The Angel – Ted Hughes Poem Analysis

1) What is the poem about? My personal view is that Ted Hughes has attempted to interpret his inner feelings relating to the deaths of his two wives and mother in his writing. The poem is centred around Halifax and I think this is of relevance because Ted Hughes grew up in the town so will always be able to make a connection between the actual place, his family and his upbringing. I find it significant that Hughes was frequently accused of writing poetry which is unnecessarily violent as my opinion is that he was simply being a typically blunt Yorkshire man, describing visions as he sees them. I am aware that the understandings of meanings may vary from reader to reader, but from studying the poem I understand that Hughes is describing a vision of what he thought to be an angel over the Calder Valley landscape. I also think that Hughes may use his poetry as a method to display his emotions and guilt felt towards both of his wives committing suicide. Also you can read Analysis July at the Multiplex 2) How does the poet use language to convey the meaning, give examples of use of any figurative or metaphorical language? Hughes endeavours to use his poetry as a powerful way of reaching our feelings and emotions in a subconscious manner. In his position as a writer, Hughes attempts to help release our suppressed creative energies, and he believes that poetry is particularly effective for this purpose. Hughes technique involves using appropriate wording to influence the reader's imagination which results in the effect being a release of emotional energy. I don't think his language and structure of writing is necessarily easy to understand. My approach to this was to study the background of Hughes as a person, this helped me to appreciate his work and recognize the style in which Hughes aspires to create a vision. I have researched more of Hughes poetry and upon doing so, noticed and become aware of the fact that certain images recur in his work. In his poem The Angel, Hughes uses metaphors such as â€Å"it was a swan the size of a city!† this type of wording will attract the reader's attention with an element of surprise as a metaphor is a phrase or figure of speech in which a word or phrase that ordinarily designates one thing, is used to designate another. The result is it makes an implicit comparison. â€Å"Smoking Snow† is an oxymoron as two contradictory terms are combined. Realistically, it is not possible for snow to smoke but this is designed to add effect as it sounds quite dramatic. â€Å"Rippling its fringed edges† – Rippling is an onomatopoeia as is fluttered. Hughes uses these types of words to imitate the sounds associated with the objects or actions they refer to (such as fluttered referring to dress). â€Å"Glowed like the night-cloud over Sheffield† would be classed as a simile as it is making a comparison and using the word like. I find the wording â€Å"Strange square of Satin† to be alliteration as Hughes is repeating the consonants to result in the same types of sounds. My view is that Hughes has used the word â€Å"enigmatic† as a personification as it is giving a human attribute to an inanimate object (square of satin). 3) What senses is the poet using to convey his vision and meaning? I think Hughes mainly tries to illustrate his poem The Angel as a vision in which we can receive a vivid and quite clear picture in our heads of the events and images. I think this is particularly correct of the sentence â€Å"She was cast in burning metal† as I can actually envisage the sight of the angel surrounded by the hot, flaming metal. Part of Hughes piece also appeal to my touch senses such as â€Å"When I next saw that strange square of satin I reached out and touched it†. This comment made me think of the soft and silky feel of holding satin in my hand. When Hughes is quoting his vision of the words of advice spoken by his mother it appeals to the senses of sound. Read also  Case 302 July in Multiplex 4) Which pieces of the poem do you especially like and why? The first reason I favour the poem is because I am familiar with the towns he is referring to (Halifax and Sheffield) and I think it is important to comprehend the significance of his Yorkshire origins in order to understand his work. I am curious of the fact that there is often a darker side to Hughes poetry. I particularly enjoyed the section where Hughes was describing his vision of an angel and how it suddenly changed into an omen surrounded by burning metal as I receive a clear picture of the event in my imagination and I can almost feel the terror and panic that Hughes aspires to describe. I like the way that Hughes describes his experiences realistically and does not try to express himself in the traditional and romantic way for which other English poets are famous. I especially favoured The Angel as it arouses strong emotions and it is not a conventional piece. I have noticed that Hughes frequently does not conform to the conventions which society expects of him, and naturally this upsets people.

Concepts of Equality, Diversity and Rights in Health and Social Care Essay

Within this assignment, I have been addressed as a manager of a residential care home and I have the responsibility to provide a set of materials (leaflets, booklets, PowerPoint slides, posters) that can be used for information and training purposes) for my training staff. I have chosen to do this by writing a detailed leaflet in the style of an assignment so information can be thorough and clear. Rights Within the category of health and social care, the rights that we’re entitled to are significantly important. From time to time, or even regularly individuals will have to use sectors that relate to health and social care such as going to the doctors, hospital or a dentist. These public health services are mandatory for individuals and the public to use as individuals with long term health conditions or disabilities rely on the care they provide. Among public health services there are also social care services which have a responsibility to provide support for individuals with mental health problems, supporting the elderly and also the disabled within their homes. Other services include receiving appropriate care in day centres, residential and nursing homes and giving children who don’t live with their parents the care they’re entitled to. From this, it is concluded that whenever an individual is provided to have to use the health care service, experience medical treatment or social care – they have the right not to be discriminated against in terms of gender, race, gender identity, religion, disability of sexual orientation. Not only are these rights mandatory, individuals are also fully supported and protected by the written rights under the European Convention on Human Rights which have relevance within health and social care as their rights include: The right to life, the right not to be subjected to torture or to inhumane degrading treatment or punishment, the right to liberty and security of person and also the right to respect for private and family life. Choice Across the UK, it is becoming more common that an individual is obtaining more control from being able to choose the care and treatment they are receiving. The full aim from this change of choice is to be able to entitle an individual to become fully aware of the treatment and support that is available to them and advice on which would be best to choose. An example of this could being able to choose the hospital and individual receives their care in or if they require care at home they should be given a cash budget to be able to suit their needs and money limits. Overall, choice is imposed within health and social care as it’s to ensure that individuals have access to the best and right support, having access to a range of health and social care services locally and nationally, being equal partners with their doctor or carer in their decisions about their health and social care, and also being entitled to what their choices are and to make this clear within all health and soci al care circumstances. Equality During 2010 the equality act was introduced, mandatory for protecting individual’s rights and promoting the significance and importance of equality of opportunity for every single individual. Whether these opportunities would be minor or major in value, the equality act would play a significant role in allowing these opportunities to commence. Examples of opportunities may include having the right to attend a public event, or having the right to use public services. Furthermore, equality is an important role which also links back to the role of discrimination as people can be discriminated against due to their age, race, disability, and gender and so on, the equality act of 2010 stops this from occurring within health and social care settings and it signifies that each individual should all be treated equally. Diversity Diversity is a more complex word for ‘difference.’ However, diversity is about acknowledging the differences between individuals themselves, and also group differences. Individual differences include factors such as differing within race, age, gender, social status, disability, weight and so on. A person within a health and social care setting as a worker may experience misuse of diversity due to a difference they may have to another individual. For example, if a nurse refuses to treat a patient who may be suffering from a common but life threatening issue such as a heart attack, but is also a disabled individual, this current nurse would be misusing the legislation of diversity awareness, and would also most likely be on the way to becoming unemployed. In terms of acts that are significant to the roles of diversity happening in health and social care settings, the sex discrimination act of 1975 is a prime example of how men and women are treated equally even though thei r genders differ.

Backup and Restore DHCP Database

Having a DHCP database backup protects users from data loss in case the database gets corrupted or lost due to circumstances. Three backup methods may be used for DHCP database and are all supported by DHCPServer service:†¢ Synchronous backup – this backup occur automatically and happens every 60 minutes (default backup interval)†¢ Asynchronous backup – this is a manual backup. The user can use this backup by using the Backup command on the DHCP console. †¢ Windows Backup (ntbackup.exe) or non-Microsoft backup software The entire DHCP database is saved when the synchronous or asynchronous backup is used (Microsoft Corporation 2010). Restoring a DHCP database may be done by replacing the server database file Dhcp. mdb with a backup copy of the same file. The user may also get the database’s backup copy from the DHCP’s backup folder if the DHCP Manager is used. Restoration of the Dhcp. mdb file is also possible through the use of a tape backup or other backup media.All this procedures may be done if the user is a member of the Administrators group or has the proper authority to perform these tasks. Some points to remember when restoring a DHCP database are as follows (Microsoft Corporation 2010): †¢ Restore database backup from the same Windows Server version. If the backup is from a different version, migrate the DHCP database to the same version using the netsh export/import command.†¢ Restore database backup from the same language version.†¢ DHCP service is temporarily stopped when restoring a DHCP database.

Ethical Dilemmas Essay

Having a career in the human services field is one of the most rewarding jobs. It requires compassion, a sense of urgency and an overall desire to help others. But with the rewards the job comes with, it also does come with a handful of tough situations to come in contact with. As a human service worker, you many come across a range of clients from a family just needing assistance to a client in a life threatening situation. The importance of understanding these issues in depth and knowing how to execute the problems with the safety of the client in mind is crucial. Conchita is a twenty five year old female who has confided to her case worker that she is being sexually harassed by her classroom training instructor. Her case worker is indeed faced with a few dilemmas in Conchita’s case. As stated by the National Organization for Human Services, there are two statements that would apply to this case. Statement one which reads â€Å"human service professionals negotiate with clients the purpose, goals, and nature of the helping relationship prior to its onset as well as inform clients of the limitations of the proposed relationships (Ethical Standards, n.d.)† works directly with statement three. This statement reads â€Å"human service professionals protect the client’s right to privacy and confidentiality, except when such confidentiality would cause harm to the clients or others, when agency guidelines state otherwise, or under other stated conditions. Professionals inform client of the limits of confidentially prior to the onset of the helping relationship (Ethical Standards, n.d)†. These two statements would best suit this case due to the confidentially of Conchita’s case. Although the social worker has given her trust and privacy to Conchita, her health may be in imminent danger and therefore the confidentiality may have to be broken in order to better protect her. This all ties in with statement one because it states that as a professional you are to inform your clients that there are limits to the  social worker- client relationship. This step in the beginning stages of starting a case is extremely important for your client to understand that their health and safety matters and if need be, confidentiality will be broken to prevent further danger. In short, there are two possible solutions that come to mind when I see this case. The social worker can ignore protocol and ethical standards by respecting Conchita’s wishes and not reporting the situation; or he/she can inform Conchita on the importance of rectifying the situation, bringing the harassment to an end by filing a grievance, removing him from the classroom, and also giving her proper counseling to overcome the situation. In the end, the harassment needs to come to an end for the overall well-being of the client. If I was her case worker, I would remind her of the conversation we had when we first met. Confidentiality is very important, and I have agreed to protect her word unless I believe she is in danger. Sexual harassment can be detrimental to one’s well-being so I would have to report the inappropriate behaviors. Although it is not ethical to break confidentiality, it is legal (Mandell & Schram, 2012, pg. 516) and in the end it could save my clients from years of pain and suffering. Because it is legal and for the fact that there are legal protection such as privileged communication to support human service workers of having to open up about a situation that was promised to the client to be confidential, I would use these to my advantage to get Conchita help in her situation. Also, there may be more than one victim and by telling me what happened, Conchita may have helped others come forward. In Herman’s case, he shared with his counselor that he is no longer using controlled substances but he has recently sold some to a friend. His probation officer called his counselor to inquire about Herman and shared that he has some suspicion about Herman using and selling drugs again, and if so his parole will be revoked. When referring to the Ethical Standards for Human Service Professionals provided by the National Organization for Human Services, Herman’s situation would apply to statement three. â€Å"Human service professionals protect the right to privacy and confidentiality  except when such confidentially would cause harm to the client or others, when agency guidelines state otherwise, or under other state conditions. Professionals inform clients of the limits of confidentiality prior to the onset of the helping relationship (Ethical Standards, n.d)†. Privacy, defined as the right to be left alone (Mandell & Schram, 2012, pg. 522) is one thing that Herman believes he has to right to. Although Herman most likely confided in his counselor figuring he is protected by his right to privacy, he has put someone else’s life in danger by providing them with a drug. Also, being that he is on parole he has violated his parole order. I believe telling Herman’s parole officer would be completely unethical. Herman has confided in me because he knows that we have a confidentiality agreement and he trust me when it comes to telling me things that he normally wouldn’t tell someone. I would refer back to the ethical guidelines and read statement twenty seven which says â€Å"Human service professionals seek appropriate consultation and supervision to assist in decision-making when there are legal, ethical or other dilemmas (Ethical Standards, n.d)†. Herman’s act of selling drugs and being on parole is now touching on a legal matter, because he is not supposed to be participating in any illegal activities while on parole. I believe although it is unethical and would break the confidentiality between Herman and myself, I would tell his parole officer what he has expressed to me. He has sold drugs to a friend, which can cause harm and even result in death and more importantly he has broken the law. In the last case, Indira has admitted having sexual relations with a young man who is believed to have a sexually transmitted disease. She is extremely worried and does not know what to do but does not want to tell her parents what is going on. Indira is only fifteen years old, so to know she is a minor is very important in a case like this. Statement four of the Ethical Standards for Human Service Professionals is an important statement to remember for Indira’s case. â€Å"If it is suspected that danger or harm may occur to the client or to others as a result of a client’s behavior, the human service professional acts in an appropriate and professional manner to protect the safety of those individuals. This may involve seeking  consultation, supervision, and/or breaking the confidentially of the relationship (Ethical Standards, n.d)†. Sexually transmitted diseases are nothing to joke around about or to take lightly. As her counselor and for her being a minor, I would have to take my concerns to her parent or guardian in order to have her checked out by her doctor. Her overall health may be in danger if in fact she has had unprotected sex with someone who has a sexually transmitted disease. I would express my concern to Indira. Doing some research with Indira and educating her as to what the dangers are and what a sexually transmitted disease really is. Also, I would remind her of our confidentiality agreement and reinforce that if there are reasons for me to believe that she is in danger then I would need to call her parents or she would need to tell them herself. In the guidelines of Ethical Standards for Human Service Professionals in statement fifteen it states â€Å"human service professionals describe the effectiveness of programs, treatments, and/or techniques accurately†. This ethical standard would apply to me as the professional in Indira’s case because I would gather information on support groups, or specialty doctors to her parents in order to make sure she receives the proper care now and counseling or youth groups to support her, let her know she isn’t alone and how to be more cautious when it comes to sexual interactions in the future . The human service field can be extremely challenging at times. There will be many times that clients want to confide in you, they trust your privacy and confidentiality agreement and do tell you things they don’t just tell anyone. Some of these secrets are currently or will eventually cause harm to the client and may have legal bindings to break the privacy agreement that was made in the beginning of the counselor-client relationship. Using the National Organization for Human Service Professionals has given detailed guidelines on what is expected of and how to properly execute ethical dilemmas. References Mandell, B., & Schram, B. (2012). Understanding Legal Issues. In An Introduction to Human Services Policy and Practice. National Organization for Human Services. (n.d.). Retrieved March 1, 2015, from http://www.nationalhumanservices.org/index.php?option=com_content&view=article&id=43

Motif of Eyes in the Great Gatsby

Taylor Hultquist Mr. Sudak English 11 18 March 2013 The motif of eyes in The Great Gatsby Eyes are the gateway to the soul, or so the old saying goes. People’s eyes can convey their feelings – their anger, excitement, or worry. Eyes can also convey subconscious emotions, revealing hidden depths that might not otherwise be apparent. In The Great Gatsby we are introduced to many characters whose eyes effectively reveal their personalities. The author explores the symbolism of eyes as Nick, the narrator, observes the lives and interactions of his friends on Long Island.One of his acquaintances, Daisy, is a flighty girl, married to a retired football player. Her husband, Tom Buchanan, embodies the classic tough-white-male aura. These two and the majority of other east coast characters are eventually seen as immoral, and the author’s portrayal of their eyes foreshadowed this development. Through a complex analysis of The Great Gatsby, one can argue that eyes are used as a motif that symbolizes the â€Å"loss of virtue in America. † Through the eyes of our narrator, James Gatsby and Tom Buchanan represent the east coast American ideal.Nick considers their wealth, social status, and confidence to be the level that he strives to attain. What he does not first understand is that these qualities ultimately lead to each man’s demise. Although Tom and Gatsby had many differences, they shared the common flaw of lost virtue. When Nick reconnects with his old friends, his first impression of Tom Buchanan is that â€Å"two shining, arrogant eyes had established dominance over [Tom’s] face† (9). In this passage we witness Fitzgerald’s reference to eyes and his characterization of them with the adjective of â€Å"arrogant. These overwhelming eyes are the first feature Nick notes, and he claims even they communicate Tom’s stuck-up attitude. Tom’s eyes make him appear to be â€Å"always leaning aggressively fo rward† (9) – clearly a negative personality trait. Virtue is defined as a quality considered morally good or desirable in a person. Referencing the quote above, one can make the inference that Tom’s character falls outside of this definition. This is a trend, which carries throughout this novel continuously with all of Nick’s ‘east coast friends. During the same evening Nick notes that Daisy’s eyes â€Å"flashed around her in a defiant way, rather like Tom’s, and she laughed with thrilling scorn† (20). This quote is juxtaposed to an unflattering insight into Daisy’s character, as Nick observes in the insincerity of her comments about sophistication and the falsity of his evening spent with her and Tom. Yet despite all this, he still acknowledges that Daisy’s character always seems to be promising â€Å"gay and exciting things† have already happened and are still yet to come.Daisy represents the wild side of h igh end New York, but we see that this lifestyle is not quite as superior as everyone believes it to be. In fact, Daisy seems to view it in quite a bittersweet manner and cries that it is not entirely satisfying. What Fitzgerald is displaying through the two figures of Tom and Daisy is that while they want for nothing, they long for everything. In order to satisfy their desires they turn to money and society, and still find these lacking. Nick moved from Midwestern America to the East Coast.Cities have historically been viewed as centers of depravity, while rural areas represent simplicity and thus a kind of innocence. Every time the characters travel between the Eggs and the city, they pass beneath a billboard containing the infamous eyes of Dr. TJ Eckleburg. His eyes are â€Å"blue and gigantic† with â€Å"retinas one yard high,† all rising â€Å"above the grey land and spasms of bleak dust† below (26). These eyes are witness as the characters venture to the c ity – Tom for his affair, Daisy looking for ‘fun,’ even Gatsby to meet the man who fixed the World Series.These fraudulent actions reveal the corrupted natures of characters, and in effect the corruption of people at large. The billboard’s eyes are equated to the eyes of God, eyes witnessing everything everywhere. Just as one would feel shame knowing God was watching their deceitful actions, one should feel shame being scrutinized by TJ Eckleburg. The commercialism of the billboard is additionally reflective of the increasing commercialism of America, and of its citizens growing obsession with material wealth. Tom and Daisy’s lifestyle is the epitome of this, as they solely pursue money and fun and have no interest in their moral states of being.Yet just as this couple’s lives lack true joy – as displayed through Fitzgerald’s apt descriptions of their eyes – so will anyone’s who obsessively pursues the ‘Ameri can Dream’ of endless wealth. Works Cited Dictionary. com. â€Å"Virtue. † Dictionary. com. Dictionary. com, n. d. Web. 18 Mar. 2013. Fitzgerald, F. Scott. The Great Gatsby. Australia: Scribner, 1925. E-book. â€Å"The Great Gatsby; Symbols and Motifs. † Eyes of T. J. Eckleburg. Blog Spot, May 2011. Web. 20 Mar. 2013. â€Å"Benjamin Franklin Quotes. † LibertyQuotes. Liberty-Tree. ca, 2005. Web. 20 Mar. 2013.

Andrew Carnegie Essay Example | Topics and Well Written Essays - 500 words

Andrew Carnegie - Essay Example ers and acquisitions, cost minimizing measures, and centralization of supplies created some of the big industry giants in America, and by extension, the world. Andrew’s first venture into the Iron and steel industry was as a result of his engagement in the railroad transport industry, first as a telegrapher and secretary then as superintendent of Pennsylvania Railroad. Here he was charged with, among other things, acquiring the steel rails for the expanding railway networks and engines. Through the railroad contacts he met while working here, he recognized the opportunity of manufacturing the heavy equipment needed for the industry. He was successful in organizing Keystone Bridge Company, the first successful manufacturer of iron rail, and Pittsburgh Locomotive Works into a unit to supply the equipment. He also encouraged George Pullman to join up with him and form the Pullman Palace Car Company to market sleeping cars to the Union Pacific, is so doing he created a monopoly. Eventually, his close ties with John Pierpont Morgan led him to sell his vast interests in the steel industry to J. P. Morgan. The negotiations that ended in Ma rch 2, 1901 to form United States Steel Corporation is the largest such industrial takeover to date. Carnegie is also remembered for his drastic cost cutting measures is partly responsible for the events that shaped the labor force in the iron industry in America. His payment schedule for instance was racial informed. He paid Slavs, Russians, and Italians $12 per week, native-born whites got $22 per week, and Irish and Scots got $16 per week. His steelworks were also said to have been in deplorable conditions. In addition, in his early days as an employer, he is said to have single-handedly fell the giant steel workers union, Amalgamated Association of Iron and Steel Workers. Some of his tactics include hiring strikebreakers and spies, blacklisting workers who were thought to be capable of causing trouble, and maintaining the

Contemporary discourse in design Essay Example | Topics and Well Written Essays - 3000 words

Contemporary discourse in design - Essay Example This ranged from making their homes more comfortable such as the case of the homeless of New York to making their homes more secure such as the case of Antonelli’s Grace Under Pressure. But the profundity of the meaning of home is best illustrated by the experience of the city dwellers of New York who managed to create a home out of a cart when they opted to live in the streets than in an institution. There, the city dwellers in New York showed that home is not just a physical structure or a dwelling but rather a place of comfort where one can be â€Å"at home†. There, the cart dwellers of New York illustrated that comfort does not only mean physical implements nor devices nor machines, but rather a place where one can be at ease with his surroundings. They opted to call a cart home where they can barely fit to live rather than stay than in an institution with all the amenities and provisions but does not treat them as human beings. The cart dwellers of New York came fi rst in the discussion of the expression of home, its design and its importance because they demonstrated the basic concept of what constitute a home; that home can be still home even if it cannot house or even if it is not a house. This is very important to stress because we always equate house with a home and the cart dwellers of New York demonstrated that it is not the case; that they are not synonymous with each other. You can â€Å"house† a person or a group of person such as what the city government of New York did to the homeless people of New York but you cannot just automatically make them feel at home and so they left. A house or structure has to have several components before it can be considered a home and a mere structure does not suffice to make it a home. Had we inferred home to be synonymous with structure or house, it would be incomprehensible why the homeless of New York City left the institution. The structure was imposing that could withstand any cruelty of nature. It is also secure from the onslaught of the outside world because it is guarded. Above all, the facility is free and its residents are assured of a steady supply of food and provision. Despite of all of this, the homeless of New York still left the facility. This is quite incomprehensible because it is not the nature of man to gallivant. His body is frail and meant for domesticated and sheltered stay that could become easily vulnerable to the elements. Unlike the beast whose body allows it to hunt when it roams around, man’s body will succumb to the elements when it is not sheltered. Yet, the homeless of New York preferred the uncertainty of the street rather than stay in the government run facilities. Close examination of the facility revealed why the residents left. True, it provides food and shelter but the condition and treatment of its residents made it far from being a home. â€Å"City-run shelters-though they provide food and respite from the elements-are dan gerous and unfriendly places that impose a dehumanizing, even prisonlike, regimentation on residents. Guards routinely treat clients as inmates, allegedly denying them food for the violation of rules. Some shelter residents are abused from place to place for food, showers, and sleep. Charges of violence by shelter security guards and clients are common2† This report only revealed that people will not endure shabby treatment just to have a

Negotiation Skills for Managers Research Paper Example | Topics and Well Written Essays - 1250 words

Negotiation Skills for Managers - Research Paper Example 2006, p.3). For example, a sales manager and his clients may have contrasting interests. Clients always like to get the job done as cheaply as possible whereas the manager would like to get that job for a price as higher as possible. A compromise is necessary between the manager and his client in order to protect mutual interests as much as possible and for that purpose negotiation is a must. Since sales is a profession in which negotiation takes place quiet frequently, I decided to interview a car salesman of a Toyota dealership in order to get more awareness about various aspects of business negotiations. This paper is written based on the interview I conducted with that Toyota car salesman. My own perspectives of negotiation In my opinion, various types of negotiations occur every day in our life. However, in business world, negotiation occurs between an organization and its clients, organization and its employees, organization and its suppliers, organization and communities in wh ich it operates. However, negotiations between the sellers and buyers are more common in the business world. The seller wants to sell his product for maximum prices whereas the buyer would like to purchase things for minimum prices. Since these two motives are traveling in opposite directions, negotiation is the only way to settle the issues between the sellers and buyers. In short, better deal is the major motive behind every business negotiation. It is not necessary that all negotiation process may end up in victories or failures. In certain cases, both the parties may sacrifice many of their interests to get the work done. Characteristics of business negotiations As per the opinions of the car salesman I interviewed, negotiations can be classified into two different groups; 1) Negotiations that end up in the victory of one party and the failure of the other party 2) Negotiations that end up in victory to both the parties. He has labeled these negotiations as distributive (win-los e) and integrative (win-win). He has pointed out that a win-win or integrative negotiation is always desirable as both the parties may get some benefits out of the negotiation process. Distributive or win-lose negotiations may end up in the victory of only one party at the expense of the other. I asked him about the type of negotiation usually he undertakes and the reasons for that. He has told me that majority of the times he will go for integrative negotiations and only at the unavoidable circumstances; he will go for the distributive type of bargaining. In his opinion, business concepts are changing rapidly. Business management principles in the past and at present are entirely different. Earlier, sales people concentrated more on selling the goods at any cost. They used all positive and negative tactics to sell the product in the past. In other words, the intentions of a salesman in the past were to conduct only distributive negotiations in which the ultimate winner would be the salesman. As a result of such distributive negotiations, many companies lost their customer base as cheated customers or the losing customers started to look for other options. He has mentioned that as per the modern business principles, retaining of the customers is as important as attracting a new customer and therefore

Company Law. Case Study Essay Example | Topics and Well Written Essays - 2500 words

Company Law. Case Study - Essay Example Background: Alison Belfield (AB) is a minority shareholder in Commercial Chemical Applications Limited (CCA). Based on AB’s concerns regarding the activities of directors of CCA and the company operations the following facts have come to light. Tom Stockley is a director in CCA who also owns 3% of the shares in Amalgamated Property Holdings Ltd (APH). He introduced the transaction to CCA and is helping in negotiations to buy out APH. AB feels that CCA is not faring well commercially, being burdened with an overdraft of  £3 million, excessive capacity and the need to close down five smaller plants around the country. Any move to acquire APH could push CCA into insolvency. AB, having a financial and property background also feels that the proposed price of APH is too high and in her opinion the financial director, Rachel Nash has over-estimated the worth of APH by  £500,000 to  £600,000. But since Rachel is a chartered accountant by profession, all other directors, who do not have a financial background, rely upon her judgement. APH also has a poor track record of environmental issues, already having being convicted twice for allowing chemicals to leak into the nearby river and under close scrutiny of environmental authorities. The factory too is fairly old and requiring substantial expenditure for its refurbishment which may never happen. The acquisition of APH will inevitably result in the closure of the CCA’s other small plants located in rural areas thereby causing loss of several hundred jobs with very little possibility of being re-employed.

Organizational Behavior - How a successful Iranian based company like Research Paper

Organizational Behavior - How a successful Iranian based company like Hirbodan is surviving in tough times of sanctions against Iran - Research Paper Example Research will be taken to identify the measures taken by Hirbodan Company to succeed despite the difficult situation in the country (Griffin et al, 54). Hirbodan has an organization pattern that is well structured. The board of Directors are always at the top, middle level management, and then lower management (Griffin et al, 70). Due to this organizational structure, decision making and coordination of members within the organization is facilitated. Hirbodan Company mainly encourages its employees by using the theory Y used in management. The theory enables the employees to show commitment to the set goals and accept their responsibilities (Griffin et al, 75). International community especially the U.S has imposed sanctions on Iranian making the economy to suffer greatly (Owens et al, 92). Sanction imposed on the government of president Ahmedinejhad, include ban on Iranian oil, which is the backbone of Iranian economy. This affected several industries Hirbodan included. To worsen the situation President Amedinajhad’s plan on reforms on subsidy of 2010 removed subsidies on electricity and water affected industries (Griffin et al, 54). Iranian currency depreciated much making the cost of living rise and inflation skyrocketed (Colquitt et al, 128). The cost of running of a company turned high due to high cost of importing raw materials. The effects on Iran are adverse that companies are hoping for the best to have an enabling environment for investment. Hirbodan Rose against all odds and wage the storm, due to its strong foundation and the expertise offered by the founding professional (Colquitt et al, 253). It coordinated with companies in Engineering, procurement& construction to have its operations outside Iran. According to the research that was carried out in the company, the chairperson of the Hirbodan Company explained that the success of the company was mainly based on the definitive strategies and logical solutions to the firm problems (Owens

E-Cigarettes Essay Example | Topics and Well Written Essays - 1250 words

E-Cigarettes - Essay Example Article number one, â€Å"Use of E- Cigarettes Rises Sharply Among Teenagers, Report says† by Sabrina Tavernise and article number two, â€Å"Teens use e-cigarettes for ‘dripping,’ study says† By Susan Scutti both cover the topic of E-Cigarettes usage. In the articles, the authors both include data, research, opinions, and more. Writers Sabrina Tavernise and Susan Scutti use many strategies to persuade and pass a meaningful message to the readers. Each article covers the facts and data of E-Cigarette usage as well as portraying the message that their simply just isn’t enough data and research collected yet on the topic. Although article number two leans more towards the innocent positive side of the topic, from my understanding both authors weren’t sure if E-Cigarettes had a positive or negative effect on youths and people around the globe. In order to portray their message, each author used Logos. Logos relies on logic and reason. Both author s used Logos by including the old and current data as well as showing visuals and adding quotes and opinions by reliable people in the community.

Developments in Social Networking Sites Essay Example | Topics and Well Written Essays - 1750 words

Developments in Social Networking Sites - Essay Example The initial purpose of these sites, which was to enhance social interactions, has spilled over in a great magnitude and is influencing all aspects of society including politics, economics, environment, and ethics. Moreover, this effect is expanding exponentially due to ongoing research and consistent development of these sites. The terms ‘A web of networks’, ‘Age of Connections’ and ‘Human Web’, all ring familiar as well-known descriptions of this century. These terms however, also ring ironic as simultaneously one can argue that ours is an age of individualization, social fragmentation, and independence. â€Å"The world may never have been freer, but it has also never been so interconnected and interdependent† (Mulgan, pp. 1, 1997). It can be argued that this conflict in evaluation may be partially due to the literal web of networks that is the internet that keeps us interconnected and constantly updated on each other’s lives, whe ther it is through a Tweet or a picture upload on Facebook. Therefore, with mobility of work and fragmentation of lives, social media has developed as a response to a need for contact accounting for its growing momentum of impact. In a standard definition, social media is a type of online media that â€Å"expedites conversation as opposed to traditional media, which delivers content but does not allow readers, viewers, and listeners to participate in the creation or development of the content† (Durham, pp. 1-3, 2011). Instead of people meeting each other and communicating face-to face or even picking up the telephone, people talk to each other on Facebook thus rendering social interactions and relationships empty and superficial and that these sites may be turning us into introverted computer geeks. Dr. Burke however argues as to how social media brings us together despite the criticism. "There's a sense of connection between people that's built through social media. And I th ink that some people who may not feel the ability to do that in a face-to-face way or in a classroom can excel in building some interpersonal relationships though social  media" (Durham, pp.2, 2011). Despite a regulated level of intimacy and depth, one cannot downplay the need and importance of social networking sites. They have arisen in a time when there is a threat to interaction due to time and space. Thus, considering that the social effect of these networking sites is established, the question arises as to how and why these sites continue to influence all other fields of life. Take for example, the London Riots and the central role that Facebook and Twitter played in them. In fact, some newspapers and commentators were quick to blame social networking sites for initiating the riots and gathering the masses by re tweeting pictures of burning cars and encouraging more people in the area. Twitter has developed an option where people by simply typing in #Londonriots could gather scores of information and opinions on the site about the riots (Williams, 2011). Such a mob mentality on a virtual level shows how social media has savvied politics. Another blatant example of the connection between social media and politics comes from Philippines in 2001 during the impeachment trial of President Estrada. â€Å"Less than two hours after the announcement of the decision, crowds of enraged Filipinos gathered on Epifanio de los Santos Avenue. On a large basis, text messages and forwards reading ‘Goto ESDA, wear blck’

People hit family members because they can Essay

People hit family members because they can - Essay Example Consider a couple named Chet and Margorie that had been married for ten years. Oftentimes Chet is a very domineering husband and many times has hit and abused his wife because he believed she did not do an adequate job of cleaning the house. While it’s easy to consider that Chet is just a violent person, one must also consider what would occur if Chet had a janitor that did not properly clean his office. In these regards, it seems clear that Chet would not attack the janitor. While Chet’s exact motivations are not easily discernable, Jacobson (1998) indicates that spousal abuse is oftentimes linked to dysfunctional relationship patterns and modes of communication within the household. Markowitz (2000) also indicates that spousal abuse more readily occurs, or is deemed ‘acceptable’ as compared to public violence, as the abuser is able to rely on the abused person’s emotional or financial dependence to ensure they will not receive punishment. In these regards, the abused person is often unable to leave or inform the authorities about the abuse because they rely on the abuser for their survival. While the earlier instance considers spousal abuse, family abuse also occurs in other forms. Consider the instance of David and Marie.

Why Marijuana Should be Legal Essay Example | Topics and Well Written Essays - 500 words

Why Marijuana Should be Legal - Essay Example The evidence demonstrates that legalizing cannabis for medicinal in addition to general purposes would prove a benefit to society, evidence which is well-known throughout the scientific, political and public arena but this collective knowledge has yet to be acted upon. The economic feasibility of decriminalizing marijuana has become a much-discussed subject in recent years. The federal government presently spends a lot of capital on law enforcement to combat distributors and producers of drugs. By legalizing drugs this could eradicate much of the profit, bloodshed and corruption of that trade. If legalizing drugs is to have a positive effect on the crime rate, drugs must be made both inexpensive and available. Studies have repetitively suggested that prohibiting marijuana in the U.S. has not shown to be efficient or effective. According to the Drug Policy Alliance, â€Å"U.S. The economic feasibility of decriminalizing marijuana has become a much-discussed subject in recent years.   The federal government presently spends a lot of capital on law enforcement to combat distributors and producers of drugs. By legalizing drugs this could eradicate much of the profit, bloodshed and corruption of that trade.   If legalizing drugs is to have a positive effect on the crime rate, drugs must be made both inexpensive and available. Studies have repetitively suggested that prohibiting marijuana in the U.S. has not shown to be efficient or effective.  Ã‚  

QUANTITATIVE METHODS IN BUSINESS & MANAGEMENT Coursework - 1

QUANTITATIVE METHODS IN BUSINESS & MANAGEMENT - Coursework Example Wales had a small representation in the study with only 5 percent. The pie chart below further illustrates the representation by state. The age of the respondents is shown in the table above. The age ranges from 18 years to 97 years. There were those who also did not know their age were grouped as DK/Ref/NA/. The highest number of respondents was of the age 65-97 years. The age between 18-24 had 12.1 percent representation. The pie charts before shows the age representation of the respondents. The above table shows the marital status where most of the respondents are married or living as married with 62.3 percent. There were also another 21.2 percent of those who said they never been married. Widowed were 6.8 percent while those who were separated or divorced had 9.7 percent. The table above shows the views of the respondents on issues of Censorship of films and magazines is necessary to uphold moral standards. 17.8 percent and 43.2 percent of that respondents said they agree and strongly agree respectively. There were only 12.6 percent of the respondents who disagreed while 3.7 who strongly disagreed. There were 21.4 percent remained neutral while 1.3 percent did not answer. This question was about readership of the newspaper in UK, from the statically data above, most of the people in UK stay with paper with those with no paper being 60.4 percent. Tabloid has a readership of 25.9 percent; broadsheet had 13.1 percent while those who read other paper had 0.5 percent. This means that most of the people do not read newspapers. However, among those who read it go for tabloid compared to broadsheet. The above question wanted to know the opinion of people of UK what the government should do between spending and tax. Most of the people wanted the government to keep spending and taxes to be at the same level with 54.5 percent which is more than half of the respondents. There another group of people who felt that taxes and spending

Advertising and promoting Essay Example | Topics and Well Written Essays - 1500 words

Advertising and promoting - Essay Example Marketing techniques are of very great importance in the promotion of various products at the local as well as in the international spheres. The mode of marketing and the medium used to market these products often play a key role in determining the number of people reached by these advertisements. However, the cost of airing certain advertisements in certain media is also a factor to be considered in this case. Moorthy (1988) argues that the type of medium chosen should therefore be that which can be accessed by most people as well as cheap in terms of the funds required to air an advertisement for a given period of time as compared with other media options. Some media house cover only limited areas and are not therefore suitable for an advertisement that requires a large number of people to reach (Moorthy, 1988). Depending on the type of promotion one wants to make and the target population, the choice of a media house is of prime importance to this task. For an international promot ion, the channel that is viewed by the international community should be the better option. On the contrary, a local promotion expected to reach just a few selected population should make use of a local channel that reaches most people in the region targeted. This paper will look at the choice of various media channels in carrying out marketing promotions over the others depending on the type of promotion to be made and the number and location of target population Marketing Communications (Advertising & Promotion: Media) As has been mentioned earlier, the choice of a media channel to be used in carrying out any type of promotion really matters a lot as far as the cost, location and target population is concerned. To illustrate this, I will use the choice of making promotions for a major launch of a new environmentally friendly, ‘greener’ car from a renowned vehicle manufacturing company in the world, the Toyota Company. Here the choice of the channel may be very difficu lt given the large number of the target population to be reached by these advertisements. Being an international promotion therefore, the channel hat is to be used in this case should be that which is common among most people across the globe. For this reason, my choice for this particular advertisement is preferably the current leading world news broadcasting television, The BBC Channel. Given her long standing existence as a world news broadcasting channel, the BBC channel has gained world wide fame as a reliable news house across the world. It therefore has the largest number of viewers across the globe giving the company a good number of people to reach with the news (Heard, 2004). The Toyota Company is known to have had a long history in car manufacturing in the world history. The company’s products are consumed by a large number of buyers in all the continents of the world. In order to reach her widely scattered myriad of customers and the available amount of money she has planned to se for airing the adverts, 50 million pounds, the company needs to select the channel that has a large area of coverage too and which is actually popular among the world populations. Using the BBC news channel therefore would be the best option in this case. Even though making advertisements on this channel may prove quite expensive, the amount of money the company has channeled towards this is certainly enough to accomplish the task and realize the target the end of the day. However, n most of the third world and developing countries, only a few homesteads will bin a position to afford the expensive gargets for transmitting the BBC news and so will be potentially left out. Besides, most people do not speak English as their first language while others do not understand English at all and therefore may not be catered for during the promotion since BBC uses only English as a medium for communication. For small scale businesses for instance a small scale restaurant which wants to re- open her

Uk and Eu have created a legal and regulatory system that encourages Essay

Uk and Eu have created a legal and regulatory system that encourages the adoption and growth of e-commerce - Essay Example 41). This piece of research paper addresses the regulatory activities of UK and EU in last 15 years to encourage the adoption and growth of E-Commerce and how it has provided a framework to protect the rights of consumers. An Overview of EU’s E-Commerce Directive In 2000, European Union has first adopted regulations to foster E-commerce throughout the regions of EU (Plotkin, Wells and Wimmer, 2003, p. 14-60) and in 2002 it also has set certain rules and regulations in order to provide consumers within the EU with more comforts in buying of goods or services from online. One of the very fundamental objective of this regulation was to ensure that customers’ rights are protected. These rules and regulations have clearly defined how the protection can be applied. The protection applied only to those consumers who visited a commercial website setting specific directions regarding how a business should operate its website and virtual business environment (Sparrow 2009, p. 41) . According to EU regulations, every company that operates a virtual website must adhere strictly to the rules and regulations if the business offers good or services to its customers online. When a business fails to strictly comply with these regulations, the business will be legally liable and will be prosecuted accordingly. EU’s regulations about E-Commerce has been considered to be a cornerstone in electronic marketplace. These regulations, often termed as E-Commerce Directive or Distance Selling Directive, were established in 2000 to foster the expansion of E-Commerce by developing a ‘country of origin’ rule that promoted free movement of E-Commerce within the EU member countries. The regulations have defined the limit of how extent one member state may regulate electronic commercial activity entering its boarders from another member state (Plotkin, Wells and Wimmer, 2003, p. 14-60). Sparrow (2009, p. 41) stressed that the E-Commerce directive developed by E U was to encourage greater use of E-Commerce by removing the barriers throughout the Europe and to enhance consumers’ confidence by making them and businesses aware of their rights and obligations to each others when dealing through online. The regulations were more likely to promote a single market in Europe by developing movement of ‘information society services’ across the European economic area. EU directive as British Law Internet Magazine in 2002 reported that the E-Commerce regulations implemented by EU has also been adopted by UK and considered as its Law. When it has been considered as part of English law, the wide-ranging legislation particularly affected ISPs and how the businesses would be held if they dealt with illegal content on the websites. When UK has adopted the EU directive, the major intentions were to boost confidence in e-commerce. According to UK’s regulations, those businesses that failed to adhere to the regulations have been subj ect to a ‘stop now’ order by which these businesses were forced to change their online-procedures or business practices. EU Directive promoted growth of E-Commerce Computer Weekly in 2003 reported that European Union’s E-Commerce Directive has already increased the take-up of online services and proved highly

Divorce and Children Issue Essay Example | Topics and Well Written Essays - 2000 words

Divorce and Children Issue - Essay Example There is a significant consensus among academic publications that divorce as an event has a net negative effect on children’s experience of wellbeing, but different authors differ significantly as to the reasons why such differences might exist and the long term psychological impact on children of divorce. Public opinion, however, is nearly unanimous in believing that divorce is damaging for children, though some argue that the long term impact might be better. In interviews, people generally state ideas that they have consumed from media (both news and popular) about divorce – essentially saying that the odds are that divorce will be harmful, but significant steps can be taken to reduce or mitigate that harm. Overall, the sources are in remarkable agreement about the effect of divorce on children of divorce. ... gely tried to make sense out of former research: â€Å"we know that adults and children from divorced families, as a group, score lower than their counterparts in married-couple families on a variety of indicators of wellbeing.† This essentially mirrors statements made in each of the other articles; in fact, the other two articles treat the idea that damage is done during the process of divorce as a known fact, for instance McGuiness simply quipping that â€Å"obviously, divorce reverberates in a child’s life for many years,† (2006, 20), and stating that the fundamental â€Å"truth† is that â€Å"marriage offers substantial benefits to children† (McGuiness, 2006, pg. 17). Hetherington’s research also largely concurred, indicating that almost any measure of wellbeing was worse amongst children of divorce than children who were not from divorced households. These researchers differed significantly, however, in their interpretation of why childr en of divorce performed worse than ones who marry. Though each researcher made reference to the tempting notion that there was some sort of selection bias in play (IE that children of divorce were less happy because the family situation of parents who decide to get divorced is likely to have problems that filter down to affecting the child), none of the researches were convinced that this process amounted to the primary reason for the apparent negative impact of divorce. Amato (2000, pg. 1287) even, in his survey of recent research, found that when largely controlling for variables such as family situation and so forth, divorce itself seemed to be problematic, that is that two children in exactly the same circumstance would have differing levels of success based on whether or not their parents were married. Given that selection

Language spoken Essay Example for Free

Language spoken Essay England is filled with a mixture of different dialects and pronunciation. Every area or city has its own dialect pronunciation and specific words only used in that area for example in east London innit. The closer the areas are the more similar they are. In addition people living in a specific area have their own peer groups; these peer groups have their own sociolect. Sociolect basically, means language spoken by a social group, social class or subculture. In this regards it differs to the dialect of that area slightly. Every person in that peer group has their own idiolect. Idiolect means a variety of language unique to an individual. It is manifested when that person chooses the word phrases or idioms which are unique to an individual. The idiolect you speak is influenced by many factors, for example the area you live in, where you are from and who is in your peer group. These could happen simultaneously which will make your idiolect even more unique. I believe that your idiolect is mainly changed by your geographical location. My idiolect has been changed drastically through the years I have been living. Even though I was born in the UK the first language I was taught was Farsi, this was minor setback however I was able to overcome this issue. As I was sent to school, I renovated this issue and I was able to distinguish both languages and I usually never had to code switch. As I grew my knowledge on the English language increased considerably, however my amount of Farsi I knew increased at a really steady pace. This is because in school I was improving my English as it was a requirement at home this didnt happen a lot, my parents only wanted me to know the basics of my language and that was satisfactory for them. In addition my mum and dad wanted me to fit into society better. They done this by the process of primary socialisation, they told me not to swear, not to code switch so that I do not have to be deviant in school and to speak in standard English. At a very young age of 6-7 I was slightly getting confused with the English language. This is because as I spent time with my peer group they taught me their sociolect, at the time I wasnt educated on this topic enough. For example one day my friend told me when we were inside to Look out as there was a ball flying towards our window at a high speed. As I was not educated, I thought he literally meant for me to look outside luckily I did look outside but the ball missed me. This use of a phrasal verb confused me; this is because phrasal verbs also confuse non-native speakers and I wasnt that educated on this new type of dialect. At this time I started to mix both standard English and my sociolect until I reached 8 years old. At this time I was able to make out the type language I should use in school, the one I should use with my friends and the one I should use at home. Even though I was able to differentiate when to speak each language I still had problems. My English at this time was getting better day by day however my Farsi improvements came at a standstill. When I use to speak to my parents, and I could not find the correct term in Farsi, I had to say it in English. This caused me to code switch even more. This automatically made me speak a mixture of English and Farsi when I went home. Did not finish (deliberate), Mrs Hart please tell me what I should add to improve; what I can to make it even better. I was going to talk about my transcript however I am unable as I want to know the mistakes I have made so that I can make it better with the transcript By Wariss Tamim 10. 8.

Trask New Letter Essay Example for Free

Trask New Letter Essay Human Resource Manager (or name if known) Company Address Date Dear Sir/Madam: I have become aware of an opening in this establishment for a manager, and I would like to be considered for this position. I have spent the past 15 years working professionally with people of all types and personalities, and my leadership and management skills have benefited greatly from the experience. My organizational skills have come to the fore as a Special Events Coordinator. where have been in charge of managing shows and maximizing the customer experience. In addition, I have developed and managed the International Fellowship Program and nurtured corporate relationships between such organizations as GM Motors and F.I.R.S.T. Robotics National Championship. I have also demonstrated a high degree of skill in the management of programs that have led to the re-training of several members of the hotel’s service team. I have also been in charge of the development of the Premiere Level Concierge Check-In system in which partnerships were fostered with security, DME, and housekeeping to increase significantly the standard of service within the establishment. I have enclosed my resume to provide more details of my experience in the managerial field. Please peruse it at your leisure and feel free to contact me using the information provided within this correspondence. I look forward to receiving feedback on the status of my application at your earliest convenience. Thank you in advance for taking the time to review my documents, and have a good day. Yours respectfully, __________________ Joseph M. Trask

Examples Of Soil Pollution Environmental Sciences Essay

Examples Of Soil Pollution Environmental Sciences Essay This Air pollution plays an important role in the life cycle of pollution because air pollution only makes the human beings into lots of defects like asthma, cancer, breathing problem, etc. Not only for the human lives its also affects the animals and greens. When looking to Geographical this Air pollution affects the Ozone Layer and made lots of hole in that and it can cause health problems such as lung inflammation, skin damage, headaches, burning eyes and scratchy throats. High concentrations of certain air pollutants are extremely dangerous and can cause severe injury, cancer, or birth defects. Individuals with respiratory problems, people with heart or lung disease, children, elderly residents, athletes and pregnant women are at high risk for health problems from air pollution. Those who play, work or exercise outdoors breathe pollutants deeper into their lungs, which can increase the chance of negative health effects. Chemicals and particles in the air also reduce visibility and can damage buildings and monuments. Air pollution harms our loved ones, our environment and our property. The frequency of Air Pollution Watch and Warning days indicates our serious (ii) Water Pollution: Water pollution is any chemical. pysical or biological change in thequality of water that has a harmfuleffect on any living thing that drinks or uses or lives in it. When humans drink polluted water it often has serious effects on thier health. Water pollution is not just something that big chemical plants make improvements. This Water pollution also play a vital role in the affects of pollutionthere are sevaral classes of water pollutants; The first are disease-causing agents. These are bacteria, viruses, protozoa and parasitic worms that enter sewage system. A second category of water pollutants is oxygen-demanding wastes; wastes that can be decomposed by decomposed by oxygen-requiring bacteria. When large populations of decomposing bacteria are converting these wastes it can deplete oxygen levels in the water. This causes other organisms in the water, such as fish, to die. A third class of water pollutants is water-soluble inorganic pollutants, such as acids, salts and toxic metal s. Large quantities of these compounds will make water unfit to drink and will cause the death of aquatic life. Another class of water pollutants are nutrients; they are water-soluble nitrates and phosphates that cause excessive growth of algae and other water plants, which deplete the waters oxygen supply. This kills fish and, when found in drinking water, can kill young children. Water can also be polluted by a number of organic compounds such as oil, plastics and pesticides, which are harmful to humans and all plants and animals in the water. A very dangerous category is suspended sediment, because it causes depletion in the waters light absorption and the particles spread dangerous compounds such as pesticides through the water. Finally, water-soluble radioactive compounds can cause cancer, birth defects and genetic damage and are thus very dangerous water pollutants. The safety of our drinking water is often taken for granted in America. In recent years, however, environmentalists and the media have drawn attention to the dangers of ground water pollution and the health risks of lead, chlorine, pesticides, organic chemicals, and various microorganisms that have been found to contaminate our public water supplies. Outbreaks of waterborne diseases are a common occurrence and have involved entire city populations, sometimes leading to serious complications and even fatalities. The potential carcinogenic effects of long-term exposure to certain organic chemicals in our water supplies are under government scrutiny. (iii) Soil Pollution: . Examples of Soil Pollution: Land pollution is the degradation of the Earths land surface through misuse of the soil by poor agricultural practices, mineral exploitation, industrial waste dumping, and indiscriminate disposal of urban wastes. It includes visible waste and litter as well as pollution of the soil itself. Soil pollution is mainly due to chemicals in herbicides (weed killers) and pesticides (poisons which kill insects and other invertebrate pests). Litter is waste material dumped in public places such as streets, parks, picnic areas, at bus stops and near shops. Waste Disposal: The accumulation of waste threatens the health of people in residential areas. Waste decays, encourages household pests and turns urban areas into unsightly, dirty and unhealthy places to live in. Control measure: The following measures can be used to control land pollution: anti-litter campaigns can educate people against littering; organic waste can be dumped in places far from residential areas; inorganic materials such as metals, glass and plastic, but also paper, can be reclaimed and recycled. Two billion hectares of soil degraded According to FAO, human activities have degraded 15% of the earths non-submerged surface. The main cause in the last 30 years has been a desire to boost food production, with erosion being the main threat, affecting 84% of degraded land. Farmland area has grown steadily in developing countries, the exact reverse of what has happened in developed countries. A full 23% of usable land has deteriorated so badly that its productivity has suffered.

Linear And Non Linear Voltage Divider Engineering Essay

Linear And Non Linear Voltage Divider Engineering Essay The report describes an investigation of how linear and non-linear voltage divider type of circuit relies on the application of Ohms law (1). The linear circuit was consisted of series resistors. Separating the total resistance of the circuit into two parts, the circuit functions as a voltage divider across which output voltages, and are taken. The report hence is also study the operation of a voltage divider and finds that the total voltage drop around a single close path divides among the series resistors in amounts directly proportional to the resistance values (2) so the formula where and are the output voltages across the resistance and respectively was derive. The investigation was conduct under range of DC and AC input voltages so the ratio between the output voltages was compared to the required ratio of 2:1. This was successfully matched within the tolerance of  ±5% thus; the proportionality of the output voltages to the input voltages proves the linearity of the circuit and it applicability to Ohms law. The non-linear circuit was consisted of 1kà ¢Ã¢â‚¬Å¾Ã‚ ¦ resistor and a filament bulb. The investigation was conduct under range of DC and AC input voltages and shows that the recorded measurement of the output voltage across the bulb, , was not showing linear trend with respect to the input voltage, . Inspection of the IV chrematistic of the filament bulb shows that the bulb is a non-ohmic conductor. Looking at the linear band the resistance of 61.2 à ¢Ã¢â‚¬Å¾Ã‚ ¦ was found Introduction Work objective Choosing the right apparatus and components is essential when designing electronic circuits. This needs to be done carefully so the measurements will be as accurate as possible. This report aims to find a procedure of choosing the right resistors and the method of using them. This concept together with how to recognise resistors values, measuring potential difference across a component and the physics of the filament bulb will be examined in the background to the experiment work. Understanding the specification set out in the task is key factor in completing the practical work. The report will examine the theory applied to the voltage divider and by using the definition of current, voltage, electrical resistance and power, the report will obtain the voltage divider formula and the assumption that these formula are based on. The report will then present the prediction based on the theory. The report will show the method of how the wide range of reading is to be taken and explain which variables are going to change and which variables will be kept the same. Also, the particular method to test the prediction and completing the exercise script will be presented as well as the reason for why this method was chosen. Finally, the report will analyze one of the simple basic circuits: the voltage divider. The report will evaluate the evidence and procedures and a comment on the accuracy and reliability of the result. The last section will suggest ways the measurement could be made more accurate and reliable and how this experiment might be extended. Background to the experimental work RESISTOR POWER RATINGS The amount of power in a resistor is important because the power rating of the resistor must be high enough to handle the expected power in the circuit. The resistors used in this experiment are type CRF16. These have small case size and full power rating of 0.25 W. To specify the required minimum resistance the following procedure is adopted: Determine the total resistance: The total series resistance, , is the sum of all resistors in the series circuit. Next, the current, , need to be calculated. When resistors are connected in series and a voltage is applied across the series connection, there is only one path for current; therefore each resistor in series has the same amount of current through it. Using Ohms law which states that the current is directly proportional to voltage and inversely proportional to resistance (1) the equation: where, is the source voltage is derive. Then the power, , in each resistor is: Substituting (1.1-2) into (1.1-3), the following equation is obtained: rearranging to rescue : THE RESISTORS COLOR CODES The resistors used in this experiment are common fix resistor constructed using carbon film. The resistive carbon evenly distributed along the high-grade ceramic rod. In order to differentiate between the resistors value and confirming the values and tolerance when they are connected to the circuit, a color coding system is used. The resistors used in this experiment are coded with four bands. The first and the second band closer to the end represent the first and second digit respectively. The third band represents the multiplier, i.e. the number of zeros following the second digit. In this experiment the last band represent tolerance value of  ±5% and it is a gold color. The table in appendix 3 shows the resistance value of a resistor with 4-band color code. MEASURING VOLTAGE A DMM has a floating common, so it can be connected to any point in the circuit and read the correct voltage between the two leads. Measuring voltage with oscilloscope may create a grounding problem since the generator and the oscilloscope have a common ground. The problem occurs when trying to measure the voltage across the component that is not connected to ground. Trying to do so, will effectively short out of the circuit all the components that connected from the terminal at which the measurement is taken to the ground terminal and the voltage measured is meaningless. This is become very important when current sensitive components like the filament bulb are connected in the circuit. The resistor is therefore the current limiting impedance. Shorting out the resistor could raise the current to levels that could cause permanent damage to the bulb. The solution to the problem is usually to recognise the grounding points of the circuit and connecting the oscilloscope to these points only. To find out the voltage across the component which is not connected to ground, the method used is to subtract the measured volt age from the input voltage THE FILAMENT LAMP (7) The filament is made of tungsten wire and it is essentially a device for converting electrical input energy into an output of radiant energy in the form of light and heat. According the temperature at which the filament glows will determine the appearance of the light emitted. The tungsten wire is very fine in diameter; the wire is coil as shown in Fig. 1.1.4-1. The closer the spacing of the coils the hotter the filament can operate. The filament lamp to be used in this experiment is yellow filament lamp size 4mm and it is rated at 12V, 30mA with output energy of 0.7 Lumens. The ideal operation condition for AC is stabilized 50Hz. This bulb is sensitive to operation with DC as the one direction current flow causes an effect named DC notching where the filament wire is becoming weak. The report will define the metal (tungsten) filament lamp device by the current voltage (I/V) characteristics and will explain the difference in behavior of the tungsten filament light bulb. Figure .1.4-1 Single Coil filament (7) UNCERTAINTY IN CALCULATED VALUES (8) The arithmetic mean ratio, , will be calculated by the following equation: (1.1.5-1) where can have any integer value, is the number of observations and represent any of the observation. Having obtained a mean value, , the precision of the experiment will be quantified by using the equation for standard deviation, , for the special case where all data points have equal weight (1.1.5-2 ) The standard deviation, defined by Eq. (1.1.5-2) provides the random uncertainty estimate for any one of the measurements used to compute . The standard deviation of the mean value of a set of measurements , when all measurement have equal statistical weight is given by The results in this report will be stated in term of the percent or fractional uncertainty, . Multiply by 100. The relationship between and is as follows Theory Governing equations This section will consider a single-loop circuit, as shown in figure 2.1-1 in order to develop the equations relative to the experiment. The direction of the resistor voltages and current are marked according the convention set by Ohms law: Electron flow current is defined to be into the negative side of each resistor and out of the negative side of each resistor and out of the more positive (less negative) side. With regards to the source electrons flow current is defined to be out of the negative side of a source and into the positive side. Figure .1-1 Single-loop circuit with voltage source vs. Using Kirchhoffs current low at each node. The following four equations can be obtained: (2.1-1) a: (2.1-2) b: (2.1-3) c: (2.1-4) d: Each of these equations can be derived from the other three equations. Since the current is the same at all point in a series circuit the following equation is noted: so that the current can be said to be the loop current and flows continuously around the loop from a to b to c to d and back to a. The connection of resistor is Fig 2.1-1 is said to be a series connection since all the elements carry the same current. In order to determine, we use the principle of superposition where voltage sources in series add algebraically and Kirchhoffs voltage low around the loop: The sum of all voltage drops around a single closed path in a circuit is equal to the total source voltage, in that loop. (2.1-5) where are the voltage across the resistors . Also from Kirchhoffs voltage law: The algebraic sum of all the voltages (both source and drops) around a single closed path is zero. The voltage drops in a circuit are always opposite in polarity to the total source voltage. Eq. (2.1-5) can be written as: (2.1-6) Using Ohms law for each resistor, Eq. (2.1-6) can be written as: Solving for , we have Thus, the voltage across the nth resistor is and can be obtained as A voltage drop results from a decrease in energy level across the resistor. A voltage divider is a series arrangement of resistor connected to a voltage source. Thus, the voltage appearing across one of a series resistors connected in series with a voltage source will be the ratio of its resistance to the total resistance. This circuit shown in Fig 2.1-2 demonstrates the principle of voltage division, and the circuit is called a voltage divider or potential divider In general, the voltage divider principle is represented by the equation where , is the voltage across the nth resistor of N resistors connected in series. A voltage divider is so named because the voltage drop across any resistor in the series circuit is divided down from the total voltage by an amount proportional to that resistance value in relation to the total resistance. Comparing the circuit shown in figure 2.1-1 and the circuit shown in figure 2.1-2, the current are identical when and the resistance is said to be an equaivient resistance of the series connection of resistors and . To determine the resistance and required so that the ratio between the voltages cross and will be 2:1 we consider the voltage across the first resistance And across the second resistance The lab script desire, so division of the first equation in the second results The constant of proportionality is called the gain of the voltage divider. The value of the gain is determined by the resistance RA and RB (4) Choosing the value of the resistors. It wasnt possible to chose values The total resistance between any two points in a series circuit is equal to the sum of all the resistors connected in series between those two points. In our simple circuit if the voltage source connected to a resistance Rx and Ry as shoen in figureà ¢Ã¢â€š ¬Ã‚ ¦, for this circuit If all the resistors in a series circuit are of equal value, the total resistance is the number of resistor multiplied by the resistance value of one resistor. The total power in a resistive circuit is the sum of all the individual powers of the resistor making up the series circuit. Ground (Common) is zero volts with respect to all points referenced to it in the circuit. Negative ground is the term used when the negative side of the source is grounded. Positive ground is the term used when the positive side of the source is grounded. The voltage across an open component always equals to the source voltage. The voltage across a shorted component is always 0 V. The circuit constructed was consisting of series string of resistors connected to a voltage source. Although there can be any number there are two voltage drop across the resistors: One across R1 and one across R2. These voltages drops are V1 and V2 respectively, as indicated iun the schematic. Since each resistor has the same current, the voltage drops are proportional to the resistance value. For example if R2 us twice of R1. Then the valye of V2 is twice that of V1. The total voltage drop around a single closed path divides among the series resistors in amounts directly proportional to the resistance value. The voltage divider is an important application of series circuits. This report will derive and apply the voltage-divider formula in order to obtain ratio of 2:1 between output voltages. A series circuit can have only one path for current. The total resistance of a series circuit is found by the following equation: Kirchhoffs voltage law Total power If three equal resistors are used in a voltage divider, the voltage across each one will be one-third of the source voltage. A potentiometer can be used as an adjustable voltage divider. The essential circuit of a voltage divider, also called potential divider is: The voltage divider equation can be written as The power dissipated by the resistor in a series circuit is the same as the power supplied by the source. The theory applied to the circuit consists of a few calculation to develop a formula for determining how the voltage divided among series resistors. The resistance between two terminals can be considered as one part and the resistance between other two terminals can be considered as another part. The knowledge of how the filament lamp behaves under varying conditions of current and voltage is essential in building electronic circuits consists of the filament lamp therefore characteristic would be shown as a graph of the current (y-axis) versus voltage (x-axis) for the filament lamp. It will show how the electric current flowing through the component varies as the voltage across the filament lamp is gradually increases by the experimenter. The electric current in this experiment is the dependent variable i.e. it is dependent upon the voltage setting chosen by the experimenter. Assumptions statement The resistors used in this experiment are given with a certain tolerance of 5% The exact resistor values dont matter, so long as their ratio is correct The formula and the approximate rules given above assume that negligible current flows from the output. This is true if Vo is connected to a device with a high resistance such as voltmeter or an IC input. Experimental procedure and results Experimental procedure APPARTUS AND COMPONENETS To carry the experiment the use of the following apparatus and components is required: Breadboard Black wire to connect between the circuit and the negative supply terminal Red wire to connect between the circuit and the positive supply terminal EL302Tv DC Power Supply to supply DC voltage MTX3240 5MHz Signal generator TDS2002B digital oscilloscope to measure the output AC voltage Fluke 115 digital multimeter to measure output DC voltage Resistor Carbon Film 5% 0.25W brown-black-red-gold Resistor Carbon Film 5% 0.25W brown-black-red-gold Resistor Carbon Film 5% 0.25W brown-black-red-gold Filament lamp T1.25 12V 30mA, bi-pin 2 Croc Clips T-Piece Electronics Test Probe REPERTORY OF METHODS The set up of the apparatus needs to be done correctly and skilfully. The quantities measured are Checking for errors in the measuring instruments and the need to take action should errors are found This experiment begins with the three 1 kà ¢Ã¢â‚¬Å¾Ã‚ ¦ carbon film resistors with tolerance of 5% and power rating of 0.25W. Confirming the right resistors are used by comparing it with 1 kà ¢Ã¢â‚¬Å¾Ã‚ ¦ colour coding: Brown-Black-Red-Gold and measuring and recording their values as R1, R2 and R3 Connecting the two legs of the resistors in series on the bread board. Connect the bread board to the power supply and the multimeter as shown in figure . the negative terminal of the power supply and the red probe to the positive terminal of the power supply to record the source voltage Vin, move the red probe to the terminal point A to record the voltage drop across R1. To record the voltage across the upper resistor change the multimeter connection to the circuit as shown in figure. noting the voltage drop across the other two resistors as V2 The main function of the 1 kà ¢Ã¢â‚¬Å¾Ã‚ ¦ resistor in this circuit is to control the current and the voltage across the lamp. If too much current flow through the filament lamp it is destroyed so the resistor is used to limit the current. Connect the circuit on the bread board as shown if figure below Measure the source voltage, VS and the voltage across the filament, Vf for different Source voltage as shown in table 2. Calculate the current, If using Ohms law. Calculate the resistance of the filament Rf Vs(V) Vr (V) IF=VR/R (A) VF(V) RF=VF/IF (Ohm) 2 4 6 8 . . . Table 3.1.2 I-V characteristics of a filament Plot a graph of Vf versus IF and find the resistance of the filament at two points A and B specified below: Resistance at A (Vf=1V), RA= Resistance at B (Vf=3V), RB= It is clear that the resistance at B is greater. This is because Results [The results that appear in this section will be those on which the discussions will be based and from which the graphical plots will be represented. Results will normally have the units of the SI, although some may have traditional units, e.g. motor speed/rpm.] Table 2 Amplifier gain as a function of frequency from the measurements of input signal amplitude and output signal amplitude the voltage gain has been calculated as shown in Table 2 Axes shall not have arrow heads at their ends, and division marks on an axis shall not be closer than 20 mm. Data points should preferably be shown by small circles, squares or triangles with a dot in the centre; crosses, either vertical or inclined, may be used when all other options have been exhausted. Do not use colour to differentiate between curves on the same figure; use different legends (e.g. circle and square) and perhaps different line types (e.g. continuous and broken). Give a legend key to describe the curves. Keep a figure free from extraneous text and lines, such as a right angle and a calculation to determine a slope. It would also help to show a thin lined grid. Discussion Interpretation of and/or commentary on the results The discussion is the interpretation of and/or commentary on the results and the reasoning on which the conclusions are founded. For example, in a figure showing the variation of voltage gain of an amplifier with frequency might exhibit a slight increase in gain at high frequency before the main fall off in gain. Your text in the discussion should give reasons for this behaviour. A variable resistor which can be varied by moving a knob or slider could also be used for this experiment. Connecting the pots three leg so it could act as a potential divider. Adjusting the potentiometer mechanism until the voltmeter register exactly 1/3 of total voltage between the wiper and the positive terminal and checking that this ratio maintain for double the voltage. Precision estimation It is in the Discussion section that an estimate of the precision of your results should be given. Conclusions The conclusions represents a clear and orderly presentation of the deductions made after full consideration of the results of the work. .. the details of an involved argument or result should not be included. Making sure that the power ratings of the resistors are adequate for the application Not all componenets obey Ohms law for the variation of current with voltage. Ohms law describes the behaviour of metals but even for these materials the law is only obeyed under very specific conditions of constant temperature and pressure. Thus Ohms law describes obly the behaviour of one type of material (metals) under very specific conditions. The voltage divider is a very important basic circuit. The voltage divider is a very simple circuit that can be highly accurate if not loaded down. Understanding the principle of voltage divider helps in designing sensor systems and guide how to provide reference voltages to an electronic circuit in an analog-to-digital converter. use resistors in an appropriate configuration. low resistance values will draw a significant amount of current from the original source. This is probably acceptable if the original source is an electronic power supply, but not if its an actual battery. Thus, this use of a voltage divider is reasonable and appropriate in some circumstances, but not in all cases The proportionality of voltage drops (ratio of one to another) is strictly a function of resistance values. the voltage drop across each resistor is also a fixed proportion of the supply voltage. The voltage divider is a very important basic circuit, and exploring the calculation above with various values can give you insight into a large number of practical circuit applications. The ratio of individual resistance to total resistance is the same as the ratio of individual voltage drop to total supply voltage in a voltage divider circuit. This is known as the voltage divider formula, and it is a short-cut method for determining voltage drop in a series circuit without going through the current calculation(s) of Ohms Law. Voltage dividers find wide application in electric meter circuits, where specific combinations of series resistors are used to divide a voltage into precise proportions as part of a voltage measurement device. nn linear resistance thus Ohms law is only applicable at the linear band of the bulb resistance which is found to be 61.2à ¢Ã¢â‚¬Å¾Ã‚ ¦. conclusions about the work you did including any suggestions or modifications to the experiment

The Role of Financial Intermediation in Banking

The Role of Financial Intermediation in Banking Financial intermediaries exist to solve or reduce market imperfections such as differences in preferences of lenders and borrowers, transaction cost, shocks in consumers consumption and asymmetric information. Theories developed to explain how financial intermediaries reduce market imperfection: Asset transformation Transaction cost reduction Liquidity insurance Informational economies of scale and delegated monitoring Asset Transformation Asset transformation is a process performed by financial intermediaries to transform particular types of assets into to others. This is to satisfy the need of borrowers for long term capital and the need of lender for high degree of liquidity in their asset. Financial intermediaries transform the primary securities issued by firms into indirect securities by lenders. They issue liabilities (deposit claims) which are short term, low risk and high liquidity, and use parts of these funds to acquire larger, high risk and illiquid claims. 3 Main Transformations Maturity Transformation As the liabilities of financial intermediaries mature faster than their assets, financial intermediaries mismatch the maturity of the assets will maturity of the liabilities by making long-term loans and fund them by issuing short-term deposit. Size Transformation The amount required by borrowers are much more than the amount made available by lenders. Financial intermediaries will then collect and combine the funders from lenders as required by the borrowers. Liquidity Transformation Financial intermediaries provide financial or secondary claims or loans. Deposits which are held under liabilities of banks balance are low risk and high liquidity, while loans which are held under the assets of banks balance are riskier and illiquid. To hold liabilities and assets of different degree of liquidity, financial intermediaries will diversify their portfolios. More diversification will lower the default probability. Risk Transformation Financial intermediaries must be seen by the lenders as a safe place to make deposits. However, the loans made by the intermediaries to the borrower bear some default risk. Therefore, financial intermediaries have to transform risk to reconcile the preferences of borrowers and lenders. Firstly, banks use credit scoring to select good borrowers with good repaying loans history to minimize the risk of loss of each loan. Second is to diversify risk by lending to different types of borrowers. Banks try to avoid heavy concentration on an economic activity or on a particular area. They also limit the amount that can be loan out. Example: From 1985-1989, 400 Texan banks failed which are resulted from heavy concentration on their loan portfolio in real estate dependent on the oil businesses. Third is by pooling risks. Variability of losses can be reduced by making loans to many borrowers. Although by making out many loans does not reduce the loss in the portfolio of loans overall, but it increase the bank accuracy of prediction and limits maximum loss for which the intermediaries has to allow. How financial intermediaries reduce transaction costs? Financial intermediaries reduce transaction costs by internalizing them. They make network and information system available to lenders and borrowers. As such, lenders and borrowers do not have to find a suitable counterpart each time they want to make a transaction with the other party. Financial intermediaries also provide standardized products which help to reduce the information cost related with scrutinizing individual financial instruments. They also use tested procedures and routines. Theory of transaction costs Economies of scale refer to the transaction costs per dollar of output is reduced as the number of financial transactions increase. Example: When using loan contract for many loans, the unit cost of a contract per loan is lower than a loan contract drawn up individually when undertaking direct lending. Economies of cost refer to the cost of producing at least 2 products together is lower that producing them individually. It is concerned with deposit and payment services, because deposits are legal financial claims which allow banks to collect funds to sustain their lending activities and satisfy the request of making payments. Expertise They developed expertise to lower transaction cost. Financial intermediaries such as banks and mutual funds develop in information technology such as ATM to provide liquidity service. Asymmetric Information Adverse Selection It arises when borrowers who are likely to produce undesirable results are the one who are actively seeking loans, because they know that they are unlikely to pay it back. Adverse selection increases the probability that the loan might become a bad credit risk. Hence, lenders may decide not to loan out, even when there is good credit risk. Moral Hazard It is the risk that occurs after the transaction has been made. It is the risk that the borrower may engage in activities which is undesirable from the lenders point of view because there a likelihood that the loan will not be repaid. Therefore, lenders may decide not to make loan. How adverse selection influence financial structure? Equity Market When borrower wanted to make investment and yet is unable to distinguish between good and bad firms, he is only willing to pay the price the price that reflects the average quality of firms. However, the firms have more information than the investors and will know the quality of the projects. Good firms will not be willing to sell the securities because they know that their securities are undervalued. Only bad firms are willing to sell their securities at the average price because the price is higher than the value of bad firms securities. However, investors may not want to buy securities from bad firms and end up decides not to buy any. Bond Market A potential investor will only be willing to buy a bond if the interest rate is high enough to compensate him the average default risk between the good and bad firms. Good firms will not want to borrow funds because they know that they are less risk adverse and should not pay an interest that is higher than what they originally should pay for. Only bad firms are willing to pay for such interest rate. However, investor does not wish to buy bond from bad firms. Subsequently, there will be fewer bonds sold in the markets. Tool used which helps to reduce or solve adverse selection problems Private production and sales of information Government regulation to increase information Financial intermediaries Private companies such as Standard and Poors, Moodys and Value Line gather firms financial position and investment activities, and sell them to potential investor. Such information will help investors in making more accurate investment decisions. However, this does not completely solve the asymmetric problem because of the free-rider problem. The free-rider problem occurs when individual who do not pay for the information take advantage of the information of which others has paid for. An investor who has paid for the information knows which the are good firms. He decides to buy securities of good firms that are undervalued. The free-riding investors observe which securities is the investor who paid for information is buying, will buy the same securities. This leads to increase in demand of the securities and soon the price of that security will increase to reflect the true value. As a result, because of these free-riders, the investors who bought the information will not benefit. As such, he will realize that he should not buy the information in the first place. If other investors also realize this, private companies may not be able to make enough profit from producing the information, and less information is produced in the market and so adverse selection will interfere with the efficient function of securities markets. Government regulation to increase information Government could regulate financial markets to ensure that firms disclose all information so that investors could distinguish between good firms and bad firms. In United States, the Securities and Exchange Commission (SEC) is the government agency that requires firm selling securities to be certified in adhering to standard accounting principles and disclose honest information about their sales, assets and earnings. But, government intervention on disclosing information does not solve adverse selection completely because accounting principles can be manipulated. Also bad firms can slant information which is required to transmit public to make them look like good firms. By doing so, they can get higher price for their securities. Thus, investors will have problem again to identify which firms are the good ones. Financial intermediaries Financial intermediaries such as banks have developed expertise in the production of information so that they can evaluate the quality of firms better. Banks produce information through the transactions on the borrowers bank accounts. From the transactions, banks will be able to determine the suitability of credit and ability to repay the loan. Banks then acquire funds from depositors and lend them to good firms. By lending the money to good firms, banks will be able to earn a higher return than they pay to depositors. Banks will then earn profit and can continue in producing information. Also, banks can make profit because it can avoid free-rider problem. They make private loans which are not traded in open markets. As such, other investors cannot follow what the bank did and bid the price of loan where the bank does not get any gain for the information it produces. Fact: Banks are important to developing countries. When banks produce information, the problem on asymmetric problem is less severe, and it will be easier for firms to issue securities. Information in developing countries is difficult to get as compared to developed countries. Therefore, banks have to play the role in producing information. Collateral Collateral which is property that promised to the lender if the lender default, reduces the adverse selection problem because it reduces the lender losses if the borrower goes into default. How moral hazard influences financial markets Moral hazard occurs after the transaction takes place. It is the risk that the borrower may engage in risky activities which is undesirable from the lenders point of view, because the loan may be unpaid. Because of the presence of moral hazard problems, firms find it easier to raise fund with debt instruments rather than with equity contracts. Moral hazard in equity contracts Equity contracts subject to a type of moral hazard known as principal-agent problem. In a firm, there are managers and stockholders. Usually, managers and stockholders are different people. Managers are the ones who have more information than the stockholders while the stockholders own most of the firms equity. The separation of ownership and control and with the presence of asymmetric information, managers may act in their own interest rather than the interest of the stockholder because managers have fewer incentives to maximize the profit that the stockholder do. Tools to help reduce/solve moral hazard in equity markets Production of information: monitoring To reduce moral hazard problem, stockholders can engage in the monitoring of the firm activities by auditing the firm frequently and checking on what the management is doing. However, monitoring can be very costly. (Monitoring is a costly state verification). This also explains in parts why equity is not an important element in the financial structure. However, this could also cause free-rider problem. Free-rider problem reduces the moral hazard problem. Because, when stockholder knows that other stockholders are paying for the monitoring activities, he can free ride on their activities. If all stockholders share the same mentality, no stockholders will be willing to pay for the monitoring activities. Government regulation to increase information Governments enforce laws to ensure that firms are adhering to accounting standards which can verify the profit easier, and impose penalties on people who committed fraud in hiding or stealing the profit. However, this measure is not very effective because managers have the incentive to make fraud difficult to be proven. Financial intermediaries active in the equity market An example of financial intermediaries is the venture capital firm which cans helps to reduce moral hazard arising from the principal-agent problem. They use fund of their partners to help entrepreneurs in setting up new businesses. In exchange for the use of funds provided by venture capital firm, venture capital firm get an equity shares in the new business. Because verifying profit is important in eliminating moral hazard, venture capital firms usually insist on having several of their own people to participate in the management of the firm. Also, the equity in the firm cannot be sold to anyone but to the venture capital firm. Therefore, other investors are unable to free-ride on the venture capital firms activities on verifying profit. Debt Contracts Debt contract is a contractual agreement by which the borrower promised to pay lender fixed amount at regular intervals. The amount of profit made by firm will not affect how much will the lender be receiving. Therefore, whether did the managers have been hiding or stealing profit or engaging in activities which do not increase the level of profit earned, it is of no concern to the lenders, so long as the firm is able to make payment. Only when the firm is unable to make payment as promised, then will the lenders have to know how much profit is the firm getting. As such, less monitoring is required for debt contracts and therefore, lowering the cost of state verification. This also explains why debt contracts are used more often than equity contracts to raise funds. The concept of moral hazard explains why stocks are not the most important source of financing for businesses. How moral hazard influences financial structure in debt markets Although debt contracts has lower moral hazard as compared to equity contracts, but debt contracts are still subjected to moral hazard. Because debt contracts only require firms to pay a fixed amount and allow them to keep profit above this amount, firms have an incentive to take on risky investment projects Tools to help reduce/solve moral hazard in debt markets Making debt contract incentive-compatible High net worth makes the debt contract incentive-compatible; it aligns the incentive of the borrower with that of the lender. Firms with higher net worth are more likely to act in the way that are desirable form the lenders point of view, and thus reducing moral hazard problem, and it will be easier for firms to borrow. Monitoring and enforcement of restrictive covenants By introducing restrictive covenants into debt contracts, moral hazard problems are be reduced, as restrictive covenants is a provision which restricts firms activities by either ruling out undesirable behavior or encouraging desirable behavior. There are mainly four types of covenants/ Covenants to discourage undesirable behaviors Such covenants restrict firms to use the debt contracts to finance on fixed assets or inventories. Others may restrict firms to engage in risky activities such as acquiring other businesses. Covenants may also disallow firm to issue new debt or dispose it asset, and may also restrict dividend payments if ratios such as leverage ratio, ratio of debt to equity has up to a certain level. Covenants that encourage desirable behavior Such covenants require the borrower to have a life insurance that pays off the loan upon the death of the borrower. Such covenants may also encourage firms to keep it net worth high because firms with high net worth reduce the moral hazard problem. Hence, it minimizes the chance that the lenders may be making losses. These covenants require firms to maintain minimum holding of asset relative to the size of the firm. Covenant to keep collateral valuable Such covenants encourage borrower to keep the collateral in good condition and it must be in the possession of the borrower. Covenants to provide information Such covenants provide information about its activities periodically in the form of quarterly accounting and income reports. Such covenants may also allow the lender to audit the firms anytime. This explains why debt contracts are complicated legal documents with restrictions on borrowers behavior. Covenants reduce moral hazard but do not eliminate them, as it not difficult to rule out every risky activity. Also, to ensure that firms are complying with the covenants, monitoring must be enforced. However, monitoring is very costly. Investors may free-ride on the monitoring activities undertaken by other investors. Financial intermediaries, particularly banks are able to avoid the free-riders problems