European Economic and Monetary Union

Economic and Monetary Union (EMU) is a single currency area within the European Union single market in which people, goods, services and capital move without restrictions. It creates the framework for economic growth and stability and is underpinned by an independent central bank and legal obligations on the participating Member States to pursue sound economic policies and to coordinate these policies very closely.As trade between the EU Member States reaches 60% of their total trade, EMU is the natural complement of the single market. This market will work more efficiently and deliver its benefits more fully with the removal of high transaction costs brought about by currency conversions and the uncertainties linked to exchange rate instability. EMU and the economic performance of the Euro area will have their largest external effects on neighboring economies in western Europe and on developing and transition countries with important trade and financial links to Europe, including countries that link their currencies to the Euro. Among emerging market economies, those likely to be most affected are the transition countries of the central and Eastern Europe and the Baltics.The global environment has been favorable in a number of respects for the transition to EMU and the achievements of its objectives. The strong demand for euro-area exports from industrial countries at more advanced stages of the business cycle and the depreciation of the currencies of euro area countries over the past four years fostered a strengthening of growth in the euro area and helped to offset the effects of the Asian crisis. There are also challenges for EMU in the global economic environment: The crisis in Asia and other emerging market economies could produce adverse spillover effects and make the monetary policy more difficult to carry out. The continuation of the crisis could result in weakening of the external demand, which, in turn, could dampen confidence and domestic demand. The financial market volatility could increase the uncertainty in assessing the economic indicators. The economic crisis in emerging markets could influence the commercial banks in the euro- area to make substantial provisions for non-performing loans. It is, of course, impossible to predict the properties of the behavior of the exchange value of the Euro. With regard to broad trend, it seems likely that the Euro will tend to appreciate against the U.S. dollar and pound sterling over the next few years, but depreciate against the Japanese yen when Japan†s economic recovery begins. The United Kingdom and the United States have reached relatively advanced stages of their cyclical upswings, with resources more fully utilized than in the euro area, the Euro†s initial value comparing to the pound and the U.S. dollar can reasonably be considered to be below its medium-term equilibrium. As the economic recovery in Europe proceeds and the growth in the U.K. and U.S. economies slows, the Euro will most likely appreciate against those currencies. On the other hand, Japan economy remains in the critical position. The resumption of moderate growth will lead to a recovery of the yen. Thus Euro is expected to depreciate against the yen over the next few years. According to some widely made predictions: Euroland's capital markets, from equities to corporate bonds to municipal finance, will grow exponentially in coming years as the removal of cross-border currency risk drives pan-European markets. The Euro will stand alongside the dollar as the second-most-important currency in the world, reflecting its coming role in global trade and finance as well as its common usage by 290 million Euroland citizens. The new central bank has been given the independence to pursue price stability as a primary objective. This feature will affect the credibility of the ECB positively and thus the investors would see the Euro as a stable store of value in the next decade. Once the single currency takes effect, the national central banks of the euro area will reduce their international reserve holdings. Trade within the euro area will be denominated in a single currency and will no longer need to be backed by international reserves. Estimates of the EMU countries† resulting surplus of international reserves range from $50 billion to $230 billion. The scenarios that are presented in the European Commission Forward Studies Unit†s report regarding the economic situation in Europe towards the year 2010, reflect the possibilities rather fairly. I personally find the report an accurate study containing precise predictions. Out of the five futures for Europe, I think the Scenario No.3 seems the most logical and possible theory to occur. The reason I chose this particular scenario is because it focuses on the following issues: Transformation of the public sector Efforts to include Eastern Europe Agreements on unemployment issues Turning hierarchical pyramids on their heads Although in some countries public administrations such as central, regional and local government have started to make preparations for the introduction of the Euro, in general the evidence is that such organizations have taken few practical steps to prepare for the changeover. The grounds mainly are that they have plenty of time because they operate largely at the ‘retail end of the marketplace' and that they will need to await the circulation of the new notes and coins. The view of the Federation des Experts Comptables Europeens (FEE) is that this is a risky and potentially costly strategy and that early preparation is essential to reduce both risks and costs. Public administrations therefore ought to be preparing their own management and operations systems now for the changeover to the Euro according to advice issued by FEE. In the near future, member states would often present the Commission with their convergence programs, which would also assess long term prospects for the public sector. These programs would indicate the durability of deficit cuts in the countries whose public economies have been urgently trimmed to meet Euro conditions. Economic growth and structural reforms to reduce cost pressures on the budget are permanent methods but, for example, special taxes need to be supplemented by corrective measures to ensure permanent budget discipline. Indeed, the views of member states about the long term public economy could diverge when their euro-eligibility is assessed and the choice of euro members has to be explained to the public. The European Union is currently being enlarged to include the transition countries of the Baltics and Eastern Europe. The countries that intend to join the union will need to show progress toward meeting the Maastricht criteria. Potential EU members must overcome a number of challenges. They need to progress with privatization and to continue to reduce government involvement in their economy while disassembling monopolies, removing trade restrains and developing flexible labor markets. Six countries-Cyprus, the Czech Republic, Estonia, Hungary, Poland and Slovenia-have received favorable opinions from the Commission on their applications. These countries have already made good progress in meeting the guidelines of the treaty. In this particular scenario No.3, the accession negotiations of the Union with Turkey is mentioned. I personally think without the contributions of the Eastern Europe and the Baltics the future objectives of the Euro and the European Union can not be accomplished. Especially the future admission of Turkey to the Union is vital regarding the geographical position of this country, which not only connects Europe to Asia but also, forms a bridge of culture, a common ground between people from different horizons. However the Union still ignores the importance of Turkey†s role in various agreements and settlements made between Europe and Asia which are vital for the future of EU. But in the next decade as it starts to see the big picture, the efforts of the Union to include the Eastern Europe in the game would increase remarkably. Strong growth will allow further progress in reducing the euro zone's high jobless rate. Some of the member†s unemployment rate decreased drastically by keeping the game close to the euro zone standards. Job growth has been spurred by record low interest rates, a result of cuts from high levels to assure euro zone convergence. Low rates are fueling domestic demand, especially consumer spending and construction. Business investment is also gaining. Still, global weakness is depressing exports, and that's why job growth is expected to slow a bit in the second half. Even as construction, agriculture, and services, especially tourism, post solid growth, manufacturing jobs fell . The governments plan to cut prices in regulated utilities, likely to be followed by efforts to reform pricing in retail distribution and certain services. Some member countries have a lot of employees who want to work more hours. So automatically a connection is established between the government and the public. In 2010 the governments together with other businesses, local authorities and community associations would continuously try to move the obstacles in the way and make it easier for the unemployed citizens to find a job in a satisfying environment. â€Å"Turning hierarchical pyramids on the heads†. That phase itself made this scenario No.3 look more real than the others. Europe has a long history and the Europeans have lived through more dramatic events than any other culture of the world. It is now time to give the people of Europe something special. Only but only if † the hierarchical pyramids† are turned on their heads, will the Europeans thoroughly support the EMU and the Euro. Transformation of the public sector, efforts to include Eastern Europe and the efforts on the critical unemployment issue are all a part of the strategy in the new epoch † Shared Responsibilities†. It is now time that people take the real issue in their hands and get in charge. The times when everything is expected from the governments are over. For the professional organizations of Europe the launch of the Euro presents an important organizational and even philosophical challenge. By bringing down barriers to cross-border trade, the Euro makes a pan-European perspective crucial for efficient and effective operations. Many companies are, therefore, focusing on changing their culture, not their organizational structure. To be successful, Europeans will no longer be able to look at themselves as operating with complete autonomy; rather, they will have to see themselves as operating within a federation of businesses that, while independent, share common responsibilities.

Buddhism in China and Thailand revision

Buddhism is one of the worlds’ major religious. It was initially founded in North Eastern India based on the teachings of Siddhartha Gautama (Wayman, 1997). Its main teachings are based on perseverance in sufferings and rebirth of its followers. It emphasizes on meditation and thorough follow up of good moral values. Thailand and China are two main countries which are known to be strong followers of Buddhist religion. Buddhism as a religion is practiced in two main practice. These are: Mahayana and Theravada. The two countries, China and Thailand have different practices since China practices Mahayana while Thailand practices Theravada.The main difference between the two practices is that Mahayana emphasizes on Bodhisattva and reincarnation ideas leading to Buddha hood whereas Theravada emphasizes on Arahantaship. However, the two practices have a number of similarities. The two practices accepted Sakyamuni Buddha as their teacher. Sakyamuni was a title given to religious pers on who acted as a teacher in teaching the practices of Buddhism (William, 2005). In Buddhism schools, the four noble truths are exactly the same in both practices. These four noble truths guide Buddhist on areas that they should follow.Also, in this school of Buddhism, the eight fold paths are exactly the same in both Theravada and Mahayana practices. The origin of Paticca-Sumuppada is the same in both Mahayana and Theravada practices. The two practices, Mahayana and Theravada rejected the idea of Supreme Being who created and governed the world. They did not believe in Supreme Being who create and governed the country. Both practices accepted three characteristics of existence which include annica, Dukkha and Anata. These characteristic of existence enabled the two practices to exist in either of these ways (Tamura, 1997).Mahayana and Theravada accepted the three levels of training in Buddhist school. These are Sila, Samadhi and Panna without revealing any difference between the tw o practices. These main similarities evidenced by the two practices have greatly strengthened the unity of Buddhism and they have helped Buddhist religion to grow and have little differences regarding the two practices. This is much strengthened by the fact that the two practices worship the same golden god Buddha the only difference is evidence by their practices.The two countries worshipped in temples but difference came in regarding the practices carried out in those temples (Tamura, 1997). In China, the scripture was carried on the back of a white horse. The white horse which carried the scripture was adopted as the name of the temple. In Thailand, practices in temple were different from those of China since in the first place they did not recognize temple as church, but it was considered to be more than a church, since other practices such as village life serving as schools, orphanage theatre, meeting hall, crematorium, youth clubs, and playgrounds and sometime as market place. Buddhist temples in Thailand have strict dress code similar to those of Christians in west. Men were entitled to wearing long pants and a clean short sleeved shirt while women could wear long pants or skirts but their shoulders should not be exposed. Leather sandals were most preferred in Temple since shoes should be removed during worship (Hattaway, 2004). In China, salvation of one individual generally helped the whole society since they did well to the community through their salvation. In Thailand, those who were saved by Buddhist religion did good deeds like: – Giving money to beggars – releasing caged birds-so that they can be free– Giving food to monks since they were not allowed to have any money. In Thailand, there were two sects of Buddhist monks: – Orange robed-Mahanikai – Red brown robbed- stricters or Thammayutt. This sect eats only one meal per day provided to them by those who want to make merits since they were not allowed to own an ything. In China they had one sect of monks and Sutra, the first Buddhist test in Chinese language provided guidance on the conducts of monks. Buddhist in Thailand was the backbone of Thai culture since more than 90% of Thai populations were strict follower of Buddhist religion.Unlike Thailand, China, Buddhist had to transform them into a system which could fit and exist within Chinese way of life. This was made compactable with ancestors worship (McDermott, 1981). The establishment of Balma-si of the Han marked the beginning of Buddhism in China while in Thailand, for religion to develop it took different forms and adapted to different environment (Pyne, 1997). In Mahayana Buddhism, the universe is occupied by the celestial Buddha, bodhisattva and deities that assists Buddha in his practices.The most popular ones are: Kuan yin, medicine Buddha, laughing Buddha and the green and white Taras. In both practices the purpose of life in Buddhism is to end suffering. According to the teac hings of Buddha, human suffer because they strive to get things which don’t bring everlasting happiness. Theravada has only one surviving school and as many as eighteen survived at one time whereas Mahayana had many surviving school. In Buddhist scripture, Theravada had palicanon/Tripitaka only whereas in Mahayana scriptures, they had those used by Theravada Tripitaka plus many other sutras.In Theravada, they had historical Buddha known as Gautama had past Buddha only whereas in Mahayana they had Gautama. Buddha had Amitabha, medicine Buddha and many other Buddha. Theravada Bodhisattva had maitraya only whereas in Mahayana they had maitreya and Avalekitesvara, Mansjuri, ksitigarbha and Samanthabadra (Morgan, 2003). Therefore, the two countries Thailand and China who practiced Buddhism resulted to increased number of its followers. In these countries, Buddhism gained a lot of support and population which made it to be a major religion in the two countries.Buddhism since then h as remained to be major religions in the two countries. Reference: Robert A. McDermott, 1981, Focus of Buddhism, New York. Paul Hattaway, 2004, People of Buddhist World, Amazon. com, New York. Eileen Tamura, 1997, China Understanding Its Past, Amazon. com, New York Paul William, 2005, Buddhism, Amazon. com, New York Alex Wayman, 1997, Untying the Knot in Buddhism, Princeton: London. Richard K. Pyne, 1997, Buddhism, New York. Kenneth W. Morgan, 2003, Path of Buddha, Europe. Kenneth Keulman, 1993, Critical Moments In Religious History, Europe.

PE in school curriculum

Nowadays, sport plays an important role in people life-style. School also put PEE in a curriculum to make children like to play sports and know the way of being health, though some people does not want school to have PEE class because some sports are quite dangerous and It makes students quarrel when they do not satisfy about the scores. In my opinion, I think it is important for students to study PEE because they would recognize the conformity, get an opportunity, and learn to be healthy. The first reason is to recognize the conformity.PEE class provides many kinds of sport that students could play as team and couple. Playing sports as a team would let students know the word â€Å"team work† which Is an Important thing to make them succeed and win. Moreover, they would not be a self-centre people because they learn to plan a game with group, play In a rule, and listen to other opinions. The second reason Is giving an opportunity for students. Some students are not good In aca demic subjects such as Mathematics, but they might good In playing ports.If school does not have PEE class to show their talents, they would feel fail because they think that they are good with nothing then they do not want to go to school. Moreover, Students might find out what do they belong and school can find an athlete from PEE class because students will show their outstanding abilities. On the other hand, it also gives a chance for students who do not have a free time to play sport. The final reason is being healthy. In a PEE class, the teachers teach their students doth of knowledge and performing that students would learn to eat in a healthy way and play sports.In constant, they know how much nutrients and calories should consume in a day and how often should they play sports because eating too much sweets, fats, and carbohydrates is a cause of diseases. Furthermore, students also relieve from seriousness when they are playing a sport. In summary, sports are necessary for s tudents even they might have some disadvantage. PEE might not provide a dangerous sport in a program and teacher just prepare the safety equipment enough for students in every time when they have a class.Therefore, School curriculum should have a PEE class in order to make students reasonable, fit, firm, and far from disease. PEE in school curriculum By tracking students know the word â€Å"team work† which is an important thing to make them learn to plan a game with group, play in a rule, and listen to other opinions. The second reason is giving an opportunity for students. Some students are not good in academic subjects such as Mathematics, but they might good in playing.

Color of my personality Essay Example | Topics and Well Written Essays - 250 words

Color of my personality - Essay Example In recent times, psychologists have pointed out that hereditary factors being more central specifically for personality traits like emotional tones. Nevertheless, acquisition of values, beliefs and expectations seem more ascribed due to the socialization process and early childhood experiences. The green persona is straightforward and does things right for a fast time. They like a neat surrounding, therefore, keep everything in order. They are the most creative and rely heavily on their intuitions. They spend most of their time articulating and discovering new ideas thus embrace the brainstorming sessions since it involves coming up with new ideas. Moreover, the mental impediments that deter other personality colors do not restrict them. Consequently, the combination of their creative nature and absence of mental deterrents prompts the establishment of opportunities and solutions that meets needs of every participant. They are agents of change in the society though they seek it in a more peaceful environment unlike the yellows that are not collaborative. The greens are proponents of growth and prosperity (DiTullio,

Lit Essay Example | Topics and Well Written Essays - 2250 words

Lit - Essay Example In the early days, those schools not attached to a church were primarily intended for the sons of nobility as a means of preparing them for future leadership and, by the seventeenth century, many schools had opened that were supported by private foundations with positions being offered to the poor. The earlier schools catered to specific social classes, frequently requiring students to live within the grounds during the instructional period and sometimes functioning as full-service orphanages. Schools were structured to admit both boys and girls, only boys or only girls depending upon the proprietor and the method of instruction was also left to the discretion of the proprietor. There was widespread concern, however, that educating the masses would lead to large-scale uprisings, so these early attempts at the formation of a national education system began to fade replaced by trade schools, apprenticeships and a general apathy on the parts of the wealthy and the poor alike regarding f ormal education. By the early nineteenth century, the period classified as the Georgian period, curriculum at these schools had been mostly structured to provide appropriate instruction for the particular social class to which it catered (Gillard, 2004). Although this was almost universally true, there was no national curriculum, no standardized block of subjects to be taught and methods of instruction varied as widely as the reputations of said schools. This lack of a formalized national curriculum or even basic curriculum guidelines made it easier for the other form of education system in England to flourish as well. Those families who could afford it often hired governesses for daughters or tutors for sons to instruct their children upon the family grounds, instructing the children in those subjects the family felt important and the educator was qualified to teach. These qualifications were

It is a mooting Essay Example | Topics and Well Written Essays - 750 words

It is a mooting - Essay Example Therefore, the University cannot exclude itself for any liability as a result of negligence, based on the provisions of term (c) of the tenancy agreement since it does not satisfy the requirements of liability, specifically, Schedule 2(a), which requires that for reasonableness to be satisfied, both parties ought to have bargaining positions relative to each other with regards to the availability of any alternative means via which the requirements of the customer could have been met. This is supported by Phillips v Hyland [1987] 1 WLR 659. Ms. Edwards did not have bargaining power relative to that of the University of East England. With regards to other alternatives, she did not have any other since the University of East England offer was the cheapest, which Ms. Edwards could not find anywhere and as such it seems she was under some sort of pressure. According to Schedule (d), for term c to be deemed reasonable, it must be satisfied that at the time of the contract, compliance to th at term would have been practical. This is supported by Smith v Eric S Bush [1990] UKHL 1 2. ... If it pleases you My Lady, I will start with my first submission My Lady, the appeal before you is for the determination of whether a judge in a trial court erred in law in his decision in favor of the respondent, Ms. Edwards. The Appellant, the University of East England argue that, the trial judge erred in law in his determination that a term in a tenancy contract between the University of East England and Ms. Edwards , specifically term (c), which states, c) In the agreement, the University dissolves itself from taking any responsibility in case of damage to a student’s property within its premises, was â€Å"unreasonable†. According to the Appellant, the University of East England, that term, (c), of the tenancy contract satisfies the thresholds for reasonableness on the basis of Section 2(1-2) of the UCTA 1977. We contest this notion and affirms that, the trial did not make in error in law on the basis of Section 2(1-2), which states, In the case of other loss or d amage, a person cannot so exclude or restrict his liability for negligence except in so far as the term or notice satisfies the requirement of reasonableness. We argue that, the University cannot exclude itself from liability arising from any loss or damage caused by negligence based on term (c) of the tenancy contract since it does not satisfy the requirements of reasonableness. My Lady, Schedule 2(a) of the UCTA 1977, requires that, for a term in a contract to be deemed reasonable, both parties ought to have bargaining positions relative to each other with regards to the availability of any alternative means via which the requirements of the customer could have been met. This was held in Phillips v Hyland [1987] 1 WLR 659, where, Lord Justice Slade, Mr. Justice Neill and Sir John Megaw, held in

Porfirian Diaz and his role in the Mexican Revolution Research Paper

Porfirian Diaz and his role in the Mexican Revolution - Research Paper Example Foreign turmoil could not be seized by Diaz and in 1877 there was a military conflict with U. At the ends of his first –term ruling, Porfirio did not appeal for the second term . During Diaz reign there were no civil wars in Mexico. Nevertheless, this benefit cost much to the country. The introduction of agrarian reform, which enabled the privileged class to own all lands, was a negative feature of Diaz regime. Farmers had to pay their debts in order to survive. A high increase of price led to starving in the country. There were no homes for more than 16% of population . Foreign investors were attracted to the country by the options of land owning and poor people were forced off from their lands even those, who owned vast landholding. The high inflation rates of US led to depression of 1907 and prices were life were huge for Mexicans. Porfiriato introduced the laissez-faire policies, but these policies could not facilitate the process of inflation. When the economy was on the edge of crisis, middle and upper class did not support Porfiriato policies anymore. Foreign banks introduced stricter regulations for credit and the government raised taxes. The wages for workers remained low and Porfiriato could not manage to bridge the gap of inflation growth and required money for daily living of people. In spite of political and social turmoil in the country, there was a need to reelect the President and Francisco Madero claimed that there was a need for Mexico to return to the Constitution of 1857 . 4. Dictatorship of Diaz was undermined and was strictly criticized by the people. Madero underlined the necessity to introduce political and not social reforms. He criticized Diaz dependence on the foreign capital and the growing number of American businessmen. Diaz was reelected and the anger intensified in the society. Villages

Shakespeare's Sonnet 73 Essay Example | Topics and Well Written Essays - 750 words

Shakespeare's Sonnet 73 - Essay Example The first two metaphors refer to cyclical events: the speaker compares his old age to winter (1) and to twilight (5). The decrease in length of time – from a year to a day – has often been commented on as reflecting the speaker's gradual acceptance of his own death, but an equally valid interpretation is that neither of these metaphors appropriately address the finality of dying. Winter takes place not just at the end of the year, but also at its beginning: the Christian notion of an afterlife comes across at full strength, along with hints that even if the speaker does believe in a life after death, they do not fully realize that such a life would be far removed from an earthly one. The use of twilight as a metaphor does represent an evolving acceptance of the end of life, as 'twilight' refers specifically to the end of the day. It does, however, have a twin in dawn, and is also not a true ending because it is part of a cyclical event. It is only in the final quatrain, which portrays a â€Å"fire† (9), that the speaker comes to realize the extent of their own mortality. Although other fires will no doubt exist in the future, each fire is an entity of itself, feeding so voraciously off its own nourishment that it gutters out. The fire is not cyclical, and offers little hope of returning to life, just like the speaker. All of the metaphors use very sensory imagery to portray their meanings. The speaker draws attention to the visual, invoking a picture of a young and old man standing opposite one another, as the old intones that â€Å"thou mayst in me behold† (1) the winter of life; â€Å"In me thou seest† (5) the twilight of life; and â€Å"In me thou se'est† (9) a dying fire. It is a very visible poem, but this is not the only sense with which Shakespeare plays. The evocation of â€Å"Bare ruin'd choirs† (4) creates a vacancy of sound, the ringing silence that occurs once the echoes of a song have dissipated; a f eeling of shivering cold emanates from â€Å"those boughs which shake against the cold† (3). The final two metaphors conjure forth a sense of darkness, a tunnel which draws one imperceptibly into the â€Å"black night [which] doth take away† (7), hampering the visual images from the earlier part of the poem. The reader is overwhelmed with sensory experience. The final couplet of the sonnet draws on the strong manipulations of time and one's senses to impress the reader with the deep significance of the multi-layered command. The speaker makes reference to the visual imagery of the earlier metaphors with â€Å"This thou perceivest† (13); he also asks the listener to love with more intensity, given his own decrepitude and the listener's own similar fate. Calling upon his own, shortened time, and the extended time of bodily decay of â€Å"thou† (1, 5, 9, 13), the speaker imbues his sparse words with multiple intentions in order to make the most out of the so nnet. The line â€Å"To love that well which thou must leave ere long† (14) asks the listener to love the speaker, whose time on this earth is limited, and to love their own youth before ageing takes them. The speaker's own horror of old age is tinged with fear that their younger companion is not enjoying

Service visit and analyzes assignment 1 Essay Example | Topics and Well Written Essays - 1000 words

Service visit and analyzes assignment 1 - Essay Example It can be stated that this service provider though operates in a small space with limited guest arrangements but provides high quality food items to its customers. The restaurant even maintains customer relationship through taking details of their guests and informing them about discounts or new dishes being introduced in their menu list. On the other hand Club A Steakhouse is a restaurant that serves high-end customers and is the most famous steakhouse in the city. This restaurant has differentiated its service through creating an artistic ambience, proper lighting, soothing music and excellent food (Bryson and Daniels 112). Club A Steakhouse was established in the year 2008 and since then it has been able to maintain family hospitality in its service with wide range of choices in terms of menu items. Little Owl restaurant believes that it can maintain its market share through delivering high quality food and develops an atmosphere of casual dining. However I feel that ambience is necessary for any restaurant apart from offering good food. As customers spend their valuable time in food outlets so it becomes essential to create an atmosphere that enhances their experience. The seating arrangement of this restaurant is not appropriate which creates a bad impression on customer mindset. On the contrary, Club A Steakhouse is the perfect destination for all those customers who are looking for proper dining with classic ambience. It has drawn a positive impression about the restaurant and I feel that its sophisticated culture is suitable enough for customers to spend their personal time. The restaurant even gives special attention to each of the customers and organizes private events to promote their service quality. In Little Owl restaurant aroma and structural shape are some of the physical evidences that have influenced my customer experience. This restaurant

Racial Assimilation of Black Community in the Mainstream American Essay

Racial Assimilation of Black Community in the Mainstream American Society - Essay Example This paper highlights that the blacks needed to overcome the racial divide maintained by the whites, within the society and their aggressive attitude and flagrant disregard for the niceties brought them into the forefront of socio-political field.  Mere recruitment of the black students in the white dominated colleges was not sufficient for their effective assimilation within the white population. While their campus life may have reduced racial divide, outside the campus, the color of the skin played a major role in their social status. The violence within the campus and the defiant stance of the BSU did pave way to the fulfillment of their demands to ‘established a black studies program, and recruited black faculty and staff in 1969†¦ between 1968 to 1972, more than five hundred black students programs, department, curricula and libraries were established across the nation’.

Film Reaction Paper Essay Example | Topics and Well Written Essays - 250 words

Film Reaction Paper - Essay Example better and even if he knew that he would be fired and that he was bound by a confidentiality agreement, he still blew the whistle on the tobacco companies. Secondly, the character of Al Pacino, Lowell Bergman also made an ethical decision. His company CBS and the management of the program ’60 Minutes’ did not want him to air Jeffrey Wigand interview where Wigand told the truth about tobacco and cigarette smoking. He felt that the company was being manipulated by the possible lawsuit of Brown & Williamson in the event that CBS would air the Wigand interview; under this threat, Bergman protested against the actions of his management and his program. He believed that they were allowing the integrity of the program to be compromised by the rich and powerful companies. Bergman was also forced to compromise his agreement with Wigand to air the interview, and this violated the trust which Wigand placed on Bergman. In order to finally air the interview, Bergman applied some une thical practices by going to other media personalities and to have them write a story about CBS being controlled by a tobacco-company. This did not bode well for his smooth relations with his colleagues in 60 Minutes and in CBS. This eventually led to his resignation from CBS citing the fact that he could not anymore have the same integrity among his sources because he could not promise that they would not be left in the lurch after providing him with crucial information. Lastly, the acts of the heads of the tobacco company in giving false testimony to the Congress on the effects of tobacco, the intimidation tactics they applied on Wigand and his family, and the strong-arm techniques they applied to CBS and 60 Minutes are just some of the many unethical decisions and practices applied by Brown and Williamson. All in all, under these considerations, the movie illustrates clear incidents of ethical (and unethical) decision-making

Effects of Social Problems Symptoms Essay Example for Free

Effects of Social Problems Symptoms Essay The symptoms of social problems among teenagers in this day will give you an impression of the enormous impact and in the individual, society and the State. Teens on this day is the main asset and it is essential in the development of the country at the time to come. Effect of long term and short term will surely apply if teenagers and society on this day does not know how to menanganani problems that exacerbated the tapered, this makes the formation of identity and the glory of the morals of our societys eyes fragile self. Morals is mirrored themselves for personal and individual. If the individual has a bad character, then that personal individual will also be bad. Teens who have bad attitudes, and may give the impression to oneself, family, community, and country. One employee who was born this mortal circle like a white cloth sesuci no kotoranya, it is it is up on the individual it how he wants to mencorakkan his life. Individuals who mencorakkan himself with a good character will be seen noble and high, as opposed to the individual who mencorakkan himself with negative things will be perceived by the public and angle dicemuh round. For someone who had the title of Muslims are predominantly teens, good morals should be decorated with the things of faith and devotion to God. Instead, the muslim teenager kebanyankkan on today is not in accordance with the teachings of islam, by contrast, Nations and religions humiliating the country. Cannot be disclaimed warranties are also symptoms of social impression this gives a deep impression on a persons teens. Families play a role that is very important because of the happiness and harmony of the institution of kekeluargaanlah something that society was formed. The collapse of the family institution will cause a loss of happiness and harmony experienced something of the community. The morals of an individual good and noble juveniles comes from a family institution that harmony and happy. Therefore, the collapse of morals in the family institution will give a great impression upon the happiness and harmony of the family institution. something As a result of his careless harmonian in family a family no doubt will be the enactment of penceraian. This will make the future children will be left unattended and not well maintained, beyond missing site dependent and bermanja. The effect the enactment of social problems such as drugs, addictive lepak cultures, prostitution, gambling, same-sex relationships and other issues. Falls and ups something the State, religion and the nation at present is to see morals and moral thing for society. The disclaimed warranties not the morals of adolescents in todays highly membimbangkan society. If this is not dammed by the party – the party that, chiefly by the Empire, then it is not surprising, someday will come our society will crumble and collapse the morals of adolescents – Malay teen will chiefly rosak and perish. However there is the sharpest impression that will be seen on teen attitudes, and presumably today is not dammed quickly. People in this country will be porak-peranda, were divided and not United-ECE. As a result the bad feelings and prejudices will exist within the community. The nature of each curiga-mencurigai will be enthroned in the hearts of the people. This impression when menberi goes pergaduhan in the community. The incoherent issues will exist if pergaduhan this involves between two clans. As for the crime levels in the community will also increase to which this is due to the levels of moral collapse among teenagers has increased. The main implications against the State if the symptoms are not social ditengani soon will lead the country will lose the leadership generation upholstery in the future. This will make the countrys development will be terbantut kerancakan and State socioeconomic data into humid country because his social and moral collapse of the symptoms is high among the public. This makes the case for the crime levels in the country will also increase in line with increased social symptoms he while enhancing the perbelajaan of kos to reduce rates for the crime. Beyond the evils outside evils will seep into the country if the young generation today dont know keep their morals. And, the main impression is that teens today are predominantly of Islamic morals teenagers crushed and then view rosak Gentiles against religion that we anuti on this day surely gone Askew and bad.

Pilgrim Tourism To Holy Places

Pilgrim Tourism To Holy Places Tourism is the temporary, short-term movement of people to destination outside the places where they normally live and work and their activities during the stay at each destination. It includes movements for all purposes (1976, Tourism Society of England,1976) . Tourism has been described in various ways but may be thought of as the connection and experience arising out of the journeys and temporary stay of people travelling primarily for leisure and recreational purpose. Tourism is thus a multifaceted activity and geographically complex one as different services are sought and supplied at different stages from the origin to the destination. Tourism has emerged as one of the most important instruments to boost economic development in many of the countries across the globe as an engine for economic development, the earnings of foreign exchange, its contribution creation of employment. India has diverse culture and heritage in the North, it has the great Himalayas which gives tremendous opportunities for mountain tourism or adventure tourism. It provides great challenges and difficulties to mountaineers. In the Southern part of the country there is Indian Ocean which gives opportunities to beach tourism and attract large number of foreign and domestic tourists. In the North West there is Thar Desert with Aravalis mountains range. It is highly suitable for desert tourism and heritage tourism. In this way India have very rich natural resources like geographical and cultural diversity, forests, lakes, mountains, rivers and rivulets, sacred shrines, historic monuments and hospitable people, which are necessary for thriving tourism activity (Singh, 2002). Pilgrims with pilgrimage tourism is one of the fastest growing tourism in the world. Not only has it become an important component of the Indian life style (Adrian Ivakhiv, 2003 ) but it has had a profound impact on other peoples of the world and the environments in which they live. Pilgrim tourism to holy places (tirtha-yatra) is an ancient and continuing religious tradition of the Culture of Hindus. Here religion, as a cultural dimension, assumes the vital role and central focus of tourism in which the tourists (pilgrims) from all strata of the Hindus participate. In pilgrim tourism, the dimension of religion forms the basis of tourism of pilgrimage by offering the reward of purification of the soul and attainment of objectives related to the problems of routine life. Hindus from time immemorial were attracted to their numerous holy sites spread throughout India. Pilgrimage is thus a pan-human and pan Indian phenomenon, the meaning of which within the traditional structure of each religion, if not, within castes and communities. According to Skandapurana (a religious treatise), truth, forgiveness, control of senses, kindness to all living beings and simplicity is tirtha. Thus, tirtha yatra not only means physically visiting the holy places but implies mental a nd moral discipline as well. It has rightly said that following the Vedic period, the practice of religious tourism or pilgrimage seems to have gained increased popularity as evident from the great epic Mahabharata (Bhardwaj 1973: 5). The number of pilgrimage sites in India is extremely large but some primary pilgrimage sites include the four Dhams, the Seven Sacred cities and their primary temples, Ashtvinayakas, twelve Jyotirlings, Svaymbhu and Pancha Bhutta linga Temples, the Shakti Pithas, the Kumbha Mela sites, major Vaishnava sites, the Nava Graham Sthalas, the Seven Sacred Rivers, the four Muths of Sri Adi Sankaracharya, the Arupadaividu, Dargah of Hazrat Nizamuddin Auliva, Jama Masjid, Dargah of Muinuddin Chishti, Hazrathbal Mosque, Haji Ali Mausoleum, Church of St. Catejan, Church of the Sacred Heart, Patna Sahib, Sachkhand Sahib, Hemkund Sahib, Little Mount and certain other places that do not fit into any of the categories listed here. In India all temples, Gurudwaras, Mosques and Churches are considered sacred places. As is evident from the list these sites are not related with one religion only and therefore, they attract people of different religions for pilgrimage. Further, many of such places are visited by pilgrims of various religions. It is worth mentioning that Uttarakhand has many important religious places which are quite popular at national level. Some of these places are well known at the international level as well. A brief description of of such places has been given as Haridwar, Rishikesh and Neelkanth in Uttaranchal. Tourism in Uttarakhand Uttarakhand became the 27th state of the Republic of India on November 9, 2000, which was carved out of Uttar Pradesh. It occupies an area of 51,125 sq km and a population of about __________ (__________ per sq km).The entire region is geographically important and is comprised of the two distinct parts i.e. eastern part (known as Kumaon) and western part (known as Garhwal). Uttarakhand is surrounded by a number of states like Himachal Pradesh, and Uttar Pradesh and country like Nepal. Uttarakhand give a distinct sense of tourism practices such as, Adventure tourism activities, leisure activities, wild life national parks and eco tourism activities etc. It is also a home of several religious places belonging to the Hindus and the Sikhs like Kedarnath, Badrinath, Yamunotri, Gangotri, Lokpal and Hemkundsahib. To promote tourism Uttar Pradesh Parvatiya Vikas Nigam was established on 30th March 1971, with authorized capital of Rs. 2 crore, under Companies Act 1956. The main objective of this government body was the development of seven hilly districts i.e. Haridwar, Dehradun, Tihri, Pauri, Uttarkashi, Chamouli and Rudraprayag. After this on 31st March 1976, two more Government companies i.e. Garhwal Mandal Vikas Nigam and Kumaon Mandal Vikas Nigam were established for the development of these regions. The main objectives of these apex bodies in the context of tourism were to work in the area of tourism development and provide basic tourism infrastructure facilities, to promote tourism, a state tourism policy was formulated in 2002 in which emphasis was given on three things i.e. development of eco-friendly tourism with the help of both the public and private sectors and local communities, promote tourism as a source of economic growth by employment and revenue generation, develop Uttarakhand as a leading tourist destination and place Uttarakhand on the tourist map. To promote the pace of tourism a Board named Uttarakhand Tourism Development Board was also established in 2002. This board is the supreme institute which gives suggestions to the government related to all tourism matters. Along with tourism this board also works as a regulatory and licensing authority. It has a negative impact on environment too. Degradation of forestland in and around the tourist places and garbage problems due to booming up of tea stalls and shops and as well as mass tourism are the major environmental problems. All above facts relating to the Uttarakhand reveal that the state government view tourism as a source of economic development and employment generation. They have shown their interest in infrastructure development on public-private participation. Further, efforts have been made to keep environmental aspects into consideration while developing tourism. If these steps implemented properly can lead to tourism growth in the above states. The presentation is written for tourism industry analysts and public officials, who would like to better understand, evaluate, or possibly reduce the negative impact of tourism in Uttarakhand. Haridwar Haridwar is regarded as most sacred destination among Hindu pilgrimages. A staggering number of pilgrims visited Haridwar every year. Haridwar is also a historic and cultural destination, older than many other ancient towns in the world, and is deeply rooted in the history and development of Hinduism and Indian culture from its earliest days. Haridwar meaning à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"Gateway to Godà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  is one of the seven holiest places of the Hindus, located on the banks of River Ganges. With Ujjain, Nasik and Allahabad, Haridwar forms the four important pilgrimage centers of India where Kumbh Mela is celebrated after every 3 years rotated over these 4 destinations. Har-ki-Pauri is the most holy place where thousands of devotees take a dip. Haridwar is located around 200 km north east of Delhi and 54 km south of Dehradun and is probably the most important gateway to Uttarakhand by rail and road. It would also be justifiable to describe it as one of the most important à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"pilgrimage tourismà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  destinations in India.

Social Media In The Business World

Social Media In The Business World It is hard to believe that there once was a time when horses were the latest thing in media technology. Horses were a means of communication over large amounts of land, which as a technological innovation changed the course of history (AMTEC). Media and technology has come an incredibly long way since that time. The rate in which technology is advancing makes it hard to keep up. Todays society revolves around the latest technology and what is current in the mediam everyone wants the latest and the greatest. Technology today gives people endless possibilities at the touch of their fingers at any time of day. A study done by The Nielsen Company projects that by the end of 2011 Smartphones will overtake feature phones in the United States. They also believe that one in two Americans will own a smartphone by Christmas of 2011. Smartphones, which are mobile phones that offer more computing ability and connectivity than feature phones, make it possible to communicate with and connected to anywhere in the world at any time. Smartphones are just one example of the technological revolution we are experiencing today. Social media is a part of the obsession people have with media and technology today. As stated above, technology makes it extremely easy to communicate with people and social media makes it even easier. It is no longer required for someone to be at a computer in order to long onto their favorite social media sites. Smartphones have teamed up with these sites to create applications that allow you to access your social media profile right from your mobile phone. This makes it possible to be literally connected and able to communicate with people twenty-four hours a day. The popularity of social media sites is unbelievable. Is social media a fad? Or is it the biggest shift since the Industrial Revolution? asks Erik Qualman, founder of Socialnomics, which works to provide social and mobile statistics. One of the most popular social media sites, facebook, has attracted more than 500 million active users since it was created in February of 2004. Facebook added 100 million users in less than nine months (Qualman). In contrast, it took the television thirteen years and the internet four years to reach 100 million users. Facebook is not only used by people in the United States. About 70% of its users are outside of the United States and it is available in over 70 different translations, as stated on facebook.com. Also, people spend over 700 billion minutes per month of facebook. A survey done in a College Writing II class at Marist College showed that 100% of the students in the class have a profile on a social media site. The business world is certainly not being left behind by the social media revolution. Contrary to popular belief social media is not solely used for social purposes. As the popularity of these social media sites continue to grow at a rapid rate, businesses are starting to jump on the bandwagon. Businesses can certainly benefit and also be harmed in a number of ways by social media sites. As a result, Social Media is becoming a big factor in employment, affecting both job seekers and employers. People are mistaken when they believe that socializing is the only purpose of social media sites. Besides facebook, twitter and youtube, which are mainly used for social purposes, there are also sites that are used for professional business purposes. These sites are benefitial and present opportunities to both job seekers and businesses looking to hire new employees. One of the more popular professional social media sites is known as LinkedIn. The site defines itself as, A networking tool to find connections to recommended job candidates, industry experts and business partners. With nearly 25 million users LinkedIn serves almost any industry and professions explains Jake Swearingen a reporter for BNET. On LinkedIn users simply make a profile including all their professional information, and start searching and networking. In his article for the CBS Interactive Business Network, Swearingen states that it is easy to create a profile but it takes work to make it as useful as possible. In the article he outlines steps to making a LinkedIn profile that will benefit the user the most. He says before a user connects with other users they must first create a profile with their detailed professional history. Simply copying and pasting their resume on the site will not cut it. A successful LinkedIn profile should reflect professional interests, passions and ambitions (Swearingen). The site is helpful in making sure that the user fills in all areas of their profile but, Swearingen believes there are two specific areas that are crucial in making a profile as effective as possible. The first is the section located right under the users name on their profile. This section is a short headline which is usually four or five words. This will be the first thing people see on a LinkedIn profile besides the users name. In other words, this will be the first impression made on all viewers. This section should be a simple explanatory headline that contains keywords that will help users find eachother, for example, Senior Project Manager at MacDonnell-Douglas or, High-Performing Aeronautical Engineering Projects. The second section contain past job experiences and ambitions for the future. Swearingen informs that when listing past job experiences users should make sure to use verbs as much as possible. It shows that passion about what the user learned from each job. Also, non-jobs can also be listed here. These include positions such as leading a group project. Mrinal Desai, a former LinkedIn evangelist and current vice president at CrossLoop, Inc recommends including what you want to do in the future in this section. After creating the best profile possible on LinkedIn, the user can get and receive recommendations. People who are happy with someones work can write a brief description of their experiences on that persons profile. These recommendations can be seen by anyone who views that specific profile. Recommendations serve a similar purpose as references someone would use when filling out a job application. Having recommendations from past and present colleagues and, or bosses shows that this particular person has good working habits, trustworthy and reliable. All of which are qualities companies look for in employees. As well as being helpful to people looking for jobs, LinkedIn is also extremely beneficial to companies looking to hire new employees. 40% of Fortune 100 companies are using LinkedIn recruiting solutions as of August 2009 (Srinvasen). Businesses can post open positions right on LinkedIn and users can search through the jobs posted for the ones that apply. Then companies can use the LinkedIn Recruiter which searches the entire site for the best possible candidates based on what the company is specifically looking for. The company can then contact the candidates directly through LinkedIn mail. This process is quick, easy and saves companies money. Social media used for pre-employment purposes poses many benefits for people who utilize its tools; however it also can be harmful. The popularity of social media sites makes it extremely easy to acquire information about almost anyone. For example, there are 500 million people on facebook anyone could get to know by poking around their profiles. As a result of this popularity, businesses are beginning to use social media as a part of the hiring process. The purpose of a job interview is to learn something about the candidates personality but that person tries to make the best possible impression on the interviewer. This impression may not depict the persons true personality. Employers want to make sure they are making the best choice before hiring someone and content on social media sites can tell a lot about someones true personality. CEO Max Drucker believes, I personally think were moving away from the one-page resume. I think were moving toward where your online history is your resume. Do you have content on your profile you would not want a possible employer to see? 45% of companies use social media sites to research potential job candidates according to a survey of more than 2,000 HR professionals which was commissioned by CareerBuilder.com. That is nearly half of all companies. In addition, another 11% are planning to start similar practices in the near future. Out of the companies who admitted to using social media as a hiring tool 35% said they had actually rejected a candidate based on content they found during their research. But what exactly do companies find to cause such decisions? Having provocative pictures or information was the main reason employers opted out of hiring someone. Sharing content that involved alcohol and drugs was not far behind. Also, companies dismissed candidates for bad-mouthing previous employers, co-workers, or clients on social media sites. Even the use emoticons or smiley faces that have become very common when communicating technologically are seen as a negative to companies. This does not mean job seekers can no longer reminisce with their friends about the party they went to last weekend on social media sites. Facebook, as well as other social media sites, have made it possible to make your profile private. There are many different settings that can be changed in order to make sure only desired people can see a full facebook profile. The settings can either be set to everyone, which means everyone can see everything on that specific profile, friends of friends, friends only, or custom. Custom makes it possible to block certain friends, but not all friends. Each of these settings can be applied to each aspect of a facebook profile separately. For example, say someone wants everyone on facebook to be able to see their profile pictures, but only wants their friends to be able to see their posts. The everyone setting can be applied specifically to profile pictures, while the friends only setting can be applied to all posts. Also, say someone is friends with their Aunt Joan on facebook, but does not want her to see pictures of what they do on the weekends. Aunt Joan can specifically be blocked from all pictures, still be able to see other sections of the profile and still remain friends with her family member. Users can also make themselves unsearchable, which means if someone types their name in the search bar, at the top of the facebook homepage, their profile will not come up. This assures extra safety from employers looking to do some online research. Researching job candidates online sounds like a convienient way for employers to find out about their personality, but theres a catch. Companies need to be aware of legal issues when doing online research. Michelle Sherman described which information about job candidates is off limits in her article for the Social Media Law Update Blog. She described that under Title VII of the Civil Rights Act prohibits discrimination based on race, color, national origin, religion and gender when making employment related decisions such as, hiring, discipline and termination. The Age Discrimination Act prohibits discrimination against people who are 40 years or older, and the Americans with Disabilities Act of 1990 prohibits discrimination against those who are qualified disabled. Many states add other factors to the list of information that is off limit. For example, the state of California adds sexual orientation, marital status, pregnancy, cancer, political affiliation, genetic characteristics, and gender identity to the list. Companies can easily gain information about the factors stated above by investigating social media sites. Michelle Sherman said, The challenge for employers who are researching job applicants, or monitoring the social media activity of their employees, is to not let this protected status information bleed into their employment decisions. On the other hand, Renee M. Jackson of the National Law Journal believes, Employers should consider whether the benefits of using social media to research applicants outweigh the risks. She also states certain guidelines employers should consider if they decide to screen social media sites. One guideline describes that companies should have a neutral party screen social media sites and filter out any information that is considered off limits under federal law. This neutral party can then pass on acceptable information to the individuals making the hiring decisions. Whoever is doing the online research should never friend a candidate in order to gain access to information. Finally, employers must be able to state a legitimate and nondiscriminatory reason for the decisions they make with documentation to support their claim. CEO of Social Intelligence Corp. Max Drucker says, Look, the employer is damned if they do, and damned if they dont. If they do screening themselves, its a legal landmine. If they dont, they open themselves up to negligent hiring. The presence of social media in the business world does not disappear after the hiring process is complete. People believe that employees who use social media sites while at work can actually benefit the business. It is said to result in external business generation. Considering the popularity of social media today it is the fastest way to advertise to the public. In 2009, Sodexo, a food company, got a lot of buzz because they had their employees tweet under the company name (Welstead). To put this into perspective, if 100 employees get involved, each employee has an average of 100 friends on their social media profile, and they post one company-related status per week that status will reach 10,000 or more people per week. In a matter of minutes a company can advertise to tens of thousands of people they may not be able to reach otherwise. Companies dont always have to rely on their employees to advertise on social media sites. Facebook has made it possible for businesses to create business accounts. Business accounts are different than personal accounts and are designed mainly to as a place for companies to advertise. Once a business creates a business account on facebook it can edit the businesses profile and add photos, videos and events. For example, Honda has its very own facebook page. The page contains information about the company, pictures and videos of the different types of cars, links to pages dedicated to one specific type of car, and promotions of their latest products and campaigns. In addition, businesses can also create ads that will show up on the side of the facebook homepage when the user logs on. Each company can choose their audience by location, age and interests when displaying their ad on facebook. Although, using social media for advertising creates a lot on benefits, it also may harm companies. It is obvious that if employees spend their entire day on social media sites production may decrease, but that is a small speed bump compared to the damage that could be done. The biggest risk is the unauthorized disclosure of confidential company information (Jackson). Leaking confidential company information can cause the company embarrassment, public relations issues and damage to the employers brand or reputation. As a result it is suggested that each company have a social media policy that all employees must follow. It is unrealistic to ban social media as a whole considering the amount of people who own smart phones. In other words, if social media sites are blocked on the company computers, employees can still log on using their mobile phones. Renee Jackson outlined some possible guidelines in her article for the National Law Journal. She described that companies should make it clear that the misuse of social media can be grounds for discipline and even termination. After that is made clear, it should be prohibited for employees to disclose confidential company information, trade secrets or proprietary information. Employees should keep company logos off their personal profiles and bring work-related complaints to human resources before writing about it on the internet. Also, employees should be prohibited from using their company e-mail address to register for social media sites. These are just a few suggested policies companies should consider there are many more additions to this that can insure further protection to the company. Social media has been and can be a source of friendships, which can carry over to the work place. Renee Jackson believes, Employee use of social media can result in an internal creation of a collegial atmosphere through less formal interaction and shared experiences between co-workers. In other words, social media allows co-workers to interact in a less formal manner. They can communicate online in addition to having face-to-face conversations while at work. This strengthens the relationships between co-workers creating a pleasant and strong work environment. The closer employees are the better they work together in a team atmosphere. In contrast to the quote stated above, Renee Jackson also states, On the other hand, employee use of social media can create awkward and potentially harassing situations when such use turns inappropriate. An example of this is if a supervisor wants to be a subordinates friend on a social media site. If the subordinate accepts the request the supervisor now has access to all the information on their profile. On the other hand, if the subordinate decides not to accept it may create an awkward situation in the work place because the supervisor may be offended. Misuse of such sites can cause sexual harassment or create a hostile work environment in more extreme cases (Jackson). Social media is not just a fad. Since facebook first launched in 2004 it has gained over 500 million users. The rate in which it gained popularity was faster than that of any other technological innovation. Social media is beginning to permeate the business world. It can be extremely beneficial to business, but also very harmful. If social media is going to continue to be used in the business world, it needs to be used correctly. For job seekers, site used strictly for socializing should be protected from professionals looking to gain insight into personalities. Professional social media sites make job hunting and networking quick and easy, but in order for them to be successful they need to be developed fully. For companies, social media sites are a convenient want to research possible employees, but they need to make sure they stay clear of all legal issues. Facebook has made it easy for companies to advertise on the site, and they can use their employees to reach more possible cus tomers. However, companies should have a social media policy that all employees must follow in order to make sure all problems are avoided. The concept of professional social media can be extremely beneficial to Generation Y when they being the career search, since they are the majority of the users on social media sites. If they learn how to use social media properly it will put them in a better place for the rest of their lives. They can use social media as a tool to get them a good job. Once they are hired they can use it to make business better. The key to successful and safe social media use is know how to use it safely and to the best of its ability.

Waiting for Godot, Hollow Men and Love Song of J. Alfred Prufrock :: comparison compare contrast essays

Compare Waiting for Godot, Hollow Men and Love Song of J. Alfred Prufrock      Ã‚  Ã‚  Ã‚  Ã‚   Life is occupied by waiting.   In Waiting for Godot, Samuel Becket presents the suffering of the human condition.   Godot is about two beings who talk about nothing, experience the drudgery of life, complain that they do not do anything, meet a few people, think about hanging themselves, and then do it all over again.   The existentialist style by Godot is comparable to T.S. Eliot's works.   Eliot's Love Song of J. Alfred Prufrock, and Hollow Men are about the tormenting cycle of life and death.   The connection among these three works is that people want to and should do so much, but they do not.      Ã‚  Ã‚  Ã‚  Ã‚   Waiting for Godot takes place in a rural area, with just a tree in the background.   The two friends Vladimir and Estragon talk aimlessly and complain about life.   They consider hanging themselves, but realize before they do that they should consult with Godot.   Who or what Godot symbolizes remains a mystery, but their whole existence seems to be to wait for Godot. They meet a couple of fellows: Pozzo, an upper-class man, mistaken by Vladimir and Estragon as Godot, and Pozzo's slave, Lucky.   After they leave, a messenger from Godot arrives and states simply that Godot will arrive tomorrow, same place, same time.   They consider leaving, but do not.   The second act is almost an exact repeat of the first, but Lucky and Pozzo have fallen upon hard times.   Pozzo has become blind and pathetic, and Lucky has become dumb.   This change in events is a direct point of life being terrific one moment, and worthless the next.   Godot never shows up.   The play ends with the two considering to go somewhere, but they do not.      Ã‚  Ã‚  Ã‚  Ã‚   The similarity of this play to Eliot's poem is remarkable.   Eliot's Love Song is in the first person point of view, and this person refers to " you," who is probably a woman.   It is about a man who want to do so much - be with pretty woman, make something of his life.   His flaws are many, though.   He realizes he is getting balder and more wrinkled.   His prowess with women is deteriorating and this disturbs him.

Use of Animals in Art Spiegelmans Maus: A Survivors Tale :: Art Spiegelman Maus A Survivor?s Tale

The Use of Animals in Art Spiegelman's Maus: A Survivor’s Tale The Maus series of books tell a very powerful story about one man’s experience in the Holocaust. They do not tell the story in the conventional novel fashion. Instead, the books take on an approach that uses comic windows as a method of conveying the story. One of the most controversial aspects of this method was the use of animals to portray different races of people. The use of animals as human races shows the reader the ideas of the Holocaust a lot more forcefully than simply using humans as the characters. Art Spiegelman decided on a very interesting, and possibly offensive to some, scheme of different animals to use. The first type of animal that appears is the mouse (Maus 1 p. 5). Mice were used to represent the Jewish people during the Holocaust as well as the present day. Polish police were involved in the first arrest of Jewish persons (Maus 1 p. 27). Polish people were represented with pigs. Once the Germans appeared, the scheme of the animals began to make sense (Maus 1 p. 33). Germans were shown by the use of cats. The last animal to appear were the dogs (Maus 2 p. 12). The dogs are Americans, and were always friendly to the Jewish people. The relationship between these animals portray the ideas of the Holocaust very well. Mice are small and scrawny creatures which are usually hunted by Cats. Cats chase mice and attempt to devour them, much like the Germans hunted down the Jews during the mass genocide. Pigs are very greedy and self centered. During the story, the Polish(Pigs) sold out the Jewish people on many occasions (Maus I p. 143). An example is when Vladek and his family were staying at Kawka’s farm. â€Å"They may come search here any minute! You’ve got to leave!† In this situation, Kawka was not telling the truth, but only trying to protect herself. Dogs chase cats, which in the book was symbolic because the Americans sympathized with the Jewish people. These are very rudimentary overviews of the animals, but they will serve for the purposes of this essay. In the Maus series, the life of Vladek during the Holocaust was detailed. The animals were used to illustrate a point of view. Use of Animals in Art Spiegelman's Maus: A Survivor's Tale :: Art Spiegelman Maus A Survivor?s Tale The Use of Animals in Art Spiegelman's Maus: A Survivor’s Tale The Maus series of books tell a very powerful story about one man’s experience in the Holocaust. They do not tell the story in the conventional novel fashion. Instead, the books take on an approach that uses comic windows as a method of conveying the story. One of the most controversial aspects of this method was the use of animals to portray different races of people. The use of animals as human races shows the reader the ideas of the Holocaust a lot more forcefully than simply using humans as the characters. Art Spiegelman decided on a very interesting, and possibly offensive to some, scheme of different animals to use. The first type of animal that appears is the mouse (Maus 1 p. 5). Mice were used to represent the Jewish people during the Holocaust as well as the present day. Polish police were involved in the first arrest of Jewish persons (Maus 1 p. 27). Polish people were represented with pigs. Once the Germans appeared, the scheme of the animals began to make sense (Maus 1 p. 33). Germans were shown by the use of cats. The last animal to appear were the dogs (Maus 2 p. 12). The dogs are Americans, and were always friendly to the Jewish people. The relationship between these animals portray the ideas of the Holocaust very well. Mice are small and scrawny creatures which are usually hunted by Cats. Cats chase mice and attempt to devour them, much like the Germans hunted down the Jews during the mass genocide. Pigs are very greedy and self centered. During the story, the Polish(Pigs) sold out the Jewish people on many occasions (Maus I p. 143). An example is when Vladek and his family were staying at Kawka’s farm. â€Å"They may come search here any minute! You’ve got to leave!† In this situation, Kawka was not telling the truth, but only trying to protect herself. Dogs chase cats, which in the book was symbolic because the Americans sympathized with the Jewish people. These are very rudimentary overviews of the animals, but they will serve for the purposes of this essay. In the Maus series, the life of Vladek during the Holocaust was detailed. The animals were used to illustrate a point of view.

Globalization is only for Developed Countries Essay

In the 1990s, the term globalization gained the popularity. At that time, globalization had become phenomena with an aura of an elemental force, almost similar to that of time and gravity. In simple words Globalization means that the same products will be available in all the countries of the world. It also means economic integration and a world united by the web. This glorious ideal made us think that if globalization would stay on with all its perks with falling trade barriers, leaving countries batter off economically and that it will reduce the widening gap between the rich and the poor. It was believed that the removal of the barriers to trade and foreign investment would result in a dynamic change in the way a company anywhere in the world would do business. It was hoped that the integration would prove beneficial to all. In the 1990s the iron curtain disappeared and trade barriers started falling, the gifts of several rounds of WTO, the Western and Japanese entrepreneurs started looking far beyond there borders for highly beneficial deals, cheap labor new markets and a very big lot of new customers. Nobel Laureate, Stiglitz (2002) rightly interpreted the situations of developing countries in his illustrative work Globalization and Its Discontents. He says; â€Å"Small developing countries are like small boats. Rapid capital market liberalization, in the manner pushed by the IMF, amounted to setting them off on a voyage on a rough sea, before the holes in their hulls have been repaired, before the captain has received training, before life vests have been put on board. Even in the best of circumstances, there was a high likelihood that they would be overturned when they were hit broadside by a big wave (p. 17). † With the end of World War II globalization started taking shape in a big way. In 1975, there were still only 7000 MNCs compared to more than 60000 today. A maddening race for going global began from opening up a two-man sales office to chalking out a countrywide network. Companies had to be big and they had to be universal. By the 1990s no one was alien to the charms of the phenomenon called globalization. The intellects of the world-entrepreneurs, economists, celebrities and politicians traveled around the world to tell us how small the world was getting. We were told to think globally and act locally. However, soon the reality dawned. The developed nations have discarded the moth-eaten policy and adopted an open-shutter strategy in coping with the developing nations. In the past they donned an apologetic camouflage and devised subtle and under-the-counter means to bring the developing countries round to their point of view, they at least acknowledged their sensitivities and treated them as members, no matter how low-grade, of the homo sapiens species. But now they have thrown all pretence to the winds and, without mincing words, dictated their terms to the developing world. Even Kipling had the decency to spell out the Western concern for the ‘uncivilized’ people of the third world by treating them as ‘the white man’s burden’. He was deeply committed to their improvement and had probably hatched some fantastic schemes to pull them out of their ‘savage’ state. But the present day reformers make no bones about it. They shamelessly believe that the condition of the third world countries is simply irretrievable and no amount of logic and persuasion can help them out of their ugly predicament. Therefore they now rely on dictation as a prescription for their conversation and have imposed their brand of progress and prosperity spineless people of the third world. And they are least bothered about their preferences and priorities.

Common Practices in Religion Essay

What is Religion? The term religion comes from the Latin word ‘religare’ which means to bind. In the world today, there are different forms of religious groups and followings that have unique beliefs and practices depending on their history. It is estimated that there are thousands of religions in the world, including the mainstream religious groups and others that are not known. One of the common characteristics of religious groups is that they all believe in the existence of a supreme being. However, there are those who don’t believe in religion. For such people, religion only assumes the existence of a supreme being while there is no substantive evidence to support the said belief. According to Norris & Inglehart, through the practice of atheism, atheists believe that religion is just a fallacy that might have developed in the past and passed on from generation to generation through the various teachings in culture (2011). For enthusiasts, the reason people are afraid to question religious teachings is because of the fear of repercussions that are likely to occur due to such disbelief. Under this context, religion was assumed to be a creation of scholarly studies in the past with philosophers trying to establish how religion came into being. The major question is what religion is all about and what entails the aspects of it. For most people, there is a thin line between culture and religion. This explains why different cultures have their specific religion and beliefs. However, there are various contentious issues that have never been solved over the years. One thing that would totally shift the paradigm and, in extension, the balance of nature, is if it turned out that no supreme beings the religions are based upon exist. Such a situation would totally erode the gains made in the religious world today and also lead to mass confusion among the staunch religious followers. However, some of the religious beliefs are so strong  that they cannot be influenced by any emerging trend regarding their faith. â€Å"Most of the common definition of religion excludes some fundamental facts about religion and offering an adequate explanation of what religion is† (Hood et al., 2009). From a general perspective, religion is commonly defined as the belief in God. This belief, however, is considered as vague as it excludes some of the ideas that characterize some religious followings such as atheism. If religion was to be solely defined as the belief in God, what would the other religious groups that either believe in a different supreme being and those of atheism be referred to as? This tendency of generalization is what often causes some misconception that is associated with how religion is defined. Then what is the worldview of religion and how is it defined in different places around the world? There are arguments that religion is not hard to define, but rather it is the people themselves who often create the confusion regarding its definition. According to Heelas (2005), one of the greatest challenges is how to define religion without excluding any religious beliefs or followings in the word today. However, there is a conventional way of defining religion which incorporates the primary fundamentals of religion. The following are the fundamentals of religion; The belief in a supernatural being. A clear distinction of what is regarded as the moral way of doing things in accordance with the different religious beliefs and practices. Various rituals that are commonly attributed to the religious groups from different parts of the world. Religious groups have various rituals that characterize the specific religion and establish a code of conduct in which members are supposed to operate. A specific way of communicating with God is done through prayers. However, distinct religious groups have a specific way of praying and other practices that accompany prayers. Different religious feelings that are often experienced whenever the practice is taking place. In some religious groups, members engage in incarnations and a sense of adoration. In other groups, however, there is always the aspect of guilt and repentance during religious sermons. From this approach, the worldview related to religion and what religion entails becomes clear. In most cases, it is believed that religion and religious groups in extensions are very different. This explains why there is no single approach as to what entails  religious practices. However, there is a common characteristic of religion that can be used to generalize the practice from a worldview perspective. In the world today, religion continues to shape the life of the people, whereby the religious followings and teachings provide a guideline on how people are supposed to live and interact with each other and with God. The mainstream religious groups attract millions of followers, which is an indication of just how strong religious faith is. In addition, there are thousands of religious followings that are not captured in the mainstream studies of religion but continue to exist with their distinct religious practices. Religion can, therefore, be universally defined as a compilation of religious systems that share a common belief and focus on the unique characteristics of the members of religious faith. References Heelas, P., Woodhead, L., Seel, B., Tusting, K., & Szerszynski, B. (2005). The Spiritual Revolution: Why Religion is Giving Way to Spirituality. Blackwell. Hood Jr, R. W., Hill, P. C., & Spilka, B. (2009). Psychology of religion: An empirical approach. Guilford Press. Norris, P., & Inglehart, R. (2011). Sacred and secular: Religion and politics worldwide. Cambridge University Press.

Heart Disease

Heart Disease Kayla Tusa Adelphi University Abstract This paper is aimed to view heart disease and show the effects that it can have on the person who has it. The points made in this paper will show what heart disease does to the body. It shows symptoms and treatments that are used with this disease. It mainly shows the facts about heart disease. The illness in my family that I feel poses the greatest threat to me is heart disease. Heart disease has been in my father’s family for a few generations. My father has heart disease and has had two heart attacks during his life.My father had to have quintuple bypass surgery after his second heart attack. My grandfather and great grandfather on my father’s side also both had heart disease and passed away from heart attacks. Since I have all of the knowledge I am aware of this disease and the effects it can have. I also realize the risk I have and take precautions as often as I can. The full name for heart disease is coronary he art disease. This is when there are blockages in the coronary arteries. These blockages are usually cause by atherosclerosis. Atherosclerosis is the buildup of cholesterol and fatty deposits, also called plaques, on the inner walls of the coronary arteries† (A, 2). When these blockages start to form issues come about. Since the arteries are being blocked, it can result in less blood traveling to the heart. If the blood traveling to the heart is restricted then this can cause problems to arise. If the heart does not get enough blood that means it is also not getting enough oxygen and nutrients. One signal that shows this is occurring is chest pains. The name of these chest pains is angina.Another problem that can occur from this blood restriction is a heart attack. A heart attack happens when the heart needs more energy than can be supplied to it from the blood supply it is receiving. There are many factors and causes that heart disease can have. â€Å"The most common risk fac tors include smoking, family history, hypertension, obesity, diabetes, high alcohol consumption, lack of exercise, stress, and hyperlipidemia† (A, 8). Studies have shown that about 54% of cases are linked to smoking, 20% of cases are linked to obesity, and 7-12% of cases are linked to lack of exercise (A, 9).I have asked my father what the causes have been for his heart disease. The causes of my father’s heart disease were smoking, family history, and stress. My father is not able to control family history. He also cannot control when he has stress but he has made efforts to manage his stress better. One thing he has done is that he quit smoking after his second heart attack. He knew that he needed to do this in order to not make his disease worse. A person can also have a higher risk of having heart disease if they have a history of high blood pressure in their family (A, 13-14).There are symptoms of having heart disease. Unfortunately these symptoms are not always not iceable. Sometimes the symptoms are obvious and sometimes there are no symptoms at all. In the early stages of heart disease it is likely for there to be no symptoms. Angina is the most common symptom of heart disease. This is why chest pains are seen as being very serious. The chest pains are felt when the heart is not getting what it needs to function properly. The pain that one experiences differs depending on the person (B, 14-15).This is very dangerous because when the heart is not getting what it needs there may be pains in other parts of the body. The pains do not always occur in the person’s chest. Pain may be felt in the neck, arms, stomach, upper back, or under the sternum (B, 16-17). This is dangerous because one may not realize what the cause of the pain is and may not get the proper treatment for it. When my dad had his second heart attack he did not have chest pains. He had pains in his upper back and was not planning on going to the hospital. He ended up changi ng his mind and was lucky he did because he needed immediate care. Women, elderly people, and people with diabetes are more likely to have symptoms other than chest pain, such as: fatigue, shortness of breath, and general weakness† (B, 20-23). Heart disease cannot be cured, but it has been proved that people can reduce it by making some changes in their lifestyle. One thing listed is a plant-based diet which was shown by Caldwell Esselstyn and Colin Campbell. It states that this diet is â€Å"effective as a treatment of coronary disease, and generalized atherosclerosis† (A, 16-17). Some other changes that can help are weight control, not smoking, avoiding trans fats, consuming fish il, decreasing psychosocial stress, and exercising. When exercising, it is most helpful to do aerobic exercises like walking, jogging, or swimming because it can help decrease blood pressure. When having heart disease, people may take medications as well. One type of medication that is used i s a daily intake of aspirin. Other medications used are usually ones that lower cholesterol. If someone with heart disease has enough blockages in their arteries, they may need to have coronary artery bypass surgery. This surgery is also known more commonly as open heart surgery.This surgery helps clear the blockages that are in the arteries. Another option for treating blockages is coronary angioplasty. This is more commonly known as stents and it is non-surgical (A, 27-29). Multiple tests must be done before heart disease can be diagnosed. Some of the tests that are done are: coronary angiography, echocardiogram, electrocardiogram, electron-beam computed tomography, exercise stress test, heart CT scan, and a nuclear stress test. Coronary angiography is â€Å"an invasive test that evaluates the heart arteries under x-ray† (C, 29). An echocardiogram allows doctors to see the heart beating, and to see the heart valves and other structures of the heart† (D, 14-15). Electr on-beam computed tomography is used to look for calcium. Sometimes there is calcium in the lining of the arteries which increases the chance of getting heart disease. â€Å"An exercise stress test is a screening tool used to test the effect of exercise on your heart† (E, 1). A Heart CT scan is â€Å"an imaging method that uses x-rays to create detailed pictures of the heart and its blood vessels† (F, 1-2).A nuclear stress test is performed to see the blood flow is to the heart both when the body is resting and when it is active. Heart attacks are likely to occur when someone has heart disease. â€Å"Most heart attacks are caused by a blood clot that blocks one of the coronary arteries. The coronary arteries bring blood and oxygen to the heart. If the blood flow is blocked, the heart is starved of oxygen and the heart cells die† (G, 3-4). The substance that could block these arteries is plaque. This is the most common cause for a heart attack. When someone has a heart attack the cause of the heart attack cannot always be determined.Heart attacks can happen at many different times. Some of these times are, â€Å"when you are resting or asleep, after a sudden increase in physical activity, when you are active outside in cold weather, or after sudden or severe emotional or physical stress, including an illness† (G, 10-15). Heart attacks can come suddenly and can cause a lot of damage, so it is very important that they are dealt with right away. As soon as someone thinks they may be having issues they should get help and not wait. This is because with heart attacks, the patient is more likely to die within the first few hours of having the heart attack.Some other symptoms of a heart attack that have not been stated are anxiety, cough, fainting, light-headedness, dizziness, nausea, vomiting, heart palpitations, shortness of breath, and sweating (G, 30-37). Heart attacks with no symptoms are known as â€Å"silent heart attacks† and are dangerous because the person has no signs. When someone goes to the hospital for a heart attack they will be cared for in many different ways. The patient is first hooked up to a monitor so that the doctor is able to see how their heart is beating.The patient also receives oxygen because it helps relieve the heart and takes stress off of the heart because it doesn’t have to work as hard. The patient is also giving an IV because this gives medications and nutrients to the patient. Some people may receive a drug such as morphine in order to reduce chest pains. Another medication that can be given is aspirin. The medication that is administered to the patient depends on what is safe for the patient. If the patient has abnormal heartbeats then they may need electric shocks in an attempt to fix these (G, 57-62).Heart disease is the number one killer of men and women. Heart disease is deadly and can take someone’s life before they know they are in any danger. My great gr andfather had heart disease and passed away after having a heart attack. My grandfather passed away after having a heart attack as well. He was having a normal day and doing his day to day routine when he had his heart attack. He did not speak of any symptoms and had a sudden deadly heart attack. My father has had two heart attacks in his lifetime. He went to the hospital for his first heart attack because he was having chest ains. He had his second heart attack he went to the hospital because he had pains in his back. Soon after being there he found out he had five arteries blocked and needed to have immediate surgery. The recovery took a very long time for him, but he has made some changes in his lifestyle for the better. Heart disease is a serious illness. It is a disease that has been in my family for generations. I am scared because I feel I am at risk of getting this disease. Although I am nervous I am also very informed on the topic and what steps I can take to try to prevent this disease.I am very cautious and try to shape my life around preventing heart disease from entering it. Works Cited a- http://en. wikipedia. org/wiki/Coronary_disease#cite_note-Prevent_and_Reverse_Heart_Disease-11 b- http://www. ncbi. nlm. nih. gov/pubmedhealth/PMH0004449/ c- http://www. nlm. nih. gov/medlineplus/ency/article/007115. htm d- http://www. nlm. nih. gov/medlineplus/ency/article/003869. htm e- http://www. nlm. nih. gov/medlineplus/ency/article/003878. htm f- http://www. nlm. nih. gov/medlineplus/ency/article/007344. htm g- http://www. nlm. nih. gov/medlineplus/ency/article/000195. htm

Weighted Average Cost of Capital and Midland Energy

Executive Summary: Midland Energy Resources, Inc. is a global energy company with a broad array of products and services. The company operates within three different operations including oil and gas exploration and production (E&P), refining and marketing (R&M), and petrochemicals. Midland has proven to be a very profitable company, with reported operating revenue of $248. 5 billion and operating income of $42. 2 billion. The company has been in business for over 120 years and employed more than 80,000 individuals.Janet Mortensen, the senior vice president of project finance for Midland Energy Resources, has been asked to calculate the weighted average cost of capital (WACC) for the company as a whole, as well as each of its three divisions as part of an annual budgeting process. Midland’s Three Divisions: Exploration & Production Oil exploration and production (E&P) is Midland’s most profitable business, and its net margin over the previous five years was among the hig hest in the industry.With oil prices at historic highs in early 2007, Midland anticipated heavy investment in acquisitions of promising properties, in development of its proved undeveloped reserves, and in expanding production. They also needed to account for competition from areas such as the Middle East, Central Asia, Russia, and West Africa. Refining and Marketing Midland had ownership interests in forty refineries around the world with distillation capacity of five million barrels a day. Measured by revenue, this side of the business was Midland’s largest. The relatively small margin was consistent with a long-term trend in the industry.Margins had declined steadily over the previous twenty years. Petrochemicals Petrochemicals is Midland’s smallest but most promising and undervalued division. Midland owned twenty-five manufacturing facilities and five research centers in eight countries around the world. Capital spending in petrochemicals was expected to grow in th e near term. [Midland Energy Case Analysis] Managerial Finance 1 In order to find the cost of capital for Midland Energy Resources and each of the three divisions within the company, we will need to use the formula or weighted average cost of capital (WACC) which is: ( )( rd= Cost of debt re= Cost of equity D= Market value of debt E= Market value of equity V= D+E= Value of the company (or division) T= Tax rate First, we can calculate â€Å"rd† for each division as it is outlined in the case by adding a premium/spread over US Treasury securities of a similar maturity. In other words: ( The two tables in the case are as follows: Table 1 Business Segment Consolidated E&P R&M Petrochemicals Credit Rating A+ A+ BBB AATable 2 Maturity 1-Year 10-Year 30-Year Rate 4. 54% 4. 66% 4. 8% Debt/Value 42. 2% 46. 0% 31. 0% 40. 0% Spread to Treasury 1. 62% 1. 60% 1. 80% 1. 35% ) ) ( ) *For my calculation, I used the 30-year maturity for E&P, R&M, and Midland as a whole as they take on longer term projects. I used the 1-year for petrochemicals as they tend to take on short term projects. [Midland Energy Case Analysis] Managerial Finance 2 Calculations are as follows: rd for Exploration & Production: rd for Refining & Marketing: rd for Petrochemicals: rd for Midland: Second, we need to calculate â€Å"re† for the three divisions as well as Midland as a whole.To find â€Å"re†, we will use the CAPM model outlined in the case: ( ) In order to solve this equation, we need to find beta for the three divisions. The case already outlines Midland’s overall beta at 1. 25. However, the case does not state the beta for the three divisions. We can calculate this using beta for publicly traded companied outlined in the case. Using the following formula, as well as exhibit 5 in the case, we can calculate beta for the three divisions: * ( ) ( )+ [Midland Energy Case Analysis] Managerial Finance 3 Exhibit 5(from case) Exploration & Production: Jackson Energy, Inc.Wi de Plain Petroleum Corsicana Energy Corp Worthington Petroleum Average Refining & Marketing: Bexar Energy, Inc. Kirk Corp. White Point Energy Petrarch Fuel Services Arkana Petroleum Corp. Beaumont Energy, Inc. Dameron Fuel Services Average Midland Energy Resources Equity Market Value 57,931 46,089 42,263 27,591 Net Debt 6,480 39,375 6,442 13,098 D/E 11. 20% 85. 40% 15. 20% 47. 50% 39. 80% Equity Beta 0. 89 1. 21 1. 11 1. 39 1. 15 LTM Revenue 18,512 17,827 14,505 12,820 LTM Earnings 4,981 8,495 4,467 3,506 60,356 15,567 9,204 2,460 18,363 32,662 48,796 6,200 3,017 1,925 -296 5,931 6,743 24,525 0. 30% 19. 40% 20. 90% 12. 00% 32. 30% 20. 60% 50. 30% 20. 30% 1. 7 0. 94 1. 78 0. 24 1. 25 1. 04 1. 42 1. 2 160,708 67,751 31,682 18,874 49,117 59,989 58,750 9,560 1,713 1,402 112 3,353 1,467 4,646 134,114 79,508 59. 30% 1. 25 251,003 18,888 Again the calculation to find Asset ? is: * Equity ? for Midland= 1. 25 ( ) ( )+ Equity ? for E&P= 0. 93*[1+ (1-39. 73%)*85. 19%] =1. 41 Equity? for R&M= 1. 05*[1+ (1-39. 73%)*44. 93%] = 1. 33 *85. 19% and 44. 93% come from Exhibit 1 in the case In order to get Equity ? for Petrochemicals, we will need to take a weighted average of the three divisions.The equation would be as follows: (w1, w2, w3 are based on the total assets of a division divided by Midland’s total assets). To find this, we will use the numbers from Exhibit 3 in the case: [Midland Energy Case Analysis] Managerial Finance 4 2004 E&P 76,866 R&M 60,688 Petro 19,943 Midland 157,497 2005 125,042 2006 140,100 Avg 114,002. 67 91,629 93,829 82,048. 67 28,000 28,450 25,464. 33 244,671 262,378 221,515. 33 Calculation for w1-3: W1= 114,002. 67/221,515. 33= 0. 51 W2= 82,048. 67/221525. 33= 0. 37 W3= 25,464. 33/221,515. 33= 0. 2 Now we can use the formula from before to find the ? for Petrochemicals: Lastly, we need to find EMRP to find â€Å"re† for Midland and the three divisions. We can find our EMRP number by looking at exhibit 6 in the case: Period 1987-2006 1 967-2006 1926-2006 1900-2006 1872-2006 1798-2006 Average excess return US Equities – T-Bonds 6. 4% 4. 8% 7. 1% 6. 8% 5. 9% 5. 1% Standard Error 3. 7% 2. 6% 2. 2% 1. 9% 1. 6% 1. 2% I will choose to use the average return from the time period of 1798-2006. That is the longest sample size in regards to time, as well as having the lowest standard of error.I will round down to 5% for ease of calculation: [Midland Energy Case Analysis] Managerial Finance 5 ( â€Å"re† for Midland= 4. 98%+5%*1. 25= 11. 23% â€Å"re† for E&P= 4. 98%+5%*1. 41= 12. 03% â€Å"re† for R&M= 4. 98%+5%*1. 33= 11. 63% â€Å"re† for Petrochemicals= 4. 54%+5%*0. 32= 6. 14% ) With this information, we are able to finally calculate the weighted average cost of capital (WACC) for Midland and the 3 divisions of the company. The formula and calculations are as follows: ( )( ) ( ) *D/V are provided in Table 1 for Midland, E&P, R&M, and Petrochemicals. They are 42. 2%, 46. %, 31. 0%, 40. 0 % respectively. WACC-cost of capital we need: WACC for E&P: ( =8. 32% WACC for R&M: ( =9. 29% WACC for Petrochemicals: ( =5. 10% WACC for Midland: ( =9. 17% [Midland Energy Case Analysis] Managerial Finance 6 ) ) ) ) The cost of capital (as shown above) will differ for the three divisions because the business operates in different industries. By being in different industries, the companies have different risk exposure and betas, while also having different credit ratings. All of these components will affect a company’s cost of capital differently.Further Analysis: Mortensen’s estimates were used for many things including performance assessments, mergers and acquisition proposals, stock repurchases, asset appraisals, and financial accounting. As stated in the case, cost of capital is a very important component in WACC calculations. These calculations were being used to evaluate at a divisional level as well as at a corporate level as a whole. In my calculations for the case, I solved for both levels. In regards to Midland’s corporate WACC, Mortensen computed the cost of debt for each division by adding a premium (or â€Å"spread†) over U.S. Treasury securities with an appropriate maturity depending on the division. For Exploration and Production (E&P), Refining and Marketing (R&M), as well as Midland as a corporation, Mortensen used a 30 year maturity TBond assumption as those divisions tended to focus on longer term projects. She decided on a 1 year T-Bond maturity assumption for Petrochemicals as they tended to focus on shorter term projects. Another assumption was that the tax rate (39. 73%) remained constant throughout the case as well as an EMRP of 5%.The EMRP was based on exhibit 6 of the case which examined TBonds during a certain period of time and with a certain standard of error. With a very low standard of error (based on the chart) and advisors, bankers, and investors covering the industry agreeing with 5% as an estimate, I believe the estimate to be appropriate. Analysts on the industry, bankers, and investors tend to have a broader look on companies within an industry as a whole. Lastly, Midland should not use a single corporate hurdle rate for evaluating investment opportunities in all of its divisions because each division is different.Midland is too large of a corporation, with different divisions, each containing its own unique set of risks. Due to the fact that the risk for each division will be different, I believe the corporate hurdle rates for those divisions should also be different to reflect a more accurate corporate assessment. I believe Mortensen did a great job with the information she was presented with in the case and I believe Midland Energy will continue to be a prominent company within the industry. [Midland Energy Case Analysis] Managerial Finance 7