International Financial Markets Essay Example | Topics and Well Written Essays - 2250 words

International Financial Markets - Essay Example Reasons for this trend are the fiscal stimulus packages, nationalization of private-sector debt, and reduction in tax revenues (Nelson, 2012). While government securities are considered close to risk-free, there have however been worries in 2010 that U.S. municipal bonds may default because of lack of liquidity, a fear which proved unfounded (MeritWealth, 2011). When the government requires high levels of borrowing, it tends to raise the yield on its bonds in order to attract investors. In a low interest environment, high-yield bonds become attractive to investors because the present value of high-yielding bonds makes the bonds more valuable when traded in the open market. However, by increasing the yield on its bonds the government crowds out private business and credit tends to become more costly – that is, added risk premiums increase interest rates over that offered by the government, discouraging private borrowers from resorting to bond financing because of the higher def ault risk involved. The result is a credit crunch that reduces funding to business and slows down productive activity, eventually causing downsizing, lay-offs and company closures. The central bank resorts to quantitative easing to introduce liquidity in the economy to spur nominal spending; this is done by purchasing financial assets from the private sector. The new central bank money used to pay for the assets increases the money held by banks and increases the level of deposits held by private parties. Quantitative easing is seen to help restore the inflation rate to positive levels when the economy is too weak that deflation (negative inflation) threatens to set in (Benford, et al, 2009). As for other developments, retail bond trading (lower-denominated bonds offered to individual investors) is seen as the better alternative to institutional bond trading. Retail had been growing when institutional was shrinking in the past crisis, due to its lower risk (Kite, 2008). Furthermore, emerging market dollar bond issuance has surged to $100 billion in 2012, as investment funds found safer markets in emerging economies little affected by the subprime financial crisis (Natarajan, 2012). Another alternative is sukuk bonds, which are Islamic financial instruments resembling conventional bonds but, consistent with Shariah law, are not debt instruments and do not pay interest. Instead, sukuk are ownership investments representing â€Å"legal/beneficial interest in specified tangible assets and/or services and/or projects.† Sukuk investments yield pre-determined returns, and specifies profit-and-loss sharing between fund user and provider (Adam & Thomas, 2004, p. 54-55). Contingent convertible bonds, also known as CoCo bonds, are a novel way by which banks may raise capital. These are bonds that automatically convert to equity when a particular trigger takes place, such as when the issuer needs money (Pietersz, 2012; . The CoCo mechanism quickly converts temporar y capital (debt capital, which must be paid back) to permanent capital (equity, which however tends to dilute shareholdings). As for the future of securitisation, there is still a great need for developing securities which businesses resort to for hedging and risk management. However, new regulations have been adopted to ensure that the

Microsoft Word Essay Example for Free

Microsoft Word Essay i »? For M2, the evidence can be taken from anywhere. Learners are not required to learn standard proofing symbols, but are expected to make notes or marks on the original document which indicate what has to be done. Evidence will require the initial documents, the final documents and some indication of authenticity of work. Indications of what would be appropriate are included in the relevant section of the PSA. As part of my continued training in my post I am required to maintain and improve my communication skills. I will communicate review draft documents to produce final versions. Spell checker was one tool that I used to review draft documents. I clicked on the Spelling Grammar option. I then looked to see the options for the misspelt word and then pressed add. I then got a pop up showing that the spelling and grammar were all correct. Spelling and Grammar options are very important to ensure that everything is making sense and everything is spelt correctly. It’s very important that when you hand work in its perfect as if it’s not it will look unprofessional. Sometimes the Spelling and Grammar option may pick out words and spell them the American way. This option should be used with caution. Next I made use of the thesaurus and synonyms options. I right clicked a word that I wanted to change and clicked Synonyms which gave me a list of words I could change it to. Another option is to press Thesaurus on the review section. It does the same as Synonyms. The Thesaurus and synonyms option is very useful if you want to up level words or find other suitable options for specific words. When changing to more complex words it makes your work sound more professional and high level. Lastly, I made use of document tracking options. This is a very important factor when reviewing documentations and can help compare new documents to prior old ones. I chose the Track changed option and changed my document according to how I wanted it to be. I then pressed accept and it showed and highlighted where I had made changed in my document. The Document Tracking Option allows you to track where you have change the document. It also allows you to compare with the previous one so you can decide what you think is better which is very useful. Making use of the reviewing tools that Microsoft word has to offer is very important. Each tool can help greatly when reviewing documents in order to make sure they are at a high level standard that do not include any grammatical or spelling errors that may make the individual look unprofessional. There are many more tools and techniques then the ones listed in this report that can help greatly in the review process. It’s always very important to make sure that there are no errors in the work as the individual needs to show that they are checking their work and are motivated and care about the quality of the work in helping aid and contribute to the company or business. Using all these tools can help aid the review process and can help improve the quality of the work thus helping the quality in which it contributes to the business or company. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Software section.

The Fragility of Freedom Gadamerian :: Gadamer Freedom Essays

The Fragility of Freedom Gadamerian ABSTRACT: This paper examines the nature of freedom in Hang-Georg Gadamer’s hermeneutics. It focuses on the last section of Wahrheit und Methode advancing the hypothesis that Gadamer’s model of understanding is derived from his particular appropriation of the Platonic notion of the beautiful which poses a passive interpretative posture toward the object of understanding and deprives the activity of interpretation the essential creative quality of freedom. I argue that to the extent that the object of understanding presents itself as immediate revelation of truth, the interpreting subject is reduced to a mere acknowledger of truth as opposed to a creative producer. Opponents of teleological ontology and of philosophy of history have been attracted to hermeneutics as a more congenial perspective for the exploration of such issues as truth and right, knowledge and action, necessity and freedom. The appealing claim of hermeneutics is that universality need not be and should not be absolute as an ultimate end of a process of actualisation. In the view of hermeneutics, a determinate universal converts freedom to necessity however much consciousness may mediate activity. That is, even though activity engenders change, consciousness is more an expression of necessity in relation to the absolute than an expression of freedom. Indeed, in this view, teleological mediation between freedom and necessity is no reconciliation but rather a subsumption of freedom by necessity. To rehabilitate freedom, hermeneutics opts for a non-teleological history with an open, indeterminate future. The departure from teleology finds a new non-essentialist ground for truth a nd universality, namely, mutual understanding. In this paper, I examine Gadamer’s notion of mutual understanding, fusion of horizons, to assess the place reserved for freedom. I focus on Gadamer’s appropriation of the Platonic notion of the beautiful as the model of understanding and I argue that such a notion of understanding poses a passive interpretive posture toward the object of understanding, i.e. tradition or contemporary alien culture. In this model of understanding, I shall argue, the latter presents itself as immediate revelation of truth and thereby deprives interpretation of the productive quality which Gadamer would like to attribute it. I begin by providing some theoretical background to Gadamer’s notion of understanding noting its debt to Heidegger’s phenomenological ontology. I then proceed to examine Gadamer’s appeal to the Platonic dialectic of the beautiful as a model for understanding which highlights, to my mind and as I noted, the latent passivity of Gadamerian interpretati on.

Consumer negotiation Essay

Introduction Negotiations have a significant impact on the savings of a customer during the business relationship. The authors of this article assume that the transfer price lies between the manufactures production costs and the maximum retail price and that the negotiations occur in an incomplete and the producer is not sure on the consumer price. Every negotiator has the ability to convince the other that the surplus is smaller than it real is. The article also uses the game-theoretic model (Perry & Grossman 1986)  Ã‚   to predict the outcomes and behavior in a negotiation scenario.   In both experiments described by this article fail to describe the bargaining outcomes and behaviors since the players took too much time to agree.   The authors conclude that the negotiation mechanisms depend on the economic characteristics of the negotiation situation and that social and individual contexts influence the outcome of the consumer negotiation. References Bazerman, M. H. (2001). Consumer research for consumers.  Journal of Consumer Research,  27(4), 499-504.

Ebay Turnaround Strategy Essay

The company known as eBay, which started in 1995, grew significantly within a decade to become the number one e-commerce site in the world by sales revenue. In 2008, Donahoe took over as the new CEO of eBay. This was a time when the company was facing issues with growth and consumer behavior was changing. What used to be a thrilling experience for buyers was now an inconvenient waste of time and money. Consumers who were eager to bid against each other for products online were now satisfied with buying new products at fixed prices. Therefore, ebay’s turnaround strategy was to bring the consumers the best experience to find what they want exactly how and when they want it. Although traditional eBay sellers complained about the difficulty for them to do business profitably with the new strategy, Donahoe believed buyers wanted fixed prices, quick service, and free shipping. I agree with Donahoe’s turnaround strategy because eBay had to focus on the market demands to see growth. Something had to be done in a market where consumers wanted fixed prices and free shipping that they were receiving from companies like Amazon. om. Marketing segmentation is dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing and develops profiles of the resulting market segments. Creating applications for smart phones and tablets was a good way to separate a specific department to its customers. For example, the eBay Fashion app allowed users to browse through products from the fashion department. Buyers were able to take time out of their day and make more purchases with mix and match features. Using the Boston Consulting Group (BCG) method, companies like eBay classify all its SBUs according to the growth-share matrix. Market growth rate provides a measure of market attractiveness and relative market share measures a company’s strength in the market. The four types of SBUs are stars, cash cows, question marks, and dogs. Stars are high-growth, high-share businesses like eBay. When their growth slows down it turns into cash cows, which need less investment to hold their market share. Pepsi is a cash cow in the sense that its not growing but it is making large profit in the meantime. Question marks are low-share business units in high-growth markets. A question mark could be a small garage that does car repairs because it has a small market share but a large demand for car repairs. Dogs are low-growth, low-share businesses and products that may generate enough cash to maintain themselves. An example of this would be a small town theatre business.

Essay Sample on Confucianism and Taoism

Essay Sample on Confucianism and Taoism The Connection between Confucianism and Taoism Confucianism and Taoism are some of the major religions in China. They have greatly influenced the culture of the Chinese people as well as their world view. The connection between the two religions has influenced many people over time. It can also be said that when the principles of both philosophies are put together, the outcome is a well-rounded person. The following is a discussion of the principles and philosophies behind these two religions as well as how the two religions interact and connect to influence an individual. Confucianism is a religion that bases its philosophy and principles on the teachings of Confucius, a Chinese philosopher who lived between 551 and 478 BC. The Philosophy behind Confucianism is humanism. Confucian adherents have a positive view of human beings and human nature. The world in the Confucian religion in seen through the ideal of humanism. This means that adherents of Confucianism hold it true that human beings are improvable, teachable and perfectible. Human beings can become perfect through individual and communal effort for example self creation and cultivation. The general philosophy of Confucianism emphasizes individual and governmental morality, rightness of social relationships, sincerity and justice of the whole community. All adherents of Confucianism should practice ethics that are exemplified by the propagation of virtues or principles. There are many virtues that adherents of Confucianism should follow for instance loyalty, continence, piety, bravery, gentleness, among others. However, there are five fundamental principles in Confucianism that include humaneness (Ren), Righteousness (Yi), Knowledge (Zhi), Etiquette (Li) and Integrity (Xin). Humaneness obliges people to show altruism to other people in a community. This means that one should be loyal to his true nature, should show reciprocity to good deeds, be kind and show piety. Humaneness dictates that people observe the Golden Rule, ‘Do not do to others what you do not want done to 0yourself’. Being righteous means being morally disposed to do good. Etiquette on the other hand is a system of propriety and norms that dictate what proper and improper behavior within a community is. Knowledge means to appreciate the true and deep significance of something. Integrity on the other hand means honesty and standing by ones words. Taoism is a Chinese religious tradition that stresses the importance of living harmoniously with the essence and source of all that exists or the Tao. In Chinese, Tao means the path, way or principle but it can also mean nature or reality. In Taoism, the right path is working in harmony with nature or reality. Taoism ethics stress the three jewels of the Tao which include moderation, compassion and humility. The philosophy of Taoism centers on nature and how human beings should relate with the cosmos. Inner fulfillment can be achieved through contemplation of nature. Nature is like a stream of wisdom and by experiencing it through innocent eyes, we are able to internalize its pleasantness, its intrigue and its excitement and achieve serenity. There are four fundamental principles in Taoism including Tao, De, Pu and Wu wei. Tao in Taoism is the natural, spontaneous, eternal and indescribable way everything began and took course. It is the force that is behind natural order, the natural flow of the universe or that which keeps the universe ordered and balanced. De on the other hand is the integrity, virtue and power that are an active expression of the way or Tao. It is the living out or cultivation of the way. Wu wei, the third principle in Taoism which literally means ‘without purposeful action’. It means effortless doing and the unseen power in all things. In practice, it means that people should not exert their will in the world as this will cause a disruption in the harmony that is within things. Human beings should put their will in harmony with that which is natural or the nature. This way, their objectives would be achieved without effort. Pu in Chinese is translated to mean simplicity. It is used to sy mbolize pure perception and potential without discrimination. Taoists believe that everything should be perceived as it really is without illusions. Pu is the true and pure nature of the mind, uncontaminated by experiences or knowledge. When someone is in Pu, there neither is beautiful nor ugly, right nor wrong, only pure awareness. When the principles of both Confucianism and Taoism combine, they are able to make a well rounded and self actualized person. First off, both philosophers advocate for people to move from having an ‘individual’ attitude and adopt a more communal attitude. Selflessness is therefore advocated for. The greater whole is give precedence over the individual. This is probably the reason why the Chinese as a people are very communal. If people adopted this notion, then a lot of useless conflicts between people would be done away with. This is because according to these philosophies, left to his means, the individual would not only hold himself back but also fragment the society. When individuals come together, the society is made stronger because people do only that which is advantageous to society. If therefore people adopted this principle as taught in both Confucianism and Taoism, the world would be a peaceful place to live in and our political leaders would work for the elec torate instead of protecting themselves and the haves. Another way in which the combination of the two philosophies can help make a well rounded person is that they both advocate for virtues that would make an individual better. While Confucianism emphasizes on humaneness, Righteousness, Knowledge, Etiquette and Integrity, Taoism centers on nature and how it can bring harmony to the human being and society. If one combined the two, he would in essence be a person who does good, follows societal norms and also conserves the environment. This in essence would be a law abiding citizen who respects the role of nature in the world. The environment and nature which we salvage any how would be safe and global warming and the extinction of some species of animals would not be there. Crime would be a thing of the past. The society would be full of well rounded people. Both philosophies encourage people to live well conducted lives, to fulfill all their obligations and duties and balance their lives. This means that people should respect their different roles in social relationships as mothers, fathers, wives, husbands, siblings, friends, relatives, ruler, subject etc. The two religions encourage that one should be able to balance all his roles and perform them to the fullest. This balance is also encouraged in other issues in life as such as there should be a balance between cowardice and courage. Striking a balance between things and observing moderation is makes a well conducted life which is encouraged in both religions. If people adopted the principles of Confucianism and Taoism, issues like violence, negligence, divorce, adultery, deceit would be unheard of as everyone would know their place and execute their roles efficiently. If people adopted Confucian and Taoist principles, we would believe in the inherent potential in human beings to be changed and transformed to be good people. If one went wrong for example, they would really believe they could change and therefore they would work towards becoming better people because they truly believe in transformation. People would be aware of their inner self and cultivate it for the betterment of humanity. Our Judicial and justice systems would also be tailored with this notion in mind, with their primary role being to fully rehabilitate people. If a person combined both Confucian and Taoist principles in their lives, they would learn to appreciate the little things that we take for granted like the sun, the rain, the air and even art among other. Such a person would appreciate uncontaminated beauty and thus give way for art to develop. Such people would use art to unify society. This is the reason why the Chinese appreciate art so much. In conclusion, Confucian and Taoist principles combined would make a person happy, contented, fulfilled and self actualized. It would make a person not to burden themselves with the  insignificances of life but rather to live life to the fullest. The principles of both religions combined would ensure that individual, the society and indeed the world over is focused on what really matters. It would make an individual to be at peace with himself and the society.

All Men are Created Equal †English Informal Essay

All Men are Created Equal – English Informal Essay Free Online Research Papers All Men are Created Equal English Informal Essay All Men Are Created Equal. It is a very choice statement, one I think many people seem to of forgotten during periods of our country’s history. This statement I feel was meant to sum up the vast differences that encompass the people of this country, and at the same time, put them all aside, so we all could live in a state of peace. Yet it ponders me today in the early years of the 21st century, how we could still deny equal rights to people in this country. One specific group that I feel currently are being singled out are Gay Americans. Over our nation’s 200+ year history, there always has been one social element of the population that seems to be singled out during any given time in history. In the 1800’s there was the fighting both politically and literally over the aspect of slavery and African Americans. The early 1900’s brought women under the gun, having to strive for equal treatment under the law. African Americans were again brought into the limelight with the fighting for civil rights and protection under the law in the 1950’s and 60’s. The first decade of the new millennium brings with it political and social conflict with the equal treatment and protection under the law of Gay Americans. Although accurate statistics are impossible to gage, there are an estimated 16.5 million Gay Americans that currently have no federal protection under the law. One area that I feel this impact can most be viewed is in the Hate Crime act, originally passed in 1969 but which has been ratified many times since. This act gives specific groups of the population federal protection against crime, and with it allows the FBI to investigate and prosecute people responsible for crimes against the segment of the population. Currently, sexual orientation is not under the list of covered segments. A definitive example of this lack of protection can be illustrated in the beating death of Matthew Shepard, a 21 year old student in Wyoming that was severely beaten and tied to a fence and left to die. His accusers were put on trial, but were unable to be prosecuted at the federal level, because even though this was a hate crime, the elements of the case did not allow it to fall under federal juris diction because the classification of sexual orientation is not under law. Another major right denied to Gay Americans that has become a major subject for fierce debate is the right to marry. Currently, there are over 2000 federal rights that are denied to Gay Americans, simply because they cannot marry; these benefits are as mundane as being able to visit a loved one in the hospital, to not receiving social security or death benefits. Currently Massachusetts is the only state in America where Gay Americans can now legally wed, but the benefits gained from it are only on the state level, and are not extended to the federal level. The current battle for equality over marriage is reminiscent to that of the anti-marriage laws that were law in many states that banned interracial marriage, and were only recently overturned in the mid 1960’s. With the advent of a Republican controlled Senate and House, many people are concerned with the passing of a constitutional amendment that would ban marriage indefinitely for Gay Americans by declaring marriage in the United States as that between a man and a woman only. President Bush, in his most recent State of the Union address, stated that he supports such an amendment. Though it is questionable whether or not it would pass on the federal level, many states such as Connecticut and New York are planning on debating the issue in the current 2005 legislative session. With many countries around the world passing marriage equal laws for Gays, and having protection laws on the books for several decades, it seems that the United States is falling behind in the race for equal protection for all; kind of ironic since we were the first people to coin the statement for equality for all. â€Å"All Men are Created Equal†; has a nice ring doesn’t it? Research Papers on All Men are Created Equal - English Informal Essay19 Century Society: A Deeply Divided EraQuebec and CanadaCapital PunishmentThe Effects of Illegal ImmigrationPETSTEL analysis of IndiaResearch Process Part OneTwilight of the UAWRelationship between Media Coverage and Social andBook Review on The Autobiography of Malcolm XPersonal Experience with Teen Pregnancy

Wayne LaPierre Biography - NRA Executive Director

Wayne LaPierre Biography - NRA Executive Director Since rising to the top administrative position at the National Rifle Association, Wayne LaPierre has become one of the world’s most recognized faces in gun rights advocacy. LaPierre has served as executive vice president and chief executive officer of the NRA since 1991. He has worked for the NRA since 1977. LaPierre’s position as top administrator of the nation’s largest gun-rights organization has thrust him into the public eye, particularly in politics. As a result, he is both revered by fellow gun rights advocates and a lightning rod for criticism from supporters of gun control. Wayne LaPierre: Beginnings After obtaining a masters degree in government from Boston College, LaPierre entered the lobbying industry and has been a figure in government and political advocacy for his entire career. Before joining the NRA in 1977 as a 28-year-old lobbyist, LaPierre served as a legislative aide to Virginia Delegate Vic Thomas. LaPierre’s initial job with the NRA was state liaison for the NRA Institute of Legislative Action (ILA), the organization’s lobbying arm. He was quickly named the NRA-ILA’s Director of State and Local Affairs and became executive director of the NRA-ILA in 1986. Between 1986 and 1991, LaPierre became a central figure in the gun rights niche. His move to the NRA’s executive director position in 1991 came as gun rights became a central theme in American politics for the first time since the 1960s. With the passage of the Brady Bill in 1993 and the Assault Weapons Ban in 1994 and the resulting fallout of the new gun control laws, the NRA experienced its greatest period of growth since its foundation in 1971. LaPierre’s salary as the NRA’s CEO has been reported at figures ranging from $600,000 to nearly $1.3 million, usually by critics of the NRA. LaPierre has also served on the boards of directors of the American Association of Political Consultants, American Conservative Union, Center for the Study of Popular Culture and the National Fish Wildlife Foundation. An accomplished author, LaPierre’s titles that include â€Å"Safe: How to Protect Yourself, Your Family, and Your Home,† â€Å"The Global War on Your Guns: Inside the UN Plan to Destroy the Bill of Rights† and â€Å"The Essential Second Amendment Guide.† Wayne LaPierre: Praise LaPierre is often revered by gun rights advocates because of his uncompromising defense of the Second Amendment in the face of gun control proposals and anti-gun political leaders. In 2003, LaPierre took on CNN after the cable news giant aired a segment featuring Florida Sheriff Ken Jenne, a former Democratic state representative, and his advocacy for an extension of the Assault Weapons Ban, which was set to sunset in 2004. The segment showed two AK-47 rifles being fired at cinderblocks and a bulletproof vest in an attempt to show how one, purported by CNN to be a target of the AWB, packed more firepower than a civilian model. As a result of criticism from LaPierre, who charged CNN with â€Å"deliberately faking† the story, the network ultimately admitted that the second rifle was being fired into the ground by a deputy sheriff rather than being fired into the cinderblock target. CNN, however, denied knowledge of the target switch. In the aftermath of 2011’s so-called â€Å"Fast and Furious† scandal, in which AK-47s were allowed to be sold to Mexican drug cartel members and later implicated in the deaths of two U.S. border agents, LaPierre became critical of U.S. Attorney General Eric Holder’s handling of the matter and later called for Holder’s resignation. One of the staunchest critics of President Barack Obama’s administration, LaPierre said before the president’s election that Obama harbored a greater â€Å"deep-rooted hatred of firearm freedoms† than any other presidential candidate in the NRA’s history. In 2011, LaPierre declined an invitation to join Obama, Holder, and Secretary of State Hillary Clinton for talks on the subject of guns. Wayne LaPierre: Criticism Not everyone has been amused by LaPierre’s sharp tongue, however. LaPierre’s statement about ATF agents involved in the Ruby Ridge and Waco assaults being â€Å"jackbooted thugs† led former President George H.W. Bush, a lifetime member of the NRA, to resign his membership in 1995. Five years later, even Charlton Heston - the NRA’s president at the time and perhaps its most beloved spokesman ever - called LaPierre’s statement â€Å"extreme rhetoric† after LaPierre said President Bill Clinton would tolerate a certain amount of killing if it meant strengthening the case for gun control.

The aims and Proposed plan of work Essay Example | Topics and Well Written Essays - 1000 words

The aims and Proposed plan of work - Essay Example Proposed plan of work, including its relationship to previous work, with key references. Please avoid excessive use of technical terms, however if unavoidable provide a glossary of terms as indicated in section 4.5. (Please only use the space provided below – no more than 1,000 words and written for a non specialist audience. References may be attached on a separate sheet): To achieve the aims of this thesis, the researcher conducted an analysis of three relevant arbitration laws: the new Saudi Arbitration Law 2012; the former Saudi Arbitration Law 1983; and, the English Arbitration Act 1996 (attached). The researcher is of the opinion that this will establish a clear framework by which the research questions can be addressed since these are the main legal sources of both Saudi and English arbitration jurisdictions. The structure of this study follows a logical approach, beginning with the legal basis of arbitration as represented in the arbitration agreement. It is followed b y the discussion of the arbitral tribunal, which oversees the arbitral process, issues arbitral decision and decide on the arbitral award. Finally, a section will be devoted to third and last stage in the process, which is the outcome of the arbitral process: the arbitral award and its enforcement. The supervisory team suggested to begin the study with the discussion and analysis of the Qualifications of Arbitrator. The reason for this is that the arbitrator qualifications constitute the fundamental framework that outlines the limitations of freedom for parties to arbitration in the selection of arbitral tribunal. Presently, the arbitration agreement is being analyzed and examined. This will include the validity and scope of arbitration agreement, which is expected to shed light on the extent of freedom of parties to arbitration in terms of drafting an arbitration agreement to resolve either standing disputes between them or those that may arise in the future. The next section will concentrate on the extent of freedom of arbitration parties and the arbitral tribunal regarding the selection of procedural rules and substantive law under: 1) SAL 2012; 2) Sharia, as it is considered the applicable law in Saudi; and, 3) under the EAA 1996. In addition, key issues will also be analyzed including the controversial application of the Sharia law such the concepts of Riba and the loss of future profits, in addition to the extent of differences in the viewpoints within Sharia in case one or both of arbitration parties are religiously neutral. The third section will be devoted to the discussion of the arbitral tribunal. This will undertaken by analyzing three important factors: duties, powers and jurisdictions of the arbitral tribunal. Again, this will be carried out in the context of Sharia and SAL 2012, and in comparison with the EAA 1996 and the case laws in the UK. The final stage (PhD) will include the role of national courts and their impact on the success of the ar bitral process. This will be divided into three sections. The first section will analytically and critically examine the role of national courts in the arbitral process in the commencement of and during the arbitral process under the two Saudi and English jurisdictions. Second section will deal with the concept of arbitral award and

Comparative politics Essay Example | Topics and Well Written Essays - 1750 words

Comparative politics - Essay Example The focus of Green political theory â€Å"is usually on two themes: on the role of anthropocentric ethics in reducing the non-human world to merely being of instrumental value to humans; and on the question of limits to growth.† (Paterson, 2001:35). Eckersley (1992) suggests that the defining characteristic of Green politics is ecocentrism, or the rejection of an anthropocentric thought which places value only on humans in favor of one which also places value on ecosystems and all other living organisms. Ecocentrism recognizes the full range of human interests in the non-human world- and not merely the instrumental value of particular parts of nature-, the interests of the non-human world, as well as the interests of future generations of humans and non-humans. Finally, ecocentrism â€Å"adopts a holistic rather than an atomistic perspective†, valuing populations, species, ecosystems and the ecosphere as a whole as well as valuing them individually. Dobson (1990) specifies another defining characteristic of Green politics- the limits to growth argument about the nature of the environmental crisis. Paterson says that Greens suggest that â€Å"it is the exponential growth experienced during the last two centuries† which is the main reason behind the current environmental crisis. (2001:36) Dobson suggests that there are three arguments which are important in this context: first, that technological solutions will just postpone the crisis, but cannot prevent it from happening altogether; second, that the exponential nature of growth means that dangers which have been accumulating over a period of time may suddenly have a catastrophic effect; and third, that the problems associated with growth

Gender Equity in the Classroom Essay Example | Topics and Well Written Essays - 500 words

Gender Equity in the Classroom - Essay Example The role of an educator in an intercultural classroom is to ensure the each and every student in the classroom is able to communicate and amicably work with people from other cultures with tolerance, understanding and respect. The educator has to not only impart information about his / her subject to the student, but they must do so in such a way that every student, irrespective of cultural background can understand what is being taught and does not feel left out or belittled. One aspect that is often left unnoticed in education is gender inequality, which can definitely leave certain students feeling left out or neglected. Whether they are aware of it or not, there is always some discrimination based on gender in every school and by every teacher. Each person has a stereotypical idea of the behavior that should be exhibited by boys and girls and this idea influences their interaction with their students. Numerous studies have revealed that boys are encouraged to be straightforward a nd unreserved and are praised more often for academic performance than girls. A girl is expected to be good at studies while boys do not have the same level of expectations from their teachers. This assumption of a non-physical distinction in their abilities is exactly the bias that needs to be rooted out of educational institutions. A girl is criticized for speaking loudly, while a boy is excused for doing so.

Historical Impact on Working Conditions (HR, Employee Labor and Research Paper - 1

Historical Impact on Working Conditions (HR, Employee Labor and Relations) - Research Paper Example The momentum of ‘cotton culture’ took off with deployment of large number of Black slaves. In 1790, it is estimated that 700,000 slave workers lived around Ohio River and Mason-Dixon Line (Reef, 2007, pp. XVI-XIX). Throughout eighteenth century, factories grew rapidly where profit was the chief motive. Without any legislation to protect workers rights, the situation was quite messy for laborers who often had to work 14 hours a day. Laborers often protested, but could not match the power of employers. In 1835, a strike was organized in Philadelphia for 10 hours in a day work. By the end of civil war, factories were more organized in technical terms with better equipments and tools. Coming up of railroads carried the next level of growth momentum. Yet, labors had little say on their workings. After the civil war, the struggle gained momentum from labors, though in unorganized and uncoordinated fashion. With little or no government assistance, it was tough to move forward (Reef, 2007, p. XIX). Although the term ‘collective bargaining’ was initially used in 1891 by economist Sidney Webb, it was introduced in raw form ever since the inception of trade unions soon after the post civil war period. Collective bargaining is a method of arbitration between firm and the agents of a unit of employees intended at arriving at deals that sets operational conditions. Collective agreements normally specify wage amounts, shift hours, training, security, extra hours pay, and rights to take part in factory or corporation issues. Working conditions slowly improved side-by-side with the growth of trade unions. Many labor legislations were passed that set standard rules for hiring and remunerating labors. The first key event in the US labor history was establishment of the American Federation of Labor (AFL) in 1886. AFL ran on the form of ‘craft unions’ and was conservative in the sense that it did not challenge capitalism per se. Instead, it was

Unit 2 Discussion board Essay Example | Topics and Well Written Essays - 500 words

Unit 2 Discussion board - Essay Example In this assignment, I am going to discuss about the episode of Enron Company and how their leadership used power to commit one of the heinous corporate crimes in the history of the world besides discussing some of the ethical lapses being committed by the organizational of Enron as well as political leadership of the United States of America. The ENRON scandal started as an accounting scandal however behind there is a whole story of power corruption and misuse of resources and powers to conceal and misrepresent the facts. It was discovered that irregular accounting practices which can easily be characterized as fraud were adopted in order to cover up the declining performance of Enron throughout the 1990’s decade. The major players involved in this whole fraudulent activity included not only the top management of the Enron specially Mr. Kenneth Lay, the CEO of the company and Mr. Jeffery Skilling but major role was also played by Enron’s auditors i.e. Arthur Anderson. The creative accounting behind this whole episode was crafted by opening special purpose entities or limited partnerships which Enron controlled. Resultantly all debts and losses that it suffered were transferred to these SPEs and were not appeared on the financial statements of the Enron. With the help of these SPEs Enron not only got the fre edom to move the currency besides having full anonymity which basically helped them to hide the losses it suffered by dumping them into the financial statements of these Special Purpose Entities Apart from being the involvement of the top executives of the company there were reports which suggested the involvement of the Clinton administration during the 1990s era. (Smith, 2002). Not only the involvement of ENRON into concealing the facts, it was also believed that ENRON executives exceeded their original mandate to involve the company into Political affairs even

Historical Impact on Working Conditions (HR, Employee Labor and Research Paper - 1

Historical Impact on Working Conditions (HR, Employee Labor and Relations) - Research Paper Example The momentum of ‘cotton culture’ took off with deployment of large number of Black slaves. In 1790, it is estimated that 700,000 slave workers lived around Ohio River and Mason-Dixon Line (Reef, 2007, pp. XVI-XIX). Throughout eighteenth century, factories grew rapidly where profit was the chief motive. Without any legislation to protect workers rights, the situation was quite messy for laborers who often had to work 14 hours a day. Laborers often protested, but could not match the power of employers. In 1835, a strike was organized in Philadelphia for 10 hours in a day work. By the end of civil war, factories were more organized in technical terms with better equipments and tools. Coming up of railroads carried the next level of growth momentum. Yet, labors had little say on their workings. After the civil war, the struggle gained momentum from labors, though in unorganized and uncoordinated fashion. With little or no government assistance, it was tough to move forward (Reef, 2007, p. XIX). Although the term ‘collective bargaining’ was initially used in 1891 by economist Sidney Webb, it was introduced in raw form ever since the inception of trade unions soon after the post civil war period. Collective bargaining is a method of arbitration between firm and the agents of a unit of employees intended at arriving at deals that sets operational conditions. Collective agreements normally specify wage amounts, shift hours, training, security, extra hours pay, and rights to take part in factory or corporation issues. Working conditions slowly improved side-by-side with the growth of trade unions. Many labor legislations were passed that set standard rules for hiring and remunerating labors. The first key event in the US labor history was establishment of the American Federation of Labor (AFL) in 1886. AFL ran on the form of ‘craft unions’ and was conservative in the sense that it did not challenge capitalism per se. Instead, it was

Starbucks - Case Study Example | Topics and Well Written Essays - 500 words

Starbucks - - Case Study Example Additionally, the paper will describe the role of sustainable development in Starbuck’s approach to social responsibility. The Starbuck 2003 Corporate Social Responsibility Report, Titled â€Å"Living Our Values,† defines the coffee retailer’s approach to social responsibility. The approach focuses on partners, diversity, coffee product, customers, community and environment, and profitability. The three concepts of social responsibility are profit responsibility, stakeholder responsibility, and societal responsibility (Kerin et al, 2010). In relation to profit responsibility, a company should maximize profits for the stakeholders without taking advantage of supply shortages to charge very high prices on products. Starbuck’s observes profit responsibility by selling its product via supermarkets, the company’s retail shops, and by extension taking the Starbuck’s coffee experience to the employer’s offices. It uses low profit grocery market segments, retail business cafes, coffee kiosks, high profit margin kiosks, and corporate cafeterias to reinforce and serve its products using high-class experience. It embraces supplier diversity, pays its coffee suppliers well, and conserves their environment. These measures guarantees high and well deserved profits. Where, profits are significant for the growth of Starbuck’s, profitability is placed last as it depends on adherence to partners, diversity, coffee/product, customers, community and environment principles. In relation to stakeholder’s responsibility, a company focuses on stakeholders that can contribute to the achievement of its objectives. Indeed, the coffee retail shop encourages its partners, to stick to the mission statement, comment on deviations from Starbuck 2003 Corporate Social Responsibility Report, participate, and analyze management decisions. In addition, Starbuck’s accords

Target Corporation Essay Example for Free

Target Corporation Essay Target Corporation is one of America’s biggest corporations according to Fortune 500. Target is a retailer that operates general merchandise and food discount stores. Being one of the biggest and one of the leading retailers in the America, Target enjoys a strong market position to promote market opportunities and adds to their bargaining power. Here are the Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis of Target Corporation. Strengths 1. Advance technology increased customer preference for Internet shopping. 2. Target Corporation continues to expand by announcing their plan to open more stores in Chicago, Seattle, and Los Angeles. 3. Target Corporation is the second biggest concession retailer in United States. 4. Target Bulls eye logo is recognize by Ninety-seven percent of American consumers. 5. Target is the leading gift card seller than any other retailer in the United States. 6. Target is opening 220 stores in Canada, which is the first international expansion. Weakness 1. Target stores do not sell firearms and tobacco products. 2. Target settled to decrease their transactions on all supplies having polyvinyl chloride. 3. Target Corporation received criticism and controversy from members of the gay and lesbian community for their donations to anti-gay groups. 4. Negative publicity in 2004, when Target decided to block Salvation Army from seeking donations at its stores. 5. Target Corporation does not have the advantage competitively due to higher prices than other retailers do. Opportunities 1. Corporation ranked at number 38 in Fortune 500 as of 2012 (Fortune, 2012). 2. Target ranked number 64 on Corporate Responsibility Magazine list of 100 Best Corporate Citizens (CRM, 2012). 3. Target ranked number 25 on Fortune magazine list of World’s Most Admired Companies (Fortune, 2012). 4. Target received a score of 100 from The Human Rights Campaign on its 2013 Corporate Equality Index (Human, 2012). 5. Target ranked number 30 on DiversityInc magazine list of Top 50 Companies for Diversity (DiversityInc, 2012). 6. Target ranked 28 in America’s Top 50 Organizations for Multicultural Business Opportunities by DiversityBusiness.com (DiversityBusiness, 2012). 7. Target ranked number 22 on Forbes magazine and the Reputation Institute list of America’s Most Reputable Companies (Smith, 2012). 8. Universum ranked Target number 38 on its Ideal Employer List as surveyed by American MBAs, and number 28 as surveyed by American undergraduates (Light, 2012). 9. Target r anked among the 2012 Best Companies for Hourly Workers by Working Mother Media (Working, 2012). 10. The National Conference on Citizenship and Points of Light, in partnership with Bloomberg LP, ranked Target number 16 on the first comprehensive ranking of the Civic 50 (Bloomberg, 2012). 11. Newsweek magazine ranked Target number 85 out of 500 on its U.S. Green Rankings 2012 (Newsweek, 2012). 12. Target scored an 87 B on the 2012 Carbon Disclosure Project SP 500 Report, an increase over 2011 ranking score of 77 C (Carbon, 2012). 13. Target named to the 2012 Dow Jones Sustainability Index (DJSI) World Index (Dow, 2012). 14. Target named a member of the United States Hispanic Chamber of Commerce 2012 Million Dollar Club for its commitment to supplier diversity and Hispanic Business Enterprises (USHCC, 2012). 15. Target named as one of the World’s Most Ethical Companies by Ethisphere Institute (Ethisphere, 2012). 16. Target named as one of the Top Corporation for Women’s Business Enterprises by The Women’s Business Enterprise National Council (WBENC, 2012). 17. Regaining of overall economy is worthy opportunity for Target Corporation because it will surge requirement for the products. Threats 1. Target Corporation competing with Wal-Mart, Kmart, and other retailers. 2. The Attorney General and 20 California District Attorneys filed a claim in Alameda County claiming that Target has been unlawfully dumping hazardous wastes in landfill on June 2009. 3. Customer perception that Target Corporation products are more costly than other retailers. The strengths and opportunities are the most relevant parts of SWOT analysis that make investors invest in Target Corporation. On January 13, 2011, Target declared its first international expansion into Canada and it makes the investors to be excited for the opportunities for this corporation to do well internationally. Additionally, Target Corporations continue to be recognized, rank, and awarded by different magazines and association for being one of the best companies in the United States. Those recognitions and awards make the corporation more valuable and that value of the company and their name has marketing importance that give them staying power for years to come (Target, 2012). Stakeholders are groups of people who have an interest in a company or business organization. Internal stakeholders are those members of the business organization such as owners, managers, staffs, and employees. However, external stakeholders are not part of the company such as customers, suppliers, community, and government. Every internal stakeholder has their own needs and hoping that the company can provide or fulfill their need. For many owners, their business in their biggest asset and owner will protect it to secure his/her financial future. For bigger corporation like Target, they make sure they follow the national and local law to avoid lawsuit and bad publicity. Shareholder is an individual that own shares of stock in the company therefore they have right to vote on decision about the organization. Shareholder primary need is to increase the value of their stocks and improve their value in the company by buying more stocks to have bigger influence on the decision within the company. Managers and employees needs are almost the same. They need job security with benefits, good pay, health insurance, and flexibility. In addition, the most important needs for all internal stakeholders is profit because this is the driving force that control the future of the company and can provide all of the them their personal needs. External stakeholder needs are different from the internal stakeholder since internal stakeholder is the one providing and fulfilling to satisfy external stakeholder needs. Customers are the most important stakeholders because they are the only reason that we have business like Target Corporation. Customers have so many needs that managers and employees trying to provide to them as much as they can. Customer needs are friendly representative, discount prices, quality of products, professionalism, and outstanding customer services. Supplier most important needs are to have a good business relationship with the corporations because it gives them stability on their own organization. Community needs is to improve their own community for creating job, charity organization and by increasing the value of their community. Target Corporation can provide it to them since they can create thousands of jobs in the community and donating funds to different organizations within local communities. Government needs from Target Corporation is for them to support the community by providing jobs, donations to charities and most of all is for the company to follow the government policies and regulations. Target Corporation in the most parts fulfilled most if not all of the stakeholder needs. Target Corporation is one of the biggest and successful companies in United States so the owners and shareholders needs of profits, stability, and financial security are easily meets. For managers and employees, the company provided them flexibility, health benefits, retirement plan, life insurance, vacation, discount such as 10% for member and childcare, disability coverage, training and development resources, career planning and option for group legal plan. For community stakeholder, Target Corporation provided 5% of Target’s profit to local communities. They have partnership with community organization such as Diversity Best Practices, The Executive Leadership Council, Hispanic Association on Corporate Responsibility and NAACP. In addition, they encouraged their team member to volunteer their time, expertise, and talents to support the community projects. For government stakeholder, Target Corporation has a strong partnership with Federal Emergency Management Agency (FEMA) to support disaster efforts. They also have safety and preparedness partnership to other government service such as Department of Justice, Department of Homeland Security, and American Red Cross. For supplier stakeholder, they actively engage with diverse supplier to support all section of the company. In addition, they develop diverse supplier relationships with Women’s Business Enterprise National Council, United States Hispanic Chamber of Commerce, N ational Minority Supplier Development Council, National Gay and Lesbian Chamber of Commerce, and National Veteran Owned Business Association. For customer who is the most important stakeholder, Target Corporation provides them quality products, outstanding service, competitive price, number of selection, best values, and convenience shopping. For the most part, Target Corporation meets stakeholder needs. I am sure they are few people think that their needs are not met or satisfied the way they want it but you cannot satisfy everybody. The important thing is Target Corporation continues to look on how they can improve to support their stakeholder. They continue to launch customer satisfaction survey, ask their employees, and work with the government and communities to improve their company relationship with stakeholders and this is how Target Corporation can fulfill the need of stakeholder. Target Corporation continues to make improvements to remain the number two retailer stores in the country. Target financial performances are doing great and continue to progress every year. Reports show Target Corporation’s revenue stay in an upward trend regardless of the world’s economy. Additionally, reports also show sales increasing in an upward trend year to year (Target, 2012). By reviewing Target Corporation financial report, I learned that this company should continue to improve for the next five year. Target Corporation bought the leaseholds for up to 220 stores in Canada for their first international expansion. This expansion will improve their sales, revenue and can help them compete with their main competitors: Walmart and Costco. The only concern for Target Corporation is their competition with Walmart and Costco since both company make bigger net sales the last four years. Target Corporation management can use their financial report to compare them with Walmart and Costco to analyze the best way to compete with them. On comparing Target, Walmart, and Costco, Walmart is the largest retailer in the country and it generated more than three time s the combined revenue of both Target and Costco. See figure 1 for Target Corporation, figure 2 for Walmart Corporation, and figure 3 for Costco Corporation’s historical financial reports. Target Corporation technologies compare to Walmart and Costco is about the same. I do not see any advantages between these three retailers concerning technologies. This globalization influenced the company business strategies since Costco and Walmart are having success outside the country. Target Corporation finally expanded internationally due to their main competitor, and to compete with them, they have to expand outside the country. Benchmarking is a process of comparing an organization performance to other organization using objective and subjective criteria. The process compares organizations to those in the industry reviewing its status to use as standard in their own company. Target, Walmart and Costco are three of the top retailers in industries in best practices, operational processes and procedures, and products ranked by reputable magazine and community organization every year. Being ranked in world’s most admired companies, top 50 companies for diversity, America’s most reputable companies, and many more recognition demonstrated that thi s three companies are the benchmark for their industry. The recent economic trends are influencing the business from traversing from enormous changes in global politics to the blasting existence of social media and online technology into our everyday lives. Through all of this, nevertheless, business must go on, but it is not business as usual. The importance of customer has never more important than it is today. With the influx of computer technology, customer worldwide knows what is accessible in the market to buy and how to locate it online at the lowest cost. Through this power has come the capability to form markets, and express the products they want. Advertisements, information sharing, and recognizing the importance of personalized search were some of the strategies the company has used for adapting to changing markets. With the rise of Internet and a population that gradually analyses world travel as just another part of life, online search become the most powerful tool (McClimans, 2011). Target Corporation has implemented tactics to achieve their strategic goals by going international and opening new stores (CityTarget) aimed at the urban market. Target Corporations procured the leaseholds for up to 220 stores in Canada and CityTarget are established to open in Chicago, Seattle, New York, Los Angeles, San Francisco, Portland, Oregon, Puerto Rico, and Charlotte (Target, 2012). The tactics Target used by expanding their corporation will help them compete with their competitors to meet the consumers demand. Target Corporation can also implement pricing and marketing strategy to achieve their strategic goals. Pricing strategy does not always means lowering price to gain industry dominance, but that is the obvious choice. Using low price tactics presenting rebates, special sales and discount with inexpensive financing and delayed payment. Marketing strategy seeks to target specific consumers with messages that are most likely to draw their attention. It involves seasonal advertising and special promotions as tactics to achieve their goals (Duff, 2012). The role of human resource management plays in helping the company achieve its business goals has change from the conventional hire and fire to a planned manager at the table with operations, finance, and other business focuses that are not centers of profits for the company. Human resource must ensure that its practice, processes, and policies supplement the organizational strategies. Human resource management should understand the business strategy by developing mission statement that relate to the employees, conduct a SWOT analysis, develop consequences and solutions, and evaluation of action plans. Some of the human resource management functions are to handle rewards and compensation certain roles and positions in order to boost performance echelons. Recruitment is another important mission including the selection and retention of employees. Additionally, human resource management balancing the employees and organizations expectations to associated business success and to satisfied employees needs (King, 2012). Target Corporations is one of the biggest, reputable and profitable company in United States so if I have the opportunity to invest with them, I will without hesitation. Target Corporation continues to rise and make significant profits year after year. Figure 1 shows Target’s financial history for the last five years and by looking at it, the trends will likely continue to do well in the future. In conclusion, Target is the second largest discount retailer in the country, second only to Walmart. It has proven its successfulness through the number of stores domestic and internationally, and through the figures of net sales, net income, and free cash flow. Target Corporation logo is recognize by over ninety-seven percent of consumers in United States. In addition, Target Corporation is devoted to promoting diversity and committed to community by donating five percent of profits to charities while encouraging their employees to volunteer in the community projects. Target Corporation continues to expand by going internationally and opening new stores CityTarget in urban areas. Target is growing and bringing new customers as it expands. Target Corporation understands their markets, and this giving them the edge to grow and compete with Walmart in the future. References Bloomberg BusinessWeek. (2012). Civics lesson. Retrieved from http://images.businessweek.com/slideshows/2012-11-08/civics-lessons CR’s Magazine. (2012). 100 Best Corporate Citizens. Retrieved from http://www.thecro.com/files/100Best2012_List_3.8.pdf Carbon Disclosure Project. (2012). Carbon reductions generate positive ROI. Retrieved from https://www.cdproject.net/en-US/Pages/HomePage.aspx Costco Wholesale. (2012). Home. Retrieved from http://www.costco.com DiversityBusiness.com. (2012). Top 50 organizations for multicultural business opportunities. Retrieved from http://www.diversitybusiness.com/news/supplierdiversity/45201282.asp DiversityInc. (2012). Top 50 companies for Diversity. Retrieved from http://www.diversityinc.com/target/ Dow Jones Sustainability Indexes. (2012). Annual review 2012. Retrieved from http://www.sustainability-indexes.com/review/annual-review-2012.jsp Duff, V. (2012). What are business tactics and strategies? Chron. Retrieved from http://smallbusiness .chron.com/business-tactics-strategies-5148.html Ethisphere. (2012). 2012 world’s most ethical companies. Retrieved from http://www.ethisphere.com/wme/ Fortune Magazine. (2012). World’s most admired companies. Retrieved from http://money.cnn.com/magazines/fortune/most-admired/ Human Rights Campaign. (2012). Corporate equality index. Retrieved from http://www.hrc.org/corporate-equality-index/#.ULdSJKUWFFI King, W. (2012). What role does human resource management play in a business? Ezine Articles. Retrieved from http://ezinearticles.com/?What-Role-Does-Human-Resource-Management-Play-In-A-Business?id=563848 Light, J. (2012). Ideal employer list. Retrieved from http://online.wsj.com/article/SB10001424052748703512404576208702115862760.html?mod=WSJ_Careers_CareerJournal_4 McClimans, F. (2011). 5 trends influencing

Case Study: Urbanisation In Nairobi

Case Study: Urbanisation In Nairobi With an ever-growing global population have come changes in the way that cities emerge and develop, with urbanization being one of the most prominent. While only 10% of the worlds population lived in cities in 1900, this percentage has now ballooned to over 50% (Benton-Short Short, 2008, p. 66). During this period of urbanization, trends characterizing urbanizing cities have developed, each posing their own unique challenges for urban planners. These trends include: the emergence of predominant age groups, variations in the size and distribution of cities, environmental degradation, the introduction of institutional changes and participatory planning, and changes due to poor economic conditions. A city is largely defined by its residents. While developed and transitional countries are characterized by aging populations, it is estimated that 60% of residents in urban areas of developing countries will be under the age of 18 by the year 2030 (United Nations Human Settlements Programme [UN-Habitat], 2009, p. 10). These countries will also see their young urban populations grow by 50% within the next 40 years (ibid, p. 10). A country defined by older citizens and a declining or negative growth rate has different priorities and needs than a rapidly growing country with a young populace. These distinctions create different challenges for urban planners. Urban planners of developed and transitional countries are faced with the problem of renewing cities now in their deindustrialization phase. They have to transform areas and structures that have been abandoned by redeveloping waterfronts and brownfields, supported by programs such as the Brownfields Initiative in the United States, so that these areas can contribute to the future growth of the city (Benton-Short Short, 2008, p. 83). They also need to consider how current health systems and facilities for the elderly population can be updated and expanded to accommodate the aging baby boom population. Urban planners in the global south, however, are tasked with developing infrastructures to supply rapidly growing populations with housing, water, and sanitation. Systems need to be developed that will support the surge in young residents, providing facilities and programs that will serve this age group as they begin to shape the future of the city. The emergence of predominant age groups challenges planners to consider the specific needs of that age group. As cities grow in population, they also tend to grow in physical size and expand outwards. This expansion is apparent as the majority of the worlds urban population lives in cities and towns of less than 500,000 people rather than in megacities, which are home to populations of at least 10 million (Benton-Short Short, 2008, p. 73; UN-Habitat, 2009, p. 11). In developed countries like Canada and the United States, this growth has manifested itself in the form of sprawl, creating suburbs that are made up of homogeneous segregated uses: housing subdivisions, shopping centers, office/business parks, large civic institutions, and roadways heavily dependant on collector roads (Randolph, 2004, p. 37). These suburbs are auto-centric, characterized by their residents tendency to travel by personal vehicle. Planners must consider how to guide a citys growth and maintain its sustainability in the midst of the air pollution and high energy consumption associated with automobiles. Unlike these d eveloped countries, Hostovsky (2010b) notes that growth in the developing world has manifested itself as over-urbanization rather than sprawl (p. 19). Huge populations form cities in these countries, which are then surrounded by informal housing areas known as shantytowns or slums. Since shantytowns are considered illegal, there is often no government support to provide the infrastructure necessary for adequate water supply, sanitation, electricity, trash collection, etc. (Benton-Short Short, 2008, p. 90). Planners are challenged to consider how to approach these underserved communities as previous attempts to formalize these areas have resulted in further deterioration in quality of life (UN-Habitat, 2009, p. 12). Urban planners must consider how sprawl and over-urbanization affect the countries in which they occur, and ensure that infrastructures reach the necessary distances and serve the huge numbers of underprivileged citizens that they need to. There is also an alarming trend of environmental degradation and an increasing frequency of natural disasters. Climate change is soon expected to affect the worlds ability to access water, produce food, and maintain healthy populations (ibid, p. 2). Exacerbating this issue of climate change is the proliferation of suburbs and industries that rely on oil as an energy source, leading to significant increases in greenhouse gas emissions (ibid, p. 3). The climate change issue is one that all countries must consider, be they developed, transitional, or developing. Countries are faced with the challenge of supplying their populations with access to food and water in an environment that will no longer be able to sustain such large populations and rapid growth. If the entire globe were to live at the same standards as North Americans, two additional planets would be required to accommodate the increase in ecological load (Hostovsky, 2010a, p. 35). In addition to the degradation of the natura l environment, has come an increase in the frequency of natural disasters. The global rate of occurrence has increased fourfold since 1975, with a threefold increase in Africa in the past 10 years (UN-Habitat, 2009, p. 14). Of particular concern is the fact that disasters have the greatest impact on the poorest of the poor. Of the 270 million people affected by disasters in 2002, 98% of those people were residents of low-income countries (Benton-Short Short, 2008, p. 125). This can be charged to the fact that these low-income countries simply do not have the financial capability to implement disaster preparedness programs like developed countries. Planners will need to use innovative ways to build infrastructures that will be able to withstand these natural disasters and mitigate the economic and human life losses that ensue. By mitigating climate change and planning for natural disasters, urban planners have a significant role in ensuring that the expected population growth is sus tainable with one planet. The trends of urbanizing cities are occurring not only amidst changes in the natural environment, but also changes in the political environment. Governments are no longer in the same form as when these cities were first founded. Citizens are demanding participatory approach to planning, no longer willing to merely accept the planning decisions of their leaders (UN-Habitat, 2009, p. 3). Planners will need to recognize that public consultations will partially guide their work and that their work will only be effective in a political environment that is stable (ibid, p. 3). All of the trends discussed above exist in an economic context, one that has changed significantly over the past century. Economies of the world have become integrated through the process of economic globalization. As a result of this globalization, all countries are feeling the effects of the current recession. This recession is expected to decrease the amount of funding available for urban development projects, increase unemployment rates, and exacerbate current poverty levels (ibid, p. 12). All countries, regardless of whether they are developed, transitional, or developing, will have to face these financial issues. Planners will be faced with the challenge of developing sustainable urban centres with limited budgets. With the trends associated with urbanizing cities (the emergence of predominant age groups, variations in the size and distribution of cities, environmental degradation, the introduction of institutional changes and participatory planning, and changes due to poor economic conditions) come unique challenges for urban planners to ensure that this rapid urbanization is successful and sustainable. Part 2 A Global City: Nairobi, Kenya Overview Located in eastern Africa, Nairobi is the capital city of Kenya (see Figure 1). With 3 million residents, the citys population is growing at a rate of 3.8% per year (Department of Economic and Social Affairs, 2007). The majority of the residents are between 15-64 years of age, with a median age of 18.7 (Central Intelligence Agency [CIA], 2010). Nairobi was founded in 1902 by the British colonial government and informal housing has been developing there ever since (Warah, 2001, p. 1). The colonial government believed that Africans did not need, nor deserve, accommodation as they were the source of disease (Republic of Kenya, 2005, p. 4). Strict regulations and planning laws restricted the Africans access to urban land in order to isolate them from the Europeans and as a result, informal housing began being built on the perimeter of the cities (ibid, p. 4). These areas were soon destroyed and the residents were forced to return to rural areas. When Kenya achieved independence in 1963, new legislation was introduced that provided subsidized housing, but these subsidies favoured middle and upper income groups even though 70% of the demand for this housing came from the poor (ibid, p. 4). In the 1970s to early 1980s, the government provided minimal services to the slum communities, but when Structural Adjustment Programmes were introduced in 1986, the government no longer provided subsidies, causing life in the shantytowns to further deteriorate (Warah, 2001, p. 2). In the past, there have been attempts to upgrade these shantytowns but lack of affordability, high standards for infrastructure, land tenure complication, misallocation and administrative inefficiency have caused mixed results (Republic of Kenya, 2005, p. 5). The Republic of Kenya and United Nations came together in 2000 to develop the Kenya Slum Upgrading Programme (KENSUP) which is in the process of implemented (ibid, p. 5). Sixty-percent of Nairobis population lives in slums that cover 5% of the citys land (UN-Habitat, 2010). In these slums, only 20% of residents are connected to electricity and 4% have water connections, while solid waste disposal services are nearly nonexistent (ibid). Economy Nairobi began as a stop on the Kenya Uganda Railway (Mitullah, 2003, p. 1). Although it used to be a mere stop on the route, the city became a centre for commercial trade and business when the railways headquarters were moved from Mombasa to Nairobi in 1899 (ibid, p. 1). Today, over 86% of Nairobis residents participate in the citys economy (ibid, p. 4). The citys labour force is comprised of 67,900 individuals in[the] manufacturing industry, 39,700 in building and construction; 57,300 in trade, restaurants, and hotels, 42,200 in finance, insurance, real estate and business services; while community, social, and personal services [employ] 155,900 people (ibid, p. 4). Although so many residents are employed in these formal industries, the majority of people still engage in informal economic activities such as small trade because employment in the informal sector has grown by 176% while formal sector employment has contracted by 0.43% (ibid, p. 4, see Figure 3). As Kenyas capital city, Nairobi also plays a large role in the countrys economy, serving as the regional core for trade and finance (CIA, 2010). It is through this trading capability that Kenya can export almost $4.5 billion worth of tea, coffee, petroleum products, fish and cement to the United Kingdom, Netherlands, Uganda, Tanzania, the United States and Uganda (ibid) per year. Social Issues Nairobi is home to one of the largest slums in the world, Kibera (see Figure 2), which has a population of over 1 million residents (Amnesty International, 2009). Kibera is plagued by social inequities and issues, some of the most prominent being the high rate of HIV/AIDS, the high levels of youth crime, and inequality for women. Youth in Kenya usually only receive ten years of schooling (CIA, 2010). With the lowest literacy rate in the country, Nairobi youth are not empowered to solve their own problems and problems of the community (City Council of Nairobi, 2009, p. 7). This lack of education continues with them and affects the quality of decisions that they make in the future. For example, leaders failed to recognize the effectiveness of antiretroviral treatment programs in the prevention and treatment of HIV/AIDS and it is estimated that their delay in making these programs available led to 3.8 million person-years lost in South Africa from 2000-2005 (Harvard School of Public Health, 2008). Over 1.2 million of the countrys population is estimated to be living with this disease with 150,000 dying each year, making Kenya 4th in the world in terms of the number of deaths attributed to this disease (CIA, 2010). There is a lack of education and social stigma surrounding this disease that prevents the country f rom mitigating its horrible effects. Crime is another issue that proliferates throughout Kenya and Nairobi. The frequency of crimes such as armed robbery, murder, mugging, car-jacking, housebreaking, physical and sexual assault have all been increasing (UN-Habitat, 2007, p. 1). A trend is also occurring where the majority of crimes are committed by youth. In fact, over 50% of convicted prisoners are between the ages of 16 to 25 (ibid, p. 1). The Mungiki movement is a key case of this. The movement is considered the most organized criminal group in the country. They are responsible for the death of 23 residents in 2002, imposing illegal taxes, and controlling the security, water and electricity in slums (ibid, p. 1). Although the residents of Kibera are all exposed to the issues that face the shantytown, women are particularly affected by this negative environment. They are not given the same access to education, they are expected to care for their families, and they are not protected by the police force. Although women are given access to an education, they are often so burdened with home responsibilities that they drop out of school. They feel this burden because they not only take care of their own siblings and children, but they often end up caring for orphans whose parents passed away from HIV. As a teacher in the area notes, [Girls] are not given time to learn and study at home. So that means they will eventually fail (Amnesty International, 2009). These women are not only underprivileged but they are also invisible to the systems that should be meant to protect them. The corridors of these slums are unsafe, especially at night. Should a woman be raped, her report to the police would be use less unless she herself can find the perpetrator herself (ibid). As a result, fewer reports are filed and the vicious cycle that allows these acts to occur continues on. Nairobi residents, especially those of slums like Kibera, are often uneducated, without the knowledge to protect themselves from HIV/AIDS and the growing rates of youth crime. Women and girls are often the greatest impacted due to the social inequality towards women, without the opportunity to receive a proper education and subject to the apathy of the police force. Environmental Issues and Infrastructure As mentioned previously, Nairobi is home to Kibera, one of the largest shantytowns in the world (Amnesty International, 2009). These areas of informal housing are exposed to the environmental issues. Residents are plagued by issues in air pollution, solid waste management, and potable water supply and sanitation. Like many cities in North America, increased use of personal vehicles has caused an increase in air pollution in Nairobi. The pollution is also created from industries, charcoal fire, and the incineration of waste in open pits (City of Nairobi, 2007, p. 8). This air pollution has already led to a loss of biodiversity, an increase in acid rain and climate change (ibid, p. 8). Nairobi only has one solid waste disposal dump at Dandora, which is believed to have already reached full capacity (City of Nairobi, 2007, p. 9). With nowhere to dispose of their waste, residents of Nairobi slums have resorted to illegal dump yards, residential backyards and commercial property (ibid, p. 9). Over 50% of the wastes are organic (ibid, p. 9), and when these materials decompose, residents are exposed to high levels of bacteria and vector borne diseases such as malaria and Rift Valley fever (CIA, 2010). The most evident environmental issue in Nairobi is related to its water supply and sanitation. Water is crucial to the survival of all living things, and yet, only 42% of Nairobi households have access to clean water (City Council of Nairobi, 2007, p. 11). Further exacerbating this issue of lack of clean water is the fact that contaminated water is not always treated. In fact, only two-thirds of Nairobi residents have access to sanitation, with many slum residents using a pit latrine that is shared by many people (ibid, p. 12). Forced to fetch potentially unclean water from other sources, residents are exposed to dangerous water-borne diseases which are responsible for 30% of deaths in the global south (Benton-Short Short, 2008, p. 163). Residents are at a high degree of risk for waterborne diseases such as bacterial and protozoal diarrhea, hepatitis A, typhoid fever, and schistosomiasis (CIA, 2010). Part 3 Conclusions Africa is one of the regions experiencing the greatest rate of urbanization in the world (UN-Habitat, 2009, p. 10). Although this urbanization provides new opportunities for economic and social growth, it also poses unique challenges and issues for the development of cities such as Nairobi. Planners need to consider trends that are true of most urbanizing cities (the emergence of predominant age groups, variations in the size and distribution of cities, changes due to poor economic conditions, and an increasing susceptibility to disasters), but also focus on the issues that are specific to Nairobi. Nairobi has a growing population of young people. With the lowest literacy rate in the country, Nairobi youth are not empowered to solve their own problems and problems of the community (City Council of Nairobi, 2009, p. 7). These youth are also at a high risk for HIV/AIDS and are susceptible to being influenced by organized crime groups. If planners manage to develop systems that will educate and protect these young residents, they may reduce the risk of contracting such a deadly disease and the crime rate. Like other urbanizing cities, Nairobi is growing in size as its population increases. However, unlike North America where this growth has been characterized by the emergence of suburbs, Nairobi has been over-urbanized. Since Africa is dominated by a few key cities, planners must be prepared to deal with the sprawl, congestion and environmental effects that are often associated with urban primacy (UN-Habitat, 2009, p. 12). While the entire world is experiencing more natural disasters, Africa is at the peak of this, experiencing a three-fold increase in the past 10 years alone (UN-Habitat, 2009, p. 14). Since lower-income countries are more susceptible to both capital and human loss due to the lack of disaster recovery programs, Nairobi will be faced with the challenge of building infrastructures and implementing programs that will help in the mitigation of loss during these disasters. Finally, these trends and issues faced by Nairobi are occurring in the worst economic recession since 1945 (UN-Habitat, 2009, p. 12). Planners will be faced with the task of building new infrastructures and implementing new programs with less financial support, and in an environment where unemployment and poverty levels are rising. Nairobi will encounter a long journey before it can become an ideal model of a global urbanizing city. Its greatest weakness is its lack of an official plan. The latest approved city plan was developed in 1948, with a revised version submitted in 1973 that was never approved (City of Nairobi, 2007, p. 3). Without a plan, leaders and citizens can never expect to develop a city that is successful and sustainable. Figure 1 Map of Kenya (CIA, 2010) Figure 2 Kibera, a slum in Nairobi (Amnesty International, 2010) Figure 3 Comparison of formal and informal sectors (Mitullah, 2003, p. 4)

A Working Party :: essays research papers

This poem is about a 'normal', 'average' man who came to the trenches only 3 hours before, and then is killed as he is doing his job of piling sandbags along the parapet.Throughout this poem, Sassoon appeals to the emotions of the reader by trying to create an emotional attachment between the reader and the young man. He explains that "He was a young man, with a meagre wifeAnd two small children in a Midland town;He showed their photographs to all his mates,And they considered him a decent chapWho did his work and hadn't much to say,And always laughed at other people's jokesBecause he hadn't any of his own."Sassoon deliberately describes the man clearly and significant detail, which makes the reader realise that this man was just a normal man, probably not unlike the reader, and makes the reader see the pure tragedy when the man dies. "He was just a simple man, who never did anything to hurt anyone" is the response Sassoon wants the reader to have, and feel the i njustice of the man's death.Sassoon specifically starts the poem off slowly, describing the men slowly making their way down the trenches, slipping into the mud and squeezing past other soldiers returning from the front line. Then, he ironically rushes the man's death in the last two lines, after the man is thinking how slow time passes. The man's sudden death shocks the reader and shows them how suddenly life can be taken away."And as he dropped his head the instant splitHis startled life with lead, and all went out."Throughout the poem, Sassoon uses excellent descriptions to involve the reader in the 'action' of the poem, and with the man. He clearly describes the men making their way down the trench towards the front line - "Sliding and poising, groping with his boots", "...splashing wretchedly where the sludge was ankle deep". Language like this almost takes the reader there, and again makes the reader identify with the character. Sassoon also uses the same strong descriptions of the area to make the reader feel like they are in the trenches along with the man - "Sandbags bleached with rain", "... pawed sodden sandbags of chalk", "White faces peered, puffing a point of red", "... the gloom swallowed...". He uses references to colour, texture and sound to give the reader an understanding of what it felt like to be there.

Language Arts Lesson Plan Essay

Produce clear and coherent writing in which the development, organization, and SST Wyle are appropriate to task, purpose, and audience. Objective (Explicit): Students will demonstrate writing clearly and coherently by developing a friendly or formal letter. Sub-objectives, SWABS (Sequenced from basic to complex): Students will learn parts of a friendly/formal letter and what the difference Is Students will learn the definitions of parts of a friendly/formal letter. Students will learn how to format a friendly/format letter. Students will be able to establish and maintain a letter style. Students will be expected to write a friendly letter to someone to tell of their explorer experience. Students will be expected to write a formal letter to the monarchs to tell them about their explorer experience. Evidence of Mastery (Measurable): Assess Students while they are writing their letters. A completed letter writing checklist. A completed friendly letter† or â€Å"formal letter† on a grocery bag. Key vocabulary: Explorer, Christopher Columbus, expedition, heading (if required, date, salutation or retreating, body of letter, closing, postscript (P. S. ), signature Materials: Sample friendly letter, sample formal letter, letter template, pencils, paper bags, Christopher Columbus Brainpower, Dear Teen Me book By E. Kristin Anderson. Opening (state objectives, connect to previous learning, and make relevant to real life) Ask Students if they have ever written a letter? Who they wrote to? Did they look different? Explain to Students that letters take many forms and serve a variety of purpose. Do you think a letter to your parent’s would look the same as if you were to write a letter o the President? Explain how letters can tell others about us (how we are doing, what we are doing), request things from others (asking the President to think about passing a bill), and why? Depending on the letters purpose you will decide the format. Today we are going to focus on friendly and formal letters. Instructional Input Teacher Will: Ask Students if they have ever written a letter? If so what kind? Did they look different? Explain to Students that letters take many forms and serve a variety of purpose. Do you think a letter to your parent’s would look the same as If you were to write a letter to the President? Explain how letters can tell others about us (how we are doing, what we are doing), request things from others (asking the President to format. Today we are going Just focus on friendly and formal. Preview and read a letter from â€Å"Dear Teen Me† book. (Friendly letter example), as well as preview and read formal letter examples. Student Will: Engage in introduction and questions. Preview and listen to the letter from â€Å"Dear Teen Me† book as well as preview and read formal letter examples. Co-Teaching Strategy/Differentiation Have sample letter handouts from the book. Guided Practice Show Brainpower video on Christopher Columbus, after video create a T-Chart on one side label it â€Å"To Mom† and on the other side â€Å"To Queen and King†, call on volunteers to create a greeting appropriate for â€Å"mom† and ask for another volunteer to create a greeting appropriate for â€Å"Queen and King†, continue until the signature part of the letter. While completing the T-Chart ask student if they notice the differences? Explain to Students that they are going to write a letter as if they are in Columbus’ time; show Students grocery paper bags (pre-cut to standard letter size). Explain that completed letters will be done on the grocery bags. Student Will: Watch video on Christopher Columbus, take Brainpower Quiz about Columbus, Think- Pair-Share about letter ideas and choice, engage and comment on letter T-Chart. Students have letter templates. Students can have handouts of written sample letters. Give Students letter writing checklist. Parts of a letter definition sheet. Independent Practice Direct Students to the T-Chart labels created prior to the video. Explain that they can either write a letter home â€Å"To mom† about their expedition experience or a letter â€Å"To Queen and King† telling them about their expedition. Assess Students as they are developing their letters. Make any suggestions and answer questions about letters. Student Will: Choose a letter based off of T-Chart, develop a letter that once complete will be put Students use letter templates to form their letters. Give Students letter writing checklist and parts of a letter definition sheet. He date. Greeting/Salutation the word â€Å"Dear† and using the person’s given name or relationship, or it may be informal if appropriate. Body This is the main text, which includes the message written. The tone is friendly and often includes news and invitations. This short expression is always a few words on a single line. It ends in a comma. Signature Line There is a typed or printed name added here. Postscript If your letter contains a postscript, begin it with â€Å"P. S. † and end it with your initials.

Case Study of Jetblue Ipo

Initial Public Offering is the first sale of stock by a private company to the public. The private company as an issuer entrusts an underwriter firm or a group of firms who help the issuer going public. IPOs are such a big deal because any investors who hold stock at initial offering price would make a significant capital gain when the company goes public. Numerous cases of new issues have proved that investors rise in value. Mr. Schwartz (1999) listed some advantages of going public in his article.For instance, going public could be easy for the company to access to capital market to raise capital via equity, debt or convertible securities. This also increases the liquidity of the company. Moreover, employees could be more motivated if company made some employee benefit policy based on stocks. At last, going public could increase company’s goodwill. Thus it would bring more business. In the case of â€Å"Jetblue airways IPO valuation†, the motivations of JetBlueâ€℠¢s management board also prove the advantages listed.Based on some analysis of the case, three clear disadvantages reflect going public does not seem such fine. Firstly, the initial and ongoing expenses of going public are costly and multifarious. For example, before going public, some prerequisites should be fulfilled, and those prerequisites are complicated and costly. After going public, the company is not a private company and has obligations to disclosure annually or seasonally audited reports to public. Secondly, the management would over focus on their share price, not operations.To avoid declining share price is their primary objective, so they may forgo some business plan that can bring long term benefits but cause share price decreasing in a short time. Thirdly, going public via IPO is unreasonably difficult, so it may experience a long time. During this period, the company may lose some other opportunities. To conclude, going public is a crucial decision for a company. So Jetblue also is concerned with it because there are some negative influences on its industry.Jetblue faced challenges after the terrorist attacks of September 2011. So it was not a good time to go public, but Jetblue still could make profits and grow aggressively. Going public could be considered. Meanwhile, there were fewer competitors in the IPO market. This factor could contribute to success of JetBlue’s issues. The valuation is very important for issuing securities. Too much overpricing may reduce investors’ enthusiasm. Too much underpricing may leave more ‘free money’ and damage the interests of the company. There are three main methods o price the stock price—free cash flow to equity method, free cash flow to firm method and relative valuation techniques. 1. FCFE FCFE method is not suitable for start-up companies or companies with an unstable capital structure. So in this case, FCFE method will be forgone. 2. FCFF FCFF is preferable for a com pany with a history of leverage changes, as its growth rate will be more stable than FCFE growth rate, which means FCFF is useful for startup companies without a stable capital structure. While valuating IPO, there are some key assumptions: terminal growth rate is 4. %; after 2010, the FCFF will constantly grow at a speed of 4. 5%. So the terminal value is 4,819. 24million. Here we can set the WACC (9. 21%) as the discount rate to calculate NPV. Share price is estimated around $30. To conclude, all the calculations are based on the Exhibit 13. The forecast in the exhibit 13 is reasonable because all assumptions are based on reality. The aircraft has limited seats, so the output per aircraft is unchangeable. The only way to increase revenue is to increase the ticket price. So the growth rate is the inflation rate is reasonable.Moreover, the length of forecast period is also reasonable. From 2009, the value of FCFF turns to be positive. 3. Relative valuation techniques. Relative valua tion is used to complement DCF analysis. The key steps are to identify similar or comparable investments and recent market prices for each and to estimate the initial value of asset. The method of comparable involves using a price multiple to evaluate whether an asset is relatively fairly valued, relatively undervalued, or relatively overvalued in relation to a benchmark value of the multiple.For this case of JetBlue, P/E multiple and EBIT multiple can be used as benchmarks to estimate the share price of JetBlue. P/E Multiple: In the Exhibit 3, net income in 2001 equaled to $38,537,000. So share price is $38,537,000*29. 12/40,600,000=$27. 6 EBIT Multiple: Business valuation= profits * EBIT multiple=38,537,000*20. 71=798,101,270 So share price= business valuation/ shares=$20 In summary, after those two valuations of the JetBlue’s IPO, we can recommend that the current price level ($26) is in a reasonable range.

Flexible Budgets

A flexible budget is a budget statement that shows what the expected costs should have been for any level of output, so that the actual costs can be compared to planned costs for the output that was actually generated. In a flexible budget, the costs are separated into variable and fixed costs. The more information that is provided to explain variances in budgeted and actual amounts, the easier it is for management to make successful decisions about costs and expenses.A flexible budget classifies budget requests by activity and estimates the benefits arising from each activity. It presents a statement of expectations for a period of time but does not present a firm commitment. It also presents the plan for only one level of activity and does not adjust to changes in the level of activity. However it presents the plan for a range of activity so that the plan can be adjusted for changes in activity levels.Flexible budgets are one way companies deal with different levels of activity. A flexible budget provides budgeted data for different levels of activity. Another way of thinking of a flexible budget is a number of static budgets. The information is used for planning and control purposes. The flexible budget responds to changes in activity, and performance evaluation. The flexible budget uses the same selling price and cost assumptions as the original budget.Variable and fixed costs do not change categories. The variable amounts are recalculated using the actual level of activity, which in the case of the income statement are sales units. Each flexible budget line will be discussed separately. In conclusion budgets are complicated and complex tools. Within a budget there are many specific budgets which have to be examined separately. Flexible budgets helps companies set up strategy to assist in predicting positive outcomes for the business.