5 Words That End in the Excrescent -st

5 Words That End in the Excrescent - st 5 Words That End in the Excrescent â€Å"-st† 5 Words That End in the Excrescent â€Å"-st† By Mark Nichol Incidentally, a little gathering of English words, through persuasive difference, obtained spelling and accentuation variations as an odd extremity: the letters - st. Three of these terms are satisfactory (yet declining being used) in British English however esteemed nonstandard in American English, while two others, peculiarly, have beaten prior structures. The phonological term for this sort of progress is excrescence, which in spite of the fact that it essentially implies â€Å"outgrowth† is a word with horrendous affiliations that should support essayists (and speakers) of American English to make sure to reconsider before utilizing one of the accompanying three words: 1. In the midst of: The relational word in the midst of, which means â€Å"among† or â€Å"during,† or â€Å"with the backup of,† is regularly composed (however once in a while said as) in the midst of, even in American English, yet it is viewed as informal and unacceptable for formal composition. 2. Among: The excrescent type of the relational word among, in certain faculties interchangeable with amid(st), is maybe significantly more every now and again utilized in casual American English composition (and talking). Be that as it may, among, as in the midst of, ought to be kept away from in formal composition. 3. While: Alone among these three words, the combination while is seldom utilized in American English, maybe on the grounds that it sounds particularly influenced; numerous clients of British English likewise favor while. Its relative disagreeability, nonetheless, is illogical in that it is generally simple to articulate, while in the midst of and among include some mandibular acrobatic. In spite of the fact that they have a similar consummation as in the midst of, among, and while, these words finishing off with the excrescent - st are standard: 4. Against: Anomalously, however against followed a way like those of the three words recorded above, framing from the adjustment of again to againes and afterward to againest before subsiding into its present structure, the nonstandard variation won. Once more, as a relational word, has been consigned to tongue utilized for comic impact; for sure, in this unique circumstance, it is frequently spelled agin to accentuate the drawled elocution, as in â€Å"I ain’t sayin’ nothin’ agin ya† (interpretation: â€Å"I’m not saying anything against you†). 5. Middle: This variation of the thing center (from the Middle English term middest, a modification of middes, which thusly is short for amiddes, which means â€Å"amid†) is right, however its endurance is interested, taking into account that center is simpler to articulate. The shortened structure mid is worthy just as a prefix in a hyphenated (mid-Atlantic) or shut (midafternoon) compound. Need to improve your English in a short time a day? Get a membership and begin getting our composing tips and activities every day! Continue learning! Peruse the Spelling class, check our well known posts, or pick a related post below:Writing a Reference Letter (With Examples)Hyper and HypoComma After Introductory Phrases

Development of Bushfire Detection Technology †MyAssignmenthelp

Question: Talk about the Development of Bushfire Detection Technology. Answer: Presentation NRMA Insurance is an association that offers protection benefits that covers different approaches, for example, life and property. The association gives protection spread to a scope of property that incorporates vehicle protection spread, house spread, water vessels and fire covers. NRMA likewise, offers protection spread for life against a lot of perilous conditions (https://www.nrma.com.au/). This fiasco influences numerous players that incorporate insurance agencies, residents and the general public by and large. The vast majority who live close to the timberland protect their property or life against fire hazard and perilous firestorm. Regularly fire episodes crush property or life therefore influencing the whole society in one manner or the other. In Australia firestorms is a significant catastrophe that is influencing one out of ten Australians throughout everyday life (Euan, 2016). NRMA subsequently concocted fire identification and counteraction development that plan to fores tall fire flare-up particularly bushfire. NRMA Fire Blanket sensor arrange is an inventive innovation that is created by NRMA insurance agency in association with MC Saatchi Group and CSIRO Data61 (https://fireblanket.nrma.com.au/). The undertaking took more than two years of research so as to think of the framework that tries to address the issue of bushfire which isn't just issue inside the protection business yet additionally for the general public when all is said in done. NRMA as an organization attempts to incorporate the development into its portfolio consequently escalates creation of Fire Blanket frameworks for commercialization (EPMC Michael et al, 2009). This presents open door for financial specialists, for example, the administration and others who are keen on the advancement to consider putting resources into the improvement of the NRMA Fire Blanket framework. The accompanying report investigates the NRMA Fire Blanket framework as manageable business advancement. Bushfire is one of the normal calamities that influence a few people inside Australia and universally. There are numerous individuals living close to the timberland and their property are hit down in case of bushfires. Bushfire hence influence numerous parts that incorporate insurance agencies that offer fire protection spread and numerous individuals living close to woods or hedge typically guarantees their property against fire flare-ups. This has been perilous for those Australians that have not protected their significant in case of fire episodes. As per Norther Daily Leader (2009), for each 10 Australians one is influenced with fire sooner or later in their life. The task tries to address the issue of bushfire that is regular in everyday lives. NRMA Insurance has since understood the significance of fire discovery so as to forestall bushfire hazard. NRMA Fire Blanket sensor arrange is a feasible development innovation that takes care of the issue of bushfire. NRMA as an insuranc e agency is worried about hazard that is related with hedge fires. Bushfires is a genuine test for those networks that are living close to backwoods. Bushfires demolish properties for those individuals living close to timberland and this influences the organization that is, for example, NRMA. So as to tackle the bushfire issue, NRMA in organization with MC Saatchi Group and CSIRO Data61 created bushfire identification framework called Fire Blanket (Olano, 2016). Advantages of the advancement The development has a few advantages that are acknowledged both at individual level, industry and at the general public level. Right off the bat, at the individual level, NRMA Fire Blanket forestalls loss of important that are ascribed to bushfire catastrophes. Bushfire can at times annihilate offices that are worked close to the woodland if early intercession isn't arranged. This leaves the individual with many loses that can likewise be reached out to death toll (Olano, 2016). Furthermore, at the business level advantages of the development is acknowledged through avoidance and recognition of property demolition that frequently result from bushfires. For example, the insurance agencies that ordinarily safeguard property close to timberland against bushfire has restricted fire hazard. NRMA Insurance has step up to guarantee that fire hazard are limited. NRMA Insurance is additionally profiting by the advancement since the entire undertaking has built up another portfolio in its underlying portfolios. The organization in this manner needs to light creation of these fire identification frameworks for business reason (Tuomi, 2002). Thirdly, the general public additionally advantage from the manageability component of the Fire Blanket advancement since the bushfire that frequently has immediate and circuitous effect on the general public is forestalled at the beginning period. Obliteration of backwoods due to bushfire leaves the land uncovered and furthermore wreck living space for wild creatures that are vacation spot in Australia. This lessens monetary benefactor as most timberland are additionally vacation spot in Australia. Besides, the advancement shields the general public from life los that outcome from firestorms (50Lessons, 2009). Fourthly, all the associations that partook the improvement of the framework is destined to profit by commercialization of the fire discovery and avoidance types of gear. NRMA specifically looks to popularize the entire fire recognition, avoidance and observing framework with the point of enhancing its image and portfolios. Likewise, the fire recognition framework additionally tries to change the crisis reaction branch of Australia and comprehensively since the hardware will help in observing fire episodes. This in this manner prompts advancement and creation of advances that will be offered to the associations and people (EPMC Michael et al, 2009). Bushfires are catastrophes that need high need for advancement of avoidance or location procedures. Bushfires are visit in Australia particularly in wormer months of the years. Flames regularly break in different places for the most part mountain timberland or field with a broad effect couple with loss of property and life (Mulcaster, 2009). This is especially significant both in arrangement creators and insurance agencies that safeguard property against bushfire dangers. The calamity should be given high needs by financial specialists who invests more energy in the fire identification advances. Right now more spotlight depends on the crisis reactions that are targeting extinguishing fire in case of bushfire episode. This need to change with the advancement of the development and more spotlight ought to be on the anticipation and location of the firestorm (Nag, Hambrick Chen, 2007). Vital goals The vital goal for the venture was to distinguish bushfire, screen fire fiascos and anticipation of firestorms. Right off the bat, the task tries to recognize fire early enough for the crisis reactions to react to the catastrophe in time. Besides, the advancement additionally plans to screen any indications of fire inside the verdure zones in the nation through remote sensor that structures some portion of the framework. Thirdly, the advancement intends to forestall fire chance that may decimate property prompting financial misfortune for both individual and the general public (Hill Gareth, 2012). Australia as a nation has thought of different markers for fire hazard. A portion of these pointers are high temperatures, wind speed and level of dry grass. High temperatures are related with hotter days and have high impact on the shrubbery fires. Wraps accelerate the fire in the occasion there are fire anyplace close to combustible items. The dryness of the vegetation likewise shows the chance of fire flare-up that is hazard for both life and property (Davila, Epstein Shelton, 2006). Accordingly for the danger presented by the fire fiascos the organization in association with different associations built up the development that react to the fire calamities. So as to recognize the fire early enough the innovation is fitted with smoke sniffers that sense the smokes inside the territory where the innovation is introduced. This permits the gadgets to impart signs to different gadgets through remote systems that are utilized to screen the birthplace of smoke thus the fire checking framework. This empowers the gadget to impart signs to the control place for snappy reaction. Item advancement is another reaction that the organization can appear in the hazard the board system for the association. The association likewise creates fire identification types of gear as a component of its items accordingly. NRMA Insurance organization has set out ablaze discovery framework advancement that intend to change the fire fiasco counteraction advances. One of the reaction limits for the association is the creation of these frameworks that it offers to different calamity the executives associations for anticipation and checking of bushfire (Moore Reid, 2008). Task alternatives investigation The task can follow numerous activities choices that can incorporate advantage acknowledgment model, earned worth methodologies and hazard the board. Right off the bat, advantage acknowledgment alternatives of the venture considers the advantages that outcome from the undertaking. The Fire Blanket task is associated with numerous advantages that slice across singular level to society level. Advantage acknowledgment model spotlight on the advantage of the venture that incorporates the organization enhances its portfolios, customers has insignificant hazard and the general public profit by decreased fire dangers. Under this choice both the business and the administration ought to put resources into the venture since the undertaking have numerous advantages to the general public (Keating, Quazi, Kriz Coltman, 2008). Furthermore, hazard the board model adventures the protection point of view of the organization since looks to insignificant hazard related by bushfire and firestorms when all is said in done all through Australia. Protection industry is based different hazard that customers guarantee their property against. NRMA Insurance is additionally an association that offers protection strategy against fire that can likewise result from bushfires. The task is equipped towards limiting or overseeing fire hazard for those customers dwelling close to hedge or timberlands. The hazard the executives alternative additionally ought to draw in numerous insu

The Art of Spreading Satire

The Art of Spreading SatireGood satirical essay topics and ideas are hard to come by. It's like taking candy from a baby! Actually, there are no prizes for guessing that someone is not going to write a good satire piece from scratch, so it is a good idea to have a pretty good idea of what type of subject is going to be best to bring into the world of satire.Writing a good article about something that we are already familiar with is much easier to deal with than trying to find a topic that has not been discussed before. In fact, there are things that will just make you go crazy trying to think of a subject that is new.One of the first things that you will notice is that there are literally thousands of websites online that can provide you with plenty of subjects to choose from. Some sites will be better than others, but it is hard to find good ones. There are only so many subjects you can research in this day and age, so most people have no other choice but to turn to search engines t o find out what is out there. Sometimes the results will be very limited because of how many topics are available.When you do find a site that has a great piece, it may also require you to enter a small amount of information, which isn't always necessary. Some sites may tell you that your topic must be comedy related and will then leave you to figure out how to do your research.Another thing that may surprise you is that there are sites that will allow you to research and write about controversial issues. You have to remember that this is not satire, so you should stick to topics that people don't usually talk about, like religion or politics. This does mean that you can get topics on these two areas, but some people still won't see it as a good parody article.So why would someone want to write a funny article? A few reasons could be to get more hits or just to post it on an article site and see if anyone will take it seriously enough to get to the bottom of the satire for themselve s.Of course, just because you are allowed to use search engines to find topics that are very popular does not mean that they are the best ones. You also have to find out what is funny in the internet and how you can incorporate it into your piece.Remember that writing a good satirical essay is just like writing a good journalistic piece. Some topics may be original, but it is your job to find a way to make them fit into the piece that you are doing.

Project Management Office For The Government - 1041 Words

Since the dawn of civilization, projects have been understood as an endeavor to obtain a specific result. Wysocki (2011) defines a project as â€Å"A sequence of unique, complex, and connected activities that have one goal or purpose and that must be completed by a specific time, within budget, and according to specification†. Through the centuries, the projects have become more complex, with more variables. The mid-twentieth century was marked as a significant transition regarding the way we build projects. The 60s brought us the term software crisis, which drives us to develop better techniques in software engineering and project management. Even being product of the private sector, the Project Management also became important to the public†¦show more content†¦The public sector has some constraints inherent to his structure and purpose. Besner Hobbs (2011) classify the public sector as being a functional structure, they also comment that the public organizations a re generally less mature in project management, thus that they are poor project performers. This classification leads to a deeper analysis that will be performed thereafter. Constraints According to Kerzner (2013) maturity in project management is the implementation of a standard methodology and accompanying processes such that there exists a high likelihood of repeated success. Nieto-Rodriguez and Evrard (2004) state that we need take account four core elements to assess the organization’s maturity: processes, structure, people and systems. The foregoing statements point out the main differences between private and public sector. Laws and policies bound the processes in the public sector; the structure as mentioned earlier is mostly functional, while there many and different stakeholders whose the project need attend their needs and respond to. As Crawford Helm (2009) state, â€Å"there are many levels of accountability, including accountability to parliament, to taxpayers, to the community, and to business†. The press is also an important stakeholder of the project, in addition, is difficult to define the project sponsor with the functional structu re of the public

Examples Of Tragic Hero In Julius Caesar - 905 Words

The Greek philosopher Aristotle once stated that â€Å"a man cannot become a hero until he can see the root of his own downfall.† By Shakespearean definition, a tragic hero is someone of high position such as a nobleman, who has hamartia, a tragic flaw that leads to his downfall, and even his demise. This is strongly illustrated in Julius Caesar by William Shakespeare, where Marcus Brutus’ desire to remain noble and honourable leads him to naivety and self destruction. The plot of the play revolves around removing power from Caesar, causing the inability of Marcus Brutus to reconcile his guilt over his involvement in the assassination. Although Marcus Brutus was developed as the main tragic hero of the play, there would be no tragedy without†¦show more content†¦Caesar’s outrageous, insufferable and impious hubris became a threat to the freedom of Romes Republic, as he was seen as a chance of tyranny. For instance, Caesar pronounces that he is: â€Å".. . Constant as the northern star, Of whose true-fixed and resting quality†¦ Unshaked of motion†¦Ã¢â‚¬  (III, i, 60, 61, 70) In this presented quote, Caesar claims to be the most steady guy in the universe, immune to the flattery of other men. The irony here is that Caesar delivers this fancy speech right before the conspirators surround him, stabbing him to death, and unseating him from power. Caesar was such a truly superior man in many respects, but he makes himself unsympathetic to the audience with his egotistical utterances. The other characters in the play such as Brutus, who wanted to protect Rome, saw that Caesar would become a terrible tyrant. This is corroborated when Brutus states: ... Not that I loved Caesar less, But that I loved Rome more...† (III, ii, 21, 22) Brutus’ fear that Caesar’s success to become dominant will beShow MoreRelatedShakespeares Tragic Hero in The Tragedy of Julius Caesar Essay example1876 Words   |  8 Pageshundreds of years The Tragedy of Julius Caesar by William Shakespeare has been studied, reviewed, taught, read, and immortalized in films. Why would a voluminous amount of resources be poured into this simple play? As with Shakespeare’s other works, this play has been a great tool for English majors, authors, and any interested to have an insight on human action and reason. The tragedy follows Cassius and Brutus, the protagonists, as they seek to overthrow Julius Caesar from monarchy in Rome. They planRead More Julius Caesar - Tragic Hero Essay1028 Words   |  5 Pages Julius Caesar as a Tragic Hero amp;#9;Julius Caesar is a play written by William Shakespeare during the year 1597. Julius Caesar’s story involves a conspiracy against Julius Caesar, a powerful senator. The play involves a highly respected senator, Brutus, who decides to join the conspiracy to kill Julius Caesar, in the effort to keep democracy intact. Brutus believes that if Julius Caesar is allowed to live, Caesar will take a kingship and turn the government into a monarchy. Brutus, CassiusRead MoreConventions of a Shakespeare Tragedy1189 Words   |  5 Pagesare tragic hero with a tragic flaw, anti-hero, tragic fall, fate, and supernatural. A convention is something in Shakespeare that has a certain effect. The tragic hero always has a tragic flaw. A tragic hero cannot be a hero unless he has a tragic flaw. The tragic flaw brings the downfall of the hero. Othello is the tragic hero, because Othello is a character of nobility. He is good at the beginning but at the end he starts to become evil. ‘‘Othello’s downfall is jealousy (Othello’s Tragic Flaw)Read MoreDoes Brutus â€Å"Qualify† as a Tragic Hero?873 Words   |  4 PagesDoes Brutus â€Å"qualify† as a tragic hero? Marcus Brutus does qualify as the tragic hero in Shakespeare’s play The Tragedy of Julius Caesar. A tragic hero is a good or even great man and thus wins our sympathy causing catharsis. A tragic hero displays hamartia— the hero makes a mistake causing the downfall of his fortune. A tragic hero usually brings suffering and death to other characters, even a whole country. Finally, a tragic hero goes into a situation in which there is no gettingRead More Marcus Brutus as Tragic Hero in Shakespeares Julius Caesar Essays735 Words   |  3 PagesMarcus Brutus as Tragic Hero in Shakespeares Julius Caesar      Ã‚   In many stories there is a tragic hero. The hero finds out about himself and the people around him in the story. In Shakespeares play, Julius Caesar, Marcus Brutus is the tragic hero. The play Julius Caesar is about politics and betrayal in ancient Rome. Brutus is part of the senate, which is below Caesar, who is soon to be crowned. The senate wants to overthrow Caesar to save Rome. To do this the senate has to get BrutusRead MoreMarcus Brutus as the Tragic Hero in Shakespeares Julius Caesar1267 Words   |  6 PagesBrutus as the Tragic Hero in Shakespeares Julius Caesar Because of Shakespeares popularity among scholars and literary critics, his plays have been studied time after time. In the four hundred or so years since they were written, Shakespeares plays and other literary masterpieces have been categorized. Many of them, including Shakespeares portrayal of Julius Caesars murder and the resulting events for Rome and for Caesars conspirators, have been put into the tragedies category. AccordingRead MoreJulius Caesar : A Tragic Hero1171 Words   |  5 PagesJulius Caesar Julius Caesar, the greatest war hero and most noble of all wanted to be praised by all Roman citizens wanted to achieve power to rule as a king. The play is set in ancient Rome in the year 44 B.C. when the Roman general Julius Caesar was almost ruler of the entire world at the highest point in his career. Within this play Julius Caesar is portrayed as a tragic hero. A tragic hero is defined as â€Å"the main character of a tragedy [who is] usually dignified, courageous, and high ranking†Read More Brutus is the Tragic Hero of Julius Caesar Essay858 Words   |  4 PagesBrutus is the Tragic Hero of Julius Caesar      Ã‚  Ã‚   Shakespeares play Julius Caesar is a tragic play, where the renowned Julius Caesar is on the brink of achieving total control and power by becoming emperor of the Roman Empire. Ironically enough, when he thinks he is one step away from pulling it off, his friends (most from the senate) decide to overthrow him, with Caesars most trusted friend, Marcus Brutus, acting as leader of the conspirators. Though the fall of Caesar from the mostRead MoreJulius Caesar by William Shakespeare646 Words   |  3 Pagesof a tragic hero, and the tragic hero is someone of greater power or high standing obtaining a flaw. One of Shakespeare’s greatest tragedies is the story of Julius Caesar. In this story, the main character, Julius Caesar, is plotted against his best friend, Brutus, and the head of the conspiracy, Cassius. After Caesar gets assassinated, his right hand man, Mark Antony, tries to get revenge on the people that killed him. However, in this particular story, the main character is not the tragic heroRead MoreJulius Caesar the True Tragic Hero1526 Words   |  7 Pagesonce said â€Å"A man doesn’t become a hero until he can see the root of his own downfall.† These words best describe what a â€Å"Tragic Hero† is and both Julius Caesar and Brutus displayed this characteristic, so the question is â€Å"Who is the real tragic hero in this story?† This paper shall explore the reasons behind why each man is considered a hero in his own right and who the rightful owner to the title of the play truly belongs to. There have been countless tragic heroes in the works of William Shakespeare

The Characteristics of Partnership Free Essays

Partnership is one of the most popular types of enterprise in Vietnam. A partnership is an unincorporated association of two or more individuals to carry on a business for profit. Many small businesses including retail, service, and professional practitioners, are organized as partnerships. We will write a custom essay sample on The Characteristics of Partnership or any similar topic only for you Order Now Like the other types, partnership contains its own features and characteristics which help to differentiate itself from the others. First of all, in terms of the number of partners, there are no less than two partners who are joint owners of the company and carry out business. In addition to general partner, there may also be limited partners. General partner is required to be individual and will be liable to all obligations of the partnership with his entire property, while limited partner will be liable to debts of the partnership only to the extent of their capital contributed to the partnership. It should be pointed out that there are restrictions on the rights of general partners. General partner cannot be sole proprietor or general partner of another partnership, unless otherwise agreed by remaining general partners. Besides, general partner is not allowed to act on his own behalf or on behalf of other persons in implementing the same business activities of the partnership for the benefit of himself or other. Also, general partner is not permitted to transfer a part or whole of his capital contribution to others. It is necessary to mention that a partnership will be given legal status from the issuing date of the certificate of business registration and that partnership is not entitled to issue any type of securities. The next characteristic of partnership is limited life. The life of a partnership may be established as a certain number of years by the agreement. If no such agreement is made, the death, inability to carry out specific responsibilities, bankruptcy, or the desire of a partner to withdraw automatically terminates the partnership. Every time a partner withdraws or is added, a new partnership agreement is required if the business will continue to operate as a partnership. With proper provisions, the partnership’s business may continue and the termination or withdrawal of the partnership will be a documentation issue that does not impact ongoing operations of the partnership. Unlimited liability is another feature relating to partnership. This is the prominent feature of partnership that the liability of each partner is not limited to the amount invested but his private property is also liable to pay the business obligations. Partners may be called on to use their personal assets to satisfy partnership debts when the partnership cannot meet its obligations. If one partner does not have sufficient assets to meet his/her share of the partnership’s debt, the other partners can be held individually liable by the creditor requiring payment. There must be agreement between the parties concerned. This is the most important characteristics of partnership. Without agreement partnership cannot be formed. But only competent persons are entitled to make a contract. There are some provisions contained in the partnership agreement. These are determined clearly before the commencement of business. But it differs from business to business. These documents may be written or oral. But it must be written so that disputes may be settled according to the provisions of agreement. Moreover, in terms of capital contribution, it is stated that general partner and limited partner are required to make capital contribution fully and promptly as committed. General partner who does not make capital contribution so fully and promptly that cause losses to the company must compensate for those losses. If a limited partner does not contribute capital fully and promptly as committed, deficiency in the capital contribution will be considered as his/her debt to the company; in this case, such a limited partner may be expelled from the partnership by a decision of the partners’ council. By contrast, with a full capital contribution, partners will be granted a certificate of capital contribution. Another characteristic that belongs to partnership is the division of profits or losses. It is not essential that all the partners must share the losses also. There may be a provision in the partnership deed that a particular partner or partners shall not bear losses. The profit is arrived at after providing for salaries to the partners and interest on capital, if agreed and stated in the agreement. That last but not least feature of partnership is about the business management. Firstly, it is specified that all general partners are entitled to act as legal representative of the partnership in carrying out business activities. Any restriction applicable to general partners in relation to conducting day-to-day business activities of the partnership will be effective to the third party if this party is informed. Secondly, general partners will agree on division of their duties in relation to management and running of the company. If a business activity is carried out by several partners, the decision will be adopted on the principle of majority. Additionally, the partnership will not be liable to any activity that is conducted by general partner and outside the scope of business activities of the partnership, unless otherwise agreed by the partners. Thirdly, the partnership can open one or several accounts with a bank. The partners’ council will appoint one partner who is required to deposit and withdraw money from those accounts. Lastly, chairman of the partners’ council, director or general director of the partnership is obligated to: manage and run the day-to-day business operation as a general partner; convene and organize meetings of the partners’ council, sign decisions of the partners’ council; make arrangement of business activities and coordination between partners, sign decisions promulgating internal rules and other working regulations of the partnership, retain fully and honestly all accounting books, invoices and other documents in pursuant to the laws, act on behalf of the partnership in working with state authority, play the part as a plaintiff or defendant in lawsuits or other commercial disputes as well as other duties as stipulate in the company charter. How to cite The Characteristics of Partnership, Essay examples

Superstition Essay Example For Students

Superstition Essay Writing on the wallSuperstitions exist everywhere in the world. Every country on the planet has its own local superstitions. Each country also has its own variations on common superstitions. Some of the most common superstitions have to do with cats, alcohol, and death. Cats have been domesticated longer than any other animal. Humans have even worshiped them; therefore, it makes sense that there are innumerable superstitions worldwide involving them. In the United States, there is a belief that if a black cat crosses your path, you will have bad luck. In Germany, whomever harms or kills a cat shall meet with great misfortune. In France, there is a superstition that it is bad luck to cross a stream carrying a cat. In the Ukraine, it is believed that if you give a cat gin before sundown you will have much misfortune. We will write a custom essay on Superstition specifically for you for only $16.38 $13.9/page Order now Alcohol is considered to be the bane of society by many people worldwide. Having existed for thousands of years, alcohol has many superstitions associated with it. In the Czeck republic, it is considered bad luck to serve alcohol on Christmas. In the US, it is considered bad luck to not serve alcohol on Christmas. In Germany, it is believed to be good luck to drink three or more drinks with the groom immediately before the wedding. In Poland, they believe that if one consumes alcohol before noon, one will die young. Death is the one thing feared most by humans. They attempt to justify death by creating superstitions. Many of these superstitions have to do with agriculture. In China, it is believed that when a farmers child dies on a harvest moon, there will be an excellent crop the next year much like in The Lottery; death leads to a good harvest. In Brazil, it is believed that when a farmer dies during harvest, his crop will carry no value. Around the world, there are many reappearing themes for superstition. Some of these themes are cats, alcohol, and death. Every country has its own localized take on each theme.

Wireless Networking essays

Wireless Networking essays Wireless networking is a quickly growing trend in the technology field. But unlike most trends in this business, wireless is here to stay. Businesses and individuals alike enjoy the speed and convenience of wireless networking. There are no wires to deal with, making the desk and floor space around the area less cluttered. For these reasons and more that Ill discuss here wireless networking is not going to go away like some technologies of the past. Lets start off by taking a few minutes to talk about networking in general, what it is and how it works. Networking is taking one or more computers and/or printers and connecting them in such a way that they can communicate with each other and share information. This is done either by connecting all computers together so that they communicate with every other computer on the network, or by connecting all of them to a centralized server. The server stores all information for the network so that when a user request a file he/she just looks on the server and doesnt have to know which computer the file is located on. Putting a centralized server in a network makes administration of the network much easier. Whether it be a roll out of an operating system or the implementation of new software program, putting it on a centralized server and rolling it out from there makes an administrators job much easier. This is usually done on larger networks. For smaller networks workgroups are normally set up. In workgroups all files are stored on the computer where they were created and are shared across the network. The creator (owner) of the file can give permissions to whomever he/she wants to control who sees, edits, adds too, or deletes the file. This type of network is only recommended for networks smaller than ten computers. Of course I would recommend no more than five or six computers but its up to the person implementing the network to decide their individual needs. ...

Religion in Germany

Religion in Germany For good reason, the intersection of the huge topics â€Å"religion† and â€Å"Germany† is understandably Martin Luther. Luther was born in Eisleben, Germany, in 1483, and his family soon moved to Mansfeld, Germany. Luther received a superb basic education in Latin and German, entered the University of Erfurt in 1501, where he received his baccalaureate degree in 1502 and his master’s degree in 1505. Urged by his father, Luther undertook graduate work in law, but switched to theology within six weeks, owing, he said, to a violent thunderstorm that so terrified him (â€Å"besieged by the terror and agony of sudden death†) he promised God to become a monk if he survived. Luther began his so-called priestly formation at the University of Erfurt, became a priest in 1507, transferred to the University of Wittenberg in 1508, and completed his doctorate in 1512, which the University of Erfurt granted based on his studies at Wittenberg. Five years later, the rift with Catholicism that became the Protestant Reformation began and the ripple effect of Luther’s Ninety-five Theses in 1517 changed the world forever. Today, Germany is still a Christian nation, although, in keeping with religious freedom, there is no official religion. â€Å"Religionen Weltanschauungsgemeinschaften in Deutschland: Mitgliederzahlen† analyzed results of the 2011 census and found that ca. 67% of the population identified themselves as Christian, i.e., Protestant or Catholic, while Islam comprised ca. 4.9%. There are very, very small Jewish and Buddhist groups that are barely measurable, so the remaining population, i.e., ca 28%, either belong to unidentified religious groups or do not belong to any formal religious group. The German constitution (Grundgesetz fà ¼r die Bundesrepublik Deutschland), which opens with these stirring words: â€Å"Human dignity is inviolable,† guarantees freedom of religion for everyone. The core of this guarantee of religious freedom is based on â€Å". . . the freedom of religion, conscience and the freedom of confessing one’s religious or philosophical beliefs are inviolable. Uninfringed religious practice is guaranteed.† But the guarantee does not stop there. The very nature and form of the government reà ¯nforce and bolster that guarantee with many safeguards that strengthen one another synergistically, e.g., a democratic society, popular sovereignty, a strong emphasis on social responsibility, and binding federalism among the sixteen German states (Deutsche Bundeslnder). There is an excellent, in-depth discussion of religious freedom in Germany in Wikipedia  which provides many details and examples for those who wish to know specifics. It is certainly worth one’s time. The overall distribution of religious affiliations can be outlined roughly as follows: you’re more likely to encounter Protestants in the North and Northeast and Catholics in the South and Southwest; however, â€Å"Germany Unity†- the joining of the German Democratic Republic (the â€Å"DDR†) and the Federal Republic of Germany (the â€Å"BRD†) on 03 October 1990- skewed this rule of thumb. After 45 years of communist rule in East Germany, many, many families had drifted away from religion altogether. So, in the former German Democratic Republic, you’re more likely to encounter individuals and families who don’t identify themselves with any church affiliation. Despite the rough geographic distribution of various religious adherents, many of the holidays that began as religious holy days centuries ago are still part of German culture, regardless of location. â€Å"Fasching†- also known as Karneval, Fastnacht, Fasnacht, Fastelabend- begins either a 11:11 on 11 November or on 07 January, the day after the Feast of the Three Kings, depending on your locale, and runs until Ash Wednesday (der Aschermittwoch), the beginning of Lent- the fortyday period of fasting and abstinence immediately preceding Easter. Knowing that they will have to set their frivolity aside during Lent, people party extensively; perhaps to â€Å"get it out of their system† (verrà ¼ckt spielen). The celebrations are mostly local and vary from village to town to city, but inevitably culminate in the week leading up to Ash Wednesday. Participants dress in outlandish costumes, prank one another, and generally try to have a frivolous time. It’s mostly harmless, playful, and inconsequential silliness. For example, Weiberfastnacht is the Thursday before Ash Wednesday, usually in the Rhineland, but there are pockets of Weiberfastnacht all over. Women kiss any man who catches their fancy, snip off their ties with scissors, and end up in bars to laugh, drink, and recount the day’s exploits. There are parades of various sorts and sizes over the weekend before Easter weekend. Costumes abound, groups strut their stuff (â€Å"stolzieren ungeniert†), as they say, with lots of good-humored hooting and hollering. Rosenmontag, the Monday before Ash Wednesday, has the most extravagant carnival parade in Cologne, but very respectable rival parades also take place throughout the Rhineland, all of which the German television network broadcasts, not merely nationwide, but to other Germanspeaking areas, particularly in Austria Switzerland. The next day, Fastnachtdienstag, additional parades take place, but the focal point of this day is the so-called burning of the â€Å"Nubbel†. The Nubbel is a straw-filled figure- a scapegoat- that the merrymakers fill with all the sins they committed during the carnival. When they burn the Nubbel, they burn their sins away, leaving them with nothing to regret during Lent. After sacrificing the Nubbel and not wanting to waste a good Lent at their disposal, the revelers once more start partying into the wee hours of the night just before Ash Wednesday, in hopes of having something about which they can be a bit contrite, even remorseful. This attitude is in keeping with a very human exchange Luther had with Philip Melanchthon, one of Luther’s companions and an early Protestant theologian. Melanchthon was a rather circumspect man whose unwavering mien annoyed Luther from time to time. â€Å"For goodness’ sake, why don’t you go and sin a little?† urged Luther in exasperation. â€Å"Doesn’t God deserve to have something to forgive you for!† For the record, Martin Luther was a rather lusty, earthy monk who, after the Catholic Church excommunicated him, married and commented several times about how delightful it was to awake to find â€Å"braids on the pillow† next to his. Luther would have loved and sanctioned the very ethos of Fasching, for he said â€Å"Wer nicht liebt Wein, Weib, und Gesang, Der bleibt ein Narr sein Leben lang.† (â€Å"Who loves not women, wine, and song, Remains a fool his whole life long.†)

Assume that you are a legal officer in the Department of Foreign Dissertation

Assume that you are a legal officer in the Department of Foreign Affairs in your country of nationality (Cyprus). You have been - Dissertation Example However, this announcement might be seen as a mere formality since the League of Nations provisionally recognised Palestine as an independent state as well as the 1922 Mandate for Palestine that awarded Palestine to Great Britain.1 Again in 1947, the United Nations General Assembly passed Resolution 181(11) Future Government of Palestine mandated the division of Palestine into two states: a Jewish and an Arab state. In 1948, the Jewish state was proclaimed as the State of Israel.2 Attempts and progress with respect to the recognition of an Arab Palestinian state however has been turbulent. The 1988 declaration did nothing to change the status quo.3 Palestine has had a difficult time achieving what many feel is its legal right: independent state status. This difficulty surrounds the lack of recognition within the international community, a necessary prerequisite for the effective acquisition of state status.4 A main part of the problem is the Arab League’s opposition to the rec ognition of Israel as an independent state. This has created significant tensions between Israel and Arabs in the region and Palestinians are paying the price. None of this diminishes the legal elements entitling Palestine to state recognition.5 The debate over the appropriate state status of Palestine is for the most part partisan.6 This report takes a wholly non-partisan approach to the issue of the appropriate state status of Palestine and examines the issue from the perspective of the people of Palestine and its territory. In this regard, separate and apart from political consideration, this reports examines the legal elements of statehood under international law as well as the right of self-determination on the part of the people of Palestine under international customary and human rights law. Cyprus knows all too well the struggles that accompany territorial claims and the denial of the right to self-determination having suffered its own division and struggles for an independe nt state in opposition to both Greece and Turkey.7 This report however, does not advocate for recognising the state status of Palestine out of sympathy, but simply because it is the right thing to do under international law and strengthens Palestine’s recognition by one of only a few member states to the EU. In making the case for Cyprus’ recognition of Palestine as an independent state this report will be presented in 5 parts. The first section provides background and historical context relative to the Israeli-Palestinian conflict and the state status of Palestine. Section 2 examines the Montevideo Convention criteria for statehood in relation to Palestine. Section 3 identifies and analyses the recognition of Palestine as a state within the international community. Section 4 analyses the UN General Assembly Resolution A/67/L.28 which upgrades Palestine’s state status. Section 5 of this report will analyse the right to self-determination under international huma n rights law and its implications for Palestine’s state

Wk8 Assignment Example | Topics and Well Written Essays - 250 words

Wk8 - Assignment Example The second reform in the military intelligence was in the revision of foreign policy between the USA and other countries especially in the Gulf region2. Changes in the intensity of the US surveillance system was important because from the attacks, the USA military realized that with the use of satellite cameras, such attacks from external forces are preventable. The failures in the military prompted the intelligence to conduct an investigation on the possible prior plans that led to the attack. The investigation recommended that a special unit be established that was going to be responsible for collecting information concerning the security situation and sensitive information that could probably lead to attacks. The surveillance system after the attack was able to monitor the terror risk indicators and advise on appropriate timely actions. The US military’s decision to reform its foreign policies was equally important because from then, the US declines to make any diplomatic ties with any country associated with terror3. The failure to prevent the war in Iraq further led to poor relationship between the USA and the Gulf count ries, including abolishment of the already existing diplomatic

Essay --

Introduction There are two types of bacteria that cause Typhus, Rickettsia Typhi and Rickettsia Prowazekii. The form of Typhus depends on which type of bacteria has entered the body and caused the infection. Rickettsia Typhi causes Murine or Endemic Typhus. Endemic Typhus is unusual in the United States. When it is found, its usually seen in areas with poor hygiene and where the temperature is cold. Endemic typhus is sometimes called "jail fever." Murine Typhus typically occurs in the southeastern United States, often during the summer and fall. Risk factors for Murine Typhus include exposure to rat fleas or rat feces. Rickettsia Prowazekii causes both Epidemic Typhus and Brill-Zinsser disease. Brill-Zinsser disease is a far more mild form of Epidemic Typhus. It occurs when the disease re-activates in a person who was previously infected. It is more common in the elderly. Lice and fleas of flying squirrels spread the bacteria. There is no commercially available vaccine against either Endemic or E pidemic typhus. The name given the disease comes from the ancient Greek Typhus meaning smoky or hazy, denoting the condition of mind into which the victim soon lapses after developing his or her first symptoms. Symptoms of Murine or Endemic Typhus may include abdominal pain, backache, raging red rashes, an extremely high fever, hacking followed by a dry cough, headaches, nausea, vomiting and/or joint and muscle pain. Symptoms of Epidemic Typhus may include chills, confusion, Low blood pressure, stupor and/or sensitivity to light. Blood tests may show a low white blood cell count, anemia and low platelets. They may also show a high level of Typhus antibodies, low levels of albumin, low sodium levels and high liver enzymes. Typhus is often c... ...s of Typhus are limited, but the disease has the potential to re-emerge. For example, in Burundi, Africa refugee camps were afflicted in 1997-1998, when about half a million people received the illness. In China in 1999, more than five thousand six hundred people were afflicted following an earthquake. They were forced to live in poor, cold conditions making it the ideal place for a new breakout. In my opinion the United States should entirely rid itself of this disease, including all of the samples held in government labs to preserve as deadly war weapons. The government should also take necessary precaution all over the United States especially in shelters, habitually running tests and routinely ensuring the sanitization of shelters during a natural disaster. These preventive measures will almost guarantee the extermination of the disease in America all together.

Evaluation of Evolutionary Theory of Altruism and the Role of Genes-a Modern View Essay

Evolutionary theory holds that organisms with the strongest genes for survival and reproduction do, in fact, survive and reproduce most successfully. They thus multiply their genes most widely, spreading the advantageous genes through whole populations. Ceaseless repetitions of the process can gradually transform species into totally new ones. Such a world seems to have no place for self-sacrificing types, who presumably couldn’t spread their genes very far. Several competing theories attempt to solve the puzzle. One is that groups with cooperative members out compete groups with selfish ones, and thus spread their niceness genes, in a scaled-up version of the process by which genetically favored individuals trump other individuals. Variants of this notion have gained popularity in the past decade, although it fell from favor earlier, as it has some trouble explaining how altruism got a foothold in the first place. The origin of altruism and cooperation is an enigma because evolutionary theory seems to predict such behavior should be rare or nonexistent. Yet some forms of altruism, conscious or not, are widely documented in creatures as humble as insects and bacteria. Evolutionary theory attempts to explain the evolution of aiding others in two general ways: 1. It argues that genes favoring altruism can spread in future generations if their costs to altruists’ personal reproductive success is outweighed by the benefits in reproductive success of altruists’ relatives carrying copies of the same genes (‘kin selection’). The ratio of these indirect benefits through relatives, versus costs to oneself, needs to be greater the less closely the altruist is related to those helped – i. . , the lower the likelihood the altruist will be helping copies of their genes in the other. 2. It proposes that genes favoring altruism could spread if the altruism is sufficiently reciprocated (‘reciprocal altruism’) (Axelrod, R. & Hamilton, 1981). Biological Altruism versus Psychological Altruism Charles Darwin theorized that all species behave in ways that increase their chances for survival. Often, this survival instinct expresses itself as selfish behavior. Humans (and some animals), however, frequently ignore their personal interests and help others—a behavior called altruism. In volutionary biology, an organism is said to behave altruistically when its behavior benefits other organisms, at a cost to itself. The costs and benefits are measured in terms of reproductive fitness, or expected number of offspring. So by behaving altruistically, an organism reduces the number of offspring it is likely to produce itself, but boosts the number that other organisms are likely to produce. This biological notion of altruism is not identical to the everyday concept. In everyday parlance, an action would only be called ‘altruistic’ if it was done with the conscious intention of helping another. But in the biological sense there is no such requirement. Indeed, some of the most interesting examples of biological altruism are found among creatures that are not capable of conscious thought at all, e. g. insects. Altruistic behavior is common throughout the animal kingdom, particularly in species with complex social structures. For example, Vervet monkeys give alarm calls to warn fellow monkeys of the presence of predators, even though in doing so they attract attention to themselves, increasing their personal chance of being attacked. In social insect colonies (ants, wasps, bees and termites), sterile workers devote their whole lives to caring for the queen, constructing and protecting the nest, foraging for food, and tending the larvae. Such behavior is maximally altruistic: sterile workers obviously do not leave any offspring of their own — so have personal fitness of zero — but their actions greatly assist the reproductive efforts of the queen. Human altruism goes far beyond that which has been observed in the animal world. Among animals, fitness-reducing acts that confer fitness benefits on other individuals are largely restricted to kin groups (Trivers, 1971)(Axelrod & Hamilton, 1981). Where human behavior is concerned, the distinction between biological altruism, defined in terms of fitness consequences, and ‘real’ altruism, defined in terms of the agent’s conscious intentions to help others, does make sense. (Sometimes the label ‘psychological altruism’ is used instead of ‘real’ altruism. ) What is the relationship between these two concepts? They appear to be independent in both directions ( Sober, 1994). An action performed with the conscious intention of helping another human being may not affect their biological fitness at all, so would not count as altruistic in the biological sense. Most often, evolutionary psychologists explain the presence of social behavior like altruism in humans and other animals by reference to kin selection. Kin selection is the idea that natural selective pressures can favor a gene if it provides a trait that makes one’s relatives more likely to survive because that relative likely carries many of the same ( Dawkins, 1976) . Ultimately, I tend to find arguments for kin selection unconvincing for a whole host of reasons, among them: There’s seldom any consideration of the neural mechanisms that might be responsible, only the assumption that the ‘gene’ will cause altruistic behavior if it is favorable to the gene’s transmission and the most recent findings with the function of neurotransmitters like dopamine, serotonin and norepinepinephrine along with others prove there is no validity to kin selection and giving importance to individual affect and emotions including the feeling of euphoria in being altruist. ) An inability to explain why, if natural selection cares about our close relatives so much, our ‘altruism gene’ couldn’t be much more selective about who we feel altruistic about . ) The kin selection perspective tends to take an adaptationist view of natural selection, assuming that organic variation can easily produce candidate ‘adaptations’ to suit any environment and that all traits of an organism are necessarily adaptive (when, in fact, it’s a whole organism that is selected, not each individual trait, and traits are often connected genetically so that selection might be acting on another trait produced by the same gene) (Haldane , 1955). ) The problem of how closely related we need to be to kin for our altruism to really be a selective advantage if we are in competition with each other is frightening (Goldschmidt, 2006). The evolutionary process can generate behaviors that can be experienced in the evolutionary process but whose meaning can be completely detached from its original biological motivation. Let’s say that the evolutionary process produced a set of prompts in females, say big breast, which at the time were a sign of a woman’s ability to produce more milk for her babies (more kids they can produce and feed, the more genes will propagate, so men instinctively desire to want to mate with these females ). Lets now imagine that these females became sterile and the obsession for big breast had nothing to do with its original motivation. Taking from such observations we can say that a behavior which probably has been natural selection in the evolutionary process as Darwinian view suggests. However the same behavior may develop new motivations and may lose original evolutionary purpose altogether. For instance, it is entirely possible that pleasurable sex originated because organisms that â€Å"felt good† having sex had more of it and thus passed on more genes. Sex today serves entirely different role and in most cases is entirely unrelated to childbearing in humans. To trace altruistic behaviors in humans to evolutionary history based entirely on Darwinian concepts of reproductive success does not grab the trends in its entirety. It is possible that throughout the course of evolution certain nervous systems bound tightly with others for reproductive success reasons. However, it should be kept in mind that altruism is a set of behavioral concepts that originated in the things we can study and use as objects of exploration. True altruism can likely be a rewarding behavior that has little to do with its original biological altruism. Certain behaviors which give a greater chance of propagating our genes are likely to make us feel good so that people who feel good about such actions may have more offsprings. If a mother felt good about saving her kid, it is possible her brain is organized in a way that she feels good saving another kid who is not hers. However, we can say nothing about the question of why it makes us feel good, unless we undertake the task of finding the mechanism of both the biological evolutionary reasons as well as cultural components which caused the changes in the brain. The brain is structured in such a way that the feeling of compassion can be felt within its manifestation (limbic system, prefrontal cortex along with neurotransmitters dopamine, serotonin and norepinephrine)(Moore, 1984). We can say that there are lot of levels of organization between original evolutionary purpose and its eventual expression. Some of the most fundamental questions concerning evolutionary origins of altruism and selfishness need to be dealt with a multifactorial approach. Experimental evidence indicates that human altruism is a powerful force and is unique in the animal world. However, there is much individual heterogeneity among altruists . Current gene-based evolutionary theories cannot explain all important patterns of human altruism, pointing towards the importance of both theories of cultural evolution as well as gene–culture co-evolution. For evolutionary scientists, altruism is one of the great mysteries: it feels good, is linked to better mental and physical health, and is intrinsic to who we are, yet no one can quite explain how it evolved. The Feel-Good Chemicals and Altruism Now a new study suggests that altruism may be partly guided by genes that regulate the neurotransmitter dopamine — the one linked to craving, pleasure, and reward. Dopamine, referred to as a neurotransmitter in the brain’s reward mechanism, can be artificially released at very high levels by drugs such as heroin and cocaine, leading to euphoria. If altruism operates along the same lines, it would mean that the altruist gets the same feeling, albeit at much lower volume, as a cocaine user. The feeling becomes an incentive to help others again. Dopamine is widespread in the brain as well as the rest of the nervous system and plays a very important role in pleasure, love, libido, motivation, salience and integration of thoughts and feelings. This neurotransmitter plays a critical role in the control of movement. It has a stimulating effect on the heart, the circulation, the rate of metabolism, and is able to mobilize many of the body’s energy reserves. It helps to modulate brain activity, control coordination and movement, and regulate the flow of information to different areas of the brain. Dopamine is believed to release chemicals that allow us to feel pleasure (e. g. , endorphins). A massive disturbance of dopamine regulation in the brain can result in a person no longer being able to respond emotionally or express his or her feelings in an appropriate way (e. g. , schizophrenia). Our brains release favorable hits of dopamine when we engage in selfless behavior. Some individuals may be more genetically predisposed to altruism than others and that could be based on individual neurochemistry. This can be explained with the evidence from neuroscience. It’s said that altruism results in elevated serotonin levels as well. Serotonin happens to be the most widely studied neurotransmitter since it helps regulate a vast range of psychological and biological functions. Serotonin (5-hydroxytryptamine or 5-HT) was first identified in 1948. The wide extent of psychological functions regulated by serotonin involves mood, anxiety, arousal, aggression, impulse control, and thinking abilities. Other brain chemicals, such as dopamine and norepinephrine, also influence mood and arousal along with serotonin. It is said that altruism results in elevated serotonin levels. Serotonin is a neurotransmitter and also a neuromodulator for dopamine. It can mobilize the energy reserve of the body and aid in maintaining dopamine function in brain circuits of mood and thought; mesocortical and mesolimbic pathways. Dopamine has 5 receptors and subsets of dopamine genes vary in the general population, and the study finds that a specific, common subtype is highly linked to altruistic behavior. The research, conducted at Hebrew University and other centers, was published in the journal Molecular Psychiatry in 2005. Psychologists and geneticists looked at 354 families with more than one child, measuring the individuals’ tendencies to ignore their own needs and serve the needs of others — a trait associated within dopamine genes. They then analyzed the individuals’ dopamine receptors for well-known variations, or genotypes. Their fascinating findings: the most common genetic subtype — known as the D4. 4 — was significantly linked to altruistic behavior, regardless of whether the receiver was a relative. But in general, say the scientists, this gives us the first hard evidence that many of us are indeed â€Å"hardwired† for giving. It may be that generosity feels good because it is rewarded by spikes in dopamine. The scientists even speculate that further research could reveal variations in dopamine genes that favor generosity to kin, and others that favor giving to all and thus these neurotransmitter studies give us latest information regarding both an excellent counter-argument to the ‘selfish gene’ hypothesis as well as a much more persuasive account of the possible evolutionary origins of altruism than the typical explanation like kin selection (Neimark, 2006).

Norman Foster Portfolio of Buildings and Projects

Catherine Of Sienna And Dante - 1486 Words

Melissa Rice Catherine of Sienna and Dante Catherine of Sienna and Dante Alighieri interacted very differently in each of their spiritual and medieval Christian societies, but they had three things in common. They were both Christian, writers, and they both lived and endured the Middle Ages, which were roughly between 5th and 15th century. This was the era between the Fall of Rome and the Renaissance. This was a dark time, and was perfectly referred to as the Dark Ages. One might wonder why it was referred to in this way. There are two main reasons why it was called this. One was the bubonic plague, also known as the Black Death. The majority of the extremity was during the 1340s. Approximately two million people in Europe dropped dead†¦show more content†¦At this time the clergy of the church became more powerful than the royals. Having a religious leader rule sounds like a positive thing to most people of faith. The problem was one did not necessarily have to be a devout Christian to be a head of the church. One di d not even have to be a theologian. Some people just became church leaders for the easy lifestyle that included a great salary and house. All of the money came from the citizens having to pay tithes, those were around ten percent of their earnings. They took advantage of their power and did not bring glory to God with it. Dante despised the church for this corruption. Most of his bitterness for the church though came from his disagreements with the church leaders. He made many enemies throughout his life from his opinions. The Divine Comedy was a way for him to send them all to Hell, figuratively. Dante knows a lot of people, and likes to talk with the politicians and clergy while he was down in Hell. One of the people in the poem that was mentioned was Pope Nicholas III who confessed to Dante that he tried to buy himself into Heaven. He hates himself for it and is full of grief but he mentioned that there are so many worse people on Earth who have a more horrible fate. Dante does n ot have any sympathy towards Nicholas. He believes that his punishment fits the crime. Then Dante breaks and tells his negative

The Mind s Eye By Leslie Bell - 1463 Words

Every human has their own limits. There comes a point where your body can’t physically or mentally overcome some obstacles; but that’s okay. Limitations that can be viewed as hindrances to some, while other’s view their adversities as challenges that will not only strengthen them as a person but allow them to mature through their obstacles. In Leslie Bell’s â€Å"Hard to Get: Twenty-something Women and the Paradox of Sexual Freedom†, Bell coins the term â€Å"splitting† in her writing as a way of thinking that can limit people when it comes to opportunities in their careers as well as relationships. In â€Å"Selections from Love 2.0: How Our Supreme Emotion Affects Everything We Feel, Think, Do, and Become†, Barbara Fredrickson focusses on the†¦show more content†¦With the constant push for conforming into what society deems as acceptable, it is no surprise how much of an impact society plays on limiting the perception of what one’s sexual relationship should be. Society manipulates women into behaving in a certain manner in order to fit into this ideal mold of how women should be. Yet only to a certain point, â€Å"Be assertive, but not aggressive. Be feminine, but not too passive. Be sexually adventurous, but don’t alienate men with your sexual prowess.† (Bell 26) Due to all of the conditions, which limit women, it is no wonder how many young women feel â€Å"weighed down by vying cultural notions about the kind of sex and relationships they should be having.† (Bell 26) Although these limitations proposed by society can cause personal battles between oneself, it is possible to change one’s perception of how one should act regarding their own sexuality. Bell points out that by using â€Å"strategies of desire of the Relational Woman†, (Bell 30) this will assist woman in navigating through their sexual and romantic lives. It is normal for women to feel a desire for relationships and it is inevitable that conflict will arise. If women are able to develop and fully accepting their desires, despite the limitations from society, this will to lead women to building lives that are filled with self-acceptance. Another way to push yourself from the limitations proposed by society, is to look at love in

Financial Analysis of I.T Ltd. Free Essays

Company background I. T Limited (0999. HK) is an investment holding company based in Hong Kong. We will write a custom essay sample on Financial Analysis of I.T Ltd. or any similar topic only for you Order Now It was listed on the main board of The Hong Kong Stock Exchange on 4-March-2005. The company offers a wide range of apparel products. It sells its products as well as offers a variety of national and international brands through its network of retail stores. As of February 28, 2011, it operated 392 stores in Hong Kong and Mainland China. Objective To undertake a comprehensive analysis on the financial performance of I. T. Limited. Detailed financial ratio analysis will be performed. An estimation of the firm’s cost of equity capital and weighted average cost of capital will also be provided. Horizon of analysis We will focus on its performance in the latest 5 fiscal years. A) Detail financial analysis The financial analysis will be conducted in two ways. First, the major accounts on financial statements will be inspected in order to derive a general picture on the healthiness of the business. Second, PERL (Performance, Efficiency, Risk, Liquidity) framework will be used to further analyze the financial performance of the company. I. Going through the financial statements We can get a glimpse of the healthiness of the business by looking into the trend of accounting items in income statement, balance sheet and cash flow statement respectively. Consolidated income statement (Referring to appendix A – table 1 and 2) 2008/09 was a special year, financial tsunami happened. Therefore there was a huge profitability impact in that year, resulting in a large decrease in operating profit. And since the market recovered in 2009/2010, the profitability suddenly increased a lot in that fiscal year. Other than these wo special years, the overall growth trend in sales turnover, costs, and profit is healthy. (Referring to appendix A – table 3) Standardizing the income statement can extract extra information. All the accounts are expressed as a percentage of turnover. The company has done a good job in cost controlling, since the cost of sales as a percentage of turnover is in a decreasing trend, hence the gross pr ofit margin is in an increasing trend. On the other hand operating expenses fluctuates at about 50-51% of turnover, but since cost of sales has a greater decrease, the net effect is operating profit is in an increasing trend. Consolidated balance sheet (Referring to appendix A – table 4) In general, total assets experience an increasing trend. This is reasonable since the business is at a growing stage. One notable point is the growth of non-current assets look greater than current assets, especially property, furniture and equipment has a very significant increase in 2010/11, this is probably due to the rapid expansion of retails stores in Hong Kong and China. And as a result, there is a significant increase in inventories in 2010/11 too. (Referring to appendix A – table 5) Similar conclusions can be drawn by viewing the same accounts in a standardized balance sheet (all items are standardized by total asset value in the fiscal year). Property, furniture and equipment, and inventories make up most of the total assets. (Referring to appendix A – table 6) Liabilities also grow a lot with total assets as the business expands. Notably there is a significant increase in both short-term and long term bank borrowings. In addition the payable accounts also increased more than 100%, meaning that the company bought stocks or services from suppliers on credit more than before. This growth of liabilities is fine as long as the company can generate consistent operating cash flows, as we will see in the next section. (Referring to appendix A – table 7) Similar conclusions can be drawn at standardized balance sheet, bank borrowings and payables increased significantly, especially for longer term bank borrowings. (Referring to appendix A – table 8) The growth of the business was mainly funded by growing liabilities, as we can see that the growth of equity is not so significant, the company has not issued new shares to get funding. The company has simply retained some of the profit in each year into reserves. Consolidated cash flow statement (Referring to appendix A – table 9) The company has improved its cash flow generation as its business grew. The profitability of the company increased, and so as the cash generated from operation. And since the company has increased in size, it has increased its ability to finance from banks, therefore it also increased its cash generated from financing activities. Although the company has increased investment in fixed assets and hence the cash outflow from investment, this is offset by the increase in cash flow from operation and financing. II. PERL (Performance, Efficiency, Risk, Liquidity) analysis (Referring to appendix B and C) 1) Performance Profit margins (Gross, operating, net) Gross profit margin keeps increasing. The latest figure is 63. 35%, which is a very high margin. This is probably due to the increased brand image of the company, hence the company can increase the selling price of the products. Also, the company shifted the focus on selling products of its own brands more than imported brands, this also increased the gross profit margin. Both operating and net profit margin are also in an increasing trend (despite year 2008/09, a special year which financial crisis happened). But it is worth noting that the current margins are 12. 08% and 10. 12% respectively, which show a great difference from gross profit margin. This indicate the operating expenses are very high, eating up more than 50% of profit margin. The company should think ways to further reduce operating costs. Return on Equity (ROE) The company has increased its ROE along the years despite the special year 2008/09. The latest ROE is actually a high return, 21. 6%. So what are the main drivers of such high return? By utilizing DuPont analysis, the reason for return growth can be found: ROE = Net Profit Margin x Asset Turnover x Financial Leverage The net profit margin is increasing throughout the years. At the same time, since the financing ability of the company has increased, the financial leverage also increased. These two factors drove the ROE up, offse tting the diminishing effect on ROE by asset turnover. The asset turnover actually decreased in last two fiscal years, indicating the efficiency of turning asset to revenue decreased. It is a bit worry to see the ratio decreased from 1. 6 to 1. 17 in these 2 years. It may indicate that the asset size of the firm is too large, further expansion may not bring further increase in revenue. This may be an indicator of the firm has passed its optimum point and management must take extra care in evaluating whether the company should invest in expanding more retail stores or not. Extended DuPont analysis breaks down net profit margin into tax burden, interest burden, and EBIT margin. Tax burden of the company is actually increasing, i. e. it has to pay more effective tax hence impacting the net profit margin. But it’s still fine as the effective tax rate is still at about 20%, which should be quite low when compared to effective tax rate outside Hong Kong and China. Interest burden also experiences an increasing trend. This is reasonable since the company has increased financing ability and financed through more bank loans. EBIT margin is increasing, offsetting the negative effect of tax burden and interest burden. 2) Efficiency Fixed asset Fixed asset turnover is in a decreasing trend (from 16. 08 to 7. 98 in last five years). This indicates the efficiency of generating sales revenue from fixed assets investment is lowering. This confirms with the decreasing asset turnover ratio mentioned above. However the ratio is still at a high level, the management should still invest in fixed asset and expand the business, but extra care should be taken to determine the amount and scale to be invested. Inventory Inventory turnover is decreasing (from 3. 72 to 2. 48 in last five years). This indicates that in general, the speed of stocks selling has slowed down as the business expands. When this ratio is converted to days of inventory on hand, the meaning can even be clearer. The days increased from about 98 days to 147 days in these 5 years. Overstocking, importing or producing products which are not popular, or insufficient marketing efforts are all possible reasons to this decreasing efficiency. Receivables Receivables turnover is decreasing. To get a clearer meaning, the ratio is converted to days of sales outstanding, and this ratio is increasing (from 1. 97 to 11. 49). This ratio means on average how many days the company’s customers who buy on credit will pay their bills. This increasing ratio means that it takes more time to collect the bill from customers, meaning that capital has to be tied up for longer period. However the number actually is not large, it’s about 12 days and therefore an acceptable value. Payables Payables turnover decreased from 11. 14 to 5. 51. The ratio can be converted to number of days of payable. This ratio increased from 32. 76 to 66. 23. This ratio is the average amount of time it takes to pay its bills. The time has increased significantly. It showed the advantage of the growth of the company, i. e. when the company went listed and expanded, the ability to pay on credit increased. This increased time to pay bills increases the flexibility to manage working capital and hence benefits the operation of the company. Working capital The effectiveness of the company in using working capital has increased since the working capital turnover increased from 2. 72 to 4. 46 in last five years. This means that more sales revenue is generated for each dollar of working capital which funded the sales. This is probably due to increased size of the company, so that the company can get more funding by short-term bank loans, and increase its payables to different creditors. These increased funding are used to purchase inventories to generate sales revenue. 3) Risk Gearing All debt-to-equity, debt-to-asset and financial leverage ratios are in an increasing trend. As the company grows, more funding is needed. Financing by debt issuance is better than equity issuance since the required return by debt is lower, and there is possible tax advantage on debt payment. These three ratios are still in a healthy range and further increase in the ratio is still possible. Debt-to-common equity ratio is 0. 32 and debt-to-asset ratio is 0. 18, these two numbers are fairly low. This indicates that the company has a considerable capacity in debt financing if needed. Coverage Interest coverage ratio maintains at a high level (159. at 2010/11), although the company has increased financing by bank loans. That means the operating profit is more than enough to cover the interest expense and indicate that the business is healthy. Cash flow coverage ratio is also at adequate level despite it has fallen a bit (50. 54 at 2010/11). This is also a healthy signal because net cash flow is positive and adequate. 4) Liquidity Cash conversion cycle Cash conversion cycle is t he days the company takes to convert its investment in inventories back into cash. The company has an increased cash conversion cycle, due to the increase in days on inventory on hand. This is still an acceptable length (92. 15 days), but the company should try to lower the days in inventory on hand as mentioned above. Current and acid test ratio Both current and acid test ratio are decreasing, but they are still at a healthy level. Current ratio is at 1. 85, meaning the current assets are 1. 85 times of current liabilities, which is sufficient for its short-term obligations. Acid test ratio is 1. 12, meaning the cash-like current assets are 1. 12 times of current liabilities, indicating that it is sufficient to cover its short-term liabilities by short-term cash. Operating cash flow to maturing obligations This is also a measure of the company’s ability to meet short term liabilities from cash flow. Although the overall cash flow has improved, the current liabilities has also increased considerably, therefore this ratio is not at a high level (0. 44). The major cash outflow is from purchasing fixed assets and repayment of bank loans. Management should control the cash outflow in these two areas in order to improve the overall liquidity. III. Summary The company has a healthy business. It has an increasing net profit and positive cash flow. The ROE and profit margin are at good levels. It utilized bank loans to further expand its business, while the leverage ratios are still in a healthy range. There is no liquidity problem associated with the company as seen in liquidity ratios. However the management should focus on improving the efficiency of the company while expanding the business. The major concern here is reducing days of inventory on hand, in order to reduce the length of cash conversion cycle. To sum up, this is a company with good financial performance, and therefore it is worth to invest in this company. B) Cost of equity capital Capital Asset Pricing Model (CAPM) is used to determine the cost of equity capital. There are three major inputs in CAPM equation: risk-free rate, beta of the company stock to a benchmark market, and equity risk premium of the benchmark market. Since I. T. Limited is a Hong Kong based company, therefore the input parameters mentioned above should come from Hong Kong. Risk-free rate Hong Kong government do not issue bill or bond (despite the newly launched ibond, but that is a floating rate bond which its purpose is for general public to protect inflation). Therefore risk-free rate should be the yield on Exchange Fund Bills issued by Hong Kong Monetary Authority. Risk-free rate should be the yield on short-term bill, therefore the yield on one-month bill is selected, which is 0. 05%. Stock beta Hang Seng Index (HSI) is the benchmark index in Hong Kong. 5 years of monthly return stock of I. T. Limited and HSI were obtained. Stock Beta of I. T. to HSI can be calculated by using Slope function of Excel, or regressing both return series. The estimated beta is 1. 399, meaning that the stock of I. T. Limited is more volatile than the index. R2 coefficient is 0. 2261, meaning that about 22. 61% of the variability of the stock returns can be explained by variability in the index. Equity risk premium According to Zhu Zhu (2010), the equity risk premium of Hong Kong is 8. 19%. Applying CAPM: Cost of equity capital = (0. 05 + 1. 399*8. 19)% = 11. 51%. C) Weighted average cost of capital (WACC) The company has not issued any debt. The â€Å"debt† of the company is in the form of bank borrowings, so the effective interest rate of borrowing will be treated as cost of debt. In the latest annual report, the effective interest rate is 1. 4% (from notes 23 of annual report). Total bank borrowings is HKD594. 145M, total equity is HKD1846. 961M, therefore: WACC = 594. 145 / (594. 145 + 1846. 961)*1. 4% + 1846. 961 / (594. 145 + 1846. 961)*11. 51% = 9. 049% References: Hong Kong Monetary Authority, Exchange Fund Bills and Notes fixing (http://www. info. gov. hk/hkma/eng/press/index_efbn. htm) Zhu Zhu (2010) – Estimating the Equity Risk Premium: the Case of Greater China, Jie Zhu, Xiaoneng Zhu (http://citeseerx. ist. psu. edu/viewdoc/download? doi=10. . 1. 175. 7333rep=rep1type=pdf) Appendix A – Selected figures from financial statements Table 1 – Excerpt from summarized consolidated income statement 201120102009200820072006 HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000 Turnover3,834,422 2,995,952 2,733,256 2,021,283 1,530,763 1,314,443 Cost of sales(1,405,482)(1,176,707)(1,121,570)(819,423)(640,442) (540,243) Gross profit2,428,940 1,819,245 1,611,686 1,201,860 890,321 774,200 Other income – incentive income0 13,200 0 0 Other (loss)/gain(7,544)3,791 (11,123)1,900 (4,395)(273) Impariment of goodwill0 (4,217)(59,569)0 Operating expenses(1,958,255)(1,524,760)(1,468,877)(1,002,046)(749,898)(642,553) Operating profit463,141 307,259 72,117 201,714 136,028 131,374 Table 2 – Growth trend of turnover, costs and profit, calculated based on consolidated income statement 20112010200920082007 Increase/Decrease (%) Turnover27. 99%9. 61%35. 22%32. 04%16. 46% Cost of sales19. 44%4. 92%36. 87%27. 95%18. 55% Gross profit33. 51%12. 88%34. 10%34. 99%15. 00% Operating expenses28. 43%3. 80%46. 59%33. 62%16. 71% Operating profit50. 73%326. 06%-64. 25%48. 29%3. 54% Table 3 – Excerpt from summarized and standardized consolidated income statement 01120102009200820072006 Turnover100. 00%100. 00%100. 00%100. 00%100. 00%100. 00% Cost of sales-36. 65%-39. 28%-41. 03%-40. 54%-41. 84%-41. 10% Gross profit63. 35%60. 72%58. 97%59. 46%58. 16%58. 90% Other income – incentive income0. 00%0. 44%0. 00%0. 00%0. 00%0. 00% Other (loss)/gain-0. 20%0. 13%-0. 41%0. 09%-0. 29%-0. 02% Impairment of goodwill0. 00%-0. 14%- 2. 18%0. 00%0. 00%0. 00% Operating expenses-51. 07%-50. 89%-53. 74%-49. 57%-48. 99%-48. 88% Operating profit12. 08%10. 26%2. 64%9. 98%8. 89%9. 99% Table 4 – Excerpt from summarized consolidated balance sheet 20112010200920082007 HK$’000HK$’000HK$’000HK$’000HK$’000 ASSETS Non-current assets Property, furniture and equipment727,022 233,395 229,124 179,850 93,191 Current assets Inventories736,717 394,520 411,145 323,724 196,299 Table 5 – Excerpt from summarized and standardized consolidated balance sheet 20112010200920082007 ASSETS Non-current assets Property, furniture and equipment22. 13%11. 83%13. 44%11. 59%9. 38% Current assets Inventories22. 42%20. 00%24. 12%20. 85%19. 77% Table 6 – Excerpt from summarized consolidated balance sheet 20112010200920082007 LIABILITIES Current liabilities Bank borrowings(214,911)(47,400)(47,400)(10,000)0 Trade and bill payables(360,545)(149,488)(155,993)(121,840)(66,805) Accruals and other payables(349,524)(178,245)(135,677)(140,200)(71,648) Non-current liabilities Bank borrowings(379,234)(35,200)(82,600)0 0 Table 7 – Excerpt from summarized and standardized consolidated balance sheet 20112010200920082007 LIABILITIES Current liabilities Bank borrowings-6. 54%-2. 40%-2. 78%-0. 64%0. 00% Trade and bill payables-10. 97%-7. 58%-9. 15%-7. 85%-6. 73% Accruals and other payables-10. 64%-9. 04%-7. 96%-9. 03%-7. 21% Non-current liabilities Bank borrowings-11. 54%-1. 78%-4. 85%0. 00%0. 00% Table 8 – Excerpt from summarized consolidated balance sheet 20112010200920082007 EQUITY Capital and reserves Share capital119,725 115,504 115,504 115,468 103,950 Reserves1,727,236 1,362,219 1,096,205 1,105,369 722,803 Non-controlling interests(3,749)0 0 0 0 Total equity1,843,212 1,477,723 1,211,709 1,220,837 826,753 Table 9 – Excerpt from summarized consolidated cash flow statements 20112010200920082007 HK$’000HK$’000HK$’000HK$’000HK$’000 Net cash generated from operating activities450,446 366,025 135,589 243,939 91,589 Net cash used in investing activities(508,347)(137,011)(156,242)(110,300)(101,843) Net cash generated from/ used in) financing activities204,453 (47,400)22,668 (76,497)(49,807) Net increase in cash and cash equivalents146,552 181,614 2,015 57,142 (60,061) Appendix B – Ratio formula Performance Profit margins Gross profit margin = Gross Profit / Turnover Operating profit margin = Operating Profit / Turnover Net p rofit margin = Net Profit for the year / turnover Return ratio Return of equity (ROE) = Net Profit for the year / Averageyear, year-1 (Share capital + Reserves) Decomposition of ROE ROA = Net Profit for the year / Averageyear, year-1 (Total Assets) ROE = ROA x Financial Leverage DuPont Decomposition of ROE Asset turnover = Turnover / Averageyear, year-1 (Total Assets) Financial leverage = Averageyear, year-1 (Total Assets) / Averageyear, year-1 (Share capital + Reserves) ROE = Net profit margin x Asset turnover x Financial leverage Extended DuPont Decomposition of ROE Tax burden = Net profit for the year / Profit before income tax Interest burden = Profit before income tax / (Operating Profit + Share of profit of jointly controlled entities) EBIT margin = (Operating Profit + Share of profit of jointly controlled entities) / Turnover ROE = Tax burden x Interest burden x EBIT margin x Asset turnover x Financial leverage Efficiency Fixed asset turnover = Turnover / Averageyear, year-1 (Property, furniture and equipment) Inventory turnover = Turnover / Averageyear, year-1 (Inventories) Days of inventory on hand = 365 / Inventory turnover Receivables turnover = Turnover / Averageyear, year-1 (Trade and other receivables) Days of sales outstanding = 365 / Receivables turnover Payables turnover = Cost of sales / Averageyear, year-1 (Trade and bill payables) Number of days of payable = 365 / Payables turnover Working capital turnover = Turnover / Averageyear, year-1 (Net current assets) Risk Debt-to-common equity ratio = (Short term + Long term bank borrowings) / (Share capital + Reserves) Debt-to-asset ratio = (Short term + Long term bank borrowings) / Total assets Financial leverage = Averageyear, year-1 (Total Assets) / Averageyear, year-1 (Share capital + Reserves) Interest coverage ratio = Operating profit / Interest expense Cash flow coverage ratio = Net increase in cash / Interest expense Liquidity Cash conversion cycle = Days of sales outstanding + Days of inventory on hand – Number of days of payable Current ratio = Current assets / Current liabilities Acid test ratio = (Current assets – Inventories) / Current liabilities Operating cash flow to maturing obligations = Operating cash flow / Current liabilities Appendix C – Calculated ratios 20112010200920082007 Performance Profit margins Gross profit margin63. 35%60. 72%58. 97%59. 46%58. 16% Operating profit margin12. 08%10. 26%2. 64%9. 98%8. 89% Net profit margin10. 12%8. 77%1. 56%8. 46%8. 0% Return ratios ROE23. 35%19. 53%3. 50%16. 70%15. 55% Decompsition of ROE ROA14. 76%14. 29%2. 61%13. 43%13. 05% ROA*Financial Leverage = ROE23. 35%19. 53%3. 50%16. 70%15. 55% DuPont decompistion of ROE Asset turnover1. 46 1. 63 1. 68 1. 59 1. 63 Financial Leverage1. 58 1. 37 1. 34 1. 24 1. 19 Net profit margin*Asset turnover*Financial Leverage = ROE23. 35%19. 53%3. 50%16. 70%15. 55% Extended DuPont decomposition of ROE Tax burden80. 65%83. 29%53. 97%81. 23%82. 63% Interest burden100. 46%100. 86%103. 66%106. 90%112. 12% EBIT Margin12. 49%10. 44%2. 8%9. 74%8. 63% Tax burden*Interest burden*EBIT Margin*Asset turnover*Financial Leverage = ROE23. 35%19. 53%3. 50%16. 70%15. 55% Efficiency Fixed asset turnover7. 98 12. 95 13. 37 14. 81 16. 08 Inventory turnover2. 48 2. 92 3. 05 3. 15 3. 72 Days of inventory on hand146. 89 124. 95 119. 58 115. 82 98. 19 Receivables turnover31. 76 31. 98 51. 12 81. 59 185. 10 Days of sales outstanding11. 49 11. 41 7. 14 4. 47 1. 97 Payables turnover5. 51 7. 70 8. 07 8. 69 11. 14 Number of days of payable66. 23 47. 38 45. 21 42. 01 32. 76 Working capital turnover4. 6 3. 91 4. 24 3. 39 2. 72 Risk Debt-to-common equity ratio0. 32 0. 06 0. 11 0. 01 0. 00 Debt-to-asset ratio0. 18 0. 04 0. 08 0. 01 0. 00 Financial Leverage1. 58 1. 37 1. 34 1. 24 1. 19 Interest coverage ratio159. 70 119. 70 29. 64 646. 52 45342. 67 Cash flow coverage ratio50. 54 70. 75 0. 83 183. 15 (20020. 33) L iquidity Cash conversion cycle92. 15 88. 99 81. 51 78. 28 67. 40 Current ratio1. 85 3. 00 2. 80 2. 93 4. 66 Acid test ratio1. 12 2. 08 1. 70 1. 91 3. 42 Operating cash flow to maturing obligations0. 44 0. 85 0. 36 0. 77 0. 58 How to cite Financial Analysis of I.T Ltd., Essay examples

Low-interest Rates on British Economy

Question: Discuss the impact of low-interest rates on british economy by using microeconomic and macroeconomic theory. Answer: Introduction The interest rates in the British economy are determined by the Central Bank of England. The Central bank of England is a national regulatory body that holds controls on both fiscal and monetary policies in the Britain. The economic system of a country is composed of both microeconomic and macroeconomic subsystems. The microeconomic theory is related to the economic conditions of an individual industry/household/customer. While, the macroeconomic theory is concerned with the state of the economy as a whole in the country. The macroeconomic theory covers major economic issues, such as currency value, inflation rates, GDP, economic development, infrastructure development, unemployment, income level, outputs, and occupation in the nation (Dransfield, 2013). This report discusses and analyses the impact of the interest rates on the British Economy by using the microeconomic and macroeconomic theories. As a result of low-interest rates by the Central Bank of England, the local and foreign investors are making a huge investment in the science, research, education, technology, training, and employment. The low-interest rates lead to fall in the commercial rates in the form of the relatively lower value of the British Pound, low borrowing costs, and low mortgage interest rates. The low-interest rates will create benefits to both customers and investors in the form of more consumption and high investments. The low-interest rates will result in a sharp rise in the purchasing power of the customers (Beer, 2013). Impact of Low-interest rates on British Economy by Using Microeconomic and Macroeconomic Theory Interest rates are the rates of interests paid by the borrowers or debtors for using the money borrowed from the lenders or commercial banks. It is a percentage of the principal amount paid on the payment of loans or credits for a certain period of time. The interest rates have affected the British economy to the great extent. It has contributed to the national economic development and growth that has allowed the foreign investors to invest hugely by running their business operations in the country (Golin and Delhaise, 2013). The Central Bank of England has continued with its economic policy with the low-interest rates over the last seven years to promote the investment, consumption, employment, and economic development. There are several reasons for keeping the low-interest rates by the Central Bank of England. Firstly, It will lead to better infrastructure development, high economies of scale, high purchasing power, more employment, and high demands. It will create a lot of employment opportunities for both fresh and experienced employees. Secondly, as a result of low interests by the Central Bank of England, the costs of borrowings have decreased that encourages the people to make more investments and savings because of low principal payment on credits and loans. The low-interest rates create more value to the national currency (Pound) that assists in the national economic development and high GDP because of lower funds paid by the local industries for the import of the raw material, goods, and service s from other countries (Giudice, Kuenzel, and Springbett, 2012). It also attracts the foreign investors to make huge investments in the business because of the favorable economic policies. The low-interest rates have decreased the prices of the government debt interest payments that will lead to fall in the tax rates in the future which will keep all investors or industrial sectors satisfied. The low-interest rates have reduced the prices of the goods and services that exceeds the demands than supply. The low-interest rates have also encouraged the increased industrial activity and growing demand for the goods and services. It has also promoted the import and export of the goods and services with other countries. As a result of the low-interest rates, the local companies will have to pay the lower costs for purchasing the raw materials, goods, and services from other countries. Similarly, it will also assist in the export of the goods and services to the foreign customers at low costs. The low-interest rates will create more earnings to the industrial sectors by promoting the industrial activity. The low-interest rates will increase the industrial productivity by reduc ing the cost of production because the low-interest rates and inflation will keep the prices of oil lower that will lead to low transportation cost (Piana, 2002). The lower interest rates will also provide the industries a framework to recruit the highly talented and experienced workforce at lower rates. The microeconomic theory studies the economic behavior of an individual firm, household, industry or consumer. It covers several issues, such as demand, supply, cost, production, production efficiency, market structures, pricing, distribution, profit maximization and resource strength of an individual firm. According to a microeconomic theory which is known asTime Preference theory of Interest, the rate of time preference determines the rate of interests and the interest rates determine the consumer behaviors. This theory explains the concept of interest rates through the demand for accelerated satisfaction (Simon, 2015). This theory attempts to explain the interest rates with the equation of comparing the perceived value of expected future returns with the interest rates on the savings by the customers. This theory explains, if the interest rates increase, the demand pattern for the goods and services from the customers decreases because of the additional amount to compensate the consumers for foregoing current consumption. In contrary to this, if interest rates reduce, the consumerism or customers demand increase. The time preference amount of money is expressed as a proportion of consumers current income that will compensate them for the forgoing consumption. The interest rates decide the consumers buying behaviors and consumption (Cable, 2010). According to this theory, if the future income is expected to be higher than current income of the customers, then there will be high time rate of preferences that will induce the customers more savings than spending. On the other hand, the macroeconomic theory studies the economic behaviors at a whole including all industries, customers, and households. It covers unemployment, demand and supply, production, cost, profits, labors, pricing, and distribution of all industries and customers in the aggregate. The Keynesian theory explains the macroeconomic system. According to Keynesian theory, the interest rates are determined by the demand and supply pattern. According to this theory, the high-interest rates will lead to lower the profitability of investment. There is an inverse relationship between the investment and the rate of interest. The low-interest rates will encourage the firms to borrow and invest hugely. The planned investment spending increases with a fall in the rates of interest. Savings also depend on the interest rates as savings are directly related to the interest rates. The people make more savings with a rise in the interest rates (Hall and Atkinson, 2016). The interest rates als o have an inverse relationship with the income of the people. The higher interest rates, lower the income of the people. So, Keynesian Model determines the impact of interest rates on the income, saving, investment and demand and supply pattern. It is expected from the Central Bank of England to keep the interest rates static or lower in the future in order to promote the entrepreneurship and industrial activity. The low-interest rates through the cash-flow channel will encourage the higher spendings in aggregate. The reduction in the interest rates will make savings less attractive and borrowings more attractive. If the Central bank of England continues its monetary policy with the lower interest rates, the growing demand pattern for the gross domestic products will be increased. The central Bank of England is expected to keep the interest rates lower to encourage the economic growth, full employment, and price stability (Hodder Education, 2015). It will reduce the unemployment rates by creating a lot of employment opportunities for the local and outside employees. As a result of the low-interest rates, the international trade will be promoted and enhanced because of exchange of the goods and services in the great quantitie s between the countries. It will also enhance the customer spending on the goods and services. It is expected that the Central Bank of England will not increase the interest rates untill 2018 that will be a good news for both investors and customers. The low-interest rates will raise the supply of the money and demand for the goods. It is expected from the Central bank of England to keep the interest rates lower or static for the next 4-5 years to boost the international trade and push the global demands higher. The low-interest rates will boost the prices of the assets as well as high shares prices and housing. The high share prices will maximize the wealth as well as living standards of the people. Conclusion In the conclusive statement, it is identified that both microeconomic and macroeconomic theories provided a detailed analysis of the impact of the low-interest rates on the British Economy. The Central Bank of England will be expected to continue its monetary policy with the low-interest rates for the national economic development. The low-interest rates will create a lot of new business opportunities for the local and foreign investors. The low-interest rates will also create more value to the national currency of the Britain. The Low rates of interest will attract the investors to invest hugely in the research, development, technology, training, and education so that new employment opportunities could be created. The low-interest rates will also promote the consumerism by increasing the purchasing power of the customers. So, the low-interest rates will continue to be the national economy stronger in the future and will add value to the national currency in comparison to other curre ncies. References Beer, M. (2013) Early British Economics from the XIIIth to the middle of the XVIIIth century. UK: Routledge. Cable, V. (2010) The Storm: The World Economic Crisis and What It Means. Britain: Atlantic Books Ltd. Dransfield, R. (2013) Business Economics. UK: Routledge. Giudice, G., Kuenzel, R., and Springbett, T. (2012) The UK Economy: The Crisis in Perspective. Great Britain: Routledge. Golin, J., and Delhaise, P. (2013) The Bank Credit Analysis Handbook: A Guide for Analysts, Bankers and Investors. USA: John Wiley Sons. Hall, S. and Atkinson, F. (2016) Oil and the British Economy. UK: Routledge. Hodder Education (2015) Edexcel Economics A Student Guide: Theme 2 The UK economy - performance and policies. UK: Hachette Publication. Piana, V. (2002) Interest Rates: A Key Concept in Economics [Online]. Available at: www.economicswebinstitute.org/glossary/interest.htm. (Accessed: 26 March 2016). Simon, J. (2015) Low Interest Rates and Environmental Risks [Online]. Available at: https://www.rba.gov.au/speeches/2015/sp-so-2015-10-08.html. (Accessed: 26 March 2016).