Art of Cooking Essay

I have a passion for culinary art. My double culture, and family background was behind this love . I always thought that being half French , half Moroccan is a great mixture , but starting to cook approved it to me . I remember when I used to sneak in my mom’s kitchen, and play with the ingredients. It was a great time where I learned how to mix, and make new dishes by improvising new combinations. For example, I mixed flavors and textures that were usually never combined. Or even add new colors in my dishes that raise their beauty. I was not the only one fascinated by food. My dad a professional chef got me into the world of pastry, and Moroccan traditional food ex: â€Å"Tagine,† which is primarily used to slow-cook savory stews and vegetable dishes. Because the domed or cone-shaped lid of the tagine traps steam and returns the condensed liquid to the pot. Morocco is the culinary star of North Africa; it is the doorway between Europe and Africa. Much imperial and trade influence has been filtered, and blended into this culture. Moroccan cooking is characterized by rich spices that combine anywhere from 10 to 100 spices. French and Moroccan cooking cuisines have been subject to Berber, Moorish, Arab, and European influences. Most French dishes are known for their complex, and rich flavors, we love bread, and wines. Most of people tried some French recipes, or food without knowing that is even French. You may find them all over the world. Ex: * Crepes: a very flat pancake typically stuffed with fruit or cream. * Baguette: a long French bread loaf. * Chocolate mousse: this lighter than air dessert originated in France. * Eclair : a pastry stuffed with cream and topped with icing. * Creme Brulee : Custard topped with hard caramel. â€Å"One cannot think well, love well, and sleep well, if one has not dined well. †

Advantages And Disadvantages Of Shopping Online Essay

Who does not like to shop? Most of the people likes to shop but some people are so lazy that they don’t even have time for shopping. The good news is that, now it is possible to shop from your home, whenever you want, just by clicking on the internet. Life never has been so much easier! Recently shopping online has become very popular because of the vast availability of internet and online banking. Millions of products are sold all over the world through online. Because it’s numerous benefit, nowadays many people prefer to shop online, even though you have to be carefull, shopping online has got many disadvantages as well. Jacob, my little brother is planning to buy some games by the internet, while my father tells him all the advantages and disadvantages of shopping online. When you buy online, some of the advantages are that you save time – Do you have the specific list that you want to buy? With just a couple of clicks of the mouse, you can purchase your shopping orders and instantly move to other important things, which can save time. You can also save fuel and energy, one of the advantages of shopping online is that there is no need for vehicles, so no purchase of fuel necessary. Admit it, it is tiresome to shop from one location and transfer to another location. What is worse is that there are no available stocks for the merchandise you want to buy. In online shopping, you do not need to waste your energy when buying. The advanced innovation of search engine allows you to easily check prices and compare with just a few clicks. It is very straightforward to conduct price comparisons from one online shopping website to another. This gives you the freedom to determine which online store offers the most affordable item you are going to buy. Before buying online, you must be sure to put all your personal information and correct address. Besides that, Online shopping stores are open round the clock of 24/7, 7 and 365 days. The availability of online stores give you the freedom to shop at your own pace and convenience. When buying items online, there are no long lines you have to endure, just to buy your merchandise. Every online store is designed with unique individual ordering features to purchase the item. Read more:Â  Advantages and Disadvantages of Online Shopping

The impact of legislation on health,safty and environmental aspects of Essay

The impact of legislation on health,safty and environmental aspects of surface coatings - Essay Example Recently, the CEN Technical Board directed that the European standard work item should include assessment of the environmental aspect. The evaluation should be undertaken between Stage 11 (work allocated to Technical Body) and Stage 32 (working document circulated to Technical Body). This can be done by accomplishing a checklist provided by the CEN pertaining to environmental aspect. The checklist serves to ensure that the environmental aspects are in line with CEN directive seen in its system handbook guidelines. Similar to this, the ISO has come up with the ISO Guide 64 which calls for life cycle assessment to assess the environmental impact and recognized scientific technique used. (Wallstrom 2000) In terms of standards for paints and varnishes, the environmental aspect involves the minimization of pigment concentration, dispersion, grinding time and method, and durability among others. Moreover, the use of volatile organic compounds is highlighted. In relation to this, standards set acknowledge the fact the use of VOC in this industry may not entirely be avoided. However, the use of less harmful substances is encouraged. (Wallstrom 2000) The health and safety aspects concentrate on the use of reagents. The standards call for the substitution of aromatic compounds used for cleaning purposes whenever possible and the substitution of aliphatic solvent with vegetable ester with or without emulsifier. (Wallstrom 2000) All in all, majority of the technical standards set by both CEN and ISO for paints or surface coatings are focused on the test methods. However, it should be noted that these standards under test methods do not include much about environmental aspect unlike the standards for products and processes. Standards for products especially have significant impact on the choice of system and strongly encourage compliance with local and international legislations implemented. (Wallstrom 2000) The environmental, health and safety

Criminal Justice in the Ancient Times Research Paper

Criminal Justice in the Ancient Times - Research Paper Example Key words: Criminal justices, human rights, penalty and punishment Aspect of Human Rights in Criminal Justice in the Ancient Times Introduction Criminal justice refers to a coordination of practices and institutions of governments majoring at upholding social control, preventing and mitigating crime. Criminal justice sanctions those who break laws by applying criminal penalties and efforts of rehabilitation (Bauman, 2002). Those who are accused have protectors in opposition to abuse of investigation and powers of prosecution. The recent criminal justice system has evolved since the olden times with new versions of penalties, added rights for offenders and victims, and various policing reforms. These reforms have subsequently reflected a change on political ideals, economic aspects and customs. In ancient times especially the middle ages, exile was a common form of criminal penalty. During the middle Ages, compensation to the victim or the victim’s family which is known as werg ild was another form of punishment together with violent crimes (The justice cascade, 2011). This was appropriate for those who could not make their way out financially. Rash penalties included various forms of corporal punishment such as mutilation, flogging and branding. A criminal justice system consist of three major sections namely, legislative (creates laws), adjudication (courts) and corrections such as jails, probation and prisons (Journal on Courts, law, and justice, 2011). In this system, these separate agencies operate both under the rule of law and this is the valid means of keeping the rule of law within the society. Human rights as an aspect of history of criminal justice are considered to be an evolving aspect throughout human history. This is because they have been specifically tied to laws, customs and religions in the entire ages as from the ancient times (Journal of Forensic Social Work, 2011). One of the first codified rules of law that include references to pers onality rights is the code of Hammurabi. In the olden times, it was a big crime to displease either the gods or the king. The king of Mesopotamia, Hammurabi who existed in 1795 to 1750 was an exalted prince who respected God and thus was divinely called to create about the laws of righteousness in the land, to eliminate the immoral and the wrong doers so that they don’t harm the weak (Bauman, 2002). The code of Hammurabi was discovered in 1901 (about 4000 years ago)and it was carved into the sides of a high monument which was eight feet tall and for the first it was known for spelling out transparently, for every one within that community to observe the penalties and expectations that was valid to each and everyone leaving in that society. A larger portion of the Hammurabi tablet majorly focuses on matters that recently would be considered as human rights in the context of family or civil law. This might include incidents such as felling trees of the orchard that belongs to a particular person or the right to remarry or pass dowry on her sons. In addition, other parts of this tablet granted debt relief for farmers who were inconvenienced by natural calamities such as drought, famine and famers whose crops were damaged as a result of careless irrigation practices of their neighbors (The justice cascade, 2011). There were various penalties for pasturing sheep in the field of another and provisions for the incentive of

Medicine Essay Example | Topics and Well Written Essays - 2000 words

Medicine - Essay Example The practice of medicine has been shaped through the years by advancement and refinement of existing techniques of that era. As per N.D Jewson the concept of sick man was found to disappear from medical cosmology in two related sense of period ,1770 to 1870. Medical cosmology is basically meta physical and attempts to circumscribe and define the universal nature of medical disease ( Althruser and Bailbar, 1970 ). Three distinct period in history of medicine are associated with three different places and three different thoughts of diagnosis. From middle age- 18th century BED SIDE Medicine ( BM ) was widely prevalent, then by 1794 to 1848 came the era of HOSPTIAL MEDICINE ( HM ). And from the time forward it was Laboratory Medicine ( LM ) that ruled the medical world. The Laboratories contribution to the medicine has been recently recognized by the historians as something more than addition of knowledge, but as an seat of medicine which helps clinicians to account what they observe in patient. The first medical diagnosis made by human race was based on observations made with eyes and ears by ancient physicians. The Greek attribute all diverse reactions and diseases to bodily fluid called humor. Ancient Egypt's and Mesopotamian clinicians made diagnosis and treatment based primarily on observation of clinical symptoms as palpitations, acultation, etc. Other less scientific diagnosis that was widely prevalent in that time was spiritual sacrifice of animal and examination of those animals organs, being correlating to the patient's stage. Aptly described as the father of medicine ,Hippocrates in 300 BC attributed all diseases to body fluids. Later Gallen ( AD 131 to 101 ) who is called as the founder of experimental physiology combines Hippocrates and Pythogras theorem, holding four elements earth, fire, water and air contributing to four elements blood, bile, phlegm and black bile. In the middle age, in Europe early Christians considered diseases sin or punishment and diagnosis were based on symptoms, pulse, excreta ( especially urine). The concept of uroscopy was introduced and testing of urine for all diseases was made mandatory. The 17th century saw the descriptive work of medicine, as the medical journals started evolving and there was more ground work done for diagnosis and therapy of diseases. Many inventions as blood circulation, microscope, uroscopy, gravimeter analysis, experiments on blood transfusion, and attempt to use pulse rate and temperature as health indicator were followed. 18th century was considered to be the golden age of medicine as text book of medicines and laboratory medicines evolved. Blood pressure measurement and heart beat measurement and coagulation concepts were established in this century. The 19th century saw the growth of sophistication in technology in labs, transformation of society, introduction of the concept of bacteriolo gy, stethoscope, opthalmoscope, layrngoscope, x-ray, microscope, etc.( Starr, 1982). The three concepts in medicine At the beginning of medical cosmology, Bedside Medicine was widely predominant, mainly in the last 3rd of 18th century. The ideology was centered around University of Edinburg and in certain parts of England (Jewson, 1974). The BM treats patients as the patrons and physicians as

Discription Essay Example | Topics and Well Written Essays - 500 words - 1

Discription - Essay Example The pumping of the heart is controlled by the Sino atrial (SA) node that is located in the posterior wall of the right atrium(Heart 1995). 2. The valves: there are two types of valves the Atrioventricular valves (located in the middle of the heart between the ventricle and the atria) of two types the tricuspid on the right and mitral/cuspid on the left and the Semilunar valves of two types pulmonary and the aortic valve. The functions of the valve is too prevent the backflow of blood to the chambers. 3. The vessels: There are four main vessels in the heart; the vena cava divided into superior and inferior, the pulmonary artery, the pulmonary vein and the aorta. The functions of veins is to covey blood from and to the heart. The heart is divided into four chambers: the top two chambers are known as the atriums and the bottom two chambers are called ventricles. Importantly, the atriums both contract at the same time same as the two ventricles(Heart 1995). First and foremost, deoxygenated blood enters the heart via the superior and the inferior vena cava into the right atrium. The right atrium contracts and forces the blood to rush into the right ventricle through the tricuspid valve. Consequently, when the right ventricle contracts, the deoxygenated blood is pumped into both lungs through the pulmonary arterypast the semi lunar valves(Heart 1995). The process continuesas the blood is returned from the lungs via the pulmonary veins wherethe oxygenated blood is delivered to the left atrium. When the atrium contracts the blood is rushed through the valves into the left ventricle, thestrongest and most muscular portion of the heart.When the left ventricle contracts, blood is rushed through the aort a: he aorta is the main artery leaving the heart (Lewis 1925). Through this process, oxygenated blood is now taken throughout

Effective Processes of Management Essay Example | Topics and Well Written Essays - 2250 words

Effective Processes of Management - Essay Example The strategic management processes are three: strategy analysis, strategy formulation and strategy implementation. These processes are strongly interrelated. None of these processes comes first and the others follow. The order of these processes is not sequential. Henry Mintzberg supports the idea that the decisions in an organization are not always taken on optimal rationality and that the business environment is not predictable. He proposed another model of strategic management where the realized strategy of an organization is a combination of deliberate and emergent strategies. The processes of the financial management are the following: financial planning and financial control. Financial planning controls the financial resources of the organization and it plans the timing and the size of expenses. The financial processes help the organization to generate profits. Financial planning tries to increase the resources of the organization and it takes care of the money invested in the organization by external third parties/investors. Talking about investors, financial planning takes care that the investors will receive reasonable amounts of return on their investments. Change management is a necessary component of any organizational performance improvement process to succeed, including programs like Six Sigma, Business Process Reengineering, Total Quality Management, Organizational Development, Restructuring and continuous process improvement. Strategic Human Resource Management includes strategies concerning learning and development. There is a distinction between learning and development. Pedler, Boydell, and Burgoyne (1989) see learning as being concerned with an increase in knowledge or a higher degree of an existing skill, whereas development is more towards a different state of being or functioning.

The European sovereign debt crisis Essay Example | Topics and Well Written Essays - 1500 words

The European sovereign debt crisis - Essay Example It was found that from 2009 onwards, some countries in the EMU like Spain, Portugal and other countries in the similar zone, were not able to refinance the debts incurred by the government. This crisis in some of the countries in the EMU had a spill-over effect and had generated an economic scarcity in most of the contemporary economies in the world. The essay in this context desires to throw light on how the crises in some of the economies in the EMU were responsible for the massive and deadly financial crisis in the financial markets of the whole European Union (Ross, 1979). Crisis in a Small Economies Triggered a Large Impact The economies in the contemporary world have become highly integrated in nature after the emergence of globalization and liberalization. The debt crisis that was initially faced by the public authorities in a few small economies in the Euro zone like Spain, Greece etc were responsible for the occurrence of the Sovereign Debt Crisis for the whole European Cont inent. The Property Bubble that occurred in Spain long back in 2007 was largely responsible for the occurrence for the recession in the European economy at the latter stage. It was found that after a long term sustainable growth, the Spanish economy had become highly unproductive in nature. The entrepreneurs started to invest more in the real estate sector. However, it was found that the prices of the properties constantly increased in the economy because real estate trading was used for speculative purposes in the Spanish economy. Ultimately, this caused a fall in the disposable income of the individuals who had to purchase houses at very high prices. The number of the failed projects in the economy started to increase. All the other economic indicators like the government debt, exchange rates, velocity of money circulation, derivative trading etc became worse in the economy at this point of time. As the countries used to follow the regime of fixed policies, the recession in one pa rticular economy had largely triggered the same in other economies in the Euro zone. Greece was one of the poorest nations that had remained in the Euro Area. The government of the country took large amount of loans from the ECB for mitigating the requirements if the expansionary fiscal policies. However it was a matter of concern that the government of the country could not pay back the loans to the ECB. This was the reason for the huge fiscal deficit in the country. Fiscal deficit in the nation contagiously affected the supply of money in the economy. Thus during 2005 and 2009, some countries which were indeed small economies like Spain, Italy, Greece, Portugal etc. had to face severe financial crisis for reasons like property bubble, high fiscal debt or lack of productivity. Since all the nations in the Euro zone were integrated together in terms of the monetary policies taken for them, the crisis in some of the economies soon triggered the same in other economies in the European Continent and generated the severe Sovereign Debt Crisis in the country (Klann, 2007). Impact in the financial Market The financial market in the Euro zone was distressed after the occurrence of the Sovereign Debt Crisis. The severity of the recession caused in the economy has not been completely recovered from even at this juncture of time. Derivatives Market During the Sovereign Debt Crisis, the European economy faced severe financial crisis. The number of failed out financial projects were excessive. The overall productivity of the economy had fallen to a

Love, Fear, Sexuality and Society Essay Example for Free

Love, Fear, Sexuality and Society Essay The dawn of the 16th century, brought with it the evolution of great knowledge, an era of enlightenment, with not only the new growing social lifestyle of people but also the evolution in their thinking. The idea of love and fear therefore was the one established and molded into a new sculpture by the revolutionist and philosophers; and how we know the right and wrong today is what was established through the writings of these intellectuals’ years ago. Founder of political sciences of the 15th century, Niccolo di Bernardo dei Machiavelli, was an Italian born writer, philosopher, and politician; who through the strength of his pen and intellect was able to give the world a new perspective of the never dieing entity, love and hope. As a man of Renaissance, while holding a high political position, his writings are also a combination of his deep political thought and insight. He is most famous for his short novel, The Prince, which is his realistic approach towards the political discourse of that time period, exhibiting the advance towards power. â€Å"The Prince,† originally written in 1513 (however got published in 1532), is known as a political treatise, for its formal exposition of the ideology of political affairs. It is usually alluded to being called as a piece of act which represents the word â€Å"Machiavellian,† which refers to the playing politics in a ruthless way in order to retain power and position; moreover many critics have also states the story to be satire. The novel is a form of guide for a ruling or an expected prince, of how he can attain his throne, and then make sure that he remains in power and control. The idea of attaining the power is placed as crucial and primary to all, even where principality comes secondary to its approach, which he does so by dictating old examples of rulers, and making his own generalizations and hypothesizes upon them. According to Machiavelli, the first moral of ruling is to have an economically and politically stable country, and then it is upon the ruler as to how he would protect it even if the ways used by him were cruel, they remained justifiable as long as they kept her power sustained. The main purpose of the book was to explain Machiavelli’s ability and knowledge in politics, not promoting love and prosperity between powers, but rather working by conquering people’s fear and force. There are various themes discussed by the author in the book such as military and defense, which are the prerequisites of a firm state, having a fortified and well protected area, with no help being taken from allies as that would be a burden of favor, and stand brave in the battlefield. The book quite rigidity states that attributes such as mercy, religiousness, and principality, are good virtues too possess, but are not for a prince to adapt, as he at times has to work against them in order to defend his land. Also that a prince is better at being known as a miser than as a generous ruler, as it would weaken his economic status as well as bring grief upon people with larger taxes, thus having a bad reputation would be better than rather ending up with nothing. In answering to the idea of love and fear Machiavelli states that â€Å"it would be best to be both loved and feared. But since the two rarely come together, anyone compelled to choose will find greater security in being feared than in being loved. † (Machiavelli, Chapter 17, pp 60) He believes that commitments made under fear, are always kept firm; while a prince should also be careful that he is not feared to the point of hatred. Creating fear within the commandment of an army is necessary in order to gain their respect, and it should be brought upon the garrison even if the prince has to turn towards cruelty. Through the book the author emphasizes the fact that the only power which kept a prince from winning over his land and also his people is actually his ability to rule, rather than his fortune. He dictates the examples of Hannibal and Scipio Africanus; Hannibal who maintained a strong fear throughout his army, which consisted of soldiers of various races, and it was this fear of his which kept the army sturdy and united through out his reign; while Scipio, no matter had great abilities but is famous for the mutinies and trouble he had to face from the side of his own army. Virtue for Machiavelli did not carry a moral tone but it was rather based upon skill, courage, physical and mental capacity. However, in chapter of 8 of his book, the author mentions that no matter cruelty is important for governance but it should be properly utilized to attain a goal, but if it is made repetitive and arouses constant fear amongst the citizens then the prince does not contain any ability. It is not necessary for him to be loved, but he should be close enough to his people that he is not even hated, and thus requires both wisdom and courage; and above that the peripheral point should be established by which the prince is feared but not hated. And who could understand the complexities and the queries of life in a more powerful than the searcher of the nature, Plato, one of the greatest Greek philosophers. Born in 427 BC in Athens, Plato was the student of Socrates, and had his theories as an explanation and an elaboration of those presented by his master. Most of his writings are found in the form of a dialogue between him and Socrates, discussing numerous fascinating topics. Gorgias, is one of the most famous dialogues written by Plato, in which he defines a man’s virtuously right and proper nature. (Plato, 1994) It is believed to be a transitional dialogue, in which Plato represents Socrates teachings towards him in an indirect manner. This dialogue is seen to be carried out between Socrates, Gorgias and Callicles who are both rhetoricians, Pollus and Chaerephon who are both philosophy students; and the dialogue begins from Socrates side to prove the rhetoricians for being only people of sheer words. This dialogue is famous for the themes which it carries such as that of morality, philosophy and spirituality; forms into a debate between truth and falsehood. Socrates in his dialogue proving refutation explains that it is worse to inflict evil upon somebody rather than being an innocent victim of it and the most, unhappy man of the world would be the one who doesn’t meet his just punishment. While the best cure for an evil man would be when he meets his justice; paying for his sins. He believes that a wrong doer should be left on his own, his body to rot in the pain of his own guilt; and only with time when he realizes his guilt would his sins be forgiven and he move towards becoming a better and stronger person; no matter the rhetoricians disagree with his thought, as they believe that such treatment would be doing more evil than benefiting for good. Socrates ends the dialogue by explaining that on the Day of Judgment, man would be scrutinized and judged naked so that there are no hindrances for what he truly is. He believes that the evil doer’s body would be brandished by their sins, and they would be identifiable. According to Socrates, in the dialogue a mans virtue should be his ultimate goal, which should be based upon principles, and truth; while those who tend to love their own self alone and indulge in self pampering, are the selfish ones, as their self gratification would never cease but would only continue to get bigger with hunger of power and indulgence. Creating fear and causing pain to others is the greatest evil, as identified by Plato; and becomes the most significant theme of most of Plato’s writings because of the unjust and evil death of his teacher Socrates; which destroyed his vision of the truth and its enhancement in nature. The dialogue however, concludes by declaring virtue as the â€Å"good life,† which can only be attained via the compliance of principles and correct behavioral methods. Both the books â€Å"Prince† and â€Å"Gorgias,† believe in the achievement of power, not only to gain a greater control but also to satisfy and pamper one’s own self; and agree to the fact that once in power. An individual might stray from principality and truth for long term benefits seen at a larger scale; but should refrain from evil as it would create hatred as well as lead to god’s in the life of Hereafter. However when Machiavelli describes the attainment of power as man’s vital goal, Plato believes into its attainment but to a certain level alone could one sacrifice his principles to achieve it; after which he would be nothing but an evil dweller, increasing his part of sins. Both the writings show the difference between the thought of a politician, who take s the world in more of a materialistic manner, and that of a philosopher who takes a deeper look into things and does not talk about an individual alone or his unitary life; but talks about all the third parties affected by his actions and his spiritual life which would also be affected by his balance of truth and falsehood. Compare and describe the relationship between sexuality and society in the authors read so far. Writers since centuries have talked about how sexuality and society work together, complimenting each other, which evolve gradually with the society giving more leverage and promotion at an open arena to sexuality, as it grows wider and is able to compensate more liberal point of views openly. â€Å"Don Juan,† is a classic story which has been told and retold since centuries; its legendary tale being changed and evolved with the evolution of time, it has seen changes according to the prevailing circumstances and the notions of the writers who dwelled with its story line. Don Juan, as announced by the Spanish or Don Giovanni as told by the Italians, is the tale of a social libertine, an individual who has given of all the norms and rights of the society, such a person who does not believe into the limits of religion or morality. The legend of Don Juan talks about such a person who indulges himself into the pleasure of seducing women and enjoys winning over them. One day, Don Juan meets the dead spirit of the father of a girl he has seduced; casually and not knowing it he invites him to his house for dinner. In return to this compliment, the father invites Don Juan to his graveyard for dinner, when he accepts the invitation and extends his hand to the spirit, pulls him into the grave and takes him into the bottomless pit of hell, where he is to burn in the redemption for his unforgivable sins. The oldest version of Don Juan to be placed in writing is believed to be written by Tirso de Molina, by the name El burlador de Sevilla y convidado de piedra. Later a revised edition was written by Moliere, in 1665; who was also made to make continous ammendments by the critics, who took as a largely shameful act; and was not until 1185, that the orignal play was allowed to be acted without censorships. However, the society at that time failed to accept the play, as they found it too liberal and outspoken, which broke the barriers of religion and offended the prestiege of the king. Thus it laid down as least cost effective, and as the protagonist himself is portrayed as a catholic, thsu it further offends the teaches of the church by portraying them as hypocrates and evil doers. On the other hand, the representation of Don Juan in that era represents how sexulaity was missed used even in those times, but hardly any writteen record is seen because of the fact that the rulers didn’t want any such tales to be spoken of openly; theey were then brought under the case of adultery. Don Juan, also is the symbol of evil, a womanizer who cannot attain his forgiveness, he has sined so much in his life that even his good deeds are shadowed by his hypocrite nature. Every action of his holds insincerity and cannot be forgiven, and when eventually it is symbolised that he has been taken into the hell, it shows that the world did not contain any less painful avenge for him; and his death brought peace to all the woman who had suffered because of his flimsy character. Therefore by the story of Don Juan, conceived in the early 17th century, it can be seen that sexuality was miss used even in that time period but the society perferred to keeep it hidden and secretive, burrying such evil facts and tales which spoke against the religious and moral norms of the ruling powers. Evil of the society was thus only a hushed talk in those times. â€Å"The Prince,† a guide for the rulers of the world written by a government official of Florence, Italy, Niccolo Machiavelli, in the 16th Century; helps us know today of how gravely was the impact of politics and the attainment of power and prestige in the lives of people of that era. As the book states different tips and ways in which a prince could govern his kingdom in thee most efficient way winning both his commandment upon army and his position. Machiavelli also believed that gaining love from his people was not the most important part of ruling; a prince could never be too generous and lenient with his folk; however it was of vital importance that he managed his fear upon them so that he would respect him and treats him with the power and gratitude that he deserves. A ruler was not always successful through his inheritance or his economic strength; but he was turned into a symbol of esteem through his ability; which not only shined in his character but also was represented by the society which he ruled. Thus the prince held great responsibility for his own self and the lives of all those, whose protection was sworn onto him. To take even a deeper analysis into the lives of the people of the 16th century, we might take a look into the analysis of the book â€Å"Leviathan,† written by Thomas Hobbes in 1660. After looking through the time via the perspectives of a story teller, and then a politician, we take into the account of the era through the notions formed by a political philosopher; this book did not only establish a political thought in the minds of thee people but was also significant enough in influencing and establishing the entire Western political philosophy and laying down the perspective for the social contract theory. The book was first written by Hobbes at the time of the English Civil War, where he saw chaos and trouble through out the society. In such times Hobbes believed that the only thing which could keep the community together would be a strong unified governing system which would act as a central body in decision making, keeping away the evils of chaos and civil misbehavior. The theory represented by Hobbes believes that if man is left without a government to live in a free market, operated by no restrictions, then he lives the life of nature, whereby everything is free for anybody, which in the long run would lead to war, poverty, frustration and hatred. To prevent this, a social contract needs to be established which would establish a civil society, and distribute the scarce resources in a much more efficient way. This is a form of a commonwealth, which would help establish a protected civil society. The book can be divided into four parts, whereas the one which represents the society and its relation to sexuality is book one, â€Å"of Man. † Chapter 6 of this book discusses the theme of the involuntary emotions which arise inside a human being, over which he holds no control, known as passions. He describes these motions of man as animal instincts, categorizing them as â€Å"vital,† and â€Å"voluntary. † Vital being those which formulate the metabolism and are innate, while the later are those which man learns with the course of his life. He by this formulates the idea that human nature is actually a by product of his metabolism. His innate motions form desires known as endeavors, which raise love and hatred in man, which then form an aversion in a human being. While some of these desires are born with man, while some re learnt so with time and experience, and it is then from these appetites and aversions that passions arise which are known to be specific to human nature, of which those which qualify to be his appetite are those things that he likes, while those which fall into his aversions formulate his hatred and are evil. Then Chapter 11 and 13 of the book describe how manners differ in human beings and how he would respond to his conditions of misery. Hobbes further here describes how power in man could be self created and that which is instrumental attained from his society. However a man may differ from another due to his different manners which come from his ability to negotiate between power and fear; and it is through this knowledge that the society can in the end attain peace; when fear originates from ignorance and a person’s lack of foreseeing the future. Hobbes then concludes this part of his book with the thesis that when a human being lives in a society without any social contract, at that time he is living in a â€Å"state of nature,† and when a society is bent into such a living then it is nothing more than just a flake of imagination having no true existence. As Thomas Hobbes states: â€Å"In such condition, there is no place for industry . . . no Culture of the Earth; no Navigation . . . no commodious Building; no instruments of moving . . . no Knowledge of the face of the Earth; no account of Time; no Arts; no Letters; no Society; and which is worst of all, continual fear, and danger of violent death; And the life of man, solitary, poor, nasty, brutish, and short. (Chapter 13) References Fort, A. ,B. and Kates, H. , S. 1935 Don Juan or The Stone Death. Minute History of the Drama. New York: Grosset Dunlap. p. 47. Retrieved on Nov 27, 2007 from. http://www. theatrehistory. com/french/donjuan001. html Hobbes, T. (1651) The Leviathan. London: Andrew Crooke. Chapter 13 Machiavelli, N. (1908). The Prince, (1513). ed. W. K. Marriott. London: J. M. Dent and Sons, Pp 60. Plato. (1994) Collected Dialogues. eds. Edith Hamilton and Huntington Cairns. Princeton: Princeton University Press.

Economic development in China and India Essay Example for Free

Economic development in China and India Essay Foreign trade in China is almost completely dominated by the state. In 1979, China relaxed certain trade restrictions, paving the way for increases in the relatively small foreign investment and trade activity. By the late 1980s, yearly exports totaled about $41. 1 billion and imports $46. 4 billion, and both have increased sharply since then. China has been undergoing a dramatic transformation to a market economy. As a result, it currently is the world leader in terms of economic growth, industrial expansion, and exports. It contains an array of potential consumers that far exceeds the markets in Europe or the Western Hemisphere, and it is rapidly emerging as a new epicenter for industry, commerce, and finance. In addition, the so-called â€Å"greater China† has substantial amounts of technology and manufacturing capability, outstanding entrepreneurial, marketing, and services acumen in Hong Kong, a fine communications network and a tremendous pool of financial. When these resources are combined with the very large endowment of land, resources, and labor on the mainland, China already is a major superpower in the global economy. The people’s Republic of China (PRC or China, for short) has had a long tradition of isolation. In 1979, Deng Xiaoping opened his country to the world. Although his bloody 1989 put-down of protestors in Tiananmen Square was a definite setback for progress, China is rapidly trying to close the gap between itself and economically advance nations and to establish itself as an economic power in the Pacific Rim. Southeast China in particular has become a hotbed of business activity. Presently, China is actively encouraging trade with the West, and it is a major trading partner of the United States. Despite this progress, many U. S. and European multinationals find that doing business in the PRC can be a long, grueling process that often results in failure. One primary reason is that Western-based MNCs do not understand the role and impact of Chinese culture. Since the last few decades there has been a multifold increase in the FDI in China. The Chinese economy has now gaining the power of effecting the decisions of the economic bodies of the world. History of FDI growth in China: The country launched its open door policy 26 years ago. Since the policy introduction the FDI flows in the country received a quick response. In 2004 China was at no. 2nd position in the world of FDI with $64 billion. The Chinese FDI trends can be examined in two phases. First phase: 1979-82 Second phase: 1984-91 Third phase: 1992-99 In the first phase the government establish for special zones with incentive policies. Although there was a high inflow into those regions, the total FDI flow reached US $ 1. 8 billion. In the second phase the provinces were opened and recorded US $ 10. 3 billion. In 1989 however the trend dropped. In the third phase Deny Xiaoping opened China for overall economic reform. The phase was very fruitful for China. The government introduced new policies and market oriented economic reform. In result of these reforms the FDI’s started flowing into the Chinese economy at rocket speed. In November 1999 US-China had an agreement regarding the WTO, according to which many new reforms were made (Sandra, 2001) those included †¢ The sectors relating to the distribution services will be opened for repair and maintenance and China will phase in trading rights and distribution services over three years. The Government for the investment opened the telecommunication industry of China. †¢ The professionals were also allowed access to the service markets of China. The services included according, consulting, Information Technology and Engineering. (Lardy, 2000). FDI in China rose to a peak level of US $ 45463 million in 1998. In the first six months of 2002, actual foreign direct investment (FDI) in China rocketed to 24. 58 billion U. S. dollars, setting a record growth rate of 18. 69 percent year-on-year. (Beijing Time, 2002) On June 22, 2005, CNOOC, a Chinese company made a $18. billion bid to purchase Unocal Corporation, an U. S. energy company. News of the bid raised concern among several Members, many of who contend that the deal would threaten U. S. national security. On June 30, 2005, the House passed H. Res. 344 (Pombo) by a vote of 398 to 15, expressing the sense of the House of Representatives that a Chinese state-owned energy company exercising control of critical United States energy infrastructure and energy production capacity could take action that would threaten to impair the national security of the United States. On the same day, the House passed an amendment (H.  Amdt. 431) to an appropriations bill (H. R. 3058) that would prohibit the use of funds from being made available to recommend approval of the sale of Unocal Corporation to CNOOC. On May 20, 2005, the Chinese government reported that first quarter real GDP grew by 9. 4% in 2005 over the same period in 2004. On April 15, 2005, the Chinese government reported that its foreign exchange reserves had risen to $659. 1 billion by the end of May 2005. (Morrison, 2005) Some researchers state the fact that the data reported for FDI in China is different from the reality. The Chinese FDI data is overstated. About ? of flight capital later returns (â€Å"round-trips†) as FDI when opportunities emerge. (Gunter, 2004) From the early 1990s most of the researchers from International bodies have calculated wrong FDI. It is Mainland Chinese monies that flowed out to access better financial, regulatory and legal services and round-trip by returning to China as apparent FDI to access the fiscal incentives and improved investor protection offered in China to foreign investors. (Erskine, 2004) Outward FDI: â€Å"The figures on FDI outflows vary. According to China’s BOP statistics, the cumulative total during 1990 to 1997 was US$18. 9 billion, consisting exclusively of equity capital. Since the 1980s, China has been fast acquiring assets abroad. Researchers7 estimate that Chinese FDI in Hong Kong totaled US$20-30 billion by the end of 1993 or 1994. In fact the net wealth of Chinese affiliates abroad can be measured in hundreds of billion dollars. Officially, the Chinese SOEs had as many as 5 666 affiliates abroad at the end of 1998 with a combined FDI of US$6. 33 billion. (Chandra) Both the in-ward and the out-ward FDIs are a strong influencing forces which effect the trade performance of a country. This can be further explained by conducting the following case study. The study reveals increased value to Economy of China due to FDI. Source countries: Among the developed countries Japan United States are the most important investors in China. Hong Kong is also an important investor and newly industrialized (NIEs. From 1990’s some of the countries like Philippines Malaysia Indonesia have also increased their investment levels in China. Other countries are also showing interest in investing in China in future. In 2003, Sino-Japan trade reached a record high $132 billion. Examining the fast expansion of the bilateral trade suggests that direct investment from Japan performed a critical role in strengthening the economic integration between the two economies. Japanese affiliated manufacturers in China contributed to the soaring bilateral trade in dual ways: exporting their products as final products and intermediate inputs to Japan, and importing intermediates inputs from Japan for their production in China. In 2002, Japanese affiliated manufacturers exported 1,057 billion yen products to Japanese market (METI, 2003). The effect on China’s exports and its national economy is tremendous. (Xing, 2004) FDI from China: Not much material is provided regarding the subject. Although Hong Kong can be viewed as the destination for out ward flow of FDI from China. Sector and geographical distribution of FDI in China Sector Distribution: â€Å"So far, the major proportion of FDI is drawn for the manufacturing field, which takes up almost 60 per cent of the total contracted FDI by 1998. Next follows real estate with the share of 24. 4 percent. The portion of the distribution industry including transport, wholesale and retailing is 6. 0 percent. Construction comes next with 3. 1 percent. The primary industry such as agriculture, forestry and fishing takes 1. 8 per cent. In the future, service trade, such as finances, telecommunications and wholesale and resale commerce, will take up a larger share as a result of Chinese accession to WTO and further liberalization. Further investment liberalization should also take place in traditional industries. Especially, the expansion of FDI in agriculture will depend on the degree of opening up to the market circulation of agricultural products and the industrialized process of production operations. FIEs also generated nearly one fifth of the total tax revenues and 23. 5 million job opportunities, employing about one 10th of urban workers. These numbers suggest FDI has contributed nearly one quarter to one third of China’s GDP growth. †(OECD, 2004) Barriers in the way of FDI in China: The Chinese government has applied a controlled competition culture which against the liberalization provided by the WTO which lift most of the regulations from the trade commerce (Yoost, 2005) Many assets in commercial and industrial sectors are state owned. This in turn gives rise to the problem of hidden state regulation imposition of the government on the foreign investors. This strengthens the view that China does not practice liberty in Business. Some of the sectors of economy are still protected by the government. Due to the situation the WTO commitments are not fulfilled which gives rise to local competition for foreign investors Factors attracting FDI in India: â€Å"India is a prime offshore location for low and high-tech activities, its low-cost, English-speaking and IT-savvy labor force, coupled with a large market potential, underpin global executives improved outlook and investment confidence this year. † (Rediff. com, 2003) The first set of factors which was involved in bringing the FDI to India was the improvement in technology, cheap labor, cost effective production of the goods, cheap and efficient supply chain. The Indian Government also has the cutting edge of Channeling the FDI in the right direction. They are attracting most of the MNEs towards India because at present the Chinese economy can provide them with all the suitable factors desired. Due to its increase in population India has become a growing and profitable market for most of the MNEs products (Ahluwalia) The second set of factors, relating to SOEs, will change significantly and alter the market environment that foreign firms will face in India. Many if not the majority, of India’s best SOEs in industries accessible to foreign investors have set up joint ventures with foreign companies. In the foreseeable future, as the number of SOEs in the national economy continues to shrink, India will facilitate the entry of private domestic firms. MNCs will tend to build up their own affiliates rather than look for Indian domestic partners. At the same time, they will face more competition from private Indian firms as their numbers increase. All of these will become attractive features of the Indian market. Foreign invested enterprises (FIEs) have provided an alternative to private entrepreneurship because private Indian firms have been largely discriminated against. In the past 20 years, the highly efficient FIEs have contributed a great deal to the Indian economy. In 2002, even though FDI accounted for only one 10th of the gross fixed capital formation, FIEs contributed one third of the industrial output, one quarter of the value added, more than half of the exports, and nearly three quarters of the foreign exchange balances held in Chinese banks by corporations (Zhang, 2005). â€Å"The government of India eliminated export quotas as part of its effort to double Indian exports to more than $80 billion by 2007. India is the largest cotton cultivating country. The country has vast reservoir of scientific talent, established pharmaceutical industry, diversity of population and unique natural resources. Key to Indias development of biotechnology is the need for a science-based, rules-based regulatory approach, which is the best way to attract private sector investment. † (Larson, 2002) The major empirical conclusions of this paper are: (1) Much of the measured trade effect is through FDI rather than cost, as the theory of FDI would indicate, and that studies which concentrate on cost as the channel significantly understate the extent of such expansion. 2) On the whole bilateral country level, outward FDI has a larger predicted impact on Chinas exports than does inward FDI. On the other hand, inward FDI is found having a larger predicted impact on Chinas imports than does outward FDI. (3) There is much cross-regional variation and differences in the patterns of FDI-trade links. Regarding to the impact of inward FDI on Chinese trade, FDI is found to boost both export and import growth in Asia, Europe and Oceania. As far as outward FDI is concerned, a unanimous complement link between FDI and trade exists only for Asia, and Africa. (Yong, 2003) The work undertaken in this paper is an improved one because it takes into account all the aspects related to the FDI including a set of countries which contributes towards the FDI in China India, the contribution made by this paper is in more fully evaluating an important policy question regarding the effect of FDI. Second, it takes into account national changes both in inward FDI and outward FDI over a considerable period of time.

History of the Black Lives Matter Movement

History of the Black Lives Matter Movement A Change Overdue Throughout history, protesting and standing up for a cause has been very common. It’s essentially a part of American history. However, some make bigger impacts than others.   Peter Katel states in his article titled Racial Conflict, â€Å"Three words — Black Lives Matter — have sparked a new argument over race in America. Demonstrators chanting and tweeting that slogan have protested the deaths of African-Americans, many of them unarmed, at the hands of police officers — most of them white — in cities across the country in the past two years.† (15) The Black Lives Matter movement has fueled the fire for the discussion of racial equality in America. Most people felt, before the rise of the movement, that this topic of discussion was not necessary to discuss. The idea was that racism was non-existent in America and was not as bad as previous years throughout history. The movement has become very controversial and has resulted in some changes regarding police procedures but also an increased amount of violence in the black community. There are differing moral and political opinions, therefore the issue has no resolution as of now. Opposition has always been a part of American politics, but it is believed that Donald Trump’s election has sparked a larger era of protests. In an article titled Citizen Protests Alan Greenblatt says, â€Å"Fueled by social media, demonstrations have arisen over Trump administration policies on such issues as health care, climate change and immigration. Meanwhile, alleged police brutality and the removal of Confederate monuments have aroused mass protests, some violent.† (1) The size of today’s protests is reminiscent of the many protests in American history and especially the civil rights movement of the 1960s. The United States was founded in an act of protest, a rebellion against British colonial power. The Revolutionary War was followed by protests, such as the Boston Tea Party in 1773.Greenblatt goes on to say, â€Å"There was no time in American history when all views could be aired without some restrictions†¦There have always been some views that so me people thought were so repugnant and dangerous that they couldnt be allowed to be heard.† (8) The recent opposition of Trump’s presidency and protests related to Black Lives Matter follows right along with the U. S’s history of mass demonstrations. Today’s racial tensions began in the trans-Atlantic slave trade. New attention was focused on dangers to black males in 2012 when a neighborhood watch volunteer kills black teenager Trayvon Martin in Florida. The slogan Black Lives Matter first showed up in media reports after the 2014 shooting of black teenager Michael Brown by Ferguson, Mo police officer Darren Wilson, resulting in Brown’s death. A series of mass demonstrations grew into the Black Lives Matter movement after multiple unarmed black men and boys were killed by police in New York City, Ohio, North Carolina, etc.   Criticism of the movement grew as African Americans became more violent towards police. Incidents include the December 2014 killing of two New York City officers and the September 2015 shooting of Houston Deputy Sheriff Darren Goforth. This sparked a counter position labeled as Police Lives Matter. Today’s conflicts between police and African Americans have stimulated debate about the larger issue of race in America. Over the past three years, the rise of the Black Lives Matter movement has inspired protests across the country against police violence. Some were continual over several weeks and drew a massive, militarized response from law enforcement. Some cities who held these massive demonstrations include: Ferguson, Mo, Baton Rouge, Louisiana, and Baltimore, Maryland. Collier Meyerson stated in an article titled When Protesting Police Violence Puts you in the Crosshairs, â€Å"†¦SWAT teams equipped with tear gas, armored vehicles, and rifles patrolled the streets, and protesters were subject to mass arrests and police brutality. In Ferguson, 10 days of protesting led to 150 arrests—80 percent of them for failure to disperse. Nearly 200 protesters were arrested in Baton Rouge. In Baltimore, a group of aggrieved residents sued the city† (20). Advocates for the Black Lives Matter movement argue that the emergence of the movement is mainly due to the impacts that police brutality and injustice in America has had on people of color. The impact is not only emotional but psychological as well. Over the past two decades, the militarization of police forces has given black Americans more to fear. â€Å"With current technology, police killing of Black people is recorded for public scrutiny and consumption. Access to these videos has led to unprecedented public discourse on what constitutes brutality, its connections to White supremacy, and the consequences for Black lives† (Alang 662). After the terrorist’s attacks in 2001, because of the severity of the attack on the country, police resources increased massively. Police officers now are trained as if they are in the military and use military strategies to manage protesters. Poor treatment by law-enforcement officers has been a reality of African-American life since before the United States existed. Even after the success of the civil-rights movement, police brutality and discrimination in the criminal-justice system didn’t end, they just became hidden. Over the course of the past three years, the emergence of the Black Lives Matter movement has inspired protests. According to the U.S. Bureau of Justice Statistics, Today, black men are six times more likely to be incarcerated than white men, and black women more than twice as likely as white women. Black men are three times more likely than white men to die at the hands of law enforcement. While advocates of the Black Lives Matter movement argue that the movement is a positive, productive way towards change that brings awareness to the racial tensions in America, opposers of the movement believe the movement promotes violence and is wrong and could even be classified as a hate group. Most opposers believe that both sides are to blame for the violence that comes from protests and rallies related to Black Lives Matter. Recently, Donald Trump stated that he agrees with the idea that both sides are to blame for violence. Trump’s election brought a new agenda for the movement’s opposers. Efforts were made to undo the things done during the Obama administration. The views of Trump brought on a debate from advocates and opposers of the Black Lives Matter movement. â€Å"As the 2016 presidential campaign unfolded, BLM activists gained a reputation for using disruption as a way to push the movement’s key issues† (McLain 13). The Black Lives Matter Movement has created a conversation within the country as well as across the world. â€Å"Black Lives Matter represents one of the most influential and controversial of the contemporary protests movements.   Much of the controversy is connected to misunderstanding, distorted portrayals, and attempts to discredit the movement† (Hoffman 596) Most minorities in America believe The Black Lives Matter movement should be recognized and challenged. During the civil rights movement, students protested and created movements like the Freedom Rides, people young and old marched on Washington, and many activists spoke out against injustice and locked arms with black men and women to demand change. In this era where racial tensions are at a high because of recent events, each of us should think about how we can effect change in all our communities and work to make it happen. It is time to speak up and speak out against injustice and wrong As Dr. Martin Luther King Jr. said: The ultimate tragedy is not the oppression and cruelty by the bad people but the silence over that by the good people. Work Cited Alang, Sirry, et al. Police Brutality and Black Health: Setting the Agenda for Public Health Scholars. American Journal of Public Health, vol. 107, no. 5, May 2017, pp. 662-665. EBSCOhost, doi:10.2105/AJPH.2017.303691. Greenblatt, Alan. Citizen Protests. CQ Researcher, 5 Jan. 2018, pp. 1-24, library.cqpress.com/cqresearcher/cqresrre2018010500. Hoffman, Louis, et al. An Existential–Humanistic Perspective on Black Lives Matter and Contemporary Protest Movements. Journal of Humanistic Psychology, vol. 56, no. 6, Nov. 2016, pp. 595-611. EBSCOhost, doi:10.1177/0022167816652273. Katel, P. (2016, January 8). Racial conflict. CQ Researcher, 26, 25-48. Retrieved from http://library.cqpress.com/ McClain, Dani. The Future of BLM. (Cover Story). Nation, vol. 305, no. 8, 09 Oct. 2017, pp. 1216.EBSCOhost, libraries.ou.edu/access.aspx? url=http://search.ebscohost.com.ezproxy.lib.ou.edu/login.aspx?direct=true&db=aph&AN=125280009&site=ehost-live. Meyerson, Collier. When Protesting Police Violence Puts You in the Crosshairs. Nation, vol. 305, no. 16, 18 Dec. 2017, pp. 16-21. EBSCOhost, libraries.ou.edu/access.aspx? url=http://search.ebscohost.com/login.aspx?direct=true&db=aph&AN=126492359&site=ehost-live.

Christian & Pagan Influences :: Essays Papers

Christian & Pagan Influences There are Christian influences in the episode of "Grendel's Mother's attack." Primarily, the Christian influence is seen Norton text(43): Grendel's mother, woman, monster-wife, was mindful of her misery, she who had to dwell in the terrible water, the cold currents, after Cain became sword-slayer of his only brother, his father's own son. Then Cain went as an outlaw to flee the cheerful life of men, marked for his murder, held to the wasteland. From him sprang many a devil sent by fate. Grendel was one of them, hateful outcast who at Herot found a waking man waiting his warfare. There a monster had laid hold upon him...Then he went off wretched, bereft of joy, to seek his dying place, enemy of mankind. And his mother, still greedy and gallows-grin, would go on a sorrowful venture, avenge her son's death". Grendel is the spawn of the greatest sin in the Anglo-Saxon era -- fratricide. Fratricide is the slaying of one's own brother. Cain was cursed by God, forced to have hardship in tilling the soil and was given a mark on his head. God's wrath would not allow Cain to abandon his sin, by death, and his curse carried on throughout the life of mankind. To read the complete story of Cain and his brother Abel, click here The sin of fratricide did not only mean blood-related family, but applied to the murder of kinsmen. This portion of the Norton text deals with Beowulf and his root to God's grace: ...but he was mindful of the great strength, the large gift God had given him and relied on the Almighty for favor, comfort and help. By that he overcame the foe, subdued the hell-spirit. This quotation provides a sense of Christian values and shows the hero's dependency on God. According to the poet, Beowulf realizes that his strength comes from the Almighty rather than from his own merit. Beowulf is shown as a brave warrior.

The Plant World Essay -- Environment, Plant Species, Plant Communicati

Introduction Plants exhibit exceptionally intelligent behaviour when it comes to interactions with their environment. They can detect perceived threats, then convey warning signals to other plants via chemical signaling. Forewarned plants will then assemble their defenses against these potential threats, thus, increasing their chance of survival and reproduction. Communication and competition are common occurrences among the plant world. Another brilliantly, almost inconceivable capability plants possess is the ability to recognize coexisting family members within their home range. These intelligent life forms realize that if family members compete less with each other by allocation of their resources, their group will do better overall. This is a strategy utilized by many species, especially plants, to eliminate competition within their community in nature (Mancuso 2006). Competition can occur between members of the same or different species. The involved individuals are negatively affected by other individuals that have the same living requirements, such as food or space. Inter-specific competition transpires when members of different species compete for a particular resource. Intra-specific competition arises when members of the same species compete with one another for a particular resource (Encyclopedia Britannica 2010). In this experiment we concentrate on inter-specific competition. We measured the effect of competitor density on the growth of plants in order to observe the outcome of inter-specific competition. In set one (of two), our group utilized allelopathic rye grass (Secale cereal L.) as our competitor species. In set two, we made use of non-allelopathic oats (Avena fatua var. sativa) as our competitor spec... ...ass soil. This demonstrates that a pathogen may influence allelopathy between plants and that rust may enhance ryegrass allelopathy against clover (Mattner 2001). Our results supported the alternative hypothesis which states that the density and weight of rye or oats (competitor species) had a significant effect on the 1/w of the clover (indicator species) under normal conditions. This proves that non-legumes win when in an inter-specific competition with a legume species and allelopathic chemicals negatively affect indicator species during inter-specific competition (Cain 2008). Errors that could have occurred when designing this experiment include possible uneven distribution light, water, or temperature fluctuations. For future research I would suggest observing the effects of allelopathy and symbiotic bacteria among different legume and non-legume species.

American Gothic Literature Essay

American gothic literature became popular in the 19th century when writers started to captivate reader’s attention with stories of mystery and tragedy. This literary scheme was most effective due to it being able to compare real society in a more bizarre sense. In all great Gothic stories, the writer is proving a point on what society needs to realize. In Hawthorne’s â€Å"Young Goodman Brown† (553), Hawthorne shows the journey of a young man who is slowly being corrupted and robbed of his innocence. In this story, Hawthorne also uses symbolism to provide mystery and hint at the meaning of the story of society’s corruptness. Although, American gothic literature was one of the first types of popular American literature, the literature was influenced by earlier gothic writers. Who started to invent gothic literature, which was developed around 1800 in Europe. These earlier writers, such as Shelly who wrote Frankenstein and other stories of tragedy and horror, influenced the American gothic writers, such as Poe and Hawthorne, to write their own renditions of gothic literature, thus birthing American gothic literature. There are many different schemes which go into making a good work of gothic literature. First off the point of view, point of view is such a vital part to the story because the point of view helps provide mystery and foreshadowing which are both important to gothic literature. Gothic literature also interprets chaos in society mostly by exaggerating stories. In addition Gothic literature usually goes from good to bad giving the reader no dynamic character, and ultimately producing a tragedy, which creates the whirlpool where the protagonist is slowly sucked into by the antagonist. All these schemes are all important to gothic literature and are integrated with symbolism and foreshadowing, creating mystery and allowing the reader to think of the true meaning of the story. For example in Poe’s â€Å"The Fall of the House of Usher†, (149) the story is on a drastic down fall from the beginning, when the protagonist Roderick Usher, calls his friend to come over while he is sick. Roderick already starting off the story as a little mentally ill slowly starts to become more insane. Roderick is affected by his gloomy, near destroyed house and his marriage with his own sister, which creates love and tragedy. The true climax happens towards the end when Roderick buries his sister alive purposely to avoid his marriage. His actions then resulted in the death of himself, and the fall of the house, which Poe uses to show the fall of the Usher family, thus providing the reader with a whirlpool effect, no character growth, and ultimately chaos. This form of gothic literature was not only popular in the 19th century though. American gothic literature began to grow and is still loved by many readers today. These early writers inspired new writers such as Stephen King and many others to create their own works of gothic. In fact, many horror films provide the same schemes that these earlier writers provided. Providing the reader or viewer the same mystery and chaos Poe provided earlier on. In conclusion American gothic literature is a prolific form which captivates many people’s attention with its view on society. With the usage of different forms of symbolism and other literary schemes enhancing the readers experience. This form of literature has been so effective, that American gothic literature still exists today, and still has the same effect it used to. Now even more so in films the type of literature truly has a way of captivating the reader’s attention by providing such a suspenseful experience.

Summary Response Essay Instruct

In the article, Blinder cites reliable evidence to successfully argue his opinion that the American education system needs to be revised in order to better prepare workers for employment in the current market. In the first section of the Blinder article, he starts off talking about much education one should accomplish. Blinder states, â€Å"In a progressive society, such as worrisome social phenomenon might elicit some strong policy responses, such as more compensatory education, stepped-up efforts at retraining, reinforcement of the social safety net† (Blinder 9).Americans are shredding the safety net; they keep on taking away reinforcements that help pep the playing field â€Å"fair. † According to Blinder, an effect of this is Social Darwinism, where the work force has become survival of the fittest. Employers are looking for people with a high level of education and good people skills. Having good people means being able to communicate well with others; it is a soft skill you must acquire. Later on in the article, Blinder talks about offspring. In the article he explains that offspring is, â€Å"the movement of jobs overseas† (Blinder 9).Countries with lower wages are taking jobs from Americans. Blinder talks about three reasons why jobs are becoming offshore. The first reason is because of â€Å"simple arithmetic. † The second reason is because of the growth in technology; people are now able to do jobs across seas in an efficient manner. This has a negative effect on American workers, because that means fewer job opportunities. Lastly, the number of workers overseas is growing rapidly, and these workers are willing to work longer hours, for lower pay, with few, if any, benefits. Blinder then goes on to talk about different types of jobs.Next in the article, Blinder discusses the different between personal and impersonal jobs. The higher paying jobs are the personal services that roved a specific service that cannot be provided remotely, like a plumber or a hair stylist, for example. He goes on to talk about how the American system of education is not preparing children the right way in school. Schools have them so focused on studying and memorizing for standardized testing instead of personal people skills. Blinder says how, â€Å"starting in elementary schools, we need to develop our youngsters' imaginations and people skills† (Blinder 12).In the end he talks about education needs to better prepare children for the kinds of personal service jobs that cannot be exported. Blinder did a good job explaining his points about the workforce and about how it is changing. With every problem he presented, he argued and discussed a plan to improve that problem. For example, in relation to the personal service jobs, he wants to start children off earlier with learning people skills. Throughout the article, Blinder did not use any confusing words or ideas; he was straightforward and explained himself. He did e xpress his opinions, but they did not come off too strong or heavy-handed.His opinions are supported with evidence and his article is written professionally, leaving he reader clear about what he was trying to say. I agree with what Blinder is talking about in the article. We need to push kids to get a college degree, not for the quantity of education, but for the quality. In America, we push kids to memorize and pass standardized tests that do not help them prepare for the future. Kids need to be learning how to apply what they learned in the real world and how to use that information to interact with people. The truth is, personal jobs are higher in salary. For example, think about doctors.Many medical specialists are foreign; many alienated individuals come to the United States to take advantage of our excellent programs in higher education and stay in the U. S. For work. While I have no problem with this, I also worry that our early education system is failing students since few er and fewer are achieving the kind of advanced education required to be a medical specialist or something similar. Have never lost a job to someone overseas, but my best friend had to move because her dad's job was offshore and they had to relocate for him to look for work. I want to be a special education teacher, which is a personal service, for now.It scares me with all this growth in technology. Look how many online schools there are now. Will one day in the future there be no teachers, just assignments on a computer screen? We need to learn from the past and use it to prepare for the future in order to be successful in the workplace. What if your job is exported? In the article, â€Å"Will Your Job Be Exported,† by Alan S. Blinder, he discusses how job exportation has become an unfortunate reality for so many Americans. Many people are losing jobs to people from other countries. Americans have to fight to keep personal service jobs versus impersonal services.

Determining the Accounting for Receivables from Officers and Directors Essay

Philadelphia Communications Inc. (â€Å"Philly†) is a public company that completed an initial public offering (IPO) a few months ago. John Sigar is the current CEO and member of the board of directors. He is the only family member involved in the business and owns significant amount of the company’s stock. While, we were doing audit testing for accounts receivable we came across number of Notes Receivable from several Mr Sigar’s cousins. They have taken advances frequently but never failed to pay when they came due. The notes are secured by shares of Philly’s convertible preferred stock, which were purchased by the family members following IPO. The receivable support provided by the client doesn’t specify interest payment terms for these notes. During our preparation to test accounts receivable we reviewed the Financial Accounting Standards Board (FASB) Accounting Standards Codifications (ASC) and identified special presentation and disclosure requirements for these sorts of receivables. We also reviewed above described situation from International Financial Reporting Standards’ (IFRS) standpoint. When determining the accounting for receivables from officers and directors, special treatment of these cases must be accorded. The case for Philly refers to related parties transactions, which would require special disclosure in the financial reports. The receivables that is provided by Philadelphia Communications Inc. does not give specification concerning both the terms of payment and the interest payable on these notes. Testing for Accounts Receivable in Philly Case. According to Financial Accounting Standards Board (FASB) codifications, there are a number of codification references that are applicable to the Philly case. One applicable reference is FASB ASC 850-10-50-1 on related party transactions. The FASB code 850 discusses the disclosures that are required to be made concerning related parties. This reference provides the legal and applicable definition of what related party transaction entails. This reference also outlines the disclosure that is required to be made. One of the disclosures is the nature of the involved relationship. The description of the transaction including the dollar amounts, period of transaction, amounts due, and the due date must be disclosed. Disclosing transactions in financial statements that were eliminated while preparing consolidated financial statements is not mandatory. FASB ASC 850-10-50-2 is another codification reference that is applicable to this case. This reference discusses the notes and accounts receivables. This is the principal and direct reference that relates to the Philly case in question. The notes and accounts receivable mentioned under this codification reference are particular to the employees, officers or other entities that are affiliated to the company. For the case of Philly, notes are transacted between Philadelphia Communications Inc. CEO and the cousins. FASB ASC 850-10-50-2 requires notes or accounts receivable from related parties to be separately shown. Any effects that arise from a change in method of determining the terms of transaction from the previous period must be disclosed. It states that this transaction should not be included under notes and accounts receivable general heading. Philadelphia Communications Inc. October 19, 2013 Page 2 Another applicable reference is FASB ASC 850-10-15-2. This codification reference stresses on the requirement that the guidelines on disclosure for related parties is applicable to all entities. It does not matter if it is a private entity or public company like in this case. The financial reports must provide disclosure for the transactions. FASB ASC 850-10-50-5 discusses issue concerning disclosure of transactions that occur at an arm’s length base. This reference states that it cannot be presumed that related parties’ transaction are undertaken on an arm’s length basis. This is because the market conditions that competitive and free might not exist. This describes the relationship evident in the case of Philly’s transaction with the CEO’s cousins. Any form of representations concerning CEO’s cousins and Philadelphia Communications Inc. does not mean that, the transactions were executed on terms applicable at arm’s length. It can only be presumed so if and only if the representations of the transactions can be substantiated. The company management should supply more additional information concerning the notes and receivable concerning related parties for further clarifications. The management should provide the names of the parties issued with the notes that are secured by convertible preferred stock purchased by family members. This is per the requirement of FASB ASC 850-10-50-4. The management should also provide information concerning related parties transactions to help in comparison of financial results with the past. The payments terms and the interest accruing to such notes and receivables should be specified and provided by Philly. IFRSs Standpoint. The International Financial Reporting Standards (IFRS) also recognises related party transactions. This is given as per the explanation under IFRS International Accounting Standards (IAS) 24. It describes a related party as involving an entity that is heavily influenced by a person transacting with a close family member. The Member of the family transacting with the entity must have significant influence on the person by the one having ownership in the company. For this case, the cousins have significant influence on the CEO of the company thus establishing a related party relationship. IFRS IAS 24 requires the firm to make certain disclosures. It requires that the total amount involved, and the nature of the transaction be disclosed in the financial statements. The outstanding amounts should also be revealed stating the terms and all conditions relating securing and settling of the notes and receivables. The disclosures should also include information regarding the guarantees made. The IFRS also demands that any provision made for doubtful debts arising from this transaction should be disclosed. Conclusion The Philadelphia Communications Inc. in its operation, have related party transactions. These transactions involve the issuance of notes to close relatives of the CEO of the company. The Financial Accounting Standards Board (FASB) requires that activities must be disclosed. The Philadelphia Communications Inc. October 19, 2013 Page 3 FASB has well explained the information that the management should consider when presenting their financial statements. The management should also improve its operations and provide further data concerning the parties they are regularly trading. Adoption of the FASB and IFRSs will ensure that all financial statements are truly and fairly presented. References FASB. Related Party Disclosures. Retrieved from Accounting Standards Codification: https://asc. fasb. org IASB. Related party disclosures. Retrieved from IFRS: http://www. ifrs. org

Deutsche Brauerei Essay

Deutsche Brauerei was founded in 1737 and has been in the Schweitzer family for 12 generations. The company produces quality beer and has won awards over the years and is owned entirely by 16 uncles, aunts and cousins. In 1998, Deutsche Brauerei expanded into Ukraine. Despite the Russian debt crisis, the popularity of Deutsche’s beer increased its sales greatly and within three years of launch, Ukrainian consumers accounted for 28% of Deutsche’s sales. Furthermore, most of the unit growth in sales during that time period was also contributed by Ukraine. In an attempt to market the beer even more aggressively, Lukas hired Oleg Pinchuk, a marketing guy who understood the Ukrainian markets and had previous experience of marketing beer for a major Ukrainian beer producer. In the following report, we aim to evaluate the past and prospective financial performance of the company, dividend policy and to critique its liberal credit and inventory policies. An appropriate compensation scheme will also be recommended. Adoption of a Compensation Scheme for Oleg Pinchuk It is our belief that Oleg Pinchuk does deserve an increase in his compensation package to provide incentive for him to stay and provide future results. His strategies for setting up infrastructure in the Ukraine have been fundamental to the company’s sales growth. We are also concerned that some of his current policies may not be profitable and are taking on too much risk as the economy shows signs of a recession. Also, we highly recommend that the design of the compensation package be changed as it currently creates a large agency problem. In 1998, Deutsche Brauerei employed Oleg Pinchuk as the Company’s Sales and Marketing Manager. Previously Pinchuk has worked for a major beer producer in the Ukraine giving him invaluable insight into the industry and environment. The main goals he was placed with was to market Deutsche Brauerei’s beer more aggressively while taking advantage of the large opportunities existing in Central and Eastern Europe. â€Å"Our beer almost sells itself; discount pricing and heavy advertising are unwarranted. The challenge is getting people to try it and getting into a distribution pipeline. † Pinchuk quoted. Initially in 1998, Ukraine had no beer distributors, presenting a large problem – the company had no means of distributing the product amongst ustomers. Distributors in the Ukraine had no capital and could not receive financing from banks to set up their business because they had no collateral, low profits, negative cash flows and were seen as a high risk. They were also not able to bear the credit terms that were currently implemented on the German distributors . This is where Pinchuk’s strategies have been essential for our expansion into the Ukraine. Pinchuk, on a small budget, managed to organise five distributors and set up warehouse arrangements. He relaxed the credit policy for the Ukraine distributors from 2% 10, net 40 to 2% 10, net 80 – essentially financing their business and making it possible for them to set up and operate. Carrying a substantial part of the distributor’s inventory also took pressure and costs away from the distributors while making it possible to respond rapidly to changes in demand. These strategies have increased customers in the Ukraine from 0 to 211, with even more expected in 2001. For Oleg’s strategies to be implemented, the business has required large working capital investments. Particularly in accounts receivable where days in receivables is nearly 90 days. We believe that Pinchuk’s analysis of the return on investment has been overstated because he hasn’t taken into account the investments in inventory and capital expenditure that would also be needed. Exhibit 3 shows our adjusted analysis of the return that the business is receiving after taking into account changes in inventories and capital expenditure. We assumed that 85% of changes in inventory and 90% in capital expenditure were attributed to investment in the Ukraine. These assumptions are explained in the exhibit. Our results still produce a high return of 42% in the year 2000 which is much higher than the cost of financing long-term debt at 6. 5%. Notably, these investments are risky and the company needs to compare the return to their risk adjusted cost of capital for the Ukraine and not the cost of financing the debt to see if it is worthwhile. Exhibit 4 gives a good analysis of how these policies have affected the business’ performance and situation. Although sales growth has been consistently large, operating profit margin has decreased overall since his strategies were implemented. Return on equity and net assets have increased and in the year 2000 were 10. 3% and 8. 4% respectively. This is a good result for the business and shows efficient management of assets. It seems that Pinchuk’s strategies were possibly harmful to the business by decreasing the profit margin and taking on a lot of risk. It is our belief that the credit policy should not be relaxed and could even be tightened to less than 80 days. Unfortunately, reducing risk by tightening the policy would be accompanied by a decrease in sales. Although Pinchuk’s strategies have been potentially damaging, we do believe that he deserves an increase in his salary for expanding the company despite facing difficult conditions. His current compensation package is a base salary of EUR40,000 plus an incentive payment of 0. 5 % of sales growth. The current compensation package provides Pinchuk with an incentive to pursue projects that are risky to the company like extending large credit to distributors who are unable to pay it back. This would increase sales, thus increasing his salary, but would have a negative effect on both profits and the company. His incentive payment needs to be aimed more at collection and profits rather than sales growth. Our recommendation is to increase his base salary to EUR50,000 and have his incentive payment tied to annual profits (0. 6% of the annual increase in profits). However, in our recommended financial plan for 2001, there is a projected net profit of EUR 2,712,000. This is a decrease in profits from the previous year and would imply that Pinchuk would receive no incentive payment for 2001. Hopefully this would motivate him to increase the following year’s profits by revising his marketing and collection strategies. Analysis of Dividend Declaration Traditionally, DB pays out 75% from earnings as dividends each year to shareholders. At the moment, the company has a cash shortage as it is holding high levels of inventory and is extremely relaxed in credit terms for their Ukrainian distributors. Paying out dividends at 75% would mean increasing debt in order for the company to fund their proposed investment in a new plant. This would add strain on the already huge short-term debt that they have taken on. The possibility of a financial downturn in 2001 adds to the uncertainty of an increase in profits as projected in the financial plan. Guaranteeing that the company will pay out EUR698,000 in dividends might be too risky. Rather than rely on more bank borrowings, Deutsche Brauerei should retain more earnings to cover their bank borrowings and to also finance their future investments and projects. In addition, should there be a financial crisis, the retained earnings would help to cushion the impact from the crisis. As most of the shareholders are older members of the Schweitzer family, and are retirees who depend on the dividend payout, reducing the dividend payout might cause some upset. However, paying out a dividend percentage of 75% is causing more harm to the company. By reducing this percentage to 60%, the company is able to retain 40% of their net profits for reinvestment and financing future projects. These retained earnings would also help ease the problem of their current cash shortage. Dividend Payout| 50%| 60%| 75%| | 2001| 2002| 2001| 2002| 2001| 2002| Net Income| 2712| 3439| 2712| 3439| 2712| 3439| Dividends| 1356| 1720| 1627| 2063| 2034| 2579| | | | | | |   | Retention of Earnings| 1356| 1720| 1085| 1376| 678| 860| The table above shows the changes in retained earnings according to the changes in dividend percentages – the higher the dividend payout, the lower the retained earnings. It is recommended that, in the first quarter of 2001, the company should pay out the same amount of dividends which the shareholders received in 2000 (EUR 546, 500). It should be explained that if the forecast for 2001 is correct, and there is no financial crisis, the shareholders can expect a larger dividend payout in the next quarter. From our recommended financial plan (i. e. net profit is EUR 2,712,000), paying out dividends of 60% would mean that the shareholders can expect to receive a payout of EUR 406,800 in the second quarter. Analysis of Deutsche Brauerei’s 2001 Financial Budget One of the main concerns for Deutsche Brauerei’s financial budget for 2001 is its heavy reliance on short-term debt financing. This is mainly due to operating strategies, policies, large sales growth, dividends and capital expenditure being financed through working capital. These have all attributed in draining the company’s cash and causing the business to finance the investment through working capital using short-term borrowing. The overall reliance on debt financing has stayed around 42% (debt/total capital ratio, Exhibit 4). The main borrowing used by Deutsche Brauerei has been short-term debt, so the company has incurred a large cash drain. Short-term debt requires fast repayments to be made and normally charge a higher interest rate than what is charged on long-term debts. Short-term bank borrowings have increased dramatically from 1997 to 2000 and are projected to increase further in 2001 and 2002 (Exhibit 1). As for long-term debt, it has been steadily decreasing since 1997, further showing Deutsche Brauerei’s heavy reliance on short-term debt as their main source of financing. The 80-day credit policy given to Ukraine distributors has resulted in large increases in sales and accounts receivables. Exhibit 4 shows a large growth rate in sales and receivables mainly from the Ukraine. In 1998, accounts receivable in the Ukraine were EUR 424,000 and by 2000 have dramatically increased to EUR 6,168,000. In comparison with Germany, the Ukraine accounts receivable has grown at an extremely large rate. This is mainly due to the fact that most of the new Ukrainian sales are on credit. The credit policy gives distributors 80 days to pay, but in reality, in 1999 and 2000, the days in receivables was 85. and 87. 1 respectively. The fact that it is taking such long periods of time to receive cash from sales is forcing Deutsche Brauerei to finance working capital in other ways such as short-term borrowing. The company also holds a large amount of inventory for the Ukraine distributors. This requires extra investment in inventory and that this inventory is held for longer . This results in it taking even longer to receive cash from our investment, thus increasing the already stretched cash conversion cycle. Exhibit 1C shows that Deutsche Brauerei’s inventories have been steady right up until 1999 and have approximately doubled. The large dividend payout ratio has also resulted in the increased use of short term financing. Although the business has substantial profits to pay out these dividends, the cash is already tied up and these payouts have required more short term financing. The business’ 25% plough back ratio is not sufficient for reinvestment, requiring even more future borrowing to pay for capital expenditure. Capital expenditure of EUR 7 million has been forecasted for both 2001 and 2002, requiring even more short-term borrowing. To prevent large cash drainage in the upcoming years, Deutsche Brauerei needs to re-evaluate their debt financing choices. Long-term debt should be considered as an alternative to short term debt. Not only will this decrease the strain on the company’s cash, it will also allow for the investment in a new plant and equipment for 2001 because of the availability of funds. Long term debt can also be used in 2002 as a source of financing for the proposed new warehouse. Since the cost of the warehouse is considerably high (EUR 6. 8 million), it would be unwise to finance it using short term debt, thus, long term debt would be the appropriate choice. Proposed Amendments to 2001 Financial Budget: To produce more accurate predictions for the coming year, there are some amendments that need to be made to Pinchuk’s forecasts and assumptions. Firstly, in Pinchuk’s financial plan, sales growth in Germany and Ukraine were projected to be 3% and 45% respectively. Germany’s growth is believed to be a fair representation but the predicted sales growth for the Ukraine seems to be overestimated. New projects initially have large growths per year but they also decrease rapidly. In 1999, actual sales growth for the Ukraine was 312% but in 2001, Ukraine’s actual sales growth was 47%. Therefore, for the year 2001, it is believed that sales growth should decrease to a figure considerably less than 45%, for example, 30%. Also, the operating margins seem to be optimistically high at 7%. An average of the operating profit margin from the past 4 years is 6. 88%. This is possibly still too high in comparison to Germany and Ukraine’s operating margins of 6. 10% in 2000. Our recommendation is to use 6. 1% again for 2001 because you would not expect operating profit margin to increase if the predicted global recession occurs. We have also changed the dividend payout policy to a recommended 60% as explained earlier in the dividend declaration section. Increasing the credit policy in the Ukraine to 90 days could be seen as a very risky strategy to pursue especially with the current signs of a global financial crisis. Sales would increase in terms of accounts receivable but the company already stands to lose a lot of money if distributors start to default. A financial crisis would cripple the distributors in the Ukraine and they would be forced to default their accounts. It is suggested that the policy should be left at 80 days to prevent that potential loss. It is also suggested that allowance for doubtful debts should be increased from 2% to 6% to account for the potential recession. As mentioned earlier, it would be wise to tighten the policy rather than let it increase to 90 days in 2001. A sensitivity analysis on allowance and net profit was undertaken in Exhibit 2C, the purpose of this analysis is to determine how net profit would change given our assumption for the allowance of doubtful debt. Pinchuk assumed in his projections that the allowance percentage for the year 2001 is going to be 2%. However, it is believed that this is a considerably low percentage and should be increased to 6% to account for the potential recession as mentioned above. Our sensitivity analysis yielded the following results, in 2001 – if the allowance percentage is set at 2%, then net profit would be EUR 3,083,000. On the contrary, if the allowance is set at 6%, net profit will decrease to EUR 2,712,000. We believe that this decrease will account for the potential recession that may strike in 2001. The company is also advised to take on some long-term borrowing as well as reducing their investment in working capital. This will reduce the reliance on short-term borrowing. It is believed that the firm should get a long-term loan of EUR 14 million because under our assumptions, it would reduce short term borrowings to EUR880,000 which is significantly less than the firms forecasted cash of EUR12 million. This would get rid of the firm’s short-term borrowing reliance and greatly enhance the firms liquidity. Exhibit 2D shows a sensitivity analysis of the effect of changing the quantity of long-term debt and the effect dividend policy has on short-term borrowing required in 2001. Keeping the current dividend policy of 75% and under the assumption the firm borrowed EUR 14 million, short-term borrowing would be EUR 1,292,000. Reducing the payout to our recommended ratio of 60% would reduce short-term borrowing to EUR 881,000. Reducing the ratio to below 30% would eliminate the need for short-term borrowing in 2001. Though due to the large quantities of cash the firm has, eliminating short-term debt completely is redundant. Exhibit 1A shows our forecast of Deutsche Brauerei’s income and balance sheet for 2001. We believe that net income for 2001 will be just over EUR 2,712,000 which is about EUR 1 million less than Pinchuk’s forecast. We have incorporated all our suggestions of policy changes including a long-term loan which will help finance the planned capital expenditure for 2001 as well as fix the current cash problem. Recommendations for Deutsche Brauerei Firstly, in regards to a compensation scheme for Oleg Pinchuk, it is recommended that his base salary of EUR 40,000 to EUR 50,000. Also, instead of having his incentive payment be 0. % of sales growth, it is suggested that the incentive payment be 0. 6% of annual growth in profits. This implies that Pinchuk might need to reconsider his marketing and collection strategies. However, it is believed that this would give him the motivation to increase profits every year and this is beneficial to both him and the company. After our analysis on dividend payouts, it is recommended that the company reduce the dividend payout ratio from 75% to 60%. This would enable the company to retain more earnings for future investments and also to cover their short-term borrowings. This also improves their current cash shortage situation. Lastly, it is recommended that several changes be made to Pinchuk’s proposed financial budget for 2001. Instead of a predicted growth rate of 45% for sales in the Ukraine, it is recommended that a more conservative figure of 30% is used. Also, instead of using an operating margin of 7% for both Germany and Ukraine, an operating margin of 6. 10% should be adopted for 2001. In addition, instead of relaxing credit terms from 80 days to 90 days, the company should keep it at 80 days and aim to reduce that in the future. It is also advised that the company take on a long-term loan of EUR 14 million for the building of the warehouse. Lastly, it is recommended that the allowance for doubtful debts be increased from 2% to 6%. These proposed changes take into account the possible recession that may take place in the coming year. Overall, Deutsche Brauerei has been successful in its expansion into the Ukrainian market despite difficult conditions. With slight changes to their current strategies, the company has the potential to achieve even greater success.