Economics of Development

It is undisputable that economic progress involves painful adjustments especially with respect to concepts that are considered to be classical. Most of the classical concepts are replaced by contemporary concepts in a bid to attaining economic progress. For instance, old social institutions are disintegrated to form new ones while persons unable to keep to the pace must adjust to the specific requirements of economic progress.Advertising We will write a custom article sample on Economics of Development specifically for you for only $16.05 $11/page Learn More Economic progress aims at making the contemporary world and environment more favorable hence the need to get rid of the various classical concepts, ideologies, and institutions that never assisted in attaining the objective. However, most nations or economies find it difficult to enjoy benefits of economic progress since there are many communities unwilling to pay the full price of economic progress. Notably, the problems experienced after the World War II made many nations to wake up in a bid to carrying out specific developments in line with economic progress. This was as a result of the increased poverty during the period. Many nations after World War II became curious of the causes and possible techniques of alleviating poverty thus leading to economic progress or development. Development of a nation to achieve economic progress requires adherence to certain basic rules of statement defining various systems of attaining the same. Such systems should define the categories and relationships existing between various concepts of development in order to aid the economic progress process. For instance, the systems should be able to define hegemonic view of the world in terms of development consequently arousing various players in the global arena to take part in economic progress. It is noteworthy that all stakeholders taking part in economic progress should have the ability to a llow for transformation in economic, social, and cultural aspects of nations or economies. One main cultural force that has shaped significantly the worldwide economy is the discourse of development economics. Understanding discourse of development economics requires deep analysis of its emergence, building on the existing parameters, as well as the necessary conditions for its formation or occurrence. Moreover, economic progress benefits significantly from the corpus of rational techniques, which include planning, measuring and assessing techniques, professional knowledge, and institutional practices amongst others. In addition, economic progress may never be complete unless stakeholders focus on regimes of representation that are capable of underlying the construction of various processes and parameters. Examples of the parameters vital in this area include peasants, women, and the environment.Advertising Looking for article on business economics? Let's see if we can help yo u! Get your first paper with 15% OFF Learn More Links and relationships between representative powers at work with various economical institutions also play a significant role in economic progress. From these concepts, there is no doubt that economic progress is a process full of many requirements that must be attained at any given moment. In any case, every stakeholder involved in economic progress must be conscious of various parameters that make the process complete. Generating Discussion Questions From the ongoing discussion, the following questions arise: What was the link between post-World War II poverty and economic development? Post-World War II poverty led economic development and prosperity amongst different nations in the global perspective. During the post-World War II poverty, many nations engaged in developing better ways of having sufficient food to reduce the serious effects of the same. As a result, economists proposed various development methods in curb ing poverty. Hence, post-World War II poverty initiated the process of economic development in the global perspective. It has been close to three decades since the global economy started economic development or progress. During this period there are economies with developed status and others developing and underdeveloped status. What are the possible reasons as to the discrepancy yet economic progress started almost at the same time? Even though it has been long since the inception of economic development, there have been serious discrepancies amongst the global nations. One reason contributing significantly to such discrepancies in economic progress is political will. Whereas there are nations with positive political will that necessitates economic progress, some countries lack the same hence falling in the underdeveloped category. In addition, technological discrepancies have led to discrepancy in economic progress where underdeveloped countries unlike the developed ones have p oor technological infrastructure hence the difference in economic progress. What are some of the factors that have played significant roles in economic progress of the global arena? Some of the factors contributing to economic progress within the global perspective include technological advancements, infrastructural developments, governance, and the presence of political will amongst stakeholders involved. In addition, increase in knowledge and information has significantly contributed to economic progress within the global arena. Forecasting into the future, may be five decades from today, is there a possibility that there will be more economic progress or development? If so, how will the institutions then differ with the contemporary institutions, which have so far been considered to be economically developed? The global perspective keeps on changing despite the belief that it is about to reach the economic stretch. Therefore, there is a possibility that there will be more eco nomic progress in future that it is in the contemporary world. Such economic progress will result into more advanced institutions that employ technology greatly as opposed to the contemporary institutions.Advertising We will write a custom article sample on Economics of Development specifically for you for only $16.05 $11/page Learn More This article on Economics of Development was written and submitted by user Journey E. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Rhetorical Analysis Essays (1269 words) - Biology, Charles Darwin

Rhetorical Analysis Essays (1269 words) - Biology, Charles Darwin Kennedy Sims @02839811 English March 1 st . 2019 Rhetorical Analysis Biology is a subject that has always intrigued me. It is the major of studies that I took up at Howard University and in some way, it is what I want to use in my everyday life at work. The Origin of Species by Charles Darwin is one of the most prominent books in the biology field. It is biological literature considered to be the foundation for Evolutionary Biology. It introduces the scientific theory that populations evolve over the course of generations through the process of natural selection. This book contains scientific evidence to back up his claim and is aimed at the general public and secular individuals as an alternative to what the church believed and as an explanation of the origin of life. Charles Darwin used this book The Origin of Species to express his findings on how life came to be and explain the phenomenon of genetic similarities in different animal types. The book submitted evidence from an expedition in the 1830s and explanation for all his findings as well as names and details about the process. His explanation produced a body of evidence that the diversity of life came by common descent through a branching pattern of evolution. In the book, Darwin shares the concept of natural selection or "Survival of the fittest" as putting in his book on page 63 and argues that species are susceptible to change because of natural selection. This theory helps as a basis of knowledge further in the history of biology and as a biology major is something that I have studied at Howard University. The phenomena of natural selection are taught in grade schools as the reasoning of evolutionary change and it is all thanks in part to Charles Darwin and his book. Darwin do es note that he is not the first person to notice an evolutionary change but his way of processing it and his reasoning for why is what makes him different. Darwin did not write his book to be solely for academia and although he is a wildly respected and achieved academic his findings affected the world and he knew that. Knowing this he sets up the book in a very readable way and is very explanatory in what he says. He even goes as far as to give a disclaimer and say " I cannot here give references and authorities for my several statements; and I must trust to the reader reposing some, confidence in my accuracy" as to say that he is just presenting the research that he has found and drawing his conclusion and it is up to the reader whether or not they believe him and want to believe this conclusion based on the evidence presented. This book was wildly accepted as a reasonable explanation for evolution and the process of genetic changes by academics and seculars alike. The early parts of the book explain his theory in detail while the ending part is more of a defense against any critics that could or have to arouse to doubt his th eory. When writing this book, I feel the main purpose of Darwin was education and knowing what really happens on the planet we inhabit. He wanted to spread the knowledge that he had found and wanted to showcase what has happened before and what will essentially happen again. When writing this Darwin faced a lot of criticism and skepticism from people who did not believe what he believed to be so true. The church was a big roadblock in the face of evolution because of their belief system. Darwin's beliefs were labeled as Darwinism and something that should not be believed in or associated with if you were a part of the church. His theory of descent with modification and the belief that people could have evolved from another species goes against everything the church was teaching and therefore to them was incorrect and even blasphemous. He also takes the time to address and inconsistencies that might be in his findings and do not relate with other scientific findings. He goes in depth about the inconsistencies and why they are there and

What has gone wrong with Williams teams efforts and what should be Case Study - 1

What has gone wrong with Williams teams efforts and what should be done to ensure a successful outcome for the team - Case Study Example The group dynamic theory highlights on the social and psychological changes that come up in workplaces (David and Frank 2000). It helps in the comprehension of behaviours that come up due to team or group work in businesses. Communication styles play a significant role in the interpersonal relationships that emerge in workplaces. The bonds among workers contribute directly to the success or failure of the company. â€Å"†¦the success of an organization can depend on the levels of team work it employs† (Hartley & Bruckmann, 2008, p.311). Felix is a new employee who has social problems. He does not relate well with other employees and the company manager claims that his character is affecting the profits. Lack of teamwork has contributed to the failure of the company since it has not acquired the set goals and objectives. The main setback is the lack of communication skills and interpersonal relationships at the work place. Felix is competent, but â€Å"Developing sending skills meets only half the requirements for communicating effectively† (David & Frank, 2000, p. 147). He does not want to join groups and causal office conversation, is considered as a loner, and does want to share ideas with other employees. The employer considers his behaviour as a setback to the company because he cannot blend in with other employees. Teamwork requires that all members help each other to overcome problems that emerge in the business. â€Å"Groups and teams have assumed greater prominence in organisations in the past few decades†¦Ã¢â‚¬  (Eunson, 2005, p. 566). According to the dynamic theory, it insists on teamwork among employees since interpersonal relationships help in the growth of the business. â€Å"Members of groups act together to achieve common aims or goals† (Eunson, 2005, p. 567). However, Felix does not socialize outside the workplace. He is seen not contributing to fellow employees debates while they are having a drink.

Elevator Pitch about Walmart (OR ANY PUBLIC COMPANY) Essay

Elevator Pitch about Walmart (OR ANY PUBLIC COMPANY) - Essay Example Its 2010 financial highlights revealed a staggering $99.9 billion revenue with a net income of $14.8 billion (IBM: About IBM) There is significant demand for IBM’s products and services that range from software, systems and servers, storage to networking, semiconductors and both technical and customer support. The fact that Buffet recently invested more than $11 billion for IBM stocks indicate the investor’s firm commitment for significant potentials for high returns. Its current market price at $192.18 as of December 12, 2011 (Bloomberg Businessweek) indicate that the stock of fairly valued. According to Seeking Alpha, â€Å"IBMs business quality (an evaluation of our ValueCreation and ValueRisk ratings) ranks among the best of the firms in our coverage universe. The firm has been generating economic value for shareholders with relatively stable operating results for the past few years, a combination we view very positively† (Seeking Alpha par. 4). With an asset base of $113.5 billion and a number of employees totaling more than 425 thousand worldwide, IBM remains to be the most financially resourceful and most secure investment that would prove to be financially rewarding in the coming

Personal Development self -managemnt and reflection Assignment

Personal Development self -managemnt and reflection - Assignment Example Section 1 There is a number of skills that one need to posses in order to successfully go through the Higher Education system. One of the most important personal skills that one should have is organizational skills, this skill is very important because it assist an individual to plan wisely and manage time well and bit any deadlines set .Having organization skills illustrates that one has a high level of intellectual ability and thus in a position to undertake a higher education course in any field. Determination is yet another skill that a student pursuing higher education should posses, determination is the zeal to keep on working hard until one achieves his/her goals ,.Determination will enable student to focus on achieving his career goals . Communication skills are needed to promote teamwork and collaboration, leadership skills and research skills ,without communication skills a student may not be in a position to smoothly carry out their business around the university .In moder n world the use of information technology and knowledge in numeracy is a must for any student pursuing higher education more over, a student should have problem solving skills, be in a to improve own learning and performance and should practice self discipline. Individually, I understand that I have some weaknesses in some of the skills mentioned; in particular I have gaps in organizational skills, zeal to improve my own learning and performance and I also have poor communication skills. Section 2 Action Plan for Academic skills needed to be attained Skill Target Action Timescale Success Criteria Recourses Organisational skills Excellent organizational skills Have a workable time table in place Become committed to my school work Time management Practice free and effective communication Listen to others Exercise leadership skills 6 months Neatness and clarity in my work Beating of deadlines Excellent grades Fellow students Lecturers Reading material Improving my own Learning and Perf ormance Excellent all round performance Consultation Teamwork Hard work Commitment Motivation 6 months Improved performance Involvement in most activities Reading material Fellow students Family Lecturers Communication Skills Excellent communication skills Stay focused Listen carefully See the point in other people messages Ask for assistance if needed Practice clarity 4 months Improved teamwork Excellent listening skills Excellent organisational skills Improved performance Reading material Fellow students Lecturers Action plan for the four subjects to be covered during the program Subject Target Action Time Frame Success Criteria Recourses Subject one to four Perform exemplarily in the respective subjects Get the core units Understand the topics Visit libraries and other resource centers Carry out in depth research on the subjects Submit all assignment on time Practice teamwork with class mates and lecturers During the course duration Good performance Good communication skills Libr aries, the internet , Fellow students Lecturers Section 3 Topic 1 Understanding this topic was easy for me, this is due to the exciting lecturer we had, and the lecturer was amusing besides being very knowledgeable. I ensured that I would not miss nay lecturer ,personally ,this topic has assisted me to develop my communication and interpersonal skill due to the high level of involvement

Reflective Report On Clinical Education In Practice Nursing Essay

Reflective Report On Clinical Education In Practice Nursing Essay This assignment will critically reflect and analyse clinical supervision of third year dental students during their infield placement of Dental Public Health in a school environment, a module within Preventive Dentistry. Clinical supervision of dental surgery assistants during their short clinical placement at the Periodontology Section will also be delved into. The preparation, planning, implementation and evaluation of the supervised sessions will be incorporated, as also the rationale for the choice of particular learning, teaching and assessment strategies. Finally, I will conclude by outlining areas of personal and professional growth, identifying strengths and challenges and putting forward an action plan for my future professional development as a clinical supervisor. Dental public health placement of third year dental students. Description I was assigned direct supervision of ten 3rd year dental students by the Faculty of Dental Surgery for four, weekly sessions at schools of my choice. The objectives were to expose the students to public dental health within a school environment and develop some of the skills necessary to convey dental health education to children of different age groups. Their competence level in communication skills were to be assessed and a report sent to the consultant dental surgeon in public health. Preparation Heidenreich et al (2000) suggests priming students for activities by debriefing them prior to engagement. In view of this, and also bearing in mind that I had never even met these ten dental students, I organised a 45 minute discussion session in our department lecture room. I specifically asked them to prepare a plan of how they propose to organise such an activity of delivering dental talks to children of different age groups. I also suggested that they write down any fears and queries they might have. My intensions were two fold. I needed to familiarize myself with the students- who they were, how they process thoughts and ideas, their feelings and apprehensions towards public speaking and an overview of their knowledge, perceptions and communication skills. I also wanted to use a constructive paradigm as discussed by McMillan (2011), where the knowledge is not transmitted by direct instruction and imposed on the students, but rather were they are actively involved in shaping their own learning experience. When describing androgogy (adult learning), Knowles (1984), states that adults learn best when learning is self-directed. They learn because they chose to do so and thus are more motivated and more reflective. Therefore transformation of knowledge acquired is more permanent. These students were academically mature 21-24 year olds, with their own individual experiences and personal perceptions. I intended to promote a deep learning approach by stimulating their genuine desire to engage in this learning task and to appreciate its value, integrate the experience in the students own biography (Jarvis, 2005). Implementation and evaluation The discussion forum proved to satisfy all its purposes. The students came well prepared, so, after the introductions, I clearly conveyed the learning objectives of the placement as dictated by the faculty and the assessment criteria. However, I wanted to establish what they feel should be the outcome of this placement, what they expect to learn and what kind of feedback they think is most helpful for them. So, we discussed and negotiated these issues first. McGrath et al (2005) propose that in order to promote understanding the supervisor should guide students in contextualizing their theoretical knowledge, bridging the potential divide that exists between the theory they learnt in the lectures and what they actually need to use in practice. The in-depth knowledge studied had to now be broken down into blocks, simplified and used according to the scenario presented. The language by which we speak to young children to convey a message cannot be full of scientific jargon. All the students were actively involved in this open discussion. The two foreigners in the group had to be encouraged and prompted a little but they integrated eventually. As an empirical study by Sweet et al (2008) suggests, when the students worked together and talked about and criticised each others planned activities they learnt in a way that changed their perspectives. I was practically a non-participant observer except when some misconceptions had to be clarified and some fears and queries needed to be addressed. Throughout the discussion I had one of the students create a concept map identifying the salient points. This was used at the end of the session when I summarized their thoughts and together we established how we were going to work on the four placement days. The students felt more comfortable if they observed me giving the first dental talk, then we decided that they are to be grouped in pairs to give talks on the first day and progress in giving individual talks in t he 3 sessions after that. On the day, the sessions went as planned with only a few hiccups. After the students observed me delivering the initial talk I had 20 minutes to give feedback and to answer any questions. This proved to be vital. Most of the students needed reassurance and encouragement. In retrospect, the decision to work in pairs was very sound since this eased some anxieties. At the end of the day we regrouped and I gave feedback to each student individually. Kilminster et al (2007) propose that the supervisor should prioritise and balance the negative and positive feedback. They also suggest that brief and targeted feedback with reinforcement of correct behaviours is very important. I followed this line of thought during the short briefing after the session, pointing out their strengths and commenting on how what they could improve. The students comments suggested that they enjoyed this learning experience. As the students progressed through the rest of the placement they gained confidence and their communication skills improved. There was one student in particular who did not wish to give a talk to the 6year old children. He felt he could not cope with their short concentration span and restlessness and he was afraid that he was incapable of going down to such a simple level of explanation. I had a chat with him were we clarified some negative ideas and attempted to dispel them in view of the wider ramifications that can impact his performance even in a clinical setting in the future. After all, eventually, he will not be having a choice of who he is to treat. At the end, he did deliver this talk, but I suggested that he could make use of a cartoon to capture the childrens attention, and to his surprise he actually managed and enjoyed it. . Hattie and Timperley (2007) state that asking students for an appraisal of their own performance before giving feedback has the potential to develop self-assessment and self-reflective skills which are pre-requisites for becoming competent, independent practitioners. The students were, therefore, asked to write a short reflective account of their experience, after which I gave online feedback. I was not allocated any additional time to have another discussion with the students, which I would have preferred. This formative assessment had to be followed by a summative assessment which was interwoven with the learning process, so the students had the opportunity to demonstrate their competencies in communication skills in a variety of contexts within the school dental education program. First year student dental surgery assistants Description Dental assistants are given five, weekly sessions to learn some basic yet essential skills after attending lectures on the topics. When these students are given the clinical placement, they are simply ushered into the periodontal clinics with barely any introductions let alone learning objectives. I decided that this placement was going to be slightly different. Preparation I took the initiative and asked their coordinator what these students need to learn and what skills need to be mastered in this placement. I also asked for a rough overview of their theoretical knowledge. Jarvis (1999: 46-47) situates learning under the umbrella of practice when he summarises practical knowledge as being practical, dynamic integrated knowledge that has been legitimised in practice, through a combination of process knowledge and content knowledge. Hence, although the dental assistants would have been taught about the theory, they will still need to learn how to implement and practice these skills in a clinical context. I planned the five sessions so as to have some sequence in their learning, from simple to more complex, and not to overload these students with more information than they can process (Heinderlich et al, 2000). I had to keep in mind that these were 16-18 year olds with an average academic level. Implementation and evaluation I felt that my primary role with these novice students was to encourage them to first reflect on what they know and understand, then demonstrate the skills; finally they can perform the skills themselves. A lot of learning in our work context takes the form of experiential learning. Kolb (1984) states that students learn best when experiences are put into practice after observing and analysing possible outcomes, reflecting and assimilating the concepts and coming up with their own possible solutions. In view of this, it was up to me to create the necessary opportunities for the students to meet, observe, interact and consult with people who have more expertise. I made the necessary arrangements to allocate students to reliable clinicians. Bandura (1977) claims that affable and motivated role models compel replication of good practice. Students not only observe the carrying out of the skills but also learn prioritisation, time management, problem solving and how to build relationships with patients and other staff members. The actual practical part came later, since I needed to make sure that the students will perform safe practices. Ultimately I was responsible. I organized a meeting before the start of the placement. I tried to help the students set appropriate learning objectives and establish some ground rules. The students were passive, so I used simple open ended questions to make them feel comfortable. I needed to form a professional relationship of trust and of mutual respect with these students so that eventually they would have the confidence to ask questions, reflect on the practices observed, discuss openly and finally together we could amalgamate all they learn. Questioning also helped me establish their individual baseline knowledge which we linked to the skills they were about to practice. Their academic level varied. Some students could be challenged further with more thought-provoking questions, while others needed more repetition and guidance. I was informed that they use reflective journals throughout their course. So, I exploited this and suggested to the students to write a SWOT analysis. I offered that if they wished to go through it with me I would oblige and offer any assistance on issues which crop up. This was a way to encourage students reflect and think on their own learning process. . I also gave some tips on basic survival skills they need in the challenging setting of a clinic. I explained that empathic and ethical behaviour with the clients is imperative During the actual clinical placement, I made time for short discussions within the clinic itself. Here, I formed an outline of the students individual values, attitudes and beliefs and gained insight to the students preferred mode of taking in information. Some were visual learners, others auditory and others learn best through hands-on approaches. Some students were self-directed and learnt on their own, while others were more passive and need to be encouraged and guided. This directed my teaching style and interaction with individual students. During this time the students themselves had the opportunity to identify any difficulties and analyse the procedures they had seen. I think these short discussions provided a positive learning environment where the students felt unthreatened and free to address their own learning inconsistencies. I also found that after a patient procedure is completed, a few Socratic questions helped develop the students problem solving skills and verbalise their understanding or misunderstanding of concepts (Heidenreich et al, 2000). Some students were asked to look up further on the some of the issues presented and offer their views on a later date. When the observation part of the session was over, the students actively participated in the hands-on practice of the skills. It is through practice that students continuously build a body of knowledge about their own practice, through reflecting, doing, thinking and learning (Jarvis 1992). Although, psychomotor skills varied from one student to another not necessarily in line with the knowledge they had, all of them were given the same opportunity to practice skills in the clinic. Some were more enthusiastic than others, asked questions, used every opportunity to practice and even went further and looked up additional information. Eraut et al (2004) maintain that central to all learning is the confidence and commitment to try out skills and to be proactive in seeking learning opportunities and therefore, the ultimate control over learning rests with the student. My main goal was to gradually and systematically withdraw to a watchful distance while the students carried out the proced ures assigned, safely without jeopardising the health of the clients. Self-assessment I have embarked on a steep learning curve. Although I have supervised dental, dental hygiene and dental assistants students for more than a decade, I must admit that this was the first supervision experience that had true meaning and value I could truly explain the reasons for my actions and decisions and planned the supervision sessions while envisaging outcomes. Subconsciously, I continuously referred to the theories and strategies of teaching and learning sometimes even unintentionally. Today, I can identify problems and loopholes within the systems currently employed to teach the various professions within the dental team. We can give so much more to empower the students to face the challenges of a clinic and to support them in their journey of becoming competent professionals. However, faculty, management, supervisors and clinicians alike need to work together, change and adapt current protocols and be open to innovations. A competency based approach might be a way forward. Competency frameworks are building blocks of a transparent process with hopefully, an end product of a competent graduate. This approach can be used to establish common ground of qualifications in the increasingly mobile European health care work force (Adam, 2004). Reflecting on my role in all this, I realise that I have many hurdles to surpass. With perseverance, commitment, negotiation and continued education I hope I can bring about some changes. However, I need to become more self-aware, since I believe that this empowers me to believe in what I am doing and to be more assertive. I intend to work for a more systematically coordinated, constructive, student-friendly, objective system of clinical supervision within the dental team. Conclusion Learning can be accidental, but teaching definitely cannot. Supervisors need to make use of the various teaching strategies and techniques and adjust them to the student learning needs to reach the ultimate objective of helping in the formation of competent practitioners.

Nike Case Study Essay

Kimi Ford, a portfolio manager at North Point Group, is looking into the profitability of investing in the stocks of Nike for her fund that she manages. She is supposed to base her decision the company’s data which was disclosed in the 2001 fiscal reports. While Nike management had addressed several issues that are causing the decrease in market sales and stock price, management presented plans to improve and perform better. Nike revenue has been at a plateau since 1997 yet net income and market share were falling. Supply chain issues and the strong dollar negatively affected revenue too. Plans are in place to address top line growth and operating performance. To boost revenue, the company would develop more athletic shoes in the mid priced segment which has been overlooked by Nike in recent years. They also planned to push their apparel line which under strong leadership had performed very well to control expenses. Revenue growth targets are around 8-10% and earnings targets are above 15%. Analyst reactions were mixed as some of them thought this was too aggressive. Lehman Brothers recommended a strong buy while others expressed misgivings and recommended a hold. At this point, North Point Group decided to do their own analysis in order to decide if Nike shares should be purchased for the fund. The weighted average cost of capital (WACC) is the rate that a company is expected to pay its debt and equity holders to finance its assets. It is the minimum return that a company must earn on existing asset base to satisfy its owners, creditors, and other providers of capital or they will invest somewhere else. Companies raise money from many sources such as common and preferred equity, straight, convertible, and exchangeable debt, options, warrants, pension liabilities, executive stock options, governmental subsidies, and others. Different securities, which represent different sources of finance, are expected to generate different returns. WACC is calculated taking into account the relative weights of each component of the capital structure- equity and debt, and is used to see if the investment is worthwhile to take part in. Management notices the cost of capital while making a financial decision. The concept is very relevant in the following managerial decisions and hence its importance: (1) Capital Budgeting Decision. Cost of capital may be used as the tool for adopting an investment proposal. Naturally, the firm will choose the project which gives a satisfactory return on investment which would never be less than the cost of capital incurred for its financing. In the many methods of capital budgeting, the cost of capital is the main factor in deciding the project out of different proposals pending before the management. It determines the acceptability of all investment opportunities by measuring financial performance. (2) Designing the Corporate Financial Structure. The cost of capital is a significant factor in designing the firm’s capital structure. The cost of capital is influenced by changes in capital structure. Financial executives keep an eye on capital market fluctuations and try to achieve the economical and sound capital structure for the firm. They may try to substitute the various methods of finance in an attempt to minimize the cost of capital a nd to increase the market price and the earning per share. (3) Deciding about the Method of Financing. Financial executives must have knowledge of fluctuations in the capital market and should analyze the rate of interest on loans and normal dividend rates in the market from time to time. Whenever company requires additional finance there are better choices of the source of finance which bears the minimum cost of capital. Although cost of capital is an important factor in such decisions, but equally important are the considerations of relating control and of avoiding risk. (4) Performance of Top Management. The cost of capital can be used to evaluate top executive financial performance. Evaluation of the financial performance will involve a comparison of actual profitability’s of the projects and along with the projected overall cost of capital and an appraisal of the actual cost incurred in raising the required funds. (5) Other Areas. The concept of cost of capital is also important in others areas of decision making, such as dividen d decisions, working capital policy, and more. WACC CALCULATION: [pic] One important question is if Joanna Cohen should use a single or multiple of capital for each of Nike’s footwear and apparel divisions? We agree with the use of single cost rather than multiple costs of capital. The reason of estimating WACC is to value the cash flows of the entire company that is provided by Kimi Ford. Plus, Nike business segments have a similar risk and thus a single cost is sufficient for this analysis. Joanna Cohen’s cost of debt was incorrect. An important fact is the WACC is used for discounting future cash flows, thus all components of the cost must reflect the firm’s concurrent or future abilities in raising capital. Cohen wrongly used the historical data in estimating the cost of debt. She divided interest expense by the average balance of debt to get 4.3% of before tax cost of debt. It doesn’t reflect Nike’s current or future cost of debt. The correct way to calculate the cost of debt is explained below. If the cost of debt is intended to be forward looking, it can be estimated by the yield to maturity of bond. The more appropriate cost of debt can be calculated with the data provided in Exhibit 4 of the case. Market data is correctly used rather than historical data. PV: 95.60 N= 40 Pmt: -3.375 FV: -100 The values above were put into Excel’s rate function. This came to a 7.16% annual cost of debt. The tax rate is 38%. The correct way to get the after tax cost of debt is to take 7.16% * (1-38%) = 4.44% The correctly calculated before tax cost of debt is 7.16%. This is significantly higher than Joanna’s incorrectly calculated cost of debt of 4.3%. Her incorrect calculation came from using historical rates rather than market rates. Next, the cost of equity is calculated. It is a good idea to use the 20 year T-Bond rate to represent the risk free rate. The cost of equity and the WACC are used to discount cash flows in the long run, thus rate of return of a T-Bond with 20 years maturity at 5.74% is the longest rate that is available. The geometric mean of market risk premium is 5.9%. This is more accurate than using arithmetic mean to represent market risk premium. By using arithmetic mean to represent true market risk premium, we have to have independently distributed market risk premium. It is often found that market risk premiums are negatively serial correlated. Market average Beta of .69 is used because it is a good indicator of the average Beta’s and their fluctuations throughout the years. Capital Asset Pricing Model (CAPM) |Cost of Equity(KE) | |KE = |Rf + ÃŽ ²(Rf – Rm) | |Rf = |5.74% | = |9.81% | |Beta |= 0.69 |Average Nike Beta | | Next, the weights of debt and equity need to be calculated. The market value of equity is $42.09 share price X 271.5 million shares = 11,427,000 Due to the lack of information of the market value of debt, book value of debt at 1296.6 million is used to calculate weights. Calculations for market and debt weights: 11,427,000 / (11,427,000 + 1297) = 89.8% Equity Weight 1 – 89.8% = 10.2% debt weight WACC Calculation 4.44% After Tax Cost of Debt X 10.2% Debt Weight + 9.81% Cost of Equity X 89.8% Equity Weight = 9.27% The CAPM method was used when calculating cost of equity for the WACC. Advantages and disadvantages of this method are explained below. Advantages: †¢ It only considers systematic risk, reflecting a reality in which most investors have diversified portfolios from which unsystematic risk has been essentially eliminated. †¢ It generates a theoretically-derived relationship between required return and systematic risk which has been subject to constant empirical research and testing. †¢ It is generally seen as a superior method of calculating the cost of equity than the dividend growth model (DGM) in that it explicitly takes into account a company’s level of systematic risk relative to the stock market as a whole. †¢ It is clearly better than WACC in providing discount rates for use in investment appraisal. Disadvantages: †¢ It is practically impossible to estimate betas for many projects. †¢ People sometimes focus on market risk rather than corporate risk, and this may be a mistake. The Dividend Discount Method is another method of calculating cost of equity. The assumption made with this model is that the company pays a substantial dividend, but Nike Inc. does not pay dividends. Therefore, we rejected this model since it does not reflect the true cost of capital. The method Compares dividends forecasted for the next period with the current share price for the firm and then adds the growth rate of the firm. Equation: Ke= D1/ P0 + g †¢ Variables: – G= the value line forecast of dividend growth, which equals 5.5% – PO= current share price, which is $42.09. – D1= DO (1+g), which equal .48 (1+.055) †¢ DO= from dividend history and forecast chart, which equals .48 Therefore, cost of equity = .564/42.09 + .055= 6.7% Advantages: †¢ Allow great flexibility when estimating future dividend streams †¢ Provide useful value approximations even when the inputs are simplified †¢ Can be reversed so the current stock price is used to impute market assumptions for growth and expected return †¢ Investors are able to suit their model to their expectations rather than force assumptions into the model †¢ Specifying the underlying assumptions allows for sensitivity testing and analyzing market reactions to ever changing circumstances Disadvantages †¢ Subjective inputs can result in wrongly specified models and bad results †¢ Over-reliance on a valuation that is really just an estimate †¢ Sensitivity is high to small changes in input assumptions †¢ Flow-through of minor formula or data entry errors when using spreadsheets The Cost of Equity Method is the other method for forecasting cost of equity. The final model used to compute the cost of capital was the earning capitalization model. The problem with this model is that it does not take into consideration the company’s growth. Therefore we chose to reject this calculation. The earnings capitalization model calculations were found this way: †¢ Stands for earnings capitalization model †¢ This model compares forecasted earnings for the next period over the current share price. †¢ Equation: – Ke: E1/ P0 †¢ Variables: – E1= (1+g) * (E0/ # of shares outstanding) †¢ G= retention ratio * return on equity †¢ Retention ratio= retained earnings/ net income †¢ 3194.3/ 589.7= 5.42 †¢ Return on equity= net income/ total shareholders’ equity †¢ 589.7/ 3494.5= 16.88% †¢ G= 5.42* 16.88%= .914 †¢ EO= Net Income, which equals 589.7 †¢ Share Outstanding= 271.5 – E1= ((1+.914) * 589.7)/ 271.5= 4.1572 – PO= Nike current share price, which is 42.09 †¢ Therefore, cost of equity= – 4.1572/ 42.09 = 9.88% Advantage Strong representation of earnings Disadvantages Brealey & Myers argue in Principles of Corporate Finance that this model is not good to use for growing firms but is appropriate for no-growth firms. Hence it is not appropriate for Nike Inc. since this company is still growing. Analysis and Recommendation Kimi ford used a WACC discount rate of 8.4% to find a share price of $63.50. Nike is currently trading at $42.09. This makes the share price undervalued by $21.41. However, her discount rate does not reflect true market value due to the mistakes in her methods we discussed earlier. The discount rate we came up with from using the CAPM was 9.27%. This higher WACC results in a lower share price of around $55.60. Share price has decreased once Joanna’s calculation methods have been corrected, but Nike is still overvalued so we still recommend buying the stock. Share price is now undervalued by $12.97. SWOT Analysis Strengths: †¢ Globally recognized #1 sports brand †¢ Strong marketing, research and development, and innovation †¢ Worldwide logo recognition, brand loyalty, and slogan â€Å"Just do it.† Weaknesses: †¢ Most profits are solely from footwear †¢ Revenue has plateaued, expenses have increased †¢ Supply chain issues affecting financial health too †¢ Price sensitive retail industry Opportunities: †¢ There are plans in place to address top line growth and operating performance †¢ Plans to create more athletic footwear †¢ Also plans to push apparel line †¢ High revenue growth (8-10%) and earning (15%) targets Threats: †¢ Uncertainties in international trade †¢ The market is cut throat †¢ Growing competition from other companies can lead to decreased market share DuPont Analysis †¢ Net Income: 589,700,000 †¢ Sales:9,488,800 †¢ Total Assets:5,819,600 †¢ Common Equity – Common Stock, Par: 2,800,000 – Capital in excess of stated value: 459,400,000 – Retained Earnings: 3,194,300,000 – Total: 3,656,500,000 †¢ NI/Sales: 589,700,000/9,488,800,000 = 6.2% †¢ Sales/TA: 9,488,800,000/5,819,600,000 = 1.63 †¢ TA/CE: 9,488,800,000/3,656,500,000 = 2.60 †¢ Profit Margin * TA Turnover * Equity Multiplier †¢ 6.2% * 1.63 * 2.60 = 26.27% ROE. This Return on Equity is high, further stating the fact that Nike stock is good to buy. Nike has strong financial health and its stock is a sound investment. It would make a valuable addition to any mutual fund. The End Thank You

Mycenae and Agamemnon Essay

Mycenae lies about 90 kilometres south-west of Athens. From around 1600BC-1100BC Mycenae was a highly wealthy and influential city, dominating much of southern Greece. The Mycenaean Era was named in reference to the city. THE DISCOVERY OF MYCENAE It was Heinrich Schliemann who first completely excavated the city of Mycenae. The controversial archaeologist was searching for evidence that Agamemnon, the king who led the Greeks to fight Troy in the Trojan War. Schliemann was determined to prove that the Trojan War was a real event; in fact his career was based around his desire for this. After failing to find any definitive evidence in his search for Troy, he turned to Mycenae. In 1841 another archaeologist had found and restored the Lion Gate that marks the entrance to the city of Mycenae, but Schliemann was the first to systematically excavate the entire site. He believed that the Homeric tales described actual historical events and used his discoveries at Mycenae to back this up. DISOVERIES MADE AT THE SITE Discovered in Grave Circle A by Schliemann’s team, a dagger shows the militaristic values of the Mycenaean’s. From the weapons buried with most of the bodies found, we can deduct that the Mycenaean’s were not a peaceful people. They revelled in fighting, as shown by the violent motifs on their stelae and decorative weapons. Most graves featured full sets of weapons, both real and decorative. We can assume that life for the men of Mycenae would have had a heavy focus on fighting , with men of higher status being shown as brave fighters. This is also shown through the architecture of the city, particularly the Cyclopean walls. These huge walls show a need for a defensive attitude, which demonstrates the Mycenaean’s military attitude. On this dagger there is a depiction of a lion hunt, which shows that the Mycenaean’s hunted for sport. This further reflects the aggressive principles of the city. Double axe and bull motifs show a Minoan influence in Mycenaean culture. Within the graves in Grave Circle A there were many objects that had been made in Mycenae but in Minoan style. This reflects an appreciation for Minoan design and an obvious link through trade and travel between Minoan Crete and Mycenae. Later the former would be conquered by the latter. In Mycenae there would have been trading of goods from Minoan Crete and an admiration of the techniques, since they were implemented in wares produced within Mycenae. The graves themselves also shed light upon burial practises and status in Mycenae. The graves themselves are shaft graves, 4 metres deep with the dead placed in a cist at the bottom along with many decadent grave goods. The Grave would sometimes be marked with a stone Stele at ground level. These stelae would be used to depict things like chariot scenes, showing the heroic nature of the deceased buried below. The grave goods showed the status of the deceased, with gold and weapons showing a higher status. This shows that burial was not only a valued practise, but also reflected status and worth, depending on what you were buried with. The so-called â€Å"Nestor’s Cup† was a particularly important discovery for Schliemann. His team recovered the vessel from Shaft Grave IV and Schliemann identified it as the â€Å"Cup of Nestor† as written about in the Illiad. However the cup differs from Homer’s description in number of handles, the design of the birds, and size. It also is from the wrong time to have been used in the Trojan War according to some critics. However, this didn’t discourage Schliemann from his firm belief in the Homeric tales. This is one of the many discoveries Schliemann made that he believed contributed to proving that the tales detail historical events. CONTROVERSIES Within a shaft grave V Schliemann discovered a skeleton with a gold mask covering his face- a face which he believed was that of the legendary Agamemnon. However, in recent years critics have developed more and more arguments to the effect that the mask may be a hoax. William Calder gives the following reasons for his sceptical nature towards Schliemann’s find: The features of the mask are inconsistent with the other masks found; Schliemann had considered making fakes of the gold he found at Troy to give forgeries to give to the government; contemporaries of Schliemann allege that he planted artefacts to later â€Å"discover† them; the excavations at both Mycenae and Troy had been closed just a few days after the discovery of the gold, suggesting that he was expecting to find these treasures and nothing else; excavations were closed for 2 days shortly before Schliemann found the mask, what could Schliemann have been doing; Sophia allegedly has a relative in Athens that was a goldsmith; No other Mycenaean grave has anywhere near what was discovered in shaft grave V; Schliemann had claimed he had excavated other finds elsewhere, when it was later revealed that he had bought them. David Traill suggests that perhaps the Agamemnon mask wasn’t manufactured, but found from a later tomb. Both of his appeals for a scientific examination of the mask have been denied by the Greek authorities. In response to Calder and Traill many argue that their claims are unfounded and lack any scholarly backing, and have their own arguments in response. They insist that Schliemann was carefully monitored by Greek authorities throughout his excavation, which both Calder and Triall admit to in their own publishing. Kenneth Lapatin explains that the days where Calder alleged Schliemann had time to get a mask made, were before any masks had been found yet. Although he does admit it is possible the mask may have been â€Å"enhanced† after it was discovered. Both sides of the debate present both personal opinions and insinuations mixed in with actual fact. Considering the dishonest nature of Schliemann it is easy to believe he planted the mask. But when considering the work at Mycenae alone, there is no undoubtable evidence to suggest that he was dishonest about that particular find, only rumour and hearsay. From the collections of circumstantial suggestions put forward by Triall and Calder, their theories become increasingly believable. However, some parts of their arguments seem reminiscent of conspiracy theories, so perhaps it’s best to take the mask as an important –if disputed- archaeological find, but not proving the existence of Agamemnon. BIBILOGRAPHY http://library.thinkquest.org/25245/archaeology/mycenae.html http://www.ancient-wisdom.co.uk/greecemycenae.htmhttp://mycenae-excavations.org/about.html http://www.historywiz.com/agamemnon.htm http://odysseus.culture.gr/h/3/ eh351.jsp?obj_id=2573 http://www.uark.edu/campus-resources/achilles/age/myceneans.html http://www.archaeology.org/9907/etc/calder.html http://www.archaeology.org/9907/etc/lapatin.html http://en.wikipedia.org/wiki/Grave_Circle_A,_Mycenae http://www.archaeology.org/9907/etc/traill.html http://www.ancientgreece.com/essay/v/greek-life-as-depicted-in-homers-epic-the-odyssey/ http://www.archaeology.org/9907/etc/dema.html http://www.greek-thesaurus.gr/Mycenaean-weapons.html

buy custom Critical Analysis essay

buy custom Critical Analysis essay The Importance of Being Earnest is a play written by Oscar Wilde, which was first performed in 1895 at the St. James's Theatre in London. In this play, Oscar Wilde introduces the protagonists that make an attempt to escape from the social obligations. This play focuses on the desire of two selfish gentlemen, John Worthing and Algernon Moncrieff, to marry two girls (Wilde 12). Both characters introduce themselves as Ernest in order to attract these girls. However, in the end, they are disclosed and the girls discover the truth about young men. In the final scene, it appears that John and Algernon are brothers. Moreover, one of them is really named Ernest. In this play, Oscar Wilde raises many social and moral issues, such as hypocrisy, platitude etc., though a political aspect was not left without attention too. Thus, the main theme of this play is deriding moralism and hypocrisy in the Victorian age and their impact on the social standards of that time, and to develop this theme, Osc ar Wilde utilizes a variety of symbols and imagery. At first glance, the play seems to be about the nature of marriage and its positive and negative sides. For instance, Lane states that marriage is considered to be a pleasant event only if it is not ones own marriage (Wilde 23). However, the play The Importance of Being Earnest is oriented to a reader who is able to notice what lies beneath the mask of marriage. The true point of this play is the immoral actions of a moral society where nobody truly obeys the morality, and everybody only wears the mask of decency. Oscar Wilde tries to introduce the true image of society of the Victorian age through the paradigm of sarcasm and humor. However, he is not concerned about ientifying what is moral and what is immoral. He believes that it is funnier to present the strict moral code of the Victorian society and the despicable attempts of people to define what others should or should not do. Hence, one faces misunderstanding because people are the only ones who create the standards that they themselves do not want to maintain, but they believe that others should do it. The name of the play includes a moral paradox itself. Earnestness, which involves being serious and being sincere, becomes the main object of Wildes satire. According to this fact, earnestness becomes the opposite side of morality in The Importance of Being Earnest. This phenomenon may be presented in various forms, such as sense of duty, pomposity, complacency, boringness or self-righteousness. Wilde sees all these qualities in the society of the Victorian age and tries to demonstrate these qualities, using the bright example of contemporary gentlemen. In fact, the meaning of all words is misunderstood in this play; the characters have their own vision of each quality. For instance, the word serious is viewed as trivial; Algernon says that it is shallow for people not to be serious about meals. Oscar Wilde views earnest in two different ways: as a notion of morals and a notion of false truth. The moralism of the Victorian age does not give the correct name of the same meanings. For instance, if a member of this society believes that something is decent, it does not mean that decent is really what this individual thinks. According to this fact, the plays paradox predetermines that one cannot be earnest in reality if he/she claims that he/she is earnest. Hence, those characters that are cconsidered to be trivial or sinful may in fact appear to be the most noble and trustworthy. In his play, the author utilizes much symbolism and imagery. For instance, the double life is an essential metaphor in the Wildes literary work that is symbolized in the notion of Bunburying or Bunbury. As it is delineated by Algernon, Bunburying means creating a complicated deception that allows one to misbehave while seeming to sustain the uppermost norms of responsibility and duty. Jacks imaginary, rebellious brother named Ernest is a tool for evading moral and social responsibilities. In addition, he gives Jack an opportunity to appear far more ethical and conscientious than he in fact is. Another symbol here is food and eating as a whole, which appear in the play rather frequently and are nearly always the cause of conflicts. To conclude, The Importance of Being Earnest is the play that reveals various problems of the Victorian society. Oscar Wilde makes an attempt to illustrate the wickedness of the society in a satiric manner. He despises the society, in which the dignities and virtues lose its true meaning. People use a word to name something, but they do not really mean what they say. Hence, the entire sense of all words is lost; everybody means what he/she wants to mean, but not what a word really means. Oscar Wilde demonstrates that even the most honorable people of that era do not know what is right and what is wrong from the moral point of view; they only do what is accepted by the social standards and what seems acceptable to them. Thus, the title of this play indicates importance to use the real meanings of the words, but not those that one wants it to mean. Buy custom Critical Analysis essay

The Invention of the Saddle Stirrup

The Invention of the Saddle Stirrup It seems like such a simple idea. Why not add two pieces to the saddle, hanging down on either side, for your feet to rest in while you ride a horse? After all, humans seem to have domesticated the horse around 4500 BCE. The saddle was invented at least as early as 800 BCE, yet the first proper stirrup probably came about roughly 1,000 years later, around 200-300 CE. Nobody knows who first invented the stirrup, or even in which part of Asia the inventor lived. Indeed, this is a highly controversial topic among scholars of horsemanship, ancient and medieval warfare, and the history of technology. Although ordinary people likely do not rank the stirrup as one of historys greatest inventions, up there with paper, gunpowder and pre-sliced bread, military historians consider it a truly key development in the arts of war and conquest. Was the stirrup invented once, with the technology then spreading to riders everywhere? Or did riders in different areas come up with the idea independently? In either case, when did this happen? Unfortunately, since early stirrups were likely made of biodegradable materials such as leather, bone, and wood, we may never have precise answers to these questions. First Known Examples of Stirrups So what do we know? Ancient Chinese Emperor Qin Shi Huangdis terracotta army (c. 210 BCE) includes a number of horses, but their saddles do not have stirrups. In sculptures from ancient India, c. 200 BCE, bare-footed riders use big-toe stirrups. These early stirrups consisted simply of a small loop of leather, in which the rider could brace each big toe to provide a bit of stability. Suitable for riders in hot climates, however, the big-toe stirrup would have been no use for booted riders in the steppes of Central Asia or western China. Interestingly, there is also a small Kushan engraving in carnelian that shows a rider using hook-style or platform stirrups; these are L-shaped pieces of wood or horn that do not encircle the foot like modern stirrups, but rather provide a sort of foot-rest. This intriguing engraving seems to indicate that Central Asian riders may have been using stirrups circa 100 CE, but it is the only known depiction of that region, so more evidence is needed to conclude that stirrups were indeed in use in Central Asia from such an early age. Modern-style Stirrups The earliest known representation of modern-style enclosed stirrups comes from a ceramic horse figurine that was buried in a First Jin Dynasty Chinese tomb near Nanjing in 322 CE. The stirrups are triangular in shape and appear on both sides of the horse, but since this is a stylized figure, it is impossible to determine other details about the construction of the stirrups. Fortunately, a grave near Anyang, China from approximately the same date yielded an actual example of a stirrup. The deceased was buried with full equipage for a horse, including a gold-plated bronze stirrup, which was circular in shape. Yet another tomb from the Jin era in China also contained a truly unique pair of stirrups. These are more triangular in shape, made of leather bound around a wooden core, then covered with lacquer. The stirrups were then painted with clouds in red. This decorative motif brings to mind the Heavenly Horse design found later in both China and Korea. The first stirrups for which we have a direct date are from the tomb of Feng Sufu, who died in 415 CE. He was a prince of Northern Yan, just north of the Koguryeo Kingdom of Korea. Fengs stirrups are quite complex. The rounded top of each stirrup was made from a bent piece of mulberry wood, which was covered with gilded bronze sheets on the outer surfaces, and iron plates covered with lacquer on the inside, where Fengs feet would have gone. These stirrups are of typical Koguryeo Korean design. Fifth-century tumuli from Korea proper also yield stirrups, including those at Pokchong-dong and Pan-gyeje. They also appear in wall murals and figurines from the Koguryeo and Silla dynasties. Japan also adopted the stirrup in the fifth century, according to tomb art. By the eighth century, the Nara period, Japanese stirrups were open-sided cups rather than rings, designed to prevent the riders feet from becoming entangled if he or she fell off (or was shot off) of the horse. Stirrups Reach Europe Meanwhile, European riders made do without stirrups until the eighth century. The introduction of this idea (which earlier generations of European historians credited to the Franks, rather than Asia), allowed for the development of heavy cavalry. Without the stirrups, European knights could not have gotten onto their horses wearing heavy armor, nor could they have jousted. Indeed, the Middle Ages in Europe would have been quite different without this simple little Asian invention. Remaining Questions: So where does this leave us? So many questions and previous assumptions remain up in the air, given this somewhat scanty evidence. How did the Parthians of ancient Persia (247 BCE - 224 CE) turn in their saddles and fire off a parthian (parting) shot from their bows, if they did not have stirrups? (Evidently, they used highly arched saddles for extra stability, but this still seems incredible.) Did Attila the Hun really introduce the stirrup into Europe? Or were the Huns able to strike fear into the hearts of all Eurasia with their horsemanship and shooting skills, even while riding without stirrups? There is no evidence that the Huns actually used this technology. Did ancient trade routes, now little remembered, ensure that this technology spread rapidly across Central Asia and into the Middle East? Did new refinements and innovations in stirrup design wash back and forth between Persia, India, China and even Japan, or was this a secret that only gradually infiltrated Eurasian culture? Until new evidence is unearthed, we will simply have to wonder. Sources Azzaroli, Augusto. An Early History of Horsemanship, Leiden: E.J. Brill Company, 1985.Chamberlin, J. Edward. Horse: How the Horse Has Shaped Civilizations, Random House Digital, 2007.Dien, Albert E. The Stirrup and Its Effect on Chinese Military History, Ars Orientalis, Vol 16 (1986), 33-56.Sinor, Denis. The Inner Asian Warriors, Journal of the American Oriental Society, Vol. 101, No. 2 (Apr. - June, 1983), 133-144.

US Colonial North American from 1607-1865 Research Paper

US Colonial North American from 1607-1865 - Research Paper Example I oppose his idea of containment. We have seen how the governor implements his ideas. He looks for opportunities such as this to increase taxes and exploit the business community (Billings 90). I oppose that and call for the elimination of Indians. Containment is Governor Berkeley’s avenue to raise taxes. Furthermore, the idea is not viable. Instead, the governor should find a long-lasting solution to the Indian menace. The governor has constantly called for containment, a policy that will result in the creation of fortified defensive systems. The idea is to arm the whites and make them ready for any attack. In case of such attacks, the whites with their weapons will come out and kill the Indians. This proves that we are talking about the same thing, extermination of the Indians. That remains the surest way of dealing with the Indian menace; the natives have systematically raided white homes and killed the people I represent. While we both propose the same idea, I call for a cheaper way of dealing with the problem, one that will not cause the hard working whites any increment in taxes. The governor has corrupted the political system. I oppose his governance because of his corrupt ways. He has cunningly removed the system of public rule by bribing the entire Lower House of the Assembly. He gives massive favors to his friends in the assembly thereby turning noblemen into â€Å"yes men† who cannot oppose the governor (Grizzard and Smith.51). The poor whites that I represent continue to languish in poverty and live in deplorable conditions. I refuse to watch Englishmen suffer while the governor continues to enrich himself. He for example influenced the Burgesses to meet at statehouse where he made it clear to the representatives that they served at his mercy. I oppose such an archaic system of government and propose a society where we will not have to worry out protecting ourselves because of a weak enemy that we

CRM Research Paper Example | Topics and Well Written Essays - 1250 words

CRM - Research Paper Example Its market share has reached 20% in the hypertension drug market. The company wanted to raise the awareness about Amodipine brand through advertising it as nation’s hypertension drug (Hanmi, â€Å"Hanmi at Glance†). Clari is another major pharmaceutical product of Hanmi Pharmaceutical Company. It is a Macrolide Antibiotic. It is one the Hanmi’s first generic drugs which are used to cure infection. It has benefited Hanami with robust sales and has ranked second in the sales of drugs after amodipine. Its sales were above 10 million USD in the year 2009 (Hanmi, â€Å"Hanmi at Glance†). Hanmi Pharmaceutical Hanmi Pharmaceutical Company was established in the year 1973 and from then onwards it has grown remarkably. Hanmi incessantly showed 20% to 30% growth rate since its establishment. It has emerged as one of the largest pharmaceutical companies in Korea. In the year 2008 its sales was more than 558 million USD. By developing good R&D strategy Hanami Pharmace utical has now been able to become a most competitive organization in the international market (Hanmi, â€Å"Hanmi at Glance†). Value of Customer Relationship Management (CRM) CRM is an approach to create, expand and maintain customer relationship. It provides a vision to an organization in order to deal with their valuable customers. To meet these visions, organization should implement effective CRM strategies that can increase the sales, develop the customer service, marketing and data analysis activities. Notably, the main objective of CRM is to maximize beneficial relationship with customer for both dealer and customer. Hanmi’s high quality marketing as well as sales based information technology is considered as the main driving force which has resulted in consumer growth. Hanmi Pharmaceutical is dedicated to develop and provide innovative and valuable drugs to the customer to maintain an effective customer relationship. Hanmi Pharmaceuticals has been producing Cep halosporin products since 1987 and supplies products in over 40 countries. Hanmi has a wide range of customers in many countries of the USA, Europe and Asia. Their new manufacturing plant has the ability to produce many ‘innovative drug APIs and intermediates’ (Hanmi, â€Å"Hanmi at Glance†). Hanmi Pharmaceutical also maintains efficient relationship with their global partners for exploring modified drugs such as esomeprazole, clopidogrel, clari, amodipine and others. Hanmi is also working to find business partners in other parts of the world where they have not established yet (Hanmi, â€Å"News Archives†). In the year 2007 Hanmi Pharmaceutical got â€Å"Forbes management first prize†. Forbes had put a high valuation on Hanmi because of adopting ERP IT technology and took the social responsibility through a sustainable management approach. Hanmi Pharmaceutical always supports society to help customers live better in a cleaner environment. For insta nce, for children Hanmi changed single cap medicine to double capped medicine. It planned and promoted various strategies to upgrade the quality of life of customers with efficient CRM strategies (Hanmi, â€Å"News Archives†). Customer Retention Program (CRP) Often organizations develop programs which offer purchase inducement, such as discounts on any purchase from any company or â€Å"soft benefits† which is referred to as Customer Retention Program (CRP). An effective CRP includes plans and methods for identification and registration of customer, customer segmentation, design