Target Markets for Different Companies Essay -- Corn Flakes, Disney Wo

Identify possible target markets for the following productsA.Kelloggs Corn FlakesC. Disney WorldB.Wilsons Tennis RacketsD. Diet PepsiA.Kelloggs Corn Flakes When I think about Kelloggs target market for their classic corn flakes to me the marketing is simple. A wholesome product for your family, a breakfast staple for many homes for many years. In recent years Kellogg has marketed corn flakes to the average American family of 4 or more with position and upper middle class income, and a busy lifestyle. A big opportunity for them has been the fact that this generation of US consumers are concerned more than ever about sound food, we also direct very hectic lives. So touting corn flakes as a healthy breakfast that is quick is a perfect way to entreaty to a variety of families. In 2012 they launched a campaign geared towards reminding consumers about the simplicity of the ingredients in their oldest brands, one of them corn flakes with only 4 ingredients. Jogging the memories of consu mers that they have always been a healthy, easy delicious choice for breakfast. Reiterating that this is not a new concept for Kelloggs, but one they have been valuing for 100 years. Communicating to families that they retire the modern family has a busy life and not much time for a healthy breakfast, corn flakes satisfies that need. The colors they use on their corn flakes shock even accentuate this idea. The three colors green, red and yellow(a) all represent different things to consumers. Green represents the environment, nature and organics. Red indicates energy, and a sense of urgency. Lastly, yellow signifies sunshine energy and happiness (Coffin, 2011). They also subtly target children with these three bright colors in a simple almos... ... a cola excerpt that is guilt free. They also push the fact that it tastes the same as regular Pepsi telling them they dont have to sacrifice taste for discredit calories like most diet products. The target women is in her 20s and 30s single, dating age so she watches her weight. Diet Pepsi is a huge option for her at the bar as well. She is middle class to upper middle class in a city, and she has no children. She dates a lot and is outgoing, she drinks and chow diet products because like all women her age she wants to look good and dreads going up a pants size. Works CitedAECOM. (2013). Theme Park Attendance calculate for 2012. Wikipedia.Coffin, D. (2011, November 14). Color Psychology and Online Marketing. Retrieved from www.practicalecommmerce.com http//www.practicalecommerce.com/articles/3166-Color-Psychology-and-Online-Marketing

Faust And Frankenstein :: essays research papers

Goethe in Faust and Shelley in Frankenstein, wrap their stories more or less two men whose mental and physical actions parallel virtuoso another. Both stories deal with characters, who strive to be the bermensch in their world. In Faust, the striving fellow, Faust, seeks physical and mental wholeness in knowledge and disaster in lust. In Frankenstein, skipper Frankenstein struggles for control over one aspect of nature and disastrously, through the monster, nature controls him to a much greater degree. Many powers are much too mighty for mortal souls, a lesson that Frankenstein and Faust regulate by the end of their tales. While voluntarily excommunicating themselves from society, both characters accomplish a portion of their goal and yet they remain unhappy because they never control the " ameliorate" life they have built for themselves. In Faust, the intelligent gentleman Faust, seeks spiritual wholeness in knowledge. Through years of hard study, Faust becomes knowledge able in math, sciences and religious belief and yet he becomes inept and incapable of having any romantic or physical relationships with the outside world. As Faust strives to become the "over man" through knowledge, he realizes that books will not satisfy his curiosity and that maybe sensual pleasures will. Therefore, in the process of creating his new life, Faust, becomes distant and unconcerned with all reality and humanity around him. Do not fancy anything right, do not fancy that I could teach or assert what would better mankind or      what might convert. I also have neither money nor treasures, nor worldly honors or earthly      pleasures no dog would want to live this way(p. 95)Obviously, Faust has fallen into a barbarous state of living, through the pursuit of the unattainable. He becomes greedy, desperate and feels justified in whatever it takes to achieve a position of the over man. At that time, Christians and society in general considered his pursuit for lust immoral, unjust and irresponsible. When Faust sets his sights on an object, whether knowledge or women, he demands nothing less of himself than that which will get it. In many situations trueness to an act is reputable education, sports, career. It seems then, that to become the bermensch and pursue excellence, one must stay dedicated to ones goal and dismiss the world around him.In the process of creating his monster, Victor Frankenstein ignores the outside world The summer months passed while I was thus engaged, heart and soul, in one pursuit.

The Power of Delegation Essay -- Delegate Engineering Management Essay

The Power of Delegation Delegation is a way scape that can be used to empower or when abused can be a detrimental force in a company. Delegation can aid employee process and development while getting the job done efficiently. The true purpose of delegation is to accomplish the task by assigning it to someone else (Blair, 1992). Many see the concept of delegation and therefore either will not deputy or improperly apply the principle which provides unsuccessful results. The primary reason to delegate tasks is to get the work done. The omnibus must be wise enough to know that he or she cannot be everywhere and do everything. A bus must also realize that along with the assignment of the job to the subordinate, the authority to complete the task must also be given. The delegation of authority is the hardest, close to difficult part for some in management positions. If the task is appoint without the authority to use independent discretion the result is frustration and incomplete production. The manager must clearly communicate the expected result also ensure that the subordinate is properly trained and/or has the required skills needed to accomplish the assigned task.Communication is a major component of successful delegation. A system of regular exchanges of information between management and employees ensure that each party is cognizant of what others are doing (Blair, 1992). My current employer is a nonprofit organization, which is run by a Chief Executive Officer/President who was hired 22 years ago. Her earth is in education, as a principal, with a masters degree in Education Administration. The chief executive officer answers to a board of directors, which have been very nifty at delegating the responsibilities of running the corporation to the CEO. The board meets monthly to receive reports on the activities and financial status of the facility but other than that have no real hands-on role in the management of the company. The CEO has a very diff erent approach to delegation than the board of directors she tends to micro-manage her staff. Her idea of delegation leans more than to assignment of a task and proceeding to dictate exactly how she desires the task to be accomplished or assigns the task without giving authority to carry it out. The CEO makes assignments to members of her Corporate Leadership Team (program direct... ...tion for his staff. The director is not confident in his own competency yet feels the need to improve upon the work his staff produces. This is not a simple problem because the director, a vice president in the company, needs to work out personal issues in order to stop the anger actions. He can however recognize that the problem exists and redirect his interference. Overall this company would benefit from formal training in the functions of management along with methods of applying the principles of management in their own jobs. A section on delegation would need to consist of the definition of de legation, the importance of communication, developing effective and efficient controls, how delegation support in employee development, how to maintain proper access or assistance to the delegate and awareness of the possible outcomes and failures when using delegation as a management tool (Blair, 1992). ReferencesBlair, GM, The Art of Delegation, IEE Engineering Management Journal, vol. 2, no. 4, pp. 165-169, Aug 1992. Retrieved August 19, 2005, from University of Edinburgh School of Engineering and Electronics web site http//www.see.ed.ac.uk/gerard/Management/art5.html

The Global Manager Essay -- Business Management Studies

The Global ManagerThe rapid growth of globalization has created a boundary less(prenominal)organization. To manage such an organization, there is a need for aglobal director, one who manages across distances, countries andcultures. Considered by some authors to be a myth, wider research,readings and understanding signify its existence. There are certaincriteria which define a global manager, which are truly essential tosuccessful manage in the international context. These managers are invaluable to the organization as they provide the competitive edge.However, there has been shortage of such global managers due to therecruitment of such managers only from the home country of theorganization. This is created a limited pool of next generationmanagers. With the changing trend, organizations have been emphasizingon the recruitment of managers from home country and third nationcountry. Women, too, are macrocosm considered. The major challenge facingglobal organizations is attract and retain such global managers. In view of some authors, such as, Christopher A Barlett and SumantraGhoshal1, there is no such thing as a universal global manager,rather there are 3 groups of specialists business managers, countrymanagers, and functional managers and there are top executives atcorporate headquarters, who manage the complex interactions betweenthe 3. According to Yehuda Baruch2, there is no such thing as aglobal manager, because the examination of a wide possiblecharacteristics indicates that there seems to be no distinct set ofindividual qualities that constitute such a manager.With globalization graceful a basic economic reality, nationalboundaries have become insignificant. As a result,... ...ompeting in the global marketplace, 3rd ed, McGraw-Hill/Irwin- Dessler, G. (2003), Human Resource Management-CAPS, 9th ed, Pearson Education, radical Jersey- Ball, D. A., P. L. Frantz, J. M. Geringer, W. H. McCulloch, Jr., M. S. Minor (2004), International logical argumen t the challenge of global competition, International ed, McGraw-Hill/Irwin, New York- Kramar, R., P. mcgraw, R. S. Schuler (1997), Human Resource Management in Australia 3rd ed, Longman, Australia- www.gwsae.org/executiveupdate/2002/ kinsfolk/success.htm- www.ccl.org/cgi-bin/print/printpage.pl---------------------------------------------------------------------1 Barlett, C.A., S. Goshal (2003), What is a global manager, Harvard Business Review, v 81, pg 1012 Baruch, Y. (2002), No such thing as a global manager, Business Horizons, v 45, pg 36

Pony Express :: essays research papers

Pony swayBefore 1860 it was virtually impossible to gear up a letter or other form of correspondence from St. Joseph Missouri to Sacramento California in less than 20 days. 20 days seemed altogether too long for the west coast merchants and bankers to wait for documents from the east. So three men, William Russell, Alexander Majors and William Waddell created the Pony Express. The Pony Express ensured fast and safe lecture of the mail.To ensure the fast pace delivery of the mail, the Pony Express purchased 600 broncos, mostly thorough breads, mustangs, and morgans. Still the horses werent all needed. They also had to find men who would be able to handle the adverse weather conditions, Indians and be able to ride for 75 miles with out stopping. The riders were generally under 20 years of age and weighed no more than 120 pounds. They had to be excellent horsemen and have experience with guns. The Pony Express was a relay of mail running day and night.On April 3rd, 1860, the runne r rider Johnny Fug headed west bound for Sacramento. Every rider road for 75 miles and they would switch horses every 10-15 miles. The very first letter traveled the 2,000-mile tour from St Joseph Missouri to Sacramento California in only 10 days to the hour of departure. This journey used 27 men and 133 horses. The Pony Express inflict the normal 20 days of travel into 10 days, nearly cutting it in half. With the amazing delivery of mail in 10 days crosswise 2,000-miles of prairie land, mountains and deserts led many large number to use them. With the growth communication between the east and the west the Pony Express grew in popularity. The Pony Express proved that the central route through the U.S could be traveled all winter. It supported the cattle route for the Transcontinental Railroad to meet with the Union Pacific Railroad. Communications was kept open with California during the Civil War. The Pony Express was the fastest communication between the east and west until th e telegraph. It captured the hearts and imagination of people all over the world.With all its success the Pony Express like all things suffered failures. Such as the owners spent $17,000, on the Pony Express and has a 2,000 deficit.

Pony Express :: essays research papers

Pony ExpressBefore 1860 it was virtually impossible to get a letter or other form of correspondence from St. Joseph Missouri to capital of California California in less than 20 days. 20 days seemed entirely too prospicient for the west coast merchants and bankers to wait for documents from the east. So three men, William Russell, Alexander Majors and William Waddell created the Pony Express. The Pony Express ensured dissipated and safe delivery of the mail.To ensure the fast pace delivery of the mail, the Pony Express purchased 600 broncos, mostly thorough breads, mustangs, and morgans. Still the horses werent all needed. They also had to find men who would be able to make out the adverse weather conditions, Indians and be able to ride for 75 miles with out stopping. The riders were generally under 20 years of age and weighed no more than great hundred pounds. They had to be excellent horsemen and have experience with guns. The Pony Express was a relay of mail running day and nig ht.On April 3rd, 1860, the first rider freedom fighter Fug headed west bound for Sacramento. Every rider road for 75 miles and they would switch horses every 10-15 miles. The very first letter trave direct the 2,000-mile journey from St Joseph Missouri to Sacramento California in only 10 days to the hour of departure. This journey used 27 men and 133 horses. The Pony Express cut the normal 20 days of travel into 10 days, nearly cutting it in half. With the amazing delivery of mail in 10 days across 2,000-miles of prairie land, mountains and deserts led many people to use them. With the growth communication between the east and the west the Pony Express grew in popularity. The Pony Express proved that the rally route through the U.S could be traveled all winter. It supported the cattle route for the Transcontinental Railroad to meet with the Union Pacific Railroad. Communications was kept open with California during the Civil War. The Pony Express was the fastest communication bet ween the east and west until the telegraph. It captured the hearts and imagination of people all all over the world.With all its success the Pony Express like all things suffered failures. Such as the owners spent $17,000, on the Pony Express and has a 2,000 deficit.

Learned Skills in Written Communication Class

1) One of my favorite parts of this class was the confusing linguistic communication. I loved to be able to look them up and get word which words meant what. This skill will help me along the way of my c arer beca ingestion I intentional that when I am unsure about something I advise look it up and not feel bad that I do not know the meaning because our English language is precise confusing.2) I in like manner learned how to properly write letters and emails in business settings. I will keep a copy of the samples so I know how oftentimes white space goes where. I also learned that I privation to use black or muddy ink and it has to be professional blue or black.3) I am also really interested in learning more about business etiquette in different regions. I was very impressed with the different ways that different countries used the hand shake. I was also intrigued with the fact that women are allowed in business but in some countries they acquire to still be under men.4) The you view was an interesting section to me as well because I never would have realized the difference in the views. The you view is so much nicer to explain something to someone it makes them feel important and like they mean something to the person writing to them.5) The other skill I learned and am continuing to learn is editing. I like the bookmark that shows me how to correctly mark what is incorrect. I am getting better at finding what words are placed wrong and the misspelled words but and still struggling with how the prepositional phrases work.6) I think the most difficult part of written communication for me was the editing which is why I am stating that I am still learning it. I am trying to figure out what words get going where and where to place commas or other marks.7) I confide the easiest part for me was the confusing words. I felt this was the easiest because I really like to look up what I do not know. I am always in the mood to learn new words and always love to teach my children new and bigger words. I get a kick out of the fact my ten year old walks around telling people she loves to read the Amelia Bedilia books because there are so many idioms in them.8) Two future uses I believe I will use are the confusing words. That I will use so I can remember to look up what I do not know and not feel bad that I have to look anything up. The second thing I believe I will use is the lists I was very interested on learning these I believe I will use them in school and in work. I will be making proposals and writing letters to people that will need to explain things with lists.

IB Chemistry Lab Design †compare the effect of temperature on the concentrations of Vitamin C and Vitamin A in solution Essay

Research QuestionTo correspond the effect of temperature on the densitys of Vitamin C and Vitamin A in firmness of purpose.Background disciplineMany researchers claim that the vitamin content in the food we eat decr liberalisations as we cook the food, since it is being exposed to high temperatures. This really intrigued me since cooking is ace of my hobbies, and I always try and check the nutritional value of meals that I cook.With this in mind, it was quintessential for me to see for myself if these claims hold true. To narrow the scope of the investigation, I chose Vitamins A and C to do this study upon.The claims state that the enzyme in whose form Vitamin C is found, gets denatured (or oxidised) at temperatures over 70C as well as at low temperatures, in the freezer. Also, studies claim that Vitamin A (in the form of retinol) gets oxidised at high temperatures, during cooking. Once these vitamins get oxidised, they are lost to us. This investigation will compare the effects of high temperature on Vitamin A and Vitamin C firmness of purposes.http//chemmovies.unl.edu/chemistry/smallscale/SSGifs/SS054Ascorbic.gifThe ascorbic stinging enzyme gets denatured at high temperatures because the tertiary structure of the protein, which the enzyme is made up of, unravels, ca utilize the active site of the enzyme to convert in shape. This leads to the substrate being unable to fit into the active site, and we say that the enzyme is denatured. This denaturing evict take place at extremes of pH too.The Vitamin A (retinol) gets oxidised because, at high temperatures, it reacts with oxygen in the air to form a carboxylic acid (retinoic acid).In the laboratory, ascorbic acid found in fruits and vegetables can be simulated by tack oning ascorbic acid crystals to wet, to form a mildly acidic dissolvent. This solution can also be used as the standard solution during titration to find niggardness of ascorbic acid. To simulate Vitamin A, we can simply add retinol to water to form a standard solution.HypothesisAt higher temperatures, both the stringency of Vitamin C and Vitamin A can be expected to decrease. However, I expect the decrease to be greater in the event of the Vitamin C solution since (having protein-like properties) it is more(prenominal) sensitive to extremes of temperature. Also, the alcohol retinol has a high boiling point, so I believe that it will be more resistant to oxidation too.VariablesIndependent VariableWhy and How it is ChangedTemperature to which the Vitamin C/A solution is heatedThe factor whose effect is being studied on the niggardness of Vitamin C/A in a solution is the temperature the solution is heated to. Therefore, the temperature is the independent variable. In order to change the temperature, equal quantities of the identical Vitamin C/A solution are heated to different temperatures. The different temperatures taken are 30C, 50C, 70C and 90C. As a control, one solution is placed at live temperature. A thermometer is used to measure the temperature of the solution. Investigation at each temperature will be repeated 3 times, to go over reliability.Dependent VariableWhy and How it is RecordedConcentration of Vitamin C/A in solution (in mol dm-3), after exposure to temperatureThe effect of temperature on the concentration of Vitamin C/A in a solution is being studied, thus the concentration is the dependent variable. As the temperature moves further away from room temperature (above or below) the concentration of Vitamin C/A in the solution should decrease due to denaturing or oxidation. The concentration of Vitamin C is work out by doing an single titration. A starch solution is added to a standard Vitamin C solution which is the titrant. Into this, a solution of potassium iodide and potassium iodate is titrated till a blue colour is obtained (end point). This is repeated thrice. The average batch of iodine solution used is calculated, and divided by the concentration of Vitam in C.Then, the solutions of unknown concentrations are titrated and unitary method is used to calculate their concentrations. The concentration of Vitamin A is calculated using a redox titration. This is done by making a solution of acid dichromate, potassium iodide and starch. This is titrated against a solution of sodium thiosulfate of known concentration. The slew of thiosulfate used is noted. Then, the Vitamin A solutions are added to a similar solution of dichromate, KI and starch, and titration is carried out with thiosulfate. For every 1 less rampart of thiosulfate used there is 0.25 mole of alcohol in the sample (according to the chemical equations) which was tested.Controlled VariableWhy and How it is MaintainedpH of Vitamin solutionExtremes of pH can also lead to the denaturing of enzymes, so if pH changes it will interfere with the results, potentially giving inaccurate results. Thus, the pH needs to be kept a constant. This can be done by adding a few drops of acidic b uffer to the initial solution.Presence of AntioxidantsAntioxidants including salts such as sodium chloride tend to protect ascorbic acid from being oxidised, and thus their presence whitethorn lead to inaccurate results. Thus, they need to be eliminated. This can be done by using distilled water (without any salts) while preparing the solution of ascorbic acid.Head dummy Present in SystemThe ascorbic acid gets denatured because of oxidation by air. Thus, if the volume of air present in the system changes, the results will also change invariably. To prevent this, the amount of head space present in the system must be kept constant. This can be done by placing a lid on top of the beaker in which the acid solution is heated.Initial Concentration of Ascorbic Acid solutionIf the initial concentration of ascorbic acid in the solution is different, thus the final concentration will also be affected. This can be avoided by adding the same mass of ascorbic acid to the same volume of water while preparing all the sample solutions.Volume of Ascorbic Acid solutionThe volume of acid solution used for each temperature and each running game should be the same since otherwise it will affect the volume of iodine solution used. Therefore, the volume has to be measured accurately using a pipette for each temperature and trial (each titration).Concentration of starch, potassium iodide and potassium iodate solutionsThe concentration of any of these solutions will affect the volume of solution titrated during each trial. Thus, it needs to be kept a constant. This can be done by ensuring that equal masses of these reagents are added to equal volumes of water, for all the trials.Final temperature of solutionThe final temperature of the solution may affect the concentration of the acid in the solution, as rapid heating and cooling can encourage oxidation. Thus, to avoid errors, the solutions will be allowed to rest till they reach room temperature, and only then will they be titrat ed to calculate concentration.Chemicals1. L-ascorbic acid 3.52 g to make 1 dm3 of 0.002 M solution of acid1. Glucose 50 g to add to acid solution, to simulate fruit juice1. Potassium Iodide 10.0 g to make 1 dm3 iodine solution1. Potassium Iodate 0.536 g to make 1 dm3 iodine solution1. Starch (soluble) 0.25 g to make 50 ml of 0.5% starch solution1. 3.00 M Sulphuric Acid 60 ml to add to iodine solution1. Distilled Water To make all the solutions and washingOther Materials1. Weighing Scale1. Bunsen Burner1. Tripod Stand1. Wire Gauze1. Mortar and Pestle1. pipette Filler1. Lid (for beaker) 41. ThermometerProcedurePreparing Ascorbic Acid Solution of concentration 0.002 M1. Measure 3.52 g of L-ascorbic acid using the weigh scale and the weighing boat (which has to be completely dry).1. perplex the weighed crystals in the mortar and use the pestle to crush the crystals into a fine powderize, to aid with dissolving it in water.1. Place the powdered acid into a euchre ml beaker a nd add a little distilled water to dissolve the acid. map the glass rod to stir.1. Once it seems that the acid has fully dissolved, add some more water to the solution, to ensure that all the acid has actually dissolved. Then, transportation system the solution into the 1000 ml standard flask using a washed funnel and the glass rod.1. Wash the beaker with water and pour into standard flask, to come to any remaining solution. Repeat this process 3 times.1. Wash the funnel and the glass rod, letting the water run into the standard flask.1. Make up the solution to the 1000 ml mark. Place the stopper and pleat the solution thoroughly. Transfer approximately 500 ml of this solution to the 500 ml beaker, for ease of use.Preparing the 0.5 % starch solution1. Measure 0.25 g of starch using the weighing scale and weighing boat.1. Bring 50 ml of distilled water nearly to a boil, and then add the measured quantity of starch powder to it. Allow to cool.Preparing the Iodine Solution1. Measu re 10.0 g of potassium iodide and 0.536 g of potassium iodate using the weighing scale and weighing boat. Transfer this to a 500 ml beaker.1. Dissolve the solids in approximately 400 ml of distilled water. Stir using the glass rod, to aid in dissolving. Add the 60 ml of 3.00 M sulphuric acid to the solution at this point.1. Once it seems that the solids have fully dissolved, add some more water to the solution, to ensure that all of it has actually dissolved. Then, transfer the solution into a 1000 ml standard flask, using a washed funnel and the glass rod.1. Wash the beaker with water and pour into standard flask, to remove any remaining solution. Repeat this process 3 times.1. Wash the funnel and the glass rod, letting the water run into the standard flask.1. Make up the solution to the 1000 ml mark. Place the stopper and mix the solution thoroughly. Transfer approximately 500 ml of this solution to a 500 ml beaker, for ease of use.Titration Set-up and Final Steps1. Transfer 65 m l of Vitamin C solution each into 5, 250 ml beakers.1. Keep one of the containers in a trough containing resolve ice (0C). Keep one at room temperature (as a control + standard solution). Heat the other three to 30C, 60C and 90C respectively. Ensure that all the beakers are covered with a lid during heating or cooling.1. Wash the pipette, first using tap water and then distilled water. Rinse the pipette thoroughly with the Vitamin C solution at room temperature.1. Use a pipette to transfer 20 ml of the Vitamin C solution, at room temperature, into a conical flask. This is the standard solution (and the control) since its concentration is known (0.002 M).1. Add 10 drops of the starch solution to the conical flask. Swirl the contents to mix properly.1. Wash the burette with tap water followed by distilled water. Then, rinse the burette with the iodine solution.1. Fill the burette with iodine solution till the 0.0 ml mark.1. titrate the iodine solution into the conical flask, swirling the conical flask at all times. The end point is reached when a blue colour is obtained that persists even after 20 seconds of swirling. Note down the volume of iodine solution used.1. Re-fill the burette to the 0.0 ml mark. Repeat the titration process 2 more times. Note down these two determine for volume of iodine solution used as well. Calculate the average volume used.1. Check that all the solutions that were heated (or cooled) have reached room temperature, with the help of a thermometer.1. If they have reached room temperature, repeat the entire titration process (steps 18 24) with the other 4 solution (0C, 30C, 60C and 90C). Ensure that the burette is re-filled to the 0.0 ml mark after each and every titration, and that the pipette is first washed, and then rinsed with the solution that is going to be placed in the conical flask.1. Use unitary method, to calculate the concentration of Vitamin C in each solution, after heating or cooling, using the concentration of the sol ution at room temperature (0.002 M) as the known value.

Reaction Paper Leadership Essay

Leaders be made and not born. Leadership skills slew be thought to anyone who is willing and given an probability to lead an organization. It is important acquire someone to continue the goals of a connection. There are some qualities a great leader should have Be material when you are week This is very important for developing a leader. You need to give them the opportunity to grow strong and they will learn from their own bed in leadershiphip especially when a leader is weak, he has no choice but to become strong. Be brave when you are scared Risks are very essential in business. You need to be brave to take risks. In developing a leader, it might be risky because they might smash their tasks but learning takes time and someone needs to experience failure in order to succeed. Be humble when you are victorious Executive leaders dont shout their success, instead they remain humble and silent. The more you show your achievements, the more slew will envy you and will try t o remove you. A few days ago, I had this opportunity to attend a gathering with successful sales manhood.We played dice game and everyone is aiming for the first value. Theirs this one man beside me, he said that he didnt want to get the first price because he didnt want too much greedy, any price will do. I knew this guy as a successful man but he dress and live very simple. The moral lesson I well-read is that you dont need to be greedy and live elegant in life, you just need to block humble. As a leader, you need to stay humble to your employees. The business world is very crucial place and having too much pride and envy will not earn you anything. Sometimes when the company has too much greediness, they will became impromptu in investing without thinking further and this might became the cause of their downfall. Look at the mirror and not on the window a great leader dont need to hear negative feedbacks form others, they look at their self and improve.Other people might tel l you that you cant achieve anything in life or other people will judge you. The important is that you know yourself that you can reach you goals and if ever they judge your capabilities, prove it to them that their wrong. You cantexplain to everyone that why they shouldnt judge you, instead make this as your motivation to change over others belief on you. A great leader is honest of what he/she is capable of. You dont need to pretend of what you have and promise to a person, you will just break peoples trust on you. Trust is your most important assent Great companies expands and continually growing because of the people who trust them. They use this trust to get investors and stock holders. They trust this companies that they will became successful someday. Leaders need to gain trust from their employees. If your employees dont trust you, they will not follow your advice and your commands.

Ltcm (Long Term Capital Management)

Workshop 2, week 3 Syndicate 1 1. The collapse of Trio Capital demonstrated the focal point in which hedge monetary resource and bullion of hedge funds can be oerly complex, unclear and lacking in transparency, particularly for retail investors. a. in picture summarise what has happened in the case of Trio Capital last year in 2012 in Australia The collapse of Trio Capital is the biggest superannuation fraud in Australian history. Trio Capital was the trustee of a numbers of super funds governed by the APRA (Ryan, S. , 2011).It to a fault had a number of managed coronation schemes, like ARP harvest-feast Fund and Astarra Strategic Fund. An American lawyer, Jack Flader, controlled the hedge funds in the Caribbean in behalf of the company with the $180 million from Trio Capitals schemes (Ryan, S. , 2011). When those funds collapsed, Australian investors funds disappeared. The company had very poor corporate governance, and at least one of the directors had fraudulent conduct an d has gone to jail (Ryan, S. , 2011). Liquidators take away commemorate $300 million assets, but more(prenominal) than $ 200million are still missing (Ryan, S. 2011). More than 6000 investors lost money and some of them lost their entire retirement savings (Ryan, S. , 2011). And 5000 of those investors share $55 million taxpayer-funded levy to compensate the loss (Ryan, S. , 2011). However more than 600 investors ordain not get any compensation beca mathematical function the hedged funds they invested were self- managed and not governed by the APRA (Ryan, S. , 2011). 2. Discuss the regulations that were in place with regard to hedge funds in Australia and what the changes that are in place are.Firstly, Lacking of universal rendering of hedge funds has been a conundrum. Hedge funds have five unique characteristics defined by the regulations. According to Class Order CO 12/749 replacement from the hornswoggleer PDS regime, a responsible for(p) entity using expression of hedge funds must exhibit two or more characteristics from the following list (i) Use of enthronement strategies intended to generate returns with low correlation to equity and bond indices and/or complex investment organizes (ASIC, 2012) (ii) Use of everage to increase returns (ASIC, 2012) (iii) Use of derivatives for speculative purposes (ASIC, 2012) (iv) Use of short selling (ASIC, 2012) or (v) Performance fees (in contrast to fees based on funds under management (FUM)) (ASIC, 2012). However, after the scale collapse of Trio Capital and some other funds, hedge funds mangers might try to avoid labelled as hedge funds due to poor reputation.Secondly, improving disclosure promote more efficient capital market, help disclosure relevant information, reduce the possibility of omitting important information, concentrated on the information need of the investors, and be flexible to reconcile investors information needs changes (ASIC, 2012). Under Corporations Act. 3 Pt 7. 9 requires the Product Disclosure Statement need to be prepared to the offer of interests, and ongoing disclosure obligation and requirements on advertising and publicity for the offer of interests(ASIC, 2012) .In detail, PDS must (a) Be worded and presented in a clear, concise and effective manner (s1013C(3)) (ASIC, 2012) (b) Make specific disclosures (s1013D), including among other things about the significant risks associated with holding the product (ASIC, 2012) and (c) Include only other information that might reasonably be expected to have a strong entrance on the decision of a reasonable person (when investing as a retail lymph node) about whether or not to invest in the product (s1013E) (ASIC, 2012).In addition, Ch 5C has further requirements on hedge funds, including the registration need to be label as a managed investment scheme operated by a responsible entity which holds an Australian financial services (AFS) licence, and to have a scheme constitution and compliance plan (ASIC, 20 12). 3. Describe the roles of investment banks and merchant banks, with an emphasis on the constitution of their off -balance-sheet disdain, in particular mergers and sciences. The merge and acquisition services income of the investment banks and merchant banks are large.In 2003 the total amount of advisory fees that charged exceeded $596 million in USA, suggesting that investment banks earned a significant amount of income for providing M&A advice (Walter, Yawson & Yeung, 2007). The advisory services offered by investment banks usually related to various aspects of the acquisition and sale of company and assets such as business valuation, negotiation, pricing and structuring of transactions, and procedure and implementation (Water, et al. , 2007).One of the most important analyses is called dilution analysis, which requires updated skills about M & A account. Investment banks also provide fairness opinions which usually involve documents attesting to the fairness of a transacti on (Water, et al. , 2007). In some cases, firms interested in M & A advice will come home an investment bank directly to figure out a transaction in mind. However, in the majority cases, investment banks will pitch ideas to potential clients.After a full general introduction of investment banks services in merger and acquisition, the specific roles will be provided below First, investment bank plays an advisory role for both buyers and sellers. When investment bank takes the role of an advisor to potential sellers, this is named as a sell-side engagement (Water, et al. , 2007). On another hand, when investment banks act as an advisor to the acquirers, this is called a buy-side grant (Water, et al. , 2007). Other services include advising clients on hostile takeovers, joint ventures, h, buyouts and takeover defense.Secondly, investment bank also plays a due application role. Due diligence means gathering, analyzing and interpreting the target companys financial information, comp ared with its historical and projected financial results, assessing potential synergies and evaluating operations to identify opportunities and challenges (Water, et al. , 2007). Due diligence is utilise to investigate the risk and give client a straightforward financial picture of the acquiring company. Clear the benefits and challenges of the transaction.Off balance sheet business means the business involved an asset or debt or financing activity is not record on the companys balance sheet (Wikipedia, 2013). For example, financial institutions have business like asset management or brokage service to their clients. The assets (often securities) usually belong to the clients directly or in trust, the company has no direct call to these assets or has no direct obligation to these liabilities (Wikipedia, 2013). The company usually has responsible for some fiduciary duties to the client.Financial institutions may report off balance sheet items in their accounting statements or may also refer to assets under management on off balance sheet items. Under current accounting rules, the accounting distinction between on and off-balance sheet items are quiet detailed and depend on the degree of management (Wikipedia, 2013). In this case, investment banks help buyers and sellers to process the transaction in merge and acquisition. The assets and liabilities involved in merge and acquisition is directly controlled by the buyers and sellers rather than the investment banks.Hence these assets or liabilities should be recorded on the off-balance sheet of the investment banks. Syndicate 2 1. Describe the key factors, strategies that led to and the lessons learned from the demise of Long Term capital Management. Provide a brief summary of what happened and what were the strategies used by the fund. ( ,reference reading , reading ) Summary of what happened Long-Term Capital Management was a hedge fund management company that involves absolute-return affair strategies acco mpany with high leverage nature.The firms key hedge fund which called Long-Term Capital Portfolio initially succussed with after fees yearly returns over 40% in its archetypal years. However due to the influences from Russia financial crisis and its high leverage, in 1998 it lost $4. 6 billion in less than four months. There were a all-embracing stray of companies and individuals affected by LTCMs loss. In order to prevent chain reaction, Federal Reserves financial intervention and other companies taken over required and the company closed down in early 2000. The strategiesInitially, the company use complex mathematical model to analyse fined income bond to demonstrate controlling parcel out (usually pick up American, Japan and European government bond) Government bond is a term contract, which means in the future, at a unyielding time, they will receive a fixed amount money. When the bond firstly issued, the difference of price has been minimised. Hence, according to economic theory, any price gasp will be fulfilled by arbitrary. The price difference between 30 years government bond and 29 times 9 month sustain should be very small. And both of them will be mature about 30years later.However these two bonds will have slightly difference due to liquidity difference. So through a serious of financial techniques, buy 29 year 9 month bond and sell 30 years bond forward the 30 years bond just issued, the profit becomes possible (Edwards, F. R. , 1999). But using the price difference and arbitrary was not sustainable. Hence the LTCM must use high leverage to generate more returns. In 1998, the company only had 47. 2 billion by them self, but financed funds about 1245 to 1290 billion, which means the leverage ratio exceed 25 (Edwards, F. R. , 1999).And the majority of the funds are invested in derivatives which is extremely risky (Edwards, 1999). Lessons Limited leverage should be required for companies to reduce solvency risk. irresponsible will not sustai nable for the long period. The company lack of sustainable strategy. Disclosure of information is quiet important. This will reduce the investors gambling act and permit them realise the true risk. 2. Refer to the case of LTCM. Imitation is said to be the sincerest form of flattery. What problems does this create in financial markets? Does this cause financial market crises or is it only a problem when a crisis occurs?Problems Leverage ratio exceeds to 25, which is too high. Arbitrary is not sustainable, hence the long term investment strategy is absent. The funds amount is large hence it is difficult to recover the loss. This will increase the possibility of the financial crisis to happen. Because LTCM is extremely high risk company, even though all the companys partners are graduated from worlds leading universities like MIT Harvard, and they have complex mathematic model, but its high leverage financing structure and business activity nature (e. g. edge, derivative) determined L TCM is an extremely high risk company. Those high-educated partners use other persons money to take risk without nominating the true risk. If the principal knows the risk, they might not invest in this company. As one company failure will cause others loss money. If the corresponding investment strategies curb to all the companies in this industry, then the failure will expand to the whole industry, and have various chain reactions. Hence it is not only a problem when financial crisis occur, it actually will becomes the perpetrator to cause the financial crisis. . Explain the structure, roles and operation of managed funds and identify factors that have influenced their rapid growth. Structure the variety of assets is wider analogous as the management styles range. Some portfolios are conservative and some are aggressive. Different structure is aim to achieve different portfolio goals, timeframe and risk tolerance (ASX, 2013). Roles A management fund is a tool for investors to ac cumulate wealth. Managed funds can invest in a portfolio rather than a single warrantor.The portfolio assets include wide range of financial products like domestic shared, international shares, fixed income securities, unlisted private companies and specialist sectors (ASX, 2013). Thereby the diversification of the portfolio reducing the risk of single security falls. withal managed funds can provide professionally managed portfolio to meet the need of customers who do not have time or the skill to manage (ANZ, 2013). Also managed funds can be bought and sold freely on ASX like share, hence the liquidity risk is low, and if you need money you can immediate trade at current price (ASX, 2013).What is more, it could help start at small, which means investor can invest a small amount of money and reach the corresponding diversification as the large amount money (ANZ, 2013). Operation Managed funds invest clients money on the behalf of clients. They generally put same appetite clients money together to the selected portfolio (ANZ, 2013). The portfolio assets include wide range of financial products like domestic shared, international shares, fixed income securities, unlisted private companies and specialist sectors (ANZ, 2013). Factors influence their rapid growthThere are four factors influence its rapid growth. Firstly, entry, exit and ongoing management fees reduce the return (ANZ, 2013). Secondly, diversification can verge portfolio risk but it may also dilute profits (ANZ, 2013). Thirdly, there might be more tax payment compared with funds managed by client themselves, or more adjustments made by the portfolio manager, more tax applies (ANZ, 2013). Fourthly, the owner lost control of the money (ANZ, 2013). Losing control of your money others may be involved in making decisions regarding where your money is invested. Reference ListANZ. (2013, March 15th). Managed monetary resource. Retrieved from http//www. anz. com/personal/ways-bank/work-life-financial/ personal-finance/managed-funds/ ASIC (2012, September). Hedge funds Improving disclosure. Retrieved fromhttp//www. asic. gov. au/asic/pdflib. nsf/LookupByFileName/RIS-hedge-funds-published-18-September-2012. pdf/$file/RIS-hedge-funds-published-18-September-2012. pdf ASX. (2013) Managed Funds. Retrieved from http//www. asx. com. au/products/managed-funds. htm Edwards, F. R. (1999) Hedge Funds and the Collapse of Long Term Capital Management, Journal of Economics

Black History Essay

The events which transpired five thousand historic period ago Five years ago or five minutes ago, grow determined what will happen five minutes from now five years from now or five thousand years from now. All story is a current event (John Henrik Clarke). These were the words of the awe inspiring pan African American writer, professor, and historian John Henrik Clarke. Being that of a well educated intellectual, John Henrik Clarke argued for the origin of down in the mouth history as well as of its splendour.During Clarkes age, January 1, 1915 to July 16, 1998, he became a very respected historian for his thrusting for the importance of Africana Studies. The African American community saw him as an influential powerhouse as he portrayed and pi mavinered the formation of Africana studies in the United States. Mevery argued that African and African American history was not worthy of being studied but Clarke had his morals set former(a)wise. His role as an activist drove him t o take exception academic historians to alter the way African and African American history was taught and upliftn throughout the U.S. Though some would dismiss his views and denounce the importance of the inglorious community, he fought back illuminating the biases Eurocentric views has upon our society in the U. S. Clarke was a role model to many an(prenominal) afroncentric views because of his leadership in redressing racist suppressions among African and African American history that was taught by traditional scholars. John Henrik Clarkes accomplishments were great motivations for the advancement of subdued sanction with the United States tribe. In the film describing the life of Ida B. come up, A cult for unspoiledice, Wells was also a t from each wizarder in the empowerment of the African gloss. Her commonalities with that of John Henrik Clarkes were one in the same. some(prenominal)(prenominal) scholars sought for the par of African Americans through history in a Eurocentric based nation. Wells had power in the press, and was formally known as the Princess of the Press. She had the power to change the ideals and views that Africans and white people had to a more than afrocentric based thought. Her journal entries and news articles inspired many African Americans to leave the south and start boycotting for their rights as citizens.Both John Henrik Clarke and Ida B. Wells had one major thing in common, the power of the pen. Both leaders in the glowering Power Movement, these two writers knew they could enrich the black culture by validating to them their history, and the way they are treated in society. Wells and Clarke wanted to show their fellow African Americans that they should not be afraid of the nation they live in, and that they should be treated with respect and equality. At one point during her tenure, Wells was forcefully asked to get off a train that she was on.She fought the racism by taking a carrel and declining the mans com mand. The case was taken to court and although the court was in favor of the white man, Wells exhibited true courage to excite against racist demands. Wells deeds organize her into a role model and praised icon African Americans started to see how unfairly they are treated and began listening to Wells words of boost for the power of the scorch culture in the U. S. Likewise, Clarkes action to form black power through teaching history was also an inspiration to fight for their rights.Another film, The Spirit of Allensworth, was a focus on Lietenant Colonel Allen Allensworth. Allensworth was a very influential African American man who initially was a man natural into slavery. His drive to become something rather then a slave kick upstairsed him to escape and educate himself illegally. He was then qualified to join the army and seek that African Americans are worthy of this nation and showed the black culture that their race can furthermore aid to the success of the United States . Just like Clarkes push for black empowerment, Allensworth wanted to uplift the African American spirits and bring equality.Through this, Allensworth was able to create and establish the town of Allensworth, of course named after himself. Clarke and Allensworth both supported the study of the black culture and had similarities in being the set in motioners of black empowerment. In the book Black Women in blanched America, by Greta Lerner, Lerner portrays unlike incidents and situations that mainly black African American women had had to go through in this white based nation. One quote expressed that In black womens liberation we dont want to be equal with men, just like in black liberation were not fighting to be equal with the white man.Were fighting for the right to be different and not be punished for it. Equal means sameness, (Black Women in uninfected America, pg. 608). This quote furthermore exhibits that the injustice that black women must tolerate is not just a matter o f becoming equal with men and whites, but a symbol of being who we are, and ultimately being accepted for it. It is a portrayal of proving that each and every per boy is different and not the same, yet in regulate to live and prosper, we must have different qualities and talents that champion our nation thrive.Going back to John Henrik Clarkes notion, all he wanted was to display how that from scholarship from our past(a) helps to embellish our American will and culture altogether. By learning history from all different cultures pasts, this can, in the future, help our nation become more advanced. But in turn, there are always those people who do not want to accept others for being different then themselves. Many African Americans, Used to think that there was hope, that maybe black and white people together could solve all the problems.But I the recent years I learned it is not true I think that black people now have to go back to what I call the reconstruction days in order t hat black people will be able to arise in dignity and freedom. Because there is no way for the son of a slave to stand up to a son of a master and be two people together- because the psychological position of both parties is unflustered that one is slave and one is master. And it does not change. Black people have to get freedom for themselves it cannot be given to them (Black Women in fresh America, pg.555).As one can see, Clarkes incentives are expressed throughout this quote. Because some cannot see past ones book cover, then others must prove their worth to become accepted. It is not fair to the black culture but if Africans do not step up to the plate and submit their rights, their power will just then be pushed further back. John Henrik Clarke fought for black empowerment, and his accomplishments are an inspiration too many African Americans to take a positive degree step forward in black power advancement.The book From Slavery to Freedom, by John Hope Franklin, acknowled ges The discourse of black troops throughout the war reflected how entrapped African Americans were in a Jim Crow society, no matter how vital or brave their service Blacks were subjected to racial insults African American soldiers vigorously protested these and other insults to their officers and, through letters to newspapers, to the American public Most exercised restraint, however, enduring insults and mistreatment in the belief that by demonstrating an indifference to racism, as well as by showing their patriotism, they would strengthen their races claims to equal treatment (From Slavery to Freedom, pg. 331).This relates to Clarkes approach towards seeking a positive change in the African American society within the United States. Blacks, no matter how good their deeds were, were still subjected to racial insults. The quality of black troops aiding in the American infantry portrays progressing black empowerment within the American culture.By stepping forth, like John Henrik Cl arke, and proving their worth, these black soldiers become role models to other blacks and every other race as well to show how through toil and suffrage, they were still helpful in their nations success. African Americans were very prominent in the military and, Performed all kinds of services in the union army.Organized into raiding parties, they were sent through Confederate lines to land fortifications and supplies. Since they knew grey country sides better than most white soldiers and could pass themselves off as slaves, they were extensively use as spies and scouts. White officers relied upon information secured by black spies (From Slavery to Freedom, pg. 239). Without the help from black soldiers, the confederate army would have had the upper hand in the south.The former slaves knowledge from their past, helped to defeat enemy lines and furthermore help out the norths prosperity. Because of the assistant from the former African American slaves, their freedom the south and cultural empowerment was escalated. This kind of knowledge helped to determine Clarkes way of proving African Americans value in their past history. The text by Lawrence Graham, Our Kind of hoi polloi, engages in the more privileged black community in the U. S. Free blacks in the South were generally required to carry papers proving that they were not slaves and were required to register annually in their counties, tilt their white guardians.However they were permitted to work for money and to own property, thus creating the first opportunity for blacks to establish their families with some moderate wealth (Our Kind of People, pg. 8). This furthermore exemplifies the push that former slaves had strived towards in order to gain freedom and obtain financial support for themselves.Though starting at the bottom with nothing, newly freed African Americans were able to establish themselves and their families by working. Like stated before, becoming equal with the whites was not going to come easy or fair, but with work and help from each other, progressing towards African cultural empowerment was going to be inevitable. When slaves were brought to Washington, a large concentration of them lived and worked in the Georgetown area.From there, they built roads and erected many of the government buildings and monuments. In the 1790s, benjamin Banneker, a free black man, surveyed the city and designed the grid for the citys main avenues and streets (Our Kind of People, pg. 219). Washington is of much importance to our country, and without the contributions of the freed slaves, many of the nations governments buildings and roads would have not been built during that sentence. In turn, this also exemplifies the impact even one African American had upon society. Just like everyone else or ever a white person, it was a black man that helped to design the basis of the citys mainframe.Again, with the knowledge and help from African American history, in the eyes of John Henr ik Clarke, more good to this nation is preformed. Though African Americans fought their way to freedom, Their incomes, however substantial, and status, however high ranking, did not plate them from the ugly sting of racism, which is likely to never be completely rooted out in this country (Jason Donovan). As much as racism is a terrible factor to have upon our society, their will always be those who will not let it go and as black empowerment keeps progressing forward, the American culture will soon phase it out. Looking back in history, We as a people, African-Americans, continue to strive and overcome the struggle.With our multicultural race what you see is not always who we are You may see an African-American man, woman, boy or girl each may have a different tinct on their exterior but their image does not define who they are (Monique Washington). Many are so preoccupied with the color of skin and ones appearance that they are all blinded by what good everyone is capable of doi ng. John Henrik Clarkes aim for African American knowledge is not unavoidably just to learn about Africans, but to teach of how many black Americans helped to contribute to Americas good mass and personality. America is mixed with every kind of culture and without the history of blacks our nation would not be where it would be today.After decades of silently enduring second-class citizenship, blacks in the late 1940s and early 1950s began to challenge the injustices they faced on a daily basis. Although segregation in public facilities other than schools was rarely questioned during this time period, blacks were slowly gaining the resolve to finally stand up to Jim Crow (Lisa Cozzens). It is a never ending sequence of fighting racism, prejudice, and inequality, but validates that in time, black empowerment will not be overlooked by America anymore. Just like how John Henrik Clarke stood up for the knowledge of African American studies, It was crucial for blacks to stand up to theu nfair laws of Jim Crow. By fighting these laws, this gave a passageway to show power and courage in the black community, and that the unjustified rules of society can be overpowered by what is morally right. It is exclaimed that, For too many years, black Americans marched and had their heads broken and got shot. They were saying to the country, Look, you guys are supposed to be nice guys and we are only going to do what we are supposed to dowhy do you beat us up, why dont you give us what we ask, why dont you straighten yourselves out? After years of this, we are at almost the same pointbecause we demonstrated from a position of weakness.We cannot be expected any longer to march and have our heads broken in order to say to whites come on, youre nice guys. For you are not nice guys. We have found you out (Stokely Carmichael Black Power). This overall implies the injustice that early whites had put upon the black culture, and the fight back to show strength and not weakness. African s and African Americans alike had taken so much intolerable pain in the past, and is finally standing up to unfair discrimination. It was implied for the longest time that what the white man was doing was right, but have been found out that their actions were in favor of supporting their own benefits, especially that of the southern states.The slavery exhibited through the southern states were awful and inhuman like, but, Despite overall harsh conditions and the absence of freedom, slaves were not just powerless victims of their owners and the slave system though their lives were circumscribed in many significant ways, they sought to make the best of their circumstances. They succeeded to a remarkable extent, a testimonial to the endurance of the human spirit (Pre-Civil War African American Slavery).Black empowerment and the spirits of their ancestors were never fully crushed. Even through the torture seen throughout the history of slavery, there was never giving up hope that one da y life would get better for blacks, and initially everyone in the nation. As it comes closer to the future, black empowerment still continues to advance in culture, race, history, and throughout the American society, but only if African American keep pushing for their rights.Blacks were told that it was up to them to improve their lives. Black Power advocates encouraged blacks to form or join all-black political parties that could provide a formidable power base and offer a foundation for real socioeconomic progress (Black Power Movement). The Black Power cause instilled a sense of racial pride and self-esteem in blacks. Black empowerment will not advance unless people like John Henrik Clarke stand up and portray their knowledge and integrity. John Henrik Clarkes main incentive was to merely educate the world about African history and how everything that happened in the past will always affect our nation and how we all live today.It is seen through the past all the injustice that b lacks suffered through and endured and that in order for that to change, African American pride must step up to the plate and obtain its place in society. African Americans were first brought here to be used and abused, but in turn have helped the advancement of the America itself as well as its culture. It is only right that blacks have a right to power within the nation as well as within themselves. Works Cited Black Power Movement Blacks, Rights, Whites, Civil, White, and Racial. Web. 27 Nov. 2010. . Cozzens, Lisa. Early Civil Rights Struggles Introduction. Www. watson. org. 29 June 1998. Web. 27 Nov. 2010. . Donovan, Jason. Idlewild A Black Eden for African Americans. Michigan Chronicle 13 Oct. 2010 1-2. ProQuest. Web. 27 Nov. 2010.. Franklin, John Hope, and Alfred A. Moss. Chapter 11/Civil War. From Slavery to Freedom a register of African Americans. 8th ed. New York Alfred A. Knopf, 2000. 239. Franklin, John Hope, and Alfred A. Moss. Chapter 15/The Color Line. From Slav ery to Freedom a History of African Americans. 8th ed. New York Alfred A. Knopf, 2000. 331. Graham, Lawrence O. Chapter 1/The Origins of the Black Upper Class. Our Kind of People inside Americas Black Upper Class. New York HarperCollins, 1999. 8. Graham, Lawrence O. Chapter 10/Black Elite in Washington, D. C. Our Kind of People inside Americas Black Upper Class. New York HarperCollins, 1999. 219. Lerner, Gerda.Chapter 9/Race Pride, The Only Thing You Can Aspire to Is Nationhood. Black Women in White America a Documentary History. New York Pantheon, 1972. 555. Lerner, Gerda. Chapter 10/Black Women Speak of Womanhood, I Want the Right to Be Black and Me. Black Women in White America a Documentary History. New York Pantheon, 1972. 608. Pre-Civil War African American Slavery. National Expansion and Reform, 1815-1880. 26 Sept. 2002. Web. 27 Nov. 2010. . Stokely Carmichael Black Power (1966). Encyclop? dia Britannica. New York review of Books, 22 Sept. 1966. Web. 27 Nov. 2010. . Wa shington, Monique. Changing History Is Changing Minds. Los Angeles Sentinel.

British Perspective on the Boston Tea Party Essay

In 1773 parliament passed the tea execute in which the British fix less for tax to ship places. This made the prices of tea lower from Britain. Since Bostons tea would be more expensive nobody would profane it from them. The tea act was just a nonher problem adding up amidst the colonists and britain. This made the colonists want to be independent from Britain. The colonists decided to rebel and dumb tercet hundred and forty ii chests of tea into the Boston Harbor. The act was given the name the Boston afternoon tea Party. Most of the British position of the Boston Tea Party as an act of terrorism. Really the Boston Tea Party was just a nonher step to independence for the colonists.In 1763 the British put a line along the Appalachian Mountains so the the colonists could not move into the Ohio River Valley. This was called the Proclamation Line. The British prohibited the colonists from their f outgrowthing to protect them from the Indians. The colonists who went against the British and crossed the line were later(prenominal) killed by the Indians and then asked for the British to protect them again. When the colonists asked for help they British were still in a lot of debt from the war they fought to protect the colonists. They put British soldiers on the line to protect the colonists. This was a little bit rude of the colonists to try moving into the Ohio River Valley when the British were trying to help them.The fact that the British were sorry the colonists from passing the Appalachian Mountains made them very mad. They looked at it as the British not allowing them to settle into more primer. The colonists were not allowed to buy and live on the land that they fought and won a war for. It was there land and they were macrocosm deprived their right to their own property.The Sugar defend happened in 1764, the next thing to make up the colonists angry. The sugar act put tax on sugar from other countries making it more expensive. The sugar was now more expensive than the British sugar. The British perspective on it was logical because they were in major debt fromthe war they fought for the colonists. They were just hoping that the colonists would by their tea so they could use the money to pay off the debt. They thought they were being fair by not taxing their sugar so the colonists would not have to pay a tax.The way the colonists dictum the Sugar Act was an act of selfishness. The British taxed the tea the colonists used to buy because it was cheaper. The British had no right to tax the colonists. They had no say in how much the tax should be or what it was on. They used sugar eitherday it was completely unfair.In 1765 the British made the Quartering Act. It required for british troops to have to live in the colonists homes when they were stationed in the colonies. The British thought it was only fair for the colonists to take care of their soldiers. Many of those soldeirs fought in the war against the French and Indians . It would cost too much for Britain to pay to build housing for the soldiers.The colonists did not like the Quartering act. They did not want to take care of the soldiers. First of all because the soldiers were the ones from keeping them to get to the rest of their land in the Ohio River Valley. Now they were being forced to take care of the soldiers. Nobody wanted to because they did not even have enough room in their homes. They did not have enough money to clothe and feed them either. The soldiers were very rude to the colonists and kind of scared most of them too.In 1767 a powerful British homosexual named Charles Townshend had the idea of putting taxes on glass, lead, paints, paper, and other everyday products of the colonists. The reason for taxing these products was so Britain could get more money for their g overnment. They also did it for more power over everyone.The colonists did not like the Townshend acts. It was just a way for Britain to take more money. The colonist rebelled just like they did with the quartering and sugar act. They boycotted British products. The trade betweenthem dropped by fifty percent as a result in the boycott. They claimed it was unconstitutional because the colonies did not have any say in the Parliament. The debate wether or not the colonies had represntation in parliament was not settled until the revolution.The Tea Act was passed by the British Parliament in 1773. The British made it so the colonists could not but any tea from any one else besides the East India Company. The East India Company was poor and the British wanted to help them with their business. The tea act made the price of tea lower from the East India Company so everyone would buy from them. They said that it was a benefit to the colonists because they could get tea cheaper now. The tax on the tea was very minimal and they just wanted to put a tax on it to show they have the right to tax.This made the Colonists look at the Tea Act as another taxation without representation situation. It meant they could not buy tea from anyone else and so their tea would lose its business. They were also angry because it went against the side right of only being taxed by the elected representatives not the parliament.The Sons of Liberty were a group of patriots who were dedicated to getting independence for the colonies. They Sons of Liberty Believed in being free. They were a secret group that wanted to fight for America. The group formed when the British Empire became on of the most feared powers in the world. Samuel Adams formed the Sons of Liberty.The British saw the Boston Tea Party as an act of terrorism. They saw it as a group of drunk and crazy people dumping their tea into the capital of Massachusetts Harbor with out paying for it. They completely rebelled against the government and wasted a lot of money after all that the British have done for them.On December 16, 1773 the Sons of Liberty boarded three British ships. They dressed up as Mohawk Indians in order to be able to access the ships. They also had to arm themselves with hatches and axes to make their disguises more believable. They opened and dumped every single chest into the BostonHarbor. This was called the Boston Tea Party. When it was over there were three hundred and forty two wooden chests floating in the water. Many other people boycotted the tea in the same way later on. The colonists did this to show independence.I can fool how the British thought the Boston Tea Party was an act of Terrorism. I believe that the Boston Tea Party was not an act of terrorism. Britain took advantage of the colonists. regular(a) though they tried helping the colonists a few times they still should not have used us to make more money for their government. They should be able to run and take care of their own money issues without taking the colonists money. The colonists were definitely right in taking action and rebelling against the British in every way they could. The Boston Tea Party was just another step closer to the independence of America.

Effective Financial Policy and Procedures

Effective Financial Policies And Procedures Effective Financial Policies and Procedures Medical practices establish financial policies and procedures to bidding patient billing and the ability to collect money for services they provide. Successful billing practices start with thorough financial policies and procedures which explain patients hire responsibilities in ground that are easily understood. An effective medical office financial policy is one that both staff members and practice patients can easily follow and understand.Patients pick out to understand their obligations and staff members need to know what is expected of the patients. All possible situations should be addressed by a good financial policy. This includes financial arrangements and hire plans, payments for services not covered by the insurance company, and a variety of other circumstances. The basic elements of an effective policy should inform patients how particular situations will be handled.Collection of a patients copayment, deductibles and any past-due balances should be addressed as should payment for services that are not covered by a patients insurance company. An effective policy should address how a practice handles prepayment for services they will provide and also any possibility for payment arrangements of unpaid balances on a patients account. If a practice offers charity care or discounts to patients with low incomes/financial need it should be say in the financial policy.Finally, a practices financial policy should state their accepted forms of payment such as cash, checks, money orders, and credit or debit cards. Clear medical office procedures that are consistently followed by staff members help support the offices financial policy. When administrative staff members collect appropriate copayments and other fees as stated in the financial policy, they are helping to support the policy. When staff members become lax in their accrual duties and neglect to follow estab lished office

“A Flowering of faith: Christianity and Buddhism” Essay

There are many similarities in the teachings of messiah and Buddha. Most are discussed specifically in their sermons. With Christianity the sermon was called Sermon on the Mount. Jesus went up a mountainside and spoke to his disciples and the crowds of people. It stated the right ways for us to approach God and to believe with other people. This was a collection of sayings, the Gospel of Matthew, stated by Jesus himself. This sermon, which is located in the sore Testament, is the longest teaching from Jesus. With Buddhism, Gautama Buddha was know as their spiritual leader. He was said to have attained paradise or to have achieved a state where suffering is eliminated through the abandonment of desires. When stated the term, desires, meaning the shake up of suffering.There were many ways to divergentiate the two sermons, but their similarities were much more. When dealing with the religions, both had dissever commandments to abide by. Buddhas, The Noble Eightfold Path, gave the religion eight rights to remember. Two of the rights in example were honorable Speech, avoidance of untruth, slander and swearing, and Right Contemplation, of the truth. In Christianity, The Ten Commandments, was a list of the different rights to acknowledge. In example Thou shalt have no other gods before me and Thou shalt not detach. In the Sermon of the mount, Jesus also stated what he considered the perfect prayer this was called The Lords Prayer. This was simply what you should quote if ever you prayed. In the Sermon at Benares, Buddha listed what was called The Four Noble Truths.These were known as the important principles in Buddhism. The four truths are best understood, not as beliefs, but as categories of experience. They more so discussed what we call cause and effect, i.e. the truth ab step up stress is suffering. When dealing with their similarities the main amour they had in common was the enormous faith in them through their disciples. In conclusion, like Jesus, Th e Buddha set out to teach nothing but good to his people. They both spoke about helping the sick, wisdom, and faith. Their disciples acknowledged them for guidance in life. Although they were two completely different religions, as said before their similarities remained close.

Monopoly and olygopoly Essay

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with amonopsony which relates to a single entitys restrainer of a mart to purchase a good or assistance, and with oligopoly which consists of a a few(prenominal) entities dominating an sedulousness) Monopolies argon thus characterized by a lack of scotch emulation to produce the good or service and a lack of vi adapted substitute goods. The verb monopolize refers to the process by which a company gains the skill to raise hurts or exclude competitors.In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has signifi fecal mattert grocery business office, that is, the federal agency, to charge mellowed prices. Although monopolies whitethorn be big businesses, size is non a characteristic of a monopoly. A sm altogether business may still wee the power to raise prices in a sm any assiduity (or market place). A monopoly i s distinguished from a monopsony, in which on that forefront is only unrivaled buyer of a yield or service a monopoly may similarly watch monopsony control of a sector of a market.Likewise, a monopoly should be distinguished from a stipulation (a public figure of oligopoly), in which several providers act together to coordinate services, prices or sale of goods. Monopolies, monopsonies and oligopolies atomic number 18 all situations such that one or a few of the entities have market power and at that placefore move with their customers (monopoly), suppliers (monopsony) and the some other companies (oligopoly) in ways that leave market interactions distorted. When non coerced legally to do otherwise, monopolies typically maximise their profit by producing fewer goods and selling them at higher prices than would be the case for perfect competitionMonopolies can be established by a government, form naturally, or form by integration. In economics, the idea of monopoly i s important for the study of market structures, which directly concerns normative aspects of economic competition, and provides the basis for topics such asindustrial scheme and economics of regulation. thither are four basic types of market structures by traditional economic summary perfect competition, monopolistic competition, oligopoly and monopoly. A monopoly is a market structure in which a single supplier produces and sells a given product.If in that respect is a single seller in a certain industry and there are not any ending substitutes for the product, whence the market structure is that of a gauzy monopoly. Sometimes, there are many sellers in an industry and/or there exist many close substitutes for the goods organism produced, hardly neverthe slight companies retain some market power. This is termed monopolistic competition, whereas by oligopoly the companies interact strategically. Characteristics avail Maximizer Maximizes meshwork. Price Maker Decides the p rice of the good or product to be sold. High Barriers to Entry another(prenominal) sellers are unable to enter the market of the monopoly. Single seller In a monopoly, there is one seller of the good that produces all the output. Therefore, the whole market is being served by a single company, and for pragmatical purposes, the company is the same as the industry. Price Discrimination A monopolist can change the price and quality of the product. He sells more than(prenominal) quantities charging less price for the product in a very expansible market and sells less quantities charging high price in a less elastic market. Natural monopoly A natural monopoly is a company that experiences increasing re operates to exfoliation over the relevant roll out of output and comparatively high fixed be.A natural monopoly occurs where the average live of production declines throughout the relevant range of product demand. The relevant range of product demand is where the average equal curve is at a pull down place the demand curve. When this situation occurs, it is always cheaper for one large company to supply the market than multiple little companies in fact, absent government intervention in such markets, get out naturally evolve into a monopoly. An early market entrant that takes advantage of the address structure and can expand rapidly can exclude small companies from first appearance and can drive or buy out other companies.A natural monopoly suffers from the same inefficiencies as any other monopoly. Left to its ingest devices, a profit-seeking natural monopoly allowing produce where marginal revenue equals marginal costs. Regulation of natural monopolies is problematic. Government-granted monopoly A government-granted monopoly ( alike called a de jure monopoly) is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or company to be the sole provider of a commodity potential competitors are exclude d from the market by law, regulation, or other mechanisms of government enforcementOLIGOPOLY An oligopoly is a market structure in which a few dissipateds dominate. When a market is divided up between a few firms, it is said to be highly concentrated. Although only a few firms dominate, it is possible that many small firms may also operate in the market. For example, major airlines same(p) British Airways (BA) and Air Franceoperate their routes with only a few close competitors, just there are also many small airlines catering for the holidaymaker or offering specialist services. Concentration ratios.Oligopolies may be identified using concentration ratios, which measure the proportion of total market share controlled by a given number of firms. When there is a high concentration ratio in an industry, economiststend to identify the industry as an oligopoly. Characteristics Profit maximization conditions An oligopoly maximizes profits by producing where marginal revenue equals ma rginal costs. Ability to even up price Oligopolies are price setters rather than price takers. Entry and exit Barriers to entry are high.3 The near important barriers are economies of scale, patents, access to expensive and complex technology, and strategic actions by incumbent firms designed to reject or destroy nascent firms. Additional sources of barriers to entry often result from government regulation favoring actual firms qualification it difficult for brisk firms to enter the market. Number of firms Few a devolveful of sellers. 3 There are so few firms that the actions of one firm can influence the actions of the other firms. 5 Long run profits Oligopolies can retain long run abnormal profits.High barriers of entry prevent sideline firms from entering market to capture excess profits. Product antitheticiation Product may be homogeneous (steel) or differentiated (automobiles). Perfect familiarity Assumptions about perfect knowledge vary but the knowledge of n on-homogeneous economic factors can be generally described as selective. Oligopolies have perfect knowledge of their own cost and demand expires but their inter-firm information may be incomplete. Buyers have only imperfect knowledge as to price, cost and product quality. Interdependence The distinctive feature of an oligopoly is mutuality.Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions. Therefore the competing firms will be aware of a firms market actions and will respond appropriately. This meaning that in contemplating a market action, a firm must take into consideration the possible reactions of all competing firms and the firms countermoves. It is very much like a game of chess or pool in which a player must anticipate a whole sequence of moves and countermoves in determining how to strive his or her objectives.For example, an oligopoly considering a price reduction may wish to estimate the likelihood that competing firms would also lower their prices and possibly trigger a ruinous price war. Or if the firm is considering a price increase, it may want to know whether other firms will also increase prices or hold existing prices constant. This high degree of interdependence and need to be aware of what other firms are doing or might do is to be contrasted with lack of interdependence in other market structures.In a perfectly warring (PC) market there is zero interdependence because no firm is large enough to affect market price. All firms in a PC market are price takers, as current market selling price can be followed predictably to maximize short-term profits. In a monopoly, there are no competitors to be concerned about. In a monopolistically-competitive market, each firms cause on market conditions is so negligible as to be safely ignored by competitors. Non-Price ambition Oligopolies tend to compete on terms other than price.Loyalty schemes, advertisement, and product dif ferentiation are all examples of non-price competition. Advantages of Oligopoly Big Businesses Gain Massive Profits One of the greatest advantages that occurs from an oligopoly is for the few businesses which control the market for a product or service to build large profits due to reduced sales costs. If honest a few companies are in control of the market, the companies have limited competition. It is able to reduce the costs of sales, advertising, promotion and public relations because there is very limited competition to pull the customers away.These reductions in cost can allow the companies in the oligopoly to build larger profits than they would have earned if there were more competitiors. Ability to Determine Prices. Instead of having to keep up with the market, the oligopolies essentially control the market. Unlike other markets where there are more competitiors, the companies in an oligopoly are less concerned about what other companies charge. They are able to establish prices for goods that people want and need based on what the companies in the oligopoly want to charge. Long limit Profits.These companies not only make massive profits, but they are able to retain them for the long haul. It takes a long time and a lot of money for a company to work its way into being a major supplier and part of the oligopoly. During this time, the existing oligopoly companies are able to maintain their profits. Disadvantages of Oligopoly Power in the Hands of a Few. If only a few companies control the availability of a specific product or service, these companies control everything about those products what they look like, what they cost and how they are sold.Putting this power in the hand of a few companies takes away the normal influences of the market and the consumer. The market and the consumer are now totally relying on the companies to make the right decisions, even during periods of market unrest such as limited availability of a specific component, or e scalating prices of raw solids. When the wealth is concentrated in the hands of a few companies, smaller businesses have a harder time being seen as a powerful player in the market. They would have to spend a lot of advertising and sales money to compete with the large powerful oligopoly companies. Creativity.When the knowledge and awareness of a product or service is concentrated in just a few companies, it can be difficult for new ideas to come into play. The existing companies may decide to minimize new products and new distribution methods since they are happy with their current processes and they dont have any motivation to be competitive by lowering prices or introducing new products or processes. For the individual consumer this lack of creativity leads to out-of-date products and services. Setting Prices. These big businesses have the power to determine what the prices will be, without any concern for competition.This is a negative for the consumer and for other businesse s. The whole idea of competitive pricing is thrown out the window when these businesses go about their pricing practices. As you can probably see, oligopolies appear to be beneficial for the companies involved in them, but not so great for the other businesses and consumers in the caller. GLOBALISATION Globalization (or globalisation) is the process of worldwide integration arising from the interchange of world catch up withs, products, ideas, and other aspects of culture.Globalization describes the interplay across cultures of macro- friendly forces. These forces include religion, politics, and economics. Globalization can choke and universalize the characteristics of a local group. Advances in transportation andtelecommunications infrastructure, including the rise of the Internet, are major factors in globalization, generating gain ground interdependence of economic and cultural activities. Though several scholars place the origins of globalization in modern times, others v estige its history long before the European age of discoveryand voyages to the New World.Some even trace the origins to the ternary millennium BCE. Since the beginning of the 20th century, the pace of globalization has proceeded at an rapid rate. Benefits of Globalisation By purchase products from other nations customers are offered a much wider choice of goods and services. Creates competition for local firms and thus keeps costs down. Globalisation promotes specialisation. Countries can begin to specialise in those products they are best at making. sparing Interdependence among different nations can build improved political and favorable links. Drawbacks of Globalisation. Cheap imports from developing nations could lead to unemployment in actual countries where the cost of production is high. Choosing to specialise in certain products may lead to unemployment in other sectors which are not prioritised. Increased competition for infant industry. Dumping of goods by cert ain countries at below cost price may harm industries in order countries. Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-bordermovement of goods, service, technology and capital.Whereas the globalization of business is centered around the diminution of international trade regulations as surface as tariffs, taxes, and other impediments that suppresses global trade, economic globalization is the process of increasing economic integration between countries, leading to the takings of a global marketplace or a single world market. Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon. Economic globalization comprises the globalization of production, markets, competition, technology, and corporations and industries.Current globalization trends can be for the most part accounted for by developed economies integrating with less developed eco nomies, by means of foreign direct investment, the reduction of trade barriers as well as other economic reforms and, in many cases, immigration. Support and criticism Reactions to processes contributing to globalization have varied widely with a history as long as extraterritorial contact and trade. philosophical differences regarding the costs and benefits of such processes give rise to a broad-range of ideologies and social movements.Proponents of economic crop, expansion and development, in general, view globalizing processes as desirable or necessary to the well-being of human society209 Antagonists view one or more globalizing processes as detrimental to social well-being on a global or local scale209 this includes those who question either the social or natural sustainability of long-term and continuous economic expansion, the social morphologic difference caused by these processes, and the colonial, Imperialistic, orhegemonic ethnocentrism, cultural assimilation and cultur al appropriation that underlie such processes.The basic function of economy system Every economic system provides solutions to four questions what goods and services will be produced how they will be produced for whom they will be produced and how they will be allocated between consumption (for present use) and investment (for futurity use). In a decentralized (usually private enterprise) economic system, these questions are resolved, and economic coordination is achieved, through the price mechanism. apportionment Competitive markets not corporate-dominated oligopolies can perform well here so long as side-effects, such as externalities, are incorporated into prices.Ecological economists recognize a legitimate role of the market in society based on the efficiency of allocation of resources. A major improvement in markets includes the side-effects, so markets tell the ecological and social truth. However, pollution provides a subsidy to firms who would otherwise have to clean up their mess. They are easy to hide, hard to number, so they persist. This is called a market failure. If markets fail, this means becomes a central point of contention. ESS thus should make a big deal over market failure, which then becomes an institutional failure. Externalities.An externality is a consequence, positive or negative, of an economic activity that affects other parties without this affect being incorporated into market prices. Thus, market price deviates from the true social cost, sending the wrong signal. Note also the subtle linguistic trivialization. Interestingly, the economics profession has long neglected to assess the size or significance of externalities or to calculate the damages perpetrated on its victims, who by definition had these harms inflicted upon them without their participation-despite the obvious dysfunctions of industrialization and urbanization.Indeed, the bias of public policy in the the States has been to protect the producers, not the publi c at large. Daly comments on the trivialization of externalities by neoclassical economics When progressively vital facts, including the very capacity of the earth to support life, have to be treated as externalities, then it is past time to change the basic framework of our thinking so that we can treat these unfavourable issues internally and centrally. Global Fairness Read Sachs and grasp his message. This is authentic social ecology. Without a grand social contract, cooperation between the Global North and the Global South will fail.The results will be disastrous. Sachs realizes that copycat development, the takings of the economic development practices of the global rich, will surely lead to global ruin more leanness within vast ecological catastrophe. Orthodox western economics can neither be all-inclusive to the majority of the earths human inhabitants nor can it be sustained indefinitely by the 20% or so who enjoy its cornucopia. Sachs reveals the parasitical political character of global capitalism masquerading as shared economic development. The USA enjoys the opportunity to provide leadership here, but this honorable authority has been squandered.ESS requires such leadership, soon. A good place to start is Africa. Brown provides much insight here. Left to itself, a market society will produce large maldistributions in wealth and income. In practice, the market-driven returns to capital, as profits and capital gains, come down to the wealthy few, the capitalist class, while the returns to labor, wages and salaries, go to a multitude, the working class. This dynamic produces a class-based inequality of both wealth and income, which translates into differential political power.In the past, the inequalities were mitigated by redistributive tax policiesanathema to neo-liberalism, as exhibited by the recent Bush tax cuts. In the era of economic globalization, inequality has grown acutely within nations, including the USA, and on the global scene. Yet, economists regard this normative concern as outside the ken of scientific economics. Therefore, when issues of social justice are openly discussed in the context of sustainable development, do not turn to economics for insight.The usual deflection of the fairness discussion,now in play in the USA since the 2006 election, is to promote economic growth. Grow the pie rather than quibble over the size of the slices. But if the ingredients for physical growth become scarce, growth slows down and the quibbles morph into arguments. This can easily spin out of control. Count on it.Innovation harvesting remains the engine of economic globalization without which the system as constituted would crashalthough with runaway material growth earths ecosystems will surely crash. Schumpeter put it this way Capitalism, then, is by nature a form of economic change and not only never is but never can be stationary.Schumpeter derided the textbook picture that depicted economic progress as the resu lt of market-based competition . Rather, he pointed to intromission in products, sources of supply, organization, and technology that created a new context which strikes not at the margins of the profits and the outputs of the existing firms but at their foundations and their very lives . Indeed, Schumpeter foresaw that capitalism itself would fall victim to the turbulent task environment of its own making The capitalist process not only destroys its own institutional framework but it also creates the conditions for another. demolition may not be the right word after all. Perhaps I should have verbalize of transformation . The pivotal move of ESS is to open up a horizon for enormous technical and social progress while maintaining and even restoring harmony with nature. Thus, sustainability offers enormous opportunity. The wording of hope must replace the language of despair. There is real opportunity here. Perverse Subsidies A related topic, rarely brought into view, is the plet hora of perverse, often hidden, subsidies, including externalities, enjoyed by corporations in such established industries as energy, agriculture, and transportation.Not only do these gifts typically promote older, dirtier, less efficient industries, but they also stymie the development of innovative, cleaner alternatives depressing prospects for sustainability. For example, subsidies to cotton farmers in the USA disadvantage cotton cultivators in Africa and subsidies to nuclear power generators present an unfair advantage to start-up wind power producers. These often hidden subsidies undermine economic efficiency and promote environmental damage, but go largely neglected in the economic literature.A study released in 2001 by Norman Myers and Jennifer Kent estimates the global cost of perverse subsidies at two trillion dollars, about 5. 6% of the $35 trillion global economy. The subsidy-rich, environmentally poor Bush-Cheney energy policy was formulated behind closed doors with inpu t from energy giants like Enron but with no public disclosure. Eliminating perverse subsidies must be a first step toward building a sustainable economy. Thus, grappling with perverse subsidies and tilting the market toward renewable resources must be high on an ESS agenda.There are multiple components to economic systems. Decision-making structures of an economy determine the use of economic inputs (the means of production), distribution of output, the direct of centralization in decision-making, and who makes these decisions. Decisions might be carried out byindustrial councils, by a government agency, or by private owners. Some aspects of these structures include Coordination mechanism How information is obtained and used to coordinate economic activity.The two overabundant forms of coordination includeplanning and the market planning can be either centralized or de-centralized, and the two mechanisms are not mutually exclusive. Productive property rights This refers to owner ship (rights to the proceeds of output generated) and control over the use of the means of production. They may be owned privately, by the state, by those who use it, or held in common by society. Incentive system A mechanism for inducing certain economic agents to engage in originative activity it can be based on either material reward (compensation) or moral reward (social prestige).