Environmental Analysis Paper Essay

Hospitality is one of those lines of business paths that are widespread. In Australia, Brisbane hotel provides a broad assortment of properties-budget, trade, tourist, lavishness, bed and breakfasts and apartments lodging. Moreover, Holiday City Brisbane hotels offer comfort, excellence and enormous worth for the money, perfect for leisure time and commerce travelers. This paper seeks to examine the environmental analysis of Brisbane hotel in Australia. (Higham, 2005, p. 98) 1. Industry Analysis On the foundation analysis unaccompanied, Brisbane market appears to be a suitable market for an augment in lodging supply. On the other hand there are a number of other considerations such as access to capital, augmented building and labour outlay. (Addis, 2006, p. 103) Brisbane is situated on the eastern coast; it is the capital of Queensland-Australia’s head of state tourist area. It is Australia’ best ever growing city region in South East Queensland and occupies 1,140 square kilometers. (King, 1997, p. 88) For a property shareholder, a significant indicator of hotel viability will be value versus building cost. Hotel values have not kept rate with the enlargement in building costs. See more: how to write an analysis of a research paper Hotel values sky rocketed in 1997 before moribund to a cyclical low of $161K per room in 2001. Building costs on the other hand have augmented each year, moribund only marginally in 2001 in reaction to the worldwide financial downturn. (Garling, 1991, p. 100) The low point of hotel values were 62 per cent of building costs and even as they have augmented by around 10 per cent per annum over the last five years double the rate of building costs, the expansion gap is still 20 per cent at present. This gap will differ across the cities of Australia. (Kohen, 1995, p. 90) The porter’s five forces model is a straightforward tool that supports premeditated understanding where authority lies in an industry situation. It also helps to comprehend both the strength of Brisbane existing cutthroat position, and the potency of a position Brisbane is in search to move into. Regardless of the fact that the five force structure focuses on commerce concerns rather than community policy, it also emphasizes comprehensive rivalry for value to a certain extent than just competition amongst existing rivals. (Freeland, 1968, p. 115) The innovative cutthroat forces model as projected by Porter acknowledged five forces which would impact on an organization’s performance in a cutthroat market. These include the following: (Swaffer, 2002, p. 102) i) The Degree of Rivalry The degree of rivalry, which is the most noticeable of the five forces in the hotel industry, helps decide the extent to which the value fashioned by a business will be dissolute through head to head contest. (Cunill, 2006, p. 78) Perth has overtaken Brisbane as Australia’s number one hotel bazaar after having strengthened its bazaar leader position all through each quarter during 2007 to record the uppermost Revenue Per Available Room (RevPAR) expansion, highest ADR expansion and uppermost tenancy result (82. 5%) for the full year. (Richards, 2006, p. 120) Hotel section analysis in the three main markets of Sydney, Melbourne and Brisbane reveal that 5-star hotels are driving the sturdy bazaar performance. All the three cities recorded twofold figure RevPAR expansion during 2007 which is higher than the lower-tier segments. (Jamieson, 2006, p. 115) ii) The Threat of Entry Both the prospective and obtainable competitors influence standard business productivity. The threat of new entrants is frequently based on the bazaar entry barriers. They can take varied forms and are used to avert an influx of firms into a business at any time profits attuned for the cost of capital goes up above zero. (Higham, 2005, p. 104) The most widespread forms of entry barriers include: economies of scale, cost of entrance such as investment into expertise; distribution channels such as ease of admission for competitors; cost compensation not connected to the size of the corporation and government legislation. (Swaffer, 2002, p. 105) In a cutthroat market, all firms fabricate a standardized product. This means the goods presented by a variety of sellers are mainly identical. Since competition is based exclusively on the price, and the merchandise is homogenous, it then follows that buyers will buy from whoever’s product is cheapest, and this is also applicable in the hotel industry in the sense that tourist will choose to check inn to a hotel which they are comfortable with the price; therefore each producers is requisite to take up the least-cost method of fabrication and all surplus profits and losses will in the long run be abolished by entrance to, or exit from the business. (Addis, 2006, p. 108) Australia is in threat of becoming a lattice exporter of tourists in 2008 as strong expansion in outbound travel outpaces inbound tourist arrivals. The recently released Australian Bureau of Statistics (ABS) Overseas Arrivals and Departures data reveals that arrivals have exposed some revival in the primary two months of 2008 (up 1. 7%), outbound travel has augmented by a staggering 14. 5%. (King, 1997, p. 94) The major competitor of Brisbane hotel is Sydney. However this was in the past. Sydney attracts a broad range of commerce events, and these proceedings tend to be larger than regular. Whereas the National Business Events Study (NBES) establish that New South Wales hosted 27 percent of the entire meetings in Australia in 2003, this represented 40 percent of the entire delegates. In terms of standard occasion size, Sydney hosted the biggest proceedings (roughly 162 delegates per event), followed by the Gold Coast (102), Melbourne (96), Adelaide (92), the ACT (89) and Perth (80). (Jamieson, 2006, p. 123) Nevertheless, this position is being windswept as other States are attracting an escalating percentage of intercontinental trade proceedings delegates. Queensland is to some extent differently positioned. Because of its chief coastal resort cities, it has key conference amenities at Cairns and the Gold Coast, as well as Brisbane. When these three locations are taken jointly, it reveals that in the mid-nineties they jointly held only about half as numerous meetings as Sydney. Ever since, their position has augmented considerably and in the epoch 2003-2005 they held about as several meetings as did Sydney. (Swaffer, 2002, p. 110) iii) The Threat of Substitutes A threat from substitutes exists if there are substitute products with inferior prices of improved performance parameters for the equivalent function. They could potentially draw a momentous proportion of bazaar volume and for this reason reduce the possible sales volume for existing troupe. This category also relates to balancing products. The threat of substitution is also influenced by switching costs such as retraining, retooling and redesigning that are incurred when a consumer switches to a dissimilar kind of product or service. (Higham, 2005, p. 111) Brisbane hotel faces the barricade of cost of setting up such as renting or owning building and licensing faced by new-fangled entrant. Even though firms in a monopolistically cutthroat market do face a low barrier to entry, the firms vend differentiated products, therefore causing new-fangled firms harder to be recognized. For example; Pier Nine Oyster Bar and Seafood Gril in Brisbane is a well-liked seafood restaurant. It then follows that a new seafood restaurant may have intricacy attracting clientele because of Pier’s recognized reputation. (Addis, 2006, p. 114) iv) Buyer Power Buyer power is one of the two level forces that control the misappropriation of the value fashioned by Brisbane hotel industry. The most imperative determinants of buyer power are the size and the attention of clientele. Other factors are the degree to which the buyers are well-versed and the attention of the competitors. (Jamieson, 2006, p. 130) Brisbane hotels come in all the shapes and sizes one would expect from Australia’s third biggest city-the enormous names like Hilton, Marriott and Sheraton are all there, all along with loads of self-governing establishments which vary from extremely quirky to absolute dirty. Similar to any bed where you relax your head, you acquire what you disburse for. Moreover, at the cheaper end of the range, a flawlessly contented room in an essential visitor hotel in the heart of the city like the Nomads will place you back about $80 a night at reserve rates, whereas a two bedroom suite in the historical 5 star Conrad Treasury Casino will cost you roughly $220 if you are looking less than two weeks ahead-which is fairly of high-quality for a five star hotel. (King, 1997, p. 101) v) Supplier Power This is a reflect icon of the buyer power. As an end result, the examination of supplier power characteristically focuses primary on the relative size and attention of suppliers comparative to commerce involvement in the inputs supplied. (Garling, 1991, p. 107) The aptitude to charge clientele different prices in line with differenced in the value fashioned for each of those buyers more often than not indicates that the bazaar is characterized by high dealer power and at the same occasion by low buyer power. (Kohen, 1995, p. 97) Brisbane hotel is an outstanding example to other main hotel markets in the steady preamble of new supply, as opposed to gesticulate of new-fangled hotel developments flooding the bazaar once the market conditions become encouraging. A slow but stable flow of new stockpile goes a long way towards sustainably increasing the market without causing occupancies and revenues to fall. (Cunill, 2006, p. 91) 2. External Stakeholders and Broad Environment External stakeholders These encompass real land agents, state visitor offices, developers, financiers, body business service providers, hotels with a strata title attention and administration human rights brokers. (Swaffer, 2002, p. 118) The assortment of community schemes is echoed in the range of lawmaking schemes that subsist across Australia. One of the basic differences across jurisdictions is the terms and lawful jargon used to explain key features in Brisbane hotel. This difficulty poses realistic problems for stakeholders in general and for practitioners who are required to function athwart state boundaries. (King, 1997, p. 117) Broad Environment This consists of four significant factors such as current social forces, global economic forces, global political forces and technological innovations. (Garling, 1991, p. 114) i) Current social forces Given that travel was a requirement for numerous workers at the turn of the century, it then follows that homosexuality action in countryside contexts and urban public spaces was inextricably associated. The features of superior population areas, clear in Brisbane hotel and larger local areas were also noticeable in lesser urban settlements. (Higham, 2005, p. 116) ii) Global economic forces Australia’s four principal city lodging markets enjoyed a record year of tenancy levels in 2007, with the outlook for 2008 being evenly as optimistic in spite of far from ideal national and worldwide market circumstances. (Kohen, 1995, p. 101) Australia Bureau of statistics (ABS) data released for the full year 2007 shows that for the initial time the internal city hotel bazaar of Brisbane has achieved tenancy levels over 80% averaged all through the year. This performance underscores Australia’s confrontation to the universal monetary slowdown as trade travel remains burly. High occupancies are also a side-effect of the capital boom, which is supporting Brisbane hotel markets as local centres for these resource-based state economies. (Addis, 2006, p. 122) With continuous expansion in accommodation demand, thanks to affluent economic environment and sturdy market essentials, Australia’s chief city markets of Brisbane will see occupancies linger high and proceeds increase. (Garling, 1991, p. 119) The majority multicultural cities are Melbourne and Sydney. Both cities are well-known for the diversity and quality of universal foods available in their many restaurants, and Melbourne particularly promoted itself as a hub for the arts therefore posing a threat for Brisbane hotel in Australia. (Jamieson, 2006, p. 134) iii) Technological innovations True commerce innovation does take place through a variety of mechanisms such as commerce strategy, organization practices, procedure alteration, and assets investment in new-fangled plant and equipment. To be familiar with this, the Australian Bureau of Statistics (ABS) by now has events of technological innovation. (Cunill, 2006, p. 103) iv) Global political forces The worldwide hotel business recorded optimistic growth in standard daily rate and proceeds per obtainable room for the month of July 2008; this is according to the statistics from Smith Travel Research (STR). Moreover, fashion hotels are an element of a speedy development in the market for lavishness recognized customer products. This was incorporated prior to the political situation that arose in Australia. (Higham, 2005, p. 121) 3. Factors that Influence the Sector’s demand and cost structures i) Technological innovation This has debatably been the leading factor in determining fiscal services of Brisbane hotel in the past two decades. Systems for dealing out, communicating and sturdy information are an indispensable element of the infrastructure sustaining fiscal activities. (Kohen, 1995, p. 112) Technology has connected markets around the globe and opened cross-border delivery of both wholesale and retail fiscal products. This has created a competitive advantage to Brisbane hotel in Australia. (Freeland, 1968, p. 119) ii) International Integration This has resulted prior to technological advances and as a result there has been a rising tendency towards international integration amongst financial markets. In numerous areas of the Australian bazaar, predominantly those connected with across-the-board funding, international markets have replaced home markets as the main source of finance. A result of globalization is that competition between fiscal service providers occurs internationally to a certain extent than at the state or local level. Globalization has spawned a production of institutional shareholders who control huge portfolios and have particular loyalty to products and state marketplace thus boosting Brisbane hotel financial status. (Swaffer, 2002, p. 125) iii) Changing customer needs Markets developments have also been fashioned by changing customer needs. In Australia, the most clear of these has been the enlargement of enforced superannuation and the accompanying enlargement in the finance administration business. This has resulted to Brisbane hotel modifying their products and services so as to satisfy the customer since the customer is the king. (Freeland, 1968, p. 121) iv) New Entrants These factors have encouraged new-fangled entrants and innovative ways of doing business. For instance, unlike a decade ago, hotels and construction societies are at present extremely aware of the competition that they face from securitizes. This has made Brisbane hotel and other industries formulate strategies of dealing with new entrants. (King, 1997, p. 126) 4. Strategic Issues facing Organizations in hotel sector i) Location Brisbane is a low-lying terrain mass positioned in a floodplain. Nevertheless, this has worked to the benefit of the hotel. Brisbane is located along the Brisbane River and is neighboring to the Great Dividing Range and the Moreton Bay. This has generated a lot of income since it serves as a tourist attraction base. (Garling, 1991, p. 122) ii) Climate Geologically, Brisbane hotel is situated contentedly in the State’s Southeast corner, at the oceanfront of the Pacific Ocean to the east. Because of this, it then follows that many inhabitants and vacationers from Melbourne and Sydney come over and expend winter in Brisbane thus boosting the hotel’s revenue. (Higham, 2005, p. 128) iii) Events and Festivals Several events and festivals have also boost up tourism in Brisbane hotel. For instance; Brisbane River Festival is usually held in the middle of September every year. In addition to this, Brisbane is becoming a well-liked sports destination in all of Australia and not just in Queensland. It has previously hosted the Commonwealth Games and Rugby World Cup and still hosted a number of events for the 2000 Sydney Olympic Games. This has generated a lot of income for the Brisbane hotel. Moreover, Brisbane is proposing to support and hold the 2024 Olympics. This will generate the country lots and lots of revenue. (Jamieson, 2006, p. 136) Conclusion The event trade in Australia continues to thrive and events are more and more viewed as vehicles for the facilitation of local growth. Regions may be fashioned for various reasons, counting economic purposes, and debatably such economic purpose will decide the most suitable set of local restrictions, the types of local organizations that will be established and the kinds of local policies and programs that will be implemented. Moreover, technological innovation, international integration, changing customer needs and new entrants have contributed towards the hotel formulating strategies in order to satisfy their customers and as a result Brisbane hotel has maintained a competitive edge thus earning profitable foreign exchange from the tourists.

Organization & Operation of International Investment Bank Essay

Nowadays, banks seem to be springing up in the nooks and corners of every city in every country. The banks are no longer operating globally, in fact most of the big banks have marked their presence in most of the continents and yet they keep on expanding their business. There was a time when banking only meant providing loans to people or keeping their deposits but this is not the case anymore. Many different kinds of banks have sprung up offering diversified financial service that provide clients with investment and insurance products but the major ones are the commercial banks and the investment banks. The banks not only offer services to the customers and make their own money in the process but are in fact a vital part of the economy and its development as well. The purpose of the study is to make an analysis of the role played by investment banks; through their importance will come to light. The study will also be discussed with respect to the working of these bodies internationally. Introduction: The study deals with investment banks it is important to know how these institutions are different from commercial banks. Commercial banks are those institutions which accept deposits, provide business loans, and also offer other relevant services. Besides, they also provide the facility of making a variety of deposits through accounts like checking, time deposits or savings (Harvey, 2004). The purpose of existence of these institutions is to make a profit and the owners are a group of individuals, of whom some may belong to Federal Reserve System. Though the commercial banks provide services to individuals or clients, but their prime concern is to receive deposits and lend to businesses. An investment bank perform a range of tasks including issuance of securities (underwriting), management of portfolios of financial assets, trading securities (stocks and bonds), helping investors in buying securities and providing financial advice and support services; they are also involved in various proprietary functions in the financial markets, where they are their own clients (Lim, 26). It is mainly an intermediary who brings together sellers of stocks and bonds with buyers of the same. It differs mainly from the investment bank in the aspect that it has no inventory of cash deposits unlike a commercial bank. The companies usually use investment banks for achieving the same end as the commercial banks. If capital is required by a company, it may either obtain loan from a commercial bank, or buy equity or debt from investment bank. Commercial banks have availability of funds through depositors unlike an investment bank who, for this reason, have to spend considerable time looking for investors from whom they may obtain capital for clients. Literature Review: In the earlier days, banks were usually restricted to their local place of origin and only a few large ones had their branches in other countries but during the 19th century it was seen that many small banks failed in trying times for the reason that they were dependant on the fluctuations that local trades and industries went through; on the other hand larger banks which had their branches across the border were much secure as the risks were extended across a larger market and a broader range of borrowers. This is what gave rise and added to the popularity of international banking. Banks are involved in a wide range of services including the safe keeping of money and its transmission by different means like checks. At a primarily level, a bank takes the money from the customers and undertakes to repay it when demanded or when a prearranged period expires. But the roles of bank are no longer restricted to taking deposits or providing loans, there has been a great change in the nature of banks and their business has become more complicated over the last 20 years and this can be greatly contributed to the addition of various services pertinent to non-banking areas. This is the reason that major banks have taken control of bodies like merchant banks, estate agencies or hire-purchase companies, and have moved into areas like insurance and leasing (Geoffrey, 38-41). International banks operating overseas often suffer downward rating as seen the course of history that when a country’s creditworthiness is downgraded by international private agencies because of slacking public finances, it is followed by a similar rating of banks issuing shares because they carry large amounts of foreign currency government debt. The reason for this is that debt carries foreign exchange risk since the country is issuing it in a foreign currency thus increasing the probability of default in case the domestic currency depreciates; the countries who issue Eurobonds exercise acceptable sovereign credit ratings which permits them to float, in international markets, foreign currency bonds that have been underwritten by major international investment banks and carry investment grade AAA. Funds from the sale of securities return to banks and then may be invested partly in the provision of loans to the private sector or any other asset which carries a lower risk than that of foreign currency government debt (Shaheen & Achkar, 353). A bank should work profitably but by no means it should turn into an organisation that is not trusted by its customers, employees or shareholders. Most of the customers across the globe consider banks with quiet suspicion and at times even with vocal hostility where they are considered evil and not a valued service industry and there is rarely a day when the tabloid press does not expose some apparent banking bungle or scam. Majority of the banks are bent opon extending their branch network and makreting their products. A customer who is anxious to just perform a simple transaction like cashing a cheque, often find himself/herself in the hands of a bank staff trying to make him go for the product of the week. The banks are no longer focused on creating a customer-oriented environment that may attract customers but are following the policy of ‘indiscriminate sell’ which are driving out customers. Merely, expanding the branch network in different countries is not enough unless the bank succeeds in establishing a reputation for loyalty and trustworthiness with its borrowers. There are occasionally times when conflicts arise between the interests of a bank and its borrowers, but the key is to maintain mutual respect. Like the other organizations in service industries, customer satisfaction should lie at the core of a bank’s culture (John, 27). With respect to working of the investment banks, there is great reliance on analysts. These analysts are essential to the organization and working of investment banks. Because of the servies that they provide and avail, investors depend on analysts to perform a skilled analysis of security valuation, as it is usually the art and science which they are unable to perform themselves. At individual level, these analysts normally give coverage to a group of companies falling within the domain of particular industries. For this reason all major investment banks and even smaller commercial ones have their own teams of analysts who perform essential research on public corporations. These analysts do not contribute directly in generating material revenue for the bank. Instead, their services support two major groups. The first group is of professional and non-professional investors who give commissions to the banks by means of their orders to buy and sell securities. In this domain, what the analyst does is to spend time talking with investors in order to collect orders from them, which are not directly given to them but instead placed through salespeople working in the bank and with whom analysts keep in touch on a daily basis. The other important group in investment bank is the corporate finance department. This department is the vital contributor to revenues and profits earned by banks. The majority of revenue earned by the corporate finance is a result of underwriting and arranging financing (debt and equity) and providing services like mergers and acquisitions (M&A) advice to the clients. The role of analysts in Corporate finance lies where they are seeked for the promottion and sale of capital offerings and M&A deals to investors (Hayward & Boeker, 1-5). In the past, investment banks have earned great benefits because of the high demand for its products and many existing macro trends prevalent in most of the countries. One such example is of disintermediation of traditional capital providers which facilitated the continued developments in the business arena of corporate bond and securitisaties; even on the investment side, there was disintermedation of traditional savings providers like banks or insurance companies, as a result a flood of funds rushed into equity markets which brought the need for execution of advice and transaction; another factor which contributed to the success of investment banks is the globalisation of corporations and investors. Another positive trend was the effort of continued restructuring by corporations and governments so as to achieve global competitiveness and thus requiring advisory services of the investment banks. The reaction of the banking industry to these trends was the decision to organise itself around the organizations that were product-orientated so as to take advantage of the situation. To put it in other words, the former range of services that were offered and product capability was amplified due to increased product demand (Kauffman & Howcroft, 214). The international investment banks expanded their network across many countries as result of opportunities that were offered due to structural changes in the economy during the nineties in the form of privatization and ownership reallocation both in the financial and non-financial sectors (Messori 177). The function of international investment banks in terms of the banks’ own business is not awlays and necessarily the desire to be a major force in the retail mortgage market; but sometimes what they are instead aiming for is the building of their securitisation businesses. By expanding into the mortgage space beyond the local arena, a ready supply of new assets for securitisation become accessible to these banks directly, rather than this that they source loans in the secondary market. The benefit of securitising most of the loans of the bank in the mortgage business originates implies that the investment bank is capable of passing the risk of credit along to investors, and not only this but in turn also earning feed by means of arranging the securitisation transactions(Wood 36). An international investment bank often reaps the benefit of geographical co-location in many of the cases. The concept behind geographical co location can be illustrated by means of a ‘local code’ which promotes the idea that the knowledge which is specific to a certain place can be best acquired and utilized by marking your presence at that place. When talking of investment banks’ services, let’s say, its M&A advisory service, such transaction requires knowledge that is of a non-cosmopolitan nature, meaning, that the availability of such knowledge is limited, which means that it is pertinent to local market besides being related to the professional knowledge of the international M&A community (Schamp et al. 11- 615). Methodology: This research is basic in nature and is done to have a better understanding of the investment banks. The qualitative methodology of research has been used and is based on the use of secondary data, which is one that is gathered from existing data sources and has not been done by the researcher himself. For the purpose of collecting data for this research, articles/journals on the subject have been used. The use of secondary data saves time of doing all the research from a scratch and saves cost due to easily available of databases catering to the need and providing relevant information. The methodology takes effort in identifying the correct data and discarding the irrelevant ones; besides it authenticity may also be questioned at times. Property and validity of data: The data is secondary in nature, and has been obtained through reliable sources like published articles and research journals. The data is valid since it is not obsolete, relevant and authentic. Analysis of findings: Now, we will present an analysis of our findings in light of the literature review. Expansion banking beyond the boundaries:Â  The workings of banks on an international level has not always been the trend, in fact, the banks usually used to be local and work within limited cities and towns but over time, such banks turned out to be unsuccessful and the counted few ones who operated internationally were seen to be making success. thus the banks saw opportunity in expanding their branches and their network as a whole beyond local boundaries. The reason for the success was that when they operated in diverse foreign markets and dealt with diverse borrowers, the risk was no longer linked with a single market only and was thus reduced. Rise of investment banking: The traditional functions of bank were limited to making loans and taking deposits and transferring of funds but this is no longer the case. There are banks now providing non-traditional services like leasing, insurance, mortgages. The investment banks became well versed among the masses as a result of diversification of bank services and of the trends that were prevalent in the economy during the 19th century. These trends among others, included disintermediation of financial services and different restructuring in the economy like privatization or resource allocation among different sectors which facilitated the need for advisory services. Organization of international investment banks: The international investment banks are organized in a manner so as to reap the best benefits from their operation in the international markets. These banks deal with local securities among other things of the countries in which they operate. This provides them with a better understanding of the local market conditions but at the same time, unlike local banks, they are not oblivious of the international markets and can play smartly in both arenas. But the back draw of this international arrangement is often visible in the form of downgraded rating when the foreign country of their operation is going through some sort of economical crisis but even then this downgrading is better than those of the local investment banks who are purely organized around the local financial instruments in their operations. The international investments banks are organized in such a way that only makes them visible in the international domain but also provide them with a supply of new assets thus enabling them to pass the credit risk to investors and also to arrange more transactions. Operation of the international investment banks: In the operation of the international investment banks, trust is a crucial element. Banks seem to be more focused on the expansion of their branch network and sale of their products than on building the customers’ trust. The customers must have the trust that their bank is providing them with the right investment options and that it is equally involved in the risk bore by them; only then can these investment banks operate successfully. The international bank operates through a complicated process but what is important is to know that these banks are dependant to a great degree on their financial analysts. These analysts are not involved in the direct generation of revenue but are in fact the essential elements for providing support to two of the revenue generating bodies, which are the investors and the corporate finance. The analysts spend considerable amount of time with the investors and give them advices regarding the right place to invest in; with respect to the corporate finance department, these analysts support those working with corporate finance department in persuading the clients into letting the bank handle their buying and selling of securities and other needs and in promoting their services by giving the right check and balance. Conclusion:Â  Banking is no longer traditional and the former traditional role lies with the commercial banks; the diverse operations have given rise to the investment banks that have expanded their networks internationally and are making success. By operating globally, the investment banks come to terms with the local market conditions which enable them to have a more in depth insight and thus make wise investment decisions and provide the clients with the right options for decision making; the main personnel involved in their operations are their analysts who provide support to the revenue generating bodies of the bank.

Gothic novel Essay

The novel ‘Jane Eyre’ by Charlotte Bronte has been categorised as both romantic and gothic by scholars and literary critics. The plot entails the exploration of a woman’s domestic trap, a common Victorian theme, with her subjection to patriarchal authority and her dangerous attempts to escape from such restrictions and the consequences. There is a mixture of mysterious events, moonlit natural environment, beautiful dream-like landscapes, enigmatic characters. Jane is represented as the heroine of the story, the virginal Christian female character. In opposition to her is the character of Bertha who is insane and is hidden in the attic of Thornfield Hall, representing Rochester’s torment and his terrible secret. It can be argued that the plot has many entwined characteristics of both genres and it is very difficult to think of it as of one kind. The essay will discuss the way in which the novel accords with the characteristics of a romantic novel and a Gothic novel and evaluates whether it may be possible to assign it with one of the two labels. Romantic novels emphasize imagination and feeling, they focus on nature’s ability to free humans from society’s judgments and limitations. English romance narrates exotic and unusual stories, they are concerned with chivalric deeds (as in the stories of King Arthur), recalling themes of romantic medieval literature. The latter results from a period in English history when society was in search for of order and the approach was that everything had to be explained rationally and scientifically, hence often being referred to as the Age of Reason. However, the romantics’ themes are in opposition to such a way of thinking and rebelled against such established norms and conventions. The characters in romantic novels place the self at the centre of his/her own existence, this is achieved by focusing on his/her thoughts rather than actions. The theme or romantic love as opposed to passionate love is explored too and the consequences the latter would bring. Another narrative style which emerged was the Gothic novel. The background setting has a dim and imposing mansion or castle, as a backdrop to the atmosphere of mystery and suspense, where the character’s fears are explored beneath the surface of the â€Å"enlightened† psyche. Other features of a gothic tale is the presence of omens, portents and visions. There is usually a suffering, tormented woman who needs to be rescued from a controlling and lustful guardian, and in the process displays an array of extreme sentiments and reactions, such as swooning, crying and sorrow. She is usually often commanded to marry someone she does not love or commit some moral or actual crime. Supernatural events may be used to explain coincidences and many scenes evoke terror through the depiction of physical and psychological violence. So I would like to examine how Jane Eyre would seem to be typical of the romantic novel that was so popular in Victorian England, while at the same time having, in my opinion, all the ingredients for a gothic novel. The plot recalls a fairy tale ‘†¦ when you came upon me last night I thought unaccountably of fairy tales’; as Bronte writes in chapter 13. However, Bronte skilfully uses it as a frame, to give a clear picture of her great feminine consciousness, expressed in Jane Eyre’s persona. This is conveyed through the use of a first-person narration, that depicts the world around her and the others in relation to her and her point of view. In the romantic novel the individual stands at the centre of romantic fiction relating facts and experiences. In the following passage, Jane demonstrates her fervid romantic imagination, as she explains to Adele that she and Mr Rochester are going to get married and utters ‘Here is a talisman will remove all difficulties;† (chapter 24) Jane metaphorically evokes the theme of natural forces which come to her aid when she is most in need for comfort. The passage continues with, a fairy that ‘†¦ held out a pretty gold ring†¦.. and I am yours, and you are mine; and we shall leave earth and make our heaven yonder'(chapter 24). The latter depicts the traditions of dream and oral tales which was much loved by the romantics. However, these are also elements which can be found in Gothic novels, where enchantment and fear are closely related. There is much about Jane and Rochester’s introspection, their belief in the supernatural, and conflicting emotions. Jane fights against the wicked spirits of Gateshead, Lowood, Thornfield, Manor Hall, and Marsh End at the end, these supernatural elements take the form of moral choices that force her into reflecting upon righteousness. For instance, the striking of the chestnut tree by lightening, under which Rochester had proposed to Jane (chapter 22), is a portent of their imminent separation and the dangers that lie ahead. It is a perfect Gothic symbol, as nature predicts human fate. Moreover, Bronte is able to convey and juxtapose different tones in the same passage, it can change from a playful and romantic tone to an enigmatic and harsh one. For instance, when Rochester is trying to convince Jane to dine with him and she refuses, his mood changes immediately . He is upset by her answer and asks Jane if she supposes whether he eats as ‘an ogre or a ghoul’ (chapter 24). Here, Gothic elements are used metaphorically to convey the degenerating tone of such a conversation. Recalling the Bluebeard tales themes, which underlines the novel. The supernatural elements conceal emotions and have been used to symbolise the child which resides in all of us and comes out in moments of loss of consciousness and fear, and at the same time heightening the readers awareness of the fragility of the heroine/hero. As when Jane describes the red room, with its noises and mirrors, where she was secluded as a punishment, everything in the room becomes fearful to her eyes. The mere colour ‘red’ conjures up images of blood and being locked in either literally or in a moral sense is an abhorrent idea to most (it recalls also the theme of trap) (chapter 2). Another important aspect of the novel is the exotic. Romantics, in their novels, often alluded to distant places. In the story, Rochester has a house in Spain, where he wishes to take Jane once married, considering it as a more relaxed country, colourful and sensual place. Before meeting Jane, Rochester had travelled around the world in search of a foreign wife (Chapter 27). Yet, Bronte condemns such behaviour and makes Rochester feel reckless with disappointment to the point he utters that ‘I tried dissipation – never debauchery: that I hated, and hate. That was my Messalina’s attribute’ (Chapter 27). Jane rejects such exoticism and is ‘not forming a very favourable opinion’ on him, he is perceived by her as ‘an unfeeling, loose-principled rake’. What Bronte is trying to emphasise is that if romantic love was to be perceived in such a superficial light – as being just for sexual pleasure – then it together with passion, would mean a loss of the self morally and ethically. Moreover, the idea of the character who travels towards unknown distant places, against wicked and unpredictable forces (these are represented by the several lovers he mentions, throughout his journey, and finally by Bertha, his insane wife segregated in the attic of Thornfield Hall). Thus, Gothic elements are used to create a sense of loss and psychological violence, just like what Mr. Rochester experienced throughout his journeys. Bronte demonstrates an attitude towards natural forces, which ‘gravely offered†¦ help’ to such a ‘reckless’ man. In fact, he was not able to fall in love with a ‘womankind’, but with a natural ‘slender creature’ who is personified by Jane (Chapter 27). Thus, the novel entails many elements which are characteristic of fairy tales. Jane is repeatedly described as looking like a spirit, a tiny phantom, â€Å"half fairy, half imp. â€Å". Such an association permits an author to use less words to express deeper ideas, by adding powerful images through an apt use of wondrous language. The imaginary is at the heart of both narrative genres, however under many aspects Gothicism emerges to create suspense and conveys the characters’ inner torments, such as â€Å"the striking of the chestnut tree’, ‘the red room’. These contrast with the romantic descriptions of the outdoor scenes, such as when Jane runs across the countryside, are nevertheless described in a vivid and detailed manner as if Jane Eyre were painting a realistic picture of the scene in all its shades. This imagery suggests her characters’ moral condition and state of mind, therefore the mood of the story is immediately conveyed. There are numerous symbolic references to weather and to the sky, in the form of storms, rain, clouds, and sun. At the very opening of the novel, Jane sets the scene by mentioning that â€Å"the cold winter wind† had brought with it â€Å"clouds so sombre, and a rain so penetrating. † There is a full moon on the night when Bertha attacks her brother, as there is on the night when Jane runs away from Thornfield. Nature is presented as the â€Å"mother† of all creatures, which connotes Jane’s romantic side and her fragility. The scenes that are a set for Rochester and Jane Eyre’s passion take place in natural surroundings. After their wedding is interrupted, â€Å"the woods which twelve hours since waved leafy and fragrant/now spread, waste, wild and white as pine-forests in wintry Norway. † Here, Bronte adds Gothic elements, which changes the mood to one of tormented state of mind, thus anticipating Jane’s future struggles. At the end, when reunited, Rochester tells Jane that â€Å"I am no better than the old lightening-struck chestnut-tree in Thornfield orchard. † The theme of nature seems to be treated in both a romantic as well as a gothic way, due to the atmosphere which at times evokes joyful and comforting images, while at other times horrific images and death. In chapter 35, the personification of the ‘wind’ effectively suggests the way in which the mood can be created by nature. Bronte uses it as the means by which she received the message from Mr Rochester, in fact she follows it throughout ‘the passage’ until she finds her way out of that situation. This manifestation of the voice perceived in her spirit and mind, and not externally, could be construed in a gothic light i. e. as a portent or a supernatural event. There is, however, a romantic and passionate image of the voice which contrasts with the Gothic setting. The passage ‘I am coming! †¦ hush’ (chapter 37) is extremely descriptive with many adjectives ‘dark’, ‘void’ and nouns such as ‘loneliness’ and ‘hush’. The combination of this with short sentences creates an immediacy, dramatic impact and mystic atmosphere, characteristic of Gothic novels. In conclusion, by writing from an individual point of view, by creating characters who are possessed of strong feelings, fiery passions and some extraordinary personalities, by using some elements of horror and mystery, Jane Eyre is able to recreate life in a fantastic romantic way. The vividness of her subjective narration, especially the heroine who is contrary to the Victorians’ expectations, the presentation of the economical, social background of the time give her works a never dying popularity. The eerie atmosphere with supernatural associations can recall the characteristics of Gothic novels and are used in some way to justify what is inexplicable (as the voice of Mr. Rochester calling her or striking of the chestnut tree). All in all, I consider gothic as a subgenre of the romantic novel, both require drama and high emotional intensity which are elements that can be definitely found in Jane Eyre, one cannot exclude the other, it would be a great mistake to try and categorize such a masterpiece under one genre.

Application Architecture Essay Example | Topics and Well Written Essays - 750 words

Application Architecture - Essay Example It also presents a graphical representation of the recommended architecture before identifying any potential ethical issues that could arise in connection with the new architecture. As described, the company is a large organization and has various branches across the United States. In addition, the company also has a larger data center that each office connects to through a wide area network (WAN). Therefore, this implies that for the data management operations of the company, there is a central unit from which all other offices across the US access the company’s information (Fowler, 2012). Since the company has various branches scattered across the United States and connects each one of its offices through WAN, advanced internet application architecture has to be used for the implementation of the new payroll application. This application architecture shall have four or more tiers and will seek to offer utmost functionality, flexibility and efficiency within the business organization (Li, Chen, Du, & Wang, 2008). The choice of the application architecture is based on the fact that in the contemporary society, technology has recorded advancements in the world of internet application, web development and other related technologies. Thereby, as a result of these advancements, individuals have been able to come up with new architectures that utilize the standard network communication protocols and thus also able to operate as a network based application architecture. Additionally, the architecture is perfect for the implementation in a large organization especially for payroll programs since it focuses on private data distribution over a WAN (intranet or extranet) (Cordeiro, Ranchordas, & Shishkov, 2011). Unlike the earlier versions of network based application architectures, for this architecture, the WebPages are not used as agents for data distribution. They are also used for the provision of numerous application services with the main aim of acceleration

Application Resume Essay Example | Topics and Well Written Essays - 250 words

Application Resume - Essay Example I applied to the Master Degree in order to advance my academic knowledge and career competitiveness. I am a very passionate person when it comes to learning new things. This follows the notion that new things come with challenges, and challenges result in opportunities. Personally, education is an endless process. In other words, completing my degree and achieving professional certifications is just but the beginning of my quest of knowledge. Learning is an on-going process that is neither limited to the formal institutions nor printed certifications and awards.The drive to start a business is the desire to be my own boss. I believe I am passionate and talented enough to practically exercise my knowledge and skills in a personal business. My core concern is to meet community needs and demands that fall within my business line. My motivation is the desire to serve the broader society through my creativity and innovativeness. Financial success also counts in as a motivational factor, a longside gaining respect and being appreciated for who I am and what I do. I am a well-rounded individual in terms of honesty, quality, humility and compassion. I want to stand out as a role model for my family and community. Just like the broader society, my family is important to me. I want to provide a nice home and a loving atmosphere for my family. I emphasize on the importance of education to my family since my personal success is highly attributed to education.I have gained values that I would like to see my children possess.

Discuss how your ovservations support or contradict these writings Essay

Discuss how your ovservations support or contradict these writings - Essay Example It is true that when sometimes one person is stuck working on a project in solitude that they perhaps may run into a brick wall and not be able to think outside of the box. When working as a team, new ideas flow from all different directions. The only problem with this collaboration is that sometimes it can create conflict with in a group work setting. To manage conflict, it is important that everyone works together to communicate ideas effectively so that they can create something innovative. It often takes one leader to take charge of a project in order to manage it and to get everyone else on board with the idea. On the contrary, the article states that psychologists Mihaly Csikszentmihalyi and Gregory Feist have conducted studies where â€Å"the most spectacularly creative people in many fields are often introverted,† and that they are â€Å"not joiners by nature,† (Cain). This can be true for many as well. Some people may have the type of personalities where they like to take do something on their own. This may be because they are a little bit of a control freak and know that if they want something done right, then they have to do it themselves. There are a world full of people who operate best under this situation. They can do their own thing on their own time and at their own pace in order to get something done and to get it done to their own personal satisfaction. Sometimes doing something by yourself is very gratifying because you can take full credit for what you have accomplished. I believe that it is possible to be creative within a group. It does take some effort to be heard. Depending on the size of the group, one person may have a great idea and someone else can expand on it, making it even bigger and better. For others, they may feel put on the spot if they are asked to throw in their own thoughts and they come to a blank simply because of the pressure that working in a group can result in.

Professionalism in physical therapy Assignment Example | Topics and Well Written Essays - 750 words

Professionalism in physical therapy - Assignment Example Indeed, the issue of the community cannot be left out in determining whether dentistry or any other occupation qualifies as a profession. This is because of the social contract that every professional has with public he or she serves. The social contract is clear though not in written form; it tends to dictate over all other functions relating any profession involving provision of services to the public. The advantage of the community responsibility approach is that it underpins the majority of other characteristics (Welie, 2004). The code of conduct as a major characteristic in the classification of any occupation as a profession which revolves around provision of services to the community in a responsible and accountable manner. Based on the community responsibility criterion, a profession must satisfy an indispensable social need and be based upon well established and socially acceptable scientific principle. This criterion supports the notion that the professional status is besto wed on an individual by the public. Â  The advantage of using this criterion revolves around compelling workers or individuals referring themselves as professionals to internalize the conceptualization that their actions are subject to the public scrutiny and approval (Welie, 2004). As a result, professionals are expected to conduct themselves in a manner that is acceptable to the community. This also ensures that people bearing the title professional execute their role in the best way possible and according.

Environmental studies and ecological sustainability Assignment

Environmental studies and ecological sustainability - Assignment Example The main themes include the element of place and time in constituting environmental management knowledge. Apparently, the Aboriginal people took into consideration the importance of place in developing their indigenous knowledge on ecology. The authors assert that these people derived their ecological relationship principles by recognizing the influence of the variable and complex lowland river ecology of the Darling River system around their habitat (Muir, Deborah and Sullivan 262). One area of interest is when the writers develop a contrast on the aspect of place between western cultures and that adopted within the indigenous knowledge. It creates a distinction between western theories and indigenous principles. In addition, another theme that develops within the text regards human conflict of interest and ecological management. Based on principles adopted by indigenous knowledge, specifically the Aboriginal people of Australia, the state of environment reflect the nature of human beings living within that eco-system (Muir, Deborah and Sullivan 264). This theme extrapolates the connection between social and ecological system within any given society. Article 2 Janis Alcorn and Antoinette Royo are the primary authors of the articles on a reputable social movement of the Dayak village in Indonesia. Both authors work for Washington’s Biodiversity Support Program. The program, which is supported by numerous non-profit organizations including USAID, deals with programs aimed at addressing challenges facing the world’s biological diversity.

Fitness Plan Assignment Example | Topics and Well Written Essays - 500 words

Fitness Plan - Assignment Example Walking, dancing and swimming are examples. Walking is perhaps the most convenient and has the same benefits as the other more vigorous forms of exercise. The cardiovascular system is dependent upon the exercise one does in a day. In order to improve it one has to walk 3 to 4 times a week for at least 20 to 30 minutes. The walk should make one breath hard but not gasp for breath. In order to lose weight, a minimum 5 days of exercise for 30 minutes, at a brisk pace is required. For reaping general health benefits, 30 minutes a day of exercise (at least 4 days a week), at a comfortable pace is recommended. Warm up exercises are necessary as they cause vasodilation of the blood vessels, ensuring that muscles are well-supplied with oxygen, pliable and flexible. The heart rate also increases, and this prepares the body for a more rigorous exercise. The burning of calories is also more efficient. In order to warm up before walking, walk slowly or march for 5 to 10 minutes until breathing becomes quicker and one starts to feel warm. Cooling down is just as important, as it prevents the heart rate and blood pressure from falling too rapidly, thus preventing light-headedness. Additionally, it removes waste products, lactic acid for instance, and improves flexibility. It is thus beneficial to gradually decrease one’s speed (for 5 to 10 minutes towards the end), rather than halting abruptly. Following this, one should carry out a brief stretching routine (10 minutes). Adults need 7 to 9 hours of uninterrupted sleep at night for optimal mental function and prevent daytime napping. A lack of sleep can undermine one’s ability to deal with stress and lead to health problems. In order to follow a perfect fitness plan the diet of a person is also very important. The diet should be composed of fruits, vegetables, grains and milk that are free of fat. Products that have less cholesterol

Midterm Paper about Concept for Nursing Theories course Term

Midterm about Concept for Nursing Theories course - Term Paper Example One of the main concerns of end-of-life care is the provision of quality care for end-of-life patients, which can be difficult to define for all involved stakeholders. For the society and many health care professionals, death is a sign of failure, and they are hesitant to allow people to naturally die from their illnesses. End-of-life care is critical, because nurses have to balance conflicting goals, such as helping patients and their families deal with the process of â€Å"letting go† and helping patients experience quality of life, while still living. End-of-life care will also contradict the goal of some patients and their families to extend life, even when illnesses are already terminal. This paper explores the concepts of end of life and end-of-life care and its definitions. It will determine the criteria for the concept of end-of-life, how it is addressed in literature, tools for measuring the concept, antecedents and consequences, and it will also provide three cases f or end of life care. Review of Literature End of Life Concept Karlsson and Berggren (2011) define end of life, as the phase of patient life, where â€Å"curative care is no longer possible† and survival time is considered â€Å"short† (p.374). Epstein (2010) is concerned of end of life’s implications on the quality of caring provided to dying patients. For him, the health care staff should be concerned of end of life’s implications to â€Å"dissatisfaction, conflict, and moral distress† (p.577). It is inferred that he defines â€Å"end of life† as a critical phase of care delivery, as the end of care looms. Reinke et al. (2010) agree with Epstein (2010) and affirm the necessity and urgency of the issue of quality care when end of life is concerned. Reinke et al. (2010) define end of life as the care response to the physical, emotional, social, and spiritual needs and concerns of dying people (p.753). End-of-Life Care Concept Lippincott Willi ams and Wilkins (2007) define end-of-life care in terms of palliative care, where the latter aims to prevent and relieve suffering and to advance the patient’s comfort and quality of life (p.3). There is no goal of hastening or delaying the patient’s death, and instead, stakeholders accept death as part of the natural cycle of human life (p.3). Poor (2001) also defines end-of-life care as a concept of palliative care, where it refers to the â€Å"comprehensive care of patients with a terminal illness who are nearing the end of life† (p.6). The World Health Organization (WHO) provides a more detailed definition of palliative care: â€Å"the active total care of patients whose disease is not responsive to curative treatment† (as cited in Poor, 2001, p.6). Some of the important goals of palliative care are to control pain and to respond to the psychological, social, and spiritual needs of the patient (Poor, 2001, p.6). The WHO provides the following characte ristics of palliative care: 1) Life and death are normal processes; 2) Death is not delayed or encouraged; 3) Pain control and control of other upsetting symptoms are important; 4) The spiritual and psychological components of care are included in the care plan; 5) There is a support system for patients to live a quality and active life; 6) and there is also support system for the family of the dying patient, so that the former can cope with the upcoming realities of death (as cited in Poor

Letters of Credit Essay Example for Free

Letters of Credit Essay The use of the letter of credit in international trade has for a long time been an easy way of carrying out business operations without really having to use the credit of the applicant’s bank. Letters of credit usually take the place of a bank’s credit and enhances the speed of transactions when used properly.[1] Usually, the letter of credit serves to give an importer of goods as well as the exporter a chance to go a head with their business transactions even when there is no real liquid money available to either party. Letters of credit, however, present very many challenges to both the exporter and the issuing bank because they are usually documents that cannot be revoked under certain circumstances and so exposes some players to a lot of risk. A key concern has been the nature of the conditions that ought to be met before such documents can be honored by the exporter’s bank which usually has to rely on information from the importer’s bank.[2] It is on the basis of the intricate issues that surround the letter of credit and its use that this paper seeks to critically discuss it especially when used in the context of international trade. Of particular interest, though, is a discussion of the undue exposure to losses and other risks on the issuer of the letter of credit, particularly in instances when the applicant or beneficiary of the letter of credit does not duly perform one’s obligations or wrongfully obtains payment. The Working of a Letter of Credit From a business point of view, it is usually very important for an importer of goods and who holds an account with a local bank to seek for the financing of the bank for goods that are to be sourced from another country.[3] The reasons this is appropriate range from an ability to facilitate the business transactions and ensure a faster and timely transfer of the goods from the exporter’s location to that of the importer, and to reduce the costs that could be incurred in having to use other means of payment to pay for goods in another country – means of which are not always available. Therefore, from the business point of view, a letter of credit serves to enhance the general business transactions involving international trade. Where the challenge comes in is that point when it is never drawn or requested unless there is some form of credit that needs to be transferred. Actually, the letter of credit is used as an exchange of the credit of the bank and that of the buyer. Here, issues of compliance with the terms and conditions of the letter of credit poses many challenges and risks to the issuing bank as well as the advising bank which literally transfers the credit to the exporter’s account. This results because of the manner in which the transactions are conducted. First, an importer in the United Kingdom orders for coffee beans from a farmer in Brazil. The farmer insists that the coffee beans can only be exported or ferried on condition that the payment for them is paid within forty days from the time the transaction is entered into. The UK importer cannot get to Brazil to make the payments but there is a way that the exporter’s bank can communicate with the importer so that the credit can be transferred. However, the buyer does not want any undue risks so he does not offer cash to his bank but asks for a letter of credit to be drafted with the Brazilian coffee exporter as the beneficiary. The UK bank makes an arrangement with this importer and because he satisfies the conditions required, the bank drafts a letter of credits and transfers it to the beneficiary’s bank in Brazil. That advising bank then verifies the details of and terms of the letter of credit and duly pays the exporter. Once this is done, it is all to the exporter to ship the coffee beans to the UK. Only then can the advising bank (the exporter’s bank) be able to seek for the payment for the goods in accordance with the terms and conditions of the letter of credit. As can be clearly seen, there are so many processes involved and it all boils down to four main players who are bound to lose or benefit. There are the bank of the exporter, the bank of the importer, the exporter and the importer. Commercial Letter of Credit and Standby Letter of Credit It is always important to draw a distinction between two types of letters of credit commonly used in international trade and to ascertain the roles each plays towards enhancing payments for imports by a customer.[4] The commercial letter of credit is the most widely used and its use is restricted to the actual exchange of credit on behalf of the customer of a bank. It is the commercial letter of credit that will be needed by the advising bank or the exporter’s bank in order to effect payments. However, owing to the risks to the issuing bank regarding defaulting on the part of the importer who is also its customer, the issuing bank usually drafts and issues another letter of credit for the purposes of proving the credit worthiness of the importer. This particular letter of credit, therefore, serves the function of guaranteeing the advising bank and the exporter that the importer will actually pay for the goods. This reduces the risks inherent in international trade.[5] Based on this fact, it can be fairly argued that an issuer of the commercial letter of credit will be protected significantly in the event of failure by the beneficiary to adhere to the terms and conditions of the letter of credit. To a significant level, having the standby letter of credit protects the issuer because it cannot be allowed to pursue the property of the importer and recover the money; or it can fail to pass the money to the advising bank. In accordance to the UCP provisions, the banks are protected only mildly when it comes to failure by trader to honor their part of the contract regarding payments to be submitted. For instance, the UCP never really form part of the official international trade rules and are only applicable when the parties to the trade deal believe it is right for them. The absence of a clear law, therefore, that emphatically seeks to help issuers of letters of credit means that they are exposed to many risks. The law in this country regarding international trade in general and letters of credit in particular tend to offer protection to consumers more than the issuer of the letters of credit. It is almost always believed that banks have the right and the capacity to set up their own terms and conditions which they believe are sufficient enough to protect them from any acts of fraud by traders; and as such not a lot of protection is offered them under the law. International trade law will also protect the local bank and not the foreign bank, meaning that in the event the local bank, which is the issuer of the letter of credit, has already passed on the money to the advising bank, then there is little that can be done to recover the money especially in cases where the trader fails to honor the obligations to pay the bank due to bankruptcy or any other reason. This is because the law on bankruptcy protects the importer from the actions of banks that can lead to further legal battles. If such an importer files for bankruptcy during the period when the goods are yet to be delivered to him, then there is nothing the bank can do to recover its money.[6] A person declared bankrupt is protected from his debtors until at such a time when the bankruptcy can be lifted. This clearly renders the issuer of the letter of credit to such a trader incapable of recovering its owed monies. [1] Campbell, Dennis. REMEDIES FOR INTERNATIONAL SELLERS OF GOODS [2008] Volume II. Lulu.com, 2008 [2] Edwards, George. Foreign Commercial Credits; A Study in the Financing of Foreign Trade. General Books LLC, 2009 [3] Great Britain. Law Commission. Company security interests: a consultative report. Routledge, 2005 [4] Credit research Foundation. â€Å"Understanding and Using Letters of Credit, Part I† (1999). Retrieved 08/16/2010 from: http://www.crfonline.org/orc/cro/cro-9-1.html [5] Warner, Susan. The Letter of Credit. Kessinger Publishing, 2007 [6] LLL. â€Å"U.C.C. ARTICLE 5 LETTERS OF CREDIT .† (2005). http://www.law.cornell.edu/ucc/5/article5.htm

Electric Cars Are Going to Be the Future Essay Example for Free

Electric Cars Are Going to Be the Future Essay Nearly every household in America owns a gas powered vehicle, which pollutes our environment daily. Our society needs to consider furthering its knowledge and use of electric cars. Pollution of our environment must come to a halt in every situation possible in order to save the future of our atmosphere. I believe that the switch from gas-powered cars to electric cars is a very necessary and reasonable approach to save the environment. Several different car manufacturers have already began making efforts to adapt their vehicles to become more environmentally safe products. Although our country runs off oil and its proceeds, we can still attempt to make conversions that will lead to an overall positive impact on the United States. Making the switch to electric cars that run solely on renewable energy is a very wise economical and green decision. Our environment is long overdue for help in making it a better place for living in. The way we plan to make the environment better for living is by eliminating pollution altogether. The world annually emits approximately 8. 3 billion tons of carbon and about four billion tons will remain in the atmosphere for thousands of years. The switch to electric cars is an easy accomplishment because the technology is already at the tip of our hands. The United States will benefit a great deal after the switch from gasoline cars to electric cars is achieved. After learning the facts, the reasons are oblivious as to why electric cars are more efficient than hydrogen cars. The technology is already prepared for mass production. The negative environmental effects of production and driving the car are minimal. Manufacturers have already succeeded at innovating designs and specific features into the vehicles to assure the public’s satisfaction. With all of this in mind, it is vital to realize that the main goal of individual transportation is to enable people to get where they need to be when they need to be there. Ideally, there should be extremely limited environmental consequences when transporting in a perfect world, there would be none. Therefore, engineers and car manufacturers are not fixing the problem as a whole with their efforts to revolutionize automobiles, but every step forward counts. Instead of being content with the advancements, car manufacturers and engineers should continue to explore the world of environmentally safe opportunities to bring forward into the public eye. One of the most widely known alternatives to gasoline in America is hydrogen or biodiesel. Some might argue that hydrogen-powered or biodiesel-powered cars are more efficient than electric-powered cars, but they are not even close. Hydrogen cars are more expensive to fuel. The hydrogen car costs about three dollars per gallon, which totals around fifteen cents per mile, while the electric car pays in kilowatt-hours, which totals about two cents per mile. The average hydrogen car costs about one million dollars and the technology is just not there yet. It would cost excessively much to install hydrogen fueling stations and biodiesel pumps when it would be much easier and more reasonable to install a greater amount of electrical outlets across the world. Although, electric cars are more expensive to buy off the dealership lot they outperform the regular gasoline cars physically and economically. The electric car overall is cheaper to maintain, but unfortunately, after about ten years the lithium ion batteries start to drain out, but instead of buying a brand new car every so many years all you would have to do is replace the batteries. In the end, this will be a very good deal. The electric alternative technology is already here compared to other alternatives like ethanol, biodiesel, and hydrogen, yes, these are all great ideas, but the technology is just not readily available to us. Therefore, we should not even bother with these alternatives at all. Lastly, the gasoline cars that we use today waste power by constantly burning gas when the car is not in motion, whereas electric cars do not waste power when the car is not in motion.

Effect of Government Policies on Pricing Strategies

Effect of Government Policies on Pricing Strategies Long-Term Investment Decisions April Barnes Dr. Bernadette West Abstract In this paper I will outline a plan that managers in the low-calorie microwaveable food company could follow when selecting pricing strategies for making their products as inelastic as possible. I will then examine the major effects that government policies have on production and employment. I will predict the potential effects that government policies could have on the company. Afterwards, I will determine whether or not government regulation to ensure fairness in the low-calorie microwavable food industry is needed and cite the major reasons for government involvement in a market economy. After I will examine the major complexities that would arise under expansion via capital projects and propose key actions that the company could take in order to prevent or address these complexities. Lastly, I will suggest the substantive manner in which the company could create a convergence between the interests of stockholders and managers and indicate the most likely impact to profitability o f such a convergence. Outline a plan that managers in the low-calorie microwaveable food company could follow when selecting pricing strategies for making their products as inelastic as possible. Provide a rationale for your response. The price elasticity of demand affects a company’s pricing strategies by determining the optimal profit margin. Price elasticity of demand defines the degree of change of demand in relation to the change in price of a product. The higher the elasticity, the higher the demand fluctuates in response to price. In general, most companies would like for their products to be inelastic. When a product is inelastic, the price of the good may increase, while the supply and demand of the product are unaffected. In other words, if the price of a product were to go up, consumers would still buy the product, as well as if the product price were to go down, consumers would still buy the product (Investopedia Inelastic, 2014). When considering the inelasticity of a product it is important to select the proper pricing strategy. When it comes to selecting the best pricing strategy, it is best to first understand what consumers are willing to spend on a product. This can be done by conducting m arket research and surveys. Managers can also select the pricing strategy by making reasonable assumptions based on historic purchases and patterns. Then managers should consider the competition and the quality of their products. If the competitor sells a product with high quality at a certain price, it is not feasible to sell a similar product with lower quality at a higher price point. The managers should first plan to sell each unit or product at the lowest price possible while still being able to break even and pay for all of the company’s expenses. When it comes to price strategizing, there is no potential for price discrimination. Price discrimination occurs when a seller sells a product for the highest price the consumer is willing to pay for (Investopedia Price Discrimination, 2014). When it comes to a microwaveable food company, there is no reason to sell products at different prices for each customer as it is also illegal. Examine the major effects that government policies have on production and employment. Predict the potential effects that government policies could have on your company. Government regulations and policies can have a positive as well as a negative impact on production and employment. when imposed on businesses substantially increase production and operating costs of the business which could result in reduced operating and economic profit, earning per share, earning stream, dividend and eventually market equity value for shareholders. The United States regulatory stringency has contributed to loss of U.S. manufacturing firms’ competitiveness in the international markets. This loss of competitiveness is believed to be reflected in declining exports, increasing imports and a long-term movement of manufacturing capacity from United States to other countries. As mentioned, government policies can have a positive impact as well, for example; the food safety regulations. The food safety regulations are standards and procedures that companies must follow to maintain a safe and sanitary environment for employees as well as for the consumers who purchas e the products (Food Safety Program, 2014). Food safety consists of regulating prepping, handling, and storage of food in ways that prevent foodborne illness and other sicknesses. If these rules were not in place, companies would manage food in any way they please and could potentially get consumers sick and face numerous lawsuits. Determine whether or not government regulation to ensure fairness in the low-calorie microwavable food industry is needed. Cite the major reasons for government involvement in a market economy. Provide two (2) examples of government involvement in a similar market economy to support your response. Government regulation is needed to ensure fairness in the low-calorie microwavable food industry. Government involvement is needed in a market economy to maintain social efficiency and equity. Social efficiency is attained at the mark where the marginal benefits to consumers for either production or consumption are equivalent to the marginal costs of either consumption or production. Matters of equity are challenging to evaluate due to the subjective assessment of what is and isn’t a fair sharing of resources (Pearson Education, 2010). As similar to the automotive industry, the government regulates many aspects. The government regulates auto manufacturing, repair, maintenance, recycling, sales and dealerships. The government also has policies regarding environmental, safety, and import regulations and standards (SBA, 2014). Examine the major complexities that would arise under expansion via capital projects. Propose key actions that the company could take in order to prevent or address these complexities. Capital expansion is generally an investment in a major company that wishes to expand or restructure operations without losing control of the business. Some disadvantages that may be faced when undergoing capital expansion would be business owners potentially losing a percentage of the company, investors wanting to be a part of day to day discussions and decisions as well as company secrets revealed (G. Segal, 2013). In order to address these complexities, the company can set up regulations or contracts with the investors or equity partners stating the conditions and ownership of the company. Suggest the substantive manner in which the company could create a convergence between the interests of stockholders and managers. Indicate the most likely impact to profitability of such a convergence. Provide two (2) examples of instances that support your response. One recommendation would be that the stockholders become very careful and adamant about the company’s expenses and cash flow. By creating share owners out of management, executive management will take action in its greatest interest as a shareowner, in which will be of an advantage to all equity investors (M. Anson, 2004). Creating share owners out of management would likely survive a merger or capital expansion because this gives the opportunity for the owners and investors to work together and make decisions that are best for the company. References DOH (2014) â€Å"Food Safety Rules and Regulations† retrieved on March 8, 2014 from: http://www.doh.wa.gov/CommunityandEnvironment/Food/FoodWorkerandIndustry/FoodSafetyRules.aspx G. Segal (2013) â€Å"WHAT ARE THE PROS AND CONS OF USING EQUITY CAPITAL?† retrieved on March 8, 2014 from: http://chironthebusinessdoctor.com/the-pros-and-cons-of-using-equity-capital/ Investopedia (2014) â€Å"Inelastic† retrieved on March 8, 2014 from: http://www.investopedia.com/terms/e/inelastic.asp Investopedia (2014) â€Å"Price Discrimination† retrieved on March 8, 2014 from: http://www.investopedia.com/terms/p/price_discrimination.asp M. Anson (2004) â€Å"ALIGNING THE INTERESTS OF AGENTS AND OWNERS: AN EMPIRICAL EXAMINATION OF EXECUTIVE COMPENSATION† retrieved on March 8, 2014 from: http://iveybusinessjournal.com/topics/governance/aligning-the-interests-of-agents-and-owners-an-empirical-examination-of-executive-compensation#.Uxuyo_ldUuc Pearson Education (2010) â€Å"Reasons for Government Intervention in the Market† retrieved on March 8, 2014 from: http://wps.pearsoned.co.uk/ema_uk_he_sloman_econbus_3/18/4748/1215583.cw/ SBA (2014) â€Å"Automotive† retrieved on March 8, 2014 from: http://www.sba.gov/content/automotive 1

Rich Dad Essay -- essays research papers

A true tale of two dads, one dad is a highly educated professor, the other, an eighth grade dropout. The educated dad left his family with nothing, except a few unpaid bills. The dropout later became one of Hawaii’s richest men and left his son a fortune. The educated dad would say, â€Å"I can’t afford it† while the other, asked, â€Å"How can I afford it?† Rich dad teaches the boys priceless lessons on money, by making them learn through experience. The most important lesson he teaches is to free yourself from the â€Å"rat race† of life and learn to make money work for you, and not be its slave. He knew that financial literacy would help prepare the boys for their life. Though one must have a job, Rich Dad taught the boys to eventually use your day job to begin minding your own business. The first lesson the two boys learned was that the rich do not work for money. One should work to learn, not make money. At age 9, Robert Kiyosaki and his best friend Mike asked Mike’s father to teach them how to make money. After 3 weeks of dusting cans in one of Rich Dad’s convenience stores at 10 cents a week, Kiyosaki was ready to quit. Rich Dad pointed out this is exactly what his employees sounded like. Some people quit a job because it doesn’t pay well. Others see it as an opportunity to learn something new. Next Rich Dad put the two boys to work, this time for nothing. Doing this forced them to think up a source of income, a business scheme. The opportunity came to them upon noticing ...

explanation paper benchmark :: essays research papers

Explanation Paper (European Foods~ Impact of Exploration) For my benchmark, I chose to research and learn about the impact that exploration had on European foods. In my oral presentation, which I will give on March 21, 2002, I will explain certain characteristics before and after European exploration. I will speak about how the only spices that were ordinarily used in Europe in the beginning of the Renaissance were pepper and salt, while after Christopher Columbus explored the new world common spices also included ginger and cinnamon. In addition, I will refer to other ways that foods were flavored, for example by sugar which was extracted from sugar cane, and I will talk about how poultry and meat were common meals in Europe during the Renaissance, although for most people it was served in an old, decayed manner, as only privileged folk could afford fresh meat. In addition, I will talk about how only few, orchard grown fruits were known to Europeans before exploration, while afterwards, they had knowledge of pineapples, kiwi, blueberries, etc. During my presentation, I will also refer to my museum exhibit, which will include a timeline of important dates, quotes, facts, and a world map, and I will refer to a poster that I create, which will also include many interesting facts about the impact of exploration on European foods. The topic that I researched is an extremely important piece of history. Because of exploration, many common foods were discovered, such as coffee, peanuts, chocolate, red and green peppers, tomatoes, potatoes, and kiwi (Tannahill 241). Pineapple, which is another example of a common food today that was discovered during medieval times, was introduced to Christopher Columbus by the Carib Indians on his second voyage to the Caribbean region in November of 1493 (Levins 4). In addition, spices and sweeteners that were discovered during this time period have all helped widen the horizons of present day cuisine. For example, Christopher Columbus was introduced to cinnamon and ginger on one of his voyages to the New World. Both of these spices are commonly used today to greatly improve the taste of many foods. Also, vanilla was introduced to Europeans in 1529, syrup began being extracted from Maple trees, and sugar was put in gravy for an improved taste after people explored the world (Ushe rwood 26). Most of the spices, sweeteners, vegetables, fruits, and meat that were discovered during medieval times are all common foods today, in the twenty-first century.

Prejudice in Esperanza Rising by Pam Munoz Ryan :: essays research papers

Esperanza Rising Esperanza Rising, by Pam Munoz Ryan is a novel about prejudice. Prejudice is when a superior being looks down on colored, sex, lower classes or different races of people. There were many obstacles in this novel that dealt with racism and mistreatment with Mexicans. Mexican immigrants in the 1930's suffered greatly because of the prejudice in the hearts and minds of the farm owners, lawmakers, and the American people. Business owners were prejudice against Mexican migrant workers. Miguel was very capable of working as a mechanic at the train stations, but ?they will only hire Mexicans to lay tracks and dig ditches, not as mechanics.?(120) Prejudice was also shown when the farm owners said, ?The Mexicans can only swim on Friday afternoons, before they clean the pool on Saturday mornings.?(218) Business owners were very unfair and prejudice to the Mexicans, they treated them like lower class citizens. The laws and government didn?t treat the Mexicans as Americans. Some of the Mexicans that were citizens were protesting for better pay, but immigration officials came to the fields to send them back to Mexico. ?! Americana! ! Americana!? ?yelled one woman and she began to unfold some papers.?(206) The guard ripped the papers up, he didn?t even give her a chance because she was causing problems for the government. Prejudice was shown in the laws in Mexico against women. ?As you know, it is not customary to leave land to women and since Luis was the banker on the loan, Sixto left the land to him.?(30) It was very prejudice that women couldn?t own land and it was sexist. Americans were not their cover page, free and equal, they treated Mexicans as dirty lower class citizens. Isabel?s teacher didn?t choose Queen of the May by the best grades, she chose a pretty blonde American with blue eyes. ?I did not win Queen of May!?(226) Isabel had the best grades, but her teacher was prejudice against Mexicans. Mexicans went out of their way to go to Mr. Yakota?s store because, ?At this market, no one stares at us or treats us like outsiders or calls us ?dirty greasers?.?(187-188) Americans didn?t treat Mexicans like people, they were unfair. I believe prejudice is still going on today in America and all over the world. Some women are owned by men and have to cover all over their skin completely.

Dispersion and Its Types in Fiber Optics

Dispersion: The speed of light is slower in various materials than it is in a vacuum or outer space. When the light passes into a material at an angle, the light beam is bent or refracted according to Snell’s Law and the index of refraction of the material. But also, the speed of light through a material varies slightly with the wavelength or frequency of the light. Thus, each wavelength is refracted at a slightly different angle when passing through a material at an angle. This spreading out of beam of light is called dispersion. Types of Dispersions and ways to reduce: Chromatic Dispersion: Chromatic dispersion results from the spectral width of the emitter. It is a term used to describe the spreading of a light pulse as it travels down a fiber when light pulses launched close together(high data rates) spread too much and result in errors and a loss of information. The spectral width determines the number of different wavelengths that are emitted from LED or laser. One way to reduce chromatic dispersion is to narrow the spectral width of the transmitter. Chromatic dispersion can be compensated for with the use of dispersion-shifted fiber (DSF). Laser has a more narrow spectral width than LEDs. A monochromatic laser emits only one wavelength and therefore, does not contribute to chromatic dispersion. Modal Dispersion: Modal dispersion deals with the path (mode) of each light ray. Most transmitters emit many different modes. Lower order modes travel a shorter distance. Some of these light rays will travel parallel to the center of the fiber while repeatedly bounce off the cladding/core boundary to high order modes their way the waveguide. The modes that enter at sharp angles are called high-order mode, which having direction towards cladding. These modes take longer path to travel through the fiber than the low-order modes and therefore it cusses of modal dispersion. One way to reduce modal dispersion is to use graded-index fiber. The graded-index fiber’s cladding is doped so that the refractive index gradually decreases over many layers. Graded Index Fiber has a different core structure from single mode and multimode step index fibers. In Graded index fiber the value of the refractive index changes from the centre of the core. With a graded-index fiber, the light follows a more curved path. The high-order modes spend most of the time traveling in the lower-index cladding layers near the outside of the fiber. These lower index core layers allow the light to travel faster than in the higher index center layers. Modal dispersion can be completely eliminated by using a single-mode fiber. Single mode fiber transmits only one mode of light so there is no spearding of the signal due to modal dispersion. Material Dispersion: Material dispersion is the phenomenon whereby material causes a bundle of light to spread out as it propagates. We know that a laser pulse contains a continuum of wavelengths in a small range. The index of refraction of a material is dependent on the wavelength, so each frequency component actually travels at a slightly different speed. Material dispersion contributes to group delay, along with waveguide delay distortion, differential mode delay and multimode group delay spread.

Perspective-taking Essay

John, 12 years old, sits anxiously on his desk, waiting for Ms Terror to hand him the result of his math test. With hands in fervent prayer, he closes his eyes as Ms Terror lays the test paper on his table. A big red â€Å"F† screams to him the moment he opened his eyes. He has expected that grade because instead of reviewing for the test, he spent the night playing internet games with Aaron. His dilemma – how can he get a good grade in next Friday’s exam when Aaron is inviting him to play again? According to Magnus Linklater (2007), peer groups are a child’s biggest influencers. This is undeniable as children believe their peers are the only ones who can understand them. But adults should not underestimate their problem solving abilities as they have a unique way of getting things done and answering their personal needs. Looking into Piaget’s cognitive development, we see that John has just entered the formal operational stage, wherein he develops â€Å"the ability to think about abstract concepts† and discovers â€Å"skills such as logical thought, deductive reasoning, and systematic planning† (Van Wagner, 2007). With logic, John chooses to study not only for his coming math test but also for all his other tests and sets aside internet games until weekend. He knows that doing so, he will get more than just a passing grade, and thus no more terror looks from Ms Terror as well as unsolicited talks with Mom and Dad. Moreover, thinking abstractly, instead of relying on past experiences, John considers the possible consequences of agreeing to Aaron’s invitation. He would be reprimanded by Ms Terror or worse, she would call the attention of his parents. In addition, John chooses not to rely on trial-and-error methods of doing things, as he did when he was younger or in earlier stages of Piaget’s cognitive development (Van Wagner, 2007). He now has the ability to solve his dilemma in a systematic manner, thus he quickly comes up with a plan for him not to get another dreaded â€Å"F. † He reads his lessons few days before the test so he can play games with Aaron in his free time or review his lesson the night before the test and just play on weekends, whichever way he is comfortable with. But John’s interaction with his peers, Aaron in particular, should not be discouraged, as Piaget pointed out that a child’s peer interaction is not just a major source of his or her cognitive development but his or her social development as well, specifically in â€Å"role-taking and empathy† (cited in Oden, 1987). John regards Aaron as his best friend, thus sustaining their friendship allows John to know his own self and his â€Å"range of social interaction skills. Furthermore, since the two boys have passed the stage wherein they share just â€Å"physical activities† like childhood games, and they are now capable of â€Å"sharing materials, being kind or helpful† (Oden, 1987), and perceiving their friendship as supporting individuality and mutuality, John either invites Aaron to review their lessons together before playing games or asks Aaron to postpone their leisure activity until the test is done so that each can review on his own and eventua lly perform better in the test. The theory of moral development by psychologist Kohlberg, who drew inspiration from Piaget’s cognitive development, can also help answer John’s dilemma. John takes into consideration the expectations of his family, as he tries to maintain, support, and justify that studying hard for the test is the right thing to do, in accordance to the conventional level of Kohlberg’s theory. Specifically, he resorts to being a â€Å"good boy† by reviewing for the test because he knows that doing so will please Ms Terror and Mom and Dad. John’s behavior is judged by his intention, which is both good and important since â€Å"he means well† (Kohlberg, 1971) for himself, for Ms Terror, for Mom and Dad, and even for society at large. John could solve his dilemma in various perspectives, which directly or indirectly take its root from Piaget’s cognitive theory. This only shows that students like John can solve their own dilemmas in their own respective ways. It is normal for them to falter and make mistakes because through these, they get to learn, grow, and develop. Now, John sits comfortably on his desk, excited to see his grade on the math test. â€Å"B† it reads.

Kozol’s Savage Inequalities

Jonathan Kozol was born in 1936 in Massachusetts.   Throughout his life, he has been extremely active in public issues.   He spent several teaching in public schools, fighting against the inequalities there, but also fighting for the civil rights movement and equality for all, despite race or ethnicity.   Most of the schools Kozol taught at were inner-city schools, similar to the ones he writes about in his book (www.wikipedia.com).Kozol’s purpose in writing the book was to expose the vast inequalities that are present in today’s schools.   He provided a snapshot of many different ways schools are unequal: funding, teacher quality, school environment, materials, and more.   He profiled several different schools, in particular, inner-city Chicago schools and suburban Chicago schools (New Trier), to show the vast differences in every aspect of these schools, and the effects that these differences had on the students.Kozol also intended to show the multitude of d ifferent issues that went into creating the problem, such as lack of funding, lack of materials, lack of quality teacher, political laziness or outright disdain (towards inner-city schools), parent misinformation (or lack of information), lack of parental education and knowledge about the system, and more.   These differences all account for why the schools are so vastly different; money is not the only problem and simple solution.Kozol accomplished his purpose.   As one is reading the book, one is filled with shock, horror, and indignation at the vast inequities that exist in the schools.   One particularly telling section is his illustration of the kindergarten students, who Kozol describes as bright and eager to learn, even in the inner-city.   However, these kids – who have every ability to learn – are given few materials and poor teachers, and they fail to thrive.This failure, he explains, results from the education system failing them, and not from their own lack of anything.   He clearly illustrates the unfairness of the school system, and proposes some interesting solutions.   In the kindergarten class in one of Kozol’s examples, there are no pictures on the wall, there are ancient textbooks, there are few toys to play with, and there is a teacher who is almost too tired to care.   The teacher knows that whatever happens, many of these students will drop out of high school, and many of those will land in jail.   The teacher does not believe that she can make a difference, even though at this age, with the students eager and primarily well-behaved, she could.The purpose was well accomplished because of Kozol’s many examples.   The way he used the case studies was especially interesting.   In the case of New Trier, the parents were unwilling to tax themselves at a high rate, but their income and property values were so high that they will had plenty of money.   Therefore, the school had excellent class of ferings, facilities, teachers, and students.   In poorer districts, like Lawndale, parents taxed themselves as much as they could, and they still couldn’t afford to have good school buildings, new materials, and good teachers.   This difference in personality and attitude of the people in the district further illustrates Kozol’s point.In addition, Kozol highlights the sheer environment differences in the schools.   In the suburban districts, teachers come in everyday, on time – or they are subject to discipline or being fired.   He quotes one principal in an inner-city school as saying â€Å"I take everything that comes through the door,† which means that teachers who are absent more often than not, or who show up a couple hours late everyday still have jobs.   These environments portray a complete lack of caring on the part of the teachers.This is at least in part because the teachers truly believe they cannot make a difference.   Many know t hat most of the students will drop out of school and end up in prison, illiterate, and with no job or a poor job.   Some teachers even see this effect as positive, stating that the kids who really care remain in school until graduation.   However, this is a terrible way to think about students, and only perpetuates the situation.Also, the suburban schools tend to be newer, brightly lit, with plenty of classrooms and bathrooms and decorations.   The urban schools are lucky to have one working bathroom that isn’t clean, dark windows, and a building that is falling apart around them.   In some cases, urban schools have extremely overcrowded classrooms, no working bathrooms, no libraries, no computers, no decorations, and are extremely depressing.   Students begin skipping school at a young age merely to avoid these circumstances.Kozol also discusses the attitudes of the law makers.   Many refuse to spend more money on these failing schools because it would, in their estimation, be like â€Å"pouring money into a black hole.† In other words, useless.   This goes to show that government officials are not doing anything to solve the problem; in fact, they often are the problem, by refusing to believe that anything could change.   Their lackadaisical attitude needs to turn around; rather than rewarding the students who are already succeeding, they should attempt to help the students who struggle, who will only turn around if the law makers choose to do their job and advocate for all students.The section on Corla Hawkins’s class was particular interesting.   In it, Kozol illustrates one of the â€Å"bright spots† in otherwise terrible inner-city schools.   Ms. Hawkins is a unique teacher who cares about her students, who makes sure they come to school, who forces them to respect her and each other.   She spends a lot of her own money on supplies for the classroom, including a set of encyclopedias.   She assigns homew ork everyday in order to promote responsibility.She sits the students in â€Å"teams† at groups of desks, and has them teach each other the lessons.   Her emphasis means that students in her class succeed much more than the average student in the school.   Ms. Hawkins also teaches the students important social skills.   She doesn’t give grades at all in the first quarter; she gives team grades in the second; she gives pair grades in the third; she gives individual grades in the fourth.   In this way, she teaches the kids to learn before being competitive about grades, and then to help one another and cooperate more than compete.   Later, she teaches the students to look out for themselves.One of the unfortunate problems with this is that these students will have one year of excellent teaching, and then will go back to the â€Å"typical† way that things are in inner-city schools, meaning that their chances of success are still fairly low overall.   It also gives the students as taste of what could have been, which means that overall, one good teacher doesn’t change anything.The best solution is to correct the problem by changing the way the schools are financed.   Instead of refusing to put money into the schools, politicians should be eager to put more money into them, enough to build new buildings (or improve the current ones) and to hire truly qualified teachers.   If that occurs, change will begin at the bottom levels, as students come in and find teachers with higher expectations, and materials to support learning.   People need to stop being completely hopeless about these schools and these students and start giving them what they need.   Without the proper materials and quality teachers, there is no way that students will care, or learn.In some states, school funding is done in an unconstitutional way.   In fact, in most states, schools are funded at least in part by property taxes.   This offers an imm ediate inequity, since poorer areas, like inner-city areas, will automatically have lower property values, and therefore, less money for schools.   A new funding plan that distributes money more equally, or based on need, is in order.   A suburban school with already current materials, computers, and new buildings does not need as much money as an inner-city school with old materials, no technology, and a crumbling building.Currently, the thinking in education is to give money to the students and districts who are already winners.   Money is allotted as a prize for success.   This value needs to change, so that money is given based on need, because the value is success and opportunity for everyone, not just for the privileged few.Reading this book changes one’s view on the way schools are handled in this country.   It seems perfectly fair to grow up in a privileged district, and to go into education as someone who wants to continue that tradition of excellence.   However, confronting the problems that face many schools today shows that education is not perfect, and not every school or student is nearly as lucky as some.This new realization will change the way a person looks at being an administrator.   Perhaps, instead of fighting for every dollar for a particular school’s excellent AP program, one would choose to distribute that money to districts who do not have things they need.   Or, instead of purchasing new textbooks frequently and getting rid of the old ones, one might choose to buy new textbooks for another school, or to donate older (but still fairly recent) ones to a school in need.Also, when it comes to making policies, one might choose to consider what is best for all students, rather than only a small group.   Many of the students in a poorer district do not have anyone to advocate for them.   Their teachers and politicians mostly will not, and their parents may not know how to.   Some people in their district, and some of the students themselves, may not even speak English.   An administrator from any district may be able to stand up and fight for them.   If enough administrators begin to value equality in education (and separate is not equal, whether it is separated by race or social class), changes will begin to occur.This book is a very eye-opening look at the reality of schools today.   It is an important thing to realize – not all schools are equal.   Many students are suffering because of the lack of opportunity their schools provide, ultimately setting them up for near certain failure.   The only way this will change is if educators stand up and fight for change, and an educator who has not learned about these inequalities will not be able to stand up and fight.   Every educator should know what is really going on.This book comes highly recommended.   Kozol goes into the schools and paints vivid pictures of what the schools are actually like.   He’s no t writing from a high horse or a strictly academic perspective.   He is showing what the day to day realities are for so many students.   He is high-lighting the problems in a completely real-world way.   Kozol’s book is an important one in the field, and one that everyone should read.BibliographyKozol, Jonathan.   Savage Inequalities.Jonathan Kozol.   Wikipedia, the online encyclopedia.   Accessed November 10, 2006.   Website: http://en.wikipedia.org/wiki/Jonathan_Kozol.