Introduction to Financial Management free essay sample

MGT201 (Financial Management) MGT201 Lecture No. 01 Introduction to Financial Management Learning objectives: The purpose of this lecture is to provide you with an overview of financial management. After finishing this lecture, you would be able to have a better understanding of the following. Definition of financial management Significance of financial management for non-finance students and professionals Important concepts and areas in financial management The position of financial managers in organizational hierarchy and their respective work domains. Different business legal entities, their advantages and limitations. The external and internal business environments and their relevance to financial management. Different types of financial and real assets markets. What is FM? FM is the management of financial resources – how to best find and use investments and financing opportunities in an ever-changing and increasingly complex environment. Why should CS majors study FM? First of all, financial management is a core life skill; almost every one needs to understand some concepts of finance to manage his/her business personal finances. We will write a custom essay sample on Introduction to Financial Management or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is generally and quite rightfully said, â€Å"Money makes the world go round†. Finance is like a life-blood for a company. Even the best of the companies and CEOs go out of the business because of poor financial management policies. Management Information Systems (MIS) and Information Technology (IT) are just a part of the overall corporate strategy which runs on finances, the major resource. So the computer sciences professionals need to have an understanding of the financial concepts to understand and contribute to the overall corporate strategy. Financial Engineering is an upcoming field that requires people with CS, math/science, and finance background. Financial engineering is the application of engineering methods to finance. One important area of study is the design, analysis, and construction of financial contracts to meet the needs of enterprises. This field is experiencing an increased demand for professionals, especially those who are trained in both the underlying mathematics/computer technologies and finance. Page 1  © Copyright Virtual University of Pakistan MGT201 (Financial Management) Definitions Finance: Finance is the science of managing financial resources in an optimal pattern i. e. the best use of available financial sources. Finance consists of three interrelated areas: 1) Money Capital markets, which deals with securities markets financial institutions. 2) Investments, which focuses on the decisions of both individual and institutional investors as they choose assets for their investment portfolios. 3) Financial Management, or business finance which involves the actual management of firms. Major Areas Concepts of Financial Management Following are some of the important areas and concepts of financial management, which would be discussed in detail in the lectures to come. Analysis of Financial Statements: Analysis of financial statement is one of the most common techniques of financial analysis, in which the financial performance and financial health of a company are analyzed based on its past performance. The following financial statements are used in the analysis process. †¢ Profit Loss Statement or Income Statement Income statement reflects the operating efficiency or profitability of a company as a result of its operations along with the net profit available to the shareholders for a given year (usually one accounting period). This statement provides the analyst with some insight into the financial performance of the company. Balance Sheet Balance Sheet is a snap-shot of an organization’s financial health at a particular time. It shows what assets are owned by the business and the sources of acquiring these assets. Statement of Shareholders’ equity Statement of shareholders’ equity provides the share of the owners in the business. Statement of Cash Flows Statement of cash flows explicitly reflects the cash movement (inflows and outflows) during the operations in an accounting period. o o o Taken together, these statements give an accounting picture of the firm’s operations and financial position. Financial statements report what has actually happened to the assets, earnings, and dividends over the years. The analysis of the information contained in these statements help management of the organization to Page 2  © Copyright Virtual University of Pakistan MGT201 (Financial Management) evaluate the performance and activities of the concern; it also helps the investors and creditors to have an idea of the profitability potential and creditworthiness of the business. Investment Decisions Capital Budgeting: Investment decisions are the most critical as they usually involve huge sums of money and these decisions are likely to bring prosperity or doom to a business. A company’s future income depends on how much investment is made, in what type of assets, and how these assets add to the overall value of the company. Capital budgeting is a term strictly related to investment in fixed assets; here, the term capital refers to the fixed assets that are used in production, while budget is a plan which details projected cash inflows and outflows over some future period. The following concepts and techniques are employed while analyzing investment decisions. o Interest rate formulas o Time Value of Money o Discounted Cash Flows o Net Present Value o Internal Rate of Return Risk Return: Investors, individual or institutional, invest their money with the expectations of earning a return on their investment. While investors wish and attempt to earn maximum return, they are constrained by risk. How the risks and returns are related and how do investors make a choice of their portfolios is important for investment decision making. Following concepts and theories would be discussed while discussing the risk-return choices of the investor: o o o o Uncertainty Risk Portfolio Theory Capital Asset Pricing Model Corporate Financing Capital Structure: When a firm plans to expand, it needs capital or funds. Acquisition of funds is considered to be a primary responsibility of a finance department in an organization. There are numerous ways to acquire funds, i. e. , finances can be raised in the form of debt or equity. The proportion of debt and equity constitutes the capital structure of the firm. Financial experts attempt to find a combination of debt and equity that could increase the overall value of the company, i. e. , they try to find the optimal capital structure. The following concepts would be used to understand how an optimal capital structure could be attained. Cost of Capital Leverage Dividend Policy Page 3  © Copyright Virtual University of Pakistan o o o MGT201 (Financial Management) o Debt Instruments Valuation: Asset or company valuation is important not only for financial managers, but also for creditors and investors. It is important to know the value of the company or its assets to make important financing and investment choices. Different valuation techniques and factors that influence the value of a company or its financial instruments would be discussed in this section. o o o o Share Bond Option Corporate Working Capital Inventory Management: Working capital and inventory management pertains to the effective management of current assets. As we will see, an optimal and effective utilization of working capital and inventory increases the operating efficiency of the firm. International Finance Foreign Exchange: With the increasing importance of international trade and global markets, the role of international finance has increased manifold. In a global environment, the finance managers have more choices pertaining to investing and financing than ever before. However, it is important to understand the implications of working in a global environment, since fluctuations in the currency rates can convert a good financing or investment decision into a bad one. This section of the course would discuss the international financial environment and the financial implications of working in a global environment. Organizational Structure (Who does the FM work? ) Chief Executive Officer (CEO) Chief Financial Officer (CFO) Treasurer Controller Cash Investment Accounts Capital Budgeting Audit Capital Structure Inventory Page 4  © Copyright Virtual University of Pakistan MGT201 (Financial Management) Business Legal Entities †¢ Sole Proprietorship : It is an unincorporated business owned by one individual. Going into a business as a sole proprietor is simple – one merely has to begin business operations. Proprietorship consists of 80%of the total number of businesses worldwide. Advantages: i. ii. iii. It is easily inexpensively formed. It is subject to few government regulations. The business pays no corporate income tax; only personal income tax is paid by the proprietor. Limitations: i. ii. It is difficult for a proprietorship to obtain large sums of capital. The proprietor has unlimited personal liability for the business debts, which can result in losses hat exceed the money invested by him in the business. The life of the business organized as proprietorship is limited to the life of the individual who created it. iii. Partnership: A partnership exists whenever two or more persons associate to conduct a noncorporate business. It could be registered or unregistered. Advantages: i. ii. Limitations: i. ii. iii. iv. Unlimited Liability. Limited life of the organization. Difficulty of transferring ownership. Difficulty of raising large amounts of capital. Low cost involved Ease of formation. Corporation: A corporation is a limited company and a separate legal entity registered by the government. It is separate distinct from its owners managers. It Can be Private Limited Page 5  © Copyright Virtual University of Pakistan MGT201 (Financial Management) (Pvt. Ltd. ) or Public Limited (which may be listed on Stock Exchange). The businesses in the form of corporations control 80% of global sales of products and services. Advantages: i- Unlimited life: A corporation can continue even after the death of its original owners. ii- Easy transferability of ownership interest: Ownership interests can be divided into shares of stock, which in turn can be transferred far more easily than can proprietorship partnership interests. ii- Limited Liability: The liability of the shareholders is limited up to the extent of nominal value of shares held by them. Creditors and banks cannot confiscate personal properties of director shareholders in case of its bankruptcy. Limitations: Double Taxation: Corporate earnings may be subject to double taxation – the earnings of the corporation are taxed at corporate level, and then any earnings paid out as dividends are ta xed again as income to the stockholders. ii. Legal Formalities: Setting up a corporation, and filing many official documents, is more complex and time consuming than for a proprietor ship or a partnership Hybrids (Mixed): Hybrid organizations are specialized types of partnerships, which combine the limited liability advantage of a corporation with the tax advantages of a partnership. S-Type Corporation: S- Type corporations are Limited Liability Corporations without double taxation. In a regular corporation, the company itself is taxed on business profits. In addition, the owners pay individual income tax on money that they draw from the corporation as salaries, bonuses, or dividends. In contrast, in an S corporation, all business profits pass through to the owners, who report them on their personal tax returns (as in sole proprietorships, partnerships, and Limited Liability Companies). The S corporation itself does not pay any income tax, although a co-owned S corporation must file an informational tax return like a partnership or Limited Liability Companies – to tell the tax authorities what each shareholders portion of the corporate income is. i. Page 6  © Copyright Virtual University of Pakistan MGT201 (Financial Management) LLP: Limited Liability Partnership (LLP) is also a form of partnership with allows limited liability to the owners and avoids double taxation. These organizations are similar in many ways to the S Corporations; however, LLPs offer more flexibility and benefits to the owners. PC: Personal Corporations ( PC) or Professional Corporations are generally formed by professionals to protect them against litigations. Professionals like doctors, lawyers and accountants prefer to register their business as Professional Corporations. Balance Sheet – An FM Perspective Page 7  © Copyright Virtual University of Pakistan MGT201 (Financial Management) Internal and External Business Environment Internal Business Environment: Internal environment of business normally consists of the following. i. Finance ii. Marketing iii. Human Resources iv. Operations (Production, Manufacturing) v. Technology vi. Other Functions (Logistics, Communications) External Business Environment: The following business environment factors outside an organization have a profound effect on the functions and operations of an organization. . ii. iii. iv. v. vi. Customers Suppliers Competitors Government/Legal Agencies Regulations Macro Economy/Markets: Technological Revolution Page 8  © Copyright Virtual University of Pakistan MGT201 (Financial Management) An analysis which is used in a business is called SWOT Analysis. SWOT is an acronym where S stands for Strengths W stands for Weaknesses O stands for Opportunities T stands for Threat s Strengths and weaknesses are within an organization, i. e. , they pertain to the internal environment of the organization. Opportunities and threats, on the other hand, pertain to the external environment, i. e. , outside the organization. Financial Markets †¢ Capital Markets: These are the markets for the long term debt corporate stocks. Stock Exchange: A stock exchange is a place where the listed shares, Term finance certificates (TFC) and national investment trust units (NIT) are exchanged and traded between buyers and sellers. Long term bonds: Long term government corporate bonds are also traded in capital markets. Money Markets Money market generally is a market where there is buying and selling of short term liquid debt instruments. (Short term means one year or less). Liquid means something which is easily encashable; an instrument that can be easily exchanged for cash. Following financial instruments are traded in money markets. Short term Bonds o Government of Pakistan: Federal Investment Bonds (FIB), Treasury-Bills (T-Bills) o Private Sector: Corporate Bonds, Debentures Call Money, Inter -bank short-term and overnight lending borrowing Loans, Leases, Insurance policies, Certificate of Deposits (CD’s) Badlah (money lending against shares), Road-side money lenders Page 9  © Copyright Virtual University of Pakistan MGT201 (Financial Management) †¢ Real Assets or Physical Asset Markets Following are the active markets of real and physical assets in Pakistan o o o Cotton Exchange, Gold Market, Kapra Market Property (land, house, apartment, warehouse) Computer hardware, Used Cars, Wheat, Sugar, Vegetables, etc. Page 10  © Copyright Virtual University of Pakistan

All About the French Verb Falloir

All About the French Verb Falloir Falloir is an irregular impersonal French verb that is better known in its conjugated form: il faut. Falloir means to be necessary or to need. It is impersonal, meaning that it has only one grammatical person: the third person singular. It may be followed by the subjunctive, an infinitive, or a noun. Examples of Falloir   Ã‚  Ã‚  Il faut partirIts necessary to leaveIl faut que nous partionsWe have to leaveIl faut de largent pour faire à §aIts necessary to have / You need money to do thatWhen falloir is followed by an infinitive or noun, it may be used with an indirect object pronoun to indicate who or what needs whatever comes next:Il faut mangerIts necessary to eatIl nous faut mangerWe have to eatIl faut une voitureIts necessary to have a carIl me faut une voitureI need a car Expressions with Falloir Falloir is used in a number of expressions, including:ce quil faut - what is neededIl a bien fallu  ! - I/We/They had to!sil le faut - if (its) necessaryFaudrait voir voir (informal) - Come on! Come off it!Il faut ce quil faut (informal) - Youve got to do things right S'en falloir The impersonal pronominal construction sen falloir means to be missing or short of something, as in this action did not occur because something was missing:Tu as ratà © son appel, il sen est fallu de 10 minutesYou missed his call by 10 minutesJe nai pas perdu, mais il sen est fallu de peuI very nearly lost (I didnt lose, but it was close) Conjugations Here are the most common tenses of falloir.   Ã‚  Ã‚  Present tense  Ã‚  Ã‚  il fautImperfect  Ã‚  Ã‚  il fallaitFuture  Ã‚  Ã‚  il faudra

Primary theories of leadership and examples Research Paper

Primary theories of leadership and examples - Research Paper Example A probe into the lives of Jacqueline Kennedy, Martha Stewart, Opera Winfrey, Hillary Rodham Clinton and George Bush show that these leaders revealed traits of charismatic, authoritarian, inspirational, transformational, and situational leadership styles respectively. Primary theories of leadership and examples Leadership theories are based on how leaders lead their followers. Some of the primary theories of leadership styles are charismatic, authoritarian, inspirational, transformational, and situational. The basic characteristics that differentiate each of these leadership styles are: the nature of the relationship between the leader and followers; the personality of the leader; the vision and nature of the leader’s interaction with the followers or employees; the nature of the rewards, positive reinforcements and tasks administered; and, the achievement of the goals or tasks. This paper analyses the major characteristics of charismatic, authoritarian, inspirational, transfor mational, and situational leadership styles with special reference to such leaders as Jacqueline Kennedy, Martha Stewart, Opera Winfrey, Hillary Rodham Clinton and George Bush. ... Charismatic leaders also have the ability for taking personal risks and exhibiting non-traditional behavior. According to Burke and Cooper (2004, p. 86), charismatic leaders arouse enthusiasm and commitment among their followers by articulating a compelling vision, increasing follower confidence about achieving it, and linking the task or mission to the values, ideals, and self-concept of the followers. Both John F Kennedy and his wife Jacqueline Kennedy had charismatic personalities that could attract the American society. Jacqueline’s charisma helped Kennedy not only during his presidential campaign but also in his political life in the White house. Her demeanor and influencing charismatic style saw her as the most warmly received public figure during official trips abroad. It was her charismatic leadership style that immortalized the Kennedy Library Foundation after her husband was assassinated. Authoritarian leadership and Martha Stewart In authoritarian leadership style t he leader acts like an autocrat, allowing little or no participation from his team members or followers. Even though the leadership style is not popular today it has been identified as quite effective during emergencies when quick decisions are to be taken. As pointed out by Cherry (2012, para. 1) authoritarian leadership style is â€Å"characterized by individual control over all decisions and little input from group members.† As such these leaders do not involve their followers in the decision making process. The success of Martha Stewart, the celebrated American business magnate and author, is strongly rooted in her authoritarian leadership style. She started with a small catering business

Charitable Organizations Essay Example | Topics and Well Written Essays - 1750 words

Charitable Organizations - Essay Example They just have to manage funds. Lastly, the intangible benefits are immense when it comes to serving in a charitable organization. As for the disadvantages, employee retention and recruitment is a matter of concern as the salary is low and commitment needed is high. Lastly, when charities are newly established, fund raising is a major issue as people doubt their credibility. Charitable organizations are those companies who are working for the sole purpose of doing something good for the society. The organization has charity-oriented factors as its aims and objectives as opposed to a normal company, whose major aim is to maximize its profits. There can be many types of charitable organizations, namely trusts, foundations and associates which are working as unincorporated (Petit-Zaman, 2006). A company might start off with charitable purposes or might become a charitable organization after some time passes after its establishment. There is a difference between a charitable organization and not-for-profit organizations. Charitable organizations are a subset of not-for-profit organizations. Not-for-profit organizations are those which are incorporated as an organization. They have a separate legal entity. They are neither working for purely charitable purposes nor for profit maximization. ... It is actually the responsibility of the state to fulfill these traditional duties, to work for the welfare of the citizens of the state. But often the state is ignorant of these duties and that is when these charitable organizations step in and do some good work. CHARITIES IN UNITED KINGDOM The United Kingdom has a total number of 200,000 charitable organizations (UK Tax). This is a huge quantity and the graph is rising as the sector of charity is rapidly growing and accelerating. Many of these charities are established as limited liability companies so that the owners, i.e. the trustees, are not liable to pay more than their share of investment in the company and so that this factor results in the establishment of more charitable organizations. Charitable organizations are finding new ways to cater to the humanity. The various charitable organizations are basically registered with three regulatory bodies, namely the Charity Commission, the Office of the Scottish Charity Regulator and the Inland Revenue. These regulatory bodies are essential to supervise and take care of the activities that these charitable organizations are indulging in. these bodies make sure that these charities do not misuse the money that they collect from the general public for charitable purposes . These charities also have to report its activities to the government. This makes the government fully aware of whether these organizations are fulfilling their purposes or not, as their collections are tax free. This reporting aims to see whether any fraud is being done by an organization opened by the name of charity but eating up money for personal purposes. If a fraud is detected, the license of the

Current Events Journal Article Example | Topics and Well Written Essays - 500 words

Current Events Journal - Article Example The government claims that it needs this program to fight terrorism. The American Civil Liberties Union (ACLU), representing those who have regular overseas dealings, took its case to District Court last March where it won its argument, but because of the stay requested by the government, surveillance is continued until the appeals process is complete. The government will submit its arguments to the court by October 13. The ACLU has a month to respond with a ruling expected to be rendered by the end of the year. Whichever side loses the appeal will likely appeal further to the Supreme Court. The ACLU contends that for the government to authorize the unwarranted surveillance of its citizens violates the Fourth Amendment to the Constitution which prohibits the use of general warrants and requires that probable cause be apparent. The National Security Agency (NSA) has had its surveillance program in place for five years in its global fight on terrorism but has not obtained the proper court-ordered warrants required by law in these monitoring activities. Judge Taylor ruled last August that this violates the civil rights of the Americans affected because the government is not presenting its justifications for its surveillance activities in court. Taylor had ruled that the NSA must stop this program but the 6th Circuit Court of Appeals allowed the stay of that ruling as requested by the government. The Bush administration continues to insist that the ‘Terrorist Surveillance Program’ is a necessary tool which ultimately protects American citizens. This program has been in existence since the September 11 attacks yet the public has only recently learned of it. There are concerns that civil liberties, which are supposed to be protected by the Constitution, are being eroded by a government that is overstepping its powers by wiretapping Americans without benefit of a court-ordered

Thematic Analysis Of Faerie Queene Literature Essay

Thematic Analysis Of Faerie Queene Literature Essay The earthly human society continues to be faced by various impediments to its existence and continuity. Some of these varied issues include; the reality a bout truth and faith, the unending evils, the confusion of love and the persistence search for purity. It is because of these squabbles that Edmunds Spencers Faerie Queene was written. The book focuses largely on the central theme of holiness and how it can be achieved in the society. Holiness would mean being pure, clean and godly. However it can not exist without evil. According to Wauchope, holiness could be compared to light and evil compared to darkness. Holiness therefore the main drive and urge for any person who wishes to attain the highest faculties in life, truth, faith and love. The work of any writer cannot be clear and complete unless various characters are employed in order to bring out the intended message. As such Spencer has notable characters that have different purpose. Book 1, Cont I, introduces Redcrosse who is the Knight of Holiness that works collaboratively with Una, a beautiful lady who is out to represent truth and faith of a true Christian. It is matter to be noted that for any person who aims to be a true Christian full of holiness, he must have true faith. The religious battles that exist in the world today can be traced back to the christsera. Most of our time is faced by lack of virtue of holiness, persistent evil that threatens the human race specifically occurring as a result of superiority struggles among the major religions of the time. The world known religion catholic is being condemned for not presenting truth to its followers and uses various images that are meant to deceive. The strength of Knight and the lady Una is as a result of boldness, courage and sheer determination to achieve victory by fervently fighting evil and false religion (Faerie Queene II,147-48) . The Roman Empire worked continuously hard to ensure that the whole world remains bound by one religion but however, because of increased awareness and freedom, the England people led a determined rebellion and broke away from Roman Catholic to form a true religion of Protestants and Anglicans. This fierce break-up aggravated evil in the society, where most people were killed for defending their faith. Most Martyrs like Stephen were forced to die because of trying light to bring to the world. The true position for any Christian should be to aim at fighting for righteousness and work towards ensuring that evil does ensue too soon. Every society that tries to advance in holiness still has to face the hurdles of vice. The two elements are parts of the same coin that operate at the extreme ends. Hamilton highlights in his book, that evil will take the slightest opportunity to engulf holiness. Una who is representing truth happens to meet Duessa, who on contrary represents false images that are used to deceive and confuse the faith of Una. She is torn between the devil and deep sea losing when she encounters Duessa.That being a strong religion, Catholic Church still focuses on use of images which carry false meaning. These images could be source of idolatry, which caused the rebellion of the Protestants. Indeed any individual with divine faith and holiness cannot accept to throw away his noble pursuit because victory does not come easily. Fighting evil in the society requires one to stay on course even when it seems tough. This would require surrounding yourself with life performers who have achieved the highest ladder in the fields of faith, character and honour. When Knight Meets Una, a strong bond is developed that help them to remain focused in their mission to achieve holiness and eradicate evil. Therefore when cooperation exists among the members of the society, then notable vices like rape, idolatry and innocent killings cannot continue to escalate further. This is not an individual effort but an integral one which requires positive mindset that Redcrosse is urged to have. Resolved in minde all suddenly to win (Faerie Queene, I.210). Human beings still remain to be the weakest creature that is easily lured into evil. Many a time most people have found themselves on the crossroads, more on the wrong side than on the right side of it, because they were tempted by other people; who because of weaker power for self defence of individual values and virtues had to give into it. Wauchope infer a case where Archimago tries to separate Redcrosse from Una through lust and deception, which he falls into. Once separated he becomes extremely weak making it easy for Duessa to deceive him even more. It is good to note that whenever truth is separated from holiness, confusion ensue as people are lost in faith. Thus in our present times it is essential that we keep good companies and associations that can help us grow in faith ,develop the power to defend our believes, not being easily led astray from truth and fall into the paths of evil by the already fallen. This will help enrich the soul, mind and body which in turn will help to perpetuate holiness in all kind and spheres of life. Evil in our society can only be eliminated only and only if we take collective initiative to set rules that will help lighten our lives than darkening it. Only when truth is adhered to that we can forge a way out to develop standards of morals that every member is expected to follow. There is a great overall evil that threatens mankind, the very basic evil of sin. This is the dragon that Redcrosse defeats at the end of Book 1 of Faerie Queene. This enemy can be dealt with, through reformation in various social institutions like marriage, learning institutions, governing bodies and churches. The Norton Anthology also focuses on best reason as to why we should reform our social, economic and political systems so as to have an all round society. If we restructure our religion, faith and love we will have a true meaning of holiness. Holiness is not complete without love. True love does not lie in being beautiful or gorgeous, but it thrives where there is truth and light in faith. Most young men tend to associate beauty with love, but in really sense, it is not an indicative virtue of love. Courtly love dictates that the excitement and splendour constantly travel with valiant warriors who croon romantic declarations of passions to women and eventually accumulate great respect through epic triumphs in the battles over many years. The Redcrosse knight bridges the gap between mere men and these gallant celebrities and reverses the process of virtue. The virtues of love entail being sincere in heartily devotions and commitment to one another, not in reputation but in character and true integrity. This is the ingredient of love. Jennipher Sinclair, points out that being in love does not necessarily mean sexual and emotional feelings but involves learning how best we should live a virtuous life full of respect, purity and holiness. Respect will involve observing the code of humanity of preserving life and not forming stereotypes that are prejudicial and discriminative in nature. These acts are highly shown by persistent struggle that exist between the Roman Catholics and the Anglican Protestants. When human beings begin to use religion as an instrument to hate rather than love each other, then no major developments can be realised specifically in the areas of holiness. As Nelson Mandela points out that, No one is born hating the other and if a person can learn to hate, then he can be taught to love. Love is the union of all earthly races because all human beings have blood that is red symbolising that we are all equal. The Faerie Queene was intended to teach the young men and women to focus on building a society that is clean and pure in its operations. Being the weakest and most lured into temptations of every soot, they ought to observe good codes of conduct. Young men should posse spotless character and should rise to highest circles of leadership and command. We are also a forewarned about love and appearance because love is not in the beauty, as such, believing in the beauty would deceive and the originality of true love. Only truth and faith can indicate real virtue and meaning of love and struggle hate.Consequentlty we are also encouraged to remain firm in our believes and of life, because modern expectation cannot always be met and fulfilled, and respect through trials other than physical tests, in the long run, holiness prevail over evil and light blinds the dark.

How To Die Essay -- Psychology

Death has always been part of human culture. It’s viewed in all kinds of manners, ranging from the worst enemy to a welcome liberator. In today’s society, death and the culture of death expand ever so quickly as people live longer on more advanced medicine, and thus die older and weaker. Of course, eventually everyone will face the prospect of taking their last breaths. Therefore it becomes necessary to give serious thought about how we choose to die in an intensifying plethora of options. Some believe in fighting until the disease wins with the best technology and best treatments without regard to cost. Others believe that after a certain age, or certain period of â€Å"extreme treatments†, the ill should accept their fate and die with â€Å"dignity†, off the machines and any radical treatments. Few physicians recommend the second option, because they are expected to do everything humanely possible to keep patients alive. With a range of increasing medic al technology, it’s only become easier to do so. However, the effectiveness and relative comfort of these new remedies are another question entirely. Renouncing the desperate fighting philosophy, the hospice institution takes the issue of dying in a different perspective. Hospice supports a submissive approach to dying, allowing the patient to experience a natural, dignified death without painful or bizarre treatments. Many times, spiritual and emotional counseling to the patient and his or her family is also offered. How to end a normal life seems to rest on how much people want to defy death. The point of disconnect occurs when people have to decide which is nobler: a courageous fight, or a graceful acceptance. We generally want to live as long as we possibly can, but can the way we end ... ...is-the-quality-of-life-it-gives-the-patient.html>. "Right-to-die Statement: Tony Nicklinson Says Stroke Left 'no Dignity or Privacy'" The Guardian. Ed. Press Association. Guardian News and Media, 12 Mar. 2012. Web. 02 Apr. 2012. . Siamak, MD, Nabili T. "MedicineNet.com." MedicineNet. Ed. Melissa C. Stà ¶ppler, MD. MedicineNet, Inc. Web. 02 Apr. 2012. . Steven, Reinberg. "Medicare Costs for Cancer Treatment Soar." US News. U.S.News & World Report, 10 June 2008. Web. 02 Apr. 2012. . Williams, Mary E. "Hospice Care Benefits The Terminally Ill." Terminal Illness: Opposing Viewpoints. San Diego, CA: Greenhaven, 2001. 17-26. Print.

Great Escape

Having wasted enormous resources on recapturing Allied prisoners of war (POWs), the Germans move the most determined to a new, high-security prisoner of war camp. The commandant, Luftwaffe Colonel von Luger, tells the senior British officer, Group Capt Ramsey, â€Å"There will be no escapes from this camp. † Ramsey replies that it is their duty to try to escape. After several failed escape attempts on the first day, the POWs settle into the prison camp. Gestapo and SS agents bring Squadron Leader Roger Bartlett (RAF) to the camp and deliver him to von Luger. Known as â€Å"Big X,† Bartlett is the principal organizer of escapes and Gestapo agent Kuhn orders that he be kept under the most restrictive permanent security confinement, which Col. von Luger, disgusted by the Nazis and the SS, only makes a â€Å"note† of, treating the command with complete contempt. As Kuhn leaves, he warns Bartlett that if he escapes again, he will be shot. Bartlett is then placed with the rest of the POWs, rather than the restrictive holding that Gestapo agent Kuhn had demanded. Locked up with â€Å"every escape artist in Germany†, Bartlett immediately plans the greatest escape attempted—tunnels for breaking out 250 prisoners. The intent is to â€Å"confuse, confound and harass the enemy† to the point that as many troops and resources as possible will be wasted on finding POWs instead of being used on the front line. Teams are organized to tunnel, make civilian clothing, forge documents, procure contraband materials, and prevent guards from discovering their work. Flight Lieutenant Hendley, an American in the RAF, is â€Å"the scrounger† who finds what the others need, from a camera to clothes and identity cards. Australian Flying Officer Louis Sedgwick, â€Å"the manufacturer,† makes tools such as picks for digging and bellows for pumping air into the tunnels. Flight Lieutenant Danny Velinski and William â€Å"Willie† Dickes are â€Å"the tunnel kings† in charge of making the tunnels. Eric Ashley-Pitt of the Royal Navy devises a method of hiding bags in the prisoners' trousers and spread dirt from the tunnels over the camp, under the guards' noses. Forgery is handled by Flight Lieutenant Colin Blythe, who becomes nearly blind from intricate work by candlelight. Hendley takes it upon himself to be Blythe's guide in the escape. The prisoners work on three tunnels simultaneously, â€Å"Tom,† â€Å"Dick† and â€Å"Harry. Work on Harry and Dick is stopped so that more work can be performed on Tom. The work noise is covered by the prisoner choir led by Flt Lt Cavendish. USAAF Captain Virgil Hilts, â€Å"The Cooler King,† irritates guards with frequent escape attempts and irreverent behavior. While in the cooler, he befriends a young RAF Flying Officer named Archibald Ives, and the two strike up a plan to escap e; they are caught while attempting it and returned to the cooler. The experience seems to take a toll especially on Ives, who is close to an emotional breakdown from his time in captivity. While the British POWs enjoy a 4th of July celebration organized by the three Americans, the guards discover tunnel Tom. The mood drops to disappointment and pushes Ives over the edge. He is drawn to the barbed wire that surrounds the camp and, in a final act of desperation, climbs it in view of guards. Hilts runs to stop him but is too late, and Ives is machine-gunned dead near the top of the fence. The prisoners switch their efforts to Harry. Hilts, aggrieved by the loss of his friend, agrees to change his plan and reconnoiter outside the camp and allow himself to be recaptured. The information he brings back is used to create maps showing the nearest town and railway station. End of the real â€Å"Harry† tunnel (on the other side of the road) showing how it doesn't reach the cover of the trees Entrance of the tunnel â€Å"Harry† showing scale of distance to far end of tunnel The last part of the tunnel is completed on the night of the escape, but is 20 feet short of woods which are to provide cover. Danny nearly snaps from claustrophobia and delays those behind him, but is helped by Willie. Seventy-six escape. After attempts to reach neutral Switzerland, Sweden, and Spain, almost all the POWs are recaptured or killed. Hendley and Blythe steal an airplane to fly over the Swiss border, but the engine fails and they crash-land. Soldiers arrive. Blythe, his eyesight damaged, stands and is shot. Hendley waves and shouts â€Å"don't shoot†, and is captured as Blythe dies. Cavendish, having hitched a ride in a truck, is captured at a checkpoint, discovering another POW, Haynes, captured in his German soldier disguise. Bartlett is recognized in a crowded railroad station by Gestapo agent Kuhn. Another escapee, Ashley-Pitt, sacrifices himself when he kills Kuhn with Kuhn's own gun, and soldiers then shoot and kill him. In the commotion, Bartlett and MacDonald slip away but they are caught while boarding a bus after MacDonald blunders by replying in English to a suspicious Gestapo agent who wishes them â€Å"Good luck†. Hilts steals a motorcycle, is pursued by German soldiers, jumps a barbed wire fence but becomes entangled in another and is captured, he escapes execution as a spy by showing them the airforce label on his shirt. Three truckloads of captured POWs go down a country road and split off in three directions. One truck, containing Bartlett, MacDonald, Cavendish, Haynes and others, stops in a field and the POWs are told to get out and â€Å"stretch their legs. † They are shot dead. In all, fifty escapees are murdered. Hendley and nine others are returned to the camp. Von Luger is relieved of command of the prison camp and is driven away by the SS for failing to prevent the breakout. Only three make it to safety. Danny and Willie steal a rowboat and proceed downriver to the Baltic coast, where they board a Swedish merchant ship. Sedgwick steals a bicycle, then rides hidden in a freight train boxcar to France, where he is guided by the Resistance to Spain. Hilts is brought back alone to the camp and taken to the cooler. Lieutenant Goff, one of the Americans, gets Hilts's baseball and glove and throws it to him when Hilts and his guards pass by. The guard locks him in his cell and walks away, but momentarily pauses when he hears the familiar sound of Hilts bouncing his baseball against a cell wall. The film ends with this scene, under the caption,

J & J Automotive Sales Essay

Replicate business and referrals from pleased clients are fundamental to success in selling. The longer you work in sales as a professional person committed to treating your customers right, the higher and higher will be the proportion of your business emanating from repeat business and customer referrals. By contrast, think about the stereotype of the person we would generally consider the antithesis of professionalism in selling, the used-car salesperson. Of course, there may be some used-car salespersons out there that are professional businesspeople, but by and large their reputation is not exemplary. The reason? We believe it has a lot top do with the fact that the person selling in the used-car lot sees the prospect as an opportunity for a one-time transaction. Seldom will a customer return to that same used-car lot for a repeat purchase, and the used-car dealer virtually never has service facilities for developing an ongoing relationship after the sale. Used-car buyers rarely refer friends and colleagues to the dealer they bought from. When they do, it’s because of the availability of a particular vehicle rather than the dealership per se. Compare that with successful new-car dealership, especially those at the high end, who want you as a long-term customer that will refer friends and colleagues to the store and its salespeople. If you’ve ever dealt with a dealership like that, you’ve enjoyed a personal relationship with your salesperson and the service department reps, which is well worth paying for. You’d certainly agree that your salesperson does not fit the stereotype of a used-car salesperson. It’s just one illustration of a business which appreciates the fact that its survival is contingent upon repeat business and customer referrals. Joe luckily has good dealing relationships with his customers which is a good start in countering this stereotype. Not only must he be aware of the features associated with a variety of models, he must also be familiar with mileage, modifications, rebuilds, and the quirks of each car on the lot. As such, he could work against the stereotype as a slick con artist looking to make a quick buck. Part of this, may be due to the larger commissions used car salespeople like Joe make on each sale, thus encouraging them to complete as many sales possible. While stereotypes abound regarding used car dealerships, it is unfair to cast a negative light on the entire used car industry. The bonded dealers behave like other principals; some are up front and cooperative; others disappear or simply refuse to cooperate. Now while you consider you have seen and heard it all, a new claim presents novel and astonishing facts. For example, you are looking for a second-hand care and Joe activates your stereotype of ‘used-car dealer’. However, the car looks quite good buy. Is he lying to you or is he offering a good deal? If additional information seems to fit your initial judgment then you have category confirmation. You are confirmed, in your view of the salesman and leave it at that. If, however, the category is not confirmed, then you engage in re-categorization, and attempt to find a category that is a better fit – maybe the Joe is re-categorized as ‘helpful assistant,’ who sold cars honestly. Since Joe has this characteristics of passion in cars and the sincere concern to his customers, having this kind of stereotype would not hinder him from obtaining good customers, because he will, of course, gain their trust and as such, would gain good relationship with them. As a customer on the other hand, having Joe as a salesperson of used cars, I would definitely come back to him and get another good deal in buying his cars. The stereotype wouldn’t definitely affect my relationship with Joe as his customer and surely would come back for another deal. AutoNation created a huge business by exploiting the public’s perception of used-car dealers. Middle-volume dealerships with less expensive cars try to increase sales volume by getting uncertain customers the larger dealers ignore. They track sales workers to make sure they follow a prescribed script with customers. Smaller suburban dealerships also concentrate on uncertain customers but some also give special services like loaner cars and pick-up and delivery service in hopes of repeat and referral business. Reference: Kimball, Bob, and Jerold Hall. Selling in the New World of Business. Binghamton, New York: Haworth Press, 2004.

Free Essays on Robert Owen

Robert Owen, the son of a saddler and ironmonger, became one of the most successful mill owners of the Industrial Revolution with a reputation as the producer of fine cotton. However, it was not as a successful and respected businessman that he left his mark on history, but as one of the most prominent social reformers of the period, a pioneer of modern British socialism and a source of inspiration to the cooperative and trade union movements. Even as a young boy, Owens was an exceptional person. Before he was ten, he had already read many classical novels such as Pilgrims Progress and Robinson Crusoe, as well as books on history and theology, which as considered much too difficult for a child of his age. Owens moved on to become involved in the textile industry at a young age. He became a Draper ¡Ã‚ ¯s assistant and eventually a Master cotton spinner by the age of twenty. In 1789, he borrowed some money from his brother and went into business with Ernest Jones, a young engineer. Initially, the partnership was to manufacture new spinning machines, but shortly after, Owens set up his own cotton spinner with just three employees. His entrepreneurship led to great success, and by the age of twenty, he was in charge of a modern steam cotton mill employing 500 people. He became extremely successful in this field and eventually became a partner in the Charlton Twist Company. As a partner of the Charlton Twist Company, Owens would often travel great distances to seek orders. On one of his trips to Glasgow, he met his future wife Caroline Dale, the daughter of David Dale. At the time, David Dale was the owner of several large cotton mills at New Lanark. In 1799, Owens and his partners convinced Dale and purchased the New Lanark mills. From the very beginning, Owens saw the poor living and working conditions of the workers and wanted to improve those standards. At the time, the mill employed between 1500 to 2000 workers,... Free Essays on Robert Owen Free Essays on Robert Owen Robert Owen, the son of a saddler and ironmonger, became one of the most successful mill owners of the Industrial Revolution with a reputation as the producer of fine cotton. However, it was not as a successful and respected businessman that he left his mark on history, but as one of the most prominent social reformers of the period, a pioneer of modern British socialism and a source of inspiration to the cooperative and trade union movements. Even as a young boy, Owens was an exceptional person. Before he was ten, he had already read many classical novels such as Pilgrims Progress and Robinson Crusoe, as well as books on history and theology, which as considered much too difficult for a child of his age. Owens moved on to become involved in the textile industry at a young age. He became a Draper ¡Ã‚ ¯s assistant and eventually a Master cotton spinner by the age of twenty. In 1789, he borrowed some money from his brother and went into business with Ernest Jones, a young engineer. Initially, the partnership was to manufacture new spinning machines, but shortly after, Owens set up his own cotton spinner with just three employees. His entrepreneurship led to great success, and by the age of twenty, he was in charge of a modern steam cotton mill employing 500 people. He became extremely successful in this field and eventually became a partner in the Charlton Twist Company. As a partner of the Charlton Twist Company, Owens would often travel great distances to seek orders. On one of his trips to Glasgow, he met his future wife Caroline Dale, the daughter of David Dale. At the time, David Dale was the owner of several large cotton mills at New Lanark. In 1799, Owens and his partners convinced Dale and purchased the New Lanark mills. From the very beginning, Owens saw the poor living and working conditions of the workers and wanted to improve those standards. At the time, the mill employed between 1500 to 2000 workers,...

Investigative journalism Assignment Example | Topics and Well Written Essays - 500 words

Investigative journalism - Assignment Example While Jordan had shown willingness to trade Moath al-Kasasbeh with al-Rishawi, it asked for a proof of life suspecting that the pilot had long been killed. Jordanian intelligence reported that Moath al-Kasasbeh was already been killed as early January 3 of this year (Vinograd, 2015) and that ISIS is just using the pilot to gain media mileage that could enhance their propaganda warfare and have more recruits. Jordan’s retaliation was swift. It made good on its threat to execute its terrorist prisoners if Moath al-Kasasbeh will be killed. When the news of Moath al-Kasasbeh death through burning broke out in the news, the King cut short his visit from the United States and hurriedly went back home to Jordan and had their terrorists prisoners executed the next day. Jordan also vowed to wipe out ISIS at the face of the planet and will wage war on its own backyard. True to its promise, Jordan led by its King Abdullah, conducted a series of bombing in ISIS stronghold and positions. At present, there are already more than 56 airstrikes conducted by Jordan and counting. Other Arab countries are also joining the fight against crisis as United Arab Emirates had sent a squadron of its F-16 to join the bombing run against ISIS. United States cautioned that such attack must be coordinated with coalition forces for it to have more impact and effective and also to minimize the risk against coalition partners. While Jordan agrees, it is now also taking initiative on hitting ISIS targets. This development is relatively new in the fight against ISIS because for the first time, Arab countries in the Gulf are taking active participation in the fight particularly in the bombing run which was typically done by United States with only minor participation of Gulf Countries. That number has now increased and with the momentum of current development, it looks like the number of Arab countries participation against ISIS will

Fort Blount, Tennesseee Essay Example | Topics and Well Written Essays - 1250 words

Fort Blount, Tennesseee - Essay Example This cave has limited access to the public due to the various issues associated with it; among them being health related ones; and, in this case, the effects of radon upon exposure. In this paper, therefore, our main focus will be on identification of the location of the site, the description of the cave as well as its formation to the famous and great feature it is today. The big bone cave is a Monteagle limestone cave that was formed around 2117B.C, its nearest city being Bone Cave, Tennessee. The directions to the cave are simple; the location of the bone cave state natural area and rock island state park is between Sparta and McMinnville. In order to reach rock island state park one is to take Hwy 70S to Hwy 136, continue for about a mile then turn left on Hwy Rock Island. From this point, the distance remaining is about three miles to the entrance of the park that holds the cave. Cumberland Plateau on which the bone cave is located is covered with limestone, sandstone that are resistant to the agents of erosion, and it is, therefore, difficult for the cave to get affected or even risk getting affected. The cave, on the other hand, is also covered with highly resistant and impermeable rocks to offer it protection. The caves that have continued to form on the plateau escarpment are as a result of the streams that have continued to flow on the surfa ce of the escarpment, thereby eroding the cap rock slowly by slowly. The continuous flow of the streams on the surface of the plateau escarpment leads to the exposure of the limestone, and with time complete erosion occurs. It is as a result of this erosion that caves such as the big bone, form; as a result of the erosion of the plateau escarpment. This also explains the location of the big bone cave, which is at the bottom of the plateau escarpment that once existed but then later on eroded to come up with the cave. In the case of the big bone cave, the stream that eroded the plateau escarpment was the