The Utilization of Moringa Oleifera (Malunggay)

Rising energy prices and environmental problems led to the increase in alcohol demands in many aspects, like in making fuels. Many people are doing researches about making their own product so as to lessen their everyday expenses. Right now, Filipino scientists are in think of the search for alternative fuels, with the experts from the University of the Philippines in both Diliman and Los Banos campuses searching all over the archipelago for energy sources from the forests to the bottom of the sea, from enzymes to fungi and other microorganisms. So, the researcher came up of using the malunggay leaves extract as source of ethanol since based on the study done by Senator Loren Legarda, the extracts obtained from the leaves of malunggay plant is 80% ethanol, which is used for fuels. This study knew the possibility of ethanol from malunggay leaves extract. First, the researcher gathered the needed the raw material, the malunggay leaves. It weighted . 75 kilogram. Then, through the process of grinding and filtration, 700mL of malunggay leaves extract was produced. The extract was fermented after with the aid of live yeast for a period of six weeks. The fermented extracts was then distilled using the simple distilling apparatus and the researcher obtained 60 mL ethanol. The ethanol was then brought to the Philippine Institute of Pure and Applied Chemistry (PIPAC) to know its ethanol content. Based on the testing done, only . 5% of the volume of the product is ethanol. After the testing, the intrinsic properties were computed. Using the formula for density, D=mass/volume, 47. 4 g/ml was obtained. For the specific gravity, the formula SG=density of the liquid/density of water, and . 79 was obtained.

Effects of Jejemon Essay

Jejemons, are you one of them? Recently, someone tagged me in a weird photo in facebook showing Jejemon†¦I never knew that freakin word and didn’t care until I saw on the news what they are, what it means and why the hell it’s being aired everywhere. Well, at least in Phil. This hub is all about Jejemon. What is Jejemon? What is Jejemon really? It was derived from two words jeje (from â€Å"hehe† means laughter) and mon (a Japanese-influenced suffix in Pokemon)Jejemons are the people who laugh â€Å"Jejejeje† instead of â€Å"heheheh† in Pinoy SMS. Jejemons has multiplied through chatrooms, online games, social networks and widely in mobile texting. They became a popular subculture because they make their own rules of spelling, punctuation and grammar. They type words in the virtual world by alternating capital and small letters, adding H, Z etc. So weird that only their group could understand. dHeY tYpe wOrdz lYk diZs **To view their website visit Jejemon.com Jejemon became so controversial and often, it creates debates discussing the advantages anddisadvantages of Jejemon. Good Effects of Jejemon * Gives pleasure to a social group. Jejemons became a tribe, so if you are one of them, you tend to enjoy like them. I can’t object and I’m not against them but I know every gang or sorority brings pleasure to anyone in a way he feels he belongs†¦ * Secret codes. If you’re a Jejemon, you definitely know how to speak and how to communicate with them. Only you and your folks can understand each other pretty well. So maybe, in times of secrecy, you can converse using your special terms. * The feeling of freedom. If  you’re a proud Jejemon, it also means you don’t care about anti-Jejemon critics. It’s a sign that you are liberated from what others would think. Bad Effects of Jejemon * You forget your main language. Whatever it is, English or Filipino, if you’re a Jejemon, you always speak with it, so you get used to it. Your other dialects are set aside. Oftentimes, it will let you forget the right spelling or grammar in English or Filipino. * Jologs status. (Ok Jejemons don’t freak out) Jologs, just like Jejemon, is a term used to denote low class group who are majority from the province towns, often times termed as â€Å"tambay† Jologs is a label of no-care to the world of etiquette or whatever is prim and proper for that matter. * Outcast. Jejemons unfortunately are not widely accepted in the nation so if someone sort of suspects he’s talking to one, he won’t talk with him again or be a friend with him. A perfect example would be what I’ve read from a site that says, â€Å"OMG you’re a Jejemon! Bye!† Because of it, Jejemon has been a big social issue. * Difficult to read. All would agree it’s frea king hard to read Jejemon words. Sample Jejemon words and phrases eOw poHw! (hello po) xInU pOe xLa? (sino po sila) jejejeje (heheheh) Do Jejemons annoy you? ————————————————- Top of Form * Yup so annoying! * No, they are cool. Bottom of Form See results without voting Do Jejemons annoy you? DepEd (Department of Education) discourage everyone using such grammar because of the obvious effects. A lot of groups have grown also to combat Jejemons, they areJejebusters, Anti-jeje, GOTTA KILL ‘EM ALL JEJEMON and many more. Surprisingly, the term â€Å"Jejemon† won the word of the year inSawikaan 2010 over nine other entries, by the University of the Philippines academic group in Diliman, Quezon City organized by the Filipinas Institute of Translation. I have no problem with Jejemons and they don’t annoy me at all because I don’t talk/text to anyone of their kind.

A Father Son Alcohol Addiction

Speech to Explain Outline Topic: Attraction Specific Purpose: To explain to the class why we may become attracted to someone and what happens in our body when we are. Thesis: There are certain theories as to why we become attracted to someone. When we are attracted to someone, our brains release specific chemicals, and we subconsciously let the person know we are attracted through body language. Introduction: Your heart starts to race. You fix both your hair and your shirt. Your pupils dilate and your brain releases dopamine and adrenaline.What’s going on with you? You have a crush on someone and this is your body’s response to seeing and being around that person. I’m positive that we all know what this feels like. Since spring is upon us, leading to warmer weather and more exposed skin, I’m going to discuss a topic that we’re all familiar with around this time of the year: attraction. More specifically, I’m going to explain 1) theories as to why we become attracted to a certain person 2) what happens in our brains when we develop an attraction to someone, and 3) the physical signs of attraction.Trans: Let me start off by saying that attraction is defined as â€Å"the action or power of evoking interest, pleasure, or liking for someone or something†. That being said, let’s go over how it all starts: the reasons why we may become attracted to someone. * Most physical attraction starts with superficial qualities. * According to British scientist Charles Darwin’s Evolutionary Theory, men and women look for partners who exhibit fertility and health through their physical features so they can procreate. Men are more attracted to a woman with an hour glass figure * This is body type is a sign of sexual maturity because when girls go through puberty, they get fat deposits in their breasts, hips and butt. This creates a smaller looking waist, creating the hour glass figure. * Represents a high reproductive potential. * Women are more attracted to a man with broad shoulders and a narrow waist (â€Å"V† shaped body). * Men with this body type are seen as more dominant. * This body shape is also linked to greater levels of testosterone and good health. Women are also more attracted to older men, because with age comes more resources. * The evolutionary theory doesn’t take personality, facial features, and expressive style into account. * How a person identifies themselves can play a role in why they become attracted to someone. This is called the Matching Hypothesis. * Proposed by Elaine Hatfield, pioneer of the scientific study of romantic love and sexual desire, this theory is states that â€Å"people will choose someone of their own level of social desirability† when making dating and mating choices. If you think you’re a 10, you’re going to pursue 10’s. If you think you’re a 6, you’re going to pursue 6’s. * Fun fact: It o nly takes about a second to decide if you’re physically attracted to someone. (Too short, too tall, too skinny, etc. ) TRANS: The evolutionary theory and the matching hypothesis are just two possible explanations as to why we may develop a physical attraction to someone, both dealing with superficial qualities. Now let’s take a look at what’s going on in our brains when we become attracted to someone. The brain is responsible for being attracted to someone, not the heart. * The brain releases 3 chemicals called â€Å"monoamines† when attracted to someone. * Dopamine is a chemical that when released, gives you a feeling of pleasure and satisfaction. * When attracted to someone, it can be released when you see that person, when you talk to them, when they touch you, etc. * It is also released when eating chocolate and doing cocaine. * Helen Fisher, Rutgers University anthropologist & expert on romantic love, states that the brain processes attraction the sa me way it would an addiction. Norepinephrine is a hormone that, when released, increases our heart rates and makes us start to sweat. * It is related to adrenaline (â€Å"fight or flight† response) * Gives us those butterflies in our stomach, leaves us breathless. * Serotonin is a chemical that gives us a feeling of calmness and togetherness. * During the initial stages of attraction serotonin levels are low, which explains why we can’t eat or sleep or think about anything other than the person we’re attracted to. * Levels of serotonin rise when the attraction starts to progress into a relationship.The downside to this is that there is a lack of excitement in the relationship. TRANS: So, as the brain releases these chemicals, our bodies will show signs of these chemical and hormonal releases. Now I’m going to go over the physical signs that occur when you are attracted to someone. * An attraction to someone will manifest itself through body language * You r pupils will dilate * Dilation occurs because the release of dopamine when seeing an attractive person excites the nerve endings in your pupils, causing them to dilate. You start to mirror the other person’s actions * Body language mirroring happens subconsciously when you’re attracted to someone and things are going well. * If your crush leans in on the table, you will lean in on the table, if they cross their legs, you’ll cross your legs. * A 2009 study found that in a speed dating scenario, a woman who mimicked the actions of her date made the date a more positive and memorable experience in the man’s opinion. [Gugen] * You start to fix your appearance When you are or are expecting to be around your person of interest, you start to make yourself as visually appealing as possible. * For women, this could mean fixing your hair, adjusting your make up, showing off some skin. * For men, this could also mean fixing their hair, and adjusting their clothes. Trans: So, now that you know what some signs of a crush are, hopefully you can identify when someone’s attracted to you or not. Conclusion: To review, the evolutionary theory and the matching hypothesis are two possible explanations behind why we can become attracted to someone.Our brains release three chemicals when we are around the person we like, and our body language can give away if we are interested in a certain person. Now that you know a little bit about what goes on with our bodies, you can be better prepared the next time you develop an attraction to someone. Thank you. ‘Works Cited Dingfelder, Sadie. â€Å"More than a Feeling. †Ã‚  More Than A Feeling. N. p. , n. d. Web. 07 Apr. 2013. . Hatfield, Elaine. Matching Hypothesis. Http://www. elainehatfield. com/ch108. pdf. N. p. , n. d. Web. â€Å"The Look of Love: Top 5 Physical Signs of Attraction.   HowStuffWorks. N. p. , n. d. Web. 07 Apr. 2013. â€Å"Love Potion No. 9: Top 5 Love Chemicals in the Brain. †Ã‚  HowStuffWorks. N. p. , n. d. Web. 07 Apr. 2013. Nicolas, Guegen. â€Å"Mimicry and Seduction: An Evaluation in a Courtship Context. †Ã‚  Taylor and Francis. N. p. , n. d. Web. 07 Apr. 2013. . Riggio, Ronald. â€Å"Which Body Types Are Most Sexually Attractive. †Ã‚  PsychologyToday. com. N. p. , n. d. Web. . â€Å"The Science of Love. †Ã‚  BBC News. BBC, n. d. Web. 07 Apr. 2013. . â€Å"Social Psychology. †Ã‚  SparkNotes. SparkNotes, n. d. Web. 07 Apr. 2013.

The Manager as a Critical Thinker Case Study Example | Topics and Well Written Essays - 1750 words

The Manager as a Critical Thinker - Case Study Example By doing so, author aims to broaden the level of critical thinking as well as communication skills. There is one basic issue which is being discussed in this memo which is basically the outsourcing of the information systems of the State's department of transport. Apart from the main issue, other issues which are discussed include lowering wages, jobs lost by the workers, giving access of information systems to third parties, as well as supporting in next elections if the idea of outsourcing the existing systems is opposed at the appropriate level. While concluding, Glenn, Barbara, outlined that the proposal for outsourcing is not only against the interests of the current employees, but it is also against the State and shall be abandoned in order to save the jobs of many who may be rendered jobless due to relocation of their jobs as well as of their job skills may become obsolete. There are different reasons which are being cited as potential harms of the process of privatizing the information systems. While discussing such impacts, memo discusses following reasons for opposing the move by Governor to outsource the Information systems: 3. By dispersing employees to new locations for jobs, not only their skills will become inferior, but they may find it difficult to cope with the change. Such employees who are nearing their superannuation may find it extremely difficult to learn new skills therefore may be shown the door due to lack of skills and competencies. 4. The proposed outsourcing of the job therefore would result into the job losses for many of the employees as it has historically been witnessed that management hardly keep its promises. What words or phrases are ambiguous The memo contains following ambiguous words and phrases: 1. To outsource and privatize: Outsourcing is not privatization. It seems that the author of the memo failed to clearly distinguish between the two concepts. 2. Executive branch of government: It is ambiguous as to how those employees who are working in a purely technical job can work at an executive branch of the government. From this perspective, it may be inferred that the government may finally lay them off. 3. Proposed privatization is an assault on our union: Again this seems to be a misconception as unions successfully exist into private organizations also. 4. Anti-American: The assumption that outsourcing or privatization is anti-American may be ambiguous because America is probably the only country in the world which strongly advocates free market economies. 5. Foreign agents will bid for this privatization contract: It is not necessary that outsourcing process can only be given to foreign contractors. Local contractors can too offer such services. 6. According to the online website Wikipedia: Wikipedia may not be considered as a reliable source of information. 7. You rebut the governor's proposal: The phrase may be indicating a partial and biased opinion of author towards Governor. What are the value conflicts and

Concept of Representation in Diplomacy Essay Example | Topics and Well Written Essays - 5000 words

Concept of Representation in Diplomacy - Essay Example In the past, literature in the field of diplomacy has defined representation in various ways, some of which are even conflicting when it comes to its role in international relations in contemporary and future society. However, the importance of diplomatic representation in diplomacy would depend on the meaning attributed to this concept. As a result, the relevance of diplomatic representation has become the centre of a major debate about the importance of diplomacy in a fast evolving world. It's hard for us to picture what ancient diplomacy was all about. However, the diplomacy in the Greek and Roman civilizations was intermittent and generated no permanent in situations.1 (Hamilton and Langhorne 995: 7) "In order to dispense with diplomacy, that is with the methods used by independent governments to work out their own relations with one another, mankind would either have to let independent governments exist without the diplomatic dialogue, or else dispense with independence and 'sovereign states' altogether. They would not be able to conclude peace settlements or treaties with their neighbours, for such settlements are the essence of diplomacy. Each would have to stand alone against a more powerful and aggressive neighbour. They would not be able to get into touch with one another, to band together or form leagues and alliances for mutual protection."2 (Watson 1991:22) THE EVOLUTION OF REPRESENTATION IN DIPLOMACY In the ancient days, representation was not so strong in diplomacy. Niccolo Machiavelli was a great ruler of his time. He is quite famous for his political theory. However, little is known about his reflections on diplomacy. Machiavelli emerged when diplomacy just began its transformation that saw the creation of resident embassies. (Berridge 2001:7-8) In order for us to assess the role of diplomacy in today's world, some scholars argue that residential bilateral diplomacy is gradually becoming irrelevant. However, other scholars continue to uphold this type of diplomacy. These debates have been initiated by the changes that are occurring in the international system. Some scholars believe that the practice of diplomacy needs to adjust in order to adapt to the new environment, meanwhile others feel that the traditional methods still the answer the question today. (Berridge 2001:136) In the past, debates over globalization and global governance claimed that the role of governments decline over the years. But that hasn't happened. We are now witnessing different trends that prove this argument wrong. There is still much government participation in the ways in which government agencies operate. The structures of contemporary diplomacy now operate in such a way that they do not only go out to articulate the international goals and policies of the state. Today's diplomatic structures also tend to represent components of the increasing network of global governance. The transformations in the structures of diplomacy strongly depict the ways in which governments are responding to the changes in the international system. (Manojlovic and Thorheim 2007:12) Changes in the practice of diplomacy began with the introduction of the principle of self-determination, and then later proceeded into the era of

English Essay Example | Topics and Well Written Essays - 250 words - 34

English - Essay Example The new iPad is truly worth its price because it serves the owner in a lot of ways and with high quality of standards. There are many gadgets and equipments which have made life easier and entertaining for us and iPad is one of them. In day to day life we have some moments which are boring and time consuming like waiting for something or traveling and it becomes difficult to pass time. Now an iPad can be used to pass time conveniently by reading a favorite book on it or by playing a game or watching a movie on it. Time is very precious for everybody in this fast world and iPad provides an opportunity to utilize the time properly. Hence an iPad justifies its price by serving us in many useful ways. Among many devices which have made our life easier, comfortable and entertaining, iPad is one which helps us to utilize our time conveniently which is normally wasted or boring. The time we spent on waiting or traveling can be made entertaining by using an iPad. We can use an iPad for playing games or watching movies or reading a book of choice while we are riding a bus or a train or an airplane or waiting for somebody or something. Nobody, whether young or old, wishes to waste time uselessly and iPad has given us the best option to utilize the time which was normally wasted. An iPad is worth investing in because it serves its purpose in many ways by entertaining people. A few years back, it was very boring and difficult to pass time while waiting or traveling. We didn’t have any option to do anything except for reading newspapers or magazines which were seldom available. Now we have many devices that can be used to pass time conveniently by entertaining ourselves. iPad has made it possible and the time can be passed by reading a book or watching a movie or playing a game on an iPad. Now passing the time in waiting or traveling is no longer a problem and an iPad is well worth its price. The

Open Veins of Latin America Term Paper Example | Topics and Well Written Essays - 1250 words

Open Veins of Latin America - Term Paper Example On the other hand, Latin America existed in bondage and the significance of self-identity was not accessible to them (Galeano 12). In most cases, the colonizers seize the natural resources of the colonized nation, and they send to their own country. Earlier, the colonized people used to be sold out as slaves to other countries that used to liaise with the colonizers. Those who try to resist the rule of the colonies are tortured and jailed for long sentences without trial (Galeano 12). However, hard fighting, struggling and opposition to the rule of the colonizers and major revolts have led to the collapse of great colonizers. Therefore, the fall of colonizers is inevitable, and it cannot remain intact forever (Memmi 36). This write up will explore the relationship that exists between colonizers and the colonized, by looking at a typical example of colonizers and the colonized. Further, the paper will display the reasons that led to the downfall of some of the greatest colonizers. Thi s relationship will be explained in the context of colonialism. The basic argument in this essay is that, the objective situation that man finds himself in, determines his character, personality and behavior (Memmi 44). The cognitive map of then colonized and the colonizers, as well as their perceptions, influence the way they react to colonialism (Galeano 12). The behaviors of colonizers are characterized by brutality, bigotry, exploitation and oppression. Colonizers assume this behavior towards the colonized immediately a colony is established. The social rules and institutions that already influence this conduct in existence, in the colony. It is essential to note that, colonialism is chiefly driven by economic gain. The consciousness of the bondsman and the master oppose each other as the master works hard to maintain the status quo, while the slave strives to break the bondage. This results to a revolt that ends the era of oppression. However, the freed slaves experience many d ifficulties when reorienting themselves to live with abundant freedom. They were used to experiencing the harshness of their master to a point of thinking that that harshness is the best way of life. To reinforce this argument, this paper will look at the example of Italians who did not have any economic interests from their colonies (Galeano 22). The Italians maintained a close relationship with the colonized, almost to a point of forgetting that they were colonizing a nation. This is very different from what used to happen in Latin America, as her Europeans maintained a great distance between them and the Americans. Another reflection is on how the colonizers view the colonized. They judge the colonized using their own standards that are highly subjective. The portrait that colonizers carry about the colonized is mythical, and it lacks any objective truth in it (Galeano 31). Negative traits are incorporated in the attribution that colonizers have toward the colonized. These attrib utes include corruption, laziness and civilization deficiency in the eyes of the colonizers. Racism issue is central to this discussion as it undermines the struggle for fair treatment and justice among members of the human family (Galeano 44). Racism is characterized by imaginary expressions that are substantive towards an accused person by the accuser to their own benefit. Further, colonizers spread racism propaganda that turns the colonized to an

Coping with Stress Essay Example | Topics and Well Written Essays - 250 words

Coping with Stress - Essay Example The major cause of stress in my life is the psychological factor. My aims are always very high and I put in all my efforts to achieve my goal and target. I have always managed to keep up to the expectations of the people and this is the major reason of my stress. The fear of not keeping up to the expectations of other people always keeps me under stress. This stress keeps me under pressure, constant headache, cold, stomach ache, afraid to express myself in front of people; the efficiency of my work is also reduced due to this stress (Lazarus, & Folkman, 1984). A proper strategy must be designed in order to cope up with this stressful condition in order to make myself capable of achieving my goals and aims. First I must make myself realize that nobody can be perfect and that mistakes can be made by everyone. I must try to relax myself through meditation and certain medications so that I can get relieved of the stress. These techniques will certainly get me out of the stressful condition because the best solution of getting relieved from stress is meditation (Lazarus,

An Analysis of the Current Developments in International Advertising Essay

An Analysis of the Current Developments in International Advertising Regulations - Essay Example In their efforts to be competitive, international firms have emulated various strategies. Some of the notable marketing aspects include e-marketing, social media marketing, product diversification, repositioning of brands among others. In order to enhance product awareness and customer’s loyalty, global companies such as Coca-Cola, Toyota, General motors, Honda, Apple Incorporation, Pepsi among others have taken wide range of advertisements through satellite television, newspapers, internet and other avenues. This paper gives the analysis of the current developments in international advertising regulations and the impact on international marketing practise and consumption. International advertising International advertising involves spreading of messages that are related to a product or a service with an aim of propelling the demand from the existing customers or with the purpose of attracting new consumers. It is important to note that due to the cultural diversity and social aspects in various countries, the way customers perceive or react to an advertisement campaign differs. In this regard, international advertising entails the communicating process that takes into consideration the consumption patterns of the audience, multiple cultures and forms of communication. In the same way, international advertisement has been recognized by international agencies as a profitable business in terms of creating adverts on behalf of organizations. Development of international advertising One of the major causes of heated discussion among the advertising managers and academics is advertising standardization. According to the advertising managers, establishment of a comprehensive advertisement campaign entails the identification of local, intrinsic and firm factors that manipulate global advertising. In order to effectively serve the firms that were aimed at operating at an international level, advertising agencies established themselves in various countries. This was based on the high returns that they anticipated by treating the advertising campaigns as business practices. One of the major aspects that led to development of international marketing was the end of the communist regimes in 1990’s. As a result, companies who were eager to provide new products and attract large number of consumers positioned themselves in the Eastern Europe market. Based on the high number of firms that were scrambling for the available consumers, the global advertising became a priority. According to Grein and Ducoffe (1998), most organizations especially those from US emulated the services of advertising agencies leading to high advertising revenues. For instance, in 1991 the top ten advertising agencies in US earned more than 60% of their income from international billings. To find the solutions and share the plight that hindered advertising in the global market, companies that were focused at international advertising formed organizations such as Unit ed Kingdom Institute of Practitioners and US Association of National Advertisers. As companies progressed in their advertisement strategies, innovations in the information technology led to the enhancement of international marketing practice through the introduction of internet. This ensured that international companies targeting customers from various place in the world could now advertise their

Debate about the true market value of Telstra shares and about the Essay

Debate about the true market value of Telstra shares and about the financial management of the company - Essay Example Aside from the aforementioned services, it is also involved in the provision of cable distribution and management of business information technology or telecommunication services. The company also provides wholesale services to other carriers, carriage service providers, and Internet service providers (Telstra Corporation Limited 1). The company has made its IPO (initial public offering) in 1991. Currently, the company is under joint public/private ownership, with the Australian government holding 51.8% of its share as of the mid-2005 (Telstra 1). The privatization of Telstra has begun in the late 1990’s by the coalition government. However, full privatization which would mean divesting all the government’s shares had been blocked until the 14th of September 2005. The true value of the company’s stock is currently under hot speculation from the different industry players. Experts assert that the company’s stock is overvalued as some financial information were revealed to the government, the company’s largest stakeholder yet remained concealed to the remaining 1.6 million shareholders. The company had allegedly borrowed US$500 million from its reserves to cover its dividend payout in 2005 and another US$2.5 billion for its dividend obligations in 2006. It was also reported that the company needs a minimum of US$3 billion cash outlay in order to rehabilitate its faulty lines. This investment is necessary as Telstra Limited Corporation had not been making investments to maintain its lines (Haynes 20-21). This information significantly affected the value of the telecommunication giant as investors become wary of the true performance of the company and its future directions. During the first week of September, the market value of its stocks plunged to its lowest in two years. Stock prices further dipped reaching $4.00. After its IPO in 1997, Telstra Corporation Limited has become a profitable investment in security, giving healthy

Fast food restaurant Essay Example for Free

Fast food restaurant Essay The pace of modern life is fast, and nowhere is it faster than in America. We want fast transportation, fast communication, fast computers, fast photos, fast music, fast repairs, and fast service from the businesses we patronize. It is from the last of these that we got fast food. At first, it was a matter of fast service. Fountain and Fast Food Service was the title of a trade magazine, which published statements like this from 1951: The partners have become old hands at spotting the type of conventioneer that will patronize their fast food service. Gradually service disappeared, and in 1954 we find fast food by itself in the title Fountain and Fast Food. Incidentally, the trade magazine renamed itself Fast Food by 1960. In February of that year, the magazine noted, Delicate scallops are really fast food because they come ready to cook. And in July it remarked, Fast food type restaurants do the lions share of business for breakfast and noon meals eaten out. The fast food revolution was a quick success throughout the land, and two decades later it was conquering the world. The U. S.outcry against infiltration from the south is matched in vehemence by our neighbors outcry against fast-food imperialism and the gradual Americanization of their own societies. noted the Christian Science Monitor in 1982. Thanks to fast food, families that formerly ate home cooking now eat out or bring back take-home fast food in record numbers. Its virtue is speed, not quality. Its less than ideal nutritional value may have influenced the coining of another term twenty years later, one that also puts a four-letter epithet in front of food: junk food (1973). Gale Encyclopedia of US History: Fast FoodTop. Home Library History, Politics Society US History Encyclopedia Fast food is what one eats in the vast majority of Americas restaurants. The term denotes speed in both food preparation and customer service, as well as speed in customer eating habits. The restaurant industry, however, has traditionally preferred the designation quick service. For hourly wage earners—whether factory hands or store clerks—take-out lunch wagons and sit-down lunch counters appeared at factory gates, streetcar stops, and throughout downtown districts in the late nineteenth century. For travelers, lunch counters also appeared in railroad stations nationwide. Fried food prevailed for its speed of preparation, as did sandwich fare and other fixings that could be held in the hand and rapidly eaten, quite literally, on the run. Novelty foods, such as hot dogs, hamburgers, french fries, came to dominate, first popularized at various worlds fairs and at the nations resorts. Soft drinks and ice cream desserts also became a mainstay. Thus, fast food also came to imply diets high in fat and caloric intake. By the end of the twentieth century, the typical American consumed some three hamburgers and four orders of french fries a week. Roughly a quarter of all Americans bought fast food every day. The rise of automobile ownership in the United States brought profound change to the restaurant industry, with fast food being offered in a variety of drive-in restaurant formats. Mom-and-pop enterprise was harnessed, largely through franchising, in the building of regional and national restaurant chains: Howard Johnsons, Dairy Queen, Burger King, Kentucky Fried Chicken, Pizza Hut, and Taco Tico. Place-product-packaging was brought forcefully to the fore; each restaurant in a chain variously shares the same logo, color scheme, architectural design motif, and point-of-purchase advertising, all configured in attention-getting, signlike buildings. Typically, fast food restaurants were located at the roadside, complete with driveways, parking lots, and, later, drive-through windows for those who preferred to eat elsewhere, including those who ate in their cars as dashboard diners. Critical to industry success was the development of paper and plastic containers that kept food hot and facilitated carry-out. Such packaging, because of the volume of largely nonbiodegradable waste it creates, has become a substantial environmental problem. In 2000, Mcdonalds—the largest quick-service chain—operated at some 13,755 locations in the United States and Canada. The companys distinctive golden arches have spread worldwide, well beyond North America. Abroad, fast food came to stand as an important symbol of American cultural, if not economic, prowess. And, just as it did at home, fast food became, as well, a clear icon of modernity. Historically, fast food merchandising contributed substantially to the quickening pace of American life through standardization. By the beginning of the twenty-first century, it fully embraced mass production and mass marketing techniques, reduced to the scale of a restaurant. Chains of restaurants, in turn, became fully rationalized within standardized purchasing, marketing, and management systems. Such a system depends on a pool of cheap, largely unskilled labor, the quick service restaurant industry being notorious for its low wages and, accordingly, its rapid turnover of personnel. Bibliography Jakle, John A. , and Keith A. Sculle. Fast Food: Roadside Restaurants in the Automobile Age. Baltimore: Johns Hopkins University Press, 1999. Pillsbury, Richard. No Foreign Food: The American Diet and Place. Boulder, Colo. : Westview Press, 1998. Schlosser, Eric. Fast Food Nation: The Dark Side of the All-American Meal. New York: HarperCollins, 2002. —John A. Jakle Gale Encyclopedia of Food Culture: Fast FoodTop Home Library Food Cooking Food Culture Encyclopedia What is termed fast food in the United States today most commonly consists of hot, freshly prepared, and wrapped food items, served to customers across a counter or through a drive-up window. Known as both fast food and quick-service food in the restaurant industry, these items are routinely sold and delivered in an amount of time ranging from a few seconds to several minutes; they now vary widely in food type, encompassing virtually all kinds of meats, preparation methods, and ethnic cuisines. Inexpensive hamburgers and french fried potatoes are still the products most readily identified as fast food, but the list of items sold in the format continually increases. Fried fish and shellfish, hot dogs, chicken, pizza, roast beef, and pasta are commonly sold at quick-service outlets. In addition to these staples, many quick-service restaurants sell a broad menu of Americanized Mexican, Greek, and Chinese foods. Some fast-food outlets offer specialty items, such as sushi, clams, or ribs, and others even sell complete home-cooked meals over their counters. Though menus and delivery formats vary greatly, fast foods chief common denominators include immediate customer service, packaging to go, and inexpensive pricing. The precise origins of fast food are vague, probably predating written history. Hungry people are as old as civilization itself, as are entrepreneurs eager to satisfy their hunger. Food vendors in ancient cities sold prepared items to passersby on the street. The actual foods varied greatly, depending on period and culture, but they generally comprised simple, inexpensive fare sold to people of modest means. Immigrants brought a variety of food styles to America, often preserving these for decades as a comforting connection with their ethnic past. Though many immigrant foodways were elaborate and ritualistic, most groups had one or two simple items that they consumed on a daily basis. As a rule, immigrant groups preferred their indigenous grains: corn from the Americas, rice from Asia, and wheat from Europe. Often these served as the basis for the peasant foods of their homelands. Pasta and flat breads came over with Italians; tortillas, beans, and tamales arrived with northbound Mexicans; and Germans brought dark breads, along with a variety of fatty sausages (which later mutated into the hot dog). Asian immigrants continued to eat rice as the basis of their diet. In the early twentieth century fast food remained primarily the fare of the masses. Vendors wheeled their pushcarts daily to factory gates, selling their wares to hungry workers. Often catering to the tastes of the particular factorys dominant ethnic group, they charged customers pennies for basic items such as sausages, meatballs, or stew. Though popular among male industrial workers, this pushcart version of fast food never became mainstream cuisine. The urban diner was the transitional phase between the vendors pushcart and modern fast food. Most early diners were small restaurants, with limited seating, sometimes constructed out of converted railway carriages or streetcars. They served simple foods to working-class customers on a short-order basis, usually cooking each meal individually when ordered. Menus varied, but fried foods were common. Though diners often emphasized speed in delivering food, customers routinely lingered before and after eating. The hamburger still stands out as the single most important American fast food, though the precise origin of this meat sandwich is the subject of historical disagreement. People have eaten chopped beef throughout the ages, and it was long a fixture in many world cultures. The lineage of the American hamburger seems to point directly, as its name indicates, back to the German city of Hamburg. First appearing on American restaurant menus in the mid-nineteenth century, ground beef patties bore the title hamburg steak. By the centurys close, vendors regularly sold meatballs wrapped in slices of bread at county fairs and summer festivals. Regional legends attribute the invention of this snack to several different individuals, but its true originator remains a mystery. The Rise of Modern Fast Food Our modern image of the fast-food restaurant dates back to 1916, when Walt Anderson began selling hamburger sandwiches from an outdoor stand on a Wichita street corner. Anderson simply flattened a meatball and placed it between two halves of a bun. His sandwich quickly became popular, attracting long lines of hungry buyers. By 1921, Anderson had joined local insurance broker Edgar Billy Ingram to form the White Castle System. After opening several identical restaurants in Wichita during their first year, the partners quickly spread their business to neighboring cities, then to nine major urban areas throughout the Midwest and on the East Coast. What separated the White Castle System from earlier short-order restaurants was its very streamlined menu, comprising only hamburgers, coffee, Coca-Cola, and pie; a uniform architectural style; and strict standardization of food quality, preparation methods, and employee performance. By the close of the 1920s, White Castles aggressive marketing and rapid spread had made the hamburger one of the most popular foods in America. Other entrepreneurs soon noticed White Castles success in the hamburger business. Very closely copying White Castles products, architecture, and company name, competing new chains also thrived, carrying the hamburger craze across the nation to smaller cities and towns. The White Tower chain appeared in 1925, eventually challenging White Castles dominance in several northern cities. Krystals, opened in 1929 in Chattanooga, soon became the hamburger powerhouse of the southeastern states. White Castles hamburger sandwich, along with its many imitators, became a daily staple for many working-class Americans. It proved so successful, in fact, that by 1930 the president of the American Restaurant Association identified the fast-food hamburger as the most important food item in the nation. Hamburgers became even more a mainstream food during the 1930s. The larger restaurant chains began marketing their products to middle-class buyers, and even more Americans became burger lovers. Despite the harsh economy of the Great Depression, most fast-food chains continued to thrive, and in many cases grew considerably. Most continued selling the White Castle–style hamburger, but late in the decade the Big Boy chain spread east from California, introducing its new double-decker hamburger sandwich along the way. By the end of the Depression, America was a solidly hamburger-eating culture. After prospering in the Depression, however, the fast-food industry suffered a serious setback during World War II. Shortages of necessary foodstuffs, such as meat, sugar, tomatoes, and coffee, meant limited menu offerings and often a significant loss of business. Attempting to continue providing meals to their customers, fast-food restaurants experimented with different items that were still in abundance, including soy patties, chili, and french fried potatoes. Even more damaging than commodity shortages was the very low unemployment rate, which meant that most workers bypassed the restaurant industry in favor of higher-paying work. Adjusting to this labor shortage, chains soon replaced their all-male workforce with women and teenagers, two groups who would become their most common employees. Despite attempts to find palatable alternative foods, and despite the shifts in workforce, much of the fast-food industry was a casualty of the war; by 1945, more than half of Americas restaurants had closed down, including several of the major fast-food chains. Rebuilding the fast-food industry after the war proved a slow process. No single chain emerged to claim dominance, and little innovation occurred. Individual companies struggled to restore their prewar prosperity, and new regional chains tried to gain a foothold. Suffering the effects of escalating costs and still under the threat of continued shortages due to unstable food supplies in war-torn countries, fast-food restaurants often had to double prices to remain in business. As population shifted from Americas cities to suburbia during the 1950s, the fast-food industry quickly followed. Early chains such as White Castle and White Tower, resisting moving to the suburbs, were quickly eclipsed by upstart franchised chains. Burger King and McDonalds outlets became common fixtures at suburban crossroads, selling burgers, fries, and shakes to hungry families. Burger Kings Jim McLamore and McDonalds Ray Kroc each sought to build one of his restaurants in every American town, and they opened hundreds of new Burger Kings and McDonalds each year in the 1960s. To accomplish this rapid expansion, they relied heavily on franchise investors, enforced strict product uniformity throughout their chains, and aggressively advertised in every newly opened territory. With McDonalds and Burger Kings success, Burger Chef outlets soon appeared nearby. Arbys, Kentucky Fried Chicken, and Taco Bell were not far behind. By the late 1960s, fast food no longer meant just hamburger restaurants, but had diversified to include quick-service pizza, roast beef, chicken, and tacos. To give an idea of the dimensions to which the fast-food industry has grown, in 1999 Americans consumed over 26 billion pounds of beef, much of it as hamburgers. In that year McDonalds alone had more than ten thousand restaurants in the United States, from which it grossed in excess of $13 billion in revenue. Criticism of Fast Food Despite the widespread popularity of fast food in modern American culture, critics abound. Since the 1930s, articles and books have condemned the industry, exposing allegedly poor sanitary conditions, unhealthy food products, related environmental problems, and unfair working conditions. Whether it warrants the attention or not, the fast-food industry is still regularly cited for exploiting young workers, polluting, and contributing to obesity and other serious health problems among American consumers. American beef consumption, and more specifically the fast-food hamburger industry, is often blamed for the burning of the Amazon rain forests to make way for more grazing lands for beef cattle. Early foes of fast food cited the deplorable filth of many hamburger stands, in addition to claiming that the beef ground for their sandwiches was either spoiled, diseased, or simply of low quality. In fact, many critics maintained that much of the meat used in fast-food hamburgers came from horse carcasses. The high fat content of fast food was also controversial. Despite deceptive industry claims about the high quality and the health benefits of their products, in the 1920s and 1930s concerned nutritionists warned the public about the medical dangers of regular burger consumption. This distrust and criticism of fast food continue today, extending even further to include dire warnings about the industrys use of genetically modified and antibiotic-laden beef products. Most major chains have responded to recent attacks by prominently posting calorie and nutritional charts in their restaurants, advertising fresh ingredients, and offering alternatives to their fried foods. Despite a few more health-conscious items on the menu, fast-food chains now aggressively advertise the concept that bigger is better, offering large super-size or biggie portions of french fries, soft drinks, and milkshakes. Critics point to this marketing emphasis as a reason for an excessive and greatly increasing per-capita caloric intake among fast-food consumers, resulting in fast-growing rates of obesity in the United States. Increased litter is another problem that critics have blamed on the fast-food industry. Selling their products in paper wrappings and paper bags, early outlets created a source of litter that had not previously existed. Wrappers strewn about city streets, especially those close to fast-food restaurants, brought harsh criticism, and often inspired new local ordinances to address the problem. Some municipalities actually forced chains to clean up litter that was imprinted with their logos, but such sanctions were rare. Fast-food wrappers became part of the urban, and later suburban, landscape. Since bags and wrappers were crucial in the delivery of fast food, the industry as a whole continued to use disposable packaging, superficially assuaging public criticism by providing outside trash receptacles for the discarded paper. Years later, environmentalists again attacked the industry for excessive packaging litter, criticizing both the volume and the content of the refuse. By the early 1970s, the harshest criticisms focused more on the synthetic materials used in packaging, and less on the carelessly discarded paper. Critics derided the industrys use of styrofoam sandwich containers and soda cups, claiming that these products were not sufficiently biodegradable and were clogging landfills. Facing mounting opposition from a growing environmental movement, most of the major chains returned to packaging food in paper wrappings or small cardboard boxes. Labor activists have criticized fast-food chains tendency to employ inexpensive teenage workers. Usually offering the lowest possible wages, with no health or retirement benefits, these restaurants often find it difficult hiring adults for stressful, fast-paced jobs. Many critics claim that the industry preys on teenagers, who will work for less pay and are less likely to organize. Though these accusations may have merit, the industrys reliance on teenage labor also has inherent liabilities, such as a high employee turnover rate, which result in substantial recruiting and training costs. Companies have countered criticism about their use of teenage workers with the rationale that they offer young people entry-level work experience, teaching them: both skills and responsibility. Despite the relentless attacks, hundreds of millions of hungry customers eat fast food daily. The media constantly remind American consumers about its supposed evils. Most are conscious of the health risks from fatty, greasy meals; most realize that they are being served by a poorly paid young worker; and if they choose to ponder it, most are aware that the excessive packaging causes millions of tons of trash each year. But they continue to purchase and eat fast food on a regular basis. Fast food remains central to the American diet because it is inexpensive, quick, convenient, and predictable, and because it tastes good. Even more important, Americans eat fast food because it is now a cultural norm. As American culture homogenized and became distinctively American in the second half of the twentieth century, fast food, and especially the hamburger, emerged as the primary American ethnic food. Just as the Chinese eat rice and Mexicans eat tamales, Americans eat burgers. And fast food has grown even beyond being just a distinctive ethnic food. Since the 1960s, the concept has extended far beyond the food itself, with the term becoming a common descriptor for other quick-service operations, even a metaphor for many of the negative aspects of mainstream American life. Theorists and pundits sometimes use the term fast food to denigrate American habits, institutions, and values, referring to them as elements of a fast-food society. In fact, fast-food has become a frequently used adjective, implying not only ready availability but also superficiality, mass-produced standardization, lack of authenticity, or just poor quality. In the last two decades of the twentieth century, fast food gained additional economic and cultural significance, becoming a popular American export to nations around the world. Some detractors claim that it is even deliberately used by the United States, as a tool of cultural imperialism. The appearance of a McDonalds or Kentucky Fried Chicken restaurant on the streets of a foreign city signals to many the demise of indigenous culture, replacing another countrys traditional practices and values with American materialism. In fact, the rapid spread of American fast food is probably not an organized conspiracy, rather more the result of aggressive corporate marketing strategies. Consumers in other countries are willing and able to buy fast-food products, so chains are quick to accommodate demand. Thought of around the world as American food, fast food continues its rapid international growth. Bibliography Boas, Max, and Steve Chain. Big Mac: The Unauthorized Story of McDonalds. New York: Dutton, 1976. Emerson, Robert, L. Fast Food: The Endless Shakeout. New York: Lebhar-Friedman, 1979. Halberstam, David. The Fifties. New York: Villard Books, 1993. Chapter 11 discusses the origins of the McDonalds empire. Hogan, David Gerard. Selling em by the Sack: White Castle and the Creation of American Food. New York: New York University Press, 1997. Jakle, John A. , and Keith A. Sculle. Fast Food: Roadside Restaurants in the Automobile Age. Baltimore: Johns Hopkins University Press, 1999. Langdon, Philip. Orange Roofs, Golden Arches: The Architecture of American Chain Restaurants. New York: Knopf, 1986. McLamore, James, W. The Burger King: Jim McLamore and the Building of an Empire. New York: McGraw-Hill, 1998. Mariani, John. America Eats Out. New York: William Morrow, 1991. Schlosser, Eric. Fast Food Nation: The Dark Side of the All-American Meal. Boston and New York: Houghton Mifflin, 2001. Tennyson, Jeffrey. Hamburger Heaven: The Illustrated History of the Hamburger. New York: Hyperion, 1993. Witzel, Michael Karl. The American Drive-In: History and Folklore of the Drive-In Restaurant in the Car Culture. Osceola, Wisc. : Motorbooks International, 1994. —David Gerard Hogan AMG AllGame Guide: Fast FoodTop Home Library Entertainment Arts Games Guide Release Date: 1989 Genre: Action. Style: Maze Random House Word Menu: categories related to fast foodTop Home Library Literature Language Word Menu Categories Random House Word Menu by Stephen Glazier For a list of words related to fast food, see: Cuisines, Meals, and Restaurants fast food: cheap, mass-produced dishes served quickly at walk-in or drive-in outlets; convenience food Wikipedia on Answers. com: Fast foodTop Home Library Miscellaneous Wikipedia For other uses, see Fast food (disambiguation). A typical fast food meal in the United States includes a hamburger, french fries, and a soft drink. Pictured here are burgers from In-N-Out Burger McDonalds, Kentucky Fried Chicken and Pizza Hut fast food restaurants in the United Arab Emirates Fast food is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically the term refers to food sold in a restaurant or store with preheated or precooked ingredients, and served to the customer in a packaged form for take-out/take-away. The term fast food was recognized in a dictionary by Merriam–Webster in 1951. Outlets may be stands or kiosks, which may provide no shelter or seating,[1] or fast food restaurants (also known as quick service restaurants). Franchise operations which are part of restaurant chains have standardized foodstuffs shipped to each restaurant from central locations. [2] Contents 1 History 1. 1 Pre-modern Europe 1. 2 United Kingdom 1. 3 United States 2 On the go 2. 1 Filling stations 2. 2 Street vendors and concessions 3 Cuisine 3. 1 Variants 4 Business 5 Employment 6 Globalization 7 Criticism 8 See also 9 References 10 Further reading 11 External links History.

Troubleshooting Evco Insurance Network Essay Example for Free

Troubleshooting Evco Insurance Network Essay The network manager himself not keeping track of the growth of the network , coupled with the return of an unspecified number of computers from storage back into the network, are conditions that would encourage the network congestion currently experienced by Evco Insurance. This is further confirmed by the fact that the worst network congestion occurs where the network has experienced the most expansion in the last six months: the Marketing department. Several causes come to mind, with the presentation of the scenario for Evco Insurance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first cause that comes to mind is in regards to the computers pulled out of storage. It is possible that since the computers were pulled out of storage, the configuration of the TCP/IP settings may have conflicted with newer additions to the network. This would affect the computers within the marketing department, since these particular computers were deployed there, and any other computers that share the same settings. This would explain the some of the causes of the network congestion and the solution would be to correct or reconfigure the settings on the affected computers. This is a basic error, however, and would mostly affect only the individual computers that have conflicting settings and would not be the most probable cause, though it may contribute to the congestion.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Related to the first possible cause is the possibility that there are hardware errors that were unchecked when the computers were assigned to the new marketing personnel. A particular concern is the network cards of those computers taken from storage. One such error causes the network card to continuously transmit junk data into the network, flooding the network with unnecessary data and slowing down connectivity; in which case even just one such computer can cause the whole network to slow down. Actual settings of network adapters and switch ports may also have conflicting settings. Both these hardware /settings errors can contribute to the network slowdown in the Marketing department, and both can be located using a combination of actually checking each computer and checking how far along the network a command or ping can travel.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another possibility, but not the last possible cause, is the actual physical cable connections of the Network. A 100BASE-TX can have up to 100 meters of twisted copper cable per segment length, which must be rated at least category 5. While it is possible that the network itself has been poorly maintained, and that individual cables within the physical network are causing the error, it   may be more likely that there are problems or errors in the physical connections recently added to the network, since the problem of slow connectivity was experienced after the addition to the network. Ranging from poorly-maintained cables, using the wrong category of cables, or even the correct type of cable connected or the incorrect crimping of the cable can lead to network slowdown.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Any of these three, or perhaps none of them, could be the cause for the network slowdown experienced in the Marketing department of Evco Insurance. There could be other reasons for the problem, though these are the three possible causes that immediately came to my mind.

Risk Management In Construction Industry Of India Construction Essay

Risk Management In Construction Industry Of India Construction Essay Risk management is something related to uncertainty as it is not fixed and it is a part of daily life, or it is something we cannot predict and may result in negative outcome (Helmen and Shen Li, 2001). However its a process of analyzing exposure of risk and determining how to best handle such exposure. Some firms may use risk assumption, risk avoidance, risk retention, risk transfer or any other combined strategies for proper organized management of future events. Risk is somewhat calculable, since it has to do with probabilities, whereas uncertainty has no previous history to relate any probabilities to. Uncertainty is rather an epistemic uncertainty, since it has to do with uncertainty of outcome and related to system performance (Aven, 2003). However, as an extent previous research also suggests that construction industry is likely to have more risk than to any other business activity mainly because of complexity of project, unskilled labor, climate calamities et cetera. Above all, It often seen that lack of practices and development of risk assessment and management techniques for Indian construction projects. The Construction industry is one of the most dynamic, risky and challenging businesses. However, the industry carrying bad impression in order to manage or deal with risk, along with many giant projects failing to reach its pre determined financial goals. Mainly because of change in weather, unskilled or absence of workers or other labors, improper productivity inside the plant with low level of quality and its raw material. Whenever risk arises whether it gets ignored or dealt with a completely arbitrary way simply adding 10 percent contingency onto the estimated cost of a project is typical. In a business as complex as construction, such an approach is often inadequate, resulting in expensive delays, litigation and even bankruptcy (Hayes et al, 2007). Further supporting this, as per Burchett (2000) risk management is an important part of the decision making process of all construction companies. Risk and uncertainty can potentially have damaging consequences for some construction p rojects. Risk can affect productivity, performance, quality and the budget of a project. Risk cannot be eliminated, but it can be minimized transferred or retained. In addition to this (Flanagan and Norman, 2008) also claims that In Construction industry, Risk includes the processes concerned with identifying, analyzing and responding to project risk, It includes maximizing the results of positive events and minimizing the consequences of adverse events. The characteristics of construction projects usually depends on their transparent nature, value of their business partner and the strong dependability on the basis of their local natural and human environment, which indeed highlights the difficulties of risk management in construction industry. Management of risks in building construction projects has been identified crucially at very best of the processes with respect to achieve project objectives which are in the form of time, cost, quality, safety and environmental Sustainability (Zou et al., 2007). Further as per (Baloi and Price, 2003) the role of above project objectives becomes more vital when a particular organization merges up with the overseas firm and the risk exposure becomes higher due to lack of information and knowledge about the international partner and their local environment. Hence Lipsy, (2008) suggest that global factors of risk are affecting more to the construction firms specially to contractors, because they are the victim who are less familiar with them. However, (Dikmen et al, 2007) argues that the success of construction companies carrying out projects in international markets significantly depends on how the risks that stem from the host country conditions are managed. Many practices and implementations have been aims to develop a risk model that contains the risks of doing business in international markets and handle the global risk. Indian construction organizations have increasingly played a vital role in the world wide market in the last two decades. Indian industry minister had a visit to eight African countries in early 2006 which indeed helped to boost up the involvement of Indian construction organization in an African continent as billions of dollars are poured into infrastructural investments (The Business Times, 2007). Indian construction organizations were able to give up the competitive and effective fight with the contractors against the other developed countries (Low et al, 2006).Above all, (Luther and Hensen 2006) mentions that identified the risks prolonged by overseas construction organizations and different ways of facing those risks while undertaking the construction projects at the outside soil. The manageable corporate scenario always needs to improve their approach to risk management and abilities to learn the lessons from both success and failure cases in order to avoid similar mistakes in the future (McGill et al., 2004) and (Luther and Hensen, 2006). Hence, it enables Indian constructors to improve their way of handling construction management ability in an unseen environment turns in to priority issue. In addition to this (Hastak and Shaked, 2006) describes the construction scenario into three different levels which are country, market and level of project. They further explain the economy stability which linked to the project policy and probability of countrys economy break down. Overall construction market level risk, specifically for an overseas organization does helps in to technological advancement which helps to open up more resources for construction proves and also simplifies complexity of construction process this all indeed turns in heavy competitor against local competitor and also helps to minimize the chances of financial risk. (Dubois and Gadde, 2006) claimed that complications in construction projects Always arises from the two formal sources which are interdependence of tasks and uncertainty. Further, Uncertainty has four sources where first and foremost is managements inexperience nature with local resources and local environment lack of knowledge with regards to what exactly happening at construction site, which includes material placement, the current work status and specialized team with regard to place and time, lastly, unpredictability of environment. Again, Dubois and Gaddes studys main conclusion was that the unstable and changing network is a major cause of the short-term sub optimization hampering a longer-term productivity, innovation and learning. To reduce this uncertainty, a firm should consider at least four different types of coordination inside the network and think relationships longer than just one projects perspective. Risk management is one of the knowledge junction which presented by the US PMI, (Project Management Institute) in the year of 2004. Addition to this Kloman (2004) observed that risk Management is simply good common sense in coping with possible and actual daily Mishaps, and the occasional major disasters that may lead to financial losses and unfulfilled plans for individuals and organizations, and indeed for society as a whole. Furthermore, risk management in the construction industry could be a Systematic way of identifying, analyzing and dealing with risks associated with a project in an order to achieve the project objectives (Zou et al, 2007). The Project Management Institute (2004) characterized risks in to four categories which are; Technical Risks, Organizational Risks, Project Risks and External Risks (abbreviated as TOPE risks). These four categories of risks are regularly faced by an Indian construction firms due to lack of risk management approach towards basic construction objectives and other activities. Specifically while working with the overseas firms which are previously merged with the local firms and invested huge amount of funds as a financial risk that too in metro cities of India. However it is obvious that appears reasonable for the firms, to inevitably face by Indian construction firms when they operate in the domestic firms due to high level of varieties. Against, the Project Management Institute (2004) (Markand and Aury shake, 2005) presents another risk assessment model specifically for an international construction project which is known as ICRAM-1, further they describes the model for risk assessment which shows potential risks with the identification at all three levels such as project level, market level, macro level. Further, results are obtained from the analysis of ICRAM-1 in the form of potential risk indicators, the overall impact of those risks into market as well as countrys environment where specific projects are under process. Furthermore, according to (Densen et al, 2008) states that Risk management systems and other guidelines are not new to implement. It jus requires reasonable and effective awareness of risk uncertainty, the way of qualifying the risk, procedure of controlling the certain possible controllable risk along with minimizing the impact of uncontrollable risk with the help of properly allocating those risk by risk allocation or apportionment. However, According to (Tah and Carr, 2005) the ineffective implementations of risk management are often caused by: A lack of formalized risk management procedures, which includes identification of risk followed by the risk analysis and risk control A lack of continuity of risk management in the various stages of the project life cycle, including conceives, project design, planning of project, allocation, plan execution, delivery of certain core areas, review and support Weak integration between risk management and other key processes, including design, estimating, planning, production, logistics, cost analysis, manufacturing, quality assurance, reliability, schedule analysis, support such as maintainability, and testing and evaluation A lack of interaction among different parties, which includes customers, insurers, contractors and suppliers. All the different parties indulged in a project usually have different conception with regard to risks according to their own background and interests. Customer always needs and expects proper scope and objectives of projects and the financial resource. Contractors take the major responsibility to deal with risks during on time construction process. Contractor has to finalize in order to what exactly they needs such as to maintain, minimize, transfer or avoid risks. However, they frequently use three methods to transfer a risk which are as follows:- 1) Firstly, with the help of insurance to insurance companies. 2) Secondly, through handling over or giving subcontract to subcontractor, else through making changes in the contract and in the certain rules and regulations at customers and other parties (Chapman and Ward, 2004; Luther and Hensen, 2006). Further, Insurance companies does not only helps with the insurance to contractors by transferring risks, but also provides special panel of expertise as a mentor to the contractors in order to managing the risk and identifying the potential risk along with reducing chances of probable risk. Again, (Williams et al., 2005) advised that the willingness of insurer to write an insurance coverage reflects favorably on insureds efforts at risk prevention. The improved understanding and interaction among clients, contractors, and insurers will help in the effective management of risks that will benefit the construction industry (Choy et al., 2006; Liu and Flanagan, 2005). Further in addition to this much has been mentioned on how risk exposure may be an alyzed and managed as per the project management institute. However it also reflects that the risk management study also has been done and gives out some points on an Indian construction industry which is booming along with the overseas partners. Model for Risk management (2005) states that the implementation and information regarding the risk management are not up to the mark or limited mainly in Indias construction industry. This is specifically vital as further it mentions regarding Indias overseas exporting services where rational approach is in action while dealing at first time. The rational approach always seeks a balance or trade-off between the chances of risks occurring and the severity of risk once it has been affected, the aftermath steps to follow. This indeed helps to know whether risks may be managed, but at a cost depending on whether the construction firms decide to mitigate, accept, avoid or transfer (also known as the MAAT) the identified risk. Finally, Baloi and Price (2003) both argued that having a deep knowledge and discipline of continuous development of the risk management seems that practitioners have not fully appreciated its importance. Further it was concluded that the main barriers to effective compliance are cost of implementing management plan, language, educational barriers employees and other labor staff. Therefore, the main barriers to improvement of risk management may be low awareness of risk management of Indian contractors and the difficulties in implementing such a system. In addition to this H.R Pitale (2005) suggests that, the better the tools used to communicate during a project to all parties involved will have a lesser risk. This approach provides for better understanding at every stage in the process. The owners can better understand what they are getting, estimators can have a much higher chance of estimating correctly, schedule planners can receive significantly more information to make a better schedule, contractors can better understand their assignments in the context of the overall project, and laborers on the site, who often cannot read drawings, can quickly understand the task at hand when it is described in a model. Now models are being brought to the construction site to ensure that the communication risk is dramatically reduced. The overall construction needed to be taken care by the group of upper level expertise which indeed requires a good Contract management staff because it includes highly critical functional services such as Cons ultancy service, Project control, Resource scheduling etc. As per the Indian construction industry and its financial condition along with organizations internal risk and outside risk Davendra Surji (1999) states that financial risk is always depends upon the resources to be utilize, the amount of time a project may take, material, and labor cost. If uncertainty occurs in any of this its increases the financial risk. However Technical staff and Human resource, Environmental control and other Government policies are also plays a key role in overall risk of project. In which environmental control and government policies in India have the highest vulnerable risks. However, (Mishel, 2007) argues that risk analysis and management in Indian construction industry depend basically on intuition judgment and experience. Formal risk analysis and management techniques are rarely used due to a lack of knowledge and to doubts on the suitability of techniques for construction industry activities. (Alfredo et al, 2005) states that as far as owners point of view the overall process of risk management has to be particularized for each and every construction projects which could be undertaken by the owners consultant. Further, author puts more emphasize on complete and generic process of risk management which must be used at construction projects where maturity level of risk is large and more complicated. Author also suggests a Delphi method of identifying the risk and how to deal with that risk as a final validation of the project risk all the identified processes simplified and proposed as a summarization where methodology and final results has to be presented. As per (Kenn and Y. Ling, 2002) the most of the project risk and failure of construction project depends on the nature of the project, method and documents of contract. However to mitigate this author suggests that appropriate contracting method coupled with clear and equal contract documents which ultimately turn down the uncertainty and complexity of risk against diverse and conflicting agendas. This means attitudes of the contracting partners and co-operative relationships among the project participants are crucial in order to make a successful project B. Vegamally, (2004). Despite the improvements in the project risk management practices across the construction industry, many contractors still not having proper holistic approach where risk is fully integrated into every aspect of the construction life cycle (right from the project contracting to project completion). This is evident from the fact that still notice construction projects suffering from ill defined scope, design and constructability issues and mismanaged vendors. As a consequence there are clear time-cost quality gaps, add to that a considerable tying up of valuable resources when you shift to fire fighting mode (Edward, 2003). Further, Vegamally (2004) mentions on the basis of Indian construction industries survey that fostering co-operative relationships and better teamwork always turns in to fruitful and riskless completion of project. Again, in order to assessing the risk (Falgun and Rashid, 2001) said that the development of a construction project from the concept, feasibility study and real design which indeed takes huge amount of time and also accommodates many different phases along with it seeks involvement of huge staff which are of different skills and interests, also requires a good amount of materials procurement system and the use of equipment. All of these situation can only possible to handle while skilled staff able to co-ordinate well with a smooth flow of each and every small activities. Above all it becomes important to identify the risk if occurred in between the process, mainly compounded by many external, uncontrollable factors that can generate risk. Risk can manifest itself in numer ous ways, varying over time and across activities. To judge the criteria, whether the level of risk is high or low (Kumaraswamy and Ali, 2005) mentioned that the first is the probability of risk occurrence where chances of an undesirable risk occurrence should be specified then secondly, the degree of risk impact, which is the degree of seriousness and the scale of the impact on other activities if the undesirable even occurs and subordinate issue that should be noticed is that a large number of small losses, caused by risks with little impact, could have a similar effect on a balance sheet to those resulting from a single loss caused by a higher impact. Therefore, degree of risk should be seen both from the probability of occurrence and the degree of risk impact because each will affect the degree of risk. As per (Mills, 2004) three of the most important risks in construction projects include weather, productivity of labor and plant and quality of material. For example these areas are not easily controllable by a contractor before the project execution. (Cohen and Palmer, 2005) identified risk trends in construction projects. They found that typically, risks are determined at the very early phases of the project (feasibility and planning) while the impacts are not experienced until the construction and production start-up phases. Further, as per (Hari and Subra, 2004) mentions that process of risk management must be implemented at the beginning of the project life cycle, hence it allows to make basic fundamental changes at project life cycle. Later overall project must be carefully analyzed in order to check the each phases and respective method is being use, if needed it should be customized as per individual characteristics. The underlying reason for risk management is to identify and ensure the well- grounded and unbiased decision making. However, (Artto and Kahkonen, 2006) concludes that risk management processes mainly includes only three core processes which are identification of risk, estimation of risk, and planning of risk response and execution. Further they highlights about five different accessory processes of risk such as risk management planning, risk communication, risk ownership development, risk management strategy and risk management control. As per (Artto and Kahkonen, 2006) the identification phase is stressed by many researchers (Turner, 2006). Further Turner says that It is quite obvious that if we are unaware of the risks, its difficult to manage them, though this view is limited to the event-type scope of risk management. In addition to this (Turner, 2006) presented the concept of risk from different perspectives, which forcing puts more emphasize on risk in a wider level, moving from single even-scope to wide uncertainty-scope. According to (Chapman,2005) the risk management process builds majorly on the initial identification phase, he explains the reason that success of later risk management phase is directly comparable to the quality of the first identification phase. Further, (D. Ramanand, 2005) explains the detailed steps and methods in order to identifying and differentiates the risks which are presented. He states that, the methods generally include brainstorming, risk checklists, expert analysis/interviews, modeling and analyzing different scenarios and analyzing project plans. In addition to this, author further says, Sources of risk or uncertainty and sources of known unknowns should be listed. In support of this, (Ward and Chapman, 2006) emphasizes using an uncertainty perspective in the project risk identification phase, since they consider such an approach to be the best way to determine all possible sources of opportunities (positive risks), not just threats. The identification lists need to be followed and updated as our knowledge and understanding of the project environment increases. As per (Artto and Kahkonen, 2006) Risk response planning and the execution- phase must have an effective control process by its side to confirm that the risk management processes are iterative and running successfully, are not dismissed as project starts and it follows that decisions are implemented and have the expected results. Monitoring and controlling usually means writing and checking documents and conducting meetings. Further, Author puts emphasize on the importance of team work and communication as a means of risk management. Monitoring should also include evaluating the basis of earlier decisions, and assessing whether the assumptions made at the beginning are still relevant. According to Saari (2005) suggests a simple tool for monitoring the risk management process. She proposes using risk status as an indicator of the process phase under every recognized risk. Risk status describes the current situation of a certain risks. Risk monitoring involves monitoring known risks, identifying new risks, reducing risks, and evaluating the effectiveness of risk reduction. The main output at this stage is associated with corrective actions and project change requests. Project risk continuous reassessment involves periodic reviews of project risk status to identify new risks, and to examine changes in probabilities or impacts and Changes in the contractors project risk responses. (Floricel and Miller, 2008) developed five risk strategies for projects, which are mainly for the large scale projects like construction projects, which further elaborated how risks in large scale projects should be handle. Author further state that strategies of every level of projects. A number of institutional anchoring elements must be put in place to tie project strategy to organizational strategy. It means that all organizations projects (called project portfolio) should be treated as stock portfolio. Also (Ward and Chapman, 2006) promoted the corporate scale view on risks rather than just a project scale view. They introduced the concept of risk efficiency as a prerequisite of the holistic risk management process and formed a decision rule for efficient risk management.

The guidelines of the law :: essays papers

The guidelines of the law There are many different guidelines of this law that each state and school systems have to follow. The first of many is to hold states, school systems, and individual schools accountable for their test scores. â€Å"It sets a new standard for measuring achievement and has real consequences for schools that fail to make progress over time† (Heath, 2002-2004, para. 2). Each state will have to implement school testing and report their finding back to the government. The government will then send out the results from the tests. The government is very lenient on how the states set up their plans for improving their schools. School systems are allowed to build off their programs already in use. The government allows the use of systems that are already in place but it also states to send them their plans for improvement. If school systems fail to send in a report and a plan for change to the Department of Education, the government can take away their Title 1 funding (Hombo, 2003). The purpose of holding schools accountable for test scores is to show the teacher, parents, and other staff members what the school needs to work on improving. This will help to limit teachers passing children who are not up to the proper grade level because the person feels bad for the child because of his or hers living situation, (Sclafani, 2002-2003). The tests will be given to every student from grade four through grade eight. The National Assessment of Education Progress administers the test every two years. â€Å"NAEP has a new role: to act as a serious discussion tool in evaluating results of state assessments, and in providing a common base for comparison between states† (Hombo, 2003, p.4). This goes back to states being held accountable for their students test scores. States that do not receive the proper federal funding do not have to develop or implement the test (Boehner, 2001-2002). The No Child Left Behind legislation focuses on improving students reading levels, especially in the elementary years. â€Å"Only 32% of fourth graders are proficient readers who read at a fourth grade level,†(Heath, 2002-2004, para. 3). If school systems receive the money, they can then in turn apply for the Reading First Grants. These grants are used to pay for classroom reading instructions. They have to be used with programs that have been researched and are proven to work.

Custom Essay - Sexuality and Sexual Intercourse in A Midsummer Nights D

Sexuality and Sexual Intercourse in A Midsummer Nights Dream On the surface, Shakespeare’s play A Mid Summer Nights Dream is simply a comedic romp concerning love. A close examination of the actions and words of each of the players will reveal that the primary focus of the play is not really love but rather sexuality and sexual intercourse.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hippolyta's nightlife role as Titania is stage-managed by Theseus-Oberon, who gets his will by magical means.   if his own imperial gaze has proved ineffectual, he will capture Titania's gaze and refocus it with an aimlessness that would have gratified Cupid:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The next thing then she waking looks upon,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Be it lion, bear, or wolf, or bull,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Or meddling monkey, or on busy ape,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   She shall pursue it with the soul of love.    This prepares the way not only for an arousal of 'animal love' in Titania but for its consummation in her bower.   The supposed ravishment of Bottom would have to happen offstage, primarily because that is the only place it could have happened.   Titania's bower is not the same as the flower-canopied bank 'where the wild thyme blows' and where according to Oberon, 'sleeps Titania sometime in the night'.   If it were the same, then it is especially easy to believe that no sexual act occurs between the Queen and the Ass.   If such an act should occur, it must be believed that her bower is really in fairyland, which is distant from the wood, and that it is there where Bottom is taken and there where he is ravished.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As for the theater, a Titania-jumping Bottom, or a Bottom-jumping Titania, is hardly what Shakespeare could have meant for ... ...f the sadism Hermia's dream attributes to Lysander, and since this is also Hippolyta's 'dream', it represents her anxieties about a Theseus who won her love by doing her injuries.   Oberon not only sees Titania's disgrace, but feels it, and by doing so breaks his charm.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Unpleasant as Oberon's methods are, we can only judge them by Titania's response. When she wakes up, she is not bitter, but quick to love, 'My Oberon!'.   And, to obey, when he asks for music she immediately cries, 'Music, ho!   Music, such as charmeth sleep!' Works Cited and Consulted Berry, Ralph. Shakespeare’s Comedies. Princeton, N.J.: Princeton University Press, 1972. Greenblatt et al., ed. â€Å"A Midsumer Night’s Dream.†The Norton Shakespeare: Comedies. W.W. Norton & Company, Inc. 1997. Vaughn, Jack A. Shakespeare’s Comedies. New York: Frederick Uncar Publishing Co., 1980.

Catholic Theology Essay Highlights -- essays research papers

*Sense experiences/depth experiences: not limited by the empirical data-the really â€Å"real† is not necessarily able to be seen. *Religious Experience (depth experience): Not just a sense experience, an experience that causes people to change, always touches on the â€Å"other† (the transcendent)-that which goes beyond our understanding (anything that we can come up with) (ie..who can really explain the sunset?). *Orthopraxis (Right-practice): The process of doing the right things. *Orthodoxy: Believing the right thing. *Sacramental Approach: Sacraments use the world around us as a way/event in which we encounter God: The way we do that is being involved with life/experiences in this world-that we are able to reach God in the afterlife (ex: eating is a way of being joined w/ God). *The things of this world matter-it becomes the way we reach God on the road to reaching eternal happiness (meeting God). *Foundation Theology/Fundamental Theology: Explains what theology is all about. *Theology: â€Å"Faith seeking understanding† – we need faith 1st before understanding can be reached. *Determining the â€Å"cannon† (cannon of scripture): list of writings that adequately express the faith of the community. *Apacal Writings: didn’t make it onto the list (cannon) because they didn’t adequately express what the community expressed as far as their understanding of faith. C.Rahner: Sees theology as the science/study of faith (it has excepted way of doing things).   Ã‚  Ã‚  Ã‚  Ã‚  *Theology has a special subject matter: the act & content of faith   Ã‚  Ã‚  Ã‚  Ã‚  *Act: what it means to be a believer/a person of faith   Ã‚  Ã‚  Ã‚  Ã‚  *Also sees faith as the goal of theology   Ã‚  Ã‚  Ã‚  Ã‚  *We have to have faith 1st (it’s a gift given to us by God) *Theology doesn’t assume faith, it produces it. Theology is a practical science, it impels us to put what we know into action-practice what you preach. *Christian faith is a community based function, not an individual function. *Revelation: The historical passing over/on of beliefs (the interpretation of faith). *Catholic Theology: Lives build on faith in God who has been mediated to human beings through Jesus Christ. *Formative Factors in Theology (Macquarrie): where we get our theology from   Ã‚  Ã‚  Ã‚  Ã‚  1. Experience 2. Revelation: God making himself ... ...esus as the definitive revelation of God in the world.   Ã‚  Ã‚  Ã‚  Ã‚  *Christ accepted as the center of the universe and the hope of humanity.   Ã‚  Ã‚  Ã‚  Ã‚  *Christ as both the way to realization of full humanity and the disclosure of the   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   true face of God. *Act of faith embraces:   Ã‚  Ã‚  Ã‚  Ã‚  *Orthodoxy (Creed)   Ã‚  Ã‚  Ã‚  Ã‚  *Orthopoiesis (Code)   Ã‚  Ã‚  Ã‚  Ã‚  *Orthopraxis (Cult) *Difference between religious faith and primordial faith in the nature of the act of religious faith:   Ã‚  Ã‚  Ã‚  Ã‚  *Object of religious faith is transcendent and transcendental.   Ã‚  Ã‚  Ã‚  Ã‚  *Interior grace: first grace, supernatural existential, unrestricted desire to know   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and love (love doesn’t know boundaries)   Ã‚  Ã‚  Ã‚  Ã‚  *Exterior grace: second grace (based on message for community), God’s   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   revelation in Christ.   Ã‚  Ã‚  Ã‚  Ã‚  

Ideaistic versus materialistic motivations Essay

Behind every great society, there is always a story. Today, the nation of America is referred to as God’s own land. With population of approximately 293,500,000 and land mass of GDP of approximately $10. 98 trillion per year, the country commands the respect of many of its fellow nations. The question that readily comes to heart is that; has this always been so? What we see in the nation of America today did not just start in a day. It was a process – one that was filled with patriotism from dedicated hearts. In fact, the wonderful story we hear of the great nation all started from the period called the American Revolution of 1775 when the then thirteen colonies of America gain independence from the British colonial power. Many people have from different schools of thought hold different views about this revolution. Some are of the idea that the revolution was based on the mere idealistic and scholarly works of some philosophers and sages of that time. On the other hand, some are of the opinion that these seeming patriots were merely motivated by their materialistic class interest. To this, I will say both sides have a point. I state the reason for my assertion in the following paragraph. Evidently, ideological belief in the notion of individual liberty and human equality was part of what motivated the revolution. This can be seen in the works of John Locke and Montesquieu. We can also see this in the declaration of independence. On the other hand, looking at it critically, some patriots of this revolution knew that the independence will bring political position to them. Some of the we motivated by the savour of power and authority that will be passed into their hands However, I think that no matter what the motivation was, it was a good fight. Generations to come will forever be grateful to them that they did and their name will be in the sand of time. Reference: Fleming, T. (1997). Liberty! : The American Revolution. New York: Viking.

Problem Review Set Capital Structure and Leverage Essay

Managerial Finance – Problem Review Set – Capital Structure and Leverage If a firm utilizes debt financing, an X% decline in earnings before interest and taxes (EBIT) will result in a decline in earnings per share that is larger than X. True b. False 2) Firm A has a higher degree of business risk than Firm B. Firm A can offset this by using less financial leverage. Therefore, the variability of both firms’ expected EBITs could actually be identical. 3) It is possible that two firms could have identical financial and operating leverage, yet ave different degrees of risk as measured by the variability of EPS. ) Which of the following events is likely to encourage a company to raise its target debt ratio, other things held constant? An increase in the corporate tax rate. An increase in the personal tax rate. An increase in the company’s operating leverage. d. The Federal Reserve tightens interest rates in an effort to fight inflation. e. The company’s stock price hits a new high. 5) The firm’s target capital structure should be consistent with which of the following statements? Maximize the earnings per share (EPS). Minimize the cost of debt (rd). Obtain the highest possible bond rating. Minimize the cost of equity (rs). Minimize the weighted average cost of capital (WACC). 6) Which of the following statements isAs a firm increases the operating leverage used to produce a given quantity of output, this will normally lead to an increase in its fixed assets turnover ratio. b. normally lead toa decrease in its business risk. normally lead to a decrease in the standard deviation of its expected EBIT. d. ormally lead to a decrease in the variability of its expected EPS. e. ormally lead to a reduction in its fixed assets turnover ratio. 7) Reynolds Resorts is currently 100% equity financed. The CFO is considering a recapitalization plan under which the firm would issue long-term debt with a yield of 9% and use the proceeds to repurchase common stock. The recapitalization would not change the company’s total assets, nor would it affect the firm’s basic earning power, which is currently 15%. The CFO believes that this re capitalization would ikely to occur if the company goes ahead with the recapitalization plan?

Best Practices of Mergers and Acquisitions

Running head: BEST PRACTICES OF MERGERS AND ACQUISITIONS Mergers and Acquisitions: Best Practices for Success Abstract Mergers and acquisitions have become a growing trend for companies to inorganically grow a business within its particular industry. There are many goals that companies may be looking to achieve by doing this, but the main reason is to guarantee long-term and profitable growth for their business. Companies have to keep up with a rapidly increasing global market and increased competition. With the struggle for competitive advantage becoming stronger and stronger, it is almost essential to achieve these mergers. Through research I will attempt to dissect the best practices for achieving merger success. Mergers and Acquisitions: Best Practices for Success When companies are acquired or merged, people almost immediately start to focus on the differences in the companies. They also begin to pay attention to who are the winners and who are the losers. It is typical in an acquisition for the acquiring company to see itself as the winner, and the acquired company as the loser. The controlling company wants to impose changes and view those in the acquired company as highly resistant to change. It is clear that most mergers and acquisitions are primarily based on strategic, financial, or other objectives. However, ignoring a potential mismatch of people and cultures can lead to strategic and financial failure. In most mergers, serious consideration should be given to cultural and leadership style differences. The success of a merger or acquisition can be defined as the creation of synergy. But every merger and acquisition is a unique event, occurring in a unique environment that is subject to various influences. Analyzing a merger should begin by understanding the culture and core values of the business that is being acquired. Ashkenas, DeMonaco, and Francis (1998) observed that â€Å". . . it is increasingly important that executives learn how to manage the integration of acquisitions as a replicable process and not as a one time only event† (p. 166). DiGeorgio (2002) has researched this topic extensively through the mergers and acquisitions of Cisco and GE Capital. Cisco approaches mergers by â€Å". . . (a) doing [its] homework to select the right companies and (b) applying an effective reliable integration process once the deal is struck†(DiGeorgio, 2002, p. 138). Cisco has in the past turned down deals with companies which did not fit within its strategy. Cisco looks at deals from the following perspective (DiGeorgio, 2002): 1. Are our visions basically the same? 2. Can we produce quick wins for shareholders? 3. Can we produce long-term wins for all four constituencies – shareholders, customers, employees, and partners? 4. Is the chemistry right? 5. For large M&A, is there geographic proximity? (p. 138) GE Capital, on the other hand takes a more process-based approach to handling mergers. Since GE has performed plenty of mergers and it learns and grows from each one. The crux of its process is â€Å"[g]etting the right integration leader [which] constitutes 95 per cent of the success of an integration† (DiGeorgio, 2003, p. 139). This study highlights the importance of being proactive in pre-merger planning and offers advice to help ensure that the merger process will be a success. Within this paper, I plan to discuss the best practices companies can use to ensure a successful merger. These practices include timely merger planning, choosing the right leadership, focusing on corporate culture, communicating effectively, and engaging the staff, human resources, and middle management. Timely Merger Planning There is a lot of time and effort spent on finding good merger candidates and courting them only to fall through on the follow-up integration activities. As soon as serious discussions begin with a potential merger candidate, the integration planning efforts should begin. It is essential that acquisitions be assimilated into the parent as quickly and as smoothly as possible to minimize any losses in productivity and maximize opportunities between the two organizations. â€Å"There is good agreement that the first 100 days after a merger change set the tone, signal the troops about the real direction of the organization and its vitality†(DiGeorgio, 2003,p. 266) A slow integration process can actually worsen problems. Merger integration should not be treated as an after-thought. It is something that needs to be addressed uring the merger search and negotiations phase while there is time to minimize any negative impacts. Choosing the Right Leadership Choosing the right leadership, not only for the merger integrations, but also for the new combined company is important in terms of vision, mission, culture, and expectations. A leader should focus on the larger design of the new corporation. A leader has to resist the temptation to take the easy way out. It is not pleasant to deliver bad news or to be a naysayer, but it is necessary at times. It is also important for a leader to promote and ensure good morale. This starts with treating people with respect and listening to their opinions, rather than telling them what to do. â€Å"Leaders set the tone for the culture and for how relationships are going to unfold in the combined organization† (DiGeorgio, 2003, p. 260). Effective working relationships and increased trust developed among the senior executives will carry throughout the organization as a model of how the newly integrated organization will work. Senior executives need to establish the cultural rules of engagement in the new entity quickly and effectively. Company leaders should strive to provide as much transparency as possible to decision making and address employee concerns such as changes to roles and responsibilities, compensation and employee benefits as promptly and practical as can be performed. â€Å"Integration management is a full-time job and needs to be recognized as a distinct business function. . . † (Ashkenas et al. , 1998, p. 169). The role of the transition merger leader cannot be taken lightly. This person must make critical personnel, process, and structural decisions quickly. This role requires the mental tenacity to endure long meetings, tough questions, and low morale. The G. E. Pathfinder model as presented by Stopper (1999) suggests that it find an integration leader to direct these merger activities and get the necessary results done to have a successful integration. Stopper (1999) also suggests a few other skills and qualifications necessary to look for in this person which include experience in project planning and management, communication planning and implementation, expertise specific to acquisitions, and corporate culture familiarity. Research by Ashkenas (1998), on the other hand, believes a merger leader should have ability to facilitate integration activities, to help the acquired business understand processes of the new company, and to help his or her company understand the business that is being acquired. Leadership also needs to be held accountable for the success of the merger (DiGeorgio, 2002). The leader should have a sense of purpose and responsibility not only for his or her job but also for the company as well as the employees who work there. When leaders don’t exhibit this accountability, they can take a nonchalant attitude which can hinder any progress which has been made. Ensuring the appropriate leadership is in place from the start will present a successful blueprint for the outcome of the merger or acquisition. Focusing on Corporate Culture When companies merge there can be a clash of cultures, conflicting beliefs, and different norms. Organizational culture is important because it has been shown to have a significant impact on organizational performance. Cultures that support the missions, goals, and strategies of an organization provide a means for dealing with change and conflicts when they arise. â€Å"Cultural integration is ignored in the majority of business combinations† (Pekala, 2001, p. 32). Research has shown that because of cultural aspects, mergers often encounter difficulties in achieving the goals of the merger. While due diligence is performed on all of the financial aspects of a merger, one major reason that so many mergers fail is a lack of â€Å"cultural fit† (DiGeorgio, 2003, p. 259). Understanding how things are seen in the other cultures, learning mutual respect, and being open to exploring different points of view are the keys to the people factor in any merger or acquisition. â€Å"A sound M&A integration strategic plan is as cultural as it is structural and entails both the welding of hard assets and a delicate/neurosurgery of minds† (Brahy, 2006, p. 54). Corporate culture tends to be viewed as a company having casual Fridays or working alternate work schedules. However, it runs deeper than the external characteristics. Pekala (2001) suggests that â€Å"merger partners need to zero in on the basic ways that decisions get made in their companies and how different approaches can be combined in harmony† (p. 32). The organization’s culture is simply how things are done in the organization. It could be as simple as putting the customer first or driving for excellence in safety. The challenges encountered when merging two different cultures are that either one or the other (or both) needs to change. The issue, then, becomes not just culture awareness, but culture â€Å"change management† (LaMarsh, 2006, p. 9) during the integration period. Building a new culture that combines the best of both previous cultures makes the new organization better, stronger, and more competitive than either of the organizations can be on its own. One way to build a new culture is by having representatives from both companies or organizations list the principles that currently guide its behavior and attitu des. Once this has been captured, both groups can then combine their efforts into a discussion of what type of cultural behavior is necessary to ensure that the best of both worlds is fairly represented. Brahy (2006) even suggest the acquiring company learn another language to help the merging companies feel more at ease and are accepting of their individual culture and traditions. Top management, however, must support this new combined culture. Management cannot force people to work together to build a new culture. As DiGeorgio (2003) notes â€Å"leaders set the tone for the culture and for how relationships are going to unfold in the combined organization† (p. 260). Control over the new corporate culture is critical to the success of a merger. Achieving cultural synergy is possible, but it takes work and effort especially on the side of leadership. Communicating Effectively Communication plays a very critical role at the time of a merger. Communicating with the employees is very important as they should not feel that they have been kept in the dark. It should be remembered that they are the most important assets of an organization and also major stakeholders. Most people understand that mergers and acquisitions take place for business reasons. But it is important to communicate the specific reasons and benefits of the merger. People may not like it, but if they see that it has a legitimate purpose, and the benefits are clear, then there is less resentment and employees are more likely to accept it. Mergers and acquisitions breed uncertainty, ambiguity, and fear among employees. Rumors often begin in organizations before the announcement of any impending merger is formally announced. â€Å". . . Trying to hide bad news such as layoffs by not revealing further details . . can damage morale and lead to turnover† (Messmer, 2006, p. 15). A good communication plan can help avoid complications by ensuring that employees understand the reasons for the deal, the objectives the organization is trying to achieve, and the potential benefits for everyone involved. In mergers and acquisitions, employees typically want answers to the following basic questions: †¢Will I have a job in the new organization? †¢Will my pay, b enefits and work locations change? †¢Will this merger be good for my career? These and other questions must be addressed soon after an announcement is made since productivity can suffer the longer employees have uncertainty. Straightforward, concise, and timely communication assists in building employee commitment and focuses employees on the day-to-day operations of the organization. â€Å". . . Communication minimizes the negative reactions of the acquired employees† (Brahma, 2007, p. 8). The faster employees feel connected to the new organization, the faster they will begin working toward the business objectives and understand what is expected of them. Research shows that organizations using effective communication strategies achieve the best results in productivity and shareholder returns. A good communication strategy is critical to a successful merger or acquisition. A successful plan cannot be reactive but proactive and it has to be included as part of the original merger plans. Nikandrou, Papaleaxandris, and Bourantas (2000) assert that â€Å"frequent communication does not imply that management should communicate every little detail of the process . . . t rather means that management communicates its concerns about employees . . . † (p. 336). An effective communication plan must take into account many elements such as the unique needs of various stakeholders, such as managers, employees, investors, customers, suppliers, and surrounding communities, need to be identified and addressed. Successful mergers only happen when upper managers make themselves visible and accessible to all employees affected by the merger. All e mployees need to experience the buy-in and support of their leaders for the merger or acquisition. Leaders need to be prepared to communicate the answers they do have and be open to stating what answers they do not have yet (Terranova, 2006). For leaders and managers to maintain credibility and trust with employees, they must be open and honest in dealing with these problems rather than choosing not to communicate at all. Engaging Staff and Middle Management People issues are often the most sensitive but also overlooked aspects of mergers and acquisitions. Organizations fail to realize that people have the capability to make or break the deal. It is important for organizations to address the viability of the integration on the human resources front. There are key resources within the organization that can help in handling people issues namely the employees, human resources, and middle management. Frequently there are a lot of people who get overlooked in the acquisition process; specifically lower-level employees who may be able to offer valuable input. They are the people who produce the profits, represent the company, and, ultimately, are the ones that will make the combined company succeed. Proactively engaging the employees can cultivate change agents for the acquisition making the entire process more desirable for all parties involved. â€Å"Managing change is a systematic process that requires moving through a series of action steps to predict and address the risk caused by potential resistance† (LaMarsh, 2006, p. 59). The best way for leadership to actively involve employees is to engage in active feedback sessions. This could involve setting up meetings with key people from various groups in the organizations and soliciting feedback from them (Messmer, 2006). Another suggestion could be to set up a website answer board where employees can ask the integration team or top management questions anonymously and view answers to other questions that have been proposed. Retaining and motivating employees is a major challenge for the human resource department of organizations. Actively engaging human resources early in the process can ensure merger success. Human resource leaders can play a key role in helping senior management identify, involve, and assess the key executives and other critical talent who will be vital for the success of the new business. Human resources can help facilitate employee question and answer meetings and are the most knowledgeable about current policies and procedures. Human resource skills are essential for the facilitation and negotiation processes regarding combining pay and benefits. Human Resource skills are also needed for supporting, counseling, and coaching line managers, who have to supervise their functions during very difficult times. Middle management also plays an important role in ensuring the success of a merger or acquisition. Communications with the middle managers will help to not only alm their fears and concerns but also help them understand what is in store for them. If middle managers are not kept in the information loop, it can lead to false information getting out that could damage morale as well as increase turnover. They need to fully understand the benefits not only to the organization but also to them as individuals. Once concerns have been dealt with, middle managers should be h eld accountable for implementation of the change. Without this accountability, they ultimately will not have a desire to change their behavior. Middle managers should become a positive part of the change process and they should not feel as if it is another program or process that is being forced upon them. Middle managers are the leaders that lower-level employees will look to for timely, accurate information. If approval of the merger is given at this level, then those under them will more than likely not give their approval either. Conclusion Several important lessons have been learned from the merger research conducted throughout this paper. When a merging with another company, managers should be focused on uniting the two companies as quickly as possible. Management should also be aware of the importance of starting the integration planning as soon as a definitive merger candidate is determined. Another important aspect of the merger process is a commitment to change on the part of leadership. Management needs to assign appropriate leadership resources to complete the transition successfully. Communication is also very critical even when there is nothing new to say. It is impossible to over-communicate throughout the merger process. Employees have an almost insatiable desire for information, and misinterpretation of silence and rumors are very common. Mergers are seen as a way to solve problems but it also creates a new set of problems as well as opportunities. Success in mergers and acquisitions rests not only on good strategic and financial planning, but also in the analysis of people issues. Making mergers work successfully is a complicated process which involves not only combining two organizations together but also integrating the people of two organizations with different cultures, attitudes, and mindsets. To ensure success in mergers and acquisitions there needs to be timely merger planning, the right leadership, cultural integration, effective communication, and the involvement of staff and middle management. References Ashkenas, R. , DeMonaco, L. , & Francis, S. (1998). Making the Deal Real: How GE Capital Integrates Acquisitions. Harvard Business Review, 76(1), 165-178. Badrtalei, J. , & Bates, D. (2007). Effect of Organizational Cultures on Mergers and Acquisitions: The Case of Daimler Chrysler. 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