Analysis Of Private Equity Funds Essay Example Pdf - Free Essay Example

Sample details Pages: 6 Words: 1917 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Tags: Study Essay Did you like this example? A Private Equity (PE) fund is a fund which invests its money in private equity, usually to gain control over companies in order to re-structure the company. When the fund takes control of a company, it normally takes the company off the market (that is if the company is not private already), restructures the company, and then relists it on the stock market.  [1] A PE fund is raised and managed by investment professionals of a specific PE firm. Typically, a single PE firm will manage a series of distinct PE funds and will attempt to raise a new fund every 3 to 5 years as the previous fund is fully invested.  [2] PE is an asset class of equity shares that are not publicly traded on a stock exchange. Don’t waste time! Our writers will create an original "Analysis Of Private Equity Funds Essay Example Pdf" essay for you Create order It is medium to long-term finance provided in return for an equity stake in potentially high growth unquoted companies. Some commentators use the term PE to refer only to the buy-out and buy-in investment sector.  [3]  Others, in Europe, but not the USA, use the term Venture Capital (VC) to cover all stages of PE. In the USA, VC refers only to investments in early stage and expanding companies.  [4]  To avoid confusion, the researcher has used the term PE throughout this project to describe the industry as a whole, encompassing both VC and management buy-outs and buy-ins. Foreign VC funds have been permitted to operate in India since 1995. Indias PE sector has shown tremendous growth rates. To look at figures, there had been a dramatic increase in fund sizes from US $10 to US $25 million just a few years ago, to between US $400 million and US $ 1 billion in 2007 (before the global economic crisis). The average deal size was around US $25 million, as opposed to US $8 millio n in 2002. These figures clearly indicate the tremendous global interest in the Indian market  [5]  . In the course of the project, the researcher would first try to analyze the sufficiency/insufficiency of the law relating to the PE investment in India. Thereafter, the managerial structural set up of a PE fund shall be discussed. The researcher will then look into the advantages and disadvantages of PE investment, especially in regard to the Indian investment scenario. Regulation of the PE Industry in India Venture Capital Regulation Until 2000, SEBI only regulated the domestic funds vide the SEBI Venture Capital Fund Regulations, 1996 and there was no mechanism to regulate the foreign investors. This put the domestic investors at a disadvantage, especially since foreign investment in most sectors was through the automatic route (i.e. direct exposure by offshore PE funds in shares of unlisted companies was treated as a foreign direct investment and had to be approved in line with the Governments general policy on foreign investments). The Government realized the need to regulate the same. In September 2000, SEBI issued a new set of regulations applicable to offshore funds, called SEBI (Foreign Venture Capital Investors) Regulations, 2000 (the 2000 Regulations). The 2000 Regulations are based on the recommendations of the Chandrashekhar Committee on Venture Capital (January 2000). These regulations were subsequently amended a number of times. As of now, with respect to investment by a foreign VC investor, it is mandatory for the investor to disclose its investment strategy. Prior to the 2004 amendment, the investor was not allowed to invest more than 25 percent of the funds committed for investments to India in one VC undertaking. However, after the amendment, an investor can now invest its total funds committed in one venture capital fund. Another significant amendment was made to sub-clause c of clause 11. Before 2004, an investor had to inv est atleast 75 percent of the investible funds in unlisted equity shares of VC undertaking and not more than 25 percent while subscribing to an initial public offering (IPO) of a VC undertaking. The investments were also subject to a lock-in period of one year. However, subsequent to the 2004 amendment, the percentages have been changed to 66.67% in the first case and 33.33% in the latter. The amendment has done away with the lock-in period requirement and has also introduced a provision for preferential allotment of equity shares of a listed company.  [6]  However, currently there are no legal or regulatory differences between venture capital and PE firms. SEBI is considering the idea of regulating PE funds. Organizational Stipulations in a PE Fund  [7] PE funds have a general partner which raises capital from institutional investors, such as high net worth individuals, pension plans, insurance companies, endowments etc. These economically sound institutional investors invest as limited partners in the fund. This partnership is normally a fixed investment vehicle that is usually ten years in addition to some extensions. Also, a yearly payment has to be made by the investors in the PE fund to the funds manager to pay for the firms investment operations. Moreover, a relatively smaller share of the profits of the investments made by the fund has to be paid (as performance incentive) to the PE funds management company. The remaining profits are paid to the funds investors. However, this payment to the fund manager is subject to the crossing of the hurdle rate (which is the minimum rate of return which must be achieved before the fund manager can receive any carried interest payments). Advantages of PE funds Low Level of Regulati on As there is no public trading involved the regulation levels are low.  [8]  For example if one were to raise funding through a public offering one would have to satisfy several requirements under the SEBI. In addition to management benefits the current regulatory requirements have increased the desirability for many companies to either go private or postpone going public.  [9]  For example, especially in the USA, many business owners cite the costly, inflexible, and invasive disclosure requirements introduced by the Sarbanes Oxley legislation as reasons for forsaking publicly traded status.  [10] Attractive valuation PE transactions are an excellent way for owners wanting to remain private and obtain significant liquidity at an attractive valuation without having to transact an outright sale. In reality, not all PE investments are structured as complete buy-outs or even majority share purchases. Some investments are simply a capital infusion in exchange for a minor ity stake.  [11]  This is often referred to as growth capital as these investments help provide the necessary capital to get companies to the next level without having to turn to the public markets. All of these investments generally result in the PE firm obtaining a seat on the board of directors of the company. Functionally, this not only serves an important monitoring role but also provides added expertise to the board. PE firms either place their own primaries on the board or assign highly qualified business colleagues who provide valuable advice and perspectives. Additionally, since many of these appointees sit or have sat on multiple boards, they can provide the traditional advantages of inter mixing of ideas between companies to bring out better results.  [12]  In a typical PE transaction, the management team will still own a large percentage of the business through a combination of retained ownership and new stock options granted by the investor. Therefore, in three to seven years when the outside investor is ready to exit their investment, the management team will receive substantial additional value for the business.  [13] Low level of interference- In a typical PE transaction, all shareholder guarantees are eliminated and day to day control remains with the management team. While most investors prefer to purchase over 50% of the equity, they have no interest in running the business on a daily basis. In addition to providing liquidity for the selling shareholders, PE firms will provide additional debt and equity capital for internal and external growth opportunities  [14]  . In most PE dealings, the management team has tremendous expansion plans but does not have the resources. These expansion plans could include opening new branch offices, entering a new line of products or services etc. PE investors are more than willing to provide the resources necessary to execute such expansion plans that are strategically sensible. Disadvant ages of PE funds Lack of Liquidity- It is very hard to reconvert shares and this usually ends up as a disadvantage to share holders who invest in PE. It cannot be bought and sold at any time. Since PE funds are not open to investment on the stock market, anybody who wants to sell stocks of a PE fund finds it difficult to locate a buyer. Since PE returns derive from an appreciation in the value of the acquired asset or company, PE investments are often followed by efforts at restructuring to revive loss-making companies or substantially improving the performance of profit-making ones. These efforts are aimed at adding worth to the investment before PE investors exit with a profit. Less appreciated forms of intervention by PE firms are those in which bought out firms are stripped of assets or are broken up so that their parts can be sold to the highest bidder for an aggregate sale price that exceeds the purchase price. PE investments are relatively illiquid, especially in the ea rly years. The usual life of a standard PE fund investment averages three to seven years. Investors in private securities by and large exit their investment and get returns through an initial public offering, a merger, or a recapitalisation. Since the companies are unlisted, investors wishing to exit their PE holding do so by selling the holding to someone else through the secondary market.  [15] Control- One of the major disadvantages of financing through private equity is that the creators must give up some control of their business, which essentially means that in situations where investors have dissimilar ideas about the companys strategy, or routine operations, they can be problematic for the business man. Furthermore, some sales of equity can be very intricate and expensive to manage and may need complicated legal work and a great deal of paperwork to ensure compliance with various regulations, which may necessitate procuring the services of attorneys and accountants.   [16] Conclusion Private equity investment in India fell by almost sixty percent in 2009 as a consequence of the global financial crisis. However, looking at the state of investment prior to the crisis, and the kind of investment that has been flowing in after the markets have revived, the same is a clear indicator of the rapid expansion of private equity in emerging markets like India which have huge growth potential. However, the question that needs to be answered at this juncture is whether India is ready to handle such investments. The researcher suggests the affirmative in this regard, as there is sufficient evidence to see that the size of such investments has grown steadily, not only from domestic but also from foreign investors, over the last decade. The most recent examples of such investments involving massive infusion of capital would be Singapore-based Temasek Holdings investment worth Rs. 880 crore in GMR. Another example would be that of Summit Partners, a 25-y ear-old US based private equity fund (that has $11 billion under management), which made its first investment in India with an infusion of $30 million in agricultural biotech firm Krishidhan Seeds Ltd. In conclusion, the researcher would like to submit that the need of the hour is to ensure a smooth and transparent functioning of such private equity investments to facilitate their robust growth in India. With such rapid expansion in private equity there is a necessity for the regulation of the same. While venture capital is regulated by the SEBI there is a need to regulate all other forms of private equity by framing laws and regulations for the same.

My Favorite Experience In My Life - 1900 Words

As I pranced around my 8-year-old wonderland full of moon-bounces, water slides, balloons, and all the other magical things around me, I fiercely sang along to whatever 80’s song was being blasted on the radio. No one, besides Prince himself, can hit the Purple Rain high-notes as passionately as I can. But as I hear my â€Å"Dada† walk into the room, I immediately quiet myself down. â€Å"Daffy-doo! How do you do!† my Dada yells to me, to which I answer with an eruption of giggles. He didn’t seem to mind that I didn’t answer verbally because all he did was smile at me and continue on with his work as I quietly observed. At this naà ¯ve stage of my life I felt like observing everything and anything equated participating, so observation was my main†¦show more content†¦I knew that I wanted to be someone to help others and I wanted to do something with my life that really meant something just like my dad was doing. I started to get back into all my favorite hobbies as a pastime to take my mind off my parental issues. Reading and music were my safe havens like never before. If I were to ever feel lonely all I needed was to pick up The Catcher in the Rye and project myself onto someone like Holden Caulfield. Music started to hold deeper meanings to me and listening to bands like The Smiths or Fleetwood Mac helped me purge my feelings unlike anything else. I don’t credit my dad for a lot, but I do think had it not been for his mistakes I wouldn’t have found my interests as I quickly as I did. I think it’s a common mistake for people to not recognize when they have something good in their lives, and I’m guilty of this. My mother has been with me through everything: when I was feeling angry and sad about my step-dad leaving or my dad never being around, she was there. While my step-dad encouraged me to be myself, my mother encouraged me to be the best possible version of myself. 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I was 16 and it was spring time. The summer was coming up and it was going to be a very big one for movies. This job would be something differ ent for me and would help shape my future. The five yearsa that I had spent working and growing through a movie theater supplied me with many memories, an opportunity to grow as a professional and has equipped me with lifelong friends. Some of my mostRead MoreThe External Conflicts Of Chaperupa And Maya From Lupita Manana715 Words   |  3 Pagesis a book about two siblings, Salvador and Lupita. Salvador and his sister Lupita cross the border in hope of supporting their family back where they live. The short story, My Favorite Chaperone is about a Russian family migrating to the United States. These writings show that Lupita from Lupita Manana and Maya from My Favorite Chaperone are very different characters. 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Relationship Paper Free Essays

A relationship between two people can have very different meanings. In some relationships such as two lovers, they can also be best of friends because they share some characteristics and qualities and have a good understanding of each other. A relationship between a parent and child has a special bond because they share love, and affection for each other no matter what the circumstances are there will always be some connection, even at its worst times. We will write a custom essay sample on Relationship Paper or any similar topic only for you Order Now However, there are times when a relationship can go bad because there is no understanding, lack of communication, and a feeling of distance in the relationship. This may occur from mistakes or misunderstood acts from one another. It is believed that the parent-child relationship is the most influential relationship that there is. As of right now I believe that this is the relationship I must analyze more in-depth to get a full understanding of it and to just improve my daily life with them, but in particular my mother. My mother, like most Hispanics in her generation, did not grow up with half of the materialistic devices and privileges that I have had when growing up. She has come from a home that was riddled of alcohol and drug abuse. Even with those distractions at home she still managed to get straight A’s, so she says, and has had a job throughout her life since the age of 16. She says if it wasn’t for marriage and having kids she would not have dropped out of college, but she was comfortable where her family was heading and had made that decision. My mother is someone to look up to in my books because of her overcoming of obstacles that had stood in front of her like it was just taking another breath of air, and for my father, I don’t even want to start on that description. I’ll just leave it at that it is a privilege that I’m even walking this planet today. I believe my mother perceives me as taking the resources I have around me for granted. That I am just going through the motion of school and life and not tackling it like she did and still does. She sees an unemployed 20 year old at a junior college that has had recent trouble with the law. I am not putting up the biggest argument against her because I know I could be doing more to be excelling further in school and being more responsible for my own actions. I don’t think she fully understands the commitment of being in ootball during school. It really is like having a job year-round that gives you a 2 month break yearly. I know she gets her perceptions on what she hears at work at the sheriff’s department, which does not help, or what she sees on the news on television. So I believe her ideas on what people my age is a little bias. To overcome these perceptions and to be tter our relationship I believe we can communicate with each other more than we are now. Telling her more information about what goes on and what I am doing in my life can more likely give her a better idea on who I am or who I am on track of becoming. Telling her more and more of what I am doing and disclosing my-self, I believe can make her feel more comfortable with me. By self-disclosing my-self it can give her assurance with what kind of person I am. With the way things are going between us right now I can only imagine who she thinks I am. When a mother does not know much about his son you can see as to why they can get carried away with ideas on who they might be but not who they are. However, there also might be some things that she sees about me that I don’t realize myself. Those mother-to-child instincts are still a wonder to us all. She might see something about me that whenever I am in a serious relationship I seem to be more stressed, or that i am calm with her in our conversations. My emotions on the way I converse with her tell her a lot about myself. Emotion management is essential to maintaining a healthy relationship. For example, if I failed a mid-term that day and she does not know, she cannot prepare for the negative responses, if any, to her questions and she most likely would not want to hold a conversation with me. She can start to build an idea that I am not consistent with who I am and lead up to fewer conversations to build on our relationship. However, emotion management does have its cons. For instance, if I am not happy with something she is doing and I never express anything about it the relationship for me might start to become one-sided meaning only she is happy with relational content. Sometimes giving feedback about some ones actions is the best way to maintain a relationship. Relationship maintenance between her and I is a must. If I want her to be appy with me then I have to put in my part. If I am just sitting around the house not contributing to anything or with the household how could I expect her to be happy with me. When she sees me applying myself she can have many reasons to be happy or proud with what I am doing. How can she not be if she knows I am taking advantage of the opportunities around me? For example, if I am maintaining a 3. 0 grade point average while holding a part time job and in a year-round sport like football, she should not have reason to be upset or concerned with me. How to cite Relationship Paper, Papers Relationship paper Free Essays My expectations from our friendship was a lot because she was very important me almost as to consider her like my sister. I expected to get proven that true friends do exist and that no matter what, she would be by my side. She has proven that to me and everyone knew we were best friends. We will write a custom essay sample on Relationship paper or any similar topic only for you Order Now Due to the way she was with me, I always had mentality that best friends last forever. I get really attached to people and sometimes scared to ever lose anyone close to me. My friendship with her relates a lot to the METHOD because that’s exactly what occurred in the same order. As our friendship progressed, every year there would be periods of time where we â€Å"thought† we were mad at each other because of lack of communication at times. If I ever felt sad I always contacted or cached out to her first, I would wait and see If she would do the same and It went vice versa. It was freshman year when our school schedule changed and effected our friendship. Our classes were so distant from each other and we no longer shared lockers. She was part of the cheer team and so that took up most of her time. Plus, she met a lot of new girls and spend more time with them. My expectations changed and I understood that it was time consuming but communication went both ways. Most of the time I felt like I was the only one that made effort. Some investments I made were going to watch her perform. I paid and attended almost every game and I knew she appreciated that. That showed a lot about my person and I knew she felt proud to have me around as well. This was continuous throughout high school and soon enough it became a habit. I accepted the change and it then became normal. In a way we were too needy for each other so the space was much needed. 2. Some ways that we have communicated nonverbally are using symbols. We would always wear matching Jewelry that signified our friendship. We did almost everything the same, always matched with clothing as well. Some nonverbal expressions included a lot of looks. If we were ever in an awkward situation, we always gave each other a look that showed we felt uncomfortable or any clue to go. We knew what looks we gave each other meant right away. A lot of friendships that are strong and last long, depend on nonverbal communication. The quality of my friendship with her always improved because we could easily read each other, and understand the emotions behind each other’s words. The way you respond to someone nonverbally can show that you understand and care about them and the relationship will grow and be fulfilling to both. Verbally wise, it’s always been very Important to pay close attention o what I and my friend say to each other. Having this friendship with her has taught me a lot on how to be an effective communicator and listener. Understanding the meaning of one’s words and the Ideas and feelings behind them Is very Important. Dual perspective is the ability to understand another’s perspectives, feelings and perceptions of what she would say or do something wasn’t so easy. At times it was quite difficult. Asking questions before Judging or commenting and explaining my own feelings and needs so the friend understood where I was coming from help us communicate a lot more. How to cite Relationship paper, Papers

Taking Economics Seriously

Question: i. Explain the economic problem of scarcity by using demand and supply factors relevant to the price of petrol in the UK. ii. Analyse potential externalities that may arise in the petrol market. How can the UK Government seek to ensure that such externalities are taken into account by the petrol market? Answer: 1: The trend component of the price of oil is rising. This has an implication that the global market oil is going to enter in a period in which there is a rising scarcity. Here is a demand and supply analysis for the effect of rising price of crude oil in UK (Baker, 2010). From the demand and supply analysis, it can be said that the sustainable increase in the demand for the crude oil all over the world and the limited supply of it causing the rising trend in the price of crude oil. For the same reason there is arising a scarcity in the crude oil market in UK. The analysis of this scarcity problem has reveals that the effect of the increase in the scarcity in the oil market can be managed relatively by the primary downshift in the supply trend of oil. It can be noted that it will result better if the decline in the supply of oil should be gradual than the absolute decline (Davis and Reilly, 2010). In addition it can be noted here that presently in 2015, the oil price is falling. Now, the falling of the oil pr5ice is a great problem. Downshift in the supply of oil A considerable downshift in the growth of the supply trend of oil of about 1 % helps to slow down the global growth by about % and the annual growth at the global level results in longer or medium term (Do policymakers need to cool the UK housing market?, 2014). A continuous decrease in the supply level of the crude oil in UK has considerable adverse effect on the output level. It can be happened if there is a higher level of substitutability between the other preliminary sources of energy and oil. On the other hand, the wealth or revenue acquired in UK from the oil will shift from the importers of oil to the exporters of oil in the medium term and that will raise the flow of capital, thereby reduction in the real rate of interest and the current amount imbalance will rise (Dransfield, 2014). This particular assignment shows that the scarcity of oil will certainly be a powerful constraint in the world economy (Drummond and Hodgson, 2011). So the risk emergence it causes is very serious matter worldwide. Reaches on the substitute of oil are in progress. But still it is uncertain. So the full dependence on the other sources of energy is still uncertain. Measures for reducing the risks It is very obvious that the policy makers in UK should adopt stronger measures for reducing the risks from the crude oil scarcity (Drydakis, 2014). The policy makers should take precautionary steps in this matter. They also should facilitate the adjustment process if it becomes larger then it was expected or it has to be materialized in a rapid manner. Policies require to be balanced with labors to make stronger societal security nets, as the higher price level of oil may lead to alter in the distribution of income and make poverty level greater than before(Gil Lafuente and MerigoÃÅ' , 2010). The allegations of oil insufficiency could be significant and extensive. Oil is a main factor of the process of manufacture, as well as in the manufacture of other produces and in shipping, and also broadly used for goods for consumption(Gillespie, 2010). Oil takes the majority part in over all traded commodity in this world. This implies that oil has a significant effect, direct as well as indirect on the global economy. This has effects on the several economic factors, such as, world inflation, poverty level, growth and external balances. From the late of the year 1990, the price level of oil has generally increased(Gurtuna, 2013). Oil scarcity Oil is considered as a scarce factor when the demand for the oil is greater than the supply of it. The supply is unable to meet the demand at the existing price level. Then the price will rise and this will encourage the supply of oil. On the other hand, the rising price of oil will reduce shortly the demand factor. This means that the scarcity of oil is related with the price of oil. So it can be said that the oil scarcity always reflects in the price of oil. The price of oil also reflects the opportunity cost (Hall, 2011). The opportunity cot is in terms of bringing one barrel of oil in addition in the market. Generally, a higher level of price comparative to the prices of other commodities points out the scarcity. On the other hand, a lower price points out large quantity, and fluctuations in the level of price over an extensive periods indicates alterations in the scarcity (Hayes, 2014). However, it is to be noted that it is very difficult to differentiate the reasons for increase in the price level. It can be the scarcity or can be other kind of reasons. The scarcity indicates the decline in the accessibility of oil in the long term. The scarcity of oil in the logic of lofty and rising oil prices also can be arose for many other causes over shorter sphere (Ibelings, 2010). Momentary shocks in the supply may direct to short lived price spear, as throughout the year of 199091, in the Gulf War. Choice and opportunity cost Choiceandthe opportunity costare mainly two basic ideas in economics. When the resource quantity is a constraint factor, then the consumers and the producers have to make selection within the alternatives of competition. All decisions regarding economy involves mainly in the choice making (Leonard, 2011). Any consumer or the producer has to choose the best way of using the effort and skills. The firms in UK must have knowledge about the usage of the machinery and workers available to them. Now, the making of choice always involves in the sacrifice of something. This happens as the alternatives should be given up. These results in the sacrifice of the benefits could be gain from the various alternatives, which were available at the same time (Leonard, 2011). The demand and supply analysis can be shown by using a diagram. Here in this following diagram it can be shown that as the demand rises, the demand curve shifts upward and the price rises, the supply remaining the same and vice versa (Mankiw, Taylor and Ashwin, 2013). Drawbacks This particular assignment mainly focuses on the problems emerging from the scarcity of oil. The price rise is indication of scarcity. But it is avoiding the other matters which may affect the price, such as the business cycle. The business cycle has a great effect on the changes in the oil prices (Newbold, Carlson and Thorne, 2013). The price of oil may also be affected by the implementation of explorations, new discovery, capital investments etc. Present problems Presently in 2015, the oil price is lowering. There are several problems for the low price of oil. Some problems are as follows: increase in the debt defaults, the interest rates are rising, unemployment rate rising, recession increases, oil supply decreases, disruption in the countries those export oil, drop in the prices in the stock market, drop in the bonds market value etc (Sloman, Hinde and Garratt, 2010). The fall in the price has also a number of problems itself. For the falling price of oil, the debt defaults increases. The debt default can increase in the oil extraction businesses, workers of laid off oil etc (Starkman, 2013). On the other hand, the interest rate will rise. The unemployment rate also increases. The increasing unemployment rate couples with the high rate of interest causes recession. The supply of oil decreases as a result of the falling price of oil. 2. Externalities Externalities are the side effects in the economy or environment of a good or service, which creates costs or benefits to people. In general, the externalities are meant by the costs or the benefits imposed by a firm or industry on the outer side of the whole marketplace or within the marketplace (Starkman et al., 2012). The petrol market has several negative as well as positive externalities. Externality is classified broadly into two types, such as positive externality and the negative externality. Positive externalities are those benefits, which are acquired by the people from the good or service by a firm or industry. On the other hand, the negative externality is subject to those externalities, which affects negatively the people or the environment (The growing UK 3D printing market, 2014). Positive externalities There are so many positive externalities emerging from the petrol market. This is very obvious that petrol is maximum used in the peoples lives. People cannot even thing without the usage of oil or petrol. In various stages of the human life the petrol is used. Some kind of positive externalities regarding the petrol market are as follows: Economic profit, increased efficiency or the productivity, Means of Globalization (UK company looks to crowd funding to bring natural water filtration product to market, 2014). These are discussed here. Economic profit employment becomes greater than before, different commercial activities introduced. There are several economic profits involved in the petrol market. The employment rate increases(Ummer, 2012). The employment rises in the oil factories. There are several production houses, in where the petrol is ides. Those are also part of employment created by the petrol market. Petrol is involved in different commercial usage. Those commercial hubs recruit many people as employee. Increased efficiency or the productivity usage of oil speeds up proficient manufacture in many industries. The productivity increases with the use of oil. There are so many machineries, which run with the help of oil. Those machines are increasing the productivity in various sectors(Vergnet expands services for UK market, 2014). Means of Globalization this increases the trade between several countries. Negative externalities The mainly public concentration paying attention on ecological damages as extraction, resource exploration, processing and lastly, distribution are the reason of environmental damages. It also includes the natural world territory disturbance, and discharge of air, sound and water pollution. Externalities are the really bad sided effect on the environment of the world. In many production processes of several goods including the oil extraction, there are so many negative externalities (Wessels, 2012). The negative externalities always affect adversely the people of the country. An important example of the negative externality is pollution. The oil extraction causes pollution. Some kind of negative externalities are as follows: the damages in the environment for the petrol market, health risks involved, economic costs, limitation of resources, security risks, financial subsidies etc. Damages in the environment The environment damages from production of oil, distribution as well as the consumption. During the process of extraction of oil, the water is negatively affected(Wessels, 2012). So there occurs water pollution. The exploration process pollutes the air. So there occurs air pollution. The processing of oil also affects the air as well as water badly. So in the stage of processing of oil, both of the pollutions, such as water pollution and the air pollution take place(White and Herrera-Soler, 2012). Health Risks Several types of risks are involved in the petrol market. This includes injuries and sickness of the people or the workers from petrol production and distribution. In the petrol market, the workers have to take severe risks in extracting of oil and the processing. The extraction process is very risky for any person or worker. So many injuries happen on the body of the workers. On the other hand, the processing of oil emerges toxic gases, which are really very harmful for the human body(Zhou, 2011). So those workers, who do job in the oil factory and stays during the processing of oil, suffers from various illnesses, so, health risk is very significant externality involved in the petrol market. Economic Costs A number of economic costs are involved in the petrol market. Mainly the economic affect of imported oil. Several economic costs are there with the oil or the petrol market. This is very true that the price of the oil ion the international market play a significant role on the economies of the countries all over the world. So, if there is any fluctuation in the oil prices, then the economies of the oil importing countries will be affected negatively(Baker, 2010). This is another negative externality of oil. As the price increases, the oil importing countries have to pay much more than before. So the other economic sectors are hampered. Security Risks Opinionated and armed costs to continue or to keep up the right of entry to oil recourses involves security risks(Davis and Reilly, 2010). Restriction of Recourses Another negative externality is to deprive the upcoming generations from non-renewable sources like oil. The oil scarcity is very important issue involved in the oil market. It is very difficult to determine the quantity of oil can be extracted. The resource like oil is limited in the world. So the extraction of oil regularly causes fall in the reserve of this particular resource. The future generation will have to be deprived from the usage of oil. So the future is very uncertain in the case of scared resource like oil(Do policymakers need to cool the UK housing market?, 2014). Petrol is variously used but the people. So, it is very difficult to think about a world without crude oil. But is it also true that a period is supposed to arrive where the people will not use crude oil. Financial Subsidies There are various financial subsidies to the producers of oil. Remedy For those negative externalities, there should be incentives for the consumers or the producers to cope up with the adverse situations. The problems emerging from the externalities can be solved by the Government intervene (Dransfield, 2014). Here in this section it is going to be discussed various way outs. Imposition of tax on the polluters If the business procedure causes pollution, then that business should be taxed accordingly. As tax is imposed on the business company, the cost of the production will automatically raise. The rise in the price level of oil depends on the elasticity. If the price is very much responsive, then the price will raise more with the tax imposition. However, it can be noted that the producers the ultimate tax payers. Now, theoretically it can be said that, the size of the external cost or the negative externality is nothing but the difference between the marginal private cost curve and the marginal social cost curve. Now, it is the responsibility of the government to assess correctly the cost for the negative externality (Drydakis, 2014). If the government is able to determine and thereby calculate the cost for the negative externality, then the government will be able to impose the correct or right quantity of tax. Now, if the government imposes the right level of tax, then the marginal private cost curve will start to shift and it will shift till it superimposes on the marginal social cost curve. This determines the equilibrium level of price and the quantity and ensures that the consumers as well as the producers are in the situation of equilibrium. Taxes cause the shift in the supply curve to upward or to the left. This upward shift of the supply curve causes the rise in the price of the crude oil and reduces the output of the oil. This happens through market mechanism (Gil Lafuente and MerigoÃÅ' , 2010). So the external cost is reflected in the rising price as well as in the reducing cost level. But there may be external benefits also. So in the case of external benefits, a firm and a government has to compensate, which are discussed bellow. The use of subsidies If there are positive externalities, then the business authority should be subsidized. There are so many external benefits of the petrol market. Those are discussed above. The petrol is variously used in daily life, transportations, machineries etc. It has also several economic externalities, such as employment generation, productivity increase etc. Those positive externalities are to be supported by the government as it is very useful for the goodness of the country as well as the society (Gillespie, 2010). Therefore, the demand can be raised by the paying subsidies from the part of the government to the suppliers or the producers. If the cost burden is partly minimized with help of the subsidy paid by the government, it will encourage the production as well as the consumption of oil. Therefore, it is the responsibility of the government to determine the exact level of the subsidy, which should be paid to the producer. The subsidy paid by government encourages the supply by reducing the cost of production and thereby reducing the price of oil partly. The reduction in the price level encourages the consumption level. Government regulation Theoretically it can be shown that the size of the externalities and thereby the amount of tax or subsidies. But in the real world, it is very difficult to determine the level of tax or subsidy. Sometimes the government has to be direct in the cases of imposition of tax or paying subsidy. Some interventions are, price ceiling, price floor, subsidy (Gurtuna, 2013). Price ceiling A price ceiling happens when a legal boundary on the price level of oil created by the government. For an effective price ceiling, the government has to set the ceiling bellow the equilibrium level in the market (Hall, 2011). When the price ceiling is set, there will be automatically a shortage as the demand factor is greater than the supply factor. Price floor The price floor is the minimum price level set by the government. No one is allowed to sale oil below the price floor. This is done for the sake of producers suffering from comparatively higher cost of production (Hayes, 2014). Subsidy The subsidy is a financial assistance given by government to lower the cost of producers as well as to encourage the demand by lowering price level. Thus the employment can be raised (Mankiw, Taylor and Ashwin, 2013). These are the assistance or policies can be taken by UK government in the petrol market for the externalities. Reference list Baker, D. (2010). Taking economics seriously. Cambridge, Mass.: MIT Press. Davis, P. and Reilly, A. (2010). Market power, market outcomes, and remedies in the UK groceries market. Agricultural Economics, 41, pp.93-108. Do policymakers need to cool the UK housing market?. (2014). Economic Outlook, 38(2), pp.5-13. Dransfield, R. (2014). Business economics. London: Routledge. Drummond, H. and Hodgson, J. (2011). Escalation in decision-making. Farnham: Gower. Drydakis, N. (2014). Sexual orientation and labour market outcomes. IZA World of Labor. Gil Lafuente, A. and Merigo , J. (2010). Computational intelligence in business and economics. Singapore: World Scientific. Gillespie, A. (2010). Business economics. Oxford: Oxford University Press. Gurtuna, O. (2013). Fundamentals of space business and economics. New York, NY: Springer. Hall, I. (2011). The Coalition and the UK Housing Market. Politics, 31(2), pp.72-81. Hayes, K. (2014). Business journalism. [New York?]: Apress. Ibelings, H. (2010). Restart. Sarajevo: Buybook. Leonard, E. (2011). ALA guide to economics business reference. Chicago [Ill.]: American Library Association. Mankiw, N., Taylor, M. and Ashwin, A. (2013). Business economics. Andover: Cengage Learning. Newbold, P., Carlson, W. and Thorne, B. (2013). Statistics for business and economics. Boston: Pearson. Sloman, J., Hinde, K. and Garratt, D. (2010). Economics for business. Harrow, England: Financial Times/Prentice Hall. Starkman, D. (2013). The best business writing 2013. New York: Columbia University Press. Starkman, D., Hamilton, M., Chittum, R. and Salmon, F. (2012). The best business writing 2012. New York: Columbia University Press. The growing UK 3D printing market. (2014). Metal Powder Report, 69(1), pp.36-38. UK company looks to crowd funding to bring natural water filtration product to market. (2014). Filtration Industry Analyst, 2014(1), pp.3-4. Ummer, E. (2012). Basic mathematics for economics, business, and finance. New York, NY: Routledge. Vergnet expands services for UK market. (2014). Renewable Energy Focus, 15(3), p.8. Wessels, W. (2012). Economics. Hauppauge, N.Y.: Barron's Educational Series. White, M. and Herrera-Soler, H. (2012). Metaphor and Mills. Berlin: De Gruyter. Zhou, Q. (2011). Advances in Applied Economics, Business and Development. Berlin: Springer-Verlag Berlin Heidelberg.

Aristotle Essays (415 words) - Ancient Greek Philosophers, Aristotle

Aristotle Aristotle was one of the most influential thinkers in western culture, and a Greek philosopher, teacher, and scientist. He was probably the most scholarly and learned of the ancient Greek Philosophers. Aristotle mastered the entire development of Greek though before him and employed this knowledge in his writings. He criticized, summarized, and furthered the development of the Greek philosophies. Aristotle, along with his teacher Plato, are the two most important Greek Philosophers. Aristotle was born in Satagira, a small town in Greece. Aristotle's father worked as a personal physician for the grandfather of Alexander The Great. Both of Aristotle's parents died when he was a boy, he was then raised by a guardian. When Aristotle was about eighteen years old, he entered Plato's school in Athens known as the Academy. He trained there for twenty years. Plato dubbed Aristotle as the brightest student in the Academy and called him the "reader". When Plato died in 347 B.C., Aristotle left the Academy to join a group of Plato's followers. While there, Aristotle married a young woman named Pithias. Around 342 B.C., PhilipII, invited Aristotle to supervise the education of his young son Alexander. Alexander later conquered all of Greece, ran one of the most powerful empires, and became known as Alexander The Great. Aristotle was Alexander's sole teacher until the youth succeeded his father's throne in 336 B.C. In 334 B.C., Aristotle founded his own school in Athens called the Lyceum. In 323 B.C., Aristotle was accused of lack of reverence towards the gods by the Athenians. To avoid the death sentence, he fled to the city of Chalcis where he died a year later. After his death, Aristotle's philosophy was continued to be taught at the Lycuem by his successors. Aristotle's philosophy spread to Rome in 155 B.C. giving Romans their first contact with Greek philosophy. Aristotle's philosophy was then lost until its rebirth in the 1100's, where it was introduced to the Christian culture of western Europe. Aristotle philosophy was basically the opposite of his teacher Plato's. Aristotle believed that the artist is a creator, that the artist improves on an original design. Aristotle also believes that Imitation is necessary. Aristotle used Homeopathic Psychology which is to expose the good to the bad to purge the bad. Aristotle did not abandon his mentor's ideas he only improved on them. Aristotle's philosophy influenced a countless number of people since its birth. He was responsible for the tutelage of Alexander The Great, he Influenced much of Europe in its early stages, and he even affected the beginnings of the modern Christian culture. Aristotle was definitely one of the most influential Greek Philosophers of all time.

How to Use LinkedIn Effectively Communications Networking

How to Use LinkedIn Effectively Communications Networking We all know that being a LinkedIn member without actively using the platform is like being a gym member and sitting on the couch all day. LinkedIn is all about communications and networking- and since my latest updates, many things have changed in that arena. Not just the obvious changes like the renaming of the Summary section to â€Å"About† – but also some less prominent ones that you might not have noticed. Here’s a breakdown on how to use LinkedIn effectively, utilizing its new features for communications and networking success. How to Share Information Easily with LinkedIn Mail’s Voice Messaging, Availability Location Features Here’s a tip on how to use LinkedIn effectively with the new Voice Messaging feature, available in the mobile app. This tool can be a very useful way to make sure the intention of your message is understood, avoiding the potential miscommunications of written communications. The voice messaging feature does have its downsides. One author makes a good point stating, â€Å"When someone sees a voice message, there’s no way to discern the content. They have no idea what they’re about to listen to†¦Ã¢â‚¬  Therefore, connections who don’t know you might not take the time to listen to your voice message. Then again, curiosity is a strong force. It might be a good idea to preface your voice message with a written message just to be safe. To use the voice message feature, click on the Messaging icon in the top right. Click the plus icon to begin composing a message, then select the microphone icon at the bottom of your message window. Hold down the microphone/record button while speaking. Then hit Send or Cancel. Unfortunately, previewing your recording is not currently an option, so make sure you feel confident with your message before hitting send.. To learn more, read LinkedIn’s blog article about voice messaging. How to Schedule a Meeting with the Calendar and Location Features (Mobile Only) With LinkedIn’s calendar feature, available on the mobile app, you can suggest some available times to meet a new or existing connection. To do so, start a new message and click the plus sign to view all of your mobile messaging features. Click on â€Å"Availability.† Select a few time slots from your calendar that work for you, then click the checkbox in the upper right: LinkedIn will pull your information into the body of the message. Personalize and send! You can use the Location feature to let your connection know where you are or would like to meet in the future. Just click on the map icon, type in your desired location, and click the blue arrow to send a map. Note that maps are sent immediately – there’s no ability to add text to your message – so be sure to precede your map with a message explaining that the meeting location is on its way. How to Share Documents or Photos and Videos with Tags and Stickers Document Sharing in Updates LinkedIn recently added the ability to share documents as part of a post. You can now upload files from your desktop, Dropbox or OneDrive up to 100MB (but less than 300 pages) in PPT, PPTX, DOC, DOCX or PDF formats. Anyone who would like to access the document will be able to download your file as a PDF only. This feature is not available for mobile. For more about this feature and LinkedIn’s document best practices, see Sharing Documents on LinkedIn. Photos and Video Sharing If a LinkedIn connection appears in your photo or video, tag them! After selecting your image, click on the member you want to identify and a search field will appear. Begin typing the name of your connection, then click their profile to tag them. Tagged connections will be notified of your post and also have the ability to remove the tag if they wish. There is some concern that spammers will use tagging to harass LinkedIn users. Only time will tell. With LinkedIn’s mobile app, you can also add text and stickers to your videos and images. There doesn’t currently seem to be a way to search the available stickers, so you’ll need to scroll through them to find one you like. Perhaps LinkedIn will improve that functionality in the future, as well as increase the limited number of options available. How to Upgrade Your Interactions with Reactions  ­Ã‚ ­Ã‚ ­Reactions  ­Ã‚ ­Ã‚ ­In a previous article on how to use LinkedIn effectively, I covered how to upgrade your LinkedIn interactions with Emojis and GIFs. Now LinkedIn has provided another option for your communications: Reactions. LinkedIn’s Reactions function much like the features on Facebook, where members can not only like a post, but also love it, celebrate it, tag it as insightful or express their curiosity. If these new reaction images are not enough, you can include your own images with your comments to really stand out. You can share an event photo, a screenshot of an article with relevant content highlighted, infographics, and more. An image can draw more attention to your comment, so go for it! Click on the camera icon and attach any photo from your files. Note that you can’t post an image only; you must also leave a written comment. How to Recommend a Group Post Here’s a tip on how to use LinkedIn effectively as a group owner: You can now recommend important posts to members. Recommended posts will appear in group members’ home page feed so your group stays top of mind. To recommend a post as a group owner, click the three dots in the upper right corner and select â€Å"Recommend this post†: If you’re someone who writes articles and has been wondering whether it will ever be valuable to post them to groups, now you have an answer. Write good ones and perhaps the group owner will recommend your posts. As Josh Turner, WSJ author and founder/CEO of LinkedIn Selling, points out, â€Å"Familiarity begets trust. The more group members see your name, the better. Now that your recommended posts show up in LinkedIn’s main feed, members will be more aware of what’s happening in the group, and hopefully will visit and participate more often.† How to Stay in Touch with Your Coworkers The Teammates Feature is another possibility of how to use LinkedIn effectively. While it hasn’t been rolled out to all members yet, it will be soon. With this tool, you can add coworkers to your network as teammates. Then your teammates’ LinkedIn activity, such as posts, comments, likes, shares and work anniversaries will be prioritized in your feed so you can engage with them. To see if this feature is available to you, click on the My Network tab and look on your left sidebar: Click on â€Å"Teammates† to add coworkers. You can add a manager, teammates reporting to your manager, and direct reports. If you’re not already connected with a teammate, look for the â€Å"Connect† button next to their name. Once connected, you’ll be able to add notes for each teammate, as well as designate them as part of a current or past team. For information on the Teammates feature for mobile, read LinkedIn’s Help article, Using the Teammates Feature. What’s Been Discontinued The following features have quietly disappeared. Not sure what these are? Well, now you don’t have to worry about them! LinkedIn Lookup Request an Introduction Conversation Starters Analytics for regular status updates (only analytics for Publisher articles) Email notifications for activity within your network Group activity notifications (Group post â€Å"Recommendations† have been added) Group announcements Group job conversations LinkedIn Pulse Sharing Bookmarklet Old LinkedIn badges LinkedIn is constantly introducing what they consider improvements. Sometimes they stick; sometimes they don’t. I do my best to keep on top of all of the new options for how to use LinkedIn effectively, including updating my book each year to reflect the current state of affairs. If you want all my LinkedIn tips in one place, please click here to get your copy of the most recent edition of How to Write a KILLER LinkedIn Profile. And I’m always open to hearing about things you’ve noticed that maybe I missed. Please comment below with any questions or suggestions!

Holidays Personal Statement Example | Topics and Well Written Essays - 500 words

Holidays - Personal Statement Example There will be lot of music, dance and typically dressed couples participating in events cheerfully. A special luncheon or dinner with Halloween dishes is line up enticing everyone to have their pie. Winner in various event get goodies and gift coupons. The hour or two we spend down for that celebration will be refreshing al-together. Back to my personal life I have only taken my sons trick-or-treating in the neighborhood twice in his 8 years and both times he was too young to catch up with the enjoyment and enthusiasm. Now-a-days we head to a carnival hosted by a mall or the city instead. It wouldn't matter much in our neighborhood these days, though. I've noticed that with each passing year more and more porch lights are turned off on that night and if we're home, we may only get a handful of trick-or-treaters. I think it makes me a little sad that my kids won't have that same experience that I did... of going to see all my neighbors and seeing their reaction to a costume that my mom and I worked. My Kids won't have the excitement knowing that this certain neighbor always makes cupcakes and this certain neighbor always gives out afull-sized candy bar. The happiest thing about "Thanksgiving day" is that it brings us a couple of holidays to come out and refresh, mingle with friends and family members.

An external consultant to a company and you need to prepare a report Essay

An external consultant to a company and you need to prepare a report on their performance based on the information they provided - Essay Example However these figures do not show how efficiently the company is earning these profits. How much risk each company is taking to earn these returns is not known. The future prospects of the company with respect to its performance can also not be predicted by just looking at absolute numbers. It is important to analyze each figure in relation to the others to be able to conclude about a company’s performance. Hence, though company A is earning more than B, we need to look at the sales figures on which these profits are earned. Hence, if company B is earning this on a sale of $10,000 million while company A is earning it on sale of $20,000, company A is actually earning only 2.5% on its total sales while B is earning 3.5%. Hence, B is actually earning better. Similarly, if company B has very high debt with respect to its equity, then this company is highly leveraged and much riskier than A, though the absolute debt figures of company A might look bigger than B. Thus, ratio analys is which helps to establish relationship of one financial figure with the other helps in analyzing different companies in better light. Another advantage of ratio analysis is that it helps in comparing completely different balance sheets. For example, company A might publish its results in British pounds while B might do the same in Dollars. Ratios help in directly comparing the two companies irrespective of the currency they use in their financial statements. Ratio analysis also helps in analyzing a company’s performance by looking at its various business aspects i.e. profitability, liquidity, leverage, operational efficiency (turnover ratios) as well as market valuations. Various aspects of analysis We will conduct a time series analysis (for the various ratios) for Wm Morrison Supermarkets for a period from 2008 to 2010. We will also compare it with Tesco which operates in the same industrial sector. Other than the ratio analysis we will also compare some other aspects of their business like their market penetration, and their product line etc. Choosing the right ratios The various ratios we will be using will be based on following categories Profitability ratios – (Gross Profit, Net profit and Operating ratios) These ratios help in analyzing the efficiency with which the company has used its resources to generate profits. Gross profit sees the amount of profit earned after taking out the cost of sales which includes administrative and sales expenses. Net profit looks at overall earnings after taking into account all expenses including interest and tax expenses. Operating ratio takes into account operating expenses viz-a-viz sales. Liquidity ratios – (Current ratio, Quick ratio) These ratios show how easily a company can liquidate its short term assets to honor its short term liabilities especially the suppliers and financers. Turnover/activity ratios – (Fixed assets, Current assets and inventory turnover ratios and day’s receivable holding) These ratios help in analyzing how efficiently a company converts its assets into revenues. They also tell how effectively the company has used is resources to generate sales (revenues) (Loth 2011). Leverage – (Debt-Equity) These ratios tell about the amount of risk a company has taken and eventually its share holders are facing. Valuation ratios - ROI (Return on Investment) These ratios hel

Effects of Climate Change Research Paper Example | Topics and Well Written Essays - 2250 words

Effects of Climate Change - Research Paper Example Due to global climate change, areas that used to experience huge amounts of rainfall are now experiencing minimum rainfall such that they are now becoming arid like while at other times rain is falling in excessive amounts, leading to flooding. Low rainfall means that there is not enough clean water for domestic purposes. In such a circumstance, it becomes difficult to maintain hygiene and consequently, diseases such as diarrhea, typhoid, dysentery and cholera among others become a health hazard. In addition, malnutrition as a result of withering of crops due to lack of sufficient rainfall is also a health condition, which has been noted to occur in the contemporary world. According to the World Health Organization (2008), â€Å"Malnutrition, much of it caused by periodic droughts, is already responsible for an estimated 3.5 million deaths each year.† Flooding on the other hand, is a condition, which brings as much health calamities as those caused by drought. To begin with, f looding involves having stagnant water in areas that are largely flat in nature. Human beings live in these areas and every time there are floods, they are forced to take refuge on higher grounds, where they live under poor hygienic conditions especially due to lack of facilities such as toilets and latrines to dispose off human waste. In addition, flooding contributes to the mixing of ground and surface water with dirt and other effluent from raw sewerage and this becomes a catastrophe especially in third world countries and other emerging economies, which rely mainly on surface water for drinking and other domestic purposes. This water therefore carries a lot of... This research paper is a critical evaluation of climate change, as a direct consequence of global warming, and its effects on humans and nature. Climate change, as a result of global warming, is an environmental problem, which has emerged in the last 50 years and is projected to worsen significantly in the near future. it is justifiable to imagine the level of damage, which has occurred over the last 100 years. Most notably, scientists have warned that there is a possibility that this temperature will increase by 1.1o C by the end of this century if stern measures are not taken to prevent it. Green house gas emissions such as Carbon dioxide, Methane, Nitrous Oxide among others have been credited for the increases in global surface temperatures as a result of their capacity to trap and maintain heat from the sun. It is also mentioned in the research paper that human activities are the major contributing factors to this anthropogenic climate change, which has adverse effects on human h ealth, agriculture and biodiversity. Some of these activities are for example; deforestation, charcoal burning, pollution from industries, all of which increases the amount of carbon dioxide and other greenhouse gases in the atmosphere. In order to save these important facets of nature, efforts must be made to control the rate at which climate change is occurring. The researcher then concluds that otherwise, the next 100 years will record an extinction of important plant and animal species, which are the surviving blocks for humans.

George Berkeley And Empiricism Analysis Philosophy Essay

George Berkeley And Empiricism Analysis Philosophy Essay Empiricism is the doctrine that knowledge derives from experience. One very important philosopher to empiricism is George Berkeley. Berkeley denies the existence of material substances and says that existence of substances is depended on perception. In his famous Three Dialogues, he introduces characters Philonous and Hylas whose names ironically mean love of intellect and matter. As the First Dialogue starts, Hylas calls Philonous a skeptic by his definition one who doubts of everything or who denies the realty and truth of things (pg.219, The Empiricist) he soon gets Hylas to admit that he too is a skeptic. Philonous breaks everything down into two groups either having: primary qualities (qualities that can be measured) and secondary qualities (sensible qualities). In the following pages Berkeley goes on to prove that there is no inherit qualities within a material substance that makes it a material substance, and everything is viewed through perception. For example, a cherry is a cherry because it is red, sweet, round etc. But all those things are not innate things that are a cherry. They are sensible qualities because we see, taste, and feel that the cherry is red, sweet and round. Even though we all agree that before us is a cherry, we all will find that we have different perception about whether on not the cherry is sweet or bitter. Anything that is arbitrary is perception. His point was that if it is without being perceived, then it cannot be proven. In order to know a thing exists, we must perceive them. Berkeley also set out to prove that primary qualities only exist in our minds. His proof of this is that an object perceived by two different people could be larger or smaller, depending on how big that person actually is. For example a foot to me may seem moderately long, but a foot to a 6 foot person may seem really short. Hence, extension is not inherent in the object. He also gives the example of motion and how speed is measured by an internal clock In the Second Dialogue, Berkeley introduces Monism (everything is reduced to one), Dualism: 1) thinking (substance pilot) 2) physical material (substance machine), and Idealism (only perceiving minds and perceptions exist). This is where Philonous brings God into the equation because he needs a cause for our sensible ideas. His argument of causation is as follows: 1) sensible ideas must be caused by some spirit 2) I am not the cause of my sensible ideas 3) There must be some other spirit that causes my sensible ideas. Therefore, there is a God. His argument of Perception then is: 1) sensible things cannot exist without being perceived 2) sensible things exist independently of my perceptions 3) there must be some other perceiver. Therefore God is the perceiver. He goes on to say that since were purely passive in our perceptions and God is purely active, it is God that excites ideas in our minds. In the Third Dialogue, Hylas asks how idealism can distinguish a dream from reality (since they are both depending on the mind). Philonous answers him by saying that dreams and products of the imagination are faint and dependent on the will; sense impressions are livelier and do not depend on the will. Hylas also brings up the fact that if God is the author of all things, he would also be the author of evil; Philonous says that evil doesnt exist outward, only inward and that we are in control of our own wills. At first I found Berkley very convincing in his arguments about perception, but as with other philosophers, when he gets to the existence of God, their argument falls apart. The thought of God exciting all our ideas through our souls is a bit strange. Yes all perceptions have to be first perceived by God, and that God had to have an idea of us doing something for it to actually happen is crazy. I dont agree with Berkeleys use of God, but I dont necessarily agree that God just created the world and people in it and steps away from it (Descartes, Meditations); there has to be some type of middle ground. If you fuse the philosophies of Descartes and Berkeley, I believe that one could come up with something more believable, its just too hard to believe that God does everything because in a sense your saying that God who is all powerful and omnipresent uses us to act here on Earth, which is absurd since we are finite and he is infinite. I didnt quite get Berkeleys concept that God is all active and first perceives us doing things before we do them because is flawed. If that were true, you would have to infer that God is also the author of evil. If God perceives everything we do before we do it and everything we do our first His ideas, then he would be able to stop evil doings. What Berkeley says about us being in control of our own wills would have to be false because if that were true, we would be in control of our own perceptions in my opinion. It just seems that if that were true, then everything we did would be in a sense godly, and that obviously isnt true. It makes perfect sense to me that are senses play a big role in how we view the world around us, but although he was convincing in that concept I, couldnt help but thinking that Hylas had a lot of good points also. There must be something innate in objects that make them the objects they are, or else we why would we need to name the objects to discern one from another? I thought that Berkely had a good theory, but it wasnt realistic, although convincing. If I cant agree with Berkeleys use of God, then his whole theory starts to starts to fall apart because hes using God as a sort of cushion for his concept, but I dont think he uses God in the right way. Because Berkely is a bishop, he cant be really objective when it comes to God. He already has preconceived thoughts, and for philosophy to work one needs to dispel all previous conceptions on all subject matter, but obviously he cant because of his vocation. This is where his argument on God is flawed. I believe that the reason why philosopher arguments get confusing or nonsensical when it comes to God is because I believe that back then religion was uniform. Taboo to go against it, whereas now we have many. Many religions open up many different ways of viewing God. I believe this is important when it comes to philosophy because philosophy is most broadly defined as love and pursuit of wisdom by intellectual means and moral self-discipline. You cant truly have self exploration without being willing to accept new things or at least the possibility of new things. In conclusion, I could not agree with Berkeleys idealisms, but they did make me think about they way I view the world. At the end of the day, I feel that personal biases will always get in the way of the way we perceive.

Finite Evidence and Universal Propositions :: Ampliative Logic

Finite Evidence and Universal Propositions There is a lot of empirical evidence supporting the proposition '‘All metals expand when heated’. For example on many, many occasions we have observed metals expanding when heated. Because of this large amount of evidence we take the proposition to be true (or highly likely to be true). The proposition '‘All metals expand when heated’ is caled a universal proposition. A universal proposition mentions al things of a certain kind. The proposition '‘Al metals expand when heated’ is about al metals, not just some of them; it is about al pieces of metal, not just some pieces. Any piece of metal, any kind of metal, according to this proposition, wil expand when heated. Now as we have said there is a great deal of evidence supporting this universal proposition; it is not a proposition that many would doubt. But however large the body of evidence supporting this proposition, and whatever the variety, this body of evidence is finite. Our experience is finite, even our colective experience. But the proposition is universal: it refers to al metals, not just this bit or that bit, nor this kind or that kind. Any bit of metal at al, whatever kind, wil expand when heated. This is what the proposition says. The proposition does not just say, only those bits of metal that we have observed, expand when heated. Those bits we have observed, they expand when heated; but the proposition also says, even those bits that we have not observed expand when heated. This is what the '‘al’ means; this is why we cal the proposition universal. The evidence which supports ‘Al metals expand when heated’ is finite. The proposition which draws support from this evidence is universal. How can finite evidence support a universal proposition? A universal proposition, even when supported by evidence, goes wel beyond evidence. There are infinitely many bits of metal. Compared to the many bits of metal in the universe the bits we have observed is only a tiny fraction. How can a tiny fraction support such a large number? When we have no evidence for a proposition we would not take the proposition to be true. When we have only a litle evidence for a proposition we stil would not take it to be true. If we are to take a proposition to be true, or likely to be true, we require a large amount of evidence.

Zydeco

Jamarcus Burks October 15, 2012 A fiddle, accordion, guitar, and a washboard are all you need to create the sweet sound of Zydeco. Zydeco music is a mixture of Blues or Jazz music with an upbeat tempo. Zydeco music has grown with my family. It is like a china dish your great grandmother passes down. The music is unique from the message it sends to the crazy two stepping dance that goes along with it. Zydeco music plays a significant role in my life. The first time I heard Zydeco music, I thought it sounded like someone kicking the side of a trash can mixed with a horrible marching band.I was about seven years old, but I remember it like it happened yesterday. My family was eating dinner at my Grandmother’s house and I had recently moved back to Waco, Texas with my dad. I could remember asking, â€Å"What is that noise? † It took me three years to understand what Zydeco truly means, but I took no time to learn the two-step dancing. I listened to Zydeco at a young age, no t knowing I did not understand the meaning behind the music, or the important role it played in my life.To me, Zydeco is more than music; it is a way of life. I have listened to Zydeco music through good and bad times throughout my life. My family plays Zydeco music at family gatherings and social events such as holidays, trail rides, birthdays, baby showers, and even funerals. No matter where we would be, we would listen and dance like there was no tomorrow. For as long as I can remember, my family has been playing Zydeco music at funerals. Some people may think it is disrespectful, but it is a family tradition.The reason we play Zydeco at all of our gatherings, is because growing up we were taught to always look at the positive aspects of life. So when a death occurs in the family, we listen to Zydeco and it reminds us that our loved one will always be with the family, but in a better place. Listening to Zydeco gives me a warm and grateful feeling inside. It comforts me to know th at no matter what the situation is, there is always a reason to smile. There are different styles of Zydeco such as Zydeco Jazz, Zydeco Blues, and the most popular is Button Box.Zydeco artists send different messages through their songs. Songs have different messages like celebrating; being in love, and the trials and tribulations a person goes through every day. Every generation has one Zydeco artist whose music they grow up dancing and listening to. Artists send positive messages about life or simply having a good time. Over the years, one of the main messages Zydeco artists send to fans is to be thankful for being alive. Older Zydeco music focuses on being alive, but I’ve learned that it has developed over time.However, I feel that there is always a Zydeco song to make me feel better. I believed Zydeco music could impact my life in ways it has. It has always been part of my family and that will continue for decades. That sweet sound transformed me the first time I heard it . However, the song that I always turn to is â€Å"Tu Le Ton Son Ton† by Andre Thierry & Zydeco. Andre Thierry’s song reminds me to keep doing my best throughout the week, and that the weekend is near. I learned over the years what Zydeco truly means and how my family expects me to carry on the tradition with my children.

3 Tips to Improve Writing in English

3 Tips to Improve Writing in English The most important rule to writing effectively is to not repeat yourself. Each of these three rules focuses on avoiding repetition in English. Rule 1: Dont Repeat the Same Word One of the most important rules in writing English is to avoid repetition. In other words, dont use the same words over and over again. Use synonyms, phrases with a similar meaning, and so on to spice up your writing stile. Sometimes, this is not possible. For example, if you are writing a report about a specific disease or perhaps a chemical compound, you will not be able to vary your vocabulary. However, when using descriptive vocabulary, its important to vary your choice of words.   We went on holiday to a ski resort. The resort was very beautiful with lots of things to do. The mountains were also beautiful, and, to be honest, there were also many beautiful people. In this example, the adjective beautiful is used three times. This is considered poor writing style. Here is the same example using synonyms.   We went on a holiday to a ski resort. The resort was very beautiful with lots of things to do. The mountains were majestic, and, to be honest, there were also many glamourous people.   Rule 2: Dont Repeat the Same Sentence Style In a similar way, using the same sentence structure by repeating the same structure over and over again is also considered bad style. Its important to know a variety of ways to make the same statement. This is often referred to as using equivalencies. Here are some examples  of similar types of sentences using different equivalencies to vary the style. The students studied hard as the test was sure to be difficult.They reviewed the grammar in great detail due to the many exceptions.Sentence structure was reviewed, for it was sure to be on the test.As they had covered all the materials, the students were assured success. In the four sentences above, Ive used four different variations on because. Sentences one and four use subordinating conjunctions. Note that the dependent clause can begin the sentence if followed by a comma. The second sentence uses a preposition (due to) followed by a noun phrase, and the third sentence uses the coordinating conjunction for.   Heres a quick review of these forms: Coordinating Conjunctions - also known as FANBOYS. Combine two simple sentences with a coordinating conjunction preceded by a comma. Coordinating conjunctions can NOT begin a sentence.   Examples The weather was very cold, but we took a walk.She needed some extra money for her vacation, so she found a part-time job.The toy was broken, for the boy had thrown it against the wall. Subordinating Conjunctions - Subordinating conjunctions introduce dependent clauses. They can be used to begin a sentence followed by a comma, or they can introduce the dependent clause in the second position without using a comma. Examples Though we need to review the grammar, we decided to take the day off for some fun.Mr. Smith hired a lawyer as he needed to defend himself in court.Well take car of the problem when John returns. Conjunctive Adverbs - Conjunctive adverbs begin a sentence linking it directly to the sentence before. Place a comma directly after the conjunctive adverb. Examples The car was in need of repair. As a result, Peter took the car into the repair shop.Its very important to study grammar. However, knowing grammar doesnt necessarily mean you can speak the language well.Lets hurry up and finish this report. Otherwise, we wont be able to work on the presentation. Prepositions - Prepositions are used with nouns or noun phrases NOT full clauses. However, prepositions such as due to or despite can provide a similar meaning to a dependent clause.   Examples Just like our neighbors, we decided to put a new roof on our home.The school decided to fire the teacher despite the students protest.As a result of poor attendance, well have to repeat chapter seven. Rule 3: Vary Sequencing and Linking Language Finally, when writing longer passages youll be using linking words and sequencing to connect your ideas. As in word choice and sentence style, its important to vary the linking language you use. For example, there are many ways to say next. If you are providing instructions, try to vary the words you use to take someone through each step in the process.   Instead of writing: First, open the box. Next, take out the equipment. Next, insert the batteries. Next, turn the device on and begin work. You could write: First, open the box. Next, take out the equipment. After that, insert the batteries. Finally, turn the device on and begin work. This is a just a short example to give you an idea. Try to vary the sequences, or linking language you use in each paragraph. If you use first, secondly, thirdly, finally in one paragraph, switch it up and use to begin with, next, after that in another paragraph. Follow the links in this article to study each of these variation types in more depth and you will quickly improve your writing style through variety.

Digitization and convergence of music industry

Digitization and convergence of music industry Traditional record industry business model Sacha Wunsch-Vincent and Graham Vickery note that the relationship between the artist and the record company is usually contractual which normally last for a limited period of time or number of records depending on the specification of the contract.1 Record companies converts the artistic creation into consumer products alongside investing in artists to expand and market their works.2 Advertising We will write a custom essay sample on Digitization and convergence of music industry specifically for you for only $16.05 $11/page Learn More A record industry can be said to be doing extremely good if one in ten of the total artist investment in turn out profitable. Noteworthy, most artist often never sell enough to recover the incurred overall cost. Record companies sponsor novice artists from profits, catalogues sales and new releases. Artist must achieve a specified number of copies sold to break even. The customary re cording industry revenue is collected from recordings while the turnover from T-shirt sales, concerts and so forth, normally grow to the artist. Once a music piece has become popular, the music industry package industry in diverse bundles to sell the same consumer the same piece multiple times.1 In times of increasing revenue from sponsorship, merchandised, live touring and declining sales of CDs the industry has experience a shrinking share in the general 1Sacha Wunsch-Vincent and Graham Vickery, ‘Digital Broadband Content: Music’, Working Party on the Information Economy: Directorate for science, technology and industry committee for information, computer and communications policy, 2004, p. 39. 2Barney Wragg, Vice President, eLabs, Universal Music International (UMI) and Ms. Sara John, Government Affairs Head, EMI Music during the OECD Digital Broadband Content Panel (OECD, 2004b).Advertising Looking for essay on art and design? Let's see if we can help you! G et your first paper with 15% OFF Learn More music revenue. With regard to declining CD sale, the negative outcome of the changing record label approach on the artist’s returns had to be revisited in terms of digital music sales also which may shift artists’ returns. 1 Digital rights management (DRM) Effective DRM technologies have been embraced as the business enablers has for the digital delivery of music as well as for the numerous business models that meet the consumers expectations. In spite of their drawbacks, they may be a significant technical device for protecting the IPRs and have potential of becoming persistent across the overall digital distribution chain. Through their capacity to secure content, they may motivate the content rightholders to avail content for digitization and ensuing digital sales. By virtue of their ability to offer diverse access schemes to content the, DRMs may afford content aids that are conform to consumer needs incl uding the right to buy time-limited admittance to songs and thereby increasing consumers choice and expectation. Many problems are associated with DRMs. To begin with the key problems with DRM’s appear to have had difficulty in curbing unauthorized access. DRM programmes and technologies should be substantially robust to guarantee the protection of digital content to piracy. Means of harnessing technology to secure intellectual property have been developed and have taken effect. 3European Commission, ‘communication on The Management of Copyright and Related Rights in the Internal Market’. To address this issue, various governments have pledge to develop a sufficient legal protection and useful legal solutions against the circumvention of technological security interventions such as DRMs. These lawful protections are prerequisite for DRMs to function as expected. 1 Second, the expanding adaption of DRM technologies has posed question that the latter may potentiall y restrict usage rights. Indeed this concern has become a policy basis presumably for consumer association and is apparent in relevant forums. Based on some academics, limits place to private copies can turn out bothersome when they swing the equilibrium between the expectations of copyright holders as well as the public.Advertising We will write a custom essay sample on Digitization and convergence of music industry specifically for you for only $16.05 $11/page Learn More DRMs have seldom been known to block legitimate access of content and services, unlike the CD-Rom copy-protection technologies. Nevertheless, designers of DRM, users of DRM-protected product must be equally concerned to ensure suitable usage rights, and players in the market adapting DRM, transparency, privacy, and ease reliability of access.1 Bibliography European Commission, ‘communication on The Management of Copyright and Related Rights in the Internal Market’, 2004, pp. 11 Wragg B, John S, ‘EMI Music during the OECD Digital Broadband Content Panel’ (OECD, 2004b). Wunsch-Vincent, S Vickery G, ‘Digital Broadband Content: Music’, Working Party on the Information Economy, Directorate for science, technology and  industry committee for information, computer and communications policy, 2004, p. 39.

HOW DO ONLINE SOCIAL NETWORKS AFFECT COMMUNICATION Assignment

HOW DO ONLINE SOCIAL NETWORKS AFFECT COMMUNICATION - Assignment Example Most of the users are teenagers to young adults who spend several minutes to hours of online networking with relatives, friends, and even complete strangers. Still, no matter how or whom these users interact with in this OSN world, the main reason is to interact and communicate. 1 For those who lived in a world prior to the advent of the internet and social networks, socializing mostly involves face-to-face communication. Release of private and personal information was limited to close friends or relatives, and never given to strangers. Now, people see information such as family trees, sexual preferences, mobile phone numbers, and even addresses, posted online. Despite the so-called control given by these OSN sites to keep the account private or viewable only to a limited group of people, it does not guarantee the safety of such information. Private thoughts and personal activities are posted as status messages, creating an image and feeling of closeness, openness, and reaching out a mong members of these OSN sites. Before, individuals share thoughts among close friends, limiting the responses within their circle.

Finance Project Essay Example | Topics and Well Written Essays - 1250 words

Finance Project - Essay Example As the project considers a period of ten years critical evaluation is required to decide the outcome of the project. Analysis: 1. The expected cost for the project: Year Expected cost(in million dollars) 1 25 2 28 Opportunity cost of the project= 8% Present value of the cost of the project: Cost (i) Discounting factor at 8 % (ii) Present value (i*ii) 25 0.926 23.15 28 0.857 23.996 2. Present value of the after tax cash profit: Year( i) Cash flow(after tax) (in million $) (ii) Discounting factor at 8% (iii) Present value(ii*iii) 3 6 0.794 4.764 4 7 0.735 5.145 5 8 .681 5.448 6 9 0.63 5.67 7 9 0.583 5.247 8 9 0.541 4.869 9 9 0.5 4.5 10 9 0.463 4.167 11 9 0.429 3.861 12 9 0.397 3.573 Total present value of cash flows=$47.244. Discounting Factor values (Present Value of an Ordinary Annuity Table, n. d) 3. Expected Net present value= Present value of the total cash inflow-the present value of the total cash outflow= 47.244-(23.15+23.996) (Kapil, n. d, p.399) = $ 0.098(in millions) As the figure here reflects a positive NPV so the project will be beneficial to the organization and should be accepted. The calculation of the Net Present Value is a method of Capital Budgeting which is done to critically evaluate the profitability behind the implementation of a new project. The positive value in the result favors the acceptability of the project. 4. Risk inherent to the project: The common risks which are associated with any business are business risk, financial risk and market risk. Business risk involves the risk under which the firm is unable to cover the operating cost associated. In the case of power Co, it is planning to install new generator thinking about the increase in demand. A study assumes that the building process will take 2 years and in the two years’ time, there will not be much inflow from the new generator involved. If the risk arises in the business that the involvement of the new project will pose a difficulty in raising the operating cost of the project, then the business runs the probability of becoming insolvent. The next type of risk which the business is likely to face is the financial risk. Financial risk involves the mode of financing for the project. The firm may be unable to meet its financial obligation for the project. In such case the debt of the firm will increase and the firm will not be able to realize the expected profit. In dealing with such kind of risk Power Co should be careful in choosing its mode of finance. It should chose an option which appears flexible for the business, it will be better if the firm chooses optimum financial mix for the purpose which should have a considerable amount of the portion of the equity. (Gitman, 2007, p.427) A portion of the equity in the financing raises confidence among the investors and also does benefit the organization in the long run. The organization is relieved of the burden of repaying the debt to some extent in case of mixed financing. The final type of risk inherent in the business is the market risk. It is to be remembered that the main reason of Power Co in opting for the installation of the new generator is the prediction of the rise in demand. Power Co forecasted that within the next ten years their rate of production will be insufficient as they are the major suppliers of electricity in the region. However the

ESSAY QUESTIONS TO BE COMPLETED ON FRI Example | Topics and Well Written Essays - 3500 words

QUESTIONS TO BE COMPLETED ON FRI - Essay Example The fact that dropout prevention is being considered seriously is a good thing; however, the question arises as to which of these dropout prevention strategies and programs are really successful. Furthermore, schools should become more educated in dropout prevention in order for them to more effectively choose and apply the program and strategy that are appropriate in their situation. Hence, a review of the current and most popular dropout prevention strategies and programs is needed in order to ascertain what these different programs do, how they work, the concept behind them, and how successful have they been in their agenda of reducing high school dropout rates. The research design that will be used to complete this review is the quantitative research methodology as the research problem in itself is quantitative in nature. Statistics will play an important role in this study as the review will include relevant studies that have been made that shows the success rates of various dropout prevention strategies and programs. Only these statistical references will be used as this research will act as a review and compilation of available journal articles. These statistical data will be presented accordingly and analyzed using a point system of tallying. Data Collection. This research will be based solely on secondhand research. Statistical data composed of percentages of success rates will be compiled in order to ascertain which dropout prevention strategy and program works best at a given situation—high school students and dropouts differ in characteristics and so, various dropout prevention programs will have varying effects on the student population. This research will be based on these reliable references as undertaking an experiment that will have the desired effect will involve a lot of time and money. Data Analysis. Once the statistical data has been gathered, categories will be created based