The Ethics of Steroids in Professional Sports

Currently in professional sports, the use of steroids is one of the most highly debated and controversial topics. It seems that every day there is an athlete being suspended, fined, and even prosecuted for using these performance-enhancing drugs. In many cases, sports fans will condemn these athletes for their involvement in steroids. As I looked deeper into the subject I thought to myself, â€Å"what is so wrong with athletes trying to take their game to the next level?† Because ultimately, that’s what the real issue is here; its just professionals doing what they can to get ahead in their job and it seems to be perfectly ethical.One of the main arguments in the ethics of steroids in professional sports is that it is unhealthy to the body, which is completely true. The prolonged used of anabolic steroids can cause liver damage and contribute to hormone imbalances among other things; however, this does not make it unethical. Let’s not forget that these athletes a re playing sports that in many cases are already a danger to their bodies. When was the last time you heard of an athletes going to the hospital for the use of steroids? Yet everyday there is a case of a professional athlete tearing a muscle or incurring serious head injuries. Studies actually show that deaths from playing college and professional football are 50-100 times higher than the use of steroids. Just because somebody does something that may be harmful to their body, it doesn’t mean their wrong in doing so. For example, if a guy is hungry and decides to eat out at a fast food restaurant, is he pursuing something unethical? We all know the unhealthy effects fast food has on the body, but that doesn’t make it wrong. Adults should be able to make their own decisions when it comes to their personal well-being and if they decide to do something that may be harmful, then so be it.Protestors against steroids also claim that athletes using performance-enhancing drugs are a bad influence on our youth. Kids idolize athletes and if they see their favorite superstar using steroids, then they will want to also. I do see some truth in that and agree 100 percent that there is no place for steroids in child’s body. On the other hand I also contend that professional athletes have no obligation to live their lives conforming to a â€Å"role model† image. In Major League Baseball, the players are allowed to use chewing tobacco during games and it is clearly seen by the youth watching on TV. Also, In the National Hockey League, there is an immense amount of violence and fighting plays a big part in the sport. These examples are also bad influences on children, yet they are apart of the game and don’t seem to be getting banned anytime soon.As for the argument that steroids taint the game that so many love, I don’t see truth in this at all. There are constantly new techniques and technology being added in sports all for one purpose , to make the game better. Athletes dating back to the ancient times have been doing whatever they can to gain a competitive edge. The Greeks used to eat live bees for potency before matches and Mayans would take hallucinogens to numb the pain taken from their sport. So why is it unethical for an athlete to use steroids for this same purpose? Some say that athletes in the past didn’t have the luxury of steroids, so it eliminates the records and legacy of the past. But regardless, due to the revolutionary increases of technology, such as a newly designed baseball bat or a more aerodynamic track uniform, players are going to be better and these records are going to be broken.

My Professional Goals

My long term professional goal is to be a Pediatrics Nurse Practitioner. Being a caring person especially to the children is a part of my personality. I have always loved children and it burdens me whenever I see children sick. Sympathizing will not do any good, I have an urge to do something to cure, prevent and ease their ailments so I concluded that being a Nurse would be the best choice. Every time my children got sick I wish that I could respond not just as a parent who support but a parent who cares. An event that really encouraged me to pursue becoming a Pediatrics Nurse Practitioner is when my two-year old daughter got a second degree burn. She was admitted at the Children’s Hospital in Seattle, WA. I saw the nurses taking care of my daughter more than I could. I am neither intimidated nor jealous of the nurse looking after my daughter. What I felt was guilt. I know that I have the passion for taking care of children. I know that I am capable of being a good nurse. After that event, I made up my mind to I will be a Pediatric Nurse. I am pursuing the nursing field so that I can graduate as a Registered Nurse with Bachelors of Science degree. I will work as a staff nurse, but after about a year I want to choose my specialty as a pediatrics nurse. I am also aiming to apply in a graduate school to achieve my ARNP license and to get my masters degree in Nursing with the specialty of pediatrics. Then I plan to work as a Pediatrics Nurse Practitioner for a hospital or clinic. I have a desire to go in rural areas in able to help more children because medical treatments are limited in such areas. I am hoping to be accepted to the nursing school so that I can achieve my first goal towards success.

Gods Gods And Goddesses

The term gods and goddesses can be best explained and understood under four sediment cultural predispositions. First is the monotheistic culture of uneven attitude towards gods and goddesses when God is said to serve as the supreme being of the universe, the one who there are no others, in contrast to the observation Of the Greek philosopher Thales that † the world is full of gods†, the central of Islam begins, â€Å"there is no other God but Allah† and the warning â€Å"you shall have no other gods before† which heads the lists of the ten commandment given to Moses in the biblical world.Secondly, the demystification of the universe comes from the Scientific rationalism that Gods are fiction, a mere projection of natural realities. Thirdly approach is the deistic conceptuality with a general ideas as a metaphysical hypothesis designating ultimate order in the universe, something to be argued about and not something to be sacrificed to. Fourth is the Universa lism one that the main gods of the world religions are all versions of the same affable divine reality such as Allah, God, Brahmas, Buddha and Tao from various transcendent mystery.Like myth and rituals, a god is a form of religion that can have any content, which could be demonic or benign, male or female, limited or unlimited in power. It can represent the power of vengeance, kingship, love, ancestry, luck, territory, wisdom, fertility and consciousness. The word god is used generically here to mean any superior being that humans religiously engage; either being visible, invisible, inhabiting past, present or future can function as a god.Buddha and bodhisattva function as gods in many ways, even though they are a very different genre of being than gods of theism. God, odds and goddesses are not fantasy symbols but beings whose realms cannot be violated with impunity and also correlates with the critical points of a world where humans are most open to the power of the others, from political order to ritual purity. Traditionally, Ancestors, Elders and emperors receiving the same reverence as gods appearing as messiah, redeemers and inner guides delivering them of illness and supplications.Hindus acknowledge that, at the most fundamental level, God is the One without a second -? the absolute, formless, and only Reality known as Brahmas, the Supreme, universal Soul. Brahmas is the universe and everything in It. Brahmas has no form and no limits; it is Reality and Truth. Thus Hinduism is a pantheistic religion: It equates God with the universe. Yet Hindu religion is also polytheistic: populated with myriad gods and goddesses who personify aspects of the one true God, allowing individuals an infinite number of ways to worship based on family tradition, community and regional practices, and other considerations.The Your treat their ancestors with great respect, as might be expected in a culture with only oral records of the past, but anthropologist's debate as to w hether the rituals dealing with ancestry are religious in nature, or simply respectful. At least a few groups believe that ancestors, after death, become demigods, but only once they have assumed the personal of a true deity. This resembles another facet of the Your faith, the phenomenon of possession, in which mediums take on the characteristics of one or another of the gods.The characteristics of each god are so well stereotyped that mediums as far off as Haiti loll back their heads and cross their legs in the same way when possessed by the lightning god (Idiot, 1963). In traditional Roman Catholicism the polytheistic outlook Was carried on to some degree in the veneration of multitude of saints. Forty different saints were invoked in the French Vogues as â€Å"guardians of livestock and protectors from all kind of sickness such as gout, toothache and burns (SST.Augustine for instance protected one from warts), as protectors in the storms and against fleas. In Asian, there is a s imilar assimilation of native spirits of Buddhist saints. The name of invocation could change but the domain (childbirth, small pox etc) of the god or saint remained the same. Some gods are patrons of specific communities of people. In traditional cultures every significant collectivity would have a sacred group spirit of some kind. In many societies domestic spirits or ancestors rule the household circle.The Japanese sun goddesses, Amateurs, is the ancestress of all the gods, the imperial family, and ultimately the Japanese people. Maltreat was the god of tire, Moloch of cartage, Estate of Blush, Maraud of Babylon, Jupiter of Rome and Heehaw of Jerusalem. Christians profess Jesus as their personal Lord and Savior, leaning his presence in the heart and a desire that they are not alone. Mahayana Buddhist tradition speaks of every one being â€Å"the Buddha† â€Å"Islamic mysticism takes its cue from the Guarani phrase that Allah is closer to us than our very jugular veins.The faiths of the Hardbound peoples of Western Nigeria vary significantly from one part of the region to another; the same deity may be male in one village and female in the next, or the characteristics of two gods may be embodied in a single deity in a neighboring region; in the city of Ill Fife in Nigeria alone the trickster god is worshipped under three different names. These variations inevitably arose as the myths were passed by word of mouth; add to them the incorporation into the Your faith of facets of outside religions, particularly Christianity and Islam, and understanding the faith becomes difficult indeed.The religions, however, share a similar structure, â€Å"diffused monotheism†; a single omnipotent creator-god rules over the universe, along with several hundred lower gods, each with a specific domain of rule. Shannon, the god Wool Saying refers to in his poem â€Å"aunt of he Stone†, occupies a major position in the pantheon of the Your, although he holds a less important position in neighboring ethnic groups. Shannon (also spelled Gangs and Sago) creates thunder and lightning by casting â€Å"thunderstorms† down to earth; wherever lightning strikes, priests search the surrounding area for the thrown stone.The Your believe these stones have special powers, and they enshrine the stones in temples to the god. The Your people do not consider him the most powerful or even the most important god; rather, his popularity may have resulted from attempts to radar off the frequent tornadoes that strike western Africa. Curiously, the Your never actively worship their all-powerful god, variously known as Loran (â€Å"the owner Of the sky†) or Lodestar (roughly translates as â€Å"the almighty†), among many other names.Unlike Shannon, who has dozens of shrines erected to him, Loran has not a single shrine; the Your never make sacrifices to him, and he has no priests. He plays much the same role as do the Jude-Christian and Is lamic gods– he is â€Å"the creator of all things, the almighty and all-knowing, the giver of life and breath, and the final judge of mankind†, and yet the Your apparently ignore him in their day-to-day lives.A theory explains that perhaps Loran developed through the influence of early Islamic or Christian missionaries, as a simulacrum of the gods of those religions. This finds support in the argument that the Your find the concept of an almighty God so overwhelming and remote that they cannot relate Loran to their reality. Some Your legends have a pair of gods, Originals (Bobtail, Arise-anal) and his wife Audio, as supreme creating deities, either independent of almighty Loran or preceding him.

Rise and Fall of Countrywide Home Loans, the Mortgage Crisis, and the Essay - 1

Rise and Fall of Countrywide Home Loans, the Mortgage Crisis, and the Default of the American Dream - Essay Example It is evidently clear from the discussion that the absence of timely solutions yielded to untold stress and even depression among the citizens who resulted in diverse coping skills depending on one’s inclination. The current crises comprise mortgage recession and unemployment crises that have continued to persist despite the current regime’s recovery efforts (Johnson, 2010). Mortgage crisis that is evident currently, emanated from the Americans' enthusiasm coupled with greedy to own houses (Johnson, 2010). Since owning a house as a property is a pride towards the attainment of the glorified â€Å"American Dream† that has made numerous people in 2007 to be victims of the mortgage crisis. The then mortgage rates and even reimbursement installments where manageable, since banks aided willing borrowers in the project via offering low rates. This was easy cash meant for borrowers, who attained it from option-ARMs to qualify for mortgages with a title or no documentati on. In America, that time almost every person qualified for a mortgage even those having poor credit terms, for instance, subprime borrowers. Unfortunately, the rates and installments meant for the borrowers underwent unpredictable alterations due to the global economic meltdown. This prompted people having their installments paying lagging behind by even three months besides other loans. In addition, the issue of foreclosure crept in due to augmented rates, where over 50% of citizens were at the verge of being homeless (Johnson, 2010). Hence, contributing mutually to physical and psychological miseries result in diverse coping behaviors. Unemployment is an economic challenge, which America currently is undergoing coupled with meager earnings from the majority of its permanent jobs. Joblessness is an aspect that is contributing immensely to the dilapidation of numerous citizens’ health, which at some occasions when it extends beyond certain limits yields to chronic maladies ( Hunter & Gillen, 2009). For instance, mental and psychological related diseases that emanate from prolonged unemployment or even financial difficulties due to unsatisfying scanty wages. Studies depict; individuals who have experienced prolonged joblessness probably over 25 weeks are more likely to suffer from mental complications than those employed, despite the salary they attain. Statistics indicate that whites have the lowest percentage of joblessness of approximately as contrasted to other races; a reason that makes the most affected people being, not the original natives (Johnson, 2010). The study also encompasses those people from the marginalized races, who form the majority and at one time in their life thought that committing suicide was a better option. Recession currently has profoundly affected numerous American aspects that entail both private and public enterprises. Its gravity is due to its nature that it affects all the citizens despite they are either high or lower earners since it entails significantly slowing the economy of the state. Hence, result in the retrenching of employees due to scanty profits. For instance, foreign firms those have invested in America, once they realize that they are not making the anticipated profits. They decide to shrink the workforce, thus leaving numerous people jobless and experiencing harsh financial difficulties, which affect them psychologically due to stress or hopelessness.

The Evolution of E-Marketing Tools Research Paper

The Evolution of E-Marketing Tools - Research Paper Example E-Marketers can also use other media such as phones for purposes of advertising their products. There is also the installation of electronic billboards installed on public places and bus stations. E-Kiosks have also emerged, and are used in large malls for purposes of advertising the products of a company. It is also possible for markers to create video brochures, and insert them in feature films, just for purposes of targeting their intended customers (Belch and Belch, 2012). The internet is the most dominant form of e-marketing. Companies use the social media like face book, and twitter to advertise their products. These social media advertisements have the capability of reaching a wide audience of people. It is also a very fast way of sending a message to a wide audience of people. Companies also use their websites, and Google search engine technologies to advertise their products. Google has a pay per click advertisement policy where advertisers pay for their products, once an in dividual clicks on a link that take them to their advertising pages (Juon and Greiling, 2012) . The major challenge in using the internet as a tool of marketing is the inability of the company under consideration to drive traffic to their websites, and create content awareness. ... The social media is a very effective method of conducting a marketing campaign; however, most marketers are unable to use it to their advantage. This is because they are unable to understand the various needs of their target customers. The pioneer of early marketing system is Johannes Gutenberg, with his invention of the printing press that had a replaceable wooden or metal letters (Jones, 2012). This machine had a capability of typing and printing letters in a very effective manner. For example, he managed to use this machine and his printing press to create the Gutenberg Bible in 1455. As a result of this innovation, the use of printing machines spread rapidly in Europe. The Gutenberg press led to the revolution in the manner in which information was passed to the masses. This is because it was now possible to print a mass of brochures and flyers. The Gutenberg Bible is the first written material produced by the use of this technology. This printing press technology remained the st andard until the 20th century, when the evolution of computers emerged (Jones, 2012). Another technology that shaped early marketing is the development and evolution of the telegraph. The telegraph involves a long distance transmission of a message, without the physical presence of the person disseminating the information. The telegraph was invented by Samuel Morse in 1837. Through a series of experiments, Samuel Morse concluded that the telegraph was able to record and transmits messages over a long distance. The telegraph was able to transmit mass messages, and hence it made it possible for markers to use it in marketing their products. In 1922, a new concept of advertisement began, and was referred to as radio-advertising (Jones, 2012). This was a concept whereby companies bought air

Planning Assignment Example | Topics and Well Written Essays - 1000 words

Planning - Assignment Example With this concern, this paper intends to discuss about how Starbucks managed to come to its current position with respect to record earnings in the context of a SWOT analysis. Discussion SWOT analysis is a method or a study which is usually adopted by an organization to evaluate its internal strengths along with weaknesses and external opportunities as well as threats (United States Department of Agriculture, n.d.). The following discussion has been made within the circumstance of SWOT analysis of Starbucks which would reveal about how Starbucks has managed to come to its current position with respect to record earnings. Strengths: Strength is usually considered to be the internal factor which helps an organization towards efficiently achieving its expected organizational goals. In comparison to other coffee house chains in the world, Starbucks is pretty much known to almost every one. The company is renowned to serve its customers with quality as well as standardized products which eventually made the company to earn record earnings in this present day context by a certain degree. In terms of strength, it can be viewed that the company has been listed in the 7th position as one of the finest companies to work for in the year 2008. Though it has been viewed that the number of competitors are increasing at a rapid speed, certain aspects like superior brand awareness, attractive financial position and its strategy of expanding into new business are considered to be vital strengths of the company (SlideShare Inc., 2013). Weaknesses: While most people think Starbucks coffee as a luxury good and is ready to pay any price for it, but the increasing cost in its products has been debatable amid several customers. It has been viewed that there is a constant change in the price of its coffee based products. The main weakness of Starbucks can be apparently observed as that its entire business is mainly dependent on its coffee based products. Whereas, it’s one of th e competitors named Dunkin’ Donuts is involved in performing various sorts of businesses. In addition to its increasing cost of the products, it has also been viewed that the company has also lacked in handling international relations in the past. It is worth mentioning that coffee is duly regarded as a substitute product denoting that people are willing to change their preferences, if there lay high increase in the price level of the products (Higbee, Liaw, Ting, Tjho & Ton, n.d.). Opportunities: One of the best opportunities which is helping and would help Starbucks to maintain its leading position in the coffee industry is technology. The company has been viewed to implement new technologies that not only help to enhance its overall performance but also to come to its current position with respect to record earnings through making continuous research and development (R&D). Specially mentioning, acquisition of certain renowned companies such as Seattle’s Best, XM Caf e, and Tazo Tea has also helped Starbucks to expand itself in various parts of the world resulting in strengthening its current position with regard to record earnings by a significant level. Furthermore, acquisitions of certain other companies like Bay Bread and its La Boulange bakery can also be considered as providing major opportunities for Starbucks by a certain degree. The strategy of Starbucks to

Choose a Print Advertisement of your choice and write a three-part Essay

Choose a Print Advertisement of your choice and write a three-part analysis of its message and how it attempts to persuade - Essay Example (Ten Arguments in favor of Baygon, n.d) Now, the branding and advertising department of Baygon needed to push the envelope in creating an ad that would exaggerate its effectiveness and strength with a new age, hip and comic way to appeal to the customers. At the same time, there had to be an element the product could relate to. They couldn’t show Baygon taking out a dinosaur or a crocodile, the product is made for insects and such a concept would be wrong and disturbing at the same time. It could cause negative effects. Since the world is moving towards a more superhero trend with movie remakes and the new found craze, Spiderman is one of the most popular of all time movies with an enormous fan base (Spider-Man Official Site, n.d). Now an ad needed to be created that would not be offensive and would be funny and persuasive. Baygon decided to make Spiderman its victim, a superhero that was a result of a mutant super spider bite and had amplified super spider like abilities that even the toughest villains couldn’t combat against. It may seem that Baygon would favor the bad guys but the ad creates a funny feel. The advertisement image they decided upon was Spiderman knocked out, lying unconscious and displaying a Baygon spray can at the lower right corner. Pretty simple but the message is hilarious, appealing and strong. As mentioned earlier, customers buying insecticide sprays needed to be persuaded with the spray’s effectiveness. The ad does that in a superb and comic way. The advertisement is bound to make anyone laugh out at first sight. No doubt it is unrealistic but the approach is very effective. Of course the customer knows the spray could never take out Spiderman, and that Spiderman doesn’t really exist, but that’s a different story. The idea of an insecticide sends an important message the same way Popeye the sailor did with spinach. Eating a single can would

Ethical Code for Financial Management Assignment

Ethical Code for Financial Management - Assignment Example However, the codes do not define the organizational culture in regards to its role in improving the ethical environment and nature of employees. In comparison to my organization, the codes are similar. In my organization, staffs have a personal and professional role to perform tasks as required by the institution, state and the community. Moreover, employees are required to relate to partners, subordinates and peers in the workplace and community in a respectable and ethical way. Similar to Eli Lilly and Company, all employee are required to safeguard tangible and intangible assets under their mandate (Eli Lily and Company, 2014). Additionally, accurate information on the assets should be provided upon request. The ethical requirements are attached to an employment agreement provided prior to placement. In an argument Chun et.al (2013) the performance of an organization is determined by the ethical performance relationship in the workplace. Similarly, in financial management the requirement to ensure an exceptional ethical performance relationship reflects on the results obtained. The value of the financial performance of an organization is determined by their corporate social responsibility (Perrini et.al, 2011). Consequently, the efficiency of the ethical codes employed by an organization increases its financial performance value. In addition, ethical employee behavior in the department minimizes errors and malpractices thus increasing its efficiency and performance. Chun, J. S., Shin, Y., Choi, J., & Kim, M. S. (2013). How Does Corporate Ethics Contribute to Firm Financial Performance? The Mediating Role of Collective Organizational Commitment and Organizational Citizenship Behavior. Journal of Management, 39, (4): 853-877. Eli Lily and Company. (2014). Code of ethical conduct for financial management. Retrieved from

My walk with ecology Essay Example | Topics and Well Written Essays - 750 words

My walk with ecology - Essay Example My favorite form of outdoor activity is walking. I live in the urban city of concrete jungles with skyscrapers blocking out the sunlight. I miss the beauty of natural scenery. I have seen how man has destroyed his natural environment and upset the ecology of nature and man. Industrialization brought along deforestation to make way for human habitats and agriculture. The increased burning of fossil fuels increased the release of greenhouse gasses and the sum total effect has led to global warming. My thesis is that Man needs to reconnect with nature to help preserve ecology. The simplest and most direct way of reconnecting to nature is by walking through the rural countryside. It is one of the best ways of observing nature and appreciating the great diversity of life forms and the ecology. I believe that when Man comes to self-realization on his close relationship with nature, he will value it and refrain from participating in activities that would harm the balance of our ecology. I c hoose walking on foot to go sight seeing and explore nature because any other artificial mode of transport would burn fossil fuels and harm the environment with the emission of toxic waste gasses. When I walk at my own leisurely pace, I get to observe nature at work, play and rest. I think walking is the best way to get close to nature. Fenton recommended walking as a cheap and easy way to maintain health, effect weight loss and stay fit. We can kill two birds with one stone by taking up walking for health reasons as well as to observe nature. Fenton said that; 'Walking is not only better for your spirit, mood, and body, it's better for your whole community. Trust walking.' (Fenton 5). Walking does wonder for you while conserving the ecology. Walking is a cheap form of exercise. You just need a pair of comfortable walking shoes and thick socks to cushion your feet against blisters. The writer Werner recommended carrying a backpack for your basic essentials like a map, compass, a quart of water for every miles of walk, tissue and toilet paper, refuse / trash bag, raincoat / poncho, protective clothing against the cold and wet, energy snack foods and cell phone. (Werner 4). These are for a day walk. If you are walking at night, you need additional equipment like a flashlight with extra batteries, flares, insect repellant, and maybe a walking stick. If you are a photography and nature enthusiast, bring your camera and binoculars. If you are creatively inclined, bring along a notebook or sketch pad. The beauty of nature might inspire you to write or draw something. It is safer to prepare for emergencies in the event of being caught up in some unfavorable weather. A beginner should start walking during the day and on familiar terrain. One should take caution and plan a walk with a realistic distance as a goal in mind. I would keep in mind to let the people around me know my intentions just in case if I don't make it back in time, they would know to send out a search party for me! Walkers often choose routes to cut across natural terrain. I like the opportunity to breathe in fresh air, unpolluted by traffic. Sometimes, I see the traffic along the established paths and it is ugly traffic. Litter left behind by humans is detrimental. The wild animals do not know better than to ingest litter and this poses a health risk to them. Human food is not suitable for animals. Non-degradable refuse like plastic is an eyesore and dangerous when innocent animals ingest them. I would not have known about the effects of litter if I had not come across piles of them in my walks. They spoil the natural beauty of the landscape. This brings up the use of the trash bag in my backpack. Every walker should be responsible for keeping their own trash out of the natural environment. Waste items should be deposited in the trash bag and carried out of the natural

Bodies of United Nations Essay Example | Topics and Well Written Essays - 2000 words

Bodies of United Nations - Essay Example This paper illustrates that the United Nations organization has 192 Member states which have to follow the rules laid down by the UN in the general assembly along with 5 permanent states and 10 non-permanent states in the Security Council. It also has an Economic and Social Council which has 54 members and an international court of justice consisting of fifteen judges. It has a Trusteeship council and a secretariat which are discussed subsequently. The United Nations through its five bodies is helping to maintain international politics in such a way that the whole world remains in peace and harmony. It is basically acting as a judge of politics so that countries do not fight or the populations of the countries do not suffer either financially or physically because of any threat. In order to develop a norm for all the countries, international laws are laid down by the United Nations which have to be followed by all the member countries. These international laws are regulated by treati es between the UN and the countries. These treaties are broad as they consider many aspects of the society such as human rights, refugees, and border restrictions. The question now arises as to if the United Nations has remained successful in achieving its objectives or not. This question can be viewed from several perspectives as some would view the role of United Nations to be limited to only the betterment of itself, however, some would view the UN to be an organization which is working for the betterment in the society. Rwanda Genocide is cited to be one of the failures by the United Nations organization which shows that the UN has not been very successful in achieving its objectives. On the contrary, many other successful scenarios of UN can also be analyzed all over the world which shows that they have regulated international politics in such a way that many wars have been avoided. An example of Indo Pak can be cited here which was stopped with the help of UN intervention.

Business Law - brief case using FIRAC method. and more Essay

Business Law - brief case using FIRAC method. and more - Essay Example Therefore, a person is considered liable for negligence if he or she has departed or violates the conduct which is expected of a â€Å"reasonably prudent person† who is acting under the same circumstance (Buswell 41). In the case of Duncan vs. Union Pacific, the court sought to establish whether there was negligence on the part of the Union Pacific, and particular how its train was operated. The court found out that there was no evidence to show that the train was operated negligently, and that its warning bells, whistles, and headlight were well activated before approaching the crossing. Paul Kleinman, the operator of the train had seen the car approaching but he believed it would stop. However, the car did not stop and it was too late for him to stop the train and avoid hitting the car. Besides, the Utah Department of Transportation was satisfied that the railroad crossing had met all the required safety standards; the court was thus satisfied that the state of the crossing was good and it could not be attributed to the accident. Even though the court concurred that the railroad crossing is hazardous, its simple existence was not in itself a breach of duty of care (a key element in establishing negligence). John O. Hairstons died as a result of a collision on the South Fork River Bridge on 17 April 1978. Hairston negotiated the purchase of a 1978 Lincoln Continental automobile on Friday, 14 April 1978, at Haygood Lincoln Mercury, Inc. in Lowell, North Carolina. Apparently, as he waited, the service department employees at Haygoods replaced the standard wheels with turbine wheels from another automobile. After travelling for approximately 3.5 miles following conclusion of transaction at Haygood, the left rear wheel of the new Lincoln car came off. Thereafter, he was hit by a G.M.C truck operated by Robert Alexander and he died. Alexander Tank argued that Haygood’s negligence was the proximate cause of Hairston’s death. The rule of law

Globalization of Chocolate Lovers, Cakes and Pastries Essay Example for Free

Globalization of Chocolate Lovers, Cakes and Pastries Essay Globalization of both the economy and the society has confronted the world over the past decade. A shift of focus and interest from the local market to the international setting has demanded innovation not just in corporate leadership as new information; forms of communication and technology are being offered to be utilized in encouraging and reinforcing interaction among individuals. Fewer trade barriers and unprecedented technological advances have accelerated the pace of globalization. The advances in communication technology make it easier to enter the international market through the efficient marketing and advertising strategies that a number of international business organizations invest in by utilizing the services provided by the Worldwide Web. Electronic data communication (EDC) facilitates the exchange of data at tremendous speeds; it sorts and integrates data with other information available to the recipients (businesses, banks, capital markets) from other sources. Individual countries and trading and currency blocs alike view the fast-moving e-business sector as having a direct impact on the countries’ and blocs’ competitiveness in the global market. Increased market competition identifies continuous adjustment and improvement in the production lines of countries to recognize the participation of smaller business units. The free flow of goods and services, the establishment of functioning trade blocs like the European Union, more favorable regulations for foreign direct investment, and e-commerce are now major features of the global market. The introduction of the new division of international labor calls for evaluation and reorganization of the business operations as well as a reassessment of the current technological practices. The Chocolate Lovers, Cakes and Pastries Industry in FRANCE Royle and Towers (2002) note that the Chocolate Lovers, Cakes and Pastries industry has now extended throughout the world, expanding in FRANCE and other European countries, bakeshops are often considered as a characteristic of the new global culture. These bakeshops are illustrated as informal, have uniform service to anyone regardless of social status and focuses on giving quick-service to its customers. The industry grew out of a cultural philosophy that greatly values friendliness more than propriety, basically more than traditions of gracious living and democratic consensus over status-based divisions. Firms within the Chocolate Lovers, Cakes and Pastries industry fall into the category of a competitive market structure. According to Lipset (1991), the competitiveness of a market refers to the extent to which individual firms have the control or power to influence market prices or the terms on which their products are sold. It must be noted that â€Å"the less power an individual firm has to influence the market in which it sells its products, the more competitive the market is† (Lipset, 1991). In the recent years, the integration of strategic planning and functional marketing has been perhaps the most relevant development in the field of marketing management as marketing managers have all the more realized that tactical marketing decisions must be made within a wider strategic framework. Marketing Mix (4Ps) Product – Products that Cakes and Cookies are offering can be improved and expanded. For example they can add more cakes that suit the taste and needs of their consumers in FRANCE. Cakes and Cookies should not limit their products according to the old time customers in the U. S. Placement – Decisions involving the place/distribution are also crucial in meeting the needs of the target market. There are many factors to consider such as the choice of location where the product will be sold to the consumers, and the various channel distribution required to bring the product in the target market. Elements of distribution channel include the packaging, storage facilities, transportation, and the members of the channel itself. Cakes and Cookies should make their customized packages and boxes for their Chocolate Lovers, Cakes and Pastries and this should be appropriate according to the taste of the FRANCE consumers. It is always relevant to choose a channel pattern that is suitable for the target market needs. Price Among other factors considered in pricing are the needs of the market, the costs involved, the effect on margins and the value offered at a minimum for the consumer without the price cut hitting the company image. It is not surprising therefore, that Cakes and Cookies entry price strategy became a model in starting business in the area. Finally, it is interesting to note that in FRANCE have consistently agreed with Chocolate Lovers, Cakes and Pastries pricing strategy for many years. This shows that consumers give their loyalty as long as the price is right and fair. Promotions – Today, personal selling, sales promotions, in the forms of souvenirs, and point-of-purchase displays (POP), publicity through non-paid presentation of the product to the target market (feature articles and special news coverage), and public relations (established link with the stakeholders) were utilized by Cakes and Cookies Similarly, TV and radio advertising are important channels to promote Cakes and Cookies Usually, effective television and radio advertising involves a good opening punch line, presentation of the competitor’s product (brand must not be mentioned) and its weakness, testimony of experts or renowned personalities/authorities, and in some cases, use of famous movie actors and actress also helps. Further, the existence of Internet and the continued revolution in the world of Information Technology are certainly positive signs for the blossoming of many new advertising opportunities. For instance, pop-up ads and email ads have started to inva de the Internet. Most advertising firms have also started to exert efforts to make their advertisements appealing to the public (Chow and Holden, 1997). Segment, Target and Positioning of the Product Of all the components of a marketing plan, perhaps the most overlooked but most critical element is the definition of the target market. According to Lovelock and Young (2000), it is a homogenous group of people or organizations that a company wishes to appeal to. There are two basic targets for a product or service: the user and the non-user segments. Thus, there are also two business and marketing decisions that the company must decide upon in light of the basic targets. The first is to cultivate the present market alone while the second is to go after non-users. The former can inspire consumer loyalty which is an important factor in the survival of any business. In the case of Cakes and Cookies, they should categorize their target market into two market segments: (1) the Cakes and Cookies patrons or those who have already tried the product, and (2) the Cakes and Cookies non-consumers. The Cakes and Cookies consumers further classified into (a) males and (b) females in order to differentiate the market appeal and competitiveness of the offered products in terms of sex as well as the specific consumers for specific types of Chocolate Lovers, Cakes and Pastries. in order to determine the competitiveness of each product per se. the Cakes and Cookies non- consumers, on the other hand, are further grouped into (a) those who do not eat Chocolate Lovers, Cakes and Pastries in general, and (b) those who eat other Chocolate Lovers, Cakes and Pastries. These market segmentation schemes according to product use will provide important information regarding the overall competitiveness of Cakes and Cookies products as well as viability and opportunities for encouraging sweeteners non-users to not just try any other average sweeteners but to choose Cakes and Cookies products among others. Moreover, companies now face the challenge of making its target consumers respond accordingly to their marketing efforts and those who understand its consumers’ responses will have a great competitive advantage (Kotler Armstrong, 2001). In this light, Chocolate Lovers, Cakes and Pastries should keep in mind the differences that are distinct between and among other bakeshops target market based on different cultural backgrounds which significantly affect the effectiveness of the campaign. The fact is, there may be ideas that will not be applicable across the diverse target market population. Studies on the relationship of consumer behavior and their personal values and cultural orientation as well as their beliefs on certain principles, the dispositions they hold and side they take on political, gender and social problems and issues will be likewise duly accounted. Positioning The changing world has then placed much emphasis on the importance of communication for effective marketing. All types of communication are involved in marketing communications, including literature, training, advertising, mail, telephone, product promotions and other contact relevant to marketing communication. Among the channel members, even follow-up on complaints as well as customer billing may be included within the communication loop. In order to effectively serve the marketing channel, correct timing and accuracy in communications is essential. Moreover, it is important for the company to recognize that all members of the channel have an obligation or important role in maintaining the efficacy of marketing communications. Organizations that capitalize on customers active participation in organizational activities can gain competitive advantage through greater sales volume, enhanced operating efficiencies, positive word-of-mouth publicity, reduced marketing expenses, and enhanced customer loyalty (Lovelock Young, 1979). Channel communications works in a two-way system wherein information transfers to the user and bounces all the way back to the producer (Goldberg McCalley, 1992). In other words, marketing communications works like a feedback system, which allows company producers to relay information to the customers. In response to the provided information, consumers give certain reactions or behaviors. In this light, the electronic transformation of the services offered by Chocolate Lovers, Cakes and Pastries will result to better and more efficient and effective customer service system to the clientele. Moreover, the functionality of the online portal for the marketing and advertising needs of the agency will most possibly result to increase customer reach, satisfaction level and return of investment. Furthermore, if consumers somehow become better customers that is, more knowledgeable, participative, or productive the quality of the service experience will likely be enhanced for the customer and the organization (Bowers, Martin Luker, 1990). Finally, some of the ways that companies acquired cost advantages are by improving process efficiencies, gaining unique access to a large source of lower cost materials, making optimal outsourcing and vertical integration decisions, or avoiding some costs altogether. If competing firms are unable to lower their costs by a similar amount, the firm will be able to sustain a competitive advantage based on cost leadership.

Dental Caries In Children Health And Social Care Essay

Dental Caries In Children Health And Social Care Essay Our team has decided to investigate the epidemiology of dental caries in Scottish children, below the age of 16 inclusively from the 1970s to present. Scotland has the highest prevalence of tooth decay in Europe.1 This is evident from the numerous data sources ascertained. There are associated inequalities found in geographic and socio-economic subgroups which are at the forefront of dental caries prevalence in Scotland. The combination of bacteria with small food particles and saliva creates a sticky film on the tooth which is commonly known as plaque. 2 Over consumption of sugary food and drink, which is high in carbohydrate, provides the bacteria with the energy it needs, whilst producing acid simultaneously. 2 If this plaque is neglected, it will erode the tooth causing dental caries.2 In Scotland there is a sweetie culture,3 where sugary snacks are too readily available and so consumption levels are damaging childrens teeth. As a result the Scottish government are making efforts to assess the problem and subsequently trying to resolve it. Assessment of Caries And Prevelence Measurement The classification of dental caries is done by several sets of criteria, the primary one being the DMFT (decayed/missing/filled teeth) which divides the population into two groups and gathers the mean from each of decayed missing and filled teeth. Its measured from 0 to 32 in terms of affected teeth for people over the age of 12 and from 0 to 20 in children.4 The prevalence portrayed by this measurement has seen a marked decrease in caries in children from 2.16 in 2006 to 1.86 in 2008.5 Its been of paramount importance to the Scottish Government in assessing the levels of caries in children and giving them direction in terms of policy making and goal setting. This is evident from the Graph 15 portrayed in the appendix, which displays the decrease in caries, which in this instance displays decay that goes in to the dentine (d3mt) since the 1980s, with the mean age of children being 5.54 years old.3 This marked decrease has allowed the government to target specific areas of Scottish so ciety to enable an even further reduction in prevalence in caries and employment of even more defined classification models. Another method used for assessing dental caries in preschool children in Scotland is the DCRAM (Dundee Caries Risk Assessment Model). This statistical analysis tool provides an appropriate risk assessment model to determine incidence in a community setting. The DCRAM collects data from one year olds, and uses this data to predict caries incidence over a three year timeframe, to when they are at the age of four. Data is collected following a dental and microbiological examination and from information received via parental questionnaires.6 This type of model makes it easier to differentiate people into different sub-groups so as to investigate the differing incidence levels of oral ill-health within these sub-groups, for example urban and rural differences in dental caries of five year old children in Scotland.7 Here Scotland was split into six different geographies, namely the four big cities (Glasgow, Edinburgh, Dundee and Aberdeen) to the smaller rural areas. The findings of this st udy were that the children in rural areas had a better level of dental health than those living in urban areas (mean DMFT of 1.87 for all of Scotland, the four cities 2.16, other urban 1.81, accessible towns 1.88, remote towns 1.86, accessible rural 1.31, remote rural 1.34).5 Socioeconomic factors have been attributed to the cause of caries in Scotland, where deprivation is positively and significantly associated with having d3mft.8 In a three year follow up study undertaken it was obvious that a serious level of DMFT imbalances between the upper class (SEG1) of society and the lower class (SEG2) existed. As noted the percentage improvements found in SEG1 were up to three times larger than those in SEG2.9 This study undertaken in the 1980s led to the development of further classification tools to give greater transparency. The DepCat scale divided communities into socioeconomic groups from 1 (most affluent) to 7 (most deprived). In doing so it applied the DMFT to reveal high levels of inequality with findings in this study ranging from 62.4% (DepCat 1) to 19.8% (DepCat 7).10 Although this looks ominous there is evidence to portray a 13 point improvement between 2006 and 2008 in the most deprived areas (DepCat 7).5 Further evidence of a decreased DMFT can be seen on Graph 25 in the appendix. With this the employment of a newer scale The Scottish Index of Multiple Deprivation1 will ensure further study and reduction of caries in the deprived. Epidemiological principles, methods, tools and information are applied in every aspect of public health from policy setting at macro level to decision making at individual level,11 therefore making the collection and cohesion of information highly important. The result of this work by the Scottish government and health officials has given us tangible trends to decipher the level of dental caries in the country. Graphs 312 and 412 in the appendix clearly portray the level and improvement in dental caries in Scotland. It is given expectation and focus to the government in their implementation of preventive measures for the future. Evidence-based Population-based Prevention Strategies Pit and fissure configuration on tooth can harbour bacteria and lead to dental caries. Prevention of dental caries would be most efficient when the interaction between the host, causative agent and favouring environmental factors is inhibited. Fissure sealant is a primary prevention approach as it diminishes the risk of getting dental caries by enhancing resistance against the bacteria. A systematic health review published by NHS Health Scotland outlines fissure sealants as one of the early childhood caries prevention measures. Three studies were carried out on children under five years old to prove sealants are effective against occlusal dental caries depending on the retention rate, type of sealant and method of application.13 Rather than treating sequel of dental caries, preventive sealants are considered cost-effective compared to expensive restorative procedures. However, an article by Department of Paediatric Dentistry, University of Glasgow, Scotland addressed the efficiency of sealants depends on several factors. Caries are more susceptible in molar tooth, at highest risk during post-eruption period and whether resin-based or glass ionomer fissure sealants were to be chosen is influenced by moisture control.14 If sealants are used for all cases and risk assessment is neglected, this will reduce the cost-effectiveness. On the contrary, fissure sealants are effective against dental caries only if retained. Sealants require vigilant management that they must be replaced over time. Glasgow Dental Hospital and School reported out of 7000 sealants applied by private practitioners in Scotland, 23% of failed sealants end up carious after 4 years. This study concludes that maintenance of originally sealed fissures is vital for success sealants in long run.15 The study concluded that dental caries are bacterial, regardless of age and the process of wearing sealants would be of the same in any age group. The use of fluorides, on the other hand, in either topical (mouth rinsing solutions, tablets, toothpastes) or systemic (fluoridated water, milk or salt) forms, has shown to have a positive effect on the prevention and reduction of dental caries experience among children and adolescents, globally.16 Although fluoridation of water is considered one of the ten main achievements of public health interventions,17 its real advantages to public health remain controversial.18 Scotland rejected artificial water fluoridation amidst public complaints of its harmful side effects, namely fluorosis or mottled teeth.19 Over the past 50 years in the UK, fluoridated toothpastes have played a crucial role in the declining trends of dental caries in children (in terms of reduced DMFT scores and overall oral health.) 20,21 There is also consensus about 1000ppm Fluoride concentration per toothpaste as optimal for ensuring protection from dental caries, and has proved to be 25% more beneficial in preventing tooth decay.22 Systematic review carried out by the University of Dundee reinforces the superior preventive effect of fluoride toothpastes compared to placebos (addition PF, 24.9%.)23 Researchers and public health authorities have unanimously placed fluoride toothpaste as the method of choice for preventing caries, as it is convenient and culturally approved, widespread, and it is commonly linked to the decline in caries prevalence in many countries.20 One of the chief concerns associated with consumption of fluorides is the incidence of fluorosis. Systematic reviews of studies carried out across the UK indicate a positive correlation between the concentrations of fluoride and dental fluorosis.24 Moreover, there are two major concerns associated solely with topical fluoride use- a) noncompliance with tooth brushing regimens and b) chronic overconsumption of toothpaste among children leading to increased risk of fluorosis.20 While some studies claim that fluoridated water is associated with higher incidence of diseases like bone fractures, senile dementia or cancer; no conclusive evidence has been reported.24 Other concerns of fluoridation like its effects on immunity, reproductive health and GI effects have also not shown to be clinically significant.25 A third prevention strategy called Childsmile was fully running since 2011. It is a children orientated, oral health promotion programme driven by the NHS. The aim is to improve the overall oral health of all children across Scotland and reduce inequalities in dental public health and access to related services.26 Childsmile has three components, the Core, which is applied to all Scottish children, provides fluoridated toothpaste and toothbrushes till five years of age and advocates supervised tooth brushing. 26 The Practice component allows new parents to register easily with local dental practices and is educated on oral health, such as tooth brushing methods and diet. Risk assessments are used to identify children at high risk, who are then provided with varnish and fissure sealants. 26 The third component, Nursery and School, provides twice per annum fluoride varnish applications to those living in the most deprived local quintile of Scotland under the Scottish Index of Multiple Deprivation (SMID). 26 In 1996, the Greater Glasgow Health Board introduced a community-based oral health promotion for five year olds in the most socially deprived areas in Glasgow, comparable to Childsmile, which involved establishing Oral Health Action Teams (OHATs). 27 OHATs main goals are very similar to Childsmiles, including supervised tooth brushing, providing information to parents and supporting local dentists to further promote oral health. A follow-up study was done and the D3MFT values has shown to decrease from 5.5 to 3.6 and from 6.0 to 3.6 respective to DepCat 1 and 2 communities and the mean D3MFT values of 5 year olds was reduced in all DepCat 7 communities from 4.9 to 4.1. This change was of sufficient magnitude to impact upon area-wide statistics for Glasgow. 28 This suggests that oral health education interventions do give a positive impact on the population if it is implemented rigorously. Even though dental treatments are now relatively more advanced and effective, it is difficult for the whole population to benefit from these treatments, due to cost and access, as a prevention strategy for further tooth decay. Hence, it would be wiser to put into place public health strategies to get the knowledge to the general public and to promote the idea from young that prevention is better than treatment for oral health. But even with these health promotion programmes, there is evidence that shows how it is not a sustainable way to stop poor oral health because they do not tackle the main underlying cause. This leads to an ethical dilemma; creating a bigger inequality gap of access to oral healthcare, with those being in higher SES groups actually benefitting more than those who are in much more need of these service in the most deprived population. Discussion / Conclusion xxxxx Search Strategy For our project we began with a general search of dental caries on PubMed. There were numerous articles published from around the world so we narrowed it down to UK and Ireland and South America, as there were plenty of relevant articles for these regions. It was later decided that the following electronic databases: MEDLINE, PubMed and Cochrane library provided a number of articles for Scotland and Brazil. Using certain parameters like age (0-16 years old) it was decided that our project would be focussed on the dental caries of children in Scotland and articles produced between 1973 and present day. Keywords used to refine the search included children, fluoridation, fissure sealants and government studies amongst others. We used the advanced search option on PubMed with a combination of keywords such as Government Interventions AND Dental caries Scotland to review steps taken by the Scottish Government in recognising dental caries in children and also treating the problem. For the epidemiology section of the project we found articles using keywords epidemiology, dental caries, Scottish children. We found 107 relevant articles that were eventually narrowed to give us the most pertinent approaches taken in Scotland to diagnose dental caries, such as DCRAM (Dundee Caries Risk Assessment Model) and the NDIP (National Dental Inspection Plan). Searches based on individual interventional approaches were then carried out, yielding 17 results for DCRAM on PubMed and 16000 results for NDIP on Google Scholar. The studies were reviewed and chosen only if they met the criteria we wished to discuss throughout project, such as, age (0-16 years old), social background and residence i.e. Rural v Urban setting. We also did not include articles and studies published before 1973.We also used articles produced by the NHS and took these as official and accurate. For review of prevention strategies, we decided to use fissure sealants, fluoridation and the public health strategy of Childsmile as our main areas of discussion in terms of intervention. After comprehensive research using our chosen electronic databases- MEDLINE, PubMed, Cochrane Library and Google Scholar, we narrowed the expansive intervention of Fluoridation to the use of Fluoridated Toothpastes as we realized that artificial fluoridation was rejected by the Scottish government and that toothpastes were hence the most ubiquitous form of fluroide intake in Scottish children. A search on pubmed with keywords Fluoridated Toothpastes initially yielded 125 results, which were then narrowed using additional limits of Full Free Text and English Language. Similar limits were applied to searches of Fissure Sealants and ChildSmile, yielding 33 and 4 results, respectively. For reviews evaluating the efficacy of these interventions, we depended mostly upon PubMed and Cochrane Library. A seach with the advanced limits of English Language, Free Full Text Available and type of article-Systematic Review yielded only 1 result on Pubmed for Fissure Sealants, 3 for ChildSmile and 15 for fluoridated tootpastes. We feel our results provide an accurate review of dental caries in children in Scotland between the ages of (0-16). References Scotland.gov.uk Scottish Health Boards Dental Epidemiological Programme National Dental Inspection Programme 2011 [updated Wednesday 21 September 2011: cited October 17, 2012]. Available from http://www.scotland.gov.uk/Topics/Statistics/Browse/Health/TrendDentalHealth What did dr beisma say about long url? National Health service. Causes of Tooth Decay. Available from http://www.nhs.uk/Conditions/Dental-decay/Pages/Causes.aspx (Reviewed 07/07/2012)(Accessed 01/11/2012) http://www.nurseryworld.co.uk/news/994927/Sweetie-culture-culprit-tooth-decay/ Department of Health Hong Kong. Measuring tooth decay and gum disease. Available from http://www.dh.gov.hk/english/pub_rec/pub_rec_lpoi/files/ohse2.pdf (accessed 20/10/2012). Merret MC, Goold S, Mcall DR, CM Jones, LMD Macphearson, ZJ Nugent GVA Topping. National Dental inspection of Scotland. Report of the 2008 survey of P1 children in Scotland. Edinburgh: Scottish Dental Epidemiological Co-ordination Committee ; 2008. McRitchie HM, Development of the Dundee Caries Risk Assessment Model (DCRAM)Risk model development using a novel application of CHAID analysis. Community Dent Oral Epidemiology 2012; 40(1):37-45 Levin KA, Davies CA, Douglas GV, Pitts Nb. Urban-rural differences in dental caries of 5-year old children in Scotland. Social Science Medicine 2012; 71(11):2020-2027. http://www.ncbi.nlm.nih.gov/pubmed/19307245 http://www.ncbi.nlm.nih.gov/pubmed/2379088 http://www.ncbi.nlm.nih.gov/pubmed/10226726 Bailey L, Vardulaki K Langham J Introduction to epidemiology.P10 4th ed. England: McGraw HIill; 2009. Macpherson LMD, Ball GE, Conway DI, Edwards M, Goold S, McMahon A, OKeefe E, Pitts NB Watson S. Report of the 2011 Detailed National Dental Inspection Programme of Primary 7 Children and the Basic Inspection of Primary 1 and Primary 7 Children. Scotland: Scottish Dental Epidemiology Coordinating Committee; 2011 Poobalan A, Prevention of early childhood caries: A systematic review. 2008; 122. Welbury R, EAPD guidelines for the use of pit and fissure sealants. Eur J Paediatr Dent 2004; 5(3):179-84. Chestnutt IG, Schafer F, Jacobson AP, Stephen KW: The prevalence and effectiveness of fissure sealants in Scottish adolescents. Br Dent J. 177:125-29, 1994. Peterson PF, Lennon MA: Effective Use of Fluorides for the Prevention of Dental Caries in the 21st Century: The WHO Approach. Community Dent Oral Epidemiol 2004; 32: 319-21. OÃÅ'  Blackwell Munksgaard, 2004. Centers for Disease Control and Prevention 1999a; Centers for Disease Control and Prevention 1999 Richards,D :Water Fluoridation: Controversy or Not? Editorial, Evidence-Based Dentistry (2002) 3, 31; doi:10.1038/sj.ebd.6400120. Available from www.nature.com Craig, J: Presidential Address. Br Dent J. 2005 May 28;198(10):597-9 (pubmed) Marinho VCC, Higgins JPT, Logan S, Sheiham A: Fluoride toothpastes for preventing dental caries in children and adolescents (Review) The Cochrane Collaboration, The Cochrane Library, 2009. Curnow MM, Pine CM,: A randomised controlled trial of the efficacy of supervised toothbrushing in high-caries-risk children Caries Res. 2002 Jul-Aug;36(4):294-300. Scottish Children Brush Away Tooth Decay. British Dental Journal 199, 698 (2006) Published online: 10 December 2005 | doi:10.1038/sj.bdj.4813051. Available from www.nature.com date accessed? Topping G, Assaf A.: Strong evidence that daily use of fluoride toothpaste prevents caries. Evid Based Dent. 2005;6(2):32. Dental Health Services Research Unit, University of Dundee, Dundee, Scotland, UK. McDonagh S: Systematic Review of water fluoridation BMJ. 2000 Oct 7;321(7265):855-9 (PUBMED/www.bmj.com) MRC working group report. National Health Services Scotland. About Childsmile NHS Health Scotland. [homepage on the Internet]. 2010 [cited 2012 Oct 24]. Available from: National Health Service Scotland, Childsmile Web site: http://www.child-smile.org.uk/professionals/about-childsmile.aspx Blair YI Evaluation of NHS Greater Glasgow oral health action teams: A report from the monitoring and evaluation subgroup of the OHAT steering group, November 2005. Glasgow: NHSGGC; 2005. Blair Y, Macpherson L, Mccall D, Mcmahon a. Dental health of 5-year-olds following community-based oral health promotion in Glasgow, UK. Int. J of Paediatric Dentistry 2006; 16:388-398.

Objectives of Standard Costing

Objectives of Standard Costing What is the definition of standard costing? Standard costing is the system of using standard costs. Standard costing involves using the predetermined costs/standard costs to compare with the actual to find the difference or variance. Variance can be adverse (actual result is worse than standard) or favorable (actual result is better than standard). An adverse variance tells management that if everything else stays constant the companys actual profit will be less than planned. Whereas, a favorable variance tells management that if everything else stays constant the actual profit will likely exceed the planned profit. What are the major objectives of standards costing? What are types of cost standards? The standard is the level of attainment accepted by management as the basis upon which standard costs are determined. There are four different standards to consider which are current standard, ideal standard, basic standard and normal standard. A current standard is a standard which is established for use over a short period of time and is related to current condition. It reflects the performance that should be attained during the current period. The period for current standard is normally one year. It is presumed that conditions of production will remain unchanged. In case there is any change in price or manufacturing condition, the standards are also revised. Current standard may be ideal standard and expected standard. However, ideal standard is the standard which represents a high level of efficiency. Ideal standard is fixed on the assumption that favorable conditions will prevail and management will be at its best. The price paid for materials will be lowest and wastes etc. will be minimum possible. The labor time for making the production will be minimum and rates of wages will also be low. The overheads expenses are also set with maximum efficiency in mind. All the conditions, both internal and external, should be favorable and only then ideal standard will be achieved. Ideal standard is fixed on the assumption of those conditions which may rarely exist. This standard is not practicable and may not be achieved. Though this standard may not be achieved, even then an effort is made. The deviation between targets and actual performance is ignorable. In practice, ideal standard has an adverse effect on the employees. They do not try to reach the standard because the standards are not considered realistic. Third standard which is basic standard may be defined as a standard which is established for use for an indefinite period which may a long period. Basic standard is established for a long period and is not adjusted to the preset conations. The same standard remains in force for a long period. These standards are revised only on the changes in specification of material and technology productions. It is indeed just like a number against which subsequent process changes can be measured. Basic standard enables the measurement of changes in costs. For example, if the basic cost for material is Rs. 20 per unit and the current price is Rs. 25 per unit, it will show an increase of 25% in the cost of materials. The changes in manufacturing costs can be measured by taking basic standard, as a base standard cannot serve as a tool for cost control purpose because the standard is not revised for a long time. The deviation between standard cost and actual cost cannot be used as a yardstick for measuring efficiency. The last one is normal standard. As per terminology, normal standard has been defined as a standard which, it is anticipated, can be attained over a future period of time, preferably long enough to cover one trade cycle. This standard is based on the conditions which will cover a future period of five years, concerning one trade cycle. If a normal cycle of ups and downs in sales and production is 10 years, then standard will be set on average sales and production which will cover all the years. The standard attempts to cover variance in the production from one time to another time. An average is taken from the periods of recession and depression. The normal standard concept is theoretical and cannot be used for cost control purpose. Normal standard can be properly applied for absorption of overhead cost over a long period of time. What are the advantages and disadvantages of standard costing system? Standard costing have several advantages. First advantage of standard costing is as a key element in a management by exception approach. If costs remain within the standards, managers can focus on other issues. When costs fall significantly outside the standards, managers are alerted that there may be problems requiring attention. This approach helps managers focus on important issues. Second advantage is standard costing is standards that are viewed as reasonable by employees can promote economy and efficiency. They provide benchmarks that individuals can use to judge their own performance. Besides that, standard costs can greatly simplify bookkeeping. Instead of recording actual costs for each job, the standard costs for materials, labor, and overhead can be charged to jobs. Last but not least, standard costs fit naturally in an integrated system of responsibility accounting. The standards establish what costs should be, who should be responsible for them, and what actual costs are under control. However, the use of standard costs can present a number of potential problems or disadvantages. Most of these problems result from improper use of standard costs and the management by exception principle or from using standard costs in situations in which they are not appropriate. Standard cost variance reports are usually prepared on a monthly basis and often are released days or even weeks after the end of the month. As a consequence, the information in the reports may be so stale that it is almost useless. Timely, frequent reports that are approximately correct are better than infrequent reports that are very precise but out of date by the time they are released. Some companies are now reporting variances and other key operating data daily or even more frequently. Besides that, if managers are insensitive and use variance reports as a club, morale may suffer. Employees should receive positive reinforcement for work well done. Management by exception, by its nature , tends to focus on the negative. If variances are used as a club, subordinates may be tempted to cover up unfavorable variances or take actions that are not in the best interest of the company to make sure the variances are favorable. For example, workers may put on a crash effort to increase output at the end of the month to avoid an unfavorable labor efficiency variance. In the rush to produce output quality may suffer. In some cases, a favorable variance can be as bad as or worse than an unfavorable variance. For example, McDonalds has a standard for the amount of hamburger meat that should be in a Big Mac. A favorable variance would mean that less meat was used than standard specifies. The result is a substandard Big Mac and possibly an unsatisfied customer. Another problem of using standard costing, there may be a tendency with standard cost reporting systems to emphasize meeting the standards to the exclusion of other important objectives such as maintaining and improving qua lity, on-time delivery, and customer satisfaction. This tendency can be reduced by using supplemental performance measures that focus on these other objectives. Just meeting standards may not be sufficient; continual improvement may be necessary to survive in the current competitive environment. For this reason, some companies focus on the trends in the standard cost variances aiming for continual improvement rather than just meeting the standards. In other companies, engineered standards are being replaced either by a rolling average of actual costs, which is expected to decline, or by very challenging target costs. In sum, managers should exercise considerable care in their use of a standard cost system. It is particularly important that managers go out of their way to focus on the positive, rather than just on the negative, and to be aware of possible unintended consequences. Nevertheless standard costs are still found in the vast majority of manufacturing companies and in many service companies, although their use is changing. For evaluating performance, standard cost variances may be supplanted in the future by a particularly interesting development known as the balanced scorecard. How standard costs are sets? Standards should be set for the quantities and prices of materials, labour and services to be consumed in performing each operation associated with a product. Product standard costs are derived by listing and adding the standard costs of operations required to produce a particular product. Two approaches are used or setting standard costs. First, past historical records can be used to estimate labour and material usage. Secondly, standards can be set based on engineering studies. With engineering studies a detailed study of each operation is unedertaken under controlled conditions, based on high levels of efficiency, to ascertain the quantities of labour and materials required. Target prices are then applied based on efficient purchasing to ascertain the standard costs. How a standard costing system operates? Standard costing is most suited to an organization whose activities consist of a series of repetitive operations and the input required to produce each unit of output can be specified. A standard costing system involves the following: The standard costs for the actul output are recorded for each operation for each responsibilty centre. Actual costs for each operation are traced to each responsibility centre. The standard and actual costs are compared. Variances are investigated and corrective action is taken where appropriate Standards are monitored and adjusted to reflect changes in standard usage and/or prices. Variances What is the main purpose of variance analysis? There are very few plans that turn out exactly as planned. Even when the overall objectives of the plan are achieved, some, if not all components of the performance will have varied from the sub-plans or standards that make up the overall picture. For example, a football team may win an important game, as planned, but within the team performance there may be many aspects that the manager will analyse during and after the match so that performance can be improved for next time. As in business, good points need to be encouraged, less positive aspects need to be discussed and corrected. In a game of football, a side may have won a high number of corner kicks, but conceded too many free-kicks in defending. There is little to be gained for the next match if we do not think about the last performance in detail. Variance analysis provides a framework for business managers to breakdown the overall performance of an organisation, so that each individual element of the business can be isolated and analysed in turn. What are the causes of labour, material, overhead, and sales margin variances? Quantities cost variances arise because the actual quantity of resources consumed exceed actual usage or vice versa. Examples include excess usage of materials and labour arising from the usage of interior materials, careless handling of materials and failure to maintain machinery in proper condition. Price variances arise when the actual prices paid for resources exceed the standard prices or else. Examples include the failure of the purchasing function to seek the most efficient sources of supply or the use of a different grade of labour to that incorporation in the standard costs. How to calculate material, labour, variable overhead, fixed overhead, and sales variances.

Cmip Vs. Snmp : Network Management :: essays research papers fc

CMIP vs. SNMP : Network Management Imagine yourself as a network administrator, responsible for a 2000 user network. This network reaches from California to New York, and some branches over seas. In this situation, anything can, and usually does go wrong, but it would be your job as a system administrator to resolve the problem with it arises as quickly as possible. The last thing you would want is for your boss to call you up, asking why you haven't done anything to fix the 2 major systems that have been down for several hours. How do you explain to him that you didn't even know about it? Would you even want to tell him that? So now, picture yourself in the same situation, only this time, you were using a network monitoring program. Sitting in front of a large screen displaying a map of the world, leaning back gently in your chair. A gentle warning tone sounds, and looking at your display, you see that California is now glowing a soft red in color, in place of the green glow just moments before. You select the state of California, and it zooms in for a closer look. You see a network diagram overview of all the computers your company has within California. Two systems are flashing, with an X on top of them indicating that they are experiencing problems. Tagging the two systems, you press enter, and with a flash, the screen displays all the statitics of the two systems, including anything they might have in common causing the problem. Seeing that both systems are linked to the same card of a network switch, you pick up the phone and give that branch office a call, notifying them not only that they have a problem, but how to fix it as well. Early in the days of computers, a central computer (called a mainframe) was connected to a bunch of dumb terminals using a standard copper wire. Not much thought was put into how this was done because there was only one way to do it: they were either connected, or they weren't. Figure 1 shows a diagram of these early systems. If something went wrong with this type of system, it was fairly easy to troubleshoot, the blame almost always fell on the mainframe system. Shortly after the introduction of Personal Computers (PC), came Local Area Networks (LANS), forever changing the way in which we look at networked systems. LANS originally consisted of just PC's connected into groups of computers, but soon after, there came a need to connect those individual LANS together forming

Journey to the Harlem Renaissance Essay -- Harlem Renaissance African

Journey to the Harlem Renaissance As America moves into a more cultural and diversified era, more people are taking the time to learn about the Harlem Renaissance. The Harlem Renaissance was the foremost form of freedom for African Americans. It showed blacks that they were becoming equals in American society. The talents of African Americans soared in art, music, literature and especially poetry. The main writers embodying the Harlem Renaissance were Claude McKay, Langston Hughes and Countee Cullen. Claude was born in Jamaica, in 1898. He got his education from his older brother, who â€Å"possessed a library of English novels, poetry and scientific texts.† (Callahan, 784) Claude was a little older when he created his first piece of literary work. He published a book called Songs of Jamaica. It was a â€Å"record of his impressions of black life in Jamaica.† (Callahan,783) In 1912, he finally got to America, where he wrote Harlem Shadows; â€Å"his most important book of poetry.† (Callahan 784) While there, he attended the Tuskegee Institute. In 1914 he moved to Harlem, â€Å"the center of black culture in the U.S.† (Anderson, 704) He later published two sonnets, â€Å"The Harlem Dancer† and â€Å"Invocation†, in 1917. He â€Å"would later use the same poetic form to record his reactionary views on the injustices of black life in America.† (Callahan, 785) In addition to social and political concerns, McKay wrote on a vari ety of subjects, â€Å"from his Jamaican homeland to romantic love, with a use of passionate language.† (Callahan, 785) During the twenties he developed an interest in Communism, so he visited Russia to meet the architects of Russian Communism, Lenin and Trotsky. He also lived in France. When he came back to the U.S., he moved back ... ...hree for the new millennium? Bibliography: Works Cited Anderson, Robert, et al. â€Å"Langston Hughes: 1902-1967.† Elements of Literature: Fifth Course. Austin: Holt, 1989. 706 Callahan, John F. â€Å"A Long Way From Home†: The Art and Protest of Claude McKay and James Baldwin.† Contemporary Literature 34.4 (1993): 783-785. Countee Cullen. 7 Feb. 2002 http://members.aol.com/hynews/cullen.htm. Hampson, Thomas. I Hear America Singing. 7 Feb. 2002 http://www.pbs.org/wnet/ihas/poets/hughes.html. Jackson, Steven. Father of Jazz. 14 Feb. 2002 http://www.redhotjazz.com/hughes.html. Johnson, James Weldon, ed. The Book of American Negro Poetry. New York: Harcourt, Brace and Company, 1992; BoondocksNet edition, 2001. Reuben, Paul P. â€Å"Chapter 9: Harlem Renaissance-Langston Hughes† http://www.csustan.edu/english/reuben/pal/chap9/hughes.html

Colonial Girls School

The poem opens with the phrase, â€Å"Borrowed images/willed our skin pale†, which is an allusiin to many teenaged school girls bleaching their skins with different creams and soaps to become a lighter complexion. The poem as a whole focuse on the rejection of one's color to a more favoured one, emphasised to them by the outer one. Borrowed images from the first world countries, where white is emphasised as better or more beautiful. It also focused on the image of girls' ‘dekinked' hair, yet another image of them rejecting their blackness for a more favourable image, that of white through chemicals to straighten their hair.The poem is one from a formerly colonized country which focuses on the fact that for years, their teachers have only taught them American, British and other aspects of European countries and â€Å"nothing about us at all. † They were taught Latin and SHakespeare, but nothing of their own language and were punished if they used it, but were to ta lk like little madrigals in a choir with the hills and valleys in their tonage, rejecting their baser language.They were taugh of the landscapes of other countries, of kings and queens of England, wheatfields of Canada and Steppes of Russia, but nothing of their own heritage or landscape. Mention of Marcus Garvey and 1838 and the fight for desegregation and the equal rights was mentioned as a beacon in black history, Little Rock, Congo, Lumumba, etc, all aspects of foreigh history, but nothing of their own fight for black empowerment. The writer alludes to a day being able to tell their own Anansi stories with pride, where â€Å"northern eyes in the brighter world before us† would seem pale. Muffled our laughter†, â€Å"willed our skins pale†, â€Å"lowered our voices†, â€Å"dekinked our hair†, â€Å"denied our sex in gym tunics†, â€Å"harnessed our voices to †¦ † and â€Å"yoked our minds† are all negative images.* To sh ow that Jamaicans continue to hold on to a system which deny their culture and race while elsewhere racial barriers are being destroyed. Marcus Garvey, who was famous for his pride in his race, would have been shocked to learn that his country has not yet thrown off the colonial chain. â€Å"†¦ kissed us awake† tells us that someone has given them new information which so alerted them that they threw off the negative images. This was done calmly, gently and lovingly. Examine the word ‘kiss' and you will see that whoever brought the change must have cared, must have confronted them after establishing a close relationship. * The last four lines reveal that with their new found knowledge, the girls no longer find pale skins attractive, no longer yearn to be pale themselves.

My Autobiography Essay

MY AUTOBIOGRAPHY I am Gene Geralde Gonzales, I was born on May 2, 1971 at Baguio City, Philippines. We are seven siblings in the family. I am the seventh child. My mother’s name is Fe Geralde Gonzales, she is from Cebu City and my father’s name is Mario Dy Gonzales, he is from Legaspi, Albay. I took my elementary education as well as my secondary education at Saint Louis School of Campo Filipino located at Naguilian Road Baguio City. I have a happy childhood living with my parents and with my siblings. During weekends, we usually spend our day in the park. And we help each other in our daily activities. My family is a happy and a loving family. During my high school days, I usually spend my free time in the library together with my friends. Our school is exclusively for girls and because of that I find it hard to communicate with the opposite sex. We usually spend our summer vacation in the hometown of my mother, which is located at Minglanilla Cebu City. My hobbies are reading books, biking, watching movies and also cross stitching. I also spend my free time hanging out with my friends. My dream was to become a nurse. I was able to pass the entrance examination given at Saint Louis University and I had my first year as a nursing student. I wasn’t able to pass one of the major subjects. I have to transfer to another school. I had to take a summer class for my back subject at Pines City Educational Center and from that time I continued my studies and graduated in the year 1992 with a Bachelor of Science in Nursing. After graduation, I have my self review and took the exam for Civil Service Professional Level, wherein I was able to pass the exam. By the year 1993, together with my college friends we went to Manila to have our review and took our board exam for nursing. While waiting for the result of the board exam, I worked as a volunteer nurse at Antamok Mines. My interpersonal skills and nursing skills were developed during my stay at Antamok Mines Hospital. After I passed the Board Exam for Nurses, by the year 1994, I worked as a private duty nurse employed by Miss Cheen Tan, wherein I took care of her father, who is 82 years of age and with Parkinson’s disease. I assisted him with his daily activities, give him bath and feed him, and also I make sure to take all his medications in time. My salary as a private duty nurse is not enough to support my family financially so I decided to apply as a caretaker in Taiwan. By March 1996, I went to work in Taiwan. It was my first time to  live away from my family. I had a hard time in adjusting to a new environment, with different culture and dialect as well. After six months, I can communicate with the family members of my employer in Mandarin, their native language and also I can do well with my daily activities especially cooking their Chinese dishes. I worked as a domestic helper and a s a caretaker. My employer has seven family members. I took care of my employer’s mother who is a stroke patient, 87 years of age and a hemiplegic. I assist her to sit in the wheel chair and also give her daily bath. I worked there for three years. My employer wanted me to extend my contract, but unfortunately that time only three years is the maximum unless I changed my passport and use another name. I enjoyed working in Taiwan because my employer treated me not as a domestic helper but as one of their family members. I went back home to Philippines. By January 2001, I applied in Dubai as a private duty nurse, employed by Sheikh Marwan Maktoum Bin Al Maktoum. I worked in a royal family where in I took care of their first child. We are three people looking after her, two registered nurses and one registered midwife. I worked there until December 2004. By February 2005, I was hired to work as trainer at Philippine Caretaker Training Center. It is a training center for females who want to work in Hong Kong, Malaysia and Singapore as a domestic helper. I worked there until June 2006. By July 2006, I took a month course of reflexology at AKSEM Homes Foundation and by August 2006 I worked there as a reflexology therapist until December 2006. On January 1, 2007 I was employed as a trainer at Cebu Asia Training Specialist Inc. located at Dian, Makati City. It was a training center for females who wants to work as a domestic helper for Hong Kong. By September 16, 2007 until October 25, 2011, I worked as a staff nurse in Dar Elhekma Clinic located in Salihia Street, Riyadh Saudi Arabia. After working in Saudi Arabia for 4 years I decided to go home since both of my parents passed away in the same year. I spend my whole life working for my family especially for my parents, because they are sick and they need to take medication for their maintenance. After I came home from Saudi Arabia, with my savings my family house was renovated. I have to work to support myself and my two sisters; by August 13, 2012, I was re-hired as a trainer in Philippine Caretaker Training and Assessment Center Inc. I worked there until June 29, 2013. I resigned because of the poor management; the manager  tends to bring down the staff instead of encouraging them to grow professionally. My plan is to save for my future since I have no family and I am single.

Fi515 Chapter 1 Mini Case

MINI CASE a. Why is corporate finance important to all managers? Corporate finance is important to all managers because it provides managers the skills needed to identify and select the corporate strategies and individual projects that add value to their firm and forecast the funding requirements of their company and devise strategies for acquiring those funds. b. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each form. The organizational forms a company might have as it evolves from a start-up to a major corporation are proprietorship, partnership, or corporation. The advantages of a proprietorship are: †¢Easy and inexpensive to form, †¢Subject to few government regulations, and †¢Income not subject to corporate taxation. The disadvantages of a proprietorship are: †¢May be difficult to obtain the capital needed for growth, †¢Unlimited personal liability for the businesses’ debts, and †¢Limited to the life of its founder. The advantages of a partnership are: †¢Relatively easy to establish, †¢Increased ability to raise funds, Prospective employees become attracted to the business if given the incentive to become a partner, †¢May benefit from the combination of complementary skills of two or more people, †¢Can be cost effective, and †¢Provide moral support and will allow for more creative brainstorming. The disadvantages of a partnership ar e: †¢Partners are jointly and individually liable for the actions of the other partners, †¢Profits must be shared, †¢Disagreements can occur, †¢May have limited life, †¢Has limitations that keeps it from becoming a large business, †¢Partners have to consult with each other before making decisions, and †¢Unlimited liability. The advantages of a corporation are: †¢Unlimited life, †¢Easy transferability of ownership interest, and †¢Limited liability. The disadvantages of a corporation are: †¢Earnings may be subject to double taxation, and †¢Complex and time-consuming set up. c. How do corporations go public and continue to grow? What are agency problems? What is corporate governance? Corporations go public and continue to grow by selling stock to outsiders or venture capitalists, attracting lending from banks or raising additional funds through an initial public offering (IPO) by selling stock to the public at large. Agency problems are conflicts of interest arising between creditors, shareholders and managers because of differing goals. Corporate governance is the relationship between all the stakeholders in the company. d. What should be the primary objective of managers? The primary objective of managers is stockholder wealth maximization, which means to maximize the fundamental price of the firm’s common stock and not just the current market price. 1)Do firms have any responsibilities to society at large? Yes, firms have responsibilities to society at large. Corporate social responsibility is operating a business in a manner that accounts for the social and environmental impact created by the business. This means a commitment to developing policies that integrate responsible practices into daily business operations and to reporting on progress made toward implementing these practices. 2)Is stock price maximization good or bad for society? Stock price maximization is good for society. Shareholders are members of society. Consumers benefit when companies develop products and services that consumers want and need, which leads to new technology and new products. Employees benefit generally when companies successfully increase stock prices, it opens up growth and addition for more employees. 3)Should firms behave ethically? Yes, firms should behave ethically. There is no room for unethical behavior in the business world. Most executives believe that there is a positive correlation between ethics and long-run profitability. Conflicts often arise between profits and ethics. Companies must deal with these conflicts on a regular basis. Failure to handle these situations properly can lead to huge product liability suits and even bankruptcy. e. What three aspects of cash flows affect the value of any investment? The three aspects of cash flows the affect the value of any investment are the amount of expected cash flows, the timing of the cash flow stream, and the risk of the cash flows. f. What are free cash flows? Free cash flows are the monies available for distribution to all investors after paying current expenses, taxes, and making the investments necessary for growth. g. What is the weighted average cost of capital? The weighted average cost of capital is the rate that a company is expected to pay on average to all its security holders to finance its assets. . How do free cash flows and the weighted average cost of capital interact to determine a firm’s value? Free Cash Flow = Sales Revenues – Operating Costs and Taxes – Required Investments in Operating Capital. Weighted Average Cost of Capital (WACC) is affected by market interest rates, market risk aversion, cost of debt, cost of equity, firmâ €™s debt/equity mix, and firm’s business risk. Therefore, free cash flows and the weighted average cost of capital interact to determine a firm’s value by the following equation: Value=FCF1+FCF2+ †¦ +FCF00 (1 + WACC)1(1 + WACC)2(1 + WACC)00 i. Who are the providers (savers) and users (borrowers) of capital? How is capital transferred between savers and borrowers? Households and some foreign governments are the providers (savers) of capital. Non-financial corporation’s net users and U. S. governments are users (borrowers) of capital. Financial corporations are slight users (borrowers), but almost breakeven. Capital is transferred between savers and borrowers by direct transfer, through an investment banking house, or through a financial intermediary. j. What do we call the price that a borrower must pay for debt capital? What is the price of equity capital? What are the four most fundamental factors that affect the cost of money, or the general level of interest rates, in the economy? The price that a borrower must pay for debt capital is called the interest rate. The price of equity capital is the cost of equity equals required return equals dividend yield plus capital gains. The four most fundamental factors that affect the cost of money, or the general level of interest rates, in the economy are production opportunities, time preferences for consumption, risk, and expected inflation. k. What are some economic conditions (including international aspects) that affect the cost of money? Some economic conditions (including international aspects) that affect the cost of money are country risk and exchange rate risk. Country risk depends on the country’s economic, political, and social environment. Exchange rate risk is dependent on the non-dollar denominated investment’s value. l. What are financial securities? Describe some financial instruments. Financial securities are pieces of paper with contractual provisions that entitle their owners to specific rights and claims on specific cash flows or values. Some financial instruments are: †¢U. S. Treasury Bills  ­Sold by U. S. Treasury  ­Default-free risk  ­91 days to one year – original maturity †¢Money Market Mutual Funds  ­Invest in short-term debt; held by businesses and individuals  ­Low degree of risk  ­No specific maturity (instant liquidity) †¢Consumer Credit Loans  ­Loans by banks/credit unions/finance companies  ­Risk is variable  ­Original maturity is variable †¢U. S. Treasury Notes and Bonds  ­Issued by U,S, government  ­No default risk, but price falls if interest rate rises  ­2-30 years – original maturity †¢Municipal Bonds  ­Issued by state and local government to individuals and institutions  ­Riskier than U. S. overnment guides, but exempt from most taxes  ­Up to 30 years – original maturity m. List some financial institutions. Some financial institutions are commercial banks, investment banks, savings and loan, mutual savings bands, credit unions, life insurance companies, mutual funds, pension funds, and hedge funds and private equity funds. n. What are some different types of markets? Some different types of markets are physical asset markets, financial asset markets, spot markets, future markets, money markets, capital markets, mortgage markets, consumer credit markets, and world, national, regional and local markets. . How are secondary markets organized? Secondary markets are organized by location and the way that orders from buyers and sellers are matched. 1)List some physical location markets and some computer/telephone networks. Some physical locations markets are New York Stock Exchange, the American Stock Exchange (AMEX), the Chicago Board of Trade (CBOT), and the Tokyo Stock Exchange. Some computer/telephone networks are NASDAQ, government bond markets, and foreign exchange markets. 2)Explain the differences between open outcry auctions, dealer markets, and electronic communications networks (ECNs). Auction markets are markets where participants have a seat on the exchange, meet face-to-face, and place orders for themselves or for their clients. The two largest auction markets for stocks are the New York Stock Exchange and the American Stock Exchange. The New York Stock Exchange is a modified auction with a â€Å"specialist. † Dealer markets are markets where â€Å"dealers† keep an inventory of the stock (or other financial assets) and place bids and ask â€Å"advertisements†, which are prices at which they are willing to buy and sell. There are often many dealers for each stock. A computerized quotation system keeps track of bid and ask prices, but does not automatically match buyers and sellers. Examples of dealer markets are the NASDAQ National Market, NASDAQ Small Cap Market, London SEAQ, and German Neuer Market. Electronic communication networks (ECNs) are computerized systems that match orders from buyers and sellers and automatically execute the transaction. It is a low cost to transact. Examples of ECNs are Instinet (U. S. stocks owned by NASDAQ), Archipelago (U. S. stocks owned by NYSE), Eurex (Swiss-German futures contracts), and SETS (London stocks). p. Briefly explain mortgage securitization and how it contributed to the global economic crisis. Mortgage securitization is the pooling of various mortgage loans and their usage as collateral to issue securities. This process allows the originator of the mortgage loans to restructure its balance sheet by reducing the receivables and using the funds received from the sale of securities to invest elsewhere. Mortgage securitization allows the originators of the loans to diversify their risk besides enabling them to secure immediate liquidity for assets which would otherwise have face some difficulty in trading. http://www. economywatch. com/finance/high-finance/mortgage-securitization. html) Mortgage securitization contributed to the global economic crisis in many ways. †¢Homeowners wanted better homes than they could afford. †¢Mortgage brokers encourage homeowners to take mortgages even though they would reset the payments to amounts that the borrowers might not have been able t o afford because the brokers got a commission for closing the deal. †¢Appraisers were over-appraising house values and getting paid at the time of the appraisal. †¢Originating institutions (e. . , Countrywide) were quickly selling the mortgages to investment banks and other institutions. †¢Investment banks created CDOs and got rating agencies to help design and then rate the new CDOs with rating agencies making big profits despite the conflicts of interest. †¢Financial engineers used unrealistic inputs to generate high values for the CDOs. †¢Investment banks sold the CDOs to investors and made big profits. †¢Investors bought the CDOs but either didn’t understand or didn’t care about the risk. †¢Some investors bought â€Å"insurance† via credit default swap. When the mortgages were reset and the borrowers defaulted on them, the values of the CDOs plummeted. †¢Many of the credit default swaps failed to provide insurance beca use the counterparty failed. †¢Many originators and securitizers still owned sub-prime securities, which led to many bankruptcies, government takeovers, and fire sales including New Century, Countrywide, Fannie Mae, Freddie Mac, and many more. PROBLEMS (2-6)In its most recent financial statements, Newhouse, Inc. reported $50 million of net income and $810 million of retained earnings. The previous retained earnings were $780 million. How much in dividends was paid to shareholders during the year? Dividends Paid= (Previous Retained Earnings + Net Income) – Recent Retained Earnings = ($780 million + $50 million) – $810 million = $830 million – $810 million = $20 million (2-7)The Talley Corporation had a taxable income of $365,000 from operations after all operating costs but before (1) interest charges of $50,000, (2) dividends received of $15,000, (3) dividends paid of $25,000, and (4) income taxes. What are the firm’s income tax liability and its after-tax income? What are the company’s marginal and average tax rates on taxable income? Taxable Income$365,000 Less: Interest Charges(50,000) Plus: Dividends Received4,500? $15,000(1 – 0. 70) = $4,500 Total Taxable Income$319,500 Tax Liability= $22,250 + ($319,500 – $100,000)(0. 39) = $22,250 + ($219,500)(0. 39) = $22,250 + $85,605 = $107,855 After-Tax Income: Total Taxable Income$319,500 Less: Tax Liability(107,855) Plus: Non-taxable Dividends Received10,500? 15,000(0. 70) = $10,500 Net Income$222,145 Marginal Tax Rate = 39% Average Tax Rate= Tax Interest Income/Taxable Operating Income = $107,855/$319,500 = 0. 33757 or 33. 76% (2-9)The Shrieves Corporation has $10,000 that it plans to invest in marketable securities. It is choosing among AT&T bonds, which yield 7. 5%, state of Florida muni bonds, which yield 5% (but are not taxable), and AT&T preferred stock, with a dividend yield of 6%. Shrieve’ s corporate tax rate is 35%, and 70% of the dividends received are tax exempt. Find the after-tax rates of return on all three securities. AT&T Bonds – $10,000 x 7. 5% = $750 Taxes = $750 x 35% = $262. 50 $750 – $262. 50 = $487. 50 AT&T Bond Yield = $487. 50/$10,000 = 0. 04875 or 4. 875% AT&T Preferred Stock – $10,000 x 6% = $600 Tax Exemption = $600 x 70% = $420 Taxable Income = $600 – $420 = $180 Taxes = $180 x 35% = $63 $600 – $63 = $537 AT&T Preferred Stock Yield = $537/$10,000 = 0. 0537 or 5. 37% Florida Muni Bonds – $10,000 x 5% = $500 Not taxable, so no tax deductions Florida Muni Bonds Yield = $500/$10,000 = 0. 05 or 5%