Essay on Expectations in the Movie The Hours - 3010 Words

Expectations in the Movie The Hours We expect those endowed with a gift - be it artistic, intellectual or circumstantial - to cultivate that gift and use it as a vehicle for excellence in life. In the movie The Hours Virginia Woolf, the 20th Century British author; Laura Brown, a doted-upon 1951 Los Angeles housewife; and Clarissa Vaughan, a 2001 New York editor; struggle with their gifts and the expectations they, and others, have for themselves. All three women are obsessed with finding the right balance between living, freedom, happiness and love. The Hours attempts to use one day to reflect Woolf s life and the impact her work has had on others. In the movie, Woolf is writing Mrs.Dalloway which Brown is reading and†¦show more content†¦Vaughan is forced to let go of Richard, at least physically, after he commits suicide. Each woman is under tremendous pressure from both herself and society. Woolf is a literary genius who is expected to develop and share her gift in spite of her illness and fears. Writing for Woolf is a means of expressing and exploring her thoughts: Her writings reflect an attempt to reconcile the dual nature of her sexuality, her unfulfilled desire to bear a child she often compared the writing process with childbirth her consuming fear of failure, and an overwhelming sense that she might lose control over her life (Authors and Artists for Young Adults). Woolf, by simply writing how she felt, has penned works that have been praised as revolutionary and deeply moving. Self-expression allowed Woolf to tap into her inner self and create her masterpieces. Brown is privileged to have a husband who cherishes her and a son who adores her but she finds herself unhappy in her marriage. She is expected to be the loving and appreciative wife and mother but harbors feelings of incompetence and inferiority. This is aptly shown in the scene in which she attempts to bake a birthday cake for her husband. She expresses feelings of frustration and her incapacity to do something as simple as bake a cake to her neighbor, Kitty Barlowe, who Brown views as good at everything. Ironically the only thing Barlowe cannot do is bearShow MoreRelatedModern Films : The Issue Of Marketing In Modern Film1348 Words   |  6 Pagesproducers have to do is satisfy expectations for the film meaning if it is a title like Star Wars, practically everyone already knows about the film and so now all that needs to happen is for the creator to make the film entertaining. The creator in this case does not need to convince the viewer that they like their story, the viewer already knows whether they like it or not, and this is why it is difficult to make original titles massive blockbusters; there is no expectation to be satisfied. AdditionallyRead MoreThe Film Analysis Of Dunkirk By Christopher Nolan949 W ords   |  4 PagesThe movie Dunkirk by Christopher Nolan captures the action and intensity of a war zone in a sandy beach in northern France. The criteria for any movie to exceed expectations would be to have a strong story arc, character development, music, suspense, special effects, authenticity to history, and realistic setting. Dunkirk meets all the criteria for a movie that’s why it passed the $500 million mark this past weekend. For a historical movie, Dunkirk, exceeds the criteria for a successful movie becauseRead MoreAnalysis Of The Book The Breakfast Club 1230 Words   |  5 PagesThe Breakfast Club is a movie about five students from Shermer High School who gather on a Saturday to sit through eight hours of detention. These five students; Andrew Clark, Claire Standish, John Bender, Allison Reynolds and Brian Johnson, have nothing in common. 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A Logical System Of Classification For Relating Properties...

The ways in which we describe the world determine how we interact with it, perceive it, and understand it. In the Categories, Aristotle develops a logical system of classification for relating properties and substance to one another in a hierarchical manner. In order to do so, he develops a system of ontology that offers a quite different explanation from that presented by early philosophers, such as Plato in his Realm of Forms theory. Through his Physics, he further explains, drawing heavily on the Categories, how it is that the fundamental units of existence and properties undergo changes. In the Categories, Aristotle proposes a set of ten fundamental things that exist (the categories) (RAGP, 696). Aristotle assumes that all aspects and manners of existence can be classified within these categories. He then seeks to demonstrate how they relate to each other by dividing existence into four parts, presented on 695. His first central claim is the organizing principle of the Categories, that there are essentially two fundamental relation or divisions on which the correct ontology is based; (not) being in or present a subject and (not) being said of subject and all things are subject to this division. According to this division, all subjects and attributes thus either are or are not said of a subject/present in a subject (RAGP, 694-695). Correspondingly, all objects can be said to be in or not in a subject as well. Thus a) Some things are said to be of a subject but not in theShow MoreRelatedPublic Heritage Assets7776 Words   |  32 PagesAustralian governments are in the process of adopting full accrual accounting systems based on those adopted by business, and it is proposed that all public heritage facilities should be recognised as government assets and be recorded in its statement of assets and liabilities. 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The intellectual property rights of the author or third parties in respect of this work are as defined by The Copyright Designs and Patents Act 1988 or as modified by any successor legislation. 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TOC in Project Management Essay Example For Students

TOC in Project Management Essay Using TOC To Improve Project Management. ________________________________________ Most projects, whether big or small, are undertaken either to create a new structure, such as a plant, an airport, an Olympic stadium, a bridge, a new product, etc., or to modify an existing structure, such as a plant expansion, adding a new production line, expanding a highway, etc. In most cases, the late completion of the project, such as finishing the Olympic stadium two weeks after the opening of the Olympics, or having a new airports opening delayed until after the elections, etc., generally carries with it some significant negative ramifications for the project owner. At the same time, there are many cases where the early completion of the project will provide the project owner with significant positive ramifications, such as the market share gained by preempting the competitions launching of a new product, or the increase in sales achieved by bringing the plants productive capabilities on-line sooner, etc. Another important characteristic of most projects is that many of the resources performing the individual project tasks are sub-contracted resources, at least in terms of their relationship to the project manager. As sub-contracted resources, they are often committed to completing more than one project specific task during any given window of time. The issue of resource availability is often further complicated by the nature of the disturbances associated with most project specific tasks. As a result, most sub-contractors will only commit to completing a project specific task within a window of time and by a specific date, regardless of the fact, that the actual time required to complete the project specific task is generally much smaller than the allotted time window. Hence, the detail scheduling of the sub-contractors resources is generally something that most project managers have little or no direct control over. Lastly, most projects usually involve the investment/expenditure of one or more limited resources, such as money, peoples time, skills, equipment, etc. As a result, most people try to maximize the return on these investments/expenditures, thus making the overall lead time, from start to finish, the key factor in almost every project. As with most decisions involving the use of limited resources, there is the need to consider trade-offs. Trade-offs that often appear as a conflict between the availability of the limited resource, which is usually money, and the overall project lead time from start to finish. As long as the decisions involve trade-offs which cannot be quantified into a single measurement, that is without a Final Judge, then the determination of best will always remain somewhat less than objective. Hence, the problem of how to best evaluate the myriad of proposed projects, particularly when all of them promise great benefits, also remains highly subjective. Through the use of the TOC Thinking Processes it becomes apparent why the existing methods used to quantify such decisions, such as Net-Present-Value or Net-Future-Value, did not really provide the sought after Final Judge. The main reason stems from the fact that the true investment value of a limited resource is not adequately represented by considering only the number of limited resource units to be invested. As with any limited resource, the real key to its value resides in its limited nature. Hence, determining the true value of any limited resource investment requires a quantification that is based on both the number of limited resource units (dollars) to be invested, and even more importantly, the number of time units (days) that these limited resource units (dollars) will not be available. This combined unit of measure, often referred to as dollar-days, is used in a number of the TOC applications. In the TOC application to project management, the dollar-day unit of measure is used to quantify a projects limited resource investments as a function of time. .ua2e99b0f6eb3e00f9bbadb20732dc73c , .ua2e99b0f6eb3e00f9bbadb20732dc73c .postImageUrl , .ua2e99b0f6eb3e00f9bbadb20732dc73c .centered-text-area { min-height: 80px; position: relative; } .ua2e99b0f6eb3e00f9bbadb20732dc73c , .ua2e99b0f6eb3e00f9bbadb20732dc73c:hover , .ua2e99b0f6eb3e00f9bbadb20732dc73c:visited , .ua2e99b0f6eb3e00f9bbadb20732dc73c:active { border:0!important; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .clearfix:after { content: ""; display: table; clear: both; } .ua2e99b0f6eb3e00f9bbadb20732dc73c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua2e99b0f6eb3e00f9bbadb20732dc73c:active , .ua2e99b0f6eb3e00f9bbadb20732dc73c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .centered-text-area { width: 100%; position: relative ; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua2e99b0f6eb3e00f9bbadb20732dc73c:hover .ctaButton { background-color: #34495E!important; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua2e99b0f6eb3e00f9bbadb20732dc73c .ua2e99b0f6eb3e00f9bbadb20732dc73c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua2e99b0f6eb3e00f9bbadb20732dc73c:after { content: ""; display: block; clear: both; } READ: E-Mail Privacy Rights In Business Essay When all of the limited resource investments of a project are quantified in this way the end result is a single measurement that does, in fact, prove to be good Final Judge. This Final Judge is commonly referred to as ;Flush;. Having a Final Judge solves only part of the problem as it addresses only the quantification of limited resource investments but not the timing of these investments. The planned .

Element in the Tattoo Design-Free-Samples-Myassignmenthelp.com

Question: Write a Short Paragraph that Provides an Overall Introduction to your Design and Character. Answer: Introduction The tattoo design is created to represent the character of Romeo. Using all the necessary elements, the design incorporates the use of four elements and four different symbols that address and reflect Romeos character. The use of colours that represents his persona, feelings and moods; use of symbols that represents challenges Romeo faces in life and use of symbols and word that describe his character, his interests and hobbies. The tattoo design elaborates the character of Romeo using symbolic approach, and supporting quotes from the play, presenting the image of Romeo as reflected through imagery and design and as supported by the quotes from the play. The first element in the tattoo design represents Romeos impulsive and brave nature. The charged wolf, ready to pounce on an enemy or a prey is a symbol of Romes impulsive nature which drove him to do extraordinary things out of anger and bravery and sometimes which on numerous occasions exposed his weaknesses. This is demonstrated after his best friend Mercutio is killed by Tybalt, as he told Benvolio, This days black fate on more days doth depend. This but begins the woe, others must end. Additionally, his bravery is topnotch. Despite knowing that Tybalt was a very skilled sword fighter, he did not fear him and decided to fight him in seeking vengeance after the death of Mercutio; saying, Alive in triumph and Mercutio is dead! Away to heaven respective lenity, and let fire-eyed fury be my conduct now! Now Tybalt, take the villain back again, that late thou gavest me for Mercutios soul is but little way above our heads staying for thine to keep him company: either you or I or both u s must go with him. A wolf is a very brave and angry animal. It can defend itself under all circumstances and do not hesitate to attack when irritated. In this case, it represents Romeos brave and impulsive nature, he exhibited throughout the play. The second element signifies Romeos romantic nature. A heart with plenty of growing and blossoming flowers is a symbol of romantic prowess and loving nature of Romeo which he exhibited throughout the play first to Rosaline and then secondly to Juliet. But he seems infatuated by Rosaline, who is not interested in him. His unstable and weak emotions are evident as they lead him to abandon Rosaline for Juliet, and this is confirmed by Friar Laurence who pointed this to him, Holy saint Francis, what a change is here. Is Rosaline, who you used to love so dear so soon forsaken? Young mens love then lies not truly in their heart but in their eyes. A tender and emotionally weak people tend to develop love feelings quickly and the heart growing with blossoming flowers represents Romeos tender and fertile heart ready for love to sprout without hesitation. The third element in the tattoo design symbolizes Romeos fear and personal insecurities about his future. A combination of the sun and stars and darkness is a symbol of fears Romeo had over the possibility of ending up with his lover Juliet. His fears are evident when he stated, I fear, too early, for my mind misgives some consequences yet hanging in the stars shall bitterly begin his fearful date with this nights revels, and expire the term of a despised life closed in my breast by some vile forfeit of untimely death. Romeo and Juliet constantly see each other as light. Romeo refers to Juliet as the sun and Juliet refers to Romeo as the stars. Therefore, the symbol of the sun and the stars represents the complicated nature of Romeos relationship with Juliet, as they have to constantly meet in the privacy of darkness while they see themselves as the sun and the stars. The symbol represents Romeos fears over his relationships fate with Juliet. The fourth element of the tattoo design signifies Romeos unstable emotional state. Romeo is ruled by his emotions. The symbol of a nectar feeder bird on top of a flower shows how temporary his emotions are; because, the nectar feeder does not feed on a single flower but rather wanders everywhere looking for sweeter nectar. This is illustrated in his emotions towards Rosaline by stating his feelings, Well, in that hit you miss. Shell not be hit with cupids arrow. She hath Dians wit and in strong proof of chastity well armed, from loves weak childish bow she lives unharmed. She will not stay the siege of loving terms, nor bide th encounter of assailing eyes, nor ope her lap to saint seducing gold. He later goes for Juliet the moment he see her. Romeo also expresses his weak emotions when he threatened Balthasar, But if you are jealous, dost return to pry in what I further shall intend to do, by heaven I will tear thee joint by joint. The nectar bird symbol therefore, signifies Romeos u nstable emotional state. In conclusion, the tattoo design has touched the most fundamental character traits that defined Romeo, summing up his naturally volatile and impulsive nature in everything that he did, whether in his expression of his love feelings, reacting to different situations and expressing his anger, excitement or fears. The tattoo design has therefore brought out the symbolic picture of Romeos persona, effectively using the different symbols and expressions to knit together his broader character image.

Fast Food free essay sample

This will be a detailed paper on why you should not eat fast food. I will be using the three classic appeals; logos, pathos, and ethos to build a persuasive argument. Here in America fast food restaurants have become popular, and as a result health problems are increasing. While it may be easier and convenient to buy fast food, it is not always a great health choice while trying to keep a healthy diet. There has to be a mental decision on making better choices on the food we pick for ourselves and amily members. Fast food is everywhere and with our busy lives we tend to lean towards a fast and convenient meal more so than a healthy homemade meal. Its aggravating at times trying to provide for ourselves and others and with that, some parents cannot handle their kids constant asking for McDonalds. McDonalds are one of the top fast food chains in the world, but that is not necessarily a good thing. We will write a custom essay sample on Fast Food or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Here are a few reasons why we should research what and where we eat before ordering from the dollar menu. On the nydailynews. com website it list a lawsuit on McDonalds grilled chicken andwich for containing PhlP a cancer causing chemical. Recently McDonalds was accused of having pink go for their products and also used different types of meat while also using a cleaning product to clean their food. We should learn not to put our faith in big businesses because at the end of the day you get what you pay for. Obesity is caused by unhealthy eating; fast food is one of the main causes of obesity in Mississippi. People lifestyles play an important role, because a worker at Nissan doesnt get the opportunity all the time to prepare a healthy meal in their hirty minute break. Three burgers are equal to a full watermelon being eaten, each burger being around 400 calories each. Fast food meals arent packed with easy burning calories so as time passes and an individual eats unhealthy fat gets stored. Obesity is big because from it come: high blood pressure, loss of stamina, diabetes, and heart attacks to name a few diseases. (www. cdc. gov) Shows that more than one third of U. S adults are overweight, and in 2008 147 billion dollars where used in treating health related issues. We need to start making better choices about the food we eat. By choosing healthier, fresh foods people can avoid the unhealthy fast food. You can have a bigger variety of fruit and vegetables rather than buying a meal from a fast food restaurant. A fourteen year old burger was found at a McDonalds by a Utah man. It was preserved by accident. Fat food restaurants have been using preservatives to keep their foods from rotting. With that being said I encourage you not to make fast food an everyday habit because that can lead to you getting diabetes, ulcers, or even cancer. Learn how to regulate the things you eat. In conclusion, people know that fast food is fattening and unhealthy they are still going to consume it. Some people still will not have time to cook a good healthy meal atter a long day ot work or school. Instead they will still stop and waste their money at McDonalds or any other fast food establishment and get a greasy fast food meal. People will still get diabetes, ulcers, or cancer from eating these meals. Adults and children will still suffer from obesity because they would rather pay for a convenient meal than a healthier alternative. Be different, say no to the fast food. Fast Food free essay sample Fast-Food Feast Case Study Whitney Reichert Grand Canyon University MGT 655 Fast-Food Feast Case Study 1/9/13 Visit at least two different fast-food restaurants that make hamburgers and observe the basic differences in the following processes: How are in store orders taken How are the hamburgers prepared How are special orders handled How are the burgers cooked How are the burgers assembled Is a microwave used How are other items such as fires and drinks handled The two fast-food restaurants that I visited were McDonalds and In-and Out. The main differences that I found between the two restaurants were freshness and customer service. When in comes to in store orders at McDonalds, you wait in line to place your order. It seems to be not as customer service driven. You give them your order, which seems to be informal, and not that personable. You pay and stand off to the side until they call your order. We will write a custom essay sample on Fast Food or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page They announce your order is ready by saying your order out loud, for example number 2 with a diet coke, without your name attached. At McDonald’s the hamburgers are prepared from frozen possessed meat, they then they cook the meat on the grill. As far as special orders go you must tell the cashier exactly what you don’t want because the burgers come as they are. The cashier then inputs the data into the computer, which then in turn allows the kitchen to make the arrangements. The employees in the kitchen then prepare the burgers; they utilize somewhat of an assembly line to make sure the right ingredients get put on the right burger. With McDonalds you do not have full visibility of the kitchen staff preparing the food. While at McDonalds I did not see a Microwave used. When it comes to fries, McDonalds has their fries frozen in a large plastic bag they then cook them in oil. With drinks you serve your self. When I went into In and Out it was a little different of an experience, and seemed more personable. The orders here are taken similar to McDonalds, but they take your name and give you a number, you wait off to the side and they then call your name and number aloud. The hamburgers at In and Out are grilled using higher quality meat, without preservatives, and they utilize local beef distributors. When it comes to special orders, it seems every order at In and Out is a special order. They ask you exactly what you want, where’s McDonalds doesn’t ask you exactly what you want, they just assume and you must be the one who asks for changes. The cashier then inputs the data into the computer, which then in turn allows the kitchen to make the arrangements. The burgers are cooked on a grill just like McDonalds. When it comes to the assembly, In and Out also utilize somewhat of an assembly line to add ingredients. In and Out uses fresh ingredients, the kitchen is open and you can see the employees making the food right in front of you. As far as I saw, a microwave was not used. As for fries, they use fresh potatoes with out preservatives, instead of bagged fries. As far as drinks goes at In and Out you also serve yourself. This assignment was quite interesting, I would defiantly choose In and Out over McDonalds. They have fresh ingredients, you can have it your way, and the experience is more personable. Fast food free essay sample Recently, fast food has been from the most popular way for a lot of people. Nowadays, people think that they don’t have plenty of time to prepare food. However, a lot of families have been addicted to that type of fast food, finding it so easy and comfortable for their busy life. Fast food should not be banned because it is a freedom of choice, it has a lot of social benefits and the government offers high taxes on those places which serves that type of food. First of all, every person has the right to choose what to eat or what to drink. It is the freedom of choice. People should be able to put whatever they want in their bodies, whether it be unhealthy or not. Fast food industries started making less harmful products and reducing obesity, but people make their own decision to eat it knowing it is bad for them. We will write a custom essay sample on Fast food or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page So, it is their own responsibility to take care of their own health. Yes, fast food is not doubt unhealthy for people almost all the time. But in modern life, fast food can be helpful and sometimes quite enjoyable. Engle, â€Å"Because to take away a mans freedom of choice, even his freedom to make the wrong choice, is to manipulate him as though he were a puppet and not a person. † ) In United States, fast-food restaurants popularity is growing every single second. Nowadays, people can afford any a whole meal for 6 to 7 dollars each. (Bose D,N. D) fast food restaurants can provide customers with simple large meal sets with minimal cost. People admit that fast food restaurant helps them getting their life more easy, comfort and uncomplicated. For instance, if the two parents were having a lot of late work and late meetings and their kids were home without food for dinner without any cooked food, they can pull over at any near restaurant to order food before heading to their shelter. (Clark S, 2010) fast food restaurants are located nearly everywhere, providing customers with simple meals without the need to spend time travelling far distance just to purchase food. This popularity of fast food is increasing because of their main causes: low cost, fast service and restaurants is available everywhere. These are a lot of social benefits and other benefits for fast food that it leads to family gathering, giving that chance to the family to gather with their children, where a lot of these fast food restaurants have some games for those children or some luxury calm places for other families. .Otherwise, today a lot of people and teenagers hangout in a lot of fast food restaurants as a friends outing. However, a lot of people think that fast food is from the most dangerous things that should be banned due to its diseases firstly because it makes you obese; secondly it links a lot of medical problems like diabetes. Some think it leads to cancer and one of the most reasons that fast food lead to gaining of a lot of weight due to obesity. But fast food companies and industries nowadays is trying to fix that kind of problems by producing a lot of healthy choices for fast food as McDonalds, chili’s, Kfc and Papa Jones have produces a lot of diet food and drinks and healthy choices in order to satisfy all the needs needed by all ages of people with different opinions and choices. (Wolverson M. N,2009) fast food provide customers with a wide range of food to choose from. In conclusion , everything in our lives have pros and cons ,advantages and disadvantages . fast food has advantages more than its disadvangtes and at the end of discussion fast food should not be banned as a respect for the human rights as the freedom of choice . Giving people the chance to take their own choices and the decision to select their own style and their own life by eating whatever they want whether it is unhealthy or not. Fast food free essay sample Food that is prepared and served quickly is termed as fast food. Fast food such as McDonald, KFC, Pizza Hut, Burger King and others already suits perfectly into the fast paced life of a modern era. There are about 400 KFC’s restaurant, more than 150 McDonald’s restaurant and about 50 Burger King’s restaurant in Malaysia. Despite all the debate about the advantages and disadvantages that fast food has, the industry is flourishing. The most evident advantage of fast food is that it saves time. At the end of a hard-working day, when one returns home all tired and hungry, there is nothing better than getting a ready meal such as pizza or burger. Besides time, cost saving gives fast food an edge over the meal prepared in the kitchen. If one lives alone, then it is cheaper to buy a meal at the supermarket instead of cooking it at home. Usually, fast food is higher in soya, fat, sugar, oil, fried meat, salt, cheese, mayonnaise and obviously calories. We will write a custom essay sample on Fast food or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In fact, fast food is more unhealthy than home-cooked meals, because it contains higher amounts of unwanted nutrients like salt, fat and various types of additives (artificial chemicals). The disadvantage of fast food is it will cause obesity in population, high blood pressure, strokes and related diseases of the heart. Nowadays, fast food restaurant becomes a good place for youngsters to hangout with friends and peers. This is a factor that is making a number of families spend less and less time together. As a result, relationship between family members become bad. Fast food has its own pros and cons. If we making some smart choices while placing the order for fast food, we can definitely minimize the drawbacks of fast food. Salads are a smart choice. If you could choose between the fried and boiled options, order the boiled preparation. Avoid ordering carbonic drinks when you are thirsty, go for fruit juices, low-fat milk, diet soda.

cf intro Essay Example

cf intro Essay Example cf intro Essay cf intro Essay LBSlM-2013-1 *Term-II Introduction to Corporate Finance Some Recent Business News Reliance Industries declares 150% dividend India Nippon shareholders approve 7:10 bonus issue Introduction to Corporate Finance 2 What is Corporate Finance about? ? Financial Decisions made by Corporations. ? Financial decisions relate to: Where to invest the firms resources (Investment Decisions) How to raise resources for the firm (Financing Decisions) How to reward the owners of the business (Dividend Decisions) ? Corporate Finance provides answers to these issues. Investment Decisions ? Firms have scarce resources which must be allocated mong competing uses. ? Resources may be used for : Revenue Generating Cost Saving Projects Strategic Decisions Introduction of a New Product Replacing old equipment with new equipment Which markets to enter Acquisition of other companies ? While taking Investment Decisions, we measure the Benefits (Returns) from the proposed Investment projects and compare with Mini mum Acceptable Hurdle rate to decide acceptance or rejection. 4 Investment Decisions (Contd. ? Minimum Acceptable Hurdle rate should be set so as to reflect: Risk profile of the project (Higher hurdle rate for riskier projects), and Financing mix of the project Projects with different Risk Profiles Less Risky More Risky 5 ? Investment Decisions are concerned with: Establish Minimum Acceptable Hurdle Rate appropriate to the investment proposal Measuring Benefits (Returns) from the investment proposals, Comparing benefits with minimum acceptable hurdle rate in order to accept (or reject) the project. Invest in assets that earn a return greater than the minimum acceptable hurdle rate 6 Financing Decisions ? How should firms raise Financial resources required? ? Businesses can broadly raise funds either through: Owners Fund (Equity) Borrowed Funds (Debt) ? Financing Decision involves : Finding an optimal mix between Debt Equity (Capital Structure), and Type of Instrument Long Term Vs. Short Term, Fixed Rate Vs. Floating Rate, Straight Vs. Convertible, Domestic Markets Vs. International Markets. Choose a financing mix that matches the characteristics of assets being financed. Dividend Decisions ? Dividend is any reward by the firm to its shareholders. ? Firms have to decide about what to do with the surplus generated by the firm i. e. : Reinvest into the business (Plough back) , or Distribute as Dividend (reward the shareholders) Amount of Dividend (Dividend Payout) Stability of Dividend (Trend) Forms: Cash Share Repurchase 8 Dividend Decisions (Contd. ) ? Trade-off between re tention distribution is to be made. When the firm is small and has attractive investment opportunities, profits are retained and reinvested. Ata later stage in a firms life cycle when the funds generated are greater than the investment requirements, the firm has to decide about ways of returning the excess cash to the owners. If there are not enough investments that earn the hurdle rate, return the cash to the owners. 9 Linking Financial Decisions with Firms Objective Investment Decision Financing Decision Dividend Decision Invest in assets that earn a return greater than the minimum acceptable hurdle rate Choose the financing mix that maximizes the value of the projects taken , and matches the assets being financed. If there are not enough investments that earn the hurdle rate, return the cash to the owners. Maximize the value of the Firm 10 Objective of the Firm ? How do we Judge the correctness of these decisions? ? The basic objective of Financial Management is: to maximise the value of the firm ? Any decision (Investment, Financing, or Dividend) that ncreases the value is considered good and which reduces the value is considered as poor. Value of the firm is, therefore, dependent on Firms Investment, Financing Dividend Decisions. 11 What is Firm Value? Maximization of Value of the Firm Maximization of Shareholders Value Maximization of Stock Price of the Firm Debt holders can protect themselves contractually. Stock price is an observable real measure of stockholder wealth. 12 Owners (Shareholders) Agents (Top Management) Main Features ? Separation of Ownership Management ? Legal Person ? Limited Liability of shareholders ? Shareholders are distinct from the company Level-I Management Level-II Management Level-V Management 13 Agency Problem ? Shareholders appoint agents (Management) to conduct the business of the company. ? As agents, the management should take decisions to maximize shareholders ? Shareholders delegate decision-making authority to Management hoping that agents will act in shareholders best interests. ? However, in actual practice, the objectives of the management may differ from those of the shareholders. ? Managers may take decisions in their own interest rather than in the interest of the hareholders. ? This pro blem of management (agents) not acting in the interests of their principals (shareholders) is called the Agency Problem. 4 ? Divergence of ownership and control: Those who own the company (shareholders) do not manage it, but appoint agents (management) to run the company on their behalf. ? Difference in Objectives of Management Shareholders: Managers are likely to maximize their own wealth rather than the wealth of shareholders. ? Asymmetry of information: Management, as a consequence of running the company on a day-to-day basis, has access to nside information while shareholders receive annual reports which may themselves be manipulated by the management. 5 Resolving Agency Problem ? Jensen Meckling (1976) suggested methods to deal with agency problem which encourage goal congruence between shareholders managers. ? Monitor the actions of the Management: Audit of Financial statements by independent Auditors; Shadowing of Senior Managers; Employment of External Analysts. ? Incenti ves to Managers: Stock options; Bonus ; Perquisites Punishments ? Both methods involve costs- an inevitable result of the separation of ownership and ontrol of a company. ? Lower the control, lower chances of managers behaviour being consistent with the shareholders, higher the Agency costs. ? Agency costs-(a) when managers do not attempt to maximizes firm value , and (b) shareholders incur cost to monitor managers. Introduction to Corporate Finance 16 Financial System -An Overview Financial System : An Overview ? In any economy there are two types of economic units: Surplus Units, and Deficit Units. Investments are less than their Incomes. (C+l Y) ? Such units have negative savings and need to borrow funds. ? A system through which the savings of Surplus Units are transferred to Deficit Units is called the Financial System. Introduction to Corporate Finance 18 Provide Funds Receive Funds Suppliers of Funds Users ? Financial Markets ? Financial Institutions ? Financial Instruments Services Buy Securities Issue Securities 19 Financial System (Contd. ? Financial System consists of the following three components, which facilitate the ransfer of funds : Financial Markets surplus units to deficit units Centres that provide the facility of buying selling of financial claims Financial Institutions Organisations which channelise funds from Surplus Units to Deficit Units thereby act as mobilisers depositories of savings, and creators of credit. E. g. Commercial Banks, Insurance Cos. Mutual Funds, Developmental Financial Institutions, NBFCs Financial Instruments Claims of the lenders of funds over the funds lent to the borrowers. 20 Financial System Defined ? Financial system refers to a set of complex, interlinked markets, institutions, nstruments and services in the economy which facilitate the transfer and allocation of funds efficiently and effectively. 1 Classification of Financial Markets Maturity of Claim Seasoning of Claim Nature of Claim ? Money Market ? Capital Market ? Primary Market ? Secondary Market ? Debt Market ? Equity Market ? Spot Market Timing of Delivery Structure ? Forward/Futures Market ? Exchange Traded Market ? Over-the-counter Market Financial Markets Capital Money Markets Money Markets: Deal (trade) in debt securities of maturities of one year and less. Economic entities with excess funds for short durations lend (buy short-term instruments) to economic entities which face shortage of funds for short duration (sell short-term instruments). Money Market Instruments: Treasury Bills (T-Bills) Call/Notice Money Repurchase Agreements (Repos) Commercial Bills of Exchange Commercial Papers (CPs) Certificates of Deposit (CDs) No physical location, but an Over-the-counter (OTC) Market; trades are conducted via telephones, wire transfers, and Introductioncomputer trading. to Corporate Finance Capital Markets Deal in long-term securities (equity and debt) having maturities of more than one year.

International Law Coursework Example | Topics and Well Written Essays - 1250 words

International Law - Coursework Example They allege that George W. Bush committed war crimes in October 2008 through the act of authorizing attacks by U.S. military units from Iraq into Syria. The arrest warrant charges George W. Bush with responsibility for the attacks that allegedly resulted in the deaths of eight villagers, four of them children of the refugee parents Mr. and Mrs. Yehia Dajani. This document is an indictment for the arrest of the former President of the United States George W. Bush upon the grounds of war crimes and the gross violation of human rights. The former President is legally liable for these crimes and should, therefore, face trial. Former American President Bush is hereby deemed to be morally as well as legally responsible for the deaths of innocent men, women, and children, in a country that was not officially at war with the United States at the time of these deaths, namely Syria. These attacks resulted in the deaths of eight innocent people and drove their families towards becoming homeless refugees. Four children died in these attacks and justice should be served for the sake of their parents, Mr. and Mrs. Yehia Dajani. It is alleged here that the death of innocent people in Syria was directly caused by the orders of the former President George W. Bush to American armed forces whilst he held that position in 2008. President Bush ordered missile strikes against alleged terrorist targets in Syria without any regard for the possibility of killing innocent men, women, and children when a state of war did not exist between his country and Syria. Due to his express orders, Mr. and Mrs. Yehia Dajani witnessed the deaths of their four children. Former President Bush destroyed their family and took away their future. The American missile attacks resulted in the cold-blooded murder of Syrian children, and were unjustified as well as being unnecessary deaths.