Corium and Radioactivity After the Chernobyl Nuclear Meltdown

The most dangerous radioactive waste in the world is likely the Elephants Foot, the name given to the solid flow from the nuclear meltdown at the Chernobyl nuclear power plant on April 26, 1986. The accident occurred during a routine test when a power surge triggered an emergency shutdown that didnt go as planned. Chernobyl The core temperature of the reactor rose, causing an even greater power surge, and the control rods that might otherwise have managed the reaction were inserted too late to help. The heat and power rose to the point where the water used to cool the reactor vaporized, generating pressure that blew the reactor assembly apart in a powerful explosion. With no means to cool the reaction, the temperature ran out of control. A second explosion threw part of the radioactive core into the air, showering the area with radiation and starting fires. The core began to melt, producing a material resembling hot lava—except that it was also wildly radioactive. As molten sludge oozed through the remaining pipes and melted concrete, it eventually hardened into a mass resembling the foot of an elephant or, to some viewers, Medusa, the monstrous Gorgon from Greek mythology. Elephants Foot The Elephants Foot was discovered by workers in December 1986. It was both physically hot and nuclear-hot, radioactive to the point that approaching it for more than a few seconds constituted a death sentence. Scientists put a camera on a wheel and pushed it out to photograph and study the mass. A few brave souls went out to the mass to take samples for analysis. Corium What researchers discovered was that the Elephants Foot was not, as some had expected, the remnants of the nuclear fuel.  Instead, it was a mass of melted concrete, core shielding, and sand, all mixed together. The material was named corium after the portion of the reactor that produced it.   The Elephants Foot changed over time, puffing out dust, cracking, and decomposing, yet even as it did, it remained too hot for humans to approach. Chemical Composition Scientists analyzed the composition of corium to determine how it formed and the true danger it represents. They learned that the material formed from a series of processes, from the initial melting of the nuclear core into the Zircaloy (a trademarked zirconium alloy) cladding to the mixture with sand and concrete silicates to a final lamination as the lava melted through floors, solidifying. Corium is essentially a heterogeneous silicate glass containing inclusions: uranium oxides (from the fuel pellets)uranium oxides with zirconium (from the melting of the core into the cladding)zirconium oxides with uraniumzirconium-uranium oxide (Zr- U-O)zirconium silicate with up to 10% uranium [(Zr,U)SiO4, which is called chernobylite]calcium aluminosilicatesmetalsmaller amounts of sodium oxide and magnesium oxide If you were to look at the corium, youd see black and brown ceramic, slag, pumice, and metal. Is It Still Hot? The nature of radioisotopes is that they decay into more stable isotopes over time. However, the decay scheme for some elements might be slow, plus the daughter, or product, of decay might also be radioactive. The corium of the Elephants Foot was considerably lower 10 years after the accident but still insanely dangerous. At the 10-year point, radiation from the corium was down to 1/10th its initial value, but the mass remained physically hot enough and emitted enough radiation that 500 seconds of exposure would produce radiation sickness and about an hour was lethal. The intention was to contain the Elephants Foot by 2015 in an effort to diminish its environmental threat level. However, such containment doesnt make it safe. The corium of the Elephants Foot might not be as active as it was, but its still generating heat and still melting down into the base of Chernobyl. Should it manage to find water, another explosion could result. Even if no explosion occurred, the reaction would contaminate the water. The Elephants Foot will cool over time, but it will remain radioactive and (if you were able to touch it) warm for centuries to come. Other Sources of Corium Chernobyl isnt the only nuclear accident to produce corium. Gray corium with patches of yellow also formed in partial meltdowns at Three Mile Island nuclear power plant in the U.S. in March 1979 and Fukushima Daiichi nuclear power plant in Japan in March 2011. Glass produced from atomic tests, such as trinitite, is similar.

Essay on Diversity...What Is That - 655 Words

What is diversity? Diversity is when you have a group of different races and cultures come together in one setting. I think that diversity is something that everyone should be introduced to at some point of his or her life. Diversity is a concept that has played a very important role in my life, especially growing up in a community that wasn’t very diverse and switching to a community that school system embraced diversity to the fullest. By having diversity introduced into my life though out my high school years I was able to expect change as an good thing and realize that race is a physical trait and doesn’t make you who you are, delvop an new thought process and new views and I was able to comfortably interact with people different from†¦show more content†¦In class I wouldn’t participle in classroom discussions and when it came to group project I would always work by myself. One day in was in this English class my teacher had us write a paper but we had to write about another student inside the class and we had to choose whom we had to write about by we picking names out a hat. I had got this white girl named Jen Hicks. The next day before class I went to my teacher to see if I can change my partner for the writing assignment. She had asked why but I didn’t want to tell her but moments later I expressed my concerns on how I feel uncomfortable around Jen because she was different from me. My teacher said sit and told me that there is nothing wrong with being a little different and that diversity is something that this school embraces. She also went on to say that even though there is a physical difference between the two we might I a lot in common, so give it a chance. When class began I was we got together with our partners and began to collet information about each other. When Jen and I got together there was kind of and awkward silence in the beginning but she started off my telling me that her birthday was December 3, 1994 and that she like rb and hip-hop and her favorite colors were yellow and green and so much more. This huge smile rushed across myShow MoreRelatedWhat Is Diversity?583 Words   |  2 Pagesincluding important things relating to our lives. After learning what diversity, culture, and the â€Å"-isms† of education really are, I have realized that people, who looked most different from me, have turned out to be the most similar to me. The â€Å"-isms† of education include racism, classism, gender and sexism, heterosexism and GLBTQI, disability and ableism, religious diversity, and linguistic diversity. One cannot define diversity without first defining culture. At the beginning of the semesterRead MoreDiversity Within The Workplace : What Is Diversity?1857 Words   |  8 PagesDiversity in the workplace What is diversity? 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Globalisation Free Essays

TABLE OF CONTENT |S. NO. |TOPIC |PAGE NO. We will write a custom essay sample on Globalisation or any similar topic only for you Order Now |1 |INTRODUCTION |2 | |2 |ANTI-GLOBALISATION |2 | |3 |EFFECT ON EMPLOYMENT |3 | |4 |EFFECTS ON CHILD LABOUR |3 | |5 |EFFECTS ON ENVIRONMENT |4 | |6 |EFFECTS ON SOCIETY |5 | |7 |PEACE DUE TO GLOBALISATION |5 | |8 |CONCLUSION |5 | |9 |REFERENCES |6 | GLOBALIZATION 1. INTRODUCTION Globalization is the â€Å"process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications†(Simon, 2002). Globalisation is the most fascinated concept in the social science(Hirst and Thompson, 1999). It can be defined as the increased social and economic growth of the countries. The concept of globalisation is the global symbol for the country, it is a essential element for the countries economy as the business leaders are ready to face their companies for globalisation(Lechner and Boli, 2004). Globalisation helps the under developing countries to expose themselves to the wide range of opportunities and new resources internationally, which includes flow of goods across the countries. The trade between the nations helps the developing country to grow, shares the knowledge and cultural transformation(Tesic, 2012). Globalisation helps the developing countries to improve the transportation system and the communication system, using a satellite they can view the worlds event on a single frame. Globalisation is a key thing for imports and exports of goods, inflow and outflow of incomes between the nations(Wolf, 2004). 2. ANTI-GLOBALISATION There are some developing countries, which has a hatred feeling towards globalisation which led to a movement called anti- globalisation. Globalisation in some developing countries has become a problem as there is a sudden change in education system (students get uneducated), taxes and social policies. Globalisation in the developing countries may cause fluctuations in the national economy, spending money on the public goods by raising taxes, livelihood of a peasant farmer is destroyed, wages were lowered because the standard of the labour was decreased, economic insecurity increased across the nation(Lechner and Boli, 2004). It generates crisis due to global financial market which lead to heavy cost of goods in the under developing economies(Wolf, 2004). It leads to the formal resignation of the democratic government in to the favour of the private corporation. The ideology of the government in the less developed country Is severe due to globalisation. The increase in the trade flow and FDI(foreign direct investment) led to income inequality in the developed country and the developing country. There may be so many changes in government due to globalisation, government may change from one party to other party due to the government is accepting large cash flow that leads the down fall of small scale industries, starting point for child labour, pollution, social activities, change in culture, income levels decreased(Ha, 2012). 3. EFFECTS ON EMPLOYMENT The effect of globalisation leads to the trade route between the nations and FDI in the developing country. Due to investment of developed country in the less developed country, so many big industries are introduced in the nation, which is a good cause for the nation as there may so many chances for employment. Good cause of globalisation in the less developed country due to industrialisation. But there is no effect on employment on the raw material exported due to increase of the developed country workers in that part, but in the manufacturing unit there are so many chances of employment(Kaya, 2010). Globalisation of the world economy came to view that significant influence of industrialisation on developing countries. So there is a need of understanding the movement of globalisation on the developing countries to get the actual details of industrialisation. 4. EFFECTS ON CHILD LABOUR Due to globalisation the penetration of FDI in to the developing countries is high. The trade flow between the nations are also high, this is good part for the developing nation as the economy of the nation raises. But there is a lot of chances for child labour and women employment. Depending upon the GDP’s we can differentiate the rich and the poor countries where the involvement of child labour can be found, if the GDP of the nation is high there the involvement of the child labour is low. The developing countries with high GDP has an involvement of high child labour(Dagdemir and Acaroglu, 2010). The high penetration of FDI and trade flow the involvement of child labour increases and increases to the very high extent. If the income level of the middleclass family is less than the 5000USD, the net effect on the globalisation is negative. When the income of the middle class family is more than the 5000USD then the effect on globalisation is positive. This show that the positive affect of globalization along with increasing income on child labour involvement does not display continuity. The factors increasing child labour supply in developing countries has become more effective as a result of integration with global economy. Economic growth alone is not sufficient thing to struggle with child labour problem in developing countries. The governments should show interest on some factors to the labour such as income distribution and poverty. Increased importance should be given to regulate labour market conditions in the case of increased involvement of child labours. 1. WOMEN EMPLOYMENT As there are so many company introduced by a developed country in the developing countries, they need a lot of workers. The developing countries has lot of middle class families, so due to earning the women will find a job in the newly introduced companies. In a developing countries most of the womens work when the nation is on the effect of globalisation, they are not professionally trained to that work, womens are given jobs for a long shift with very low wages. So due to this there may be lot of mental tensions in the family. 5. EFFECTS ON ENVIRONMENT (POLLUTION) Globalisation encouraged the developed countries in increasing production, which uses the lot of natural resources of the developing country and effects the environment. Pollution is a harmful effect in globalisation, as it will lead to the death of the persons. The introduction of industries under the effect of globalisation will pollute the air and water with harmful gases and chemicals. These foreign companies developed their base in developing countries as they found the cost of labour is low and high use natural resources where the resources availability is high. This led to the massive industrial revolution in the developing countries which caused great damage to the environment. (Stiglitz, 2002) 1. WATER POLLUTION The effect of globalisation, so many foreign companies are introduced In the developing country. There may be so many chemical industries are introduced, the chemicals which is released from the industries is dumped into water which leads to contamination of water and the water is used by the people, which results in water borne disease(Pologeorgis and Overbaugh, 2011). 2. DEFORESTRATION AND LAND POLLUTION For introducing new industries by the foreign countries in the developing countries under the effect of globalisation, they need a large space to built a company for a low cost. The industries are built in the forest area by cutting down the trees, which is a very harmful effect for the environment as there may be so many effect like global warming, increase of CO2 in the air, short fall of rain, soil erosion and land degradation(Stiglitz, 2002). The industries which are using plastic for manufacturing is very harmful for the land as it a non bio-degradable substances. 3. AIR POLLUTION Due to globalisation, the gases released from the industries are mixed up with air which to a breathing problem because of the gases released there may be effect on ozone layer and may cause depletion in ozone layer. This is very harmful effect for environment(Pologeorgis and Overbaugh, 2011). 6. EFFECTS ON SOCIETY Due to globalisation, there are so many changes in the developing countries like social life style and exchange of culture. The rapid change in society is due to the adoption of western culture in the life style and exchange of culture from developed countries. Things became more sophisticated than the older days. These sudden changes lead to change of life style in the developing country. This disturbs the original culture of the country, example : India, whose culture is a traditional culture but under the globalisation the exchange of culture was done. Due to this the no people are following the old culture(Ghosh, 2011). 7. PEACE DUE TO GLOBALISATION Historically the nature of international system started to change when globalisation came into existence. Because of globalisation, the international exposure of the people is recognised. The net effect of globalisation is positive and favourable in creating the co existence between the two nations. Globalization plays a important role in taking some of the important decisions by the leaders. Globalization not only changes the thinking of a leader but helps to take decisions on market trends, socio economic factors and many more in taking decisions which gives way for peaceful disposition of power(Choi, 2010). 8. CONCLUSION Thus we can conclude that globalisation has both negative and positive effects on developing country. There are so many positive effect on the developing country but the effect was very low. As we analysed the above context, the globalisation has a negative effect also but it is a step forward than the positive effect. There are so many harmful effect on globalisation like pollution, environment effect, child labour, anti social activities, health and culture, these effects says that the globalisation has done more harm than good especially in the developing countries. 9. REFERENCES Choi, S. -W. , 2010. Beyond Kantian Liberalism Peace through Globalization? Conflict Management and Peace Science 27, 272–295. Dagdemir, O. , Acaroglu, H. , 2010. The effects of globalization on child labor in developing countries. Business Economic Horizons 2, 37–47. Ghosh, B. , 2011. Cultural Changes and Challenges in the Era of Globalization The Case of India. Journal of Developing Societies 27, 153–175. Ha, E. , 2012. Globalization, Government Ideology, and Income Inequality in Developing Countries. Journal of Politics 74, 541–557. Hirst, P. Q. , Thompson, G. , 1999. Globalization in question? : the international economy and the possibilities of governance. Polity Press, Cambridge, En. Kaya, Y. , 2010. Globalization and Industrialization in 64 Developing Countries, 1980-2003. Social Forces 88, 1153–1182. Lechner, F. , Boli, J. , 2004. The globalization reader. Blackwell Pub. , Malden, MA. Pologeorgis, N. , Overbaugh, S. , 2011. Socioeconomic and Environmental Effects of Globalization on the Transitional Economies of Eastern and Central Europe. International Journal of Business Economics Perspectives 6, 55–69. Simon, J. , 2002. What is globalisation? [WWW Document]. the Guardian. URL http://www. guardian. co. uk Stiglitz, J. E. , 2002. Globalization and its discontents. W. W. Norton, New York. Tesic, J. , 2012. Measuring Globalization in the Context of Transition Process – the Case of Western Balkan Countries. Economic Review: Journal of Economics Business / Ekonomska Revija: Casopis za Ekonomiju i Biznis 10, 33–46. Wolf, M. , 2004. Why globalization works. Yale University Press, New Haven. How to cite Globalisation, Essay examples Globalisation Free Essays string(90) " ascent to additional health dangers and presents new challenges and threats for plagues\." question (1) part -1- what is globalisation? Discuss the advantages and the disadvantages of globalisation? When we mention the word Globalisation what do we mean by it and what we understand? An early depiction of globalisation was penned by the American entrepreneur-turned-minister Charles Taze Russell who begat the term ‘corporate giants’ in 1897, granted that it was not until the 1960s that the term started to be substantially utilized by economists and other social researchers. The term has since then attained boundless utilize as a part of the mainstream press by the later large part of the 1980s. Since its origin, the idea of globalisation has motivated various contending definitions and elucidations for instance, as a name for the methodology of expanding the connectivity and relationship of the planet’s business sectors and organizations? This technique has speeded up incredibly in the most recent two decades as innovative developments make it simpler for individuals to voyage, impart, and work together globally. We will write a custom essay sample on Globalisation or any similar topic only for you Order Now And also is the Process of amplifying social relations crosswise over planet space? Such developments come up from the developments of individuals, things and plans. It can’t be demarcated as far as internationalization or reconciliation as certain theorists have prescribed, however the aforementioned infrastructures may be a result of globalisation, Globalisation depicts the transaction crosswise over societies of macro-social powers. The aforementioned strengths incorporate religion, governmental issues, and matters in profit making. Globalisation effected many different aspects in our life creating it is own advantages along with the disadvantages, coming up the advantages of globalisation. Employment- Recognized as a standout amongst the most critical advantages, globalisation has expedited the generation of various employment opportunities. Associations are moving towards the advancing nations to get labour power. This evidently indulges employment and earnings generation to the individuals in the host nation. Likewise, the relocation of individuals, which has gotten simpler, has prompted better works opportunities. Education- an extremely basic advantage that has helped the populace is the spread of education. With various educational organisations around the world, one can move out from the home nation for better chances somewhere else. Consequently, mixing with diverse societies, gathering and gaining experience from different individuals through the medium of instruction is everything because of globalisation. Advancing nations or labour-serious nations have profited the most. Product Quality- The onset of global trade has given ascent to powerful rivalry in the markets. No longer does one find set number of wares available. A specific item might get many alternatives with distinctive costs. The feature value has been upgraded in order to hold the customers. Today the customers may bargain with the value extent yet not with the quality of the item. Level or oppressed value can conflictingly influence shopper fulfilment. Free Movement of Capital- Capital, the spine of each economy, is of prime criticalness for the best possible working of the economy. Today, transferring cash through banks is conceivable simply by the click of a catch, all because of the electronic transfer that has made life exceptionally agreeable. Numerous colossal firms are investing in the advancing nations by setting up industrial units outside their home nation. This accelerates Foreign Direct Investment, which assists in advertising economic development in the host country. Communication- Information technology has played an indispensable part in accumulating the nation’s closer terms of communication. Each and every information is effectively approachable from generally each corner of the planet. Dissemination of information is no longer a dull undertaking, and can happen in seconds. The Internet has fundamentally influenced the worldwide economy, subsequently giving steer access to information and items or product. GDP Increase- Gross Domestic Product, generally recognised as GDP, is the cash value of the last services and goods inside the domesticated domain of the nation throughout an accounting year. As the market has expanded, the demand and scope for a feature has expanded. Makers familiarise their items and fixes consistent with the prerequisites of different economies in this way tapping the untapped markets. Accordingly, the final result regarding budgetary addition improves the GDP of the nation. Provided that statistics are of any sign, the GDP of the advancing nations has expanded twice to the extent that heretofore. Coming up, some of the disadvantages of globalisation as well. Loss of Culture-Provincially, people of a specific nation take after its culture and traditions from time immemorial. With huge number of people moving into and out of a nation, the culture takes a rearward sitting arrangement. People might adapt to the culture of the occupant nation. Therefore people tend to follow foreign culture instead their own, disregarding their particular roots. This can give ascent to culture conflicts. Environment Degradation- The industrial revolution has modified the viewpoint of the economy. Industries are utilizing natural resources by method of mining, penetrating, and so on, which puts a load on nature. Natural resources are draining and are on the borderline of coming to be terminated. Deforestation is worked on owing to the non-availability of area, subsequently radically lessening the forest front. This in turn makes unevenness in the earth prompting environmental change and event of natural catastrophes. Conflicts-Each economy needs to be at the top spot and be the guider. The quick-paced economies that are the advanced nations are vying to be the inimitable force. It has given ascent to terrorism and different types of savagery. Such acts not just aim misfortune of human life and yet colossal economic misfortunes. Monopoly- Monopoly is a scenario wherein one singular producer has a state in a specific product or products. It is conceivable that when a product is the leader in its field, the association may start to adventure the purchasers. As there exists no nearby contenders, the guide profits from the deal of its product, which might later prompt illicit and unscrupulous practices on being emulated. Monopoly is disastrous as it extends the crevice between the advanced and advancing nations. Health Issues- Globalization has given ascent to additional health dangers and presents new challenges and threats for plagues. You read "Globalisation" in category "Papers" An extremely standard sample is the dawn of HIV/AIDS. Having its source in the wilderness of Africa, the infection has spread like rapidly spreading conflagration all through the globe quickly. Food things are additionally transported to different nations, and this is a matter of concern, in particular in the event of perishable things. The security regulations and the gauges of food preparation are distinctive in diverse nations, which might represent an extraordinary hazard to potential health risks. And so on there are more of the advantages and the disadvantages of Globalisation, effected as in our everyday lives. question (1) part -2- How might the internet and the associated World Wide Web AFFECT INTERNATIONAL business activity and the globalisation of the world economy? The Internet revolution a few years ago there were some individuals who thought the Internet was a craze. Those days are doubtlessly over. Individuals who opposed the ascent of innovation have long been left in the dust keeping in mind the end goal to clear a path for the ascent of more propelled masses. The aforementioned are the individuals who comprehended the force of the Internet and they knew how it could take their businesses to an entire new level. This was a brief introduction about the starting of the internet revolution. Therefore the internet now has a huge effectiveness in the international business activities. In general, the internet made the movement of the businesses internationally essayer. Following, some examples of businesses such as: From Local to Global- The situation when an association sets up an online site and markets it legitimately, abruptly it is opening up a gigantic buyer base and the possibilities outcomes are perpetual. With the click of a bind, they have the ability to system as far and wide as possible. The downside of this is that abruptly business ends up being significantly more focused. It can require some time and cash to guarantee the association is at the highest point of the list when somebody does a Google inquiry on a product. Yet with know-how and a little elbow grease, the Internet could be an amazing asset. Working Remotely- How often have you caught somebody gloat about the way that he headed off to work in his bunny shoes? Before the Internet, this did not happen. There are various jobs now that need just a computer, Wi-Fi and an Internet connection for the employee to be up and running. More than anything, the bunny-shoes marvel influences organisations that are sole proprietors. In any case, there are virtual head-seekers that representative out the aforementioned remote workers and succeed in enormous business for themselves. Educated Consumers- Presently a potential purchaser is not at the benevolence of a representative. Numerous huge name retailers give rewards to their selling specialists for offering certain things every month. A client may not fundamentally get the item that fits his or her needs. Presently, if somebody is searching for a computer, new auto or kitchen machine, there are numerous online sites that offer free charge customer service and master audits on products. Virtual Retailers- There is numerous businesses that now manage singularly from the Internet. Take Amazon, for instance. A purchaser can sort into the Amazon web index simply about anything he needs, and inside seconds it is right at his fingertips. Further, when he purchases the thing and has it sent to him, he can track it each venture of the way. Assuming that something tends to be transported FedEx, a following number is every one of the a client ought to discover what city his bundle is in, if it is in the truck or at the centre, and what time it will touch base at his entryway. In a common sans, any one ready to produce a product can now make the people aware to their service or items without being compelled to head off to the upkeep of needing to publicise in standard media. This incorporates the promotion payment and continuous back for the product. There are a ton of organisations today that might not exist without the web. The web has direct effectiveness in the growth of the global economies, through, technology Communication systems, and Internet access according to the fact of that internet or web is easy and fast therefore, the world now mainly use it in all the collaborations that affect the world market such as, stock market which is needed those types of services, banking as well, and so on. Conclusion In conclusion, after we mention the understanding of the word globalisation and where it comes from, as well as some of the definition. The advantages and the disadvantages of globalisation therefore we got the understanding of how is globalisation important in our life according to the changes that happened in our life due to the involvement of globalisation for example globalisation improve our education, industries, trade movement, and†¦ etc. although globalisation improved our life, but we still have to face the consequences that followed that improvement as it, effected out health, natural resources and so many deferent aspects. Also we come through the important or the effectiveness of the web or the internet when it comes to global business and globalisation of the world economic. Therefore the internet revolution has made a big different in the global or international businesses as it is mentioned earlier in the essay. According to that we could see that and how it is important now in the international businesses movement (fast, easy, security, and qualify) As well as, the globalisation of the world economy. Reference List * Reni, W. 2011) Main meaning of globalisation Available at: http://www. lse. co. uk/financeglossary. asp? searchTerm=globalisationiArticleID=1339definition=globalisation(Accessed: 1 March 2013) * Richard, V. (2004) Globalisation background. Available at: http://uk. answers. yo. com/question/index? qid=20100520100117AACVwow (Accessed: 11 February 2013) * Krohne, H. (2002) Advantages of globalisation pdf] Available at: http://www. buzzle. com/articles/advantages-and-disadvantages-of-glob alization. html (Accessed: 8 March 2013) * Horton, J. 2010) Available at: http://www. investorwords. com/2182/globalization. html (Accessed: 11 January 2013) * Johanson, M. (1990, January 16). Sara Fere. Retrieved April 6, 2011, from Jioni: www. jioni. co. ke/thy/sfere/ (Accessed: 6 March 2013) * Smith, G. (2010). Disadvantages of globalisation Available at: http://www. buzzle. com/articles/disadvantages-of-globalization. html (Accessed: 13 February 2013) * Hellen, G. (7April 2002). cls. Retrieved 6 April, 2007, from Williammillan: http://www. slideshare. et/gunacharlotte/globalization-of-world-economy-ppt (Accessed: 3 February 2013). * Harison, K. (2 April 2004). worled wide web. In K. Harison, enhance us in Importance of web in international busness (pp. 12-27). New York: Bookpoint. (Accessed: 8 January 2013) * Welther, M. (16 January 2000). Ray Juck. Retrieved March 6, 2013, from Jioni: http://pc. net/glossary/importd/Thecnology. working (Accessed: 7 January 2013) * Meradch, M. ( 2005). Importance of the internet. Available at http://en. world. economic-edia. org/internet-accesus/uk (Accessed: 28 February 2013) How to cite Globalisation, Papers

Oligopoly and Marginal Cost Firms free essay sample

An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher costs for consumers. [1] With few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm therefore influence and are influenced by the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants. Oligopoly is a common market form where a small number of firms are in competition. As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized. This measure expresses the market share of the four largest firms in an industry as a percentage. For example, as of fourth quarter 2008, Verizon, ATT, Sprint, and T-Mobile together control 89% of the US cellular phone market. Oligopolistic competition can give rise to a wide range of different outcomes. In some situations, the firms may employ restrictive trade practices (collusion, market sharing etc.) to raise prices and restrict production in much the same way as a monopoly. Where there is a formal agreement for such collusion, this is known as a cartel. A primary example of such a cartel is OPEC which has a profound influence on the international price of oil. Firms often collude in an attempt to stabilize unstable markets, so as to reduce the risks inherent in these markets for investment and product development. [citation needed] There are legal restrictions on such collusion in most countries. There does not have to be a formal agreement for collusion to take place (although for the act to be illegal there must be actual communication between companies)–for example, in some industries there may be an acknowledged market leader which informally sets prices to which other producers respond, known as price leadership. In other situations, competition between sellers in an oligopoly can be fierce, with relatively low prices and high production. This could lead to an efficient outcome approaching perfect competition. The competition in an oligopoly can be greater when there are more firms in an industry than if, for example, the firms were only regionally based and did not compete directly with each other. Thus the welfare analysis of oligopolies is sensitive to the parameter values used to define the markets structure. In particular, the level of dead weight loss is hard to measure. The study ofproduct differentiation indicates that oligopolies might also create excessive levels of differentiation in order to stifle competition. Oligopoly theory makes heavy use of game theory to model the behavior of oligopolies: Stackelbergs duopoly. In this model the firms move sequentially (see Stackelberg competition). Cournots duopoly. In this model the firms simultaneously choose quantities (see Cournot competition). Bertrands oligopoly. In this model the firms simultaneously choose prices (see Bertrand competition). Characteristics[edit] Profit maximization conditions An oligopoly maximizes profits . Ability to set price Oligopolies are price setters rather than price takers. [2] Entry and exit Barriers to entry are high. The most important barriers are economies of scale, patents, access to expensive and complex technology, and strategic actions by incumbent firms designed to discourage or destroy nascent firms. Additional sources of barriers to entry often result from government regulation favoring existing firms making it difficult for new firms to enter the market. [4] Number of firms Few – a handful of sellers. [3] There are so few firms that the actions of one firm can influence the actions of the other firms. [5] Long run profits Oligopolies can retain long run abnormal profits. High barriers of entry prevent sideline firms from entering market to capture excess profits. Product differentiation Product may be homogeneous (steel) or differentiated (automobiles). [4] Perfect knowledge Assumptions about perfect knowledge vary but the knowledge of various economic factors can be generally described as selective. Oligopolies have perfect knowledge of their own cost and demand functions but their inter-firm information may be incomplete. Buyers have only imperfect knowledge as to price, cost and product quality. Interdependence The distinctive feature of an oligopoly is interdependence. Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions. Therefore the competing firms will be aware of a firms market actions and will respond appropriately. This means that in contemplating a market action, a firm must take into consideration the possible reactions of all competing firms and the firms countermoves. [7] It is very much like a game of chess or pool in which a player must anticipate a whole sequence of moves and countermoves in determining how to achieve his or her objectives. For example, an oligopoly considering a price reduction may wish to estimate the likelihood that competing firms would also lower their prices and possibly trigger a ruinous price war. Or if the firm is considering a price increase, it may want to know whether other firms will also increase prices or hold existing prices constant. This high degree of interdependence and need to be aware of what other firms are doing or might do is to be contrasted with lack of interdependence in other market structures. In a perfectly competitive (PC) market there is zero interdependence because no firm is large enough to affect market price. All firms in a PC market are price takers, as current market selling price can be followed predictably to maximize short-term profits. In a monopoly, there are no competitors to be concerned about. In a monopolistically-competitive market, each firms effects on market conditions is so negligible as to be safely ignored by competitors. Non-Price Competition Oligopolies tend to compete on terms other than price. Loyalty schemes, advertisement, and product differentiation are all examples of non-price competition. Modeling[edit] There is no single model describing the operation of an oligopolistic market. The variety and complexity of the models is because you can have two to 10 firms competing on the basis of price, quantity, technological innovations, marketing, advertising and reputation. Fortunately, there are a series of simplified models that attempt to describe market behavior by considering certain circumstances. Some of the better-known models are the dominant firm model, the Cournot-Nash model, the Bertrand model and the kinked demand model. Cournot-Nash model[edit] Main article: Cournot competition The Cournot-Nash model is the simplest oligopoly model. The model assumes that there are two â€Å"equally positioned firms†; the firms compete on the basis of quantity rather than price and each firm makes an â€Å"output decision assuming that the other firm’s behavior is fixed. †[8] The market demand curve is assumed to be linear and marginal costs are constant. To find the Cournot-Nash equilibrium one determines how each firm reacts to a change in the output of the other firm. The path to equilibrium is a series of actions and reactions. The pattern continues until a point is reached where neither firm desires â€Å"to change what it is doing, given how it believes the other firm will react to any change. The equilibrium is the intersection of the two firm’s reaction functions. The reaction function shows how one firm reacts to the quantity choice of the other firm. [10] For example, assume that the firm 1’s demand function is P = (M Q2) Q1 where Q2 is the quantity produced by the other firm and Q1 is the amount produced by firm 1,[11] and M=60 is the market. Assume that marginal cost is CM=12. Firm 1 wants to know its maximizing quantity and price. Firm 1 begins the process by following the profit maximization rule of equating marginal revenue to marginal costs. Firm 1’s total revenue function is RT = Q1 P= Q1(M Q2 Q1) = M Q1- Q1Q2 Q12. The marginal revenue function is . [note 1] RM = CM M Q2 2Q1 = CM 2Q1 = (M-CM) Q2 Q1 = (M-CM)/2 Q2/2 = 24 0. 5 Q2 [1. 1] Q2 = 2(M-CM) 2Q2 = 96 2 Q1 [1. 2] Equation 1. 1 is the reaction function for firm 1. Equation 1. 2 is the reaction function for firm 2. To determine the Cournot-Nash equilibrium you can solve the equations simultaneously. The equilibrium quantities can also be determined graphically. The equilibrium solution would be at the intersection of the two reaction functions. Note that if you graph the functions the axes represent quantities. [12] The reaction functions are not necessarily symmetric. [13] The firms may face differing cost functions in which case the reaction functions would not be identical nor would the equilibrium quantities. Bertrand model[edit] Main article: Bertrand competition The Bertrand model is essentially the Cournot-Nash model except the strategic variable is price rather than quantity. [14] The model assumptions are: There are two firms in the market They produce a homogeneous product They produce at a constant marginal cost Firms choose prices PA and PB simultaneously Firms outputs are perfect substitutes Sales are split evenly if PA = PB[15] The only Nash equilibrium is PA = PB = MC. Neither firm has any reason to change strategy. If the firm raises prices it will lose all its customers. If the firm lowers price P MC then it will be losing money on every unit sold. [16] The Bertrand equilibrium is the same as the competitive result. [17] Each firm will produce where P = marginal costs and there will be zero profits. [14] A generalization of the Bertrand model is theBertrand-Edgeworth Model that allows for capacity constraints and more general cost functions. Kinked demand curve model[edit] Main article: Kinked demand According to this model, each firm faces a demand curve kinked at the existing price. [18] The conjectural assumptions of the model are; if the firm raises its price above the current existing price, competitors will not follow and the acting firm will lose market share and second if a firm lowers prices below the existing price then their competitors will follow to retain their market share and the firms output will increase only marginally. [19] If the assumptions hold then: The firms marginal revenue curve is discontinuous (or rather, not differentiable), and has a gap at the kink[18] For prices above the prevailing price the curve is relatively elastic [20] For prices below the point the curve is relatively inelastic [20] The gap in the marginal revenue curve means that marginal costs can fluctuate without changing equilibrium price and quantity. [18] Thus prices tend to be rigid. Examples[edit] In industrialized economies, barriers to entry have resulted in oligopolies forming in many sectors, with unprecedented levels of competition fueled by increasing globalization. Market shares in an oligopoly are typically determined by product development and advertising. For example, there are now only a small number of manufacturers of civil passenger aircraft, though Brazil (Embraer) and Canada (Bombardier) have participated in the small passenger aircraft market sector. Oligopolies have also arisen in heavily-regulated markets such as wireless communications: in some areas only two or three providers are licensed to operate. Australia[edit] Most media outlets are owned either by News Corporation, Time Warner, or by Fairfax Media[21] Grocery retailing is dominated by Coles Group and Woolworths. Banking is dominated by ANZ, Westpac, NAB, and Commonwealth Bank. To an extent this oligopoly is enshrined in law in what is known as the Four pillars policy, in order to ensure the stability of Australias banking system. Most of the telecommunications in Australia is delivered by Telstra or Optus. Other brands are virtual network operators (VNO). Canada[edit] Six companies (Royal Bank of Canada, Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada) control the banking industry. As of 2008, three companies (Rogers Wireless, Bell Mobility and Telus Mobility) share over 94% of Canadas wireless market. [22][23] 4 companies control the internet service provider market, (Rogers), (Bell), (Telus), (Shaw) 8 companies control the oil and gas market, (Husky Energy) (Imperial Oil) (Nexen) (Petro-Canada) (Shell Canada) (Suncor Energy) (Syncrude Canada) (Talisman Energy) India[edit] The petroleum and gas industry is dominated by Indian Oil, Bharat Petroleum, Hindustan Petroleum and Reliance. Most of the telecommunication in India is dominated by Airtel, Vodafone,Idea, Reliance European Union[edit] The VHF Data Link market as air-ground part of aeronautical communications is controlled by ARINC and SITA, commonly known as the organisations providing communication services for the exchange of data between air-ground applications in the Commission Regulation (EC) No 29/2009. United Kingdom[edit] Five banks (Barclays, Halifax, HSBC, Lloyds TSB and Natwest) dominate the UK banking sector, they were accused of being an oligopoly by the relative newcomer Virgin bank. Four companies (Tesco, Sainsburys, Asda and Morrisons) share 74. 4% of the grocery market. The detergent market is dominated by two players, Unilever and Procter Gamble. [26] Six utilities (EDF Energy, Centrica, RWE npower, E. on, Scottish Power and Scottish and Southern Energy) share 99% of the retail electricity market. [27] United States[edit] Many media industries today are essentially oligopolies. Six movie studios receive almost 87% of American film revenues. [28] The television and high speed internet industry is mostly an oligopoly of seven companies: The Walt Disney Company, CBS Corporation, Viacom, Comcast, Hearst Corporation, Time Warner, and News Corporation. See Concentration of media ownership. Four wireless providers (ATT Mobility, Verizon Wireless, T-Mobile, Sprint Nextel) control 89% of the cellular telephone service market. [30] This is not to be confused with cellular telephone manufacturing, an integral portion of the cellular telephone market as a whole. Healthcare insurance in the United States consists of very few insurance companies controlling major market share in most states. For example, Californias insured population of 20 million is the most competitive in the nation and 44% of that market is dominated by two insurance companies, Anthem and Kaiser Permanente. [31] Anheuser-Busch and MillerCoors control about 80% of the beer industry. [32] In March 2012, the United States Department of Justice announced that it would sue six major publishers for price fixing in the sale of electronic books. The accused publishers are Apple, Simon Schuster Inc, Hachette Book Group, Penguin Group, Macmillan, and HarperCollins Publishers. [33][34][35] Worldwide[edit] The accountancy market is controlled by PriceWaterhouseCoopers, KPMG, Deloitte Touche Tohmatsu, and Ernst Young (commonly known as the Big Four)[36] Three leading food processing companies, Kraft Foods, PepsiCo and Nestle, together achieve a large proportion[vague] of global processed food sales. These three companies are often used as an example of Rule of three,[37] which states that markets often become an oligopoly of three large firms. Boeing and Airbus have a duopoly over the airliner market. [38] General Electric, Pratt and Whitney and Rolls-Royce plc own more than 50% of the marketshare in the airliner engine market. Three credit rating agencies (Standard Poors, Moodys, and Fitch Group) dominate their market and extend their crucial importance into the financial sector. See Big Three (credit rating agencies). Nestle, The Hershey Company and Mars, Incorporated together make most of the candy made worldwide. Microsoft, Sony, and Nintendo dominate the video game console market. Demand curve[edit] In an oligopoly, firms operate under imperfect competition. With the fierce price competitiveness created by this sticky-upward demand curve, firms use non-price competition in order to accrue greater revenue and market share. Kinked demand curves are similar to traditional demand curves, as they are downward-sloping. They are distinguished by a hypothesized convex bend with a discontinuity at the bend–kink. Thus the first derivative at that point is undefined and leads to a jump discontinuity in themarginal revenue curve. Classical economic theory assumes that a profit-maximizing producer with some market power (either due to oligopoly or monopolistic competition) will set marginal costs equal to marginal revenue. This idea can be envisioned graphically by the intersection of an upward-sloping marginal cost curve and a downward-sloping marginal revenue curve (because the more one sells, the lower the price must be, so the less a producer earns per unit). In classical theory, any change in the marginal cost structure (how much it costs to make each additional unit) or the marginal revenue structure (how much people will pay for each additional unit) will be immediately reflected in a new price and/or quantity sold of the item. This result does not occur if a kink exists. Because of this jump discontinuity in the marginal revenue curve,marginal costs could change without necessarily changing the price or quantity. The motivation behind this kink is the idea that in an oligopolistic or monopolistically competitive market, firms will not raise their prices because even a small price increase will lose many customers. This is because competitors will generally ignore price increases, with the hope of gaining a larger market share as a result of now having comparatively lower prices. However, even a large price decrease will gain only a few customers because such an action will begin a price war with other firms. The curve is therefore more price-elastic for price increases and less so for price decreases. Firms will often enter the industry in the long run.

Major Forms of Literature Flashcard

Major Forms of Literature

4 Common Questions About How to Vote in College

4 Common Questions About How to Vote in College With so much else to juggle while in college, you may not have thought much about how to vote. Even if its your first election or going to school means you live in a different state, figuring out how to vote in college can be relatively simple.  Ã¢â‚¬â€¹Ã¢â‚¬â€¹ I Live in One State but Go to School in Another. Where Do I Vote? You can be a resident of two states, but you can only vote in one. So if youre a college student who has a permanent address is in one state and lives in another to attend school, you can choose where you want to cast your vote. Youll need to check with your home state or the state your school is in for more details on registration requirements, how to register and, of course, how to vote. You can generally find this information through a states Secretary of State website or  the board of elections. Additionally, if you decide to vote in your home state but are living in another state, youll probably need to vote absentee. Make sure you allow yourself enough time to receive - and return - your ballot through the mail. The same goes for changing registration: While a few states offer same-day voter registration, many have firm deadlines for registering new voters before an election.   How Do I Vote in My Hometown Election If Im Away at School? If, say, you live in Hawaii but are in college in New York, chances are you arent going to be able to head home to vote. Assuming you want to remain a registered voter in Hawaii, youll need to register as an absentee voter and have your ballot sent to you at school. How Do I Vote in the State Where My School Is? As long as youve registered to vote in your new state, you should get voter materials in the mail that will explain the issues, have candidate statements and say where your local polling place is. You may very well vote right on your campus. If not, theres a pretty good chance that a lot of students at your school will need to get to the neighborhood polling place on Election Day. Check with your student activities or student life office to see if they are running shuttles or if there are any carpooling initiatives involved for reaching the polling place. Lastly, if you dont have transportation to your local polling place or wont be able to vote on Election Day for some other reason, see if you can vote by mail.   Even if your permanent address and your school are in the same state, youll want to double-check your registration. If you cant get home on Election Day, you either need to vote absentee or consider changing your registration to your school address so you can vote locally. Where Can I Get More Information on the Issues That Affect College Students? College students are a critical - and very large - voting constituency who are often at the forefront of political activism. (Its not an accident presidential debates are historically held on college campuses.) Most campuses have programs and events, put on by campus or local political parties and campaigns, that explain different candidates views on certain issues. The internet is full of information on elections but put in the effort to seek out credible sources. Look to non-profit, non-partisan organizations for details on election issues, as well as quality news sources and political parties websites, which have information on initiatives, candidates, and their policies.

Comparing The Bible & Milton's Paradise Lost Essay

Comparing The Bible & Milton's Paradise Lost - Essay Example This inclination to religious themes was manifested in his works prior to Paradise Lost. Some of these works are On the Morning of Christs Nativity, The Passion, and Upon the Circumcision (Luxon). This religious disposition displayed in his works continued after Paradise Lost was published; two examples of his works are Paradise Regained, and Samson Agonistes (Luxon). But among his literary works with religious themes, the best one would be his epic masterpiece, Paradise Lost. However, it would be objectionable to call Milton’s Paradise Lost to be the greatest literary work or the greatest epic of all time. For one, Paradise Lost may be in some way, a copy of the accounts of Moses about man’s first offense against God. The plot from the Bible was adapted in poetry form but Milton intricately laced the story with descriptive details that even include dialogues between Satan and the other rebel angels; narrations about the origin of the world by an angel named Raphael; and conversations between Adam and Eve. Another reason would be its similarities with the early epics Aeneid by Virgil and Iliad by Homer. Paradise Lost is analogous to Virgil’s Aeneid and Homer’s Iliad mainly because of their similarities in their source of inspiration. Other noticeable similarities would be on the plot, the characters involved and the relationships of the characters to each other in the three epics. Before giving further details about Paradise Lost’s similarities with the other two epics, it would be best to know beforehand Milton’s literary basis in writing Paradise Lost and that would be the Bible. The fall of man as accounted in Paradise Lost has some similarities and differences from the Biblical account of the entry of sin in earth. Being based on the Bible, the similarities are very obvious, but the differences require to be discussed. In the

Compare TWO different approaches to the study of food, and discuss Essay

Compare TWO different approaches to the study of food, and discuss what you find attractive or unhelpful about them - Essay Example Furthermore, an underlying framework cannot remain constant since it is susceptible of transformation under external stimuli. Both structuralism and post-structuralism tend to provide a theoretical framework that can help in understanding how cultures are affected by their food and cooking practices but post-structuralism provides a relatively flexible approach that accepts human influence and effects of historic events on culture. In order to understand the nature and behaviour of food with the help of structuralism, it is important to analyze the framework of this approach. Structuralism is an inspired phenomena hailing from Gestalt psychology. Gestalt’s theory attempts to find out a rationale ground of how human mind works and derives patterns out of random or unobvious events. This approach further explains that events, individuals or objects having same attributes tend to form an alliance and stay together. Similarly, structuralism is an approach through which human behav iour can be analyzed with the help of different frame of references networked together. This network of relationships helps in identifying the actual position of a norm, ritual or an object in human life. Through this framework, early linguists and anthropologists tend to identify the signs showing common indications. Therefore, structuralism became synonymous with semiology. These semiotics or doctrines of semiology helped the literary thinkers to deduct common patterns from folk tales that helped in understanding relations of cultures to each other and their further evolution along with rationales of various norms and traditions. Although this approach was a result of literary research performed by Ferdinand de Saussure and Vladimir Propp however it was given a broader definition in 1960s by Claude Levi-Strauss. Levi-Strauss used this approach to analyze human patterns of kinship and myths. This research was further extended by various others such as Mary Douglas. Levi-Strauss per formed his further research to identify the reasons for existence of similar myths present in different cultures. He explained that no myth has a value in its singular form and in order to have a meaning; it is supposed to have a certain place in myth’s network or structure. Hence, myths exists universally and they are source of resolutions to social conflicts. Along with myths, rituals and traditions, food and activities related to it play a vital role in understanding relationships existing between cultures. Levi-Strauss (1966, 1970) helped in identifying common patterns among different cultures and segregated the manner of culinary art of cooking in three fundamental categories i.e. boiling, roasting and steaming. These fundamental cooking principles indicated that through norms and methods adopted by a group of people, a meaning is produced in a culture which is reproduced and evolved through other peripheral practices. Activities as diverse as food preparations and exist ence of millions of recipes concluded that there were some common factors underlying in these cultures and they indicated a particular pattern of kinship that is known to different groups and individuals existing in a society, operating at unconscious level

Composite Cycle Frame Manufacturing Methods Project Assignment - 1

Composite Cycle Frame Manufacturing Methods Project - Assignment Example It also seeks to look at the various effective ways which hospitals and related institutions can store such records. It is important that they keep health records using reliable methods so that they ensure reliability of the data and easy retrieval of the same. Health informatics deals with ways of storing, retrieving and using information related to health and biomedicine. It has tools that are used in achieving storage and use of the data like computers, information systems and medical terms among others. Health informatics is also known as Health information systems. Areas of application include nursing and in public health. There are international standards that have been set regarding health informatics to ensure a standardized way of medical informatics (Joslin & Kahn 2005). Using computers and technology has been the best way to store data of patients in medicine all over the world. Electronic health records is the most reliable and accurate way of storing data because computers are more accurate than humans. Health institutions do not longer store records of patients manually like before the emergence of technology (Whetton, 2005). A good example of such online application programs is the ICD9-CM. they are codes used to store information of Diabetic patients in health institutions. The United States department for health is encouraging health institutions to migrate to the use of electronic means to store data. International Classification of Diseases (ICD) is an effective way of tracking many types of diseases in the world. Knowledge of this coding method is very important for health professionals because it helps in maintaining proper health records in hospitals. It is a code that contains a set of volumes with some instructions. It contains volume one to volume three which gives the procedures. Volume one

Factors Affecting Capital Budgeting of ICT Sector Firms

Factors Affecting Capital Budgeting of ICT Sector Firms This research proposal has been written to compare the factors affecting capital budgeting of firms in Information and Communication Technology sector in Thai. The survey factors of decision making in capital budgeting. The many decisions that top management must make in firms. This method is one duty of a financial manager to choose investments with satisfactory cash flows and rates of return. The factors affecting to make decision in capital budgeting, which is the allocation of funds among alternative investment opportunities, is crucial to corporate success. The explicitly considers how well-managed companies and the competition to hook up in segment market of in information and communication technology sector. Overview of Information and Communications firms in Thailand The most economies in the world people consume by spending money to buy goods and services. The ultimate aim of business is to maximize the market value of the firms common stock. Whereby, this means the wealth of its shareholders (Sharpiro 2005). The purpose focus on shareholder value begins with the simple economic understanding. Therefore, the roles of current business can growth through affecting quality competition. This research proposal has the interest in the sense of decision making style in ICT sector. Competitions exist to give the opportunity to enter the best competitions to be found in this kind of business in Thailand. A more captivating reason for focusing on creating shareholder wealth is the difference between the values of the company. Moreover, Companies in ICT sector are highly competitive market in Thailand. That the reason why the significant decision making of capital budgeting to invest by critical thinking. Verma et al (2009) observed for achieve the firms a re focusing even more on effective financial management practices and are greatly concerned about core financial issues like capital structure, cost of capital, working capital management and capital budgeting. The objective of capital budgeting In the recent years, managers have become more sophisticated in allocating capital resources and more concerned about return on investment. Sharpiro (2005) shows the important discussion is that the primary objective of financial management is to maximize the shareholder wealth. In other to, we need to know what affects wealth to benefit shareholders. Consequently, one way that people acquire more wealth is to defer invest and consumption in a company. Those who are relatively risk averse become bondholder, lending money to the company and repayment of the loan.In reality, any firm has limited capital resources that should be allocated among the best investment alternatives. The argument that capital is a limited resource is true of any form of capital. Management should carefully decide whether a particular project is economically acceptable. In the case of more than one project management must identify the projects that will contribute most to profits and to the value or wealth of the firm which is the basis of capital budgeting. Stout (2008) expresses the process of evaluating the desirability of investment is referred to a capital budgeting with real options. Furthermore, illustrate how to price a capital investment project containing real options. To explain these concepts to a wide audience in accounting In addition, this research proposal represent evaluate business strategies on the basis of prospective in capital budgeting by opinion managers who controls the capital resources is managerial decision from sample companies in ICT sector, which is good for every one, not just shareholders. It is well for politicians and other commentators to reflect on the facts in issue. Critical review of Literature This research generalized how company make financial decisions that started by explaining what these decisions are and what they are seeking an achievement. The secret of success in financial management of a corporation depends on how well in system of corporate governance to increase value. In other wards, maximizing value is like advising an investor in the stock market. To carry on business, a corporation needs a limitation to describe investment decision. The investment decision also involves purchase of assets that are often referred to as capital budgeting. The most corporations focus on capital budgeting listing the major project approved for investment. Investment proposal come into view from many different parts of the organisation that may have concluded the simple choice of which projects to accept or reject. Hence corporations need processes to ensure that every project is assessed consistently. The future investment outlays in most companies depend on the investment proc edure starts with the preparation of annual capital budgeting that is a list of projects planned for investment decision. The investment decisions let project proposals from companies for review by planning staff who controls the disposition of corporate resources is making financial decision (Brealey et al., 2011). Furthermore, Burns and Walker (2009) represented the capital budgeting process has been described in terms of four stages: Firstly, Identification is idea generation that include how project proposals are initiated. This stage composes of the overall procedure of project including sources origination and reasons for idea creation. Besides, process of origination and submission procedures are interested in an incentive system for rewarding good ideas. Moreover, this stage focuses on time pattern of creation and what level projects are generated that is a formal process for accepting ideas. Stanley and Block (1984) surveyed there has never been an in-depth survey in this stage. The responding companies in capital budgeting proposals originated bottom up over 80 percent versus top down. Secondly, Development also focuses on the details of how the data is estimated that which firms use cash flow versus accounting data. This involves the level of review, the role of project size, organizational structure and the initial screening process which rely upon primarily early screening criteria and cash flow estimation. Pruitt and Gitman (1987) identified the origination of biases in process for a deeper understanding of capital budgeting forecast and cash flow estimation. In addition, they considered financial, marketing, production and economic factors for quantitative forecast. Gordon and Pinches (1984) suggested the role in forecast accuracy and emphasis on the importance of information systems processes that were the key to improvement of capital budgeting. Thirdly, Selection includes personnel involved and the techniques used for the detailed project analysis that results in acceptance or rejection of the experimental project for funding. This stage separate to subsections follows as: 1. Personnel study on determining person who controls the disposition of corporate resources in company is making final decision and analyses capital expenditures. However, this includes amount of people are involved in project. Brealey et al. (2011) suggested the problem of biased forecasts that originated from strategic planners may have a mistaken view of forecast because cannot identify all worthwhile projects. For instance, the managers of project A and B cannot be expected to see the potential economies of closing their projects and merging production at new project C. 2. Reason for selection Techniques includes determining some techniques are preferred. According to Verma et al. (2009) demonstrated Companies invest in long term assets that expected a flow of benefit over the lifetime of the capital asset in project and a certain amount of resources in exchange for the future return that involves risk. Moreover the many capital budgeting methods or techniques are available for these investments or projects evaluation. A comparative study of affecting capital budgeting by evaluate the impact of different factors or variables on the selection of an individual capital budgeting. In addition, this research covers capital budgeting principles and techniques. Shapiro (2005) represented the companies can use to evaluate prospective investments. To accomplish this object by translate the basic principles of capital budgeting into evaluation techniques capable of applying these principles. The several different methods evaluate potential projects that manag ers use to analyse investments. The alternative methods include: Firstly, three discounted cash flow techniques net present value, profitability index and internal rate of return. The techniques are defined as follows: Net present value (NPV) is the present value of the projects future cash flows that discount at appropriate cost of capital and minus the initial net cash outlay in cost of the project. The value placed on a prospective investment project that focus on cash and only cash, account for the time value of money and account for risk. Thus, projects have a positive NPV that should be accepted. On the other hands, a negative NPV should be rejected. Moreover, Comparison in many projects that the one with higher NPV should be accepted. This NPV method focuses on all cash flows and the time value money when takes into account. Profitability index (PI) is defined as a project equals the present value of future cash flows divided by the initial cash investment as known as the benefit cost ratio. The project should be accepted if the ratio exce eds 1.00. NPV and this ratio always yield the same accept-reject decision. Sometimes, PI can provide superior decision in investment. Internal rate return (IRR) is defined as the sets of present value in project of future cash flows equal to the initial investment outlay that is a discount rate. In other words, this ratio equates the project when NPV is zero that determines the maximum interest rate. The rationale in project yielding more than its cost of capital should have a positive NPV and should be accepted. Otherwise, the project should be rejected. Secondly, two non discounted cash flow techniques payback period and accounting rate of return. The techniques are defined as follows: Payback period is defined as length of time necessary to recover it takes before the accumulative cash flow equals the initial investment from net cash flows. The payback rule states that project should be accepted if payback period less than some specified cut-off period or less period than others project. Payback period was a most commonly to use when choosing among alternative projects. Although widely to use this method, it has serious weakness because this method ignores the cash flows beyond the period and the time value of money that is very sensitive in investment decision. Accounting rate of return also called as the average return on book value or the average rate of return. This technique is the ratio that defined average profit after taxation to average book investment this is an average return on investment (ROI). A return in investment yielding grater than in comparison project and standard should be accepted. Whereas the result is below should be rejected. In addition, Verma et al. (2009) represented the comparisons capital budgeting techniques used in practice. A non-discounted cash flow in capital budgeting techniques was increasing in 1960s especially the payback period method. On the other hands, a discounted cash flow in capital budgeting techniques were interesting 1970s especially use of internal rate of return method in. A trend towards incorporation focused on risk that was also indicated by many studied. Furthermore, the most preferred method for evaluation of investment risk that depended on sensitivity conservative and analysis forecasts and the payback period method and followed by internal rate of return method were most popular in 1980s. Authors found that evaluators used multiple evaluation methods that internal rate of return and followed by the net present Value method were the most preferred choice in 1990s. The adjustment of discount rate methods were the most widely accepted discount rate that was the weighted aver age cost of capital (WACC) that Authors found 78 percent. In the 2000s, Peat and Partington (2007) demonstrated the most popular project evaluation techniques were net present value, internal rate of return and payback period that the most of companies observed these techniques. 3. WACC is defined a usually estimated cost of capital that average rate of return demanded by investors include companies use this rate to make project selections. Bruner et al. (1998) represented the research that companies computed the cost of capital by using WACC. 4. Risk Analysis is actually defined in a capital budgeting context. The risk analysis methods focus on recognised, reflected and assessed. Shapiro (2005) represented the real options and project analysis, risk and incorporating risk in a capital budgeting analysis, corporate strategy and the capital budgeting decision. The improvements could be made in obtaining.The important input from management for improving existing risk models. Ken and Cherukuri (1991) represented the case of large U.S. companies that concluded sensitivity analysis was found popular for handling risk that measuring risk is 80 percent. Dhanker (1995) demonstrated companies incorporated risk by adjusting 45 percent used Capital Asset Pricing Model (CAPM). Shao and Shao (1996) found that firms were using risk-adjusted discount rates less often than risk-adjusted cash flows.In addition, Graham and Harveys (2002) surveyed large companies are preferred to use risk-adjusted discount rate while small companies more lik ely used Monte Carlo simulation for risk adjustment. 5. Capital Rationing include the decisions are made by the financial environment. The specific reasons in capital rationing indicate the correct project proposal biases. The reaction capital rationing is not simply to real problem in managers face that main reason was irresolution to issue external financing. Moreover, accepting projects are avoided highly risk averse by using capital rationing to make decision in company that correct for management optimistic forecast biases. In addition, Gitman and Vandenberg (2000) considered the maintain a target price to earning ratio or earning per share among 23 percent of the respondents using of capital rationing and 60 percent was a debt limit imposed by management. Thus, this improvement has been made on the characteristic of capital rationing. 6. Project Approval as defined the autonomy of divisional managers and the role of divisional manager in each of capital investment project and operating accept-reject decisions. Fourthly, Control involves how the evaluation of project performance. This stage considers by comparison the different in expected result and actual results that indicate the performance measurement. Gordon and Myers (1991) expressed the respondents had performed post-audits 76 percent. However, the post-auditing was not effective according to criteria that involved the use of risk adjusted discount rate cash flow methods, the documented policies and procedures. Unfortunately, the post-audit is unpopular decisions in a standard part of the capital budgeting process. Furthermore, Myers, Gordon and Hamer (1991) found companies by using discounted cash flow based audit procedures by using the data form the same study that result increased their performance in companies. In addition, Pruitt and Gitman (1987) reviewed an upward bias that management suspects that focus on the post-audit process. The optimistic forecasts were sometimes depended on psychological factors. The way to eliminate the psychological biases on future capital budgeting proposals that means the post-audit should provide objective information to remove psychological to effective capital budgeting. The important in control stage has resulted in the deeper understanding in both control purposes and continuous improvement for future decisions. The important contributions have been made in the omitted stages of the capital budgeting process. A set of well-defined capital investment opportunities suggested by several authors its impact on all four stages that the decision support system. Opportunities include focusing on a particular stage by using best practices perspective in the area of real options and project analysis to monitor the outcomes. Brealey et al. (2011) demonstrated the final capital budget must also reflect the strategic planning of corporation. Strategic planning attempts to identify business where the corporation has a competitive advantage that takes a top -down view of company. Research aims and objectives of research proposal The objectives of the study are to examine the capital budgeting practices being adopted by companies in Thailand. Specifically this study aims a comparative study of the factors affecting of different firms in capital budgeting in Information Communication Technology sector. The overall research focuses on objective as following: This objective examines the corporate practices regarding the techniques of capital budgeting used for evaluating an investment proposal. To analyse and compare the difference objectives of capital budgeting by using acquired data. This objective evaluates the impact of different variables or factors affecting capital budgeting on the selection of a method of capital budgeting technique. This objective analyses the corporate practices regarding risk techniques of capital budgeting used for adjusting risk in investment proposals. This objective includes the affecting factors in each project and corporate strategy that relate to the capital-budgeting decision. To evaluate processes and techniques of capital budgeting to improve decision-making and the quality of decisions. Research questions and / or hypotheses H0-What are the purposes and objectives of investment capital budgets in each firm? H0- The identification, development, selection and control stage does affect the making decision of capital budgeting to accept the project. H0-The level of capital budget project does affect the selection of investment. H0-What are a capital budgeting principles and techniques make strategic decisions preferred by companies? H0-What is the most popular capital budgeting technique affect to make decision? H0-Does the company use of multiple capital budgeting techniques? H0- what important factors of decision making are the consideration non financial factors for deciding capital budgeting investment by selected companies? H0- what are risk factors to use in Adjustments? Research Design Methodology for the research This section is essentially about justifying the terms of methodology. It addresses the particular appropriate data collection and analysis. By 150 the questionnaires have distributed go to still ICTs companies in Thailand. The Social Science Version 16 (SPSS software) was advantage from this questionnaire. Thus, imply incidence and percentage are the importance in the lead presents the conclusion spits the questionnaire, way statistics explanation is the importance of using analysis the data. Data Collection Data collected in standardised format from lot of observations based on specific variables and identify patterns between variables. Hence, Data will be collected via structured by questionnaire (see in appendix) a personnel in companies in information communication technology sector in Thailand. The population of interest is planning staffs that involve the project within different department in each company. According to the mention above objective a comprehensive primary survey is conducted of 30 planning staffs who controls the disposition of corporate resources is managerial decision involved of projects companies. The planned sample is 10 projects from different projects in company the amount of staff are surveyed depend on the level of project. Data Analysis Wrenn et al. (2007) represented the SPSS is used the way random simplify by applicability. This technique use to test general in the population that known information of being selected as part of the sample. This research has applied the explanation will of the statistics that Zikmund (2000) demonstrated the explanation and summarize about the people by average calculation that the mean and percent values are majority form in summary data. The acquired data will be analysed by using qualitative methods and data will be compared the actual factors in capital budgeting. The limitation of method used According to Saunders et al. (2007) demonstrated the way of questionnaire process depends on the technique of limitation use in the research that is taking time to collects the data. Moreover, they may take time in making completed profoundly might cause something delay in during procedure. The convenience of limitation is easy to filtration that personal researcher are appropriate more than the filtration from the people. Conclusion Nowadays, the Thailand business environment has become highly sensitive competition in Information Communication Technology sector. The capital budgeting decision necessary for a number of changes have taken place in the business and economic environment in domestic market. For achieving this, the keyword to success in financial management depends on only the professionally and competitive managed companies. The companies are focusing even more on effective financial management practices and company can thrive in such an unstable environment. In addition, the companies are greatly concerned about core financial issues. That the reasons why focus on the affecting factors for making decision in capital budgeting that companies should be improved financial management. Reference Brealey, R.A., Mayers, S.C. and Allen, F. (2011) Principles of Corporate Finance Global Edition. 10th Edition. New York: McGraw-Hill Irwin. Bruner, R.F., Eades, K.M., Harris, R.S. and Higgins, R.C. (1998) Best Practices in Estimating the Cost of Capital: Survey and Synthesis, Financial Practice and Educational. Vol. 8, No. 1, pp. 13-28. Burns, R.M. and Walker, J. (2009) Capital Budgeting Surveys: The Future is now. Journal of Applied Finance. No.1 2, pp. 78-90. Dhanker, Raj S. (1995) An Appraisal of Capital Budgeting Decision Mechanism in Indian Corporates, Management Review. (July-December), pp. 22-34. Garbutt, D. (1992) Making Budgets work. 1st edition, London: Chartered Institute of Management Accountant. Gordon, L.A. and Pinches, G.E. (1984) Improving Capital Budgeting: A Decision Support System Approach. 1st Edition. Massachusetts: Addison-Wesley Publishing Company. Graham, J.R. and Harvey, C. R. (2002) How Do CFOs Make Capital Budgeting and Capital Structure Decisions? The Journal of Applied Corporate Finance. Vol. 15, No. 1, pp. 8-23. Ken, L.R. and Cherukuri, U.R. (1991) Current Practices in Capital Budgeting: Cost of Capital and Risk Adjustment, ASCI Journal of Management, Vol. 21, No.1, pp. 26-44. Myers, M.D, Gordon, L.A. and Hamer, M.M. (1991) Post-Auditing Capital Assets and Firm Performance: An Empirical Investigation, Managerial and Decision Economics. Vol. 12, No. 4, pp. 317-327. Pruitt, S.W. and Gitman, L.J. (1987) Capital Budgeting Forecast Biases: Evidence from the Fortune 500, Financial Management. Vol. 16, No. 1, pp. 46-51. Saunders, M., Lewis, P. Thornhill, A. (2007), Research methods for business students. 4thedition, Essex: Pearson Education Limited. Shao, L.R and Shao, A.T. (1996) Risk Analysis and Capital Budgeting Techniques of US Multinational Enterprises, Managerial Finance. Vol. 22, No. 1, pp. 41-57. Shapiro, A.C. (2005) Capital Budgeting and Investment Analysis. 1st edition, New Jersey: Pearson Prentice Hall. Stanley, M.T. and S.B. Block (1984), A Survey of Multinational Capital Budgeting, The Financial Review. Vol. 19, No.1, pp. 36-54. Stout, D.E., Alice, Y. And Qi, H. (2008) Improving Capital Budgeting Decision with Real Options Management Accounting Quarterly Vol.9, No. 4, p. 1-10. Troung, G., Peat,M. and Partington, G. (2007) Cost of Capital Estimation and Capital Budgeting Practice in Australia Australian Journal of Management, Vol. 33, No. 1, pp. 95-122. Verma, S., Gupta, S. and Batra, R. (2009) A Survey of Capital Budgeting Practices in Corporate India The Journal of Business Perspective Vol. 13, No. 3, pp. 1-17. Zikmund, W.G. (2000), Business Research Methods 6th Edition, Fort Worth: The Dryden Press.

Location of Selves and Reorganization of Reality :: Identity Reality Self Essays

Location of Selves and Reorganization of Reality We perceive limits in our culture of information—our postmodern world. Limits in defining a simple, modernist self are the same limits that govern the ownership of land and of ideas (hence, the copyright). Defining a person in strict terms of a single identity allows self the capacity for ownership. People feel that they have a handle over things if they know themselves in terms of a concise identity. Even more, people can be assured that they are normal or, further, powerful and significant, if they have certain â€Å"desirable† traits that make up their true selves. This sense of self causes the identity crisis, insecurities, and self-hate just as much if not more so than it gives people an assurance of knowing who â€Å"they† are. The cyborg enacts the anticipated demolition of such reducing mirages. Cyborgs defy traditional classification, thus controllability. This threatens those in power, and it threatens those that enjoy the limits once in place. While this idea must seem to crush the strength of groups that have been defined by a unifying trait such as â€Å"male†, it really allows for far more possible groups to unify—groups that may have experienced turmoil and were unable to be classified by one word, like â€Å"woman†. Simple classifications that have discounted other portions of one’s unique experience will no longer limit or detract from one’s multiple selfhood. Then, cyborgs/selves can explore the self of choice to maximize their experience in accordance with their environment. Finally, the quests for self as authentic will no longer persist. The authenticity of human interaction could just be a falsity. Behaviors are, after all, only as genuine or definitive as you imagine them to be. One can shape their experiences, or at least their perceptions of them, uniquely. [See Chapter 5, Speaking into the Air] Thus, the need for human contact could be viewed as another myth. People can fall in love over the Internet. The orgasm that one has in a simulated situation, like phone sex or cyber sex, is just as â€Å"real† as the one he/she would have had if the big fat hairy woman on the other end of the wire (and the orgasm) really was the skinny sexy blond thought to be communicating.

Objectification of Women Through Advertisements Essay

The images of advertisements reflect the social and cultural aspects of a society. These images define the values and establish attitudes of the people in a society towards the imagery projected in the advertisements. One of the highly used imagery in the advertisement across almost all the cultures is that of women. By using this imagery in the advertisements, one of the critical attitudes established among the audience is that of women are objects. There are advertisements where women are used as a subjective image but mostly women are displayed as a commodity or an object. Objectification relates to the imagery of an entity which is a person but is seen or displayed as an object. Women have been used as objects to be desired by advertisers for years now to increase the sales of the products and this strategy has worked wonders for producers; for example magazines like Playboy and Hustler would not sell at all if it is not for the sexual display of women. It is argued that since the women who take part in such advertisements give their consent towards the kind of image the advertisements project. However, objectification of women is not just the concern of the models involved in the advertisement but the whole population that views that advertisement because it affects the value system and culture of the masses. For example, the Excessive use of blonde women in the advertisements during 70s and 80s projected to the masses that blonde women are more attractive and desirable to men. However, when surveyed, 70% of women thought that blonde women are more desirable to men and only 35% men actually expressed their preference for blonde women. This way advertisement has used women as objects to establish false beliefs of beauty, independence, and power. Sigmund Freud, one of the greatest psychiatrists, also developed a theory which could be well related to the objectification of women in advertisements as a source of desire. His theory of the â€Å"unconscious mind† states that it constitutes of the largest part of a person’s mind and contains desires and memories which are not readily available to the conscious mind of a person. However, there exist different stimuli which may, if exposed to a person, bring these unconscious desires and memories to the conscious mind. Therefore it could be argued that since â€Å"sex† is seen as the most basic element of our social needs, it is often suppressed in our unconscious mind and the objectification of women in advertisements bring these desires to our conscious mind. In the light of the theory of â€Å"unconscious mind†, it could be proposed that the exposure of women in most of the advertisements today only acts as a stimulus to invoke the hidden desires of the audience till it becomes a need. And once it becomes a need people look for ways to satisfy this physical need disregarding the subjective elements involved in the process. The idea of women empowerment had taken a great flight since post WWII with the help of the media. When most men were fighting during the WWII, women had to take up the roles of men back at home. After the war ended and the men returned, women had to go back and adapt to their roles as housewives and mothers. This was the time when the media hit them and promoted the message of women empowerment with the use of women in their advertisements. The magazines communicated to the women that they had the potential and capability to build careers, acquire achievements and shift their role from that of housekeepers. From that time onwards, media has played a massive role in promoting the concept of power and empowerment for women by displaying women more often in their advertisements and with slogans like â€Å"Just do it†, â€Å"the idea of willpower†, and â€Å"take control†. The use of women in advertisements has not only made women powerful in the eyes of the male population but also given a boast to the self esteem of women and has made them more authoritative than ever before. More so, the use of women’s body in advertisements and movies has established the perception in the minds of the population that women may use their bodies to get things done and achieve success. Through advertisements using women, the society has also created a wrong perception that beauty is a prerequisite to the independence and success of women and also that it is through the beauty and consumption of certain products that women can excel in their careers and lives. The highly explicit use of women in the advertisements has also led to rivalry between different brands of a product. The rivals try to get the most popular celebrities and models for their advertisement and expose them more than their rival to gain more attraction from the target market and therefore increase the sales. It is seen these days that many companies hire brand ambassadors for the sole purpose of attracting the market and make people associate the product with the sexual desire created by the presence of the brand ambassadors; no doubt it increases the consumption. For example, the famous perfume Chanel has hired various top celebrities as there spokes-model like Nicole Kidman and Keira Knightley. In fact the perfume was initially brought to fame by Marilyn Monroe in the 1950s. The display of zero-size models with slender frames and nicely tuned body parts has led to an increased dissatisfaction of â€Å"body image† among the women. The dissatisfaction is measured by difference between a person’s â€Å"body image†, which is a person’s perception of his/her body, and the ideal body type displayed in the form of models in advertisements. Although, this dissatisfaction has always existed amongst the women, it has grown rapidly since last 25 years. This is because the media has increased its standard of what is a â€Å"normal† body size. For most of the women this ideal body size portrayed by the media is the gateway to happiness. It is through these advertisements in the media that women have established in their minds that they need to achieve that ideal body size, shape and weight in order to find a good spouse, a great career, and be acceptable to family, friends and public. The models with perfectly shaped bodies are depicted as glamorous, rich and powerful in the advertisements and therefore a perfect body is seen as the passport to happiness. However, women do not know that only 5 % of all the women have the potential and body-type to achieve the ideals displayed by the models in the advertisements. Conclusion Today, the objectification of women has reached great heights; almost every other advertisement is using this concept to promote a product. What needs to be realized is this behavior has not only degraded the status of women but has also hurt the moral values of the global society. It has also given false hopes to millions of people and has distorted the image or reality for many. And the consequences are also very apparent in the form of the kind of treatment women get from men and the number of women suffering from anorexia for example. All the aspects discussed on the objectification of women call for strong system which could align the activities of the advertisers to more ethically sound principles. References: 1. Onyejekwe, C. J. (2005). Advertising and Exploitation of Female Sexuality. Retrieved from http://www. quietmountainessays. org/Onyejekwe. html 2. Body Image. (2009). Body Image. Retrieved from http://www. snac. ucla. edu/pages/Body_Image/Body_Image. htm 3. Media Advertising. (2010). Women in the Media. Retrieved from http://www. 123helpme. com/view. asp? id=18401 4. Lukes, S. A. (n. d). The Gender Ads Project. Retrieved from http://www. ltcconline. net/lukas/gender/pages/power. htm 5. Gladen, N. R. (2008). Media Objectification of Women. Retrieved from http://medialiteracy. suite101. com/article. cfm/media_objectification_of_women 6. Boeree,C. G. (2009). Personality Theories. Retrieved From http://webspace. ship. edu/cgboer/freud. html