Underwriting and Underpricing Essay Example

Underwriting and Underpricing Essay Underwriting spread represents the net proceeds that the underwriter will realize from the investment. It is the difference between the price per share that is paid to an issuing corporation by an underwriter or underwriting group, and the public offering price that the underwriter offers to the public. While traditionally the underwriting spread was viewed as compensation for underwriting the issue, it now has been introduced as an incentive fee where it act as bonus for investment bank when they performance better than expected.There has been evidence of clustering of spreads internationally, in the US spread is clustered at 7%( Chen+Ritter 2000), in Hong Kong 95% of fees are clustered at 2. 5%( torstia 2003) and in Europe fees range from 3-4%. In general, the more clustering presented in a country, the smaller the spread, vice versa. Furthermore, Esho et al (2004) analyzed the underwriting spread in Euro market found out that there is a positive and direct relationship between the fee charged by the investment banks and the reputation of the investment bank. (link to underpricing Underpricing refers to the first trading day closing price typically exceeds price at which the shares were offered to the public. Over 20 years, researchers investigated the underpricing puzzle associated with initial public offerings (IPOs). Ibboston1975, Ibbostson and Jaffe 1975 and Ritter 1984, among others, all document convincing evidence that initial public offerings are, on average underpriced. There are sufficient evidence of underpricing in UK (increase over time, from 3. 8% to 19%, Chambers and Dimson 2009), USA (40% between 1999-2003) and internationally(gt;15%).Visas offering in March 2008 is a good example of how IPOs are strategically underpriced. Although the IPO of Visa was an almost certain success, the price was kept at a low $44. As buyers ran in, the stock jumped to $69 and, although it fell back to $56. 40 by the close, there was a 28. 4% underpricing, thus lea ving a huge amount of the issuer’s money on the table. However, compared to the overpricing Facebook 2012 which made investors unhappy and damage the bank’s reputation, it can contribute to the reason why underwriters underprice the shares. Therefor it is clear that both underpricing and underwriting spread are costs for the issuer.Chen and Ritter (2000) explained the cost, by stating that underwriting spread was the direct compensation for IBs underwriting the issue and the level of underpricing was an indirect compensation. Smith (1986) also argued that the issuer seeks to maximize the issuer proceeds when it sells securities in an underwritten issue, and is not separately concerned about the underwriting spread or the offer price. Although underpricing and spread are both costs to issuers, issuers still consider the underwriting spread and underpricing together in an IPO based on the following reasons.The issuer’s objective is to minimize the underpricing and spread costs associated with its IPO of its common equity. More concerted effort by the underwriter or the choice of underwriters could reuce the underpricing costs associated with the offering. For instance, banks that specialize in underwriting firms from certain industries, or reputational investment banks may provide greater certification value for firm’s IPO and hence reduce its underwriting costs. In return, such banks could be expected to demand a higher spread as compensation.The spread could also be a function of the risk associated with the security and the size of the offering among other factors. If we consider the spread and underpricing from the underwriter’s view, according to the principal-agent theory, underwriter faces a trade off between the level of underpricing and the fee. This is because if they underprice they face less risk of not being able to sell the issue, but the fee can be dependent on the value of the issue. This shows there is a trade off between spread and underpricing.And the theory suggests the issuer should delegate the decision of deciding the fee and the level of underpricing to the underwriter so they can balance the costs. Because the issuers do not have enough information, do not actually decide. This view can be supported by early studies focus on asymmetric information, which is one of the reasons of underpricing. Baron (1982) argues that asymmetric information exists between underwriters(better informed) and the issuers(less informed), therefore, underwriters are able to price new issues below the market equilbrium to reduce the probability that they will absorb losses due to unsold shares.Another theory which is the efficient contract hypothesis, whereby banks do not compete on the fee/spread, this is fixed, but compete on other quality variables such as underpricing certification and reputation. This once again highlights there is a relationship between spread and underpricing, as if spread is fixed , underpricing is a means for competing against other underwriters. Evidence of this was found by Honsen (2001) where____ issues where spread was fixed at 7%, there was a higher variation of underpricing, suggesting underwriters were competing on underpricing as they were not on the spread charged.Both principal-agent theory and efficient contract hypothesis showed evidence that there is negative correlation between spread and underpricing. However, Kim et al. found out that there is strong evidence that over the long term, underpricing and underwriting spreads are positively related. In particular, low-quality issuers are charged both higher underwriting spread and initial returns as compared to high-quality issuers. This was specifically prominent in low quality issuers who were charged fee of 7. 3% and underpricing of 45. 21%, whilist high quality issuers were charged fees of 7. 39% and underpricing of 18. 92%. This suggests a complementary relationship between spread and underpr icing particularly for low quality issuers. However, Yeoman(2001) suggested net proceeds maximisation theory, whereby the spread and underpricing are substitutes and negatively related. The found evidence of this in his research of IPOs from 1988 to 1933, where there are trade offs that the underwriter must decide between.This was further supported by Ljungquist(2003) who also found a negative relationship between spread and underpricing and therefore as initial returns increased the spread decrease and vice versa. Therefore, there is mixed evidence on ____initial returns and underwriting spreads in IPOs are complements or substitutes, ___evidence found of both a positive and negative effect. However, it is clear that there is a strong relationship returns, that must be managed by both issuers and underwriters.

Institutional Accountability Dispersion of Power and Delegation of Responsibilities

Institutional Accountability Dispersion of Power and Delegation of Responsibilities Introduction Governance and accountability is a critical concept to the development of states. Accountability in governance is a vital practice. It encourages effectiveness in discharge of duties and equitable allocation of resources. Accountability in different institutions has a close link with the way power is distributed in organizations. The loci of power in institutions are useful parameters for assessing the level of accountability in the organizations.Advertising We will write a custom essay sample on Institutional Accountability: Dispersion of Power and Delegation of Responsibilities specifically for you for only $16.05 $11/page Learn More Decentralization of power is highly encouraged in most liberal democracies across the world. Decentralization of power is manifested in a number of managerial practices in institutions like the delegation of the organization’s duties and responsibilities (Brinkerhoff et al. 2009). This paper looks into the aspects of centralization and decentralization of power in different institutions and how these two aspects of governance encourage accountability. In this paper, it is argued that institutions’ accountability is better attained through dispersion of power and the delegation of the organization’s responsibilities rather than through centralization of power and control. Accountable governance in liberal democracies Having mentioned liberal democracies, it is imperative to explain how the distribution of power encourages accountability in such nations. One vital characteristic of liberal democracies in the todays world is the high decentralization of power. Power and ability to make decisions in such countries do not lie in the hands of some individuals. Liberal states decisions are made through consultations between different arms of the government. This means that different arms of the government discuss, consult with each other and deliberate on the issues before the final decision is reached (Ezzamel et al. 2007). Decisions reached through consultation and deliberations are better weighed than those that are made unilaterally. Different bodies which deliberate on the issues and come up with certain suggestions are also involved in the implementation of such decisions (Brinkerhoff et al. 2009). Therefore, there is a low possibility of manipulating decisions in the middle phases of implementation. This encourages checks, ensuring that there is a balance in the implementation process. It is easy to detect anomalies in the implementation of the decisions because of the many observers monitoring the process.Advertising Looking for essay on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More Up to this point, it is imperative to say that liberal democracies encourage institutions’ accountability. Powers are decentralized from the top governance, leaving institutions with no other optio n, but to implement such structures (Mulgan,2003). Having talked about liberal democracies, it is vital to mention autocratic governance. Autocratic governance is the least desired form government in the modern society. Autocracy means the centralization of power. A few individuals are vested with decision making power, leaving other people as mere enforcers of the decisions reached. Channels of deliberating on issues are closed making most people rubber-stamp these decisions. The quality of decisions is put in jeopardy. Therefore, the level of accountability is often low in regimes which do not embrace democracy (Trechsel,2010). Governance and accountability in decentralized institutions Research shows that most people in the world are against the centralized system of governance. There are several reasons for the resentment. One of the strongest reasons is that centralized governance kills institutional accountability through the encouragement of unilateral decision making (Ezzame l et al. 2007). In centralized governance, there is one locus of power. Institutional functions are coordinated from a single point. In some instances, all the powers to make key decisions are left under the control of one individual. The result of this is that one person takes advantage of the power to make certain decisions, which might not be favourable to the whole country/institution (Kaler,2002). A deep look into the modern practices of institutional management shows that most organizations embrace decentralized structure of management. Delegation of authority and responsibility can be traced in a wider range of institutions. This is one form of decentralizing power and encouraging sharing of organizational power and responsibilities. This practice is replicated at almost all levels of governance in countries that embrace democracy. Notable examples can be traced in the United States, Western Europe, and Australia (Curtin, Mair Papadopoulos, 2010).Advertising We will w rite a custom essay sample on Institutional Accountability: Dispersion of Power and Delegation of Responsibilities specifically for you for only $16.05 $11/page Learn More These are the benchmark regions in as far as institution’s accountability is concerned. The question that should be asked is how the decentralization of power and delegation of responsibilities contributes to a higher accountability. Another issue that should be discussed at this point is how the centralization of power and responsibilities kills institutional accountability. These questions can be sufficiently answered by taking a deeper look into institution’s administration from two perspectives centralized and decentralized governance (Schillemanns, 2008). Decentralized institutional governance: its role in bringing about accountability Steets (2010) observed that institutional accountability was often measured by the level at which institutions planed and assigned resources ef fectively in order to get the desired results. Accountability means that employees in an institution embrace ethics in their work (Shearer, 2002). The application of decentralized principles in organizations entails the redistribution of authority in institutions’ management. In such institutions, power is shared among different people. Therefore, decisions are not made by a single authority. Each department is given powers to come up with their own suggestions that may be efficient. Each section of an organization has a head who leads it in coming up with decisions and implementing them using the available resources. Perhaps, one point should be noted here. Decentralized authority does not mean that there is no centre of power. Numerous centres of power exist within an organization. However, each centre of power is given autonomy in a number of duties. This is where the aspect of responsibility starts. Leaders of departments work closely with the organization’s member s. Institutional workers keep close checks on each other and on the overall duties that are assigned to them (Kaler,2002). Organizational tasks are not left in the hands of a few individuals but distributed among other segments of the organization. Leaving the task of decision making to fewer people has numerous consequences on institutions’ administration. One of the effects is that centralization of authority and responsibility causes flooding. Flooding encourages haphazardness in the discharge of institutional duties.Advertising Looking for essay on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More In such situations, it is easy for an institution to attain improved performance. In delegation, institutional responsibilities are assigned to people across the institution in such a way that no person is left with a wide load of work. This exercise depends on the abilities and skills of the institution’s workers. Therefore, it is easy to narrow on a person whenever anomalies occur in the institution. However, anomalies rarely occur because every individual is involved in the institution’s production. Institutions are seen in terms of their ability to serve the society and not in terms of power and dominance (Hood,2010). Power is a minor element in situations where there is a higher delegation of duties and responsibilities. In other words, power is replaced by responsibility. People work hard to accomplish their tasks as they are responsible for any task assigned to them. Most organizations in liberal democracies thrive in the global economy due to high levels of per formance. The highest level of performance comes from the fact that there is a high level of organizational responsibility due to delegation of duties and responsibilities (Steets, 2010). According to Behn (2001), a number of people argue that accountability can still be attained in institutions that have centralized operations. Their argument is that centralization promotes bureaucracy, which in turn encourages accountability in institutions. While there is some weight in the argument, the biggest portion of the argument is refuted. This comes from the numerous study outcomes. Those results show that bureaucracy does not encourage accountability. Most functions in bureaucratic institutions are centralized. Delegation of responsibility is a rare practice in such institutions. Conclusion Institutional accountability is closely associated with decentralized systems of governance. This system of governance is synonymous with liberal democracies. Liberal democracies encourage the decent ralization of power and delegation of administrative responsibility. Most institutions in liberal democracies embrace the democratic principles of management. These principles include delegation of institutional power and responsibilities. This system governance is synonymous with autocratic regimes. In such regimes, institutions’ accountability is quite low due to the failure to enhance delegation of authorities. Institution’s power is also highly centralized. From this discussion, it is imperative to say that there is a close relation between decentralization of institutions’ power and attainment of institutions’ accountability. Reference List Behn, R D 2001, Rethinking democratic accountability, Brookings Inst. Press, Washington, D.C. Brinkerhoff, D W, Johnson, R W, Hill, R, Merrill, S, Peacekeeping and Stability Operations Institute Army War College (U.S.) 2009, Guide to rebuilding governance in stability operations: A role for the military, Army War College, U.S. Curtin, D, Mair, P Papadopoulos, Y 2010, Accountability and European Governance, Routledge, New York. Ezzamel, M, Robson, K, Stapleton, P McLean, C 2007, ‘Discourse and institutional change: ‘Giving accounts’ and accountability’, Management Accounting Research, vol. 18, no. 2, 150-171. Hood, C 2010, â€Å"Accountability and Transparency: Siamese Twins, Matching Parts, Awkward Couple?†,West European Politics, vol. 33 no. 5, 989-1009. Kaler, J 2002, â€Å"Responsibility, accountability and governance†, Business Ethics: A European Review, vol. 11 no. 4, 327-334. Mulgan, R G 2003, Holding power to account: Accountability in modern democracies, Palgrave Macmillan, Basingstoke. Schillemanns, T 2008, â€Å"Accountability in the Shadow of Hierarchy: The Horizontal Accountability of Agencies†, Public Organization Review, vol. 8 no. 2, 175-194. Shearer, T 2002, â€Å"Ethics and Accountability: From the For-Itself to the For-the-O ther†, Accounting, Organizations and Society, vol. 27 no 6, 541-573. Steets, J 2010,Accountability in public policy partnerships, Palgrave Macmillan, Basingstoke, Hampshire. Trechsel, A H 2010, â€Å"Reflexive Accountability and Direct Democracy†, West European Politics, vol. 33 no. 5, 1050–1064.

HEALTH AND BEHAVIOURAL SCIENCES Lab Report Example | Topics and Well Written Essays - 1750 words

HEALTH AND BEHAVIOURAL SCIENCES - Lab Report Example as no difference found in the motivation of two groups, but the groups with the fewer choices were more satisfied with their decision and they also reported less difficulty levels. Do you have more variety of this product? I think we should visit the corner shop because my friend was telling me that they have a wide collection. I can apply for only a few colleges†¦ I wish I could apply for more college. How many times we have heard or used these sentences or similar kinds of statements. The importance of choices in our lives is very important and it is often realized. People always variety as they feel that it helps them in their decision making process. There are no two thoughts on the fact that choices are very important for us. The effect that choices have on our lives is misinterpreted or misunderstood many a times. Too many choices may not be as beneficial for us as we think they are. It is found that excess of choices can decrease the motivation to buy (Iyengar & Lepper, 2000). Psychology informs us today that choice between two desirable options can lead to dissatisfaction and stress (Huffman, 2008). These results are not in line with the common notion regarding choices. The ability to choose from a variety of alternatives is considered necessary for a better decision. Studies have also suggested that choices are very necessary for human beings and they increase the life satisfaction of people (Deci & Ryan, 1985). These studies have contradicting results and they may confuse a lay man. These results have also added obscurity on the subject of variety and choices to some extent. It is important to understand that variety is very important for people and their survival. However too many choices can lead to dissatisfaction and decrease in motivation. The problem with too many choices is that it increases the stress level of the people as they want to choose the best option (Moushart, 2008). Too many choices actually hinder in decision making by confusing

Critical analysis Essay Example | Topics and Well Written Essays - 1000 words - 1

Critical analysis - Essay Example At the end of the story, we find two stances being provided to the presence of the girls in the store. Ironically, both Lengel and Sammy have been looking at the girls with the same male stare, but end up performing very different actions as a result. While Sammy stands up for the girls' rights, the manager falls back on a conventional disapproval of their attire and embarrasses them for it. In Faulkner's short story, the crime is not rape - in fact, Minnie's friends even wonder if she was actually raped at all. The crime is that the men believe that a black man dared to rape a white woman. While the men punish him by killing him, the women are seen as gossipy and wanting to know details about the rape rather than trying to provide their friend with comfort. Point of view may be used as a thematic device when the author or narrator of a short story seems more concerned with presenting a perspective on the themes of the text, rather than telling a story or drawing attention to conventional aspects of character or plot. Virginia Woolf revolutionized the technique of presenting points of view with her use of stream of consciousness and the interior monologue. In "Kew Gardens" the point of view is that of the flower bed, while the bed and the insects and other features in it are presented in sharp focus, we only see a 'slice' of the lives of the people who are walking by. The first couple's passing by shows that they are estranged from each other - he is walking several steps away from her. Even the traumatic memory of losing his first love is a fragmented one, as it is revealed that he can remember insignificant things about it much more distinctly than he can - or wants to - recall the event itself, where his girlfriend turned down his proposal of marriage. His wife and children and his whole life seem insignificant in comparison to the small, trivial details magnified in the story. Russell Smith's short story uses point of view to juxtapose what people are and what they want to be. His protagonist finds life in the urban world oppressive, and the narrative point of view seems sardonic about life in such metropolitan centers as Toronto, where superficiality is the norm and true meaning is often forgotten. #3. Discuss irony as a strategic element in the story "The Age of Lead" by Margaret Atwood and the story "The Gospel according to Mark" by Jorge Luis Borges. In Atwood's "The Age of Lead'' the irony seems to be that two people who did not want finality in their lives end up with nothing but death and a 'frozen' existence. The body of the dead sailor that is frozen and being talked about non television is a strong metaphor for the lives that the narrator and Vincent have been living. Of particular significance seems the fact that the sailor has been dead for long, but that his body is perfectly preserved since he died in the Arctic. The body exemplifies a dead existence where one remains stagnant and may as well be dead. Vincent dies of an unnamed disease at a relatively young age, signifying that

The Dilemma of Starbucks Coffee Company's Expansion in India Case Study

The Dilemma of Starbucks Coffee Company's Expansion in India - Case Study Example According to the research findings, it can, therefore, be said that Indian market operations have also been curtailed by the fact that local competitors have upped their stake in the market share through their own home-made brews such as teas and herbal drinks. The Indian experience has further been marred by recent government regulations such as the applied limits on foreign investors’ total paid-up capital share the company. It’s the pricing strategy of the Starbucks Company that has put it in trouble in India. â€Å"Make every coffee drinker who visits Starbucks leave with a smile by creating unique atmospheres at every location, providing satisfying products, and delivering our high standard of customer service with every cup of coffee.† Starbucks is aspiring to be the most respected and recognized brand in the market. They are keen on expanding quickly in existing and new markets and have created Starbucks Coffee International (SCI) to facilitate this. Inter nal expansion is facilitated by their ability to form joint venture agreements with Starbucks stores outside the United States, the development of new stores in new global markets and working with local companies of high repute. Starbucks has realized that customers are their major asset. They lay great emphasis on creating their locations. Starbucks has realized that increasing profits is one of their major successors in time to come. Starbucks aim is to form relationships with renowned third parties who share their values and maintain high quality. Starbucks is always in the process of experimenting and creating new products and services to satiate their customers. The greater portion of Starbuck’s sales comes from their coffees and Italian-style espresso beverages. Apart from coffee Starbucks also has a wide range of products that includes pastries, coffee-related accessories, sweets, and equipment. They also started selling premium tea at their outlets. The company contin ues to expand its repertoire of products by introducing candy bars and fruit juices that can be found in supermarkets.

Major elements of mega-environment that impacted Xerox

Major elements of mega-environment that impacted Xerox Xerox Corporation is one of the worlds leaders in process and document management using the latest technology. Nevertheless, Xerox cannot avoid challenges from the mega-environment also known as the general environment. The mega-environment consists of several factors such as economic, legal-political and technological factors. The economy has a big impact towards Xerox. Even though Xerox is from the United States of America (USA), not only the US economy affects Xerox but the global economy too especially in nations which Xerox operates in. This is because now, the world is borderless. A change in one countrys economy affects other countries as well. The Y2K scare severely influenced Xerox as consumers became pessimistic thinking that all computers and storage devices will cease functioning because the year was recorded in two digits. In 2001, the high interest rates caused a recession which had badly affected Xerox to the extent that it was close to bankruptcy. The company recorded a loss of $344 million in two years alone (Daneman, 2010). Hoffmann (2009) states that Xerox have laid off at least 20,000 workers in 2001. The financial meltdown not too long ago has also impacted Xerox. According to Digital Trends (2008), the company will lay off 3000 employees to support the organization in the midst of the worsening economy. Reasons given by Anne Mulcahy, the ex-CEO and Chairman of Xerox, include to minimise their cost and to increase flexibility by having operational improvement throughout Xerox (Digital Trends, 2008). Xerox has also faced legal issues as the legal-political dimension also affects Xerox. Xerox faced ethical issues in the past concerning its accounts. It did not provide its investors the companys actual operational performance (Mokhiber, 2002). Some accounting information was distorted and regulations were not followed. This went against the generally accepted accounting principles which landed Xerox into trouble (Mokhiber, 2002). Xerox, which Affiliated Computer Services, Inc. (ACS) is part of the company, was charged with unreasonable labour practices. According to Communications Workers of America (CWA, 2010), there was no warning given by ACS/Xerox when they dismissed fourteen EZ Pass employees who are union activist. Nevertheless, it was not long when they got their jobs back as Xerox was faced with protesters who dispute the management actions (CWA, 2010). Thus, it is of utmost important that Xerox be highly ethical. Besides, technology plays a crucial role in the development of Xerox. In fact, technology is the core of Xerox. Without it, there will not be any Xerox. Beginning as a photocopier business, it soon developed into a graphic processing firm (Bartol and Martin, 1998). Then in 1970, the Palo Alto Research Centre (PARC) was established for innovation, research and development (Xerox, 2010a). Experts and specialists in related fields were brought together to create new technologies which greatly contributed to the technology advancement of today. In fact in 1995, Xerox actually expected the booming of the handheld device industry in the next decade. Xerox became the pioneer in developing the touch-screen technology for palm-sized gadgets and this technology was soon patented (Xerox, 2010a). According to Bartol and Martin (1998), Xerox entered the digital imaging sector by introducing the DocuTech. With this machine, documents are able to be produced electronically from computers. Soon, Xer ox developed DocuSP which is able to tie digital printers to some computer hardware (Bartol and Martin, 1998). Thus, technology basically defines Xerox and its achievement. (b) Explain clearly how the major elements make up the task environment of Xerox. Xerox is also affected by several elements from the task environment. Components of the task environment include competitors, suppliers as well as the labour market. Competitors of Xerox are those corporations which operate in the same industry as Xerox and cater to the same group of customers. The industry Xerox is in mainly deals with office products and production equipment. According to Bartol and Martin (1998), one of Xeroxs tough competitors, Canon, from Japan was able to acquire a large proportion of market share in the low-end market. The public would most probably have cameras in their mind when one talks about Canon. In fact, office equipment generates as much as 77% of Canons total revenue while cameras only generate 13% (Holstein, 2002). Canon then took over the low-end market with Xerox withdrawing from the market giving reasons that they want to focus on the higher-end market instead (Holstein, 2002). Besides, Canon is entering the high-end market which had been Xerox stronghold. Holstein (2002) states that Canons laser copier market share in U.S. greatly increased in 1998 while Xeroxs market share dramatically decreased. Furthermor e, Xerox also faced competition from Ricoh. Ricoh began to introduce cheaper, smaller and more efficient machines (Funding Universe, n.d.). This definitely appeals to consumers as these machines are not only cheaper but more convenient. Ricohs plan was to get hold of the low-end market then proceed up (Funding Universe, n.d.). Thus, Xerox faces a lot of competitive pressure on a global stage. Suppliers are most definitely important for Xerox. Without suppliers, Xerox cannot operate as they cannot produce all their products and equipment. Xerox suppliers provide the company with materials needed for the production. Xerox is also lauded for its Supplier Diversity Program. Xerox has reputable relationships and partnerships with women, minority as well as service-disabled veterans businesses (Xerox, 2010b). Having a range of diverse suppliers shows that Xerox supports the whole community and does not practice discrimination. According to Xerox (2010b), the company get its suppliers to subcontract produced parts and assemblies. Besides, Fuji Xerox, its Japanese affiliate, with its business partners began to recognise the importance of social corporate responsibility in sourcing goods (Fuji Xerox, 2010). The companies looked into the issue and effects towards the environment and human rights (Fuji Xerox, 2010). The labour market is also important to Xerox. With companies like Xerox, employees are expected to be computer-literate and to be continuously innovative (Daft, 2010). However, the labour market is influenced by several parties such as labour unions and employees association (Daft, 2010). In 2008, Xerox stated that agreements concerning early retirements and medical benefits made after 1995 will no longer be valid in 2010 (West, 2009). According to West (2009), members of the Association of Retired Xerox Employees (ARXE) did a peaceful protest as they wanted to voice their concerns at the Annual Stockholders meeting. In 1980, over a hundred thousand of Xerox employees were trained in the Leadership through Quality program (Bartol and Martin, 1998). The employees addressed environmental issues and focused on quality improvements (Future 500, 2010). Xerox managed to save cost thus increasing its profit. Therefore, Xerox must pay close attention to all factors of the task environment as they affect the company in various ways. (c) Discuss the organizational cultures at Xerox during the McCullough and Kearns eras. Both Peter McCullough and David Kearns were prominent individuals in Xerox. Each of them impacted Xerox differently during different times. Both CEOs projected different organisational cultures in Xerox. According to The Times 100 (2010), organisational culture is the way things are seen and done. The culture summarises what is good and has been a success in the past (The Times 100, 2010). Nevertheless, there can be a culture shift when new managers replace the old ones like Kearns taking over as CEO of Xerox from McCullough which may change the organisations culture (The Times 100, 2010). In 1968, McCullough became the CEO of Xerox (Bartol and Martin, 1998). According to Rao (2007), McCullough greatly understood the importance and the necessity of new inventive technology. He had much confidence in research and development which resulted in the establishment of PARC. He focused a lot on innovation and development of new ideas. Thus, an entrepreneurial culture at his time. McCullough also increased the levels of the hierarchy in Xerox to manage the companys growth (Bartol and Martin, 1998). However, he overdid it which resulted in red tape. The elements of culture during the McCullough era points Xerox as a mix of Apollo and Athena organisation. There is an integration of role and task culture because McCullough emphasised on innovation while making Xerox more organised and bureaucratic as well. The red tape greatly affected Xeroxs product development. Furthermore, McCullough unwillingness to import a low-volume copy machine earlier from its affiliate, Fuji Xerox, resu lted in competitors taking control of a large proportion of the low-end market (Bartol and Martin, 1998). Then, Kearns took over as CEO in 1982 to 1990. When Kearns took control of Xerox, he was determined to change the corporate culture and place customer satisfaction as the companys top priority (ReoCites, 1996). He also focused a lot on keeping the cost low, paying more attention to customers and maintaining a high quality (Bartol and Martin, 1998). According to Bartol and Martin (1998), the companys structure became flatter as layers of management were reduced. Thus, there is more employee empowerment as decision-making is pushed to the lower levels. Employees also began focusing more on quality and customer service after going through the Leadership through Quality program (Bartol and Martin, 1998). This is in line with Kearns vision. He concentrated on customer satisfaction more than profits or market share. Hes judgment paid off when buyer satisfaction went up by 40% while complaints fell by 60% after the program was implemented (ReoCites, 1996). These are great improvements as th is will indirectly increase the profits. Although both CEOs portrayed a slightly different culture, they were important in building Xerox. Failures and missteps of both parties are taken as learning experiences while successes and achievements are recognised and remembered.

Effects of Corn Monoculture on Soils: Models for Change in American Agr

Effects of Corn Monoculture on Soils: Models for Change in American Agriculture According to writer and environmentalist Vandana Shiva, "the crucial characteristic of monocultures is that they do not merely displace alternatives, they destroy their own basis"(1993, p.50). If the self-destruction of a monoculture is really so simple, it seems that continuous cropping agriculture should long have been abandoned for a more suitable method. Unfortunately, the problem is far more complex. This paper will focus on the effects of corn monoculture on soils in general, the development of the monoculture in the United States and the effects this had on soil in this country. Through the exploration of other models, suggestions will then be made on how to modify the continuous cropping system in the United States into a more sustainable one. The first piece of evidence that the continual cropping system is inefficient, is that it is the least productive growing system. In experiments done in Wooster, Ohio, it was found that a field where crop rotation was used could produce 27.62 bushels of corn per acre, a field with continual cropping produced only 13.33 bushels per acre, and where chemical fertilizer was used on a continuous cropped field, 30.53 bushels per acre were produced (Weir, 1936,p. 502). Though it interesting that these facts are fundamental enough to have been discovered before 1936, it should also be noted that a recent eight year study done at the University of Nebraska, where scientists compared thirteen cropping systems, "the results confirmed the findings of studies done in the first half of the century"(Committee on the Role of Alt. Farm. Methods, 1989, p.229). If continual cropping is the least effective method o... ...ouncil, 1989, Alternative Agriculture: Washington, D.C., National Academy Press. Food and Agriculture Organization of the United Nations, 1980, China: Multiple Cropping and Related Crop Production Technology, report on the fao/undp study tour or the People's Republic of China, 25 June- 22 July 1979: Rome, United Nations Publishing. Hudson, John C., 1994, Making the Corn Belt: A Geographical History of Middle-western Agriculture: Bloomington, Indiana University Press. Miracle, Marvin P., 1966, Maize in Tropical Africa: Madison, University of Wisconsin Press. Shiva, Vandana, 1993, Monocultures of the Mind: Perspectives on Biodiversity and Biotechnology: London, Zed Books Limited. Weir, Wilbert W., 1936, Soil Science : Its Principles and Practice Including Basic Processes for Managing Soils and Improving their Fertility: Chicago, J.B. Lippencott Company.

George Washington Most Significant Domestic Accomplishment History Essay

Most important domestic achievement: Washington ‘s most important domestic achievement was to be elected the first president of the United States, every bit good as to be the lone president to be voted in nem con. Twice. The ground I chose this as his domestic achievement is because he set the criterion for future presidents. Most important foreign achievement: Washington ‘s most important foreign achievement was his dedication to neutrality. This disquieted some in France, who felt that they were owed something from the United States. Even during his Farwell reference he warned against going entangled in foreign personal businesss. The ground I chose this as his foreign achievement is because the US was already exhausted after the radical war, and if it were n't for Washington ‘s policy of neutrality, the US could hold been ruined. Economic Policy: Washington ‘s economic policy was centered on refunding Revolutionary War debts, and stabilising the US ‘ economic system. One illustration of this is the creative activity of the first National Bank in 1791, every bit good as the creative activity of the US Mint. Besides, during Washington ‘s presidential term duties were raised in order to assist pay for the war. Washington and Alexander Hamilton ( Treasury secretary ) set the foundation for economic programs in the hereafter. Major Events: Major events include forming the executive subdivision, the confirmation of the Bill of Rights, and set uping the US Federal Judiciary. Most of the major events during Washington ‘s presidential term involved set uping or forming. Again, Washington ‘s presidential term set the foundation for future presidents to come. Major Obstacles: The biggest obstruction Washington ‘s presidential term was the fact that he was the first president. Washington did n't hold anyone to look back on, or anyone to speak to that had more experience than he did. The authorities model that we have today did n't be back so, he was the 1 that had to set up it. Other Info: George Washington ‘s award is exemplified by the fact that he could hold remained president for every bit long as he wanted to, yet he left after his two footings were up. Washington was an honest, hardworking president, who set the model for the authorities that we know and love ( detest? ) today.John Adams ( 1797-1801 )Most important domestic achievement: Adams ‘ most important domestic achievement was the passing of the Alien and Sedition Acts. These Acts of the Apostless were four measures passed in 1798. They included the Naturalization Act and the Sedition Act. The Sedition Act made it a offense to print false or malicious Acts of the Apostless against the authorities. Most important foreign achievement: Adam ‘s most important foreign achievement was maintaining the United States out of the Napoleonic Wars ( Britain v. France ) . The ground this is important because the United States was still retrieving from the radical war, and fall ining in with either Britain or France would hold torn the state apart every bit good as bankrupted it. The hazard for war was particularly high when France began prehending American merchandiser vass. Economic Policy: John Adams was a Federalist, so he believed in bigger authorities and higher revenue enhancements. Adams did n't truly hold any important achievements in the economic field, as he was merely the 2nd president of the United States. Major Events: Major events during Adam ‘s Presidency include the Alien Sedition Acts, the initiation of the United States Navy and Marine Corps, naming John Marshall to the Supreme Court, and stoping the war in France through diplomatic negotiations. Another major event was Adams ‘ midnight assignments of Judgess to the Supreme Court. Major Obstacles: Adams had to follow the great lead of George Washington. Besides, he had to take whether to back up Britain or France in the Napoleonic wars. Other Info: One interesting fact about John Adams is that he was a attorney for the British Soldiers accused of opening fire on a crowd of Americans during the Boston slaughter. Adams and the officers won. After supporting BRITISH, John Adams still made it to the United States Presidency.Thomas Jefferson ( 1801-1809 )Most important domestic achievement: Jefferson ‘s most of import domestic achievement was geting the Louisiana Territory through the Louisiana Purchase. Since Jefferson was a rigorous constitutionalist, there needed to be a particular amendment drafted to give Congress power to buy the district. The district was purchased from the Gallic in 1803 for $ 15 million. Most important foreign achievement: Jefferson ‘s most important foreign achievement was the trade stoppage act of 1807. The act was put in topographic point following the Chesapeake-Leopard incident, where the American Chesapeake refused to subject to a hunt from the British Leopard. The act cut off American trade to Britain and France. Runner ups include the dialogue for the Louisiana district in France and staying comparatively impersonal in Europe. Economic Policy: Jefferson ‘s Economic policy was designed to extinguish American national debt. Jefferson felt that the United States did non necessitate to keep a national debt, and he besides repealed many Federalist revenue enhancements. One of the revenue enhancements repealed was the Whiskey revenue enhancement, which prompted the whiskey rebellion during Washington ‘s Presidency. Major Events: Major events include the Louisiana Purchase, the repealing of Federalist revenue enhancements, an effort to extinguish the national debt, and the beginning of Indian resettlement. Major Obstacles: Most of the major obstructions faced by Jefferson were due to the fact that the United States authorities was still immature. His biggest obstruction was taking all of the thoughts that were thought up before the revolution and do them concrete through Torahs and statute law. His presidential term tested how a philosopher such as Jefferson would work as a politician. Other Info: Thomas Jefferson undertook the battle against Adams ‘ midnight assignments. As you will remember, before John Adams left office he made legion midnight assignments, and these disquieted Jefferson. Jefferson worked difficult to take these assignments, and by making so left many Federalists without occupations. Jefferson besides fought against the creative activity of the first bank of the United States.James Madison ( 1809-1817 )Most important domestic achievement: Madison ‘s most important domestic achievement was eventually guaranting the People of the United States that independency from Britain had eventually been to the full reached. This happened after the war of 1812, in which we fought the British for the last clip in history, and for the 2nd clip in history we won. Most important foreign achievement: Madison ‘s most of import foreign achievement was the war of 1812. The war of 1812 was seen as a 2nd war for independency by some, and truly so. The war started because British naval officers would seek US ships and affect any British crewmans found on board. This, along with trade issues and other things caused tenseness between the United States and Britain. The war started in 1812 and lasted until 1815. The war was fought on land every bit good as on sea. Most of the combat on land was centered on the US Canada boundary line, and in the southern provinces. The ocean contending took topographic point on the Atlantic. The war ended on February 16, 1815 with the Treaty of Ghent. The war ended in a deadlock. Economic Policy: Madison supported the Second Bank of the United States, every bit good as high duties to protect new industries developed during the war of 1812. Since during the war domestic industrial strength was necessary, it was built up. Madison did non desire that industry to vanish after the war, so he implemented high duties. Major Events: Major events include the war of 1812, the initiation of the 2nd bank of the United States, a duty hiking to protect industry, the beginning of the Era of Good Feelings, and the prostration of the Federalist Party. Major Obstacles: The largest obstruction to Madison ‘s presidential term was the war of 1812. Madison is frequently criticized by historiographers for non avoiding war in the first topographic point, and utilizing diplomatic negotiations alternatively. Other Info: James Madison was a president who frequently changed his sentiment on cardinal issues. A major illustration of this was Madison ‘s initial disfavor of the add-on of a Bill of Rights to the Constitution, until he changed his head and became the writer of the Bill of Rights.James Monroe ( 1817-1825 )Most important domestic achievement: Monroe ‘s most of import domestic achievement was the execution of the Missouri Compromise. The Missouri Compromise was an understanding passed in 1820 that banned slavery above Missouri ‘s southern boundary line. The via media came after Missouri ‘s application to the brotherhood was rejected as a slave province. The passing of the Missouri via media was a beginning to what would finally germinate into the Civil War, because it began the North/South – No Slave/ Slave division of the state. Most important foreign achievement: Monroe ‘s most important foreign achievement was the establishing of the Monroe Doctrine. The Monroe Doctrine was put in topographic point in 1823 and fundamentally said that Europe was non welcome to come and colonise in the western hemisphere any longer, and that any effort at colonisation would be seen as a hostile act toward the United States, and would be dealt with quickly. The Monroe philosophy was a two sided trade though, so if Europe stayed out of America ‘s personal businesss, America would remain out of Europe ‘s personal businesss. Economic Policy: Monroe had troubles implementing economic policies because the terror of 1819 was doing a barbarous economic depression. This was the first major economic problem in the United States, so there were troubles in calculating out what to make about it. The crisis caused bank failures, foreclosures and unemployment ( sound familiar? ) . This was the terminal of the station war of 1812 growing. Monroe aided the economic system with Torahs like the Land Act of 1820 and the Relief Act of 1821. By 1823 the depression was over. Major Events: Major events include the Monroe Doctrine, the terror of 1819, the Missouri issue, the Missouri Compromise, the epoch of good feelings, and assorted internal betterments like roads, toll-roads, and canals. Major Obstacles: The terror of 1819, as it was the US ‘ first major depression. Other Info: James Monroe ‘s most of import part to history was the Monroe Doctrine, which would be brought up infinite times in defence of states in the Western hemisphere, whether it be for their benefit or for ours.John Q Adams ( 1825-1829 )Most important domestic achievement: Adams ‘ most important domestic achievement was the development of the American system. The American system was a high duty that supported internal betterments such as roads and canals. Along with bettering the state ‘s substructure, the American system promoted a individual national currency and a national bank. Adam ‘s program was really ambitious, and because of this non all of his proposals were accepted, but some were. Most important foreign achievement: Adams did n't truly hold any major foreign achievements as president. This is because before he was elected president, he was secretary of province, and as such solved most of the foreign jobs that would hold come up during his presidential term. This does non intend that Adams had a bad foreign policy ; it merely means that he put out most of the fires before they started. Economic Policy: Adams ‘ economic policy was centered on his thought for the American system. This meant that a batch of money was spent on internal betterments to the state, such as the edifice of canals and roads. Some of the betterments include the building of Portland canal and Dismal Swam canal. Adams besides believed in a incorporate national currency every bit good as a national bank. Major Events: Major events include the development of the American system, the effort a incorporate national currency, the constitution of the National Republican Party, and the sign language into jurisprudence of the duty of abominations. Major Obstacles: Adams was a hardworking, loyal to his state adult male who had undeniable intelligence. On paper, these are great qualities for a president. Trouble was that Adams refused to play political relations, and he failed to construct a loyal following. Therefore, he was doomed when re-elections rolled around. Other Info: It was during Adams ‘ presidential term that the duty of abominations was signed into jurisprudence. The South did non like the duty because it put a high revenue enhancement on goods the part had to import. This duty would construct up to the nullification crisis of 1832.Andrew Jackson ( 1829-1837 )Most important domestic achievement: Jackson ‘s most of import domestic achievement was the peaceable declaration of the Nullification Crisis. The Nullification Crisis of came about as a consequence of the duty of abominations, which raised duties on goods that the South had to import. The issue started when South Carolina claimed it had a right to invalidate the duty of abominations. A series of menaces followed the claim, both on the presidents and South Carolina ‘s side. The crisis ended when a via media duty was agreed upon and South Carolina retracted its old statements. Most important foreign achievement: During Andrew Jackson ‘s presidential term, there were no wars or struggles in either Europe or America, so Jackson focused on work outing the state ‘s domestic jobs instead than foreign 1s. Economic Policy: Andrew Jackson is the lone president in American history to pay off the national debt. Besides, he was really against the national bank. Because of this ( after a immense battle ) he vetoed the Bankss re-charter in 1832. After the national bank was removed, province and local Bankss sprang up and began to impart money. The job was that the Bankss lent more money than they had endorsing for. This over loaning on the portion of province and local Bankss was a direct cause of the terror of 1837. Major Events: Major events include the paying off of national debt, the enlargement of the spoils system, the nullification crisis, the closing of the 2nd bank of the United States, the remotion of Indians, and the blackwash effort on Jackson. Major Obstacles: The largest obstruction faced by Jackson was the nullification crisis, and had it non been solved the manner it was, the United States could hold split. This was merely one more measure on the route to the civil war. Other Info: Jackson was seen as a common adult male president. On his startup twenty-four hours people were allowed into the White House, doing it a large party and destroying furniture and rugs.Martin Van Buren ( 1837-1841 )Most important domestic achievement: Van Buren was a president that inherited the economic meltdown that Jackson left after closing down the national bank. In response to the depression and economic meltdown, Van Buren created the Independent Treasury System. This system was created to maintain federal financess, since so many Bankss were fall ining due to the depression. If he had non created this system, federal money would hold gone into the unstable province and local Bankss. Most important foreign achievement: During Van Buren ‘s presidential term, the United States kept out of the wars taking topographic point in Europe, so the foreign policy forepart was reasonably weak during his presidential term. Besides, the McKenzy rebellion took topographic point in Calgary, where the Gallic attempted to subvert British regulation in Canada, but the United States kept out of that struggle every bit good. Economic Policy: The most of import thing Van Buren did economically was to set up the Independent Treasury System. The Independent Treasury System allowed the United States authorities to set federal money in a safe topographic point, instead than in province or local Bankss which were really unstable at the clip. Major Events: Major Events include the terror of 1837, the constitution of the Independent Treasury system, and the deficiency of any kind of strong foreign policy. Major Obstacles: Van Buren was the president who suffered the effects of Jackson ‘s shutting of the national bank. This was his largest obstruction, because all of his policies were based around cleaning up the muss he inherited from Jackson. Other Info: Van Buren ‘s presidential term took topographic point during a dry enchantment in American political relations. This was a clip of tiring presidents that made no truly groundbreaking determinations.William Henry Harrison ( 1841 )Most important domestic achievement: Harrison ‘s most important domestic achievement was siting through cold Washington DC without a chapeau or coat, and giving the longest inaugural reference in history. As a consequence of this, Harrison had the shortest presidential term in history. Most important domestic achievement: Harrison did n't hold a foreign policy because his presidential term lasted a humongous 31 yearss, 12 hours, and 30 proceedingss. Economic Policy: Harrison did n't hold an economic policy because his presidential term lasted a humongous 31 yearss, 12 hours, and 30 proceedingss. Major Events: Major events include being inaugurated on March 4, 1841, and deceasing on March 26, 1841. Major Obstacles: The biggest obstruction confronting Harrison was the fact that his presidential term lasted 22 yearss. If that ‘s non an obstruction, I do n't cognize what is. Other Info: Harrison had the longest startup reference in history, but the shortest presidential term.John Tyler ( 1841-1845 )Most important domestic achievement: Tyler ‘s most of import domestic achievement was the appropriation of Texas in 1845. Texas would travel on to go a province nine months subsequently. Another achievement was the declaration of the Dorr rebellion. The Dorr rebellion was an armed rebellion that took topographic point in Rhode Island due to Thomas Wilson Dorr ‘s discontent with the province ‘s electoral system. As a consequence of the rebellion, Rhode Island granted right to vote to all freewomans irrespective of race. Most important foreign achievement: Tyler ‘s most important foreign achievement was the confirmation of the Webster-Ashburton pact, which defined a clear boundary line between Maine and Canada. Other than that, Tyler was a pretty laid back president during a stale clip in American political relations, so he truly did n't carry through much. Economic Policy: John Tyler was a Whig, and such he believed in the American system around which the Whigs economic policy centered. As a Whig, Tyler believed in a high protective duty, a national bank, and a strong internal substructure. These beliefs are how the Whig party started-because of their resistance to Jackson ‘s remotion of the 2nd bank of the United States. Major Events: Major events include the Dorr rebellion, the Webster-Ashburton pact, the blackwash effort on his life, and the stoping of the 2nd Seminole war. Major Obstacles: Tyler ‘s biggest obstruction was that he took office on such short notice. After Harrison died, Tyler was following in line to go president. After he took office, he was expected to lodge closely to the Whig ‘s party beliefs. He did n't. the perfect illustration of this is his twice vetoing of the statute law for the national banking act. Other Info: Tyler was a adult male that went into office out of the blue. He originally thought he was traveling to be Vice president, and so Bam: he ‘s president. This was a clip of deadening American political relations.James K Polk ( 1845-1849 )Most important domestic achievement: Polk ‘s most of import domestic achievement was the successful geting of the Oregon district from Great Britain. Since 1818 the district was under joint business by both America and Britain, but after Polk came into office he put a batch of force per unit area on Britain to give up the district. The Oregon pact of 1846 divided the Oregon district along the 19th analogue. Most important foreign achievement: Polk ‘s most important foreign achievement was the pact of Guadalupe Hidalgo. The pact of Guadalupe Hidalgo was a pact that came approximately after the terminal of the Mexican American war. The dainty gave the United States 525,000 square stat mis of land for $ 15 million. Economic Policy: Polk, being a Democrat, focused on cut downing the consequence of the Whig ‘s economic policy. He reduced the duty of abominations and abandoned many other duties. In 1846, Polk approved a jurisprudence that restored the Independent Treasury System, under which authorities financess were held in the Treasury instead than in unstable province and local Bankss. This established independent exchequer sedimentation office to have all authorities financess. Major Events: Major events include the pact of Guadalupe Hidalgo, the remotion of the duty of abominations, the geting of the Oregon district, the appropriation of Mexico, the American Mexican war, and the effort to by Cuba. Major Obstacles: The biggest obstructions during Polk ‘s presidential term had to make with the geting of land. First the Oregon district so the American Mexican war, so the appropriation of Texas. Other Info: Polk was one of the first presidents to encompass the thought of manifest fate, and to take the Unites States on a way of enlargement.Zachary Taylor ( 1849-1850 )Most important domestic achievement: Taylor ‘s most important domestic achievement was the organisation of the section of the inside. The section of the inside is the section that trades with the direction and preservation of federal lands. Moat important foreign achievement: Taylor ‘s most of import foreign achievement was the confirmation of the Clayton Bulwer pact. The Clayton Bulwer pact made it clear that neither the United States, no Britain would entirely have or keep a canal in South America. The pact did give the United States a leg up diplomatically. Economic Policy: Zachary Taylor was a Whig, and such he believed in the American system around which the Whigs economic policy centered. As a Whig, Taylor believed in a high protective duty, a national bank, and a strong internal substructure. Major Events: Major events include the organizing of the section of the inside, the Clayton Bulwer pact, bondage in the West, and the via media of 1850. Major Obstacles: Taylor ‘s presidential term lasted merely one twelvemonth. That was a reasonably large obstruction. Other Info: Zachary Taylor was a deadening, center of the route president. Besides, he was president during a distressingly deadening clip in American political relations.Millard Fillmore ( 1850-1853 )Most of import domestic achievement: Fillmore ‘s most of import domestic achievement was the Compromise of 1850, which admitted California to the Union and settled the issue of bondage in freshly acquired districts. It repealed the Missouri Compromise and divided the state along the 37th analogue. When districts applied for statehood the people of the province would make up one's mind whether to be free or break one's back. In return, the North passed a Fugitive Slave Bill, which allowed for the apprehension of fleeting slaves in the Free provinces. Most of import foreign achievement: Fillmore ‘s most of import foreign achievement was his promise to maintain out of Cuba for the exclusive intent of it non going a slave province. This is important because there had been talk of purchasing Cuba. Economic Policy: Millard Fillmore was a Whig, and such he believed in the American system around which the Whigs economic policy centered. As a Whig, Fillmore believed in a high protective duty, a national bank, and a strong internal substructure. Major Events: Major events include the via media of 1850, the burying about Cuba, being a Whig, and holding the last name Fillmore. Major Obstacles: Fillmore, like the last three presidents I ‘ve written about was a deadening president with deadening policies during a deadening clip in American political relations. That ‘s an obstruction. Other Info: Millard Fillmore did n't hold a frailty president, likely because he took over right after Taylor.Franklin Pierce ( 1853-1857 )Most important domestic achievement: A Pierce ‘s most of import domestic achievement was the transition of the Kansas Nebraska act. The Kansas Nebraska act created the districts of Kansas and Nebraska, and besides repealed the Missouri via media of 1820. Besides, the act put the pick of bondage in the people ‘s custodies ( by voting ) . As a response to the act the Republican Party was created. Kansas was admitted to the brotherhood as a free province, and Nebraska was non admitted until after the civil war. This act was a major blow in the stableness of the state, and was a direct cause of the civil war. Most important foreign achievement: A In foreign policy, Pierce wanted to demo a strong Democratic assertiveness. Many particular involvement groups pushed to take Cuba from weak and distant Spain. He besides wanted to open trade with Japan, which at the clip was unheard of. Finally he wanted to derive the advantage over Britain in Central America. The job was, Pierce was a really uneffective president and accomplished really few of his ends. Economic Policy: The state was holding a period of economic growing and there was peace on the economic forepart, but when an issue did come up his disposal Pierce did small to quiet the feelings that it aroused, and sectional lines were redrawn. Major Events: Major events include the Kansas Nebraska act, the via media of 1850, the Free State vs. slave province argument. Major Obstacles: Pierce ‘s biggest obstruction by far was his inability to take. He was a sympathetic cat, and made many friends in authorities, but when it came to acquiring things done he merely could n't. He talked quietly, but forgot his large stick at place. Other Info: Pierce is called one of the worst presidents in US history. The worst.James Buchanan ( 1857-1861 )Most important domestic achievement: Buchanan ‘s most important domestic achievement was the Dred Scott determination. A In 1857 an of import determination was given by the Supreme Court. The Dred Scott instance was put through by the North with the best purposes. But, the tribunal ruled that Dred Scott and all inkinesss were non citizens of the United States and as such had no right to action in the Supreme Court. To add abuse to injury, the Missouri Compromise was declared unconstitutional because merely provinces had the right to prohibit bondage. The populace in the North was outraged by this determination and refused to obey it. This caused tensenesss to turn, and brought the state to the threshold of civil war. Most important foreign achievement: Buchanan did n't truly hold a foreign policy. This was because he had to concentrate on the domestic issues. This was particularly true when it came to the Dred Scott determination, which made the north really disquieted and brought the state to the threshold of civil war. Economic Policy: Buchanan ‘s economic policy focused around incorporating the terror of 1857. The terror of 1857A was a downswing in the United States ‘ economyA that occurred in 1857. A recession began in 1856, but the failure of Bankss and concerns started a true terror in 1857. While the economic downswing was short, the recovery was was n't. The permanent impact of the terror lasted until the beginning of the civil war. Major Events: Major events include the Dred Scott instance, the Lincoln Douglas debates, and the constitution of the pony express. Major Obstacles: Most of Buchanan ‘s obstructions were political. As the civil war drew nearer, and sectional lines grew deeper, Buchanan faced more and more resistance from the southern United States. Other Information: Because of his inability to defuse the civil war state of affairs, James Buchanan is rated as one of the worst presidents of all clip.Abraham Lincoln ( 1861-1865 )Most important domestic achievement: The civil war was Lincoln ‘s figure one focal point during his presidential term was the civil war. The civil war started before Lincoln ‘s presidential term, and all of the war was left for Lincoln. After the first major Union triumph at Antietam, Lincoln gave the Emancipation Proclamation. It freed slaves in all districts that were non occupied by the Union ground forces. The emancipation announcement had two ends: foremost to maintain the British from assisting the South and to get down break one's back rebellions. The civil war ended 1865 when General Lee surrendered at the Appomattox courthouse. Most important foreign achievement: Lincoln ‘s most of import foreign achievement was maintaining ties with Europe during the war. During the Civil War, both the North and South of the United States wanted to maintain ties with the European states, peculiarly Britain and France. The British supported the South until the Emancipation Proclamation changed the focal point of the war, and they realized that back uping the South would be seen as support for bondage. This of class would be morally incorrect. Economic Policy: Lincoln ‘s economic policy was based around the civil war. Most of the money in the state went to the war. As you can conceive of, a war a big and dearly-won as the civil war does n't give much clip to shave any other economic policies. The economic policy helped give money to the North in order to crush the South in the civil war. Major Events: Major events include the civil war, the sequence of the South, the conflict of Antietam, the emancipation announcement, the winning of the war, and the blackwash of Lincoln. Major Obstacles: Lincoln ‘s biggest obstruction was the civil war. All of his policy was based around the war. His full disposal focused on the war. Other Information: Because of Lincoln ‘s suburb handling of the civil war, he is ranked as one of the state ‘s best presidents. Will he interrupt the form of stale tiring presidents? Stay tuned to happen out.Andrew Johnson ( 1865-1869 )Most important domestic achievement: Johnson ‘s most important domestic achievement focused around Reconstruction after the civil war. After Lincoln was assassinated, Johnson attempted to take control of the Reconstruction. But, with Lincoln dead, Congress forgot took that power from Johnson. Rather than utilizing of Lincoln ‘s 10 per centum program, a much harsher program was put in topographic point for readmitting provinces into the Union. States had to sign the thirteenth and 14th amendments to recover their seats in Congress. Merely Tennessee passed the 14th amendment. Because of Johnson ‘s inability to manage the South, he was impeached. Most important domestic achievement: Johnson ‘s best foreign policy determination by far was to buy Alaska from Russia for 15 million dollars. After it purchase, people mocked Johnson and his disposal for buying nil more than a large refrigerator. It was n't until after Johnson ‘s presidential term that the true value was realized. Gold and oil were found at that place doing the purchase of Alaska a good determination after all. Economic Policy: Johnson ‘s economic policy was based around the purchase of Alaska. The United States needed to set up 15 million dollars in order to buy Alaska, and at the clip that was a monumental undertaking. Because of the civil war, money was tight, and it took a batch to acquire Congress to hold upon giving the money for what at the clip was nil more than and icebox. Major Events: Major events include the 13-15th amendments, the purchase of Alaska, the Reconstruction of the South, and the impeachment of Johnson. Major Obstacles: Johnson ‘s largest obstructions came from inside the authorities. A perfect illustration of this is the Reconstruction attempt of the South. Since Congress was unhappy with Johnson ‘s work they took the Reconstruction powers from him. Other Info: Johnson was the first US president to be impeached, but non the last.Ulysses S Grant ( 1869-1877 )Most important domestic achievements: Grants most of import domestic achievements had to make with all of the dirts he was involved in. Grant ‘s cabinet consisted of his old friends who used their stations to do money and have power. Because of this, Grant ‘s disposal was filled with corruptness. Most important foreign achievement: Grant ‘s foreign policy had to make with keeping Britain responsible for its â€Å" neutrality † during the civil war. During the Geneva courts, the British were found guilty and the United States got 15 million dollars for their problems. Besides, the United States and Britain agreed on boundaries for angling and such. Economic Policy: Grant ‘s economic policy had to make with economic growing and enlargement. Although grants disposal had more leaks than a slug filled ship, there was still economic enlargement. The populace was really happy with Grant ‘s decrease of the national debt. Major Events: Major events include the completion of the transcontinental railway, the 15th amendment which gave all citizens right to vote, and the innovation of the telephone. Major Obstacles: The biggest obstruction confronting Grant and his disposal was the corruptness that was wild present at that place. Grant was cogent evidence that a great military leader does non needfully do a great president. Other Info: Grant was a president with possible, but he chose to allow his friends into his disposal, and to let corruptness to run in his presidential term.Rutherford B Hayes ( 1877-1881 )Most important domestic achievement: Hayes ‘ most of import domestic achievement was the civil service reform. Hayes gave anA executive orderA that prohibited office holders from acquiring party money. This led Hayes to take many employees in authorities in an attempt to â€Å" clean house † and put an terminal to party corruptness. This led to tenseness between Hayes and members of authorities. Most important foreign achievement: Hayes said in his Inaugural Address that he wanted the state to maintain â€Å" our traditional regulation of nonintervention in the personal businesss of foreign states. † He was really good at following this policy, and because of it he kept out of foreign affairsaˆÂ ¦.except for the edifice of the Panama Canal, which he attempted but did n't win due to political grounds. Economic Policy: Hayes was a fiscal conservative. As a fiscal conservative Hayes believed in little authorities, strong concern, and limitation free capitalist economy. Besides, he believed in low revenue enhancements. Major Events: Major events include the terminal of Reconstruction, the railway work stoppage of 1877, and the installing of electric street visible radiations, the via media of 1876, and the bland Alison act. Major Obstacles: Hayes ‘ biggest obstruction was the fact that he won the election by such a bantam border. Because of this, all throughout his presidential term Hayes was critiqued for the determinations he made. Other Info: Hayes ‘ most celebrated quotation mark is â€Å" He serves his party best who serves his state best. †James Garfield ( 1881 )Most important domestic achievement: Garfield did n't truly hold a domestic policy because merely a few months after his presidential term he was shot and killed. Most important foreign achievement: Garfield was unable to pattern a foreign policy as he was shot a few months after he was elected president. Economic Policy: Garfield did n't hold an economic policy. Most people are unable to do or pattern an economic policy when they are shot dead merely a few months after they are elected to the presidential term. Major Events: Major events include being elected into office in 1881, and being shot and killed in 1881. Major Obstacles: The biggest obstruction faced by James Garfield was that he was shot merely a few months after he came into office. That is a reasonably large obstruction if you ask me. Other Info: Garfield had the 2nd shortest presidential term, 2nd merely to William Henry Harrison.Chester A Arthur ( 1881-1885 )Most important domestic achievement: Arthur ‘s most of import domestic achievement was the passing of the Pendleton act. The Pendleton act placed federal employees on a virtue system and put an terminal to the long hated spoils system. The act was passed because of Garfield ‘s blackwash. The Act was passed into jurisprudence on January 16 1883. Most important foreign achievement: Arthur ‘s most important foreign achievements had to make with spread outing the US navy. Arthur realized that if the United States wanted to spread out, it would necessitate a strong naval forces. He was the first US president to alter the navy ships over from Fe to steel. Steel is lighter and stronger than Fe. Economic Policy: Arthur had a deadening economic policy, one that is non even deserving composing about. Major Events: Major events include the constitution of the steel naval forcess, and the passing of the Pendleton act. Major Obstacles: Arthur ‘s obstructions came from inside the authorities. When he passed civil service reform, he faced strong internal resistance because the spoils system helped specify authorities. Arthur believed in a strong, honorable authorities. Other Info: The universe ‘s first skyscraper was constructed in Chicago during Arthur ‘s presidential term.Grover Cleveland ( 1885-1889 )Most important domestic achievement: Cleveland ‘s most of import domestic achievement was his handling of labour brotherhoods. All throughout his presidential term, Cleveland had to cover with the ups and downs and temper swings of the labour brotherhoods. These fits ranged from little work stoppages to violent rebellions. Most of these labour brotherhoods had to cover with railwaies or other large companies that paid their people excessively small and overworked them. Most important foreign achievement: Cleveland ‘s most important foreign achievement was the Britain Venezuela boundary difference. Great Britain tried to conflict on Venezuela ‘s district for gold, and America threatened to ordain the Monroe philosophy. Britain tried to play tufa for a piece, but finally backed down. In the terminal a pact was written up, and neither side won or lost. The result was a Latin America that was happy with the United States and a universe that knew that the US was a force to be reckoned with. Economic Policy: The duty of 1883 lowered antecedently high duties. The duty raised up as a major issue between the Democrats and the republicans. Major Events: Major events include the Haymarket public violence, the interstate commercialism act, the terror of 1893, and the Pullman work stoppage. Major Obstacles: Cleveland ‘s biggest obstructions came from the labour brotherhoods. These brotherhoods ranged from mild strikers to downright violent rebellions that resulted in serious hurt or decease to all who participated. Other Info: Henry Ford made his first auto during Grover Cleveland ‘s presidential term.Benjamin Harrison ( 1889-1893 )Most important domestic achievement: Harrison ‘s most important domestic achievement was the passing of the Sherman anti-trust act. The Act passed without resistance since both parties made promises about ordaining trust ordinances. However, the act was really weak, and was written really mistily. Because of this, even though the trusts were attacked none were of all time to the full removed. Most important foreign achievement: Harrison ‘s disposal was really aggressive in foreign policy and enlargement. An illustration of this is the Samoan struggle where the United States imperialized its first district that far from its shores. Economic Policy: Harrison had an economic policy of high duties, trust busting, and silver reform. The thing Harrison is most celebrated for though is the busting of trusts, or trust busting. This was accomplished through the Sherman anti-trust act. The Sherman anti-trust act was weakly enforced though, so trusts ne'er to the full disappeared. Major Events: Major events include the Sherman anti-trust act, the Sherman Ag purchase act, and the McKinley duty. Major Obstacles: Harrison did n't truly confront any obstructions that could be described as major. Or minor. He did n't confront any obstructions at all truly. Other Info: A Nellie Bly set a record by going around the universe in 72 yearss.Grover Cleveland ( 1893-1897 )Most important domestic achievement: Cleveland ‘s most of import domestic achievement was his handling of labour brotherhoods. All throughout his presidential term, Cleveland had to cover with the ups and downs and temper swings of the labour brotherhoods. These fits ranged from little work stoppages to violent rebellions. Most of these labour brotherhoods had to cover with railwaies or other large companies that paid their people excessively small and overworked them. Most important foreign achievement: Cleveland ‘s most important foreign achievement was the Britain Venezuela boundary difference. Great Britain tried to conflict on Venezuela ‘s district for gold, and America threatened to ordain the Monroe philosophy. Britain tried to play tufa for a piece, but finally backed down. In the terminal a pact was written up, and neither side won or lost. The result was a Latin America that was happy with the United States and a universe that knew that the US was a force to be reckoned with. Economic Policy: The duty of 1883 lowered antecedently high duties. The duty came up as a major issue between the Democrats and the republicans. Major Events: Major events include the Haymarket public violence, the interstate commercialism act, the terror of 1893, and the Pullman work stoppage. Major Obstacles: Cleveland ‘s biggest obstructions came from the labour brotherhoods. These brotherhoods ranged from mild strikers to downright violent rebellions that resulted in serious hurt or decease to all who participated. Other Info: Cleveland is the lone president in history to hold two nonconsecutive footings.William McKinley ( 1897-1901 )Most important domestic achievement: McKinley ‘s most of import domestic achievement was the appropriation of Hawaii. The trade was that the United States would annex Hawaii and presume their $ 4 million on debt. Because of the appropriation of Hawaii, it would subsequently travel on to go a US State. Besides, without Hawaii, where would I travel on holiday? Most important foreign achievement: McKinley ‘s most important foreign achievement was the Spanish American war. The war was caused because Cuba wanted to contend off Spain ‘s subjugation. The existent ground for the war was xanthous news media, which made the state of affairs in Cuba seem worse than what it really was, and that is what caused the United States to travel to war. The thing that truly set off the war was the detonation of the USS Maine in Havana seaport. The xanthous journalists made it seem like the Cubans did this, when in fact it was an unknown detonation. Economic Policy: McKinley ‘s economic policy put the gilded criterion as the lone criterion. It was because of this that the whole Ag thought was forgotten. Besides, the Dingley act put in a duty of 16 % , the highest of all clip, and in some instances up to 57 % . Major Events: Major events include the Spanish American war, the pact of Paris, and the insular instances.Major Obstacles:Other Info: During McKinley ‘s presidential term Hawaii, Guam, Puerto Rico and the Philippines became American ownerships.DecisionDuring this clip period there were great presidents and awful presidents. The trade name new American democracy had to get by with immense challenges, and it was because of these leaders that we have progressed to where we are today.

Form in Art essays

Form in Art essays The object in question is marked as a Syrian, Bronze Age, stone label seal (c. 3rd- 2nd millennium). Most of the seals I have viewed have much more representational forms on them than this object has. I have not been able to find any books which have pictures of items with this name, which leads me to believe that it has been marked wrong. The object resembles a small, oval shaped bead with indentations in the centers of the longer sides, making it look like the number 8. Both sides have the same, simple decoration of carved lines;(if the object is viewed with the hole through its middle going up to down rather than left to right) two vertical lines in the center and four horizontal lines on either side of these. One side of the object is flat, but the other side is convex. After viewing many pictures of seals and cylinder seals, I find it unusual that this object should be marked as a seal because the design of its decoration is so simple. It seems more likely that this object is what one definition calls a token or a small, stone or clay bead worn on a string about the neck. Each token was a different size or shape and stood for different business transactions. An impression would be made in clay or wax signifying that the transaction took place.(1). These tokens were often only a shape that could be recognized as being different from other individuals token shapes, like a persons signature. The indentations and line decoration on the token make it resemble a pair of wings. The shape of the tokens flat side and rounded side are like a human chest cavity. This could be a combination of human (skeleton) and spirituality (wings). There are many depictions of winged gods and goddesses in ancient Near Eastern art. Though this object is highly utilitarian and has little representational decoration, it seems likely that there would be a connection between its wing-like shape and the frequency of wings i...

The eNotes Blog Blinded by Science

Blinded by Science How Math and Science intern overcame his trouble with the sciences and learned to love his Biochemistry major. Science: the subject that many find so difficult to understand (and so boring to even attempt to understand) that they just dread learning about it, dread having to sit in class and listen to the teacher ramble on about atoms and cells and forces of nature. In high school, I used to be the type of student who wanted to ditch my chemistry and biology class. Seriously, who wants to hang around periodic tables and posters of cellular structures all day, and then have to study so hard just to learn on the test that you understood almost nothing? However, when I started college and began studying for my biochemistry degree (being Asian, I was heavily influenced to become a doctor), I began to realize why so many of us perform poorly in and, for some, even fear science. A 3rd year into my studies now, let me share with you my experience of overcoming the negative attitude and eventually growing to love this subject. â€Å"Why do I need to learn this? When am I ever going to use this information in my lifetime?† These are questions that we’ve all asked at some point in our scientific studies. In fact, the professor of my public speaking course raised this question just 2 days ago, referring to the sciences. This is one of the many reasons that science classes may seem so difficult and scary. It seems so arbitrary and foreign to us, like learning a whole new language that we will never use, and school fails in making it seem less frightening, in making it more familiar. Instead, we are driven away by how test-oriented the material is and the amount of memorization that is required. My love for the sciences began in my first physics and chemistry courses. We were learning about exothermic (release of heat) chemical reactions and kinetic energy. Sure, I understand that when favorable chemical reactions naturally occur spontaneously go towards products and release energy as heat, but what does this mean and why do I care? Out of frustration in how poorly I was doing in the class, I decided to approach learning science through another method. I began to explore where these concepts occur in my everyday world and that’s when I stumbled across explosions. Those beautiful explosions seen in fireworks and those awesomely crazy explosions seen in action movies can all be fundamentally explained by the basic concept of exothermic reactions. All that force, heat/light, and fire that we see as a result of an explosion is all due to a chemical reaction that releases a lot of heat, causing the rapid expansion of air molecules. How cool is that?! All that insanity due simply to a sudden, quick expansion of air molecules that help transfer heat! I’d never thought something so simple can be responsible for what we see in fireworks and explosions. This is when I realized that I can make science a lot easier and a lot more interesting to understand. Over the last few years, I stumbled across more interesting applications of the concepts I was learning in class. In quantum mechanics, I learned that teleportation is possible and that scientists have already teleported incredibly small particles from one island to another (shout out to all those Star Trek fans who fantasize about traveling from one place to another in a matter of seconds). In physics and chemistry, I discovered the most efficient way to drive a car, meaning I can now consistently get above 40 miles per gallon in my 1996 Honda Civic, which is incredible considering that a lot of fuel efficient cars these days average about only 32 miles per gallon. The main point I’m trying to get at is learn how the science can be applied and try to relate it to a phenomenon that you find fascinating, especially if you are someone who is currently struggling in your science courses as I did (my GPA actually dropped below a 3.0 when I started college). Explore the internet and answer that question your little voice keeps asking in your head, â€Å"When am I ever going to use this?† It’s what led me to finding better and easier ways to perform simple tasks, such as driving, cooking, and fixing broken appliances. Although it may be true that science comes more naturally for those who are left brain dominant, all you need to do is be creative and find some way to connect that scientific concept to something that really interests you, and you don’t need to be an Einstein to make that happen. In fact, that’s how most of us learn in other subjects, but science just seems so foreign at first that it’s hard to take that first, eye-opening step. Once you take that step, though, you’ll begin to realize all beautiful ideas and revolutionary technology arise from surprisingly simple concepts with a bit of imagination and experimentation. It’s what allows for the possibility of teleportation, the possibility of substituting electricity with quantum particles to make computing millions of times faster, the possibility of finding cures for life-threatening diseases, and the possibility of traveling through space and time. That’s pretty awesome if you ask me. So, as Jesse Pinkman expresses it in Breaking Bad, â€Å"Yeah, science!†

Communication In Economics Essay Example | Topics and Well Written Essays - 1000 words

Communication In Economics - Essay Example It is a complete guidance in social, political, economical and other aspects for the Muslims. The Koran gives a clear direction in dealing with common issues from warfare, governance of states, marriages, doing business etc. Islam focuses on doing any act in accordance with equality and justice. The Islam has prohibited some of the issues, which are considered to be today's key of success. One such concept is the prohibition of Interest. But Islam gives the complete rational reasoning for it's the things, which are included and excluded by Islam. In today world, one of the main reasons for the businesses running successful in western world is because of mortgage and interest, however, Islam strictly rejects the concept of Interest in Islam. There are number of verses of Koran in which Interest has being strictly condemned. Interest in Arabic language is called 'Riba'. Interest is some amount of money received or has to pay for in order of lending and borrowing of assets. Islam has termed Riba as prohibited because a person is paying additional charges to which he not accounted to, and similarly earning extra money which he has earned without making an effort. Such type of earning is called earning easy money. For instance, a person has invests $100,000 as his savings in a bank at an annual interest rate of 5%. After one year, his savings will be $ 105,000. This additional $5000 amount is the easy earning that he has got, Islam calls these as Haram (prohibited) according to Islamic laws called Sharia'a. Islamic Banking: Now in Islamic states, in order to curb interest, many Islamic banks introduced Islamic finance, which does working according to Sharia'a. This type of banking started in 1970's. The Islamic banks works risk sharing system, in which the banks and the customers share profits under agreements. The people have the option of whether making an Islamic account or not. These banks have introduced La-Riba system (interest free) finance. When a person is making a saving account in a bank, he has two options. Either makes an account on zero interest or charge interest on it. In case of zero interest, he will receive the same amount that he deposited i.e. if he has invested $100000, he will receive $100000 on his withdrawal. Where as in the second case, where he can ask for the interest, he has two alternate. Either he can ask the bank to deducted Zakat (Islamic charity system) or can take additional interest amount with him, and donate into welfare or charity himself. In this way, he is not us ing additional money for his personal use. Similarly, there are banks that offer loan on zero interest i.e. if a person wants loan, he can pay it off without giving additional charges. For instance, if a person wants loan for construction of his house, he asks for a loan of $500000, then he only has to pay this amount in installments. However, it is suggested that it is better to invest your capital in project rather than banks. Because when you invest in a project, there you would be dealing with risks not with the Interest. New Products Offered by Islamic Finance: Since the arrival of these Islamic banks, there are some special Islamic products, which are being bought into the market. These products designed in accordance with Sharia'a laws. These products include Ijara, Murabahah, Musharakah, Mudarabah, sukuk etc. The basics of these products are discussed below Ijara is a type of Islamic leasing.

The nature and extent of environmental health concerns surrounding the Essay

The nature and extent of environmental health concerns surrounding the use of sludge and biosolids from wastewater treatment in agriculture - Essay Example (Perlman 2009; U.S. Department of Labour 2007; Willis 2001) This can be done by purifying the wastewater in order to remove and destroy harmful materials such as chemical compounds, microorganisms, debris, and other solid materials. (U.S. Department of Labour 2007) To provide the readers with a better understanding concerning the research topic, the process of conventional wastewater treatment will first be tackled in details. Upon discussing the importance of primary, secondary, and tertiary treatment process in purifying the wastewater, the researcher will discuss the environmental and health concerns of using sludge or sewage biosolids that comes from the wastewater treatment plant for food agricultural activities. To avoid the increase of developing life threatening diseases such as cholera and cancer among others, the researcher will thoroughly discuss the importance of making the use of sludge and biosolids found wastewater illegal for agricultural purposes. Upon weighing the advantages and disadvantages of using biosolids as fertilizer in agricultural activities, the research findings of Goodman and Goodman (2006) revealed that the negative impact of using biosolids as fertilizer is approximately three times more than the positive impact of recycling biosolids. Despite the environmental and health threats of using sewage products, a lot companies that manufacture fertilizers are using sludge or sewage biosolids as one of the major components of fertilizers used in food agriculture. (Lewis, Booth and Hill 2004; Richards, et al. 2004) Concerning the harmful health effects of using biosolids as fertilizer in agriculture, the purpose of this research study is to educate the people around the world and to persuade the farmers to avoid using fertilizers that uses sludge or biosolids coming from the wastewater treatment for agricultural purposes. Concerning the use of