Journal review Essay Example | Topics and Well Written Essays - 750 words

Journal review - Essay Example There are various clinical manifestations that are similar in appendicitis and some other diseases such as acute gastroenteritis, pyelonephritis, ectopic pregnancy, and pelvic inflammatory disease etc. There is no diagnostic test for the confirmation of appendicitis but surgeon’s experience, the patient’s past record or the physical assessment help in the diagnosis. One of the major techniques used for the diagnosis of appendicitis is abdominal computed tomography scan; other techniques include ultra sound, X-ray of the kidneys, ureters, and bladder. If the appendicitis is not diagnosed by any of the technique the surgeon must diagnose it by the clinical manifestations made by the patient. If it is not diagnosed properly it may lead to life threatening effects. A patient with the risk of appendicitis must have proper nursing facilities; they should be kept in health care centers until they recover, their treatment should be looked upon on strictly i.e. antibiotic therap y in order to reduce any inflammation or septicemia. If the general practitioner thinks inflammation has occured in the appendix he must use some special techniques i.e. laparoscopically or by laparotomy in order to minimize the chances of further perforation. In a typical examination it is observed that 80% of the patients having acute abdominal pain experience appendicitis and only 20% of patients that undergo appendectomy remain safe from these pathological conditions. If this infection of appendix is not diagnosed properly it may cause perforation of appendix. It is also observed in 80% of the patients that perforation usually occurs after 48 hours of appendicitis. Untreated appendicitis may also become life threatening. Appendicitis should be properly cured or else it may lead to acute inflammation. Proper treatment should be given to patients

Town and Milton Fl. Essay Example for Free

Town and Milton Fl. Essay Physical system Human system Convince someone to move to a U. S. city of your choice, by describing the location using terms from the lesson. Be sure to include the name of the city and state you are writing about and make your response at least one paragraph in length. Part-1 1. Plymouth, England, to Plymouth, Massachusetts-3,349 miles 2. St. Louis to Ft. Clatsop near the Pacific Ocean-1,400 miles 3. Omaha to San Francisco-1,430 miles Part-2 If I had to describe the town I live in I would describe it as a little ole farm town that neighbors with a more city oriented town to the West, then two more farm towns to the North of them, and one to the East, and finally some more city oriented/beach style areas to the South. The relative location for Milton Fl. would have to be Baker Fl. they share the same type of features and style of people. Milton Fl. s a place of farm land, rivers, stream, creeks, and little restaurants in the city limits. Milton and its surrounding towns and cities share a common region of the language, characteristics, climate, and culture. Our human system is filled with all sorts of people with different characteristics and they all work in a unity to supply, fix, and protect our area. They would be trades workers like roofers, mechanics, drivers, farmers. People like our firemen and women, police, and emergency services. Part-3 I think if you are a city person then Milton is not the area for you but if you like the country with rivers in your back yard and a gator on the other bank than this is the area for you. Milton is a fun filled city but it is also filled with hard working families and animals as well. Overall Milton will be my resting place for new comers just spend some time on our river banks and farm fields and you will not want to leave.

Analysis of Cement Industry in India

Analysis of Cement Industry in India INTRODUCTION People invest in stocks to make their money grow. And to help investors identify the suitable and the appropriate way to invest, there are various modes of analysis. A number of approaches have been developed over time. One most important analytical approach among them is EIC analysis (E for economy, I for industry and C for company). EIC analysis is also sometimes referred to as Fundamental Analysis or the Top Down approach to Fundamental analysis. . In this approach, the investment decisions are taken on the basis of the strength of the economy, industry and company. The major objective of undergoing a project on EIC analysis or top down approach to fundamental analysis is to answer the question as What to buy. At economy level, fundamental analysis will focus on the economic indicators of the country to assess the present and future growth of the economy. Major economic indicators include the GDP growth rate, inflation, imports, exports, monetary and fiscal policies, foreign exchange reserves, IIP, etc. The basic assumption is that if the economy grows, companies would do well. At the industry level, apart from economy other factors like government attitude, entry barriers, competition level, threat of potential entrants, substitute products, cost structure, foreign entrants, also affect the way an industry evolves in time and hence affects the stock prices of companies in that particular industry. This industry analysis will also include Porters five force model (wherever applicable) which will give a better approach to it. The next task to be done in the project is to identify and analyze two companies i.e. ACC and Ultratech cement Ltd. For that a number of factors will be taken into consideration, say, the companys SWOT analysis and the financials of the company. Thus, on the foundation of some major factors, this EIC analysis will analyze the overall economy, industry and company which will give a clear picture and practical approach of stock identification. The second part of the project is Technical analysis which is a method of evaluating securities by analyzing the statistics generated by market activity, such as past prices and volume. Technical analysis looks at the price movement of a security and uses this data to predict its future price movements. Thus a technical analyst approaches a security from the charts. 2. ECONOMIC ANALYSIS EIC analysis is not just about balance-sheets or analysis of a companys financial performance. It is also crucial to look at the broader picture- the macro-economic factors that may directly or indirectly affect the economy, industry and stocks of the company. Economic Analysis is the First Step in a three step security analysis process. An economic slowdown has implications for the earnings and margins of companies. At economy level, fundamental analysis will focus on the economic indicators of the country to assess the present and future growth of the economy. It aims at analyzing the overall Economy and identifying the general direction, in which the economy is heading. Although there are many macroeconomic indicators that are relevant to markets, given below are some must-track-indicators GROSS DOMESTIC PRODUCT The GDP (Gross Domestic Product) growth rate is the most important macroeconomic indicator of a nations economic health. If the GDP is growing, so will economy, businesses, jobs and personal income. If GDP is slowing down, then businesses will hold off investing in new investments and hiring new employees, waiting to see if the economy will improve. If the GDP growth rate actually turns negative, then it means the economy is in a recession. Thus, on the basis of the GDP data, we can analyze the economy and interpret the future of Indias economy up to some extent. Given below is the data of real GDP growth rate from the year 2006 till the year 2010. In the year 2008, Indias GDP growing at 7.9%, was the lowest in three years and was indicative of slowdown in Indian economy. Recorded for the months of April-June 2008, Indias economic growth rate was 7.9% which was less than what it was at the same time last year. The economy had expanded by 7.6 per cent in the July to September quarter of 2008. Indias economic growth slowed to just 5.3 per cent in the last three months of 2008, its slowest pace of expansion in the last six years, as the global financial crisis took its toll on local manufacturers and farm output fell. The International Monetary Fund has forecast Indias economy to grow at 6.75 percent in 2009-10 and 8 percent in 2011-12 on the back of an expected pick-up in private consumption and investment. Indian economy grew 8.6 percent from January to March of 2010, keeping in line with governmental projections. During the quarter, mining and quarrying, manufacturing and trade, hotel, transport and communication saw year-on-year growth of 14 percent, 16.3 percent and 12.4 percent. The country strives to attain 8.5 percent growth of GDP in fiscal year 2010-2011 with the aim of realizing 9 percent growth in the following year. INFLATION Inflation is no stranger to the Indian economy. It is an increase in the price of a basket of goods and services that is representative of the economy as a whole. Inflation is an upward movement in the average level of prices. Because inflation is a rise in the general level of prices, it is intrinsically linked to money. It denotes too much money chasing too few goods. High rates of inflation can have critical effects on economy. It is characterized by depreciation in the value of money. Economists attribute a number of factors to inflation that can be broadly categorized under supply side factors like increased production costs and demand side factors like excessive demand created by tax cuts, cheaper borrowings etc. High rates of inflation can have serious consequences for the economy in general. Therefore, for governments all over the world, reducing movements of prices to a minimum is seen as a primary economic objective. The above effects can be exemplified by taking the current scenario of the Indian economy. Annual Inflation in India in May 2008 was 7.4% which was the highest since November 2004. As a result Industrial production growth declined to 8.6 % in February 2008 as compared to 11 % in February 2007. Thus, high inflationary rate is harmful because the value of the money falls, cost of living rises, reduces the value of savings, discourages future investment and savings and slows down the overall growth of the economy. The Indias economic story can be traced by seeing the general trend of inflation rate in the year 2008. In the Year 2008, RBI had revised its key rates several times to maintain the liquidity in the banking system. The lower interest rates will allow the banks to cut their benchmark lending rates, though the deposits will also see the reduction in interest rates. Lower commodity prices and crude oil prices is driving the Inflation on a downside. This will be wonderful as the lower inflation means, lower cost of credit, which drives the economy on the upside. For 2009, Indian inflation stood at 11.49% Y-o-Y. On March 19, 2010, the Reserve Bank of India raised its benchmark reverse repurchase rate to 3.5% percent, after this rate touched record lows of 3.25%. The repurchase rate was raised to 5% from 4.75% as well, in an attempt to curb Indian inflation. The inflation rate in India was 13.73 percent in June of 2010. This is because of the prices of pulses were up by 34.40 per cent from a year ago, milk by 21.12 per cent, fruits by 13.67 per cent, cereals by 5.41 per cent, rice by 6.76 per cent and wheat by 3.97 per cent. On 19th august, cheaper vegetables pull down inflation to 10.35%. UNEMPLOYMENT RATE India has been facing huge problem of unemployment and underemployment from years. Unemployment is much higher in urban areas than in rural areas and too women face the unemployment more. Various problems like enormous increase in the population, age, vocational unfitness and physical disabilities, technological and economic factors have caused this problem. Other problems also contribute towards unemployment. Several socio-economic problems like poverty, malnutrition, antisocial and criminal activities, drug and substance abuse, etc. are the result of ill effects of unemployment. Underemployment, Disguised unemployment, regional imbalances in the unemployment scenario in India are another important factor. The decline in job creation in agriculture has been identified as one of the important reasons behind the increasing unemployment in India. But players like TCS, BSNL WIPRO have announced their plan to hire more and more people in 2010. IMPORTS Indias merchandise imports witnessed a growth of 44.9 per cent during April-September 2008, and thereafter it showed a deceleration, reflecting the slowdown in industrial activities due to global economic crisis. The overall imports during April 2008-January 2009 at US$ 241.5 billion, recorded a lower growth of 24.4 per cent than 30.9 per cent recorded a year ago. POL imports during April 2008-January 2009 at US$ 82.1 billion, however, maintained broadly a similar growth of 30.6 per cent (31.9 per cent a year ago) reflecting the high pace of crude oil prices. Imports during January 2009 at US$ 18.5 billion also declined by 18.2 per cent for the first time during the current year 2008-09 so far, as against an increase of 64.0 per cent in January 2008, mainly due to sharp decline in oil imports. The overall imports during April 2008-January 2009 at US$ 241.5 billion, showed a growth of 24.4 per cent lower than that registered during the comparable period of previous year (31.0 per cent ) on account of deceleration in both oil and non-oil imports. Indias imports during March, 2010 were valued at US $ 27733 million (Rs.126175  Ãƒâ€šÃ‚  crore) representing a growth of   67.1 per cent in dollar terms (48.4   per cent in Rupee terms)   over the level of imports valued at US $ 16597 million ( Rs. 85022 crore) in March, 2009. Oil imports during March, 2010 were valued at US $ 7730 million which was 85.2   per cent higher than oil imports valued at US $   4175 million in the corresponding period last year.  Ãƒâ€šÃ‚  Non-oil imports during March, 2010 were estimated at US $ 20003 million which was 61.0 per cent higher than non-oil imports of US $ 12422 million in March, 2009. EXPORTS Indias merchandise exports, after recording a steady growth of 35.3 per cent during April-August 2008, declined in all the subsequent months so far, during the current year, viz., (-12.1 per cent in October), (-9.9 per cent in November), (-1.1 per cent in December) and (-15.9 per cent in January 2009) on account of global financial turmoil and economic slowdown. With the result, the overall exports during April 2008-January 2009 at US$143 billion increased by 12.4 per cent as compared with 24.1 per cent during the corresponding period of the previous year. Exports of labor intensive sectors such as, textiles, gems and jewelers, agricultural and allied products, ores and minerals, leather products have registered decelerated growth as these sectors have been adversely affected under the impact of demand recession, mainly in the developed regions, viz., the US and the EU. Exports in2009- 2010 is 90573 crore as compared to 66169 crore in 2008-09, hence showing a growth of 36.9%. EXCHANGE RATE Since the international business environment has no universal medium of exchange, exchange rates is a necessity for international trade. Presently, both translation and conversion of foreign currency involve the use of exchange rates. Therefore, in order to gain a more through understanding of foreign currency translation, it is important to examine the nature of exchange rates and the critical role they play in the international economy. The recent Asian currency crisis demonstrates how critically exchange rates impact economic developments. Economic factors affecting exchange rates include hedging activities, interest rates, inflationary pressures, trade imbalances, and market activities. The political factors influencing exchange rates include the established monetary policy along with government action or inaction on items such as the money supply, inflation, taxes, and deficit financing. Psychological factors also influence exchange rates. These factors include market anticipation, speculative pressures, and future expectations. MONETARY AND FISCAL POLICY Fiscal Policy Riding on the path of fiscal consolidation, in February 2008, the world economy was hit by three unprecedented crises first, the petroleum price rise; second, rise in prices of other commodities; and third, the breakdown of the financial system. The combined effect of these crises of these orders is bound to affect emerging market economies and India was no exception. The first two crises resulted in serious inflationary pressure in the first half of 2008-09. Series of fiscal measures both on tax revenue and expenditure side were undertaken with the objective of easing supply side constraints. These measures were supplemented by monetary initiatives through policy rate changes by the Reserve Bank of India and contributed to the softening of domestic prices. Additional budgetary resources of Rs.1, 50,320 crore was provided as part of stimulus package and various committed liabilities of Government including rising subsidy requirement, implementation of Central Sixth Pay Commission recommendations and Agriculture Debt Waiver and Debt Relief Scheme for Farmers contributed to the higher fiscal deficit of 6 per cent of GDP in RE 2008-09 as compared to 2.5 per cent of GDP in B.E.2008-09. The measures taken by Government to counter the effects of the global meltdown on the Indian economy, have resulted in a short fall in revenues and substantial increases in government expenditures, leading to a temporary deviation from the fiscal consolidation path mandated under the FRBM Act during 2008-09 and 2009-2010. The fiscal policy for the year 2009-2010 is continued to be guided by the objectives of keeping the economy on the higher growth trajectory amidst global slowdown by creating demand through increased public expenditure in identified sectors. Monetary policy India has rapidly integrated into the global system and has linkages with the rest of the world not just through trade channels, but also through two-way movements of capital and finance. As an integral part of a globalizing world, India cannot be expected to remain immune to a global crisis and in responding to the crisis, India has to share the uncertainty on the way forward just like the rest of the world. Both the Government and the Reserve Bank have acted to protect the economy from the adverse impact of the crisis since mid-September 2008. While the Government has announced three major fiscal stimulus packages, the endeavor of the Reserve Bank has been to provide ample rupee liquidity, ensure comfortable dollar liquidity and maintain a monetary policy environment conducive for the continued flow of credit to productive sectors. Towards this endeavor, the Reserve Bank has adopted both conventional measures such as, for example, reduction of the cash reserve ratio (CRR), as well as unconventional measures such as, for example, the dollar swap facility for banks. To improve the flow of credit to productive sectors at viable costs so as to sustain the growth momentum, the Reserve Bank signaled a lowering of the interest rate structure by significantly reducing both its key policy rates the repo rate and the reverse repo rate.   The statutory liquidity ratio (SLR) has also been reduced by one percentage point releasing funds to banks for credit deployment. In the space of just one quarter, the repo rate has been reduced from 9.0 per cent to 5.5 per cent and the reverse repo rate from 6.0 per cent to 4.0 per cent, thereby bringing down both of them to historically lowest levels. The Reserve Bank of India lowered its benchmark repurchase rate to 7.5 percent from 8 percent. At the same time the central bank also reduced the cash reserve ratio to 5.5 percent from 6.5 percent, and cut the amount of money lenders are required to keep in government bonds to 24 percent from 25 percent. But the measures taken by government and the Reserve Bank will continue to maintain vigil, monitor domestic and global developments, and restore the economy to its potential growth path. INDUSTRY ANALYSIS INDUSTRY SNAPSHOT The Indian Cement Industry with a capacity of around 125 Million Ton Per Annum (MTPA) is the fourth largest in the world after China, Japan and USA. However, the per capita consumption in the country is only around 90 kgs as compared to the world average of approx. 250 kgs. The Cement Industry is highly fragmented comprising of more than 50 players operating from more than 125 plants. The Cement Industry is cyclical and capital intensive. Cement is a key infrastructure industry. It has been decontrolled from price and distribution on 1st March, 1989 and delicensed on 25th July, 1991. However, the performance of the industry and prices of cement are monitored regularly. The constraints faced by the industry are reviewed in the Infrastructure Coordination Committee meetings held in the Cabinet Secretariat under the Chairmanship of Secretary (Coordination). Its performance is also reviewed by the Cabinet Committee on Infrastructure. The Cement Industry witnessed a slow start in the FY 2005 due to change in the Government at the centre; slow down in infrastructure spending during the transition and adversities of drought like conditions in the South and West. The subsequent regaining of momentum enabled the industry clock a dispatch growth of 7% for the full year. The Cement sector appears to be on a sustainable growth path, given the strong outlook for the housing sector and the renewed momentum in infrastructure spending. The Cement sector appears to be on a sustainable growth path, given the robust outlook in Government infrastructure spending. It is expected that the industry would grow at an average 8% annual growth in the long run. The industry has witnessed consolidation in the recent years which is likely to increase with the entry of global players. Cement being an energy intensive industry; power and coal are the major cost contributors. Logistics also form a significant portion of the cost. The looming coal shortage will not only affect the cost, but also the quality of coal. Cement prices are expected to firm up across regions in the medium term on account of a better demand- supply balance and greater consolidation. The induction of advanced technology has helped the industry immensely to conserve energy and fuel and to save materials substantially. India is also producing different varieties of cement like Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Blast Furnace Slag Cement (PBFS), Oil Well Cement, Rapid Hardening Portland Cement, Sulphate Resisting Portland Cement, White Cement etc. GROWTH PROSPECT The one Indian industry which is set for growth over the coming years is the Cement Industry. The industry is heavily dependent on 3 sectors; coal, power and transport. Energy and freight are the two major cost components. Over the last few years, while the proportion of energy cost has increased marginally, freight costs have declined. Increasing government expenditure on infrastructure sector and rising demand for commercial and residential real estate development has resulted in higher demand for cement in the country. According to a report by the ICRA Industry Monitor, the installed cement capacity is expected to increase to 241 million tones per annum by the end of 2010. It also expects that driven by higher domestic demand and increasing utilization, Indias cement industry may record an annual growth of 10% over the coming years. Taking cue of the global economic slowdown which was affecting cement companies in India last year, Governments initiative to re-impose counter-veiling duty and special counter-veiling duty this year will help provide a level playing field for domestic players. Moreover, it also appointed a coal regulator to facilitate timely and proper allocation of coal blocks to the important sectors like cement. As coal is one of the prime raw material used in cement production, this seems to be a positive move. Growth potential of cement industry can be judged by the fact that the per capita cement consumption (156 kg) in India is still well below the global average consumption (396 kg). This gap can be expected to be covered in the coming years. Besides, housing sector accounts for almost 50% of the total cement consumption in the country and the large young population will ensure that the demand for infrastructure stays put. The rising cost of energy, transportation raw material continues to pressure the industry as a whole. To sustain profitability, companies will have to explore alternate source of energy while at the same time enhance their operational efficiency. Industry experts opine that the cement industries should now increase their focus on investing adequately in developing human resources that will be capable enough to address the professional needs of construction industry including advanced technologies and construction practices, project management construction and litigation. We expect that the cement production and consumption both will grow substantially over the years. PORTERS FIVE FORCES MODEL Rivalry among Competing Firms Inter firm rivalry is very high in this sector. Reasons for this are manly large number of players in the market, intermittent overcapacity, marginal product differentiation, high storage cost and high exit barriers in the form of huge capital investment. Potential Entry of New Competitors In cement Industry technology and manpower are easily available but still entry of new firms is not that viable. This is because of huge capital investment, broad distribution network and oversupplied market. Potential Development of Substitute Products Only bitumen in road and engineering plastics in building offer some element of competition otherwise no close substitutes are popular in India. Bargaining Power of Suppliers The bargaining power of suppliers of raw materials and intermediate goods is very high. Because of monopolistic control of external cost elements i.e. coal, power, transportation and taxes suppliers are enjoying high bargaining power with the government. Bargaining Power of Consumers Rising share of retail purchase, declining share of bulk purchase by government has taken away the bargaining power of customers. SWOT ANALYSIS Strengths Second largest in terms of capacity- In India there is approximately 124 large and 300 mini plants with installed capacity of 200 million tonnes. Low cost of production- Because of easy availability of raw material and cheap labor. Weakness Demand supply gap, overcapacity- the capacity additions distort the demand supply equilibrium in the industry thus affecting the profitability. Increasing cost of production due to increase in coal prices. High interest rate on housing- increase in interest rate from 7% to 12% has resulted in slowdown in residential property market. Opportunities Increase in infrastructure projects- Infrastructure accounts for 35% of cement consumption in India. And with increase in government focus on infrastructure spending such as roads, highways and airports, the cement demand is likely to grow in future. Growing middle class- There has been a increase in purchasing power of emerging middle class with rise in salary and wages, which results in rising demand for better quality of life that further necessitates infrastructure development and hence increase yhe demand for cement. Technological changes- At present 93% of the total capacity in industry is based on modern and environmental friendly dry process and only 7% is based on old wet and semi dry process technology. The induction of advanced technology has helped the industry immensely to conserve energy and to save materials substantially and hence reduce the cost of production. Threats Excess overcapacity can hurt margins as well as prices. COMPANY ANALYSIS ACC LIMITED Established in 1936, has been a pioneer and trend setter in cement and concrete technology. A prominent overseas presence and figuring on the elite list of consumer super brands of India but most importantly acc has been amongst the first Indian companies to make environment protection as cornerstone of its corporate objectives. The historic merger of ten existing companies has led to the established of acc- melding into a cohesive organization in 1936. It offers the services of ready made concrete and consultancy services. This company is listed by Bombay stock exchange, National stock exchange and in London. During year 2007 company acquired 100% equity stake in Lucky Minmat Private limited for Rs 35 crores and also acquired 43% stake in Shiva Cement Limited. Meanwhile the company divested its entire equity shares in Almatis ACC limited to the Almatis group. The overseas contact with YANBU Cement Company in the kingdom of Saudi Arabia is successfully ongoing relationship from last 28 years and has been renewed up to Feb 28, 2011. The companys various manufacturing units are backed by a central technology support services centre the only one of its kind in the Indian cement industry. ACC has rich experience in mining, being the largest user of limestone. As the largest cement producer in India, it is one of the biggest customers of the domestic coal industry, of Indian Railways, and a considerable user of the countrys road transport network services for inward and outward movement of materials and products. The company has developed comprehensive expansion plans to meet the requirement of its agenda for growth with a view to attain leadership position in the cement industry, for that company made a project for augmentation of clinkering and cement grinding. Also it implements projects for augmenting grinding capacity at Madukkaria by 0.225 MTPA and New Wadi at 0.60 MTPA. Ready mix concrete business has been identified as area of strategic priority. ACC commissioned a Wind Energy Farm in Tamil Nadu to promote clean and green technology. The company foresees substantial scope for growth of this business in India. The company actively promotes the use of alternative fuels and raw materials and offers total solutions for waste management including testing, suggestions for reuse, recycling and co-processing. When we look at the values that are obtained using the DCF and the stock prices we can say that the prices of the companies stock are mispriced to a large extent. The intrinsic values for four consecutive years turned out to be negative which means that the shares are highly over priced. The investments in these stocks are very risky. ULTRATECH CEMENT Ultratech Cement Limited (UltraTech) is India-based one of the largest cement manufacturing company. UltraTech Cement was incorporated as a public limited company on 24th August 2000, as LT Cement Limited a 100% Subsidiary of Larsen Toubro Limited. The name of the Company was changed to UltraTech CemCo Limited with effect from 19th November 2003. The name of the company was again changed to UltraTech Cement Limited with effect from 11th October 2004. UltraTech Cement has an annual capacity of 18.2 million tones. It manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. It also manufactures ready mix concrete (RMC). The company has five integrated plants, six grinding units and three terminals- two in India and one in Sri Lanka. It is the countrys largest exporter of cement clinker. The export marketspan countries around the Indian Ocean, Africa, Europe and the Middle East. The company has an annual cement production capacity of 18.2 million tones. It is a subsidiary of Grasim Industries Ltd. The company operates two subsidiary companies namely, Dakshin Cement Limited and UltraTech Ceylinco (P) Limited. The company is headquartering at Mumbai in India. The company reported revenues of (Rupee) INR 66,643.30 million during the fiscal year ended March 2009, an increase of 16.43% over 2008. The operating profit of the company was INR 13,678.20 million during the fiscal year 2009, a decrease of 9.73% from 2008. The net profit of the company was INR 9,780.60 million during the fiscal year 2009, a decrease of 3.17% from 2008. According to the analysis done by DCF model the value of the share are 1403.89. five year daily data has been taken for the analysis. RISK ANALYSIS A risk analysis involves identifying the most probable threats to an organization and analyzing the related vulnerabilities of the organization to these threats. In quantitative risk analysis, an attempt is made to numerically determine the probabilities of various adverse events and the likely extent of the losses if a particular event takes place. Qualitative risk analysis, which is used more often, does not involve numerical probabilities or predictions of loss. Instead, the qualitative method involves defining the various threats, determining the extent of vulnerabilities and devising countermeasures should an attack occur. NOTE: The values given in the above tables are calculated for the daily data taken for a period of 5 years for both the companies and the BSE Index (1st January 2006 31st January 2010) ANALYSIS: From the values in the average return, variance and standard deviation we can understand that the return in cement industry was negative for an investor who invested his money in those stocks for that particular period. The risk associated with Ultratech company stock is very high as it has very high standard deviation and variance when compared to the other company ACC Cement. The standard deviation and variance of Ultratech stock are greater than that of Index. Risk Analysis: To analyze the risk associated with a stock we have calculated 3 parameters. Beta, Sharpe and Treynor à ¯Ã‚ Ã‚ ¢ (Beta) Co-efficient (A Measure of Systematic Risk): The beta is a measure of systematic risk or Non-diversifiable risk. The beta of a stock measures the sensitivity or volatility of the stock with reference to a broad based market index, e.g. SENSEX in India. Sharpes Measure of Performance: Sharpe Measure measures the risk Premiums of the portfolio (average portfolio return less risk free return) relative to the total amount of risk in the portfolio (standard deviation of the portfolio). It is also called reward-to-variability ratio. The Sharpe ratio tells us whether a portfolios returns  are due to smart investment decisions or a result of excess risk. The higher the Sharpe ratio for a portfolio, the better the portfolio has performed. Treynors Measure of Performance: The Treynor measure is a relative measure of performance for investment managers and measures the return premium per unit of systematic risk (risk that cannot be diversified) as measured by the beta or relative volatility of the portfolio. While a high and positive Treynors Index shows a superior risk-adjusted performance of a fund, a low and negative Treynors Index is an indication of unfavorable performance. It is also called reward-to-volatility ratio. Analysis: Rf: The risk free return taken is a government treasury bill which has a return of 8% per annum. When we compare the movemen

Should Committed Environmentalists Choose to Adopt a Vegan/Vegetarian D

Introduction The environmental impacts of a diet based in animal products is well documented and is the source of much debate. According to a controversial United Nations report entitled Livestock's Long Shadow (2006),â€Å"The livestock sector emerges as one of the top two or three most significant contributors to the most serious environmental problems, at every scale from local to global.† For those committed to reducing their environmental impacts, one solution would be to transfer to a vegetarian or even vegan diet. It is not necessarily ethical to prescribe one way of being for environmentalists all over the world, especially without thinking about differences in cultures. However, most committed environmentalists should adopt a vegetarian or vegan diet, with a few caveats. This is because (1) animal products are an inefficient source of protein in terms of environmental impact, (2) the greenhouse gas emissions from an animal product-based diet is significantly higher than a plant-ba sed diet and (3) animals are part of the environment and their treatment is as important as the treatment of the planet as a whole. Differing views Among Environmentalists Environmentalists take up many causes in their fight to protect nature. Their tactics can involve direct-action, petitions, media stunts and boycotts. Boycotting a company that is involved in unethical behaviour can be very effective and one of the simplest, most direct ways to exercise your consumer power, since most of the world's population is embedded in the capitalist economic system. Three areas that research has shown we contribute most of our greenhouse gas (GHG) emissions is through transportation, home energy and food, all areas in which committed environmentalists are ... ...rent dietary protein choices, American Journal of Clinical Nutrition, vol. 78, p. 664s-668s. Stepaniak J, 2000, Being vegan: living with conscience, conviction, and compassion, Lowell House, Los Angeles. Tukker, A & Jansen, B 2006, ‘Environmental impacts of products – a detailed review of studies’, Journal of Industrial Ecology, vol. 10, no. 3, pp. 159–182. Waller, D, 1997, ‘A vegetarian critique of deep and social ecology’, Ethics and the Environment, vol. 2, no. 2, pp. 187-197. Weber, CL & Matthews, HS 2008, ‘Food-miles and the relative climate impacts of food choices in the United States', Environmental Science & Technology, vol. 42, no. 10, pp. 3508-3513. Wells, T 2005, The world in your kitchen, New Internationalist Publications, Oxford. Yacoubou, J 2011, 'Ecocriticism as vegetarian activism', Vegetarian Journal, vol, 30, No. 2, pp. 12-14.

Patterns of World History Vol 1

â€Å"Humans and Ideas† Some of the most powerful ideas humans developed during early divination of 3000 BCE to 618 CE have been about techniques to improve living. New technological ideas from the invention of the wheel to the hand crank pump have transformed how millions of people live. The way technological ideas have accumulated over time and the effects they have had on society is one of the main themes of world history. Shortly before 3000 BCE, Mesopotamians invented a technological idea which ended in a writing system called cuneiform that increased communication, record keeping, and abstract thought.Through symbols written on wet clay tablets that represented objects and sounds, history could be recorded for the first time. Writing was a major expansion of the conceptual horizon of humankind that reached back to the first flaked stones, ornaments, figurines, and cave paintings in the Paleolithic (Von Sivers 44). Early metallurgists discovered that by adding tin to copp er they were able to make bronze which was much harder than copper and provided a sharper cutting edge which was the start of the Bronze Age (Lecture).By 2800 BCE Sumer entered into what is described as the protoliterate period where scribes would work with pictograms and official seals but there was still no official written language (Lecture). Harappan cities were unique to the 1700’s BCE due to the meticulously planned grid-like design that included a most elaborate urban sewer system for ancient times. Remarkably straight, brick paved streets ran in north/south, east/west axes forming square blocks of public buildings, temples, and markets in convenient locations.Houses had brick-lined indoor wells and primitive toilets emptying into terra-cotta cesspits whose overflow connected to the city’s drains and sewers (Von Sivers 80). Located several miles up the Sabarmati River from the Gulf of Khambat, Lothal was a large, perhaps the chief, of all trading seaports around 1700 BCE. Lothal central structure is an enormous basin, approximately 120 feet long and 70 feet wide. The location of Lothal on the Arabian Sea indicates a link between Harappan cities and trade that would have reached Mesopotamia and possibly Egypt.Lothal was also a famous regional craft center, with micro beads used for decorative craft items and jewelry as its chief product for internal trade and export (Von Sivers 80). Around 1700 BCE, the chariot and composite bow made their entry into the Middle East and eastern Mediterranean region, transforming armies who previously relied solely on foot soldiers. Black smiths mastered the art of iron making and incorporated iron into their chariot armies, in the form of swords, helmets, and protective armor (Von Sivers 53).The Shang Dynasty used the horse to drive chariots, which transformed the Chinese warfare for transportation, which linked disparate regions of China and helped the Shang to expand. It was a featured in art and poetry a nd thus offered a new symbol for artist and poets to work with. It will also link China to nomadic horse people from the north and west (Von Sivers 110). The people in Meroe mined, smelted, and forged iron which they were the first to do so in sub-Saharan Africa. The craft of iron smelting evolved gradually in Hittite Anatolia during several centuries after 1500 BCE.The possible spread of iron-working sills from the Middle East to Africa has not been satisfactorily proved. Iron workers in African villages adapted iron-making to local village circumstances. The production of iron, or greater import was the knowledge f how to forge the bloom-the combination of raw iron and slag- into an iron- carbon allow that was neither too soft nor too brittle (Von Sivers 165). Chariots and bows were introduced to the Shan army between 1300-1200 BCE. Around 1200 BCE, The Olmec crafted figurines, mask of clays, and made figurines from jade and serpentine.The Olmec heads were carved from 18 ton block s of basalt that were quarried 70 miles away from San Lorenzo. Large groups of workers shouldered beams from which the basalt blocks, weighing 18 tons on average, hung in slings. They carried these blocks to the coast and shipped them to San Lorenzo on rafts. There, sculptors fashioned the blocks into fierce-looking, helmeted heads, kneeling or sitting figures, and animal statues (Von Sivers 145). The Lydians are notable for having created in 615 BCE the first minted money in world history, coins made of silver and gold and used in trade (Von Sivers 199).The Achaemenids created an elaborate system of roads known as the royal roads around 550 BCE for communication and transportation of troops and trade. The Persian Empire in particular covered vast amounts of land, from Anatolia to Egypt and Mesopotamia, to modern day Afghanistan. The Persian Empire was both centralized and decentralized. One centralized aspect, as revealed by the roads, was the need to pay taxes and tribute to the s hahinshah, the emperor. Even more revealing is the style of the Persian roads, with distance markers at regular intervals, inns and depots indicating the sophistication of the Persian infrastructure.The centralization of the empire is further revealed by the regulation that local parts of the road had to be maintained by the local governors, appointed by the emperor; thus even to the local level the emperor had influe nce (Von Sivers 200). The Achaemenids achieved their conquests with the help of lightly armed; highly mobile mounted archers as well as heavily armored, slow-moving cataphracts-horsemen with protective armor consisting of iron scales sewn on leather shirts. Quilts and iron scales protected the horses. The archers fought with composite bows and the cataphracts, with 5-foot long, iron-tipped lances for thrusting.Infantry soldiers armed with bows, arrows, shields, and javelins provided support for the cavalry, complementing its tank-like thrust (Von Sivers 200). The Well- Field System was an attempt to untangle the more confusing aspects of land arrangement around 500 BCE. The Zhou was the first among many dynasties to attempt to impose a uniform system of land tenure in China. Each square Li(one li is about one-third of a mile), consisting of 900 mou(each mou is approximately one-sixth of an acre) was divided into a grid of nine plots.Individual families would each work one of the eight outside plots while the middle one would be farmed in common for the taxes and rents owed the landowner or local officials (Von Sivers 117). In the 5th Century BCE, sculptors began to explore physical movement, emotion, and individual character by Greek Painting and Sculpture. Greek vase paintings and sculptures achieved a remarkable wide range, from figures exerting themselves in their chosen sports to serene models of human beauty.Greek sculptors and painters abandoned symbolism and instead, embraced realism as their style of representation in which we call today p hotographic representation (Von Sivers 229). Craftspeople from the Chavin de’ Hauntar around 500 BCE made beads, pendants, stone tools and leather goods, but pioneered new techniques combining the wool from llamas with cotton to create a new blended cloth. They decorated it using new methods of dyeing and painting. Goldsmiths demised new methods of soldering and alloying gold and silver to make large ornamental objects.Small objects, such as golden headbands, ear spools, beads, and pins, signified prestige and wealth. Gold artifacts found in the graves of the wealthy attest to the value residents of Chavin placed on gold (Von Sivers 144). What technical and cultural development allowed the people of the Lapita culture to spread throughout the Pacific Islands? 500 BCE-200 BCE- The Polynesian Islands were settled in part due to sail and paddle-driven canoes, which were further improved by the addition of outriggers or double hulls.These boats improvements allowed the Polynesian s to sail further and reach some of the more distant islands. Cultural developments included the ability to retain elaborate, detailed mental maps of islands, ability to read wind patterns and currents, and retention of celestial information that allowed for navigation (Von Sivers ). The Silk Road was an overland trade routes that connected eastern and western Eurasia, beginning at the end of the fourth century BCE (Von Sivers 286).Mayans developed writing that was a complex combination of glyphic and syllabic script as early as 400-300 BCE. Mayan writing is a glyphic as well as a syllabic script, numbering some 800 signs. It is structurally similar to Sumerian cuneiform and Egyptian hieroglyphic. The glyphic part consists of pictograms, one-word images of the most essential features of what is to be depicted. Glyphs as syllables consist of one, two, or three of syllabic glyphs, or syllabaries, are pronounced as a series of syllables.Given the mixture of pictograms and syllabaries, which is potentially immense, the complexity of Mayan writing appeared for a long time to be an insuperable obstacle to any effort at deciphering (Von Sivers 182). Around 300 BCE, The Upanishadic writers, or which one hundred are known, thought that the Vedic religion had become too distracted due to the thousands of gods. The Upanishads instead sought a monist, rather that polytheistic approach, and sought for a first principle, a universal truth that did not require the worship of many different gods.The Upanishadic writers were hermits who wanted to reach unity with the universal self, which would remove them from the cycle of rebirth and redeath that characterized earthly life. Salvation in this system was moksha, escape from reincarnation. This salvation was achieved through meditation and brief aphorisms becoming a vital part of a new evolving tradition (Von Sivers 248). Around 221 BCE, the Qin Shi Huangdi, the first emperor of the Qin, accomplished a significant part of empir e and state building.These are several accomplishments of Shi Huangdi to include: building the Great Wall of China that was massive project stretching over 1400 miles to safeguard against attacks by nomadic people in the north; standardized weights, measures, and coinage; building roads, canals, irrigation, water conservancy projects; his tomb with life-sized warriors; use of conscripted labor; and the implementation of Legalism as the primary philosophy of the realm. Each of these was designed primarily to increase the centralized power of the Qin leader and his state.Babylonians were great mathematicians, who worked fractions, whole numbers and square roots as well as some of the elementary theorems of geometry (Lecture). Starting from the foundations of the Sumerians, the Babylonians made advances in arithmetic, geometry, and algebra. Buddhism, the most profound intellectual influences from India on the surrounding regions was in science and mathematics. During the period from th e second century BCE until the second century CE India was an importer of scientific and mathematical concepts from the Greco-Roman and Persian spheres.Greek geometry, made its way into northern India during this time. Concepts of Indian health regimens-some involving yoga discipline-along with the vast body of Indian medicine, with its extensive knowledge of herbal remedies, also seem to have moved west. In the area of mathematics and astronomy an important synthesis of ideas took place in the developing the first Indian calendars, which were based on the lunar months, through a year consisted of six seasons and an intercalary period was inserted every 30 months to make up the difference with the solar year.The Indians then adopted the calendar of the eastern Mediterranean and southwest Asia, which had a 7 –day week, a 24-hour day, and a 365-day solar year-along with the 12 zodiacal signs of the Greco-Roman world (Von Sivers 264). The earthenware produced during the Tang dyn asty 618 CE is among the most coveted in the world today. Perhaps even more impressive, by this time, too, artisans were producing a kind of â€Å"proto-porcelain† that, with increasing refinement, would be know in the succeeding centuries to the outside world as â€Å"china† (Von Sivers 284).Throughout history, humans have adapted their ideas to their environment and learned to overcome obstacles, thus paving the way for new elements of technology. Humans expressed themselves and communicated with one another in sophisticated ways through paintings, sculptures, and the decorative arts as well as writing, construction, and metals. Of more recent, humans invented writing systems that gave birth to many forms of literature. Humans have wrestled with ideas and beliefs regarding technology.

Tv Channels Project India in a Bad Light

TV Channels project India in a bad light Recently the rise of consumerism and a spurt in the number of satellites in the vicinity of our planet have led to rise in the number of TV Channels as well as their viewers across the country. We have specialized channels that cater to the different categories of human taste viz entertainment, music, news,sports,etc. The wider availability of channels helps the viewer to opt among them as per his or her choice. The news channels which are clubbed together in a word ‘media’ is one of the pillars of democracy. It is the moral duty of these news channels to bring the truth in front of the masses.Talking about our country,a nation which is second largest in the world in the terms of population and the largest effective electorate is truly an exemplar of democracy. Like any other nation,it is also laden with issues-both domestic as well as of international concerns. These news channels bear the social responsibility of imparting the n ews, the happenings,the incidents or accidents which should be nothing but the truth. Also the RTI Act empowers any common Indian citizen to go to the depths of affairs and have access to information povide its disclosure does not pose a grave threat to the security and integrity of the nation.The ‘truer’ picture sometimes become harsh and pretty inconvenient to be comestible but scandals and other activities of corruption need to be brought to general awareness. And, it is not only the darker side of affairs, it is also about the achievements and the milestones the country makes in the various spheres-sports, science, humanities,etc. We have several programmes on the national television that are oriented towards the cultural and economic welfare-be it related to the promotion of agriculture,tourism,industry,services,etc.Besides there are programmmes which highlight the nations prosperity, its geographical and cultural diversity and also encourage communal harmony. The consumer oriented channels which basically thrive on the TRP ratings,drama and screenplay is of prime concern to them which helps in a maintaining a certain class of audience bound to it. The audience is engrossed as the way the theme is displayed has a glamour, a pomp and show associated with it. For this, they may exaggerate certain situations or circumstances.Nonetheless,they impart a social message under the rosy spicy recipe of drama-be it child marriage,female foeticide,’honour’ killings,terrorism, etc. And, when a guy from the lower strata of society manages to win 5 crores in a game show by the dint of his knowledge and labour besides a grace of fortune,it clearly sends a strong signal to the society about the reachability of the capital to the masses. Last but not the least,the image of the news channels and the media might have been tainted over the issue of ‘paid’ news and the dubious string operations but their importance cannot be undermined a s a source of public information.There are reality shows which do not miss a opportunity to jeer at the widespread corruption but yes, one needs to appreciate them for their creativity for the ways they adopt to entertain people. It was an eminent personality of Bollywood who blogged regarding a movie getting Oscars with an acerbic response that the jury gets a kind of emotional satisfaction watching the widespread Indian poverty and the slums which the director of the movie has encashed upon. If that be the bitter truth, so be it.There are movies which highlight the unity , the cultural diversity , the celebrations in our country. It would be too early to conclude that TV Channels project our nation in a bad light. Frankly speaking, a sugar coated truth is the better word. Allowing mobile phones in class make students less serious in studies The world is getting smaller and we are living in the era of a ‘global village’ where communication and the exchange of ideas hap pens within the wink of an eye. Information is the key and the power,truly. And, there are several tools and gadgets that facilitate this flow of information.From print media to digital and electonic media, which are primarily used as means of mass communication, we have telephones and mobile phones which are important means of personal communication. Moreover, the recent splurge in the usage of gizmos and gazettes among the generation Y and the youngsters has becomea fad and a status symbol rather than a necessity and mobiles are no exception to it. Their use is not confined to a mere tete-a tete but incorporates several varied applications which diversifies their usage.And a modern day youngster would not be satisfied with a simple Nokia 3600 or1100. He or she would go for the more sophisticated or sleek designs provide there is no hole in the pocket created. Now, coming to the usage of mobile phones inside a class, there are norms which are both discipilnary and moral and make su fficient common sense,whch direct both the teacher/professor and the students who are partcipating in a lecture to put off their cells or keep them in such a mode which aviodsunnecessary distraction.But even the norms which are rarely followed in totto, and even when followed put a cap or restriction to their use as they are intended to. Ina large gatheing being addressed and lectured to,where it becomes increasingly difficult to keep track of each and every student, there are hubs created inside the class where students fail to get engrossed in the monotonous lectures and find their own ways to do away with the time to which cellphones prove to be a great aid.It may include sharing information regarding the latest cell that the neighbour has recently bought, or texting to the pal sitting at the other corner regarding the shabby outlook of the professor,to playing games like snakes,tetris or other advanced versions to listening to songs and watching videos(of all kinds) on the tiny screen. The world of SMSes ahs virtually made the students handicapped of writing anything sincerely as they still cannot help writing those abbreviations of informal chat even when they are writing an answer to aquestion which clearly indicates to their frivolous attitude.Adding to the worse of it,these students would just take a snapshot of te notes of a sincere and laborious classmate thinking that it would suffice and save my time and labour getting ‘wasted’. One may put forth the argument that even during the non mobile days there were always a section of students who were a source of nuisance and distraction by their activities . But the inadvertent entry of mobiles inside the classes provide innumerable creative ways to bolster their activities.A serious student who is trying his/her best to concentrate and attend the lecture would surely look askance at the slim mobile phone his pals are discussingabout for long. Now this seriously puts forward 2 very primary qu estions;first,why the pattern of education becomes so dread ful and tedious which call s for the students to distract and second, why cant we cater to the students interests and inclinations so that they are provided room to choose the lecture they want to attend?Mobile phones are just the present and a lame excuse for ignorance,we need to find the root cause and address it prooperly rather than to contemplate over its complete ban or usage. However, a partial ban like prohibiting its use during the class hours and allowing only after it, seems a temporary but an effective solution as per the need of the hour.

mp3 essays

mp3 essays The trading of MP3's or digital music over the Internet is all ways going to be an important part of the music industry, and is an unrealistic goal to try to control. The cost of controlling the piracy issues over the Internet would cost record companies more money than what they are losing due to MP3 trading. The record industry is trying to fight the major sites and companies in court with copyright suits. Quinlan states Although downloading music over the Internet and playing it back on computer or portable digital music players has become increasingly popular, major record labels have been slow to embrace distribution over the Web because of the difficulty in preventing unauthorized and unpaid copying of songs. MP3 is a file format which compresses audio files to efficiently store the audio data in files that can be easily downloaded on the Internet. MP3 files are identified by the file extension MP3 and require specialized players which decompress the files and then play the audio files like a regular CD. For all practical purposes, MP3 files can be exact, near-perfect digital copies of the original recorded material. In other words, an MP3 file is a near-perfect copy of a CD and can be stored on a computer or other data storage media. MP3 shrinks audio files in such a way that sound quality is preserved, but the file size is significantly smaller than it would be as a regular CD song file. This means you are able to download an entire song in only a few minutes. After that, you can play the song instantly, as many times as you want, regardless of your modem speed! Kimmel states Quite simply, the technology behind the MP3 audio format allows for high compression ratio and CD- quality sound. An MP3 file compresses a sound file to one-twelfth its MP3 has made it possible to download quality audio from the Web very quickly, causing it to become a worldwide auditi...

Book Of Mormon Is False Essays - Book Of Mormon Witnesses

Book Of Mormon Is False Essays - Book Of Mormon Witnesses Book Of Mormon Is False An Examination of the Book of Mormon and its Chief Witnesses Joseph Smith, the founder of the Church of Jesus Christ of Latter Day Saints claimed that he received the Book of Mormon as a revelation from God. He said that the heavenly being Moroni appeared to him and directed him to some buried gold plates which contained ancient writings. His task then, was to translate these ancient writings with the help of seer stones which were also buried with the gold plates. Smith received strict directions from the heavenly being that he was to show the plates to no one except for appointed individuals. The Book of Mormon in its preface identifies these as eleven persons: the three witnesses and the eight witnesses. A student of religion would now be interested in knowing something about these witnesses, for only then can we evaluate their worth as witnesses. The Book of Mormon names the three witnesses as Oliver Cowdery, David Whitmer, and Martin Harris. The book also names the eight witnesses as follows: Christian Whitmer, Jacob Whitmer, Peter Whitmer, Jr., John Whitmer, Hiram Page, Joseph Smith, Sr., Hyrum Smith, and Samuel H. Smith. Who were these persons? And what can we know about them that would give us reason to either believe or disbelieve them as witnesses in this most important matter? A good place to look for information would be the publications of the Mormons themselves, since they should more than anyone else be interested in preserving histories of their principal witnesses. This approach could be used at least as a starting point for gathering information before further scrutiny and investigative work. In this study I would like to turn to two books published by the Mormons to find information about the chief witnesses. The first book is the Doctrine and Covenant, a book of authoritative scriptures for the Mormons. The second book is Church History Timeline by William W. Slaughter, published by Desert Book Company, in Salt Lake City, Utah, 1996. What follows is a brief look at the information these books contain about the witnesses and other key persons associated with the Book of Mormon. My intention here is not to provide a summary of the entire body of information but only to show that what we learn from these books do not give us much confidence in the witnesses and hence in the Book of Mormon itself. The first of the three witnesses is Oliver Cowdery, a rural schoolteacher. He was a scribe to Joseph Smith, and associate president of the Church. In April 12,1838 he was excommunicated from the Mormon Church. He was rebaptized ten years later in November 1848 and died March 3, 1850. Reading this, one must wonder why this chief witness was excommunicated during the lifetime of Joseph Smith his prophet, and be allowed back in the church after his prophet died. Smith was martyred on June 27, 1844. The second of the three witnesses is Martin Harris. He was a prosperous farmer who was known as industrious, honest, and generous. It was his $3000 that financed the first 5,000 copies of the Book of Mormon. But, as William Slaughter informs us: Harris clashed with Church leaders over monetary practices and was excommunicated in December 1837; he was rebaptized November 27, 1842. (Church History Timeline, p. 5). The same Martin Harris was given 116 pages of the book of Mormon after Joseph Smith had translated them with the help of the seer stones. But then he allowed wicked men to take these pages for the purpose of corrupting the translation and then to accuse Joseph Smith of falsehood in his prophetic claim. Why would Martin Harris do this? The Doctrine and Covenants explains that he was a wicked man who sought to destroy Joseph Smith. Joseph Smith relates in his history how Martin Harris had previously taken sample characters from the book of Mormon along with the relevant translation of those characters and received confirmation of these in New York City from a professor Charles Anton and Dr. Mitchell. These men attested that the characters were true characters of the Egyptian, Chaldaic, Assyriac and Arabic, and that the translation so far done by Joseph Smith was accurate. Now, one may wonder why did Harris, after he had received this confirmation, should seek to destroy Joseph Smith. And what value should we attach to the testimony of a man who sought to destroy one whom he believed was God's prophet? Since the Doctrine and Covenants call Harris a wicked man,

Businesses Operating in Market Conditions Samples for Students.

Businesses operating in market conditions can have positive or negative results. The reason for failure can be the assertion of short-term goals to the detriment of long-term, emphasizing short-term performance and profit, regardless of market development, meaning thereby the non-existence of a marketing plan. A quality marketing plan is a basic prerequisite for efficient marketing, ensuring the integration of all marketing activities and assisting in the creation of favorable conditions for succeeding in the marketplace. The need for effective planning in services has long been clear. In 1975 Chisnall pointed to the growth of the services sector and emphasized that it is necessary to devote greater attention to measuring inputs and outputs, as well as an evaluation of the efficiency of resources. He underlined the significance of certain marketing methods for improving the firm, as well as marketing research, strategic planning, and marketing management. At the same time, he mention ed that in services and unwillingness to develop or constructive and market-oriented approach towards a marketing plan is common. The marketing plan is the component of the business plan. The yearly plan concerns marketing objectives and strategies for a product, product range, development of the bank for one year, while the long-term marketing plan concerns a period of two to five years. The creation of the marketing plan is understated as a strategic process, where this is based on information and activities. The result is the marketing plan, which is realized and monitored in connection with the results achieved Identifying your competitors: The first step in conducting a competitor analysis is to identify your competitors. Begin this process by considering the range of competition in your market-space because not all competition is the same, there are different types of competitors your organization will face. Finding your competitors: Who are your competitors? How do you find them? Not only are there advanced search tools available to assist you in finding competitors, but their motivation to have a high profile on the Internet makes it impossible for competitors to hide from your searching efforts. So, the most logical and best place to start looking for as each competitor is identified, visit their Web site and form some initial impressions about how much of a major competitor they are. Your focus here is on same or similar target markets, products, and value propositions; don't let a flashy Web site convince you that this is a major competitor when the value proposition is all wrong. Cr eating a competitor analysis grid (or use the one provided above): With a list of competitors in hand, the next step is to conduct a methodical analysis of their strengths and weaknesses. Step one — identify why a customer would want to buy your product/service. Step Two: segment your overall market. Places are increasingly at risk - as a result of the change in the global economic, political and technological environment. Places are increasingly at risk - as a result of the inevitable process of urban evolution and decay. Places are facing a growing number of competitors in their efforts to attract scarce resources. Places have to rely increasingly on their own local resources to face growing competition. A major factor in determining the profitability of any product is establishing a base price. There are three methods of setting a product’s base price: This approach is common to new businesses, especially if their founder is rather inexperienced in marketing analysis, and/or has a strong passion – even an obsession – about providing a certain product or service. He bases his belief almost entirely on his or her own perception, even though there is sometimes no verified evidence of a market for the product or service. In this approach, the founder of the product or service: When you do your promotion planning (as part of your strategic planning) - the basic questions to ask are: Who do we want to communicate with? Why do we want to communicate with them? What do we want to communicate with them about? What is the best way to communicate with them? How much will this strategy cost? What is our budget for this? How will we know if we have been successful? In order to assess where the bank is at present, detailed information concerning both the past state, as well as present state is necessary. Costs, revenues and profits achieved are analyzed over time for the longer-term period. It is best to compare the development of our own bank with the most influential competitor. It is also suitable to analyze the development of comparable products with those of the competition. An analysis of the results achieved is performed for the bank as a whole, or also according to individual market segments (for example by age group). A detailed analysis of the results achieved helps in setting realistic marketing objectives, which represents the second stage of planning. Further information is necessary for elaborating marketing implementation so that it is possible to adopt corrective measures in the control phase (Veresovà ¡, 2002). Peter Drucker identified the following fields for objectives setting: Marketing objectives usually have the form of expected results in specific market segments and also for the market as a whole. According to McDonald, they cover these fields volume of sales, market share, profit, customer objectives and marketing expenses (Selecting target market, 2017). Banks must consider how they will manage individual productivity for achieving their objectives. It is necessary to ensure balance in the growth of earnings, the cash flow, and the risk. With a growth or decline in the range of services and with a change in the market the overall nature of the business portfolio changes. Various portfolio models serve for solving this question, and which have the form of matrices and depict the external and internal business environment. For an estimate of the attractiveness for individual strategic units, we can use5 the growth share or matrix created by the Boston Consulting Group, which gives precedence to the flow of incomes over other criteria. Among the most known multi-factor models are also the portfolio matrices of the firm McKinsey and Shell, often known as the matrices of market attractiveness and business strengths. Another model is the General Electric model, which works with the factors market attractiveness and the competitive position of the bank. In this model, the attractiveness of the market influences the size and speed of market growth, competitive behavior, gross profit achieved and sensitivity to economic fluctuations (Lynn, 2011). The competitive position of the firm is expressed by the share of the bank in their overall market, customer loyalty, and the nature of the distribution system and the level of expenses. An evaluation of the portfolio helps managers to set objectives and strategy which are in accordance with the possibilities and abilities of the business. These approaches, however, have their limitations. One of their greatest weaknesses is the difficulty of defining other boundaries of the business activities and the general assumption that the market share always has a positive correlation with the return on investments - thereby ignoring the fact that also small business subjects operating in a gap in the market can achieve high a rate of return on investments. Portfolio models are of great benefit for planning for the marketing strategy, though only where all risks are known (Metaxas, 2005). The aim of marketing programs is to ensure that the practical realization of the marketing strategies adopted. This includes a delegation of rights and responsibilities of individual employees, as well as the distribution of available financial resources. Marketing programs, like marketing objectives and strategies, should fulfill certain requirements. Each program must clearly define the resources, as well as the time schedule. Before actually realizing a program it is necessary to set out a detailed marketing budget including expenses and the deployment of resources (The Marketing Plan, 2017). The budget is created similarly as in the case of an advertisement either through an annual increase/decrease or through the more appropriate method according to first chosen objectives. The role of the marketing program is to prioritize marketing activities, dividing these into important marketing activities, partial steps, and tactical tasks. Part of this is also the preparation of time pla ns stipulating the limits for fulfilling key tasks. It may also be evaluated at regular meetings, for example as part of the monthly cycle. A useful aid for ascertaining differences between the actual and the target state is discrepancy analysis. This is a measure of the success of a marketing plan in ensuring the desired business objectives. It is most often used in the case of revenues and profitability but also can serve as the evaluation of other variables, for example, the return on investments etc. The idea of assessing alternative mixes is to find the most appropriate marketing strategy prior to beginning implementation of the plan. In the assessment, various analytical approaches can be used or simple methods on the basis of trial and error. The next step is setting alternative or backup plans. Since we cannot elaborate an alternative plan for every case, we should evaluate the influence of various groups of assumptions and find areas of greatest risk (Ghauri and Cateora, 2011). As results from Kotler’s research in 75 firms operating in the services fields, many of the control systems are inadequate. Berkowitz cites as the most frequent reasons for the failure of the marketing plan as10: From the above, it results that the marketing plan is becoming an important aid and tool for asserting the bank in the marketplace. It contains information necessary for managing and making well-grounded decisions. Its advantage is its comprehensiveness, therefore it is essential that all employees get acquainted with it. Every employee must recognize that as long as the bank as a whole prospers and that employees have the same objectives and through joint efforts achieve good results, this, in the end, will mean certainty in life also for employees. Ghauri, P. and Cateora, P. (2011). International Marketing.  Edinburgh Business School. [online] Available at: https://www.ebsglobal.net/EBS/media/EBS/PDFs/International-Marketing-Course-Taster.pdf [Accessed 24 Apr. 2017]. Lynn, M. (2011). Segmenting and Targeting Your Market: Strategies and Limitations.  School of Hotel Administration Collection. [online] Available at: https://scholarship.sha.cornell.edu/cgi/viewcontent.cgi?article=1238&context=articles [Accessed 24 Apr. 2017]. Metaxas, T. (2005). Market research and target market segmentation.  Department of planning and regional department, [online] 38. Available at: https://www.prd.uth.gr/uploads/discussion_papers/2005/uth-prd-dp-2005-03_en.pdf [Accessed 24 Apr. 2017]. OTIENO, F. (2017). The Roles of Monitoring and Evaluation in Projects. [online] Available at: https://www.irbnet.de/daten/iconda/CIB8942.pdf [Accessed 24 Apr. 2017]. Schnaith, P. (2011). The Implementation of Marketing Programs for New Target Segments.  I S S E R T A T I O N of the University of St. Gallen, School of Management. [online] Available at: https://www1.unisg.ch/www/edis.nsf/SysLkpByIdentifier/3979/$FILE/dis3979.pdf [Accessed 24 Apr. 2017]. Selecting target market. (2017). [online] Available at: https://agrilifecdn.tamu.edu/cromptonrpts/files/2011/06/Full-Text14.pdf [Accessed 24 Apr. 2017]. Strategic evaluation and control. (2013).  Undergraduate Strategic Management. [online] Available at: https://web.idv.nkmu.edu.tw/~hgyang/Module9.pdf [Accessed 24 Apr. 2017]. The Marketing Plan. (2017).  MARKETING PLAN OUTLINE. [online] Available at: https://www.sbdc.umb.edu/pdfs/marketing_plan.pdf [Accessed 24 Apr. 2017]. Veresovà ¡, E. (2002). MARKETING PLAN.  Economic Focus. [online] Available at: https://www.nbs.sk/_img/Documents/BIATEC/BIA08_02/14_18.pdf [Accessed 24 Apr. 2017]. Looking for an answer 'who will do my essay for cheap',

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Work Based Learning in the Creative and Cultural Industries - Assignment Example The information that is being given to the public continues to be announced, specifically with a relation to updates about the flu, how it is spreading and what an individual can do for prevention and treatment (Flu.Gov). The main concepts that are associated with the swine flu, even though it is based on prevention and treatment, has led to further questions about the attitudes toward this epidemic. It has been found that the swine flu outbreak is one that is not only based on health and prevention. Instead, the media has created a further epidemic through the amount of knowledge that they have received as well as through the hype that has been created around the flu. The limited evidence, knowledge and the idea of the risk where millions will die has created a different culture and attitude surrounding the swine flu. The influence of the media is one that has altered the understanding and legitimacy of the flu and has created a different culture related to the vaccinations and seriousness surrounding this virus (Goldacre, 2009). To find the true beliefs of culture and society about the swine flu, as well as the impact of the media, I have interviewed a variety of individuals. The questions asked relate to the legitimacy of the flu as well as the information and understanding of what is a part of this epidemic. The results show that, there is a cultural and societal understanding of the flu, not only based on the facts about the swine flu, but also from the influence of the media and the hype that is surrounding this specific flu. From the work place to homes, is an epidemic that is not only based on the flu, but also is related to the culture and expectations that are surrounding

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MGM625-0903A-01 Applied Finance for Decision-Making - Phase 3 Discussion Board 2 - Essay Example It has been noted that in most cases the debt carries costs which are much lower (Morgan, Redman Smith and Cooper, 2001). The main reasons behind this include, the ownership of the equity holders is not diluted, and higher rates of interest needed due to the higher levels of risk taken, and also the interest paid on the debts do qualify as business expenses. In theory it is good to use debt as a financing source for businesses. This is mainly because of the fact that the interest paid is generally tax deductible and it can be included as business expenses unlike the cost of equity. This ratio reveals the solvency and the capital structure of the company. It is used as an indicator for the leveraging in terms of the debt and also provides for a better understanding of the amount owned and the amount owed. This gives a view of the amount the company can use for borrowing. There are also a few benefits of debt which include the tax benefits, and also inclusion of higher levels of discipline to the management. However, considering the cost of debt, it is seen that it includes, loss of future flexibility cost, agency cost and bankruptcy costs that can be levied on the companies (Samuels, Wilkes and Brayshaw, 2000). The normal reaction would involve an increase in the Long term debts, which would also lead to an increase in the cash on the assets side of the book. This would in turn have a strong affect on the above mentioned ratios. Also the changes might not be appreciated by the creditors. Also the company might also face issues in terms of receiving loans from the banks as well. Use of higher levels of debt financing when compared to the equity financing means the company would have higher financial leverage. It is noted that the interest payments to debtors is normally tax deductible unlike the dividend which is payable to the shareholders. Thus if the company has higher levels of debt

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Outline the arguments for and against free trade - Essay Example Free trade doesn't not only happen between the continents but it also happens between neighbouring nations. Argument about free trade can take many dimension including economic, moral, and socio-political arguments. Free trade takes many dimension and the proponents and opponents of the idea takes stands on the issue depending on their beliefs. In the last century, arguments on free trade were centred on the inequality that seems to persist between developed and developing nations which seem to be the mother of inequalities. There have been many campaigners who have been arguing for implementation of free trade policies in the last century and they hoped that the new century would come with a new perception on solving the inequalities between nations in the world through free trade. Apparently the campaign by these human activists and trade unions all over the world seem to have led to the development of essentially what we have been calling trade blocs that seems to emerge in all corners of the world. Analyzing the origin of the trade blocs, we can make formidable conclusion that all the trade blocks are created with an original aim of enhancing trade between members of the trade blocks. Trade blocs seem to be the new ideas on what the argument on free trade has taken. As we stand, the European Union remains to be the largest trade bloc in the world. European Union has been able to campaign for trade policies of its members and there is some success that can be attributed to the formation of the trade bloc. The European Union seems to be engaged in a massive recruitment of new members some who are not considered as vital to the operation of the bloc but a move which is seen as to consolidate more region under the bloc to empower it negotiation base. In America NAFTA has been negotiating for free trade for its members. Though small in number of members, NAFTA has been able to create a formidable trade bloc that has been able to negotiate for fair trade terms between its members and between the members and the international market. In South America, MERCOSUR has been expanding year after year admitting new member in South American and soon there is a possibility of the whole region coming under control of MERCOSUR. It has been able to negotiate for fair trade terms of its members in the international market. (Congressional Budget Office, 2003) In African, there are a number of trade blocs including SADDC, EAC, COMESA and others all which negotiate for free and fair trade terms between the members and between the member and the international community. In the Middle East there is the Gulf Council which brings together most of oil producing countries in the region together and which enables members to negotiate for free and fair trade terms. In Asia there also trade block which brings together members of the Asian community. But one peculiar view of Asia as far as trade blocks are concerned is the growing recruitment of some countries into the European Union especially the Balkan countries. This simple analysis shows how the concept of free trade has become to the world. It is the motto the modern international market. Eventually it seems as the concept of free and fair trade will lead to formation of new axis in the world all which will be campaigning for free trade. Let us look closely at arguments for and against free trade Arguments for free trade Since the concept of fr

Latin American Cinema (mexico) Essay Example | Topics and Well Written Essays - 750 words

Latin American Cinema (mexico) - Essay Example The film focuses on the mansions and estates of the happy wealthy class and director casts his sarcastic and jaundiced eye on this class and targets the bourgeois with his scathing attack in order to point out the injustice and degradation that continuously checked the progress of the poor people and poverty and injustice that is relentlessly inflicted on them. The film, Los Olivadados, is uniquely Mexican in its tone, setting and theme. The society which Bunuel chooses is also exclusively Mexican. The plot of the film may speak that â€Å"behind every beautiful city (there) are poor children† but the plot of the film has close connection with Mexican perspective. The film speaks about its protagonist who is abandoned by his mother on the streets of the city, so Bunuel choose the streets as his location and non-actors to speak his mind because he wanted this film to be made for general mass of Latin America . The film is about common man and so it displays all that a common ma n may relate with it. The film Y tu Mama Tambien is a true national cinema that attended global audience and critics. But the film in texture, theme and tone is completely Mexican. The hostility of the government, the boom-to-bust-cycles, the period of cinematic famine are all displayed and in a very much Mexican context. The film celebrates local talents of Mexico before they migrate to Hollywood. The film is quite reminiscent to Los Olivadados as it also displays some issues that are social and have deep roots in politics. The film also equally speaks about the grim face of any nation, society or state that hides its face with glittering sophistry and snobbishness. Considering the theme of the movie, it can be said that the core idea and setting of the film is reminiscent of Los Olivadados. The stories are said in a didactic way and are related with each other at their central idea which somewhere pertains to the victory,

Outline the arguments for and against free trade Essay

Outline the arguments for and against free trade - Essay Example Free trade doesn't not only happen between the continents but it also happens between neighbouring nations. Argument about free trade can take many dimension including economic, moral, and socio-political arguments. Free trade takes many dimension and the proponents and opponents of the idea takes stands on the issue depending on their beliefs. In the last century, arguments on free trade were centred on the inequality that seems to persist between developed and developing nations which seem to be the mother of inequalities. There have been many campaigners who have been arguing for implementation of free trade policies in the last century and they hoped that the new century would come with a new perception on solving the inequalities between nations in the world through free trade. Apparently the campaign by these human activists and trade unions all over the world seem to have led to the development of essentially what we have been calling trade blocs that seems to emerge in all corners of the world. Analyzing the origin of the trade blocs, we can make formidable conclusion that all the trade blocks are created with an original aim of enhancing trade between members of the trade blocks. Trade blocs seem to be the new ideas on what the argument on free trade has taken. As we stand, the European Union remains to be the largest trade bloc in the world. European Union has been able to campaign for trade policies of its members and there is some success that can be attributed to the formation of the trade bloc. The European Union seems to be engaged in a massive recruitment of new members some who are not considered as vital to the operation of the bloc but a move which is seen as to consolidate more region under the bloc to empower it negotiation base. In America NAFTA has been negotiating for free trade for its members. Though small in number of members, NAFTA has been able to create a formidable trade bloc that has been able to negotiate for fair trade terms between its members and between the members and the international market. In South America, MERCOSUR has been expanding year after year admitting new member in South American and soon there is a possibility of the whole region coming under control of MERCOSUR. It has been able to negotiate for fair trade terms of its members in the international market. (Congressional Budget Office, 2003) In African, there are a number of trade blocs including SADDC, EAC, COMESA and others all which negotiate for free and fair trade terms between the members and between the member and the international community. In the Middle East there is the Gulf Council which brings together most of oil producing countries in the region together and which enables members to negotiate for free and fair trade terms. In Asia there also trade block which brings together members of the Asian community. But one peculiar view of Asia as far as trade blocks are concerned is the growing recruitment of some countries into the European Union especially the Balkan countries. This simple analysis shows how the concept of free trade has become to the world. It is the motto the modern international market. Eventually it seems as the concept of free and fair trade will lead to formation of new axis in the world all which will be campaigning for free trade. Let us look closely at arguments for and against free trade Arguments for free trade Since the concept of fr

Online Shopping vs Brick and Mortar Shopping Essay Example for Free

Online Shopping vs Brick and Mortar Shopping Essay Brick and mortar shopping and online shopping compare and contrast in many different ways. Some of the ways are obvious such as one is online and one is an actual store, but there are others that many different people would not even think about if they didn’t shop in both settings regularly. Knowing the benefits of online shopping and shopping in store can not only save a person the hassle of getting out when something may be better to get online, but it can also save a person tons of money knowing which setting to buy certain things from. For instance, during certain times of the year store may offer exclusive savings on certain products if you buy them online and buy them together. This kind of promotion can save you massive amounts of money. Brick and mortar shopping and online shopping compare and contrast by sales, convenience, and coupon use. Brick and mortar shopping and online shopping compare and contrast by sales. When shopping online, stores sometimes offer exclusive sales for online only shoppers. When shopping online a person can save money on top of sales by shopping through a cash back service such as www. bates. com. Www. ebates. com will offer you a percentage of what you spend at certain stores online to encourage you to shop online at that store. When shopping online a person can take advantage of a good deal without having to justify themselves to a sales associate. Sometimes a sales associate will not agree with someone getting the great deal that their company is plainly offering. At least a computer will not argue with someone or try to make it seem like someone is trying to take advantage of the system. When shopping in store, stores also sometimes offer exclusive sales for in store shoppers only. When shopping in store a person can sometimes match prices at stores such as Wal-Mart. Wal-Mart offers to let a person match a price from another local store just by showing the cashier the print add therefore extending your savings. Some other stores like CVS also offer store cards that shoppers can use for even bigger savings and exclusive deals. Sales like these can really drop your bills! Brick and mortar shopping and online shopping compare and contrast by convenience. When shopping online, a person can shop from the convenience of their own home. Another great advantage of shopping online is that you don’t have to take the time to put in makeup, fix your hair, or even change out of your pajamas. When online shopping a person does not have to spend gas money to get out and go to the store. Also, when shopping online a person can compare items from different stores to see which items are of better quality and value. In retrospect when shopping in a brick and mortar store associates can help a person with their purchase. When shopping in store with an associate a person can ask questions about the items that they are buying. A store associate can answer any questions about what a person is shopping for that they may have been curious about. This can be very helpful in choosing just the right products for your family. One other difference about shopping in store is that there are no shipping fees that need to be paid. There is also no wait between when a person purchases their items and when they get them. This effectively saves you both time and money. Brick and mortar shopping and online shopping compare and contrast by coupon use. When shopping online a store will sometimes offer exclusive coupon codes that are only good for online use. Sometimes the coupons that are offered online will have a higher value than a coupon that you will use in store. Stores will sometimes do this to encourage you to try shopping online as opposed to a brick and mortar setting. Also, when shopping online with coupons you do not have to deal with an associate during the checkout process. Sometimes an in store associate will argue with you about whether or not your coupon is legitimate or if that coupon can be used on the item in your cart. When shopping in store you can use paper coupons and sometimes printed coupons. Also, some stores will let you stack a manufactures coupon with a coupon put out by that particular store. This means that you can use two coupons towards the purchase of one item. The store coupon is considered the same as an in store promotion therefore allowing you to use a manufactures coupon as well. This can increase your savings dramatically. Online shopping and shopping in a brick and mortar setting compare and contrast by sales convenience, and coupon use. Online shopping and brick and mortar shopping have many different elements associated with each of them that many different people do not realize. Writing them down in an organized manner helps one to see all of the great differences and comparatives between the two. When shopping online there are great benefits such as exclusive sales, the convenience of not having to leave the house to get what you need, and that you can use exclusive online coupons. In comparison to this when shopping in a brick and mortar setting you can take advantage of in store exclusive sales and promotions, you can ask the store associates questions about the products you are buying, you don’t have to wait for the product to be delivered to you, and you can sometimes stack manufactures coupons with store coupons. These are all great comparisons and contrasts of online shopping and brick and mortar shopping, hopefully you can make an informed decision about which is best for you.