Procrastination :: Personal Narrative Essays

Procrastination          It is Monday morning and I have slept in, thanks to Thanksgiving. Infact, its twelve oclock and I am exhaust for the afternoon. As usual, I mystify in introductory of the television after I clean myself up, staring endlessly at thescreen with my finger clicking on the remote. I realize that I have a draft dueon Thursday, but I justify my procrastination with reasons like there is unflurriedlots of time.         Life is sudden now, and great deal in the 00s are supposed to organize andplan in order to keep up however, it seems to me that more people areprocrastinating than ever before. When I ask people why they procrastinate, theyoften supply reasons like this task wint take me a long time the instancymakes me to work more efficiently there were emergencies and there were otherimportant things. Some of these reasons sounds legitimate, but I think thesereasons are just excuses for pe oples revere of failure, fear of lost security,and need for pressure.        rear end high school, I had a friend, Eric, who dropped out of schoolbecause of bad grades. As his friend, I knew he was doing fine until the periodof terminal exams. He was a skilful and responsible person which laziness is not afactor of his bad grades. Eric could not pick up the books soon ample beforethe exam because he was afraid of failure. Since Erics older brothers hadachieved excellence academic records and great careers, Eric parents expectedhim to follow his brothers foot step. As the result, Eric was afraid to trybecause he feared to fail his parents expectation. When he know the problem,it was too late.         It is two oclock in the morning. The computer is on, the coffee makeris cooking, and I am under a lot of stress. at that place isnt a lot of time left, Ikeep telling my self as I watch the blank piece of paper in front of me. I knowI can do it, I keep encouraging my self while my mind generates zero ideas formy essay which is due six hours from now.         Everyone I know procrastinates, my friends, relatives, yet people ingovernment. Back in Taipei, the Mayor, Mayor Chen, delayed getting rid of gangsin the city.         I am freeing to issue a insurance policy that will eventually stop gangs fromspreading in our community, promised Mayor Chen of Taipei during his electioncampaign. Mayor Chen won the election, but he didn*t do anything about the gangsProcrastination Personal Narrative Essays Procrastination          It is Monday morning and I have slept in, thanks to Thanksgiving. Infact, its twelve oclock and I am free for the afternoon. As usual, I sit infront of the television after I clean myself up, staring endlessly at thescreen with my finger clicking on the remote. I realize that I have a draft dueon Thursday, but I justify my procrastination with reasons like there is stilllots of time.         Life is faster now, and people in the 00s are supposed to organize andplan in order to keep up however, it seems to me that more people areprocrastinating than ever before. When I ask people why they procrastinate, theyoften supply reasons like this task wont take me a long time the pressuremakes me to work more efficiently there were emergencies and there were otherimportant things. Some of these reasons sounds legitimate, but I think thesereasons are just excuses for peoples fear of failure, fear of lost security,and need for pressure.        Back high school, I had a friend, Eric, who dropped out of schoolbecause of bad grades. As his friend, I knew he was doing fine until the periodof final exams. He was a smart and responsible person which laziness is not afactor of his bad grades. Eric could not pick up the books soon enough beforethe exam because he was afraid of failure. Since Erics older brothers hadachieved excellence academic records and great careers, Eric parents expectedhim to follow his brothers foot step. As the result, Eric was afraid to trybecause he feared to fail his parents expectation. When he realized the problem,it was too late.         It is two oclock in the morning. The computer is on, the coffee makeris cooking, and I am under a lot of stress. There isnt a lot of time left, Ikeep telling my self as I watch the blank piece of paper in front of me. I knowI can do it, I keep encouraging my self while my mind generates zero ideas formy essay which is due six hours from now.         Everyone I know procrastinates, my friends, relatives, even people ingovernment. Back in Taipei, the Mayor, Mayor Chen, delayed getting rid of gangsin the city.         I am going to issue a poli cy that will eventually stop gangs fromspreading in our community, promised Mayor Chen of Taipei during his electioncampaign. Mayor Chen won the election, but he didn*t do anything about the gangs

A Night at Gatsby ´s Mansion :: The Great Gatsby

A Night at Gatsby s Mansion There was a clear combination of the people that went to the party, high society people with lots of money, people with much less money and new rich people. Gatsby s party was the result of an intensified preparation made buy Gatsbys servants. There was a huge amount of the finest food around, tons of alcohol was served and of course that was not problem at solely for there was a transport system for the wasted fellows. This was the perfect place for people to show all their finest suites, it was the place where lights and colors gleamed until daylight, when the last guests left the party. It is dread(a) how people arrived to the party without being invited, they arrived to the mansion, drunk it all, create a huge mess and then left, these where all people who hide themselves under bright colourful dresses, identity was not an important fact at the mansion for it was impossible to determine how people really where due t o the shallowness of them, but this was of no caution to the host for he was never around. As I said people got drunk a created a terrible mess for the servants to clean the day after. What happened immaterial the manor was really a show, people dancing inside the pool, others puking in the bushes, some others trying not to be seen when they consumed drugs, but for our controvert journalist that was impossible for he was very concerned about everything that happened in the party. What might have seemed as the dream party was just an illusion because what really happened at the party was hiding in an underworld of lies, as a matter of fact dirty business where taking place mostly with frequent guests wish Meyer Wolfshier the most known gangster in New

How the Vietnam War Effected the American People and the American Presi

?The Vietnam War was fought during 1960 to 1975. It began as an attempt by Communist guerrillas?in the South to overthrow the ?govern handst of South Vietnam. The struggle widened into a war between South Vietnam and North Vietnam and ultimately led to a international conflict. The linked States and some 40 other countries raiseed South Vietnam by supplying troops and the?USSR and the Peoples Republic of China furnished munitions to North Vietnam and the Vietcong. ?Despite the massive American aid, the VC numbers continued to increase. By November 1961, the VC fighting forces had grown from the ?2,000 fighters that had been left after Diems ruthless anti-Communist ?campaign in 1957, to nearly 16, 000. Regardless of American weapons and money, the VC was winning the support of the villagers.?The US military response to the deteriorating position in South ?Vietnam was to apply more military force. The Joint Chiefs of Staff?wanted six US divisions and 200,000 men sent immediately to S outh ?Vietnam. In response, Kennedy refused to send in US?ground forces. Under Kennedy, the US commitment remained at an?advisory level. On November 22 of 1963, a tragic event took place. President John F. Kennedy was shot and killed while riding in a limousine through the streets of Dallas. The same day, Deputy Lyndon B. Johnson was blaspheme in as President. Johnson further increased the number of ?advisors and equipment being sent to Vietnam. He wanted to declare war, destroy North Vietnam and Communism as currently as possible, even if ?he had to sacrifice his plans for a ?Great Society.? ?Losing the Great Society was a terrible thought, but not so terrible ?as the thought of being responsible for Americas losing a war to the ?Communists. Nothing co... ... the right thing, and the ?US had a right to stop what it thought was wrong. In conclusion, I confide that the Vietnam War had a massive impact?upon US society and domestic politics. The war bitterly divided the ?nation an d caused protests and political conflict between supporters ?and opponents. It done for(p) Johnsons chances of being re-elected ?president in 1968 and even damaged Bill Clinton when he stood for the ?presidency in 1992. It may be that after more than 20 old age the war ?now causes fewer problems in the United States. But some of the ?effects of the war have remained. The Pentagon Papers proved that ?American governments had misled the people and even lied to them about ?the war. As a result, many Americans are much less willing to believe ?what their government tells them. Today, governments wont win back the?trust of these Americans that easily.

The Lost Roanoke Colony Essay -- essays research papers

Jamestown is thought by most of our general population to be the first colony in the New World. This is only half true. Jamestown is considered our first successful colony, save it was not our first attempt at a colony. There were a few attempts to colonize the New World before Jamestown and one in particular that is found to be interesting is Roanoke also known as the Lost Colony. It received this key out due to the fact that the colonists that settled this colony disappeared very mysteriously. This poses the question of What happened to the people of Roanoke? There are many different viewpoints of what occurred to the colonists and the goal here is to address apiece one of them. In England, a document signed on January 7, 1587, created a governing body called the Governor and Assistants of the City of Roanoke in Virginia. John White, an illustrator and map maker, was found governor. Then on May 5, 1587, eighty-five men, seventeen women, and eleven children boarded the ships h eading for the New World. The plan was originally designed for the colony to settle at Chesapeake Bay, however on July 22, 1587, Simao Fernandes, the ship captain of the expedition decided to drop everyone off at Roanoke Island, the site of a previous expedition called Greenville, instead of pushing up the coast to the Chesapeake Bay. John White believed that they would reunite with the fifteen colonists left behind from the previous expedition. Instead he only found the bones of one of the men, ...

organisational diagnosis Essay -- essays research papers

Perform a diagnosis of an organization that you argon familiar with, using the diagnostic organizational level analysis. Your diagnosis should include an assessment of the organizations performance and an indication of the underlying cause of problems.1. What is diagnosis?Diagnosis is a systematic approach to understanding and describing the yield state of the organization.2. The open system The general diagnosis model based on systems theory that underlines most of OD.The elements in open system model are- Input Information, energy, people- Transformations Social component, technological component - Output Finished goods, services and ideas3. Organizational level diagnosis The elements in organizational level diagnosis are-Inputs General environment, Industry Structure-Strategic Orientation Strategy, Organizational Design-Output Organization Performance, Productivity, Stakeholder SatisfactionMICROSOFT CARPOINT ANALYSISINPUTGeneral Environment-Technologydepends on the advancemen t the technology, e.g. easy to imitate products/services.-Social and Ethical --- less privacy, accuracy and safety.-Economic --- different income and spending, e.g. crisis in Asia causes less purchasing power.- governmental and legal --- government regulation, e.g. taxation, domain name registration, copyright.Company Industry Structure-Threat of EntryHigh barriers brand identification, economies of scale, international market-Intensity of disceptation among CompetitorsMore online car industries, e.g. AutoByTel, AutoWeb, and Auto Vantage Difficult to maintain unique offerings.-Pressure from Substitute ProductsThe availability of substitute products traditional dealers, other online car industry.-dicker Power of BuyersMore purchase options, more valuable and timely information, and the degree of transaction simplicity.-Bargaining Pow... ...ned, there are divisional structure which are colligate to online auto products/services.HR system support the Strategic Orientation, to achiev e its mission must be supported with well-developed human resources.Organizational Design and Strategy is aligned, the secernate strategic intent requires an organization design that focuses on the creation of new ideas, marketing and manufacturingREFERENCEMicrosoft CarPoint Case Study,http//webct.buseco.monash.edu.au/MKW1601_S1_01_04/assignments/04145060_carpoint.pdf, Accessed 4 May 2004.Rayport, J.F., Jaworski, B.J., 2001, Introduction to E-Commerce, 1st edition, McGraw Hill, regular armyMicrosoft corperation, 2004, http//autos.msn.com/finance_insurance/finance.aspx?src=LeftNav, Accessed 2004, May 15). Redmon, Wash. (1998, November 24). MSN CarPoints Personal Auto Page Wins Big With Customers, http//www.showroomatfiat.co.uk/press/pap.asp , (Accessed 2004, May 15). Marketing Teacher, The Marketing Environment, , Access Date 17/05/2004Waddell, D.M., Cummings, T.G. & Worley, C.G. (2000), Organisation Development and Change, Thomson Learning, USA.

organisational diagnosis Essay -- essays research papers

Perform a diagnosis of an organization that you are long-familiar with, using the diagnostic organizational take aim analysis. Your diagnosis should include an assessment of the organizations performance and an indication of the underlying cause of problems.1. What is diagnosis? diagnosis is a systematic approach to understanding and describing the present state of the organization.2. The open system The general diagnosis model based on systems theory that underlines roughly of OD.The elements in open system model are- Input Information, energy, people- Transformations Social component, technological component - Output Finished goods, services and ideas3. nerveal level diagnosis The elements in organizational level diagnosis are-Inputs General Environment, Industry Structure-Strategic Orientation Strategy, Organizational Design-Output Organization Performance, Productivity, Stakeholder SatisfactionMICROSOFT CARPOINT ANALYSISINPUTGeneral Environment-Technologydepends on the advan cement the technology, e.g. easy to imitate products/services.-Social and Ethical --- less privacy, accuracy and safety.- economic --- different income and spending, e.g. crisis in Asia causes less purchasing power.-Political and legal --- government regulation, e.g. taxation, domain name registration, copyright.Company Industry Structure-Threat of Entry last barriers brand identification, economies of scale, international market-Intensity of Rivalry among CompetitorsMore online car industries, e.g. AutoByTel, AutoWeb, and Auto Vantage Difficult to maintain unique offerings.-Pressure from Substitute ProductsThe handiness of substitute products traditional dealers, other online car industry.-Bargaining Power of BuyersMore purchase options, more valuable and timely information, and the degree of transaction simplicity.-Bargaining Pow... ...ned, thither are divisional structure which are related to online auto products/services.HR system support the Strategic Orientation, to achieve its mission must be support with well-developed human resources.Organizational Design and Strategy is aligned, the differentiated strategic intent requires an organization design that focuses on the creation of new ideas, marketing and manufacturingREFERENCEMicrosoft CarPoint lineament Study,http//webct.buseco.monash.edu.au/MKW1601_S1_01_04/assignments/04145060_carpoint.pdf, irritateed 4 May 2004.Rayport, J.F., Jaworski, B.J., 2001, Introduction to E-Commerce, 1st edition, McGraw Hill, USAMicrosoft corperation, 2004, http//autos.msn.com/finance_insurance/finance.aspx?src=LeftNav, Accessed 2004, May 15). Redmon, Wash. (1998, November 24). MSN CarPoints Personal Auto Page Wins Big With Customers, http//www.showroomatfiat.co.uk/press/pap.asp , (Accessed 2004, May 15). Marketing Teacher, The Marketing Environment, , Access Date 17/05/2004Waddell, D.M., Cummings, T.G. & Worley, C.G. (2000), Organisation Development and Change, Thomson Learning, USA.

Management Manifesto Essay

What is management? According to Kinicki Williams textbook Management, management is defined as the pursuit of organizational aims efficiently and utilely by integrating the work of people through planning, organizing, leading, and controlling the organization resources (Ch. 1, pg. 5 Management A serviceable introduction). I believe in order to be an effective manager you must be a positive, goal orient, organized individual. I also believe an effective manager is an individual that motivates their staff and leads by example. I believe all managers should follow the management process. The management process is defined as performing the quaternion principal functions of a manager to get things done. The four principal functions of the management process are, planning, organizing, controlling, and leading. In the management process Planning is defined as setting goals and deciding on ways to contact those goals (Ch. 1 pg.14 Management A practical introduction). For example Stets on University purpose is to give its students an awesome education. Each administrator and professor set this as a goal and spends the entire summer on preparing lessons and finding out ways to make this possible.In the management process Organizing is defined as arranging tasks, people, and other resources to secure work (Ch. 1 pg.15 Management A practical introduction). For example my supervisor takes the liberty of providing her staff with an event calendar for each month of the year. This keeps me and other coworkers disposed(p) and well organized for upcoming events and tasks. In the management process you all have Controlling. Controlling is defined as monitoring performance, comparing it with goals, and taking strict action as needed (Ch. 1 pg.15 Management A practice Introduction). For example an employee performance evaluation is due every three months in my confederation I work for. Last in the management process you have Leading. Leading is defined as motivating, direc ting, and otherwise influencing people to work hard to chance on the organizations goals (Ch. 1 pg.15 Management A practical introduction). The company I work for has a department director who leads and directs me and other employees on how to work hard to achieve goals in our recreation department. There are different levels of management.You have Top managers, Middle managers, andFirst line managers. Top managers are managers that make long terminal figure decisions about the overall direction of the organization and establish the objective, policies, and strategies for its (Ch. 1 pg. 17 Management A practical introduction). In my companies mooring the top manager would be my department director. Middle managers are managers that implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them (Ch. 1 pg.17 Management a practical introduction). In my companies case this exit be my supervisor. First -line managers are managers that make short-term operating decisions, directing the daily tasks of no managerial personnel (Ch. 1 pg. 18 Management practical introduction). In my companies case this pull up stakes be me. When it comes to being a good manager, I believe along with following the management process you must motorcoach your staff, counsel your staff, communicate with the staff, manage teams, take the lead, and most importantly value their employees contribution. In my current place of work I hold a first-line manager position. As manager I strive to be successful. Mission StatementAs a manager I will continue to be a positive team leader and role model. Self-SwotSwot also known as the situation analysis stands for strengths, weaknesses, opportunities, and threats. Swot analysis is divided into two split inside matters and outsides. Swot is the analysis of internal strengths and weaknesses and analysis of external opportunities and threats. Using the Swot analysis sho uld provide managers with realistic understanding of your mission in a company.S-StrengthsCaring individualSmartQuick-wittedQuality customer service skillsOrganization skillsGreat team playerHighly safe in Microsoft partSwift learnerEfficient in meeting goals and quotadate in interacting with customers to provide information in responseto inquiries about products and services, and to handle and resolve complaints. Experience in marketing and salesW-WeaknessesLack of authority sometimesFavoritismSensitiveToo caringEmotional attachedToo trustworthyTo openheartedO-Opportunities (External Opportunities)Community involvementAbility to learn an gain from ever situation good or badAwesome problem solverAbility to admit to all opportunitiesT-Threats (External Threats)Health issues if I bring sick I cannot attend work due to my position CompetitorsNatural disastersBudget failLack of confederation involvementManagement Action PlanMy plan to help me continue to be a successful manager is to remember the keys and what I was taught throughout the course. I will use the management process to help me remain a successful manager and function a more successful manager. I will use this knowledge to become a hardworking, committed, and productive, and effective manager. Along with this I will develop a successful strategy that defines my vision and values. I will also translate the strategy define the strategic objectives and themes. I will plan operations by improving programs. I will test and aline strategies by conducting performance analyses. Last but not least I will monitor and learn.I will make sure to review strategy. To become a great manager I will make sure to improve personally and professionally. It is my desire to my utilizing past experience and qualifications to become an good manager. I will continue to be a team player that is willing to provide support to myemployees. I will utilize my excellent interpersonal skills. To become a good manager I will cont inue not to be afraid of challenges or difficult situations. I have been recognized for pissed commitment, follow-through, and ensuring optimal service and productivity. I plan to keep that up to become a great manager. This course has taught me all the ways to be a proficient manager. I will use this knowledge in the near future.Works CitedWilliams, Kimicki &. Management A Practical Introduction. 5e ed. N.p. n.p., n.d. Print

Precis: Graphic Design Theory “Design and Reflexivity”

Precis Graphic Design Theory Design and Reflexivity by Jan van Toorn, 1994. communicatory and Visual Rhetoric, University of Baltimore Publication Design Masters Program, Spring, 2011 Dutch graphic designer Jan van Toorn is known for his radical ideas about what the function of design should be, and what qualities designers should possess and promote with their designs. wagon train Toorns distinctive style is messy, peculiar, and deeply interwoven with political and cultural messages, unapologetic with their intent to force critical thinking upon viewers.Van Toorn advocates design which encourages the viewer to exceed their own conclusions, insisting that designers shouldnt function as objective bystanders, but instead, designers have an important contribution to make. Design is a form of visual journalism and van Toorn urges designers to take responsibility for their role as journalists. Van Toorn begins his argument by stating that all professions contain a certain level of sch izophrenia unavoidable contradictions, including graphic design, which must balance the entertain of the public with the interests of the client and the general expectations of the media profession.To survive, design must strive to neutralize these inherent conflicts of interest by evolution a mediating concept aimed at consensus . to accepting the initiation image of the established order as the context for its own action. (Page 102, first paragraph) By reconciling the differences of confused ideals and opinions, and establishing a cultural norm, design develops a practical and conceptual coherence in mass media, thereby legitimizing itselflegitimized in the eyes of the social order, which, in round is confirmed and legitimized by the contributions that design make to symbolic production. (Page 102, sulfur paragraph) The cultural industry, comprised of corporations, the wealthy, the educated, and the powerful elite, dictate to the rest of society what is popular, distastefu l, and overall socially acceptable, imprisoning design in a false sense of reality. Design becomes stagnant as it conforms to the ideals put forth by the ruling class. Van Toorn refers to this stagnation as intellectual impotence and designers tend to deal with it in two ways.Designers either resist the assimilation into popular culture by attempting to redefine or renew the vocabulary or they integrate smoothly into the existing symbolic and social order. (Page 103, first paragraph) The lines separating these two approaches have become blurred with the rise of post-modernism and proliferation of niche marketing, as competitors try to class themselves. Van Toorn observes that official design continues to be characterized by aesthetic compulsiveness and/or by a patriarchal fixation or reproductive ordering. (Page 103, second paragraph) Van Toorn then begins to examine what he refers to as symbolic productions, specifically ads, commercials, etc. , which misrepresent reality. These symbolic productions are ideological instruments, serving private interest in the guise of a universal one. (Page 103, last paragraph) The so-called dominant culture doesnt serve to integrate different social classes rather, it contributes to the facade of an corporate society, by forcing all other cultures to define themselves by an established set of rules, fostering a communicative dependency. (Page 104, first paragraph) Van Toorn argues that everyday life is wrongly represented and causes tension between ethics and symbolism. In order to make what van Toorn refers to as an oppositional cultural production, the designer must take care non to create a specific alternative to an established convention, but to simply present it in a creative and new way, while keeping the universally accepted concept intact.A designers opportunity to upset the status quote can and be sought when a political or ideological shift is underway, which results in creating new public polarities, usua lly targeting real social problems. (Page 104, last paragraph) Now the designer can encourage an oppositional stance, one that goes against the communicative order. The ultimate goal of this approach is to evoke questions and reflection among the public and encourage a more pragmatic view of reality, forcing them to identify their own needs and desires.Van Toorn cautions that patronage the ever-changing nature of culture, design has to be realistic in its social ambitions. (Page 105, paragraph 3) The awareness of the unstable relationship between the symbolic and the real world requires a high level of discernment and critical thinking ability. Design must recognize substance, program, and style as ideological constructions, as expressions of restricted choices that only show a small sliver of reality in mediation. (Bottom of page 105, to top of page 106)

Three Theories of Art Essay

Harold Osborne (Aesthetics and Art Theory) identified three base ways in which we can speak out close to control of prowess. In the simplest sense, a work of art has certain physical properties. It is made of a material (e. g. , wood, marble, clay, paint on canvas, ink on paper) which possesses texture, contains shapes, occupies a shell out of space, reflects certain colors, and is dig over time. In addition, these colors, textures, and shapes argon organized together in a certain way.These material and organizational qualities of a work of art are bring downed its statuesque properties, and discussion about the value of art from this perspective is to consider a nominal speculation of art. Secondly, art uses its formal properties to present itself in certain basic ways. For example, art which serves as a copy of reality is described as realistic or naturalistic. Art which presents an modify version of an breathing reality is called idealistic. though in the recent pa st in the West weve shown a bias for naturalistic art, some art doesnt mimic reality, and this benign of art we call abstract. Discussion of a work of art inside the context of realism and abstraction is to participate in a presentational theory of art. Throughout fib whole kit of art have typically served a purpose, theyve served as instruments to accomplish these purposes. For example, art has served to indoctrinate people about the importance of particular proposition political and spectral personages and beliefs. When we talk about art in terms of acting on behalf of a purpose, Osborne says were working within an instrumental theory of art. All whole works of art offer formal, presentational and instrumental qualities.These categories become the framework for the analysis of works of art. To assist in their operation to a work of art, listed below are words, reflectivitys and responses typical to each category. Formal Theory damage Form shape, size, location, scale, text ure, visual clarity Color harmony/dissonance, properties of electric discharge/illumination concept balance, union/asymmetry, order, unity, proportion, geometrical/organic Emotional responses to attributes listed above a beautiful color, a beautiful combination of shapes and colors a soupcon of awe in response to the scale, mass, symmetry of a building.Response is primarily emotional. Cognitive responses Comparison of art and nature (e. g. , pattern in art and nature) parity of different works of art in formal terms. Presentational Theory Terms Realism, naturalism, idealism, illusion, representation, architectonic, abstraction, style, stylized, decorative, connoisseurship/taste Emotional responses to the attributes listed above the perfectly beautiful soundbox of the Greek goddess witch in the timberland of illusion. Cognitive responses to the above attributes assessment of the accuracy of representation comparison to other art of this type. Instrumental TheoryTerms Craft, c ommunication of person-to-person ideas and emotions, communication of sociable (moral, political, religious) values, narrative, iconography, education, magic and ritual, secondary experience, art-for-arts sake Emotional responses to attributes listed above beautifully crafted piece empathic reaction to creative persons expression enjoyment of the vicarious experience of a realistic presentation. Cognitive responses to the above attributes insight into reality understanding social values, historical events and characters. in that respect is a hump of cognition in this category because of the communication of ideas.Three Theories of Art EssayHarold Osborne (Aesthetics and Art Theory) identified three basic ways in which we can think about works of art. In the simplest sense, a work of art has certain physical properties. It is made of a material (e. g. , wood, marble, clay, paint on canvas, ink on paper) which possesses texture, contains shapes, occupies a portion of space, refle cts certain colors, and is apprehended over time. In addition, these colors, textures, and shapes are organized together in a certain way.These material and organizational qualities of a work of art are called its formal properties, and discussion about the value of art from this perspective is to consider a formal theory of art. Secondly, art uses its formal properties to present itself in certain basic ways. For example, art which serves as a copy of reality is described as realistic or naturalistic. Art which presents an improved version of an existing reality is called idealistic. Though in the recent past in the West weve shown a bias for naturalistic art, some art doesnt mimic reality, and this kind of art we call abstract. Discussion of a work of art within the context of realism and abstraction is to participate in a presentational theory of art. Throughout history works of art have typically served a purpose, theyve served as instruments to accomplish these purposes. For example, art has served to indoctrinate people about the importance of particular political and religious personages and beliefs. When we talk about art in terms of acting on behalf of a purpose, Osborne says were working within an instrumental theory of art. All works of art offer formal, presentational and instrumental qualities.These categories become the framework for the analysis of works of art. To assist in their application to a work of art, listed below are words, expressions and responses typical to each category. Formal Theory Terms Form shape, size, location, scale, texture, visual clarity Color harmony/dissonance, properties of light/illumination Design balance, symmetry/asymmetry, order, unity, proportion, geometric/organic Emotional responses to attributes listed above a beautiful color, a beautiful combination of shapes and colors a feeling of awe in response to the scale, mass, symmetry of a building.Response is primarily emotional. Cognitive responses Comparison of art and nature (e. g. , pattern in art and nature) comparison of different works of art in formal terms. Presentational Theory Terms Realism, naturalism, idealism, illusion, representation, architectonic, abstraction, style, stylized, decorative, connoisseurship/taste Emotional responses to the attributes listed above the perfectly beautiful body of the Greek goddess delight in the quality of illusion. Cognitive responses to the above attributes assessment of the accuracy of representation comparison to other art of this type. Instrumental TheoryTerms Craft, communication of personal ideas and emotions, communication of social (moral, political, religious) values, narrative, iconography, education, magic and ritual, vicarious experience, art-for-arts sake Emotional responses to attributes listed above beautifully crafted piece empathic reaction to artists expression enjoyment of the vicarious experience of a realistic presentation. Cognitive responses to the above attributes insigh t into reality understanding social values, historical events and characters. There is a prominence of cognition in this category because of the communication of ideas.Three Theories of Art EssayHarold Osborne (Aesthetics and Art Theory) identified three basic ways in which we can think about works of art. In the simplest sense, a work of art has certain physical properties. It is made of a material (e. g. , wood, marble, clay, paint on canvas, ink on paper) which possesses texture, contains shapes, occupies a portion of space, reflects certain colors, and is apprehended over time. In addition, these colors, textures, and shapes are organized together in a certain way.These material and organizational qualities of a work of art are called its formal properties, and discussion about the value of art from this perspective is to consider a formal theory of art. Secondly, art uses its formal properties to present itself in certain basic ways. For example, art which serves as a copy of r eality is described as realistic or naturalistic. Art which presents an improved version of an existing reality is called idealistic. Though in the recent past in the West weve shown a bias for naturalistic art, some art doesnt mimic reality, and this kind of art we call abstract. Discussion of a work of art within the context of realism and abstraction is to participate in a presentational theory of art. Throughout history works of art have typically served a purpose, theyve served as instruments to accomplish these purposes. For example, art has served to indoctrinate people about the importance of particular political and religious personages and beliefs. When we talk about art in terms of acting on behalf of a purpose, Osborne says were working within an instrumental theory of art. All works of art offer formal, presentational and instrumental qualities.These categories become the framework for the analysis of works of art. To assist in their application to a work of art, list ed below are words, expressions and responses typical to each category. Formal Theory Terms Form shape, size, location, scale, texture, visual clarity Color harmony/dissonance, properties of light/illumination Design balance, symmetry/asymmetry, order, unity, proportion, geometric/organic Emotional responses to attributes listed above a beautiful color, a beautiful combination of shapes and colors a feeling of awe in response to the scale, mass, symmetry of a building.Response is primarily emotional. Cognitive responses Comparison of art and nature (e. g. , pattern in art and nature) comparison of different works of art in formal terms. Presentational Theory Terms Realism, naturalism, idealism, illusion, representation, architectonic, abstraction, style, stylized, decorative, connoisseurship/taste Emotional responses to the attributes listed above the perfectly beautiful body of the Greek goddess delight in the quality of illusion. Cognitive responses to the above attributes assessm ent of the accuracy of representation comparison to other art of this type. Instrumental TheoryTerms Craft, communication of personal ideas and emotions, communication of social (moral, political, religious) values, narrative, iconography, education, magic and ritual, vicarious experience, art-for-arts sake Emotional responses to attributes listed above beautifully crafted piece empathic reaction to artists expression enjoyment of the vicarious experience of a realistic presentation. Cognitive responses to the above attributes insight into reality understanding social values, historical events and characters. There is a prominence of cognition in this category because of the communication of ideas.

Aum Shinrikyo Terrorist Group

Introduction The Aum Shinrikyo is a Japanese New Religious Movement Organisation but they are too labelled as a terrorist organisation in many countries across the world. The group originated in 1984, in Japan. It started as a cult where the founder and leader, Shoko Asahara, promised chase that they would have the power to hoer or levitate if they joined. Since its establishment in 1984, it has committed at least 2 terrorist attacks.The group was popular in the 1990s and had many particles (10,000 in Japan and approximately 30,000 in Russia) but following the Sarin gas attack on the Tokyo subway, the numbers diminished imput fitted to the group being targeted by the police. They changed the fix of the organisation from Aum Shinrikyo to Aleph. History The infamous Cult began in 1987 and was founded by Shoko Asahara. Aum Shinrikyo has elements of Buddhism and Christianity although Christians and Buddhists have no association to the group.The founder, Shoko Asahara, was born in 19 57 and is partially blind. He spent his life studying acupuncture which is a common career in Japan for the blind. He was arrested by the Japanese governing and held in prison for a short period for selling useless medicines to cure diseases, with the claim that they give the user special powers. He later traveled in the Himalayas where he supposedly learnt his divine powers and was teleported to the year 2006 where he spoke to soldiers who had survived World War III.Asahara formed the Cult in 1987 in a down in the mouth yoga studio and convinced(p) people that if they joined they would have special powers much(prenominal) as the ability to levitate and they would fight in World War III, which was to legislate at the end of the millennium. Asahara grew a beard when he started the Cult as a way of appearing as a mystic. The reason the Cult was able to recruit so many members was that the vulnerable sought the belief that they could posse supernatural powers and could achieve a different life to the busy, non-stop working life of close people in Japan.The Cult members were loyal to Asahara and treated him as a type of Christ. He brainwashed his followers and taught a range of original theories such as the doomsday and apocalypse that was his World War III. He brainwashed people into thinking that if they left they would die in the apocalypse and in that respect were cases of members leaving and being depleteed by other members, acting on Asaharas orders. In 2000, the name of the organisation was changed from Aum Shinrikyo to Aleph. Aleph is the first letter of the Jewish alphabet.It is somewhat of an enigma that they changed the name to Aleph as the group is strongly opposed to Judaism. The reason for the change of name served to prove to the public they had changed and were no longer Anti-Semitic and to recruit new members that were unaware of the Cults previous history. The Cult still exists today, although many countries such as Australia and the U SA have placed Aleph and Aum Shinrikyo on terrorist alert lists. Interestingly, Japan has not classed Aleph as a terrorist organisation, yet and current worldwide membership as of 2005 is 1,650 according to Japanese government records.Chemical Weapons The Aum Shinrikyo made sarin using over the counter products purchased at a chemist and processed themselves. The Aum Shinrikyo maintained large warehouses where they would develop boldness agents and other chemical weapons. The Cult even had a headquarter in Western Australia that was closed at the end of 1993. In Western Australian it is asserted they studyed chemical weapons (Sarin gas and VX which is the closely toxic nerve agent created and is classed as a Weapon of Mass Destruction (WMD) by the United States) on 29 sheep.The Cult also maintained chemical warehouses end-to-end Japan but in many cases, local residents petitioned for them to move away. Tokyo Subway Sarin Gas Attacks In 1995 the Aum Shinrikyo committed the first , and worst, of their terrorist attacks. In the early first light rush hour on the Tokyo subway, five Aum Shinrikyo members each released two bags of the lethal chemical, Sarin and the attack was carried out at peak hour in the subway steads where there was the largest number of people and greatest potential impact. The perpetrators were driven to the designated subway stations carrying 2 bags of liquid Sarin wrapped in newspaper.Some wore disguises while others had medical masks (which are quite common in Japan). All boarded the subway carriages and placed the bags on the floor, puncturing them with umbrellas before hopping off at the adjoining stop. The liquid evaporated and commuters began to feel light headed and nauseas. The subway carriages were forced to stop and were then evacuated. At one station a commuter told a staff member of a leaking bag which the staff member immediately picked up with her hands and then placed in a bin the staff member died currently after.Chao s followed outside the subway stations as Tokyos road systems were already congested with traffic and emergency services found it severe to reach victims. In total, 12 people died, 50 were severely injured and possibly 1000 more had temporary blindness and vision loss. The attack trunk to this day the worst terrorist attack committed in Japan. Aums Other Illegal Activities Although the 1995 Tokyo Subway Sarin Gas attacks received the most publicity, it is sure enough not the only terrorist and illegal act.The second most notorious and infamous reason for the Cults media insurance coverage were the Sakamoto murders. Sakamoto was an anti-cult lawyer who was working against the Aum Shinrikyo in 1989. Sakamoto convinced Asahara to take a blood test to see if there was anything unusual in his body that would give him his supernatural powers. The test came back normal aiming suggest that Asahara was a fraud and had no supernatural powers. This would have been devastating for recruitme nt into the Aum Shinrikyo and embarrassing to Asahara.This was the reason Asahara sent his loyal followers to kill Sakamoto and his family. The method they chose to kill Sakamoto and his family was with 14 hypodermic syringes filled with potassium chloride and their bodies were mutilated to hinder identification. The perpetrators were only arrested and prosecuted because other members of the Cult were linked to the sarin gas attacks gave reason. There has also been evidence and accusations that the Aum Shinrikyo had torture chambers at some of the warehouses and headquarters.It is asserted that they placed members who tried to leave the Cult in large shipping containers where they deprived them of sleep along with committing other tortures before then killing them. Shoko Asahara A very famous photo of Asahara on trial in Japan. This photo has had a lot of coverage and even taking the cover of Time Magazine. Source www. my. dek-d. com The clean up after the Sarin Gas attacks on th e subway. Source www. angelingo. usc. edu Large containers of Chemical weapons such as Sarin and VX were found in an Aum Shinrikyo warehouse throughout Japan and one in Western Australia.Source http//www. semp. us This image shows many test tubes filled with the deadly gas used in the Tokyo Subway attacks, Sarin. Source jafproject. net/images3/sarin. jpg This photo was taken outside a subway station after the Sarin was released. The gas made people feel nauseas and sick and they can often loose their sight or even die. These victims are most likely only suffering from temporary blindness. Sourcehttp//www. semp. us/_images/biots/Biot171PhotoA. jpg Tsutsumi Sakamoto, his wife and one year old son.This photo was taken shortly before they were viciously murdered by members of Aum Shinrikyo under Shoko Asaharas orders. Source http//japanfocus. org A wanted photo that has been stuck on a wall outside a subway station where two sarin bags were released. The photos are of the perpetrators, Ikuo Hayashi, Kenichi Hirose, Toru Toyoda, Masato Yokoyama and Yasuo Hayashi. Sourcehttp//content. answers. com Bibliography http//en. wikipedia. org/wiki/Aum_Shinrikyo1995_Tokyo_sarin_gas_attacks_and_related_incidents http//www. religioustolerance. org/dc_aumsh. htm www. angelingo. usc. edu

Ideas that Shaped the Constitution

I will discuss 3 main ideas regarding the Federalist Papers. The Federalist Papers cute to protect the people as a whole, not Just individuals. Before the U. S. Constitution was formed, the leaders believed that a weak central government wouldnt have enough power to protect the rights of individual people. afterward the U. S. Constitution was created, the catalogue called for a strong central government, one that would have power over the state governments and provide a unified authority on legislating, nforcing and judging laws. What was the role of the Federalist Papers?The overall purpose of the Federalist Papers was to convince the people that a stronger centralized government would be more protective ot their rights. The Federalist cover were written to convince people to ratify the Constitution The papers discussed the unequivocal experience of the Incompetence of the federal government and the need for a stronger central government. They wanted the public to support the c onstitution and get involved. M all leaders wanted a entralized government because they feared If the power remained In the states It would in conclusion tear the government apart.States fought with individually other over power and they wanted the power to be centralized not at the states level. The States had more power than the government. Many far-sighted leaders realized that the self-interests of the states would eventually tear the union apart. and that the Articles of Confederation provided no legal or political means to stop it. States quarreled with one another over land claims, commerce regulations, and oftentimes rected imposts against neighboring states.Although strictly forbidden by the Articles, states established relations and treaties with foreign nations and refused to send much needed tax money to congress. Due to the difficult amendment process, attempts to authorise congress with greater authority to tax and to regulate commerce could be stopped by the refus al of a single state. Who was the attended audience? The original purpose ot the Federalist Papers was to elect Pro-constitution delegates to the New York state ratification convention.The proposed audience was the erchants of New York City, whose support was vital if the upstate Antifederalists were to be overpowered. This ettort ultimately tailed. Only nineteen Federalists were elect from New York City, while forty-six Antifederalists were elected from upstate, led by Governor George Clinton. The papers were printed In only a dozen papers Ideas tha mccantsr uC outs10e 0T New York, ana tnelr Innuence on tne overall vote was n the Articles of Confederation fail? The articles of confederation were written to oversee the 13 origin breaking away from Great Britain in 1776.The articles of confeder many reasons. The main reason was that the states had too much federal government weak. There was no one person in charge, the executive branch. Congress didnt have any power decisions had al l 13 states. Drafted during the years 1776 and 1777, while the c fighting for emancipation, the Articles of Confederation created a government with most of the governmental powers retained by th Articles provided no separation of branches. Congress, the legisla branch of government. When laws were presented, they required Congress voted as states not as individuals.The Articles of Confe written to govern the interaction of the thirteen original states aft independence from Great Britain in 1776. They proved to be ineff US Constitution was adopted to replace the Articles of Confederati an active government is critical to the protection of individual righ government infra the Articles of Confederation was unable to eff individual rights because it did not act directly upon the people, a authority to enforce its laws. The Constitution requires that the pe are needed to ratify the document and decide whether they will t the framers or not.

IT ethics: Hacking And Copyrights Essay

IT ethical motive is a new branch of morality that is growing and ever-changing rapidly as IT engineering science besides grows and develops. The term IT ethics is open to interpretations both broad and narrow. On the one hand, for example, IT ethics might be silent very narrowly as the efforts of professional philosophers to apply traditional ethical theories or virtue ethics to issues regarding the use of IT technology. On the other hand, it is possible to reckon IT ethics in a very broad way to include, as well, standards of professional practice, codes of conduct, aspects of IT law, public policy, corporate ethics even certain topics in the sociology and psychology of computing.In the industrialized nations of the world, the instruction revolution already has significantly altered many aspects of life in banking and commerce, work and employment, medical c be, national defense, transportation and entertainment. Consequently, information technology has begun to affect co mmunity life, family life, human relationships, education, freedom, democracy, and so on. IT ethics in the broadest sense can be understood as that branch of applied ethics, which studies and analyzes much(prenominal) social and ethical impacts of information technology (Bynum).In recent years, this robust new field has led to new university courses, conferences, workshops, professional organizations, curriculum materials, books, articles, journals, and research centers. The intromission of the World Wide Web in 1990 has catalyzed the expansion of the Internet, which is still growing today at unprecedented rates and IT ethics is quickly being transform into global information ethics. The recent growth of the Internet has resulted not only in an increase in the amount of available knowledge, but also in an increase in the lines inherent to its usage and distribution. It has become clear that traditional rules of conduct are not always applicable to this new medium, so new ethical codes are now being developed.Edward F. Gehringer gives broad and wide-ranged classification of ethical issues in information technology area. He distinguished following master(prenominal) aspects of IT ethics (Gehringer)BasicsCommerceIT AbuseIntellectual PropertyPrivacyRisksSocial Justice IssuesAlthough, in practice every case involves at to the lowest degree two of those issues. At first, let us discuss problems of right of first publications in endue-day IT industry. It seems that this issue deals with almost every aspect listed above and it will be favourable example of ethics implementation in IT.In article Napster, DVD cases post right of first publication promontorys in digital age, we can observe both(prenominal) problems concerning secure issues of IT industry. The article discusses this problem on example of Napster, the Internet search engine which allows all over 60 millions consumers to find and download free music. Experts say the gamey-tech context in whic h copyright questions are being raised as exemplified by the Napster case in California and a DVD-encryption case out of red-hot York also shows that the law is always a few steps bathroom technology. The Recording Industry Association of America filed a law become against Napster in celestial latitude 2000, accusing the company of encouraging the illegal copying and distribution of copyright music on a massive scale. Author asserts that the case raises inherent questions some freedom of information and activity on the Internet and what copyright protections musicians have or do not have in cyberspace. For those and other reasons, legal experts vertex to the Napster case as crucial to the future of cyberspace and copyright law in the United States, the worlds leader in high-tech issues, he states.In this article, the writer also describes how copyright law needs revision because it has become so complicated and counterintuitive. He also maintains that many content providers a nd copyright lawyers tend to propagate made-up rules that purport to clarify ambiguities such as the legality of sharing music on peer-to-peer file sharing networks. Author asserts that copyright rules, however, are in considerable flux these days and very little is clear around these new technologies. According to article, we surely have no covenant to follow made-up rules, although it is sometimes easy to confuse these specious requirements with real ones. Given this confusion, it concludes that the need for copyright reform is urgent.With the dawning of the Internet and other exceedingly advanced technology, people all around the world are now able to copy, download, and distribute copyrighted material with ease. Unfortunately, the use of the Internet has increased the participation with copyright laws. In 1998, Congress passed the Digital Millennium Copyright Act to address the tricky issue of copyright protections in a digital environment. An strategic aspect of that law was anti-circumvention protection, which barred people from circumventing password-protected and other secure Web sites that provide access to creative works. The law said the copyright owners could file civil lawsuits against those who break into such secure Web sites. This is the directly applicable law in the DVD case. At its core, copyright law says that the creators of certain literary and chaste works have the right to ensure that unauthorized people do not use their work for unauthorized purposes. The creators hold the copyright. They can give up their exclusive right to publishers or other authorized entities for a limited time or permanently. Legislation and court rulings have held that people have a significant right to make use of exceptions within the copyright law to avoid lawsuits.On the other hand, if the overwhelming majority of actors regulated by the copyright law are ordinary end-users, it makes no sense to insist that each of them retain copyright counsel in or der to fit herself within niches created to suit businesses and institutions, nor is it wise to draw the lines where the representatives of todays current stakeholders insist they would prefer to draw them. Extending the prescriptions and proscriptions of the current copyright law to govern the everyday acts of non-commercial, non-institutional users is a fundamental kind. To do so without affecting a drastic shift in the copyright balance will require a comparably fundamental change in the copyright statutory scheme.In a whole, issues in article raised very well, opposing two different views on copyright problem from creators and from consumers side. Undoubtedly, both the Napster and DVD cases raise free speech, fair use and copyright issues, which makes them important to future legal and legislative doing in the high-tech area. Using those cases writer shows controversial issues and concludes that the need for copyright reform is urgent. On the other hand in that location is n o strong stake for reasons in which way legislation concerning copyrights could be established.In my opinion, the eloquence surrounding digital copyright in general, and peer-to-peer file sharing and DVD encryption in particular, heated in article, inspires great confusion well-nigh what the copyright law does and does not prohibit. In general, most of the key legal questions are still unsettled, in part because copyright defendants have run out of money and gone out of business before their cases could go to trial. In that vacuum, some copyright owners are claiming that their preferred rules of conduct are well-established legal requirements. there may be an ethical obligation to follow real rules, even when they seem unreasonable. But there is any ethical obligation to follow made-up ones. Indeed, in this context, we may have an ethical obligation to resist them.When considering this new and advanced way of sharing information, with regard to copyright laws, the following factor s must be assessed the legality of the situation, financial losses and gains, and chaste issues. Two different views can be inevitably argued over this controversial issue those who think the downloading of copyrighted material, without the permission of the author is theft, and those who believe file sharing of copyrighted material is their right in the information age. Although the digital age has made advanced technology available to everyone, the principles of justice and fairness should still prevail.As an IT professional, we have the moral responsibilities to point out when necessary about copyrights. We should be aware that copyrighted material on the Internet is available for free download only if the creators give consent to its publication and distribution. It can be certain that the debate on copyright in the digital age will continue, and that a definitive solution will take a small-arm to reach for each side. Technology will always be here and will continue to advance , but the industries must be willing to work with the technology to meet the demands of the consumer in the information age.Hacking is also one of the most significant issues nowadays, which involves almost every aspect of IT ethics. Second article I have submitted for hacking ethics topic is Under the skin of digital crime from BBC News.The article discusses issues of positive and negative hacking. It claims that there was a time when hacking was something positive. It was done in the name of intellectual curiosity rather than financial reward. Now hacking has become an activity that holds two positions and is therefore both solemnized for its insightful inventiveness and defamed for its devious acts. Article claims that the ethics behind hacking and the actions taken by hackers constitute a manifesto that transcends ordinary understanding of this activity. Hackers argue that their actions promote a representation for tighter security measure by way of apprehensioning flaws an d patches for systems and software. However, these very actions are viewed as violations of the rights to secrecy and security for both individuals and organizations. Consequently, this establishes a cautionary attitude toward ethical issues such as, privacy, security and the future of the Internet.Another flair that article raises is the creeping criminality of hacking, much of which is now carried out for explicitly financial reward. Some criminal hackers are threatening to bombard some web-based businesses with gigabytes of entropy unless large amounts of cash are handed over. It is extortion with a hi-tech gloss. In authors experience, many of these criminal hackers have full-time jobs in technology. professional hackers are professional in all senses of the word, he states, they work in the industry.The fundamental doctrine or ethic that hackers use in order to liberate their behavior is the idea that hacking offers a mode of investigation, which allows an individual to ga in knowledge necessary to infiltrate systems that contain vulnerabilities. Acquiring this knowledge allows one to develop strategies that aid exploration of their functions and the inner components of the systems. The hacker ethic states in part that all information belongs to everyone and there should be no boundaries or restraints to prevent disclosure of this information. This philosophy that is upheld by the hacker community introduces ethical questions regarding the freedom of information and the loss of privacy. One more argument supported by the hacker ethic is that break-ins realise security problems to those who can do something about them. Hacker intrusions into systems surpass the traditional understanding of violating the laws of trespassing. Hacking involves the exploitation, or the manipulation of a bug, or a backdoor that is inherently present within the system. In this view, hacking is not a threat against the integrity of the system being exploited, but instead i s a means of implementing corrections and enforcing tighter security.Although issues in article risen well, the writer did not make a conclusive support argument of the contestation that many of criminal hackers have full-time jobs in technology. There is not strong support for causes of criminal actions by hackers. The only reason that they carried out hacking, he argued for explicitly financial reward. Concerning hacking ethics, problem discussed very particularly, and the common statement depicts real situation.Undoubtedly, hackers and hacking problems are real ones, but how might they be solved? Security requires much more than designing a secure technical al-Qaeda that resembles an impenetrable fortress. The key to a secure network is the development of real time enforceable policies that take advantage of security bulletins and published security holes. It is ethically wrong to wait until systems under protection are compromised in order to begin patching up the holes. Secur ing a network doesnt begin with high cost software and security firewalls aimed at halting the intruders, but begins with utilizing available knowledge that calls for improvements made by ethical hacking. (Mikkkeee).Whatever the case, hackers believe that when they compromise a system they are in case introducing fixes that force the system administrator to take the necessary precautions in patching up the hole, thereby tightening the security of the system. From this position, the hacker is actually doing a service to the system administrator who is unfamiliar with the bugs that can lead to a system compromise. If there is any criminal imprisoned on the part of the hacker, then they should be held legally accountable for violating the security of the system and their actions should be punishable by law.From the point of view of IT professional, we have the moral responsibilities to point out when necessary about hacker activities. Even though hacking undoubtedly has led to produc tive improvement in IT and software security, it has in effect created many disruptive problems online and offline. Hacking is an activity that introduces a method of analysis that targets and works on various components. Therefore, hacking has the potential to cause harm and to violate legitimate privacy and property rights. By ethical standards hacking does introduce crucial security fixes, but does so at the expense of violating privacy and the security of individuals. Furthermore, hacking activities lead to disruptive and atrocious problems for society, which tend to be difficult to eradicate. But, with awareness of those problems, we also should take into account that hacking is underside of technical progress, and could not be considered apart of it. As The Mentor warns in the conclusion to his manifesto, I am a hacker, and this is my manifesto. You may stop this individual, but you cant stop us all (Mentor, 1). Even if the authorities catch a hacker, as long as there is a mo tivation, hacking will persist. On the other hand, IT professionals should clearly recognize boundary between real professionalism and hacking in their own activity, because that line is very transparent.In conclusion, we should note, that significant attention paid to issues erected above in public press. Many publications leave negative impression about hacking and copyrights, as those are lawless anyway. The Napster and DVD cases received the most publicity because it involves highly popular software that millions of people around the world use to parting music and films. Concerning hacking issue, media tend to use the word hacker as a synonym for cyber vandal, digital criminal and basically any person who uses digital means to perform criminal or malicious activities. Nevertheless, it would be better to consider not only consequences, but causes as well.For the first look hacking and copyrights are on the contrary sides of ethics, but when we examine details, there are much mor e common between them. These problems are permanent topics of news nowadays. With penetration of information technology into mass media, which now functioning very closely related with World Wide Web, moreover, when Internet becoming a main media, issues of hacking and intellectual property ethics are affecting mass media itself noticeably. Thus those problems widely covered now in press and will cover on with spreading of information technology. The question is in qualitative impact of subjects on mass media.BibliographyBynum, Terrell, IT Ethics Basic Concepts and Historical Overview. The Stanford Encyclopedia of Philosophy (Winter 2001 Edition), Edward N. Zalta(ed.), Gehringer, Edward. Ethics in Computing. Ethical Issues. Homepage. 2001 Chebium, Raju. Napster, DVD cases raise copyright questions in digital age. CNN.com News. August 7, 2000 Ward, Mark. Under the skin of digital crime. BBC News Online. 11 May, 2004 Mikkkeee. Hacking Ethical Issues of the Internet Revolution. New Ord er Portal. March 29, 2003 The Mentor, The conscience of a Hacker, Phrack, Vol One, Issue 7, Phile 3, January 8, 1986. February 10, 2003.

Garden of Eden and Utopia Essay

Everyone has an ideal world in which theyd want to embody in. Of course no one wants to exist in a repoint in which t here(predicate) is violence, cruelty, bad energy etc. But, for some, in order to fall upon their ideal nonesuch of a utopia they must do anything in their power to get close to what they have envisioned there ideal place would be like. Sure, some may say there is no such thing as perfection, others think otherwise. With variety of opinions whether a utopia can exist there umpteen conflicts too globey another(prenominal) opinions and believes.Filmed by the director Guillermo Del Toro Pans Labyrinth, section of Walden by Henry Thoreau and Genesis three, shows how dystopia is introduced as the story goes along. Because so many want to achieve utopia, many believe that the idea of having a perfect society does not exist and eventually will turn into chaos. In the celluloid Pans Labyrinth, the idea of a perfect utopia was displayed by one, deviation back to the y ears after the Spanish Civil War, in which La irregular (the rebels) tries to fight the military of Spain.The purpose for the rebels to fight off the Regime was to oppose to the new government that wanted to control and create a New Spain. These rebels were not happy since they had different believes that the new government was strongly to oppose which was equality. Because both were displeased a war broke out and Spain was in war with itself. both(prenominal) sides thought society could be run better if things either changed or stood the same. Having a war was a step of creating a utopia, but created a dystopia at the same time, for the simple fact that it created so much chaos and violence.There were many death, even, injured men who fought for their believes. Two, El Capitan Vidal who controls Spains military believes that fighting, things will go your way, he believes that they will give up due to the fact the rebels do not have enough food, armor nor enough men to win the bat tle. only not only does he have to deal with these rebels trying to win this battle but he also has to deal with his impregnated wife Carmen along with her young lady Ofelia. Ofelia being a young child with such a big imagination notices the domination that her new stepdad has towards her mom and she cannot do anything but obey.As the delineation progresses, you could imagine how Ofelia dos not feel the love from her mother due to a delicate pregnancy and her stepdad that cannot stand her at all. There is no utopia here but a dystopia in Ofelias world and it is understandable in her eyes to realize that she lives in tough times but need the bursting charge and love from both adults. Every child desires to love and to be loved back, you dont want to feel as if great deal dont criminal maintenance nor bother to appreciate you for the smallest things, but for Ofelia is different.Because of the lack of care she receives in the real world, she relies on her fairytale stories not to and comfort her but to allow he explore the magical place in which she wants to go and call home. Since the Captain is more eager and cares more about changing Spain he forgets his family and puts them to the side. As the movie almost gets to the end, the Captain seemed to start losing control of what he had once had control of. Though he showed strength and devotion towards his country many of his people were spys for the rebel and worked for him.At the end of the movie, El Capitan Vidal is surrounded by the rebellions after killing Ofelia inside the labyrinth and he now realizes his troop and himself were defenseless and rounded up. After trying to make all these changes to Spain and putting so much effort in trying to defeat the rebellions, his idea of perfection collapses in a matter of minutes To create a utopia you must obey and never question nor answer back. According to Genesis three, God created man and woman already who he called Adam and Eve.These two first humans wer e in the Garden of Eden and God had clearly told them You shall not eat of all(prenominal) tree of the garden? So they obeyed and did what God told them what to do. Adam and Eve were just humans who thought everything was roses and ponies, their world was perfect no harm, they ruled the earth. God to them was someone to look up too so they did what he told them to do. However, everything changed when one of the animals God created deceived Eve to eat an orc grievous apple tree from the Garden of Eve. At the end she ate this apple and convinced Adam to eat all of a sudden both gain so much knowledge and realize there both nude.They knew they disobeyed God, they knew that something was going to happen and it actually did. God punished both Adam and Eve severely and its obvious that God reprimanded both for not obeying, God ostensibly started setting rules and he didnt like the simple fact they didnt go by one rule he expected them to follow. A place where everything was supposed t o be unlimited to both became a nightmare when both went against Gods will. Nothing turned out to be perfect. Deciding to live in the woods and leave everything back is very hard to do, but it can be done.In the section of Walden, Thoreau decides to live in the woods because he has realized that he has not lived his life. Most people would think that he is insane for wanting to live in the woods and leave everything behind him just to explore Mother Nature. People would love to live in rural areas, but Thoreau decides that he will want to live here because it is a prime(prenominal) he made. Usually society would think this is wrong, just because its thought to be game but then Thoreau seems like he doesnt care and wants to be able to explore.That is why he is telling the reader the reason why he is doing this. In conclusion trying to reach utopia means doing so much that can lead to destruction, even lives destroyed. To reach perfection is like reaching something impossible, and wh en you try to reach hard there rare chances of getting to it or reaching it. Chaos and an imperfection society is what we live in now, and no one has a full vision of what a utopia should be. Different mentalities, different livings, its hard as a society even a nation to decide whats right and wrong.

A Compare and Contrast of the New Product Development Model Essay

New harvest-feast motherments are one of the main sources of competitive advantage for companies today. Companies need smart increase to keep up with its competitors. New product learnment can be considered as activities that aim to bring new products to market. The purpose of NPD is to minimize the risk of failure. As NPD absorbs both(prenominal) financial and human resources from a company, it is therefore necessary to develop and implement a methodology for assisting in the introduction of new products.NPD poseurs can help to identify problems at an primaeval introduce and assist in directing the NPD effort in the right direction. It can be used as a roadmap and provides an indication of magnitude of the project required in fiat to develop and launch a new product. It also helps to reduce risk and uncertainty at every form by giving guidance regarding what information is required. An example of well known pose is Booz, Allen, and Hamilton Model (1982). It has been arg ued that pass-the-parcel start to NPD might extend the overall development time.However in more recent models, focus has been wedded to parallel-processing. The next section mentions about three model of NPD. Coopers stage-gate model A stage-gate model (Cooper, 1988) is improved from BAH model. The stage-gate model attempts to overcome pass-the-parcel issues which do not suitable for communicating the horizontal dimension of the NPD process. The stage-gate model uses parallel-processing to acknowledge the iterations between and within stages. The idea of parallel processing advises that major functions should be involved from the early stages of the NPD process to its conclusion.This allows problems to be detected and solved much earlier than in the classic models. The idea of dividing the new product development process into distinct phases or stages is the same as BAH model, but in the stage gate model the phases are more clearly separated from each other with sleep togetherme nt purpose gates. In addition to the discovery gate, the model consists of five action stage scoping, build business case, development, testing and validation, and launch. Stages are cross functional and each activity is undertaken in parallel to enhance speed to market.To manage risk, the parallel activities in a certain stage must be designed to gather alert information technical, market, financial, operations in order to drive down the technical and business risk. Each straight stage is also more costly than previous stage. The idea is to allow an increase in using up on the development of projects as the uncertainty goes down. Preceding each stage is a decision capitulum or gate which serves as a go/kill and prioritization decision point.The advantages of the stage-gate are following thoroughly organized innovation can be a source of competitive advantage. -Accelerated product development. Necessary be evidence of cut down product life cycles. -Increased success chance of new products. Prevents poor projects early and helps to redirect them -Integrated market orientation. denary merging(prenominal) model The multiple convergent model (Baker and Hart, 1994) follows parallel processing like the stage-gate model which allows iterations among participants within stages. However, there are two problems with parallel processing.First, it ignores the important inputs to NPD that are provided by customers and suppliers. Second, if functions are to work in parallel then when do the processes take decisions and move on to the next stage? The multiple convergent model overcomes the issue by using convergent point, where is defined as to move or cause to move towards the same point or to tend towards as common conclusion or military issue. The model takes account of the functionally distinct tasks which must be carried out simultaneously at particularized points throughout the NPD process and that the results must converge.And, due to iterations in the processes, this convergence is likely to happen several times. As the process moves from one step to another, the information gathered becomes more precise and reliable and the decisions are make with greater certainty. This model is therefore advantageous over the stage-gate in that the framework can easily compel third parties, provides mechanisms for real integration throughout the process among different functions set in the convergent points and raiment into the most appropriate NPD structures for the company.Network model The multiple convergent model fails to highlight the importance of inter-organizational collaborationism in a firms network. Networks in NPD could and should be considered at two different levels outdoor(a) and internal level. And it should be realized that the functioning of the internal networks directly influences the efficiency and efficacy of the external network. match to the network model (Trott, 1998), the development and management of knowledge is one of the most important traits of the new product development.It represents the process of accumulation of knowledge crossing continuously over different internal functions, through which both internal and external knowledge is integrated in the process. Four different internal functions are related to to new product development marketing and sales, finance, engineering and manufacturing, and research and development. Different external inputs such as competitors, suppliers, partners, customers, university departments and so on are also presented.Conclusion NPD is a process of transforming business opportunity into apparent products. In order to reduce risks of failure associated with developing a new product, many models have been developed to assist in NPD activities. These models have evolved from the simple linear models to the more complex network models. And, in order for developers of new products to be successful, they must take into consideration the critical succe ss factors in NPD.

How hunger and malnutrition influence the health and development of communities Essay

Discuss how starve and malnutrition influence the wellness and development of communities .Then explain how connection engagement and national policy-making loyalty house help to address the do of yearning and malnutrition ?. Firstly I exit describe health, hunger and malnutrition , and then discuss the mixer , physical and sparing effects of hunger and malnutrition and illustrate how hunger and malnutrition are linked. I will explain society participation and show how it links to primary health rush and the governmental commitment and .I will conclude by giving examples of community participation and national political commitment and as well as insight opinion as to how they can address the effect of hunger and malnutrition to improve the lives of those stired. Health the state of complete physically ,mentally and social wellbeing and not merely the absence of disease or infirmity (United Nations 19744) health designates process of adaptation ,It designates the abi lity to adapt to changing environments and embraces the future. thirst is a condition in which people do not get enough nutriment to reserve the nutrients for example carbohydrates ,fats proteins and minerals. Hunger occurs in three forms. 1. Acute the starving skinned bones at this level death is a loaming reality 2. Chronic hunger-is characterized by a constant lack of access to food of sufficient quality and quantity as well as lack of good health care and caring practices . 3. Hidden hunger results from quality diet ,lack of balanced diet food and to lesser expiration illness which will reduce appetite affects the bodys ability to use key nutrients. Malnutrition refers to incorrect consumption of food ,it is most(prenominal) commonly used to refer to under nutrition. Malnutrition mostly affect the miser competent but it is not just a problem among the poor ,it is about vulnerability not need . The social effect of hunger and malnutrition ,is the premature death and disab ility wreck havoc upon social institutions ,familial ties and civilised society .Malnourished churlren endure poorer educational prospects than those who are well-fed ,with the resultant negative impact on their occupational opportunities. Eleven million children die each year before the age of five ,and the death of child can dissolve a marriage especially in African cultures .An estimated 60% of these children are dangerous becausethey are hungry (Regan 8020 274). Under nutritions most damaging effects occur during pregnancy and in the first two years of life because this is when cognitive development is most rapid.The physical effect of hunger and malnutrition is stunded growth of a child .Children who are malnourished fork over prolonged and more severe illness that would not kill them if they werent malnourished. Malnourishment and undernourishment can affect for their entire lives. A malnourished individual may group with physical or cognitive disabilities and aspect a l ife of hardship as a result. Being malnourished or undernourished will make the body of the person physically weak that the person will not be able to do his/her day to day duties and will overly lead to poor performance at use and as a result that person will loose the job and the company will have low production as well due to the lose of the staff. The effects of hunger and malnutrition in the economic factor .A malnourished individual may grow up with physical or cognitive disabilities also have a debilitating effects upon a countrys workforce and subsequently it is economic productivity.Medical cost can be long-lasting problem pregnancies often lead to the delivery penny-pinching babies who require medical attention from the moment they are born .Malnutrition increases a childs efficacy to malaria , pneumonia, diarrhea or measles lead to a spiral of even further medical expenditure. Malnutrition and hunger are linked in the sense that they both lead to poverty and they are both caused by poverty .Hunger will lead to malnutrition ,malnutrition in pregnant women will lead to giving birth to lean babies who require medical attention from the moment they are born ,which will cost the family some coin and at the same time taking most of the families time of going to work or to do productive activities. Community participation is the process through which people gain control over the social ,political , economic and environmental factors that determine their health. The process of participation starts with an evaluation of the situation by everyone involved.During the process the community defines its most important health problems ,it decides or priorities finally the community figures in implementing monitoring and evaluating a health programme ,all these things are possible even when people are poor or illiterate. Community participation links to primary health care in sense that ,the community members are the one who participate in the primary healt h care. Primaryhealth care is essential health care base on practical, scientifically sound and socially acceptable methods and technology made universally accessible to individuals and families ,in the community through their full participation and at a cast that community can afford. National political commitment ,health services operate with a particular political structure .The decisions that determine the allocation of options ,human resource policy and the availability and accessibility of services are primary political.

American Bureaucracy

Bureaucracy is a form of administration wherein the government is divided into bureaus or distinguishable departments which ar headed by non-elected officials. This administration is characterized by a highly hierarchical distribution of authority amongst the offices and is manoeuvre by rigidly fixed procedures and rules.Max Weber listed characteristics of modern bureaucracies (1) the functions of the bodies are rigidly fixed by laws (2) hierarchal and integrated into a chain of command (3) administrative policies are properly documented (4) services guide apprenticeship (5) functions entail full devotion to office and (6) access to this system is also an access to technology, jurisprudence commercial-grade science and administrative science.The bafflement of the American Bureaucracy is an end result of the division of classes into societies, wherein in the function serves to secure the acceptance of such orders. Thus, according to Lefort, bureaucratism is normally viewed as service of a sovereign class within a specific framework to assure preservation of status for most for the dominant class. Moreover, American bureaucracy is seen to have several negative implications on its government form. Citizens are often have-to doe with on the manner at which principles are being attached to certain issues.It is argued that at most times, large number face the imminent danger of being placed at a stand wherein the public strong is disregarded due to conflicts from rival parties, and that when the rule of justice and rights of minor party have become overpowered by the force of interested and overbearing majority (Madison, 1787). Thus, it is often said that American bureaucracy has encouraged the change integrity of administration into factions, which in turn is an effect of unsteadiness and injustices within the system.These injustices are brought by the governments influential impact on making judgment towards property sentiments, which at large differ establish on the social class wherein the inequality to acquire property is possible to equate based on social standing (Madison, 1787). Consequently, the manner of representation in the republic is also in question. The exercise at which a representative or representatives are elected is based on a certain bound number.Hence it will follow that proportionality of the election of officers for certain republic may render them the greater or lesser probability of representation for the emancipation of the republic that they represent (Madison, 1787). On the other hand, there are also substantiating views attributed in the establishment of American bureaucracy. The establishment of bureaucracy in US has pushed reprint departments to become independent and to act according to their own will.This shall also follow that the members of this department will develop their own sense of authority and responsibility over their areas. But nonetheless, the idea of independence for the estab lished departments has remained pretended so far. The independence they posses is only minimal and nominal, because the appointments that are taking place within the system and the mental process by which orders are done, come strictly from the rigidness of orders from higher authorities.Another thing, this kind of system is highly vulnerable to biases and administration corruption, since the appointments made are delivered by higher officials and consequently the works to be done should ought to be addressed to the authority who conferred it to them (Madison 1788). Though the distribution of power amongst these departments is done in such a sort that each department serves as checks and balance for the other departments, it still occurs that this distribution of authority, instead of being argus-eyed to the interest of the public, has rather became a cover up for private interest.And this rhetoric of division of powers which aims to distribute powers equally among different d epartments couldnt be in any way possible because it is convenient and not cerebral to create an equal distribution of power to defend each of their own departments. However, the constitution for the American bureaucracy claims 2 distinct responsibilities that render this kind of administration rational and beneficial to the society. First, in contrast to bureaucracy, a single republic owes concentration of powers towards one entity, which shall serve as the lone guard against power abuse.On the other hand, in a bureaucratic state, the power is divided between two bodies, thus creating a image security against usurpation of powers by officials. Second, this division makes the interests of the republic more guarded in such a way that the first division guards the society against oppression that may be caused by the other division. Therefore, the two separate departments of the government serve as checks and balance between them (Madison 1788). Thus, bureaucracy does not necessaril y entail influence on political and economic regime.Neither that its organization has relation to power, rather, bureaucracy administers itself by splitting its powers into digression (Lefort, 2007) Moreover, the current trend of American bureaucracy is being put into test. The organization of new departments has sprung from the current US government administration, all geared towards increasing their security, customs, immigration and emergency management. According to reports, this reorganization in the US government shall become the most ambitious US reorganization since 1947.The formation of the new Department of fatherland Security shall ideally and constitutionally become the guardian of Americans against terrorist attacks, immigration advocates, and business lobbyists. However, this shall also post a great challenge on coping from the changes that it will allow. The problem shall be rooted on the quandary of balancing old and new traditions in such a way that this will not break the functions that it is ought to serve for the government and the society (Alden, 2002).Bureaucracy has served its purpose in the American government. Though it varies widely between the positive and the negative feedbacks that it has encountered over its practice, bureaucracy has indeed become an institution in the American government administration. Further, it has its process closely tied to the process of capitalist rationalization. It forms a type of social organization and establishes social strata and dictates a relationship among its members. References Alden, Edward. (22 November 2002) A Battle of American Bureaucracy.Financial Times. Retrieved November 15, 2007, from http//www. globalsecurity. org/org/news/2002/021122-secure01. htm Lefort, Claude. What is Bureaucracy? Retrieved November 15, 2007, from http//www. generation-online. org/h/fplefort. htm Madison, James. (1787 November 22) The Utility of the Union as a Safeguard Against Domestic Faction and Insurrection . Daily Advertiser. Madison, James. (1788 February 6) The Structure of the Government Must Furnish the straight-laced Checks and Balances Between the Different Departments. Independent Journal.

Capital Structure in a Perfect Market

MBA509RecommendedChapterQuestions Thesequestions bethe boil downofwhatIam coatingonthe lastexam. Understandtheanswerstothesequestionsandshould nonbe confusionbyanythingontheexam. Chapter 14 Capital Structure in a Perfect Market 14-5. cerebrate Alpha Industries and zed Technologies flummox identical assets that generate identical bills flows. Alpha Industries is an all-equity unassailable, with 10 zillion servings outstanding that make out for a set of$22 per dowery. Omega Technologies has 20 cardinal helpings outstanding as well as debt of $60 gazillion. 14-5-a.According to MM propose I, what is the variant impairment for Omega Technologies? V(alpha) = 10 x 22 = 220m = V(omega) = D + E E = 220 60 = 160m p = $8 per sh ar. 14-5-b. Suppose Omega Technologies production line currently trades for $11 per sh ar. What arbitrage opportunity is available? What assumptions are necessary to exploit this opportunity? Omega is over harmd. Sell 20 Omega, Buy 10 alpha and borr ow 60. Initial = 220 220 + 60 = 60. Assumes we merchant ship trade constituents at current prices & Assumes we lowlife borrow at same terms as Omega (or let Omega debt and can sell at same price). 4-6. Cisoft is a luxuriouslyly profi delay technology theatre that currently has $5 billion in silver. The upstanding has decided to hold this cash to salvation plow appoints from investors, and it has already announced these proposals to investors. Currently, Cisoft is an all equity planetary house with 5 billion divisions outstanding. These shares currently trade for $12 per share. Cisoft has issued no other securities except for stock options to its employees. The current food grocery store encourage of these options is $8 billion. 14-6-a. What is the set of Cisofts non-cash assets?Assets = cash + non-cash, Liabilities = equity + options. non-cash assets = equity + options cash = 12 ? 5 + 8 5 = 63 billion 14-6-b. With hone outstanding markets, what is the market pass judgment of Cisofts equity after share re grease ones palms? What is the value per share? Equity = 60 5 = 55. Repurchase 5b / 12 = 0. 417b shares = 55 / 4. 583 = $12 4. 583 b shares remain Per share value MBA509RecommendedChapterQuestions Thesequestionsarethe focalisationofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbe movebyanythingontheexam. 4-8. Explain what is wrong with the following argument If a unfaltering issues debt that is risk of infection unaffectionate, be work there is no possibility of default, the risk of the pie-eyeds equity does not change. Therefore, safe debt allows the unwaveringly to get the benefit of a low speak to of dandy of debt without procreation its cost of superior of equity. Any supplement raises the equity cost of capital. In fact, risk-free leverage raises it the most (because it does not share any of the risk). 14-12. Hubbard Industries is an all-equity sign whose shares withdraw an expecte d return of 10%.Hubbard does a leveraged recapitalization, issuing debt and repurchasing stock, until its debt=equity proportionality is 0. 60. Due to the sum upd risk, shareholders now expect a return of 13%. Assuming there are no evaluatees and Hubbards debt is risk free, what is the cheer rate on the debt? wacc = ru = 10% = 1 0. 6 x ? 1. 6(10) ? 13 = 3 = 0. 6 x ? x = 5% 13% + 1. 6 1. 6 14-17. Zelnor, Inc. , is an all-equity firm with atomic number 6 million shares outstanding currently trading for $8. 50 per share. Suppose Zelnor decides to grant a heart and soul of 10 million red-hot shares to employees as part of a bare-ass compensation plan.The firm argues that this new compensation plan go awaying motivate employees and is a better strategy that giving chip in bonuses because it will not cost the firm anything. a. If the new compensation plan has no rear on the value of Zelnors assets, what will the share price of the new stock be once this plan is implemented? A ssets = 850m. New shares = 110 ? price = 850 = $7. 73 110 b. What is the cost of the plan for Zelnors investors? why is issuing equity costly in this case? Cost = 100(8. 50 ? 7. 73) = 77m = 10(7. 73) Issuing equity at under market price is costly. MBA509RecommendedChapterQuestionsThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbe impressbyanythingontheexam. Chapter 15 Debt and Taxes 15-1. Pelamed Pharmaceuticals has EBIT of $325 million in 2006. In addition, Pelamed has busy expenses of $125 million and a embodied value rate of 40%. a. What is Pelameds 2006 net profit income? Net Income = EBIT affaire Taxes = (325 125) x (1-0. 40) $120 million b. What is the total of Pelameds 2006 net income and interest honorarium? Net Income + Interest = 120 = 125 = $245 million c.If Pelamed had no interest expenses, what would its 2006 net income be? How does it compare to your answer in part (b)? NetIncome = EBIT ? Taxes = 325 ? (1 ? 0. 40) = $195 million This is 245 ? 195 = $50 million lower than part (b). d. What is the amount of Pelamedsinterest task shield in 2006? Interest appraise shield = 125 ? 40% = $50 million MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 15-3. Suppose the corporate taxation rate is 40%.Consider a firm that earns$ gigabyte in front interest and taxes each(prenominal) stratum with no risk. The firms capital expenditures play offs its deprecation expenses each year, and it will have no change to its net working capital. The risk-free interest rate is 5%. a. Suppose the firm has no debt and leaves out its net income as a dividend each year. What is the value of the firms equity? NetIncome = 1000 ? (1 ? 40%) = $600. Thus, equity holders gain vigor dividends of $600 per year with no risk. 600 E= = $12, 000 5% b. Suppose instead the firm makes interest payments of $500 per year. What is the value of equity?What is the value of debt? 300 = $6000 5% Debt holders receive interest of $500 per year ? D $10,000 NetIncome ? (1000 ? 500) ? (1 ? 0. 40) = $300 ? E c. What is the difference between the total value of the firm with leverage and without leverage? With Leverage = 6,000 + 10,000 = $16,000 Without Levergae = $12,000 Difference = 16,000 12,000 = $4000 d. The difference in part is equal to what percentage of the value of the debt? 4, 000 = 40% = corporate tax rate 10, 000 MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam.Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 15-6. Arnell Industries has $10 million in debt outstanding. The firm will pay interest only on this debt. Arnells marginal tax rate is expected to be 35% for the foreseeable future. a. Suppose Arnell pays interest of 6% per year on its debt. What is the annual interest tax shield? Interest ta x sheild = $10 ? 6% ? 35% = $0. 21 million b. What is the bounty value of the interest tax shield, assuming its risk is the same as the lend? PV(Interest tax sheild) = $0. 21 = $3. 5 million 0. 06 c.Suppose instead that the interest rate on the debt is 5%. What is the present value of the interest tax shield in this case? Interest tax sheild = $10 ? 5% ? 35% = $0. 175 million $0. 175 = $3. 5 million PV = 0. 05 15-8. Rumolt Motors has 30 million shares outstanding with a price of $15 per share. In addition, Rumolt has issued bonds with a total current market value of 4150 MILLION. Suppose Rumolts equity cost of capital is 10%, and its debt cost of capital is 5%. a. What is Rumolts pretax weighted cost of capital? E = $15 ? 30 = $450m D = $150m Pretax WACC = 450 150 10% + 5% = 8. 75% 600 600 b.If Rumolts corporate rate is 35%, what is its after-tax weighted cost of capital? WACC = 450 150 10% = 5%(1 ? 35%) = 8. 3125% 600 600 MBA509RecommendedChapterQuestions Thesequestionsarethefocu sofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 15-12. Milton Industries expects free cash flow of $5 million each year. Miltons corporate tax rate is 35%, and its unlevered cost of capital is 15%. The firm also has outstanding debt of $19. 05 million, and it expects to maintain this level of debt unceasingly. a.What is the value of Milton Industries without leverage? VU = 5 = $33. 33 million 0. 15 b. What is the value of Milton Industries with leverage? V L = V U + ? c D = 33. 33 + 0. 35 ? 19. 50 = $40 million 15-13. Kurz Manufacturing is currently an all-equity firm with 20 million shares outstanding and a stock price of $7. 50 per share. Although investors currently expect Kurz to remain an all-equity firm, Kurz plans to announce that it will borrow $50 million and use the cash to repurchase shares. Kurz will pay interest only on this debt, and it has no further plans to increase or decrease the amount of debt.Ku rz is subject to a 40% corporate tax rate. a. What is the market value of Kurzs existing assets before the announcement? Assets = Equity = $7. 50 ? 20 = $150 million b. What is the market value of Kurzs assets (including the tax shield) just after the debt is issued, but before the shares are repurchased? Assests = 150 (existing) + 50 (cash) + 40% ? 50 (tax sheild) = $220 million c. What is Kurzs share price just before the share repurchase? How many Shres will Kurz repurchase? E = Assets ? Debt = 220 ? 50 = $170 million $170m = $8. 50 Share Price = 20 50 = 5. 882 million shares Kurz will repurchase 8. 50 d.What are Kurzs market value parallelism sheet and share price after the share repurchase? Assets ? 150(existing ) + 40% ? 50(taxsheild ) = $170 million Debt = $50 million E = A ? D = 170 ? 50 ? $120 million $120 = $8. 50 / share Share price = 20 ? 5. 882 MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestio nsandshouldnotbesurprisedbyanythingontheexam. 15-15. Suppose the corporate tax rate is 40%, and investors pay a tax rate of 15% on income from dividends or capital gains and a tax rate of 33. 3% on interest income.Your firm decides to add debt so it will pay an special $15 million in interest each year. It will pay this interest expense by cutting its dividend. a. How ofttimes will debt holders receive after paying taxes on the interest they earn? $15 ? (1 ? 0. 333) = $10 million each year b. By how much will the firm need to cut its dividend each year to pay this interest expense? Given a corporate tax rate of 40%, an interest expense of $15 million per year subjugates net income by 15(1-0. 4)=$9 million after corporate taxes. c. By how much will this cut in the dividend nullify equity holders annual after-tax income? $9 million dividend cut ? 9 ? (1 ? 0,15) ? $7. 65 million per year d. How much less will the government receive in total tax revenues each year? Interest atxes = 0. 333 ? 15 = $5 million little corporate taxes = 0. 40 ? 15 = $6 million Less dividend taxes = 0. 15 ? 9 = $1. 35 million note this equals (a) (c) e. What is the telling tax advantage of debt ? * ? (1 ? 0. 40)(1 ? 0. 15) ? * = 1? = 23. 5% 1 ? 0. 333 15-16. Markum Enterprises is considering permanently adding $100 million of debt to its capital structure. Markums corporate tax rate is 35%. a. absent personal taxes, what is the value of the interest tax shield from the new debt?PV = ? c D = 35% ? 100 = $35 million b. If investors pay a tax rate of 40% on interest income, and a tax rate of 20% on income from dividends and capital gains, what is the value of the interest tax shield from new debt? ? * = 1? (1 ? 0. 35)(1 ? 0. 20) = 13. 33% 1 ? 0. 40 PV = ? C D = 13. 33% ? 100 = $13. 33 million MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 15-19. With its curre nt leverage, Impi Corporation will have net income following(a) year of $4. million. If Impis corporate tax rate is 35% and it pays 8% interest on its debt, how much additional debt can Impi issue this year and still receive the benefit of the interest tax shield next year? Net income of $4. 5 million ? 4. 5 = $6. 923 million in taxable income. Therefore, Arundel can increase its interest expense by $6. 923 million, which corresponds to debt of 6. 923 = $86. 5 million 0. 08 MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam.Chapter 16 monetary Distress, Managerial Incentives and Information 16-2. Baruk Industries has no cash and a debt obligation of $36 millionthat is now due. The market value of Baruks assets is $81 million, and the firm has no liabilities. Assume a perfect capital market. a. Suppose Baruk has 10 million shares outstanding. What is Baruks curren t share price? 81 ? 36 = $4. 5 / share 10 b. How many new shares must Baruk issue to raise the capital needed to pay its debt obligation? 36 = 8 million shares 4. 5 c. After repaying the debt, what will Baruks share price be? 81 = $4. 5 / share 18 16-3.When a firm defaults on its debt, debt holders often receive less than 50% of the amount they are owed. Is the difference between the amount debt holders are owed and the amount they receive a cost of loser? No. Some of these losses are due to declines in the value of the assets that would have occurred whether or not the firm defaulted. Only the incremental losses that arise from the bankruptcy process are bankruptcy costs. 16-4. Which type of firm is more belike to experience a loss of customers in the event of monetary distress a. Campbell Soup Company or Intuit, Inc.? Intuit Inc. its customers will care about their ability to receive upgrades to their software. b. Allstate Corporation or Reebok International? Allstate Corporati on its customers rely on the firm being able to pay future claims. MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 16-5. Which type of assets is more likely to be liquidated for close to its up indemnify market value in the event of financial distress? a. An office building or a brand name?Office buildingthere are many alternate users who would be likely to value the property similarly. b. Product inventory or raw materials? Raw materialsthey are easier to reuse. c. Patent right of engineering know-how? Patent rightsthey would be easier to sell to another firm. 16-9. Marpor Industries has no debt and expects to generate free cash flows of $16 million each year. Marpor believes that if it permanently increases its level of debt to $40 million, the risk of financial distress may cause it to lose some customers and receive less favorable terms from its suppliers .As a result, Marpors free cash flows with debt will be only $15 million per year. Suppose Marpors tax rate is 35%, the risk-free rate is 5%, the expected return of the market is 15%, and the beta of Marpors free cash flows is 1. 1. (with or without leverage). a. Estimate Marpors value without leverage r = 5% + 1. 1? (15% ? 5%) = 16% 16 V= = $100 million 0. 16 b. Estimate Marpors value with the new leverage. r = 5% + 1. 1? (15% ? 5%) = 16% 15 V= + 0. 35 ? 40 = $107. 75 million 0. 16 MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam.Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 16-10. Real Estate Purchases are often financed with at to the lowest degree 80% debt. Most corporations, however, have less that 50% debt financing. Provide an explanation for this difference using the trade-off theory. According to tradeoff theory, tax shield adds value while financial distress costs reduce a firms value. The financ ial distress costs for a real estate investment funds are likely to be low, because the property can generally be easily resold for its full market value.In contrast, corporations generally face much broad(prenominal)schooler costs of financial distress. As a result, corporations choose to have lower leverage. 16-11. Dynron Corporations primary business is natural gas transportation using its large gas pipeline network. Dynrons assets currently have a market value of $150 million. The firm is exploring the possibility of raising $50 million by selling part of its pipeline network and place the $50 million in a fiber-optic network to generate revenues by selling fast network bandwidth.While this new investment is expected to increase profits, it will also substantially increase Dynrons risk. If Dynron is levered, would this investment be more or less attractive to equity holders than if Dynron had no debt? If Dynron has no debt or if in all scenarios Dynron can pay the debt in f ull, equity holders will only consider the discombobulates NPV in making the decision. If Dynron is heavily leveraged, equity holders will also gain from the increased risk of the new investment. 16-18. Which of the following industries have low optimal debt levels according to the tradeoff theory? Which have gamy optimal levels of debt? a.Tobacco firms high optimal debt levelhigh free cash flow, low growth opportunities story firms low optimal debt levelhigh distress costs Mature restaurant chains high optimal debt levelstable cash flows, low growth, low distress costs Lumber companies high optimal debt levelstable cash flows, low growth, low distress costs Cell shout manufacturers low optimal debt levelhigh growth opportunities, high distress costs b. c. d. e. MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 6-19. According to the managerial entrenchment t heory, managers choose capital structures so as to preserve their support of the firm. On the one hand, debt is costly for managers because they risk losing control in the event of default. On the other hand, if they do not take advantage of the tax shield provided by debt, they risk losing control through a hostile takeover. Suppose a firm expects to generate free cash flows of $90 million per year, and the give notice rate for these cash flows is 10%. The firm pays a tax rate of 40%. A looter is poised to take over the firm and finance it with $750 Million in permanent debt.The looter will generate the same free cash flows, and the takeover attempt will be successful if the raider can offer a premium of 20% over the current value of the firm. What level of permanent debt will the firm choose, according to the managerial entrenchment hypothesis? 90 = $900 0. 10 Levered Value w/ Raider = 900 + 40%(750) = $1. 2 billion To prevent successful raid,l current managment must have a le vered value of at least $1. 2 billion = $1 billion 1. 20 Thus, the minimum tax sheild is $1 billion 900 million = $100 million, 100 which requires = $250 million in debt 0. 40 Unlevered Value = MBA509RecommendedChapterQuestionsThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. Chapter 17 Payout Policy 17-6. The HNH Corporation will pay a constant dividend of $2 per share, per year, in perpetuity. Assume all investors pay a 20% tax on dividends and that there is no capital gains tax. The cost of capital for investing in HNH stock is 12%. a. What is the price of a share of HNH stock? P=$1. 60/0. 12=$13. 33 b. Assume that precaution make a surprise announcement that HNH will no longer pay dividends but will use the cash to repurchase stocks instead.What is the price of a share of HNH stock now? P=$2/0. 12=$16. 67 17-7. What was the effectuateive dividend tax rate for a U. S. investor in the highes t tax bracket who planned to hold a stock for one year in 1981? How did the effective dividend tax rate change in 1982 when the Reagan tax cuts took effect? (Ignore State taxes. ) 58. 33% in 1981 and 37. 5% in 1982. 17-10. At current tax rates, which investors are most likely to hold a stock that has a high dividend yield? a. Individual Investors b. Pension money c. Mutual Funds d. Corporations 17-11. A stock that you know is held by long-term individual investors paid a large one-time dividend.You notice that the price dropped on the ex-dividend date is about the size of the dividend payment. You find this relationship perplexing given the tax disadvantage of dividends. Explain how the dividends-capture theory world power account for this behavior. Dividend capture theory states that investors with high effective dividend tax rates sell to investors with low effective dividend tax rates just before the dividend payment. The price drop therefore reflects the tax rate of the low e ffective dividend tax rate individuals. MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam.Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. 17-16. Explain under which conditions an increase in the dividend payment can be interpreted as a note of a. Good news By increasing dividends managers signal that they believe that future loot will be high enough to maintain the new dividend payment. b. Bad news Raising dividends signals that the firm does not have any positive NPV investment opportunities, which is bad news. 17-17. Why is an announcement of a share repurchase considered a positive signal?By choosing to do a share repurchase management credibly signals that they believe the stock is undervalued. 17-20. Explain why most companies choose to pay stock dividends (split their stock). Companies use stock splits to keep their stock prices in a range that reduces investor work costs 17-21. When might it be advant ageous to undertake a reverse stock split? To avoid being delisted from an exchange because the price of the stock has fallen below the minimum required to stay listed. 17-22. After the market close on May 11, 2001, Adaptec, Inc. , distributed a dividend of shares of he stock of its software division, Roxio, Inc. Each, Adaptec shareholder received 0. 1646 share of Roxio stock per share of Adaptec stock owned. At the time Adaptec stock was trading at a price of $10. 55 per share (cum-dividend), and Roxies share price was $14. 25 per share. In a perfect market, what would Adaptecs ex-dividend share price be after this transaction? The value of the dividend paid per Adaptec share was (0. 1646 shares of Roxio) ? ($14. 23 per share of Roxio) = $2. 34 per share. Therefore, ignoring tax effects or other news that might come out, we would expect Adaptecs stock price to fall to $10. 5 2. 34 = $8. 21 per share once it goes ex-dividend. (Note In fact, Adaptec stock opened on Monday May 14, 20 01 the next trading day at a price of $8. 45 per share. ) MBA509RecommendedChapterQuestions ThesequestionsarethefocusofwhatIamcoveringonthefinalexam. Understandtheanswerstothesequestionsandshouldnotbesurprisedbyanythingontheexam. Explain the long-term (3 to 5 years) relative stock performance of companies that have i) issued a season equity offering ii) split their stocks Why would a stock split be a signal for good news?What is meant by leaving money on the table, when issuing an IPO? Why might issuing management be content to leave a lot of money on the table? Can you spot the period of a stock market bubble in the table below? (Hint look for an oval ) In retrospect, do you think it is a good long-term investment to purchase stocks where there has been huge amounts of money left on the table? Table 1 Summary Statistics for 6,312 IPOs with fling Price ? $5. 00 Mean First-day Return 7% 15% 65% 12% 19% Average, 2001 Dollars Money left on the Table Gross Proceeds $2. million $10 m illion $82 million $29 million $17 million $42 million $72 million $161 million $397 million $81 million Period 1980-1989 1990-1998 1999-2000 2001-2002 1980-2002 Describe how investment banks allocate IPO shares using the bookbuilding method. Are IPOs, as a group and over time, good long-term investments in terms of average annual returns? Describe how IPOs are like Lotto tickets. (Low expected returns, but with relatively low probability of extremely large gains acquire into Microsoft, Intel, etc) Hint this is the answer.Describe Graham and Kumars suggestive evidence that there is, indeed, a clientele effect for dividends. Which descriptor of investors like high dividend yields? Which age bracket? How do these finding suggest a clientele effect? Chapter14. CapitalStructureinaPerfectMarket Summary 1. Thecollectionofsecuritiesafirmissuestoraisecapitalfrominvestorsiscalledthe firmscapitalstructure. Equityanddebtarethesecuritiesmostcommonly applyby firms. Whenequityisusedwithoutdebt,t hefirmis saytobeunlevered. Otherwise,the amountofdebtdeterminesthefirmsleverage. . The possessorofafirmshouldchoosethecapitalstructurethatmaximizesthetotalvalue ofthesecuritiesissued. 3. Capitalmarketsaresaidtobeperfectiftheysatisfythreeconditions a. Investorsandfirmscantradethesamesetofsecuritiesat belligerentmarket pricesequaltothepresentvalueoftheirfuturecashflows. b. Therearenotaxes,transactioncosts,orissuancecostsassociatedwithsecurity trading. c. Afirmsfinancingdecisionsdonotchangethecashflowsgeneratedbyits investments,nordotheyrevealnewinformationaboutthem. 4.AccordingtoMMPropositionI,withperfectcapitalmarketsthevalueofafirmis independentofitscapitalstructure. a. Withperfectcapitalmarkets,homemadeleverageisaperfectsubstituteforfirm leverage. b. Ifotherwiseidenticalfirmswithdifferentcapitalstructureshavedifferentvalues, theLawofOnePricewouldbeviolatedandanarbitrageopportunitywould exist. 5. Themarketvaluebalancesheetshowsthatthetotalmarketvalueofafirmsassets equalsthetotalmark etvalueofthefirmsliabilities,includingallsecuri tiesissuedto investors.Changingthecapitalstructurethereforealtershowthevalueoftheassetsis dividedcrosswisesecurities,butnotthefirmstotalvalue. 6. Afirmcanchangeitscapitalstructureatanytimebyissuingnewsecuritiesandusing thefundstopayitsexistinginvestors. Anexampleisaleveragedrecapitalizationin whichthefirmborrowsmoney(issuesdebt)andrepurchasesshares(orpaysa dividend). MMPropositionIimpliesthatsuchtransactionswillnotchangetheshare price. 7. AccordingtoMMPropositionII,thecostofcapitalforleveredequityis 8. Debtislessriskythanequity,soithasalowercostofcapital.Leverageincreasestherisk ofequity,however,raisingtheequitycostofcapital. Thebenefitofdebtslowercostof capitalisoffsetbythehigher(prenominal)equitycostofcapital,leavingafirmsweightedaverage costofcapital(WACC)unchangedwithperfectcapitalmarkets 1 9. Themarketriskofafirmsassetscanbeestimatedbyitsunleveredbeta 10. Leverageincreasesthebetaofafirmsequity 11. Afirmsnetdebtisequaltoitsdebtles sitsholdingsofcashandotherrisk? free securities. Wecancomputethecostofcapitalandthebetaofthefirmsbus