Tuesday, January 21, 2020
Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money people are paid; how much they spend: what it costs to buy various items; how much money firms earn; how much money there is in total in the economy. But despite the large number of areas in which our lives are concerned with money, economics is more than just the study of money. It is concerned with: Ã · The production of goods and services: how much the economy produces; what particular combination of goods and services; how much each firm produces; what techniques of production they use; how many people they employ. Ã · The consumption of goods and services: how much the population as a whole spends (and how much it saves); what the pattern of consumption is in the economy; how much people buy of particular items; what particular individuals choose to buy; how peopleÃ¢â¬â¢s consumption is affected by prices, advertising, fashion and other factors. In 1932 Professor Lionel Robbins defined economics as Ã¢â¬Å" the science, which studies human behaviour as a relationship between ends and scarce means which have alternative uses.Ã¢â¬ Economics is simply the study of how society decides what, how and for whom to produce. In answering the questions what, how and for whom to produce, economics explains how scarce resources are allocated between competing claims on their use. The central economic problem is the problem of scarcity. ..
Monday, January 13, 2020
As our workforces grow more diverse every day, and customers are demanding better, faster, and less expensive service, companies are faced with the challenges to create and meet the changes necessary to remain in business. The organizational environment must also learn to assess the direction of these changes while also being able to respond successfully to those that roll in at a completely different direction than expected. The leadership required to handle these wonderfully tumultuous times, so that organizations in transition remain profitable, is crucial. TodayÃ¢â¬ s companies become successful based on their abilities to create and manage change. They can no longer survive without Ã¢â¬Å"Ã¢â¬ ¦ courage and imagination Ã¢â¬â the courage to challenge prevailing business models and the imagination to invent new markets. Ã¢â¬ As the globe continues to evolve into a marketplace with vanishing boundaries, competition becomes stronger, tighter, and smarter than ever before, ultimately forcing organizational change. The tidal strength of competition that has been upon us over the past few decades has fundamentally changed the Ã¢â¬Å"blueprintsÃ¢â¬ of many corporations and how they now need to be led. Businesses have awakened to the hard fact that leadership can no longer be defined by the effective management of people and systems, but most importantly by the effective leading of change. Leadership, or the lack thereof, is proving to be one of the most crucial determinants of whether organizations will survive and flourish in the next centuryÃ¢â¬ s business frontier. Ã¢â¬Å"We live in an era of organizational reengineering. To become or remain competitive, leaders often must realize improvement through radical change, or reengineering. As defined by Jon R. Katzenbach, author of Real Change Leaders, radical changes are: Those situations in which corporate performance requires most people throughout the organization to learn new behaviors and skills. These new skills must add up to a competitive advantage for the enterprise allowing it to produce better and better performance in shorter and shorter time frames. The changes that are most relevant are those that demand companies to redefine their organizations in order to profit from the changes or even just to endure them. Change, such as that which comes with new technology, comes so quickly and frequently that business are forced to develop new organizational models and practices. With the unrelenting evolution of technology, organizational structures have had to be reinvented. No longer do we find the centralized, multi-layered hierarchies that once offered organizations bureaucratic control over employees. Towering organizational structures are now collapsing into flatter pyramids with wider spans of control offering greater flexibility, cost-efficiency, and more interdependent departments capable of rapid action and reaction. As with advances in technology, economic, political, and socio-cultural environments are also faced with swift changes. Unfortunately, such a rapid rate of change can turn an organizationÃ¢â¬ s strengths into its weaknesses. Leaders must now think like change agents, because the issue is not only how new concepts and skills are acquired, but also how to unlearn things that are no longer serving the organization. This means that leaders must carefully examine organizational cultures and then reinvent them to promote and maintain success. The most important thing to understand, however, is that leaders cannot change culture arbitrarily in the sense of eradicating dysfunctional conditions. By evolving culture they can build on its strengths while diminishing its weaknesses. Ã¢â¬Å"Culture is Ã¢â¬ËchangedÃ¢â¬ Ã¢â¬ ¦ through changes in various key concepts in the mental models of people who are the main carriers of the culture. Note, however, that such transformations do not occur through announcements or formal programs. They occur through a genuine change in the leaderÃ¢â¬ s behaviorÃ¢â¬ ¦ Ã¢â¬ If culture cannot be manipulated through hard-core policy changes and formalities, how does a leader gain the loyalty of the organizationÃ¢â¬ s members? How does a leader influence others to voluntarily commit to his or her vision of where the company is going and how it will get there? Robert Rosen, assistant clinical professor of psychiatry and behavioral sciences at the George Washington School of Medicine tells us that Ã¢â¬Å"Americans are hungry for new leaders; emotionally intelligent leaders with vision and character who can guide their downsized organizations back to health and high performance. However, before they are willing to go through the growing pains of organizational changes, employees want to and must see that the leader is willing to Ã¢â¬Å"walk the talk! Ã¢â¬ The path of a leader is one of a trailblazer. Forging new ideas, concepts, and theories to raise the success level of those he or she is leading. Throughout history, there have been many leaders who have fundamentally changed the way the world viewed things such as freedom, politics, and the importance of forgiveness. These magnetic individuals are able to draw out not only their own magnificence, but also that of those who follow them. Within their skills to lead, they cultivate othersÃ¢â¬ abilities to rise above their difficulties and self-doubts. Leaders of truly positive change can breath life back into an organization that is on the edge of collapsing. With their abilities to instill values that reflect courage and respect in their followers, they also are more than willing to share in their visions for the future. If a leader truly wants to transform an organization that can and will endure the inevitable changes that the future holds, he or she must work to unify its members by building a shared vision with common values and direction. Vision is an essential element of leadership. It is a leaderÃ¢â¬ s image of what the company will produce or provide, where the company is headed to achieve those successes, and how it will arrive there. Ã¢â¬Å"Vision refers to a picture of the future with some implicit or explicit commentary on why people should strive to create that future. Ã¢â¬ It is also Ã¢â¬Å"Ã¢â¬ ¦ the [intuitive] ability to see the potential in or necessity of opportunities right in front of you. Ã¢â¬ Vision is necessary to clarify the necessity and actions of organizational changes. When people understand why they are going in a certain direction and they fundamentally agree with it, they are much more motivated and willing to put in the work it takes to see a leaderÃ¢â¬ s vision materialize. Ã¢â¬Å"Ã¢â¬ ¦ the real power of a vision is unleashed only when most of those involved in an enterprise or activity have a common understanding of its goals and direction. Ã¢â¬ When a journalist inquired about the remarkable success of the Hewlett-Packard corporation, David Packard spoke only in terms of the Ã¢â¬Å"Ã¢â¬ ¦ ttributes of immense operating freedom within well-defined objectives, the pay-as you-go policy that enforces entrepreneurial discipline, the critical decision to enable all employees to share in the companyÃ¢â¬ s financial success. Ã¢â¬ These organizational attributes are not just simple choices made to see if the organizationÃ¢â¬ s members would use them to assist the company in its successes; they are carefully thought out plans that began as someoneÃ¢â¬ s vision as to how the company could flourish through its people. To companies whose leaders mobilize their people and unleash their competence, creativity, and commitments, success is almost sure to follow. Once a leader has formed, articulated, and shared with the other members of the organization his or her visions for the future, those other people will be watching very closely to see just how much conviction the leader has in those visions. They expect leaders to show up, to pay attention, and to participate directly in the process of getting extraordinary things done. Leading by example is how leaders make visions and values tangible. It is how they provide the evidence that they are personally committed. That evidence is what people look for and admire in leaders, people whose direction they would willingly follow. This makes credibility a very important attribute that people look for in a successful leader. Those looking to a leader need to believe in that person; that he or she can be trusted; that he or she is truly excited about the direction that the companyÃ¢â¬ s heading. People expect their leaders to stand for something and to have the courage of their beliefs. It is also equally as important for the leader to know that his or her credibility is not being challenged. Leaders believe their personal credibility is more important than their formal position of power. Credibility is what they think enables them to inspire confidence among the people they must influence to take initiative and personal risk. The best leaders show their personal credibility both in what they have accomplished and in what they know about the change task at hand. Courage is another primary attribute of a successful leader. One of the greatest challenges for leaders of change is to develop the personal skills that are necessary to effectively generate and cultivate courage, in themselves as well as those around them. Ã¢â¬Å"They recognize that courage is really about making the connection between whatÃ¢â¬ s changing in the business world and what needs to change in their personal behaviors. They also recognize that personal change offers far more potential rewards than sticking with the status quo. As the hallmark of a true leader, courage is necessary to take risks, to create a vision, to empower others, and to challenge the current conditions of any situation. In The Art of War, Sun Tzu said: Ã¢â¬Å"Leadership is a matter of intelligence, trustworthiness, humanness, courage, and sternness. Ã¢â¬ The most essential aspect of how the leaders of the next century will sustain their companies is the continual facilitation of the people within their organizations as the primary factor for success. Although empowerment has become somewhat of a Ã¢â¬Å"buzzÃ¢â¬ word within the business arena, itÃ¢â¬ s power is nonetheless stronger than any other tool used by leaders to get results from people. Because in its most simple form, empowerment is sharing the decision-making process with others, it is closely related to courage. Those companies that have stood the test of time, such as Hewlett-Packard, Motorola, Nordstrom, and Wal-Mart have infused into their organizations the practices of empowering their employees. Leaders of the future must have the strength and fearlessness to go against the grain of old assumptions or paradigms. They must continue to trailblaze in their efforts to see that the organizations of the next century will remain in tact. They will be the encouragers of change for positive results; they will be the beacons that the others look to guide the ship through any storm; they will hold their heads high in recognition of success and have the courage to admit when outcomes are not what they had planned. TomorrowÃ¢â¬ s leaders of change rise to the occasion and take the others with them.
Saturday, January 4, 2020
In 1800 only 2% of the worldÃ¢â¬â¢s population lived in urban areas, today, more than half of the worldÃ¢â¬â¢s population lives in urban areas (Torrey). Urbanization is the movement of people from the countryside to towns and cities which result in the growth of urban areas. Many people choose to migrate to an urban area for a better social and economical lifestyle. With the massive amount of people already living in cities and a surplus of people migrating to cities, this results in unemployment. The rising unemployment rate also increases crime for those people because they suffer from a lack of resources. Most people from rural areas are not qualified to work in urban areas due to lack of education. Urban areas offer better job opportunities, hospitals, education, and entertainment. Many components affect urbanization like overpopulation, pollution, government negligence, and deforestation. One of the leading causes of urbanization is the people migrating from rural to urban areas. Already there are more than half of the population crowding urban areas and then there are even more people occupying space. People move to cities to find better jobs and live a better frugal lifestyle. Another primary cause is industrialization which manufactures and produces goods in factories; this pulls people in from rural areas. One issue in industrialization is the immense amount of air pollution it gives off. High levels of air pollution make the air filled with smog. The burning of fossilShow MoreRelatedElizabeth Gaskell : Effect Of Urbanization And Industrialization Within Urban And Rural Areas1521 Words Ã |Ã 7 Pagesindustrialization in England. With the increase of industry and growth of urban areas there was social and political unrest within these areas primarily, in working class people who had suffered through great mistreatment and unfair distribution of power. Mary Barton is a story that embodies the political philosophy of its author, Elizabeth Gaskell: The effect of urbanization and industrialization within urban and rural areas, the complex relationship between the upper and working classes, in particularRead MoreEssay The Implications of Rapid Urbanization1685 Words Ã |Ã 7 PagesUrbanization is the process of human migration from rural areas to towns and cities, thus rapid urbanization means that the rate at which the migration from rural to urban takes place is hurried that a country has no time to plan for their existence at the cities. The situation differs from country to country as the number of cities and rural areas in the countries are different. Another possible reason for the difference is the development nature of the countries; some countries are developed, othersRead MoreUrban Development And Urban Areas960 Words Ã |Ã 4 Pagesare migrating from the rural area to urban area for the searching the employment opportunities. In the processes increases the number of people living in the cities among those people who are living in the rural areas. In the process the day to day become a number of the people increased those who are migrating from the rural area to urban areas. Most of the people are migrating from the rural to urban because of good quality of facilities provided by the State. The urbanization is begun during theRead MoreRural Urban Migration Is An Inevitable Component Of The Development Process1548 Words Ã |Ã 7 Pagesphenomenon of rapid urbanization in less developed countries and in the absence of extensive industrialization, led to the emergence of illegal settlements and shanty towns, discuss the relationship between urbanization, poverty and development; and use a case study to illustrate the effects of rapid urbanization in LDCÃ¢â¬â¢s. Rural-urban migration occurs at varying rates in every country. This paper focuses on the process of rural-urban migration and its influence on urbanization in developing countriesRead MoreEffects Of Urbanization On Food Supply And Human Security885 Words Ã |Ã 4 Pageseffect of urbanization, arguing that major cities homogenize the physical environment in their attempt to meet the narrow needs of human beings without regard for indigenous species.McKinney identifies key challenges such as human disconnection from the natural environment which is a disadvantage of urbanization. The strength of this source lies in its relevance as it will provide sufficient information for the research topic with regard to the effects and disadvantages of urbanization. This bookRead More Urbanization in Africa Essays1090 Words Ã |Ã 5 PagesUrbanization is the movement from a rural society to an urban society, and involves a growth in the number of people in urban areas. Urban growth is increasing in both the developed but mostly in the developing countries. Urbanization is associated with the problems of unemployment, poverty, bad health, poor cleanliness, urban slums environmental deprivation. This causes a very big problem for these developing countries and who are some of poorest countries. Africa urbanization is not as big asRead MoreGlobal Population Growth And Its Impact On The Way That Humans Use Land Essay1565 Words Ã |Ã 7 PagesNations also estimate that, global urban populations will grow from 3.6 billion in 2011 to 6.3 billion in 2050, gaining 2.6 billion (UNESA, 2012). Based on these estimates, it is fair to assume that total global population growth will occur predominantly in urban areas and that global urban population growth will account for the total population increase as well as drawing in migration from the rural population to urban areas. As a further consequence, the global rural populations is expected to startRead MoreThe Construction Of The British Indian Urban Scene1448 Words Ã |Ã 6 Pagesmigration was very low. But due to degradation in village agrarian system, old chains began to break and process of migration to cities started in search of livelihoods. The nature of urbanization process changed with the arrival of the British East India Company. The major contributions of the British to the Indian urban scene were: the Establishment of three metropolitan port cities of Mumbai (Bombay), Kolkata (Calcutta) and Chennai (Madras) Beginning of a chain of hill stations in the Himalayan regionRead MoreThe Perceived Nature Of Contemporary Urban Life Essay1029 Words Ã |Ã 5 PagesThe Perceived Nature of Contemporary Urban Life Many writers are wondering whether the increased scale and proportion of the cities are exceeding human capabil- ities to live under conditions of security and mutual sup- port and concern. Some feel the sheer scale of urban life is forcing individual identity to yield to anonymity, indifference, and narrow self-interest. Commentaries on the growing fear, powerlessness, and anger of urban resi- dents are numerous. Yet, even against the backdrop ofRead MoreThe Major Problems Associated with Rapid Urbanization Essay1207 Words Ã |Ã 5 PagesUrbanization- Extended Study The definition of an urban area changes from country to country. In general, there are no standards, and each country develops its own set of criteria for distinguishing cities or urban areas. A city is generally defined as a political unit, i.e., a place organized and governed by an administrative body. A way of defining a city or an urban area is by the number of residents. Define- Urbanization Urbanization is the concentration of human populations into isolated areas
Friday, December 27, 2019
Who I am Four blue walls and a quaint window seat make up a room that contains all that defines me. Upon entering this room oneÃ¢â¬â¢s eyes fall immediately upon four key objects: a surfboard, Polaroid photos, an open book that is filled with writing in the margin, and a stereo. Each belonging is a puzzle piece, a part of who I am. When pieced together, Renee Swager is the resulting image. I keep these items in my room to shed light on who I am. On the first wall lies a surfboard. The mounted board is cratered and worn from summers spent surfing at Chincoteague Island, my home away from home. Surfing is my passion. Nothing compares to the serene feeling of paddling out into the vast ocean and waiting for a set of waves to roll in. It takesÃ¢â¬ ¦show more contentÃ¢â¬ ¦The book will always remain open because I am still making my path and daily look to the book for inspiration. Opposite this wall sits a black stereo on a white nightstand. Hundreds of songs of different genres have been played on this stereo throughout my years in high school. I find that indie rock and jazz music has caught my attention the most over the years. There is great contrast between these genres. However both are important to me because they evoke an emotion of happiness in different ways. In both genres the lyrics are written with purpose and a meaning. Both Nat King Cole and Dan Croll will share the spotlight on my stereo. A last glance back when exiting my room would make one think that it contains very little. Yet, I find that it holds all that I could ever hope for. It is not an abundance of material possessions that makes me feel complete. Instead, the words of Salinger, the hanging photos of smiling faces, and a mounted worn down surfboard while Nat King Cole sings Ã¢â¬Å"UnforgettableÃ¢â¬ in the background leave me feeling most myself. Young Justice I was born with a sense of righteousness before I even knew its meaning. If I ever felt that someone had wronged me or others I sought to make things right no matter what it took. My first quest for justice began at an early age of seven. I had always been proud of my mother for having been a nurse. She chose a life of helping others. Though she was no longer an active nurseShow MoreRelatedThe Beach Essay781 Words Ã |Ã 4 PagesDescriptive Essay- Beach, Vacation The place where I feel most comfortable is a place where I am calm. A place that is peaceful in its own ways. It is the place to go to get away from all my troubles. It is the one place where I could sit forever, and never get tired of just staring into the deepest blue I have ever seen. It is the place where I can sit and think the best. A place where nothing matters but what is in that little moment. The one place capable of sending my senses into an overloadRead MoreNarrative vs. Descriptive Writing977 Words Ã |Ã 4 Pages A narrative essay uses a point of view to tell a story. It is an engaging way for an author to tell his reader about an experience they have had or a personal story. Descriptive writing is a description of something. It could be a person, place, thing, emotion or experience. The author is allowed more artistic freedom when writing in descriptive form. While both descriptive and narrative essays are similar in many ways, the descriptive essays use of l anguage fully immerses the reader intoRead MoreReflection Of College Level Writing836 Words Ã |Ã 4 Pagesschool now to high-school, I have struggled with writing papers. I was not an excellent writer or rather the best writer. I had trouble with expressing my main idea of my paper whenever I was given a topic. Even though my teachers would tell me to brainstorm before I started writing, I still somehow struggled because I was better at letting ideas flow through my head as I write. I was not an expert at developing sentence structure or details as well. Over the course of my life, I have grown in these areasRead MoreHow Personal Responsibility Will Lead to My Success Essay1089 Words Ã |Ã 5 Pagesbut in their careers and life in general. Even though some people who lack personal responsibility do just fine in life, personal responsibility will lead to my success in and beyond school because it gives me the confidence to succeed, and will lead to a better life for my family and me. Now as to my approach for this paper I am writing this essay according to The Descriptive Essay (2011), The descriptive essay is a genre of essay that asks the student to describe an object, person, place, experienceRead MoreNarrative and Descriptive Essay1226 Words Ã |Ã 5 Pages Compare-Contrast Essay Eng121: English Composition I (AXC13480) Regina McKinney Professor: Nancy Segovia January 1, 2014 A narrative essay is about storytelling for a narrative story to work it must capture and hold the audience attention you must give a clear understanding of your story. A descriptive essay lets you describe in detail what the essay is all about using words that appeal to your sense of smell, hearing, see, touch, and taste. A descriptive essay lets you use words thatRead MoreThe Task Of Composing A Descriptive Essay1310 Words Ã |Ã 6 PagesRecently, my Composition I teacher assigned the class the task of composing a descriptive essay. This led me to the question, Ã¢â¬Å"what is a descriptive essay?Ã¢â¬ What topic could I possible write about for three whole pages? What have I done, seen, or experience that could fill these three long pages? My life thus far has been quite sheltered, so this has created quite the dilemma for me. Being that I am supposed to be descriptive, I feel the need to describe the stress that this has created for me. MyRead MoreMy First Year Experience Pro gram1134 Words Ã |Ã 5 Pagesof writing tools. During the course of this semester I became a stronger writer and well prepared for the rest of my college career here at Pacific Lutheran University by improving my vocabulary, being more descriptive and altering my writing process to be more successful. The Writing 101 assignment that I have chosen best demonstrates my progress as a writer is our Personal Narrative Essay. Though this was our first essay of the semester, I did receive my highest grade on this assignment and believesRead MoreLoss of Freedom in Sedaris This Old House and Angelous Caged Bird1274 Words Ã |Ã 6 Pageswriting, and Angelou explores her concerns through descriptive writing with the analogy of a bird, they still are exploring the similar topic of perceived loss. The loss of freedom, demonstrated by the demand to uphold a family image, versus the caged bird, remain very similar in both pieces due to perceived entrapment, disappointment and self-nonentity. Descriptive essays leave room for misinterpretation and confusion, where as a narrative essay is straightforward and to the point. The loss of freedomRead MoreSummary Of Prescriptive Writing By David Foster Wallace1066 Words Ã |Ã 5 PagesDavid Foster Wallace was an eccentric, well organized writer who described to me the fine lines between descriptive and prescriptive writing. I learned that descriptivism is far more valuable than prescriptivism. With the help of a couple past English courses, I was able to construct my ability to write both an effective, abstract essay while maintaining a prescriptive skeleton. Course such as mythology, my seventh grade english course, and my sophomore year English course are all examples of classesRead MoreEthical and Psychological Hedonism Essay1395 Words Ã |Ã 6 Pagesdiscussed) but when defined in terms of values, one is descriptive and the other is normative. Neither ethical nor psychological hedonism is perfect, I believe, though each has important strengths which offer the basis for discussion. Additionally, some arguments and ideas presented by Robert Nozick in his essay Ã¢â¬Å"The Experience MachineÃ¢â¬ prove relevant to the discussion of hedonism, where Nozick concludes by disagreeing with the hedonistÃ¢â¬â¢s ideas. I will start by defining the two versions of hedonism
Thursday, December 19, 2019
Sam Anderson Ms.Ruiz Honors World Literature 0 Period 6 October 2017 Human Nature, Law, and English Boys Humans created moral law to govern themselves, and be able to exist in civilized society, but people are arrogant and break these rules in order to gain control and power over others. Lord of the Flies, a novel by William Golding, describes, using HobbesÃ¢â¬â¢ theory of human nature needing laws in order to stay civilized, a group of boys attempting to create a society. Lord of the Flies is a story of a group of boys who crash landed on an island and are trying to create a functioning society with a government. HobbesÃ¢â¬â¢ theory of human nature says that human societies need laws in order to stay civilized and not fall into savagery. TheÃ¢â¬ ¦show more contentÃ¢â¬ ¦From the very beginning the boys listen to RalphÃ¢â¬â¢s suggestions. The group has heard suggestions from Piggy, Jack and Ralph but have only listened to the boy with the, Ã¢â¬Å"size, and attractive appearance,Ã¢â¬ which shows their low standards for leaders. The boy s base their decisions on the aesthetic appeal of Ralph instead of his capability of leadership. The most powerful thing affecting the decision was the conch, a major symbol of power and control. The conch is something that summons and silences the boys, and allows them to speak during meetings. HobbesÃ¢â¬â¢ theory says that human nature is basically selfish and therefore they follow the leader who is most likely to give them what they want. Ralph demonstrates what the boys want in that he calls for a vote, giving all they boys control over their society. The boys are interested by Ralph which causes them to want to keep him around as something to marvel at so they make him the leader. Toward the end of the novel, Piggy criticizes the behavior of the boys in JackÃ¢â¬â¢s society which causes them to become very angry. Roger, on the cliff above them, uses the lever to push a boulder aimed at Piggy. Golding wrote, Ã¢â¬Å"... the conch exploded into a thousand white fragmen ts and ceased to exist. PiggyÃ¢â¬ ¦traveled through the air sideways from the rock, turning over as he went. ... Piggy fell forty feet and landed on his back across the square red rock in theShow MoreRelatedEssay on Their Inner Creature721 Words Ã |Ã 3 Pagesprevents the boys from having a perfect and stable society. William Golding, the author of the novel, states Ã¢â¬Å"the theme is an attempt to trace the defects of society back to the defects of human natureÃ¢â¬ (204). His negativity about human nature and his idea that evil is an inborn characteristic can be seen through the story as the behavior of the boys brings their inner creature into existence. Ã¢â¬Å"Weve got to have rules and obey them. After all, were not savages. Were English, and the English are bestRead MoreThe Concept Of State Of Nature918 Words Ã |Ã 4 PagesState of Nature A British philosopher and an egoist, Thomas Hobbes believes that humans are selfish by nature. He believes that we are all potential enemies and that we need authorities such as police, the military and courts of law to protects us from each other. He also believes that laws and morality only exist due to fear of living in a state of chaos and conflict. Hobbes describes life without any incentive to be good as Ã¢â¬Å"nasty, brutish and shortÃ¢â¬ otherwise known as State of Nature. When HobbesRead MoreSymbolism In Lord Of The Flies824 Words Ã |Ã 4 Pages were not savages. Were English, and the English are best at everythingÃ¢â¬â¢ (Golding 42). Evident from the events that take place throughout the book, however, the opposite is true. According to GoldingÃ¢â¬â¢s Lord of the Flies, society is unable to function without a clear set of rules, and when those rules are taken away, people kids. When to their original savage state. As proven in Lord of the Flies, things go south quickly when rules arenÃ¢â¬â¢t set in place. When the boys are first stranded on theRead MoreSurvive in the Lord of the Flies by William Golding Essay813 Words Ã |Ã 4 PagesWhen humans are pushed to survive, they are willing to do anything to do so. In the novel Ã¢â¬Å"Lord of the FliesÃ¢â¬ by William Golding, a group of boys are stranded on an island and have to survive, however as the story progresses the boys become more barbaric and savage like. Even though there are good people in this world, there will always be evil. Why does evil exist? GoldingÃ¢â¬â¢s belief of human nature is that humans are naturally evil and savage. However, law and civility keep humans from turning intoRead MoreVicious Leadership in Lord of The Flies1156 Words Ã |Ã 5 Pagestheir evil nature get to them. While millions of innocent people were tortured and killed, those that were responsible of this gruesome act, watched from the side. The break d own or the survival of a society depends on the people that builds it. If one was to lose his composure and let his true nature, that is to let the darkness in him take over, it would be the end of the hard built nation. The Lord Of The Flies, is a good example of what will happen to a society when one let its true nature take overRead MoreGood Versus Evil in Lord of the Flies by William Golding Essay1235 Words Ã |Ã 5 PagesGood vs. Evil Many years ago, Charles Darwin introduced a theory that we humans are a species which evolved from animals that have inhabited the Earth for many years, and he believed that we were civilized, intelligent, and logical life forms for these very reasons. In the novel, Lord of the Flies by William Golding there is a prominent theme of good versus evil which reveals that maybe humans are not the civilized human beings that they were said to be. William Golding carefully netted this themeRead MoreLord of the Flies was created by William Golding, an English novelist that studied at Oxford where1500 Words Ã |Ã 6 Pages Lord of the Flies was created by William Golding, an English novelist that studied at Oxford where the experience allowed for his writing to grow and develop. The main purpose of the novel was to portray the struggle of a group of boys in the era of war. It is aligned off of personal experiences the author had in World War II, the severity and insanity allowed him to have a corrupted view on the world and everything inside of it (Ã¢â¬Å"William Golding,Ã¢â¬ N.P.). Much like Oxford, being apart of theRead MoreAnalysis Of The Novel The Great God Pan 941 Words Ã |Ã 4 PagesArthur Machen and H.G. Wells were one of the most influential writers in the history of the English language. Through their works, both Machen and Wells illustrated the themes of sexuality and horror by exploring the idea of the supernatural. However, MachenÃ¢â¬â¢s gothic novella The Great God Pan (1894) and H.G. WellsÃ¢â¬â¢ sci-fi novel The Island of Dr. Moreau (1896) further exemplified the theme of h umankindÃ¢â¬â¢s relationship to God. In the late Victorian period, the influence of religious mythology fell uponRead MoreLord of the Flies Literary Analysis853 Words Ã |Ã 4 PagesLord of the Flies, a novel by William Golding, reflects upon the very core of human beings. Golding described human beings as innately evil. He also showed readers that all it takes to bring humansÃ¢â¬â¢ true nature out is by being in an unknown environment that is free of laws. Being surrounded by mysterious creatures in an unknown land, the stranded boys are left for dead. In the small world without adults, the boys slowly corrupt in to follow their instinct to satisfy their immediate desires. Read MoreAfrican Legal Issues: he Sowth African Law and The English Law1144 Words Ã |Ã 5 Pagesin dispute all around the world. The legal aspects of this defence will be briefly discussed in terms of the South African- as well as the English law. As of the S v Goliath case, the South African view i n this particular matter has been established as for the notion of killing another person out of necessity, and has since stayed unchanged. The English Law does not regard the defence of necessity as a justification, but rather as an excuse to a crime, which is then classified as duress. Seen as
Wednesday, December 11, 2019
Question: Discuss the management of Equity and Debt as part of the long term funding requirements of companies. (See the marking scheme below). In addition, select two non-financial companies listed on the London Stock Market and analyse the published financial statements for the last 5 years, comparing the proportion of Equity and Debt for each company. This analysis should be based on financial ratios and be clearly linked to the management of Equity and Debt, as discussed above. (See the marking scheme below). Detailed calculations of specific and relevant financial values and ratios must be included, together with appropriate graphs/charts. Your assessment must contain an Introduction, Conclusion and Recommendation detailing the results of your analysis. Answer: Introduction The aim of this report is to analyse the debt and equity financing for business organisations in the context of real world. Marks and Spencer (MS) and Tesco Plc are selected as the two case organizations to discuss the various concepts related to equity and finance. This report includes the debt and equity ratio analysis of the selected organizations. The main purpose of this report is to make a comparison between selected organizations on the basis of debt and equity ratios. Financing is one of the important concerns for operating any business. There are two major sources for financing that are used by companies for meeting their capital need such as equity financing and debt financing. Equity financing refers to raising funds through issue of IPOs and secondary shares in capital market (Brigham and Ehrhardt, 2016). Debt financing refers to the borrowing fund from financial institutions. This fund needs to be repaid by the company at specified time period along with the interest. Most of the companies use these two sources for their course of business. Equity is generally required for the start of business and debt is used for financing current assets that are easily convertible in cash (Bragg, 2011). However, both types of finances are required by the companies for varied purposes. Equity Financing: Under equity financing, a company issues shares in the capital market for raising capital for business. Equity financing is most important at the time of initial stages of business, as early start-up of business seeks huge funds. Financing of funding needs through bank loan can be very costly. For this reason, equity financing matters at initial start-up stage in a company. But at the same time, equity financing has certain limitations like dilution of control, which can impact quality of managerial decisions of company. People like to invest in shares of companies, because they enjoy greater return over their investment as compared to other investment assets. They earn return over investment in the form of dividend offered by company and capital appreciation benefits due to raise in price of share. Equity financing is an appropriate for both Tesco and MS, because there is no need of repayment on principle amount of financing in whole life of company. In addition to this, there is no fixed burden of payment of dividend like in case of debt financing. It is on companys discretion to retain the profit of business for further investment or to distribute the profits in the form of dividends among shareholders. Description/Purpose/Contrast of the Management of Equity: Main purpose of equity finance is to fulfill funding needs of a business entity. It is cost effective source of financing to company as compared to rest of sources such as bank loan, venture capital, hire purchase etc. The purpose of equity source is also to serve investment need of investors. Due to financing decisions of companies through equity, investors get opportunity of investment in IPOs, which is an attractive investment instrument. The ownership of equity shares gives a right to investors to play an essential role in the management of the company. This way, it enables investors to participate in companys decision making process (MS, 2016). Equity is the source through which the investors are granted an ownership. A company may use the funds of investors finance major investment projects as well as to cover the start up cost. In addition to this, company may use this cash flow for diversifying business in other areas. Equity financing is a cost effective source of financing, because investors typically dont expect an immediate return on their investment (Lerner et al., 2012). Further, equity financing is less risky than the debt financing, because the money of investors doesnt needs pay back. There are two methods of equity financing that are used by small business firms such as private placement and the public stock offerings. Private placement is very simple and commonly used source of financing in capital market of UK. Private placements are generally regulated by HMRC and London Stock Exchange. Companies do not require any type of formal registration in the London Stock Exchange (LSE) for use of this source of financing. In contrast of this, financing through public stock offerings is typically a lengthy and expensive process, as it requires for the registration for securities under London Stock Exchange (LSE) and UKLA (i.e. UK Listing Authority) (Laryea, 2010). But public stock offerings may lead to dilution of control in company that is harmful for managerial decision making. Equity financing also plays important role in creditworthiness of a company, as it affects the debt-equity ratio of company. A company, whose debt-equity ratio is less than 1, is considered to be more creditworthy as compared to business entity with equity ratio greater than 1. Companies with high value of debt to equity ratio face high financial cost that is harmful for net profit position of company. Debt Financing: Debt financing can be defined as the activity of financing business needs through borrowing of loans or issue of debt instrument. Financing through debt instruments or bank loan is more costly as compared to equity financing, as the principle amount of loan needs to rapid after a certain period. Along with this, the interest charged by banks is very high. Both MS and Tesco use debt financing as a source of finance for meeting funding need in business. The value of long term debt of MS is 1727000 (in thousands). On the other hand, total debts of Tesco Plc is recorded as 10623000 (in thousands), which is very high as compared to MS (Yahoo Finance, 2016). It means the total debt burden over Tesco is high as compared to MS. Over-dependence on debt financing can be harmful for profitability and sustainability of companies. Description/Purpose/Contrasts of the Management of Debt: Debt financing is an important financial source for meeting the capital needs in business. A debt is helpful to maintain the ownership of business, because it does not lead to dilution of control as in case of equity financing. This source of financing offers tax benefits to the company, because interest expense over debt is a tax deductible expense of company. If a business properly use the debt then it will be helpful to enhance the return on assets (Peterson and Fabozzi, 2012). Selection of debt financing over equity financing offers greater control over business. Lenders charge an interest amount for the use of borrowed amount, but they dont have any right of participation in managerial decisions of company. But for large organizations like MS and Tesco, it is not possible to solely base their business on debt instruments. Debt financing is appropriate for companies that are looking for a growth strategy, and the current debt position of company is very low as compared to equity position. The activity of debt financing includes both long term and short term loan. Generally, short term loan is used by companies for meeting current needs such as operational funding need, and the working capital need. In case of long term loan, business firms focus on raising capital for long term investment needs like investment in machineries, investment in building development, and the investment in furniture/fixture (Weil et al., 2013). There are different business institutions that offer short and long term loans such as bank and commercial lenders, commercial finance companies, and government financing programs. Calculation and Analysis of Ratios of Tesco and MS: Debt and Equity Ratios of TESCO: Tesco is the British multinational company in retail sector. It was founded in 1919 by Jack Cohen. Tesco is the second largest retailer in the world. It is listed on London Stock Exchange. The market capitalization of Tesco is approximately 18.1 billion (in 2015). Debt ratio indicates relationship between the total liabilities and total share holders equity of the company. Low debt to equity ratio indicates lower risk for the company and higher debt to equity ratio indicates higher risk (Tesco, 2013). According to the below calculation, it can be seen that Debt to equity ratio of Tesco is continuously increasing that means companys dependence over debt financing is continuously increasing with time, which is not good for creditworthiness of company. Equity ratio of the company represents the amount of asset that is owned by the investors. In general, a higher equity ratio is favorable for the companies. According to the below calculation, it can be seen that equity ratio of the Tesco is showing fluctuation in the last five financial years (Tesco, 2015). But, overall, the equity ratio of Tesco has decline from 35.25 in 2011 to 15.99. The equity ratio tells about proportion of total assets that are financed by stockholders fund. The decline in equity ratio is not good from companys creditworthiness point of view. Name of the ratio Formula 2011 2012 2013 2014 2015 Debt to equity ratio Total Liabilities/ Total equity*100 107.12 108.48 199.13 232.63 525.21 Total liabilities 17807 20117 33186 34249 37138 Total Equity 16623 18544 16661 14722 7071 Equity Ratio Total Equity/ Total Asset*100 35.25 36.51 33.23 29.34 15.99 Total equity 16623 18544 16661 14722 7071 Total assets 47146 50781 50129 50164 44214 Debt and Equity Ratios of MS: Marks Spencer plc is a British multinational company in the retail sector. It was founded in 1884 by Sir Michael Thomas Spencer. Headquarter of this company is situated at London, UK. MS is listed on London Stock Exchange. It is specialized in selling cloths, home products and luxury food products (Tesco Annual Report, 2012). Debt to equity ratio depicts relationship between total debt and total equity of company. This ratio is used by investors and banking institutions while taking investment decisions and sanctioning loan. The debt to equity ratio of the MS is showing fluctuation in different years, but it has continuously increased in last five year (MS, 2013). Management of MS needs to focus on improving the debt-equity ratio of company for ensuring creditworthiness in the market. Equity ratio is a financial ratio that indicates the portion of total assets, which is financed through equity capital. Equity ratio throws a light on the overall financial strength of the company. A higher equity position of a company indicates the better long-term solvency position of company (Tesco Annual Report, 2014). Equity ratio of MS has been continuously fluctuating from 2011 to 2015. It can be analyzed from below table, that equity ratio of MS has increased from 36.45 in 2011 to 39.01 in 2015. This means, companys reliance on equity capital than borrowed capital has increased, which is good for its creditworthiness in market. Name of the ratio Formula 2011 2012 2013 2014 2015 Debt to equity ratio Total Liabilities/ Total equity*100 174.33 100 202.02 191.94 156.25 Total liabilities 4667 2779 5091 5196 4997 Total Equity 2677 2779 2520 2707 3198 Equity Ratio Total Equity/ Total Asset*100 36.45 38.20 33.10 34.25 39.01 Total equity 2677 2779 2520 2707 3198 Total assets 7344 7273 7611 7903 8196 Graph of Debt and Equity Ratio between Tesco and MS: Comparison of Debt to Equity ratio of Tesco and MS: Generally, the aim of both the companies is to maintain fair debt-equity ratio. This ratio directly affects the financial risk of an organization. Debt-Equity ratio of the Tesco as compared to MS was low in 2011, but it has become very high than MS in 2015 (Tesco Annual Report, 2015). This indicates the decline in competitive credit worthiness of Tesco. It is not good for the investors and lender, because it increases the business risk and cost of financing for Tesco. Debt and Equity ratio of MS is fluctuated between the years 2011 to 2015. It is not a bad thing but it indicates that the debt structure of the MS is not fixed (Marks Spencer annual report, 2012). But, the financial creditworthiness of Tesco is good as compared to MS, because the debt to equity ratio of Tesco is very low as compared to MS. Graph of Equity Ratio of Tesco and MS: Comparison of Equity ratio of Tesco and MS: In above chart, the blue line is indicating equity ratio of MS. On the other hand, equity ratio of Tesco is represented by red line. Equity ratio is measure of the portion of total asset, which is financed by stockholders capital. This ratio is calculated by using the market value of the total assets and shareholders equity. Equity ratio of the MS has increased from 2011 to 2015. In contrast to this, the equity ratio of Tesco has declined significantly from 2011 to 2015, which can negatively affect the public image of company and its credit worthiness in market. It is indicating that company has financed most of its assets through debt financing than equity financing. It can negatively affect the profit position of company due to increased cost of financing activities. Equity ratio of the MS is fluctuated between the 30-40 ranges that mean the equity structure of the MS is not fixed (Marks Spencer annual report, 2014). Overall financial position of MS is better than Tesco. Conclusion From the above discussion, it can be concluded that equity and debt are the main sources of financing for operating business. Based on the financial ratio analysis, it was found that MSs capital structure is highly leveraged as compared to that of Tesco. Debt and equity ratio of Tesco are continuously increasing year by year, which indicates increase in debt burden of company. Additionally, Marks Spencer will face a higher risk due to high value of debt component in its capital structure. On the basis of debt to equity and equity ratio, this report concludes that overall financial position of Tesco is better than Marks Spencer. Recommendation: On the basis of above discussion, it can be recommended to Marks Spencer that it should make some strategy to improve its capital structure. MS has a high leverage ratio that is indicating that the growth of company is funded primarily by debt in the long run. The debt burden on company is very high, which can negatively affect its sustainability in market. This can be improved by focus on equity financing than debt. Along with this, the company should try to increase its sales and profitability through focus on business development strategies. MS may also focus on marketing activities, promotional offers and business diversification strategies for stimulating its growth rate. Reference Laryea, T. (2010) Approaches to Corporate Debt Restructuring. US: International Monetary Fund. Lerner, J., Leamon, A., and Hardymon, F. (2012) Venture Capital, Private Equity, and the Financing of Entrepreneurship. US: Wiley. MS (2016) about us. [online]. Available at: https://corporate.marksandspencer.com/aboutus (Accessed: 12 September 2016). Marks Spencer annual report (2012) Consolidated statement of financial position. [online]. Available at: https://corporate.marksandspencer.com/media/b78e6f56a12d4fc3abacfe70e945c28c (Accessed: 12 September 2016). Marks Spencer annual report (2013) Consolidated statement of financial position. [online]. Available at: https://corporate.marksandspencer.com/investors/bd98d01715ca4f688360624bb0486304 (Accessed: 12 September 2016). Marks Spencer annual report (2014) Consolidated statement of financial position. [online]. Available at: https://www.portalchemy.com/Report.asp?arYear=2014sharecode=MKS.L (Accessed: 12 September 2016). Marks Spencer annual report (2015) Consolidated statement of financial position. [online]. Available at: https://www.portalchemy.com/Report.asp?arYear=2015sharecode=MKS.L (Accessed: 12 September 2016). Peterson, P.P., and Fabozzi, J.F. (2012) Analysis of Financial Statements. US: John Wiley Sons. Tesco Annual Report (2012) Group Balance Sheet. [online]. Available at: https://www.tescoplc.com/files/pdf/reports/tesco_annual_report_2012.pdf (Accessed: 12 September 2016). Tesco Annual Report (2013) Group Balance Sheet. [online]. Available at: https://www.tescoplc.com/media/1456/tesco_annual_report_2013.pdf (Accessed: 12 September 2016). Tesco Annual Report (2014) Group Balance Sheet. [online]. Available at: https://www.tescoplc.com/media/264147/annual_report_14.pdf (Accessed: 12 September 2016). Tesco Annual Report (2014) Group Balance Sheet. [online]. Available at: https://www.tescoplc.com/files/pdf/reports/ar15/download_annual_report.pdf (Accessed: 12 September 2016). Weil, L.R., Schipper, K., and Freancis, J. (2013) Financial Accounting: An Introduction to Concepts, Methods and Uses. US: Cengage Learning. Brigham, E.F., and Ehrhardt, C.M. (2016) Financial Management: Theory Practice. US: Cengage Learning. Bragg, M.S. (2011) Obtaining Debt Financing. US: John Wiley Sons. Yahoo Finance (2016) Balance Sheet. [Online]. Available at: https://uk.finance.yahoo.com/q/bs?s=TSCO.Lannual (Accessed: 15 September 2016).
Wednesday, December 4, 2019
For many years, music has been associated with positive impacts on human beings vis-a-vis reducing stress levels. Specifically, many studies have established that music could be utilised to alleviate anxiety and reduce heart rate in contexts that are exemplified by clinical laboratory events (Brattico et al. 2003; Sokhadze 2007).Advertising We will write a custom essay sample on Using Songs to Help Patients specifically for you for only $16.05 $11/page Learn More Nowadays, clinicians use songs to help patients to cope with pain that is associated with some medical procedures. Some studies have also correlated the use of melodies with elimination of clinical symptoms that typify some disorders, for example, epilepsy and ParkinsonÃ¢â¬â¢s disease (Nilsson 2008; Sokhadze 2007). However, some scientists are controversial with regard to the health benefits of songs, such as stress reduction. Due to the controversy, some studies have been conducted to evaluat e the benefits of melodies in relation to helping patients with dementia. It is worth noting that several methodological weaknesses have been identified (Sokhadze 2007). It is evident that better research designs would be required to help scholars to evaluate and decipher the effects of songs on human behaviour. In fact, such studies would focus on understanding both physiological and psychological impacts of music (Brattico et al. 2003). Many researchers have attempted to correlate physiological effects with melodies. For example, it is known that Ã¢â¬Å"affective visual and auditory stimulation could be linked to musicÃ¢â¬ (Sokhadze 2007, p. 37). Stimuli that are intended to result in visual and audio effects have been shown to cause changes that are detectable by CNS and ANS. However, few studies have been conducted to evaluate physiological changes that exemplify both CNS and ANS when both audio and visual mechanisms of the body are initiated. On the contrary, many scholars h ave concentrated on understanding either ANS or CNS mechanisms with regard to music (Sokhadze 2007). That notwithstanding, it is essential to note that emotional reactions that are linked to the functions of affective pictures have been studied widely. Generally, specific physiological measures, such as brain activity parameters, and duo dimensions of feelings have been correlated (Sokhadze 2007).Advertising Looking for essay on alternative medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Inconsistent results have also been reported in relation to cardiovascular responses to melodies. In fact, it could be concluded that most of the inconsistencies could be caused by methodological variations that happen during music selection. For example, Knight and Richard (2001) note that blood pressure could be reduced when people listen to sedative music. The relationship between melodies and the activities of the cortical region of the brain ha s been reported (Brattico et al. 2003). Brattico and colleagues (2003) argue that songs can cause calming and stimulating effects on the brain, which results from the extent to which the cortical region is activated by music stimuli. A study Sokhadze (2007) showed that music could have negative and/or positive, which could result in modulatory impacts on the respiratory and cardiovascular systems. However, it was demonstrated that the impacts of pleasant songs showed a high level of variability in relation to parameters such as heart rate and peripheral blood flow. References Brattico, E, Jacobsen, T, Baene, W, Nakai, N, Tervaniemi, M, 2003, Ã¢â¬ËElectrical brain responses to descriptive versus evaluative judgments of musicÃ¢â¬â¢, Annals of the New York Academy of Sciences, vol. 999, no. 1, pp. 155-157. Knight, WE, Rickard, NS, 2001, Ã¢â¬ËRelaxing music prevents stress-induced increases in subjective anxiety, systolic blood pressure, and heart rate in healthy males and femal esÃ¢â¬â¢, Journal of music therapy, vol. 38, no. 4, pp. 254-272. Nilsson, U, 2008, Ã¢â¬ËThe anxiety-and pain-reducing effects of music interventions: a systematic reviewÃ¢â¬â¢, AORN journal, vol. 87, no. 4, pp. 780-807. Sokhadze, EM, 2007, Ã¢â¬ËEffects of music on the recovery of autonomic and electrocortical activity after stress induced by aversive visual stimuliÃ¢â¬â¢, Applied psychophysiology and biofeedback, vol. 32, no. 1, pp. 31-50.Advertising We will write a custom essay sample on Using Songs to Help Patients specifically for you for only $16.05 $11/page Learn More This essay on Using Songs to Help Patients was written and submitted by user Kimber A. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.