The Financial Crisis and Its Impact on China Research Paper

The Financial Crisis and Its Impact on China - Research Paper Example Chinese economy has never relied on the dangerous Western money related measures. They rather treasure their stores. Despite this made sure about state, Chinese economy endured variances The worldwide money related emergency has begun shaking the Chinese economy as the far reaching influence from American economy has exacerbated the previously falling Chinese markets. Overall interest for their fares has been diminished. This brought about the halting of residential modern creation. Industrial facilities have been cut off and the representatives lay that prompted joblessness and fights. Towards the finish of 2008 they declared a $586 billion upgrade bundle focused towards bettering development and residential utilization in ten distinct areas of Chinese society. Foundation speculation, calamity reproduction, ecological security measures are a portion of the parts that have been contacted. The bundle is relied upon to help iron and steel areas, concrete makers and certain different en terprises through the venture put on foundation. The new advance additionally improved development by taking off advance quantities on loan specialists and raising credit for various undertakings that help rustic regions and little scope organizations. Government has perceived the segments where they truly felt decrease and declared bundles that can raise the economy. They have made decrease in loan costs and gave assets for framework development. Steps have additionally been taken to improve land deals. China has likewise declared substantial refunds on charges put on exporters. In the second from last quarter of the year 2008 the development rate was only nine percent. This is the slowest rate the country has seen over the most recent five years. China has additionally confronted a sequential fall in lodging costs. Other mechanical divisions like materials, data innovation and power creation have additionally experienced decrease. China isn't intensely influenced by the budgetary emergency like different nations in light of its shut monetary framework. They are anyway influenced by the money related emergency in countless manners. Different nations that have been fallen on account of emergency encourage China to broaden a money related assistance hand by raising its own fares. A little lull in the money related development pace of China is relied upon to bring enormous outcomes. Certain financial matters have cautioned that China will experience a genuine downturn regardless of whether its development rate falls somewhat underneath six percent. Chinese should keep in any event nine percent development rate to keep up its developing work power and take ranchers to the urban divisions. The worldwide money related emergency has injured various parts of Chinese economy despite the fact that the genuine effect isn't totally noticeable in the year on year examination. The most obvious effect of the emergency is the misfortune found in send out situated light indus try in China. A large number of organizations have fallen; a great many specialists have lost their positions. As per the official reports in excess of ten million transient laborers have lost their positions and came back to their local areas. Businesses in China have been exceptionally influenced due to the monetary emergency. It has seriously influenced the gear fabricating industry. Chinese government needed to present hardware producing change and boosting plan for countering the fall. Need is given to the hardware fabricating part. This division has been redesigned and bolstered by government. Autonomous advancement has been energized; this

buy custom The Healthcare Reform essay

purchase custom The Healthcare Reform paper While the discussion on human services change goes on, Democrats and Republicans are taking rival sides. Democrats need an administration run social insurance while Republicans are for state-directed medicinal services approaches. In the middle of these two positions, we have one late change that must be tended to if at all the establishing American soul is as yet alive. This particular change requires no sides, no political will or monetary back up. It just needs us to be human. Americans with previous conditions, particularly of fatal illnesses like disease, diabetes, Aids, heart entanglements and so on, have been uncovered from getting to clinical inclusion over the most recent three decades (George, 2007). The couple of protection covers accessible for them are costly to such an extent that, when combined with their ever-rising and interminable hospital expenses accumulated while dealing with the conditions, the spreads are illogical and exploitative. The very residents, whose affection for the country perseveres through, the ones we stroll nearby in the city, are being denied clinical spread since they were sufficiently unfortunate to get fatal illnesses. This are our dads, moms, sibling, sisters, children and girls. It is time thatCongress denied the soul of independence, the soul of the dead covering their dead, and resuscitates the very soul of solidarity that was the establishment on which our country came to fruition. America is characterized by solidarity, by patriotism and by ethics of balance. Congress should, as direly as yesterday, agree in closure the hindrances that deny inclusion to terminally wiped out Americans who are needing clinical help. This isn't about expenses of social insurance, it isn't even about state control of a dynamic industry, it isn't about specialists and wellbeing plans security, it isn't about occupations and speculations, it is tied in with being human. A window making due on a penny worth compensation to raise her four kids may never get to clinical inclusion in her young life. In any case, when the youngsters grow up, they may choose to compensate her adoration and dedication with a clinical spread, just that at that point she has just been determined to have malignant growth. Today, such a lady, a saint to the American economy, one who partakes in the obligation of building the country, making good on assessments and demonstrating the lives of American young people, is left by the sidelines since she was stupid enough not to get clinical spread before creating carcinogenic cells. Is that Ameericanism? She speaks to a million and one nationalists of this country who can't get to clinical spread as a result of prior conditions when they can bear the cost of such a spread (George, 2007). Congress can plan virtuoso strategies to address this shamefulness and barbaric circumstance. For example one such arrangement can be figured as, The law will regard any forswearing of clinical spread to an invested individual as separation. To provide food for extra dangers in covering people with previous conditions, the premiums must not likewise be expanded past those of people without prior conditions. It will anyway be legitimate to diminish the sums payable to claims made by people with prior conditions. Teddy Roosevelt called for changes in light of the fact that there was something inborn in being American. Something thoughtful, something borne of cognizance to do great, something that makes us the single most noteworthy country on earth. Practically all features of US human services change can't pause, yet this one must not pause. Annulling the hindrances that segregate our debilitated friends and family from clinical inclusion is something American, independent of our Democrat or Republican direction. Purchase custom The Healthcare Reform article

Performance Management at Vitality Health Case free essay sample

So as to play out the activity necessities an individual must show various aptitudes and gifts. For instance, the individual who fills the position must do the accompanying: * Decide whether the examination has business application * Move patent applications forward * Consult with the board on corporate procedure * Teach, oversee, and help subordinate specialists * Develop first rate logical research So as to be effective in playing out the previously mentioned obligations, the candidate must have significant level research aptitudes, relational abilities, authority aptitudes, the executives aptitudes, authoritative aptitudes, showcasing aptitudes, time the board abilities, specialized logical information, and so forth. Errand Identity-7 Justification: In request to effectively fill this activity, an individual must see every one of the important assignments in playing out a given task. An individual must have the option to see their own undertakings from beginning to end and the capacity to distinguish explicit errands is basic to do as such. Errand Significance 6 Justification: Vitality anticipates that their scientist should have an effect science. We will compose a custom exposition test on Execution Management at Vitality Health Case or then again any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The specialist can do as such by delivering excellent logical writing and introducing at gatherings for logical writing. Essentialness anticipates the logical commitments of the specialist to be deserving of accepting licenses. The commitments of the examination can largy affect individuals, on ladies explicitly. As we probably am aware, restorative items are critical to numerous ladies. Additionally, dietary enhancements can assist with improving an individual’s by and large wellbeing. Accordingly, investigate forward leaps at Vitality can have a huge and enduring effect. Self-governance 6 Justification: Overall, the researcher at Vitality appears to have total opportunity over the tasks that he/she wishes to take on. The undertaking must meet the accompanying prerequisites: lines up with corporate methodology, gets management’s endorsement and has business applications. Criticism Scores 4 Justification: Currently, assessments are led once per year. It might be alluring to lead assessments all the more every now and again. Additionally, there is some inquiry with respect to the fittingness of managers’ appraisals. Some vibe that they are tentative in their evaluations so as to stay away from struggle. It has been accounted for that directors are telling the workers they got one rating, while authoritatively giving them another, or by turning the great appraisals to various representatives every year. MPS = (6 + 7 + 6)/3 * 6 * 4 = 152 2. Both the value and anticipation speculations of inspiration can be utilized to show why researcher turnover at Vitality Health was fundamentally happening among the more beneficial researchers under the old execution the executives framework. Value Theory: Equity hypothesis causes us to comprehend why the researcher turnover at Vitality Health was essentially connected with the more profitable researchers leaving for better openings for work. On the off chance that applying the value hypothesis of inspiration, a researcher at Vitality Health would decide the reasonableness of what he/she is getting comparative with what he/she is placing in, contrasted with others. For instance, Vitality Health utilized a rating framework comprising of 13 distinctive rating levels. Be that as it may, chiefs were liable of mishandling the framework. They were reluctant to outrage representatives. Accordingly, researchers wound up with rather homogenous evaluations paying little mind to their real execution. At the end of the day, paying little mind to top-performing scientists’ input (execution), their presentation evaluations (yield) were like the exhibition appraisals of the low-performing researchers. Moreover, these presentation evaluations were utilized to decide merit-based compensation increments. In this way, despite the fact that genuine presentation was distinctive among low and top entertainers, because of comparable execution evaluations, merit-based pay increments were comparable. Thus, top-performing researchers felt that they were dealt with inadequately comparable to their commitment. The imbalance felt by high-performing researcher assists with clarifying the turnover of such researchers at Vitality Health. Hope Theory: Salaries would in general be 7%-8% higher at Vitality Health than the opposition. Be that as it may, the compensation model was centered around a level pay. Along these lines, there were next to zero arrangements for rewards or elective types of remuneration. The hope hypothesis of inspiration is connected in a couple of ways. While applying the hope hypothesis, researchers at Vitality Health would pose themselves three inquiries. To begin with, â€Å"Will my exertion lead to superior? † Scientists had full oversight over their exertion. Therefore, it is presumably sheltered to state that more prominent exertion would prompt more noteworthy execution for a researcher. Second, â€Å"Will execution lead to results? † at the end of the day, will expanded execution lead to higher remuneration or better evaluations? On account of researchers at Vitality Health, in light of the homogenous exhibition appraisals and level compensation pay model, it is impossible that better would prompt both of these results. The third and last inquiries researchers would pose to themselves is, â€Å"Do I discover the results attractive? † Do the high-performing researchers need to be appraised equivalent to their low-performing partners? Would they like to be remunerated comparatively? On the off chance that cash were a result, is that the remuneration I want for my exertion and execution? In spite of the fact that, researchers can control their exertion, and in this manner control their exhibition, the way that presentation prompts horrible and bothersome results represents why researcher turnover at Vitality Health was basically happening among high-performing researchers. 3. Old SystemNew System An E framework, chiefs didn’t need to annoy representatives, so they just gave B and C ratings| The rating levels are constrained to four alternatives so all the levels are utilized and examination is more visible| Job Evaluation Points for pay, with a worth various, in light of occupation position| Uses measurements to rate workers endeavors and accomplishments rather than simply work description| Percentage salary increase depends on where they at present substitute industry pay grade. Individuals paid above industry normal get littler percent raise than comparable execution by somebody who is paid underneath industry normal. Representatives are contrasted with each other instead of to preset industry measures, or contrasted with self-assertive evaluation marks| No arrangement for rewards, level rates over the table, yet all were at 7-8% over competition| Forces administrators to rank their workers above or underneath each other| | Compensation is currently money based, however value is involved| | Performance-based compensation| The greatest distinction is by all accounts that the old framework would just accurately repay somebody for their endeavors the first occasion when they produce well. From that point forward, their pay increments at a more slow rate than peers paying little heed to their adequacy. Despite the fact that individuals were paid 7-8% over the business midpoints, the structure of the remuneration caused individuals to feel underestimated and in the end drove numerous to degrade the minor commitment to the organization. The new framework is an endeavor to concentrate the compensation on execution estimations and wipe out free-riding by failing to meet expectations workers. By expanding the relationship of execution to pay, the minor endeavors of a worker turns out to be progressively important to them. In the event that the MPS for Ramp;D researchers were 160, the new exhibition the board framework would energize greater efficiency. A high MPS implies a particular range of abilities with a lot of errand personality. Accordingly, the framework that is more centered around compensating accomplishments as opposed to work title would advance increasingly engaged exertion from researchers. Additionally, it is hard to contrast the researchers with the business as a result of their theoretical set of working responsibilities. On the off chance that the MPS for Ramp;D researchers were 60, the old execution the board framework would energize greater profitability. In the event that the position scored lower in task character and self-governance, and in this way justified a lower MPS, a framework dependent on work position as opposed to execution would be progressively suitable. The prescribed changes to improve the viability of the presentation the executives framework * Make execution surveys quarterly instead of every year. This will build the handiness of them and take out the weight of having them attached so near remuneration benefits. * Under the new evaluating classes, the â€Å"achiever† positioning is excessively loaded with representatives with a chosen few above and an abandoned not many underneath. This doesn't fix the past issue of the entirety of the rankings of workers being assembled. One other option, is to rank the representatives as people, AND as groups. Along these lines they feel commonly liable for a constructive result and no one thinks about it literally if a poor rating is gotten. * It seems one of the fundamental protests against the new framework is that it is excessively near from worker to representative. One arrangement is to define up work objectives/accomplishments that are target that every worker must accomplish so as to acquire their pay. At that point, they may set additional objectives to go after on the off chance that they want further pay in reward design. This would guarantee that pay depends on each individual’s exertion, as opposed to how they contrast with different representatives. 5. Successful objectives that Ramp;D chiefs could set for Ramp;D researchers: * Increase individual yearly forward leaps by 20 percent in the following year. * Publish two articles, every year, in critical logical diaries or present at two essential logical gatherings. This will improve the individual abilities of the Ramp;D researcher, and advance the name and research of Vitality Health in the open circle. * Improve in any event two existing items every year with the end goal that the items accomplish

Is Patriotism Good or Bad - Free Essay Example

This book talks about an array of subtopics pertaining to war. Being a veteran war correspondent, the author has witnessed many atrocities and has photographed it as well. He speaks upon the dangers of war some of which include upon corrupt politics, destroying culture, and riding of basic human desires and rights. This ties in with the harms of patriotism, making people blind to the real truth of war. Parker addresses the importance that patriotism plays in predicting political attitudes and preferences. He states that it is a complex subject and not easy to understand, nor fully comprehend as it is still unresolved. He does go into explaining the difference between blind patriotism and symbolic patriotism. Symbolic representing something abstract, being attached to the nation by its core values. Whereas, blind patriotism is more concrete, having uncritical support for the country’s practices and policies it has in place. They may be different, but the outcome for both are relatively the same. The article goes into depth with this discussion. I originally began my research paper as being the harms of patriotism, but the more I researched, the more it contradicted itself. This article shows the importance of patriotism in law, the different roles it plays, and the multiple areas of patriotism there really is. It isn’t all about supporting a country at war with another country, but it plays a vital role in believing certain laws can change, upholding democratic politics, and proper representation throughout. This article touches on these areas as well. The article mostly focuses on patriotism being properly understood by students at law school, to understand it being essential for upholding an American democracy and creating change within. This article takes a different stance on patriotism. The author discusses what she believes is true, patriotism being good for our country but for one specific reason one may not agree with. She states that we have gone away too far from the â€Å"ideals and truths† that founded this country. Now, the rest of the article she speaks upon war veterans, troops, and basically anything pertaining to war. She then finishes by attempting to get the reader to join her in celebrating past war heroes and current soldiers. Which is respectable, but is this what patriotism is? A celebration of war? The love of one’s country signifies only thinking of war and anything related? This article is about reaching a new understanding on patriotism. These students are attempting to figure out answers and choices that go above â€Å"feel-good patriotism.† They attempt to show the ability to think and have opposing ideas instead of simply choosing the politically correct ideal. Different students and even teachers share whar patriotism means to them, and it all varies. Some believe it involves ones ultimate commitment to the country, and another believes being a good citizen and getting involved with progress of its country. This article’s main point comes from a study they conducted between Whites and Latinos on the topic of patriotism and threat, and how those two play a vital role on peoples’ immigration attitudes. They suggest that patriotism influences certain degrees of threat, and this threat drives the immigration attitudes one might have. The study showed that this link and attitudes are different between Whites and Latinos. The article also talks about the different types of patriotism, Latinos having the same level of patriotism as Whites but a different form of it. Public Policy is also discussed throughout the study. References: Kahne, Joseph, and Ellen Middaugh. â€Å"Is Patriotism Good for Democracy? A Study of High School Seniors’ Patriotic Commitments.† Phi Delta Kappan, vol. 87, no. 8, 2006, pp. 600-607. ProQuest, https://login.ezp.pasadena.edu/login?url=https://search-proquest-com.ezp.pasadena.edu/docview/218489406?accountid=28371. This article reflects seniors in high school and their meaning and beliefs when it comes to patriotism, as well as how it ties in with democracy. They discuss what they believe determines the students’ levels of patriotism aligning with the need of a democratic society. This analysis was to help students better understand patriotism that supports a democratic society, it’s values and practices as well. Lastly, they helped them create the bridge from one’s love for their country and progressive ideals. McCleary, Daniel F., Meagan L. Nalls, and Robert L. Williams. Types of Patriotism as Primary Predictors of Continuing Support for the Iraq War.† Journal of Political and Military Sociology, vol. 37, no. 1, 2009, pp. 77-0_4. Web Article. ProQuest, https://login.ezp.pasadena.edu/login?url=https://search-proquest-com.ezp.pasadena.edu/docview/1314367014?accountid=28371. This article focuses on a study conducted of 230 undergraduate students’ responses to a survey which measured different forms of patriotism, war, civil liberties, and more. It showed that blind patriotism, specifically, was the primary reason why students showed support for the war in Iraq, much above constructive patriotism. It also goes into depth what stepwise regression and path analyses is, both tools they used while conducting this study and survey. It shows that there are different types of patriotism, and not all should be judged equally alike. Parker, Christopher S. Symbolic Versus Blind Patriotism: Distinction without Difference? Political Research Quarterly, vol. 63, no. 1, 2010, pp. 97-114. ProQuest, https://login.ezp.pasadena.edu/login?url=https://search-proquest-com.ezp.pasadena.edu/docview/215332713?accountid=28371, doi:https://dx.doi.org.ezp.pasadena.edu/10.1177/1065912908327228. Player, Corrie, Lynne. â€Å"Patriotism is Good For All of Us.† The Spectrum, 2008:Print. Parker, Richard D. Homeland: An Essay on Patriotism. Harvard Journal of Law and Public Policy, vol. 25, no. 2, 2002, pp. 407-427. ProQuest, https://login.ezp.pasadena.edu/login?url=https://search-proquest-com.ezp.pasadena.edu/docview/235188675?accountid=28371. Vogt, Tom. Students Seek Understanding Beyond Feel-Good Patriotism. Columbian, Jul 04, 2003, pp. A4. ProQuest, https://login.ezp.pasadena.edu/login?url=https://search-proquest-com.ezp.pasadena.edu/docview/253181914?accountid=28371. Willis-Esqueda, Cynthia. â€Å"Patriotism and the Impact on Perceived Threat and Immigration Attitudes.† The Journal of Social Psychology, vol 157, no. 1, 2017, pp. 114-125. Print.

The Credit Risk Of Banks Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2138 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The aim of the study is to assess the credit risk management of major banks in Mauritius. This chapter presents the review of related research of the component credit risk management. Banks main activities and operations are based on the management of wide range of equity capital, assets and liabilities. Don’t waste time! Our writers will create an original "The Credit Risk Of Banks Finance Essay" essay for you Create order Greuning, H.V and Bratanovic, S.B (2003) pointed out that Adequate risk management is therefore a must and forms part of effective banking operation. Common cited risks include; operational risk, liquidity risk, interest rate risk and credit risk. All these risks arise while banks perform their most fundamental and traditional role of lending and borrowing. According to the consultative paper issued by the Basel committee on bank supervisions (1999), credit risk continues to remain one of the biggest sources of risk for banking institutions throughout the world. This is due to the fact that loan portfolio of banks is the largest asset and the main source of revenue. Also, credit risk is associated with potential fluctuations of the stream of cash flows of an asset. It is often pointed to be responsible for bank failure. Hence, to improve their credit risk management, monitoring and assessment, banks have been using a number of tools and methods over the past 20 years. Improving actual systems and implementing new systems to evaluate certain types of loan more efficiently, objectively and accurately to better mitigate credit risk and improve portfolio performance is an ongoing process in the banking sector of Mauritius. (John B 2011) said that credit risk is one of the oldest and most major forms of risk faced by banks as financial intermediaries. Since this particular risk has the power of wiping out enough of a banks capital to force it into bankruptcy, managing this kind of risk has always been one of the predominant challenges in running a bank smoothly. (Broll, Pausch and Welzel, 2002). 2.1 The Credit Risk of Banks 2.1.1 Another Definition The Monetary Authority of Singapore (2006) defined credit risk as the risk derived from the doubtfulness of an obligors capability to perform its contractual obligations, where the term obligator refers to any party that has a direct or indirect obligation under a contract. It also state that credit risk could rise from both on and off balance sheet transactions. Moreover, financial instruments like; options, futures, swaps, foreign exchange, guarantee and others also contribute to credit exposure of banks. (Blommertein 2005) defined credit risk as the possible loss, known as probability of default, that could arise if the counterparties fail to meet their financial obligations, not only in present time but in future time also. Credit risk is also known as default risk or counter party risk. According to the BCBS (2001), it is defined as the possibility of losing the outstanding loan partially or totally, due to credit events. Credit risk therefore measures the portion of the loan that is exposed to default risk (Basu, 1997, 2002a). (Andrew 2002) add that credit risk is the risk that a counterpart defaults and the bank losses all its market position or that part which is irrecoverable. 2.1.2 Categories of Credit Risk To gain a better understanding on the nature of credit risk, it is necessary to introduce the types of credit risk involved in financial activities before any further discussion. Concerning the categorizing of credit risk, different authors have expressed various criteria. Horcher (2005), who defines six types of credit risk, including default risk, counterparty pre-settlement risk, counterparty settlement risk, legal risk, country or sovereign risk and concentration risk. However, since legal risk is more likely to be considered as independent or belonging to operational risk nowadays (see HSBC 2006 annual report, Casu, Girardone and Molyneux 2006, etc) and concentration risk, together with adverse selection as well as moral hazar d, is more reasonably to be thought of as an important issue in managing credit risk rather than a type of the risk itself (see Duffie and Singleton 2003), in the following illustration, only the rest four kinds of credit risk mentioned by Horcher (2005) will be touched upon. Default Risk According to Horcher (2005), traditional credit risk relates to the default on a payment, especially lending or sales. And a likelihood of the default is called the probability of default. When a default occurs, the amount at risk may be as much as the whole liability, which can be recovered later, depending on factors like the creditors legal status. However, later collections are generally difficult or even impossible in that huge outstanding obligations or losses are usually the reasons why organizations fail. Counter Party Pre-Settlement Risk Pre-settlement risk arises from the possibility that the counterparty will default once a contract has been entered into but a settlement stil l does not occur. During this period, a contract has unrealized gains, which indicates the risk. The potential loss to the organization depends on how market rates have changed since the establishment of the original contract, which can be evaluated in terms of current and potential exposure to the organization (Horcher 2005). Counter Party Settlement Risk According to Casu, Girardone and Molyneux (2006), settlement risk is a risk typically faced in the interbank market and it refers to the situation where one party to a contract fails to pay money or deliver assets to another party at the settlement time, which can be associated with any timing differences in settlement. Horcher (2005) points out that the risk is often related with foreign exchange trading, where payments in different money centers are not made simultaneously and volumes are huge. The case of the small German bank Bankhaus Herstatt, which received payments from its foreign exchange counterparties but had yet to make payments to counterparty financial institutions on the shutting down date, can serve as a typical example for the failure caused by settlement risk (Heffernan 1996). Country or Sovereign Risk Country risk arises due to the impact of deteriorating foreign economic, social and political conditions on overseas transactions and sovereign risk refers to the possibility that governments may enforce their authority to declare debt to external lenders void or modify the movements of profits, interest and capital under some economic or political pressure (Casu, Girardone and Molyneux 2006). Then as Horcher (2005) has concluded, since evidence shows that countries and governments have temporarily or permanently imposed controls on capital, prevented cross-border payments and suspended debt repayments etc, problems arise for issuers to fulfill obligations in such environment. Also financial crisis may precipitate sometimes. 2.1.3 Identifying Credit Risk Exposures in Banks Generally, credit risk is related to the traditional bank lending activities, while it also comes from holding bonds and other securities. Basel (1999a) reports that for most banks, loans are the largest and most obvious source of credit risk; however, throughout the activities of a bank, which include in the banking book as well as in the trading book, and both on and off the balance sheet, there are also other sources of credit risk. Various financial instruments including acceptances, interbank transactions, financial futures, guarantees, etc increase banks credit risk. Therefore, it is indispensable to identify all the credit exposures the possible sources of credit risk for most banks, which can also serve as a starting point for the following parts of this work. A. On-Balance Sheet Exposures Loans According to Saunders and Cornett (2006), the major types of bank loans are commercial and industrial (CI), real estate, consumer and others. Commercial and industrial loan s can be made for periods from a few weeks to several years for financing firms working capital needs or credit needs respectively. Real estate loans are primarily mortgage loans whose size, price and maturity differ widely from CI loans. Consumer loans refer to those such as personal and auto loans while the so called other loans include a wide variety of borrowers such as other banks, nonblank financial institutions and so on. Credit risk is the predominant risk in bank loans. Over the decades the credit quality of many banks lending has attracted a large amount of attention. The only change is on the focus of the problems from bank loans to less developed countries and commercial real estate loans to auto loans as well as credit cards, which is an American example. Since the default risk is usually present to some degrees in all loans (Saunders and Cornett 2006), the individual loan and loan portfolio management is undoubtedly crucial in banks credit risk management. Nonper forming Loan Portfolio According to Hennie (2003), nonperforming loans are those not generating income, and loans are often treated as nonperforming when principal or interest is due and left unpaid for 90 days or more. Thus the nonperforming loan portfolio is a very important indication of the banks credit risk exposure and lending decisions quality. Debt Securities Besides lending, credit risk also exists in banks traditional area of debt securities investing. Debt securities are debt instruments in the form of bonds, notes, certificates of deposits, etc, which are issued by governments, quasi-government bodies or large corporations to raise capital.1 In general, the issuer promises to pay coupon on regular basis through the life of the instrument and the stated principal will be repaid at maturity time. However, the likelihood that the issuer will default always exists, resulting in the loss of interest or even the principal to banks, which can be a damaging impact. B . Off-Balance Sheet Exposures Since the 1980s, off-balance sheet commitments have grown rapidly in major banks, among which there are swaps, forward rate agreements, bankers acceptances, revolving underwriting facilities, etc. (Hull 1989). Those commitments give rise to new types of credit risk from the possibility of default by the counterparty. In this section, some of the off-balance sheet credit exposures will be introduced, among which the first one is related to derivative contracts. Derivatives Contracts According to Saunders and Cornett (2006), banks can be dealers of derivatives that act as counterparties in trades with customers for a fee. Contingent credit risk is quite likely to be present when banks expand their positions in derivative contracts. Since the counterparty may default on payment obligations to truncate current and future losses, risk will arise, which leaves the banks unhedged and having to substitute the contract at todays interest rates and price s. This is also more likely to happen when the banks are in the money and the counterparty is losing heavily on the contract. Comparatively, the type of credit (default) risk is more serious for forward contracts and swap contracts, which are nonstandard ones entered into bilaterally by negotiating parties. While trading in options, futures or other similar contracts may expose banks to lower credit risk since contracts are held directly with the exchange and there are margining requirements. However, the credit risk is also not negligible. Guarantees and Acceptances Bank Guarantee is an undertaking from the bank which ensures that the liabilities of a debtor will be met, while a bankers acceptance is an obligation by a bank to pay the face value of a bill of exchange on maturity (Basel 1986). It is mentioned by Basel (1986) that since guarantees and acceptances are obligations to stand behind a third party, they should be treated as direct credit substitutes, whose credit ris k is equivalent to that of a loan to the ultimate borrower or to the drawer of the instrument. In this sense, it is clear that there is a full risk exposure in these off balance sheet activities. Interbank Transactions Banks send the bulk of the wholesale dollar payments through wire transfer systems such as the Clearing House Interbank Payments System (CHIPS). The funds or payments messages sent on the CHIPS network within the day are provisional, which are only settled at the end of the day. Therefore, when a major fraud is discovered in a banks book during the day, which may cause an immediate shutting down, its counterparty bank will not receive the promised payments and may not be able to meet the payment commitments to other banks, leaving a serious plight. As pointed out by Saunders and Cornett (2006), the essential feature of the above kind of settlement risk in interbank transactions is that, banks are exposed to a within-day, or intraday, credit risk that does not ap pear on its balance sheet, which needs to be carefully dealt with. Loan Commitments A loan commitment is a formal offer by a lending bank with the explicit terms under which it agrees to lend to a firm a certain maximum amount at given interest rate over a certain period of time. In this activity, contingent credit risk exists in setting the interest or formula rate on a loan commitment. According to Saunders and Cornett (2006), banks often add a risk premium based on its current assessment of the creditworthiness of the borrower, and then in the case that the borrowing firm gets into difficulty during the commitment period, the bank will be exposed to dramatic declines in borrower creditworthiness, since the premium is preset before the downgrade.

Essay The Man Who Was Almost A Man by Richard Wright

The Man Who Was Almost A Man by Richard Wright In life, there are many decisions that everyone must make. And with decision-making comes consequences, some that we are ready for , and some that we may not be ready for. The author of The Man Who Was Almost a Man, Richard Wright, portrays a young man who wants to be a man, but shows that he is clearly unprepared for manhood and the consequences that come with that responsibility. Through decision making based on self interest, wanting to gain respect from his family, and wanting to prove his dignity, Richard Wright brings forth the main character, Dave, a seventeen year old boy, whose actions show that he is only almost a man. Throughout the story, many of Dave?s†¦show more content†¦In Dave?s case, his immaturity was displayed and showed that he was not yet ready to be a man. With Dave feeling as if he is no longer a boy, he felt he deserved respect. Dave wanted the entire town to respect him but really yearned for it mostly from his parents. He worked hard in the fields and the money that he earned went to his mother. ?Ol? man Hawkins give yuh mah money yit?,? Dave said to his mother. He felt that since he did the work, then he should get the money, or at least some of it. After killing the mule in an accident, Dave also wanted to regain the respect of his boss and the other townspeople. They tormented him for his immaturity and he wanted badly to change his perception and earn his respect back. ? All the crowd was laughing now.? The townspeople were laughing at ?Dave right after he accidentally shot the mule. ?Dave really wanted to be treated like a man but it seemed as if it would never happen. ?Damn em all Nobody ever gave him anything. All he did was work. They treat me like a mule, n then they beat me.? Dave was not ready for the consequences that he would have to face for shooting the mule. It was an accident but he had to stand up to it. ?Dave?s decision to purchase the gun was questionable but his decision to disobey his mother by hiding the gun was more insane. The author of ? The Man Who Was Almost a Man,? Richard Wright, developed a beautiful title for this short story becauseShow MoreRelatedThe Man Who Was Almost A Man By Richard Wright1896 Words   |  8 Pagesof the most important moments in a man’s life is when he realizes he is no longer a boy. Often times this evolution in social status occurs without deliberate attempt. In the literary work entitled, â€Å"The Man Who Was Almost a Man†, Richard Wright outlines a story about a young boy named Dave, who struggles with his own perception of manhood. Throughout this story Dave wrestles with the societal concept of hegemonic masculinity and tries to force his way into manhood. Hegemonic masculinity, a pot entiallyRead MoreSummary Of Richard Wright s The Of The Man Who Was Almost A Man 1031 Words   |  5 Pages224 10 November 2015 The Struggle to Manhood In the world of â€Å"The Man Who Was Almost a Man†, Dave is the seventeen year old main character and narrator of Richard Wright’s short story. Dave is an African American sharecropper who lives with his family on a white plantation owner’s land. Set in the Jim Crow South, independence is a trait that not many Americans possess. Under Jim Crow laws, the status of an African American man is undermined. It is humiliating to many of the men it affects becauseRead MoreRichard Wright s The Man Who Was Almost A Man And William Faulkner s Barn Burning1248 Words   |  5 Pagesas they are impressionable at an early age. Father figures play a critical role in the development of the main characters in both Richard Wright s The Man Who Was Almost a Man and William Faulkner s Barn Burning. Moreover, both stories focus on adolescent males who are running from their past in search of a better life. Wright wrote about an African-American boy who tries to grow up too fast , while Faulkner’s is the story of a white kid growing up with a the moral dilemma of right from wrongRead MoreClassic Coming of Age Stories in A White Heron by Sarah Orne Jewett and The Man Who Was Almost A Man by Richard Wright935 Words   |  4 Pagestheir first move into adulthood. In a sense, these stories show the protagonist shifting from innocence to gaining experiences. The two coming of age stories that we read in class were â€Å"A White Heron† by Sarah Orne Jewett and â€Å"The Man Who Was Almost A Man† by Richard Wright. Both being coming of age stories, they have similar features but were different in the sense that one protagonist seemed to have made a shift into adulthood whereas one did not. Starting of with â€Å"A White Heron†, the story startsRead MoreThe Man Who Was Almost A Man Character Analysis1496 Words   |  6 Pagessomeone who you could meet in the real world. In good fiction, the reader will be able to immerse themselves i nto the book so well that the reader will forget that they are even reading a story. An example of good fiction would be â€Å"The Man Who Was Almost a Man† by Richard Wright. Wright’s main character Dave possesses the three necessities that would make him a convincing character where Dave’s behavior is consistent, his words and actions spring from motivation, and he is a character who you wouldRead MoreEssay on Richard Wrights The Man Who Was Almost a Man1658 Words   |  7 PagesRichard Wrights The Man Who Was Almost a Man The Man Who Was Almost a Man is a fictitious short story about an uneducated black boys quest to become a man. Growing up in the early 1900s was a very hard task for most black people. The lack of education was one of the hardest hills they had to overcome to make it in a world dominated by whites. The story centers upon one 17-year boy who has very low self-esteem caused by his peers. He believes that owning a gun will gain him respect withRead MoreElla Wright : The Single Biggest Factor That Shaped His Life892 Words   |  4 PagesElla Wright was â€Å"the single biggest factor that shaped his life,† the life of Richard Wright that is. Ella Wright was an extremely strict and firm mother. She was left by her husband (Richard father) to raise Richard and his little brother all alone, but just like other women who husband leave them for another women, Ella Wright slowly started to lose herself. Not only did the abandonment from Richard father effect Mrs. Wright but it also took an extreme toll on young Richard though he do not speakRead MoreRichard Wright And Malcolm X1167 Words   |  5 PagesRichard Wright and Malcolm X are two African Americans that struggled so much in the pursuit of knowledge in other to gain power and figure. Richard wright is from Natchez, Mississippi; he was in the south around the year 1925 and worked for the white men helping them get books from the library. During the process of obtaining books for the white men, he wants to read and know of the black history. Malcolm X is from Omaha, Nebraska, he was in prison for burglary, during his time in prison then cameRead More Man Who Was Almost a Man Essay653 Words   |  3 PagesWhat does it mean to be a man? How does one qualify for the title? Is the term man simply referring to male human beings, or does it hold a greater measure of meaning in society. In order to get more insight into this subject matter, I consulted, The Tormont Websters Encyclopedic Dictionary. As I anticipated, the first definition for man stated as following: An adult human being as distinguished from a female. This definition, did not surprise me, but what did ,was what followed it , it stated:Read MoreRichard Wright s Writing Style1731 Words   |  7 PagesIt is probably a mere accident that I never killed, states Richard Wright during an inte rview. (Kinnamon 596) Often times, an alternative people would turn to would be violence in a way to escape the world they lived in, but one man held so much inspiration over a society that was and still is shaded by prejudice. What many fail to realize is one can transform the direction of the way society works simply by using words. Because of Richard Wright’s writing style, he depicts the racism and bigotry

Report on Columbia River Crossing Project

Questions: 1. You will submit: a Project Scope Statement with stakeholder information, communication plans, and a WBS for a project you select. First, determine the project you will use for this assignment. It can be a real project or completely made-up. Think about various types of projects (e.g. starting a new company, writing a novel, planning a 50th anniversary party for your parents, consolidating departments, or possibly something in banking, health services, IT, or construction. 2. Develop a scope statement. Make any assumptions; be sure to document them. 3. Identify your stakeholders. For each, state if the stakeholder is external/internal, have influence/do not have influence, are impactful/are not impactful. 4. Determine the communication plan for your project. Some consideration or questions that may help you with this: Kloppenborg, p. 127-128. Do not get overly detailed for this part of the assignment. If your communication plan is more than a half page long, you have gotten too detailed. 5. Develop a WBS for your project down to level 3 at a minimum (6 at the maximum) and for at least one of the categories, down to a work package. There are also videos in the module that help to explain a WBS. If your work shows a severe lack of understanding of a WBS, I assume you have not done all your reading assignments or watched the videos. Answers: Introduction In this project report, it summarizes the construction of a Columbia River Crossing Project with its project scope statement. Different assumptions are also taken to make a successful completion of the project. Apart from this, it also gives a brief description of the key stakeholders on its particular role in the construction of the Columbia River Crossing Project. A communication plan is developed with a set of strategies and intends to communicate with the consequences of the evaluation. Finally, it gives a Work Breakdown Structure to give the key deliverables of the construction project plan that organizes the work of team into manageable sections. 1.0 Project Background Columbia River Crossing is a joint Oregon-Washington Project that replaces the existing Columbia River Bridge, which connects Portland (london.gov.uk 2012). This project focuses on rebuilding a series of highway around the bridge with the extension of light rail across the river. It also improves the existing highways. The overall project will cost up to $3.5 billion that replaces the existing Columbia River Bridge. Even the reason behind the construction of this river crossing project is that the freight that crosses the existing bridge is facing delays due to congestion (sao.wa.gov 2014). This project plan addresses various issues related to travel as well as trade. It also addresses the problem of congestion. This project plan provides the reduction in congestion as well as mobility with an accessibility of all the users. It recognizes all the requirements of the local as well as interstate movement in the future. It also provides an efficiently transportation system, encourages the reduced reliance on the single vehicle, improves the incident management as well as increases the capacity measures. 2.0 Project Scope Statement The scope of proposed project is to improve the mobility by addressing the future travel demand as well as needs of mobility in the Columbia River Crossing Bridge. It improves the connectivity, time of travels as well as operations of the public transportation (Brockmann 2012). It also improves the highway freight as well as addresses the needs of travel and trade. This river crossing project addresses the specific problems such as the growing demand as well as congestion, impairing the freight mobility, limiting the operations of public transportation and safety as well as vulnerabilities to the accidents (Hallgren 2012). The scope of this project is that it limits the operation of the public transportation that includes the trips among the Portland Central City as well as the city of the Vancouver as well as country of Clark (Joslin and Muller 2015). The overall outcome of the project plan is to focus on rebuilding a series of highway around the bridge with an extension of light rail across the river. Therefore, the project plan addresses the problem of growing demand as well as congestion and limiting the operations of public transportation within the area of Columbia. 2.1 Assumptions The project manager for successful completion of the project plan takes the assumptions such that the project plan addresses the needs of the travel as well as trade (Lahdenpera 2012). The deliverables of the Columbia River Crossing Project should be delivered within the given particular period as well as estimated budget (Muller and Soderlund 2015). The issues are identified, and the risk management officer takes all the possible steps to mitigate those issues and based on those, the proposed project plan meets with its key objectives of constructing the river bridge (Shamir and Verhoeven 2013). This construction plan would result in heavy congestion that results in the growth of population within the region with a growth in the employment as well as economic activity. The traffic congestion reduces the mobility of the freight among the regional markets of Portland (Thorne et al. 2014). It is assumed that the congestion reduces the speed of bus speed as well as reliability. These as sumptions should be documented such as the project should complete within the given time and budget and can get a successful completion. The assumptions of the project plan consist of: The availability of the key project member The performance of the key project member The skills of the team members Delivery time of the vendors Issues related to vendor performance Accuracy of the dates related to project schedule 3.0 Identification of Stakeholders The project is the joint project of the departments of transportation between the Washington as well as Oregon. Key Stakeholders Responsibilities Influenced/Non-Influenced Impactful/Non-Impactful Co-leaders Federal Highway Administration as well as Transit Administration The responsibility is to improve the mobility of the river bridge highways through national innovation as well as program delivery (Yu, Ma and Wang 2011). It develops the improved mass communication. High The co-leaders are maximizing its influence by working with the leadership of other transit agencies (Thorne et al. 2014). High The contribution of the Federal Highway Administration and Federal Transit Administration develops the mass communication among the states of the United States (Dorobantu, Nartey and Henisz 2013). Local partners City of Portland City of Vancouver Southwest Washington Regional Transportation Council They are guiding the regional transportation planning program that includes the transportation policy development (Waligo, Clarke and Hawkins 2013). It develops the regional transportation plan and the programming of the transportation projects for funding. High The management of the local partners has an influence on the development of the regional. Medium The local partners are overseeing the transportation planning process over the Columbia River Bridge crossing. Transit agencies TriMet C-TRAN They are operating regular bus route services. High The internal as well as external factors that are used to influence the ridership growth (Dorobantu, Nartey and Henisz 2013). The internal factors are the level of service, and external factors are traffic congestion and trade growth. Medium These transit agencies are most impactful with the least imposing upgrade. People of Clark Country and Portland They have the responsibility to give their feedback on the construction plan. Low They are influenced to do so such that their feedback should help in designing the best possible structure of the river bridge (Waligo, Clarke and Hawkins 2013). Medium The feedback is given by the People of Clark country, and Portland has an impact on the construction of the bridge. Elected officials They have the responsibility to make sure that it fulfills all the duties under the law it powers (Richman 2012). Low They want to fulfill the duties under the law and follow all the guidelines of constructing a river bridge. Medium If the river bridge is not constructed by following the guidelines, then it gives an impact on the project plan. Project Sponsors and staff They fund for the project plan as per the materials required to construct the Columbia River Crossing Project (Schwalbe 2014). High If the project plan is not completed within the given budget, then there is a high chance of risk within the plan (Dinsmore and Cabanis-Brewin 2014). High If any resources are added, then it will increase the total fund of the project (Heagney 2012). Neighborhood associations The project team works with the neighborhood associations in order to provide information with project updates (Waligo, Clarke and Hawkins 2013). High The other stakeholders are not able to get the information on the latest updates. High If they are not giving the exact updates, then it will not be able to provide the necessary information (Joslin and Muller 2015). 4.0 Communication Plan Deliverable Information Recipient Delivery Method Schedule Project Status Project Planner Director Weekly meetings, Pod casts posted on the project website Weekly Agenda Project team, Steering Committee E-mail, Meetings Monthly Timeline update Steering Committee, Executive Project Sponsor Mailing list, Website update As required Project risks Project steering committee, Project team Risk document, project minutes Monthly Funding of the project plan Project Sponsor E-mail Weekly Supply information kits conducted training Consultant E-mail, phone call Weekly Meetings regarding the design of the river crossing bridge Project Designer E-mail, phone call As required Address and resolve the issues Risk Officer Meetings Weekly 5.0 Work Breakdown Structure WBS Predecessors WBS Activities 1.0 Understand and Explain the needs 1.1 Discuss with the government about the construction plan 1.2 Utilize the specifications of project plan 1.3 Meeting with the stakeholders 1.4 Sign off 2.0 Procurement for constructing the river bridge 2.1 Bridge Working drawings 2.1.1 Structural steel 2.1.2 Structural bearings 2.1.3 Expansion of highways 2.1.4 Machinery for movable bridges 2.1.5 Electrical items for the bridges 2.1.6 Concrete crib walls 2.2 Road requiring design 2.2.1 Impact attenuators 2.2.2 Sheeting 2.2.3 Electrical items 2.3 Sequence of processes 2.3.1 Steel placing 2.3.2 Expansion joints 2.3.3 Wearing coat 2.3.4 Concrete placement 3.0 Completion of the Design of the Bridge 3.1 Start and build the Columbia River Crossing Bridge 3.2 Understand the design of the bridge 3.2.1 Modification of the process of the design 3.2.2 Identify the areas of modification 3.3 Risk management plan 3.3.1 Identify the risks 3.3.2 Testing for the performance 3.4 Final Design 4.0 Construction of the Columbia River bridge 4.1 Pre-turn around construction 4.2 Turn around 4.3 Major construction 4.4 Feasibility study of the construction plan 5.0 Testing of the plan 5.1 Manuals and Documents 5.2 Integrated testing 5.3 Test the resources and equipment 5.4 Preventative maintenance 6.0 Sign off the project plan Conclusion It is concluded that the construction plan for Columbia River Crossing Project replaces the existing Columbia River Bridge, and this bridge connects to the Portland. It also rebuilds a series of highways that improves the existing highways. It is built due to the reason behind the construction of this river crossing project is that the freight that crosses the existing bridge is facing delays due to congestion. This project plan addresses various issues related to travel as well as trade. From the construction of this plan, it gives an outcome that it results in heavy congestion those consequences in the growth of population within the region with an expansion in the employ as well as financial activity. The congestion of traffic uses to reduce the mobility of the freight so that it reduces the speed of the bus as well as reliability. This construction plan contains the list of the stakeholders with their particular communication plan so that they can able to improve the existing highways and overcome with the issues of high congestion on the highways. Through the communication plan, they can able to communicate with others so that there is no possibility of any conflict among the key stakeholders. This project plan also addresses the detailed problems such as the rising demand as well as overcrowding, impairing the freight mobility, preventing the operations of public transport. References Books Dinsmore, P. and Cabanis-Brewin, J., 2014.The AMA Handbook of Project Management. New York: AMACOM. Heagney, J., 2012.Fundamentals of project management. New York: American Management Association. Richman, L., 2012.Improving your project management skills. New York: American Management Association. Schwalbe, K., 2014.Information technology project management. Boston, MA: Course Technology. Journals Brockmann, C., 2012. Construction Project Scheduling and Control (CourseSmart), 2nd edn.Construction Management and Economics, 30(11), pp.1012-1013. Dorobantu, S., Nartey, L. and Henisz, W., 2013. "First Impressions: Stakeholder Networks, Proactive Engagement Stakeholder Opinions of Companies".Academy of Management Proceedings, 2013(1), pp.17448-17448. Hllgren, M., 2012. The construction of research questions in project management.International Journal of Project Management, 30(7), pp.804-816. Joslin, R. and Muller, R., 2015. Relationships between a project management methodology and project success in different project governance contexts.International Journal of Project Management, 33(6), pp.1377-1392. Lahdenper, P., 2012. Making sense of the multi-party contractual arrangements of project partnering, project alliancing and integrated project delivery.Construction Management and Economics, 30(1), pp.57-79. Muller, R. and Soderlund, J., 2015. Innovative approaches in project management research.International Journal of Project Management, 33(2), pp.251-253. Shamir, U. and Verhoeven, J., 2013. Management of wetlands in river basins: The WETwin project.Environmental Science Policy, 34, pp.1-2. Thorne, C., Castro, J., Cluer, B., Skidmore, P. and Shea, C., 2014. Project Risk Screening Matrix for River Management and Restoration.River Res. Applic., 31(5), pp.611-626. Waligo, V., Clarke, J. and Hawkins, R., 2013. Implementing sustainable tourism: A multi-stakeholder involvement management framework.Tourism Management, 36, pp.342-353. YU, P., MA, Q. and WANG, L., 2011. TBM Cutting Tools Maintenance Technology for the Yellow River Crossing Project in the Middle Route of South-to-North Water Diversion Project.South-to-North Water Diversion and Water Science Technology, 9(1), pp.21-25. Websites london.gov.uk, 2012.East London River Crossings: Assessment of Options. [online] Available at: https://www.london.gov.uk/sites/default/files/gla_migrate_files_destination/East%20London%20River%20Crossings%20Assessment%20of%20Options%20TfL_0.pdf [Accessed 31 Jan. 2016]. sao.wa.gov, 2014.Columbia River Crossing Project. [online] Available at: https://www.sao.wa.gov/state/Documents/Columbia_River_Crossing_Project.pdf [Accessed 31 Jan. 2016].

Under Age Smoking Essays - Smoking, Cigarette, Tar,

Under Age Smoking Statistics show that 3 out of 4 under age kids that try to buy cigarette get away with it though, in America it is illegal to sell cigarettes to kids under the age of 18 though most stores do. The average age a kid starts smoking at fourteen and a half, but if your don't start by the age of 19 you'll probably never start. Over an alarming 3000 under age kids/per day start smoking. One out of three under age kids die from smoking. Most kids say they like to smoke because it,"Calms their Nerves","Tastes good", or "Because everyone I hand out with does it." Seven out of ten high school seniors with they had never started because it is so hard to quit. Cigarette company's spend over 6 billion dollars a year to try to lore under age kids as well as older people into smoking. They use things such as points that you can get free items with, or spokes models that are appealing to kids. Diseases Caused By Smoking Explained Lung Disease - Cigarette smoking is the most common cause of lung disease. The poisons contained in cigarette smoke have a deadly effect on the many different cells that keep the respiratory organs clean and healthy. In the middle and upper respiratory system, toxins from cigarette smoke can kill the cilia that sweep particles out, permanently destroy the protective cell layer that lines the airways, and cause the mucous membranes to make a thick, unhealthy mucus. In the lungs, smoke particles destroy the macrophage cells that move through the lung tissue eat bacteria, dust, pollens, and other foreign substances. Lung Cancer - Lung cancer kills more people than any other disease of the respiratory system and is also caused by smoking. The cells of any part of the airways may become deformed growing so fast that they use up all the nutrients needed by the normal cells to continue living. Cancer is deadly if not detected very early. Emphysema - One group of these diseases is known as chronic obstructive pulmonary disease, or C.O.P.D., which includes emphysema. C.O.P.D. is caused by long-term clogging of the smaller airways by poisonous particles such as those found in cigarette smoke or coal dust. The alveoli in a lung with emphysema begin to break apart and can no longer absorb oxygen, leading to gradual suffocation.

Bill French, Accountant Essay Example

Bill French, Accountant Essay Example Bill French, Accountant Essay Bill French, Accountant Essay Abstract Break even analysis is a method that has been applied by many business operations in determining the least operational points which they can operate and still remain in business. It is very important for a business that has just entered the market and wants to win its market share before it can set the selling prices for its prices. It is also applicable in events where here are a number of competitors a firm wants to win. Break even point is defined as the point below which a business cannot operate. At this point, the business should be able to cover all its costs, which are fixed and variable costs. It is measured in either product units or dollars. Bill French, Accountant The break even analysis is a very important tool to help any firm in deciding on the best operational volume. It requires three types of costs namely the fixed cost, variable cost and selling price (Dayananda, et al, 2002). As Bill French puts it, â€Å"the level of operation at which total costs that is, variable plus non-variable are just covered is the break even volume† and it is the least volume that an organization should operate in order to remain in business (Harvard Business School, 1987). There are several assumptions that are made in order to calculate the break even figures since with all the factors considered, it is very hard to compute the figures. In determining the break even figures for the firm, French makes some implicit assumptions. Most of these assumptions are evident in the conversation he is having with the participants at the meeting. In his calculations, Mr. French does not give room for the excepted sales volume increase which according to Cooper, one of the participants from the production department, will increase sales by 20%. He further assumes that the plant capacity is only at 90% utilization implying that it is not fully utilized. However, we learn from Williams (who is from the manufacturing department) that the plant capacity may be at 100% as he argues that in some of the sectors, there is no room for further expansion. Mr. French does not consider the three products produced by this firm individually but rather on averages proving that it will not be easy to calculate break even figures for each of the products individually. In fact, French argues â€Å"that there is only one break even point for the firm† and thus it is the only point to be hit whether considering each product individually or in group (Harvard Business School, 1987). It is evident that the method used by French to calculate for the break even analysis does not allow for change in the product mix since he assumes that nothing will be altered. For instance, the price of product C is very low and therefore need to be included in the analysis that there are products which may change in prices but this is not the case with French. Bill has also assumed expected union demands, taxes and dividends. With French revising his method of calculating the break even analysis, he will have to consider some other increase and decrease in costs. This will make the break even figures change to 2,000,000 units as the aggregate figure. The sales volume is 400,000 units for product A, 400,-000 for product B and 950,000 for product C. The unit sales will be $6. 948 as the aggregate, $10 for A, $9 for B and $4. 8 for C. In order to pay the extra dividend of $25,000, the firm has to increase the sales volume as follows; the price per unit remains at $1. 2, variable cost at $0. 75 while fixed costs increase to $(520,000 +25,000) =$545,000. The units to cover for this; 1. 2x=0. 75x+$545,000= $545,000/0. 45x; x=1,211,111 units. In order to meet the union demands of 10% increase in production costs, it follows that the total variable costs will have to increase by 10% since production costs are in the variable costs category. The calculation of the break even units will be; 1. x=0. 75x+0. 1x+$525,000= $525,000/0. 35x; x=1,500,000 units. In order to meet the union demands and pay for the extra dividends, the break even point will be; 1. 2x=0. 75x+0. 1x+$525,000+$25,000= $545,000/0. 35x; x=1,557,142 units. With the break even analysis, the firm will easily make a decision on whether to alter the existing products. It is true with the alterations, the sales volume has to increase and if the firm finds that it is not possible to make the extra sales, it will have to stop with the alterations. For instance, it is planned that there is extra investment on the C product which will mean an increase in costs. Since the firm’s capacity is thought to be at the maximum, it will not be possible to make the increased investment. Break-even analysis is very useful tool in all business operations. Although it has the disadvantages brought about by the assumptions made, it has its own advantages as well. The disadvantages are the assumptions that everything produced is sold and at the same price. However, the advantages which make it useful and each of the firm is advised to use it are that it is cheap and it helps a firm acquire a loan. With its relationship of returns, volume, production and cost shown, the firm will be able to make decisions on whether to take some business ventures or to leave them (Accountingformanagement. com, 2009). With the use of a break even analysis, it is very easy to determine whether a firm is on the best track of doing business without making profits or losses. References Accountingformanagement. om. (2009). Break Even Point Analysis-Definition, Explanation Formula and Calculation. Retrieved from accountingformanagement. com/Break_even_analysis. htm#Benefits%20/%20Advantages%20of%20Break%20Even%20Analysis Dayananda, D. , Irons, R. , Harrison, S. , Herbohn, J. Rowland, P. (2002). Capital Budgeting: Financial appraisal of investment projects. Cambridge: Cambridge University Press. Harvard Business School. (1987). Accounting: Bill French, Accoun tant. Retrieved from hbsp. haravard. edu.

Towards a Web-based Application to Resolve Physical Pulse Board Issues Thesis

Towards a Web-based Application to Resolve Physical Pulse Board Issues - Thesis Example For instance, in Scrum software development as well as in Lean product development, tools for planning a project using walls and boards have been developed. These methods have so far proved to be very efficient, in so far as the visualization of the work performed, as well as the prioritization of new tasks is concerned. However, there are notable challenges in synchronization, version control and traceability among a company’s different projects. This thesis, investigates how Physical Pulse Board is used and how it can be improved through the introduction of a web-based application for elimination of difficulties of using Pulse board especially in global environment where different people from various locations might need to join the meeting. The paper consists of three parts. In the first part one set of interviews were conducted along with an observation to figure out related difficulties with the use of Physical Pulse Board especially in global environment. Following this, another set of interviews were conducted to help find out how these issues can be eliminated or resolved. Considering that good principles can never be useful, unless they are applied and used in reality, the second part of this report, a web-based application was developed to help bring improvements using Pulse Board in global environment based on the finding from the first part. It was then that evaluation of implemented software was done through a workshop with person A and Person B. It is worth noting that the two persons are the Lean Product Development Specialist chosen for market analysis given that the two had implemented the Physical Pulse Board in their organization. Two major factors which increase complexity inside companies are the number of different products that are produced by these companies, as well as physical location of their teams. This complexity imposes extra waste in different areas like inventory, processes, maintenance, quality, suppliers,

Vegetarianism and Its Various Benefits Research Paper

Vegetarianism and Its Various Benefits - Research Paper Example People may also turn vegetarian since they feel that human beings are supposed to eat food that is obtained only from plant sources. Vegetarianism can also be manifested in different forms and degrees with some people deciding to be extreme followers and some deciding against it. With the increase in the number of vegetarians in the world, there are sects even within vegetarians. There are some who eat eggs and dairy products and others who avoid them. They are classified into lacto-vegetarians, ovo-vegetarians, lacto-ovo-vegetarians, vegans and so on and so forth (Vegetarianism, n.d.). These categories prove the importance that people assign to the constituents of their diet in a world comprising people who are increasingly conscious of their appearances and their health. In many industrial countries this may be a survival tactic to gain more immunity against the pollution that is prevalent in these countries. In others, it may be a means of gaining protein from certain sources whil e remaining faithful to their religious practices. Anyhow, these sects within the larger group of vegetarians prove how strong the overall movement against what they perceive as cruelty to animals is. In some cases, religious beliefs can be the root cause of vegetarianism and in such instances, people start attaching great value to their vegetarianism as it is a symbol of their culture. Especially in communities that consist of immigrants, vegetarianism can be a strong reminder of the culture of the homeland and may be held on to with great strength. This can be seen in the Jain communities of the United States of America. Originally from the Indian subcontinent, the people belonging to the Jain community are mostly lacto-vegetarians and they believe in not inflicting violence upon animals. This is a part of the larger theories of nonviolence that were propounded by the founder of Jainism, Mahavir (Mehta, n.d.). The importance of vegetarian diets is significant in the cultures of Ja inism and some sects of Jains even wear cloth masks so as to not accidentally inhale insects and cause harm to them. The conflict between different cultures that believe in vegetarianism and non-vegetarianism as parts of their religion creates problems for many nations. In multicultural and multi-religious societies across the world, such problems keep surfacing. In such a scenario, it becomes important for one to analyze the position of vegetarianism in the world and whether it would not be beneficial to adopt vegetarianism as a whole. This discussion is at a hypothetical level as people are free to choose the food of their choice unless of course, there are instructions from the state to the contrary. This paper shall look at the benefits of vegetarianism for human beings at an individual level and also for the environment. It shall speak of the different positive effects that vegetarianism ahs on the human body. It shall also discuss the negative effects that the meat industry ha s on the environment and the flora of a nation. The conservation of the environment would receive a boost if the presence of the meat-production centers in the world would decrease. Vegetarian diets often have the ability to provide the body with substances that would enable it to detoxify itself. The presence of various kinds of vitamins and minerals in these diets, absent from meat-only diets, helps the body to purify itself of the toxic substances that may be

Common Core Essay Example for Free

Common Core Essay The common core is a set of standards which were developed by state leaders along with teachers, school administrators and many other people, not the Federal Government. The common core has standards. Standards which are not curriculum. Standards that â€Å"do not tell principals how to run their schools, and they do not tell teachers how to teach. Local teachers, principals, and district administrators ultimately decide how the standards are to be met and the curriculum to be use† (Laine and Minnich). The school districts still have to choose which textbooks to use and, which curricula they wish to add and drop. The basic standards of the common core are: Aligned with college and workforce-training expectations; Rigorous in content and include the application of knowledge through higher-order skills; Built on strengths and lessons taken from state standards; Informed by standards in top-performing countries, so that all students are prepared to succeed in the global economy and society; and Evidence-based, clear, and aligned across a child’s K-12 education. The common core has many pros and cons to reforming the education system. In the Article The common core is a change for the better the authors mention that the common core provides a good foundation on what needs to be taught (Gardner and Powell). The authors also touched on the fact that students nowadays are â€Å"more mobile than ever†, families have to move around more to follow and find available jobs. With the common core all across the Country have the same standards. There is some consistency within all schools in America. If a family was to move from Maine to Nevada, it would be quite impossible to expect things to be the exact same. However, you can still have an idea of the standards and know what to expect. This is a great thing about the Common Core. Every Student this way is exposed to the same standards. Once students are mingled together in colleges and universities across the country the professors can expect almost every student to be able to do the same things, to a degree. Not to say that every student knows the  exact same co ntent, however they will all have graduated high school with the same skills. Skills that may be taught in a variety of styles, none the less resulting in the same skills. The common core requires teachers to be very specific and hand out rubrics, stating exactly the quality of work that is expected. This eliminates the confusion that can arouse from complicated projects or open research topics. The students will know exactly what the teacher is requiring of them. Ultimately making it easier on the students to provide what the teacher wants and getting the highest grade possible if the students puts in the effort required to meet the expectations. Effort: defined as â€Å"an earnest or strenuous attempt† by dictionary.com, is where a problem arises in the common core. The common core standard â€Å"Rigorous in content and include the application of knowledge through higher-order skills† is asking 21st century students to put in lots of effort, they can’t ask Siri to write their English paper or do their history project. Most high school aged students in the United States are not going to put in the required effort to achieve rigorous assignments. I know that when I was in high school my attitude was ‘if I wait to the last minute it only takes a minute’. That’s not because I was swamped with assignments or didn’t understand it. It was because I would rather be doing anything else, after having spent all day in classrooms with new information being drilled into my head. The absolute last thing I wanted to do was go home and spend more hours on homework. Making high school more rigo rous is going to prevent kids from being kids. Students in the United States are less motivated to learn and value education less and less. Stephen Krashen says that another problem with very rigorous assignments is â€Å"CCSS are so demanding that in English language arts classes, educators and students will have little time for anything not directly linked to the standards† (Krashen). I do not quite agree with this statement because the standards are not the curriculum being taught, just the way it is being taught. Teachers and schools have some free space to spend as much time as they feel necessary to focus on aspects they feel more important. The common core has pros and cons, just like anything in life. One set of standards isn’t going to please everyone in the United States. My personal opinion is that the common core has good intentions, but may be a bit unrealistic. If every school in America was teaching the same skills to the same degree, all students would have the same experiences entering college. There are 50 states with thousands of different schools in each states. Within those thousands of schools there are teachers who all have their own style of teaching. Not to mention the millions of students that all learn a little differently at a different pace. What are the odds that every state school, and teacher are able to provide every student with the exact same skills, using the exact same standards? There are good intentions behind it, and the United States can give it a chance, but I feel as though it may be unrealistic. Works Citied Fine, Sarah. Moving Forward With The Common Core. Education Week 30.8 (2010): 18-19. Professional Development Collection. Web. 16 Mar. 2014. Gardner, Nancy S. Powell, Rod. The Common Core Is A Change For The Better. Phi Delta Kappan 95.4 (2013): 49-53. Professional Development Collection. Web. 16 Mar. 2014. Krashen, Stephen. THE COMMON CORE. (Cover Story). Knowledge Quest 42.3 (2014): 36-45. Professional Development Collection. Web. 16 Mar. 2014. Richard, Laine, and Chris Minnich. Common Core: Setting the Record Straight. Education Week 32.36 (2013): Web. 16 Mar. 2014

The Princess Bride Essay -- essays research papers

In the film, 'The Princess Bride,'; directed by Rob Reiner, Cary Elwes plays a farmboy known as Westley during the Middle Ages. Westley falls in love with Buttercup, played by Robin Wright, who lives upon the land where he works. Buttercup also falls in love with Westley, so he sets out to find his fortune so they can be married. A short time later, Buttercup learns that Westley has been killed by pirates. The Prince of the land chooses Buttercup to be his bride, regardless to her feelings. Before the marriage takes place, Buttercup is kidnapped. Westley, disguised as a pirate in black, sees the kidnapping occur and chases after Buttercup. He catches up and defeats all three of the kidnappers using his strength, skill, and smarts. Buttercup learns of his true identity and together they escape from the evil prince. Westley is an intelligent man who makes good choices. He is a hero in many aspects. Buttercup, on the other hand, made some poor choices.   Ã‚  Ã‚  Ã‚  Ã‚  Westley was intelligent. He displayed this characteristic when he poisoned the cups of wine. He poisoned both cups to guarantee that Vizzini, played by Wallace Shawn, one of the kidnappers of Buttercup, died. The intelligence was in the preparation. Westley had built up immunity to the poison before so that the small amount didn't affect him when he drank it, but affected Vizzini.   Ã‚  Ã‚  Ã‚  Ã‚  Westley also showed intelligence when he couldn't move, but made Prince Humperdink beli...

Modernization theory and Dependency theory Essay

Skidmore and Smith present two theories, Modernization theory and Dependency theory. Modernization theory is that positive material growth yields positive social equality. Dependency theory states that a dependent economy yields or brings social inequality, which in turn can lead to political authoritarianism. Skidmore and Smith state that dependency theory distorts modernizations predicted outcomes. Mercantilism is a form of dependency. The social, economic and political outcomes from Modernization seem positive. Socially, the transition from a rural to an urban society will bring a change in values. People would begin to participate in voluntary organizations which only an authentic democracy requires. A middle class would emerge to play a progressive and economic role in society. This theory shows that they weren’t different just behind. Skidmore and Smith’s modernization theory is used to describe the nature of development. The social, economic and political outcomes of a dependant economy are negative. Social inequality will appear and the different classes will become further and further apart. Economically Latin America would depend on foreign markets, which â€Å"during the 20’s a depression occurred.† Economically Latin America exported raw materials and imported finished goods. This leads to growth without development. Economic dependency leads to a political authoritarianism. The causative variable for these outcomes that Skidmore and Smith stated is economic dependency. There are two forms of economic dependency that Skidmore and Smith explain. They are mercantilism, the colonial period, and the ECLA thesis, post 1880 period. Mercantilism is a dictated economic policy that emerged during the colonial period. Mercantilism required colonies to produce raw materials for the mother country. The mother country would supply the colonies with finished products in return. This arrangement was geared toward the economic enrichment of the mother country at the expense of the colonies. The ECLA thesis developed by Presbish, it states that overtime the prices of finished products rise faster than the prices of  primary products, raw materials. The ECLA thesis explains the nature of dependency during the post-independent, 1880 period to the present.

Movie Review about Social Network (2010)

The facebook and the open source movement are both social sites where people share information. Facebook started in 2003 in Harvard University out of a love affair which went sour among two student partners, where a male partner hack the database of the institution trying to tarnish the name of the female partner (Harris 25). Social network movie is about a website facebook which came about due to a lawsuit directed by David Fincher and it was released on 1/10/2010. It explains how people share social and personal information. It is popular among the student body and they call it Thefacebook and due to the issue which surrounded the social network movie, they later avoided the courts and called it Harvard gentlemen. All these sites were used for socialization and especially the social movie spiced by the YouTube movies (Harris 25). There is instant messaging in facebook where some one can communicate with another person with due privacy and confidentiality through inbox. There is the use of Google talk which is instant in nature and the online text chat. You can type a message that everyone else can read and respond accordingly by posting. With the open source, there is no Google talk and the open chat though both have some privacy and confidentiality depending on how it is used (Harris 27). Facebook is growing very fast as a social network all over the world and it will affect the culture of many people negatively. Facebook is believed to be used mostly by young people (youths) to discuss their own issues; hence degrading their culture and adopting other cultures through addiction and influence by others (Harris 30). These values will affect the future technology negatively if the site is not used for research purposes. The facebook is believed to be used mostly for love and sexual affairs; hence it has been associated with people who are idle, prostitutes and immoral people. There is lack of creativity and innovation for those using facebook because their main agenda is to socialize only. This therefore means that, there will be no development and advancement in technology (Harris 31). The open source movement and social network movie is free for everybody since it articulates on different issues affecting the society and official information is passed through this site (Harris 32). The open source technology is used in the back office where IBM dominates and it is fairly easy to use and understand than the facebook. There more development and innovation in the open source movement because of the coming up of Microsoft, Linux where the oracles which has dominated the universe for its middleware and applications (Harris 35). Works cited Harris, Mark. Inventing Facebook. New York: MIT Press. 2010 (3): 25-35