Encounter point Movie Review Example | Topics and Well Written Essays - 1250 words

Encounter point - Movie Review Example ed activities that occur behind the scenes, from regular citizens, to improve social and political relationships between Palestinian and Israeli peoples. There is no real effort to show that one side or the other is more dedicated toward peace or that one particular political side is more aggressive in continuing violence. The film, instead, attempts to simply show the frustrations and social anxieties that come from ongoing war and how they impact thoughts, emotions and the family structure; not to mention community relationships. There is one scene in the movie where there are members of both the Palestinian group and the Israeli culture that are working together in what is referred to as the Bereaved Families’ Forum which attempts to group these people together to discuss different misunderstandings and open positive dialogue between both political groups. It shows how similar both groups are in relation to their desires to achieve peace and avoid ongoing violence that continues to disrupt positive relationships. â€Å"Encounter Point† is a hopeful film that shows that many of the problems between these two groups come from simple misunderstandings and that there are members of both groups that are ready to pave the way toward peace. The film attempts to give a symmetrical view of the importance and needs of both political parties, therefore the interests of both are represented sufficiently throughout the film. One of the main advantages of this film is that is does not involve political parties and their own high-level interests, instead it shows the plight of this conflict from the viewpoint of those most affected by it: the regular community citizen. The filmmakers decided â€Å""politicians come and go but whats happening on the street is whats most important." (Freeman, 2010, p.1). This film recognises that showing political viewpoints would give this film an unbalanced view and would be more of a political documentary than a piece of sociology work that

International And Domestic Business Tourist Tourism Essay

International And Domestic Business Tourist Tourism Essay Tourism industry is one of the booming industries in the world. It is observed that according to survey visitor information available in Sydney is not sufficient. To survive in competitive market it is necessary to provide best possible experience to the visitors with the intention of maximize profit and repeat business. (Destination NSW) Such experiences which they will remember for long time and which affect them psychologically. It is important to know needs of the tourists what attract, encourage them to travel to the destination. Once you know the necessity of the tourist you can prepare for effective target market strategy. Many organisations and tourism department are responsible to set the standard of the particular destination and convert it into a product. Lot of organisation play important role for development of Sydney. In Sydney, Tourism Sydney Council, National Tourism Alliance, Sustainable Tourism Co-operative Research Centre, Tourism Training Australia, Quality Tourism (Sydney Tourism Brand , 2012) contribute for rapid growth of the tourism. Tourism NSW with help of Tourism Australia influences lots of potential global tourists to NSW with skill education, promotion and publicity campaigns, and online services. Main intention is to grow consciousness about sustainable tourism product. The promotions are intended to invite tourists from every part of the world. Hence tourism promoting strategy sets idea for promotional activities of Medina grand Sydney which helps hotel for publicity and campaign of their products. (Tourism Australia, 2012) Mature Markets: UK, USA, New Zealand,  Japan Emerging Markets: China, India, South Korea Trade Development Markets: Singapore, Malaysia, Hong Kong,   Germany, Gulf Countries, Other Europe Market Segmentation On the basis of observation in the market Tourism Sydney has found two main areas of market segmentation: 1) Geographic Approach 2) Psychographic Approach Geographic Approach It is essential to realize geographical aspects to target specific market. The value of International and domestic tourists both are key target market for Medina Grand Sydney. Tourist comes for the purpose of business deals, vacation and adventure sport. Sydney is one of the major cities of Australia and well-known as historical place. Concerts and events are also major type of attractions. Number of adventurous sports help to attracts adventurous tourist. Sydney is popular destination among tourist same like Queensland and Melbourne and now we can called it as main tourism activities place in Australia. The diseases like bird flu and global terrorism affects the international tourist visiting to the Sydney. (Sydney City Information ) Total 26.8 million international and domestic tourists visited to Sydney every year. Number of international visitors increases because of attractive offer by airlines during on and off season and tie up of tourism Australia with international airlines. Most of the tourist comes to visit Sydney are local people from major cities of Australia. . The tourism Australia expected the tourist with different purpose will grow up to 40 million in 2030. The tourist who lives in Brisbane, Melbourne, Victoria and Perth which comes for small period of time consider as important target market. The international tourist who comes from UK, America, New Zealand, Japan and Asia mainly they are corporate traveller. Every year 7.9 per cent Chinese visitors estimate to grow in Australia and will be 783,000 till the end of 2019. (Research, 2012) Recently increase in number of tourists from India, China and South Korea which is emerging market for Australia. Sources of International Business Tourist (Research, 2012) This pie chart shows international travellers of different countries. We can see in pie chart that most corporate travellers come through Asia and New Zealand for business purpose. Asia is most growing international market. Around 18% Asian visitors come to Sydney in recent years which are comparatively very high if we match with last five years statistics. China and India are two main countries from where most of the visitors visited Sydney. By doing some research on target market and understanding their culture Tourism Australia can take competitive advantage of such market. Psychographic Approach Hotel Medina Grand Sydney is situated in one of most popular area of the Sydney. Most people choose Australia as their holiday destination for living in Sydney. It has prosperous ethnic groups, excellent infrastructure, superb consumer choices and solid local and international corporate activities. Sydney today claims as Australias most leading Central Business District and most national and multinational industries chose to have their head office in Sydney which attracts lots of business travellers. Sydney is perfect city for beach lovers, Bondi and Manly are the most famous beaches in Sydney. (Visitors Guide and Information ) Most attractive and uncrowned beaches are found on north and south of the Sydney. Hotel Medina gives beautiful view of the city. Because of hotel is situated in centre of the city its excellent opportunity for all the travellers for shopping with family and friends All kind of accommodation options are available at the  Medina Grand Sydney hotel  have been designed to create comfort and an atmosphere. Hotel is only 5 minutes away from Cockle bay, movie theatres at door, Entertainment Centre and China Town just 10 minutes walking distance (Attraction Around Sydney , 2012). Hotel has big conference hall. Hotel apartments provide the perfect venue for residential training courses. In relations of Psychographic above products are available which target domestic and international business travellers and holiday travellers including honeymooners and families. Potential Markets After analysing the above data and statistics specified in this paper about tourist market and segmentation, we can define about prospective target markets of Media grand Sydney. International and Domestic Business Tourist Consumers who are finding gorgeous places with advance level of service and sufficient comforts. This segment is proposed for tourists happy to pay quality prices for outstanding accommodations and service. Most present in main cities across the globe and located in historical areas. As we mention in the first section there are number of occupational deals happens in Sydney as city well-known for the centre of business activities in Australia. Therefore basically there are number of corporate people comes in the city. (Business Award 2012). Basically these business travellers seeks unique services and product with new trend of technology which offered by the Medina grand Sydney. As we know, being one of the best brands, Medina provides unique standard business services and product to the corporate travellers. This gives them chance of unique experience of accommodation as well as relaxing and peaceful environment from their busy work schedule. In adding to this, Medina grand has coll aboration with reputed travel agencies which helps hotel to targeted business travellers. The report of Sydney Tourism reflects tourists from New Zealand, USA, Europe and Asia visiting to Sydney are improved by 26% recently. (Sydney Tourism News, 2011) Besides, most business people from New Zealand and Asia visit to business capital of Australia for the professional purpose. Medina Grand Sydney can offer following services and products to their international and domestic business markets: Resident Manager 24 hour reception Resident Manager Covered heated swimming pool Mini bar Gymnasium Undercover parking Dry cleaning and laundry services Sauna In-room Massage available through Reception Dry cleaning and laundry services Babysitting available Pantry services Cuisine Courier Undercover parking (Hotel Facilities ) Leisure Tourist Currently, its cost-effective for Medina Grand to target the business tourists. This segment was affected by worse transactions in weak economy situations but indicates signs of recovery. Business travellers are generally at senior level management positions in their company. Even if they are not searching for the traditional feature of the city but they expect a suitable place. They are knowledgeable about the current market news and communicate minimum two languages. Maximum corporate travellers busy in hectic life and travel alone, so they need some peaceful atmosphere which they expect from Medina Grand Sydney. Medina Grand has also established superior offers such as SPA (Home Away From Home, 2012). These targets are senior citizen couples who expect a high class service; honeymooners and somebody celebrating a special event. Sydney is a one of the major city in Australia. Medina Grand hotel is situated in the centre of the city and you can call it heart of the city which is nea r from all the attractive places in Sydney. Medina grand hotel is close to Sydney Town Hall, Darling Harbour. Area of attraction also includes Opera House in Sydney and Chinese Garden of Friendship. Medina Grand Sydney deals quality accommodation in one of the most entertainment district, Darling Harbour. Travellers looking for the perfect luxury and advance facilities will definitely like this hotel. Some famous historical attractions such as Sydney Aquarium and Australian National Maritime Museum are situated at a walking distance from the hotel. Famous charming commercials of the city, such as IMAX Theatre and Star City Casino are at a stones throw away. Diverse types of native animals can be spotted at the adjacent Sydney. Great location to allow a nice short walk to Market Street where all the great shopping can be done, China Town, and not too far to walk to The Rocks and Circular Quay. (Best Attractions) The hotel basically tries to attract stylish tourist by providing them g lamorous product and superior facilities. Hotel also concentrates on local tourist market segment who looking for interesting experience. Corporate travellers usually prefer luxury accommodation where they can appreciate speciality food with excellent value of service. Hotel Medina Grand can deliver following facilities: Deluxe Rooms and honeymoon suites Hot water pools Multi-cuisine Restaurants Health spa Sauna Gymnasium centre (Holidays) New Market and Strategic Approach Research study shows that it is possible for Tourism Australia to attract new target potential market. They can attract more number of leisure and business travellers from Asia. (Basically concentrate on India, China and South Korea). According to studies it is analyse that new target market should be beneficial for tourism Australia. (Marketing in Asia , 2012)From last two years more number of tourist coming from China. Tourist from China saw surprising development in Sydney, with rapid increase of visitors. However Sydney saw additional tourists from Korea and India by two per cent. Hence Medina Grand has chance to examine and attention Asian target market. Because of language difference, cultural differences between the countries, time consuming travel its very hard to find profit. Tourism Australia already spend heaps of money on marketing the destination in new target market and collaborate with travel agents to attract more travellers. To take over on this new market Medina Gra nd changes their policies and strategies for this market for e.g. presenting Chinese cuisine, multicultural cuisine in fine dining restaurants which open more choices for Asian customer. The most of the Asian Tourist make their booking through tour operator and most of the people book the air ticket through internet. Link up with more and more tour operators and arranging regional events for tour operator in every area must beneficial for Tourism Australia. Advertisement through social networking sites like Facebook and twitter also helpful for positive marketing of the destination and hotel. Target Market Process Making concern of above data, Medina Grand implements its own target market procedure. It supports them to recognise the customer activities and their needs and demand. Medina Grand Sydney Target Market Process The hotel Medina grand is in mid-maturity stage of product life cycle. To develop method of sustainability is essential at this phase to survive in competitive environment. Hence Medina Grand gives attention on retaining its competitive environment. Hotel sells unique product like health spa centre which is open all days of the week to target corporate and holiday travellers. Promotional Strategies Promotion: The hotel Medina Grand provides exotic facilities to attract high class traveller. They advertise themselves in world travel magazine, traveller guide, yellow pages, star hotel magazines which helps to build brand image of the hotel. Medina Grand also publicise their property through online medium and social networking sites. They have linked up with hotel website to promote themselves. Hotel also has review system for their hotel so that the traveller search online for booking and get to know the actual quality of standard through experiences of other travellers. Also local newspapers, TV channels, radio stations plays important role to invite domestic tourist. This type of marketing affects consumer behaviour and help in growth strategy of the hotel. Delivery Strategy Hotel Medina grant has excellent online reservation system. Hotel has tie up with many international airlines that already declared in previous description of this paper. To sum up they also have collaboration with tour operators, they have special training programme for tour operator. In that programme they first offer free facilities of hotel to the operator and at the same time they teach them about uniqueness of the destination and hotel by giving attractive offers and knowing them key points about destinations and events. Free holiday vouchers are provided for selling particular amount of rooms, commission is also delivered on every room. Marketing department always in touch with distributor by conferencing and mailing to know about new trends in market and current condition in the market. Marketing department has annually meeting with distributors in every regional area to maintain relationship with the distributors.G:DocumentsPIHMSTourism assignmentdistribution.jpgSupply Struc ture in Sydney Consumer Profiles: Worldwide corporate Travellers Age Most of corporate travellers visiting to Sydney are aged among 28 to 50 years, while some travellers are among 50 to 65 years. Average visitors stay -Avg. stay per guest is 3 nights. Ethnicity- European, New Zealander, Asian, American Annual Income per year- Around $40,000 $50,000 Necessities- Presentation hall and Board meeting rooms, Wi-Fi services Participation- Majority of tourists selects to lunch and dinner at speciality restaurants. Some tourist visit to night club, surfing, whale watching, shopping Local corporate Travellers Age- Most of the corporate travellers age among 30 to 50 years, while some are among 50-63 years. Average visitors stay- Avg. shay per guest is 2.5 nights. Origin Business cities in Australia. Annual income per year: Around $40,000 $45,000 Participation- Around 50% of traveller lunch and dinner in dine dining restaurant. Some tourist visit to cinema, visiting families, networks and waterparks, etc. High Class Stylish Travellers Age- 25 35 years. Sexual category: 60% of male and 40% of female visitors. Category: higher class charters, head of departments, managers, air crew. Average visitors stay: 4-5 days Purpose of travel: Presentation, Seminars, Business meeting, Conference and events Yearly Income: More than $50,000 Participation: Massage parlour, casino, wine testing and visiting famous places. Proposed Strategies Product Strategy Medina Grand is one of the finest 4 star hotels in Sydney; functioning in a saturated market, they cannot imagine to rise their income by growing the number of guests. Additionally, the treats of the market are out of control and presently restricted by the professional target choice. Hence, Medina Grand must attention on growing expenses per night and per person by developed outstanding services and preserving its occupancy rate despite the tough struggle and great choice of substitute product. To maintain standard of the hotel have facilities like family rooms, special premier studio room, cribs available, climate control and mini bar as matched to the competitors. (Medina Grand hotel, 2012) The prices of the hotel are always competitive and special discount for group booking and repeat business. Hotel provides pick and drop facility from airport, car facility for nearby attractions which is good advantage for guests of Medina grand hotel. The hotel is situated in main area of Sydn ey and marketing of such facility certainly attract more number of tourist in their hotel. Multi-cuisine restaurant of the hotel is open in all days of week which offers excellent opportunity for tourist visiting the destination from different countries. Therefore they can relax themselves before settle down in the hotel room. The corporate travellers who came for business deals can discuss their business deals in restaurant without taking the visitors to their rooms. Thus, it will be convenient for guest if hotel restaurant is open for all night during all days of the week. Market Positioning Strategy Currently, Medina Grand is positioned as one of the luxuries hotel situated in impressive area of Sydney. Number of increasing competitor in market, comparable positioning wants Medina Grand to redefine themself in front of targeted consumer. They can do it in couple of ways. Mainly Medina Grand could attract more number of leisure travellers. In addition Medina Grand could select business travellers but who are looking for luxury. Luxury positioning must be profitable. But for luxury positioning guest will expect superior quality. This is way they will spend more. In conclusion we can say Medina Grand must be most appropriate property for international corporate tourists. When travellers from new region and different culture grow rapidly its difficult to apply old strategy and policies to understand their needs. Prepare for new plans is better idea to take advantage of such competitive market. Research shows Asian market is future potential market. Thus Medina Grand know requirement of Asian corporate sector and holiday market to maintain sustainability of the industry. Marketing Mix Strategy The four Ps of marketing mix to attract travellers from Asian country because they are least affect by economic slowdown, Medina Grand Sydney has to make special marketing strategy which is mentioned below: Product: They are changing their policies and strategy to concentration on new target market and new ethnic group. Hotel will have to improve certain modifications to their foods and amenities by seeing needs of Asian Travellers. For e.g. Presenting Chinese and Indian cuisine in the speciality restaurant. To satisfy need of satisfaction Medina Grand can start improvement in their accommodation. Its important for corporate traveller to sleep well to maintain busy schedule of next day. Medina Grand can renovate their bed with advance comfort facilities. Hotel can improve fitness services features by adding new machinery and equipment in fitness centre. Tie up with local corporate companies by giving discount help to increase revenue of the company. So the non-staying guest can use the facilities, thus will raise IHS business. Medina grand has to develop the facilities of fun. Train the staff by taking care of cultural values of country of origin of the guest. This kind of service they will remember for long time and help in repeat business. For example, Medina grand appointing employee from Asia so that Asian travellers can feel the hotel as home away from home. Advertising: Tourism Australia is currently in a situation to increase its advertising activities. The Medina Grand have to part in Press Release. Descent articles in popular newspapers which follows by corporate people. Invite press people on special events in the hotel. Participate in social awareness events. Publicise some admired magazines help to build the image of the hotel particularly when its person who reads are corporate people. Conclusion: Market strategy: Domestic and international corporate travellers are our principle target market. Also need to growth our attention on countries like USA, UK, New Zealand, India, and China etc. which are our main source of income. Its better ignore the countries which are very challenging to make target so that can get more time to concentrate on main target market. Marketing mix strategy: Medina Grand have to advertise powerfully local travel journals in China and India. 56 % of International Corporate tourists to Australia reached at Sydney International Airport with 40% of them coming from Asian nations. t. Asia market has the potential to provide good profits for the business. Price: Medina Grand has higher room rates compare to other star properties in the market. According to strategy, increase in room rate can affect the business of the Medina Grand. By providing extra facilities hotel can increase the rate. Place: It is important to advertise the hotel Medina grand on websites of airlines and tour operators. Application of search engine promotion policy is also significant, as most of internet sites visits arise through search engines. Hotel online bookings must be improved by application of this strategy.

The Relaxation Factor of Spas Essay -- Descriptive Spa Spas Relaxing E

The Relaxation Factor of Spas Most people get a look of relaxation on their face when someone says the word, spa. The imagery of mud baths, facials, manicures, pedicures, and massages triggers a feeling of complete relaxation. Many different types of people visit spas. A writer for About.com, Julie Register, explains the different types of people who visit spas. She says, â€Å"people like a traveler that has jet lag, a mother who would like to break away from her children for awhile, or even a person who is experiencing acne, visit spas† (Register). While looking for the origin of the word â€Å"spa,† I found on the internet that there are many possible origins. Julie Register from About.com says a possible origin is from the Latin word â€Å"Espa,† meaning to bubble up, or â€Å"Sanus Per Aquam† meaning health by or through water (Register). I was curious as to how spas had originally begun. While engulfing my mind into information I found on the internet, I found two distinct ways that spas had begun. Register also explains this to me. She says that as early as five hundred BC, Homer and other Greek writers say that Greeks favored a variety of baths. This included water baths and air baths (Register). Almost all of us are familiar with water baths. Water baths are the same thing as what we call the average â€Å"baths.† During one of these â€Å"water baths,† the person receiving the treatment has their body submerged in water with a temperature of their liking. However, I was not familiar with what an air bath was. While continuing to research, on the internet, I found that air baths are what we call saunas, today. Air baths are somewhat related to a water bath, except there is no water. In air baths, the receiver of the bath is ... ...ated in different countries and cultures, but past societies all had the same idea – relaxation by water. Today the spa business has boomed, but all spas focus on one thing – water. I have gone to many different spas and have experienced this first hand. Spas provide something for everyone. Works Cited Brown, Anita. â€Å"What Does a Spa Do?† About.com. 18 Oct. 2004 . â€Å"What is a Spa, Anyway?† About.com. 18 Oct.2004 . Foley, Jo. â€Å"Spas: A Brief History Two Centuries of Relaxation.† Hilary Spa & Beauty. 18 Oct. 2004 . Personal Survey. 18 Oct. 2004. Register, Julie. â€Å"Spa Evolution, A Brief History of Spas.† About.com. 18 Oct. 2004 .

Postpartum Stress Disorder Essay

The postpartum period has been defined as â€Å"a bringing forth of the period following childbirth† (Webster, 1988, p. 1055) or â€Å"occurring after childbirth or after delivery, with reference to the mother† (Doriand, 1988, p. 1343). In nursing or medical textbooks, the postpartum period is defined as â€Å"the 6-week interval between the birth of the newborn and the return of the reproductive organs to their normal non-pregnant state† (Wong & Perry, 1998, p. 480). However, Tulman and Fawcett’s (1991) found that the recovery of postpartum women’s functional status from childbirth takes at least 3 to 6 months. Webster’s Dictionary defines stress concretely as a â€Å"physical, mental, or emotional strain that disturbs one’s normal bodily functions† (Webster, 1997, p. 735). Stress is produced by stressors. Wheaton (1996) defines stressors as â€Å"conditions of threat, demands, or structural constraints that, by the very fact of their occurrence or existence, call into question the operating integrity of the organism† (p. 2). In addition, four characteristics of stressors are described: (1) threats, demands, or structural constraints; (2) a force challenging the integrity of the organism; (3) a â€Å"problem† that requires resolution; and, (4) â€Å"identity relevant† in threats in which the pressure exerted by the stressor, in part, derives its power from its potential to threaten or alter identities. Further, awareness of the damage potential of a stressor is not a necessary condition for that stressor having negative consequences; and a stressor can be defined bidirectional ly with respect to demand characteristics. That is, it is possible for both over-demand and under-demand to be stress problems (Wheaton, 1996). Accordingly, based on the above definitions of the postpartum period, stress, and stressors, postpartum stress is defined as a constraining force produced by postpartum stressors. Postpartum stressors are defined as conditions of change, demand, or structural constraint that, by the very fact of their occurrence or existence within six weeks after delivery, call into question the operating integrity of body changes, maternal role attainment, and social support. Due to its many adjustments, the postpartum period has been conceptualized as a time of vulnerability to stress for childbearing women (Too, 1997). Postpartum Period The postpartum period has been conceptualized by a variety of cultures as a time of vulnerability to stress for women (Hung and Chung, 2001). It is characterized by dramatic changes and requires mandatory adjustments that involve many difficulties and concerns, possibly leading to new demands, or structural constraints and, therefore, stress. All mothers face the multiple demands of adjusting to changes in the body, learning about the new infant, and getting support from significant others. For women going through this transition, it may be a uniquely stressful life experience. Several stressors specific to the puerperium as it exists in the literature have been identified. Those pertaining to body changes include: pain/discomfort, rest/sleep disturbances, diet, nutrition, physical restrictions, weight gain, return to prepregnancy physical shape, care of wounds, contraception, resuming sexual intercourse, discomfort of stitches, breast care, breast soreness, hemorrhoids, flabby subcutaneous tissue, and striae. Stressors pertaining to maternal role attainment include: concerns about infant crying, health, development, bathing, clothing, handling, diapering, night-time feeding, breastfeeding, conflicting expert advice, keeping the baby in an environment with a comfortable temperature, bottle feeding, appearance, safety, elimination, body weight, skin, baby’s sex, breathing, spitting up, sleeping, and cord care (Moran et al. , 1997; Too, 1997). Finally, those stressors pertaining to social support include: running the household, finances, perception of received emotional support, giving up work, finding time for personal interests and hobbies, father’s role with the baby, relationship with the husband, restriction of social life, relationship with children, and coordinating the demands of husband, housework, and children (Moran et al. , 1997). In addition, Hung and Chung (2001) shows that after childbirth women will encounter another type of stress during the postpartum period, which is characterized by dramatic changes and requires adjustment. Conditions of change, demand, or structural constraint may occur during these dramatic changes, creating many difficulties or concerns. Therefore, in addition to general stress, postpartum stress is induced after delivery during the postpartum period. Postpartum Stress Disorder Postpartum Stress Disorder (PSD) is the most serious, least common, and most highly publicized of the postpartum mood disorders: mothers with PSD have killed their infants and themselves. It is on the extreme end of the postpartum continuum of mood disorders (Nonacs, 2005) and attention to symptoms is vital for any postpartum support program. The treatment issues will not be fully discussed here because of their specialty and complexity. However, it remains a primary function of the service delivery to recognize symptoms and refer appropriately for specialized psychiatric care and management. A sensitive, direct question such as, â€Å"Some women who have a new baby have thoughts such as wishing the baby were dead or about harming the baby; has this happened to you? (Wisner, et al. , 2003, p. 44), is an essential element of postpartum evaluation and Wisner and colleagues (2003) have suggested that this question be asked of all postpartum women. PSD is a rare, severe disorder with a prevalence of one to two cases per one thousand births (Seyfried & Marcus, 2003). Symptoms are abrupt and often occur within 48 hours of delivery but can be delayed as long as two years (Rosenberg, et al, 2003). Typically, however, symptoms occur within the first three weeks, and two thirds appear within the first two weeks postpartum (Chaudron & Pies, 2003). Symptoms include mood lability, distractibility, insomnia, abnormal or obsessive thoughts, impairment in functioning, delusions, hallucinations, feelings of guilt, bizarre behavior, feelings of persecution, jealousy, grandiosity, suicidal and homicidal ideation, self-neglect, and cognitive disorganization (Wisner et al. , 2003). Women with PSD who harbor thoughts of harming their infant are more likely to act on those thoughts (Wisner et al. , 2003). Because of the severity of the illness and significant concern for the safety of both the infant and the mother, PSD is considered a psychiatric emergency and hospitalization is necessary. Etiology of PSD There has been some debate about the etiology of PSD. As noted previously, the incidence is approximately one or two women per one thousand births. This rate has remained unchanged for that last 150 years (Wisner et al. , 2003). In cross-cultural studies the rates for PSD are similar to those reported in the United States and the United Kingdom. These findings suggest a primary etiologic relationship between PSD and childbirth, rather than psychosocial factors (Wisner et al. , 2003). O’Hara (1997) has noted that women are 20 to 30 times more likely to be hospitalized for PSD within thirty days after childbirth than at any other time during the life span, leading him to speculate, with little doubt, that for women there is a specific association between childbirth and PSD. There are subgroups of women who may be more likely to develop stressful symptoms after delivery. Primaparas appear to have a higher risk for c than multiparous women (Wisner et al. , 2003). This may be the result of an undiagnosed bipolar disorder. Women with a history of bipolar disorder or PSD have a 1 in 5 risk of hospitalization following childbirth (Seyfried & Marcus, 2003). The overall pattern of symptoms described as PSD suggests the illness is on a continuum of bipolar mood disorders (Wisner et al. , 2003). The clinical presentation of PSD is often very similar to a manic episode (Seyfried & Marcus, 2003). Affective disturbances may be depressive, manic, or mixed (Chaudron & Pies, 2003). While there is no typical presentation, women often display delusions, hallucinations, and/or disorganized behavior. Delusional behavior often revolves around infants and children, and these women must be carefully assessed because thoughts of harming their children are sometimes acted upon (Chaudron & Pies, 2003). The predominant affective symptom in those postpartum women who commit infanticide, filicide, or suicide is depression rather than mania (Chaudron & Pies, 2003). In reviewing the connection between bipolarity and PSD several studies have shown evidence for a link in four areas: symptom presentation, diagnostic outcomes, family history, and recurrences in women with bipolar disorder (Chaudron & Pies, 2003). The relationship to bipolar disorder is considered quite persuasive and it has been suggested that acute onset PPP be considered bipolar disorder until proven otherwise (Wisner et al. , 2003). However bipolarity does not account for all cases of PSD and a meticulous differential diagnosis is mandatory for those women with presenting stress symptoms. A careful checking of the patient’s history for previous manic or hypomanic episodes as well as any family history of bipolar disorder is important in order to rule out bipolar disorder. Organic causes contributing to first onset PSD need to be examined and ruled out. These include: tumors, sequelae to head injury, central nervous system infections, cerebral embolism, psychomotor seizures, hepatic disturbance, electrolyte imbalances, diabetic conditions, anoxia, and toxic exposures (Seyfried & Marcus, 2003). Of special consideration in postpartum women is thyroiditis. This is relatively common in postpartum women and usually begins with a hyperthyroid phase progressing to hypothyroidism. In either phase PSD can occur (Wisner et al. , 2003). Obtaining serum calcium levels is important to rule out hypercalcemia for patients displaying PSD symptoms (Wisner et al. , 2003). Sleep loss resulting from the interaction of various causes may be a pathway to the development of PSD in susceptible women (Wisner et al. , 2003). The later stages of pregnancy and the early postpartum period are associated with high levels of sleep disturbance. This seems to be more prevalent in primiparous women than in multiparae. Historical and contemporary studies have noted that insomnia and sleep loss are significant and early symptoms of PSD. The rapid and abrupt changes of gonadal steroids after delivery and the evidence that estrogen has an effect on mood and the sleep-wake cycle (Wisner et al. , 2003) suggest an interaction between hormonal fluctuations, sleep loss, and the onset of PSD. Treatment of PSD PSD is a severe illness and should be considered a psychiatric emergency requiring hospitalization (Rosenberg et al. , 2003). The stigma attached to mental illness and especially to mothers who may harm their infants and themselves, often prevents women and their families from seeking help. PSD is often marked with periods of lucidity that can fool those close to the mother and health care professionals. Because of the complexity of the diagnosis and treatment, referral to a psychiatric specialist is required and formal treatment is beyond the scope of this program. However, it will be necessary to recognize symptoms and be cognizant of risk factors, such as history of bipolar disorder or previous PSD. Such awareness is essential, as is the readiness to offer support until adequate services can be implemented (Wisner et al. , 2003). Prevention of PSD is unclear, but early identification of a history of bipolar disorder and/or previous PSD would be an element of a comprehensive postpartum program. Prenatal education describing symptoms is an important aspect of a proactive approach to postpartum care. Part of the prenatal and postpartum educational effort will include urging women to share any bizarre thoughts and fears with their health care professionals and families. New mothers experiencing insomnia will be encouraged to seek assistance from their physicians and to engage other family members to care for the infant during nighttime feedings (Wisner et al. , 2003). As noted earlier, specific treatment is beyond the scope of this program, but a proactive approach to early identification and recognition of unusual thoughts, feelings, and experiences may help to initiate treatment and avoidance of tragic results. Conclusion During the postpartum period, women are immersed in the realities of parenting and coping with balancing their multiple roles (e. g. , wife, mother, and career woman). However, women frequently report difficulty in adjusting to the needs of the baby and other children, difficulty with housework and routines, concerns over support to cope with family needs, and concerns over weight gain and body changes. Accordingly, postpartum stress has an important role in a woman’s life and influences her health status, both physical and mental.

Qualities of a Good Book Essay

Personally, I think the qualities of a good book are many, and diverse. To be good, I think a book should relate to life experiences, give the audience something they can relate to and empathize with, to help them learn something that will help them in their life. Yet, the book should do this in such a way that not only does it act as a window into the human world, yet also offer escapism. It should have a character that the readers can identify with, in a way that they imagine what it is like to be the character themselves. Though, the character should be normal enough to identify with, yet special enough to go on adventures (in fictional books) and unique in their own ways. Another factor that comes into play in the qualities of a good book is the fact that it should captivate the reader; should be wholly absorbing and keep the readers not only reading the first few pages but reading till the very end. I myself have left many books through the middle, seeing as they had lost my interest. A good book should have a very unique original plot and story line. The readers should be able to enjoy what they are reading; and to do that the story must be original, since I (and presumably many others) find no pleasure in reading books with similar or identical plots of situations. Not only that, but the plot must have twists and tensions to make the book more appealing to the human minds analyzing it. A good plot never comes without tensions in my point of view- it should be a whole package. The book should keep the readers on edge, reading and turning page after page wanting to know what will happen next. That, for me, is the post important quality a book should have. It is quite easy to get the interest of many people into reading a book, but to have the readers finish it anxiously till the very last page is something that takes skill, talent and quality, and not all have those critical traits. Thus, tensions to say the least, are a must, since the book should give you something to think about. A good book is unpredictable. What’s the point in reading a book where one can easily predict the ending, or the future events that were to happen? The book should keep your mind flooded with options, keep the reader pondering, yet at the same time throw the reader completely off guard when the time comes. It should be exciting, surprising, flabbergasting and memorable; the reader should absentmindedly be able to causally cross a situation and remember and think of the book. A great book is inexhaustible, so no reading of it is a final reading, and no discussion ever runs it dry. You can never say you’re done with it except in a provisional sense. If you take a break and come back to it, you’ll find more in it. Good grammar and style are also very important- A great book is well crafted. For me, I like to read the best which has been thought and said. For us, the two have to go together. It needs to be clear and straight to the point- the reader must understand it with undying clarity. What if somebody had a great idea but wrote about it badly? We need to be able to lean on every sentence, and not have it suddenly give way and crumble beneath the weight of our analysis. The style is also important, as well as the meaning behind the words. I should be clear, yet with a twinge of mysterious in it, yet not confuse and baffle the reader with bad grammar or sequencing. â€Å"Well, he said this, but maybe he meant something else. † Last but not least, I think a good book should always have romance and drama. If not, even a little romantic twist always fills in the empty gaps, don’t you think?

Perceiving the Grecian Urn Essay

Perceiving the Grecian Urn Essay Perceiving the Grecian Urn Essay Perceiving the Grecian Urn In the first stanza, we have a person observing the old Grecian urn, thinking about the urn, trying to figure out its depiction of pictures frozen in time. It is the "still unravish'd bride of quietness," the "foster-child of silence and slow time." He also describes the urn as a "historian," which can tell a story. While wondering about the figures on the side of the urn, he asks what legend they depict, and where they are from. He looks at a picture that seems to display a group of men pursuing a group of women, and wonders what their story could be: "What mad pursuit? What struggle to escape? What pipes and timbrels? What wild ecstasy?" In the second stanza, the speaker looks at another picture on the urn, this time of a young man playing a pipe, lying with his lover under some trees. The observer of the urn says, that the piper's "unheard" melody's are sweeter than mortal melodies, because they are unchanging over time. He tells the youth that, althoug h he can never kiss his lover because he is frozen in time, he should not grieve, because her beauty will never fade. In the third stanza, he looks at the trees surrounding the lovers and feels happy that they will never shed their leaves; he is happy for the piper because his songs will be "for ever new" and happy that the love of the boy and the girl will have an enduring love, unlike mortal love. " All breathing human passion far above, That leaves a heart high-sorrowful and cloyed, A burning forehead, and a parching toungue", descibes that mortal love will give you a high for only a short time and then leave you " A burning forehead, and a parching toungue." In the fourth stanza, he continues to take notice of another picture of a cow being led away to be sacrificed. He wonders "what green altar" the preist is taking the sacrifice to. The speaker is imagining the altar to be green; the green altar could mean that it is highly decorated for the sacrifice, or that there are rarely any sacrifices on it, so it has grown up with vegitation. He starts to think of a town (although none is shown in the picture) where the people are coming from and comes up with a peaceful mountianside town. In ending the discription of his made-up town, he states that, "And, little town, thy steets for evermore Will silent be; and

Understanding the MBA Degree

Understanding the MBA Degree The MBA (Master of Business Administration) is a postgraduate degree that is awarded to students who have mastered the study of business. This degree option is available to students who have already earned a bachelors degree. In some cases, students who earn a masters degree return to school to earn an MBA, though this is less common.   The MBA degree is widely believed to be one of the most prestigious and sought-after degrees in the world. Students of MBA programs study the theory and application of business and management principles. This type of study equips students with knowledge that can be applied to a variety of real-world business industries and situations.​ Types of MBA Degrees MBA degrees are often split into different categories. For example, there are full-time MBA degree programs (which require full-time study) and part-time MBA programs (which require part-time study). Part-time MBA programs are sometimes known as Evening or Weekend MBA programs because classes are typically held on weekday evening or weekends. Programs like this allow students to continue working while they earn their degree. This type of program is often ideal for students who are receiving tuition reimbursement from an employer.   There are also different types of MBA degrees. For example, there is the traditional two-year MBA program. Theres also an accelerated MBA program, which takes just one year to complete. A third option is an executive MBA program, which is designed for current business executives.   Reasons to Get an MBA The main reason to get an MBA degree is to increase your salary potential and advance your career. Because graduates who hold an MBA degree are eligible for jobs that would not be offered to those who hold only a college degree or high school diploma, an MBA degree is almost a necessity in today’s business world. In most cases, an MBA degree is required for executive and senior management positions. Some companies will not even consider applicants unless they have an MBA degree. People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them. What You Can Do With an MBA Degree Many MBA programs offer education in general management along with a more specialized curriculum. Because this type of education is relevant to all industries and sectors, it will be valuable regardless of the career that is chosen after graduation. Learn more about jobs for MBA grads.   MBA Concentrations When it comes to the MBA degree, many different disciplines can be pursued and combined. The options shown below are some of the most common MBA concentrations/degrees: AccountingBusiness ManagementE-Business/E-CommerceEconomicsEntrepreneurshipFinanceGlobal ManagementHuman Resources ManagementInformation SystemsMarketingOperations ManagementStrategic/Risk ManagementTechnology Management Where You Can Get an MBA Degree Much like a law school or medical school education, the academic content of a business school education does not vary much between programs. However, experts will tell you that the value of your MBA degree is often directly related to the prestige of the school which grants it. MBA Rankings Every year MBA schools receive rankings from various organizations and publications. These ranking are determined by a variety of factors and can be very useful when choosing a business school or MBA program. Here are some of the top-ranked business schools for MBA students: Best U.S. Business Schools: A ranking of the best business schools located in the U.S.Best Canadian Business Schools: A list of the business schools in Canada.Best Part-Time MBA Programs: A ranking of the best part-time MBA degree programs. The Cost of an MBA Degree Cost Getting an MBA degree is expensive. In some cases, the cost of an MBA degree is four times as much as the average yearly salary earned by recent MBA graduates. Tuition costs will vary depending on the school and the program that you choose. Luckily, financial aid is available to MBA students.   Nowadays, there are many different options for potential MBA candidates, but before making a decision, you should evaluate each one before settling on the MBA degree program that’s right for you.

100 Amazing Topics for Your Strong Persuasive Essay

100 Amazing Topics for Your Strong Persuasive Essay 100 Great Topics for Your Persuasive Essay Often students are given the topic before starting their assignment. If you ask average scholars what they think about choosing a topic on their own, they would probably say that it’s associated with additional problems. In fact, choosing a topic on your own can be a great advantage if you have a correct understanding of how to do it right. If your teacher gives you a chance to decide on a topic independently, you can pick up the theme that is interesting and familiar to you. Moreover, you can check if there are enough free and available information sources for writing an essay before making your final choice. If you are given a task to write a persuasive essay and to choose its topic on your own, use this opportunity. It’s only enough to spend around 10-20 minutes to learn how to choose the topic correctly and our article is aimed at helping you with this. Why Students Write Argumentative Essays Instead of Persuasive Essays Before giving you a list of topics, we want to speak about the difference between argumentative and persuasive essays. The problem is that many students can’t tell these two types of essays apart and make a huge mistake writing an argumentative essay instead of the assigned persuasive paper. Both types have quite similar aims and it’s not easy to understand how they differ. We’ve found a definition that will make you see the features of the different types easier: Argumentative essay shows your point of view on a problem or a subject. Explaining something, you tell the reader that there are also other possible ideas about the topic, however, you choose the one you speak about due to some reasons. You explain your idea but you allow your reader to think differently and to decide whether to support your point of view or not. Persuasive essay also speaks about your point of view on a certain topic. However, this time you use the facts and statements to prove that your point of view is the correct one, the most practical or ethical one. Step by step, you have to show that different points of view are less logical. Your final aim is to make a reader support your idea. Understanding the difference between the two types, you can also see a clearer and more correct way of picking up a topic for your persuasive essay. 100 Topics for Your Excellent Persuasive Essay Working with the list of topics, you can choose a ready topic and start to work on it or to take it as an inspiring sample and to create a similar theme for your future essay. Topics for Elementary Scholars Is it allowed to have a wild-born animal as a pet? Is it better to be the only child or to grow up in a big family? If you found a home of a rare animal on your yard, would you give it to the laboratory or to the local zoo? Is having a superpower making you a better person? The best holiday of the year is Birthday/Christmas/New Year’s Eve. If the invisible potion is discovered, shall it be given to people unrestrictedly? A shop assistant/waiter/bus driver is the worst job in the world. Shall parents encourage their children to choose school/friends/bedroom decor independently? Shall we stay friendly with everyone? Shall having an expensive gadget influence the way others see us? Topics for High School Scholars Will the return of the death penalty scare criminals from committing a crime? Is it safe to allow people to change their names any time they want? Shall we pay attention at moral and personal qualities of a president? Is younger generation better adapted for positive changes in the world? Can fashion be harmful to society? Shall reach people pay extra taxes to help those who are poor? Is lowering the voting age is a good idea? How to reduce the level of crimes among high schools students? Shall privacy be violated for national security? Topics Connected to Education Existing disciplinary means are outdated to control modern teens. The modern way of holding exams and academic tests may be harmful to the development of creativity and critical thinking? Shall IT students be encouraged to create their own entertaining applications and video games? How to provide an equally high level of education for children in big cities and rural areas? Shall children with different types of disabilities study in separate classes? What is the most effective way to stop bullying among kids? Is it necessary to have a special uniform for teachers? Shall physical training lessons be held by professional sportsmen? Which measures can be taken to motivate students with lower marks? Can video games encourage students to use guns at school? Topics Connected to Technology and Scientific Progress How environmental protection can be improved on a local level? Can robots with artificial intellect replace humans completely? Shall fuel be replaced with alternative sources of energy? Is global warming a natural process that doesn’t depend on the activity of humans? What is the alternative for genetically modified food? Is terrorism the most common reason for the modern plane crash? The role of the human in the extinction of rare animals and plants. Is it ethical to restrict a number of children in a family in order to control the growth of the population? How soft drugs can be used in medicine? The ethical side of cloning animals. Topics Connected to Nature Are zoos helpful for protection of rare species of animals? Can hunting be ethical? London Zoo is one of the largest and the best zoos on a planet: do animals feel good there? Is there’s any reason to keep exotic animals as domestic pets? What is the best and most effective way to train domestic animals? Is it ok to breed different animals in order to create new species? Vegetarianism can’t be helpful for the animal world and nature. Is it immoral to wear natural leather? Is there a point of trying to return extinct animals like a mammoth? Why governmental method of nature protection can’t stop poaching? Topics Connected to Music and Arts How pirating music influences the economy of a country. Can fame of a music band or a singer bring more opportunities for development of the country they originate from? Some music types have almost no differences: why shall they be separated into different types? Can music be used in the process of rehabilitation of criminals and prisoners? Will decreasing the price of music apps and albums lead to decreasing pirating? Will ancient Chinese music be indicated as a different type of art? Will the kind of music for rehabilitation be chosen individually? How historical songs help us to understand certain moments of history? Can technologies replace artists and musicians? Music as a part of therapy for curing mental disorders. Topics Connected to Sports Shall the animal sport be banned? Is it ethical to advertise junk food, alcohol or cigarettes during sports events? Shall popular sportsmen control their behavior being a role model for teenagers? Is the popularity of extreme sports can be a dangerous trend? Shall the bullfighting be banned, even being a part of Spanish culture and an old tradition? Are genetics and an inborn talent more important than the hard work in reaching great results in sport? Is there point of creating sports teams that may include both male and female players? Shall different types of sports be separated into female and male sports? Shall sportsmen work not only with a coach but also with a psychologist to avoid serious depression and to achieve better results? Is it necessary to make anti-doping control more severe? Complicated Topics for Persuasive Essays Are those features of people that are called ‘negative’ natural and coincide with the inborn instincts? What shall be the main aim of sexual education at school? Which measures can be taken to make oil producers be more attentive to oil spills? Shall other countries answer the new US policy that may violate the rights of national minorities? Is the legislation that controls selling of guns effective? Is free internet real harm to the moral norms of society? Which changes are necessary to make the copyright laws more effective? Shall teenagers be given more legal rights like voting, buying alcohol, dealing with banks and businesses? How would the opening of borders influence the world’s economy? How the world would be different now in the case if the German army could win the Second World War? Topics Connected to Ethics and Morality How to make animal testing less unethical in a case it can’t be banned? Shall people be given a legal right to die or to suicide? How kids’ beauty contest can influence the development of psychological disorders among young children? Which conditions are necessary to make euthanasia not illegal? How can governments of developed countries stop using child labor in other countries? Is atheism dangerous for moral norms? How to reduce the number of unnecessary plastic operations that may harm one’s health? Shall college students be allowed to buy alcohol drinks? Shall college students be involved in voluntary work that is connected to their future profession? What can be an alternative way of controlling the number of illegal immigrants? Do cameras in public places help to reduce the number of crimes? Universal Topics for Persuasive Essay What is the most tolerant way to control the relationship between atheists and believers? Is it necessary to participate in war conflicts in Middle Eastern countries? The influence of ‘Sexual Revolution’ on modern art, music and idols. Why the tension between vegetarians and meat eaters is growing and how to control it? Which types of crimes shall lead to a death sentence? Shall students keep a special diet that helps their brain to work better? Would the portrait of Mona Lisa be the same popular if it’s painted by an unknown artist? Shall people change their attitude towards cheating and call it sexual freedom? Is the art for masses less important than the recognized elite masterpieces? Modern fashion trends make women feel worse and look less natural comparing to women of the past. Choosing an interesting topic is not as easy as it may look. You shall prefer those topics that may have several possible explanations and points of view. It’s always good to choose some controversial topics, however, in that case, you shall also have a clear and grounded position about it. It’s not always necessary to create the topic on your own. It’s ok to choose one of the topics that is presented in a list. Even if you choose a topic that has been discussed before, you can express different ideas about it and make your paper sound unique.

Information system of operational management Essay

Information system of operational management - Essay Example Patsha network design presents the connectivity within and outside the company to enhance information flow. Intranet design presents internal dissemination of information and technical resources while extranet gives an overview of information exchange with external world. Infomeneja IS helps in facilitating implementation of all these designs. Infomeneja IS presents the whole idea of systems but within it sits other sub-system which helps to perform Patsha Operations. These may include; Teleconferencing and mailing system application which help in communication within and outside the company. Sales monitoring and analysis system is another example whose help is to assist in overseeing the sale of published materials and ensure profit realization. An inventory control system will best feature in this to help in stock management. For better management and decision making a decision support system will be embedded to help both middle and top level management. Infomeneja security is one of the major issues of consideration by the Patsha Company to ensure information reliability. A control has to be drafted in regard to the systems security upon the development stages. This control includes aspects such as authentication, authorization, confidentiality and availability of the system resources. These will help to beef up security measures. Authentication should state clearly the identity verification in case of access and in this, infomeneja will implement some authentication principles such as password management, multifactor authentication and biometrics. This will have a direct effect to some other controls strategy such as confidentiality of system

The design of health and safety control system Assignment - 1

The design of health and safety control system - Assignment Example The levels of oxygen in confined spaces can be depleted when there is reaction between some soils and oxygen in the atmosphere; or release of gas such as carbon dioxide that can displace ambient air. Poisonous gases, fumes or vapours can built up in the sewer; enter from connecting pipes; or leak from other areas. Residues left on surface of walls can give off gas, fume, or vapour. Scraping before painting can give rise to particulates that can contaminate the ambient air. Spray painting can give rise to volatile organic compounds depending on the composition of the paint. Volatile organic compounds can have adverse health effects including cancer. The person conducting the operation is at major risk for adverse effects described above. Since the sewer is located below a field where cattle and sheep graze, an open sewer could be a fall hazard for these animals. The control system for this operation includes barricades and procedures for confined space work. According to the Management of Health and Safety at Work Regulations 1999 hazards must be identified; risks assessed and precautions determined. According to the Confined Spaces Regulations 1997 presence of risks of serious injury as in the operation requires following a safe system of work, and putting in place adequate emergency measures before the start of work. The safe system of work is based on the operation described above. A supervisor should be given responsibility for ensuring that necessary precautions are observed for checking the safety at each stage and being present when the work is in execution. The operator must have sufficient experience in conducting painting work in confined spaces. A determination has to be made if there is the need to isolate the sewer, and it must be checked if the isolation is effective. Before entry cleaning is required to determine whether fume s do not develop from residues while work is

Sickle cell anaemia Essay Example | Topics and Well Written Essays - 1000 words - 1

Sickle cell anaemia - Essay Example rised by the presence of an atypical haemoglobin type S which is rigid, fragile and crescent-like cells that easily die off making a person record low red blood cells count. The disease is inherited by children from their parents and sufferers usually experience anaemia in which the red blood cells are in low count since they (sickle cells) die within a period of about 3 weeks unlike the normal red blood cells that die after 4 months. This leaves the body with low energy and constant tiredness owing to lack of oxygen for respiration. Episodic pains are as well experienced owing to the barricade they cause along the blood vessels (Steinberg, 2009:83). Sickle cell anaemia is considered is a blood cell disorder passed from parent to child. The disorder comes when there are inflexible and hemispherical blood cells that are atypical as compared to the standard and regular red blood cells that are usually supple (Mehta, 2009:33). These abnormal cells (haemoglobin S) do not enable free flow of oxygen to the entire body as it should be for energy generation as they get wedged and jammed along the blood vessel thereby blocking the ‘blood highway’. This blockage account for the pain that patients suffering encounter and the lack of oxygen supply brings about serious fatigue. It is regarded as another type of anaemia disorder in which cells necessary for carrying oxygen are lacking or few in number. The disease is inherited in an ‘autosomal recessive inheritance’ pattern in which both parents have to transmit the genetic material to the baby for the child to suffer otherwise if its only one parent then the child w ill be a carrier and not manifest the symptoms. Since sickle cell anaemia is a blood disorder, it is diagnosed through testing the blood for individuals who have already been born although it is possible to detect the disorder even in unborn babies in which fluid in the amniotic tissue is tested to check for the presence of Haemoglobin S which is the

1903 - Wright Brothers' First Flight Research Paper

1903 - Wright Brothers' First Flight - Research Paper Example Earliest Days; Takeoff! How the Wright Brothers Did What No One Else Could and That First Flight are critically analyzed relating with 1903 Wright Brothers First Flight. What do these sources reveal about the event? Source 1 Earliest Days; Takeoff! How the Wright Brothers Did What No One Else Could Earliest Days; Takeoff! How the Wright Brothers Did What No One Else Could by John Noble Wilford reveals that the first flight attempt was estimated to have lasted12 seconds up the sky covering a distance of 120 feet (Wilford, 2003). The Wright brothers, described as shy and unmarried, made other three attempts and Wilbur broke a further record by making a flight that lasted 59 seconds covering a distance of 852 feet. Their parents were protestant bishops and became interested flight at an early age. They wanted to prove to the world that air transport can be possible. Wilford highlights how Wright brothers chose the beach, Kitty Haw, to be the proving ground of their efforts (Wilford, 200 3). The beach had constant and persisting winds that assisted in adding lift to the craft; hence making it possible for the flight. They had made approximately 700 thriving flights at the beach using their gliders in 1902. At that time, automobile manufactures were unable to design and come up with a suitable engine that was light and powerful enough to lift the craft. Consequently, the brothers opted to deign their engine suitable to their need. During the lunching of the first power-driven airplane, the brothers explained the challenges they faced in controlling the plane. Earliest Days; Takeoff! How the Wright Brothers Did What No One Else Could states that the weather was favorable since it was windy, that assisted in lifting the craft into the sky. Wilbur got into the craft at 10:35 in the morning, after testing and conforming that all the devices were in effective form (Wilford, 2003). Source 2 That First Flight That First Flight by The New York Times talks about the achieveme nt of two bicycles’ manufactures from Dayton. Wilbur and Orville made history by flying a heavy aircraft into the air four consecutive times prolifically. Primarily, they had studied how gliders worked and experimented with them before attempting the self propelled aircraft. That First Flight accepts the fact the Wright brothers’ inventory would have been discovered by another person. But what makes their discovery unique is that it happened at an earlier than expected (The New York Times, 2003). The skill of concocting the right combination of equilibrium, and impulsion of an aircraft up the sky was an exceptional idea that improved the structuring of controllable planes. That First Flight states that the idea behind practicing with gliders years before 1903 was because man did not want to invent a flying machine, but a flying man. Consequently, in their attempt to come with the self propelled air craft, the basic idea was how the machine could be controlled by man. I nterestingly, the flights attempts were affected by man rather than the machine itself. Wright brothers had to learn ways of flying their craft aptly to achieve their goal. The article argues that the principles used initially by the Wright bothers are still important and used currently by the modern airplanes. The act of aircraft flying in the sky is something marvelous despite the fact that it is now exceptionally common. I agree with the author of the article since individuals in the society still wonder how a machine heavier than air flies in the sky comfortably at high speed (The New York Times, 2003). Do they add to or alter what you previously knew about this event from the textbook and lectures? That First Flight

Chinese Film Essay Example | Topics and Well Written Essays - 750 words

Chinese Film - Essay Example The reasons why film is particularly suited for semi-unimpeded movement across national borders, cultural boundaries and linguistic barriers will be illustrated in this essay through reference to Crouching Tiger, Hidden Dragon. Through a critical analysis of this production, the essay will expose the extent to which this supposedly Chinese film is, as with cinema in general, a transnational work. Globalisation has, undoubtedly, maximised cinema's capacity to function as a transnational medium of communication. As Lu (1997) asserts, contrary to immediate assumptions, this is not because globalisation has facilitated the movement of goods and services across borders or because it is characterised by an intricate network of transnational interpersonal communication system (internet), but because film has become transnational. Ethnic and national cinema is decreasingly purely ethnic and increasingly international in scope (Lu, 1997). The veracity of the aforementioned is perfectly evidenced in Ang Lee's 'Chinese' film, Crouching Tiger, Hidden Dragon. ... Produced and released in 2000, the film won, within the context of non-English speaking cinema, unprecedented international acclaim and box office success, even scooping up four Oscars (Rose, 2001). The film's budget of fifteen million dollars was the highest ever for a Chinese language film and became the most commercially successful foreign film ever to be distributed worldwide, grossing more than two hundred million dollars in global box office receipts (Rose, 2001). Its international success cannot be divorced from the inherently transnational character of the production. As Cheshire (2001) writes, Crouching Tiger, Hidden Dragon's director, Ang Lee, was born in Taiwan, studied theatre acting and directing at the Taiwan Academy of Arts in Taipei, received a bachelor's degree in theatre at the University of Illinois, Urbana Champaign, and continued his studies in film at New York University in the nation's cultural melting pot. By the time he made Crouching Tiger, Hidden Dragon, Le e had already completed three Chinese language films and three Hollywood projects (Cheshire, 2001). In 1995, the British screenwriter and actress, Emma Thompson, invited Lee to adapt Austen's British classic Sense and Sensibility to the cinema. Then Lee took on the American suburbs of the 1970s in Ice Storm (1997) and the war-torn American South in Ride with the Devil (1999) (Cheshire, 2001). Apart from the thoroughly transnational character of its director, Crouching Tiger Hidden Dragon (2000) includes such transnational artistic talents as Chow Yun-Fat (Hong Kong), Michelle Yeoh (born in Malaysia, but began her film career in Hong Kong), Zhang Ziyi (China), Chang Chen (Taiwan), and Cheng Pei-pei (Hong Kong). The cinematographer Peter Pau and fight

Employees' Development plan supporting individual and organizational Research Paper

Employees' Development plan supporting individual and organizational effectiveness in an organisation - Research Paper Example Introduction The global financial crisis has turned some companies to scrimp on their budgets just keep them afloat in these difficult times. Many people have lost their jobs as a result of the budget cuts. For employees left to work to help their companies rise above the economic crunch, training and development are ensured in the expectation that it will contribute towards the betterment of not only the individual employee but of the whole organization as well. Employee development has been identified as key to improving overall organizational effectiveness. Jacobs and Washington (2003) have defined it as: â€Å"Employee development refers to an integrated set of planned programs, provided over a period of time, to help assure that all individuals have the competence necessary to perform to their fullest potential in support of the organization’s goals† ( 344). One organization that continues to reap success in spite of the economic crisis is McDonald’s Food Co rporation. This company has gained a reputation for excellent standards in food and service. Recently, it is also being known as a supportive employer offering a remarkable employee development program. Background of the Organisation McDonald’s was first developed by brothers Dick and Mac McDonald in 1940. They concentrated on just a few products with their juicy hamburgers as their main seller. In 1954, Ray Kroc was appointed by the brothers to be the first franchisee in San Bernardino, California. He opened his first restaurant the following year in Des Plaines, Illinois and the McDonald’s Corporation was created (McSpotlight.org, 2010). The company upheld the highest quality in food, service, cleanliness and value that Quality, Service, Cleanliness and Value (Q.S.C. & V.) became the company motto since 1957. In 1961, Ray Kroc bought all rights to the McDonald’s concept from the McDonald brothers (mcspotlight.org). He also opened the Hamburger University in El k Grove, near Chicago where people intending to be in the business were given high quality training and development. Since then, McDonald’s kept growing in terms of business and innovative products and concepts that attracted the international market to acquire franchise stores in their countries. The awards reaped by the company throughout the years prove that McDonald’s is one company committed not only to the highest standards of excellence in the food service industry but also to being a great employer that motivates its employees to strive for their best performance. Literature Review on Learning and Employee Development Nowadays, people have more access to learning. More and more training courses are developed and offered in schools and online for people who want to go further in what they know to gain skills and knowledge in their own areas of interest. The term learning may be defined in a myriad of ways. â€Å"Learning is the act or process by which behaviora l change, knowledge, skills and attitudes are acquired† (Boyd, Apps, et al., 1980:100-101). Learning is not limited to schooling, especially for adult learners who seek knowledge from many sources other than schools. Knowles et al. (2007) theorizes that adult learning is organized around the notion that adults learn best in informal, comfortable, flexible and nonthreatening settings. Employees who engage in further learning have their own motivations that urge them to carry on. The motivation to learn is affected by the

Chinese Film Essay Example | Topics and Well Written Essays - 750 words

Chinese Film - Essay Example The reasons why film is particularly suited for semi-unimpeded movement across national borders, cultural boundaries and linguistic barriers will be illustrated in this essay through reference to Crouching Tiger, Hidden Dragon. Through a critical analysis of this production, the essay will expose the extent to which this supposedly Chinese film is, as with cinema in general, a transnational work. Globalisation has, undoubtedly, maximised cinema's capacity to function as a transnational medium of communication. As Lu (1997) asserts, contrary to immediate assumptions, this is not because globalisation has facilitated the movement of goods and services across borders or because it is characterised by an intricate network of transnational interpersonal communication system (internet), but because film has become transnational. Ethnic and national cinema is decreasingly purely ethnic and increasingly international in scope (Lu, 1997). The veracity of the aforementioned is perfectly evidenced in Ang Lee's 'Chinese' film, Crouching Tiger, Hidden Dragon. ... Produced and released in 2000, the film won, within the context of non-English speaking cinema, unprecedented international acclaim and box office success, even scooping up four Oscars (Rose, 2001). The film's budget of fifteen million dollars was the highest ever for a Chinese language film and became the most commercially successful foreign film ever to be distributed worldwide, grossing more than two hundred million dollars in global box office receipts (Rose, 2001). Its international success cannot be divorced from the inherently transnational character of the production. As Cheshire (2001) writes, Crouching Tiger, Hidden Dragon's director, Ang Lee, was born in Taiwan, studied theatre acting and directing at the Taiwan Academy of Arts in Taipei, received a bachelor's degree in theatre at the University of Illinois, Urbana Champaign, and continued his studies in film at New York University in the nation's cultural melting pot. By the time he made Crouching Tiger, Hidden Dragon, Le e had already completed three Chinese language films and three Hollywood projects (Cheshire, 2001). In 1995, the British screenwriter and actress, Emma Thompson, invited Lee to adapt Austen's British classic Sense and Sensibility to the cinema. Then Lee took on the American suburbs of the 1970s in Ice Storm (1997) and the war-torn American South in Ride with the Devil (1999) (Cheshire, 2001). Apart from the thoroughly transnational character of its director, Crouching Tiger Hidden Dragon (2000) includes such transnational artistic talents as Chow Yun-Fat (Hong Kong), Michelle Yeoh (born in Malaysia, but began her film career in Hong Kong), Zhang Ziyi (China), Chang Chen (Taiwan), and Cheng Pei-pei (Hong Kong). The cinematographer Peter Pau and fight

Complete the Critical Response Paper Assignment Example | Topics and Well Written Essays - 250 words

Complete the Critical Response Paper - Assignment Example The rule of the majority is indeed the very premise of democracy and this is the reason why it is successful. The different kinds of democracy are representative and direct. Direct democracy deals with a political system where citizens can have their say through voting in public affairs while the indirect form of democracy is that form of the democratic government which sees that the people elect their representatives to rule for their own interests and hence participate in elections to select a government of their own (Sen 1999). One should believe that the democracy that exists within America is more representative than being direct as they hold fast on to the adage of democracy more than any other alternative. The element of consensus exists within democracy which is known as consensus democracy. Direct democracy is actually referendum while representative democracy is through elected representatives. References Sen, A (1999). "Democracy as a Universal Value". Journal of Democracy , 10 (3): 3–17

Analysis of Richard Wrights Black Boy

Analysis of Richard Wrights Black Boy Black Boy Essay In Richard Wright’s autobiography of Black Boy, Richard is determined to leave his family to move to the north because they do not provide the necessities for him to be successful. Richard’s bold and stubborn personality negates him success. This runs parallel to the abuse and manipulation that Richard receives that limits his relationships with others around him. Wright also shows how reading frees a soul suffering from discrimination. The US constitution states that â€Å"All men are created equal,† but in the Jim Crow law era, blacks were always looked down upon. Jim Crow promoted segregation and dehumanization amongst blacks and whites, creating the â€Å"wall† that separates whites from blacks. Racial prejudice, hate and discrimination were everywhere; blacks could be punished in any manor, from being arrested and getting a beating, to being slain based on a white person’s judgment on the action perform by the black individual. Throughout the n ovel we can see Richard’s alienation from the white community as well as the black community. Richard grew up in the south bound by rules and regulations formed by the whites. Secluded within their own confines of living, their struggle to survive in such a harsh environment seemed infinite and hopeless. Richard had to take charge when his mother falls ill and must provide for her and the family; disregarding this own health and focusing on keeping up with the rent and bills that needed to be paid. Richard’s father deserted his family leaving him and his mother to be on their own. Nathan, Richard’s dad was a peasant, and a share cropper. He did what the whites commanded him to do, follow the rules with no desire to succeed or progress in life, and repeat each and every demeaning and menial task day by day just to get by. This is the kind of society which ‘trained’ Nathan to be what the whites forced him to be, a dull and dumb individual with no sense of perception of what’s actually going on around him. Being counted as a subspecies, Richardà ¢â‚¬â„¢s father was conditioned to have no sense of hope, his entire life was based upon one thing, and that is falling in line with all other blacks and follows through with all the commands given by the white with no questions asked. This worked on every level imaginable, using sheer force and fear to tear down any sense of hope or positive thinking which blacks had. Just the thought of blacks surpassing a white individual was unthinkable. Why is this? It’s because it was deemed that way, it was how the society worked at that time. No one could question or challenge what whites could or can’t do, all of their thoughts are final. The ideas of being superior amongst the blacks were socially acceptable. And this included dehumanizing and cruel treatments. Richard wasn’t like the other kids that were in the black society. He was more free willed and ambitious. Richard was an independent individual from the start; not getting attached to anyone or in need of assistance of any sort. Richard was fond of education and learning. His quest for knowledge seemed, in the other black people’s eyes as a waste of time and energy, deemed to be helpful. But in some cases, Richard’s knowledge gets him in trouble, even worse getting hurt. An example from the book, is when Richard has to go to the store and buy groceries, but gets robbed numerous times by a gang of boys. The final time that Richard failed to get the groceries his mother told him, â€Å"Don’t come in here†¦You just stay right where you are, I’m going to teach your this night to stand up and fight for yourself†¦Don’t you come into this house until you’ve gotten those groceries.†(pg.24-25). One of Richard’s top quali ties was taught that night by his mother was perseverance. On the other hand we see the opposite, Shorty. Basically this amplifies my point of doing whatever possible to survive in this dreadful environment. He gets kicked in the gut just to get a quarter. My ass is tough and quarters is scarce.(end of ch12) At what point does a person go to violate self-ethics and morals, and go through with it just to survive. How far are you willing to go until you break? There is a delicate bond between the white people and white people, as humans we have limitations on how much we can handle mentally and physically. We can see from this example that Shorty is willing to degrade himself in order to get a quarter per kick. Shorty and Richard go off on a tangent about how to avoid being dehumanized and do something else. Richard offers to help him but Shorty’s hard headedness prevents him from to take heed the information given by Richard. But in Shorty’s remarks, he states that he is lazy to do anything and won’t change his ways of ho w he earns money. The readers recognize that Shorty has accepted the fact of being caught in the white power web of inferiority; he sees that there is no way out of this terrible situation. He went to school for half of his learning, and the half he was self-taught; by reading little bits and pieces he manages to learn quite a bit. Having knowledge and education grants Richard to be ahead of all the other black people. Wanting to be a writer, Wright pursues his dreams of moving North and writing novels. He takes the challenge by getting any job he can to raise money for himself to move to the north once and for all, and freeing himself from the clutches of racial prejudice and white rule. His ability to persevere also guided Richard toward his prosperity. Richard was a fighter and no matter what obstacle he faced, he manages to knock it down and march forth with his duties. Richard was always rebellious, from when he was really young to young adulthood. For example, when the principal at Richard’s school had asked him to give a speech to the audience of whites and blacks, Richard refused to read the principal’s pre-written speech. Just by reading the principal’s speech he was relieved at the same overly stressed out. He had the will and courage that other black individuals lacked to commence forth with this own speech. Richard was willing to leave school without a diploma just because of this unjust action. The whites knew that Richard was different; they knew that he challenged the â€Å"system† and he wasn’t afraid like the rest of the black people. The readers can sense fear coming from the whites, due to Richard’s attitude towards the whites and the boundaries that surround him. The white’s try to cover up their fear and pushing racism by being cruel and demeaning towards the entire black population. We can see in the scene where Richard gets a new job at the optical place, and his co-workers mistreat him just because the boss is kind to Richard. Later Richard leaves the job knowing that his co-workers would ‘kill’ him if told the boss what happed to him. The hostility portrayed by his co-workers was so great that Richard couldn’t handle it anymore, and was forced to leave his job. All of these events mold Richard into the hardy character he is known for. Wright’s intellect was unmatched by the blacks, and well as his rebellious features and conduct. These were a few reasons that he was able to overcome his background of being black individual, and becoming a successful writer. Based on the fact that he was smart and independent, and his perseverance guided him to reach this status, to which all blacks should uphold to. By reading Black Boy it becomes very clear to the reader how life as a black minority is very difficult. We can recognize all the struggles they faced and how Richard challenged and managed to surpass what no blacks ever did.

Similar Roles of Mothers and Daughters in Amy Tan’s The Joy Luck Club :: Joy Luck Club Essays

Similar Roles of Mothers and Daughters in Amy Tan’s The Joy Luck Club   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Joy Luck Club, a novel by Amy Tan, is structured in an unusual way.   It is divided into four different sections.   Each section has four stories told by four different women.   In the first section all the mothers, in the Joy Luck Club, talk about their childhood.   In the next two sections the daughters talk about their childhood and their experiences through life.   In the last section the four mothers speak about the stories of when they were younger, around their daughters' age.   This novel explores countless topics.   Not only does it deal with gender identity and the relationships between Chinese-American cultures, but it also deals with mother daughter relationships.   Amy Tan shows us how mothers and daughters mirror each other. Every daughter in this novel hears about their mother's life and sees some comparisons to her own life.   "All women are daughters and must resolve the conflicts inherent in the mother/daughter relationship if they are to understand themselves an ultimately to establish their own identity". (Internet 1)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   No matter how old they get, mothers and daughters play similar roles.   Even though an individual may not consciously do things that their mothers have taught/ inherit from them, they still act the same in some respects. An example of this would be   GuYing-ying (Betty) St. Clair and Lena St. Clair.   Both of these characters tell their stories.   These stories, in ways, sound very similar to each other.   Ying-ying's story is called the Moon Lady.   In this story, Ying-ying learns a truth and in some ways becomes a different person.   As Ying-ying sat on the edge of the boat the firecrackers went off.   She fell off the boat and found herself lost   in a large body of water.   She is discovered in the water and is brought to shore where she finds her family.   Later she sees the moon lady and wants to make a wish.   The moon lady is similar to a shooting star.   You only get one wish and it   only appears once in a gre at while.   However, when she sees the moon lady she discovers something.   "I could see the face of the moon lady: shrunken cheeks, a broad oily nose, large glaring teeth, and red stained eyes.   A face so tires that she she wearily pulled off her hair, her long gown fell from her shoulders and as the secret wish fell from my lips, the moon lady looked at me and became a man" (83)  Ã‚   Ying-ying discovers that things aren't always what they appear to be.

Andrew Wythe :: essays research papers

Andrew Wythe Andrew Wythe was an amazing artist full of imagination, feelings, and compassion for his work. He has a great portfolio of work consisting of his two major styles of work, realistic and abstract. A lot of his personal life goes into each painting he creates. Each piece can usually be linked back to the life he lived and fond memories he wished to preserve.   Ã‚  Ã‚  Ã‚  Ã‚   Andrew was born in Maine and has quite a history to be told from living there. He has been painting for fifty years and has changed his style some during those years. He used to paint realistically for quite some time but then made the change to painting abstract. As a child, Andrew has very fond memories of his father and the fun times the family had together. He can recall a time when his father dressed as St. Nick and frightened him so much that he wet the bed. Just before Christmas, the whole family recalls hearing footsteps on the roof. Their father dropped a painting of St. Nick down the chimney for them. His father did illustrations, so Andrew had plenty of backing for his creative talents. Andrew can remember being very interested in the art of war ever since his early childhood years. He remembers playing with his tiny soldiers and creating stories for them. Andrew?fs father believed that a painter should be left alone from the ages of 6-18. Andrew had tutors for his schooli ng whereas his brothers and sisters went off to school. This gave him free time to roam the countryside. Andrew did not attend college but instead studied under Howard Pyle at his school with 12 other students.   Ã‚  Ã‚  Ã‚  Ã‚   Andrew?fs father died near his house in Maine because of a train accident. Andrew really viewed his father as a hero and looked up to him. He will always remember his father and because of this a heavy influence is always with Andrew when painting. His father?fs life truly inspired Andrew and because of this, Andrew?fs paintings are all very personable and all have a story to tell. The paintings mostly represent his life in Maine and represent the climate and area well. Most of the paintings are of houses, naturalistic surroundings, and his neighbors and friends. He would paint various rooms in his house to portraits of his friends. All were done with such depth and character.

Valuation: Apv vs Wacc

The three approaches value the entire firm but they differ around the way they treat tax shields. We will first review the rational and the underlying assumptions behind each approach. We will then use a numerical example to illustrate the mechanics behind the three approaches and show under which assumptions they yield the same results. Enterprise Valuation According to Modigliani and Miller, the value of a company’s economic assets must equal the value of the claims against those assets.Enterprise valuation models value the sum of the cash flows to all claim holders, including equity holders and debt holders and discount them to the appropriate cost of capital. The cash flow available to all claim holders is called the free cash flow (FCF) from operations and is defined below: FCF = EBIAT + Depreciation – Capital Expenditure – Increases in Working Capital EBIAT is the income the company earns after tax without regard to how the company is financed. Non-cash exp enses such as Depreciation are then added.Because we are valuing a going concern we also take into account the cash flow management will retain for new capital expenditures and possible increase in working capital. The remaining is in effect the cash available to owners and creditors. By definition free cash flow is independent from leverage (and is often referred as un-levered free cash flow). Therefore the value derived from the interest tax shield (interest on debt is tax deductible) has still to be incorporated in the enterprise valuation.This is where the three approaches WACC, APV and CCF differ: †¢ The WACC approach values the tax shield by adjusting the cost of capital †¢ The APV approach values the tax shield separately from the un-levered free cash flow †¢ The CCF approach values the tax shield by incorporating it in the cash flow The Weighted Average Cost of Capital Approach To determine the value of the enterprise, the free cash flows from operations have to be discounted to present value. According to Modigliani and Miller’s proposition number one without taxes or financial market mperfections the cost of capital does not depend on financing so the weighted average of the expected returns to debt and equity investors equals the opportunity cost of capital regardless of leverage: Rd x D/V + Re x E/V = Ra = Constant independent of D/V Ra = Opportunity cost of capital = Un-levered cost of equity = Return on assets = pre-tax WACC Rd = Cost of debt, Re = Cost of equity, D/V and E/V = Target levels of debt and equity using market values Fabrice Bienfait IFM Final Paper Page 2 of 8None of the components of the cost of capital are directly observable and therefore need to be approximated using various models and assumptions. The cost of equity is derived from the capital asset pricing model (CAPM) while the cost of debt can be estimated from the firm credit rating and default risk or from yields on publicly traded debt. However inter est on debt is tax deductible so if we were to discount free cash flows from operations using Ra we would not take into account the value of the tax shield.Therefore the after-tax weighted average cost of capital (WACC) is used instead. WACC includes an adjustment to the cost of debt by the marginal tax rate (Tm): WACC = Rd x (1-Tm) x D/V + Re x E/V (= Ra – Rd x Tm x D/V) WACC is less than the opportunity cost of capital Ra because the cost of debt is calculated after tax as Rd (1-Tm). Thus the tax advantages of debt financing are reflected in a lower discount rate. The WACC equals the opportunity cost of capital when there is no debt and declines with financial leverage because of increasing interest tax shields.The WACC increases again when the debt level becomes significant relative to the value of the firm reflecting the main costs associated with borrowing, the costs of bankruptcy. Figure 1: WACC as a Function of the Debt Ratio Rates of Return Re R WACC Rd Debt to Equity Discounting all future cash flows using a constant WACC assumes that the company manages its capital structure to a fixed debt to value ratio (D/V).Therefore the company’s WACC is the right discount rate only if the company’s debt ratio (D/V) is expected to remain reasonably close to constant. However if the company is expected to significantly change its capital structure (i. e. Fabrice Bienfait IFM Final Paper Page 3 of 8 constant level of debt, LBO, recapitalization), the WACC would have to be continuously adjusted which makes the approach more difficult to apply.The Adjusted Present Value Approach The APV approach values the cash flows associated with capital structure independently by separating the value of operations into two components: the value of the firm without debt and the benefits and the costs of borrowing: Value of the firm = Value of the un-levered firm + Present value of interest tax shields – Costs of financial distress The value of the un-l evered firm is obtained by discounting free cash flows at the return on assets (Ra).If the company manages its debt-to-value to a target level (D/V=constant) then the interest tax shield is as risky as the firm and should be discounted at Ra. In this case the APV approach yields the same results as the WACC approach but is computationally less efficient. However if the debt is assumed to be a fixed amount (D=constant) the interest tax shield is less risky than the firm but as risky as the debt itself and should be discounted at the cost of debt.In this case the APV approach is not only the only correct approach, it is also computationally very efficient if the tax saving are considered as perpetuity since: Present value of interest tax shields = (Tm x Rd x D) / Rd = Tm x D The main risk in using the APV approach is to ignore the costs of financial distress, especially at very high debt ratios, which leads to an overvaluation of the firm.The Capital Cash Flow Approach Capital cash fl ows are simply derived from free cash flows by adding interest tax shields: CCF = FCF + Interest tax shield = FCF + Tm x Rd x D With this approach capital cash flows are then discounted at the return on assets. This implicitly assumes that interest tax shields are as risky as the firm and are discounted at the return on assets. This is true when debt is a fixed proportion of value. Under this assumption the capital cash flow approach will generate the same results as the WACC approach.Furthermore if the debt is forecasted in levels instead of a debt-to-value ratio the CCF approach is easier to use because the tax shield are simple to calculate and to include in the CCF. If the forecasted debt levels imply a change in the debt-to-value ratio, the CCF retains his simplicity since the discount rate, the return on assets, is independent of the capital structure and can be used for every forecast period. Therefore the approach is easier to apply in transactions involving change in capita l structure such as a LBO or a restructuring.However in this case discounting the interest tax shields at Ra is a simplifying assumption since the risk of those cash flows is not anymore the same as the risk associate with the firm. Fabrice Bienfait IFM Final Paper Page 4 of 8 Numerical Example Table 1 shows the financial assumptions underlying our numerical example. The firm is valued over a period of 5 years during which EBIT is growing at 5% per annum and depreciation, capital expenditure and increase in working capital are constant. However the firm’s capital structure changes significantly through the repayment of a major portion of its debt.Table 1: Assumptions (in â‚ ¬) Risk Free Rate Market Risk Premium Tax Rate Asset Beta Debt Beta EBIT Depreciation Capex Increase in NWC Debt Year 1 5% 7% 40% 1. 2 0. 4 100,000 50,000 60,000 10,000 100,000 Year 2 5% 7% 40% 1. 2 0. 35 105,000 50,000 60,000 10,000 50,000 Year 3 5% 7% 40% 1. 2 0. 3 110,250 50,000 60,000 10,000 25,000 Year 4 5% 7% 40% 1. 2 0. 25 115,763 50,000 60,000 10,000 12,500 Year 5 5% 7% 40% 1. 2 0. 2 121,551 50,000 60,000 10,000 6,250 We will start valuing the firm using the WACC approach (see table 2).This is the less appropriated and most complex methodology given the forecasted changes in capital structure. Indeed the WACC needs to be recalculated every year and an iterative calculation has to be used since the value of the firm for each year is required to derive the percentage of debt and equity. The firm value in year N is the value of the remaining cash flows. For instance the value of the firm at the beginning of Year 3 is the value of the remaining cash flow in Year 3, 4 and 5 discounted using the WACC in year 3, 4 and 5.Table 2: WACC Valuation (in â‚ ¬) EBIT – Taxes on EBIT = EBIAT + Depreciation – Capex – Increase in NWC = FCF Percent Debt Cost of Debt After Tax Cost of Debt Percent Equity Return on Assets Cost of Equity WACC Discount Factor PV Firm Value Year 1 100,000 (40,000) 60,000 50,000 (60,000) (10,000) 40,000 61. 3% 7. 8% 4. 7% 38. 7% 13. 4% 22. 3% 11. 5% 0. 90 35,878 163,178 Year 2 105,000 (42,000) 63,000 50,000 (60,000) (10,000) 43,000 35. 2% 7. 5% 4. 5% 64. 8% 13. 4% 16. 6% 12. 4% 0. 80 34,329 141,923Year 3 110,250 (44,100) 66,150 50,000 (60,000) (10,000) 46,150 21. 5% 7. 1% 4. 3% 78. 5% 13. 4% 15. 1% 12. 8% 0. 71 32,666 116,451 Year 4 115,763 (46,305) 69,458 50,000 (60,000) (10,000) 49,458 14. 7% 6. 8% 4. 1% 85. 3% 13. 4% 14. 5% 13. 0% 0. 63 30,979 85,196 Year 5 121,551 (48,620) 72,930 50,000 (60,000) (10,000) 52,930 13. 3% 6. 4% 3. 8% 86. 7% 13. 4% 14. 5% 13. 1% 0. 55 29,325 46,817 Fabrice Bienfait IFM Final Paper Page 5 of 8 The cost of debt is calculated using CAPM: The cost of equity is calculated using the M&M proposition I:Rd = Rf + ? d x MRP Re = (Ra – D/V Rd) / (E/V) Using the WACC approach we find a value for the firm of â‚ ¬163,178. Next we use the APV approach to value the firm calculating separately the value of the un-levered firm and the value of the interest tax shield (Tm x Rd x D). The approach is straightforward in this case since we are given a forecast of the level of debt. We find that the APV approach yields the same firm value (â‚ ¬163,178) as the WACC approach when discounting interest tax shield at Ra.We also illustrate that using Rd would yield a higher valuation of the firm (this is not the correct discount rate in this case given that the debt is not constant). Table 3: APV Valuation (in â‚ ¬) FCF Return on Assets Discount Factor PV Value of Unlevered Firm Interest Tax Shield Return on Assets Ra Discount Factor PV Value of Interest Tax Shield @ Ra Interest Tax Shield Cost of Debt Rd Discount Factor PV Value of Interest Tax Shield @ Rd Value of Firm with ITS @ Ra Value of Firm with ITS @ Rd Year 1 40,000 13. 4% 0. 88 35,273 158,491 3,120 13. % 0. 88 2,751 4,686 3,120 7. 8% 0. 93 2,894 5,121 163,178 163,613 Year 2 43,000 13. 4% 0. 78 33,438 Year 3 46,150 13 . 4% 0. 69 31,647 Year 4 49,458 13. 4% 0. 60 29,907 Year 5 52,930 13. 4% 0. 53 28,225 1,490 13. 4% 0. 78 1,159 710 13. 4% 0. 69 487 338 13. 4% 0. 60 204 160 13. 4% 0. 53 85 1,490 7. 5% 0. 86 1,286 710 7. 1% 0. 81 572 338 6. 8% 0. 76 255 160 6. 4% 0. 71 114 Finally we use the CCF approach. The calculation clearly shows how the interest tax shields are incorporated in the cash flows and then discounted at Ra.The CCF approach is equivalent to the WACC approach. Furthermore the approach also produces the same value as the APV method with interest tax shields discounted at Ra. Fabrice Bienfait IFM Final Paper Page 6 of 8 Table 4: CCF Valuation (in â‚ ¬) EBIT – Taxes on EBIT = EBIAT + Depreciation – Capex – Increase in NWC + Interest tax Shield = CCF Return on Assets Discount Factor PV Firm Value Year 1 100,000 (40,000) 60,000 50,000 (60,000) (10,000) 3,120 43,120 13. 4% 0. 88 38,025 163,178 Year 2 105,000 (42,000) 63,000 50,000 (60,000) (10,000) 1,490 44,490 13. 4 % 0. 8 34,597 Year 3 110,250 (44,100) 66,150 50,000 (60,000) (10,000) 710 46,860 13. 4% 0. 69 32,134 Year 4 115,763 (46,305) 69,458 50,000 (60,000) (10,000) 338 49,795 13. 4% 0. 60 30,112 Year 5 121,551 (48,620) 72,930 50,000 (60,000) (10,000) 160 53,090 13. 4% 0. 53 28,311 Conclusions The three enterprise valuation techniques considered in this paper are different in the way they treat interest tax shields. However we have seen that the WACC approach and the CCF approach are identical and that under certain assumptions the APV approach also yields the same valuation.The WACC approach is easy to use and efficient when the assumption that capital structure will not change in the future can be made (D/V= constant). If debt level is forecasted to remain constant in absolute term (D=constant), the APV approach should be used discounting the interest tax shield at the cost of debt. Finally the CCF approach is the appropriate and most efficient approach when forecasted debt levels imply a change in capital structure. In this case it is also equivalent to the APV approach discounting the interest tax shield at the return on assets. Fabrice Bienfait IFM Final Paper