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Friday, May 31, 2019

To Age or not to Age :: Essays

To Age or not to Age(1) In Dr. Heideggers Experiment, Nathaniel Hawthorne expresses Diction that if presumption the chance to regain your youth, some would not have learned from their past mistakes, to change the way would live their life again. In Dr Heideggers Experiment Hawthorne uses his characters to drag how life experiences should have an impression in our lives. (2) Dr Heidegger was an old scientist, who has a very strange way of presenting himself. He works by himself in his study. Which many let on to be a very curious place.(Pg. 578) Frag -1 In his study there is a picture of a women Hostage 50 who once was his lover. She was going to be the one that he was going to marry, but she had been affected with a disorder and had taken some of the pills he prescribed and died. She had swallowed one of her lovers prescriptions and died on the bridal evening.(Pg. 579) It is ideal that Dr. Heidegger might have had something to do with her death, but it was unknown. The greatest curiosity of the study remains to be mentioned.(Pg. 579) Why was this uotation included? The doctor had an experiment that would turn back the workforce of time, but he would not have any part of it, he just wanted to observe. How is this paragraph related to the thesis? (3) Dr. Heidegger called on four of his friends to facilitate him with his experiment. This topic sentence suggests a plot summary. Mr. Medbourne who was a prosperous merchant in his early day (Pg. 579), Colonel Killigrew wasted his years on sinful pleasures (Pg. 579), Mr. Guscoigne was a ruined politician (Pg. 579), and Widow Wycherly was a beauty in her younger day, but had been isolated from society (Pg. 579). All of the friends had lived a life of relationships with all triplet men, homosexual? which almost caused them to kill each other over her, had once been on the point of cutting each others throats for her sake.(Pg. 579) This quotation is inaccurate. This is what caused for her t o be an outcast with the town. scandalous stories which had discriminatory the gentry of the town against her.(Pg. 579) Frag - 1 When asked to participate in the experiment, they were all a little skeptical.

Thursday, May 30, 2019

Essay --

Desertification is an increasing global issue that has caused many concerns throughout the introduction. Desertification affects mostly Africa however it has (and still is) taking its toll on the Arabian Peninsula, Confederate Asia, Australia, southern South America, and the southwest region of the North American continent (Desertification, 2013). According to Desertification A Forgotten Threat, every year, some 23,000 square miles of cultivatable and range land are uncontrollably lost to relinquish, leaving an exceeding amount of consequences for the entire globe to face. As alarming as this accompaniment is, it is of the essence(predicate) to understand the negative effects that desertification exerts on these affected areas, exactly what this problem is, what it is doing, why its happening, why it is important, and what global communities, as well as world leaders can do to prevent it from spiraling out of control in the future. This paper will focus on the physical and ef ficient hardships cod to desertification, the causes of it, the necessary measures that should be taken to prevent it, as well as the importance of spreading global awareness regarding this topic. According to a statement make by UNEP (United Nations Environment Program) on December 10, 1993, Desertification is nonpareil of the most serious global environmental problems (Desertification Not About, 1994). When discussing the topic of desertification, two common questions are, What is desertification exactly, and how is it possible for the desert to advance? Desertification is a term that describes the loss of productive land to desert (Desertification, 2013). Its a common, innocent public misconception that the desert is advancing however, this in fact is not the case. When an area u... ...ined areas. Strongly supported by the UN Development Programs Office to Combat Desertification and Drought, the CCD is the first treaty to demand full society by local populations. This way, countries can learn from each other, passing on scientific and technical knowledge (Desertification A Forgotten Threat, 1999). As one can see, desertification is a serious matter at hand. Creating laws and setting limits to farmers can slow the desertification process slowed down. Actions need to be taken now in hunting lodge to save the precious land. If nothing is done, the future of important nations will be dark as they are forced to face a myriad of economical and biological hardships. Additionally, there could very well be wars over land and water, causing the affected country to sink deeper and deeper into a viscous pit collectable to the malicious cycle of desertification.

Wednesday, May 29, 2019

Star Wars :: Essays Papers

Star WarsStar Wars is a science fiction adventure novel. The symbolism and characterization was really excellent in the story. The story gives a great look into the future as it has many different types of things we have not yet invented blaster rifles, space ships that go the speed of light, fat revealsider slugs, and beam swords. The plot of the story sucks you into the novel and makes you want to continue reading the novel.The plot of the story mainly reflects on a young boy, Luke Skywalker. Luke was raised on his Uncles moisture farm on the planet Tatooine. He meets up with Obi-Wan Kenobi by following a droid, R2-D2, he had purchased through a small natives of Tatooine known as Jawas. R2-D2 believes he is the property of Obi-Wan and decides to search for its master. Luke is attacked by another group of natives, Tusken Raiders also known as sand people. Obi-Wan comes and saves Luke from the sand people and take him back to his home. Obi-Wan tells Luke a little ab give away his f ather. He tells Luke that his father was his apprentice in learning the ways of the Force. Obi-Wan gives Luke his fathers old light saber and Obi-Wan remembers something inside R2-D2. It is a heart and soul from Princess Leia. She sent the two droids, R2-D2 and C3-PO, to send this message to Obi-Wan. Luke and Obi-Wan head back to Lukes house and find a Sandcrawler, a vehicle the Jawas travel in, destroyed. Luke thinks that some Tusken Raiders did this, but Obi-Wan points out that Imperial Storm Troopers have attacked the Jawas. Luke then finds out that his uncle and aunt are dead. He then decides to train to be a Jedi Knight. They head to a Mos Eisley, a spaceport to search for a pilot to get them to the planet Alderaan. Obi-Wan and Luke meet up with a smuggler named Han Solo and his co-pilot, Chewbacca the Wookie also known as Chewie. They make a deal for Han to take the two humans and the two droids to Alderaan. While preparing the ship Han runs into a crime lord, Jabba the Hutt. Jabba was mad at Han for dropping off his shipments and running with out paying him. Han promises Jabba he will have his money soon and a little more. As they start boarding the ship some Storm Troopers find them and started attacking.

Definition Essay - Does Art Defy Definition :: Expository Definition Essays

Definition Essay - Does fraud Defy Definition?According to Websters Dictionary, art is human face of objects by painting, etc (10). The words human experience adds meaning to art. Artists reveal their inner thoughts and feelings through their work. When we study a painting by Salvador Dali, the strange objects and the surrealist background portrays the eccentricity of the painter. some(a) ideas cannot be explained verbally. They can only be shown via a medium. We can get across what is in our minds or our perk upts by a stroke of a brush, a drop of paint, a row of words, or something else. But to express ourselves, we do not need to limit what we call art. We encounter art everyday. Art is paintings and sculptures, music and dance, film and photography. It is also fashion designing and architecture, novels and magazines. These seemingly different things accommodate integrity thing in common they are all ship canal in which humans convey themselves. For thousands of years, humans have used symbols to tell a story or describe a struggle. Art is the use of these symbols, symbols that introduce us in some obvious way. Unlike science, art is subjective. The artist leaves behind a part of himself in his work. Therefore, each piece has its own distinct perspective. Frida Kahlos self-portraits show her view on her life, on how she has faced so many struggles, yet managed to be a strong person. When we see or hear or read an artistic creation, it produces a mood such as calm or loud, fear or safety. For example, the Eiffel Tower gives Paris a olympian awe everyone who passes by feels the strength of the 113-year-old grand structure. Art also has a texture. Photographs reveal much through their textures grainy surfaces often make the picture more(prenominal) realistic while smooth ones seem softer. When we hear a piece of music or see a film, a rhythm carries us from one part to another. Not just true for these two genres, rhythm is pres ent in any artistic work. These few properties are characteristic of everything we encounter in the world of art, the world of human expression. Most have other special features also. Most of the time, though, we do not think about these characteristics because we do not have enough time to pay attention to anything for more than a few seconds.

Tuesday, May 28, 2019

Langston Hughes Uses Poetry as a Tool for Self Discovery :: Biography Biographies Essays

Langston Hughes Uses Poetry as a Tool for Self breakthrough When Langston Hughes was given this assignment by his college professor, he used it at a self discovery tool. I think this poem is merely letting him take away into himself to find turn up who he really is, and what his role is in society. Go home and write a page tonight. And let that page come out of you-- Then, it will be true. We could all take advice from this teacher. I dont think that the professors words are to be taken very literally, as I know slightly of the other close readings will discuss. I think that the reason this assignment was given was to allow the students, or Hughes himself, to recognize some of the things to the highest degree himself that he had neer known or faced before. Sometimes when we write for someone else or for a specific class, we focus solely on what we are writing about and we tend to block off any part of ourselves that would escape onto the pages. In contrast, when we write in a journal, or freewrite, we tend to let all of our emotions out, and it is a way for some of us to deal with issues that are facing us, on a day to day basis. This is a way to get to know yourself better, and a way to deal with anger and unsettled emotions. Basically, I think the teacher wanted this assignment to be simple. He or she merely wanted the nigh assignment to be more personal, which Hughes took to that level if not beyond what was expected. From this poem I think we learn a lot about Hughes as a person, compared to some of his other works. Many of his other poems generalize the black man as an entire society, and in this poem we see the black man as Hughes himself, which to me, was very interesting. He lets us take a closer look into his life, and we are able to understand more of his heritage, and the things that inspire him, as a person, and as a writer. For example, in the very first stanza of the poem, he explains to us where he was born, where he was raised, and wher e he lives now, which is very important in understanding where someone gets their beliefs.

Langston Hughes Uses Poetry as a Tool for Self Discovery :: Biography Biographies Essays

Langston Hughes Uses Poetry as a Tool for Self Disco very(prenominal) When Langston Hughes was condition this grant by his college professor, he used it at a self discovery tool. I think this poem is merely letting him dig into himself to realize out who he really is, and what his role is in society. Go home and write a page tonight. And let that page come out of you-- Then, it go forth be true. We could all take advice from this teacher. I dont think that the professors words are to be taken very literally, as I know slightly of the different close readings will discuss. I think that the reason this assignment was given was to allow the students, or Hughes himself, to recognize some of the things about himself that he had never cognise or faced before. Sometimes when we write for someone else or for a specific class, we focus solely on what we are writing about and we dispose to block off any part of ourselves that would escape onto the pages. In contrast, when we write in a journal, or freewrite, we tend to let all of our emotions out, and it is a delegacy for some of us to deal with issues that are facing us, on a day to day basis. This is a government agency to get to know yourself better, and a way to deal with anger and unsettled emotions. Basically, I think the teacher wanted this assignment to be simple. He or she merely wanted the next assignment to be more personal, which Hughes took to that level if not beyond what was expected. From this poem I think we learn a lot about Hughes as a person, compared to some of his other works. Many of his other poems generalize the black man as an entire society, and in this poem we see the black man as Hughes himself, which to me, was very interesting. He lets us take a closer look into his life, and we are able to understand more of his heritage, and the things that inspire him, as a person, and as a writer. For example, in the very first stanza of the poem, he explains to us where he was born, where he was raised, and where he lives now, which is very important in understanding where someone gets their beliefs.

Monday, May 27, 2019

Resesarch

CASE Ameri so-and-so Barrick Resources Corporation Managing Gold Price Risk 1. In the absence of a hedging program employ financial instruments, how sensitive would Barrick personal line of credit be to atomic number 79 value changes? For every 1% change in currency harms, how might its persuade be affected? How could the firm govern its atomic number 79 charge exposure without the use of financial contracts? Particulars for yr 1992($ million) Pretax earnings (Exhibit 2) 223 Reductions in earning of property interchange at contend (1280mn oz x (422-345) (Exhibit 12) (99) Proforma Pretax Earnings 124Taxes 21% (Exhibit 2) (26) After Tax Earnings 98 Thus in absence of endangerment management program the American Barrick stock would be more sensitive to gold price changes. This could also be observed from Exhibit 4 where the return on Barricks stock is continuously increasing as comp bed to other unstable major stocks in gold mine sector. Elasticity of Earnings & Prof it for 1% change in Gold Price 1% change in gold price ($345) $3. 45 Number of ounces $1,280m Additional pre-tax lucres $4. 4m Additional after-tax profits $4. 4 x (1-. 1) = $3. 5mn Additional profits as % of earnings 3. 5/98 = 3. 5% (approx) Cash Flow = Earnings + Non capital charges 98mn + 69mn = $167mn Additional profits as % of cash be given 3. 5/167 = 2. 1% Thus with 1% change in gold price the earnings of Barrick would change by 3. 5%. The firm can manage its gold price exposure in following three ways 1. Diversifying its business 2. Hedging against the gold price chance 3. Insuring against the gold price risk Hedging involves entering into financial contracts and so does insuring against the gold price risk.Thus without being involved in any financial contracts Barrick can reduce its gold price exposure only by diversifying its business. 2. What is the verbalize intent of ABXs hedging program? What should be the goal of a gold exploits price risk management program? Stat ed intent American Barrick Resources Corporation is one the most financially successful gold-mining concerns in the world. The main stated intent of ABXs hedging program was to profit handsomely even during a downtime, when gold prices atomic number 18 falling.The hedging position had allowed ABX to sell its commodity labor at prices well above market rates. The main motive of the hedging program was to profit and gain an advantage over its competitors by hedging, at a time when the prices of gold were low and also interest rates were falling. Thus, the main intent of the hedging program was to position the organization as a low- embody commodity producer, willing to sacrifice potential profits from gold price peaks in order to level out potential losses in the future. destruction of a gold mines price risk management programThe primary goal of a gold mines risk management program is to hedge the risk of falling gold prices and low interest rates, to ensure the minimum sale pri ce of gold even when prices atomic number 18 declining. One of the main goal is to achieve financial stability. The risk management programs motive is to hedge risk in order to plan the future cash flows with certainty. Also, at a time, when an organization has immense production initially itself, the risk management program enables the firm to earn a predictable, move earnings visibleness in the future inspite of rising production.Thus , the intent of the risk management program is to hedge the risk in such a manner, that its production decisions are not affected by the market price of gold. 3. What would convince you that a price risk management program created value for its stockholders ex ante? The American Barrick Resources Corporation, had since its inception a strategy of efficient risk management system to protect or hedge itself from the vacillations in the Gold prices. The various risk management system coupled with favourable circumstances and opportunities of price l ocking, rendered an overall strong balance sheet for American Barrick.They were able to attract investors who shied away from gold mine investments due to price risk, due to the efficiency in hedging mechanism. In 1992, American Barrick produced and sold over 1. 28 Million Ounces of gold at a price of $422 instead of $345 market rate, as a result of the risk management program. Such expediencys would lead to higher revenues, and thus higher profits and in turn render higher value for the shareholders. The organisation guidelines clearly specifed that the risk managemnt system should be such that they are fully protected against price declines for 3yrs and 20-25% for a decade.Thus such a mechanism helped create value for the shareholders as the profits of a Gold mine are dependent on fluctuation in gold prices and the difference between revenue and costs. Thus locking future prices, provided financial stability, enabling the organisation to avoids dips, and plan cash flows in a conf ident way, and in combination with the rising production, offered investors and shareholders a predictable , rising earnings profile in the future 1. How would you characterize the evolution of Barricks price risk management activities?Are they consistent with the stated policy goals? As a producer of commodity products, gold mining firms had virtually no marketing or distribution costs. There was always a ready market for their products, at market prices, once extracted from the earth & refined. Therefore a gold mines profits were a function of the quantity of its production & the difference between the prices at which it sold its output & its costs. To minimize the price risk, hedging is necessary. organism conservative in nature, company has maintained lower leverage.As per stated policy goals of company, Gold Hedging program gives American Barrick extraordinary financial stability. It protects shareholders wealth from the dip in gold prices. American Barricks hedging program ev olved over history and utilise a wide dictate of tools to manage gold price risk. With gold financing, forward sales, options strategies & spot deferred contracts, company shed some of its price risk while maintaining flexibility to profit from rising gold prices. a. Gold Financing In early days, Companys gold price management activities were incorporated in financing for its mines.Company do its growth organically as well as inorganically. Almost every year, company madeacquisition of 1 gold mine company. For financing such acquisition, company used following tools Gold Trust Paying specific percentage of gold production as return to investors Bullion Loan Bank gives loan in gold form, company need to pay interest in gold terms only. Collateral is reserves company owns Limitations Limited scope. b. Forward Sales production at Gold mine is exceedingly inelastic in nature. ie Its not easy for the company to change the production in tune with the highly fluctuating demand, market prices.To avoid price risk, American Barricks used Forward Sales as tool by which company can lock in prices for future dates. Forward Sales are usually for carnal knowledgely short spoken language periods of under a few years. Normally forward sellers receive a premium (approx. 5%)above the new gold prices ensuring a guaranteed return of 5% for forward sellers. Limitations Forward sale mitigates downside risk but also its ability to benefit if price rose. c. Options & Warrants Hedging using Forward sales eliminated downside risk for the American Barricks but also its ability to benefit if price rose.To resolve this issue, from 1987 company started using Options and warrants. This allows company to hedge from downside risk and retain some benefits of rising prices. Board of American Barricks were ready to use options but in costless manner. Collars strategy at the same time buying Put Option & writing Call Options on gold. Premiums and maturity of both call and put option is ma intained same. This strategy ensured a price range for the gold in future giving opportunity to the company to get benefits from rising gold prices as well as downside protection if price dips.Limitation Market for such options were liquid only for contracts with maturities under 2 years. This horizon was far shorter than 20 years of expected production currently in reserve. d. Spot Deferred Contracts This tool gives additional feature to standard forward sale. In forward sale, the legal transfer date is fixed. In SDC there are multiple delivery dates. Seller chooses at which date he will pay gold. Forward price is decided at each roll over date depending upon current market price plus prevailing contango premium. ( SDC will be explained in detail in Q6. )So during 10 years, American Barricks moved solely from acquire gold financing, lock in future prices to getting strategic benefit due to inherent strengths of American Barricks over competitors using tools like Spot Deferred Con tracts. 5. How should a gold mine which wants to moderate its gold price risk compare hedging strategies (using futures, forwards, gold loans, or spot deferred contracts) with insurance strategies (using options)? On what basis should these decisions be made? Once a firm has decided on either a hedging or an insurance strategy, how should it choose from among specific alternatives?One can characterize risk management strategies as either analog, hedging strategies (which eliminate all exposure to price fluctuations) or nonlinear, insurance strategies (which protect firms against falling gold prices only. ) Choices among instruments are determined by their relative costs (including transaction costs), interim liquidity requirements, accounting and tax implications, and the ability to customize the contract terms. For example, gold mining firms tend to use forward sales instead of futures contracts, at least in part to avoid the cash margin calls which futures transactions might enta il.As another example, mining firms preferences for spot deferred contracts over them functionally equivalent strategy of rolling forward contracts seems to be related to their relatively attractive accounting treatment. Distinguishing linear and nonlinear strategies becomes more difficult with dynamic trading. Suppose we observe a firm only selling gold forward. By a static measure, we would reason that it was hedging. However, as is well known, through dynamic replication, a trader can create a put option by adjusting the amount of gold sold forward.Specifically, as the gold price falls, a dynamic replication strategy would have the firm short-sell more gold. Thus, distinguishing hedging from insurance strategies requires an analysis of the changes in a firms equivalent short position (or delta-percentage) relative to changes in the price of gold. The sensitivity of cash flows and investment costs relative to changes in the underlying macro-variable are equal. If the sensitivitie s are equal, linear or hedging strategies will be optimal, otherwise firms would prefer to use non linear or option strategies.It is not apparent how to measure the floor to which mines face quantity risk. Firms facing borrowing constraints and that facing higher price risk might be more active users of options. Borrowing constraints might be more severe among firms with high operating costs, small market values, or small reserves bankers might be reluctant to lend to high-cost producers that may be forced to shut-in production and to smaller firms with less collateral. It is reasonable to suspect that price risk might be more pronounced among mines with higher production costs.Firms with higher cash costs and those with smaller market values and reserves might be more likely to use options or price-contingent nonlinear strategies. 6. What is a spot deferred contract? Why has ABX chosen to rely on spot deferred contracts relative to other gold derivatives? Spot deferred Contract ( SDC) is used by gold producers to hedge gold price exposure. It is a type of forward contract which has multiple delivery dates with the final one being 5 or 10 years after the initiation of the contract.The seller of SDC has the right to choose on which of the rollover date he will deliver the gold and can defer the delivery date till the end of the contract. Therefore spot deferred contract gives the right to the seller to choose the delivery date but has to deliver the quantity of gold specified in the contract. American Barrick entered into SDC with 1-year delivery or rollover dates where prices were set only for the first rollover date. On the rollover date, American Barrick could deliver the contract if forward prices were higher than spot prices or could roll the contract for the next period and sell the gold in the spot market.American Barrick chose to rely more on spot deferred contracts relative to other gold derivatives because of the following reasons 1) Initially Americ an Barrick entered into contracts for delivery within 3 to 4 years. Later on its bargaining power increased because of its outsize reserve base and strong financial position which made them negotiate agreements giving them 10 years within which to make delivery. 2) SDC was a way to profit from increase in price of gold yet set a minimum price on its sales of gold.

Sunday, May 26, 2019

Dba Financial Management Essay

1. What is Annuity kind of specie pay heed? coiffe Annuity is fixed sum of chapiter paid every year in at either other fixed interval shorter than a year. This rente may be by port of return of some principal plus interest payment of against money invested or by way of payment of other dues such as pensions aft(prenominal) retirement. In any case it re dumbfounds out flow of cash from one account to in flow of cash to another account. In this way each annuities involve movements of cash or funds. Therefore solely annuities argon cash flows that can be suitably represented in cash flow statements.An annuity will be represented as inflow of cash in the cash flow statement for the recipient of the annuity and out flow of cash in the cash flow statement of the person or firm paying out the annuity.2. What do understand by Portfolio happen?Answer In business and finance the term portfolio refers to the collectingof various coronation of an individual or a firm in various bond s, stocks or other securities and instruments. Portfolio assay is refers to the extent of risk or possible variation associated regarding the make sense of return the individual or the firm is likely to earn on the portfolio. Broadly a specific investment in a portfolio can be judged for its riskiness along a home base. On one end of this scale a risk less investment offers a guaranteed rate of return on the amount invested, but generally the quantity of return is low. On the other end of the scale are very risky investments which may end giving a very high return or may actually result in a heavy loss. The risk of the total portfolio is assessed on the basis of combined likelihood of variation in the combined returns or loss on all the investments in the portfolio.3. What do you understand by Loan Amortization?Answer Loan amortization is the process of paying back a impart over an extended duproportionn of time along with the interest incurred. The interest to be paid for the amount borrowed, till the loan is completely repaid, is calculated in advance. This is divided by the total number of payments being made and added with the principal payments to arrive at an amount that consists of both the principal as hale as the interest. The payments have to be made according to this amortization schedule, which is decided before the loan is swerved and could be in the form of simple monthly or yearbook payments. Before the principal amount is issuingd, the terms for calculation of the interest are as well fixed.4. What is the Difference between NPV and IRR?Answer The difference between net income present value and internal rate of return both of these measurements are primarily use in capital budgeting, the process by which companies determines whether a rude(a) investment or expansion opportunity is worthwhile. Given an investment opportunity, a firm needs to decide whether undertaking the investment will generate net economical lettuces or losses fo r the company. The main difference however should be more evident in the method or should I say the units used. piece of music NPV is calculated in cash, the IRR is a percentage value expected in return from a capital project. Due to the fact that NVP is calculated in currency, it everlastingly seems to resonate more easily with the general public as the general public comprehends monetary value better as compared to other values.This does not needs mean that the NPV is automatically the best option when evaluating a firms progress. The best option would depend on the perception of the individual doing the calculation, as well as, his objective in the whole exercise. It is evident that managers and administrators would prefer the IRR as a method, as percentages give a better out discover that can be used to impart strategic decisions over the firm. Another major shortfall associated with the IRR method is the fact that it cannot be conclusively used in circumstances where the cas h flow is inconsistent. While on the job(p) out figures in such fluctuating circumstances may prove tricky for the IRR method, it would pose no challenge for the NPV method since all that it would take is the assembling of all the inflows-outflows and finding an average over the entire period in focus.Evaluating the viability of a project using the IRR method could cloud the certain picture if the figures on the inflow and outflow remain to fluctuate persistently. It may even give the false impression that a short term danger with high return in a short time is more viable as compared to a bigger long-term venture that would otherwise make more profits.In order to make a decision between any of the two methods, it is alpha to take note of the go withing significant differences.Section B Case letsCASE 11. Which type of financing is appropriate to each firm?Answer APT Inc. can go in for debt with warrants since it is nearly a zero debt company and is also willing to accept any form of security. Sandford Enterprises can go in for callable debentures since it has a low debt equity ratio combined with excellent track record of servicing debt. Its future cash flows also suggest a strong capability to service future debt. Sharma companion Inc. can go in for issue of preferred stock considering that its fund requirements of $20 million cannot be met by debt issue. Sachetee Energy Systems can consider issue of common stock for meeting its expansion requirements. Ranbaxy Industries can issue convertible bonds or debt with warrant considering that it is averse to divesting management control.2. What types of securities must be issued by a firm which is on the growing stage in order to meet the financial requirements?Answer for a company which is in a growing stage, issue of debt may be the most optimum mode of rising fresh funding, this is because future potential cash flows would be sufficient to service the debt obligation or make a premature payment. This wou ld also be in line with the potential risk appetite of the organization to sustain its growth and earn additive returns. Issue of equity is another option which such a company can look at. This would however depend on the management philosophy of retaining or divesting management control. A mix of debt and equity could also be a potential source of financing. Cost of raising debt or equity would be an important consideration in deciding the option.CASE 21. How would you judge the potential profit of Bajaj Electronics on the first year of gross gross sales to Booth Plastics and give your views to development the profit.Answer Sales fluctuate seasonally and the average collection period tends to run 40 days. Bad-debt losses are less than 0.6 per cent of sales. The Perluences accounting dept estimated a 24 per cent markup as the average for items sold to Pucca Electronics. Bajaj Electronics, in turn, resold the items to yield a 17 per cent markup. Bajaj Electronics incurred out-o f pocket expenses that were not considered in compute the 17 per cent markup on its items. James would receive a 3 per cent commission on all sales. a commission paid whether or not the receivable was collected. In addition to the sales commission, the company would incur inconsistent costs as a result of handling the merchandise for the new account.As a general guideline, warehousing and other administrative variable costs would run 3 per cent sales. First of all, he considered the potential profit from the account. James had estimated first-year sales to Booth Plastics of $65,000. Assuming that Neck Booth took the, 3 per cent discount. Bajaj Electronicswould realize a 17 per cent markup on these sales since the average markup was calculated on the basis of the customer taking the discount. His department probably spent three times as much money and cause managing a marginal account as compared to a strong account. He also figured that overdue and uncollected funds had to be fin anced by Bajaj Electronics at a rate of 18 per cent.2. Suggestion regarding Credit limit. Should it be approved or not, what should be the amount of credit limit that electronics give to Booth Plastics.Answer- Strand Electronics has 950 employees and handles a volume of $85 million in sales annually. About $6 million of the sales represents items manufactured by Perluence. He supervises vanadium employees who handle credit application and collections on 4,600 accounts. The accounts range from $120 to $85,000.Thefirmsells on terms, with 2/10, net 30 mostly. Sales fluctuate seasonally and the average collection period tends to run 40 days. Bad-debt losses are less than 0.6 % of sales. The company was founded in 1977 by Neck and has grown steadily. The Perluences cost-accounting department estimated a 24 % markup as the average for items sold to Pucca.Bajaj, in turn, resold the items to yield a 17 per cent markup. Bajaj incurred out-of pocket expenses that were not considered in calcu lating the 17 per cent markup on its items. James would receive a 3 % commission on sales made to Booth, a commission that would be paid. a general guideline, administrative variable costs would run 3 %. James estimated first-year sales to Booth of $65,000.Assuming that Neck took the, 3 percent discount. Bajaj would realize a 17% markup on these sales since the average markup was calculated on the basis of the customer taking the discount. If Neck did not take the discount, the markup would be slightly higher. In addition to the potential profit from the account. He also figured that overdue and uncollected funds had to be financed by Bajaj at a rate of 18 %. All in all, slowly paying or marginal accounts were very costly to Bajaj.SECTION C1. Honey Well Company is contemplating to liberalize its collectioneffort. Its present sales are Rs. 10 lakh, its average collection period is 30 days, its expected variable cost to sales ratio is 85 percent and its bad debt ratio is 5 per cent. The Companys cost of capital is 10 per cent and assess are is 40 per cent. He proposed liberalization in collection effort cast up sales to Rs. 12 lakh increases average collection period by 15 days, and increases the bad debt ratio to 7 percent. Determine the change in net profit.Answer- At 85 percent variable cost the gross contribution of various costs including cost of bad debt and and capital cost amount tied up as receivables to be collected will be 15 percent of the sales. From this contribution of 15 percent all other expenses miss the bad debt and cost of capital tied up in receivable will change. Therefore we can calculate the impact of liberalization in collection on profit as follows. Original Amount Changed Amount1. Sales per year 1,000,000 1,200,000 2. function 15% 0f (1) 150,000 180,000 3. Receivable (1)*Days/365 82,192 147,945 4. Cost of receivables (3)*0.1 8,219 14,794 5. Cost of bad debts (1)*% 50,000 84,000 6. (4) + (5) 58,219 98,794 7. Balance Contribution (2 ) (6) 91,781 81,206 - We can see from above table that that the balance contribution available will decrease by Rs. 10,575 from Rs. 91,781 to Rs. 81,206. The profit before tax will also reduce by the same amount. The reduction in profit after tax will beReduction in profit after tax = 10575*60/100 = Rs. 63452. Explain the concept of working capital. What are the factors which influence the working capital? Answer- The management of the ongoing assets deals with the determination, maintenance, control and monitoring of aim of all the individuals current assets. Current assets have short life span. Each current asset is swiftly converted into other assets forms. Theexistence and necessity of current assets is implied for the efficient and optimal use of the fixed assets. This project reveals the various aspects of working capital management in general, and also at the same time sneaks into the mulish aspect of applying theoretical concepts of the company. The importance of working capital management is reflected in the fact that financial managers spend a great deal of time in managing current assets and current liabilities.These include arranging short term financing, negotiating favorable credit terms, controlling the movement of cash, administering accounts receivables and investing short-term surplus funds. For the analysis part, the information collection was done by primary and secondary sources where the primary sources includes the personal interaction with the industry guide and secondary sources includes external and internal sources involving company annuals. therefrom the presentation of data collected was done in the form of graphs and tables. In summer training I was given the project related to working capital management and CMA forms which were discussed later in the project. For this purpose, I regularly interacted with my industry guide and the other staff of the Corporate Finance Department.For the preparation of the project, I had a loo k on the company profile and made a plan by going through its previous accounting reports. Then, I had analyzed the plan and then I filled the CMA forms and projected as per the instructions of my industry guide.The basic objective of this project is to know the factors that determine the working capital requirements and to analyze the divers(prenominal) approaches available for the financing. Basically, working capital is composed of various items. Most of the time you got inventories and retained profits. According to the US GAAP (Generecally accepted accounting principles), the inventories must follow any appreciation (or depreciation) of the items in inventory.Lets say that you have a pencil in your companys inventory whose value is US$1, 00. If from October 2008 to November 2008 the value of the pen would go from US$1,00 to US$1,20, your working capital would be affected in 20%. On the opposite, if the value had dropped to US$0,80, your working capital would have depreciated in 20%. But this is according one of the many accounting principles. On the other side, if you have money invested in any kind of product or fund, you have to adjust properly, reflecting its appreciation or depreciation. But in this case, other factors play an important role.

Saturday, May 25, 2019

The Scientific Revolution

There should be balance, in any essay which deals with events in history, between the dry, chronological facts, and the somebody of the event (s) in question. If an essay on a subject of history relies too much on mere historical data and fails to personalize or in a sense benevolentize the concepts and facts which are the meat and bones of the essay, then the loss of emotion and empathy on behalf of the reader will preclude their maintaining an devouring(prenominal) interest in the facts, no matter how skilfully presented.Unfortunately, in the essay The Significance of the Scientific Revolution, absolutely no human peak is added to the generally overpower flow of dry data and historical fact. The ommission of details, even details regarding dates, persons, and events is less egregious than the ommission of any personal feeling or human interest detail which might have been included alongside the presentation of the key events of what is known, historically, as The Scientific R evolution.In The Significance of the Scientific Revolution, the reader is shown a summation of what might be best thought of as the key exterior events of the Scientific Revolution. These key events are presented without any degree of fleshing out which makes it very difficult to imagine the real-life continue of the events and historical evolution which the essay attempts to describe. the lack of personalization extends to the essays thesis, or rather, to its lack of a thesis. The idea that the Scientific Revolution was a major historical watershed for human evolution is not a thesis, but rather a statement of what is obvious.Due to its lack of any tangible thesis of humanizing element, the essay, as it stands, presents no verifiable command and is, at best, a weak summation of chronological events. Age of attainment Although it is tempting for some observers to sum up historical eras into neat and tidy pack get along withs, this lure is a dangerous one because it often leads t o over-generalization and the loss of important historical specificity, much of which may run as a counterpoint or counter-vision to the observers original, flavourless understanding.In the essay The Age of Enlightenment generalization is the rule, and the resultant loss of historical specifics (and therefore accuracy) is the most obvious criticism which may be leveled at the essay. To generate with, the essay offers the view in its opening paragraph that the Age of Enlightenment was uniformly a positivistic era in history peasants and nobles were no longer bound by their feudal obligations. The philosophers of the Enlightenment felt bound to their secular views based from human understanding and reason only.These thinkers hoped that the period would bring positive changes to each aspect of thought and life (Enlightenment, 1). While this summation may be generally true, it is a drastic oversimplification of the slow evolution of human rights which began in the beginning the Age of Enlightenment and continues right on through to modern times. The author goes on to make several unsubstantiated points for example, the age of Enlightenment was the light that shined on the corruption during the middle ages caused by the Catholic Church as well as misleading or imprecise diction The people behind the age of Enlightenment (Enlightenment, 1).Basically, the author of the essay has taken a very generalized view, overall, of what the historical Age of Enlightenment really was and in addition, the author has compounded the breakup of their overall argument by using imprecise terms and vague substantiation through secondary sources. Unfortunately, the essay, although logical and put together in a streamlined and linear fashion, offers very little substantive information and may, in fact, be misleading to someone who read the essay hoping to understand the Age of Enlightenment from a genuinely historical perspective.

Friday, May 24, 2019

Marketing scenario Essay

IntroductionPositioned as an premium offering focused to lowest overall cost to end users finished superior overall performance.Leader in fictitious character , performance and expert innovationProduct linesCarton sealing and industrial immortalisesSpecialized adhesivesOther promotion productsK2 tape Manufactured using patented technology and a defect draw for pressure sensitive carton sealing tapeVery mettlesome tensile strength and sheer resistancePositioningHigh PriceK2 Products low-down QualityHigh QualityIpackTensileNew ProductLow PriceProblem Statement K2 tape fightd against inferior economy grade products in carton sealing type IPACK offered 25-35% lesser price Revenue of K2- $68.6 jillion IPACK $28.5 million in 2012 Tensile a new competitor had $2.7 million dollar sale with one sales representativeShould PST stay with high type product or enter the economy grade segment ?Option 1 Enter the economy gradesegment low the same brandPROSAccess to the economy segment Defend market share against competitionDiversification of product portfolioCONSDilution of the brand image as a maker oftechnological superior productCannibalization of its own product offeringCluttered product lineOption 2 Enter the economy grade segmentunder different brandImplications forPROSCONSCustomer Ability to fulfill need of price sensitivecustomers Possibility of change in perception ofbeing a tint leaderDistributor Possibility to offer a low end PSTproduct Even wider product range Limitedsales force gross sales Force Ability to offer more variety in terms ofprice levels More effort to explain productdifferencesBrand No dictatorial impact Negative impact on brand imageOption 2 Stay with high-quality productsImplications forPROSCONSCustomer Maintaining image of qualityLeader Loss of merchandise share Not targetingprice sensitive consumersDistributor No need for adjustment indistribution policy Low-price offer only fromcompetitor non from PSTSales Force unvarying and ea sy productquality No ability to offer solution for pricesensitive customerBrand Consistent overall brand image No negative impactRecommendationPST should enter the economy grade segmentNEW BRAND New name (unrelated to PST) to avoid negative impact on brand image Marketed completely independentPRODUCT LAUNCH Development and launch of two new products to compete with Tensile Competitive pricing strategy (similar to Tensile)ENTER MARKET Make use of well established distribution network Offer economy equivalents for RD-48 & RDS-72 advantage FACTORS There is a projected growth in demand (e.g. packaging segment 2.2%) PST has an established sales force and distribution network in the tape market There is a lack of brand loyalty of price sensitive customers (switching to PSTs new brand) There was suitable equipment and capacity for quick production dispersion Plan Distribution through existing network for faster brand growth Hire more sales people to increase service quality & sales in PSTs tape business

Thursday, May 23, 2019

Cenralistaion vs Decentalisation

The main decisions be make by senior management, where little authority is passed down the organisation. advantages decisions are made by experienced people with an overview of the company. ensures policies are consistent through unwrap the company. ensures quick decisions stomach be made without consultation. procedures such as ordering and purchasing can be standardised throughout the company, leading to economies of scale. in times of crisis the firm may need strong leadership by a central convocation of senior managers. disadvantages (mainly advantages of decentralisation) centralisation reduces the input of the day to day experts, e. g. , the shop floor staff, into the firms decision making. it risks demoralising branch managers who may feel mistrusted or powerless. Decentralisation Decisions are made by junior management as authority is passed down the organisation, thereby accepting less uniformity in how things are down. There has been a trend in the 1980s and 1990s i s to decentralise to provide greater flexibility. advantages reduces the stress and burdens of senior management it can empower local managers encouraging them to be more innovated and motivated. it reduces the volume of day to day communication between head office and the branches, therefore giving senior managers the time to consider long terminal figure strategy. subordinates may have a better fellowship of local conditions affecting their areas of work.This should allow them to make more informed well judged choices, e. g. , salespersons have detailed knowledge of customers. management at middle and junior levels are groomed to take over higher positions. They are given the experience of decision making when leaseing out delegated tasks (management development). could allow greater flexibility and a quicker response to changes. If problems do not have to referred to senior management decision making will be quicker. Since decisions are quicker, they are easier to change i n the light of unforeseen circumstances. disadvantages reduction in uniformity may unsettle customers who expect every Sainsburys to wait on the same or for every McDonalds hamburger to contain just one slice of gherkin. head office is in a position to stride the success of every aspect of the product and sales mix, therefore its instructions may prove more profitable than local managers intuition. mop up It is unlikely there will ever be complete centralisation or decentralisation. Certain functions within a business will always be centralised because of their importance, e. g. , decisions about budget allocation are likely to be centralised as they affect the whole economy. The decision to distribute profits is in like manner taken only by a few. Some delegation is necessary in all firms because the limits to the amount of work senior management can carry out. Even if authority is delegated to a subordinate it is usual for the manager to retain responsibility.

Wednesday, May 22, 2019

Ethics and Fears and Wonders of Human Cloning

What is a ringer? According to the Encyclop?dia Britannica (1979), a clone is a population of organisms derived originally from a single somebody. By definition clones go across only in organisms capable of asexual reproduction and consist of genetically identical individuals. There has been a successful recorded experiment which regard to cloning, although it was alone an animal (a sheep to be more specific), there has been speculations that Human Cloning is not very far away.Before judging this issue, we should refrain having ignorant thoughts and try to study and infer the issue and detach ourselves from our emotions, religious dogmas and cultural habits/ or entrenched habits. We should see all the possible outcome of this, both positive and negative. Cloning is an issue that cannot be overlooked because everyone go away be affected by the decision that would be put upon the issue, lives will either be saved and/or lost. In February 1997, skirt the sheep, was successfully cl oned from an adult sheep.After this experiment, some people were enthusiastic with this successful discovery, because it may be the key to unlocking the untreatable diseases that we be currently facing today. It may give tone and/or prolong life, it may be the only solution and the only hope for families that are experiencing a very difficult time in notice their loved ones suffer, and it may be the only guarantee that the human race will not die out in an incurable disease. The author has displace out cases that are suggesting that Human Cloning is needed I think that some of the cases were purely for the good of the people/masses while some are extremely selfish.When I stated good for the people/masses I meant it in the terms of being egocentric. Being an egocentric, according to the Merriam-Webster Dictionary is concerned with the individual rather than society. Wanting Human Cloning for your own sake but at the same time others would also benefit from it (without real intent ion) shows egocentrism. On the other hand, I also stated that its selfish. What is being selfish? According to Merriam-Webster Dictionary selfish is an arising from concern with ones own welfare or prefer in disregard of others.You are centered to yourself and you do not care about what might be the affect towards other people. roughly people would motivation Human Cloning to be implemented so they could clone themselves. A question popped into my mind, can you guarantee that your clone would fuddle the same character or behavior as you had? Like Nicholas Coote said If I have a clone of me, I am still unique as any clone has a consciousness that is not mine and Shannon Brownies said You could clone one hundred Hitler embryos and not get a single Hitler because he was shaped by his environment.I think that this is suggesting that even though you will clone yourselves it will be impossible for you to create the exact same person because your clone would have to raised / exposed in the same environment and society as you, your clone should experience all of the things that you have experienced to make sure that he will be the same way as you. On the side of being ethical, people do not want human cloning to be implemented because it would cause conflict between the usual or normal way of creating life. Other Ethical groups were also worried about how the status of the family would be if cloning would be implemented.Some even suggest that cloning may lead to more harm than good. I personally think that with what people are doing with these days, they will tend to abuse the powers of cloning. It has been a bad habit for people to misuse things that are provided to them. I believe that for cloning to be successful people must(prenominal) understand how it works first and that they should make sure that there would be no information that they will not share or tell the public. Some of my opinion may be impossible but it is because I believe that cloning may be u sed for good only if we are provided with the the right way information.

Tuesday, May 21, 2019

Culture debasing Essay

The sess media is constantly around us, through newspapers and magazines, the internet, television and film etc. these are used by us everyday in our spare time and academic work. So are we influenced by this form of secondary socialisation in our lives to create a mass culture? And does this mass culture debase ordinary culture? In this essay I will use secondary research and my own ruling to answer this question.The media itself plays a big part in creating images through the way they report and advertise consumer products and moral panics. I feel that the type of media presentation present influences different subcultures into believing that what they are seeing is true, hence the change in their attitudes to different topics, music and fashion. Especially young people today can be nai ve and debate everything they see or hear on television or the internet, which could cause primary socialisation to change for the children, because of these views.This mass culture, I believe c ould destroy and make an ordinary culture into extinction through too much influence of babble and consumer products on television. Although you could ask what is ordinary and normal? typical does not have a clear definition as no one is completely normal, but ordinary seems to be defined as bite or customary, so an ordinary culture is considered the norm way of living. So what is mass culture? An extra- ordinary way people live, or is it a prejudicial perception of some peoples choice of life?By using the textbook seventh edition Sociology Themes and Perspectives. I found that the development of the media was profane the culture of ordinary people, which could cause problems for western societies. This comment could back up my opinion of a negative effect of media through a mass culture which could destroy the traditional thoughts and practices of western life. Dwight Macdonald had a theory about mass culture. He claimed that mass culture was very different from high culture an d kinfolk art.He states that mass culture is standardized and a commercial kitsch (popular culture which could be considered worthless) used by business to create a profit. This shows that Macdonald as strong as I believe that mass culture is kitsch- worthless babble used to sell products, which also influences or brainwashes people into believing that anything merchandised is right or sick as teenagers of today say. Dwight also stated that mass culture takes less mental effort and that it tended to undermine high culture. So basically he is saying that mass culture is maybe for a different class of person.

Monday, May 20, 2019

Traffic Redundancy Elimination Solutions in Cloud Computing

1.1Background WorkCloud calculating offer its lymph glands an stinting and convenient pay-as-you-go examine theoretical account, known besides as use based pricing.Cloud clients pay exactly for the existent usage of calculating resources, storage, and bandwidth, harmonizing to their changing demands, using the mists scalable and elastic computational capabilities.In peculiar, informations transportation bes is an of import issue when seeking to minimise costs. Consequently, besmirch clients, using a pert usage of the clouds resources, are motivated to utilize assorted occupation decrease techniques, in peculiar traffic redundance excreting, for swing music downing bandwidth costs.I refer as cloud clients to agreement that send abroad services to the cloud, and as users to the end-users and devices that consume the services. work redundancy stems from general end-users behaviour, such as often accessing, downloading, uploading, distributing, and modifying the same or simil ar in sequence points ( paperss, informations, web, and picture ) . business tediousness removal is used to extinguish the transmittal of excess content and, hence, to well cut down the web cost.In most common barter pleonasm Elimination antecedents, both the starter and the receiver inspect and value signatures of informations balls, parsed harmonizing to the informations pleased, past to their plan.when outmoded balls are detected, the starter replaces the plan of each excess ball with its strong signature. utile Traffic Redundancy Elimination solutions are well-liked at undertaking webs, and occupy the ingestion of two or more proprietary-protocol, province corresponding middle-boxes at both the intranet entry points of information centres and subdivision offices, extinguishing orbitual traffic between them.While proprietary middle-boxes are well-liked point solutions within endeavors, they are non as gorgeous in a cloud location. Cloud suppliers can non profit from a eng ineering whose end is to cut down client bandwidth measures, and therefrom are non likely to put in one. The rise of on-demand work infinites, garnering suites, and work-from-home solutions detaches the workers from their offices. In such a active work state of affairs, fixed-point solutions that need a client-side and a server-side middle-box brace acquire unsuccessful.On the other manus, cloud-side snap motivates work sharing among waiters and migration among informations enters. Therefore, it is often agreed that a cosmopolitan, software-based, lengthways Traffic Redundancy Elimination is important in todays permeant environment.This enables the usage of a modular protocol stack and murders a Traffic Redundancy Elimination within end-to-end secured traffic possible. electric current end-to-end Traffic Redundancy Elimination solutions are sender-based. In the instance where the cloud waiter is the transmitter, these solutions subscribe that the waiter continuously maintain clients position. We show here that cloud snap calls for a new Traffic Redundancy Elimination solution.First, cloud burden reconciliation and effect optimisations whitethorn take to a server-side physical process and informations migration environment, in which Traffic Redundancy Elimination solutions that require full synchronism between the waiter and the client are difficult to carry through or may lose efficiency due to disconnected synchronism. Second, the popularity of rich media that consume high bandwidth motivates content distribution web ( cdn ) solutions, in which the service point or fixed and nomadic users may warp dynamically harmonizing to the comparative service point locations and tonss.Furthermore, if an end-to-end solution is employed, its extra computational and storage costs at the cloud side should be weighed against its bandwidth economy additions. Clearly, a Traffic Redundancy Elimination solution that puts most of its computational attempt on the cloud s ide2may kink to be less cost-efficient than the 1 that leverages the combined client-side capablenesss. Given an end-to-end solution, I have launch through our experiments that sender-based end-to-end Traffic Redundancy Elimination solutions add a considerable burden to the waiters, which may eliminate the cloud cost salvaging addressed by the Traffic Redundancy Elimination in the basic topographic point. Our experiments further show that current end-to-end solutions besides suffer from the demand to keep end-to-end synchronism that may ensue in debauched Traffic Redundancy Elimination efficiency.In this paper, I present a fresh receiver-based end-to-end Traffic Redundancy Elimination solution that relies on the power of anticipations to extinguish Redundant traffic between the cloud and its end-users. In this solution, each receiving scheme observes the entrance traffic redundancy riddance am and attempts to fit its balls with a antecedently received ball concatenation or a bal l concatenation of a local file. Using the long-run chunks metadata information kept locally, the receiving system sends to the waiter anticipations that include chunks signatures and easy-to-verify intimations of the senders hereafter informations. The transmitter foremost examines the intimation and performs the Traffic Redundancy Elimination operation merely on a hint-match. The intent of this process is to avoid the expensive Traffic Redundancy Elimination calculation At the dispatcher side in the absence of traffic redundancy. When redundancy is detected.The transmitter so sends to the receiver merely the acks to the anticipations, alternatively of directing the information. On the receiver side, we propose a new computationally frivolous unitization ( fingerprinting ) strategy termed battalion unitization. Pack unitization is a new for rabin fingerprinting conventionally used by rhenium applications. Experiments show that our attack can make informations treating velocities ov er 3 gb/s, at least 20 % faster than rabin fingerprinting. Offloading the computational attempt from the cloud to a big group of clients signifiers a burden distribution action, as each client processes merely its Traffic Redundancy Elimination portion.The receiver-based Traffic Redundancy Elimination solution addresses mobility jobs common to quasi-mobile desktop laptops computational environments. One of them is cloud snap due to which the waiters are dynamically relocated around the federated cloud, therefore doing clients to interact with multiple altering waiters. Another belongings is ip kineticss, which compel rolling users to often alter information science references. In add-on to the receiver-based operation, we besides suggest a intercrossed attack, which allows a battery-powered nomadic device to switch the Traffic Redundancy Elimination calculation overhead back to the cloud by triping a sender-based end-to-end Traffic Redundancy Elimination similar to to formalize the receiver-based Traffic Redundancy Elimination construct, we implemented, tested, and performed realistic experiments with battalion within a cloud environment. Our experiments show a cloud cost lessening achieved at a logical client effort while deriving extra bandwidth near eggs at the client side. The performance codification, over 25 000 lines of degree Celsius and Java, can be obtained from our execution utilizes the transmission control protocol options field, back uping all tcp-based applications such as web, picture straffic redundancy riddance aming, p2p, e-mail, etc.

Sunday, May 19, 2019

Class and Gender Reflection

A reflection on Class and Gender from a traditional / ethnic mise en scene by Gender I grew up surrounded by powerful wo men Three older sisters who immovable what I would wear and which games we would play. A mother and two aunties, who held positions of power as teachers. My dad was a nonoperational person and therefore was ruled by the women in our household. So at my young age, Gender was protection for my dad My first exposure to gender outside of my household was In the media. With the feminist movement. I then realize that my home was an exception and that globally, omen were being treated as If they were Inferior to men.But a nonher realization came to me In the western world, women were fighting for independence, whereas in traditional societies, women were (and are still) fighting for family unity. A priest once told me The charr Is the pillar of her household. In the ass in Mauritius, the feminist movement started with the boom In the economy. Suddenly, housewives we nt to work In mass In factories and this caused a significant change in the family dynamics in two ship canal No longer were men the sole bread winners in the family and Children were coming home from school without a parent being horn.With regards to Africa, a significant component of humanitarian aid has gone towards the empowerment of African women, like helping them to build Income generating activities. However, no work has been done in parallel with the men. So men of traditional societies suddenly found themselves less educated than t inheritor wives, and becoming reliant on their wives for Income support. This loss In status without any opportunity to express themselves, have caused some men to turn violent towards heir wives. More and more now. Unitarian agencies are making sure that all community members participate in the process of project to ensure that the men are not left behind-. Class Growing up, It was open that there was (and that there still Is) a social human body system In Mauritius, even It It was not openly acknowledged. There Is clear delve In terms of 1) wealth, 2) education, 3) skin color and even 4) your name. And this class structure Is maintained by the political and economic system, because they benefit trot it. Politicians can more considerably pull the wool over the eyes tooth population, it the latter is uneducated.In Australia, it seemed that there was no class division in society I now know that this Is not true. Twelve years ago, I moved screen to Mauritius and chose to live in a small coastal village where the majority of the people are poor. My metropolis friends could not relate to my new friends from the village. There were many differences between the two groups education, beliefs, methods of worship, standard of living, health and hygiene (amongst many others) and neither group could openly and clearly monomaniac with each other and therefore would struggle to actualise the actions of the other.People from a di fferent social class have a different culture they have a different way of looking at things. For example, Cambodia like eating grilled cockroaches, while we Mauritania make it our exercise to exterminate them. And this reminds me of one of my favorite quote El respect De la difference De latter est. la base De lanthanum which literally translate to respect for the difference in others is at the core of our humanity.

Saturday, May 18, 2019

Producer Protection, Prior Market Structure and the Effects of Government Regulation

Producer Protection, Prior Market Structure and the operation of Goernment Regulation Assignment on Regulatory Economics 1/5/2012 ? INTRODUCTION The plow economic command of business by independent g in all overnment commissions has a one-hundred year history on the North American continent. It is generally asserted that the purpose of such commissions is to protect consumers from exploitation by hold the economic authors of certain firms having pervasive effectuate on the public interest (for example, transportation companies and public utilities). However, the findings of the comparatively few em-pirical studies of the economic effects of law indicate that significant differences actually do go in these effects. The disparities in these findings raise the question of why the actual economic effects of enactment differ among industries despite the supposedly common, avowed purpose of decree. They excessively question whether a single hypothesis is adequate to reliev e the several(prenominal)(a) effects of jurisprudence.THREE HYPOTHESES REGARDING REGULATION 1. Consumer-Protection Hypothesis This is the more or less popular of animate hypotheses. It implies that regularization will protect consumer interests by reducing monetary values until they equal marginal costs, by pr blushting sexist pricing, by improving good quality (at brisk impairments), by encouraging the entry of firms that are more(prenominal) efficient or that prolong more preferred damage/product combinations, and by reducing industry profits to the market prize of relapse. they often appear to promote the interests of adjust firms to the disadvantage of consumers. Despite the real purpose of regularization, the regulated industries bring managed to pervert their regulators until the commissions vex the protectors of the regulated rather than of consumers. 2. No-effect Hypothesis This hypothesis implies that regulation has no effect on regulated industries (other than to impose certain costs in the per produceance of regulatory procedures).This situation could result if an already powerful industry is able to potency its regulators (the supplementary perversion hypothesis). if the market coordinate preceding to regulation were competitive and the actual effect of regulation is to obtain competitive performance the prior market structure were monopolistic and the actual effect of regulation is to yield monopoly performance 3. Producer-Protection Hypothesis It says that the actual effect of regulation is to increase or sustain the economic power of an industry.Such a situation could result if regulation converted a formerly competitive or oligopolistic industry into a cartel (that is, if regulation helped antecedently independent makers form an agreement to act together9), if it increased the effectiveness of an subsisting cartel, or if it maintained an existing monopoly (or cartel) where rival firms would otherwise enter to provide comp etition in solvent to the growth of markets or the discipline of new technology.Under this situation, one would expect to find regulation doing such things as increasing impairments, promoting set disagreement, reducing or preventing the entry of rival firms, and increasing industry profits. The no-effect hypothesis does not appear to be generally descriptive of the effects of government regulation. The implications of the consumer-protection hypothesis also beat a problem of expiation with useable evidence and are quite in legitimate.The implications of the producer-protection hypothesis do turn out to be consistent with much of the available evidence regarding the effects of government regulation, once recognition is given to the effects of the prior (non-regulated) market structures of various industries. The obvious way to test the ability of the producer-protection hypothesis to explain the apparently diverse effects of regulation at heart the context of prior market st ructure is to classify regulated industries into ii gatherings on the basis of their non-regulated market structures, and then investigate the impact of regulation on industries within distributively group.One group should allow those industries whose prior market structure was a congenital monopoly. This group would include electric utilities, natural gas pipelines, local gas distribution companies, telephone companies, etc. The second group should consist of industries having oligopolistic or competitive market structures prior to the implementation of regulation, for example, airlines, repel holders, railroad lines, and water carriers.If the producer-protection hypothesis is descriptive of the central effects of regulation, one would expect to find regulation having diminutive or no effect on the first group, whereas the second group would throw substantial changes following the effective implementation of regulation. ? congenital MONOPOLY INDUSTRIES Among other thing s, effective monopolies are characterized by relatively high price aims, by extensive price variation, and by roves of return on investment exceeding those attainable if the firm blend ind in a competitive market structure.Thus, the producer-protection hypothesis implies that following the implementation of regulation over natural monopolies, the price level will be inbredly unchanged and will be above marginal costs, price inconsistency will continue to be widely unspoilt, and pass judgment of return will remain above those which would exist under competition. equipment casualty level At least three studies redeem been made regarding the effects of regulation on electric utility price levels.Taken together, these three studies indicate that regulation has had a restrain effect on saturnine electric utility rates and that most of its benefits hasten been enjoyed by mercantile and industrial consumers rather than the more numerous residential consumers. Also, it seems r elevant that it took about 25 long time for evince regulation to be associated with any reduction in commercialized and industrial rates, and around 45 years for it to be reflected in lower prices for residential consumers.Davidson presented the price relatives of average gas rates supercharged by the Consolidated Gas Electric Light and Power Company of Baltimore from 1910. During the 43 years covered by these data, rates decreased from 1910 to 1918, then increased until mid-1923, decreased and then generally remained constant to 1947, increased astutely in two steps in 1947 and 1949, and then fell again in 1950. The Company was more active than the Commission in granting rate decreases, while the two instituted the same number of increases.Furthermore, it can be seen that the industrial users enjoyed proportionally more rate decreases than their proportional share of rate increases. Evidence shows that Company originated changes resulted in net rate decreases for all nine user categories with the major beneficiaries macrocosm the medium and large home(prenominal) users, and the large industrial users. In comparison, the Commission ordered or negotiated rate changes resulted in net rate increases for small and medium domestic users, and small commercial users, while the major beneficiaries of Commission actions were the large commercial and the small and medium industrial users.Overall, the largest users enjoyed the greatest rate reductions during the 43-year period, while the smallest users either had small increases or decreases. This leads to the end point that factors other than regulation were important in these rate reductions. And the above evidence shows that the Commissions regulation did not constantly result in lower rates, and that the Company was more active than the Commission in instigating rate decreases. Price DiscriminationThe literature regarding public utility pricing is unanimous in agreeing that discrimination is widely practiced by electric utilities, natural gas pipe-lines, local gas distribution companies, and telephone companies. Stigler and Friedland found that in 1917 and 1937 some(prenominal) the regulated and the nonregulated electric utilities discriminated against domestic (residential) consumers in favor of industrial consumers, with no difference existing in the degree of price discrimination after allowance was made for the relative consumption of electricity by the two classes of consumers in the various states.Thus, they concluded that regulation had no detectable effect on price discrimination. Some studies indicate that in those years price discrimination might have been even greater under regulation. Since price discrimination is a matter of price structure, it is clear that, regulation has had little or no effect on any price discrimination. . The existing studies all indicate that regulation has not significantly decreased the power of natural monopolies to practice extensive price disc rimination.Thus, the producer-protection hypothesis seems to be more applicable in describing this situation than the consumer-protection hypothesis with its implication of a reduction in or absence of price discrimination. It is not surprising to find discriminatory pricing consistently practiced by natural monopolies, be they regulated or non-regulated. So long as economies of scale result in decreasing long-run average costs, marginal costs will lie below average costs, and par a single price for all customers to marginal cost will result in the ultimate bankruptcy of the firm and the termination of service.Even given the usefulness of discriminatory, multi-part pricing in sustaining a natural monopoly without subsidy, it should still be possible for regulatory commissions to reduce the price discrimination practiced by regulated natural monopolies relative to that practiced by those that are not regulated. The available evidence indicates that this has not been achieved. judg e of Return There is slightly evidence that regulation has not significantly altered the rates of return of privately-owned electric utilities.Specifically, Stigler and Friedland found no effect of regulation on stock prices of electric utilities from 1907 to 1920. Continuing botany growth and continuing flows of investment funds should be proof-of-pudding tests that the Commission restrictions have not yet become excessive constraints. The success of utilities in general in selling bond and common stock issues, and the overlook of bankruptcies in recent years are evidence that the rates of return of regulated utilities have been at least equal to the market rates of return.The regulated rates of return have been high decorous to attract the capital necessary for rapid expansion by the electric, gas pipeline, and telephone utilities, but on that point is no indication of how much different the rates of return or the growth rates of these utilities would have been without regula tion. OLIGOPOLISTIC INDUSTRIES The producer-protection hypothesis implies that regulated industries whose natural market structures were oligopolistic or competitive prior to regulation will experience substantial changes following the implementation of regulation.There should be significant increases in price levels, price discrimination should be greater, and rates of return improved. Perhaps crucially important, the producer-protection hypothesis implies that effective regulation will also restrict or delay entry into the industry in order to prevent new suppliers from capturing some of the regulatory benefits gained by existing producers. Price levelsAirline passenger fares within California have been drug-addicted to regulation by the California Public Utilities Commission (PUC), but, in contrast to the complete regulation of two fare decreases and increases, through 1965 the regulation was limited to automatically approving all proposed fare decreases while awful brief dela ys on the implementation of requested fare increases. The result of these differences in regulation was that coach fares within California were consistently lower than such fares in similar regulated markets.The available evidence regarding the effects of regulation on price level for formerly oligopolistic industries is consistent and unambiguous. Regulatory actions and procedures have allowed the carriers in each industry to reach agreements regarding prices and to enforce adherence to these agreements. The result has been substantial increases in price levels for the interstate airlines, the encumbrance motor carriers, and the railroads.Without regulation prices would be from 9 to 50 per cent lower than they are with regulation, with many reductions in the long-run exceeding 30 per cent. Price Discrimination A consistent material body also emerges regarding price discrimination by these three transport modes. Large differences have been found in the extent to which price discri mination has been practiced by the CAB-regulated interstate airlines (with their much higher price levels) compared with the relatively non-regulated California intrastate carriers.The time honored use of the value-of-service method of pricing in establishing rates, the adjustment of the resulting rates in response to intermodal competition, the relatively low marginal costs of movements combined with large fixed costs, the extensive joint performance and common costs, and the application of goodness rates to 85 per cent of all rail freight traffic, have combined to make the use of discriminatory pricing the norm among the railroads.Over 100 years of breeding have resulted in a marvel of complicated discriminatory pricing. Given the pervasiveness of price discrimination in rail and motor transportation, the question arises whether regulation has significantly changed the degree and amount of discrimination. it does appear that personal discrimination has been reduced. Due to the usefulness of the regulation in sustaining rail-road rates, the need for personal discrimination was largely eliminated.Its demise is not therefore surprising. Since regulation provides such rate control, it appears to have made possible the pervasive and long-lived commodity price discrimination practiced by the railroads and to have back up their extensive use of locational discrimination. An even greater effect on price discrimination has resulted from the application of regulation to the motor carrier industry.Since monopoly power is a necessary condition for price discrimination, and since regulation appears to be necessary for monopoly to exist in the motor carrier industry, it follows that regulation has been the primary cause of price discrimination in this industry, and that much less discrimination would exist without regulation. In total, the above analysis shows that regulation has been the essential ingredient for long-term price discrimination in those transportation industries whose nonregulated market structures would be oligopolistic or competitive. Rate of ReturnIt proved difficult to estimate whether public utilities have been able to obtain higher than market rates of return under regulation. This is also the crusade for the transportation industries. Since regulation has clearly resulted in increased price levels and greater price discrimination among the airlines, motor carriers, and railroads, one would expect increased rates of return to be a result. Data indicate that railroad profits did increase during the period that effective regulation was being developed, and prior to the beginning of the railroads decline.This conclusion is supported by the history of the railroads rates of return on book investment from 1890 to 1968. Just as monopoly power is no guarantor of excess profits, it can be seen that regulation does not guarantee the achievement of greater than market rates of return by an industry, especially one that is in secular decline. from 1956 to 1965, the most triple-crown of the California intrastate carriers (Pacific Southwest Airlines) had returns on stockholder equity of from 0. 0 to 227. 2 per cent, with most returns being between 30 and 45 per cent. 4 On the face of it, this indicates that while the CAB has approved innocent rates of return and that such returns have been achieved in some years by the regulated airlines, the most successful non-regulated airline has enjoyed generally higher returns. Overall, the above evidence is quite inconclusive regarding whether regu-lation has raised the rates of return for these regulated industries. Entry Control There was no need to consider entry control in the case of the public utilities since, as natural monopolies, only one firm can operate efficiently in any market.Therefore, the most regulation can do is to decide which one of several alternative firms should be allowed to provide the desired service in various markets. Assuming comparable dire ct efficiency, this is a matter of a wealth transfer between individual firms with little effect on fundamental economic results. Wherever two or more firms can survive in a market, how-ever, entry control is vitally important for the maintenance of a monopoly or cartel. Without such control, any big than normal profits will attract new suppliers to the industry, thereby reducing the benefits available to the exist-ing producers.Thus, an indication of producer protection by regulatory com-missions is their effectiveness in limiting entry into an industry. It is important to note, however, that while regulation has served to re-strict entry and hold down the number of regulated airlines and motor carriers, it has failed to limit the inflow of resources into these industries because of two fundamental imperfections in the regulatory framework. The first imper-fection results from there being little or no control over the amounts of re-sources each existing carrier can bring into the industry.The second stems from the fact that the CAB and the ICC have no power to assign specific market shares to individual carriers where two or more carriers are allow to provide comparable service. Since regulation prevents the carriers from utilizing price contestation to obtain larger market shares, they turn to service-quality rivalry in their endeavors to obtain increased shares of the cartel benefits available in each market. The result is chronic over capacity despite (or because of) regulation. CONCLUSIONThe evidence presented above has not always been clear and unambiguous, but the essential thrust has been consistent with implications derived from the producer-protection hypothesis, once the effects of prior market structure were taken into consideration. In important respects, regulation has not had significant impact on public utilities (whose non-regulated market structures are natural monopolies), whereas it has substantially influenced the transportation indust ries (having oligopolistic or competitive non-regulated market structures).With regard to price level, regulation has clearly increased the prices charged by airlines, railroads, and freight motor carriers. In contrast, it ap-pears to have had only limited and long-delayed effects in lowering electric utility rates, with most of the few regulatory benefits going to industrial and commercial consumers, that is, to the consumers who already take consider-able market power and whose large use of electricity makes it worthwhile to seek to influence regulatory decisions.In addition, the evidence from one local utility shows that gas rates were increased and decreased by both regulatory and company actions, with no clear pattern of regulatory effects. There was a similar pattern of effects regarding price discrimination. Little change in this practice resulted from regulating the natural monopolies, except for those cases where discriminatory prices appeared.On the other hand, industries whose prior market structures were oligopolistic or competitive were able to practice extensive price dis-crimination with regulation, while they had difficulty doing so without it. The evidence regarding rates of return is quite inconclusive. Overall, remarkably little of the available evidence suggests that consumers are protected by regulation. The producer-protection hypothesis yields implications that, by and large, are consistent with what is found to have occurred as a result of regulation. It follows that wherever substantial monopoly power exists in a non-regulated market structure, regulation should have relatively little impact and, where there is little or no monopoly power in the prior market structure, regulation should have an important impact by help-ing formerly independent producers form a cartel for their benefit and protection. It is probably incorrect to conclude that the producer-protection hypothesis is the most predictive of all possible hypotheses regarding the effects of government regulation.

Friday, May 17, 2019

The Effect of Biological and Nonbiological Material

The Effect of Biological and Non biologic Material on the chemical reaction to a Changing pH Level This prove was conducted to learn exactly how biological material responds to acclivity or dropping pH levels in comparison to how nonbiological material does. The dependent variable in this experiment was how the different materials react, and the independent variable was the type of material, biological or nonbiological. Tap water was the selected nonbiological material, and the generally cognize pH level for water is 7, or neutral.Potato homogenate, liver homogenate and egg white solution was apply as the biological material. A devotee solution that serves as a model of a biological materials chemical that helps it carry out homeostasis was also used in the experiment, being tried and true in the akin manner as the other materials. This topic was tested in order to support a tissues biological chemical processes, presence of buffers, and their ability to maintain its needed p H level for normal function.For actually conducting the experiment, each material was measured out into 25 mL and set up into a beaker to be measured for its pH level with pH paper. Then five drops hydrochloric acid was added to the beaker with a 0. 1M dropper, and then the pH level was measured again. This process was repeated until a total of 30 drops of HCl was added to the beaker. from each one material was tested in this way, and then the same was done with each material, only adding sodium hydroxide with five drops at a clock as well, measuring the pH level each time in between with pH paper.If both biological and nonbiological material are treated in the same way with hydrochloric acid and sodium hydroxide to raise or lower the pH level, then the biological material will claim less of a change in its pH level, because its biological tissues have natural chemical processes that regulate the pH level. If a chemical solution that is a model of a biological buffer is treated with hydrochloric acid and sodium hydroxide to raise or lower the pH level, then it will stay generally the same pH level as its start, because a buffers purpose is to regular the pH level of a biological material.

Thursday, May 16, 2019

KINGDOM PLANTAE

Non-Flowering Mosses (Bryophyte) Ferns (Pterodactyl) Gymnosperms 2. Flowering Angiosperms Monocotyledon dicotyledonous Vascular tissues and the seeds play a vital role in transporting substances (water, minerals, and sugars) throughout the plant. Seeds are social structures, which contains an embryo that helps In storing food. Phylum Bryophyte (Mosses) Referred to as Bryophytes Simplest plants simple stems and leaves No true root very small in structureNon- vascular land plant do not contain either conducting tissues Have rhizomes for anchorage Spores from capsules (wind-dispersal) Mainly growing on damp terrestrial land, on other plants, and on rocks Reproduction process is carried in their spores. (seedless) Play a vital role in soil eating away Ex Mosses, Liverworts, and Hornwort Phylum Patriarchate (Ferns) Parts 1. Frond CLC a leaf (finely divided into small parts) 2. Pains/Pinnate C small parts of the frond 3. Sort C spores Has true roots feathery leaves & underground stemsHav e vascular tissues Spore- reproducing organs (seedless) have-to doe with in transportation of fluids Ex Horsetails, ferns, and club mosses Phylum Angiosperms Flowering plants vascular Develops seeds within a protective structure called an ovary, which is embedded in the flower Reproduction process is carried by Angiosperm Angiosperms in the class Dicotyledonous grows into two-seed leaves (cotyledons). Two kinds of Angiosperms 1. Monocotyledon 1 seed leaf Netted/reticulate veins Multiplies by 3 petals 2.Dicotyledonous 2 seed leaves Leaves have veins in network Multiplies by 4-5 petals An angiosperms leaf consists of a single, branched, main vein. Shrubs, vines, and flowers Phylum Gymnosperms Non-flowering plants Ex trees, Contains vestigial seeds which are present in an enclosed structure Tall evergreen trees Have roots, woody stems acerate leaves Cones with reproductive structures Naked seeds in female cones Called naked seeds because seeds are exposed outside Ex Palms, rug lawns , etc.

Wednesday, May 15, 2019

Progressive Era Essay Example | Topics and Well Written Essays - 1000 words

Progressive Era - Essay causaAs industrial Revolution receded into the background and new modes of production, manufacturing and economic management models emerged, the socio-economic impact of the period was exposed. Indeed, as argued by Anderson (1974), with all its economic contributions and previously unprecedented productivity and growth, industrialisation had given rise to unemployment, craunch unrest and poverty. The working classes, as opposed to the middle and upper socio-economic ones, were the victims of disease and poverty. The wide-scale depression which beset the States from 1893 to 1897 only compounded the suffering of this class (Anderson, 1974).Within the context of the socio-economic conditions outlined in the preceding, there was a lack of appreciation for childhood and learning. Rather than be the recipients of steady and stable education, working class children were send out to work for minimal wages. Their earning, however meagre, were integral to the surviva l of their families. There was, accordingly, little room for education or the consid successiontion of the value of education, not just to the child but to the country itself.As the Industrial Revolution passed, implying the evolutio... The new methods of production had simply eliminated the need for child labor (Anderson, 1974).At the same time, the era gave rise to an educated, professional middle class. It was largely due to the efforts of this class that the Progressive Era came about. According to Dumenil (1990), as this class looked towards the conditions that the Industrial Revolution had reduced the working class and urban centers to, they saw poverty, slums, crimes, disease and corruption. They withal saw a myriad of discriminatory practices, whether class, gender or race discrimination. Not only did this class, the progressives, pull in volunteer organizations such as the American Bar Association, U.S. Chamber of Commerce, National Association for the Advancement of gri m People, and National Municipal League, among many others, to address the identified socio-economic problems but they exerted such political pressure as which incited reform. Teddy Roosevelts Square Deal emerged in response to the stated (Dumenil, 1990).The issues and concerns of the era, whether civil rights, feminism, childhood or poverty, demonstrably impacted attitudes towards education. Apart from education being acknowledged as a right which all children should operate to the fullest, greater focus was placed on the philosophy which informed education. As Roberston (1992) contends, John Dewey developed a philosophy of education which, rather than focus on childrens absorption, often memorisation without assimilation, of a wide bole of knowledge, emphasised the imperatives of personal growth. Dewey thought that childrens laxdom should be constructed, that it is not simply a product of their clean-handed will. He made a distinction between freedom based entirely on free wi ll (doing whatever one wants

Tuesday, May 14, 2019

Would you be willing to go on a one way trip for the rest of your Essay

Would you be willing to go on a one way trip for the alight of your lives to the Galaxy Andromeda. Why or why non - Essay ExampleHowever, I think something incertain that may even cause my death is not worth risking my relationships on Earth. Also, I do not see the appeal of doing something significant when there is no way to sh be my experience with the people who are important to me.Like William Feather, if I see my life as an adventure, I can get the roughly out of it. Thus, I would not lead a boring existence and I would not rent to find something to achieve or do to make my existence exciting. I would find joy and joy in the life that I have on Earth.Indeed there may be a lot to explore in the Galaxy Andromeda. But then again, the Earth is so vast it would be impossible for me to explore the totality of it in my lifetime. Yes, there may be new experiences in that opposite galaxy. Still, new experiences also await me on Earth and surely they will be no little surprising f or the simple reason that these new experiences will be mostly

Monday, May 13, 2019

A Particular Place of Residence of a Person Research Paper

A Particular Place of Residence of a Person - Research Paper exemplificationThe process of area classification is done through the clustering or grouping of geographical units by the use of particular systems. Cluster epitome borrows largely from clustering algorithms but is instead much more than the mere grouping of the objects. Therefore, to successfully run a cluster analysis will require a series of particular steps, which involve multiple decisions across all the stages. At this point, there is no wrong(p) or right answer to most of the decisions that are made in the process. E actually decision in the stages will, therefore, give its own alternative results. As a result, the different decisions gathered could be appropriate or not appropriate depending on the classification that is to be created. There are seven steps twisty a successful running of the cluster analysis. Each step in the framework represents a very important decision point that is imperative for the smoot h running of the cluster analysis (Harris and Webber, 2005). It is suggested that the user of the method should be in a position to correctly recognize all the important and critical decisions problematic and their individual influences on the results (Everett and Leese, 2001). At this point, it becomes important to clearly distinguish between the conventional cluster analysis and the clustering method. Clustering method connotes the simple process by which the clusters are actually formed (Everett and Leese, 2001). On the other hand, cluster analysis is much elaborate and implies the wider series of steps that have to be followed in order to finish the whole analysis.