Assess the Impact Malcolm X Had on the Civil Rights Movement free essay sample

Malcolm X, a social liberties dissident, significantly affected the Civil Rights Movement in the United States. Malcolm X tested traditionalist Americans by the Civil Rights Movement uncovering oppressive practices which prompted noteworthy changes in what the lawful framework proclaimed unlawful. In spite of the fact that Malcolm X had an alternate way to deal with Martin Luther and delivered various outcomes, their end point was the equivalent. His effect socially, strategically and lawfully is as yet perceived today and he is honored for his steady battle for fairness for African Americans. Malcolm X’s lamentable youth occasions, assurance affected his intentions in social change. Socially, Malcolm X’s perspectives and approaches were diverse to the next social equality activists of that time. Before Malcolm X, most blacks needed nothing to do with Africa. However, he instructed them that â€Å"You cannot abhor your source and not wind up loathing yourself; you cannot detest Africa and not despise yourself. We will compose a custom article test on Evaluate the Impact Malcolm X Had on the Civil Rights Movement or on the other hand any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page † The reaction from this was sure and it raised African American social awareness. In spite of this, he was thrown in the negative light and was viewed as an opposer of Martin Luther King Jr. Ruler and different activists would not show up on a similar stage as him. The Nation of Islam just had vicious perspectives, and subsequently, Malcolm X dismissed the peaceful perspectives on King and upheld for a brutal methodology. â€Å"I don’t even call it viciousness when it’s self protection; I call it knowledge. † says Malcolm X. The effect of this created two ways to deal with Civil Rights. One gathering following Kings sees and the other, a minority following Malcolm X’s sees. It was this gathering which disturbed for change through vicious methods. The white network considered all to be as savage which adversely affected on Kings cause. This likewise partitioned the dark network, at a time were solidarity was required. Further to this, Malcolm X upheld for both the foundation of a different dark network, as opposed to joining, and the utilization of viciousness for self protection. An additional effect on this was it elevated the contention of Malcolm X and his methodology, yet in addition hampered any endeavor of digestion. White society fought back, both in the city and the media, affecting on social orders sees on Malcolm X. At last, Malcolm X was pushing for a positive change, however it was seen by the whites, and a few blacks, as negative. Malcolm X’s social perspectives had a huge effect strategically and lawfully. Malcolm X and different activists all needed a similar final product, however the manner in which they pushed for change, was unique. Malcolm X criticized Kings â€Å"I have a dream† discourse saying, â€Å"While King was having a fantasy, all of us Negroes are having a nightmare†. There was nothing unobtrusive about Malcolm X’s message and he was not terrified of imparting his perspectives and insights to all. This methodology pushed all parts of society to address him and themselves. Legitimately, Malcolm X tested the social liberties development and uncovered unfair practices. Not exclusively did Malcolm X sway the Civil Rights Movement by assisting with executing laws, he likewise made America see how existing laws were routinely disregarded. Malcolm X’s political push to guarantee the training of dark Americans obviously affected on the two blacks and whites, rousing them to get instruction. Malcolm X supported both strategically and legitimately for schools to be integrated, as he states â€Å"Education is the visa to the future, for tomorrow has a place with the individuals who get ready for it today†. Because of his effects on the legitimate framework, the US Supreme Court in 1954, pronounced integration in government funded schools illegal. The integration of state funded schools largy affected the African American culture and through this, the commitments of Malcolm X were seen and he picked up believability. After his division from the Nation of Islam in 1964, he announced his freedom and built up his social and political dark patriot reasoning in a discourse named, â€Å"The Ballot or the Bullet. † His break from the NOI was a significant defining moment as he was allowed to talk autonomously and he urged blacks to practice their protected option to cast a ballot. Further to this, Malcolm X shaped the Organization of Afro-American Unity. The motivation behind the OAAU was to reconnect Africans Americans with their African legacy, build up monetary autonomy, and advance African American self-assurance. It affected on the individuals from the OAAU as it gave them a spot to represent themselves and to battle for balance. In spite of the fact that the OAAU self-destructed, it turned into the motivation for many dark force bunches that developed during the following decade. Despite the fact that Malcolm X didn't legitimately start any basic changes, he scrutinized the law, made open discussion and conversation among the dark network and government officials, uncovered biased acts and pushed for change. He roused American dark youth, yet in addition other distraught gatherings around the globe, for example, the 1965 Freedom Rides in Australia. Be that as it may, as a result of his effect on the Civil Rights Movement, Malcolm X was undermined because of his extreme thoughts and on February 21st, 1965, he was killed. His death brought forth the Black Panther Party, who took Malcolm X’s message of self protection for blacks and made an interpretation of it vigorously. They motivated youth and blacks universally to battle bigotry and police mercilessness. Malcolm X has been dead for a long time, yet his impact in the African American people group is a lot more noteworthy today than during his lifetime. He was an internationalist and progressive, who took a gutsy represent every single African American for picking up balance. He upset for change and had a critical effect in America socially, strategically and pushed for changes in the law. Malcolm X’s sway on the social liberties development can not be denied and his addresses and his message have stood the trial of time. ?

Voluntourism Research Paper Example | Topics and Well Written Essays - 2250 words

Voluntourism - Research Paper Example Voluntourism originates from a craving to contribute something, anyway little, to the prosperity of individuals who are in any case distraught. It gives the individuals who engage in it the chance to visit new nations, experience new conditions, and the greater part of all, to find out about the way of life of those individuals among whom they will be living. Voluntourism gives customary individuals the opportunity to visit places, which they would somehow or another not ordinarily visit, for example, the ghettos in less created nations. A few sorts of voluntourism include individuals visiting places to examine their condition, or having the option to direct other logical examinations. The individuals who take an interest in voluntourism ventures need to give a charge whose reason for existing is to cover the costs during their movements in various pieces of the world. Besides, the members are required to partake in ventures inside the nations, which they visit, and this is generally founded on their area and their own advantages. The individuals who initially went for voluntourism would in general have an immediate association with the causes wherein they were going to chip in. The associations that encouraged their movement believed the span of their movements to be of the present moment, chipping in ventures in the nations, which they were visiting. ... These regularly allowed individuals the chance to add to these ventures for brief periods before returning to their nations of origin. The inceptions of what came to be voluntourism can be followed back to the United States Peace Corps, which made a way for volunteers (voluntourists) to travel everywhere throughout the world (La Prensa San Diego, 2011). Afterward, the need to travel, while contributing something to the less advantaged networks on the planet, turned out to be gigantically famous among undergrads; this prompted the improvement of trade programs, which empowered understudies, to visit to and concentrate in the nations of their inclination. Not exclusively did these understudies become acquainted with increasingly about these nations and have a ball, some significantly volunteer in nearby undertakings (Wagner, 2009). Voluntourism likewise came to influence the logical field since some logical association considered it to be a path through which they could get the open in spired by science. These associations encouraged the bringing on the whole of researchers and unpaid partners in different areas around the globe, which had logical activities. This filled a double need as it gave free work to researchers in the field, that is, the volunteers while it was likewise a wellspring of extra financing to the undertakings, through the charges paid by the volunteers. Voluntourism got pace during the 1990s when organizations in the movement business created implies through which people could take some time off, and keeping in mind that on it, likewise volunteer in different undertakings. These organizations focused on those individuals who needed to travel and had no related knowledge with causes. The items gave by the movement business pulled in an enormous number of youngsters, who will in general be the most bold of all age gatherings (Hansen, 2009).

Obsessive-Compulsive Disorder and Memory Loss

Obsessive-Compulsive Disorder and Memory Loss OCD Print Obsessive-Compulsive Disorder and Memory Loss By Owen Kelly, PhD Medically reviewed by Medically reviewed by Steven Gans, MD on March 14, 2017 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on October 10, 2019 Getty Images Credit: PhotoAlto/Ale Ventura More in OCD Causes Symptoms and Diagnosis Treatment Types Living With OCD Related Conditions If you have obsessive-compulsive disorder  (OCD), you may have compulsions in which you repeat behaviors over and over again. For instance, you might have to repeatedly check to make sure that the front door is locked or that the stove is turned off. Or, you might have to repeat a ritual such as washing your hands or counting up to a certain number. Because of the repetitive nature of many OCD symptoms, there has been some suggestion that people with OCD may experience some sort of problem with memory and simply forget that they’ve already carried out their compulsion. Does Obsessive-Compulsive Disorder Cause Memory Impairment? Before talking about OCD and memory it may be useful to remember that there is more than one kind of memory. For instance, memories can be stored both as words (verbal memory) and as images or pictures (non-verbal memory). In general, there is no scientific evidence to suggest that people with OCD have any problems with remembering information that has been stored verbally or in the form of words. In contrast, it has been consistently found that people with OCD show deficits in non-verbal or visual memory. For example, in comparison to people without OCD, people with OCD often have trouble accurately recalling and drawing a complex geometric shape that they have just been shown. Likewise, OCD has been linked to deficits in spatial memory such as remembering places on a map or the location of a room within a building. People with OCD are more likely to have difficulties with non-verbal or visual memory. They dont have any unusual problems with memories stored verbally or in word form. Research suggests that these deficits in non-verbal memory are probably caused by the way information is encoded in the brain. Specifically, in OCD, certain information seems to be stored and organized in a way that can make it difficult to access when it needs to be recalled. Metamemory and OCD Metamemory refers to a person’s knowledge or awareness about their own memory and how confident they are in their own memory performance. Not surprisingly, people with OCD, particularly those who have symptoms involving checking, have less confidence in their memory than those without OCD. Also, the worse OCD symptoms are, the worse this confidence in memory seems to be. Interestingly, people’s level of confidence does not seem to be related to their actual performance on memory tasks. Implications for Treatment So, what does this all mean for our understanding and treatment of OCD? Currently, it is unclear whether the changes in memory, particularly non-verbal abilities and metamemory seen in OCD, are a cause or effect of the obsessions and compulsions that go along with OCD. It is also not clear whether such changes are specific to OCD or whether they may apply to all anxiety disorders. As such, it is difficult to know whether targeting memory problems would be of any value in the treatment of OCD symptoms. Clearly, much more research is needed in this area. A Word From Verywell It is well established that major depression can cause  problems with memory and concentration and it is possible that the memory problems seen in OCD are actually related to the overlap of symptoms between depression and OCD, which often occur together. Thus far, most studies looking at memory and OCD have not done a good job controlling for the effects of depression on memory.

Essay on Ragtime and Blues Influence on Jazz - 1377 Words

Ara Cho Ethno 50A 803-672-412 October 14, 2011 Seeing Ragtime and Blues as Parents of Jazz Jazz is a music genre that has complex characteristics and history of development and thus many musicians and scholars face troubles in defining what jazz is. In general, jazz is believed to have born in New Orleans. Jazz developed for the pleasure of the social dancers. According to the â€Å"Understanding Jazz: What Is Jazz?† of John F. Kennedy center for the Performing Arts, Jazz was created mainly by Afro-Americans, and had elements of European and Afro-American culture. Also, it emphasizes few elements of Jazz, which are swing-feel, syncopation, and improvisation. These different culture and elements of jazz may be explained by how jazz†¦show more content†¦Thus the similarity between ragtime and blues is significant but there are numerous differences between the two music styles. First, their origin was different. Even though they both had African influence as mentioned, ragtime was more strongly influenced by European music style, and blues was heavily African music style. According to Durk Sutro in his book Jazz for Dummies, â€Å"Ragtime was European-influenced, in the sense that it was composed, not improvised, and featured carefully crafted melodies and harmonies†¦ragtime could sound concisely European† (ch.5). Although European-influenced, there is some African influence such as rhythm and African banjo music as mentioned during the lecture. Ragtime rhythm was â€Å"the rhythms of the black dancers who used their heels to make drum sounds, or to that of the black church singers who could vary the rhythms of a Christian hymn so much that a white Christian could not even recognize it†(Tirro, pp.37). On the other hand, Blues were basically from work songs of African Americans slaves at the time. â€Å"It is a native American music, the product of the black man in this country, or, to put it more exactly the way I have come to think about it, blues could not exist if the African captives had not become American captives†(pp.17), said Jones and Baraka. In Jazz – A History, Frank Tirro wisely analyzes and explains the relationship between the unique background andShow MoreRelatedRagtime And Blues : The History And Their Influence On Jazz1581 Words   |  7 PagesRagtime and Blues: The History and Their Influence on Jazz In the city of New Orleans, from parades to clubs and from weddings to funerals, one element usually remained constant throughout all these events: the music that permeated the air. At most of these occasions, a band often performed as entertainment, providing many opportunities for musicians in the area to work. By the early 20th century, due to various factors such as mix of ethnicities and cultures with syncopated musical styles influencedRead MoreThe Ragtime And The Blues1184 Words   |  5 PagesBoth ragtime and the blues were essential and influential in their contributions to the development of jazz. Together, they served as the primary predecessors to the later, more complicated genre. Key elements from each brand are incorporated and mixed to create jazz. Without the creative geniuses of ragtime such as Scott Jopin and James Reese Europe and Blues propagators W.C. Hady and Robert Johnson, the distinctive genre of jazz would not have emerged. Ragtime and blues are both uniq ue in theirRead MoreMusic, Blues And Ragtime1337 Words   |  6 Pagesâ€Å"Jazz is the first true art form to come from the soil of America†, Winton Marsalis made this claim in the film Jazz by Ken Burns. Jazz would be born here in America after the fall of slavery. The interactions between previously enslaved peoples and the rest of society gave the breeding ground for a mixture of cultures and music styles. The city which was most clearly known for the mixing of cultures after the Civil war was New Orleans. In New Orleans the primary cultures and ethnicities seen included:Read More Ragtime Essay examples850 Words   |  4 Pages Ragtime was a very influential part of the development of jazz. Ragtime became very popular in the late 1800’s. Ragtime’s distinct style set it apart from the other genres. Syncopation is what defines this art form. This is when the loud accents fall in between the beats. Anything that is syncopated is basically ragtime. One of the most important ragtime composers was Scott Joplin. Like all great artists, Joplin did not restrict himself to this favored art form. Both before the advent of ragtimeRead MoreThe Ragtime Vs. The Blues1616 Words   |  7 Pages ¬Ragtime vs. The Blues In the city of New Orleans emerged one of the most influential music genres in U.S. history. At the time, New Orleans was known for being a melting pot of people or rather, a region where people from all over the world came together in one place. This city served as a key seaport in the U.S. allowing for goods to be imported and exported. The purpose of this city was not only strategic to the growth of the country, but also, the atmosphere allowed for the incredible mixingRead MoreEssay on Jazz Ken Burns1444 Words   |  6 PagesJazz by Ken Burns â€Å"JAZZ† is a documentary by Ken Burns released 2001 that focuses on the creation and development of jazz, America’s â€Å"greatest cultural achievement.† The first episodes entitled, â€Å"Gumbo, Beginnings to 1917† and â€Å"The Gift (1917-1924), explain the early growth of jazz as it originates in New Orleans and its expands to Chicago and New York during the Jazz Age. In assessing the first two episodes of Ken Burns 2001 documentary, JAZZ, this essay will explore the history of jazz,Read MoreJazz From The United States999 Words   |  4 PagesJazz originated from the United States in the early part of the 20th century. From Ragtime and blues to Big Bean and Bebop, jazz has been a part of a proud African American tradition for over 100 years. The history of jazz has its roots firmly planted in the American cities of New Orleans, Chicago, and New York City. New Orleans jazz was first recorded in Chicago and New York, not in New Orleans. The fir st recording was the Original Dixieland Jazz Band. Jazz is often referred to as â€Å"American’sRead MoreThe Music Of Jazz Music1353 Words   |  6 PagesTo define jazz music, one must scroll through the lexicon of words associated with the sound of jazz to come up with a description of the art form. Words such as smooth, cool, nice, swinging, and jazzy describe the art form. However, because of the vague definition of its sound, there is no one true definition of the art form. Jazz is an art form that cannot be restrained. Jazz is like watching Michael Jordan go up for an ordinary slam dunk, but in midair, he changes his mind to do something completelyRead MoreA Brief History of Piano Greats and Jazz Essay1426 Words   |  6 PagesBrief History of Piano Greats and Jazz The piano has been a pivotal instrument throughout the development of jazz music. Starting with ragtime, which developed out of classical music, all the way to modern jazz the piano has been a foundational instrument upon which many styles have been built. This is a result of the versatility of the instrument, as it has the ability to play accompaniment, rhythm, and solo improvisation simultaneously. Throughout the course of jazz history many musicians have utilizedRead MoreAnalysis Of The Structure Ives s Country Band March 1394 Words   |  6 Pages 3.  Ragtime, blues and jazz were three early twentieth century musical forms that were original to America. Jazz is a music genre created mainly by African Americans, that drew African traditions and Western popular and art music. Jazz music centered around African American ceremonial and work songs. Scott Joplin is a well known composer for ragtime and also one of the first black Americans to gain important as a composer. Although ragtime itself did not branch to different styles as Jazz did, ragtime

Are there Frank Lloyd Wright Homes in New Hampshire

You dont have to go to Chicago to see the architecture of Frank Lloyd Wright. Plenty of people in the Northeast have works by Americas most famous architect right in their backyard. The Zimmerman House Guided tours of this classic Usonian style house by Frank Lloyd Wright depart by shuttle van from the Currier Museum of Art. Tours are limited to 12 people, so youll need to make reservations in advance. The house is closed during the winter months. If you miss the tour, you can still drive by and see the outside of the Zimmerman House. Simply follow Union Street north from downtown Manchester. The Zimmerman House is located at 223 Heather Street, which is on the corner of Union and Heather streets. Learn more about the Zimmerman HouseLearn more about Zimmerman House tours The Kalil House The Toufic H. Kalil house by Frank Lloyd Wright is privately owned. No tours are available. If you choose to drive by, please be mindful of the privacy of the current residents. The Kalil house is located on 117 Heather Street, just a stroll from the Zimmerman house. If you take the Zimmerman house shuttle bus tour, your guide will point out the Kalil house as you pass. Where To Stay The Ash Street Inn on 118 Ash Street is perhaps the most comfortable and the most interesting lodging in Manchester, New Hampshire. The owners removed the old asbestos shingle siding to restore the elegant Queen Anne style house. During your stay, take special note of the stained glass windows and elaborate fireplace mantels. Be sure to ask about History/Architecture Weekend Getaway packages when you make your reservation. Learn more about the Ash Street Inn More New Hampshire Attractions The Manor on Golden PondNew Hampshire Travel GuideNew Hampshire Official Site

Self Awareness and Opportunity Awareness Free Essays

I have undertaken 5 classes to evaluate my strengths and weaknesses on various topics associated with employability and careers. The classes use a variety of tests and other methods to analyse me in order to produce reports on each topic. This report will summarise these topics and my conclusions from the classes, as well as reflecting on the exercises and how I found the results and their consequences. We will write a custom essay sample on Self Awareness and Opportunity Awareness or any similar topic only for you Order Now Employability Skills Employability skills are one of the most important skills a person can learn. It is one thing having the necessary qualifications for a job, but if you don’t have the employability skills required, you will not succeed. From Class 1 on â€Å"Employability Strengths and Weaknesses† I found out that my main strengths were my organisation and work skills. For organisation, the class discovered that my main strengths were setting and reaching targets, prioritising tasks and meeting deadlines. These points are all related and vital at University and also at a job in â€Å"the real world†. Without being able to set targets and accomplish them, nothing would ever get done and in life targets need to be set and reached in order to progress. They can be used to monitor you and see improvement, which is a large benefit. My main weakness in my organisation category is my motivation. Sometimes I can’t get motivated into doing a piece of work, but once I start and get flowing, I do it till it’s finished. Its one of the areas that I have improved on, but there is still room to develop. For work skills, the class confirmed that I am good at using and applying financial information which I gained and developed at college studying maths and business studies which could open up different types of careers, associated with computing also. My weakness in work is teamwork, but only with something academical. I have no problems team working in a sport or socially, but would often prefer to complete a piece of work individually rather than in a group of people as I get more control in the content. The skill that is my main weakness is my adaptability. My strength in this area is the ability to learn from experiences and develop new strategies for tasks that I experience. My weaknesses in this skill are finding creative solutions to problems and I think this is because overall I am not a particularly creative person. Another weakness in this area is that I am not resilient to change and the exercise states that most of us have this as a weakness but its something that is always going to happen and we need to accept change and thrive upon it. Another possible weakness in this area is transferring skills from one situation to another. The test results for this class state that people often have many skills that they have attained from every day life that they do not realise and these skills can be transferred into University or the work place. To improve in this area I have completed the exercises that are contained within this class and this will help me to identify improvements that can be made so that I can turn weaknesses into strengths to maximise my chances of getting a successful career. For this class, I found that I had done most of the activities before gaining similar results so I didn’t actually learn much about myself, rather confirming the thoughts that I previously had. The most beneficial part of this class was getting a summary of each individual area of employability that related to me. It showed a graph as an overview of the skills and then described them in detail, which was really helpful as it stated what I am good at and what needs further work on. Occupational Interests Class 2’s aim was to help me identify the nature of occupation that was suitable for me and to learn about why it is important to recognise career preferences for choosing an occupation. The test that I completed in this section didn’t tell me anything that I didn’t already know. The main point that the test found out was that I am not very artistic, which I have known for a long time and anyone else that knows me will know this also. For the other 5 areas, it found that my interests were divided across the board. Apparently this will lead to a â€Å"conflict† in terms of career choice as â€Å"it may prove difficult to find a career area that satisfies all of my interests†. It implied that my answers may have been incorrect, but I feel this is because the questions were too general and could only be answered with a â€Å"yes† or a â€Å"no†. As this was the case, I answered â€Å"yes† for most questions as I felt that it was either correct or partially so. Due to the format of the questions, I felt the summary of answers was irrelevant and conclusions could not be formed from the questions asked. An improvement to the questions could have been to answer on a scale of 1 to 10 and make conclusions based on the scale; this would have given a more in-depth summary on career interests which would have made it more relevant to each person, rather than general answers. Learning Style Team Working The aim of class 3 was to identify my role when working in a team and my strengths and weaknesses of team working and my learning style when working alone and in a team. Although I participated in the Belbin method of identifying team roles before, it was in the first week that I was at University and my role has changed over this time as I have became more involved in groups and grown as a person. After completing the test as part of the class, the team role that best suited me was â€Å"Team Worker†. The main points of this role are that I support members in their strengths and improve communications between members and help create team spirit within the group. Qualities in this role contain humility, flexibility, popularity and good listening skills, all of which I believe to have. Weaknesses are a lack of decisiveness and toughness and distaste for friction. When I originally did the Belbin test, I didn’t rate it highly and didn’t pay much attention to the ro le it gave me. After completing it this time, I agree with the entire summary and believe the method to be informative and helpful in deciding roles for members within a group in order to get the best out of the team members. Employment Opportunities The main employment opportunity that I have in the near future is the year long industrial placement that takes place after my current year. The industrial placement will refine my employability skills in the workplace and also teach me new skills that will increase my knowledge and level of work ready for the final year and progressing from there onwards. Experience in industry for a year will also increase my job prospects once I leave University, as many jobs now require that people have at least 1 year’s experience, but to get experience you need a job. It’s a cycle that is hard to enter but the industrial placement joins the cycle and gets that valuable experience required. My current employment is working in a high street electrical store. Working with them has improved my communication and team working skills as I work as part of a small team which requires constant communication for us to function efficiently. As part of a team, we get assigned roles and each role in the team is vital for the running of the store. I took this job mainly to fund myself at University but it has taught me skills that I can transfer into my work and for future jobs and career opportunities. Career Decisions The aim of class 4 was to identify my own decision making style and find out and use two methods of improving the quality of my decision making. Also this class helped to prepare to take appropriate action to progress to career plans. I am a mixture of decision making types, including rational, intuitive and â€Å"please everyone†. I discovered that I tend to collect information about the possibilities and weigh up the pros and cons of each outcome to base my decision upon. Other times, I tend to know intuitively which decision to make. I can often not explain or justify these reasons for choosing a particular decision, but I’m drawn towards it. I also like to please as many people as I can when making a decision. If I have no preference on a decision, or would be pleased with a number of outcomes, I would choose the most popular vote to prevent conflict and make the most people happy. The test on Career Decision Making stated that I have a good idea of where I am heading in career terms and that I may have a good record of successful decisions and a strong idea of what career I wish to enter. I agree with this summary of my career progress but was unsure that the test would come to this justification. In the test, there were only 3 options per question and only 12 questions in total so I was sceptical whether it would come to an accurate decision given the lack of depth of the questions, but seeing as though it proved accurate for me, I cannot fault the process too much. Conclusion These classes have enhanced my knowledge of myself and the current skills that I obtain, and also the skills that I need further development on. Some of the classes have exercises that I have experienced before and weren’t particularly useful as they told me nothing new, but they confirmed the results that previous tests had found. Other classes and exercises were new that I hadn’t done before showed me my learning style which I hadn’t previously known and I found out which team role I belong in, which has changed from the last time I did the exercise 14 months ago. One improvement that could have been made to the course was if there were practical classes, roughly once every 2 weeks that we could attend and get a better idea of what was happening and receive any help if we required it and a physical class would have been easier to keep up to date with the certificate than it all being online. Overall I think that these classes, and exercises within then, have be en worthwhile as I have learnt which skills I posses and am good at, and also which skills I need to work on to improve my employability. 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Ellectoral College Essay Research Paper The Electoral free essay sample

Ellectoral College Essay, Research Paper The Electoral College has been used to elect the President since the beginnings of the United States. In the two hundred some uneven old ages of history, there have been cases when the college did non work. There have been many thoughts that have floated around about repairing the job with the electorate. Then once more, there are many assets to utilizing the Electoral College system. In an election, the President is elected non by the popular ballot, but by the ballots of the electorates. The electorates are representative of each province. There are a figure of electorates per province equal to the sum of individuals in both the House of Representatives, and the Senate. The District of Columbia besides has three ballots to project. One of the major drawbacks to the Electoral College is the fact that it can at times be really undemocratic. If a campaigner wins the ballots in certain provinces, and gets all their electoral ballots, it is possible to win the Presidency, without acquir ing the most popular ballot. We will write a custom essay sample on Ellectoral College Essay Research Paper The Electoral or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the 1800? s, there were three cases where the Electoral College disagreed with the popular ballot. On the same note, in 1968, the race would hold ended up in Congress shy of a few ballots for George Wallace. Again in 1976, the electoral ballot gave Gerald Ford the triumph even though Jimmy Carter one the most popular support. How would you repair this job, there is no easy reply to this inquiry. One manner to work out this is send per centums of electoral ballots, or disregard the winner-take all system. For case, say that in Florida, who has 25 ballots, 80 per centum of the popular ballot supports the democratic nomination, whereas the other 20 percent went for the republican nomination. Then 20 electoral votes would go to the democrat, and 5 would go to the republican. Another way to solve this problem would be to base electoral votes solely on the population, separate the nation into regions with approximately the same population, and give them each votes. In this, there would be no actual state borders, just a set number of voting regions. A third and final way to solve the problem would be to do away with the system entirely, and let the popular vote be the sole decision making factor. This would be the easiest and quickest way to solve the Electoral College problem. The electoral system is not all bad. There are several pluses to its use. One of those plusses is the declaration of a clear winner. Whichever candidate wins the most votes, or the first to get 270 votes, wins. Also with the current winner-take all policy, it makes the smaller states votes more important and less significant to the c andidates. There is also the ability to tell that a clear winner may or may not have a mandate. A mandate states that the public endorses a candidate?s programs and that the candidate should put them into affect when he finally reaches office. The Electoral College is the system of the United States, set up even before the first actual political parties, that is used to elect the President and the Vice President. The Electoral College is not perfect by any means. There have been some instances when a President has been elected even though he wasn?t the popular choice, but the plusses given to the election process by having it are worth the few mistakes.

Analysis of Capital Structure and Debt Financing of TUI

Introduction The concept of an optimal capital structure for business firms remains a cornerstone of financial economics theory since the seminal works of Modigliani and Miller (1958; 1963) that focused on tax benefits and other costs of debt. According to Vasiliou and Daskalakis (2006), the capital structure of the firm can be a combination of the long-term sources of funds employed by the firm.Advertising We will write a custom essay sample on Analysis of Capital Structure and Debt Financing of TUI specifically for you for only $16.05 $11/page Learn More A firm is said to be less leveraged when it has not included any debts in its capital structure. On the other hand, with a high level of debts the firm is highly leveraged. In a leveraged firm, the value of the firm is equivalent to the value of the firm reduced by the value of the debt (Brealey et al, 2003; Song 2005). Large corporations arrive at a combination of owned and borrowed funds to ensure ma ximum benefits from the capital structure. This paper analyzes the financing of the capital structure of TUI AG, a German based company operating in the tourism industry. Overview of TUI AG Established in 1997, TUI is the industry leader in the tourism industry of Europe. The Group operates in holiday destinations in more than 180 countries worldwide. The company serves nearly 30 million customers spread in 27 source markets globally. TUI Group is in the business of operating around 240 hotels in different destinations, and most of them are four or five-starred hotels. TUI travel, hotels and resorts, and cruise lines are the three business segments, which the company is operating. TUI travel division undertakes the businesses of tour operating, online sales, high street outlets and air travels. The company owned Hapag Lloyd AG, container shipping division and TUI sold this division in March 2009. After the sale of container shipping division, the business of the company has become c ompletely tourism-oriented. The following sections outline the capital structure and debt financing of TUI AG. Capital Structure of TUI AG TUI is a highly leveraged company with more debt financing. The capital stock of the company as at September 30, 2010 consisted of 251,548,525 ordinary shares having a value of EUR 643,073,592.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company’s external debt consists mainly of convertible bonds. During the financial year 2009-2010, the total financial liabilities of the company increased by EUR 797 million and as at the end of September 30, 2010 the total liabilities stood at EUR 4,512 million. Table 1 in Appendix shows the breakup of the non-current liabilities of TUI AG. The total financial liabilities for 2008-09 was EUR 3,275 million and the increase in the liabilities for the year 2009-10 amounted to 37.8% over the previous yearâ⠂¬â„¢s liabilities. The total equity of the company as at the end of the financial year 2009-10 was EUR 2,434.20 (for 2008-09 = EUR 2,240.8). Table 2 in the Appendix shows the different components of equity of TUI AG. The total equity for 2009-10 has increased by 8.6% over the previous year. While the subscribed capital has not changed significantly, the reserves have increased by 14.3% over the previous year. The equity as a percentage of total assets stood at 17% for both the years. Non-current capital of the Group decreased by 4% as compared to the previous year and stood at EUR 6,989 million. Table 3 in Appendix shows the equity, non-current liabilities and total assets of TUI AG. Equity and non-current liabilities (debt financing) amounted to 36% of the total assets of the Group (for the previous year it was 40% of the total assets). The increase in non-current liabilities signifies that the company has resorted to additional external funds to support its operations. With incre ased external debts, the interest burden on the company is increasing, which in turn affects the current ratio of the company, because of the increase in the current liabilities. With this policy of increasing the external funds, TUI AG is increasing its current financial obligations in the form of interest payments. With a strain on the liquidity of the company, TUI may find it difficult to meet the interest payments in time. Hybrid Capital In December 2005, TUI issued Hybrid Capital to the extent of EUR 300 million, the first of its kind from a non-investment grade organization. The Hybrid Capital represented a debt, which is deeply subordinated and unsecured. â€Å"The two main traits of a hybrid bond are a long maturity (hybrids are often perpetual) along with the possibility to defer interest payments under certain conditions† (Carlsson et al., 2006).Advertising We will write a custom essay sample on Analysis of Capital Structure and Debt Financing of TUI specifical ly for you for only $16.05 $11/page Learn More TUI AG introduced the features of â€Å"deep subordination, perpetual tenor, cumulative optional interest deferral and replacement language† (Corporate Markets, 2006), in the structure of the Hybrid Capital to achieve equity credit from the rating agencies. TUI AG has used the important benefit of Hybrid Capital, in that, even though hybrid capital is perpetual debt of the company, it looks like equity on the balance sheet of the company. Hybrid Capital has a benign effect on the rating of the company. The other advantage of Hybrid capital is that there would be no dilution and coupon payments are eligible for tax deduction. Because TUI AG structured hybrid in an ideal manner, it achieved appropriate equity credit from agencies and it was received well by investors. Bonds â€Å"In the case of funding via the corporate bond market, the monitoring of borrowers by many creditors, as is the case in the corp orate bond market, could lead to unnecessary costs and free-riding problems† (Altunbas et al. 2009). Volume of prior studies supports an extensive theoretical literature (Besanko and Kanatas 1993; Hoshi et al. 1993; Chemmanur and Fulghieri 1994; Boot and Thakor 2000; Holmstrom and Tirole 1997 and Bolton and Freixas 2000). TUI issued 3,868,373 units of convertible bond with subscription rights carrying a coupon rate of 5.5% payable semiannually. These bonds are maturing in 2014. The nominal value of the bonds is EUR 218 million. To augment the debt financing, â€Å"TUI AG also issued notes worth EUR 100 million, maturing in August 2014.† The Group’s debt financing includes two convertible bonds of  £ 350 million and  £ 400 million issued by TUI Travel PLC. Large corporations such as TUI AG have used external loan funds as the important contributor of business funding. Analysis of Debt Financing and Capital Structure of TUI AG Management of firms can calculate the optimal capital structure, using theoretical models. However, many researchers have found most of the firms do not have optimal capital structure (Simerly and Li, 2000; Myers, 1997; Song and Thakor, 2008). This is true in the case of TUI AG. The capital structure of the Group was affected by the financing measures taken by TUI AG and TUI Travel PLC, in the form of bonds issued by both entities.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The capital structure of a company indicates the relative combination of long-term debt and equity in its capital. Majority of financial theories seeking to analyze corporate capital structures focuses on debt financing as a tax shield for firms. The capital structure of TUI AG shows an excessive reliance on debt financing, which is comparable with the norms of â€Å"Hotels, Restaurants and Leisure Industry† at 64.0% as of March 2011. However, the operating profits and the liquid assets of the company are not strong enough to meet the financial obligations because of interest payable by the company on its external debts. TUI AG appears to be more effective in its cash collections as compared to other companies operating in the industry. With the latest financial information available about the company, the uncollected receivables amounted to Euro 2.4 billions, which amount represented a Days Receivable Outstanding of 62.48 at the current sales figures of the company. Despite the efficiency in the collection of book debts, the company is facing liquidity crunch because of its debt financing. One of the reasons for the liquidity crunch of TUI AG is the inefficiency in managing its inventories. TUI AG has followed â€Å"Pecking Order Theory† in raising additional funds through issue of bonds. The company has preferred to use fixed interest bearing debts in the form of bonds, which underlines the operation of pecking order theory. In addition, use of Hybrid instruments indicates the application of pecking order theory. The company cannot be said to have applied signaling to its shareholders, because the company has a precarious debt to equity position. The company’s debt to equity position as shown by the following table indicates that the company has borrowed excessively by issue of long-term bonds. The interest payments on the long-term bonds would place significant strain on the cash flow of the company affecting the liquidity of the compan y. When the company faces short-term liquidity crunch, the company might resort to securing additional long-term funds to meet the short-term obligations. Table: Debt to Equity Ratio of TUI AG Description Amount (Euro Million) 2008-09 2009-10 Equity 2,240.8 2,434.2 Non-current liabilities (Debt) 3,175.1 2,827.5 Total Equity + Debts 5,415.9 5,261.7 Total Non-current liabilities 7,268.8 6,989.2 Total Assets 13,460.2 14,615.5 Equity to Total Assets 16.6% 16.6% Total Debt to Total Assets 40.2% 36.0% Total Non-current Liabilities to Total Assets 54.0% 47.8% A look at the current ratios for the company for the current and previous years shows that the current ratio is less than one, which implies that the company has shortage of liquid funds to meet its short-term obligations. The company might have used its long-term funds raised by issue of bonds to meet their short-term financial obligations, which is not a desirable practice as such practice may lead the compa ny to bankruptcy. The next section of the paper focuses on the Shareholder Value Analysis model to value TUI AG as developed by Rappaport (1986). Part II Valuation of TUI AG – Shareholder Value Analysis (SVA) Model The intrinsic value of a stock can be determined using Gordon Growth Model. This model assumes a series of dividends payable growing at a constant rate over the future period. The model further assumes that dividend grows at a constant rate over the future years and the growth is in perpetuity. The present value of future dividends is considered to arrive at the intrinsic value of the shares. However, in the case of TUI AG, considering the present financial status of the company, a constant dividend growth cannot be assumed and hence the Shareholder Value Analysis model is used to find the value of the shares. To meet the shortcomings found in the traditional accounting measures, consultants like Rappaport (1986) and Stewart (1991) developed the concept of sharehol der value and the ways in which shareholder value can be improved. This in turn has led to the development of metrics like Shareholder Value Analysis (SVA). The SVA approach developed by Rappaport (1986) can be used for estimating the value of shareholders’ stakes. The value of operations of a business can be determined by discounting the future operating â€Å"free cash flows† at a cost of capital that is appropriate considering the capital structure of the company. Principal Value Drivers for TUI AG SVA value driver approach provides a simplified method. This method provides sufficiently reliable approximation in many of the situations. Seven value drivers need to be developed for estimating the value of operations during the planning horizon. The value drivers for TUI AG  can be arrived as below. Percentage of Annual Sales Growth Particulars 2006 2007 2008 2009 2010 Sales Euro Million 20,916 21,866 24.868 19,265 16,350 4.5% 13.7% -22.5% -15.1% It is as sumed that sales growth will remain -15% in 2011 and during the planning horizon of 5 years the rate of growth is assumed as below. An incremental sales growth of 5% is assumed during the future years, and the percentage change during the planning horizon period. 2011 2012 2013 2014 2015 -15% -10% -5% 0% 5% Operating Profit Margin The operating profit margin is calculated based on the operating expenses during the past 5 years. Particulars 2006 2007 2008 2009 2010 Sales Euro Million 20,916 21,866 24.868 19,265 16,350 Operating Profit 1,184 1,261 922 1,282 1,670 Operating Margin 6% 6% 4% 7% 10% It is assumed that the business of TUI AG will earn an operating margin of 10% as was possible in the year 2010. The assumed percentage of operating margin for the planning horizon is shown below. 2011 2012 2013 2014 2015 10% 10% 10% 10% 10% Cash Income Tax Rate Cash income tax rate is assumed at 15% as the Group income is subjected to German corporation tax. As men tioned in the annual report, the cash income tax rate is assumed at 15% for all the years in the planning horizon, and no change is anticipated in the government policies, which will have an effect on the effective income tax rate. Incremental fixed capital rate The incremental fixed capital rate is calculated taking into account the historical cash outflow on capital investment activities. Particulars 2006 2007 2008 2009 2010 Capital Expenditure 757 1,116 954 2,329 2,287 Incremental rate 4.5% 13.7% -22.5% -15.1% Assumed incremental capital investment rates are: 2011 2012 2013 2014 2015 -5% -5% -5% -5% -5% Investment in Working Capital Rate Particulars 2006 2007 2008 2009 2010 Current Assets 4,797 4,721 9,317 4,367 5,258 Current Liabilities 6,374 6,404 8,692 6,190 6,976 Net Working Capital (NWC) -1,577 -1,683 625 -1,823 -1,718 Increase/decrease in NWC -106 2,308 -2,448 105 Since there is no regular pattern is seen in the changes in the net working c apital an incremental rate of increase in working capital investment of 5% is assumed. 2011 2012 2013 2014 2015 5% 5% 5% 5% 5% Planning Horizon Planning horizon is taken as the five-year period starting from 2011 until 2015 at the end of which it is assumed that the growth will be zero irrespective of any new investment in fixed capital or in working capital Cost of Capital Generally, Weighted Average Cost of Capital (WACC) is adopted as the measure for discounting the future cash flows. Weighted Average Cost of Capital (WACC) is an important constituent in the calculation of the valuation of a firm using SVA model. WACC is the weighted average of the cost at which equity capital is serviced and the cost of debt financing. The ratio of external financing and own share capital in the company’s capital structure determines the relative cost of equity and debt of the firm. The cost of capital is calculated using Capital Asset Pricing Model (CAPM) method. WACC of TUI AG b ased on the figures for the year 2009-10 is calculated as below. Calculation of WACC % Capital Structure   % Including Current and Other Liabilities   % Excluding Current and Other Liabilities and Losses 2009-10 Current assets 5,258.8 Net fixed assets 9,356.7 Total assets 14,615.5 Current liabilities 7,626.2 52% Long-term debt 2,961.7 20% 56% Other Liabilities 1,593.4 11% Equity 2,340.9 44% Minority interest 93.3 Total common equity 2,434.2 17% Total liabilities equity 14,615.5 100% 100% Cost of Equity = Risk Free Return + Beta (Market Risk Premium) = 3.3% + 0.83 (5%) = 7.45% Cost of Debt = = Weighted Interest Rate x (1 – Effective Income Tax Rate) = 5.35% x (1-15%) = 5.35% x 85% = 4.5% Weighted Average Cost of Capital Equity Weight (Cost of Equity) + Debt Weight (Cost of Debt) = 44% (7.45%) + 56% (4.5%) = 3.28% + 2.52% = 5.80% or 6.00% Effect of Changes in Key Assumptions This section discusses the changes in the key assump tions, by changing the relevant values in three different excel sheets based on the original SVA model. In view of different steps involved in the calculations, this simple working method is adopted instead of using â€Å"Whatif† function in Excel. With the key assumptions of shareholder values the intrinsic value of common share of TUI AG is worked at Euro 0.45 per share. Relevant calculations are shown in the Excel sheet attached. Using the SVA model, the following changes are made in the key assumptions and the effect of the changes made significant changes in the shareholder value. At the first instance, the sales growth is assumed at 10% from sales of the base year 2010. At the rate of 10% increase in sales the intrinsic value per share increased 0.61 Euro per share. In the second case, along with the increase in sales growth the operating margin is assumed to be 20% of sales, which resulted in a share value of Euro 1.05 per share. The third working shows the share value at Euro 1.08 with changes in the sales growth rate, operating margin and increase in working capital at 15% during the planning horizon. The calculations in SVA model thus enable mangers to understand the change in the value of the firm with changes in the key assumptions, which in turn help them in many decision-making situations. For instance, TUI AG can find out the required changes in the capital structure to bring about changes in the working capital and the resultant changes in the shareholder value of the operations of TUI AG. Difficulties in Applying SVA in Practice The most significant issue in using SVA model in practice is the prediction of the variables or key assumptions required to be used in the analysis. A variety of factors including changes in consumer behavior and economic changes will have an influence in affecting the shareholder value. In practice, it is difficult to assume these changes to arrive at the key assumptions. It is difficult to make assumptions abo ut discount rate planning period and projected cash flows in the varying business circumstances. Most of the criticisms reflect on the application of the SVA model. Generally, companies lack imagination and rigor in their strategic thinking, which disable them from linking the figures assumed for SVA with their actual strategic planning. This is a serious problem, which affects the practicality of the application of SVA to real life situations. In addition, because different sets of organizational members are involved in the formulation of strategies and development of SVA model in the context of large companies human shortcomings like over-optimism and narrow thinking cannot be ruled out, which would vitiate the results of the SVA model adopted. Although one can understand these shortcomings, they are not acceptable for an effective use of the SVA model in practice. This is the reason managers often find different ways of working with SVA models to avoid the usual pitfalls and to e nsure successes to be achieved with SVA† (Day and Fahey, 1990). One other criticism against the application of SVA model is that the managers often spend considerable time in developing SVA models and testing the sensitivity of the key inputs. This extended executive time spent on sensitivity testing exercises reduces the time of the executives spent on strategic thinking. In addition, there is unlikely to be agreement among the executives on the values of key inputs like the discount rate, planning period and projected cash flows. This disagreement might affect the practical value of SVA models. Market Valuation of TUI The market valuation of TUI has been calculated based on the free cash flows and Shareholder Value Analysis (SVA) model, taking a planning horizon of five years from 2010-11 until 2014-2015 taking 2009-2010 financial year as the base year for calculation. Even though the current market value of the shares of TUI AG is Euro 7.56, the intrinsic value of the share s is arrived at Euro 0.45 only based on the SVA model of Rappaport (1986). The excessive borrowing of the company through bonds and the financing from banks has reduced the value per share. This is because, the intrinsic value of the shares is calculated after deducting the market value of debt from the total corporate value as at the end of the planning horizon of 5 years. With more debt financing the intrinsic value will go down to the extent of debt financing. Therefore, when the company has more external debts, the intrinsic value is likely to go down. When TUI AG is able to increase the sales and the percentage of operating margin, the company would be able to increase the free cash flows, which in turn would increase the present value of the cumulative cash flows during the planning horizon. With the result, the intrinsic value of the shares of TUI AG goes up. This is reflected by the calculations using the basic SVA models. With a presumed increase in the percentage of sales growth, operating margin and operating capital the intrinsic value of the shares of TUI AG would go up Euro 1.08 per share. It may be observed even with the presumed increase in the different variables, the intrinsic value is much less than the market value, implying that the shares of TUI AG are highly over-priced. With the imminent liquidity crunch, TUI AG might find it difficult to meet its current financial obligations with ease. Conclusion The exercise contained within this report was used to analyze the capital structure of TUI AG, a large multinational company operating in tourism industry. The company is found to be using excessive external borrowing in the form of bonds, which has increased the interest burden of the company and consequently has affected the liquidity of the company. Although the debt to equity ratio is comparable with the other firms of the industry, the operating profits and the liquid assets of the company are not strong enough to meet the financial obli gations because of interest payable by the company on its external debts. Part II of the exercise was concerned with the determination of the market value of the firm using the Shareholder Value Analysis (SVA) model developed by Rappaport (1986). Because of the excessive external borrowing by the company, the intrinsic value of the company has been found to be very low as compared to the market price and hence the shares of the company can be considered over-priced. References Besanko, D. and G. Kanatas, 1993. Credit market equilibrium with bank monitoring and moral hazard, Review of Financial Studies, 6(1), pp. 213-32. Bolton, P. and X. Freixas, 2000. Equity, bonds and bank debt: capital structure and financial market equilibrium under asymmetric information. Journal of Political Economy, 108, pp. 324-51. Brealey, R. A., Myers, S., Partington, G., Robinson, D. 2003. Principles of Corporate  Finance. Sydney: Mcgraw-Hill Australia. Carlsson Patric, Holm Oscar and Sello Martin, 200 6, Corporate Hybrid Capital – Expensive  Debt or Cheap Equity? Web. Chemmanur, T., and P. Fulghieri, 1994. Reputation, renegotiation, and the choice between bank loans and publicly traded debt. Review of Financial Studies, 1, pp. 475-506. Corporates Markets, 2006, Corporate Hybrid Debt: Perspectives for a new asset class, Web. Day George Fahey Liam (1990), Putting Strategy into Shareholder Value Analysis, Web. Holmstrom, B. and J. Tirole, 1997. Financial intermediation, loanable funds and the real sector. Quarterly Journal of Economics, 112, pp. 663-91. Hoshi, T., A. Kashyap and D. Scharfstein, 1993. The choice between public and private debt: An analysis of post-deregulation corporate financing in Japan, NBER Working Papers 4421, National Bureau of Economic Research, Inc. Modigliani, F.; Miller, M. 1958. The Cost of Capital, Corporation Finance and the Theory of Investment American Economic Review 48 (3): 261–297. Modigliani, F. and Miller, M. 1963. â€Å"Corpora te Income Taxes and the Cost of Capital: A Correction†, The American Economic Review, Vol. 53, pp. 433-443. Myers, S., 1977. Determinants of corporate borrowing. Journal of Financial Economics, 25, pp. 99-122. Simerly R. L, Li M. 2000. Environmental dynamism, capital structure and performance: a theoretical integration and an empirical test. Strategic Management Journal 21: 31-50. Song Han-Suck 2005. Capital Structure Determinants. An empirical study of Swedish companies. CESIS Electronic Working Paper Series, Paper No. 25. Song, F. and A. V. Thakor, 2008. Financial system architecture and the co-evolution of banks and capital markets. Working paper, Pennsylvania State University. Vasiliou, D. and Daskalakis, N. 2006 â€Å"The Practice of Capital Structure in a Small Market and a Cross-National Comparison†, SSRN Working paper series. This essay on Analysis of Capital Structure and Debt Financing of TUI was written and submitted by user Angela W. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

How Can Meditation Help You Boost Your Career

How Can Meditation Help You Boost Your Career There are a lot of benefits to meditation. It can help reduce stress and anxiety. It can put your mind into a state of relaxation and serenity. It’s also good way to start or end your day. But how can meditation help you boost your career? What are the professional benefits of meditation and how can it help you achieve professional goals and milestones? Take a look at this infographic by Crystal Heart Physics  for more information on how meditation can help you boost  your productivity and achieve your goals.

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Monetary Policy and its Effects on Stock Markets - Essay Example Despite claims that monetary policy should not affect stocks, there is evidence that the policy can affect real stock prices in the short run (Bernanke & Kuttner 2005) and also an opinion that the nature of the monetary policy regime can affect the performance of asset markets over longer horizons. It has also been observed that by altering the path of expected dividends, the discount rate or the equity premium is one of the effects of the monetary policy on stocks1 Observers of Financial Markets have noted that an unexpected decrease in the federal funds rate target leads to a rapid and positive reaction in stock prices thus implying the effect of the Monetary Policy on Stock Markets. Research Methodology - Our research methodology includes secondary data indicating the effect of policies on stock markets. We shall also examine the behaviour of important macroeconomic and monetary policy variables during stock market booms which will lead us to understanding the effect of macroeconmic policies like the Monetary Policy on Stock markets. The effects of Monetary Policy on Stock Markets. Monetary Policy Tools that affect stock prices Discount Window Lendings - The Monetary Authority can directly change the size of money supply by using the Discount Window tool. By calling in existing loans or extending new loans, the money supply in the country is regulated. When the money supply is ample, investors look to investments and when money supply is low, invetments are diluted to increase liquidity. Thus Discount Window Lendings influences stock prices. Reserve Requirement - A certain reserve of their assets is meant to be held by the Central Banks which is for withdrawals and the remainder is normally invested in mortgages and loans. A change in the reserve... In this essay, the researcher aims tol ascertain the importance of the Monetary Policy and its effect on the stock markets. Despite claims that monetary policy should not affect stocks, there is evidence that the policy can affect real stock prices in the short run and also an opinion that the nature of the monetary policy regime can affect the performance of asset markets over longer horizons. The research methodology includes secondary data indicating the effect of policies on stock markets. The researcher also examines the behaviour of important macroeconomic and monetary policy variables during stock market booms, which lead to understanding the effect of macroeconmic policies like the Monetary Policy on Stock markets. The researcher then concluds that early effects of the monetary policy can be observed when asset prices tend to focus on the impact of changes in liquidity on the demand for various assets that compromise the portfolio of the Private Sector. Extended periods of ra pidly appreciating equity housing and other asset prices in the United States and elsewhere since the mid 1990s have increased attention towards the effects of monetary policy on asset markets. The researcher also can conclude, that 20th century stock market booms typically were associated with the business cycle arising, when output growth was above average and ended as output growth slowed showing the effect of economic policies which affect stock markets and the stock markets globally are affected by Monetary Policy.

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Why does privatization seem to be more successful in some countries than in others Use some examples of your choice to illustrate your argument - Essay Example As privatization of state-owned enterprises becomes a common phenomenon in the globalizing world, it must be remembered that privatization is not equally carried out among countries. Countries differ as far as privatization is concerned and this has resulted into some countries realizing profound success as compared to other countries. Therefore, different factors interplay and operate in the wider environment with regard to specific country as far as privatization is concerned. Unsuccessful privatization has largely been associated with developing states as compared to developed states (Boulle 2009). Different varying but common factors have been provided for this. In most states that have realized unsuccessful results with regard to privatization has been associated with political and institutional factors that normally complicate the success of implementing goals of privatization. These political factors are captured in aspects such as corruption; manipulation of regulation agencies; limited technological expertise; and weak auditing, accounting, and tax systems (Boulle 2009). On their part Kikeri, Nellis and Shirley (1994) identify two categories of factors that make privatization successful (Boubakri and Cosset 1999). According to the authors country’s conditions and market conditions combine to dictate the success or failure of any privatization initiative. Accordingly, the country conditions that lead to successful privatization include open t rade regime, stable and predictable environment for investment and enhancement of a developed institutional and regulatory capacity (Boubakri and Cosset 1999). On the other hand, market conditions congregate around creation of an environment that is competitive which also promotes efficiency (Boubakri and Cosset 1999). In addition, market conditions need to promote and make it effectively for tradable goods and services to be

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Uses of a Virtual Private Network (VPN) A virtual private network (VPN) is a point to point connection that connects a user to a private network in a different location. Basically, VPNs are used to set up a secure connection to the internet. A VPN works by creating a point to point connection from a public wifi connection to a private wifi connection in a business or company building as if you are directly connected to the network. Since the normally accepted definition for a network is fairly common and usually accepted throughout the trade. A network consists of any variety of devices which may communicate through some arbitrary technique. Devices of this nature include computers, printers, and routers will reside in geographically numerous locations. The strategies during which they will communicate are varied, since there are infinite electronic communication specifications, data-link, transport, and application layer protocols. For the needs of simplicity, lets simply agree that a network is a assortment of devices which will communicate in some fashion, and will, with success, transmit and receive information amongst themselves. The term private is fairly easy, which is, in an elaborate way, associated with the idea of virtualization to that degree as VPNs are involved, as well discuss later. Within the simplest of definitions, private implies that communications between 2 (or more) devices is, in some fashion, secret that the devices which arent involved with the connection wont be aware of the information being communicated, and that theyre so fully unaware of the non-public relationship altogether. consequently, information privacy and security (data integrity) are vital aspects of a VPN which require to be taken into thought once considering any specific VPN implementation. Another way of expressing this definition of private through the opposite word, public. A facility that is a public one that is overtly accessible, and is managed inside the terms and constraints of a typical public resource, typically via a public administrative entity. In contrast, a private facility is one wherever access is restricted to an outlined set of entities, and third parties cannot gain access. Typically, the non-public resource is managed by the entities who have privilege of access. Samples of this kind of non-public network can often be found in any organizational network that isnt connected to the web, or to any other external structure network, for that matter. These networks are non-public as a result of the very fact that theres no external property, and therefore no external network communications. The distinct nature of VPNs enable both privacy and virtualization, whereas VPNs arent fully separate, per se, the difference is that they operate in a very discrete fashion across a shared infrastructure, providing exclusive communications environments that dont share any points of interconnection. It should also be noted that while VPNs could also be created to handle any variety of specific business desires or technical necessities, a comprehensive VPN solution provides support for dial-in access, multiple remote sites connected by hired lines (or alternative dedicated means), the ability of the VPN service supplier to host numerous services for the VPN customers (e.g., net hosting), and also the ability to support non connected VPN , however in addition inter-VPN connectivity, as well as connectivity to the worldwide internet. There are nu merous motivations for building VPNs, however a standard thread in each is that all of them share the necessity to virtualize some portion of an organizations communications in alternative words, create some portion (or perhaps all) of the communications basically invisible to external observers, whereas taking advantage of the efficiencies of a typical communications infrastructure. The base motivation for VPNs lies within the economics of communications. Communications systems nowadays usually exhibit the characteristic of a high fixed-cost part, and smaller variable value parts which vary with the transport capability, or bandwidth, of the system. Inside this economic atmosphere, its typically financially enticing to bundle variety of distinct communications services onto a standard high capability communications platform, permitting the high fixed-cost components related to the platform to be amortized over a bigger range of clients. Consequently, an assortment a set of virtual networks included on one common physical communications plant is cheaper to work than the equivalent collection of smaller physically separate communications plants, each servicing one network consumer. Historically, among the precursors to the VPN was the Public Data Network (PDN), and therefore the current acquainted instance of the PDN is that the world web. The internet creates a p resent connective paradigm, wherever the network permits any connected network entity to exchange information with another connected entity. The parallels with the world Public Switched Telephone Network (PSTN) are that, of course, all too obvious wherever an identical paradigm of present public access is the strong trait of the network. The public data network has no policy of information traffic segregation, and any modification to the current network policy of allowing present connectivity is that the responsibility of the connecting entity to outline and enforce. The network atmosphere is built employing a single addressing scheme and a standard routing hierarchy, that permits the changing components of the network to figure out the placement of all connected entities. All of those connected entities additionally share access to a standard infrastructure of circuits. The alternative to implement the net as a VPN nowadays is to lease circuits, or similar dedicated communications services, from the general public network operators (the local telephone company in most cases), and make a totally non-public network. its a layering convention that permits US to label this as completely non-public, as these dedicated communications services are (at the lower layers of the protocol stack) again, instances of virtual non-public communications systems created atop a typical transmission bearer system. Of course, this is often not without precedent, and it should be noted that the bulk of the early efforts in information networking, and many of the present information networking architectures, dont assume a deployment model of present public access. The alternative to using the web as a VPN nowadays is to lease circuits, or similar dedicated communications services, from public network operators (the local telephone service in most cases), and build a total ly non-public network. its a layering convention that permits United States of America to label this as completely non-public, as these dedicated communications services are (at the lower layers of the protocol stack) once more instances of virtual non-public communications systems created atop a standard transmission bearer system. Of course, this is often not while not precedent, and it should be noted that the bulk of the first efforts in information networking, and a variety of the present information networking architectures, dont assume a preparation model of present public access. However, this alternative will have an associated value, in that the consumer now must manage the network and all its associated components, invest capital in network change infrastructure, hire trained workers, and assume complete responsibility for the provisioning and on-going maintenance of the network service. Such a passionate use of transport services, equipment, and staff is commonly difficult to justify for several small-to-medium sized organizations, and whereas the practicality of a non-public network system is needed, the expressed need is to scale back the price of the service through the utilization of shared transport services, equipment, and management. There are variety of situations which may address this need, ranging from outsourcing the management of the changing components of the network (managed network services) to outsourcing the capital equipment elements (leased network services), to the outsourcing of the management, equipment, and transport components to a service supplier altogether. This is, in fact, the foremost common form of VPN within which there are geographically various subnetworks which belong to a standard administrative domain, interconnected by a shared infrastructure outside of their body management (such as the world wide web or a single service suppl ier backbone). The principle motivation for establishing a VPN of this kind is that maybe the bulk of communications between devices among the VPN community could also be sensitive in nature (again, a choice on the extent of privacy needed rests exclusively on a risk analysis performed by the directors of the VPN), nevertheless the full worth of the communications system doesnt justify the investment during a absolutely non-public communications system that uses distinct transmission components. On a related note, the extent of privacy a VPN could relish depends greatly on the technology used to construct the VPN. as an example, if the communications between every VPN subnetwork (or between every VPN host) is securely encrypted because it transits the common communications infrastructure, then it can be said that the privacy aspect of the VPN is comparatively high. In fact, the granularity of a VPN implementation will be de-escalated further to one end-to-end, one-to-one connectivity situation. samples of these kinds of one-to-one VPNs are single dial-up users establishing a VPN association to a secure application, like an internet banking service, or one user establishing a secure, encrypted session between a desktop and server application, like a purchasing transaction conducted on the internet. This is often a kind of one-to-one VPN is changing into more and more prevailing as secure electronic commerce applications become a lot more mature and further deployed on the net . So what is a Virtual Private Network? As weve mentioned, a VPN can take many forms. A VPN area unit typically between two end-systems, or it should be between two or additional networks. A VPN is also built with tunnels or encoding (at primarily any layer of the protocol stack), or both, or instead created with MPLS or one in every of the virtual router ways. A VPN can contain networks connected to a service providers network by hired lines, Frame Relays, or ATM, or a VPN can embrace dial-up subscribers connecting to centralized services, or different dial-up subscribers. The pertinent conclusion here is that whereas a VPN can take many forms, there are some basic common problems that a VPN is built to unravel, whereas at the same time exploiting the monetary probability of economics of the scale of the underlying common host communications system. In general, the technique of supporting personal communities of interest just by route filtering will at the best be delineated as a primitive technique of VPN construction, that is vulnerable to body errors, associate degreed admits an undue level of insecurity and network inflexibility. Even with comprehensive traffic an d route filtering, the ensuing atmosphere isnt completely robust. The operational overhead needed to support complementary sets of ancient routing and traffic filters could be a relevant thought, and this approach doesnt seem to possess the scaling properties to permit the quantity of VPNs to grow farther than the bounds of various connections, using todays routing technologies. Having said that, however, a far additional scaleable approach is to use BGP communities as a technique to regulate route propagation. the utilization of BGP communities scales far better than different strategies to that extent as dominant route propagation and is a smaller amount vulnerable to human misconfiguration. As you can see I have explained what a VPN is, how it works, and why we use it for a variety of things such as everyday use and for more business type situations.

Advocacy Plan for Social Change Essay

Protected class group are individuals protected from harassment and discrimination. Discrimination in occupation and employment takes different forms. Under state and federal legislation, unlawful discrimination may take place when an individual or group of people is ‘treated’ in a different way due to particular attributes such as sex, color and race, which leads to impairment of equality of treatment and opportunity. Discrimination in the place of work may occur when selecting and recruiting staff and considering dismissal, retrenchment, promotion, or transfer. The reason to advocate for this group is that human dignity and human development hinge on ‘freedom’ from discrimination at the place of work. Eliminating discrimination is important as society, individuals, and enterprises stand to gain. It is invaluable if a person is able to choose his/her professional paths, be rewarded based on his/her merit as well as develop his/her skills and talent. Discrimination leads to disadvantages and imbalances in the labor market. Justice and fairness at the place of work boosts motivation, self-esteem, and morale of employees. A more loyal and productive labor force combined with practical human resources management leads to more competitive and productive enterprises. Promoting equality and enacting laws outlawing discrimination is crucial for social change (Kundu, 2001). However, laws are not the only solution to eliminate discrimination. The first step to advocate for the protected class group is to encourage organizations to develop workplace programs that reduce discrimination and racism. In some cases, discrimination and racism result from lack of knowledge in different population groups. Creating a recruitment strategy that supports diversity in the place of work is an effective approach to improve attitudes about workers who have different cultures. In addition, diversity awareness training can reduce discrimination and racism. Diversity awareness training is different from training about laws of employment. Diversity awareness programs educate people about factors that lead to improved relationships in the workplace such as appreciation and mutual respect for similarities and differences  (Kundu, 2001). Diversity awareness boosts learning and contribution of the employees irrespective of their cultural or physical attributes and creates diverse workplaces. The stakeholders to take part in this campaign against workplace discrimination are employees and community groups. Employees represent different communities which have different backgrounds. There are a number of groups that are against discrimination and racism such as American Institute for Managing Diversity (AIMD), Center for Equal Opportunity (CEO), and CoAction. Community groups can help to promote community dialogues on discrimination and racism. People will learn to respect the dissimilarities in all populations leading to social change. While a person needs to be proud of his/her affiliation in a certain culture, this does not imply that he/she can feel superior or disrespect another group. When employees join groups that are working against racism, they will be able to maintain open dialogue regarding their race and others. When people learn about cultures, this will reduce discrimination since they will have to adapt to each other. Due to few stereotypes, individuals will respect each other. As time goes by, people will be able to tolerate each other and eventually accept one another. To create communities that are influential to accomplish significant change, there is need for different people to work together. When various communities join forces, it will be possible to reach common goals. Each community has unique perspectives and strengths that will benefit the larger society. Reference Kundu, S. (2001). Managing Cross-Cultural Diversity: A Challenge for Present and Future Organizations. Retrieved 11November, 2012, From http://www.delphibusinessreview.org/v_2n2/dbrv2n2e.pdf

O level papers

Are downloaded e-books a passing fad or are they here to stay? One attraction of e-books is that some of them are free. Others can be downloaded at a much cheaper price than the bookshop price, and for avid readers this is an obvious advantage because the money saved can be spent on other things, perhaps new clothes or days out. There is no need to make time-consuming trips to bookshops, which is a real hassle, especially for parents with children to bundle into the car or bus. Instead, books can be paid for and downloaded from the comfort of our own living room.E-readers don't take up much space, which makes a huge difference to people whose living space might be limited, for example, families with several young children wing for space for toys, games and all the paraphernalia of family life. Moreover, e-readers are extremely portable; instead of having to choose which book to take with you to read on the train, or having to narrow your choice to three or four books to fit into your holiday suitcase, you can have the delightful experience of carrying hundreds on your e-reader.E-readers are a blessing to short-sighted or visually-impaired readers because, as with all computer screens, the size of the print can be increased; no more squinting at the pages of a book or, worse, having the frustrating experience of not being able to read the book at all. Lights can also be attached to e-readers, and this is generally conducive to keeping eyes healthy. Users of e-readers can personalize their reading in the same way that people often personalize their mobile phones, as e-readers can be purchased with covers in a variety of materials and colors.While those who are generally wary of technology complain that e-readers are mere gimmicks, teachers and parents, who often regret that children don't read enough, hope that the novelty value of e-readers will lead to increased reading and improved examination results. Gone is the need for bookmarks and the frustration of losi ng the place in your book, as e-readers remember where you stopped reading and take you automatically to that point when you open up to start reading again. 4 However, e-readers have their critics too.There are those who say that e-readers ill bring about the closure of libraries, which will be a great loss to society as a whole. Although downloaded books are cheap or even free, the initial cost of e- readers is high, as they are essentially computer-based, and computers are expensive. This is all very well for those who can afford it, but it is socially divisive because not everyone can. If e-readers do bring about the closure of libraries, some people – those who can afford neither books nor the technology to read e-books – will have little opportunity to read at all. And what about the sheer, aesthetic pleasure f owning books? Many people delight in holding, and Just possessing, their favorite books. Snuggling up on the sofa with an e-reader pales into insignificanc e when compared with doing so with a ‘real' book. When people are moved to tears or to fury by characters or plots in a book, they instinctively tell their friends about it, and often books change hands and are temporarily swapped. This delight is denied to readers of e-books.Furthermore, students are not able to annotate e-books and use them for buying e-books from home, readers have to know what they are looking for, whereas rousing in a bookshop allows readers to stumble on books they might otherwise never have come across. It would be a great pity if bookshops had to close because they were unable to compete with e-readers, either because the customers didn't come any more, or because they were reluctant to pay the higher prices inevitably charged for books as opposed to e-books. Moreover, Jobs would be axed if bookshops closed. Will society have to pay too high a price for this latest technology?

Pablo Picasso in Life and Art A Biography - 1925 Words

Pablo Picasso in life and art Biography: Pablo Picasso Pablo Picasso is widely considered the most famous and influential artist of the 20th century. What is so unique about Picasso is his scope: he is not associated with a single artistic movement (along the lines of Jackson Pollacks association with Abstract Expressionism or Salvador Dalis association with Surrealism); rather, his career spanned a wide range of styles and aesthetic philosophies. Picassos style was very realistic at the beginning of his career. As a young art student, he was known for his lifelike drawings. Only later did he become conjoined with a myriad of modernist movements. His creative styles transcend realism and abstraction, Cubism, Neoclassicism, Surrealism, and Expressionism (Voorhies 2004). Picassos Blue and Rose periods were characterized by relatively conventional representational styles, although the subject matter focused upon Bohemian life. 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