Practice management and law

Section 1Clearly explain what peculiar demands must be in topographic point for a Contract to be between two parties?For a contract to be between two parties there must be grounds of three cardinal rules.An purpose between all involved parties to organize a lawfully adhering relationship.A consideration ( normally pecuniary ) for the understanding.The offer and credence of the declared understanding.The purpose of a lawfully adhering relationship from each party must be formal ; a moral duty entirely is deficient. As such, articles such ‘The Memorandum of Agreement ‘ lineation the demands of parties when meaning to come in a contract. For a contract to be the promise must be enforceable with a consideration. It is the party who provides this deal who enforces the contract. Once a consideration is provided, all parties are drawn into privity of contract. The consideration is decided by the parties involved and the degree of adequateness is irrelevant, it must be offered and accepted for the understanding to maturate into a contract. As such, an offer without an credence is simply a pre-contractual understanding, non adhering in jurisprudence. In any instance, for a contract to be all footings of the offer must be accepted and a consideration provided. However, there is no demand for a written papers for most types of contract. An unwritten contract is lawfully adhering supplying at that place has been credence of an offer. From a legal stand-point, trouble can be avoided if documental grounds is provided of an understanding. The ‘four corners ‘ regulation allows a contract to be recorded and later is easier to implement in jurisprudence.Explain what is meant by the term ‘Duty of Care ‘ and what are the deductions upon the designer?A responsibility of attention is a legal duty in civil wrong jurisprudence imposed on the Architect necessitating they exercise a criterion of sensible attention and diligence whilst transporting out professional work that could foreseeably harm others. Any failure in an Architect ‘s responsibility of attention can ensue in an action in carelessness where they become apt in civil wrong jurisprudence. Furthermore, a responsibility of attention is besides applicable in bureau outside of any contractual agreement. It is non required that a responsibility of attention be defined by jurisprudence, nevertheless, it frequently develops through the law of common jurisprudence. In this regard, a responsibility of attention can be interpreted as a formalization of the societal contract and inexplicit duties of the single towards others in society. It is an ARB demand that Architects adhere to the established criterions of the profession and ‘exercise due accomplishment, attention and diligence, ‘whilst transporting out professional work within agreed time-frames and without unneeded hold. For a responsibility of attention to be breached, the undermentioned must be true:Injury must be ‘reasonably foreseeable ‘ of the suspect ‘s behavior.A relationship of ‘proximity ‘ between the suspect and the claimant.It must be ‘fair, merely and reasonable'to impose liability.Explain the term ‘Joint and Several Liability ‘ and how does it impact upon peculiar signifiers of architectural Practice?Under Joint and Several Liability, a client may prosecute an duty against any individual party as if they were jointly apt. The duty so passes to the suspects who must set up their several per centums of liability and pecuniary payment. Therefore, if a claimant pursues a individual suspect and receives all the amendss, that suspect must so prosecute the other calumniatory parties to obtain parts proportionate to their portion of liability. Joint and Several liability is most relevant in civil wrong claims and most frequently invoked in instances of carelessness. Architects seek to set up a clear and decently defined understanding with specific mention to the apprehension and outlooks of the client. These understandings provide an assured footing on which the committee can be undertaken. Furthermore, the chosen signifier of assignment will find the bound of the Architect ‘s liability and answerability. Architects besides seek to restrict their hazard and liability through their chosen signifier of architectural pattern. For Example, Limited Liability Partnerships and Companies can non be jointly or several apt with its members liability determined by their stakehold in the partnership or shareholding in the company.Explain what is meant by the term ‘Lean Construction ‘ .Thin building is a method of planing production systems to minimise the clip, attempt and material waste of a undertaking to bring forth the maximal sum of value. The procedure itself is derived from the ‘lean production system ‘ within the fabrication industry. It is cardinal that the production system is designed through a coaction of undertaking participants ( Client, Architect, Engineer, Contractor, Building Owner ) at the earliest phases of the undertaking. It is based on the premiss ‘that desired terminals affect the agencies to accomplish these terminals, and that available agenc ies will impact realized terminals. † The rules of Thin Construction are as follows:Allow value to flux by consistently taking obstructions to value creative activity and dispensable procedures that create no value.Optimization of the system through coaction and systematic acquisition.Precedence on presenting the Client/End-user/Building Owner ‘s expected value.Making Pull Production.The chase of perfection/continual betterment, affecting everyone in the system.Thin building addendums traditional building direction by sing stuff and information flow, concentrating on the sweetening of the production system ‘s value coevals. Therefore, a undertaking utilizing the Thin Construction method should:Deliver maximal functionality.Profit end-users with the lowest optimal cost of ownership.Extinguish the inefficiency and waste in the usage of labor and stuffs.Involve specializer providers in design from the beginning to accomplish integrating and buildability.Establish public presentation and betterment accomplishment s by measuring.Use a individual point of contact for effectual co-ordination and clear duty.Explain and specify what is meant by a Letter of Intent. What are the fortunes under which it may be issued, what may be its aims and what are the chief affairs that it should incorporate?A Letter of Intent is a papers that outlines an understanding between two or more parties before the understanding is finalised. They resemble written contracts but are non lawfully adhering for the parties involved. However, letters of purpose can incorporate commissariats that are legal binding such as a compact to negociate in good religion, non-disclosure understandings and stand-still commissariats that promise sole dialogue rights. It can besides be interpreted as binding if it resembles a formal contract excessively closely. Therefore, the missive of purpose is enforceable by the tribunals both in footings of the wage and the act. However, the missive of purpose is non a contract ; alternatively it is a one-sided understanding in which one party confirms an purpose to come in a contract with another party. Most significantly, it must incorporate an direction to move and verification of a consideration as payment. Letterss of purpose are normally issued to:Clarify the nature of complex minutess for the convenience of the parties involved.Provide precautions in instance of collapsed dialogues.Officially declare involvement or purpose.Allow work to go on rapidly based on trust.Architects chiefly use letters of purpose for the intent of dialogue. For illustration, following the first phase of stamp, a missive of purpose possibly issued to inform a contractor of their blessing based on their proposal. The contractor can so lend to the design before the 2nd phase of tendering by supplying elaborate pricings and an overall edifice cost. Once the 2nd phase of tendering is complete, a formal contract can be established between the parties.What are the chief factors that determine the pick of a peculiar contract signifier?To find the most appropriate contract signifier, the Architect and client must first see the precedences of the undertaking in footings of clip, cost and quality. These three factors are linked through a trade-off paradigm:Time consequences in increased cost and reduced quality.Cost consequences in increased clip and reduced quality.Quality consequences in increased cost and increased clip.They are all related and inter-dependant.If clip is the precedence, so the procurance method must let sufficient clip to see all of the design issues decently at the pre-contract phase. The client is afforded predictability and extra clip can be saved by leting the contractor to resource their ain stuffs, effectual direction, real-time planning and overlapping elaborate design stages with existent building. If cost is the precedence, so a fiscal bound must be established that a contract amount can non transcend. Certainty of cost is dependent upon comprehensive design, drawings and specification that accurately assesses cost at the stamp phase. If quality is the precedence, the issue and grade of quality in the finished edifice must be clearly defined and established from the beginning through a specification. Besides, the step of quality must besides be defined. The pick of contract type is besides straight related to the chosen type of procurance. Each type of procurance type uses standard contract signifiers that are known and accepted by the industry. Most designers choose to utilize these standard signifiers as they are comprehensive, address common building state of affairss and take history of current legal determinations. Factors such as the complexness, size and overall value of the undertaking may besides inform the procurement path or contract type. In all state of affairss the Architect as the lead adviser has the responsibility to rede the client of the long-run deductions of their determinations.Section 2The Design and Build procedure of procurance has been endorsed by the Public Sector as the preferable procurance option, on the footing that it is claimed that it offers certainty of contract amount and brings certain cost benefits. Consider and discourse the virtues or otherwise of this attack in comparing with the Traditional method of procurance with peculiar mention to the function of the designer. ( 70 Markss ) . Design and Build is a procurement method for undertaking bringing whereby an single contractor is contractually responsible for both the design and building of a undertaking. In recent old ages, the public-sector has moved towards Design and Build as the chosen procurement way as opposed to the traditional, tripartite agreement where design and building are individually contracted. The public-sector ‘s involvement in Design and Build can be attributed to several possible benefits that are non ever gettable through alternate procurance methods. The undermentioned points outline the advantages. The Design and Build procurement path provides a individual beginning of duty as the contractor is singularly responsible for any defect in both the building and design of the undertaking. This is of peculiar benefit to the edifice proprietor or client, who does non hold to specify whether such defects are brought about by a lack in design or building. Alternatively, the contractor is jointly and severly apt for the complete plants. In a traditional contract, it is the client who must foremost find the nature and cause of a job, before make up one's minding whether it is the interior decorator or contractor who is at mistake. Design and Build is besides a popular path for the public-sector client as the contractor is obliged to bear any extra cost that consequences from unequal or faulty programs provided by the design squad. In a traditional contract, the client warrants the sufficiency of the programs and as such is apt for any increased cost because of unequal design. In the Design and Build contract, it is the contractor who is responsible for the undertaking ‘s design every bit good as the building. They are hired to run into the client ‘s specific public presentation specifications instead than simply build the edifice as in the traditional contract procurance. Hence, if the programs are inadequately drafted or designed, the contractor is unable to seek compensation from the client. It is widely recognised that Design and Build contracts enable a undertaking to be completed within a shorter time-period than the traditional tripartite agreement. The interface between the interior decorator and contractor, frequently adversarial in the traditional method, can go more unfastened and therefore foster a more co-operative agreement and exchange of thoughts that can do the undertaking a faster procedure. Time nest eggs are besides made by ‘fast-tracking ‘ building of known elements before the specifications and drawings of unknown elements are complete. The phased-nature of the design basically allows work to get down on site whilst the ulterior stages of the undertaking are still being designed. The same time-savings are unable to be made within a traditional contract as the contractor does non normally even subject a stamp, allow alone get down work on-site, before the design and drawings of the Architect are finalised. The duty for run intoing local cont rols such as planning, bylaws and statute law is placed with the contractor, which normally consequences in increased efficiency. The phased nature of the Design and Build method besides allows the contractor to hold increased control of the undertaking and can ensue in lower costs for the client. The specific control of elaborate design enables the contractor to utilize familiar building methods and stuffs which increase the efficiency of the build procedure. By reeling the building procedure, the contractor is able to order stuffs for approaching stages, in front of clip and at a lower cost. The nest eggs made on labor, stuffs and clip are all passed on to the benefit of the client. It is considered that the Design and Build method reduces the demand for independent professional representation. Public sector clients frequently prefer to restrict the figure of ‘points of contact ‘ to curtail the sum of clip, attempt and in-house staff it requires to set about a undertaking. Often it will utilize Design and Build in concurrence with denationalization, whereby it contracts an independent party to set about duties antecedently held by the Government, such as land acquisition, undertaking finance, design, building, operation and ownership. This method, in its most complete signifier is represented by the prison guard and bundle trade options, whereby the client is uninvolved for the bulk of the undertaking and presented with the completed edifice. However, it is desirable to hold an independent 3rd party ( normally an Architect ) for the intent of quality control. Without a 3rd party, the contractor, who is hired to finish the undertaking quickly and economically, besides has the undertaking of measuring the quality and measure of its ain work. Hence, the contractor has a possible struggle of involvement and is likely to cut down quality in order to fulfill the client ‘s other demands. With the presence of a third-party, the client/owner ‘s involvements are represented during the design and building. Clients choose Design and Build contracts as normally a fixed monetary value and contract amount can be negotiated. The client specifies the maximal monetary value it is willing to pay for the undertaking before it solicits a proposal from the Design and Build contractor for its specifications, constellation and stuffs. However, trouble can originate when there is an addition in the cost of work and building. The contractor can sometimes mistreat the state of affairs by reimbursing costs in other countries of the undertaking and without a 3rd party, the client finds it far more hard to observe and command such state of affairss than in a traditional contact signifier. Therefore, most Design and Build contracts are lump-sum and fixed monetary value, but payments are completed on a cost-plus footing to ease possible additions in cost. Besides, payments tend to be dependant on the accomplishment of undertaking mileposts. This allows the contractor ‘s advancement to be measured and assessed by the client, leting easier dialogue in footings of compensation where costs have significantly increased under a fixed-price contract. However, the Design and Build path is non without possible jobs. Many designers, clients, edifice proprietors and contractors have changing sentiments about the successes of this procurance type. The undermentioned points are amongst the possible disadvantages to utilizing Design and Build in the public-sector. If a public-sector client chooses the Design and Build procurement way it is hard to actively compare preliminary proposals from multiple contractors. The contractor is merely responsible for fulfilling the client ‘s public presentation specification ; therefore the designs may be wide-ranging in aesthetic and prioritise different issues depending on the contractor ‘s single stand-point. As in the prison guard attack, the client or eventual edifice proprietor has small input into the design and concluding visual aspect of the edifice and as such, may be unsatisfied with the consequence. Besides, as the contract is entered into by dialogue instead than competitory tendering, the client may non ever achieve the lowest cost for the edifice. Therefore, unlike the traditional path, if a client wants to pull multiple preliminary proposals, they must supply an single consideration for each contractor that submits a design bundle. This is a cost frequently overlooked in debating the value of Traditional vs. Design and Build procurance, as these fees are separated from the contract amount in the instance of Design and Build. Another job with tendering a Design and Build contract is the possible for the edifice to go a competition in under-design. Contractors will seek to run into the client ‘s lineation demands whilst giving quality, life-span, easiness of care, and value in a command to offer the minimal monetary value. In puting duty for both the design and building in the contractor ‘s custodies, the client forfeits control. Therefore the client has small input in measuring sub-standard work, claiming for fluctuations, debating extensions of clip or even utilizing a expiration clause due to inordinate hold. To battle against this, it is once more advisable to utilize a third-party design professional who can look into the value and pragmatism of the tendered command. However, the pecuniary and clip nest eggs built-in to Design and Build contracts so become nominal as the time-period and expertness needed by the third-party to look into the work of the contractor is both expensive and time-consuming. Such a 3rd party can be appointed independently by the client, or be appointed through adviser switch or novation if they are the original designer/design squad. Besides, contractors seek to reimburse the spending of unsuccessful stamps with their successful stamp ‘s ; hence, the client will ever pay a little premium for the work of their chosen contractor. Another disadvantage to the Design and Build agreement is the trouble of obtaining long-run contractual protection in footings of the suitableness of the work. Many contractors use contracts where such insurance is prohibitively expensive and resultantly, commercially unviable for the client. Therefore, it is the client ‘s duty to be cognizant of the extent of coverage of the contractor ‘s liability insurance. In the event of a defect in the design or building of the undertaking, the client may be unable to recover anything if the contractor ‘s insurance coverage or assets are deficient to pay compensation, irrespective of whether liability can be determined. Public sector clients frequently choose the Design and Build procurement path as the available fiscal resources of a contractor are usually greater than that of the professional person or architectural pattern, in the event of a post-completion failure. A possible job with liability can originate when the Design and Build contractor hires an Architect as a sub-consultant. Most contractors ‘ professional insurance insurance does non cover amendss caused by faulty design or specifications prepared by the Architect. Conversely, the Architect ‘s professional insurance insurance does non cover amendss caused by faulty labor, stuffs or operations during the contractor ‘s building procedure. Therefore, the contractor offers a guarantee for an agreed ( but normally limited ) time-period based on the impression of carelessness. However, the commercial and fiscal force per unit areas of the Design and Build contract compel the contractor to basically under-design the edifice every bit far as possible devising failures within the edifice an increased likeliness. As a consequence, there is frequently a demand for judicial proceeding to specify whether the economic system of the undertaking surpasses the expected degree of professional duty at the clip of design and building. Therefore in order to protect their edifice, the client should seek to obtain a guarantee that guarantees the completed edifice is suited for its intended intent, irrespective of defects incurred by the contractor. In the populace sector, Design and Build contracts are normally awarded on subjective standards such as value, experience and making. The public sector in peculiar has developed contractor rating and choice policies that try to extenuate against the hazard of such subjective judgements. In many instances this is achieved by presenting contracts based on a point-scoring system with the highest scorer being appointed. However, this discretionary points system implemented by public directors offers small objectiveness in finding the equal point allotment for single elements of the proposed strategy. For case, there is barely any manner to make up one's mind whether one contractor ‘s foundation system warrants 20 points or a different contractor ‘s warrants 22, it is wholly subjective. Besides the standards used for taging by and large do non associate to the specific edifice type, hence analyzing a contractor ‘s makings and experience nowadayss a step of competency but does non vouch a successful undertaking result. There is besides trouble in moderately comparing alternate design proposals in an attempt to find which represents the best value. For illustration, some contractors may offer higher quality plumbing whilst others offer better electrical systems. Therefore it is impossible to pull sensible decisions from dissimilar commands in footings of which proposal offers best value. Often, value can merely be determined after the edifice has been completed. In decision, public proprietors look for procurance systems that meet the demands of the public whilst extenuating against legal jobs and cut downing administrative load. The public-sector has favoured the Design and Build attack as the client can vouch a entire fixed undertaking cost early in the procedure and the edifice can be constructed in a shorter time-period with more efficiency than other procurement systems. The contract type besides allows an geographic expedition of new solutions through an unfastened duologue between designer and contractor, in which the populace benefit from the invention and lower costs. As a consequence, the public-sector ‘s engagement with Design and Build has increased over recent old ages. Basically, the public requires its building undertakings to be lasting, environmental, functional and most significantly, tantrum for intent. At the same clip, it expects the authorities funded undertakings to stand for good value and be economic in nature. Therefore, the populace itself has small engagement or involvement in which procurance system is utilized, nevertheless, they expect each undertaking to carry through its declared demands within its allocated budget. It is the position of the public-sector, that Design and Build is the system best equipped to run into the populace ‘s outlooks and supply the most crystalline value for undertakings that are finally funded by the tax-payer.BibliographyLupton S. ‘Architects ‘ Job Book. ‘ ( RIBA Enterprises 7th erectile dysfunction. )Chappell D & A ; Wills A. ‘The Architect in Practice. ‘ ( Blackwell Publishing 10th erectile dysfunction. )ARB. ‘Architects Code: Standards of Conduct and Practice . ‘ ( November 2002 )hypertext transfer protocol: //en.wikipedia.org/wiki/Design_and_Buildhypertext transfer protocol: //www.lao.ca.gov/2005/design_build/design_build_020305.htm

Cultural Diversity in the Media Essay

The term drugs refer to anything, which is not prepared by organisms and is generally considered that drugs are not part of food we eat. Although drugs also refer to Medical ailments (pills, syrups, capsules etc) but here we are discussing recreational drugs which are: LSD, Shrooms, Alcohol, Caffeine, Catnip, Salvia, Cocaine, Crack, DXM, Ecstasy, Ephedrine, Heroin, Inhalants, GHB, Tobacco, Cannabis, Methamphetamine, Milk (artificially prepared), Peyote, Nutmeg, Oxycontin, Ketamine, Whiteboard Markers and so on. Drugs have its uses and abuses. But mostly, its uses are almost negligible when one starts introspection of the conditions of society caused by the abuses of Drugs. Societies are damaging because of evils of the alarming increase in the intake of drugs all over the world, which is followed by the increase in crime and decrease in national income. It has been surveyed that people portray abnormal, illegal and ruthless behaviors after intake of drugs. Alcohols being widely available in societies of west provide easy hand in the provision of drugs. In America alone, every third child is said to be tainted by the drugs. All teens see some type of drug use or abuse in school or in the media. â€Å"The nineteenth-century explosion of drug use had gotten out of hand. Wiliam Halsted invented nerve-block anesthesia with cocaine (1885) but developed such a craving for the drug that his friends had to put him aboard a schooner for several months so he could kick the habit. He did, but became addicted to morphine from the ship’s supplies. It was long a closely guarded secret at Johns Hopkins University that one of the institution’s founders was a junkie. Halsted’s student, James Leonard Corning, invented spinal anesthesia with cocaine. Every family has a vicious drunkard dad or uncle on the loose; mournful mamas swigged patent medicines by the gallon; kids raised on heroin cough syrup graduated to coca-filled soft drinks. † Increasing display of drugs as element of â€Å"Being cool†, â€Å"Easy money†, â€Å"Failure in love†, â€Å"Family problems†, â€Å"Peer Pressures† and â€Å"Complexes†, in movies is grasping the attraction of teens and young adults. â€Å"An estimated 66. 5 million Americans 12 years or older reported current use of a tobacco product in 2001. This number represents 29. 5 percent of the population. Youth cigarette use in 2001 was slightly below the rate for 2000, continuing a downward trend since 1999. † Rates of youth cigarette use were 14. 9 percent in 1999, 13. 4 percent in 2000, and 13. 0 percent in 2001. The annual number of new daily smokers age 12 to 17 decreased from 1. 1 million in 1997 to 747,000 in 2000. This translates into a reduction from 3,000 to 2,000 in the number of new youth smokers per day. † Some of the most important movies to display drugs as an inspiration for live life, business and culture are given with their detail account of criticism and background. 1. The Blow The Blow was released in 2001 was based on a true story. The story of George Jung, the man who established the American cocaine market in the 1970’s. It was directed by Ted Demme. The screenplay is by Nick Cassavetes and David McKenna. It is story of young man of middle class family struggling for a better place in society, which unfortunately do not turn out be very fruitful for the fate of the family. George then moved to California, where he starts his own business in which he finds both success and imprisonment. In prison, he meets a cellmate who introduces him into a partnership to the lucrative new market in cocaine. When George Jung released from jail he quickly becomes instrumental in establishing the exploding US market for cocaine in which he claimed that he handled about 85% of the supply in the 1970’s. Although it was a movie that could be presented as a masterpiece for the awareness of the society, the movie missed its attempt. The death of the hero was tragic but his appearance in the movie appealed the young generation to a great extent. â€Å"Blow outlines the lifestyle of a mega-rich smuggler — the border crossings, the ruthless negotiations, the sudden betrayals, the wild characters, the run-ins with the justice system, the inherent problems in dealing with massive amounts of cash, the temptations — and, ultimately, the tragedy of blowing all of your dreams for greed. † 2. Trainspotting This Academy Award nominated movies was produced in 1996. Denny boyle directed it. This movie was based on a novel â€Å"Trainspotting† by Irvine Welsh. The screenplay was adapted from Welsh’s novel by John Hodge. This movie begins with the narration by Renton, who is a rent boy, he tell others that they should choose to live traditional family life. After his narration he tells that his train of thoughts ends with â€Å"who needs reason when you’ve got heroin? † all of his friend were addicted to drugs. The movie rotates all about dirty drugs business and its dealings. The movies most critical part is when Renton leaves drug addiction he feels no purpose of life. He then also deals in selling the heroin. Later Renton realizes that his friends are no his friends at all and leave them for a better life. â€Å"Its release sparked controversy in some countries, including the United Kingdom, Australia and the United States, as to whether it promoted drug use or not. U. S. Senator, Bob Dole, decried its moral depravity and glorification of drug use during the 1996 U. S. presidential campaign, although he admitted that he had not actually seen the film. † 3. The basket ball diaries This movie was produced in 1995 and was directed by Scott Kalvert. It was written by Brian Goluboff. The movie is an autobiographical account of poet and rock musician Jim Carroll. The running time of movie was 105 minutes. As a member of an outwardly invincible high school basketball squad, Jim’s life centers around the basketball court and the court becomes an allegory for the world in his mind. It was biggest dream of Jim to become Star of basketball. He was Catholic high school student but later become drug addict due to bad company. Jim and his friends roam the streets of New York City as trivial thieves and revolts. Soon school expelled the Jim for he took drugs before game. Later Jim faces more trouble when his family throws him. This movie is a critical for most of its scene describing, â€Å"A youth (a mere school boy of age 13) is enjoying the drugs† and hence portrayed that it is not very offensive of a young boy or girl to take drugs in that age specially. â€Å"This movie contained incredibly dark and vulgar guided imagery which could quite possibly lead the impressionable into moral and value modification, poor coping skills, and dangerous decision-making. † 4. Fear and Loathing in Las Vegas The movie Fear and Loating in Las Vegas was released on May 22, 1998. It was directed by Terry Gilliam. This film was based on Hunter S. Thompson’s 1971 novel Fear and Loathing In Las Vegas: A Savage Journey to the Heart of the American Dream. Journalist Raoul Duke and attorney Dr. Gonzo travel from Los Angeles, California to Las Vegas, Nevada in 1971 to cover a motorcycle race for a sports magazine and enjoy a haphazardly planned vacation. Fueled by the massive amount of drugs they purchased with an advance from a magazine to cover a sporting event in Vegas; they set out in the Red Shark. Wreak havoc upon the citizens of Las Vegas. Encountering police, reporters, gamblers, racers, and hitchhikers; they search for some indefinable thing know only as the â€Å"American Dream† and find fear, loathing and hilarious adventures into the dementia of the modern American West. The movie is filled with violence and drugs series. It effected the audience to en extent that even an incident got attached to it. During shooting Gilliam was approached by a group of young men, one of which complimented him on the film in general, but said that his favorite scene was the andrenichrome scene. He said that he had used the drug and that Gilliam had captured the effects perfectly. Gilliam didn’t have the heart to tell the kid that it was made up, and went along with his story. 5. Dazed and confused Dazed and confused is a 1993 American film written and directed by Richard Linklater. The movie tells the stories of the last day of school in May 1976 in a Texas suburb. As the movie begins, the last day of school at a high school is beginning. The last day at Robert E. Lee High School proceeds with regular classes but the soon-to-be-senior class (Class of 1977) is more interested in getting ready for the annual hazing of the incoming freshman class, which will take place after school. The hazing is depicted as a ritualized event that has the support of the town, in the movie. Randall Pink Floyd was a football player who moves with simplistic grace among groups of greasers, nerds, stoners, and athletes alike. The coaches introduced a new policy for the upcoming 1976-77 school year in which athletes have to sign a written pledge that they will not use alcohol or illegal drugs. Pink refuses to sign the pledge sheet. The coach berates Randall Floyd for hanging out with â€Å"that other crowd† (referring to his stoner friends) and Floyd takes offense to it. â€Å"The movie conspicuously shows the much more relaxed attitudes toward both teenage alcohol consumption and driving with open beer containers at the time; Kramer can easily buy beer as the lawful Texas drinking age at the time was 18 and even that was lightly enforced. † References 1. http://www. thc-ministry. net/history-of-drugs. html 2. http://www. getsomeblow. com/index2. html 3. http://parentingteens. about. com/cs/drugsofabuse/a/druguse10_2. htm 4. http://en. wikipedia. org/wiki/Trainspotting_(film) 5. ChildCare Action Project: Christian Analysis of American Culture (CAP) by Thomas A. Carder http://www. capalert. com/capreports/basketballdiaries/basketballdiaries. htm 6. http://en. wikipedia. org/wiki/Fear_and_Loathing_in_Las_Vegas_%28film%29 7. http://en. wikipedia. org/wiki/Dazed_and_Confused_(film)

Has Realism got the big things right Essay Example | Topics and Well Written Essays - 2750 words

Has Realism got the big things right - Essay Example In relation to international politics or international relations (IR), realists are of views that states are the main actors reflecting the actions of the world. The states are meant to be sovereign actors thus meaning that there would be no other actor or regulator above the decisions of the states. All other organizations are hence supposed to follow the rules and regulations set by the individual states. The activities of different states lead to inter-state relations. According to realism, the nature of humans tends to be selfish and thus when the concept of international politics is concerned, it represents a struggle between the different states, each trying to make the most of their own interests Realism in relation to politics reflects the study and practice of international politics. Generally it discusses on the roles of the different states in a nation. It also assumes and makes statements on the states being concerned with their national interests and hence are carried away by these interests towards their individual actions. Thus according to realism, all states are concerned about their individual status in the world politics as well as their territorial reliability. Besides these, according to realists, the interests of the states may vary depending on their needs and circumstances. As far as neorealism and classical realism is concerned, there are certain differences between the two concepts. While classical realists are of the view that the reasons for international conflicts and wars are the imperfect behaviors and nature of the societies or the individual states, on the other hand, the neorealists have their belief in the anarchic system of international relations. According to the belief of classical realists, the state is considered to be more advanced against the entire system, while the neorealists believe that agencies hold greater space in the system than the states. Neorealists are of the view that the individual states act as unitary actors, on the other hand, classical realists make a distinction between powers of the status-quo and revisionist powers. Another difference between the neorealists and classical realists is that neo-realists make efforts to put up a more thorough and methodical advancement to the study of international relations, profou ndly predisposed by the â€Å"behaviourist revolution of the 1960’s while classical realism confine its analyses to subjective valuations of international relations† (Pashakhanlou, 2009). Realism and International Relations: Considering the relation of realism and international relations, there are four fundamental assumptions that realists have made for the international relations. Firstly, they assume that â€Å"the state is the most important actor in international relations† (Realism, n.d.). This reflects that the most important role in these states is that of the individual governments,

Leader of Influence Term Paper Example | Topics and Well Written Essays - 1250 words

Leader of Influence - Term Paper Example He is commended for his fight for the independence of the people of India as a nationalist, theorist as well as an organizer. His outstanding achievements as a leader of the Indians amount to the legacy that he enjoys today. From his leadership, leaders in preparation have many lessons to learn including boldness, being the voice of the weak and humility. The purpose of this essay is to analyze the leadership of Mahatma Gandhi and to show this is relevant for us as contemporary leaders. Being tactful and brave is an important character for any leader who wants to improve the welfare of his society. In many incidences, Mahatma Gandhi showed his bravery in representing the voice of the Indian people who had previously suffered under very harsh regimes. In his journey as leader, he began by serving as the voice of the Indians in South Africa, where he represented the rights of his people (Shafiulla, 2012). In a region where the Indians were seen as the minority, it required bravery and wisdom to air out the voice of the people and be heard by the country. Another incidence where Gandhi stood out as a brave leader is during the war for independence in India. After Gandhi returned to India in 1915, he became a member of the Indian National Congress only to be the chair of the congress in 1920 (Wolpert, 2001). During this time, India was colonized by the British government, a regime when the Indians suffered from oppression of their colonizers. In 1930s, Gandhi started t he journey of liberating the people of India. The congress declared independence for the country, and tactfully Gandhi led the people into negotiations for independence. This points out to his wisdom in using a peaceful process in achieving independence. When the negotiation process failed, Gandhi fearlessly demanded immediate liberation of his people, a response that received a lot of harshness from the British government (Deats, 2005). Ultimately, Gandhi was jailed together with other

Anthropology. Evolution Assignment Example | Topics and Well Written Essays - 750 words

Anthropology. Evolution - Assignment Example The holistic foundation provided by it and distinct characteristics of every culture makes it distinguishing criteria and allow other fields of anthropology to revolve around it. A critical analysis of all these subfields helps in understanding that these areas provide an individual account of human history belonging to same era. Where cultural anthropology provides a comparative analysis of cultures all around the globe, physical/ biological anthropology provides details of evolution that this culture and its followers have shown over the period of time. Similarly, evolution of linguistics is considered as an important tool of examining changes in culture as language is a distinct characteristic of every human society. On the other hand, archeology refers to examination of past and present cultures and their physical remains. All these fields when tied together provide a detailed yet multidimensional account of one particular era of human history. Another major tying element is the disciplinary holism of anthropology (Harris, 1997). This method allows anthropologists to question why all these subfields are tied together in anthropology. This inter-relational nature of anthropology asserts that this study is a system-oriented phenomenon. Therefore, changes in one part of the society helps in examining changes the other parts went through. Examining a relationship between environment and humans helps in understanding the changes culture went through over the period of time and its related consequences on other dimensions of anthropology. Question 2 There are various types of evidences that support the phenomenon of evolution that living beings have experienced over the course of time. Some of these evidences include biogeography, functional morphology, paleontology, comparative embryology, animal and plant breeding and other molecular evidences (University of Arizona, 1996). These evidences can be categorized into direct observation, homology, vestigial traits a nd compensatory design, and fossil fuel records accordingly (Coyne, 2009). Evidences obtained through biogeography were based on examination of fossil remains which indicated that organisms present in isolated areas bear nearly same characteristics as those present in the mainland. On the other hand, functional morphology was based on evidences derived through examination of vestigial organs. Despite non-functional nature of these organs, there are various species that contain vestigial organs like pelvic bones in whales and tailbones in humans. Fossils also provide a detailed account of morphology. They contain records of simple structures that have shown evolution over the period of time and have developed into complex structures with different transitional forms. Comparative embryology helps in examining similar traits in embryos of different species at early stages (University of Arizona, 1996). This notion supports the idea of homology in different species. Such homology can al so be supported through genetic evidences and similar construction of body parts in different species which further helps in identifying their common ancestors. As far as examination of animal and plant breeding is concerned, it supports the phenomenon of artificial selection that lead to differentiation between domesticated and wild living beings. Simple example of this concept can be domestic breeds of dogs, cats and pigeons that have common ancestors as the wild animals however they bear various distinct physical and behavioral characteristics. Question 3 There are various evidences that indicate humans being a typical primate. A primate is expected to have distinct characters that distinguish it from other

Communication Essay Example | Topics and Well Written Essays - 1500 words - 3

Communication - Essay Example Interpersonal communication entails the process of using feelings, ideas, and thoughts to initiate and develop relationships with other members of the society. Initiating and developing relationships follow three systematic stages. The first stage involves understanding another person’s situation. This enables us to understand the context and perspective from which the other person is speaking. The next step involves responding to the message in an appropriate manner. This entails employing the right tone and emotional expression based on the understanding of the person communicating (Wood 72). After communicating the response in the right manner, the respondent should be able to achieve the objective of communicating. This entails the establishment of a common understanding between the subject parties. Good interpersonal communication skills help in conflict resolution contexts. Interpersonal conflicts arise when people reaches a disagreement over their convictions, beliefs, ideas and desires. Interpersonal conflict can present serious consequences to the parties involved. Therefore, the best solution on resolving a conflict is by employing effective interpersonal communication skills. In reality, conflict leads to emotional stress, hurting feelings and situational disappointments. When any conflict is handled in an unhealthy way, it might result in irreparable damages in social relationships. Therefore, the best method of resolving any conflict is applying some ethical principles while striving to reach a compromise. One of the essential ethical elements during conflict resolution is empathy. Empathy entails putting oneself into another person’s shoes. Thought empathy allows one to understand what another person is saying. Feeling empathy allows someone to acknowledge how another person feels. Therefore, empathy facilitates healthy communication when resolving a conflict. The other ethical element is exploration. Exploration allows one to enquir e thoroughly on the other person’s thoughts and feelings. Stroking is also essential during conflict cases. Stroking involves complimenting the person by making respectful and positive opinions about him/her. To resolve a conflict successfully, I align myself to these three ethical aspects, which are empathy, exploration, and stroking. The definition of gender roles and other aspects associated with gender and society depends on an individual’s social background. The beliefs and convictions held by an individual concerning the social roles expected from different genders influences social relationships to a substantial extent. On my part, I expect females to be submissive, and accommodative to different ideas and situations. The other factor that may affect my communication is ethnicity. Ethnicity brings about prejudice and discrimination within the society. Discrimination entails behaviors directed towards people from a different ethnic background while prejudice invo lves holding irrational and inflexible attitudes towards members of another ethnic group. Prejudice influences communication whereby negative prejudice results in discrimination. Therefore, ethnicity might affect my judgments and decisions during communication in a positive or a negative way. The other factor than influences communication is culture. Culture is comprised of behaviors, beliefs and other social characteristics that define a particular social group. Though people would like to define themselves individually, the society conforms an individual to some set standards of beliefs, values and behavioral norms. These inbred cultural principles in an individual influence his/her relationship with people within a culturally diverse environment. As a

In what ways does an understanding of history and changing Essay

In what ways does an understanding of history and changing museological ideas help to explain the foundation and early development the British Museum and The National Gallery - Essay Example hosts princely art collections, the British Museum and the National Gallery offer phenomenal cultural industries that form the pride and identity of the people of the United Kingdom. Given that museums reflect cultural ideologies, these institutions have undergone changes that to some amounts to distortion of what should have been held so dear, and to others, the changes have resulted in better safekeeping avenues for the kind of artifacts that they harbour. In order to have rationally informed understanding of contextual relevance of these two iconic institutions, an in depth analysis of the impacts of history and changing museological ideas have had on them is necessary. The British Museum owes its inception to the will and determination of Sir Hans Sloane, a physician, naturalist and collector, whose ambition of seeing his collections preserved, according to Edwards (2011), formed the basis for the foundation of the museum. The initial collections of this museum consisted of manuscripts, books and natural specimens. In addition, other relics such as coins, medals, paintings and drawings were also available among the collections. Housed at Montagu House, it became accessible to the public in 1759, majorly drawing attention from curious individuals, and entry was free to all persons. During the period covering the 19th century, the museum received enormous expansion, both in space and in the array of collections, with such artifacts as ethnological and archeological materials from Europe and as far as Syria being incorporated. To this present moment, the museum has continually expanded its antiquities and currently includes artifacts from all round t he world, from Chinese ceramics to Egyptian Tomb-Chapel of Nebamun. Currently, the museum is looking forward to building the World Contemporary Exhibition Centre that will offer an additional temporary display space (The British Museum, 2015). On the other hand, The National Gallery came into existence when the

Choose one country explain negative and positive aspects of Essay

Choose one country explain negative and positive aspects of globalisation on that country - Essay Example The fruits of globalization are very sweet for countries like United States however; the process of globalization renders certain negative impacts for United States as well. Globalization is the increased integration and engagement of countries across the world. Globalization is the phenomenon that depicts an on-going procedure that is linking and integrating the national economies, regional societies, different cultures, and people by an enormous and extensive mode of global communication and implementation (Bhagwati, pp. 11-13, 2004). The term globalization usually implies to the globalization of different economical countries. Economical globalization is a phenomenon where national or regional economies of different countries across the globe links together and desegregate into an international economy through various factors like international trade, investment abroad, monetary flows, migrating to other countries, effective communication, and technological advancement. The process of globalization as determined by its factors seems like an inevitable and unbeatable procession. However, the process of globalization has its own advantages and merits, and disadvantages and demerits. The benefits attained by the process of globalization for United States includes lesser trade limitations and constraints, and lowered regional restrictions in order to integrate with the economies of rest of the world. This phenomenon gives rise to the concept of international market, where the fruits are inevitable for developed countries like United States. The lesser limitations and barriers for international trade render the opportunity to open up trade markets around the world those results in increased trade of the country. This in turn, results in economical development caused by the functioning of international trade markets throughout the world (Bhagwati, pp. 14, 2004). Another benefit of the globalization is the increased capability of

HRM and Culture Research Paper Example | Topics and Well Written Essays - 2000 words

HRM and Culture - Research Paper Example The issue of gender balance at the corporate level is still problematic and one that reflects the social dynamics that surround corporate or market environment. As one tends towards mature democracies, gains that have been made in this effort become more palpable. The reverse is also true with maturing democracies and developing economies such as South Korea. In South Korea, corporate gender balance has been still hard to come by, with very little progress having been made as late as 2005. In South Korea, leading organisations that excel in key sectors such as the telecommunication industry still have corporate leaders who fallaciously think that extending women employment opportunities can undercut organisational development. While this untrue standpoint may simply be dismissed as a sexist myth, the gravity of this standpoint is that it denies the corporate life, collective approach and plurality of views, and thereby subjecting an economy that practices it to underperformance. This may be seen in South Korea and the life and practices of leading organisations therein, such as SK Holdings. ... It is possible that this bias towards women in the recruitment of personnel was not so much caused by unequal gender business strategies than the society’s gender bias. Because of the society’s gender bias towards women, SK’s might have imperceptibly maintained the culture of hiring more men than women. Conversely, it is also possible that SK’s HRM practice (of not hiring women) may have been deliberate and can therefore be regarded as part of the company’s organisational or business strategy. This may be the case, since in the details preceding the case, one of the senior managers of SK Holdings had confessed of having eschewed employing women simply because he believed that women lacked tenacity. He divulged on his belief to the effect that when deadlines are tight and many people are thus required to work overtime, women may not be as reliable as men. It is therefore plausible that SK’s HRM practice of sticking to men may have been a delib erate business strategy, as an artifice to keep organisational production optimal and to meet strict deadlines. 2. How Hiring More Women and Promoting Them Could Improve the Competitive Advantage of This Company A myriad of competitive advantages characterises the hiring and promotion of women. One of the advantages that come with the recruitment and promotion of women has to do with the entrenchment of plurality of ideas in the company’s efforts. It is a fact that women and men think and see things from different perspectives and angles. This means that incorporating women into SK’s workforce is bound to help the organisation come up with more efficient and strategic policies and frameworks. This is well seen in the case of

The Road#2 Essay Example | Topics and Well Written Essays - 500 words

The Road#2 - Essay Example These readers view the road taken by many as leading perhaps to failure or does not yield anything good. The idea that it leads into the woods shows that there is always uncertainty and risk in choosing the untypical way. It is a readiness to meet and overcome challenges along the way. There is a spirit of hope doing things differently from others or where they have not done well will bring a positive change. Because there are two roads to choose from and one has to confidently choose one and for that matter the one is not taken shows courage. It is a decision made no matter the outcome. The last stanza talks of telling with a sigh perhaps of the outcome of the journey. This is after a long time because it talks of ages and ages. Taking the road less travelled and making the difference that the persona talks about could mean success. The fact that they have persevered to the end is seen to have borne fruit. In the beginning, the future looks bleak riddled with untold expectations. Th e images of the woods and the undergrowth could symbolize the troubles that lay ahead. They paint a picture of insecurity because woods pose dangers like wild animals, bad weather, and rough terrain among others which symbolize problems that human beings encounter in normal lives. There is another group who read this poem from a pessimistic approach. For them, it is about a person who has facing difficulties of choice and throwing himself/herself on mercy of destiny. The presentation of two roads with only one to be chosen paints an image of confusion and hesitation. The idea that one has to make a choice about the best one to use offers enough challenge to such a person. Again, the woods paint a grim picture of what to expect. It has the potential of many dangers ahead that one may be unable to overcome. The road is seen to take a corner deep into the woods. The undergrowth is seen to offer challenges, for a person cannot see what lies

College Costs How Much Essay Example for Free

College Costs How Much Essay Growing up, students were taught to get a higher education in order to make a comfortable living for them and their families. Now, those college graduates are crippled with large amounts of debilitating student loans and are unable to start a family of their own. According to the credit bureau TransUnion, the average student loan debt carried by each borrower has risen 30% to $23,829 in the past five years. These graduates should be stimulating the economy by buying cars and houses, but instead they are sending their paychecks to the bank to pay back their enormous loans. The aggregated amount of student debt has soared over the past several years due to so many people deciding to go back to college after being laid off from their jobs, a rapid rise in college tuition, and schools that give out worthless degrees. The New York Times states that in the 1970s, the median wage was 40% higher for college graduates than for those with just a high school diploma; today, the wage premium has risen to about 80%. Although there are options to get a degree quickly, it is not always the best idea. It is concerning that some schools promise a degree in less time, yet charge the same amount as a four year university. The Art Institute is one of the biggest offenders. They offer a three year culinary program that costs close to $100,000 while the graduates only average about $12 per hour after graduation. It is impossible to pay back those types of loans with basically a minimum wage job. Also, possible employers would much rather hire someone who has been studying the subject for four to six years rather than just a few months, so it can be very challenging for those students to find a job. The fact that our country’s student loan debt is currently valued at $1 trillion dollars, while the cost of tuition is rapidly increasing, is the most concerning effect of this crisis. Today, about half of college graduates are either underemployed or do not have a job at all. The tide is not going to turn until the job market improves. One of the problems in the job market is that jobs are not opening up as quickly as they should because people are pushing back retirement to help pay for their children’s loans. Students fresh out of college are putting off getting married and starting families because they do not have the secure job future they were promised would come with their college degree. Families have also decreased in size because parents are not able to afford as many children. Public schools are overflowing with students because the alternative private schools are just too expensive. This debilitating debt could cause the millennials, people aged 18 to 34, to be one of the first generations in America to not make a better living than their parents did. It is not ethical to force such a large amount of debt on an 18-year-old who has never even had a credit card before. Too many schools use students as pawns to make thousands of dollars than actually helping them succeed and become a member of a functioning society. The student loan debt problem is going to continue to rise dramatically unless we stop the problem where it started- the greedy universities and â€Å"for-profit† schools. Our government needs to make laws and restrictions based on how much a school can charge for tuition. Because filing for bankruptcy with student loans is impossible, the schools continue to raise the cost of tuition knowing that they will most likely get their money in the end. Now, we have schools charging ridiculous amounts for a mediocre degree while the average graduate makes about $12 an hour. There is no way in the world that graduate would be able to pay off those gargantuan student loans without having more than one job. Tuition should be a percentage of the average income of an employer with that degree so that it is possible to pay back in a reasonable amount of time. If schools went back to offering a great education for an affordable price our country would have a much easier time fixing our limping economy.

Copper Ion Effects On Mung Beans Germination Environmental Sciences Essay

Copper Ion Effects On Mung Beans Germination Environmental Sciences Essay This experiment was planned to investigate the effect of different concentrations on copper ion on seed germination of mung beans. The experiment uses seed germination as a parameter in the presence of varying concentration of copper ion solution (Cu2+) in copper (ii) sulphate (CuSO4). Solutions used were 300 ppm, 200 ppm, 100 ppm, 75 ppm, 50 ppm, 25 ppm, and 0 ppm and the seeds were all soaked for 6 hours, and then sown on Petri dishes with a wetted cotton layer. The seeds were watered with the same volume of Cu2+ solution of respective concentrations. The numbers of seeds germinated were recorded after 20 hours, and the germination rate was calculated. Results showed that germination rate increases as concentration decreases. An analysis was done using the Pearson product-moment correlation coefficient (PMCC), and it showed a statistically significant negative linear relationship between concentration of Cu and germination rate as the calculated r-value was greater than critical va lue (Cr) at 5% significant level. Research and Rationale Plants as micronutrients require a number of heavy metals, which are found naturally in soil.13 However, the global buildup of metals in the environment is increasingly becoming a problem.1 Toxic metals continue polluting the biosphere by volcanoes, natural weathering of rocks, and by industrial activities such as combustion of fossil fuels and mining.2 Heavy metal pollution has accelerated since the beginning of the industrial revolution. Copper (Cu) is one of the main metal pollutants, and usually results from human activities such as mining and the use of fertilizers.4 Cu is an essential element needed in trace amounts in plants, about 4-30 ppm of the approximate dry weight in plants (Raven and Johnson 1999), associated with enzyme activity which catalyses the oxidative reactions in various metabolic pathways.(4) An excess causes a reduce in germination, growth, respiration, photosynthesis and also causes severe membrane decomposition.4 It becomes toxic as it interferes with the enzyme activity, acting as a non-competitive inhibitor, destructing the tertiary bonds in some enzymes, thus altering and inhibiting enzyme activity.4 Human life becomes at risk once these plants develop tolerance mechanisms against Cu, and when these plants are incorporated into our food chain.(2) Mung bean is part of the human food chain as it is a favourite ingredient in Asian food.5 It is commercially grown in many regions of Asia. An ability of it to become Cu tolerant would pose a high risk on human health due to Cu accumulation in the body.2 This investigation also serves to show the type of soils suitable for mung bean growth in agriculture. Soils contaminated by copper or near industries are deemed unsuitable. The seed- Vigna radiata, commonly known as mung beans was chosen as it has a short life cycle and is small, thus large numbers of the seeds can be used as not much space is taken. (487 Words) Germination rate, which is usually expressed in percentage, shows the number of seeds that is likely to germinate; based on a particular plant species.6 Germination is one of the most critical stages of development in a plants life cycle. It is at this stage where the plants are more susceptible to injuries, water stress or diseases. 7 Experimental Hypothesis The lower the concentration of Cu2+ in the solution, the greater the germination rate of mung beans. Null Hypothesis There is no correlation between the different concentrations of Cu2+ in the solution and the germination rate of mung beans. Variables: Manipulated variable : Different concentrations of Cu2+ from Cuso4. (ppm) Responding variable : Germination rate of mung beans (%) Fixed variables : Mass of Cuso4 (g) Volume of solution used for soaking (30 ml/beaker) and for moistening the cotton (50 ml/petri dish) Temperature Light Intensity Humidity (632 Words) Apparatus: Petri dishes Label stickers Weighing balance Dropper Beakers (600 ml) Volumetric flask (1000 ml) Measuring cylinders (100 ml, and 500 ml) Pipette Schott bottles Materials: 3.937g of Cuso4 Distilled water Mung bean seeds (A) Cotton Planning Number of seeds used: 15 The first trial was to determine the condition needed for germination. Three different conditions were identified- in the dark (inside a cupboard), normal laboratory conditions, and outside the laboratory (under normal environment). The seeds were soaked for an hour in distilled water and then sown on wetted cotton. For each condition, three replicates were prepared. The results were observed after 20 hours. (736 Words) Conditions Number of seeds Germinated Mean Number of Seeds Germinated Replicate 1 Replicate 2 Replicate 3 Laboratory 6 9 8 8 In the Cupboard 8 14 11 11 Garden 6 9 5 7 Table 1: Germination rate of seeds in different conditions Germination rate= Number of seeds germinated/Total number of seeds 100 The results showed that the seeds grown in the dark had the highest germination rate. This is in line with what has been written about the germination of mung beans in websites stating that mung beans germinate in darkness.5 Therefore, it was decided that further germination of the seeds would be carried out in the dark under room temperature of 25Â °C in the mornings and 22Â °C during night. The second trial was a combination to find out the most suitable duration to soak the seeds and the best concentrations needed to carry out the experiment. For starters, the concentrations decided were a range from 1000 parts per million (ppm), 750 ppm, 50 ppm, 250 ppm, 100 ppm and 0 ppm (distilled water). The stock solution of 1000 ppm was prepared by the following method. (929 Words) To make 1000 ppm of Cu using CuSo4.5H2o Molar Mass of CuSo4.5H2o= 249.5g Atomic weight of Cu=63.5g 1g of Cu in relation to molar mass of salt= 249.5/63.5 = 3.931g Hence, 3.931g is weighed out from CuSo4.5H2o and dissolved in 1000ml of distilled water to make a standard solution of 1000ppm of Cu.8 From the stock solution, the serial dilution method was applied to make a concentration of 750 ppm. From 1000 ml of the stock solution, 750 ml of the solution was diluted in 250 ml of distilled water in a volumetric flask, to make up 1000 ml of 750 ppm solution of Cu. To make up 500 ppm solution, 500 ml of stock solution was diluted in 500 ml of distilled water and so on. The duration to soak was set to one hour, three hours, six hours and 12 hours. The seeds were soaked in 6 beakers containing the different concentrations, and sown to germinate on Petri dishes. Wetted cotton was used, and the respective concentration of the solution the seeds were soaked in was used to wet the cotton. 15 soaked seeds of similar size were chosen to germinate in two replicates. (1125 Words) Concentration (ppm) Duration of Soaking (Hours) 1 3 6 0 A 10 8 10 B 11 10 10 Mean 11 9 11 Germination Rate (%) 73.3 60.0 73.3 100 A 5 6 13 B 2 2 12 Mean 4 4 13 Germination Rate (%) 26.7 26.7 86.7 250 A 0 5 2 B 0 4 6 Mean 0 5 4 Germination Rate (%) 0 33.3 26.7 500 A 0 0 4 B 0 0 5 Mean 0 0 5 Germination Rate (%) 0 0 33.3 750 A 0 0 0 B 0 0 0 Mean 0 0 2 Germination Rate (%) 0.0 0.0 0.0 1000 A 0 0 0 B 0 0 0 Mean 0 0 0 Germination Rate (%) 0.0 0.0 0.0 Table 2: Germination rate of seeds in different conditions soaked for different durations (1286 Words) Observations were made 20 hours later, and in concentrations of 1000 ppm and 750 ppm, no seeds germinated. 500 ppm was the highest concentration whereby seeds germinated while for 0%, the germination rate was 80%. The seeds that was soaked for six hours showed the highest seed germination rate for the concentrations whereby seeds did germinate. Therefore, it was decided that the best range of concentrations to be used included 0 ppm, and also a value slightly lower than 500 ppm, and the duration of soaking was 6 hours. For seeds soaking in 500 ppm solutions ad above, the seeds appeared slightly purplish, and some even turned black. The seeds germinated at concentration of 500 ppm had its roots stunted with necrotic tips. To ensure the results were more reliable statistically, the number of seeds to be used in the actual experiment was increased to 50 seeds per concentration instead of 15. The actual experiment also included two replicates, using similar methods to obtain more reliable results. The Pearson product-moment correlation coefficient (PMCC) was chosen to analyse the data obtained. Experimental Procedures A stock solution of 1000ppm of Cu2+ was prepared from 3.937g of Cuso4 (as indicated in the trial). The serial dilution method is used to prepare different concentrations of Cu2+ in Cuso4 solution. For example, 10 ml of 1000ppm solution was pipetted out and mixed with 990ml of distilled water in a 1000 ml volumetric flask to obtain a 10ppm solution, and so on. Besides 10 ppm, 25 ppm, 50 ppm, 75 ppm, 100 ppm, 200 ppm, and 300 ppm were prepared and stored in labeled Schott bottles. (1558 Words) At least a 150 seeds were chosen randomly and placed in a beaker to be soaked with a 300 ppm solution (50 ml) for six hours. Two Petri dishes were prepared and labeled A and B. Two layers of white cotton were placed in each Petri dish, spread evenly. The cottons were moistened with 300 ppm solution of the same volume (30 ml). 50 seeds of similar size were chosen and sown in each labeled Petri dish and placed inside the cupboard to germinate. Observation was made 20 hours after sowing. Germination was said to have occurred once the radicle was visibly extended from the surface of the seed for about a minimum of 5mm. The number of seeds germinated was determined, and the mean and the germination rate were calculated. Steps 2 to 8 were repeated for different concentrations- 200 ppm, 100 ppm, 75 ppm, 50 ppm, 25 ppm, and 0 ppm, and all results were recorded in Table 3, a graph was plotted and a PMCC test was used to analyse the data. Risk Assessment All glasswares, such as measuring cylinders and volumetric flask were handled with extra care as they can break easily and may then cause injuries. The soaked seeds were handled with gently as they are very fragile. While using the measuring cylinder, volumetric flask and pipette to measure the amount of solution needed, the eye-level was ensured to be perpendicular with the scale on those apparatus as to prevent parallax error. This was crucial while mixing the stock solution for a little difference may actually affect the percentages of all the other solutions. (1833 Words) Results Concentration (ppm) Number of Seeds Germinated Mean Number of Seeds Germinated Germination Rate (%) A B 0 49 50 50 100 25 46 48 47 94 50 44 45 45 90 75 40 38 39 78 100 15 13 14 28 200 7 10 9 18 300 7 9 8 16 Table 3: Germination of seeds in different concentrations Calculating germination rate: = = = 78% (1910 Words) Statistical Analysis (1932 Words) The PMCC test was chosen to measure the strength of linear dependence between two variables-concentrations and germination rate. The correlation coefficient, r ranges from +1 to -1. A value of zero indicates no linear correlation between the said variables, while +1 indicates a linear equation explains the relationship between concentration and germination rate perfectly, with all the points from the data lying on a line for which germination rate increases as concentration increases. A value of -1 indicates that all points from the data lie on a line whereby germination rate decreases as concentration increases.9 x 0 25 50 75 100 200 300 ∑X=750 y 100 94 90 78 28 18 16 ∑Y=424 x2 0 625 2500 5625 10000 40000 90000 ∑x2= 148750 y2 10000 8836 8100 6084 784 324 256 ∑y2=34384 yx 0 2350 4500 5850 2800 3600 4800 ∑xy= 23900 SS (x) = = =68392.857 SS (y) = = =8701.714 SS (xy) = = = -21528.571 ( Words) The correlation coefficient, r, is found using the formula: = -0.8825 (negative indicating a negative correlation between variables) r = 0.8825 > 0.754 Cr for 5% confidence level. The analysis using PMCC proved a statistically significant negative linear relationship between the concentrations of Cu2+ in CuSO4 and germination rate, as the calculated r value was larger than Cr at 5% confidence level. Hence, null hypothesis is rejected and experimental hypothesis is accepted. A higher concentration of Cu2+ leads to a lower germination rate of mung beans. Data Analysis The statistical analysis using PMCC proved that low concentration of Cu did result in a greater germination rate of mung beans, as shown in Table 3 too which shows the number of seeds germinated after treatment with respective concentrations of Cu2+ in CuSO4 solutions for 20 hours. The table shows that only a very low concentration of Cu allows germination. Graph 1 illustrates the trend and relationship between the variables. It can be seen clearly that as the concentration of Cu2+ in CuSO4 increases, the rate of germination decreases. Distilled water recorded the highest germination at 100%, while the lowest germination rate was noted when the concentration used was 300 ppm. There is a great difference in germination rate from 75 ppm to 100 ppm, about 50%. Increase the concentration from 25 ppm to 50 ppm and 200 ppm to 300 ppm only showed a decrease in 4% and 2% respectively. This may one of the inconsistencies of the experiment. Distilled water, or 0 ppm acted as a control in this experiment. From the results obtained, all the seeds germinated when soaked in distilled water. From the trials, seeds soaked in distilled water did not germinate more than 80%, however in the actual experiment it was 100%. After much research, I concluded that the results obtained from the actual experiment was valid as it supports the results obtained from various other research published.1, 10 The inconsistencies that occurred may have been due to: Some of the seeds may have been already damaged (trials) and so germination was impossible The cotton layers used in 0 ppm during trials were too thick, and became dry fast, thus made it impossible for the seeds to absorb the water and enable germination in 20 hours. Mixing errors could have occurred causing the drop between 75 ppm and 100 ppm, as the concentrations of the solutions could have been higher than it was suppose to be. ( Words) Evaluation The degree of seed germination in the presence of Cu2+ is to some extent a measure of resistance of mung beans to this toxic metal.11 Germination, is a process said to occur when a dormant seed begins sprouting into a seedling, under the right growing conditions.14 This process is highly dependent on external and internal conditions. Light or darkness, temperature, water and oxygen and considered to be the important external conditions that may affect germination. Imbibition, the process by which water is taken up by the seeds, causes the soaked mung bean seeds to swell and start softening, thus the breaking of the seed coat.11, 6 This makes germination easier. Hydrolytic enzymes are activated (due to water), and these enzymes digest the food source in the seeds into chemicals, that are useful metabolically. 6, 7 Excess Cu is detrimental as it becomes toxic. It interferes with the enzyme activity, acting as a non-competitive inhibitor, destructing the tertiary bonds in some enzymes, thus altering and inhibiting enzyme activity.4 It combines with the thiol groups, breaking the hydrogen bonds and disulphide bridges holding the 3-D shape together (of an enzyme). In order to germinate, amylose is needed, and is metabolized by amylase. The interference of toxic level of Cu causes the inhibition of amylases, thus preventing the food store in the cotyledon to be broken down, depriving the embryo from carbohydrate needed for respiration and production of energy for germination.4 ( Words) There were some limitations in this experiment. The temperature of the surroundings is one of it. It was assumed that the temperature in the cupboard was to be 22 and 25 at night and morning respectively. However, along the day, the temperature could have fluctuated. This could have affected the germination process, as the time taken for germination to occur could have been longer. Besides, the humidity of the surroundings was also not measured and thought to be constant all the time. However, due to changes in weather (rain at night, hot sun in the mornings) during the time of experiment, there could have been changes in relative humidity and temperature too. Some of the seeds may have already been damaged but appeared normal. These seeds could have been sown for germination, thus it can be certain that the seeds that did not germinate were purely due to high toxic Cu levels or not. The use of a large sample had given enough replicates to support the conclusion for this experiment. The results are reliable as the experiment can be controlled and also repeated. This investigation only stressed on the effects of Cu on the germination of mung beans, without subjecting the seeds to different abiotic or biotic pressures. Modification could be made by comparing the, effects of other heavy metals such as Nickel, Cadmium and Lead on the germination of mung beans. Besides investigating the rate of germination only, the length of the radicle can measured (plant growth) to see the effects on growth of mung beans. The growth of plants may show a more visible change due to the toxic metals. Plus, other varieties of seeds such as sunflower, orca or cabbage can be used to test the levels of metal toxicity tolerance on other plants species. ( Words) Conclusion With reference to the results obtained and statistical analysis made, it can be concluded that the lower the concentration of Cu in the solution, the greater the germination rate of mung beans, Vigna radiata. This is because Cu is an enzyme, non-competitive inhibitor which alters and inhibits enzyme activity. Thus experimental hypothesis is accepted, while null hypothesis is rejected. Evaluation of Sources Source 7 and 13 are published books written by well-known authors in the scientific community. The source is reliable as it has been revised, recognized and undergone a series of editing before being published. Sources 1,2,3, 10 and 11 are scientific journals. Scholars wrote it and the journals have been peer-reviewed, and have a high level of scientific creditability. Therefore, these sources should contain valid information. Sources 4,5,6,8,9,12 and 14 are websites. These are sites that have been referral site to by many people and the information in it are also cited, thus it is reliable. ( Words) Appendix Figure The apparatus used to make the stock solution-500ml Measuring Cylinder, 100ml Measuring cylinder, 1000ml volumetric flask ( Words)

Capital Structure And Cost Of Capital For Morrisons Finance Essay

Capital Structure And Cost Of Capital For Morrisons Finance Essay It is very essential in todays modern age to upgrade and promote business in such a way that functioning can take place smoothly. This assignment is about the capital structure and cost of capital for Morrisons PLC. Also in this project an analysis on if I was a project manager and had to design a new project for the company what all stages and things I would have to do; are mentioned. This study is based on facts taken from the company website and annual report of 2009/10. Other information is gathered from educational case studies, website and core textbooks on this topic. Introduction According to www.wisegeek.com  [1]  Corporate  finance  is a broad term that is used to collectively identify the various financial dealings undertaken by a  corporation. In other words we can say that corporate finance is a division within a particular company that deals with financial operations of the company i.e. raising finances for various projects, analysis of various mergers and acquisitions etc. In the present world scenario, one of the most profitable sectors is retailing. Large scale retailers have become very powerful, in some ways even more powerful as companies than manufacturers. The British layman is highly dependent on these retailers like ASDA, Morrisons, Morrisons, Tesco etc so as to buy everyday use products and services. Even these retailers have broadened their scope of activity and have diversified into more than just everyday goods. One such retailer is WM Morrison Supermarkets PLC also referred to as Morrisons. Morrisons was a company started at Bradford market by William Morrison in the year 1899. Today it is termed as the fourth largest chain of supermarkets in the United Kingdom. With almost 124,000 employees working in 403 stores across the nation, Morrisons has an operating income of  £671 million in 2010. The different types of products that Morrisons has to offer are as below:- Groceries Consumer products Fuel and Oil Pharmaceuticals Alcohol and beverages These are the major areas of business for Morrisons but apart from these also certain services are offered at different locations which are store specific. Morrisons has not yet set up base outside the United Kingdom but according to the company website and also the annual reports, the business can be divided into 6 main regions, namely Scotland with 51 stores North UK with 72 stores Midlands with 75 stores South East including Gibraltar at 63 stores South Central with 62 stores South West with 51 stores To discuss on the size of its business relative to its industry we can look at the report prepared by Edward Garner, 2008  [3]  as shown below (certain areas deleted as appropriate):- TOTAL TILL ROLL Great Britain Consumer Spend Includes all expenditure through main store tills and excludes petrol instore concession 12 Weeks to 12 August 2007   12 Weeks to 10 August 2008 change  £000s %  Ã‚   **   Ã‚ £000s %  Ã‚   ** % Total Till Roll   Ã‚  Ã‚   26,615,239   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   27,621,890 3.8   Total Grocers   Ã‚  Ã‚   18,733,701 100.0%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   20,076,033 100.0% 7.2   Ã‚   Total Multiples   Ã‚  Ã‚   17,402,359 92.9%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   18,719,527 93.2% 7.6   Ã‚  Ã‚  Ã‚   Tesco   Ã‚  Ã‚  Ã‚   5,962,922 31.8%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   6,351,531 31.6% 6.5   Ã‚  Ã‚  Ã‚   Asda   Ã‚  Ã‚  Ã‚   3,142,151 16.8%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3,410,431 17.0% 8.5   Ã‚  Ã‚  Ã‚   Morrisonss   Ã‚  Ã‚  Ã‚   3,016,586 16.1%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3,175,543 15.8% 5.3   Ã‚  Ã‚  Ã‚   Sainsbury   Ã‚  Ã‚  Ã‚   2,042,026 10.9%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2,233,137 11.1% 9.4   Ã‚   Total Coops   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   815,208 4.4%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   846,405 4.2% 3.8   Ã‚   Total Independents   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   516,134 2.8%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   510,101 2.5% -1.2      Ã‚  Ã‚  Total Symbols   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   183,349 1.0%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   181,137 0.9% -1.2   Ã‚  Ã‚  Ã‚   Other Independents   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   332,785 1.8%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   328,964 1.6% -1.1   ** = Percentage Share of Total Grocers According to this report we can clearly say that in comparison with other supermarkets, Morrisons is ranked as #4 in this sector. The performance over the last few years can be summed in by the use of a table as shown below: (all figures are in million  £) Year Turnover Profit or loss before tax Profit or loss after tax 2009 14,528 655.0 460.0 2008 12,969 612.0 554.0 2007 12,462 369.0 247.6 2006 12,115 (312.9) (250.3) According to the figures shown in the table above we can say that although 2006 was a tough and bad year for the company, its recovery process was efficient and planned. Through 2007 the company improved methods so as to maximize profits. The entire tenure has shown an increase in turnover for the company but although the turnover in 2009 was at its peak the company failed to achieve a higher profit which might be due to a variety of reasons that will be discussed in the project ahead. Morissons though been facing problems in 2006 2007 they have been winning awards and earning high percentage of profits with the production units of morissons as with special brewing, wines and bakery unit. they also have been The Oracle Retailer of the year 2009,The Oracle Retailer Week Awards, March 2009 Morissons have been pioneering in the retail sector comprising The Own Grocer Label awards, with gold and silver allocades among the retailers wining The Cloudy Apple Juice The Best Toffee Popcorn offering wide range of fresh farm products to freshly prepared breads and confectioneries within the nested units of morissons along with wide range of wine cellars and brewed beers and cafà © outlets within Financial structure The financial structure of a company is known by the balance sheet of the company. In what areas changes are required and in what ways are all known through the balance sheet of the company. For a person to analyze the balance sheet appropriately one must understand the basic concepts of the balance sheet as a financial analyst. After going through the financial report (balance sheet as well as the annual report) for Morrisons, I have come to a point where a conclusion can be made on the financial structure with relevance to turnover and operating profits, capital expenditure, earning per share, tax payable, return to shareholders and dividend cover. All these factors will help to calculate the standing of Morrisons. A brief study is also done on the basis of the return on assets to compare Morrisons with other retailers. Turnover and operating profit 2008/09 2009/10 Changes Turnover  £14528m  £15410m 6.07% Operating profit  £671m  £907m 35.17% Capital expenditure the capital expenditure has increased by  £228m and now is  £906m. This is due to the recent buying of the new co-operative and Somerfield stores at a cost of  £223m and a refurbishment cost of  £102m. Apart from this we can see a fall in the previous made capital expenditure. This is a healthy growth projector. Earnings per share the earnings per share has increased from 17.4pence per share to 22.8 pence per share. This is mainly due to the increase in underlying profits. There have been no other significant factors that would affect the earning per share. Tax payable the tax paid during the year is  £209m. In comparison to the tax paid in the previous year i.e.  £104m there has been a vast increase, this is mainly due to the effective tax rate that was increased and made 30%.This represents 50% of the tax for the year ended 1 February 2009, as well as 50% of the expected tax for the year ended 31 January 2010, and repayments of previous years. Return to shareholders the final dividend paid during the year is 7.1pence which shows an increase of 2.1pence per share in comparison to last year. This makes the entire dividend paid during the year 8.2 pence and the dividend cover 2.5 times. The calculation is as shown below Comparative study According to a study by Biz/Ed  [4]  the following information can be gathered on the return to assets and profit margins. As we can clearly observe in the table underneath, Morrison has the highest return on assets in comparison to any other retailer of food and the profit margin is also comparative higher than any other retailer. Company Return on Assets Profit margin Marks and spencers 4.43% 3.91% Morrisons 5.60% 3.61% Morrison 12.93% 5.87% Tesco 9.99% 5.72% Working Average Cost of Capital An average representing the expected return on all of a companys securities. Each source of capital, such as stocks, bonds, and other debt, is assigned a required rate of return, and then these required rates of return are weighted in proportion to the share each source of capital contributes to the companys capital structure. The resulting rate is what the firm would use as a minimum for evaluating a capital project or investment. According to www.investorwords.com  [5]  . The calculation for this is as shown below. All data is sourced from the annual report of 2009/10:- Current share price =  £277.50 (P1) Previous years share price =  £237.75 (P0) Dividend for previous year = 5.80 (D-1) Dividend for this year = 8.20 (D0) Increase in dividends = 41.37% The formula for calculating the cost of equity is as follows: Re = D1/P0 +G Therefore cost of Equity (Ke) = 10.6/326.25 + 41.37% = 41.40% Cost of debt (Kd) = Interest Paid/Average debt = 260/924 = 28.13% Therefore, WACC = Ke*(proportion of equity) + Kd*(proportion of debt) = 41.40*0.28 + 28.13*0.71 = 11.59+19.97% = 31.56% This shows that the average return that the company must pay to its investors is 31.56 % Project analysis If I were appointed as a project manager for the company, several roles would need to be fulfilled by me. For any new project to be successful the project manager is the key. The focus and aim success depends highly on the manager. The main functions for me in such a case according to Duncan Haughey  [6]  are as follows:- Planning and Defining Scope Activity Planning and Sequencing Resource Planning Developing Schedules Time Estimating Cost Estimating Developing a Budget Managing Risks and Issues Creating Charts and Schedules Risk Analysis Morrisons is a large retail firm which operates and sells almost all consumer goods. The latest expansion plan was too diverse into household furniture. The project being evaluated is the introduction of Morrisons into the furniture segment. The aims of such a project would be to beat Morrisons that has already started into this sector. The final objective of beating the other retailers would almost be fulfilled in such a way. Key determinants Initial Investment In order to conclude the early speculation for mounting into the manufacturing segment a careful research will be required on part of Morrisons. This would occupy looking at a business plan of a medium to large scale furniture producer. It will also involve hiring of an actuary to decide several costs. The recognition of accurate expenses necessary will involve hiring of engineers as well. An in depth study into the accessible furniture industry would be the best source of identifying the primary investment. Annual Revenue The quantity of cost to be incurred can be recognized with logical accuracy, however, annual revenues cannot. This is because of the fact that revenues are based upon demand for the product. Since Morrisons has been always selling furniture its growth in the furniture production will have reasonable sales if the quality is maintained. It can also be seen from the intensity of sales of Morrisonss own range of product labeled Morrisonss Basics. Annual Operating Costs The present level of operations of Morrisons is based upon buying and reselling. This indicates that there is a low level of in service cost. In order to make out the correct level of operating cost an imminent into the financial statements of a furniture company will be mandatory. Additional transport costs will require to be assessed as Morrisons operates in a number of locations of UK. In order to reap the profit of economies of scale Morrisons will have to generate a central production facility. This will add to the set cost and help to reduce the operating costs. Rates of Inflation Rates of price rises straight affect retailers like Morrisons. Specific inflation of raw materials like wood will unfavorably affect the company directly. General inflation will also have an outcome as the price paid by consumers will reap lower value in the future. This has to be accounted for in the project assessment. The sources of inflation will be in print data provided by the government. These will include national financial plan and forecasts. Rates of Taxation/ payment and Relief Rates of taxation are significant elements of capital budgeting as they affect the cash flow. The tax rates are always particular by the government. So there are no problems identifying them. Other than taxes several allowances can be obtained when investing in a fresh project. There are special release programs that promote investors to invest rather than take dividends. Furthermore the fixed equipment bought is also eligible for capital allowance which is a taxation relief. Risk When any project needs to be taken up, an analysis on the risk involved needs to be done. Risk can be known as the possibility of making a loss. If we wish to analyse this in terms of money then, we can use the formulae:- To manage the risk effectively I would carry out the following steps:- Identify threats the risk can be of various types i.e. overshooting costs, interest fluctuations, jobs taking too long etc. Estimate risk using the formulae given above, we can calculate the amount of risk for the proposed project. Managing risk you can manage risk by either utilizing the present assets or by creating new assets. Review testing systems and plans must be used effectively to check on the progress to manage risk. Due to lack of data, the figures that are shown below are fictitious. The assumption that the project will function in the way of the product life cycle. Year 2011 2012 2013 2014 Sales Revenue 1500 2000 2350 2550 Variable cost 620 680 720 860 Contribution 880 1320 1630 1790 Fixed Costs 500 500 500 500 Net Cash Flow 380 820 1130 1290 Taxation 30% 114 246 339 387 After Tax Cash Flow 266 574 791 903 8% Discount Factor 0.926 0.857 0.794 0.735 Present Value 246.31 491.91 628.05 663.70 Assumptions Initial investment is  £3000 Fixed cost is  £500 Variable cost is at 40% of sales Discount factor is 8% Tax rate is fixed at 30%  £ Sum of Present Values 2029.97 Written down Allowance 400.03 PV after 4 years 4000 Less: Initial Investment 3200 Net Present Value 3230 Quarterly report format Following is the table assumed for the year with four quarters considering the assumed forecast for the year 2011 Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budget Actual Budget Actual Budget Actual Budget Actual Sales Revenue Variable cost Contribution Fixed Costs Profit The per quarter report starting for the first month of year for a quarter will be as follows Quarter 1 January February March Budget Actual Budget Actual Budget Actual Sales Revenue Variable cost Contribution Fixed Costs Profit The above comparative statement is for all 4 quarters of the financial year. Each quarter is divided into Budgeted and Actual. The report I would be sending to the directors if I were a manager the report would be in this format because it can be easily understood by the directors. If there is a difference between the budget and the actual amount in the statement then, this can be for a variety of reasons such as interpretation of budgets. If the difference is high then I would have to try and re-modify the budget for the next quarter and try and improve actual figures by all ways possible. References The role of a project manager; Duncan Haughey; 2009 a snapshot of the UK grocery market(2008); Edward Garner; TNS World-Panel http://www.wisegeek.com/what-is-corporate-finance.htm http://www.morrisons.co.uk/Corporate/About-Morrisons/Company-history1/ http://www.bized.co.uk/compfact/ratios/ror12.htm http://www.investorwords.com/5849/WACC.html

The Origin of Dreams Essay -- Sleep Sleeping Psychology Papers

The Origin of Dreams It is late and you are tired. You slide between the soft sheets and tug on the comforter until it reaches your chin. Your head sinks gratefully into the pillow, the smooth folds of pillowcase caressing your cheek. Your heavy eyelids fall closed. Slowly, all the muscles in your body relax. Your body is comfortable and ready for sleep, but your mind remains active. You think over the day’s events, the funny moments, the people you saw, the things you forgot to do. You think about what you will do tomorrow and the next day and next month and so on. Your breathing deepens and your heart rate slows. You realize you are no longer directing the pattern of your thoughts: they are moving off on a path of their own. But you are too tired to care. You drift to the edge of the world of sleep. After about 90 minutes of peaceful inactivity, your brain becomes extremely alert, but you do not awaken. You have entered the period of sleep know as Rapid Eye Movement, where dreams most often occu r. Random, disconnected scenes unfold before you like images on a movie screen. You see your parents waving to you from across a crowded room. You are transported to a large, sunlit meadow, where you are playing with a kitten, your first childhood pet. You can hear the kitten’s quiet purring, and you are filled with sensations of happiness and tranquility. Then you see your own body floating high above the ground, propelling itself effortlessly. You don’t understand these feelings and images, but they all seem to make perfect sense, and you don’t question them. Upon waking, recollection of the previous night’s journey will seem hazy and clouded, if you can remember it at all. This series of events occurs every night i... ...Dreams† http://psych.ucsc.edu/dreams/ Accessed 11/24/02 â€Å"dream† Encyclopedia Britannica http://search.eb.com/eb/article?eu=117531 Accessed 11/24/02 Eccles, John ed. Mind and Brain Washington: Paragon House, 1982 "electroencephalography" Encyclopedia Britannica http://search.eb.com/eb/article?eu=32861 Accessed 12/4/02. Foulkes, David. Dreaming: A Cognitive-Psychological Analysis Hillsdale, NJ: Lawrence Erlbaum Associates, 1985 Merriam-Webster Dictionary. Springfield, MA: Merriam-Webster, Incorporated, 1998 â€Å"mind† Encyclopedia Britannica http://search.eb.com/article?eu=54131 Accessed 12/5/02 Pfenninger, Karl H. and Valerie R. Shubik The Origins of Creativity Oxford: Oxford University Press, 2001 â€Å"sleep† Encyclopedia Britannica http://search.eb.com/eb/article?eu=117529 Accessed 11/24/02