extremely bright and seconds after the explosion came a huge blast that sent unbelievable heat across the desert. Also, there was a huge mushroom cloud that reached the sub-stratosphere that was at an elevation of 41,000 feet. 10,000 feet away a soldier was of right off his feet by the force of the shock wave and another soldier stationed five miles away was temporarily blinded. The explosion was able to be herd 50 miles away.

A Separate Peace, The Natural, The Scarlet Letter, and The Old Man and the Sea :: Separate Peace Essays

A Separate Peace, The Natural, The Scarlet Letter, and The Old Man and the Sea In the society-centered world that has existed for thousands of years, Emerson's and Thoreau's recommendation of living as a self-reliant individual can be a difficult task to accomplish. Society puts pressure on its members to conform to its standards. Nonconformists are shunned by society and as a result have difficulty retaining their nonconformist position. According to Emerson's Self-Reliance, though, this nonconformist, independent stance is the only thing that can bring a person peace. Emerson believes a truly great man lives in the world, but at the same time trusts himself, believes in himself, and is, in a word, independent. Many people have applied the ideas of Emerson and Thoreau not only to their lives, but also to the characters in books they have read, regardless of whether the author intended such interpretation. The ideas of Emerson and Thoreau can be applied to many of the novels we read in class this year, including The Natural, A Separate Peace, The Old Man and the Sea, and The Scarlet Letter. In each of these novels the main character experienced many difficulties in which he either succeeded or failed. The successes and failures of any particular character were a result of his self-reliance or of his society-reliance. In The Natural, by Bernard Malamud, the main character, Roy, failed to focus on what was best for him because of his reliance on society rather than on himself. This problem became evident early in the story when the woman Roy met on the train shot him. Had Roy focused on his game, perhaps gone out and practiced baseball rather than visited the woman, he never would have gotten shot. Having such skill as he had, he could have easily signed with the Cubs, and he could have had an extraordinary baseball career. Unfortunately for him, Roy put too high a priority on his relationship with the woman from the train. As a result, Roy's baseball career not only didn't start for another 10-15 years, but also was nothing compared to the career he would have had with the Cubs. Generally, people learn from their mistakes. As Malamud writes on page 217, "He [Roy] thought, I never did learn anything out of my past life, now I have to suffer again." Rather than straightening out his priorities in the years between the time he was shot and the time he actually played baseball, Roy made no change.

Basseri of Iran: Past and Present Essay

Basseri of Iran: Past and Present Jonathan Hixon ANT101 Instructor Brown-Warren February 24, 2013 When the Achamenian emperors of ancient Persia built their capital at Persepolis, in a valley of the Zagros, they did so with strategy in mind. Persepolis was placed in a common â€Å"bottleneck† in the annual migration routes of several tribes from the warm coastal plains to the cool summer pastures in the north. Twice a year, several whole confederations of tribes had to pass by Persepolis with all of their wealth in sheep, goats, and horses, and he who ruled Persepolis ruled what then was Persia. One of the tribes that still use this route today is the Basseri of Iran. (Coon, 1962) The Basseri of Iran was a nomadic pastoralist society from the beginning of their existence. The Basseri are located in southwest Iran and were housed in tents. Each tent housed a nuclear family and many tents made up a camp for the Basseri. An independent household occupied every tent in a camp. The tents were arranged in groups of smaller groups that usually would put all of their flocks of animals into one unit that was taken care of by one shepherd. A shepherd was usually a younger boy or girl from different tents that took care of the smaller camp’s flocks. Some families would hire a shepherd from other tents if they did not have the means to provide a qualified shepherd of their own. Nomadic pastoralists had no permanent settlements; instead, complete households shift location with the herd. House structures were highly moveable, such as a tent or yurt, a portable, felt-covered, wood lattice-framed dwelling structure used in the steppes of Central Asia among Kazakh and Kirghiz pastoralists. Pastoralists moved for a number of reasons other than following water and forage for their herds. Herders also moved to avoid neighboring peoples and government control, thus reducing disease, insects, and competition for resources, while abstaining from taxation and circumscription into military service. (Nowak & Laird, 2010) In the past, the Basseri of Iran were nomadic pastoralists, but the Basseri have started to come into a culture of a more advanced technological culture in today’s time. The Basseri have now become more dvanced in their culture with the world we all live in today while respecting the culture they came from in decades past. The social organization of the Basseri is clearly simple, but effective as a organized system of leadership. The Basseri chief is the head of a very strongly centralized political system and has immense authority over all the members of the Basseri tribe. The chief, in his dealing with the headmen, draws on their power and influenc e but does not delegate any of his own power back to them. Some material goods – mostly gifts of some economic and prestige value, such as riding horses and weapons – flow from the chief to the headmen. A headman is in a politically convenient position: he can communicate much more freely with the chief than can ordinary tribesmen, and thus can bring up cases that are to his own advantage and, to some extent, block or delay the discussion of matters detrimental to his own interests. Nonetheless, the political power that a headman derives from the chief is very limited. Johnson, 1996) The Basseri as noted are divided into camps of tents, which may or may not have a headman present in a particular camp. If a camp does not have a headman present, then that camp will usually have an informal leader who were recognized by the other headmen, but had no formal recognition by the Basseri chief. For this reason (not being formally recognized by the Basseri chief) the informal leaders still usually answered to an â€Å"official† h eadman in another camp which could bring things up before the chief if something needed to be addressed. The head of the household (or tent) would be the person responsible for bringing things up to an informal leader or a headman for discussion with the chief when things needed to be brought to the attention of the chief for social or political discussion. This political organization is not so hard to grasp as one of a huge population like we see in the United States. In summary, one could see that there are tents that housed families, a head of household for that tent, an informal leader or headman and finally the chief (who would be over many different camps and tents within those camps). This political organization would be closely compared to, for instance, a police department chain of command in where you have the chief, then the captains (compared to the headmen), then sergeants (informal leaders), corporals (heads of households), and finally the troops (members of the individual households). This was a way I could compare and understand the political organization of the Basseri people easily. The economic function of the Basseri was that of true importance to the tents/households ability to sustain themselves. The economic function of the Basseri lies in the occupancy of pastures throughout the migratory fashion of the Basseri. Tents are the basic element of the economic unit in the Basseri community. As much as they are social units, tents are also the basic units of production and consumption. In the summer, there might have been as many as thirty or forty tents that made up a camp; however in the winter months, camps were reduced down to approximately two to five tents and were separated from other camps by three or four kilometers. The Basseri keep a variety of domesticated animals, but sheep and goats have the greatest economic importance. Other domesticated animals include donkeys for transport and riding (mainly by women and children), horses for riding only (predominately by men), camels for heavy transport and wool, and dogs for keeping watch in camp. (Johnson, 1996) Their products obtained from their flocks sustain the Basseri community. The Basseris’ most important products for trade included milk, lambskins, and wool, in that order. The Basseri spins, weave wool and goat-hair, and make their own tent poles, pack-saddles, and cordage. The rest of their equipment is bought from townsmen and gypsies, their vegetable food from villagers. Some of the Basseri own village lands from which they receive shares of the crops. (Coon, 1962) Community members trade in their milk, hides and other animal products at bazaars in surrounding towns and use this money to purchase other types of food such as vegetables, clothing and other necessities. As John Dowling argues, it is informative to contrast the Basseri with another pastoral people, the Turkana of Tanganyika. Both the Basseri and the Turkana are nomadic, both have productive organizations that are family based, both pasture their animals on tribally owned lands to which all individuals have usufruct rights, and in both societies animals are culturally ascribed to individuals property. But the orientation of the Turkana pastoralist is vastly different than that of the Basseri. The Turkana pastoralist produces primarily for consumption, the Basseri for sale. (Dowling, 1975) Dowling goes on to say that the Basseri go frequently to the market, buying material for women’s clothing, men’s ready made clothing, goods of tanned leather (shoes, saddles, etc. ), wheat flour (a staple), sugar, tea, dates, fruits, vegetables, glass ware, china, metal articles (cooking utensils, etc. ), narcotics, luxury goods such as women’s jewelry and carpets, and, for those who are able, land. The Turkana could live without external trade; they are self-sufficient subsistence producers. The Basseri are market dependent. (Dowling, 1975) Gender roles of the Basseri were clearly defined and adhered to by the members of the Basseri camps and tents. The gender roles of the Basseri are clearly defined by the community. When it comes to the tent, all authority lies with the husband (head of household). The husband was the decision-making person in the household and all were expected to adhere to the decisions made by the husband. Women had less significant power and were generally their roles were to take care of the day-to-day domestic operations of the tent or household. Women were also considered part of a man’s wealth and it was quite common for a wealthy man to marry more than one wife. Daughters had no rights in choosing a marriage partner as this decision was solely made by the husband/father and the father of the boy the daughter was to marry. Most families viewed the girl children as a means of gaining wealth since they understood that the girl would attract a certain amount of bride wealth into the family. The boy child was of more use to the community as a whole. The boys could look after the herds (even though there were cases that I read where girls were allowed to do shepherding duties as well) and protect and help the communities in the struggle between other communities. Marriage among the Basseri was arranged and it was not possible for a girl of the tent to have much of a say in who she would marry. As stated before, the Basseri of Iran have households that are referred to as tents; within a tent, there were nuclear families that had members of households headed by the husband who was considered head of his tent or household. The husband or head of the tent was the one who made all arrangements for marriages of his sons and daughters under their tents. The husbands would discuss with members of other tents who show interests in his sons or daughters and together, they would arrange marriages between the sons and daughters of other tents or households. The parties that were to get married usually had very little options but to accept what had been decided for them and accepted the marriage. The father of the bride would have to pay the bride price in the form of livestock and would also be expected to give a share of his animals to the new couple as a form of inheritance. This inheritance ould form the means of subsistence for the newly married couple/family. A married man may arrange subsequent marriages for himself, whereas all women and unmarried boys are subject to the authority of a marriage guardian, who is the head of their household. The marriage contract is often drawn up and written by a nontribal ritual specialist, or holy man. It stipulates certain bride-payments for the girl and the domestic equipment she is expected to bring, and the divorce or widow’s insurance, which is a prearranged share of the husband’s estate, payable upon divorce or in the event of his death. Johnson, 1996) Basseri are slowly becoming more and more settled in todays society and some are moving away from the traditional nomadic pastoralist ways of culture and moving towards a more modern approach to life. While there are still nomadic pastoralists today among the Basseri, many of the Basseri have begun to settle down and become a more settled culture. Poverty and debt lead a household to consume their capital in livestock; this makes them poorer, which makes it harder to make ends meet. More capital is consumed, and with no alternative sources of wealth available, settlement is inevitable. (Bradburd, 1989) Successful Basseri build up their herds, accumulating hundreds or thousands of animals. Fearful of losing their wealth to disease and the vulnerabilities of nature, herders convert this capital into an alternative form of wealth, such as land in local villages. The land is cultivated by villagers as tenant farmers, including unsuccessful Basseri who lost their herds and ended up as agricultural laborers. Nowak & Laird, 2010) Bradburd argues that not only poor Basseri settled; wealthy Basseri were driven to settle both by the risks of pastoralism, which threatened them with a return to poverty, and by the fact that the economic realities of their situation did not provide a return commensurate with their risk. (Bradburd, 1989) With increased modernization, many of the Basseri have learned of other subsistence means that are more profitable and have shifted away from the traditional Basseri culture or pastoralists. Traditionally, the Basseri of south western Iran are nomadic pastoralists and they continue to be that way in today’s time, but the number of traditional nomadic pastoralists among the Basseri people a very few. Most Basseri have begun to move towards a more modern approach in living and have settled down in villages or even more urban areas to obtain jobs that sustain life easier than their ancestors had in previous years. In the past, the Basseri of Iran were nomadic pastoralists, but the Basseri have started to come into a culture of a more advanced technological culture in today’s time. The Basseri have now become more advanced in their culture with the world we all live in today while respecting the culture they came from in decades past. Most texts agree that many of the settled people in the southwestern area of Iran either were Basseri or are descendants of Basseri. Even though there are still traditional nomadic pastoralist Basseri in the region, they have become small in number; but the one’s that exist today, value their lifestyle and don’t want to change the way they have been living for many years.