Monday, September 30, 2019

Dream of the Rood & Christian poems Essay

Dream of the Rood is considered to be one of the oldest Christian poems which belongs to the Anglo-Saxon literature. Its authorship is still unknown even today but the text reveals that it is a very old English poem that talks about the personification of a particular tree which was made into a cross where Jesus Christ was crucified. The presence of the cross in this poem and its description in the poem triggers elements of paganism and Christianity at the same time. The fact that the cross associates Jesus’ sacrifice to its own sacrifice by claiming that together they were â€Å"nailed† and â€Å"bloody†. It somewhat reveals a sense of blasphemy by comparing the sufferings of Christ to that of a â€Å"talking tree†. Analysis of Dream of the Rood Dream of the Rood talks about a dream that goes back to the time when Jesus was crucified to save mankind from sin. In this poem the unknown author describes how the sufferings of Christ can also be felt by the tree where the cross was made upon. With dark nails they drove me through: on me those sores are seen, open malice-wounds. I dared not scathe anyone. They mocked us both, we two together. All wet with blood I was, poured out from that Man’s side, after ghost he gave up (lines 46-49). The personification of the tree or the cross is somewhat troubling as it is trying to share the burden and glory that Christ experienced in His sacrifice. Clearly, the tree is not human; therefore, there is no way that it could feel the pain that Christ endured during his crucifixion. The cross could not possibly share the glory either as it never affected it in a logical sense. It is quite troubling because of the fact that the narrator aims to convey the message of trying to show its perspective of the crucifixion by means of telling that it experienced the pains and glory too. It somehow seems to show that Christ’s suffering can be illustrated and elaborated by a mere non-living thing. Also, the idea that the author presented the tree in a rather pagan-like way as it reveals the talking tree shows that associating Christ’s sacrifice with a supernatural being is way too blasphemous. â€Å"It was long since–I yet remember it– that I was hewn at holt’s end, moved from my stem. Strong fiends seized me there,30 worked me for spectacle; cursed ones lifted me. . . (28-31). The poem also seemed too violent with the way the poet used words such as â€Å"sorrows†, â€Å"distressed†, â€Å"wet with blood† and â€Å"wounds†. The imagery conjured by the description of the crucifixion reveals a disturbing image of violence. Also, it is noticeable that the poet wishes to emphasize the sacrifice of Christ to the extent that the readers may feel guilt and remorse. It is, of course, a true notion that people must always be reminded of the Lord’s suffering so they can become grateful and appreciative. However, the overly detailed description somewhat replaces the real purpose of the crucifixion. Conclusion There are many aspects in the poem Dream of the Rood that illustrates disturbing images and ideas. Howevere, it is important to note that this poem is one of the oldest English Christian poems that aims to highlight how Jesus Christ has suffered for our sins. It may be effective in a way that it reminds us again of why we are here for. However, it also important to note that the use of pagan elements such as the tree or the cross which was used for the crucifixion of Christ has some disturbing aspects with regard to illustrating God’s power and sacrifice. Reference â€Å"Dream of the rood. † Retrieved 17 May 2009 from http://faculty. uca. edu/jona/texts/rood. htm

Sunday, September 29, 2019

Role of Business Economic Development

Chapter – 1 Introduction Page 1. 1 Background03 1. 2 Financial economic sector04 1. 3 Microfinance04 1. 4 Economy of Bangladesh05 1. 5 Objectives of the term paper06 Chapter- 2 Conceptual issues 2. 1 The Garment Industry of Bangladesh 06 2. 2 Agriculture07 2. 3 Textile Sector08 2. 4 Manufacturing and Industry09 2. 5 Banking and Finance10 2. 6 Statistical Position of Economy in Bangladesh 10 Chapter-3 Database 3. 1 Economic Transformation11 3. 2 Economic performance12 Chapter 4 Finding of The Study Page 4. 1 Garments & Textiles 12 4. 2 Spinning 16 4. 3 Frozen Foods 18 . 4 Leather 19 4. 5 Electronics 20 4. 6 Agriculture 21 4. 7 Information Technology 24 4. 8 Pharmaceuticals 25 Chapter-5 Conclusion 5. 1 Summary of Major Findings 27 5. 2 Economic Performance 28 5. 3 Policy Recommendation 28 Chapter – 1 Introduction There is no denying the fact that the economical business sector plays a significant role in the economic development of a country. The importance of an efficien t economic sector lies in the fact that, it ensures domestic resources mobilization, generation of savings, and investments in productive sectors.In fact, it is the system by which a country’s most profitable and efficient projects are systematically and continuously directed to the most productive sources of future growth. The financial system not only transfers funds from savers to investors: it must be able to select projects which will yield the highest returns, accumulate sufficient quantities of capital to fund the range of investment projects across economic activities, account for price risks across assets, monitor performance, and enforce contracts.The larger the business sector in the context of the overall economy, the greater the share of lending by depository rather than central banks, and the greater the share of credit to private sector rather than public sector, the greater is the rate of economic growth. The country's economy is based on agriculture. Rice, ju te, tea, sugarcane, tobacco, and wheat are the major crops. Bangladesh is the world's largest producer of jute. Fishing is also an important economic activity, and beef, dairy products, and poultry are also produced. . 1-Background Bangladesh, since its independence in 1971, had to experience several military rules besides democratically elected government associated with major political assassinations. Regardless of all the aroused disputes, the country constantly pushed to achieve economic, social and developmental success through introduction and implementation of different policies during the ruling period of different elected governments as well as at the time when the country was declared to be under the emergency rule.Bangladesh, named in the list of the developing nations, is blessed with several natural advantages over developed countries. Examples of such are huge reserves of oil, natural gas, coal, timber and the only natural port of the world that connects SAARC and ASEA N business hub together. The utilization of such natural assets are closed to zero. Foreign donors are granting financial aids for reformation and infrastructure development of the country. Loans are being taken on heavy interest, by GOB, from World Bank and Asian Development Bank for developmental purposes. 1. -Financial economic sector The financial sector consists of the central bank, Bangladesh Bank, 4 state owned commercial banks, 5 government-owned specialized (development) banks, 30 domestic private commercial banks, 9 foreign-owned commercial banks, and 29 NBFIs. In terms of both industry assets and deposits, private commercial banks command the greatest market share. Additionally, 298 micro credit organizations are licensed by the Micro credit Regulatory Authority (MRA). Insurance companies, stock exchanges, and cooperative banks comprise a smaller part of the financial system.As of August 2008 the net domestic assets of the country’s banking system were valued at BD T 1. 9 trillion ($28 billion). 1. 3- Microfinance The average annual growth rate in the microfinance sector in Bangladesh over the five years 2003–2008 was 23 percent. It is expected to reach 25 percent annually over the next three years (2009–2012) as a result of growing demand for larger loan sizes. Despite its significant outreach—estimated at 60 percent of all Bangladeshi households—microfinance assets remain less than 2 percent of GDP, having increased only marginally relative to GDP since 2001.The total loan portfolio of the microfinance sector is estimated to exceed BDT 135 billion and total borrowers, to exceed 30 million. Although it is difficult to estimate the unique number of microfinance borrowers, taking into account their cross-indebtedness to different microfinance providers, they likely number 18 million. It is estimated that just over 60 percent of them have income below the poverty line. The Micro credit Regulatory Authority Act of 2006 limits two important potential MFI funding sources: equity investments and deposits.Foreign currency financing is also effectively prohibited. MFIs in general have access funding for most MFIs. These sources seem adequate to cover current funding needs. 1. 4- Economy of Bangladesh Bangladesh is an agriculture driven economy. Total of 54% of the population of the nation is directly and indirectly involved in farming and lives in rural areas (World Bank, 2011). Due to soil fertility and ample supply of water, having the blessing of thousands of rivers and its branches zigzagging nationwide.Bangladesh can harvest three crops every year. Apart from the fact that cyclones and floods damage crops every year, the production of crops meets substantial local consumption demand but are not grown sufficiently enough for export purposes. Where both men and women are engaged in generating foreign revenue and contributing to the GDP. The third sector which contributes greatly to the economy of t he nation is the export of manpower which brings remittances by Bangladeshi workers working abroad, such as in Middle-East Singapore, Malaysia, etc.Due to cultural and religious norms, women previously stayed within the compound of their houses and were liable to take care of the house-hold activities, whereas men were regarded as the only earner and head of the family. CIA World Fact-Book, published in 2010, economy structure of Bangladesh is as follows:- GDP(PPP) $259. 30 Billion GDP Growth 6. 00% GDP(Per Capita) $1,700 Public Debt / National Budget 39. 30% / $11. 43 Billion Inflation Rate 8. 10% Exports $16. 24 Billion Imports $21. 34 Billion External Debts $24. 6 Billion Table-1 Economics Of Bangladesh (Source: CIA World Factbook,2010) Released beat-up report of World Bank, in 2007, estimated Bangladesh of becoming a Middle income country. It has been suggested, to reach the goal, Bangladesh should emphasize to deepen its industrial base, integrate more into global markets and p rioritize urban economic development. The country has large reserves of natural gas, petroleum deposits and low-grade coal. All these minerals are rare and demanding in the global market, specially for industrial and Energy-generation purposes.Cheap labor-force advantages make the local manufactured Products highly competitive in global markets through FDI, introduced and encouraged Firstly by the government formed in 1991. The major source of foreign earnings is being Transacted from garments and textiles export and remittances sent home by Bangladeshi workers living abroad. 1. 5-Objectives of the term paper The broad objective of the study is to examine the reforms that took place in Bangladesh and to explore the financial implications of the reforms.Followings are the specific objectives of the study:  · To review the economic sector reform programs;  · To compare the financial performance of the economic system in Bangladesh before and after implementation of the economic se ctor reforms;  · To identify different problem areas of the economic sector of Bangladesh, which still needed careful restructuring for better performance; and  · To suggest some policy measures for strengthening the restructuring mechanism. Chapter- 2 Conceptual issues 2. 1 The garment industry of BangladeshThe garment industry has played a pioneering role in the development of industrial sector of Bangladesh. Though it took a rather late start i. e. , in 1976 but it soon established its reputation in the world market within a short span of time. Resultantly garment is now one of the main export items of the country. Besides, enriching the country's economy it has played a very important role in alleviating unemployment. At present there are more than two thousand one hundred garment factories in the country employing more than 12 lack labors. 85 percent of the labor force is women. . 2 Agriculture Most Bangladeshis earn their living from agriculture. Although rice and jute are the primary crops, maize and vegetables are assuming greater importance. Tea is grown in the northeast. Because of Bangladesh's fertile soil and normally ample water supply, rice can be grown and harvested three times a year in many areas. Population pressure continues to place a severe burden on productive capacity, creating a food deficit, especially of wheat. Foreign assistance and commercial imports fill the gap, but seasonal hunger remains a problem.Underemployment remains a serious problem, and a growing concern for Bangladesh's agricultural sector will be its ability to absorb additional manpower. Finding alternative sources of employment will continue to be a daunting problem Most Bangladeshis earn their living from agriculture. Although rice and jute are the primary crops, maize and vegetables are assuming greater importance. Tea is grown in the northeast. Because of Bangladesh's fertile soil and normally ample water supply, rice can be grown and harvested three times a ye ar in many areas.Due to a number of factors, These include better flood control and irrigation, a generally more efficient use of fertilizers, and the establishment of better distribution and rural credit networks. Population pressure continues to place a severe burden on productive capacity, creating a food deficit, especially of wheat. Foreign assistance and commercial imports fill the gap, but seasonal hunger remains a problem. Underemployment remains a serious problem, and a growing concern for Bangladesh's agricultural sector will be its ability to absorb additional manpower. [pic] Map showing the growing areas of major agricultural products.Main article: Agriculture of Bangladesh 2. 3 Textile sector Bangladesh's textile industry, which includes knitwear and ready-made garments along with specialized textile products, is the nation's number onexport earner, accounting for 80% of Bangladesh's exports of $15. 56 billion in 2009. Bangladesh is 2nd in world textile exports, and Chi na which exported $120. 1 billion worth of textiles in 2009. The industry employs nearly 3. 5 million workers. Current exports have doubled since 2004. Wages in Bangladesh's textile industry were the lowest in the world as of 2010. [pic]The country was considered the most formidable rival to China where wages were rapidly rising and currency was appreciating. As of 2011 wages remained low for the 3 million people employed in the industry, but labor unrest was increasing despite vigorous government action to enforce labor peace. Owners of textile firms and their political allies were a powerful political influence in Bangladesh. 2. 4 Manufacturing and industry Many new jobs – mostly for women – have been created by the country's dynamic private ready-made garment industry. Eastern Bengal was known for its fine muslin and silk fabric before the British period.The dyes, yarn, and cloth were the envy of much of the pre-modern world. Bengali muslin, silk, and brocade were w orn by the aristocracy of Asia and Europe. The introduction of machine-made textiles from England in the late eighteenth century spelled doom for the costly and time-consuming hand loom process. Cotton growing died out in East Bengal, and the textile industry became dependent on imported yarn. Those who had earned their living in the textile industry were forced to rely more completely on farming. Only the smallest vestiges of a once-thriving cottage industry survived. 2. 5 Banking & Finance The banking system dominates the financial sector accounting for about 97% of the market in terms of assets. * Government has undertaken major reform initiatives to improve the regulatory and legal environments for banks. * Several specialist development financial institutions have been providing long-term debt, equity financing and leasing. [pic] 2. 6- Statistical Position of Economy in Bangladesh |The Economy in 2009-2010 | |Currency | Taka (Tk. | |GDP at current price | Tk. 6,149,432 millio n | |Annual per Capita GDP | Tk. 42,638 | |GDP growth rate at constant price | 5. 88 percent | |Industrial growth rate at constant price | 8. 05 percent | |Inflation rate | 5. 4 percent | |Investment rate | 25. 6 percent of GDP | |National savings rate | 30 percent of GDP | |Exports (US$) | US$ 12,816. 11 million | |Foreign Reserve | US$ 6,562. 0 million (up to May 2008-2009 financial year) | | | |Import and Export | |Principal Industries |Jute, tea, textiles, garments, paper, newsprint, fertilizer, leather and | | |leather gods, sugar, cement, fish processing, pharmaceuticals, chemical | | |industries, etc. |Traditional Export Items |Raw jute, jute manufactures (hessian sacking, carpet backing, carpets), jute | | |products, tea, leather, leather products etc. | |Non-traditional Export Items |Garments, frozen shrimps, other fish products, newsprint, paper, naphtha, | | |furnace oil, urea, ceramic products, light engineering items etc. |Principal Imports |Wheat, oil, seeds, crude pe troleum, raw cotton, edible oil, petroleum products,| | |fertilizer, cement, staple fibers, Raw Cotton, iron & steel, capital goods, | | |pharmaceuticals raw materials etc. | Chapter-3 Database 3. 1- Economic Transformation The Bangladeshi economy has shown great resilience in the face of the recent global economic crisis and recession and has continued to grow at a healthy rate. Since 1996, the economy has grown 5% – 6% per year.Political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms have not slowed down growth. Economists agree that the country has the potential to achieve a higher growth rate if these roadblocks are adequately addressed. More than half of GDP is generated through the service sector, but nearly two-thirds of Bangladeshis are employed in the agriculture sector. The share of agriculture in the labor force is 45%, in industry 30% and in services 25%. The share of the service sector in GDP is 52. 6% while industry’s share is 28. % and agriculture’s 18. 7%. In 2009, garment exports, totaling $12. 3 billion and remittances from overseas Bangladeshis totaling $9. 7 billion accounted for almost 25% of GDP. The country was not completely immune from the global economic downturn; the principal adverse effect of the recession was a reduction in export revenue in 2009. It came on the back of a very high growth of 23% in 2008. However, overall exports declined by only 2. 0%. Despite recent high growth rates, socioeconomic development is still not favorable for the majority of the population. 3. -Economic performance Bangladeshis have access to a water point. However, due to the discovery of arsenic in the ground water, only 76% of these can now be considered safe. In 2006, the Joint Monitoring Program by WHO and UNICEF reported that 51% of urban areas had improved sanitation facilities and only 7% of urban areas had sewerage connection. In addition, only 32% of the rural population was using improved sanitation in 2006. Female economic activity accounts for 52. 7% of the economy, but females earn less than half the income of their male counterparts.The number of poor women is higher than their male counterparts and the extremely poor is largely women, while there is a higher proportion of a female-headed household than male-headed ones among the ultra-poor. However, the country has made significant progress in achieving gender parity in primary and secondary education. Rural areas still lack basic health care facilities and educational institutions. The number of health care facilities in rural areas has not grown as quickly as the number of education institutions, thanks to the NGOs working in the education sector.Child underweight rates have hovered at about 46% since 2000. The total number of undernourished people in Bangladesh is approximately 41 million. Overall, according to the 2010 data, the HDI for Bangladesh was 0. 469 with a ran k of 129 out of 168 countries. The 2005 data shows that the Gini index is 31. 0. |Economic indicators | 2007 | 2008 | 2009 |2010 | | | GDP | $ mm | 68415. 4 | 79554. 4 | 89359. 8 |100357. 0 | | | GDP growth | % | 6. | 6. 2 | 5. 7 |6. 1 | | | Inflation (CPI) | % | 9. 1 | 8. 9 | 5. 4 |8. 1 | | | Unemployment | % | – | – | – |- | | | Foreign direct | % of GDP | 1. 0 | 1. 3 | 0. 8 |1. 0 | | |investment | | | | | | | | Export growth | % | 13. | 7. 0 | 0. 0 |0. 9 | | | Import growth | % | 16. 0 | -2. 1 | -2. 6 |0. 7 | | | Current account | $ mm | 856. 9 | 926. 2 | 3556. 1 |2502. 4 | | |bance | | | | | | | Chapter 4 Finding of The Study 4. 1 GARMENT AND TEXTILES :The garments and textiles industry sector is the biggest export earner sector of Bangladesh with value of over US$12. 347 billion of exports in 2008-2009. Our factories design and produce for the world’s leading brands and retailers, like: Reebok, GAP, Wal-Mart, Hudson Bay, Puma, etc. This rapidly growi ng sector of the Bangladeshi economy offers a unique competitive edge that supports profitable expansion into new strategic markets. |Year |No. of garment |Employment (in |Export of RMG |Total export of |% of RMG to total | | |factories million workers) |(in million US$)|Bangladesh (in million|export | | | | | |US$) | | |2005-06 |4,220 |2. 2 |7,900. 80 |10,526. 16 |75. 08 | |2006-07 |4,490 |2. 4 |9,211. 23 |12,177. 86 |75. 64 | |2007-08 |4,743 |2. 8 |10,699. 80 |14,110. 80 |75. 83 | |2008-09 |4,825 |3. 1 |12,347. 7 |15,565. 19 |79. 33 | Source:  Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Industry Background and Status The phenomenal growth in RMG was experienced in the last decade. In 1984-85, no of Garment factories was 800 RMG jointly with knitwear accounted for more than 70% of total investments in the manufacturing sector during the first half of the 1990’s. At present with about 4,000 factories and a workforce of two million, 80% of which are wo men, employing over 50% of the industrial workforce and having 75% of the total exports earning of the country.Exhibit 6. 1 shows the growth of RMG exports from Bangladesh since 1981-82. Main apparel items exported from Bangladesh (in million US$) |Year |Shirt |Trouser |Jacket |T-shirt |Sweater | |2005-06 |1,056. 69 |2,165. 25 |389. 52 |1,781. 51 |1,044. 01 | |2006-07 |943. 44 |2,201. 32 |1,005. 06 |2,208. 90 |1,248. 09 | |2007-08 |915. 6 |2,512. 74 |1,181. 52 |2,765. 56 |1,474. 09 | |2008-09 |1000. 16 |3,007. 29 |1,299. 74 |3,065. 86 |1,858. 2 | Source:  Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Industry Outlook Multi-Fiber Agreement (MFA) and Generalized System of Preferences (GSP) of the EU are the main factors behind acquainting Bangladesh RMG products to global market ensuring assured market access. Bangladesh is now a significant RMG supplier to North America and Europe. Due to phasing out of MFA, many are doubtful about Bangladesh’s ability t o maintain the fast growth of the recent years in this sector but Bangladesh has taken a better position in the U. S. A market through competition.However, on a more positive note, Bangladesh is expected to maintain its tariff-free access to EU under the European GSP, since the GSP is not covered by the Uruguay Round Agreement. Recently, Canada has also provided tariff-free access of all the items from Bangladesh. Marketing network has been spread over the economies of the continents. End users could well recognize and differentiate the products confidently. Bangladesh RMG industry largely depends on the imported yarns and fabrics. Bangladesh produces only 10% of export-quality cloth used by the garments industry.The need for establishment of backward-linkage industry has become an immediate concern to the government and the exporters. There are enormous opportunities in setting up composite textiles industry combining textile, yarn and garments. Investment Opportunities and governm ent support RMG and textile sectors have enormous investment opportunities. The government of Bangladesh has created a highly favorable policy framework for investment in these sectors offering investors the following choices: 1)    Establishment of new textile / RMG mill in the private sector. 2)  Ã‚   Joint ventures with the existing textile / RMG mill. )  Ã‚   Acquisition of public sector textile mills that are being privatized. 4)  Ã‚   Indirect investment through financial services and / or leasing. To meet up the local demands, backward linkage is a significant trading opportunity and is supported by a government backed incentive: 15% cash subsidy of the fabric cost to exporters sourcing fabrics locally. * SPINNING : Value Addition to the Fibrous Substances Spinning is the first step in textile value chain that adds value to the fibrous substances by converting them into yarn or thread through the processes of drawing, twisting and winding (Exhibit 1).Characteristics o f the yarn vary based on the materials used, fiber length and alignment, quantity of fiber used and degree of twist. The earliest spinning probably involved simply twisting the fibers in the hand. Later, the use of a stick to help twist the fiber was introduced. Drop spinning involves the use of a stick with a whorl or weight to stabilize the spinning of the stick (called a spindle). The spindle is spun, and hangs supported by the yarn as more fiber is introduced. This introduced fiber picks up the twist and becomes yarn. However, the development of spinning wheel allowed a continuous and faster yarn production.Spinning wheels are either foot or hand powered. Modern powered spinning, originally done by water or steam power but now done by electricity, is vastly faster than hand spinning. Materials that can be used to create yarn fall into three broad classes: plant, animal, and synthetic. 1)    Plant materials: cotton, flax (to produce linen), hemp, raffia, yucca, coconut husk, 2)    Animal materials: wool, goat (angora or Cashmere goat), rabbit (angora), llama, alpaca, dog, camel, silk, 3)    Synthetic materials: polyester, nylon, rayon, acetate, Mylar†¦ 4)  Ã‚   Apart from the above, mineral materials like asbestos are also used, but not very often. Spinning Industry in Bangladesh Development of spinning industry in Bangladesh is closely associated with the development of Textile and Clothing (T&C) sector as a whole. Power-driven modern textiles in Bengal were traced back to early twentieth century. Before 1947, modern textiles were only the composite textile mills having spinning and weaving facilities. Later, activities like specialized textile weaving, knitting and hosiery and dyeing-printing-finishing were added.During 1947, there were about 11 composite textile mills in Bangladesh (then East Pakistan) with 1. 1 million spindles and 2. 7 thousand looms. Spindles grew to 3. 2 million in 1956 but declined to 0. 8 million in 1972 as worn-out ob solete spindles went out of operation. In 1972, large-scale manufacturing units including textile mills were nationalized. After 1982, state-owned spinning mills were gradually denationalized. By 1999, spindles installed were 2. 8 million (2. 4 million in the private sector and 0. 4 million in the public sector) with an annual production capacity of 200 million kg.BOI sector Survey found that in 2004, about 3. 44 million spindles are producing 382 million kg of yarn for the textile industry (Exhibit 2). [pic] Challenges of and Supports to the Spinners The success of a robust textile sector largely depends upon an improved and reliable spinning sub-sector. If spinning sub-sector produces substandard / inferior yarn, its adverse effect persists right across the entire value chain. Availability of raw materials, transportation, port facilities and tariff rationalization are the key challenges to the spinners.The Government has been supporting the spinners providing lower tariff for mac hinery spares and raw materials, cash incentives, reduced tax rate, and low-cost funding etc. Investment Outlook Textile & Clothing is the largest manufacturing sector of Bangladesh providing over 4 million jobs, accounting for 5% of GDP, 40% of manufacturing value addition and 75% of total foreign exchange earnings. The growing demands for yarn in the local market, comparatively low cost of doing business, lucrative incentive package, favorable investment policy regime etc are the main reasons for investment in this sustainable sector.Spinning could be chosen. 4. 3 FROZEN FOODS The frozen foods export is the second largest export sector of the country. After some initial difficulties in terms of quality achievement, exporters have earned credibility and trustworthiness in the global market. Assurance of reliable and continued product quality is a major challenge in this sector. Technology orientation, marketing perceptions, and quality improvement aspects invite foreign investment in this sector. The current challenges of international trading are largely dictated by price, quality, time and service.Industry Situation Exporters have earned credibility and trustworthiness in the global market and are committed to maintaining a competitive advantage in product quality. Continuing investment in technology, marketing and quality remain at the forefront of the industries' strategy to meet the challenges of international trade in price, quality, time and service. Industry Outlook Frozen food sub-sector has credible opportunities in Middle East, EU and North American countries and Far Eastern countries. In 2004-05, total fish production was 2. 216 million metric tons of which 8. 2 metric . tons were shrimp. At present, there are 868 fish hatcheries and farm of which 218,000 hectors of shrimp farm. This export-oriented industry includes the following sub-sectors, which need proper attention for augmentation of production, attain international standard quality and exp ort earnings. 1)  Ã‚   Hatcheries,   Sustainable aqua-culture technology. 2)  Ã‚   Feed-meals plants, Processing unit for value-added products. 3)  Ã‚   Investment in frozen food sector with new technology and equipment has a vast potential for growth. * LEATHER Industry SituationBangladesh leather industry is dominated substantially by the domestic investment which is mostly export-oriented. The leather includes some ready-made garments, although that aspect is continued mainly to a small export-trade in â€Å"Italian-make† garments for the US market. Footwear is more important in terms of value addition. This is the fast growing sector for leather products. Presently Bangladesh produces between 2 and 3 percent of the world’s leather market. Most of the livestock base for this production is domestic which is estimated as comprising 1. 8 percent of the world’s cattle stock and 3. percent of the goat stock. The hides andskins (average annual output is 150 million sq. ft. ) have a good international reputation. Foreign direct investment in this sector along with the production of tanning chemicals appears to be highly rewarding. Having the basic raw materials for leather goods as well as for the production of leather shoe, a large pool of low cost but trainable labor force together with tariff concession facility to major importing countries under GSP coverage, Bangladesh can be a potential off shore location for leather and leather products manufacturing with low cost but high quality.In 2004-05 total export of leather goods was 220. 93 million US$ on the other hand it is 257. 27 million US$ during 2005-06 FY. Industry Outlook Provision of newly announced infrastructural facilities through establishment of an integrated Leather Park and simultaneously, growth in the global demand, opportunities for investing in and setting up export-oriented leather industry in Bangladesh is definitely attractive. Foreign investors are welcome to ca pitalize on this opportunity. 4. 5 ELECTRONICS Industry Background The electronics industry in Bangladesh mostly produces consumer items.Home appliances like television, radio, VCD and CD players, refrigerator, air conditioners, oven, electronic fan, blenders etc. are being assembled to a large extent. To ensure the performance reliability, the key challenges in this sector are technical assistance and proper technology orientation of the industry. Developing the significant capacity and skill in assembly and manufacture of a wide range of electronic components and parts is curacies. As yet, Bangladesh does not have any telecommunication equipment industry in the private sector.However, an urgent need for diversification and modernization is felt among the existing entrepreneurs, government and professionals. Government is keen to provide and ensure enabling assistance to the development of this sector. Industry Outlook and Opportunities Skilled, easily trainable and low-cost human resources are the main cost advantage of setting up electronic industry in Bangladesh. Growing domestic demand and international market access are some key attractive issues to the investors. In the economies like Malaysia, Singapore, Korea and Thailand, electronics contribute a major portion in the GDP.They are encouraging electronic industry to shift from low-end assembly operations with high import content of inputs to upstream higher- value-added activities. In this context, relocation, outward investment and joint venture with Bangladeshi companies could be gainful strategies. To capitalize on the comparative advantages, substantial foreign investment from those countries is highly encouraged. * AGRICULTURE Sector Highlights Bangladesh has a tropical climate, a lot of fresh water, indeed a land interspersed with numerous rivers, fertile soil and possibility to cultivate crops round the year.So it is unique to supply raw materials for the agro-based industry. The abundance of na tural resources available in Bangladesh supports a range of highly profitable investment opportunities in agribusiness. Over 90 varieties of vegetable are grown in Bangladesh, yet in this fertile land there is underutilization of the country’s agricultural capacity. This presents many opportunities for investors seeking to export agricultural products, or to meet the rapidly growing local demand. Thriving in this sector are  canned juices,  fruits, vegetables,  dairy and poultry.The country offers: 1)  Ã‚   Huge supply of raw materials exists for the agribusiness industry. 2)  Ã‚   A tropical climate for all year growing, a lot of fresh water, indeed a land interspersed with numerous rivers, available land with fertile soil. 3)  Ã‚   Government and NGOs have been conducting regular training programs to develop skilled manpower for agro-based industry. 4)  Ã‚   Wide range of biodiversity exists for different crops. 5)  Ã‚   Agricultural commodities have a compa ratively higher value added than non-agricultural commodities.Investment opportunities There is a wide variety of investment opportunities including: *  Ã‚  Ã‚  Ã‚   Cold storage facilities serving the supply chain, especially fresh produce for export. *  Ã‚  Ã‚  Ã‚   Fresh produce production for local and export markets. *  Ã‚  Ã‚  Ã‚   Production of fertilizers and cultivation of seeds. *  Ã‚  Ã‚  Ã‚   Eco-friendly jute production, supported by jute technology development institutes. *  Ã‚  Ã‚  Ã‚   Shrimp farming, Halal  foods, Milk and dairy products. *  Ã‚  Ã‚  Ã‚   High value-added foods for export, including herbs, spices, nuts and pulses.Industry Incentives The government encourages development of the agricultural sector through measures to increase crop sector productivity and production of non-crop agriculture. To achieve this, the government provides increased credit, and facilitates greater access to inputs and modern technology. Sector Background Being an agrarian economy, agriculture has dominated in the economy for years. It has fulfilled the preconditions of access to input and raw materials in setting up successful agro-based industries.Alluvial soil, a year-round frost-free environment, adequate water supply and abundance of cheap labor are available in Bangladesh. Increased cultivation of vegetables, spices and tropical fruits now grown in Bangladesh could supply raw materials to local agro-processing industries for both domestic and export markets. In 2005-06, Export of agricultural products accounted for about 1% of total export amounting US$ 76. 24 million. Industry Outlook To avail the competitive and comparative advantages, Bangladesh invites progressive agricultural-practices, improved marketing technique and modern processing facilities.The government emphasizes development of the agricultural sector through appropriate measures to increase crop sector productivity and production of non-crop agriculture by providing incr eased credit, and facilitating greater access to inputs and modern technology. Investment interests in setting up agro-based industries in Bangladesh are highly encouraged. To promote agro-based industries and attract investment in this sector, Board of Investment organized Agri-Invest 2003 Bangladesh in December 2003.This first ever exposition created huge interest among the foreign and local investors. 4. 7 INFORMATION TECHNOLOGY Sector Highlights 1) To investigate the IT industry robustly, deregulation of the telephone has been decided and executed by mid-2003. 2) The extensive growth of mobile telephony resulted in significant opportunities. 3) The industry is at its introductory stage and has opportunity of capitalizing the potential. 4) Bangladesh has a well-educated, skilled, dedicated and growing IT workforce. 5) There is a fast growing domestic market and export demand. ) Strong research assistance from the universities and research institutions are available. Industry Back ground Compared to the neighboring India, Pakistan and other South and South East Asian nations, Bangladesh is lagging behind in IT Sector. But it is true that the sector has vast potentiality to develop. Availability of substantial number of qualified and experienced young people in various branches of engineering, science and technologies have opened up the scope of profitable investment in these sectors.Existing investment in IT sector is mainly small-scale and domestic in nature. Collaboration in the IT sector is mainly based on licensing agreements and representation. A growing number of computer training schools and institutes are being opened. Management of most of the IT firms is professionally strengthened with the Bangladeshis who have studied and worked in both North America and Europe, and returned home. The annual market size for IT including computer hardware, peripherals and software was estimated to be worth approximately US$ 20 million.The market is fast growing at an annual rate of about 25%. The country has over 400,000 PCs Submarine Cable Bangladesh has joined the consortium of SEA-ME-WE-4 submarine cable, which starts its commercial activities from 21st may, 2006. This will especially help prosperous data entry and software sectors. The landing station of this cable is situated at Jhelong in Cox’s bazaar. There are 14 countries of this consortium the countries are Singapore, Thailand, UAE, Bangladesh, India, Pakistan, Sri Lanka, KSA, Egypt, Tunisia, Italy, Algeria and France.It has connected 16 telecommunication organizations of 14 countries. With the direct help from submarine cable Bangladesh can earn more foreign currency by increasing international voice circuit (e. g. submarine cable will give support to establish 100,000 voice circuits. Voice and data communication will be faster. Consortium has created capacity pool, which we can sell also can manage IRV. Broad band service, data transmission, call centre, software export wil l be cheaper. Unemployed youths can easily engage themselves in those services by taking short term training.Bangladesh has right to land 15 landing station without charge. It will help smoother operation of E-commerce, E-governance, E-education, Telemedicine etc. So, there are huge chances of development of ICT sector and finally government will be financially benefited. 4. 8 PHERMACEUTICALS 1)   Pharmaceutical products have huge demand both in local and overseas market. 2)   There are huge demand-supply gap in pharmaceutical products. 3) Bangladesh offers a good number of qualified, skilled pharmacists, bio-chemists, micro-biologists, and chemists for pharmaceutical industries. )   Government offers support for importing raw materials for production. 5) Present Government has taken initiatives to modernize, expand and attract foreign investment in pharmaceutical industries, and for this adopted national medicine policy (revised) 2005, which will help to adapt with the changi ng world under WTO/TRIPS. [pic] Outlook Considering the overall demand, pharmaceuticals is one of the emerging sectors in Bangladesh. Government offers different incentives for importing raw materials pharmaceutical industries. This particular sector has huge potential of growth in the future.For sustainable return, pharmaceutical sector could be a rational choice. Chapter-5 Conclusion 5. 1 Summary of Major Findings The economic sector has tremendous impact on socio-economic structure of the country. It also brings economic prosperity for the any country. We believe that there must be a saturation point for any industry. But for our economic sector, still we are away from it. The economy is likely to grow at a similar pace as experienced over the last ten years — of around 6. 2 percent — in fiscal 2009-10, despite the continued global economic slowdown, Bangladesh Bank said . Most indicators in the first quarter of fiscal 2009-10 point to a more moderate level of econo mic expansion,† the BB said in its latest quarterly review. The BB projection means that the growth is likely to fall short of the government's original target of 7. 2 percent GDP growth for the current fiscal year. â€Å"Bangladesh Bank will produce forecasts for economic growth on a regular basis, in line with the common practice in other central banks across the world â€Å"The significant remittance growth is likely to have positive consequences for both domestic consumption and investment .The third development centres around the healthy growth in private sector credit, which during the first quarter this year grew by 19. 9 percent against a target of 18. 4 percent. This suggests that the credit envelope will â€Å"not be a constraint towards achieving the overall economic growth targets†. Gross domestic agricultural production is expected to be 2. 2 percent higher than that of the previous year, of 65. 6 million tones, on the back of government incentives and hi gher agricultural credit disbursement. The industrial sector is projected to grow between 7. percent and 7. 75 percent in fiscal 2009-10, down from the 9. 47 percent seen last fiscal year, but in line with the average industry sector growth rate over the last ten years Economic growth was also steady in the outgoing year despite some clouds over export earning. The GDP (gross domestic product) growth was 6. 32 percent in FY 2009-10, which was marginally lower than the 6. 71 percent of the previous FY 2008-09, but higher than many other neighboring countries. The GDP for the current FY 2010-11 has been targeted at 7. 2 percent. 5. 2 Economic Performance A steady average annual GDP growth of 5% over the last decade. * Inflation has been kept in single-digit. * Exports have been gradually shifted from traditional goods to more value added items. * Emphasis has been put on manufacturing of backward linkage of Readymade Garments, Pharmaceuticals Industries and IT sector. * The private se ctor is playing an increasingly active role in the economic life of the country, while the public sector concentrates more on the physical, social infrastructure and policy making. 5. 3 Policy RecommendationThe restructuring measures taken so far are definitely not sufficient considering the gravity of the situation. Based on the above discussion the following steps may need to be taken as reform or restructuring measures to speed up the progress  · The problem of excess liquid asset of the banks should be handled with due attention. In order to utilize the excess liquidity  · A number of measures were taken to strengthen the legal framework. However, in order to attain the benefit of improved legal framework, enforcement of legislations should be ensured.Legal procedures should be uncomplicated and disposal of case should be speedier.  · Government interference, political involvement, pressure from the trade unions has to be reduced for the smooth function.  · For developin g the asset utilization ratio, portfolio of asset structure should be rearranged by removing the non-earning assets or transforming the non-earning assets into earning one.  · Technological up-gradation of the banking system is needed equipped with state-of-the-art infrastructure and logistics. Lastly, the problem of Bangladesh financial system is widespread and not related to banking system only. Therefore the scope of the reform measures should also be applied to the non-bank financial institutions. Reference list * Released beat-up report of World Bank, in 2007, estimated Bangladesh. * Bangladesh Garment Manufacturers and Exporters Association (BGMEA) * Bangladesh Export statistics 2009-10, Dhaka, Bangladesh. * A report of Garments published in the magazine, April 2008. * Economic Review – 2010 * Review of Bangladesh Development – 2009 * A report of economics published in the magazine, April 2011

Saturday, September 28, 2019

Failure of Oslo Peace Process Essay Example | Topics and Well Written Essays - 1250 words

Failure of Oslo Peace Process - Essay Example The conflict has been over borders, water rights, security, Palestinian freedom of movement, control of Jerusalem and solving refugee problem. Zionist claims that they returned to claim their ancestral land from Palestinians (Gelvin, 2007, p. 7). Complete dispossession of the Palestinian-Arabs from the land so that Israelis could inhabit and make it a Jewish state become completely impossible. 1947-1949 war which Israel outnumbered Palestine on the land of Palestinians and the continued massacres resulted to continued war up-to-date. Israel over time has forcefully acquired private land in West Bank and taken control of Gaza where Palestinians have little control over their lives, are oppressed and discriminated. Oslo peace process begun as a clandestine negotiation in a house that was secluded and owned by Norwegian Minister of Foreign Affairs in 1990 in the Oslo outskirts. The negotiation was to initiate peace process and even at the time of conducting the meeting it was done in se crecy since house occupants were informed that it was an academic working (Williams, 2009, p. 77). It was illegal for Israel citizens to come into any meeting with members of Palestine Liberation Organization (PLO). Publicizing of the peace process resulted to a serious preparation on both sides to come into an agreement with a long time enemy. This was not taken lightly by the Israelites where an assassination was made on Israel Prime Minister Rabin in 1995. The Oslo Accord comprised of a series of understandings and agreements reached upon and accepted in the initial secret bilateral negotiations conducted between PLO and Israel. It had aspects of mutual recognition and declaration of principles. Every detail of historical undertakings and the failure of the process will be the focus of this paper. Initiation of the process After several centuries of bloodshed, conflicts, unending war, discrimination and inhuman activities, leaders led by Israel Prime Minister Yitzhak Rabin and PL O leader Yaasser Arafat begun negotiations that were meant to resolve the conflict. A mutual recognition was granted and declarations of principles were initiated agreeing to establishment of Palestinian self-government in parts of Gaza strip and West bank (Selby, 2003, p. 182). The accord was agreed upon and signed in 1993 where timetables and frameworks of Palestinians transition to self-rule and address border issues, Jerusalem and Israeli settlements and establishment of Palestinian state. Agreement of transfer of responsibility and powers was reached upon in1994 and a treaty of peace was established. These accords were established for the purpose of keeping peace and maintaining justice throughout the operations between Israel and Palestine. President Clinton, Prime minister Yitzhak Rabin and Palestinian Leader Yasser Arafat after the signing of the Peace Accord. Source: http://janmeador.wordpress.com/2009/06/12/america-adding-sin-to-sin/ Success of Oslo Peace process Control o f most parts of Gaza and Jericho was transferred to Palestinians. Israel forces were therefore within a short time conducted an accelerated withdrawal from the areas specified. Responsibility was given out to over 9,000 Palestinian police force but Israel retained West Bank and most areas of the Jewish settlement in 1994 (Efrat, 2006, p. 201). Transfer of authority was also done on culture, education practices, social welfare, health, tourism and the entire taxation process. Borders between Jordan and Israel were defined and a peace treaty established leading to normalization of existing relations. Later on in 1995, further transfer of powers was done on labor, all economic activities, local

Friday, September 27, 2019

The Systems & Language Skills of English Essay Example | Topics and Well Written Essays - 500 words

The Systems & Language Skills of English - Essay Example So, knowledge of certain words together with major word-building principles of the language can help a student to enrich one’s vocabulary with the help of word-building skills. Grammar involves the rules of combining worlds into phrases and sentences. Its knowledge is an essential part of education since it helps forming grammatically correct and meaningful sentences. At the same time grammar is very interrelated with, and even cannot be used meaningfully without, some knowledge of the function system of English. Function defines the purpose of a word combination, a phrase or a sentence, and outlines its direct meaning. It is very related to grammar because, for example, ‘I have read’ and ‘I read’ are different not only grammatically (different tense forms), but functionally as well – the first phrase expresses a completed action, while the second shows that the action was being performed, but has not necessarily been completed. That is the functional difference. Phonology refers to the sounds and pronunciation of the language. It helps to differentiate spoken and heard words. It is an essential part of learning the language since it is one of the main tools for developing students’ language skills. Though we have identified the four separate systems of the language, it cannot be said that any of them can function or be taught independently. On the contrary, in order to teach students the major macro skills in English, such as reading, writing, listening, and speaking, all the four language systems should be applied. The four major language skills are divided into productive and receptive ones. Productive skills are those that involve individual’s direct and active participation. They are speaking and writing, that is communicating information in a written or oral form. Receptive skills are listening and reading. However, the receptive skills are

Thursday, September 26, 2019

Obesity in American Children Research Paper Example | Topics and Well Written Essays - 2500 words

Obesity in American Children - Research Paper Example 1140). Available evidence in indicates that statistics of childhood and teenage-hood obesity have more than tripled since 1980 and the prevalence does not appear to be showing any significant downward momentum (Wojcicki and Heyman 1457). Almost a third of 2 year-old children are currently overweight or obese with an increased likelihood exposure to cardiovascular disease and diabetes, of hospitalization and a subsequent diagnosis with a mental, bone and joint disorders than non-obese children (Thompson and Wolf 189). Worse still, the causative effects of obesity not only harms millions of Americans healthwise, but concurrently bulges out annual health care costs with little results—more than one quarter of America’s health care budget is devoted to obesity related health issues (Finkelstein and Fiebelkorn 223). The above notwithstanding, the problem stands with worse consequences for a society regarded as a front-runner in nearly every sphere of influence, technology in clusive; overweight children adolescents graduate to adulthood with all the health complications that accompany obesity. What is this obesity anyway? Are there chances of saving a generation whose lives apparently hangs on the pendulum? This paper investigates the impact that obesity on American Children—a disease now considered of epidemic proportions, with regard to its prevalence rates, the contributing factors, the health complications and the possible routes for preventive measures. Across section of epidemiological studies define obesity based on body mass index (BMI). It thus refers to a chronic, complex condition characterized by an excess amount body fat/adipose tissue relative to lean body mass with a resultant effect of â€Å"caloric imbalance†Ã¢â‚¬â€too little calories used in relation to the amount consumed (Daniels, et al 1999). Noteworthy, the amount of body fat consumed and those for subsequent usage are affected by various genetic makeup, behavioral i nteractions as well as environmental factors. More generally, while the causes of obesity may genetically linked, many of them the causes are behaviorally and environmentally conditioned and are remediable with correct child upbringing. The World Health Organization (W.H.O.), The Centers for Disease Control (CDC, Surgeon General, The National Institute of Health (N.I.H.) among other healthcare monitoring organizations, all now recognizes obesity as a major health issue that is in its prime levels of concern in the United States. Even though statistical increases in obesity have been somewhat similar in the industrialized world, the United States’ levels ranks among the highest the world over. The country has witnessed the estimates steadily increase from 13 percentage points in 1962 towards 19.4, 24.5, 26.6, 33.8 percentage points in 1997, 2004, 2007 and 2008 respectively (National Center for Health Statistics par 11-14). Overall, the prevalence has increased by a whopping 33 percent in the last decade alone with an ever burgeoning research evidence indicative of a direct relation between an increased in the mortality rate and the exacerbative effects of obesity (Fontaine, et al. 190). As insinuated above, the root cause of obesity can be tracked to

Wednesday, September 25, 2019

Valuation and Investment Term Paper Example | Topics and Well Written Essays - 1000 words

Valuation and Investment - Term Paper Example More than 60 percent of the potential customers come from US alone. Carnival is a 23.78 billion company by market capitalization. It has 100 ships in its possession and runs 15 hotels comprising of 3420 guest rooms. The company also possesses 395 motor coaches. The company markets its vacation tours through travel agents and operators. The company gets competition from several smaller cruise liners but due to scale of operations the company is in better position to weather them. (Carnival Corporation 2011) Compared to Cruise Lines, Royal Caribbean (RCL) is a smaller company with market capitalization of only $5 billion; however, RCL claims to have the newest fleet in the industry that provides a lot more open space in their fleets. Operationally, they are smaller than Carnival Cruise but hope to pick them fast. Royal Caribbean manages 40 ships and handles traffic of almost 4 million passengers. The Celebrity Cruises segment is meant for premium customers. This segment comprises 9 shi ps and offers some of the premium services. (Royal Caribbean 2011) Financials It will be appropriate to go through the financials of both the company. The following table shows side by side some of the important key parameters. Some Key Financials Cruise Corporation (CCL) Royal Caribbean (RCL) Market Cap (intraday) 23.78bn 5.06bn Current Ratio (mrq) 0.23 0.40 Total Debt/Equity (mrq) 41.26 103.7 Operating Cash Flow (ttm) 3.82billion 1.42billion Qtrly Earnings Growth (yoy) -18.30% 74.0% Trailing P/E (ttm) 12.53 8.71 200-Day Moving Average 38.41 38.41 52-Week High 48.14 49.99 52-Week Low 29.36 23.03 Beta 1.53 3.19 Source: http://uk.finance.yahoo.com/q/ks?s=CCL http://uk.finance.yahoo.com/q/ks?s=RCL Liquidity The above table displays some of the important liquidity ratios for both the company. On liquidity ground the Cruise Corporation stands better than Royal Caribbean as debt-equity and current ratio both are higher in the case of Royal Caribbean; however, the reason for this lies in the recent addition of some of the luxury ships in its fleet increasing its long term debt. Obviously, this has also reflected in its earnings growth too. Earnings Growth As per the quarterly earnings growth, Royal has displayed an impressive 74 % year to year growth against the negative earnings shown by Cruise Corporation. This indicates that though Cruise has larger fleet to cater to the vacation needs, the segment to which it serves is price sensitive and the Cruise is unable to raise its effective rates due to recessionary conditions. The situation for the CCL may improve with the change in economic conditions as being envisaged after nine months and then higher vacation charges may improve the earnings. Nevertheless, robust growth of the economy is not envisaged in near future so the advantage of booming economy that CCL may have because of its larger fleet and capacity to handle larger traffic is several years away. Risk Perception by Market CCL commands higher P/E compared t o RCL as can be seen from the above table. Risk perception (Beta) by market for RCL is much higher than CCL as later commands smaller Beta of 1.53 against 3.19 of RCL. High Beta indicates high volatility in the market price of the stock. In case of some adverse market conditions or due to some other eventuality the price of RCL may see the vertical fall; however, that also indicates that substantial rise in stock price is possible with

Tuesday, September 24, 2019

IRR v. MIRR Valuation Methods Research Paper Example | Topics and Well Written Essays - 2250 words

IRR v. MIRR Valuation Methods - Research Paper Example However, the MIRR valuation method still exhibits a number of limitations noticeable with the use of IRR technique, for instance, its inability to value investments that are mutually exclusive. Additionally, the teaching of both IRR and MIRR in learning institutions has been a cause of concern, with claims that the IRR technique has had more attention at the expense of the MIRR valuation method. This paper focuses on analyzing IRR and MIRR with regard to major issues of concern, emerging issues, factors that have been instrumental in the understanding of IRR and MIRR in class situations, and present and future applications of the two valuation methods. Keywords: IRR (Internal Rate of Return), MIRR (Modified Internal Rate of Return), NPV (Net Present Value) Table of Contents Abstract 2 Table of Contents 3 introduction 3 Main issues in IRR 4 Main issues in MIRR 6 New Learning in IRR 6 New Learning in MIRR 7 Class activities that have facilitated learning and understanding of IRR and MI RR 8 Specific current and future applications and 8 relevance in the workplace 8 Conclusion 10 References 11 introduction The pertinent question in the discussion about IRR and MIRR valuation methods lies in the differences that exist between the two investment appraisal methods. The chief difference in IRR and MIRR valuation methods is traceable to the factors that come into play when calculating the value of an investment with either of the methods. More specifically, the IRR valuation methods, which is more traditional form of the two, measures the worth of an investment with emphasis on internal factors, conspicuously overlooking the impact of interest rates and inflationary impact on the value of an investment. On the contrary, MIRR is a valuation technique that seeks to mitigate the impact of limitations brought about by IRR (Eagle, et al., 2008, p. 70). Just as the name implies, MIRR valuation method is a modification of the IRR valuation method. MIRR allows the value of the investment under query to show the impact of both future and present value of currencies at different times in the life of a project. Largely, IRR technique is an optimistic view on the value of an investment, while the MIRR is a more realistic view on the present and future value of an investment and is deemed more accurate than IRR valuation method (Kierulff, 2008, p. 328). This paper explores the variations between the IRR and MIRR valuation method at length, while taking into account the main issues surrounding the valuation techniques and the future and present applications of the methods. Main issues in IRR The major issue surrounding the IRR valuation method is the method’s inconsideration of environmental factors that have an impact on the value of an investment. The IRR approach compares the net present value of cash inflows and outflows. The point at which the negative cash flows and positive cash flows become equal is the IRR value. Another way to look at the valua tion equation is the point at which the difference between cash inflows and cash outflows equate to zero. In establishing what project to undertake in a scenario where the different projects are under comparison, the project with the highest internal rate of return gets preference over the rest of the projects. Even under this consideration, the IRR value has to exceed the cost of capital rate for the project to be economically viable (Kelleher & MacCormack, 2004, p. 1). Despite its contribution to

Monday, September 23, 2019

IP5- Relations in trade Essay Example | Topics and Well Written Essays - 1250 words

IP5- Relations in trade - Essay Example Through these policies, the actual people behind businesses and the production of market prodcuts have a sense of need for their efforts. They do not feel cheated and they feel the essence of their contribution to society. Two of such policies are fair trade and free trade. In the contest of Content Cow Dairy, this write-up seeks to delve into the meaning of these two terms; fair trade and free trade by drawing the distinction between them. It also seeks to identify how fair trade is achieved and run. What is more, the write-up seeks to explore some of the preferred corporate management strategies that would work best for Content Cow Dairy. Finally the write-up would identify problems faced by the organisation’s foreign affiliates and success ways of remeding the situation. Fairtrade and Free Trade – the Similarities and Differences Fairtrade and free trade are commercial policies that are directed towards the betterment of producers of market produce and their trading counterparts. Accordong to the Fairtrade Foundation (2011), fairtrade is a policy that requires â€Å"companies to pay sustainable prices (which must never fall lower than the market price).† The idea and need for starting fairtrade was born out of giving a fair deal to producers. â€Å"A fair deal includes a fair price for goods and services, decent working conditions, and a commitment from buyers so that there is reasonable security for the producers† (Tribes & Fair Trade Travel, 2009). This is to say that fairtrade is generally focused towards ensuring that prodcuers of market produce are not cheated – as far as the sale and purchase of their produce are concerned. Writing on freetrade however, the Greenpeace International (2011) observes that â€Å"the act of opening up economies is known as "free trade" or "trade liberalisation."† Simply put, free trade is about businesses and companies having the opportunity to trading and opening up new branches in other coutries without much restrictions. Similarly, both free trade and fairtrade are concerned with the betterment of people who put their efforts in doing business. However there is some level of difference in the sense that whereas fairtrade targets the producer and makes sure that the producer gets what he or she deserves, free trade focuses on the marketer (perhaps the one who buys from the producer) to ensure that the marketer is not limited in his or her attempt to trade off his or her products. Fairly traded Products and Reasons for their Selection The initiative of fairtrade was of course focused on specific products and not all other products. In the United Kingdom alone, The Fairtrade Foundation (2011) argues that â€Å"The Fairtrade Foundation has licensed over 3,000 Fairtrade certified products for sale through retail and catering outlets.† These 3,000 products have been categorised into components with each having minor set of products under it. These major pr oducts are listed under food and non-food products. Under the food products, the products include; Bananas, Cocoa, Coffee, Dried Fruit, Fresh Fruit & Fresh Vegetables, Honey, Juices, Nuts/Oil Seeds/Oil, Quinoa, Rice, Spices, Sugar, Tea and Wine (Fairtrade Foundatio

Sunday, September 22, 2019

Three Paintings of the Baroque Period Essay Example for Free

Three Paintings of the Baroque Period Essay Three works of art—particularly painting—that was produced during the Baroque period of the 17th century, includes the painting of Alonso Cano (1652) entitled ‘The Dead Christ Supported by an Angel’; the work of art produced by Francisco de Zurbaran (1660) entitled ‘The Painter Before Christ Crucified’; as well as the painting done by Juan de Valdà ©s Leal (1661) entitled ‘Christ Bearing the Cross’.   The way they portrayed the suffering of Christ has something to do with their philosophy, as well as the nature of their environment. Main Body   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first painting done by Alonso Cano (1652) entitled ‘The Dead Christ Supported by an Angel’ portrays the spirit of Christ after His death on the Mount of Calvary.   This painting shows the spirit of Christ, sitting on a rock with his face down and an angel standing and supporting His shoulders.   The color of the sky tells that it is sunrise, and mountains are being shown with a road and a bush that are illuminated by the light.    On the ground, at the right side of His feet, is a basin of water, where light is also being reflected.   Expressing the Baroque style, this painting uses emotion as well as ambiguity, as Cano (1652) uses subtle and rounded forms, with harmonious colors that can also be described as subtle.   It uses ‘Tenebrism’, with dark colors and tones, and shades that can be described as obscure.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The second painting done by Francisco de Zurbaran (1660) entitled ‘The Painter Before Christ Crucified’ shows a painter who is standing right in front of the cross, looking upward, with an idealizing expression, at the face of Christ.   His right hand is on the middle front of his chest, and his left hand holds some kind of a red rose that is partly subdued in darkness.   With the black background, there is plainness, grace, as well as mystery in the way Zurbaran (1660) portrayed the two beings.    There is intensity and naturalism in the colors and shades that were used.   Although the picture appears to be realistic in form with a bit of parallelism in the lines and shapes, the two bodies glow in the dark, without much precision on where the light comes from.   The art uses Tenebrism, using dark shades and tones, and with obscure implications that form an emotional sense of a drama.   It shows both the excellence and imperfection of the human sight (Web Gallery of Art, n.d.).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lastly, the painting entitled ‘Christ Bearing the Cross’ done by Juan de Valdà ©s Leal (1661) portrays Christ while carrying His cross.   With a dramatic representation of the event, a muscular man at His left whips Him down, while at the right side behind Him are the weeping women of Jerusalem.   In front of Him, at His left side, is a high priest standing and with an expression that is solemn and contented. At the back are two soldiers, rocks, and a tree—with a background that is dark, obscure, and gloomy.   The style is Baroque, as it uses dark colors, shades, and tones, with an obscure implication and a sense of drama attached to the painting.   However, it can also be an earlier representation of ‘Romanticism’ (Web Gallery of Art, n.d.), as it uses dynamic and impetuous forms, colors, and shades, with a touch of violence, energy, and the use of the asymmetry.     Colors used are dark and morose.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To define the painters’ form of art is to define the trends and their philosophies of art.   During the time of Cano (1652), his life in Andalusia, Spain brought him to the religious, Christian culture, where beliefs in Christ and the Bible made him express love and beauty by using shades and colors that dwell in harmony.   He expressed the suffering Christ in a scene that has already finished the tragic part of the death and the suffering. He dwelt more on the beauty of Christ by using smoother colors and forms, and a tranquil shade of light.   His expression of the need for harmony, smooth blending, beauty, and a naturalistic effect may have been due to the event that Andalusia was experiencing some migratory trends from the Muslim (Andalusian people, n.d.).   Having been witnessed personally how Muslims were forcibly expelled from their homeland, he rather focused on the serenity after the death and crucifixion of Christ†¦ especially that Christ Himself was expelled by His own people.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As for Zurbaran (1660), he lived in Estremadura, Portugal, and learned to portray effects that are natural, austere, with certain simplicity and a grace that clearly revealed his emotions.   The purity that is shown in his paintings may have been a personal longing for peace and harmony especially that, at the time the painting was done, The Battle of the Lines was occurring between Spain and Portugal (Battle of the lines of Elvas, n.d.)   As seen in the painting, Zurabaran (1660) is seen to be alone with Christ.   The whole scene is covered in black†¦ probably to cover all evil and violence that were taking place within the area.   As he was experiencing an inner crisis (Web Gallery of Art, n.d.), which internally made him wish for a miracle and a blessing, he focused, rather, on Christ as the sole savior of the world.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lastly, when it comes to Valdà ©as Leal (1661), his being Spanish at a time when his country was becoming less and less powerful made way for expressions of pessimism, boldness, and vigor that made his painting dark, violent, and morose.   That time of Spain was full of wars, difficulties, and crisis; yet it was only the beginning of Spain’s exertion.   As a result, Valdà ©as Leal (1661) depicted the suffering of Christ at a time when His suffering is just starting to get worse†¦ and the cross is becoming heavier with each step.   Colors portray dark and gloomy shades and patterns that restate wars, conflicts, and violence of the age.   The weeping women in the painting show the middle class, who were usually the sufferers of the community.   The high priest, on the other hand, portrays the Church that did not really experience much of the difficulties.   Obscurity may be the effect of a confused emotion. Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The portrayal of a painting has something to do with both the philosophy of the artist and the nature of the surrounding environment.   Despite the similarity of the theme, each painter has his or her own way of expressing the subject.   Based on what the painter would want to focus on, or how he or she would want to portray the event or emotion, philosophy and environment reflect the finished product that is solely unique, majestic, and from within. References Andalusian people.   Retrieved March 10, 2008, from the Wikipedia Online Encyclopedia database: http://en.wikipedia.org/wiki/Andalusian_people. Battle of the lines of Elvas.   (n.d.).   Retrieved March 10, 2008, from the Wikipedia Online Encyclopedia database: http://en.wikipedia.org/wiki/Battle_of_the_Lines_of_Elvas. Web Gallery of Art.   (n.d.).   Baroque painting: the golden age.   Retrieved March 10, 2008, from its official database: http://www.wga.hu/tours/spain/p_17.html.

Saturday, September 21, 2019

Customer Service Essay Example for Free

Customer Service Essay 1. The key concepts and topics in this course that have made me a stronger candidate to continue in the business world would be what I have learned from the units dealing with: Diversity, Customer Behavior, Customer Loyalty, and Exceptional Service: I have learned that customer comments, good or bad should always be taken into consideration, addressed and handled appropriately. Comments can provide insight to the thought process of the customer and it could help improve not only the customer service department but the product as well. The success of a company relies on the customer. Relationship Building and Solving Customer Problems: Satisfied customers will remain customers until there is a better option offered to them. Loyal customers establish an emotional connection with a business and/or company. Their loyalty is motivated by their experience with the products and the service. Customer service is what a company or business provides; customer loyalty is the result of the service. Extraordinary approaches to customer service is to go beyond the customer’s satisfaction, and make every attempt to surpass the customer’s expectations every time. A company earns customer loyalty by molding the shopping experience to the needs of the customer. Customers have a tendency to patronize companies that interactive with them in a positive, meaningful, personal manner. Many companies offer their customers loyalty programs such as; reward programs. This method can ensure a company keeps their current customer base and entices possible new customers. The Impact of Communication Styles on Customer Services:  A business cannot afford to lose customers because of a lack of customer service, but many do. Customers remember how they are treated and pass the word along, good or bad. Once a customer has been treated poorly they are likely not to return to buy from that business again, even if that business has what they need. When customers are satisfied, it is probable that they will spend more on the product or service and keep returning to that business. Customer service representatives (CSRs) play a big role in keeping, and bringing customers to a business. That is why it is essential to train customer service representatives in effective communications styles and skills because they are the liaison between the customer and the business. The CSR’s communication skills can impact the decision of a customer’s loyalty and the right communication style can be helpful in avoiding conflicts. Communication styles are methods in which a particular individual converses with another individual. Great service requires effective communication styles, and skills. Having a combination of these elements will guarantee that the right message is conveyed in a way that ensures the customer receives and understands it correctly and as intended. 2. Discuss how this course has affected you in your professional development as a student and as a person as well as encouraging you on your academic path. This was a very beneficial, educational and informative class. I have chosen the legal  field, more specifically, paralegal studies. I currently work for a bankruptcy law firm and I have learned a great deal since I have been employed there. I have 30 plus years work experience and a great work ethic. With what I have learned in this class, my work ethic, and common sense, I believe I will be successful as a paralegal. I have learned the importance of maintaining professionalism. This class has reinforced my desire to continue in the legal field and has helped me in interacting with clients, co-workers and the attorneys I currently work with. My skills in listening, communicating, observing and relationship building have improved by taking this class. I would recommend a class in customer service, regardless of the professional field one decides to enter into. I believe it would be very insightful and valuable.

Friday, September 20, 2019

Economic Country Analysis For Poland Economics Essay

Economic Country Analysis For Poland Economics Essay 1. Introduction: Today with a GDP of 2,7% (2010 figure projected by European Commission) Poland is one of the fastest growing European economies. The country suffered relatively little from the recent financial crisis in the world markets due to a large internal demand for consumer goods from the growing middle class and low level of household debt compared to its western peers. In addition there has been almost no exposure to sub-prime mortgage product, the country did however suffer from lower demand for its export products. (European Commission, 2009) The Polish state went through a major transformation since it abolished communism in 1989. It joined NATO in 1999, and the European Union in May 2004. With a population of 38.1 million it is the 6th most populated country in the EU. Polands capital is Warsaw and it has a population of around 2 million inhabitants. Poland has an area of 312,678 sq km and is geographically located in the heart of Europe between Germany and Russia. Polands strategic geographic position has been a source of conflicts and for many centuries, currently its attracting foreign direct investment as it is the EUs gateway to the east. (GUS, 2010) Despite steady economic development Poland still has a large development gap to close compared with countries such as Germany or Britain. Currently the GNI per capita is $11,880 (World Bank, 2008). It is expected to join the Euro zone in 2012-2014. Countrys main export products are: foodstuffs, machinery, transportation equipment and chemicals. Polands political situation is stable with a liberal pro reforms government in office. One last thing to keep in mind is that the Catholic Church plays an important role and despite the fact that it is formally separated from the state it does have a large impact on the social policy. The aim of this report is to look at Polands economy from a broad international investors perspective and give some recommendations whether it is a good destination for investment. 2. Factual description Political and social situation The political stage in Poland has been shocked by the crash of the government plane in April 2010 where countrys residing president, Lech Kaczynski, and many prominent politicians have died. Despite the tremendous scale of the tragedy the markets have been largely intact indicating investors confidence in the Polish economy. The political system can be described as a mix of parliamentary and presidential with a somewhat dominant position of the legislative branch. President Kaczynskis death forced a new presidential election where Bronislaw Komorowski, previous speaker of the parliament and a prominent politician of Civic-Platform, came out victorious in the second round having defeated ex-Presidents twin brother and leader of the parliamentary opposition Jaroslaw Kaczynski. Mr Komorowski is closely connected with the center Civic Platform-led government which suggests that the Prime Minister, Donald Tusk, will be more capable of introducing new reforms. Because Poland has traditional had a largely fragmented multiparty system, the current government is a coalition between the above mentioned Civic Platform and PSL. The international investors should welcome recent changes in the political environment both the legislative and executive branch of the government are largely open to friendly political and economic relations with both the EU and its biggest neighbour Russia. Poland is the only EU country to start its recovery without having fallen into recession, and we expect a continued gradual strengthening of growth in 2010-2011. (Eastern European outlook, 2009) Economic structure and growth According to the European Commission, in 2010 Poland will be the fastest developing country in the EU. Strong economic performance should continue throughout 2011 when Poland is expected to remain amongst the fastest growing economies in Europe (Business news, 2010). Nowadays polish economy is well diversified. The traditionally dominant agricultural sector currently contributes 5% of GDP while, it is a large beneficent of the CAP policy and requires major improvements in its production efficiency. The industrial sector of the economy makes up 30% of the GDP. The sector is mainly concentrated around food processing industries, the automotive industry (the biggest brands Deawoo and Fiat) and labor-intensive processes such as textiles and clothing industry. Polands highly educated work force and relatively low labor prices have attracted investment from many international companies. Especially German firms with labor-intensive processes have moved to Poland to benefit from lower wages . Increasing wages are expected to incentivize these firms to move on to other low-wage countries. While this may sound like bad news, the good news is that Poland is now seen as a destination for knowledge intensive businesses with higher profit margins. With one of the largest internal markets in the EU, Poland is a heavyweight both within the region and the Community. Poland has a relatively closed economy, with a relatively well balanced import and export structure slight dominance of imports. Polands GDP growth is expected to reach 2.7% in 2010 and 3.3% in 2011. (such prognoses for Polands economy were presented on May 5th, 2010 by the European Commission) In 2008 unemployment fell to 9.8% (a historic low), but climbed back to 11% in 2009, and remains above the EU average. Inflation for 2008 reached 4.3%, more than the upper limit of the National Bank of Polands target range (3%), but fell to 3.4% in 2009 due to global economic slowdown. If Poland wants to sustain its rapid economic development and attract both development of regional business and foreign investment it needs to address several issues: simplify laws and lower the time required to form new businesses, streamline its rigid labour code, improve the efficiency of its commercial court system. Furthermore, the state has to address the issues of growing spending on the health care and pension systems. These areas cripple the budget and Poland has a budget deficit little beyond 3% of GDP. One of the reasons the state faces these issues is negative population growth and aging society a problem Europe is largely familiar with. (Theodora, 2010) Country Forecast Overview (3 Year) Key Indicators 2009 2010 2011 Real GDP Growth (%) 1.70 3.10 3.40 Consumer Price Inflation (av;%) 3.45 2.50 2.30 Budget Balance (% of GDP) -1.77 -3.00 -2.80 Current-Account Balance (% of GDP) -1.67 -3.00 -3.40 Exchange Rate US$:Euro (av) 3.12 3.12 3.14 Exchange Rate US$:Euro(year-end) 2.85 3.13 3.10 Source: Country Forecast Poland May 2010 Country Forecast Overview (3 Year) Key Indicators 2009 2010 2011 Real GDP Growth (%) 1.70 3.10 3.40 Consumer Price Inflation (av;%) 3.45 2.50 2.30 Budget Balance (% of GDP) -1.77 -3.00 -2.80 Current-Account Balance (% of GDP) -1.67 -3.00 -3.40 Exchange Rate US$:Euro (av) 3.12 3.12 3.14 Exchange Rate US$:Euro(year-end) 2.85 3.13 3.10 Source: Country Forecast Poland May 2010 Year GDP in Billions of USD PPP % GDP Growth 2005 518.00 3.65 2006 567.48 6.27 2007 623.43 6.86 2008 668.58 5.00 2009 688.69 1.70 Source: EIU Country Data 2009 2008 GDP (purchasing power parity) $686.2 billion $678.8 billion GDP per capita (PPP): $17,800 $17,600 Labor force: 16.99 million Unemployment rate: 11% 9.8% Investment (gross fixed): 20.7% of GDP Public debt: 47.5% of GDP 45.2% of GDP Inflation rate (consumer prices): 3.4% 4.2% GDP composition by sector (2009): agriculture: 4.6% industry: 28.1% services: 67.3% Labor force by occupation (2005): agriculture: 17.4% industry: 29.2% services: 53.4% Export / import structure Polands geographical position between the developed Western states and the emerging markets of Eastern Europe (Russia, Ukraine and perhaps Belorussia in the future) makes it a strategic location for exporting industries trying to access high demand consumer markets (Lopez, 2009). Polish main agricultural products are: potatoes, fruits, vegetables, wheat; poultry, eggs, pork. Major industrial sectors are: machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass blowing, beverages, textiles. Polands exports in 2009 (est.) equaled $134.7 billion down from $178.4 billion in 2008. The export structure by products is as follows: machinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6%. The export structure by destination is: Germany 24.9%, France 6.2%, Italy 6%, UK 5.7%, Czech Republic 5.6%, Russia 5.3% (2008) Polands imports in 2009 reached $141.7 billion (est.), significantly below the $204.4 billion for 2008. The imports structure by products is as follows: machinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 14.8%, minerals, fuels, lubricants, and related materials 9.1%. The imports structure by trading partner is: Germany 28.3%, Russia 9.9%, Italy 6.2%, Netherlands 5.4%, France 4.8%, China 4.5%, Czech Republic 4% (2008) (Source: CIA WorldFactbook, 2010 ) Budget (2009): revenues: $83.68 billion expenditures: $93.47 billion Fiscal policy The direction of fiscal and monetary policies is largely influenced by the European Union and Polands ambition to join the Euro-zone. Adopting of the single currency requires the state to reform the public finance and curb the inflation and budget deficit in line with guidelines of the ERM II. The government had a deadline in mind to join the Euro-zone in 2012 however due to the global financial crisis it has been rumored that the date may be pushed back to 2013-2014. Before this happens Polands constitution needs to be amended and the budget balance has to be brought back to 3% of GDP. (Europa Press releases, 2009) Fight with the fiscal deficit is made difficult by the fact that currently around 66% of the spending is fixed with major portion of the funding going to social security/pension schemes and wages in the public sector. Over the next two years the fiscal deficit is projected to oscillate around 3-4%. On the positive side the government has proposed a tightening of its budget in July 2010 and hopes to benefit from the expected rise in the economic cycle. What may worry potential investors is that the upcoming parliamentary elections will incentivize the government to postpone and budget cuts until it secures a second turn. Another issue is the public debt level. This is especially a hot topic due to the situation in Greece. Polands public debt level has stabilized over past 5 years due to strong economic growth, in 2008 it has slightly exceeded 45% of the GDP and by the end of 2010 should be just below 50% of GDP. While this is still an acceptable level as Maastricht treaty has set the limit at 60%, it should be kept in mind that going beyond 50,55,60% will trigger more strict targets for fiscal restraint. (The Market Oracle, 2009) Monetary policy The main goal behind the monetary policy in Poland is to contain the inflation within the 2.5% +/- 1% target band. The National Bank of Poland has lowered the policy rate from a high of 6% in October 2008 to 3.5% in June 2009 in an attempt to stimulate the economy (Reintje Maasdam, 2009). The gradual appreciation of the Zloty (since March 2010) aids monetary loosening. However, as inflation remains stubbornly high, the NBP is reluctant to cut rates further. Moreover, if the interest-rate differential with the euro zone and Switzerland is narrowed too much, this could push the zloty down again. 2009 and in 2010, the slowing economy will curb wage growth with a disinflationary effect, while the strengthening zloty will also help to keep inflation in check. Inflation is expected to be around 2.5% in 2010. The zloty responded strongly to the risk aversion to Eastern Europe. 3. Analysis of factors influencing the business environment Thanks to largely limited exposure to subprime mortgages, consistent fiscal and monetary policy, large internal market and low level of household debt, Poland was more immune to the turbulence on the world markets than other members of the European Community. Poland was the only state in the EU in 2009 to report a positive economic growth of 1,8% GDP. source: Data from Central Statistical Office  as of  31.05.2010  and Eurostat as of 12.05.2010.   Poland currently is the main recipient of EU cohesion funds, with EU transfers set to reach an annual average of 3.3% of GDP in the coming years (Katarzyna Szulc, 2008). This should allow for major investment in infrastructure including railway, highways and new airports, which will in turn help attract large inward FDI flow. This is all good news for the investors, especially if we keep in mind that there are major investments made due to the preparations for 2012 Euro Cup. Postponing of the adoption of the euro has been seen as a major issue until recently, but now with the events in Greece many people find the polish zloty comforting. Poland has a generally well educated population which allows it to be competitive in more knowledge intensive industries but needs to improve the ease of doing business. It is currently constrained by large bureaucracy and outdated laws governing new business formulation and taxation. Perhaps the legislators need not look as far as Singapore for success stories and benchmarks for best practices but can turn to their Baltic colleagues. Poland Compared to global good practice economy as well as selected economies: Source: The International Bank for Reconstruction and Development / The World Bank Washington, D.C.Doing Business 2010, Poland, 2009 Poland has been successively reducing the gap separating it from the 15 old EU countries. In 2000, Polands GDP per capita was USD 4.473 and in 2009 it rose more than four times to reach USD 18.072. Our country has also recorded a stable increase in consumer expenditure at an average annual rate of 5 percent. source: World Economic Outlook Database, October 2009 4. Recommendations and issues for discussion Poland will most likely remain a good destination for investment over the next couple years. While it may perhaps not yield returns as high as less developed countries such as Kazakhstan it is characterized by a much lower risk profile and transparent legal and political systems. Poland is currently a major recipient of EU funding which helps improve the infrastructure and lower the gap between rural and urban areas. Furthermore the Euro 2012 requires an enormous rise of the hospitality and transportation sectors. The even should help promote Poland around the world and lead to an influx of tourists. Poland also benefits from a rising middle class which is a source of high demand for consumer goods. In addition as there will be further growth in the real estate sector as the ratio between the number of dwellings and inhabitants is below EU average. These trends should be strengthened by the planned reductions in the personal income tax.

Thursday, September 19, 2019

Hate Groups Essay -- essays research papers

Hate Groups   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In today’s society where differences between people are magnified and everyone is discussing diversity, tensions between different groups are remarkably high. The extreme of this tension is brought out in hate groups. Hate groups play off of the stereotypes of specific peoples. They use these generalities in their relentless and often violent persecution of those different from themselves.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  There are many groups that practice in such ways, most of them preaching white supremacy. The main goal of these groups is the advancement of the white race by the segregation of other cultures from society. The Ku Klux Klan (KKK) is probably the best known of these groups. They have been around since the Reconstruction era following the Civil War. The KKK was set up to build an all white society based on Christian beliefs. They claim that they are not the enemy of non-white, non-Christian people. They believe that all races would benefit from separation from each other because everyone would work better if they are surrounded by their own kind. The KKK states â€Å"Our purpose is to unite, organize, and educate the white Aryan masses world wide to the dangers that face our race, culture, and Christian civilization† (www.kkkk.net). They also claim that they don’t tolerate people of immoral character in their society such as drug users and dealers, thieves, or c...

Wednesday, September 18, 2019

The Barkley Marathons :: Description Place Essays

I. Course Description The Barkley Marathons are run in the Frozen Head State Park and Natural Area near Oak Ridge in Tennessee. The park is bordered by two prisons and a coal mine and is thirty five minutes away from closest the city. The course consists of a twenty mile loop, which for the most part traces the border of the park. The actual length of the course is an issue of large debate however. The twenty mile figure was derived by the race director from a topographic map. Most that have run the loop feel that it is longer, since the distance associated with elevation change and winding trails isn't taken into account. Some feel that the loop could be as long as twenty six miles. At the other end of the argument is the distance that was derived from a survey crew in who measured the park to make a new map in 1993. The distances they got for many portions of the course were actually shorter than Gary Cantrell had listed them to be. On any account the distance assumes that the runner does not get lost, which is a rarity at the Barkley. The course is run on a variety of surfaces, none of which come close to ideal . Around 10% is run on rough dirt roads while 10% is run on old dirt roads which are now overgrown with grass. Approximately 20% is run on rough trails with 40% being on old abandoned trails which are said to be easily mistaken for the deer trails that are actually better. The remaining 20% is run on no trails at all but is actually bushwhacking through the forest. To add to the difficulty of the trails is the extreme elevation changes. The re are ironically enough thirteen climbs which result in more than 10,000 feet of climb per loop. This is obviously accompanied by an equal amount of descent. One runner described it as climbing 100 floors of stairs in your first mile, going back down on second mile and continuing this for twenty miles. The course amasses an average grade of over 20% and between 50 and near 100 percent grade on the abandoned trails and bushwhacking sections. The grade is the reason that the trails have been abandoned or not built in the first pace. Each climb bears a unique name which in many cases gives a good idea of their nature.

Tuesday, September 17, 2019

Bram Stoker`s Dracula

Bram Stoker’s celebrated novel Dracula (1897) advocates love and faith as the greatest of life’s virtues; however, the quest for these values and virtues is made through a labyrinth of sexual and misogynistic experiences and events which serve to enhance the moral ambiguities of Stoker’s Gothic masterpiece. In the book, when values of faith and chastity are abandoned, the searing social critique of the relaxation of sexual mores shows us a clear picture of punishment.Stoker portrayed sexual wantonness as a form of self-destruction: the catalyst of this moral underpinning is when Lucy remarks, â€Å"Why can’t they let a girl marry three men, or as many as want her, and save all this trouble? But this is heresy, and I must not say it† (57). A desire to see the destruction of Lucy is obviously seen as Dracula in a beastly form attacks the â€Å"mother form† of Lucy. This clearly reflects Stoker’s anti-maternal attitude when early in the n ovel, Dracula feeds a baby to his three brides at the castle (43).In the novel, the mother was torn apart by a pack of wolves under Dracula’s command (48) as a callous woman portrayed by Lucy is read as â€Å"she had clutched strenuously to her breast, growling over it as a dog growls over a bone† (Stoker 157-158). Plainly he intends to see Lucy in an animalistic level as an â€Å"old-blooded† and â€Å"callous† and she, like the other vampires, has virtually no love in her. The women in the novel actually served like whores starving for true affection (Stoker, 43).In this way, Stoker extols essentially masculine and Patriarchal biases. John Allen Stevenson’s assertion that â€Å"interracial sexual competition,† comprises a central theme in the novel’s sexual expressions, suggests that Dracula's predatory instincts are Bram Stoker`s Dracula Page -2- motivated by â€Å"an omnivorous appetite for difference, for novelty† (Stevens on, 139).Dracula himself represents a monstrosity, an â€Å"other† who threatens the normalcy of established, socially acceptable sexuality: this extension of chauvinism is deeply intensified by the sexual connotations: Lucy and Mina experience sexuality that is â€Å"released in the wrong way, by a foreigner . . . who has achieved what the men fear they may be unable to accomplish† (Stevenson, 146). The threatening aspects of Dracula’s sexuality are myriad.In the â€Å"baptism of blood† scene, where Dracula forces Mina to drink from him, â€Å"What is going on? Fellatio? Lactation? It seems the vampire is sexually capable of everything† (Stevenson, 146). The â€Å"other† distorts common perceptions of the nature of sexuality, foremost among these perceptions is the assignation of gender roles; Dracula, however, frustrates established concepts of gender, stimulating fear— fear of â€Å"vampire sexuality, a phenomenon in which ‘ our' gender roles interpenetrate in a complicated way† (Stevenson, 146).Men are subjected to â€Å"feminization† when they are pierced by the vampire’s fangs, wanton women devour babies rather than nurturing them substituting a masculine aggression for feminine tenderness. Thus liberated, women become too sexual aggressors, taking on traditionally masculine roles. â€Å"The famous scene in which the book's hero, Jonathan Harker, is seduced by three vampirettes – only to have the count interrupt the ersatz orgy with the cry, â€Å"This man belongs to me! † – dramatizes Victorian men's fear of sexually aggressive women as well as their abysmal urge for manly love.† (Roberts) Thus, Dracula’s sexual crime are not specific to a single act of depravity, but a range of depravities wherein wanton female sexuality is viewed as both the instigating principle and the Bram Stoker`s Dracula Page -3- end-result of the ensuing predation. †Å"His crime is not the hoarding of incest but a sexual threat, a sin we can term excessive exogamy† (Stevenson, 139).Contemporary interpretations of Stoker’s sexual themes as represented in Dracula have ranged from strictly Freudian views to complex explications involving symbolism, myth and even politics and economics. One homogenizing factor for most of these interpretations is an acceptance that the novels deals with repressed aspects of sexuality and sexual desire and that these repressions emerge primarily from patriarchal and masculine forms of oppression. The association of the products of imagination a sense of the rational hero that is often romanticized in literary piece however portrayed in horror as the sublime good.The element of suspense being a temptation for all viewers gives out the tendency to fascinate the development of the plot that affirms the patriarchal social order. Clover has also associated horror as a struggle for recognition of all that soci ety represses. Further she has equated that repression of female sexuality and other forms of bisexuality and homosexuality has ceased to continue in the tradition of new films that altered the role and characterized the feminine heroine and authority that contemporary horror upholds as a an acceptable critique of male authority.Neale (1980) and Creed (1990) on the basis of their own contradictory evidenced has arrived at a conclusion that the horror film genre depicts a certain patriarchal fear of the female sexuality where men are often the villainous monsters and women are the primary object of its actions. Neale maintained that women’s sexuality renders them desirable—but also threatening—to men, which constitutes the real problem that the horror film exists to explore.â€Å"Stoker's realization that his mother was indeed a sexual being who belonged to his father finds an outlet in his fiction when he intermingles Oedipal conflicts with sibling rivalry, pat ricide and Bram Stoker`s Dracula Page -4 infanticide,† she writes. She also suggests that Stoker's fascination with blood may flow from his mother's tales of a cholera epidemic (survivors fended off starvation by drinking blood from the family cow) or even a traumatic glimpse of afterbirth (he was one of seven children).† (Roberts) Thus, the most terrifying aspect of the novel is not the vampire’s lust for blood— but lust itself— as unleashed in wild-women who no longer adhere to the chauvinistic restraints placed on their sexuality: â€Å"While Stoker's novel, Dracula, (2) portrays Mina Harker as a strong-minded but conventional Victorian woman, and as Dracula's victim, Francis Ford Coppola's film, Brain Stoker's Dracula, (3) reads between the lines of the novel and creates a Mina Harker who escapes the restraints of Victorian society through her relationship with the vampire.† (Harbin)- Furthering the threat to conventional mores is the fact that Dracula’s victims are willing participants in their own deviant behaviour. â€Å"Dracula tells Jonathan Harker to â€Å"enter freely and of your own will† (Stoker 22) and â€Å"In folklore, vampires often require complicity from their prey.Just as Jonathan cannot be coerced, but must ‘enter freely,' no vampire can come into a home uninvited† (Harbin) Thus, Stoker leaves no doubt that the will to challenge the conventional mores of society is not impressed wholly from the â€Å"outsider† but is inherent in the hearts of many – who are given provocation and opportunity by the vampire — but the initial will toward deviance remains their own. Creed in her study postulates that where the monster is a maternal figure who threatens to devour males, this horror narrates the patriarchal fear of the mother.Jancovich (1994) explains that the monster serves to punish the erring females where the women who agree with the male superiority sur vive. Further as a psychological lambaste against the Oedipus complex in the male child, the female monster is depicted to separate and repress the desires of the male child from Bram Stoker`s Dracula Page -5- his mother and thereby associate the positions of mastery and dominance associated with masculinity.Despite Neale’s and Creed’s differences, Jancovich and other critics supported claims that neither is an expression of dominant or subordinate groups but rather a site of struggle between the two genders. Thus, in the interest of culture, groups challenge other groups and attempts to incorporate them to answer certain interests and aspirations within terms that do not challenge their own.Where there is existing contradiction between one another in an unfixed structure, these concerns are forever addressed and develops within a certain period often presented in the dialogues and struggle contained in films to give out signs of their dynamism that is often addressed to a specific vulnerable audience. Horror novels (and films) are often used to suggest the different positions of the differing sentiments of these groups to generate responses from its audience based on the assumption that certain representations have certain effects.Horror novels like Dracula which have evolved through certain periods will concentrate as the basis of this analysis that discusses the certain views of certain gender groups in particular. Individualism and specifically individualism which threatens conventional perspectives about sexuality and gender roles and the distribution of power between the genders is portrayed in Dracula as the most ominous threat to established order; to depart from the accepted ways may bring the (momentary) illusion of freedom and strength; however, in the long run, deviation from the prescribed order leads to chaos and ruin.Because Dracula seeks to transform rather than merely influence others, his will toward â€Å"homogenous† ind ividualism results in an eerie â€Å"neither-or† result for his victims who, once bitten (initiated), become ostracised from society only to occupy another hierarchical and Bram Stoker`s Dracula Page -6-limiting society, one where the cohesive and nurturing aspects of traditional conformity are replaced by insatiable desires for blood and power, where one’s instincts are turned away from liberation toward the initiation of others into the restrictive world of the undead. The punishment for turning away from the established order of society is to see one’s very soul taken, one’s autonomy subverted, and one’s sexuality perverted beyond measure.Stoker’s conventional interpretation of morality reaches for a panacea to Dracula’s malefic influences which is as as socially conventional as his descriptions of degeneracy and depravity, for it is the social collective which is capable of defying and ultimately defeating Dracula, not an individu al, but a group of individuals working together: Against Dracula's individualism, Van Helsing is able to muster enough information and people to destroy the count.Van Helsing points to the greatest weapon that they have in their fight against Dracula when he states, â€Å"We have on our side power of combination–a power denied to the vampire kind . . . † (244). Every weapon that Van Helsing and his group use against Dracula is tied to the idea and power of combination. Shared information, knowledge, strength, and financial resources enable them to overcome Dracula. (Gutjahr 38)Following through on the integrated themes of patriarchal power and order, Stoker concludes his novel by returning to the conventional disposition of society: when sexuality (and particularly feminine sexuality) is allowed to manifest without restraint, the result is a breakdown in the social order which results in a breakdown of the individual who depends on the ordered structures of society to defend them against the ever-present malefic influence of deviation or surrender to one’s animalistic nature.The misogynystic thrust of Stoker’s theme is clear: that women comprise not only the greatest threat to the sanctity of established social mores, but that they are also the reason such social mores have been concocted. They are also the most easily led astray from these mores and Bram Stoker`s Dracula Page -7- the result of their deviation is the most profound.Stoker, preoccupied with establishing a credible villainy for his antagonist relied upon the most plebien and well-established social stereotypes of his time regarding women and women’s sexuality. Conclusion In analysis, the female characters in Stoker’s Dracula reflect a role of minor non-importance and dependence to the male gender that later on evolves into an apparent attempt to endorse the evil results of female power. Tohill and Thomas (1994) adds that the literary background of the hor ror film genre originated with an attempt to deal with the dark subconscious confronting fiend, aware of the dangers that implicates the society.Yet, the development of horror films contributes to the exploration of victimization and in particular men’s perception of the woman in the society. In the70’s and 80’s, Jancovich has stated that women were punished for being liberated or sexual because the era of free love and the feminist movement were so fresh in the minds of the people. It was now far enough away from these times that society could all accept and move on rather than judge women. The period was fraught more women being admitted into all male colleges for the first time and in many colleges, females made up the majority of the stud culture.Significantly, the history of feminism has sought to study a new understanding and the relations of sexes. Contemporary novels and films have started portraying the acceptability of feminine power and acceptability that horror films likely aims to disintegrate. As Wood and Lippe would have it, there is no attempt to foil masculinity at all and that some films are used in an effort to masquerade pornography in horrific acts of rape that prevail the ideology of misogyny or theBram Stoker`s Dracula Page -8- hatred of the female specie. In older horror films, the feminine depiction is that of incompetent however contemporary films have discussed a more emotional motivation grounded on power relations between masculine and feminine. A character role that changes over time has repressed sexual energies and is apparently linked to the sexual revolution period where the horrific representations of society’s fears have been confirmed.Seemingly it is safe to conclude that the critic’s summations of the period is often characterized by the character roles portrayed in horror novels and films and the director’s own perceptions of roles in the interest of its viewers. Stoker’s D racula preserves none of the modern conceptions of individuality within gender groups but regards them as depravities from which each member of society seeks protection within societies laws, customs, and power-structures.Though Stoker’s blatant prejudices against women, against free-sexual expression, and against individualism are powerful thematic aspects of Dracula, the novel as a whole exceeds these limiting factors by reliance on perennially powerful archetypes, as well as being left wide-open for manifold interpretations, including such interpretations which would attempt to refute the aforementioned issues of chauvinism and misogyny.Because of the novels’ inherent brilliance and innovation, it is likely that â€Å"Stoker always will be of interest to the world. Unless, alas, we psychoanalyze the poor devil to death. Free to be titillated by the eroticism of Dracula we moderns have turned the vampire into the vamp. Exposing illicit pleasures to the light of day drives a stake through the heart of desire. † (Roberts) That acknowledged, it is also likely that Stoker;’s Dracula will continue to be critically evaluated in light of its dominant themes of chauvinism and misogygny.Works Cited Stevenson John Allen. A Vampire in the Mirror: The Sexuality of Dracula, Vol. 103, No. 2 (Mar. , 1988), pp. 139-149 Gutjahr, Paul. â€Å"Stoker's Dracula. † Explicator 52. 1 (1993): 36-38. Harbin, Leigh Joyce. â€Å"A Dangerous Woman and a Man's Brain: Mina Harker, Clarice Starling and the Empowerment of the Gothic Heroine in Novel and Film. † West Virginia University Philological Papers (2002): 30+. Roberts, Rex.â€Å"Sex and Death in Transylvania. † Insight on the News 3 June 1996: 32+. Jancovich, Mark . American Horror from 1951 to the Present. United Kingdom :Keele University,1994. Clover, Carol J. Men, Women, and Chain Saws: Gender in the Modern Horror Film . NJ: Princeton University, 1992. Stephen Neale. Genre. British Film Institute, 1980. 7-17. Creed, Barbara. The Monstrous Feminine: Film, Feminism, Psychoanalysis. New York and London: Routledge, 1990.