Final Assignment Questions Example | Topics and Well Written Essays - 1250 words

Final Questions - Assignment Example IP is quite an important asset to the people of America for it is of very high economic value as well as an important element of the health and safety of the general American public (NIPRCC, 2011). The counterfeit merchandise therefore does not only pose a threat to the safety and health of the American public but also largely pause a threat to the general economy of the American nation since such products deprive the nation of hundreds of billions and trillions of dollars in terms of lost profits, tax revenue losses, job loss as well as additional product enforcement costs in the different supply chains (NIPRCC, 2011). Counterfeit products such as the pharmaceuticals, automobile parts pauses a great threat to the health and safety of the entire American public. This is because the counterfeit products fail to match the desired quality standards. Increase in counterfeit products has resulted from increased theft of IP which has further threatened the general security of the American nation. Increased theft of the US trade secrets and more so regarding the US war fighter poses a huge threat to the American national security (NIPRCC, 2011). In the year 1999, the president of America William J. Clinton issued an executive order 13133 that was purposely meant to address the issue of unlawful conduct and especially through the use of the internet. The reasoning behind the issue of this order was that if the use of the internet can be properly controlled, crimes such as sale of illegal firearms and explosives via the internet, sale of drugs, child pornography as well as fraud could adequately be controlled by the American government. The unlawful conduct in the internet was to be addressed through a working group selected by the president to resolve the particular issue. As stipulated by the executive order 13133, the working group goals included analyzing the already existing federal laws and assessing the extent to which these laws

Midterm Exam Essay Example for Free

Midterm Exam Essay Utopian Stories After reading the short stories thought this semester, I have found that many of the Utopian stories are thematically the same. A Utopian story is a short story or novel in which someone pays the cost for perfection in society. There are three short stories that are most thematically alike those are: The Lottery by Shirley Jackson in 1948; The Ones Who Walk Away from Omelas by Ursula K. Le Guin in 1975; and Harrison Bergeron by Kurt Vonnegut Jr. in 1961. I have chosen these three stories because someone pays the cost in each of these stories and the results in each of them are the same. The elements of plot, characterizations, settings and symbols of each of these stories are alike. The story The Lottery by Shirley Jackson is about village who stones a villager, old or young, once a year, for good crops and harvest. This person is chosen by a draw from a box. As in the lottery, the short story entitled The Ones Who Walk Away from Omelas by Ursula K Le Guin is about a community that isolates and eglects a child for a perfect community and in Harrison Bergeron by Kurt Vonnegut Jr. he community is restrained by handicaps so that everyone can be equally perfect. All of these stories plots have the one person that is tortured or killed for everyone elses happiness. Someone has to die or be neglected for perfection, they become sacrifices and not willingly. They are chosen unfairly or are held back of their gifts. The characterizations in each of these stories are simply innocent. None of the main characters had a choice and if they rebelled they were still put to death. In The Lottery Mrs. Hutchinson seems to be a normal mother and a great wife. She was doing as women in that time should have done, and she was late because she was doing the dishes. She was innocent. In The Ones Who Walk Away from Omelas a young boy is neglected and frowned upon as a sacrifice. It is not said that this boy had done anything to deserve this, or that he was chosen because of his behavior. He was innocent and very young, most likely pure. In Harrison Bergeron both the mother and father were a normal family however the father had to wear a handicap to make im less intelligent and Harrison was a normal boy that was smart and talented however he disagreed and paid a cost. I believe that all the characters were treated unfairly. They all seemed to be nice and normal. The settings and Symbols of each of the stories are in a small village or community. A smaller community is easier to control and persuade. I think that the symbols are similar they are all restraints in a way or isolation. Stones were used in the lottery and when thinking of a stone I think of something cold and hard and very uncomfortable. In the Ones Who Walk Away from Omelas they used a basement to keep the boy in. When thinking of a basement I think of a dark cold place also very hard and uncomfortable. In Harrison Bergeron they used handicaps that were probably uncomfortable and the loud sounds in their all very uncomfortable. In conclusion I believe that these three stories were all thematically alike. The Lottery, The Ones Who Walk away from Omelas, and Harrison Bergeron were all great stories and I would recommend them to anyone who would like to read a utopian story.

Plastic Arts Education in Ecuador

Plastic Arts Education in Ecuador The plastics arts is essential tool to stimulate the creative ability and aesthetic sensibility in Ecuadorian preschool students In Ecuador, the implementation of plastic arts in the different schools is very important because its essential tool to stimulate the creative ability and aesthetic sensibility of the students. Plastic arts techniques, influence in the development of the childs fine motor skills as they are part of his daily life. The childs brain have a capacity of imagine and create anything to this age. The best method to that a child learned is the observation, perception, and representation of analysis. This fosters the development of talents and creativity that are necessary incentives for the child learning. The teaching methods help to acquire new information that the brain could use in the future to construct ideas, answers, or give solutions. Plastic arts in the initial education are a priority need for the child, because during the plastic workshops they have the opportunity to creative and act. Its considered to be dynamic process because the path it traverses is not linear. The education al system at this age should function as a transmitter, sifter and maintainer of cultural goods, creating interrelations with art. Plastic arts are a motivating tool that helps in the different areas of cognitive and preferential development. Integral development, motivating skills, capacities, and improving observation analysis are some of the benefits of plastic art. Plastic art techniques, if performed daily, influence in the development of the childs fine motor skills as they are part of their daily life, and failing to use them in an appropriate and timely manner will deploy a series of weaknesses and shortcomings in the development of skills engines that should strengthen at this age. The expression of human emotions and situations through the use of material elements aid creativity in children as well. Furthermore, this contributes in a really significant way in the intellectual and emotional formation of the people in general. Due to the fact that Ecuadorian schools have a deficit in creativity, plastic arts is essential tool that will stimulate the creative ability and aesthetic sensibility in Ecuadoria n preschool students. Art is a gift the human beings have at birth and this provides the opportunity to increase the capacity for action and experimentation to face a society full of changes. Art is a social product par excellence, where the influence of concrete reality predominates (Hinostroza, 2000, p.12). Because art is expressed and communicated values, customs, ideals and aspirations that mark the social development of a people and enrich the artistic expression to the people in the world. Art is the expression and manifestation of human feeling, through the line, color, movement, rhythm and melody according to the objective reality where it develops (Aquiles, 2000, p.10). Then, it will be understood that manifestation of human activity that is expressed in a way subjective, unique and irreproducible way to realize an artistic creation, be it real or imaginary communicating feelings and sensations that is the result of its intelligence and creativity. Art creates a domain in the symbolic life of the child, which encourages them to experiment with ideas and feelings while providing pleasure, which is a central goal in the development of emotional-affective life (Setchovich, 1999, p.18). First, the method of teaching in pre-school schools in Ecuador is quite standardized and systematic. For a better development of its initial education, Ecuador has agreed to the update curriculum, based on games and arts as methodological lines to organize, promote, and run experiences, starting the recognition that they are actors in their own learning. (Arias, 2013). With this in mind, implementing an innovative change in the schools would raise methods of observation, perception, and representation of analysis. This fosters learning and the development of talents and creativity that are necessary incentives for the childs interest in learning to act as motor. The curiosity of a child is enormous. Accordingly, when a child is curious, he or she observes and analyzes the different things that are around them. In fact, to promote learning, talent development and creativity is a key part of the teaching in the preschool. Indeed, the school should be a privileged place of learning and personal growth for a child. Education is a social process that enables the development of each persons potential. This process occurs in life and for life, in interaction with the environment, where the child develops his aptitudes, values and feelings (Fundacià ³n, 2013). Plastic arts should be considered as important methodological strategies in the process of strengthening the fine motor, because they offer plastic materials that can be manipulated freely and spontaneously with their hands promoting the joy of create and develop the imagination through its free expression. In plastic arts the children play with the material, the colors, the space, the images and the textures. Then they will begin to realize them expressing consciously what they feel, think and see. As a result the teaching methods help to acquire new information that the brain could use in the future to construct ideas, answers, or give solutions. Also, teachers will also expand their knowledge and establish strategies in a relevant way for this area and will be able to meet the needs of infants in a harmonious inter-learning relationship, strengthening the initial education pedagogical model which in turn will help the acquisition of knowledge, skills and values in children. Plasti c arts in the initial education are a priority for the child, because during the plastic workshops not only is a reality is perceived, but also they have the opportunity to create and act. Second, the stimulation of the creative ability in the children ages 3 to 4 years old is very important. The complex activities in this age, prevent the maturation of the fine motor, that if they are not corrected to time could generate difficulties in the initiation of the writing as it is: driving description, loose graphics, impulsiveness or clumsy writing giving rise to being hypertonic or hypotonic as their muscles have not reached maturity and still have no physical or emotional stability (Arias, 2013). Due to the fact that the childrens brain have a capacity of imagine and create anything to this age. When they do different activities like reading a history book the brain is obliged to imagine the things that they read. Besides, this the children make a drawing when their brains have a connection with the imagination. The plastic arts are important because it are not simple activities of reproduction of stereotypes, colored drawing, and, decoration or filling of figures that o nly thicken the work folder. But rather, plastic arts are transforming processes of the educational task that aim at a cognitive, socio-affective and motor development of the boy and the girl, forming it integrally. In fact, the emotions of children are important to creativity. Even through their emotions they can recreate the different scenes that involve being happy, sad, angry, etc. With this in mind, imagination can solve problems and help them practice self-discipline and develop both affection and compassion. Therefore the most important in a child is to create imaginary situations where they can act freely and they can solve problems. In addition, it is considered a dynamic process because the path it traverses is not linear. Thus, the educational system at this age should function as a transmitter, sifter and maintainer of cultural goods, creating interrelations with art to offer meaningful learning experiences to the child. Finally, improving aesthetic sensibility in initial education through the ability to understand the beauty of life and in art provides a comprehensive approach to childrens harmonic development. The initial education in arts where there is intensive accumulation of physical, mental, and spiritual faculties of children of 3-4 years accustomed causes good cognitive development. Nowadays, the formation of intellectual personality in preschool children is as important as the development artistic skills. In fact, it appears that the attitude for the composition of poems, stories, songs, etc.is becoming more promising. Thus, the aesthetic interests of the child in the expression of the universality of an aesthetic activity that is associated with art should be relaxed, cheerful, creative imagination, and initiative. But, the problem nowadays is that teachers do not use adequate methodological strategies to develop fine motor skills in the age of 3 to 4 years, because they work without grea ter organization and consideration of the needs and rhythm of development of children. (Arias, 2013). In conclusion, the initial education in arts where there is intensive accumulation of physical, mental, and spiritual faculties of children of 3-4 years accustomed causes good cognitive development. All students can improve if establishing techniques of the plastics arts teachers in initial education. The implementation of these arts in the Ecuadorian preschool will help with the development of creativity and innovation. Also, teachers will benefit by integrating their knowledge, as children today require an education with quality and warmth, where they offer meaningful experiences that allow their comprehensive training. Plastic arts contribute with agile and dynamic processes for the development of fine motor skills as they allow the application of different plastic techniques in a creative way that promotes segmental independence. Creating experiences of learning enriching for the integral formation of infant, which teachers do not give due importance within the learning process. Therefore, teachers are encouraged to incorporate into the educational process a methodological guide on plastic techniques to apply and improve the development of fine motor skills in children aged 3 to 4 years. References Aquiles, E. (2000). Art and creativity in the Education. Arias, R. (2013). Plastic Arts for the development to children. Quito. E. (2012). The Finland Phenomenon The System Educative Finland. Retrieved July 20, 2016, from https://www.youtube.com/watch?v=aAvle_y1mgI Fundacià ³n. (2013). Down21.org. Retrieved from http://www.down21.org/educ_psc/educacion/atencion_temprana/cognitiva.htm Hinostroza, E. (2000). Art and Creativity. Ossola, A. (2014, November 12). Scientists are more creative than you might imagine. Retrieved July 28, 2016, from http://www.theatlantic.com/education/archive/2014/11/the-creative-scientist/382633/ Riquelme, A. (1986). Artes Plasticas. Universitaria. Setchovich, G. (1999). Plastic Expresion and Creativity. Mexico.

Old and Young Frankenstein Essay -- Frankenstein essays

Old and Young Frankenstein      Ã‚   Something that interested me greatly about Mary Shelley's Frankenstein was the treatment that the creature received from Frankenstein and the other people around him. I often wonder how things would have turned out had he been treated with a little bit of humanism and compassion, especially by his creator. What if Frankenstein had taken the responsibility as the creature's parent and created him with a little humanism and kindness? Would the creature have vowed such revenge and killed everyone Victor cared about? I'm going to use the film Young Frankenstein from 1974 to show what happened when the creature, created this time by Victor's grandson, Frederick, received better treatment. Although the film is meant as a parody of all the films based on the novel, underlying this humor are more serious points, one of which is the concern with the way the creature is considered.    The first step is to make a comparison between the film and the novel, and to look at the 1931 film version, since the humor in Young Frankenstein seems to be greatly parodying that film. The Frankenstein in this film version is Frederick, the grandson of Victor, who is a lecturer on neurosurgeons in New York. He receives news of his grandfather's will, and he goes off to Transylvania to claim his ancestral estate, there finding the plans of his grandfather's for the construction of a creature. The plot is very loosely based on Shelley's Frankenstein as a model, but it's continued into the twentieth century with a different generation. Of course, when looking at the novel, it seems quite impossible that Victor could possibly have had a ... ...ral times, at the risk of his own life, as most parent would do for their children. Victor from Shelley's novel never even considered the creature a fellow being and showed no responsibility whatsoever to the creature. This creature felt unloved by his father, and plotted revenge on Victor, taking his family away, a family the creature could never experience. This comparison shows how if Victor had once considered the feelings of the creature, everything could have turned out so much differently.    Works Cited Alpert, Hollis. "Comedy: The New King." Saturday Review World 2 Nov. 1974: 52- 3. "Blazing Brooks." Show Business and TV. Time 13 Jan. 1975: 56. Shelley, Mary. Frankenstein. New York: Bedford Books of St. Martin's Press, 1992. Young Frankenstein. Dir. Mel Brooks. 20th Century Fox Film Corporation, 1974      

International Management Essay

Chapter 1 Q1. What are the differences between international, global, and multidomestic companies? Multinational company : An organization with multi country affiliates, each of which formulates its own business strategy based on perceived market differences. Global company : An organization that attempts to standardize and integrate operations worldwide in all functional areas. International company : Either a global or a multi domestic company Q2. Give examples to show how an international business manager might manipulate one of the controllable forces in answer to a change in the uncontrollable forces. Uncontrollable forces(External forces) : Physical/political/Sociocultural/Competitive/Economic/Socioeconomic/Distributive/Financial/Legal Manager can lobby for a changing a law and promoting a new product which requires changes in a cultural attitude. Q3. â€Å"A nation whose GNI is smaller than the sales volume of a global firm is in no position to enforce its wishes on the local subsidiary of that firm.† True or False? Explain. False. GNI is different from sales volume in terms of a calculation method. GNI is a measure of value added, not sales. And each subsidiary of global firms is also a local company that must comply with law in the country where it is located. Q4. Discuss the forces that are leading international firms to the globalization of their sourcing, production, and marketing. 5 major forces : Political, Technological, Market, Cost, and Competitive Followings are the five change-based drivers that are leading international firms to globalize their operations, with an example for each kind : (1)political-preferential trading agreements, (2)technological-advances in communications technology, (3)market-global firms become global customers, (4)cost-globalization of product line and production helps reduce costs by achieving economies of scale, and (5)competitive-firms are defending their home markets from foreign competitors by entering the foreign competitors’ markets. Q5. Business is business, and every firm has to produce and market its goods. Why, then, might managers be unable to apply the techniques and concepts they have learned in their own country to other areas of the world? Despite firms have knowledges and skills for business in own country, they might not be successful in foreign countries that have their own cultures and trends of consumption. Good example for this question is Wal-mart in Korea. The international environmental defined as the interactions (1)between the domestic environmental forces and the foreign environmental forces and (2)between the foreign environmental forces of two countries when an affiliate in one country does business with customers in another. Q6. What do you believe makes foreign business activities more complex than purely domestic ones? To make a decision in foreign country is more difficult than home country. They not only must take into account the domestic forces bot also must evaluate the influence of 10 foreign national environments. Q7. Discuss some possible conflicts between host governments and foreign-owned companies. I am the opinion that restrictions for subsidiaries of foreign companies are sensitive problems. For example, If a certain nation prohibits funding for foreign companies, conflicts will increase. And complains of foreign companies will also increase. On the other hands, If a certain nation is open to the funding for foreign companies, there will be some troubles with foreign companies about taxes and incentives. Q8. Why, in your opinion, do the authors regard the use of the self-reference criterion as â€Å"probably the biggest cause of international business blunders†? Can you think of an example? If I do business in overseas, I don’t know everything exactly concerning about foreign country’s culture, policy, social situations, economy, and trends. So, doing business well in foreign country is very difficult. Self-reference criterion means unconscious reference to one’s own cultural values when judging behaviors of others in a new and different environment. Managers’ unfamiliarity with other cultures, to make matters worse, some managers will ascribe to others their own preferences and reactions. For example, selling beefs by self-reference criterion business in Muslim countries will be failed. Q9. You have decided to take a job in your hometown after graduation. Why should you study international business? Owing to globalization trends in the worlds, and importance of relationship between domestic and foreign country, we have to study hard international business. I will take a job in home country. But I might have opportunities for business in overseas and meeting foreign buyers. Thus, to obtain other countries values, cultures, policies, and trends by studying international business is very important for me. Q10. Although forces in the foreign environment are the same as those in the domestic environment, they operate differently. Why is this so? I think that domestic environmental and foreign environmental are different in terms of domestic and foreign’s culture, and international environmental. When comparing with domestic environmental, operating company in the foreign country has different environments such as company’s market share, foreigner’s own culture, and growth in global. And domestic environmental is also originated in home country’s culture which effect on the companies. Q11. What examples of globalization can you identify within your community? How would you classify each of these examples(e.g., international investment, international trade)? – International investment : I could feel the globalization by watching the Coka-Cola in every super market. – International trade : FTA(Korea and Chile) is a good example for international trade. This free trade agreements is mutually profitable for each nations Q12. Why is there opposition to globalization of trade and integration of the world’s economy? Please assess the major arguments for and against such globalization efforts. I think that this argument against globalization is originated by the different people’s valules and concepts. This argument can be examined by three primary ones (1) that globalization has produced uneven results across nations and people (2) that globalization has had deleterious effects on labor and labor standards (3) that globalization has contributed to a decline in environmental and health conditions. Chapter 2 Q1. How large and important a role do small and mediumsize enterprises play in generating export sales? The proportion of generating export sales from the SMEs in the U.S.A increased constantly. According to the Exporter Data Base in the text book, Of total exporters, 218,382 were SMEs(small and medium-size enterprises). It is 97 percent of all U.S.A exporters. Q2. How has trade in merchandise and services changed over the past decade? What have been the major trends? How might this information be of value to a manager? Although the economic growth of global has slowdowned in the 2000, the absolute value of their merchandise exports increased, the proportion of exports coming from the regions of Latin America, Africa, and Middle East decreased between 1980 and 2004. The largest exporters and importers of merchandise are generally developed countries. The results of services exports are similar with merchandise exports. Regionalization of trade is increasing more and more. It is accounted for over 70 percent by 2005. Further, South and East Asia’s share of the world’s manufacturing value added has nearly quadrupled since 1980. From this information the managers may be prepared for the increased competition from exports to their own domestic markets. Q3. â€Å"The greater part of international trade consists of an exchange of raw materials from developing nations for manufactured goods from developed nations.† True? or false? Explain. False. This is correct partially. More than half the exports from developing nations go to developed countries. Also, over 70% of exports from developed economies go to other industrialized nations Q4. â€Å"The volume of exports has increased, but the ranking of U.S. trading partners in order of importance remains the same year after year.† True or false? Of what use in this information to a manager? False. Of the top 15 nations, 8 have remained on the list over the years listed, including Canada, Mexico, Japan, Germany, the United Kingdom, France, Italy, and Brazil. However, each nation’s ranking has changed over time, and some new nations have been added to replace other nations that have become relatively less important as trade partners. Q5. What is the value of analyzing foreign trade data? For example, what should the quadrupling in real terms of exports in less than 35 years indicate to managers? The analysis information would be helpful to anyone just starting to search outside the home market for new business opportunities by studying the general growth and direction of trade and analyzing major trading partners. Q6. Knowing that a nation is a major trading partner of another signifies what to a marketing analyst? There are advantages to focusing attention on a nation that is already a sizable purchaser of another country – The business climate in the importing nation is relatively favorable – Export and import regulations are not insurmountable – There should be no strong cultural objections to buying that nation’s good – Satisfactory transportation facilities have already been established Q7. What are the different components of foreign investment? Why has the distinction between them begun to blur in recent years? It can be divided into two components : First is portfolio investment and second is direct investment. 1. Portfolio investment : The purchase of stocks and bonds to obtain a return on the funds invested. 2. Direct investment : The purchase of sufficient stock in a firm to obtain significant management control. Because of globalization in recent years, the distinction beetween them begun to blur. Q8. How has the level and direction of FDI changed over the past decade, both overall and in terms of annual outflows and inflows? Why would this information be of relevance to managers? Annual FDI outflows hit a historical high in 2000-$1,201 billion. However, By 2002, the total was only $647 billion, only about 54 percent of the 2000  figure because of a subsequent decline in the overall level of annual FDI flows. Outflows significantly increased to $730 billion by 2004. The vast proportion of outward FDI, over 87 percent, originates from the developed countries. This data has been associated with mergers, acquisitions; purchasing of companies in other nations. In annual inflows’ case, developed countries have been alse occupying over 70 percent of annual FDI investments. Recently for managers, important issues related to inflows are trend that proportion of Asian FDI that has been directed to China and its territories. Their combined proportion of Asian FDI grew from 52.4 percent during 1985-1995 to 75 percent in 2004. Q9. Why has FDI historically followed foreign trade? What is it about the new international business environment that is causing this path to market expansion to change? Reason is that engaging in foreign trade is typically less costly and less risky than making a direct investment into foreign markets. Also, management can expand the business in small increments rather than through the considerably greater amounts of investment and market size that a foreign production facility requires. Generally, because the local market would not be large enough to support local production by all the firms exporting to it, the situation would become one of seeing who could begin manufacturing there first. Q10. Why has most foreign direct investment gone into acquiring existing companies rather than establishing new ones? 1) Corporate restructuring in the United States caused management to put on the market businesses or other assets. 2) Foreign companies wanted to gain rapid access in the United States to advanced technology, especially in computers and communications 3) Management of foreign firms felt that entrance into the large and prosperous American market could be more successful 4) Increased international competitive pressures also could be reasons for this question. Q11. What are the main reasons that a firm might enter into foreign markets? First reason is to increase their profits and sales (Enter new markets / Obtain greater profits / Test market) Second is to protect markets, profits, and sales (Protect domestic market / Attack in competitor’s home market / Protect foreign markets / Guarantee supply of raw materials / Acquire technology and management know-how / geographic diversification / Satisfy management’s desire for expansion) Q12. What are in-bond plants? Why might they be an attractive alternative for a manufacturing company? In-bond plants, often called maquiladoras, is production facilities in Mexico that temporarily import raw materials, components, or parts duty-free to be manufactured, processed, or assembled with less expensive local labor, after which the finished or semifinished product is exported. Because the Mexican government permitted duty-free importation of parts and materials from the USA within the in-bond plant, provided that the finished products were re-exported. Q13. How can a firm protect its domestic market by investing overseas? When companies face competitor which has lower price advantage in domestic, companies can break this difficult situation by using advantages of overseas investments.(cheap labor cost, raw material, and etc.) Q14. What are the seven dimensions along which management can globalize? How is it possible for a firm to be multidomesic on one dimension of globalization and global on another? There are at least seven dimensions : 1) product, 2) market, 3) promotion, 4) where value is added to the product, 5) competitive strategy, 6) use of non-home-country personnel, and 7) extent of global ownership in the firm. The possibilities range from zero standardization(multidomestic) to standardization along all seven dimensions(completely global). The challenge for company managers is to determine how far the firm should go with each one. Chapter 3 Q1. Describe mercantilism, and explain why mercantilism has been argued to be a poor approach to use in order to promote economic development and prosperity. Mercantilism is an economic system (Europe in 18th century) to increase a nation’s wealth by government regulation of all of the nation’s commercial interests. Mercantilism that stressed governments’ promotion of limitation of imports from other nations and internal economies in order to improve tax revenues; popular during 17th and 18th centuries in Europe. The Paradox of Mercantilism is to be â€Å"rich† a country needed to have a lot of poor people. Mercantilism failed to understand the notions of absolute advantage and comparative advantage and the benefits of trade. For instance, Portugal was a far more efficient producer of wine than England, while in England it was relatively cheaper to produce cloth. Thus if Portugal specialized in wine and England in cloth, both states would end up better off if they traded. This is an example of the reciprocal benefits of trade due to a comparative advantage. In modern economic theory, trade is not a zero-sum game of competition, because both sides can benefit. Q2. a. Explain Adam Smith’s theory of absolute advantage. The ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service. Entities with absolute advantages can produce something using a smaller number of inputs than another party producing the same product. As such, absolute advantage can reduce costs and boost profits. b. How does Ricardo’s theory of comparative advantage differ from the theory of absolute advantage? Absolute advantage and comparative advantage are two basic concepts to international trade. Under absolute advantage, one country can produce more output per unit of productive input than another. With comparative advantage, if one country has an absolute (dis)advantage in every type of output, the other might benefit from specializing in and exporting those products, if any exist. A country has an absolute advantage economically over another, in a particular good, when it can produce that good at a lower cost. Using the same input of resources a country with an absolute advantage will have greater output. Assuming this one good is the only item in the market, beneficial trade is impossible. An absolute advantage is one where trade is not mutually beneficial, as opposed to a comparative advantage where trade is mutually beneficial. A country has a comparative advantage in the production of a good if it can produce that good at a lower opportunity cost relative to another country. The theory of comparative advantage explains why it can be beneficial for two parties (countries, regions, individuals and so on) to trade if one has a lower relative cost of producing some good. What matters is not the absolute cost of production but the opportunity cost, which measures how much production of one good, is reduced to produce one more unit of the other good. c. Using the example from the chapter, explain why no gains from specialization exist(and thus why two countries could not trade in a manner that benefits each) if there is no pattern of comparative advantage(if the ratios of soybeans to cloth production are the same in the two countries). China has an absolute advantage in producing both soybeans and cloth. If there is a trade between 2 countries according to comparative advantage theory, United States will have 4 tons of soybeans and 5 bolts of cloth. On the other hand, China will have 4 tons of soybeans and 5 bolts of cloth. Therefore, china will have a loss for their total soybeans compared with before trading the products. Q3. Consider the case in which a country does not have a comparative advantage in the production of a product, such as apples, because its soils or climate are not appropriate. Explain who would be likely to favor free trade, and who would be likely to oppose free trade, in this product. – Favor to free trade : countries which has a comparative advantage in production of a product, such as apples. – Opposite to free trade : countries which has a comparative disadvantage in production of a product, such as apples. Q4. What is the relationship between the Heckscher-Ohlin factor endowment theory and the theories in question 2? It builds on David Ricardo’s theory of comparative advantage by predicting patterns of commerce and production based on the factor endowments of a trading region. The model essentially says that countries will export products that utilize their abundant and cheap factors of production and import products that utilize the countries’ scarce factors. Q5. Why were Leontief’s empirical results considered to be paradoxical? In 1954, Leontief found that the U.S. (the most capital-abundant country in the world by any criteria) exported labor-intensive commodities and imported capital-intensive commodities, in contradiction with Heckscher-Ohlin theory. Q6. Why does most of the world’s international trade take place between economies that are similar in their level of economic development? According to the Linder’s demand-oriented theory, The reason is 1) income levels of both nations 2) overlapping demand. Because an entrepreneur will produce goods to meet demand, the kinds of products manufactured reflect the country’s level of income per capital. Goods produced for domestic  consumption will eventually be exported, due to similarity of income levels and therefore demand in other countries. Q7. Name some products that you believe have passed through the four stages of the international product life cycle. Telegraphy. I read recently how Western Union sent the last telex / telegram in 2006, so that definitely qualifies to decline. You can literally see how this expanded based upon rail and cable laying; and didn’t start in all places on earth (let alone a single country) simultaneously; and continued to be a viable business in some countries long after voice, fax, then email and SMS replaced such. Q8. What factors increase the cost of trading goods and services across borders? Can these costs be reduced? How? I think that import/export tariffs, subsidies, expensive transaction costs, and etc are factors which increase the cost of trading goods and services across borders. This factors which occur costs can be reduced by free trade agreements(FTA) or regional trade agreements such as NAFTA, EU. It will reduce unnecessary costs and encourage trading among nations. Q9. It seems that free, unrestricted international trade, in which each nation produces and exports products for which it has a comparative advantage, will enable everyone to have a higher level of living. Why, then, does every country have import duty restrictions? Because many nation did not produce other nation’s product and the nation has lower qualities or a lot of cost better than other nation’s product. In case that many nation needs other nation’s product. At the trading among the nations, there are a lot of problems. For example, economical, historical problems, political and so on. If a nation has infant industry. For example, farming which is needed to develop for domestic market, The nation can be protect the industry from competitive companies by having import duty restrictions. And then, their nation’s infrastructure can be collapse. For  fair competition, nation have to improve the balance of the trading. Q10. â€Å"We certainly need defense industries, and we must protect them from import competition by placing restrictions on competitive imports.† True or false? Is there an alternative to trade restrictions that might make more economic sense? I think that it may be not true. All is not certainly, If nation’s competitive industry help income of nation that select and improve nation’s industry. A nation trading needs of basic infrastructure among the nations. And then, About tariff of the trading remove or a little portion levy. Q11. Suppose that a country negotiates an agreement with its trade partners to restrict its imports through voluntary export restrictions(VERs). What impacts might be expected from implementing such VERs? VER(Voluntary Export Restriction) mean’s that exporting nation restricted quantities of export and list of article. In case that at nation’s exporting product surplus or insufficiency in a given situation. In a surplus situation, nation should be restricted for their quantities. In a insufficiency situation, nation make some increasing demand and higher cost. Q12. â€Å"Workers are paid $20 an hour in the United States but only $4 in Taiwan. Of course we can’t compete. We need to protect our jobs from cheap foreign labor.† What are some possible problems with this statement? In a given situation, cheaper product come round in our nation. At the same time, our nation’s job of labor disappeared. LDC(Lower Develope Country) has cheaper wage that supply more profi better than industrialization nation. But Many industrialization nation has higher wage and lower productivity. Production costs may actually be higher in a low-wage. Q13. There are two general classifications of import duties : tariff and non-tariff barriers. a. Describe the various types of tariff barriers. An ad valorem tariff is a set percentage of the value of the good that is being imported. Sometimes these are problematic, as when the international price of a good falls, so does the tariff, and domestic industries become more vulnerable to competition. Conversely, when the price of a good rises on the international market so does the tariff, but a country is often less interested in protection when the price is higher. A specific tariff, is a tariff of a specific amount of money that does not vary with the price of the good. These tariffs are vulnerable to changes in the market or inflation unless updated periodically. A revenue tariff is a set of rates designed primarily to raise money for the government. A tariff on coffee imports imposed by countries where coffee cannot be grown, for example raises a steady flow of revenue. A protective tariff is intended to artificially inflate prices of imports and protect domestic industries from foreign competition (see also effective rate of protection,) especially from competitors whose host nations allow them to operate under conditions that are illegal in the protected nation, or who subsidize their exports. b. What are some of the nontariff barriers? Non-tariff barriers may also be in the form of product standards and technical regulations, which may dictate particular manufacturing guidelines or product specifications. If products do not meet the given requirements, they will face an import ban. Examples of this sort are the European Union restrictions on genetically-modified organisms or beef treated with growth hormones. Q14. â€Å"A firm entering the market first will soon dominate it, and the large market share it acquires will enable it to obtain the benefits of economies of scale.† True or false? Remember that there are at least two studies showing that first movers held large market shares. True. First-mover advantage theory is economic and strategic advantage gained by being the first company to enter an industry. However, If only the firm possess core strategies such as superior technology, knowledge about local market, and other advantages over indigenous firms. It could be failure that you awkwardly enter the market for the first mover without these strategies. This conclusion will bring about more advantage opportunities to the second mover who has been indirectly experienced the failure of first mover. It is never true that only the first mover strategy is the best theory. Q15. According to theories presented in this chapter, why do companies engage in foreign direct investment? For defensive reason, Refer to the international product life cycle theory. International investement as well as international trade. Refer to the eclectic theory of international production, the company must have location and ownership advantages to invest in a foreign plant. It will invest where it is most profitable in internalize. It is monopolistic advantage. Chapter 4 Q1. What are some reasons that business people should be aware of important international institutions? International institutions have resolved conflicts among nations. It is very important to make business internationally. International institutions has also valuable data which apply to business. Q2. Even though the UN is best known for peace keeping missions, it has many agencies involved in activities affecting business. In your judgement, do these activities justify support for the UN? Would it be better if the activities of these agencies were done by private entities such as trade groups? The UN has helped some countries which need support to make their industry by funding and teaching knowledges. This activities justify support for the UN because UN has a number of informations which is originated by connections of other counties. Q3. How did the WTO come into existence? What purpose does it serve? Would bilateral trading agreements work better than the multilateral WTO approach? The Bretton Woods Conference of 1944 proposed the creation of an International Trade Organization (ITO) to establish rules and regulations for trade between countries. The ITO charter was agreed at the UN Conference on Trade and Employment in Havana in March 1948, but was blocked by the U.S. Senate (WTO, 2004b). Some historians have argued that the failure may have resulted from fears within the American business community that the International Trade Organization could be used to regulate, rather than liberate, big business (Lisa Wilkins, 1997; Helen Milner 1993). Only one element of the ITO survived: the General Agreement on Tariffs and Trade (GATT). Seven rounds of negotiations occurred under GATT before the eighth round – the Uruguay Round – concluded in 1995 with the establishment of the WTO as the GATT’s replacement. The GATT principles and agreements were adopted by the WTO, which was charged with administering and extending them. Unlike the GATT, the WTO has a substantial institutional structure. I think that the multilateral trading agreements is better than bilateral trading agreements because there will be no discrimination to all WTO members. Q4. What are the four main organs of the EU, and what is the purpose of each? 1. European Parliament: to pass European laws, voice of the European people in EU 2. Council of European Union: policy setting, voice of the member states, where decisions on foreign policy and security issues are made 3. European Commission: represents the interest of Europe as a whole, runs the day to day operations of EU 4. European Court of Justice: court that decides cases related to EU policies Q5. What is the impact of the EU on business? The European Union has had a significant influence on international trade, especially in respect of the countries that are member states in the Union. Internally, trading between the member states within the European Union has become less restrictive, because of the laws and regulations passed. Globally, the European Union has created a power that can compete internationally with superpowers such as the United States. Q6. The U.S. Congress approved the North American Free Trade Agreement despite strong opposition from organized labor. Why would labor have opposed NAFTA? I think a reason why is that they (organized labor) want to obtain working visa in North America. Q7. What is the importance of the OECD for business? OECD promotes economic expansion and provides a number of economic information/researches which can support and help its country members. Q8. Mercosur’s major trading partner is the EU rather than the United States. Why might this be the case? Mercosur is based on the EU and can trade several countries in the EU. Q9. How might a small business person in Des Moines, Iowa, who is exporting agricultural products find useful the international institutions and agreements that this chapter describes? 1. To find out which countries is available for a business person to export their productions. 2. To protect their products from other foreign competitors.

THE ATLANTIC SLAVE TRADE

THE ATLANTIC SLAVE TRADE Introduction/Thesis statement Atlantic slave trade began in 1444 and it led to the massive movement of the African slaves to the western nations with the sole aim of providing cheap labor. The movement of slaves from Africa is termed as one of the major migrations to have happened in human history.Advertising We will write a custom critical writing sample on The Atlantic Slave Trade specifically for you for only $16.05 $11/page Learn More The Africans were forcefully moved to the western hemisphere and in addition, these slaves were looked down upon as inferior. The Atlantic slave trade had a significant impact on Africa as well as the United States of America. The Africa Continent was deprived manpower whereas the United States of America was able to boost its economic growth due to the presence of cheap labor. Due to revolution in the Dutch Republic, many citizens entered into the slave trade, which is mainly considered to have been as a result of accident rather than by design. This paper will therefore seek to review Postma’s book: The Dutch in the Atlantic Slave Trade, 1600-1815, giving the implications and the participation of the Dutch in the transatlantic slave trade. The author’s criticism of the historiography The author criticizes the historiography of the Dutch participation in the transatlantic slave trade by pointing out that the participation of the Dutch in this trade was not given the attention that it deserved. The participation of the Dutch covers approximately two centuries all filled with diverse complexity ranging from the geographical dimensions to the demographic and complicated economies.Advertising Looking for critical writing on african american? Let's see if we can help you! Get your first paper with 15% OFF Learn More The main aim of the Author writing this book was to bring to light the participation of the Dutch in the transatlantic trade and giving it the attention i t deserved. Rawley and Behrendt in their book: The transatlantic slave trade: A history, points out that the Dutch participated in the slave trade as early as 1528 when the slaves were being transported to the Spanish colonies (2005). The author refutes this by elaborating that the transporters of these slaves were the Germans and or the Flemings who originated from Belgium. In the light of the above, the author adds that the earliest participation of the Dutch in the transatlantic slave trade occurred in 1596 (Postma, 2009). The evidence that the author uses to support their argument Postma (2009) points out that in the early stages of the slave trade in Africa, the main participants of the slave trade, mainly the Portuguese could send the expedition to the west coast of Africa to capture the slaves and the author points out that the number of slaves that were captured was approximately two hundred and thirty five slaves all of whom were sent to Portugal. The author tries to justif y the participation of the Dutch in the transatlantic slave trade by pointing out that in 1596, Rotterdam Skipper and Pieter Van Hagen captured approximately one hundred and thirty slaves from Africa and moved them to Middelburg, the capital of Zeeland. This information is credible since it provides prove of the Dutch’s participation in the slave trade. Ways in which the chapters of the book relate to the thesis Postma has organized the book in various chapters each of which relate to the transatlantic trade. In chapter one and two the author tries to explain the start of the slave trade and the causes of such trade.Advertising We will write a custom critical writing sample on The Atlantic Slave Trade specifically for you for only $16.05 $11/page Learn More In the three subsequent chapters, the author shifts his focus to Africa and explores the Presence of the Dutch in Africa. In chapters six and seven the author tries to examine the conditions that made slave trade favorable for example the need for labor in the western nations as well as the presence of people from Africa who could provide the cheap labor. In the last four chapters the author sheds light into how the slaves were housed and fed. These slaves were mistreated in the workplaces and they lived in very poor conditions. Perhaps the author points out the presence of slave have raised many morality questions in the modern times. Some information that was provide by the author are not necessary or example his explanation on the roe of the Catholic Church in the slave trade has little significance in the thesis. Criticism of the author’s work The events that took place during the transatlantic slave trade are clearly explained as well as the factors that led to the start of the slave trade. The participation of the Dutch in the Slave trade was due to the establishment of the large farms in the Dutch Republic that it required extensive source of labor. The implica tions that the slave trade had on the western economies are explained but one of the major shortcomings of this book is its failure to elaborate on the implications that the slave trade had on the African continent. The African continent was deprived of man power since strong men were taken away thus the labor force declined drastically. Families were also separated which resulted in psychological suffering among the family members.Advertising Looking for critical writing on african american? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion In conclusion, it is true to say that the author has contributed to the literature of the event because he gives insights into what happened during the transatlantic slave trade as well as the implications of this trade on the western economies. The book can form the basis for other studies since the future scholars may endeavor to learn more about the implications that this trade had, politically, economically and socially to both the African continent as well as to the western hemisphere. The transatlantic slave trade had a major implication since it formed the basis for the continued migration of the Africans to the western hemisphere. It is an event that is worth studying because it gives a clear picture of what really transpired during this period of slave trade. References Postma, J. M. (2009). The Dutch in the Atlantic Slave Trade, 1600-1815. Cambridge.Cambridge University Press. Rawley, J. A., Behrendt, S. D. (2005). The transatlantic slave trade: A history. Nebr aska. Lincoln: University of Nebraska Press.

Behavioral Perspective essays

Behavioral Perspective essays The Behavioral Perspective is the view of the psychological aspect of Behavior. This perspective points out the study of measurable, observable behavior and the way in which the environment determines behavior. Included in this perspective is the nature of man, determinism, and the possibility of change. Behaviorists believe that the nature of man is neither good nor evil. Behaviorists believe in the theory of Tabula Rasa, or the blank slate theory. In this theory a baby is born with no knowledge and their knowledge draws from their environment and experience. Here, Behaviorist B.F. Skinner reiterates his believe in this concept by saying: So far as I know, my behavior at any given moment has been nothing more than the product of my genetic endowment, my personal history, and the current setting. As Skinner puts it, this theory of Tabula Rasa is the belief that people are a product of their environments. This concept also brought forth the famous quote about conditioning from John Watson who said Give me a dozen healthy infants, well-formed, and my own specified world to bring them up in, and Ill guarantee to take anyone at random and train him [her] to become any type of specialist I might selectdoctor, lawyer, artist, merchant, chief, and yes, even beggerman and thief, regardle ss of his [her] talents, penchants, tendencies, abilities, vocations, and the race of his [her] ancestors. The idea that we have no free-will (Skinner) is called Determinism. In addition to the Tabula Rasa theory another aspect of Determinism is Conditioning. Conditioning is the most basic form of learning. In Conditioning a behavior is learned by a person and or animal. This learning is a result of reinforcement or the association of an unconditioned (not learned) stimulus with a conditioned (learned) stimulus. The first of the two types of Conditioning is Classical C...

Living World essays

Living World essays How often is the soul of man, especially that of the child, deprived because one does not put him in contact with nature. There is no description, no image in any book that is capable of replacing the sight of real trees, and all the life to be found around them, in a real forest. Something emanates from those trees which speaks to the soul, something no book, no museum is capable of giving. The wood reveals that it is not only the trees that exist, but a whole, interrelated collection of lives. And this earth, this climate, this cosmic power is necessary for the development of all these lives. The myriad lives around the trees, the majesty, the variety are things one must hunt for, and which no one can bring into the school. -Dr. Maria Montessori, MD This just reminded me about my life growing up in a farm far away from the city. I lived there with my grandmother until I had to move with my father to a small town so I could go to school. I really did know that television existed until I was about seven years old, but I certainly knew that I had to wait about 21 days to see little chicks hatching out of their shells. I could see that it took longer for a cow to have a baby, that it was usually no more than one baby and that it was born in a different way. It was amazing and very exciting for me. I could see how important was to take care of the animals as well as the plants. I knew that if wanted to see another mango or an avocado tree I had to first plant a seed. I could see how nature was part of me. It was an amazing experience in my life that not book has given to me. I think that as teachers, even though living in big cities, we still can help our children to have those experiences that come from nature so that they can de velop that relationship with it. Biology is about the world of living things. The first question is, why we teach biology? By studying biology we can satisfy much of the curiosity our ...

Research Paper On The Pearl by John Steinbeck Example | Topics and Well Written Essays - 1250 words

On The Pearl by John Steinbeck - Research Paper Example They even try to subdue and tread over the dreams of the poor so that the rich can become richer. Steinbeck has used greed and ambition as main themes of the book. The protagonist ‘Kino’ dreams of a bright future for his only son. He wants to educate him so that his son can have a better life. The author has profusely used the surreal elements to weave the magic in the ordinary life of the hero. The story revolves around the protagonist who goes in search of ‘the pearl’ because the village doctor refuses to treat his son who was bitten by a poisonous scorpion. The author dexterously maneuvers the plot and shows how the greed of man and unrealistic dreams ultimately deprive him of happiness and a peaceful life. Kino develops the illusionary desires and ambitions to overcome his poverty because he wants a more comfortable life for his son and family. Hence, when he finds the pearl, it becomes the most powerful symbol of riches through which he can make his dre ams come true. ‘The pearls were accidents, and the finding of one was luck’ becomes the powerful motive of the protagonist to dream (1:9). When Kino and his wife find the pearl, their life takes a dramatic turn because everyone is attracted to the pearl and want a share of the riches that it represents. The greed of people comes to fore and all the people who had earlier refused to help the couple, now try to impress them. The doctor, who had refused to treat Coyotito, Kino’s son, is now eager to treat the poisonous bite as he can now get a share of the pearl. The priest, who had earlier refused to marry Kino and Juana in the church because they were poor, is now ready to wed them in the hope of gaining some part of the fortune that the pearl represents. Steinbeck gradually unfolds the events to convey the changing attitude of the people. The evil nature of man is exposed as the greed for the acquiring the pearl gains momentum. The simple and uncomplicated life o f Kino is suddenly fraught with the treacherous consequences of extreme wantonness of the man’s greed for money. Indeed, while the protagonist just wants the pearl to provide a better life for his family, the world around him sees it as their first step to great wealth and prosperity. The story culminates in the death of the son. The protagonist realizes that not all the riches of the world can replace his son or can be greater than the love of the family. Kino and his wife throw the pearl back into the sea because it deprives them of only happiness that their son represented and nothing can bring him back. The theme of the book broadly focuses on what the pearl represents in the wider context of life. How the pearl is perceived by the people and consequently its role in the life of Kino becomes the highlight of the book. The author has used symbols, metaphors and imagery to stress the emotional needs that must be satisfied. The songs for different occasions are important ele ments that reflect the changing moods of the protagonists. ‘Song of the family’ signifies the contented life of Kino and Juana but ‘song of the evil’ comes in the mind of Kino, when his son is stung by the scorpion. ‘Music of the enemy’ forewarns Kino that the doctor would not be treating his son! Once the pearl is found and appears in the lives of the people, the vagaries of human nature also come to the fore. The greed, desires, jealousy

Creative Process Research Paper Example | Topics and Well Written Essays - 1000 words

Creative Process - Research Paper Example Warhol gained a Bachelor of Fine Arts degree at the Carnegie Institute of Technology in 1949 and went to New York right after his school days with the intention of working as a commercial artist. He became successful in his endeavor and thus begun his other works that made him famous, bringing out the genius in him not only with the camera and brush but included writing and sculpturing. His acquaintances with celebrities gave him the privilege of painting the famous during his time and were included in his subjects of interest. His list includes Marilyn Monroe, Elvis Presley, Elizabeth Taylor, Jackie Kennedy Onassis and Truman Capote, making them painted portraits which accelerated him to stardom, receiving commissions from wealthy socialites, musicians and film stars (Carnegie Museum of Pittsburgh). Georgia O’Keeffe was trained by a grammar teacher to draw along with her sister in their early age and taught to paint by a local water color painter (georgia-okeeffe.com). She we nt to the School of the Art Institute of Chicago in 1905 then continued her studies at the New York’s Art Student League in 1907 through a scholarship. Five years later, she taught at the Catham Episcopal Institute and later worked as a drawing supervisor in Texas. After years of teaching, she went back to her passion and started drawing using charcoal, sending some of her work to a friend who showed it to an acquaintance who appreciated her work and later became her husband, Alfred Stieglitz. This introduction begun her successful career as a painter which lasted through the years despite the challenges of her life like the death of her husband and her blindness brought about by old age. Despite these, she continued to paint and in the later part of her life, was assisted in her works due to her blindness. Ralph Vaughan Williams, a musician who made his first composition at the very young age of six showed signs of a genius with his work and his learning to play the piano, o rgan and violin as a child. At fifteen, he went to the Charterhouse then to the Royal college of Music to study composition from Hubert Parry and Charles Villiers Stanford, to Trinity College to read history and take his Bachelor of Music (hymnsandcarolsofchristmas.com). Later, he went to Paris for an intensive training with Ravel, being unsatisfied with his work â€Å"Toward the Unknown Region† despite its acclamation at the 1907 Leeds Festival. Ravel’s music most probably made the distinction in Williams’ music so that later, his teacher said that William did not play his music. On his return, the composer finally found himself, found what he wanted in his music and begun composing with his own style reflecting the Williams genius in him in full originality (hymnsandcarolsofchristmas.com). Writing runs in the blood of Robert Graves which is usually stressed by biographers, mentioning his great uncle, Leopold von Ranke who was a highly accomplished historian an d Richard Graves, a relative who wrote a novel successful in the 18th century. Through a scholarship, Robert went to Charterhouse after preparatory school where he began writing poetry, performing well enough academically and earned yet another scholarship to St. Johns College in Oxford. However, with the declaration of the war, he enlisted and joined the Royal Welsh

To what extent does the Children Act 1989 achieve its aim of Essay

To what extent does the Children Act 1989 achieve its aim of protecting children that have been or may be harmed by their families - Essay Example Once the child goes into care, there is no doubt that the legal effect is that the local authority gains parental responsibility for the child while the order is effectively in force. It should be noted that a care order automatically brings to an end any residence order that may exist. The Children Act 1989 contains provisions relating to the services that a local authority must or may provide for children and their families. It’s very important to note that for the first time services for children in need and disabled children are brought together under one statute. The government’s voice in protecting the children is very loud and clear. There is no doubt that the Children Act 1989 came into being specifically for the protection of children, and the intention of parliament seems to have been obvious. â€Å"To safeguard and promote the welfare of children in their area who are in need; and so far as is consistent with that duty to promote the up bringing of such children by their families, by providing a range and level of services appropriate to those† â€Å"(a) he is unlikely to achieve or maintain, or to have the opportunity of achieving or maintaining a reasonable standard of health or development without the provision of him of services by a local authority under this part; In cases where a particular local authority has information regarding a child likely to suffer harm outside its area, it is expected to inform the local authority in the area where the child lives or proposes to live. Guidance and Regulations 2008 adds: â€Å"If the child is assessed as being in need and the local authority is concerned that the child is suffering, or is at risk of suffering, significant harm, the authority is under a duty to make, as soon as practicable and, in any event, within 48 hours of the authority receiving the information, such enquiries as it considers necessary to enable it to decide whether it should take action to safeguard or promote the welfare

Virtual Organizations and Simulation Exercises Needs Document Assignment

Virtual Organizations and Simulation Exercises Needs Document - Assignment Example Those can be divided into three separate categories, based on their content and purpose: The ordering process functions, the website functions and the decision making functions. The ordering functions of the system must provide the full flow of a customer order from the time it is requested by the customer to the sales person, until the final bill issuance. The sales person must be able to register the order of the customer, and pass it via the shop’s wireless network to the order preparation room. Order preparation personnel will receive the order and start preparing all items included in it. At the same time items will inform an items inventory database which has to be maintained. Sales person in charge of the order must be informed with a message when the order is ready in order to fetch it and deliver it to the customer. In that way no time will be missed at all as the sales person can be busy with many orders in parallel. At the time when the customer asks for the bill, s ales person sends a message to the central computer system. The receipt is automatically printed and is delivered to the customer, so that the waiting time for bill issuance is minimal. The items inventory database will keep statistics about the item preferences of the customers per area and/or customer group and help in decision making. In that way, important conclusions will be possible to be drawn by the analysis of the items data by the firm managers, that will help in the decision making process. For instance, the items information can be aggregated by shop location, by season, by customer target group and age, leading to very important marketing decisions. In addition, inventory database will be used for on-time replenishment of the items from the external wholesale vendors of the firm. (Inventory control). In that way, the continuous replenishment of all the items at the shop will be guaranteed, and the possibility of items shortage that could cause customer complaints will b e minimized. The website application of the restaurant (www.krudlerfinefoods.com) must display information such as shops location, chef and staff profile, and items menu. A dynamic update of the content must be possible to be made at any time by shop manager (to add the menu of the day, special offers etc). The customer must be able to pre-order specific items so that they are ready when he arrives at the shop. In addition the system must provide to the customer an estimation of the time that will take from the moment that he enters the shop until he is served, based on the day and time of the order, and on statistical data that will be maintained by shop manager. (e.g. time to serve could vary from 5 minutes on a regular day to 20 minutes on weekends). Customers should be able to contact the shop for leaving suggestions, feedback or any complaints. Application must support automatic and custom message sending to customers (Happy birthday, season’s greetings, promotions, even ts etc). Use Cases The Use cases of the above functional requirements are presented below. Use case: Submit order Customer orders, sales person inserts the order in system, order is sent to preparation room, preparation room employee receives and prepares order, order items inventory is reduced. Use case: Order delivery and payment Preparation room employee sends message that order is ready, sales person receives message, sales

International Business continutes to increase inexorably and the World Essay

International Business continutes to increase inexorably and the World Trade Organisation supports this by encouraging countries - Essay Example Additionally, the WTO has sought to realize objectives such as global economic integration and increase in global incomes. However, the WTO quest to promote free trade has encountered various challenges. These challenges include countries that trade under protectionist policies other countries have refused to open their economies totally. Despite the handicaps, WTO has accomplished some of its objectives. This is because there has been a gradual rise in the global trade (Bradford 2003, p. 30). WTO has sought to enhance free trade by campaigning that nations trade freely. However, it has not accomplished the above objective. This is because numerous nations have adopted various protectionist policies that have prevented free and fair trade. Additionally, bodies such as European Union have sought to protect their constituent nations by barring entry of certain comedies to this region. However, the political and trading block has also increased trade among its nations. Protectionism is the key hindrance to free trade in the world. UK has adopted various policies that prevent free trade. Some of the policies entail massive taxation, quotas and total ban. The adoption of such policies by nations has resulted from various reasons. Such reason primarily relates the saturation of the economy with cheap products that have pricing advantages. Despite the phenomenal trade increases that would occur on the elimination of protectionism, there would be negative economic implications. Countries would lose some of their sectors owing to importation of certain products into their economy (Bradford & Lawrence 2004). There are countries such as China, India and Brazil that produces certain products at lower cost owing to low expenditure of labour and other inputs. Exporters from such countries would have a competitive edge over most producers globally. Therefore, nations that experience higher cost in the production of similar goods would encounter reduced clientele. The cheap pr oducts would floods markets globally. As such, manufacturer in countries such as UK may suffer owing to flooding of the economy with such goods. The local industry in these nations would suffer greatly owing to free trade. Conversely, nations producing items at low cost would have a massive competitive advantage over their rivals. This would result in economic prosperity of such nations. Protectionist policies enacted by the UK government seek to protect its producers who are vulnerable to products subsidized by global powerhouses. This has been the key justification for the protectionist policies. Despite the justification by leading nations for enacting such policies, it is evident that they have been the key hindrance to free and fair trade. Leading nations incur higher cost since they pay higher remuneration. As such, their firms incur higher costs. This translates to higher prices. Irrespective of the quality of such product, they can compete with other gods owing to pricing. T he above reason is solid for enacting protectionist policies (Chorev 2007, p.45). Free trade would increase entry of goods in all nations. As such, some of the industry would close down as detailed above since they cannot survive competition on the global front. The closure of these industries would culminate in job losses. One the key concerns of government is unemployment. If the government allows free trade, then there will be substantial job losses. Any government that would

The effect of Leader Member Exchange(LMX) on employee's performance Dissertation

The effect of Leader Member Exchange(LMX) on employee's performance and turnover rate (or employee retention) - Dissertation Example According to the research findings it can therefore be said that leadership is not just a word, it is a responsibility, and it is the step towards the success story for any organization. Leadership qualities cannot be developed overnight but continuous effort put in by the people can make them achieve the price tag of leadership which brings along responsibility and further expectations to perform beyond potential. Organizations, small or big have and will always require people who can mould themselves according to what the situation demands and bring the best solution on the table. Leadership qualities are also measured on the basis of employees’ performance and their job satisfaction. A leader can be called a successful torch bearer only if his/her followers equally contribute towards the growth of an organization. Leadership in itself is an important quality but there are certain factors which define the true leadership qualities a leader should possess. These essential com ponents to develop leadership qualities at par are- a) Setting an example and motivating others b) Enhancing skills c) To be an influential figure d) Finding a solution to doubts and ambiguities e) Honesty f) Being ethical g) Bringing in the desired change h) Managing cultural assortment i) Rewarding for the success. Leadership is a sequence, a process which has different elements intact to it, prevailing towards the successful attributes of a true leadership quality. These elements of leadership are of three types- the leader, the following group or the followers and finally the substance. A leader is the one who sets an example, leads from the front, motivates, sets objectives and inspires others to grab the opportunity in achieving these objectives. It is believed that every individual has an inborn

Virtual Organizations and Simulation Exercises Needs Document Assignment

Virtual Organizations and Simulation Exercises Needs Document - Assignment Example Those can be divided into three separate categories, based on their content and purpose: The ordering process functions, the website functions and the decision making functions. The ordering functions of the system must provide the full flow of a customer order from the time it is requested by the customer to the sales person, until the final bill issuance. The sales person must be able to register the order of the customer, and pass it via the shop’s wireless network to the order preparation room. Order preparation personnel will receive the order and start preparing all items included in it. At the same time items will inform an items inventory database which has to be maintained. Sales person in charge of the order must be informed with a message when the order is ready in order to fetch it and deliver it to the customer. In that way no time will be missed at all as the sales person can be busy with many orders in parallel. At the time when the customer asks for the bill, s ales person sends a message to the central computer system. The receipt is automatically printed and is delivered to the customer, so that the waiting time for bill issuance is minimal. The items inventory database will keep statistics about the item preferences of the customers per area and/or customer group and help in decision making. In that way, important conclusions will be possible to be drawn by the analysis of the items data by the firm managers, that will help in the decision making process. For instance, the items information can be aggregated by shop location, by season, by customer target group and age, leading to very important marketing decisions. In addition, inventory database will be used for on-time replenishment of the items from the external wholesale vendors of the firm. (Inventory control). In that way, the continuous replenishment of all the items at the shop will be guaranteed, and the possibility of items shortage that could cause customer complaints will b e minimized. The website application of the restaurant (www.krudlerfinefoods.com) must display information such as shops location, chef and staff profile, and items menu. A dynamic update of the content must be possible to be made at any time by shop manager (to add the menu of the day, special offers etc). The customer must be able to pre-order specific items so that they are ready when he arrives at the shop. In addition the system must provide to the customer an estimation of the time that will take from the moment that he enters the shop until he is served, based on the day and time of the order, and on statistical data that will be maintained by shop manager. (e.g. time to serve could vary from 5 minutes on a regular day to 20 minutes on weekends). Customers should be able to contact the shop for leaving suggestions, feedback or any complaints. Application must support automatic and custom message sending to customers (Happy birthday, season’s greetings, promotions, even ts etc). Use Cases The Use cases of the above functional requirements are presented below. Use case: Submit order Customer orders, sales person inserts the order in system, order is sent to preparation room, preparation room employee receives and prepares order, order items inventory is reduced. Use case: Order delivery and payment Preparation room employee sends message that order is ready, sales person receives message, sales

The effect of Leader Member Exchange(LMX) on employee's performance Dissertation

The effect of Leader Member Exchange(LMX) on employee's performance and turnover rate (or employee retention) - Dissertation Example According to the research findings it can therefore be said that leadership is not just a word, it is a responsibility, and it is the step towards the success story for any organization. Leadership qualities cannot be developed overnight but continuous effort put in by the people can make them achieve the price tag of leadership which brings along responsibility and further expectations to perform beyond potential. Organizations, small or big have and will always require people who can mould themselves according to what the situation demands and bring the best solution on the table. Leadership qualities are also measured on the basis of employees’ performance and their job satisfaction. A leader can be called a successful torch bearer only if his/her followers equally contribute towards the growth of an organization. Leadership in itself is an important quality but there are certain factors which define the true leadership qualities a leader should possess. These essential com ponents to develop leadership qualities at par are- a) Setting an example and motivating others b) Enhancing skills c) To be an influential figure d) Finding a solution to doubts and ambiguities e) Honesty f) Being ethical g) Bringing in the desired change h) Managing cultural assortment i) Rewarding for the success. Leadership is a sequence, a process which has different elements intact to it, prevailing towards the successful attributes of a true leadership quality. These elements of leadership are of three types- the leader, the following group or the followers and finally the substance. A leader is the one who sets an example, leads from the front, motivates, sets objectives and inspires others to grab the opportunity in achieving these objectives. It is believed that every individual has an inborn

Managing Financial Resources Essay Example for Free

Managing Financial Resources Essay SUMMARY RESULTS AND RECOMMENDATIONS The proposed refrigerator manufacturing and sales project for Tesca Works, Inc. is a financially complicated project which on the surface, given the increase in energy costs and customer demand may seem like a winning proposition. However, when we delve further into the details of the financial projections along with projections of the future of the refrigerator market we are able to make a confident recommendation to Mr. Burton and the executive staff at Tesca Works, Inc. Using the information provided by the Tesca team we were able to create a comprehensive capital budget and cash flow analysis for the proposed refrigerator project. Through our analysis we found that the cost of capital of the project to be 13.487% and a Weighted Average Cost of Capital (WACC) to be at a value of 9.70%. Factoring in the WACC into our projections we found that if the demand maintains at an average rate the project will be at a positive Net  Present Value of $5,997,505.31 with an IRR of 13.21%, a profitability index of 8.84, and an approximate payback period of 6.84 years. Please see Exhibits below for a snapshot of the capital budget and NPV values. This information seemed to be very promising for the project in general. However, our continued analysis showed the project to be very sensitive to the sales price per unit of the refrigerator. We used the average demand scenario to produce a sensitivity analysis and found that with just a 5% decrease in the sales price of the refrigerator the NPV quickly dipped into a negative value thus showing the project to be extremely sensitive to the sales price of the refrigerator. Our scenario analysis also exposed a strong probability of the project giving a negative Net Present Value and giving a probable low Internal Rate of Return of only 4.01%. This is mainly due to the projects sensitivity to the sales price of the refrigerator and the potentially lower sales in the event of weak demand for the product. Because of the high probability for a very low IRR and negative NPV we are recommending that the project be rejected. The information we have uncovered through detailed financial analysis showed that the project is far too sensitive to lower demand and lower sales prices per unit. This is especially true for a lower sales price for the refrigerator. We found that even a small decrease in the sales price of just over 1% would cause the project’s NPV to become negative, even with an average unit sales demand. There may be potential for an average or strong demand in the marketplace, however there is too much risk to recommend project acceptance. A decision to move forward with the project would be mainly based on a ‘gut-feeling’ rather than on sound financial reasoning. Thus it is our official recommendation that Tesca Works, Inc. reject the project. 1) IMPORTANCE OF ENERGY COST SITUATION The question of energy cost being a factor of the decision to move forward with this project is of critical importance. This is because whether or not consumers are inspired to purchase a new appliance may be spurred by  increases in energy costs as well as possible tax benefits or rebates from power generating companies. Some consumers may be aware of the benefits of energy efficient appliances which may cause an increase in the normal demand for refrigerators. Tesca is in a unique position to be able to offer high efficiency refrigerators to the United States public at a time when the public is looking to reduce their use of electricity and other utility costs. When we look at the graph above it can be seen that the cost of electricity has steadily increased over the last 10 years. The price per kilowatt hour has increased almost 50% in 10 years (EIA, 2014). Thus to the consumer the price of energy is a big concern and the costs will most likely continue into the future. There is potential for an increased demand to replace aging inefficient appliances that are causing increased electrical bills for consumers. The energy cost and potential benefits to the consumer are of importance when determining the future of this project. The project is forecast to be of a positive value if the demand for refrigerators is at an average or strong demand from consumers. However, the realization of a high or average demand is mainly based on ‘gut-feeling’ rather than on sound financial information. There are too many variables in the marketplace that could cause demand to be weaker than projected. Such variables as a weak economy or recession could cause sales to drop which in turn would cause the project to lose its value quickly. 2) What is the project’s cost of equity? What is the appropriate discount factor to use for evaluating the refrigerator project? As seen in Exhibit I below, the project’s cost of equity (COE) is calculated to be 13.487%. We found this value by using the Capital Asset Pricing Model (CAPM) formula by adding the treasury note yield with the beta value, then taking the market return rate and subtracting the treasury note yield. We then multiply those values together to attain the cost of equity value of 13.487%. This means there is a rate of return on investment of 13.487%. The Beta for Tesca Works, Inc. is fairly consistent with their competition. Tesca’s beta value is at 1.3 which means that Tesca’s value has been more volatile than the market. While this means there is more risk when investing in Tesca there is also a greater possibility for higher rates of  return. Exhibit I also shows the table used to calculate the Weighted Average Cost of Capital (WACC) or discount factor which we used to evaluate this particular project. We used the following formula to calculate the WACC for this project. We know that the higher the weighted average cost of capital the less likely it is that Tesca will be creating value for its investors. The WACC helps us to determine if a company is creating value and presents the minimum return to satisfy investors and creditors. 3) Which of the two compressors should be used in the refrigerator if you decide to go ahead with the project and why? As seen in Exhibit II we determined that the CM-004 compressor should be used for this particular project. We came to this conclusion by finding the present value of the five year compressor warranty and adding that to the cost of the compressor. We used the weighted average cost of capital as the rate in our present value calculations. While the TS-L12 has a less expensive purchase price it has a more expensive warranty cost for the five year warranty period thus making it a more expensive overall compressor. When we use the present value calculations on both compressors, factoring in the warranty, we found that the present value of the CM-004 is $18.21 less expensive than the TS-L12 compressor. This makes the CM-004 compressor 4% less expensive to purchase for the warranty life of the compressor. It was important to take calculate the present values of both compressors to get an accurate comparison of the costs of the two compressors for the five year warranty costs of each compressor. While on the surface the TS-L12 may have seemed less expensive the overall cost in present dollars was higher when we factored in the value of the five year warranty on both compressors. 4) Forecast the project’s cash flows for the next twenty years. What assumptions did you use? Once we selected the appropriate compressor to use we were able to plug in  certain input values into our equations to create a cash flow projection for the entire project lifetime. We used the weighted average cost of capital value found in our earlier calculations as one of our input values. We also found the present value of the refrigerator, see Exhibit IV, by using the input values given in the financial information from Tesca such as the labor, parts, and compressor costs. We found the cost of the refrigerator to be $1,269.36, see Exhibit III. ASSUMPTIONS MADE: Certain assumptions were made when calculating the projected cash flows for the refrigerator project. We assumed inflation would remain at 2.5% and used that value to increase the sales price, variable cost, and administrative fixed costs each year. Please see Exhibit IV for a breakdown of the inputs used for the cash flow projections. This allowed us to gain a more a more realistic forecast of the project’s potential cash flows for the entire project. We also used the average demand as our base projections for the project. This is because the average demand scenario has the highest probability of 45%. We used straight-line depreciation with regard to depreciating the investment in the project over time. We detailed the first three years of the project, years zero through two with the appropriate investment amounts during each of those years. Since production and sales did not begin until year three we were able to make an assumption of potential tax returns on the invested dollars for years one and two. We used the tax rate of 25% to calculate the tax returns along with the taxable amounts for all years. See the attached spreadsheet for the detailed cash flow projections. We also assumed that since the refrigerators could be produced for a total of 20 years the entire life of the project would span from year zero through year 22. This is because the production of the refrigerators could not begin until year three, thus making the projects timeline from year zero through year 22. With this information and assumptions we found that when the units are in production and being sold the project will yield a positive annual cash flow. The working capital was found by taking the 11% and carrying it over  for each year. We used the initial Net Operating Working Capital (NOWC) found in year two then calculated the difference using 11% of the difference of the sales each year and calculated that for the entire life of the production. 5) Use the appropriate capital budgeting techniques to evaluate the project. As seen in Exhibit V we used the appropriate capital budgeting and performance measures to evaluate the life of the project. Exhibit VI displays the results of the capital budgeting analysis. We found the NPV for the average demand scenario to be $5,997,505.31 which is a positive value for the project given the average demand inputs. The Internal Rate of Return was calculated as 13.21% which, again, is a positive value and could provide for a nice rate of return on the project since it is higher than the weighted average cost of capital and the market return rate. The profitability index was found to be at a value of 8.84. Because the profitability index is higher than 1.0 that shows that the project present value is greater than the initial investments in the project. We then calculated the number of years for a payback on the initial investments in the project. We found that the simple payback of the initial investments would take 6.48 years for the average demand scenario. In simple terms, and if we only used the average demand assumptions, this project would seem to provide positive net results for Tesca. Using the average demand inputs the NPV, IRR, Profitability Index, and Payback Years are at an acceptable level. However, as we will cover in later sections, when we include probability analysis of the other demand scenarios we find that the project is less than desirable. 6) Use the average demand scenario to evaluate the sensitivity of the project’s NPV with respect to sale price of the refrigerator and the cost of the compressor.  We used the average demand scenario to produce a comprehensive sensitivity analysis of the project. We utilized three variables when conducting our sensitivity analysis, the sale price of the refrigerator, the cost of the compressor, and the project’s weighted average cost of capital. We included the weighted average cost of capital as an extra variable to get further details on the sensitivity of the project. We used a scale of 5% increments from -25% to 25% which allowed us to produce a sensitivity analysis with adequate details. Please see Exhibits VIII and IX for the numerical details and sensitivity graph for the project. The sensitivity analysis uncovered the following critical information with respect to how sensitive the NPV of the project was to the given variables. Sales Price Sensitivity We found that even a small decrease in the sales price of the refrigerator of just over 1% caused the project’s NPV to become negative. The graph in Exhibit IX shows the steep sensitivity line with respect to the change in the sales price per unit. Even with an average sales demand, if the price dropped to 15% which is approximately the same sale price of our weak demand scenario the NPV was substantially below zero at a negative value of $-57,667,920. With each 5% increment the NPV values sometimes increased or decreased at a rate that doubled or more because of the projects extreme sensitivity to the sales price of the refrigerator. The profit margin on the refrigerator of 19.41% and markup of only 24% does not leave much room for a price reduction in the sales price of the refrigerator. The data also points to a wide range in NPV with respect to the sales price of the units. There was a total range of over $212 million for the sensitivity of the sales price per unit. This d ata leads to the discovery that the project is extremely sensitive to the sales price of the refrigerator. Compressor Cost Sensitivity The project was not as sensitive to the cost of the compressor, however, it did not take a large percentage increase in the cost of the compressor to throw the NPV of the project into a negative value, just over 5%. Exhibit IX’s graph shows the sensitivity lines for the project. The compressor sensitivity is not nearly as steep as the price sensitivity per unit. Because the cost of the compressor affects the profit margin on each refrigerator the lower the cost of the compressor the better the NPV because  of the increased profit margin per unit. 7) Based on the scenario and sensitivity analysis you performed above, comment on the overall riskiness of the project. Based on the scenario and sensitivity analysis we were able to determine that the project is of a high risk nature. There are several factors that make this project such a high risk which include the narrow profit margin per unit, the uncertainty of the future market, the high cost per unit, and the high administrative costs. Through a scenario analysis we analyzed the three potential demand scenarios for this project. We used the weak, strong, and average demand scenario variables to formulate the probabilities for the project. We found that the probability of the NPV is a significant negative value of $-6,300,213, see Exhibit VII for details of the scenario analysis. We also found that the probable IRR of the project was very low at 4.01%. Given the low IRR probability of 4.01% that means it is significantly lower than the SP 500 market return of 11% and barely a point higher than the 10-year treasury note yield of 2.71%. The low probable internal rate of return is another red flag for the riskiness and viability of the refrigerator project for Tesca Works, Inc. The weak demand scenario produced significant negative values for the NPV and the internal rate of return (IRR). The weak scenario also produced a non-existent payback period within the 20 year production lifecycle of the project. With each scenario the selling price and unit sales were changed, however, the high cost of each unit and administrative costs remained the same, thus adding to the risk of the project since it is highly reliant on an average or strong demand and higher sales prices per unit. While the project has the potential of a very high NPV, IRR, and payback period with a strong demand, the projects sensitivity to price and market demand make this a very risky project to undertake at this time. If there were ways to increase the profit margin or decrease the fixed costs of the project that may help decrease the risky nature of this particular project. 8) Would you recommend that Tesca Works accept or reject the project? What is the basis for your recommendation? We would not recommend this project for Tesca Works, Inc. Our recommendation is for Tesca management to reject the project. Our analysis has shown this project to be too sensitive to market shift and too risky to undertake at this time. While there is excitement across the country for more energy efficient appliances, we feel that the project poses some significant risks for Tesca. The successful outcome of the project truly relies on the demand from consumers. Their demand will determine the selling price and sales volume of the refrigerator units. If this demand is barely below the average demand we will see a negative NPV for the project and thus a negative result for Tesca Works, Inc. Recent economic history in the United States has shown the economy to be unstable and may not provide an average or strong demand for the product. While we feel the energy costs across the country could be of significant importance for a project of this nature we do not feel that there is enough lee way in the profit margin of the project to be economically feasible should demand be lower than anticipated. Our analysis showed the project to be very sensitive to the sales price per unit value of the refrigerator. We used the average demand scenario to produce a sensitivity analysis and found that with just a 5% decrease in the sales price of the refrigerator the NPV quickly dipped into a negative value thus showing the project to be extremely sensitive to the sales price of the refrigerator. Our scenario analysis also exposed a strong probability of the project giving a negative Net Present Value and giving a probable low Internal Rate of Return of only 4.01%. This is mainly due to the projects sensitivity to the sales price of the refrigerator and the potentially lower sales in the event of weak demand for the product. The project’s profit margin is too close to allow for market demand fluctuations which would cause the project to have a negative net present  value. If Tesca were to offer the refrigerator at a higher sales price this would yield a stronger profit margin and may alter the recommended rejection of this project. As we discussed the project is far too sensitive to changes in the sales price of the refrigerators. Even with an average demand of sales volume, if we reduce the sales price we begin to see a negative NPV for the project. Thus, the project is too sensitive to minor changes in the profit margin of the refrigerators. Which is why we are recommending a rejection of this project for Tesca Works, Inc.