Wednesday, September 2, 2020

Who is Jeffrey Dahmer Research Paper Example | Topics and Well Written Essays - 1750 words

Who is Jeffrey Dahmer - Research Paper Example Certain episodes of his life are fit as a fiddle his character as a killer, be that as it may, it can't be expressed as the motivation to give anybody freehand to do what he was doing. This paper will break down the character of Jeffery Dahmer as a killer who was engaged with doing unlawful gay exercises lastly murdering and mortifying the cadavers of his casualties during his criminal life. As per his folks expressed supposition, Dahmer was at first cool disapproved and furthermore had bunch exercises with his companions and colleagues however after his medical procedure of hernia when he was just six years of age, his character all in all demonstrated various changes. Hernia medical procedure of Dahmer can be ordered as the main rate of Dahmer’s life that got some psychological issues his life as he moved from being an ordinary youngster to a kid demonstrating unusual attributes. (Davis, 1991). Later on, he moved from his private spot to Bath Ohio that additional to his isol ation, as he needs to leave every one of his mates. He began indicating enthusiasm for school papers giving criminal stories. He additionally built up a preference for drinking (Masters, 1993). As an understudy, he was bad and demonstrated little worry towards his investigations. The cruel real factors of life occupied his dad and mom. Their disengagement added fuel to his contrary character and his dad couldn't show legitimate worry towards a child who began as being negative as a young person. His mom left him and his dad needed to move starting with one spot then onto the next spot regarding the business other than building up an illegal relationship with another lady. After partition from his mother, he felt himself increasingly shaky and surrendered. His being left lonely and relinquished constrained him to stroll on a way, which was not in the slightest degree average for a general public where virtues and morals matter (Masters, 1993). His exercises were absolutely against th e virtues of a general public having a maxim â€Å"Live and Let Live†. During his investigations at Ohio State University, dissimilar to an understudy like demeanor, Dahmer demonstrated no enthusiasm for his examinations and was associated with monstrous drinking propensities. College organization took him to the errand commonly for his apathetic mentality yet their activities neglected to put him destined for success. Under his father’s pressurized perseverance, Dahmer joined the Army for a time of six years in the year 1979. His dad thought about that by joining the power, he would have the option to redress his character and individual issues however his propensities for drinking were wild. He couldn't proceed with his calling in Army and got out inside a time of two years in particular. (Davis, 1991). In the wake of being released from Army, he was so intellectually upset that he engaged in all the more drinking and building up unlawful and illicit relationship wit h his companions. One such starting episode that occurred in his life was with a 19 years of age kid named Steven whom he welcome to his father’s home to drink and to have intercourse with him. He drank regularly during the sex. Dahmer’s first execute was this kid as he was hit hard on his head for his battle to leave Dahmer. Dahmer slaughtered the kid as well as slashed up his body into numerous pieces and put the pieces in plastic sacks and put in the wooden box around his father’s property. After a significant timeframe, he opened up the wooden box and crushed bones and head of Steven for putting in the timberland. This shows Dahmer was intellectually not inattentive, as he realized that he needed to conceal what he had fouled up. His age was 18 years when he killed referenced kid (Davis, 1991). Jeffery Dahmer proceeded to

Saturday, August 22, 2020

Research Paper on Pollution Prevention

Blast or Bust: Prohibition Coursework Was will undoubtedly come up short? A-: Study source An and B. How far do these two records concur and disallowance? Source an is managing two distinct sources yet both about the subject which is Prohibition. Huge numbers of history specialists have their own supposition about it, yet the primary inquiry is of these two-account show much do they concede to about Prohibition. Source A will be an area of composing that was distributed in 1973 and was taken from a history book. They plainly express that antiquarians differ about what was mostly to fault for the presentation of forbiddance. By 1917 twenty-three states had just had the boycott instated that is expressed in the source. Fundamental potential clarifications that are expressed in the source are the terrible impacts cantinas, wartime worry for protecting grain for food, feeling against the German Americans who were significant in preparing and refining and the impact of the Anti-cantina class t when huge quantities of men were missing in the military. Despite the fact that numerous individuals were against disallowance then again there were numerous individuals who were for it. This is appeared in the source when they express the twenty-three states had become ‘dry’. The source additionally expresses that is was fundamentally men this is indicated when they state that the military num bers were exceptionally low. The explanation that there were awful inclination between the Americans and the German Americans were on the grounds that World War 1 had not occurred to some time in the past. The source additionally expresses that it had made the greatest criminal blast in American history and maybe in all cutting edge history. â€Å"No prior law had conflicted with the day by day customs of such huge numbers of Americans.† This last sentence of the source is significant in light of the fact that it wholes everything into one line and I realize that the source concurred with the key inquiry on account of that sentence. Source B is taken from a history book also however was distributed in 1979. This source clarifies more what occurred after preclusion had come into law. The source enlightens us regarding the associations that were supporting the prohibition on liquor, for example, the Women’s Christian Temperance association and the Anti cantina alliance. Both of these associations needed to stop alcholism.they did this by squeezing congress to boycott the utilization of grain for either fermenting or refining.

Friday, August 21, 2020

Idioms Translation and Cultural Differences

Expressions Translation and Cultural Differences Expressions Translation and Cultural Differences Unique: As we probably am aware, language is carrier of culture and figures of speech are intensely socially stacked expressions and sentences. To decipher English figures of speech includes deterrents for Chinese highlights. At the point when a figure of speech is being deciphered, we will see it regularly hard as interpreted. While the way to decipher is that its metaphorical significance ought to be remained. In this paper, it is from day to day environments, customs, religions conviction and chronicled references to depict social contrasts among English and Chinese expressions, and nitty gritty portrayal of strategies in English and Chinese maxims interpretation. Catchphrases: Language , Cultural contrasts , Idioms , Translation strategies 1. Presentation Language is the bearer of culture. Both English and Chinese language has a long history.They have countless phrases, they are certainly, humor, genuine and rich. While phrases are a significant piece of any language, and figure of speech interpretation assumes a significant job in interpretation. Colloquialism is a discourse structure or an outflow of a given language that is exceptional to itself linguistically or can't be comprehended from the individual implications of its components. Figures of speech incorporate sayings, proverbs,slangs, etc. At the point when we make an interpretation of figures of speech from Chinese into English or English into Chinese, we should know the social contrasts among English and Chinese expressions, and we can locate the correct interpretation strategies. 2. the Cultural Differences among Chinese and English Idioms Figures of speech interpretation is an intercultural action, in this way, we should mull over social contrasts when we decipher them. What's more, the social contrasts among English and Chinese expressions can be ordered into four sorts. 2.1. From day to day environments The regular habitat is the premise of human living and improvement. China is a nation with mainland atmosphere, Chinese individuals live in the landmass of Asia. Since antiquated occasions, China is a huge agrarian nation, the land is imperative to people groups life. In this way, there are numerous figures of speech identified with wind, farming and land-related. For example, æâ€" ©Ã¨ â€°Ã©â„¢ ¤Ã¦ ¹ ( stamp out the foundation of difficulty ), é £Å¾Ã¨ °Æ'é› ¨Ã© ¡ º ( opportune climate for crop raising ), æÅ" ¥Ã¥Å"ÿå ¦â€šÃ©â€¡'( go through cash like water ) ä ¸â€¡Ã¤ ºâ€¹Ã¤ ¿ ±Ã¥ ¤â€¡Ã¥  ªÃ¦ ¬ ä ¸Å"é £Å¾ ( Everything is prepared aside from the east wind ), ä ¸Å"é £Å¾Ã¦Å¡ ¥Ã¦Ëœ ¥( )Chinese individuals can comprehend its importance, for British individuals it is troublesome. Since in Chinese east wind represents spring and warmth , and The United Kingdom is situated in the western side of the equator north calm zone, with marine atmosphere. In England, east wind originate s from the northern piece of the European landmass, and it represents crisp and horrendous ,while west wind represents spring in England, so they can not comprehend the genuine importance of Chinese colloquialism. In English there are numerous phrases identified with water, fish, pontoon, etc, for example, as frail as water (Ã¥ ¼ ±Ã¤ ¸ Ã§ ¦ Ã© £Å¾), in profound water (é™ ·Ã¥â€¦ ¥Ã¤ ¸ ¥Ã©â€¡ Ã¥â€º °Ã¥ ¢Æ') to keep ones head above water (Ã¥ ¥â€¹Ã¥Å¡â€ºÃ¥â€º ¾Ã¥ ¼ º), no big deal (æâ€" æ ³â€¢Ã¦Å" ½Ã¥â€ºÅ¾Ã§Å¡â€žÃ¨ ¿â€¡Ã¥Å¾ »)drink like a fish (è ± ªÃ© ¥ ®), to miss the vessel (é™å ¤ ±Ã¨â€° ¯Ã¦Å" º), all adrift (ä ¸ Ã§Ã¿ ¥Ã¦â€°â‚¬Ã¦Å¾ ª). 2.2. From customs There are numerous contrasts among English and Chinese traditions. In China, individuals think themselves are relative of the Dragon, the mythical beast is an image of propitious creatures. In this way, we have mythical serpent related maxims contain complimentary sense. For example, æÅ"݌ ­ Ã¦Ë† Ã© ¾â„¢(To anticipate that ones child should turn into an exceptional personage), é ¾â„¢Ã¥â€¡ ¤Ã¥'ˆç ¥ ¥(Harmony rules, etc. In western nations, they think monster is a fire-breathing creature and it is frightening. What's more, people groups mentality toward the canine is unique. In English-talking nations, individuals think the canine is a loyal creature to human, for example, Youre a fortunate dog(ä ½ æ˜ ¯Ã¤ ¸â‚¬Ã¤ ¸ ªÃ¥ ¹ ¸Ã¨ ¿ Ã¥â€ž ¿),Every hound has his day(å‡ ¡Ã¤ º ºÃ©Æ' ½Ã¦Å"‰å ¾â€"æ„ Ã¦â€" ¥).On the opposite, the pooch is a humble creature in China. For example, ç‹ ¼Ã¥ ¿Æ'ç‹â€"è‚ º ( severe and cutthroat ),ç‹â€"çÅ" ¼Ã§Å"‹ä º ºÃ¤ ½Å¾( the cursed self important ),ç‹â€"å˜'é‡Å"Ã¥  Ã¤ ¸ Ã¥â€¡ ºÃ¨ ± ¡Ã§â€°â„¢( a mutts mouth transmits no ivory ),and so forth. There is another model, in Chinese culture, bull is the image of constancy. From antiquated occasions, Chinese ranchers went in for cultivating with the assistance of bull. So Chinese give love and recognition to bull. At that point in Chinese we have åš›å ¤ §Ã¥ ¦â€šÃ§â€°â€º when it is converted into English, it ought to be as solid as a pony, Chinese individuals state Ã¥Æ' Ã§â€°â€ºÃ¤ ¸â‚¬Ã¦ ·Ã¥â€¹ ¤Ã¥Å¡ ³, in English, individuals state work like a pony . We utilize diverse creature to communicate a similar importance. In Chinese, there are a few figures of speech identified with eat , for instance Ã¥ Æ'ä ¸ Ã¤ ºâ€ Ã¥â€¦ Å"ç â‚¬Ã¨ µ °means wind up in genuine trouble,Ã¥ Æ'è ½ ¯Ã¤ ¸ Ã¥ Æ'ç ¡ ¬means can be convinced by reason yet not be cowed forcibly. A few maxims in view of their particular national highlights, can not found in English comparing articulation. 2.3. From religions conviction Strict conviction is a significant part in culture. Diverse strict convictions had various appearance in changed expressions. Chinese individuals have faith in Buddhism and Taoism, thusly there are numerous Chinese figures of speech are identified with Buddhism. For example, å€ÿèš ±Ã§Å" ®Ã¤ ½â€º( acquiring the chance ),æ™ ®Ã¥ º ¦Ã¤ ¼â€"çÿ( salvation of every single aware being ),Ã¥ ¹ ³Ã¦â€" ¶Ã¤ ¸ Ã§Æ' §Ã© ¦â„¢Ã¯ ¼Å"æ€ ¥Ã¦  ¥Ã¦Å¡ ±Ã¤ ½â€ºÃ¨â€žÅ¡( when the demon was debilitated, the fallen angel a priest would be ),é Ã© «ËœÃ¤ ¸â‚¬Ã¥ ° ºÃ¯ ¼Å"é ­Ã© «ËœÃ¤ ¸â‚¬Ã¤ ¸Ë†( While the cleric climb a post, the fiend climb ten )and so forth. While in English-talking nations, individuals have confidence in Christianity. So they have numerous figures of speech identified with Christianity. For example, flat broke (ä ¸â‚¬Ã¨' «Ã¥ ¦â€šÃ¦'â€" ) God help the individuals who help themselves (ä ¸Å¡Ã¥ ¸ Ã¥ ¸ ®Ã¥Å¡ ©Ã¨â€¡ ªÃ¥Å¡ ©Ã§Å¡â€žÃ¤ º º), God sends fortune to fools (å‚ »Ã¤ º ºÃ¦Å"‰å‚ »Ã§ ¦ ), Go to hellfire (ä ¸â€¹Ã¥Å" °Ã§â€¹ ±Ã¥Å¾ »), Gods factory goes gradually, however it crush well (Ã¥ ¤ ©Ã§ ½'æ  ¢Ã¦  ¢Ã§â€" Ã¨â‚¬Å"ä ¸ Ã¦ ¼ ), wash ones hands off (æ'â€" 手ä ¸ Ã¥ ¹ ²), the Day of Judgment (æÅ" «Ã¦â€" ¥Ã¥ ® ¡Ã¥Ë† ¤, etc. 2.4. From chronicled inferences A significant piece of chronicled culture is verifiable inference, and England and China have an enormous number of expressions started from authentic suggestion. These expressions are straightforward however broad, and we regularly can not be comprehended from the exacting importance. In Chinese we have Ã¥ ®Ë†Ã¦ ªÃ¥ ¾â€¦ å… ( sit tight for godsends ),ä º ¡Ã§ ¾Å¡Ã¨ ¡ ¥Ã§â€° ¢( preferred late over never ),æ‹è‹â€"åš ©Ã©â€¢ ¿( ruin things by inordinate excitement )ï ¼Å"èž ³Ã¨Å¾â€šÃ¦ â€¢Ã¨ â€°Ã¯ ¼Å"é »â€žÃ©â€ºâ‚¬Ã¥Å" ¨Ã¥ Å¾( Mantis get a cicada, siskin is hind.),å››é  ¢Ã¦ ¥Å¡Ã¦ ­Å"( be beat on all sides )and so on. Most English suggestive figures of speech originate from the Bible and Greek and Roman folklore. For example, Achilles heel (Ã¥ ¯Ã¤ ¸â‚¬Ã¨â€¡'Ã¥' ½Ã§Å¡â€žÃ¥ ¼ ±Ã§â€š ¹), Penelopes web (æ ° ¸Ã¨ ¿Å"Ã¥ ®Å"ä ¸ Ã¦Ë† Ã§Å¡â€žÃ¥ · ¥Ã¤ ½Å"), The Trojan Horse (æÅ" ¨Ã© © ¬Ã¨ ® ¡Ã¯ ¼â€ºÃ¦Å¡â€"èâ€" Ã§Å¡â€žÃ¥  ±Ã©â„¢ ©), Meet ones Waterloo (ä ¸â‚¬Ã¨' ¥Ã¦ ¶â€šÃ¥Å" °), last curtain call (ç » Ã¥ ±), bolt of Cupid (ä ¸ËœÃ¦ ¯Ã§â€° ¹Ã¤ ¹â€¹Ã§ ® ­), A Pandoras box (æ ½ËœÃ¥ ¤Å¡Ã¦â€¹â€°Ã¤ ¹â€¹Ã§â€º'ï ¼Å"Ã¥  ³Ã§  ¾Ã©Å¡ ¾Ã£â‚¬ Ã© º »Ã§Æ' ¦Ã£â‚¬ Ã§ ¥ ¸Ã¥ ® ³Ã§Å¡â€žÃ¦ ¹Ã¦ º ), The apple of conflict (ç ¥ ¸Ã¦â€š £Ã¯ ¼â€ºÃ¤ ºâ€°Ã§ « ¯)and so on. 3. Standard and strategies for colloquialism interpretation Figures of speech are typically short in structure however significant in sense. Every saying bears a picture and a metaphorical significance. Colloquialisms interpretation should be dependable. Reliable methods the Chinese variant must be dedicated to the English colloquialism at any rate in allegorical sense, and English expressions are not actually equivalent to the Chinese phrases in metaphorical sense however they give off an impression of being. For instance, pull ones leg isn't equivalent to 拉å Å¾Ã¨â€¦ ¿, move paradise and earth isn't equivalent to ç ¿ »Ã¥ ¤ ©Ã¨ ¦â€ Ã¥Å" ° and childs play isn't equivalent to å„ ¿Ã¦Ë† . So as to be dependable in interpretation ,we ought to pass on the first allegorical implications and penance the pictures. Consequently, pull ones leg can be rendered into Chinese as Ã¥ â€"ç ¬'æÿ Ã¤ º º, move paradise and earth can be rendered into Ã¥ ° ½Ã¥Å¡â€º and childs play can be rendered into Chinese as æ˜å ¦â€šÃ¥  Ã¦Å¾Å". Every on e of these interpretations are devoted to the first metaphorical implications. So every saying bears a picture and a metaphorical significance. An English colloquialism and a Chinese expression which are same in picture possibly extraordinary in non-literal importance. In the event that we can move both the picture and the non-literal significance by exacting interpretation, we should utilize strict interpretation. On the off chance that we can not, we should better keep the allegorical importance and penance the picture. At that point, we should utilize free interpretation. As a rule, the basic techniques for interpreting phrases are the accompanying sorts: 1. Strict interpretation 2. Free interpretation 3. Strict interpretation + Free interpretation 4. Adjusted interpretation 3.1. Strict interpretation A strict interpretation is an interpretation that follows intently the type of the source language. On the off chance that the picture and the allegorical significance are not conflicting to one another, at that point them two can be held in the interpretation, we should put forth attempts to decrease the misfortune in interpretation and utilize strict interpretation technique however much as could be expected. For example, time is cash is converted into æâ€" ¶Ã©â€"'Ã¥ ° ±Ã¦Ëœ ¯Ã©â€¡'é' ±, which protects its unique picture and metaphorical importance. There are numerous figures of speech of this sort: In English, 1) Forbidden natural product is sweet. ç ¦ 

Wednesday, June 3, 2020

Study On Currency Risks Handled By Indian Firm Finance Essay - Free Essay Example

The objective of this project is to examine how the impacts of currency exchange risks are dealt by the Indian Firms. Currency Exchange Risk in Global Market is a burning issue for any firm or corporate involved in business overseas. In this scenario, India is of course the one country where we have a lot of scope to focus on as far as the study of currency risk in business is concerned. If we see the world wide scenario, the financial sector is facing a lot of adjustment problems in the rapid changes in the economic financial environment. Now Indian financial system cannot be indifferent to this universal phenomenon. I would like to take the example of the Indian IT giants with special emphasis on TCS, in this exploratory paper to see how the currency swings affected the business of TCS in last couple of years and would try to provide some supportive data to show the same. It is very interesting to see how the companies like TCS uses different derivative instruments to keep the sustainability of its performance in the financial market by hedging the financial risks, specially related to the volatility of the money market and foreign currency exchange rates. How Companies use Derivatives for Hedging Risk Management Hedging Hedging, in simple words, says controlling or reducing risk. This controlling or reducing risk is done by taking a position in th e futures market that is opposite to the one in the physical market with an objective to reduce or limit risks associated with price changes. A simple example will help us understand it better. A wheat farmer can sell wheat futures to protect the value of his crop prior to harvest. If there is a fall in price, the loss in the cash market position will be countered by a gain in futures position. 2.2. Derivatives Derivatives are those financial instruments whose values depend on the value of not only the underlying financial instruments but on any underlying asset. We can take the same example of the wheat farmer. Here, the wheat farmer can protect itself of any fall in price by entering into a contract with the merchant. Some of the derivative instruments are: Futures, Swap, Options, and Forwards. To summarize, Hedging can be defined as a method where one can reduce the financial exposure faced in an underlying asset due to volatility in prices by taking an opposite position in the derivatives market in order to off-set the losses in the cash market by a corresponding gain in the derivatives market. This above definition captures the basic essence of derivatives hedging. Now having understood the basic meaning of hedging and derivatives, we would now see how corporate use these derivative instruments for hedging. 2.3. Foreign Exchange Risks The most common corporate uses of derivatives is for hedging foreign-currency risk, or foreign exchange risk, which is the risk that a change in currency exchange rates adversely impacts business results. Lets consider an example with Infosys Technologies, a multi-national IT company which even exports soft wares to other countries, and mainly to US. Lets make an assumption that Infosys Technologies exports software worth 1000 Crores to US in 2006-07 when the price of per US Dollar was at Rs. 40 (assumption). When the rupee per dollar exchange rate increases from Rs. 40, Rs. 42, Rs. 44, it takes more rupees to buy one dollar, meaning the rupee is depreciating or weakening. As the rupee depreciates, the softwares which Infosys exports would translate into greater sales in rupee terms. This demonstrates how a weakening rupee is not all that bad: it can boost export sales of Indian companies. Now lets illustrate a simple hedge that a company like Infosys Technologies might us e to minimize the effects of any Rupee / USD exchange rates, Infosys purchases 2000 foreign-exchange futures contracts against the Rupee / USD exchange rate. The value of the futures contracts will not, in practice, correspond exactly on a 1:1 basis with a change in the current exchange rate (that is, the futures rate wont change exactly with the spot rate), but we will assume that it does anyway. Each futures contract has a value equal to the gain above the Rs. 40 Rupee/USD rate. (Only because Infosys took this side of the futures position, somebody the counter-party will take the opposite position.) Of course, its not a free lunch: If the strategy of Infosys goes against it, that is, if the dollar were to weaken instead, then the increased export sales are mitigated (partially offset) by losses on the futures contract. 2.4. Hedging Interest Rate Risks Companies can hedge interest-rate risks in various ways. Consider a company that expects to sell a division in one year and at that time to receive a cash wind-fall that it wants to park in a good risk-free investment or a company had an unexpected profit, if the company strongly believes that interest rates will drop between now and then, it could purchase (or take a long position on) a treasury futures contract. The company is effectively locking in the future interest rate. Fair Value Hedges The Company [XYZ] had two interest rate swaps outstanding at January 1, 2008 designated as a hedge of the fair value of a portion of fixed-rate bonds. The change in fair value of the swaps exactly offsets the change in fair value of the hedged debt, with no net impact on earnings. XYZ Company uses an interest rate swap. Before it entered into the swap, it was paying a variable interest rate on some of its bonds. (For example, a common arrangement would be to pay LIBOR plus something a nd to reset the rate every six months.) Now lets look at the impact of the swap, the swap requires XYZ to pay a fixed rate of interest while receiving floating-rate payments. The received floating-rate payments are used to pay the pre-existing floating-rate debt. XYZ is then left only with the floating-rate debt, and has. Therefore, managed to convert a variable-rate obligation into a fixed-rate obligation with the addition of a derivative. Here we can call this as a perfect hedge: The variable-rate coupons that XYZ received compensates for the companys variable-rate obligation. 2.5. Commodity or Product Input Hedge Companies that depend heavily on raw-material inputs or commodities are sensitive, sometimes significantly, to the price change of the inputs. Airlines, for example, consume lots of jet fuel. Historically, most airlines have given a great deal of consideration to hedging against crude-oil price increases although they need to be very careful and a great forecasting before going for such a strategy because the strategy itself would cost them a lot. As we reviewed here three of the most popular types of corporate hedging with derivatives. There are many other derivative uses, and new types are being invented. The derivatives that are reviewed are not generally speculative for the company. They help protect the company from unanticipated events: adverse foreign-exchange or interest-rate movements, and unexpected increases in input costs. The investor on the other side of the derivative transaction is the speculator. However, in no case are these derivatives free. Even if, for exam ple, the company is surprised with a good-news event like a favorable interest-rate move, the company (because it had to pay for the derivatives) receives less on a net basis than it would have without the hedge. Warren Buffetts stand is famous: he has attacked all derivatives, saying he and his company view them as time bombs, both for the parties that deal in them and the economic system. Foreign Exchange Risk Management Firms dealing with multiple currencies face risk in terms of unanticipated gain/loss on account of sudden/unanticipated changes in exchange rates, quantified in terms of exposures. Exposure is defined as a contracted, projected or contingent cash flow whose magnitude is not certain at the moment and depends on the value of the foreign exchange rates. The process of identifying risks faced by the firm and implementing the process of protection from these risks by financial or operational hedging is defined as foreign exchange risk management. My paper limi ts its scope to hedging only the foreign exchange risks faced by firms like TCS. 3.1. Kinds of Foreign Exchange Exposure Risk management techniques vary with the type of exposure (accounting or economic) and term of exposure. Accounting exposure, also called translation exposure, results from the need to restate foreign subsidiaries financial statements into the parents reporting currency and is the sensitivity of net income to the variation in the exchange rate between a foreign subsidiary and its parent. Economic exposure is the extent to which a firms market value, in any particular currency, is sensitive to unexpected changes in foreign currency. Currency fluctuations affect the value of the firms operating cash flows, income statement, and competitive position, hence market share and stock price. Currency fluctuations also affect a firms balance sheet by changing the value of the firms assets and liabilities, accounts payable, accounts receivables, inventory, loans in foreign currency, investments (CDs) in foreign banks; this type of economic exposure is called balance sheet exposure. Transactio n Exposure is a form of short term economic exposure due to fixed price contracting in an atmosphere of exchange-rate volatility. The most common definition of the measure of exchange-rate exposure is the sensitivity of the value of the firm, proxied by the firms stock return, to an unanticipated change in an exchange rate. This is calculated by using the partial derivative function where the dependant variable is the firms value and the independent variable is the exchange rate (Adler and Dumas, 1984). 3.2. Necessity of managing foreign exchange risk A key assumption in the concept of foreign exchange risk is that exchange rate changes are not predictable and that this is determined by how efficient the markets for foreign exchange are. Research in the area of efficiency of foreign exchange markets has thus far been able to establish only a weak form of the efficient market hypothesis conclusively which implies that successive changes in exchange rates cannot be predicted by analyzing the historical sequence of exchange rates.(Soenen,1979). However, when the efficient market theory is applied to the foreign exchange market under floating exchange rates there is some evidence to suggest that the present prices properly reflect all available information (Giddy and Dufey, 1992). This implies that exchange rates react to new information in an immediate and unbiased fashion, so that no one party can make a profit by this information and in any case, information on direction of the rates arrives randomly so exchange rates also fluctu ate randomly. It implies that foreign exchange risk management cannot be done away with by employing resources to predict exchange rate changes. 3.3. Foreign Exchange Risk Management Framework Once a firm recognizes its exposure, it then has to deploy resources in managing it. A heuristic for firms to manage this risk effectively is presented below which can be modified to suit firm-specific needs i.e. some or all the following tools could be used. Forecasts: After determining its exposure, the first step for a firm is to develop a forecast on the market trends and what the main direction/trend is going to be on the foreign exchange rates. The period for forecasts is typically 6 months. It is important to base the forecasts on valid assumptions. Along with identifying trends, a probability should be estimated for the forecast coming true as well as how much the change would be. Risk Estimation: Based on the forecast, a measure of the Value at Risk (the actual profit or loss for a move in rates according to the forecast) and the probability of this risk should be ascertained. The risk that a transaction would fail due to market-specific problems4 should be taken int o account. Finally, the Systems Risk that can arise due to inadequacies such as reporting gaps and implementation gaps in the firms exposure management system should be estimated. Benchmarking: Given the exposures and the risk estimates, the firm has to set its limits for handling foreign exchange exposure. The firm also has to decide whether to manage its exposures on a cost centre or profit centre basis. A cost centre approach is a defensive one and the main aim is ensure that cash flows of a firm are not adversely affected beyond a point. A profit centre approach on the other hand is a more aggressive approach where the firm decides to generate a net profit on its exposure over time. Hedging: Based on the limits a firm set for itself to manage exposure, the firms then decides an appropriate hedging strategy. There are various financial instruments available for the firm to choose from: futures, forwards, options and swaps and issue of foreign debt. Hedging strategies and in struments are explored in a section. Stop Loss: The firms risk management decisions are based on forecasts which are but estimates of reasonably unpredictable trends. It is imperative to have stop loss arrangements in order to rescue the firm if the forecasts turn out wrong. For this, there should be certain monitoring systems in place to detect critical levels in the foreign exchange rates for appropriate measure to be taken. Reporting and Review: Risk management policies are typically subjected to review based on periodic reporting. The reports mainly include profit/ loss status on open contracts after marking to market, the actual exchange/ interest rate achieved on each exposure, and profitability vis-Ã  -vis the benchmark and the expected changes in overall exposure due to forecasted exchange/ interest rate movements. The review analyses whether the benchmarks set are valid and effective in controlling the exposures, what the market trends are and finally whether the ove rall strategy is working or needs change. Figure 1: Framework for Risk Management Effect of Currency swings in Indian market Cross-currency volatility is gnawing at the profit margins of almost every tech company. The movement of non-dollar currencies has undone the gains from rupees downward movement against the US dollar. When Indian IT companies were first exposed to the rupee-dollar volatility in 2007 (that time the Indian currency was strengthening against the greenback), they had hedged themselves against the dollar. However, while the rupee movement reversed again, IT companies and their CFOs were caught off guard as other currencies showed unexpected volatility for which they had very little hedges in place. As per the research and news: Indias total trade now accounts for over 40% of its GDP, and this highlights the increasing openness of the Indian economy and its reliance on foreign trade. However, as companies revenues increasingly come from cross-border trad e, they also become more vulnerable to fluctuations and swings in currency rates. There are many such examples amongst the Indian business. A midsize iron ore manufacturer and exporter suffered losses to the tune of $9.5 million due to adverse currency movements and losses of derivative transactions, which caused its profitability to slump to 4.5% as compared with 15% in the previous year. In another example, a mid-size auto component manufacturer suffered exchange losses of $1.2 million in the fiscal year ended March 31, 2009. This was because the company did not have a foreign exchange (forex) strategy in place to proactively counter this risk. It has now started hedging on selective basis by way of plain vanilla forwards as a corrective step. Looking at the cases like these, companies are now stepping up their cross-currency hedges. Example of TCS As per the annual report of TCS in the year 2007-2008, we get the following details, which reflect the derivative instr uments used by TCS to hedge the forex risk. Derivative financial instruments The Company, in accordance with its risk management policies and procedures, enters into foreign currency forward contracts and currency option contracts to manage its exposure in foreign exchange rates. The counter party is generally a bank. These contracts are for a period between one day and eight years. The Company has following outstanding derivative instruments as on March 31, 2008: The following are outstanding Foreign Exchange Forward contracts, which have been designated as Cash Flow Hedges, as on: Â Â March 31,2008 Â Â Â March 31,2007 Â Foreign Currency No. of Contracts Notional amount of forward contracts (million) Fair Value (Rs. In crores) Â No. of Contract Notional amount of forward contracts (million) Fair Value (Rs. In crores) Â Gain/(Loss) Â Gain/(Loss) U.S.Dollar 14 290 25.21 Â Sterling Pound 3 15 3.91 Â 5 21 0.32 Euro 3 19 11.78 Â Â Â 0.35 The following are outstanding Currency Option contracts, which have been designated as Cash Flow Hedges, as on: Â Â March 31,2008 Â Â Â March 31,2007 Â Foreign Currency No. of Contracts Notional amount of forward contracts (million) Fair Value (Rs. In crores) Â No. of Contract Notional amount of forward contracts (million) Fair Value (Rs. In crores) Â Gain/(Loss) Â Gain/(Loss) U.S.Dollar 67 3871.50 (88.70) Â 27 830.00 32.71 Sterling Pound 7 55.65 (2.23) Â 5 47.50 (1.93) Euro 12 99.25 (38.75) Â 11 76.50 (0.60) Net loss on derivative instruments of Rs.21.83 crores recognized in Hedging Reserve as of March 31, 2008, is expected to be reclassified to the profit and loss account by March 31, 2009 The movement in Hedging Reserve during year ended March 2008, for derivatives designated as Cash Flow Hedges is as follows: Particulars Year ended March 31, 2008 Year ended March 31, 2007 Â (Rs. In crores) (Rs. In crores) Balance at the beginning of the year 73.71 4.42 Gains / (losses) transferred to income statement on occurrence of forecasted hedge transaction 64.91 4.42 Changes in the fair value of effective portion of outstanding cash flow derivatives 174.78 29.64 Net derivative gain/(losses) related to a discontinued cash flow hedge 150.83 44.07 Balance at the end of the year 15.15 73.71 In addition to the above cash flow hedges, the Company has outstanding foreign exchange forward contracts and currency option contracts aggregating Rs. 2167.95 crores (previous year : Rs.2062.61 crores), whose fair value showed a loss of Rs.4.46 crores as on March 31, 2008 (previous year : gain of Rs 6.76 crores), to hedge the future cash flows. Although these contracts are effective as hedges from an economic perspective, they do not qualify for hedge accounting and accordingly these are accounted as derivatives instruments at fair value with changes in fair value recorded in the profit and loss account. Exchange gain of Rs.283.96 crores (previous year gain of Rs.45.13 crores) on foreign exchange forward contracts and currency option contracts have been recognized in the year ended March 31, 2008.

Saturday, May 16, 2020

Most Abundant Element in the Universe, Earth, and Body

The most abundant element in the universe is hydrogen, which makes up about three-quarters of all matter! Helium makes up most of the remaining 25%. Oxygen is the third-most abundant element in the universe. All of the other elements are relatively rare. The chemical composition of Earth is quite a bit different from that of the universe. The most abundant element in the Earths crust is oxygen, making up 46.6% of Earths mass. Silicon is the second most abundant element (27.7%), followed by aluminum (8.1%), iron (5.0%), calcium (3.6%), sodium (2.8%), potassium (2.6%). and magnesium (2.1%). These eight elements account for approximately 98.5% of the total mass of the Earths crust. Of course, the Earths crust is only the outer portion of the Earth. Future research will tell us about the composition of the mantle and core. The most abundant element in the human body is oxygen, making up about 65% of the weight of each person. Carbon is the second-most abundant element, making up 18% of the body. Although you have more hydrogen atoms than any other type of element, the mass of a hydrogen atom is so much less than that of the other elements that its abundance comes in third at 10% by mass. Source​ Element Distribution in the Earths Crust

Wednesday, May 6, 2020

Mechanical Engineering Electrical Engineering - 1277 Words

Electrical Engineering Electrical Engineering is â€Å" The branch of engineering concerned with the generation, transmission, distribution, and use of electricity. Its two main branches are power engineering and electronics (including telecommunications). Electrical engineering emerged in the late 19th century with the mathematical formulation of the basic laws of electricity by James Clark Maxwell, followed by the development of such practical applications as the Bell telephone, Edison’s incandescent lamp, and the first central generating plants. Electrical power engineers design generators, power stations, and electricity supply systems as well as electric motors and transport and traction systems. Electrical engineering is an applied science involving mathematical skills and a knowledge of physics, in addition to the basic engineering subjects† (The Macmillan Encyclopedia). 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Tuesday, May 5, 2020

Debt Sustainability and Fiscal Councils

Questions: 1. Examine the factors that determine the dynamics of the debt-toGDP ratio.2. Define the deficit bias and provide three reasons for its existence. Answers: 1. The factors that determine the dynamics of the debt-toGDP ratio : Debt to GDP ratio is defined as the ratio of the countries national debt to its Gross Domestic Product (GDP). Debt is what a country owes and GDP is the total production of the country. By comparing both the ratio indicates the countrys ability to pay back its debt. Often expressed as a percentage, the ratio can be interpreted as the number of years needed to pay back debt if GDP is dedicated entirely on debt repayment. There has been no ideal level of debt-to-GDP ratio determined for a country, whereas there has been a focus on the certain debt levels. A country is referred to be stable if its debt payments are done without refinancing or harming the economic growth. A high Debt-to-GDP ratio may make more difficulty in paying its debts. If a county fails to pay its debt, it would default and would also create a panic in the national and international market. The higher the debt-to-GDP ratio, the higher the risk of fulfilling the payment and thus the higher default risk. (Julio, 2010 ) The factors which contribute to the determining of the dynamics of the government Debt-to-GDP ratio are Primary budget balance as a percentage of the countrys GDP, GDP growth and the difference between the real interest rate. The debt path is determined by the overall fiscal balances; interest bills and primary balances. Debt in terms of equations can be explained as : Bt = (1+r) Bt-1 + Gt - Tt [E1] This equation explains the debt which is, debt at the end of the year t is equal to (1+r) times debt at the end of the year t-1, plus the Primary deficit which is the difference between total deficits and interest payments. The factors that determine the dynamics are primary deficits (or surpluses) and the real rate of interests. The change in any would change the percentage of debt to GDP. Thus there can be two cases realized: 1. The normal case: when the growth rate of GDP is smaller than the real interest rates. Here, E1 is a straight line with slope greater than 1. If the initial debt is positive then the government needs primary surplus to stabilize the debt ratio. The real rate of interest is the rate at which the government accumulates debt because of the debt inherited from the past in terms of interest. If new debt is recalled to pay such interests rather than by primary surpluses, the debt to GDP ratio will continue to grow at a rate equal to rate of interest. Real GDP, however, grows at a rate g- less than r- therefore the debt ratio increases over time. This happens even when the government maintains a primary budget balance or runs primary deficits. 2. The exotic case: when the growth rate exceeds the real interest. E1 is then described by a straight line with lower slope than 1 (1+ r g 1). The debt to equity ratio with time converges to steady rate value indicated as b-. The debt ratio converges to zero as the primary budget is balanced and the debt ratio exceeds. The dynamics of debt to GDP ratio can be explained through these two graphical diagrams: 1. If g r, and if country has past deficits or runs primary deficits (Gt - Tt 0), then the debt ratio increases going further away from equilibrium. 2. If g r and the government runs primary surpluses (Gt - Tt 0), then the debt ratio always converges to its equilibrium level. Causes of Debt accumulation: There has been a increase in debt of the government of many countries past few decades. The major causes of debt accumulation can be seen as the governments cut in taxation. But debt also has its determinants from the GDP growth rate and the inflation levels of the country. Countries reach debt tolerance limits as sharp increase in price levels and interest rates devalue the growth and in turn the money supply in the market. As for inflation levels, an obvious connection comes from the fact that high inflation can reduce the real cost of servicing the debt. Also, understanding how the debt builds up is also important. Natural disasters, wars and peace time also help in the debt accumulation for the path to recovery to happen. For developed economies the relation of inflation and growth does not much matter to the debt amount while for emerging economies they have a direct relation and affects the debt accumulation. Also emerging economies depend upon developed economies for borrowing s which ads up to the debt amount. The aftermath of the financial crisis of 2007-2009 also showed that debt accumulation in the countries was majorly because of the dependant on short term borrowings to fund the past growing debts.(Reihart, 2010) Danger of very high public debt and the options open to a government to stabilize a high and growing debt ratio. It is experienced that higher the public debt, higher the primary surplus to keep the debt levels from growing any further. But with the primary surpluses comes the taxes which if increased can create havoc in the economy. The degree to which high public debt can be danger to the economy can be explained with the help of the E1, the debt-GDP ratio: Lets say, a country having a high debt ratio of 100%. Suppose real rate of interest is 3% and GDP growth rate is 2%. Then first term on the right hand side is (3%-2%) X 100% = 1% of GDP. Now this can fluctuate as per the situation of the country. For example, Government generates a primary surplus of 1% then the right hand side will be equal to 1% + (-1%) = 0 , or because of any scandal or disinvestment in the country the central banker raises the interest rates from 3% to 7% then again the right side changes. To maintain this primary surpluses needs to be raised and to increase them will increase the tax rate. Alternatively the government may not be able to increase the primary surpluses then again the debt will rise and financial markets may fall which will bring in negative sentiments to the investors and further no investments would be attracted. The end lesson to this will be that the countries facing high debt should reduce it as soon as they can. 2) Policy: the rapid increase in government debt in most OECD economies in the 1990s lead economists to argue that fiscal policy was subject to a deficit bias and that discretionary policy had to be abandoned in favour of fiscal rules. However, the recent explosion in government debt suggests that the rules approach was not sufficient for stable public finances and the need to search for new ways of ensuring fiscal discipline. An idea that has received widespread attention is the establishment of independent fiscal institutions. What is Deficit bias? The Organization for Economic Cooperation and Development Nations was founded in 1961 for the development of world trade and push towards the economic growth of the member nations. It is a forum of countries coming together for democracy and market economy and sharing policies, problems and coordinating for a better world economy. Since the 1990s there has been a rapid increase in government debts in most of its members and to overcome the same fiscal policies were subjected to the deficit bias and all the rules were made in favor of the same. Fiscal policy is a government tool for planning its expenditure on taxes and revenues through borrowings. The deficit bias comes in this planning stage itself. It can be defined as a situation when the structure of a governments budget is such that its promised disbursements exceed the structures of its receipts. The reasons for deficit bias can be explained as below: Insufficient collection of taxes- this is a very common problem for many countries. Due to the dynamic income distribution and generation of income in the economy, the tax slabs vary and collection is also distributed. The collection of taxes is also dynamic making only few people of the population to pay the taxes. Also countries have very high marginal rates of taxes. People either work less and pay more or they work where tax evasions are possible. Obligations towards the welfare and upliftment of the society and equality in distribution of the wealth. The people expect social and security benefits from the government which in return are expensive and obliging them requires a huge sum of money to be invested which can be either through government reserves or majorly through borrowings thus creating deficits further. Discuss how fiscal councils can contribute to fiscal discipline by reducing the problem of deficit bias. Fiscal policy is a mainstream tool used by the government officials for the planning and estimating the expenditure and revenues of the government. These policies are used by all the countries to stabilise the government action and forecasting future requirements. Fiscal councils can be said to be independent bodies set up by a government to evaluate fiscal policy (Wren-Lewis, 2011). Fiscal discipline can be defined as the governments capacity to keep the smooth flow of financial operations and long term fiscal development. After the financial crisis of 2008 many countries formed its fiscal councils one such being the Swedish forum for crisis preparedness. There has been a rapid increase in the deficit bias in countries and major reasons cited were as these countries did not follow the fiscal discipline and after a while there were no contingencies in the improve the situations. These fiscal problems have led to the establishment of fiscal institutions. These have also been approved by world development institutions like the IMF, World Bank, OECD etc. The recent interest in these establishments was widely supported by academic proposals. The common objective of these councils is to adapt the systemised working of the central banking to the fiscal sphere. The working of these fiscal councils are to be determined as whether they should do forecasting or evaluating the governments forecasts or they should give normative recommendations. Since a long time fiscal rules have been violated by the governments and thus the councils have come up with fiscal disciplines. There are several ways in which the fiscal councils can deal with the deficit bias by contributing to fiscal disciplines, few are: Informational problems- there have been many instances when there has been wrong inflow of information among the people in the country resulting into a fall in the severe indicators of economic growth. For example, over optimism among the people either by any leader or any people can create deficit bias because revenues can be below expectations over expectations may lead to regrets in future. To make such information flows correct and clear, councils need to step in and play a better role for the profitability of such information. Impatience- this can also create deficit bias among the people. An example would be when a government is discounting at a higher rate than the electorate it is giving a deficit bias as this would lead to the loss of individual politicians in elections. Here the election commission may not be able to cater to the flaw effectively as the magnitude of the election may be very large, thus fiscal councils could provide an alternative political pressure and manage the situation. Common-pool theory- a governments duty is to provide welfare to the people and thus they come up with ideas to benefit them. But sometimes there stays a flaw in this process. Ministers may formulate overflowing budgets and thus fail to provide optimum results out of it. This theory provides a relationship between the departments of government and the deficit bias created. Here the recommendations of the fiscal councils may empower the financial ministers and help in the optimum utilisation of the money of the people. Time inconsistency and inflation bias- the deficit bias is also related to the inflation bias. The fiscal policies are used to stabilise the economy by raising the output and inflation in the short run. Sometimes this leads to deficit bias with the inflation bias. The changes in the institutions that reduce the inflation bias through the monetary policy might encourage the inflation through fiscal policies with an associated deficit bias. Thus the fiscal councils can act as a guard for changes in such rules and advise on the long term benefits of the economy. Exploiting future generations- there has been experiences when the government has failed to succeed in the security and development of the future generations of the country. The exploitation of the next generations can be directly by cutting taxes immediately and be paid by the future generation later or indirectly by adding government debts and capital. Here the fiscal councils may be represented by the future generations themselves. But again, these young councils should also have the fiscal powers and decision making strengths.(Wren-Lewis, 2011) Discuss why there exists the potential for the UK government to exert some indirect influence on the OBRs forecasts and to undermine its independence. Office for budget responsibility is a fiscal forum established for the fiscal cooperation and management of the UK government. As discussed it is difficult for a government to establish a fiscal council as it would provide hindrances in its activities. Thus it has been noted that governments exert influences on the councils in there country. The UK government too tries to influence the forecasts of OBRs. This is because of the issue that independence simply moves time inconsistency problem to another level. The councils advises may bring in hindrances and problems in the government activities. Sometimes fiscal councils are created by opposition parties for the critique to the government. Conflicts between the government and the fiscal councils are not inevitable. The fiscal council has the power to validate optimal departure from simple rules. Thus the UK government has been creating unduly interferences in its fiscal council. (McCullum, 1994) Independence of the fiscal councils have always been undermined. Though there is a consensus of academic professionals on the need for the independence of these councils. This independence can be achieved through the following ways- Budgetary independence. Recruitment process to be completely professional and no political preferences accepted. Restriction on the electorals freedom to fire then members of the councils. Reduction in the periods of undertaking the charge in the office. Strict prohibitions on the interference of the government advise on the functioning of the body. Bibliography calmfors. (2003). Fiscal policy to stabilize the domestic economy in EMU. In calmfors, Fiscal policy to stabilize the domestic economy in EMU (p. 49). CESifo Economic Studies. Julio, E. (2010). A Practical Guide to Public Debt Dynamics. Retrieved january 24, 2015, from https://www.esaag.co.za/images/publications-notes/other/imf-guide-to-public-debt- McCullum. (1994). Two fallacies concerning central banks independence. American Economic review. Reihart, M. (2010). Growth in the time of debt. In M. Reihart. American Economic Review. Wren-Lewis, L. C. (2011). What should fiscal councils do. In L. C. Wren-Lewis, What should fiscal councils do (pp. 649-695).

Sunday, April 19, 2020

My Love-Hate Relationship with New York Essay Example

My Love-Hate Relationship with New York Essay New York City is a fascinating place with too much charm for its own good. It is evident in both E. B. Whites Here is New York and Goodbye to All That, by Joan Doing that it is easy to fall in love with New York. However, it isnt too hard to fall out of love with this city, either. White mentions three types of New Yorkers: natives, commuters and non-natives, and how they contribute to the quality of this city. Doing tells us the story of her arrival to New York from the West, and discusses her rough first- Impression, that led to a decision to stay for 8 years. Both authors create an Image of New York that shows a city of wonder and curiosity, which leads me to believe that a relationship with New York City can (and will) be complicated because there are aspects that we may grow to love, and others that we might end up despising. In the opening passage from E. B. Whites Here Is New York, he describes the three types of New Yorkers as the natives who take their city for granted; the commuters who live the fast-paced, sheep-like lifestyle; and the non-native New Yorkers who come, reaching for something new. We will write a custom essay sample on My Love-Hate Relationship with New York specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on My Love-Hate Relationship with New York specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on My Love-Hate Relationship with New York specifically for you FOR ONLY $16.38 $13.9/page Hire Writer According to white, It Is the third type of New York that completes the city, as a whole. He says, They account for New Works high disposition, poetical deportment, and dedication to the arts, and its comparable achievements. Although this makes it a beautiful place, it is also the citys demise. He goes on to say that New York is a target for destruction, due to its clear priority. It is vulnerable, because there is so much variety; so much to offer! Its as though all of its buildings, ridges and other well-known landmarks have suddenly become ten times more noticeable! Nevertheless, each New Yorker embraces their city with the intense excitement of first-love, and a fresh, new adventure. Regardless of what may come of it, New York must hold a steady, irresistible charm, meaning it has a particular standard to own up to due to its high level of popularity. Although E. B. White doesnt mention one, I do believe there is a fourth type of New Yorker. They are the ones that grew up here and fell in love with its beauty, but had their heart broken by the new epistyle. The one who aspires to move on from New York, and experience life in the suburbs, away from the chaos, the monotony and the locusts! I am definitely the fourth type of New-Yorker. In an excerpt from Joan Dingos Goodbye to All That, she sets the mood for the text by stating it is easy to see the beginnings of things, and harder to see the ends. It is clear that she once had a better opinion of New York, until she had seen it for herself. While Doing may sound pessimistic, I realized that she was actually being optimistic. It Is easy to assume something Is going to be bad, based on a negative first Impression, but you never know how good It can turn out to be, after all. Dillon was twenty-years-old In the summer she arrived In New York. The warm air smelled of mildew and some Instinct programmed by all the movies, songs and stones I knew of New York Informed me that It would never be the same again, she explained. She described looking out of the bus window on her first night Into town, as she watched for the skyline, but could only see the wastes of Queens, big signs that said MIDTOWN TUNNEL THIS LANE, and a flood of exotic summer rain. During her long-distance calls with the boy she knew she would never marry, she had mentioned she would only stay for 6 months; she ended up staying was something so curious about a different kind of city, that she was eager to discover. Clearly, New Works charm can persuade anyone to stay, even through a difficult transition from one lifestyle to another. I consider myself to be the New Yorker that loves the city, but has grown out of it. Growing up, I always said that I could never leave New York. I loved the city, the big bridges lit up at night, looking out over the East River in Dumb, Brooklyn, having access to any city via public transit, the variety of cultures and cuisines, and ultimately living in a city that never sleeps! Although I still love these things about New York, I would much rather spend some time on a farm in Ohio! As an aspiring Wildlife Rehabilitate, I would love to raise ducks, goats, and dogs on farmland. It isnt legal to own certain species of animals, in he city of New York, so a lot of my goals have been put on hold. Dont get me wrong, I dont dislike living in New York, its Just that this city no longer has much to offer me. For some, the idea of having a chaotic subway station, filled with loud, pushy people, might be frightening. On the other hand, some would appreciate being able to travel anywhere in the city for two-dollars and fifty cents! As New Yorkers, we are very privileged! I pray that I will learn to love New York, all over again.. Relationship with New York City can be complicated because there are aspects that e may grow to love, and others that we end up disliking. While E. B. White, Joan Doing and I all agree that New York is a city of possibility as well as having a rough (or unexpected) first impression, New York ended up being a blessing after all. I cant say I see myself staying for the rest of my life, but I can say I will always have love for New York, deep down. So many amazing opportunities and experiences have been placed before me, and as a Native New Yorker, I am very privileged! I live in a bittersweet city; one that is always so beautiful, but often so cruel.

Saturday, March 14, 2020

Summary of Dell Computer

Summary of Dell Computer Free Online Research Papers Dell Computer is a leader in the e-commerce computer hardware market. It is an established brand that leads personal computer manufacturers in U.S. sales and overall online sales. Its trademark method of selling products to customers, corporate and individual consumers, emanates from the Dell Direct model, a Web-enabled infrastructure that allows customers to customize their PCs and order other products they need or desire. This virtual integration structure eliminates the need to manufacture everything, and instead uses the power of the Internet to share and exchange information with suppliers and vendors to build a truly superior supply chain that keeps inventory turnover low and costs to a minimum (Harrington, 2002). Constantly changing technology directly impacts Dell’s success. The primary method Dell uses in order to achieve and sustain their competitive advantage is a unique, direct to customer business model (Dell, 2007). The Internet is Dell’s key success factor which results in lower costs to customers than other retailers because customers tell Dell exactly what they want and Dell creates products for the consumer without experiencing wasteful resources in production (Breen, 2004). Dell’s supply chain works as follows. After a customer places an order, either by phone or through the Internet, Dell processes the order, which takes two to three days, after which it sends the order to one of its manufacturing plants in Austin, Texas. These plants can build, test, and package the product in about eight hours (Kapuscinski et al, 2004). The general rule for production is first in, first out, and Dell typically plans to ship all orders no later than five days after receipt. Since many of Dell’s suppliers are located in Southeast Asia, Dell has significantly less time to respond to customers than it takes to transport components from its suppliers to its assembly plants. To compensate for this, Dell requires its suppliers to keep inventory on hand in the Austin plant, referred to as revolvers (for â€Å"revolving† inventory). Revolvers or Supplier logistics Centers (SLCs) are small warehouses located within a few miles of Dell’s assembly plants. Each revolver is shared by several suppliers (Breen, 2004). The inventory in Dell’s revolvers is not owned by Dell. It is owned by suppliers and charged to Dell indirectly through component pricing (Kapuscinski et al, 2004). However, the cost of maintaining inventory in the supply chain is included in the final prices of the computers. Therefore, any reduction in inventory benefits Dell’s customers directly by reducing product prices. Low inventories also lead to higher product quality, because Dell detects any quality problems more quickly than it would with high inventories (Pizinger, 2004). Dell wishes to stay ahead of competitors who adopt a direct-sales approach, and it must be able to reduce supplier inventory to gain significant leverage. Although arguably supply-chain costs include all costs incurred from raw parts to final assembly, Dell concentrates on Dell-specific inventory (that is, parts designed to Dell’s specifications or stored in Dell specific locations, such as its revolvers and assembly plants). Because assembly plants hold inventories for only a few hours, Dell’s primary target, in this project, was the inventory in revolvers (Kapuscinski et al, 2004). Dell holds inventory only for the six to eight hours it travels across the assembly line and for the 18 hours it takes for the completed CPU to be trucked to a merge center in Reno, Nevada, where the unit is bundled with a monitor and shipped to the customer (Harrington, 2002). Dell also works the other end of the supply chain the customer to eliminate the evil of inventory. Essentially, its replacing inventory with information. The company keeps a massive database that tracks the purchasing patterns and budget cycles of its corporate customers, and predicts upgrade purchases by individual repeat consumers, which enables it to forecast demand with about 75% accuracy (Kapuscinski et al, 2004). Three times a day, Dell updates its demand forecast for key suppliers on its extranet portal. When Dell misses a forecast which it does from 5% to 25% of the time and finds itself running out of, say, 15-inch flat screens, it runs a one-week special for 17-inch screens. Its direct-to-the-customer model allows it to shift demand to match what its suppliers can deliver. Supply-chain experts call this demand shaping, and Dell has mastered this competitive weapon, too. But while such tactics have helped Dell to almost eliminate inventory from its balance sheet, its sup pliers cannot claim to have done the same (Solis, 2001). Dell’s supply chain management success can be summed up in one idea. â€Å"Supply chain management shortens the cycle between the component, the manufacturer and the end customer. We are allowing them to almost touch each other, (E-commerce)† according to Michael Chong, e-business Technology Manager of Dell Computer Corporation. Supply chain management is the effective and efficient movement of materials from suppliers, through a company and into products, which eventually is received by consumers (Dell, 2007). References Breen, Bill. (2004). Living in Dell Time. Fast Company. Retrieved November 3, 2007 from fastcompany.com/magazine/88/dell.html. Dell.com. (2007) Supplier Principles: Supply Chain Management System. Retrieved November 4, 2007 from dell.com/content/topics/global.aspx/corp/sup_prince/en/supply?c=usl=ens=corp Harrington, L. (2002). Industry Week. Retrieved November 3, 2007. The Accelerated Value Chain: Supply chain management just got smarter, faster and more cost-effective, thanks to a groundbreaking alliance between Intel and i2 technologies. Kapuscinski, R., Zhang, R., Carbonneau,P., Moore, R., Reeves, B. (2004) INFORMS – Interfaces Inventory Decisions in Dell’s Supply Chain – Vol. 34 No.3 May-June 2004. Retrieved November 5, 2007 from tmi.umich.edu/dell.pdf. Pizinger, Michael (2004). Retrieved November 3, 2007, Extending DELL’s Direct Model to Product Development via Supplier Collaboration Tools, The Management Roundtable. Solis, Adriano O. (2001). SOME SUCCESS STORIES IN SUPPLY CHAIN MANAGEMENT. Retrieved November 3, 2007 from http://utminers.utep.edu/solis/NAPM%20- %20El%20Paso/Criterion%20Articles/Academic%20Advisor%27s%20Corner%20may% 202001.doc Research Papers on Summary of Dell ComputerBionic Assembly System: A New Concept of SelfOpen Architechture a white paperMarketing of Lifeboy Soap A Unilever ProductIncorporating Risk and Uncertainty Factor in CapitalAnalysis of Ebay Expanding into AsiaThe Project Managment Office SystemDefinition of Export QuotasGenetic EngineeringNever Been Kicked Out of a Place This NiceTwilight of the UAW

Thursday, February 27, 2020

Apple versus PC Essay Example | Topics and Well Written Essays - 750 words

Apple versus PC - Essay Example With such distinctions being many questions have arisen in regards to which machine is truly superior. Through a consideration of a variety of components of each machine, this essay demonstrates why the Mac truly has higher quality than the PC. When consider computer technology one of the primary considerations that individuals make is in regards to cost. Oftentimes the Mac is derided in relation to the PC because of the significant cost differential between the two machines, with the Apple Macintosh generally costing a few hundred dollars more than the traditional PC. While these are valid complaints, ultimately they prove erroneous when one notes that the Macintoshes’ hardware warrants the cost differential. A recent study was conducted that compared the top of the line Dell Computer to the Apple Macbook Pro in terms of cost and efficiency. The study indicated that, Dell's Inspiron line doesn't currently offer processing power equaling that of the MacBook Pro. To get a 2.33- GHz Core 2 Duo processor (a 2.4-GHz version isn't available yet), you have to move up to Dell's more expensive XPS M1710 with Vista Home Premium. Once I did that, though, and tricked out the M1710 with only those extras it had to have to compete with the MacBook Pro, I was surprised to see the Dell come in at a whopping $3,459, some $650 more than the Apple product (Finnie). In these regards, the study indicates that when adding the same hardware technology to the PC that the Mac already has included, the Mac demonstrates significantly more value. This demonstrates that while ostensibly the PC is cheaper, in reality the Mac comes with significantly more value and quality. Another major consideration that one makes when considering the effectiveness of computer technology is the computer’s overall efficiency. Many PC users remain unfamiliar with the intricacies of computer technology and contend that the PC actually is a more efficient machine than the Mac. Still, when examini ng this question more thoroughly one discovers that in reality the Mac is a significantly more quality machine. Consider the parts that are used within the Mac as compared to the PC. A general qualitative investigation demonstrates that the Mac has a sleeker design that doesn’t bend and creek like PC plastic compartments. Another prominent element in terms of efficiency is the operating system. The PC only allows users the option of implementing Windows, while the Mac is equipped to run both Windows and OS X. This difference allows Mac users to tailor the operating system for the specific task, greatly improving computer quality and efficiency. It’s clear then that the Mac is better than the PC in terms of overall efficiency. A final consideration that is made regarding Mac and PC’s is within the realm of general useability. Oftentimes PC users claim that the Macintosh is an inferior product because it is purposely made more difficult to use as a means of differ entiating itself. In reality, this is an erroneous assumption and that Macintosh is an overall more useable machine. Consider a number of specific different between the computers. One of the major differences between the machines is the fast and effective boot time in the Apple. While having to wait an extra-minute or for a computer to load may seem like an insignificant problem, when this element is

Tuesday, February 11, 2020

A porters 5 forces analysis of Microsoft Corporation Essay

A porters 5 forces analysis of Microsoft Corporation - Essay Example The following figure represents computer OS market share. Threat of new entrants is extremely high in the computer software industry. Faster product developments and technological innovations allow a new entrant to easily capture the market. The current industry trends indicate that people are highly attracted towards new software developments as they always try to replace the existing technology with more improved ones. It is obvious that a number of new market players have entered the software industry over the last two decades. However, higher entry costs reduce the threat of new market entrants to some extent. Nowadays, majority of the governments invests heavily in research and developments. Therefore, new entrants are overcoming the fund deficiency issue. Availability of substitutes raises potential threats to the Microsoft Corporation. Studies show that software design ideas are widely copied and most of the people and business are interested to use pirated software versions. According to Claburn (2011), it is expected that millions of people are using pirated Microsoft operating systems. Majority of the duplicated software provide full features to their users exactly as the original software do. Since such pirated or duplicated software are easily available at cheaper costs, many of the users are not interested to buy an original Microsoft version. Even though governments give great emphasis on the enforcement of intellectual property laws, software piracy and duplication cannot be prevented completely. While evaluating the marketing activities of Microsoft Corporation, it is clear that the firm exercises great control over its buyers (Levy, 2005). It is a known fact that Microsoft products are of supreme quality and thereby have a well market reputation. Furthermore, they are branded products. Hence, buyers

Friday, January 31, 2020

The effects of video games on children Essay Example for Free

The effects of video games on children Essay Nowadays, game is so popular that everybody can see its appearances everywhere easily. There are a lot of type of game have been invented such as cosule game, Actually, video games have become a part of childrens life for the past few decades, because they are so convenient that children can play them whenever and wherever to spend time. There are a lot of opinions about effects of video game on our future generation. In some study, video games can be considered the second nature of the modern children, and that virtual world partly reflects the real world. Through that, children can come up and learn more knowledge about the real word. However, video games can also cause a lot of negative effects on children if they are addicted to those. Therefore, most people agree that playing too many video games does more harm than good. The bad effect of game Drifting back to the history of video game, it all started when Atari came up with its first gaming console that included a very simple game of tennis. At that time, the controller had just one stick and one button to play with. Now, we are having huge collection of gaming system with many different types of consoles available in the market with very complex games that requires controllers with two or more sticks and a variety of buttons. Every year, all gaming company makes a race for introducing a new edition or updating better quality for their production. Most people suppose that playing video game causes a lot of negative effects. Video games – a cause of violence and aggression are one of those and mainly mentioned. Video games are very variety of kinds, but it seems that the violent games are dominant because they attract more children than others. Furthermore, in some surveys, there are many violent games that allow the children to play arm bearing characters who can kill anyone that they want, steal cars, and commit many different kinds of crime, such as Mortal Combat, Marvel vs. Capcom, and Doom. They all are very interactive in the violence of slaughtering the opponent (1). In reality, although the video game producers put signs like Real-life violence and Violence level not recommended for children under age of 12 on their box covers, sometimes parents seem to ignore those warnings and let their children play the games that they like (2). Moreover, in some modern violent games, the producers want to attract more children by performing the actions of characters as elaborate maneuver when they get killed. For example, in Half-Life, when a character is killed by others, a bloody and gory scene displays in detail on the screen. What will happen if children play those day by day? How will those affect the naive minds of children? As everyone knows, the answer is that children will become violent and aggressive. Indeed, many studies seem to indicate that violent video games may be related to aggressive behavior. The children who often play more violent games will tend to be at odds with somebody and like fighting and killing. They tend to act in their real life as if they saw and experienced in games. In another aspect, playing too many video games is also the cause which makes children addicted. In a recent study of children in their early teens, the researchers found that almost a third played video games daily, and that 7% played for at least 30 hours a week (3). According to these statistical figures, it is really reasonable to conclude that children today are addicted to video games, and the number of those will increase more in the future. Addicting to video games can make children socially isolated. With the development of science and technology at present, it is so convenient that children can play video games everywhere from large devices, such as computers, laptops, and play stations, to small portable devices, such as DS, and Xbox†¦ With those, children can spend hours in playing without resting. Meanwhile, they may spend less time or even ignore in other activities such as doing homework, reading books, sports, and interacting with the family and friends. As a result, children will become lazy and passive, and they find it hard to integrate into the real life. Finally, video games may also have bad effects on children’s health, especially obesity and eyesight problems. When children are addicted to video games, they tend give them foremost priority. This takes the children away from their other physical activities and can have many health-related problems for the children, as they can get obese if they dont exercise and stay home playing video games. Many studies have also showed that spending hours more time playing videogames in front of television screens than playing real and actual sports that involve physical exercise can cause children to experience many of the same symptoms seen in computer vision syndrome in adults. Moreover, extensive viewing of the game screen can lead to eye discomfort, fatigue, blurry vision and headaches (4). As a result, the number of children who have eyesight problems, such as near-sighted, far-sighted, and astigmatism†¦ is increasing. This is perhaps the worst negative effect that videogames can have on children. On the contrary, as many people confirm, one of the most positive effects of video games is increasing the dexterity and agility of a child and improving their hand-eye coordination (5). The new modern video games that are coming out are extremely complex, and they involve the movement of many different kinds of sticks and buttons on the controllers. These can be very good for children as they learn to make fast connections between what they see and what their hands and fingers are doing. These also allow them to think quickly and improve their reflexes. For example, in shooting games, in some cases, the character may be running and shooting at the same time. This requires the children to keep track of the position of the character, where he or she is heading, the speed, where the gun is aiming, and so on. This process requires a great deal of hand-eye coordination and visual-spatial ability to be successful. Therefore, we find that playing video games can have many different effects, both positive as well as negative on children. Even though the children can have benefits by increasing their dexterity and improving their reflexes, the costs of them, like losing their physical exercise, social activities, and homework, declining health, as well as becoming violent, are too much. Overall, it is important that the parents consider this problem seriously and enforce certain rules and regulations that can limit and control the time of playing video games for their children. Parents also should encourage their children to take part in other physical exercise, sports, as well as social activities that can take children away from video games. References: (1), (2), and (3) according to Video Games: A Cause of Violence and Aggression Grace Shin Submitted by Serendip Update on Fri, 01/04/2008 http://serendip. brynmawr.edu/exchange/node/1723 (4) according to Playing Video Games May Cause Eyestrain. Encourage Safe Game Play Guidelines for Your Child By Troy Bedinghaus, O. D. , About. com Guide Updated February 19, 2008 http://webcache. googleusercontent. com/search? q=cache:INT8Liv76l4J:vision. about. com/od/childrensvision/qt/Video_Games. htm+video+games+affect+eyesightcd=1hl=enct=clnkgl=ussource=www. google. com (5) according to Positive Effects of Video Gaming By R. L. Cultrona, eHow Contributor http://www. ehow. com/about_5370127_positive-effects-video-gaming. html.

Wednesday, January 22, 2020

Employability Skills:An Update :: Employer Work Job Essays

Employability Skills: An Update This project has been funded at least in part with Federal funds from the U.S. Department of Education under Contract No. ED-99-CO-0013. The content of this publication does not necessarily reflect the views or policies of the U.S. Department of Education nor does mention of trade names, commercial products, or organizations imply endorsement by the U.S. Government. Digests may be freely reproduced and are available at http://ericacve.org/fulltext.asp. What skills do employers want? How do these skills match those that youth and adults are developing through their school and work experiences? How can education and training programs prepare individuals to enter a rapidly changing workplace? These and other questions are examined in this Digest that explores skills currently needed for employment. Since 1986 the authors of no fewer than six ERIC Digests and one Trends and Issues Alert have sifted through an increasingly prolific literature base to investigate the evolving topic of employability skills. The dual challenges of competing in a world market and rapid technological advancements have necessitated a redesign of the workplace into an innovative work environment known as the high-performance workplace. This environment requires a behavior and orientation toward work that go beyond step-by-step task performance. It expects workers at all levels to solve problems, create ways to improve the methods they use, and engage effectively with their coworkers (Bailey 1997; Packer 1998). Knowledge workers who demonstrate this highly skilled, adaptive blend of technical and human relations ability are recognized by employers as their primary competitive edge. Job-specific technical skills in a given field are no longer sufficient as employers scramble to fill an increasing number of interdependent jobs (Askov and Gordon 1999; Murnane and Levy 1996). Many U.S. and international authors point out the importance of continuously developing skills beyond those required for a specific job, and they identify employability skills that enable individuals to prove their value to an organization as the key to job survival. The volume of major studies undertaken in the past 2 decades to identify and describe employability skills underscores their criticality. (For a listing of some of these authors, organizations, and studies, see the references.) There are many definitions of the phrase employability skills. The following updated definition is representative of a synthesis of definitions as they have evolved over time: Employability skills are transferable core skill groups that represent essential functional and enabling knowledge, skills, and attitudes required by the 21st century workplace.

Tuesday, January 14, 2020

Do You Agree with the View That by 1940?

Do you agree with the view that by 1940 the main obstacle to Indian independence was not British imperialism but divisions within India? Many people believe that in the 1940’s most of India’s problems involving independence was to do with divisions within India rather than British imperialism. In this essay I will be looking at both points of view and finally giving my opinion. I will be using three sources also to help me show both sides of the story. I will also be using my further knowledge to add a wider range of knowledge.Source 15 is a statement made by Viceroy Linlithgow during discussions with Muhammad Ali Jinnah in August 1940, concerning arrangements for the wartime administration of India. In this source he is both for and against the view of the question. â€Å"His Majesty’s Government could not contemplate transfer of their present responsibilities for the peace and welfare of India to any system of Government†. This is suggesting that England can’t even imagine giving any real power to India. Which means England is withholding any peace for India by not giving them any power.England are also holding back any welfare for India by keeping all the power. However, the Viceroy also says afterwards, â€Å"Whose authority is directly denied by large and powerful elements in India’s national life†. This quote is saying that divisions within India are slowing down the progression of gaining power for India. Even England’s power over India is being disrupted by the divisions within India. If a specialist governing country is struggling to stay in control how is an inexperienced country going to handle one of the largest countries in the world?Linlithgow made the August offer in 1940; along with Jinnah they discussed a whole range of issues regarding India and the war. The Viceroy did make an effort to involve the Muslim community with the proposals in the august offer as well. One of the proposals was â€Å"an assurance that the government would not adapt any new constitution without the prior approval of Muslim India†. This shows that the Viceroy tried to prevent divisions within India. Source 16 is a lot more one sided compared to source 15. Source 16 mainly believes that it is British imperialism that is preventing Indian Independence.This source is from W. O. Simpson, from ‘changing horizons’, which was published in 1986. One of the most obvious quotes backing up the hatred towards British Imperialism is, â€Å"The idea, and the Government of India Act that emerged on 1935, was strongly opposed by one faction in the Conservative Party, which formed itself into the Imperial Defence League. † This Defence League tried to prevent the Act being passed but it was unsuccessful in its efforts, and the Act was passed. â€Å"The Act was attacked both in Britain for going too far†.If Britain didn’t go as far as they did with the act they would h ave had a more successful reign. In this source there is a quote that suggests that divisions within India that was stopping Indian Independence. â€Å"in India for not going far enough†. This quote suggests that India didn’t believe the Act wasn’t taken out as much as they would have liked. Round table conferences did prove that congress didn’t speak for all of India, and due to the minority of the Muslims in India the 1937 elections were very nerve racking for the Muslims.If Congress came into power they would have been in a very bad situation. The Muslim League needed to win over all of the Muslims and make sure the trials can become fair. Source 17 is much like source 15 because they a both fairly even sided, in what they say. This source is from Rosemary Rees, India 1900-47, published in 2006. It mentions the faults of both British Imperialism and the Divisions between India. â€Å"If only Congress could, in, fact, speak for all main elements in Ind ia’s national life then, however advanced their demands our problem would have been in many respects, far easier†.This quote is strongly suggesting that the division in India is preventing the independence. The fact that England can’t get a straight answer from India is making England less confident in giving them independence. They had Congress saying they spoke for the whole of India and they had the Muslim League saying that they don’t and because they are the minority in India they should get an equal say in matters so the Congress doesn’t just make lives for the Hindus better and forget about the Muslims. However, Churchill was adamant that he wasn’t going to give India up.He didn’t even think about it. He knew that he wanted to keep it, therefore in his mind he is going to keep it, no matter what. In source 17 he strongly backs this statement up in saying â€Å"We mean to hold our own. I have not become the King’s first m inister in order to preside over liquidation of the British Empire. † This quote just shows how incredibly stubborn Churchill was in his views of handing over India’s independence. It didn’t matter what was happening around him or what was happening in India, India was England’s and he intended it to stay that way.All of these sources mention both points, in different amounts. I personally believe that it was mainly down to British imperialism that prevented India to gain independence. In the 1940’s India found it hard to find independence at all. Though I don’t believe it was all down to England. The fact that India couldn’t give an answer that related to both Muslims and Hindus meant that England lost trust in them. Gandhi was trying to claim that he was speaking for the whole country, whilst Muslims were pleading not to listen to him. It was all very confusing for the English.

Monday, January 6, 2020

Independent Executive Agencies of US Government

Independent executive agencies of the U.S. federal government are those that, while technically part of the executive branch, are self-governed and not directly controlled by the President. Among other duties, these independent agencies and commissions are responsible for the vitally important federal rulemaking process. In general, independent agencies are tasked with administering laws and federal regulations that apply to specific areas such as the environment, social security, homeland security, education, and veteran affairs. Responsibilities and the Chain of Command Expected to be experts in the areas they manage, most independent agencies are headed by a presidentially-appointed board or commission, while a few, such as the EPA, are headed by a single presidentially-appointed administrator or director. Falling within the executive branch of government, independent agencies are overseen by Congress, but operate with more autonomy than federal agencies headed by Cabinet members such as the Departments of State or Treasury which must report directly to the president. While independent agencies do not answer directly to the president, their department heads are appointed by the president, with the approval of the Senate. However, unlike the department heads of executive branch agencies, such as those making up the president’s Cabinet, who can be removed simply because of their political party affiliation, heads of independent executive agencies may be removed only in cases of poor performance or unethical activities. In addition, the organizational structure independent executive agencies allows them to create their own rules and performance standards, deal with conflicts, and discipline employees who violate agency regulations.  Ã‚   Creation of Independent Executive Agencies For the first 73 years of its history, the young American republic operated with only four government agencies: the Departments of War, State, Navy, and Treasury, and the Office of the Attorney General. As more territories gained statehood and the nation’s population grew, the people’s demand for more services and protections from the government grew as well. Facing these new government responsibilities, Congress created the Department of the Interior in 1849, the Department of Justice in 1870, and the Post Office Department (now the U.S. Postal Service) in 1872. The end of the Civil War in 1865 ushered in a tremendous growth of business and industry in America. Seeing a need to ensure fair and ethical competition and control fees, Congress began creating independent economic regulatory agencies or â€Å"commissions.† The first of these, the Interstate Commerce Commission (ICC), was created in 1887 to regulate the railroad (and later the trucking) industries to ensure fair rates and competition and to prevent rate discrimination. Farmers and merchants had complained to lawmakers that railroads were charging them exorbitant fees to carry their goods to market.   Congress eventually abolished the ICC in 1995, dividing its powers and duties among new, more tightly defined commissions. Modern independent regulatory commissions patterned after the ICC include the Federal Trade Commission, the Federal Communications Commission, and the U.S. Securities and Exchange Commission. Independent Executive Agencies Today Today, independent executive regulatory agencies and commissions are responsible for creating the many federal regulations intended to enforce the laws passed by Congress. For example, the Federal Trade Commission creates regulations to implement and enforce a wide variety of consumer protection laws such as the Telemarketing and Consumer Fraud and Abuse Prevention Act, the Truth in Lending Act, and the Childrens Online Privacy Protection Act. Most independent regulatory agencies have the authority to conduct investigations, impose fines or other civil penalties, and otherwise, limit the activities of parties proven to be in violation of federal regulations. For example, the Federal Trade Commission often halts deceptive advertising practices and forces business to issue refunds to consumers. Their general independence from politically motivated interference or influence gives the regulatory agencies the flexibility to respond rapidly to complex cases of abusive activities. What Sets Independent Executive Agencies Apart? Independent agencies differ from the other executive branch departments and agencies mainly in their makeup, function, and the degree to which they are controlled by the president. Unlike most executive branch agencies which are overseen by a single secretary, administrator, or director appointed by the president, independent agencies are usually controlled by a commission or board made up of from five to seven people who share power equally. While the commission or board members are appointed by the president with the approval of the Senate, they typically serve staggered terms, often lasting longer than a four-year presidential term. As a result, the same president will rarely get to appoint all of the commissioners of any given independent agency. In addition, federal statutes limit the president’s authority to remove commissioners to cases of incapacity, neglect of duty, malfeasance, or â€Å"other good cause.† Commissioners of independent agencies cannot be removed based simply on their political party affiliation. In fact, most independent agencies are required by law to have a  bipartisan membership of their commissions or boards, thus preventing the president from filling vacancies exclusively with members of their own political party. In contrast, the president has the power remove the individual secretaries, administrators, or directors of the regular executive agencies at will and without showing cause. Under Article 1, Section 6, Clause 2 of the Constitution, members of Congress cannot serve on the commissions or boards of independent agencies during their terms in office. Agency Examples A few examples of hundreds of independent executive federal agencies not already mentioned include: Central Intelligence Agency (CIA): The CIA provides intelligence regarding potential threats to national security to the president and senior U.S. policymakers.Consumer Product Safety Commission (CPSC): Protects the public from unreasonable risks of injury or death from a vast array of consumer products.Defense Nuclear Facilities Safety Board: Oversees the nuclear weapons complex operated by the U.S. Department of Energy.Federal Communications Commission (FCC): Regulates interstate and international communications by radio, television, wire, satellite and cable.Federal Election Commission (FEC): Administers and enforces the campaign finance laws in the United States.Federal Emergency Management Agency (FEMA): Administers the national flood insurance and disaster relief programs. Works with first responders to prepare for, protect against, respond to, recover from, and mitigate all forms of hazards.Federal Reserve Board of Governors: Functions as the central bank of the United States. The Federal Reserve System (the â€Å"FED†) oversees the nation’s monetary and credit policy and works ensure the safety and stability of the nation’s banking and financial system.