Aristotle’s Ideas in the Modern Work Environment

Aristotle in the Modern Work Environment In Aristotle's Nicomachean Ethics, every point, every major idea, and every argument made, is all connected back to the concept that every action seeks an ultimate good. Aristotle felt that there is an intrinsic good that humans aim for and that there is this â€Å"good life† we all mean to have. However, what does it mean to be good? That means something different to everyone; we all inhabit many different roles in our day to day lives, whether we strive to be a good parent, a good sibling, a good student, a good citizen, or a good leader.All emphasize the importance of our own well-being, as well as that of others, and the greater community as a whole. For the purpose of this paper, the focus will be on work relationships, what it means to promote a good work environment, and how Aristotle's ideas relate to the modern work community. First, we will examine the characteristics of a great place to work, and then we will examine how each of Aristotle's main ideas on civic relationships relate to these modern work relationships.Whether the association is that of an employee and an employer, a buyer and a seller, or even a manager and an investor, each relationship has common business ideas and common human needs. Sometimes companies get so caught up in the business ideas that the human needs become null. However, the most successful companies are the ones who are able to excel at both the business practices as well the care of their employees. So what defines a â€Å"great† place to work?Is it the business with the most elaborate holiday parties, the one with the highest paid employees, or perhaps is it the business that places value in the intangibles, such as trust, communication, and strong leadership? To define the traits of a positive work environment, we will examine the Great Place to Work website, who every year, partners with 5,000 plus companies and conducts a survey to find out exactly what a great workplace means. Essentially, a great work environment can be defined by three main factors; employees trust the people they work for, they have pride in what they do, and they enjoy the people they work with.Of these three, it is the mutual trust that employees and employers have in one another that sets the foundation for a successful company. An employer can build trust with their workers by having credibility for the work output and treating them with respect and fairness. This in turn, creates a loyal employee who is dedicated to producing their highest quality of work as well as motivating others to do the same. Whether the business is a small ma-pop store, or a Fortune 500 corporation, all have the ability to achieve a cohesive work environment.The best of both an employee and an employer can be explained by Aristotle's views on happiness, the virtues and deliberation, justice, and friendship. All are interconnected, and when applied to a professional setting, help to promot e an work environment that is beneficial for the company, but more importantly, the human good. Aristotle's most important concept is that of human happiness because happiness in and of itself was reaching the end good. According to him, humans have three parts to their soul.The first is the most basic, a vegetative state in which all living things share in which we are satisfying our most basic of needs. The next level is that reason that is grounded in emotion. The two are grounded in each other, and therefore, can be swayed by each other, such in that our emotions can influence our reason. Aristotle believed that true happiness was engaging the highest activity of the soul, our capacity for thought. He believed that happiness was â€Å"the human good [that proves to be] the activity of the soul in accord with virtue. In other words, a person living life to the fullest was the person pursuing their purpose in life with action, and reaching a certain amount of excellence in that p urpose. In turn, that will bring a true state of happiness. The best way to bring about this state of individual happiness is through community. In terms of a business community, it is the responsibility of the leaders to promote an environment that focuses on establishing a worker's strength, discovering his or her potential, and then developing that potential in order to fulfill that person's purpose.In the business world, we see people all the time who feel their work is not fulfilling and lacking in purpose. These are also the kinds of people we see that show up to work and complete the bare minimum necessary for obtaining their paycheck. An employer who wants to have a successful company needs to promote the kind of work that is in their employees' best interests and allows them to feel useful each and every day. A happy employee will be more invested in the business's day to day operations, as well as the overall success of the organization.The discussion of happiness leads to Aristotle's next major ideas, those of the virtues and deliberation. A happy person will be someone who lives in accordance with the virtues. He is neither too much of one thing, or not enough of another, he is in the middle of two extremes. Aristotle explained the virtues to be a perception of the right thing to do or the appropriate response when faced with a certain situations. The good decision lies in the virtue that is between what Aristotle called the â€Å"vices of excess† and the â€Å"vices of deficiency. For example, cowardliness would be a vice of deficiency, foolhardiness would be a vice of excess, and courage in the middle of these two would be the right decision. Aristotle's virtues can be broken down in two ways: intellectually and morally. Intellectual virtue comes from education, which must be taught over a length of time. Moral virtue, on the other hand, comes from habit. They are virtues that need to be learned, and that is accomplished by actually pract icing it. People become virtuous by performing virtuous acts, and the more they are practiced, the more the virtue becomes a part of one's disposition.Although moral virtues are reactions due to habit or practice to respond in certain ways, Aristotle believed virtues are cultivated through deliberation. One must think about the situation he or she is in, and contemplate as to what good could be achieved in that situation. In deliberation, one must consider the â€Å"ends† he or she is trying to ultimately reach, and make a decision about the best way to go about achieving that end result. Virtues and the deliberative process are involved everyday in the business world.A person's virtues guide his decisions, and decisions have to be made on a daily basis when it comes to a business's operations, finances, resources, customers, or even future goals. A company therefore needs their leader to be virtuous in order to make the kinds of decisions that will be in everyone's best inte rest. A leader that is virtuous will desire to be good and do good, therefore he will make decisions that are fair. This engages one of the fundamental traits of a Great Place to Work, and that is the leader promotes an connection based on trust between himself and his employees.When employees believe their boss is contemplating the best course of action when faced with a certain situation, they can trust him to make a sound and virtuous judgment. The trust that is built here translates into respect for their superiors, and when employees respect the people they work for, the entire organization is given the opportunity to run smoothly and cohesively. Another of Aristotle's virtues that he specifically singles out is justice. It includes all other virtues under its umbrella, because to be just is to consider all the other virtues and act in a virtuous way.In this case, he is not describing the kind of justice to exact on a criminal, but rather justice in that a person gets what he d eserves. Justice must maintain a certain balance in which advantages and disadvantages are equal. In Aristotle's opinion, greed or the desire to have more than one’s due counteracts his idea of distributive justice. In this concept, wealth among the community would be spread out among its members, with everyone receiving their fair share according to their virtue. He believed the economy was not driven by a â€Å"guiding hand† but by reciprocity.A successful economy distributes goods not to satisfy an individual's best interest, but to facilitate exchanges within the community, with the ultimate goal being people living the life they want in accordance with their virtues. The most virtuous people make the most significant contributions to the community, and therefore are of the highest merit. His concept of distributive justice enables the greatest privilege to go to those with the most virtue, and not those with the most money, the most power, or the most inside conne ctions.The best places to work are the ones that are most just. They exhibit all the virtues in the best sense, but most of all, the people within the company benefit from an environment of fairness, for both the employees and the employers. In order to maintain the balance of justice, not one employee is treated with an unfair share of disadvantages and therefore carries too much of a burden. On the other hand, not one employee enjoys an unfair share of advantages and therefore is overly privileged.Everyone is cooperating together and this kind of justice only facilitates the inner workings of a business in a way that contributes to the overall success of the company. It also promotes a fair merit-based system that rewards promotions and other benefits fairly. If employees know that privileges will be handed down based on highest merit, and not unfairly based on seniority, or inside connections, they will be motivated to work hard and produce their best work, which in the end, only builds a more successful business.The last of Aristotle's main ideas we will discuss is friendship, and how in a certain way it connects all of Aristotle's main ideas together. Very simply put, friendship can be defined as wishing each other well and there being a mutual awareness of good will between two individuals. Aristotle then classifies three types of friendships: those based in utility, those based in pleasure, and those based in character. A friendship based in utility, occurs when two people can benefit from each other. By doing the same thing, both gain an equal advantage in the relationship.This kind of friendship is a temporary situation because it is based in two individuals being useful to each other, rather than any enjoyment they have it the person. If the usefulness ends, the purpose of the relationship disappears, and therefore so does the relationship itself. A friendship for pleasure happens when two people enjoy the other's company and have a common interest i n doing a certain activity together. In this case, doing the activity in the company of another makes the activity more enjoyable than if it had be done alone.This kind of friendship is also temporary because the relationship lasts only as long as the two individuals share the common interest. The strongest and most enduring of friendships are also the rarest kind, and those are friendships based in character. This relationship occurs when two people admire the quality of the other person and find common ground in their virtues. They develop a long-lasting friendship that develops over time as they get to know one another. It is a very selfless kind of relationship as there are no motivating factors these individuals seek in one another.They accept each other for who they are and encourage each other to find the â€Å"goodness† in what they pursue. Friendships of character connect the ideas of virtue, justice, and happiness together. The basis of a good friend is that the fri end is good in and of himself. He realizes his best self in accordance with the virtues, and will encourage a friend of similar virtue to seek his best self. He who acts in accordance with all the virtues is just, and justice in its fullest sense is friendliness. Both justice and friendliness inhabit the idea of distributive justice.Not in an economical sense, but friends of utility, pleasure, or goodness equally exchange advantages consistent with the type of friendship they share. If there is an unequal distribution of disadvantages in friendships of utility or pleasure, then the relationship will disintegrate. Therefore, among true friends that is based on character, there is no need for justice. Those who actively engage in friendships are also the happiest. Humans are not meant to live in solitude, and it is by engaging those around them and participating in the community that one will find the good in others, the good in the community, and the good in life.Friendship in the wo rkplace bolsters the idea of camaraderie among employees and employers. When people enjoy the other people they work with, they're surrounded by a positive environment that enables them to work at their highest potential. this doesn't mean that people's work environments have to be filled with their best friends, but instead should feel a friendliness towards their peers out of a sharing their professional lives together and a common interest to meet their business goals.The most likely of friendships to be found in a work environment are friendships of utility or pleasure. Every person within an organization may have separate goals, but all share the same goal of seeing the company do well. The success of the business will benefit everyone as long as they work together. It's also likely that people within the same line of business will share some of the same interests. This commonality between workers can be the foundation for them to work together effectively and support each othe r in their work.The rarest kind of work friendship would be that based in character. It is likely that you may share some of the same professional values, but people are so different that it's rare to come together on a work platform and build a lasting relationship. However, hopefully people within the business can at least appreciate the quality of their peers and superiors, even if they don't fully admire them. The best kinds of work environments are the one that exhibit all Aristotle's main ideas, such as happiness, virtue, deliberation, justice, and friendship, to their fullest.Environments that remain open to dialogue and respect, that recognize differences among people as a unifying force rather than a dividing one and utilize people's strengths to their greatest potential are the kind of work environments that Aristotle would promote. While it may be hard for a business to maintain the best environment all the time, as long as it stays true to its ethical business principles , and as long as its leaders strive to meet the human needs of its employees and well as the goals of the company, then I would consider that a great place to work.

Negotiating at the table

There are many models that describe a three step method discussion, proposals, conclusion despite which school of thought one prescribes to, the process of preparation, discussion, proposal bargaining, and conclusion apply. Part I Background and Settings The situation described in the following is very much like the last one, where we discussed the purchase of a vehicle. However, in this example the professional car salesman lost customers sue to his lack of following a process to ensure that there was a win-win meet in the end. My wife and I were going to purchase our flirt new vehicle together.We had purchased a used car In the past however the customer/dealer relationship was completely different than the one we encountered. Part II How was it Negotiated Being a first time car buyer carries with it tremendous pressure since you are going tee-a- tee with a person who sells vehicles and negotiates for a living. Being a young couple, we had done some homework on the car we wanted to purchase color, make, and model. We did some shopping around visiting several local dealers to see the price range for the vehicle we wished to purchase (this was before you could Google everything).Therefore, we had prepared ourselves to enter negotiations with the dealer that we felt comfortable in dealing with. On our negotiation team were myself, my wife, and my father (l said we were young). On the team for the dealership was Tony a veteran car salesman and a fairly new salesman, AY, who one could tell was starting a second career. We arrived at the dealership with our research done and our interests and options that we desired for our new car. We also, came with some determination and the attitude that we were going to leave with what we anted and In the range that we desired.After arriving at the dealership, we quickly found the Explorer with the options positions. AY entered the picture and we did the obligatory test drive. Upon returning, the negotiation process began. The first phase introduced by Sahara (2011) is the discussion during this phase, the exchange of ideas, information, offers and counter-offers should be communicated between the two parties. He also goes onto say that the pieces of the discussion that construct a positive and constructive discussion can be undone by negative or imaging behaviors or comments.This second part is the attitude that was brought on by Tony. To begin with, he pushed AY off to the side and began trying to sell the car to my father. His response was, you are selling to the wrong guy, as he pointed to my wife and l. As he continued to sell us his line he continually asked my wife if this or that was her hot button. This was due to the fact that when he began to discuss the price of the car vice the value of our trade-in, my wife became visually We found AY, told him that we would have much rather have dealt with him, but with Tony on the scene the hard work that he had done was quickly undone.PROPOSALS The bargai ning phase proposal involves narrowing the gap between the two initial positions and persuading the other person that your case is so strong that they must accept less than they had planned. (Toolbox, n. D. ) In our situation we never had the opportunity to enter the proposal phase with our salesman. However, about twenty minutes after our departure, our salesman AY called us and asked us to explain the events that drove us away once again so that he could convey them to his director of ales and hoped that he would see the error of the situation and try to bring us back.As AY had hoped the director called us and apologized for the way in which Tony had conducted himself and asked if we were willing to come back and give them another try. This is the point in which we entered our first proposal we come back but the point that we enter at before any rebates and our trade-in was the price they said was their sale price. With some hesitation, he accepted our first proposal and we return ed to the dealership. The mistake of poor attitudes and misspoken words cost he dealership one of their big trading cards.CLOSING THE DEAL This phase formally seals and binds the parties into the outcomes of the agreement. (Karri, 2013) After returning to the dealership, we were met by AY and the general manager. The proposal of the price that we discussed on the phone was represented and we continued form that point. There were some finer details that were worked through form this point however as Sahara (2011) this is permissible when working through the finer details. They offered us an agreeable amount for our trade and with a people of extra to sweeten the deal we were able to come to a final price.The entire process when we returned took less than 30 minutes, though in that time we were able to make final proposals and come to a conclusion on price to seal the deal. CONCLUSION Negotiating through the phases that were introduced can be done in a short period of time or can be l ong and drawn our. Both sides may go back and forth between the phases. (Sahara, 2011) However, with open communication, the avoidance of angering or belittling your opponent and understanding a conclusion an be reached that is amicable to both parties.

Nurse ethics Essay

Ethics has become part of the nurses’ life when it comes to decision making and taking actions in the face of adversity or opportunity. Husted and Husted (2008, p.9) states that the patients has lost their power to take actions on their medical conditions due to the lack of knowledge in the health care settings. Hence, the healthcare providers are there to impart their skills and knowledge to treat the patient with the best care. This assignment would discuss how the medical decisions for A B who has undergone radical mastectomy are made using the model for ethical decision-making. A B’s husband suspects that there might be a spread of the tumors and informed the nurse in the out patient clinic not to mention to her if she had a spread of the tumor. A has the right to refuse to speak to the counselor and not to know in depth of her disease process. The ethical dilemma is in this case study is, whether the nurse should refrain herself from reveBng A’s progress on her condition. The second ethical dilemma is should A continue to restrain herself from speaking to her counselor. Yarbro, Frogge and Goodman (2005) states that the prognoses of patients with non invasive tumors will benefit from the mastectomy, however for patients who have invasive tumors are at probability for relapse. After the mastectomy operation the patients are at risk of wound infection, flap necrosis and seroma formation. Yabro et al. (2005) also mentioned that although breast cancer in young women is a rare condition, the disease is more aggressive biologically and has unfavorable prognosis as compared to older women. In most of the conditions, radiation therapy or chemotherapy is given to reduce the chances of relapses and to increase the chance of survival. This shows that there is high chance for A to have a relapse and that she is also highly at risk for depression due to her medial condition, and the altered body image. Mastectomy causes emotional distress and that is advisable to seek a counselor or a social worker to express the feelings which aids in recovery (Mills, 2006, p.561). In a research done on emotions of patients after mastectomy found that patients who have undergone mastectomy experienced is similar feelings to those of bereavement. Anxiety, denial and tension leading to stress are commonly found after post operation of mastectomy patients .The research further elaborates that the role of the patient in social, sexual and interpersonal is altered thus affecting the individual physically and mentally (Farooqi, 2005, p.270). Having so many mental and physical conflicts, A should seek help from the counselors and allow herself to express her thoughts so that she is able to cope with the situation. By doing so, she will be able to see things positively and have the courage to move on. Keeping in mind that she has two children, A will also need to make the necessary arrangements for the children in terms of financial, social and physical needs. National University Hospital (n.d) states that patients have the right to know information about their treatment and care plan and to participate in decision-making about their treatment care and their discharge. A has the right to know her treatment plan. She will not be able to see the broader picture of her condition and will remain in depression thinking that it is the end of the world if she remains unaware. When help is provided, she will be highly motivated to move on. Respect for autonomy is the fundamental rule of clinical ethics. It is defined as an individual right to make a decision without having interferences by others and personal limitations. Healthcare providers should educate and guide the patients so that they can understand the medical condition and will be able to make decisions. Patients have the right to seek consent for their medical treatment and to disclose information about their medical condition to them (Pantilat, 2008). Therefore, the nurse should inform A regarding the spread of the cancer, if there is, so that she will be able to make a rightful decision on her treatment. This is supported by AustrBan Nursing and Midwifery Council (AMNC) (2006), Code of Professional Conduct, Conduct Statement 7; nurses are required to inform the patient of the nature and purpose of recommended nursing care to assist the patient to make informed decisions. However, the husband had mentioned not to inform A about the spread to prevent their marriage from getting worst. By listening to the husband’s point of views, there are chances of saving their marriage and it benefits A and her family. Beneficence Beneficence is explained has an action done to promote good for others. An obligatory act to assist patients based on their importance and legitimate interests (Beauchamp & Childress, as cited in Parker & Dickenson, 2010, p.195). In the case study, it is said that A is very stressful and that she does not want to talk about her disease to the counselors. If the nurse listens to the husbands instruction, A’s stress level will not be added on and thus doing good for her. On the other hand, if A is not told about the disease and how much the counselors wanted to help her. The more she will pull herself back and may decide not to have any further treatment. These will deteriorate her condition. SNB Code of Ethics and Professional Conduct Value Statement 7 states that clients’ best interests must be taken care of (SNB, 2006 p. 8). Non-maleficence is a principal that requires not inflicting harm to the patients. Before being ethically reasonable in trying to help the genuine interest, the nurse must be very certain of doing no harm. Aiken (2004), non-maleficence demands that health care providers defend from harm to those who cannot protect themselves. SNB Code of Ethics and Professional Conduct Value Statement 5.1 and AustrBan Nursing & Midwifery Council (ANMC) Code of Ethics for Nurses in AustrBa Value Statement 1 both supports that nurses should safeguard the health and safety of their clients against incompetent, unethical or illegal practices. In A’s case, there is no evident that she is in a state of unsound mind or there that she wants her husband to decide for her. Therefore A should be informed of a disease process and allow herself to speak to the counselors. If A is not told the truth, the nurse is indirectly inflicting harm for the patient as she owes a duty of care. Yeo, Moorhouse, Khan and Rodney (2010, p.293) mentioned that justice is the wider sense of fairness, whereby everyone should be treated fairly and equally based on the individual or groups entitlements. Every patient would want know how much their condition has improved or deteriorated. In A case, she deserves to be treated and to know her prognosis as this allows her to have time to make arrangements in her social life. She may not want to talk about her disease to the counselor but there might be someone whom she feels comfortable in opening up. As her care providers, the team of healthcare professionals should find out the details and provide her with the best care possible. There is no evidence that A is in a state of unsound mind and that she has given her rights to her husband to make decisions on behalf of her. Therefore it is Madam Aminiah’s right to know her condition and to discuss her treatment plan. Although by breaking the news A would be distressed but it is the responsibility of the practitioners to give her an opportunity to participate in the decision making even if it has to involve a third party with A’s approval. After making discussions with A, she decides that her husband will be the only decision maker, he will be the surrogate decision maker (University of Illinois at Chicago College of Medicine, n.d) and we should respect her decision. Butts and Rich (2013) mentioned that a better ethical approach to patient care is by providing truthful information at the same time keeping the patient composed and educating her successful ways to manage her condition. Although by not telling A the truth may save her marriage life and benefit her family. The rights of the patients should not be violated. When patient right are being violated, the nurse is at risk of causing harm. SNB Code of Ethics and Professional Conduct Value Statement 2 emphasize the mandate of respect and support clients’ autonomy. Value Statement 7 requires nurses to defend those clients who may be vulnerable and incapable of protecting their own interests and to be an advocate in the best interest of their clients. Everyone is considered innocent until proven guilty. The approved investigators must collect enough evidences to visibly convince Nursing commission members that a violation had occurred. Under the Patients’ Right (Scotland) Act 2011, section 3, states that patient has the right to know about their condition and to make decision relating to the patient’s health and well being. As nurses, we should not refrain ourselves from telling the patient the truth unless stated. This is vastly supported by SNB Code of Ethics and Professional Conduct, value statement 2 Respect and promotes client’s autonomy. Therefore the nurse could be liable for professional misconduct under the Nurses and Midwives Act 2012, Chapter 209. Although A is in a stressful situation, there is no evident that her stress is allowing her to loose her rights in making decision for her disease. A is still in a state of sound mind and therefore her rights should not be violated unless she has agreed for her husband to decide for her or she showed signs and symptoms of unsound mind. This case is indeed an ethical challenge faced by the health care professionals. The author’s decision is to inform the patient on her current condition. If A is to have a spread, it’s her right to know so that she could make the right decision. This decision is supported by AustrBan Nursing and Midwifery Council, (AMNC, 2008) conduct statement 7; Nurses support the health, wellbeing and informed decision making of people requiring or receiving care. However, the physician will be the best person to break the news. Sullivan (2011) mentioned that health information is compulsory for the patient and it is the ethical and legal obligation of the physician to communicate that information so that patients can make decisions. The patient has the right to a diagnosis and, if consented to, the physician has a duty to treat. Therefore the author will update the team doctors. When A had decided to allow her husband to be her decision maker, than her rights will be respected. In A’s case, a family conference would help to resolve not only her medical issue but also her social issue. The team doctors will have to document the decision in the treatment and progress notes Medical records are legal documentations that are extremely essential and serve as a means of communication in the health care industry. When there is systemic documentation of patient’s medical history and the treatment provided are recorded, it may benefit when used as an evident in the court (Judson & Harrison, 2013, p. 196). ANMC National Competency Standards for Registered Nurse, statement 6.3 and 8 both highlight that documentation of care plan must bring about towards achieving expected outcome based on continuity of assessment and to be transparent (ANMC, 2006, p. 5 & 6). A’s decision should be clearly documented on the progress notes highlighting the issues of her decision maker and the treatment recommended to her. Situations that offer ethical dilemmas are common in the healthcare industry. In such situations, it is critical to consider not only the standard regulations, but also the professional code of ethics within the profession. To avoid any legal implication, the medial and nursing team should be mindful of their care provided without violating patient’s interest.

Letter from the Birmingham Jail Essay Example | Topics and Well Written Essays - 250 words

Letter from the Birmingham Jail - Essay Example "Letter from Birmingham Jail" takes a very important place in the history of the movement for human rights and is perfect expression of reasoning for non-violent resistance. The author of this letter, Martin Luther King, believed that once injustice occurs, it becomes a threat to justice everywhere."This letter this famous preacher wrote in response to the appeal, in which the clergy characterized the activities of black activists as "unreasonable" and the late, criticized activists for organizing demonstrations, spoke approvingly about the city authorities and the police. King’s letter is a direct response to criticism of his ideas by church representatives, but in fact, he refers to everyone who does not approve racism, but considers methods of nonviolent struggle to be too radical.His letter is full of arguments of a true Christian;he uses many Old and New Testament associations and images, quotations, references to Christ's example. King's main claim is that the main obsta cle on the way of human being to freedom is not politicians, but citizens themselves, as often they are more devoted to "order" than to justice and believe in the myth about time and constantly advise to those who are oppressed to wait for a better moment.

Robot Lab Report Essay Example | Topics and Well Written Essays - 1500 words

Robot Lab Report - Essay Example To define more precisely, Robot is â€Å"a device that automatically performs complicated often repetitive tasks† (merriam-webster). The task is instructed to the robot in the form of programs using any programming language. Robot can either be guided using a remote control or can be made completely automatic by pre-defining the directions in the program thereby replacing the complete human interventions. One such application of automated robots would be in industries where these robots handle tasks like cutting, welding, packing and moving to the correct destinations and so on, thereby increasing productivity, safety and profitability. Though the initial cost of purchasing a robot is comparatively higher, the advantages they offer simply overwhelms them. As a part of our Robot study course, we have designed and programmed one such automated robot using Lego NXT, a programmable robotics kit from Lego. Lego NXT comes with a brick shaped device called NXT Intelligent Brick which forms the brain of the robot. This device can be thought of an intelligent micro computer that can be programmable with many compatible programming languages. It can operate with up to four sensors and up to three motors. It also comes with an in-built LCD display and necessary buttons to navigate the user interfaces using hierarchical menus and a speaker to play sound files. Simple programs can be developed using this menus and more complicated programs can be downloaded through USB or Bluetooth. Though it can be programmed with many compatible languages, we have chosen Lejos, a high level open source language based on Java, for programming the device. A step by step procedure on how we have developed the robot is summarized below: Sensor Calibration: â€Å"A sensor (also called detector) is a device that measures a physical quantity and converts it into a signal which can be read by an observer or by an instrument† (Wikipedia). Sensor is like an eye for the Robot, without which they are actually blind. A robot uses sensors for detecting what is happening around them so that they can respond or react to varying circumstances. In our design, we have used a simple ultrasonic sensor. This ultrasonic sensor is attached to the Lego NXT brick and series of measurement were taken in order to calibrate the sensor. The various factors involved in sensor calibration include sensitivity- the smallest change in input that will be detectable in the output, range- the minimum and maximum distances it a can measure, precision- the degree of reproducibility of a measurement i.e if the same value were measured a multiple of times, and good sensor would output exactly the same value every time, resolution- the smallest detectable incremental change of input parameter that can be measured in the output signal, accuracy- the maximum difference between the actual value (which can be measured by a ruler) and the indicated value at the output of the sensor, linearity- an ex pression of the extent to which the actual measured curve of a sensor departs from the ideal straight line and Hysteresis- the measure of capability of the sensor to follow the changes of the input parameter regardless of which direction the change is made. The measurement for each factor is recorded and the device is calibrated. Odometry and Dead Reckoning: Now that we have calibrated the sensor for the robot to recognize when to respond, the next step is to help the robot know

Corporate Responsibilities to Ensure Work and Family Facilitation Essay

Corporate Responsibilities to Ensure Work and Family Facilitation - Essay Example Without these conditions, transitions in the workplace would be high and the quantity as well as the quality of outputs for the corporation would suffer. This paper shall discuss the corporate responsibilities which help ensure work and family facilitation. This paper is being undertaken in order to assist corporations in identifying their responsibilities and in order to assist them in the improvements they need to make for their operations. Body Work design Corporations have a major role in ensuring work and family facilitation and they can certainly do this by concentrating on their corporate work design. Work design has been identified as a major cause of various issues in work-family facilitation; and it also has been considered as an essential means in ensuring work progress (Heymann, 2000). In order to achieve the success of this design, the broad and dual agenda coverage has to be considered. The problems which corporations face must be assessed not according to how organizat ions can achieve strong performance in their workplace, but on how the workplace can be built to secure high quality work and a satisfying family life. 1. Sharing control and responsibility with the workers One of the means by which the work design can be re-imagined is for the corporation to share control and responsibility to their workers (Eaton, 2000). Sharing control in the policy and work management of employees as well as their representatives is important because the front-line workers as well as their managers are often already familiar with their work practices. The contribution of workers is therefore incorporated into the redesign activities in the workplace. It is also incumbent upon corporations to adjust the work culture and make the work hours more flexible while still maintaining strong outputs. Corporations must also encourage their employees to participate in the some decision-making activities of the corporation. Without these options, the flexible work policies will not be used well. Corporations also need to coordinate and dialogue with their workers in order to prevent resistance among supervisors and managers as well as work resentment from other employees (Bailyn, et.al., 2001). Through these activities, corporation can create a culture of being available for their workers. Corporations and workers need to discuss who can work together equitably based on family needs and personal circumstances. And in most cases, the most appropriate solution to various issues for employees is often to allow them to make choices and to allow them to assist in designing and administering firm practices as well as benefits. 2. Give more women opportunities in high-level corporate positions Corporations also have the responsibility of providing opportunities for women to occupy high level corporate positions. The most efficient means to ensure work-family facilitation is for corporate leaders to provide a balanced gender demographic among their supervisor y and rank-and-file staff (Blair-Loy, 1999). Since women often have multiple responsibilities, they often experience work and family life differently from men and they would likely prioritize their home life above their work life. Corporations therefore need to make accommodations for women in their supervisory staff, in higher corporate positions in order to portray a picture of women being given at least

What is correlation analysis Essay Example | Topics and Well Written Essays - 7000 words

What is correlation analysis - Essay Example What is correlation analysis? Coefficient of correlation is a measure of the strength of the linear relationship between two variables. In this case both variables must be at least the interval scale of measurement and the coefficient of correlation can range from -1.00 up to 1.00. If the correlation between two variables is 0, there is no association between them. A value of 1.00 indicates perfect positive correlation, and -1.00 perfect negative correlations. A positive sign means there is a direct relationship between the variables, and a negative sign means there is an inverse relationship. In regression analysis estimate one variable based on another variable and regression equation is an equation that expresses the linear relationship between two variables. The variable being estimated is the dependent variable and the variable used to make the estimate is the independent variable. The relationship between the variables must be linear. Both the independent and the dependent variables must interval or ratio scale and the least squares criterion is used to determine the regression equation. According to this assignment it’s required to express an equation in implicit form for two Major League Baseball teams in order to measure would it be profitable to pay $4 million to a free agent who would raise the team’s winning rate. A hypothesis is an assumption about the population parameter to be tested based on sample information. The statistical testing of hypothesis is the most important technique in statistical inference.

Human Resource Management Essay Example | Topics and Well Written Essays - 750 words

Human Resource Management - Essay Example As an example, there is evidence from a number of countries that a unionized workplace will provide more training to employees than nonunionized workplace. There is also evidence that unions influence formalization in employee recruitment and selection. Workplaces under unions are more likely to employ a formal process to advertise job vacancies and apply more objective tests in selection. Probably, these human resource practices achieve efficiencies foregone by nonunionized companies considering their pursuit of extra objectives such as the desire to stay away from unions. Moreover, unions seem to boost the quantity and quality of voice environments in the firms (Verma, 2005). Union status has a positive relationship with worker voice and voice increases lower the rate of quitting responsibilities. From these observations, the general picture that comes out is one of unionized companies being more formal in adopting some human resource practices that produce efficiencies for HR mana gement. Such practices include employee training, employee voice, selection and recruitment, group incentive strategies such as gain-sharing plans. Therefore, evidence from practice and studies supports positive gains for unions in many areas of HR managerial practice. The positive contribution can well be understood when we consider the case of Wal-Mart and union issues. The megastore has fiercely opposed the unionization of its employees across all its stores. But, what has been the result for this opposition? For the last five years, the firm has been incurring great losses due to court cases involving HR practices which are ruled in favor of the employees. The firm has been accused of its biased practices when recruiting employees. An example of such cases is of an employee in New Jersey who accused a manager of harassing him after realizing his sex-orientation. The store was ordered to pay the employee $2 million. Apparently, the judgments suggest that the HR practices of the c ompany affect the efficiency of management leading to great loses. If the company’s workplace was unionized, it is true that such practices would be improved enabling the firm to counter the issues within individual stores. The firm would adopt HR policies that would improve the management as it responds to the pressures of unions. Paper two When compared with issues on pay and productivity, occupation health and safety receive secondary attention despite its importance to an organization. This is because the issue has indirect benefits to the organization unlike pay and productivity. Occupation health and safety issue is about promoting and maintain of physical, social and mental health of employees in all occupations as well preventing and protection of health effects resulting from their working conditions (Burke, Cooper & Clarke, 2011). This suggests that the issue has direct benefits to employees rather than the organization. In addition, organizations are aware that occ upation health and safety practices incur high cost either directly or indirectly. Naturally, the firms will not give high priority to issues that incur high costs, yet their benefits are not clearly stated. They would rather pursue those issues that add to profitability. On the other hand, issues like pay and productivity have direct benefits to organizations. If a company does not address pay problems, it becomes hard for it to attract and retain employees. By having the right people, the company is aware of high overall performance and profitability. Productivity is directly connected to profitability. Since many profit organizations seek to increase profitability, they would consider the issues that satisfy this desire first. Furthermore,

Assignment-Oppression-Race, Class.And Gender in United States Coursework

Assignment-Oppression-Race, Class.And Gender in United States - Coursework Example The oppressed are treated cruelly and unjustly by those who have authority over them. For example, the poor continue to be oppressed as they have no means of getting out of their predicament. Tatum (2010) defines racism as a system of advantage based on race. Based on their color, the blacks are considered inferior than the whites due to racial prejudice. They are considered as not able to achieve much of the superior race of whites have been able to achieve hence are discriminated in all aspects; they cannot get good jobs, housing, and education among other aspects. Furthermore, the whites claim their privileges and advantages are biological in nature hence not racist; it is not their fault that they are advantaged. The blacks are blamed for their predicament in most cases as they are stereotyped as not willing to improve themselves and lack initiative. According to Hubbard (2010), human sexuality is not natural but a social construction in which children are socialized from birth. Traditionally, family roles were divided according to gender type. Some roles like hunting were solely for men while others like kitchen work was reserved for women and men were regarded as superior than women. Sexism is therefore the belief that one sex (male) is superior to the other (female) hence has the right to dominate almost all aspects of life. Women are discriminated against based on their sex due to gender stereotyping. For example, even with more women acquiring similar education levels as men, women still get absorbed in the lowly paid service sector while men join highly paid sectors such as engineering. Classism refers to the differences that exist between different groups in the society such that the dominant group oppresses the lower classes (Mantiosis 2010). He asserts that the society is divided into the wealthy class, middle class and the poor and acknowledges the fact that a wide gap exists between the rich and the poor in America contrary to a

The Gates of Paradise by Lorenzo Ghiberti Essay Example for Free

The Gates of Paradise by Lorenzo Ghiberti Essay Dear , When this letter reaches your hand, I hope you’re in the best of health mentally and physically. As for myself I’m blessed and can’t complain. The baby is doing fine, albeit being a little under the weather. I have been studying and swamped with schoolwork, trying to complete all of my final assignments for this semester. I had to write and share with you my wonderful experience. After providing you with many exciting detail you are going to want to experience this for yourself. In a recent visit to Florence, Italy, I had the chance to visit the Museo dellOpera del Duomo, where a lot of masterpieces from great masters were on display. It would be too lengthy for me to describe them all to you, so Ill focus on one works of art that has caught my interest. This piece is called The Gates of Paradise, and was created by Lorenzo Ghiberti from 1425 to 1452, a period of twenty-seven years. Well, you may wonder why it took such a long time for that piece of art to be completed. As I have seen in the exhibition, the work was intricate, which obviously requires time to make. Ghiberti was born in 1378, whose father was an artist and a goldsmith. His sculptures were usually coated in bronze or gold, a skill he obviously learned from his father. Being an artist of the early Renaissance period, he was revered in his lifetime. Like other artists of his era, he showed artistic freedom and individualism in his work. During the Renaissance, artists were prone to portray figures imbibing the Greek ideals of perfection. Florence then, his birthplace, was the center of culture and politics in Europe, until the end of the seventeenth century. You have to understand that during this time, religious art was in vogue, funded by patrons such as the Medici family, who paid high commissions to sculptors and painters, encouraging artistic culture to flourish. Some scholars think that this religious fascination stemmed from the societys realization regarding life and death as a result of the Black plague that badly hit Florence in the late fourteenth century. Ghiberti won a competition in 1401, when he was twenty five, which made him famous. In this competition he made twenty-eight sets of panels, made in bronze, for the cathedral in Florence, where each panel depicted scenes from the New Testament. The work was completed in twenty-one years. After completing this work, he was commissioned to do another doorway for the church. This time, he made ten panels depicting scenes from the Old Testament. Being highly gifted in sculpting and metalworking, his works show vividness and durableness. The famous Michelangelo Buonarotti called the doorways, Gates of Paradise. In these panels, these scenes from the Old Testament include: The Creation of Eve, Noah and his family, Moses receiving the Law from God in Mt. Sinai, David beheads Goliath, The Creation, and The Fall and Banishment. The artist prepared the main panels using the wax casting process, a technique thats not used nowadays. The modeling of each panel was in wax, and then covered with plaster and clay jacket. After the panels were covered, Ghiberti baked the panels to melt the wax, leaving a mold for bronze to be poured. Once the bronze cooled off, the plaster and clay were removed. Then, each panel was cleaned and the finer details were worked on using metal tools. It took Ghiberti years to complete the fine details found in the panels. Once the main frames were complete, Ghiberti next worked on the fire-gilding method, which was dangerous for it involved a gold-mercury amalgam. The process involved applying the amalgam to each panel. Mercury fumes, which are toxic, dissolved in the air by heating, in order to leave the gold on the surfaces. In 1452, the completed doors were installed, and they stood for five centuries until World War II. During the Second World War, Nazi officials in Italy coveted the artworks found in Florence. They asked for the sculptures, paintings, and other works of art to be transferred and become part of their private collection. Fortunately, somebody thought of hiding the Gates of Paradise in a railway tunnel in the South of Florence. After the war, the doors were recovered and some artists made replicas. These replicas were sold to the Grace Cathedral after the liberation in 1944. The originals were placed in the 1980s in the Duomo museum for restoration and safekeeping after flooding in Florence destroyed some of the panels. Florence is not the city it once was during the Renaissance. Times have changed, and artistic culture has given way to industrialization and modernization. But Florence still remains a beautiful place with a rich history and a collection of thousands of arts from great masters who once lived and breathed in the city. Well, thats all I can share with you. Nothing compares to seeing the actual masterpieces in person. Hope you could come with me on my next Italian tour. Ciao! Sincerely. Reference The Gates of Paradise: Lorenzo Ghibertis Renaissance Masterpiece. The Metropolitan Museum of Art. Retrieved December 4, 2007, from: http://www. metmuseum. org/special/gates_paradise/ghiberti_images. asp

Lactic Acid And Fatigue Health And Social Care Essay

Lactic Acid And Fatigue Health And Social Care Essay A large portion of the population, including athletes and coaches in this current era still believes that the limitations of exercise performance is due to lactic acid build up causing fatigue. It is a stubborn myth that stood through the test of time. This is a relatively  old school of thought  that has its roots in the work of Fletcher K [1]. Lactic acid was regarded as an end metabolite of glycolysis and elevates as an exercise intensify where oxygen availability decreases[2]. It was Brooks GA that started the Lactate revolution. He presented the lactate shuttle hypothesis in his work in 1986[3]. It was due to this hypothesis that scientists, even in present day, question the mechanisms of lactate or lactic acid in the body and its involvement in fatigue. This report will delve into studies within the recent decade, touching on conflicting ideas pertaining to lactic acid and its involvement in fatigue. I will further break down lactic acid into its biochemical components, lactate and hydrogen ion, and discuss studies which have contradicting beliefs on these components implication with fatigue. Finally, I will highlight on recent articles that has even challenged the underlying mechanism behind fatigue. Lactic Acid as a whole? Lactic acid was considered a metabolic waste. It is a by-product of glycolysis in the conversion of glucose to pyruvate. It was blamed for the burning sensation felt during and after performing a high intensity exercise which would then finally cause fatigue. However, the idea of lactic acid causing muscle fatigue has been challenged since the 1980s. For example, human deficient in the enzyme myophosphorylase showed faster muscle fatigue eventhough they are incapable of breaking down glycogen and accumulate lactic acid[4]. Studies on single muscle fibres showed constant rate of fatigue eventhough its pH was intentionally lowered[5]. It is seen today that many studies have challenged one anothers idea. It is important to consider all options before finally cementing a theory. Firstly, it would be unfair to blame lactic acid as a whole when it literally does not exist in this neutral construct[6, 7]. It expresses as hydrogen ions (H+) and lactate ions in the body [7, 8]. Several studies have and should continue separating these 2 entities and experimented on them separately to find its link with fatigue as either one, both or none of them could be the cause of fatigue. So is lactate the real culprit? It was long written in literature that lactate is known as a metabolic waste product. However, lactate is far from being a useless product. There has been growing number of evidence of the beneficial properties of lactate and this has tested the universality of the hypothesis linking muscular fatigue with lactate production. Lactate, being produced when glucose breaks down to pyruvate [9], allows continuation of glycolysis by generating the NAD+ needed in glycolysis[10] thus preserving exercise performance and delaying fatigue. With the presence of oxygen, lactate can be converted to pyruvate which could be converted to glucose. This process is called Cori cycle[11]. It can then be utilized or stored as glycogen, according to the bodys need at that point of time[11]. This makes lactate a good source of energy. Lactate could be cleared by oxidation in the muscle fibre it was produced. Oxidation of that particular lactate could also happen in other muscle fibres as the lactate is being transported. Those lactate not oxidized will diffuse into the blood veins and transported to the liver[12].Lactate is favoured by the brain and used extensively as a source of fuel[13]. Lactate was known to contribute to fatigue. Many studies nowadays shows otherwise, in fact, it has been studied that lactate may delay the onset of acidosis mainly via H+ reduction. In this review[14] and study by Robergs R.A[15] (supported by S.E Allen[16]), H+ were found to be carried out from cells by transporters and also be consumed by lactate. However, this statement has been challenged by Lindinger M.I., stating that Roberg ignored that lactate is an anion. Its increase would therefore reduce Na anions and thus increase H+ to maintain electroneutrality[7]. Although Lindinger might be correct, there are more studies supporting the opposite notion. A solid ground breaking revolution should occur when lactate is being administered to athletes via energy drinks, however many are still in the dark in recognizing lactates true potential. A study showed that lactate is utilized more efficiently with a greater extent compared to glucose or fructose and also enhances high intensity performance[17]. To further add value to lactate, it is found that performance decrement has no correlation with lactate production[18]. It is clear from the whole list of resources in literature that lactate is not a bad metabolic waste product and is actually beneficial in more ways than one, especially in delaying the onset of fatigue. Therefore, accusing lactic acid to be the culprit of fatigue would indirectly blame lactate, which is not acceptable when it is a beneficial component in exercise performance. So it must be Acidosis! It is clear among literature that acidosis has been under the limelight for causing fatigue. The lowering of pH in the muscle has been accused of causing the burning sensation and the decreasing muscle efficiency that comes with fatigue[19]. In 2003 a review by L. B. Gladden [20] states that RH Fitts [21]has evidence of a whole list of experiments suggesting that acidosis can have negative detrimental effects on muscle function by 1-reducing the transition of the cross-bridge from the low- to the high-force state, 2-inhibiting maximal shortening velocity, 3-inhibiting myofibrillar ATPase, 4-inhibiting glycolytic rate, 5-reducing crossbridge activation by competitively inhibiting Ca2+  binding to troponin C, and 6-reducing Ca2+  re-uptake by inhibiting the sarcoplasmic ATPase (leading to subsequent reduction of Ca2+  release). This may sound contradicting as there are resources saying that acidosis do not cause fatigue. However, it is important to know that the experiments explained by RH Fitts[21], are done in vitro and when the experiments are redone at temperature closer to those experienced physiologically, the said negative effect of acidosis diminishes[20]. In the recent years, experiments have been showing that acidosis has been far from being the cause of fatigue. Neilsen explained that muscle contraction causes acidosis, loss of intracellular K+ and extracellular K+ build up[22]. High extracellular K+  leads to loss of contraction force therefore fatigue[23]. It was found that acidification nullify the effects of the extracellular K+ that are linked with fatigue[22]. This is further supported by other studies[24-26] on the fact that acidosis has protective capabilities against muscle fatigue. Gathering all the resources, it would be safe and logical to say that since acidosis delays fatigue, alkalosis (the opposite of acidosis) should have an opposite effect thus cause fatigue faster. However, this was proven wrong in many studies [27-30]. Taking time to look at the whole picture of the studies, studies regarding alkalosis were done as a whole body model experiment (in vivo). Looking back, the experiments done on acidosis were not done as a whole-body experiment. Instead, it was done on single muscle fibre in in vitro situations. Studies from the past showed that acidosis can contribute to fatigue in intact human body or animal [31-33]. To integrate the studies from isolated muscle model with accordance to whole-body exercise, Cairns hypothesised that acidosis may improve performance in isolated muscle, high blood plasma acidosis may cause a reduction in central nervous systems drive to the muscle thus causing fatigue[6]. Another limitation that may affect experiments is that fast twitch muscles are more susceptible to acidosis[6] therefore experiments on a single muscle fibre as seen in a lot of studies regarding acidosis, might not give an accurate holistic overview of the reaction of a whole muscular body. Also H+ might interact with other unknown cellular changes in the body therefore slightly discrediting isolated muscle fibre experiments with comparison to whole body experiments. Overall, acidosis has been thought to be the main contributor to fatigue. However, recent studies in the last decade have been trying to contest the statement. In my opinion, it is rather early to disregard acidosis as the cause of fatigue, as in vitro studies are only suggestive. Future studies should take into account acidosis as a whole body experiment (in vivo) where hormonal and other physiological interactions are possible. If there are claims of acidosis not causing fatigue, then what does cause fatigue? So in substitution of the uprising hypothesis that elevated H+ is not the main cause of fatigue, there have been many competitors to claim its place. Supported by a study, Westerblad have been claiming that inorganic phosphate has the main role in fatigue[34]. Inorganic phosphate increases as muscle is being contracted and creatine phosphate is being broken down. However, a book by Fitts[21] challenged Westerblads idea, highlighting several limitations concerning the inorganic phosphate hypothesis. He stated that the studies did not assess the holistic combination of the resultant effect of an elevated inorganic phosphate with low pH and low calcium ion release. Also the effects of acidosis on peak power were not evaluated. Even Westerblad agreed that the study was done on a single muscle fibre and the result might be different when done with a whole model. He pointed out that studying on a single muscle fibre provides the most direct physiological responds when questioning the cellular mechanisms of fatigue. Also, claiming that the The differences that inevitably must exist appear to be mainly of a quantitative nature[34]. I believe that it is still early to refute the idea of acidosis not causing to fatigue. In the case of studies on inorganic phosphate, its role in fatigue is still in an early stage and should not be dismissed as of yet. Several questions have yet to be answered. However, creatine phosphate is after all only involved in the first 10 seconds of an intense exercise therefore queries of its role extending within these 10 seconds are questionable. Other than phosphates, there have been a large number of studies[22, 23] claiming potassium ions to be the main cause of fatigue. In this particular study by Cairns[35], he states We hypothesize that during high-intensity exercise a rundown of the transsarcolemmal K+  gradient is the dominant cellular process around which interactions with other ions and metabolites occur, thereby contributing to fatigue. The raised extracellular K+ causes a sarcolemmal depolarization, therefore disrupting the excitability of the muscle thus resulting in fatigue[35]. This is however contradictory to a previous study being done on rats[36]. In the study, it suggests that extracellular K+ is overhyped in previous studies on isolated muscles and that it is of less importance for fatigue. Overall, it is still hard to cement a theory as long as insufficient studies are done on whole intact animal models. This is however, being a case of isolated muscle studies versus in vivo studies. In my opinion applying Occams razor, acidosis should stay as the cause of fatigue unless proven otherwise with solid in vivo studies. Conclusion So to go back to the age old question, does lactic acid cause fatigue? It is important to remember that lactic acid disassociates to lactate and H+ ions, each with its own characteristics and interactions with the body therefore it needs to be addressed separately. Taking lactic acid as a whole and blaming it would be unjust and inaccurate. As of recent time, it will take time and effort to disprove acidosis as the cause of fatigue as many studies were done in vitro and results only suggest possible mechanism in the human body. I do however believe that there is no one main mechanism causing fatigue, it is however a collective effort of different mechanisms, few of which are possibly phosphate and extracellular K+, that contribute to fatigue. As of now, lactate is a good byproduct and acidosis still remains the main cause of fatigue.

Water Analysis to Determine River Tees Chemical Composition

Water Analysis to Determine River Tees Chemical Composition Water analysis to determine the chemical composition within a section of the River Tees, and the difference between freshwater samples and Sea water. Introduction Water is one of the most fundamental requirements for man’s existence on earth; it is required in so many functions such as for drinking, cooking agriculture and even transportation either biological, (blood) or non-biological such as cargo ships, (Hunt Wilson, 2002). Without water, life as we know it would simply cease to exist; Water is one of earth’s most renewable resources. As such, it is vital that water content is analysed to monitor toxic and non-toxic chemicals entering the water systems, monitor global anthropogenic impact, react rapidly to chemical contamination through accidents or industry, and to enable safe water systems for domestic and agricultural use. One such example of where water analysis has been instrumental is after the recent floods in the UK where overflow from sewers, rivers and run off from industrial sites has allowed chemicals to enter into water systems. Analysis of these systems allows for the damage to be assessed and necessary action to be taken, (Environment Agency, 2014). Our aim of the practical was for us to understand the different methods of water analysis. We conducted a number of tests on a number of freshwater samples and one sweater sample to determine the levels of pH, salinity, conductivity, dissolved oxygen, nitrate content, ammonia and phosphate content within the water samples; this enabled the analysis of whether there were differences in chemical content between the freshwater samples and sea water. Hypothesis: â€Å"That there is a difference in chemical composition within water samples taken from three sites along the river Tees and a difference between freshwater and sea water†. Method pH Water samples from the Durham University section of the River Tees were analysed using a mixture of both a hand held ultrameter (Myron) and a probe meter. A 10ml quantity of water from all the samples taken was placed in a test tube. A pH probe meter was inserted and the pH results recorded. Using the electronic hand held analyser, the samples were analysed by placing a small amount of the sample into the analysing cup attached to the device. The lid was replaced and the pH button pressed to start the analysis. The results were recorded as shown in table 1. Salinity Water salinity was measured by using a hand held salinity meter with a salinity range of 0-100% (density 0.001sg). A small amount of the water sample was placed onto the deviation prism. The cover plate was closed and the instrument was held up to a light source (natural light) and the reading taken from the salinity gauge and recorded. The analysis was repeated for all the samples and the results were recorded as shown in table 2. Conductivity As per pH but using the Conductivity function on the Myron multi-meter. The analysis was repeated for all the samples and the results were recorded as shown in table 3. Dissolved O2 As per pH but using the dissolved O2 function on the Myron multi-meter and the analysis was repeated for all the samples and the results were recorded as shown in table 4. Nitrate (Nitratest) Nitrates in the water samples were reduced to nitrites using a zinc based reduction agent, (Nitratest powder and Nitratest tablet). The solutions were then transferred to a clean test tube where a re-agent was added, (Nitrocol tablet). The solutions were then analysed for nitrate levels using the Palintest 8000 photometer and the analysis was repeated for all the samples and the results were recorded as shown in table 5. Ammonia We tested the water samples using the indophenol method by the addition of chlorine and catalysts that react with ammonia to form a coloured solution, (Indophenol complex). fig1. Reagents in the form of tablets were then added and the sample solutions analysed using the palintest 8000. The analysis was repeated for all the samples and the results were recorded as shown in table 6. Note: For the Sea water sample (Sample 1), Ammonia conditioning agent was added to prevent the precipitation of salts. Fig 1. Water samples in Indophenol complex form prior to testing for Ammonia. Phosphate LR We tested for phosphates by reducing the samples by ascorbic acid as phosphates react under acidic conditions with ammonium. Catalysts were added to ensure a rapid colour movement as well as an inhibitor to deter any influence from silica present in the solution. Reagents were then added and a period of 10 minutes elapsed prior to placing the samples for analysis testing using the palintest 8000. The results were recorded as shown in table 7. Results: pH The pH values of both the fresh water and sea water samples analysed all fell within close proximity to each other and within the parameters of normal surface water of pH>6.5 – pH Table 1. pH values from water samples taken from the Durham University area of the River Tees and one sample of seawater. Salinity: Only one sample (Sea water) registered for salinity when tested. The Reference -Composition salinity (SR) was 30, (SCOR/IAPSO Working Group 127, 2008). Table 2. Salinity values from water samples taken from the Durham University area of the River Tees and one sample of seawater. Conductivity: Electrolyte conductivity recorded in the samples ranged from 8.4 S/m in the sea water sample and between 9.6-10.85 S/m in the freshwater samples. The Seawater sample was higher than the normal range of 5 S/m, and the fresh water samples were within normal parameters 5-55 S/m. (California State Water Resources Control Board, 2004). As shown in Table 3. Table 3. Conductivity values from water samples taken from the Durham University area of the River Tees and one sample of seawater Dissolved Oxygen: Sample 1, (Seawater) falls within the normal range for DO2 as recommended USEPA of >80% DO=83.6. (Canadian Council of Ministers of the Environment, 1999). Samples 2-4 (Freshwater), also fall within the guidelines of freshwater DO2 based on CCREM guidelines of 65% and 100%, DO=76.2-98.7% (Canadian Council of Ministers of the Environment, 1999), as shown in table 4. Note: All samples were analysed in lab conditions at room temperature and as such are subject to the relevant physiological conditions such as pressure and temperature which should be considered, (Henry’s Law etc). Table 4. Dissolved Oxygen values from water samples taken from the Durham University area of the River Tees and one sample of seawater. Nitrate: All the samples tested were within the safe limits of nitrogen content in water, (0-10mg/l), as shown in table 5. (Seawater = 0.82mg/l and freshwater =0.047mg/l to1.52mg/l). (World Health Organisation, 2011). Table 5. Nitrate values from water samples taken from the Durham University area of the River Tees and one sample of seawater. Phosphate: Phosphate levels found in sweater were within the normal range (1.2 mg/l and 1.6mg/l), (Paytan McLaughlin, 2007). The phosphate levels found within the freshwater samples exceed the recommended limits = . Table 6. Phosphate values from water samples taken from the Durham University area of the River Tees and one sample of seawater. Discussion The ocean contains approximately 97% of all the Earths’ water. (Hunt Wilson, 2002). The ocean and fresh water although have similar properties such as the molecular structure H2O, the chemical properties can be quite different. There are many factors that affect the chemical properties of both fresh and sea water, such as pollution, natural occurrences (e.g Algae blooms) and acid rain, and it is imperative that constant monitoring of our water systems is undertaken to be able to act proactively and swiftly to any changes. (Environment Agency, 2014). When considering the results of our analysis, we can see similarities on pH and dissolved oxygen, (Table 1 and table 4 respectively). Both these chemical properties give a clear indication as to the health of the water systems being analysed. A high pH in the seawater sample for example could suggest an increase in acidification, or pollution in the freshwater should a high pH have been found, especially in an area of high industrial manufacturing such as Stockton and Middlesbrough. The most noticeable difference between the samples was the salinity of seawater against freshwater, (Table 2). As one would expect, seawater salinity is considerably higher due to the output of weathering of the Earth’s surface being transported into the oceans. This makes the ocean a different habitat than that of freshwater. Conductivity increases as salinity increases, however this was not found in our analysis. One possible reason could be the time that the sample took to be analysed and the sample temperature as these factors could have affected the results. (SCOR/IAPSO Working Group 127, 2008). Nitrate content was lower in seawater. Nitrates are a naturally occurring compound in the water system whether fresh or sea water. However the slightly higher levels of nitrates shown in freshwater could indicate anthropogenic influences due to farming. (World Health Organisation, 2011) High Nitrate composition is also harmful to health as this could cause methemoglobinemia. Nitrates reduce the ability of blood cells carrying haemoglobin resulting in infant deaths. This would also add weight to the higher levels of Phosphates present as it has been suggested that Phosphate increases could be attributed to fertilizer usage and above the levels suggested as acceptable. (White Hammond, 2006). In Summary, the water chemical composition of both freshwater and seawater in general fall within normal expectations and are good indicators of the quality of the water system within an industrialised zone. The hypothesis that there is a chemical difference between the two sample types, freshwater and seawater was proven if only somewhat marginal. Further testing for different chemical composition could find a different result. Exercise Chemical differences between saltwater and freshwater. The major difference between fresh water and salt water is salinity. Freshwater has little or no salt content ( The chemical composition differences between seawater and freshwater can be outlined in order of abundance in table 8. (SCOR/IAPSO Working Group 127, 2008) Table 8. Chemical composition of seawater and freshwater in order of abundance. Dissolved Oxygen Dissolved Oxygen concentrations, (DO), in water is an important factor for all aquatic life. Should DO levels exceed 110%, it can become harmful to marine life and could case the blockage of gas exchange in what is known as â€Å"gas bubble disease†, whilst water that has a DO of less than 5mg/l or lower over a longer period of time can result in fish kills on a large scale and puts stress on all aquatic life. (Canadian Council of Ministers of the Environment, 1999).

Values Education Essay -- Education

Australia as a nation is underpinned by the belief of a democratic society that requires the acquisition of essential knowledge, skills and values in order to enable all citizens to proactively play a part in the shaping their preferred future of a more equitable and socially just world (Bliss, 2005). To that end, Values and Values-based Education are considered to be an integral aspect of the Educational landscape as there is a recognition that values are not only a crucial part of a critical understanding of society, but also the key to successful participation in our democracy (Allison & Von Wald, 2010). For this reason the incorporation of values in schools is becoming increasingly important, as the active construction and clarification of values associated with contemporary legal issues in schools provides for the inclusion of the Australian Government’s key policy document, National Framework for Values Education in Australian Schools (Australian Government Department of Education, Science and Training, 2005). Today’s students are fast becoming members of an increasingly independent pluralistic community that supports a strong commitment to Values education, incorporating values exploration and clarification into student’s learning experiences in the classroom (Lovat, Dally, Clement & Toomey, 2011). Moreover, values are not only considered to be the key to modern education policy but the current Queensland Senior Legal Studies Syllabus 2007, which is aimed at assisting individual students to develop the knowledge, attitudes, values and beliefs that will enhance their ability to participate actively as critical members of society; a key aim of Values Education in schools (Australian Government Department of Education, Sc... ... Early Childhood Development and Youth Affairs (MCEECDYA). (2008). Melbourne Declaration on Educational Goals for Young Australians. Retrieved from Ministerial Council for Education, Early Childhood Development and Youth Affairs website http://www.mceecdya.edu.au/verve/_resources/National_Declaration_on_the_Educational_Goals_for_Young_Australians.pdf Queensland Studies Authority. (2007). Legal Studies Senior Syllabus 2007. Retrieved from Queensland Government: Queensland Studies Authority website http://www.qsa.qld.edu.au/downloads/senior/snr_legal_studies_07_syll.pdf United Nations Educational, Scientific and Cultural Organisation (1998). Learning To Live Together In Peace and Harmony: Values Education for Peace, Human Rights, Democracy and Sustainable Development for the Asia-Pacific Region. Bangkok, TH: UNESCO Principal Regional Office for Asia and the Pacific. Values Education Essay -- Education Australia as a nation is underpinned by the belief of a democratic society that requires the acquisition of essential knowledge, skills and values in order to enable all citizens to proactively play a part in the shaping their preferred future of a more equitable and socially just world (Bliss, 2005). To that end, Values and Values-based Education are considered to be an integral aspect of the Educational landscape as there is a recognition that values are not only a crucial part of a critical understanding of society, but also the key to successful participation in our democracy (Allison & Von Wald, 2010). For this reason the incorporation of values in schools is becoming increasingly important, as the active construction and clarification of values associated with contemporary legal issues in schools provides for the inclusion of the Australian Government’s key policy document, National Framework for Values Education in Australian Schools (Australian Government Department of Education, Science and Training, 2005). Today’s students are fast becoming members of an increasingly independent pluralistic community that supports a strong commitment to Values education, incorporating values exploration and clarification into student’s learning experiences in the classroom (Lovat, Dally, Clement & Toomey, 2011). Moreover, values are not only considered to be the key to modern education policy but the current Queensland Senior Legal Studies Syllabus 2007, which is aimed at assisting individual students to develop the knowledge, attitudes, values and beliefs that will enhance their ability to participate actively as critical members of society; a key aim of Values Education in schools (Australian Government Department of Education, Sc... ... Early Childhood Development and Youth Affairs (MCEECDYA). (2008). Melbourne Declaration on Educational Goals for Young Australians. Retrieved from Ministerial Council for Education, Early Childhood Development and Youth Affairs website http://www.mceecdya.edu.au/verve/_resources/National_Declaration_on_the_Educational_Goals_for_Young_Australians.pdf Queensland Studies Authority. (2007). Legal Studies Senior Syllabus 2007. Retrieved from Queensland Government: Queensland Studies Authority website http://www.qsa.qld.edu.au/downloads/senior/snr_legal_studies_07_syll.pdf United Nations Educational, Scientific and Cultural Organisation (1998). Learning To Live Together In Peace and Harmony: Values Education for Peace, Human Rights, Democracy and Sustainable Development for the Asia-Pacific Region. Bangkok, TH: UNESCO Principal Regional Office for Asia and the Pacific.

Enrons Fraudulent Accounting and Financial Information Essay -- essay

Published financial information is issued to meet the needs and demands of their users. These range from Shareholders who will check on what direction the company is heading, whether it has achieved healthy profits, that it's solvent, the value of the company and possible signs of failure. Other users are the employees, who will want to check the statements to see whether their jobs are safe and see if possible, whether there could be wage and pension increases. This report offers information on operating results and financial conditions of companies to stakeholders as well as to shareholders. Any fraudulent financial reporting of a company like Enron for example would have a widespread and severe impact on employees, business acquaintances, investors as well as stakeholders and shareholders if the company went bankrupt. But are financial statements as truthful as they seem? There are many different types of safety measures in place to protect the investors and the public as a whole. These include Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS) and Statements on Auditing Standards (SAS) and all professional ethics. The GAAP is a specific set of guide lines that companies follow when measuring and reporting information on their financial statements. During audits of any company it must be conducted yearly by an external and independent auditor to ensure it follows GAAP consistently and if they do not, they have to explain why not, and present justifications to show that what they are doing is both ethical and appropriate in their situation. In the case of Enron they manipulated this by bolstering balance sheets with inflated asset values and dispersing their liabilities to... ... sold off their shares within a six month period to gullible investors who probably thought Enron was still a good company to invest in, especially after seeing the financial statements which were obviously falsified to attract them, but not knowing what was coming around the corner. If the general workforce ever found out there would have been general panic and the shares would have collapsed over night, leaving the executives with nothing but worthless paper. In the end it was greed of the highest order. In December 2001 Enron filed for bankruptcy with debts on its books of 13.1 billion dollars, 18.1 billion on their subsidiaries and an estimated 20 billion of the balance sheets. This totalled in excess of 51 billion dollars. These figures are a clear indication of the needs to tighten up the overseeing of all company auditors both internal and external.

Diet Aids and FDA Approval

The diet industry is huge, a multimillion dollar industry. The introduction to products that help individuals lose weight will always be popular and interest never wanes because of the frequency in which new products arise from the market. Now comes the big question, just how important is it for diet aids to have Food & Drug Agency (FDA) claims? Most health supplements, vitamin supplements, and diet aids do not have FDA approved on them. But does this really matter? In some cases, yes and in others no. The FDA is an organization that is part of the US department of Health and Human Services.The center for drug evaluation and research (CDER) makes sure that all prescription and over the counter drugs are safe for consumers, including diet supplements. Most diet aides are released without being regulated from the FDA but every now and then one is, the most recent being ephedra, and its ban. It is important to remember two things when reading claims whether they are for health benefits or for dangerous side effects. The first is that if there is a warning on the label it is unknown whether 50% of all those that used the product or if on 0.1% had side effects. Companies must put the side effect warning on the label if only one person in the study had side effects. This is mainly for insurance, if you take the diet aid and experiences side effects out of thousands of individuals that don’t then you can’t sue the company; the warning was on the label. Secondly just because there are health benefit claims on the label doesn’t actually mean that they will happen to the individual taking the product. It simple means that it may happen not that it definitely will.However having FDA approval is always a good thing. Unlike a company the FDA will conduct research or contract researchers to conduct a thorough and correctly structured clinical study. Any results will show good conclusions that can be trusted. The FDA is looking out for the consumer, not t he companies whose bottom line is to make as much product as possible. Here is an outline of the regulation of diet aids with ephedra. Ephedra was a popular weight loss product, particularly when paired with caffeine and aspirin.However the use of ephedra was linked to heart problems and over 155 deaths. Like many diet aids it increases your metabolism by increasing your heart rate, which causes many problems. The FDA could not actually ban ephedra but it sent out a ruling that the FDA does not support and products containing ephedra as it had unreasonable risks of illness or death associated with it. The FDA collected information about ephedra from independent experts and studies on both the benefits and dangers of ephedra.However it should be noted that Chinese herbal medicines and teas that contain ephedra are not regulated under this ruling. (Nelson, 135). Now it is very likely that a vast majority of individuals using ephedra did not experience any side effects or heart problem s at all. However there was enough of the population that did, and most importantly quite a few deaths were found to be directly linked to ephedra in diet supplements that the FDA felt there was a significant cause for concern.Due to it’s ruling many states in the US banned the selling of ephedra products causing many companies to reformulate their diet products. Also if you look at the history of the FDA and its rulings you will find a very tangled web. The FDA during the 1940s and 50s in diet aids approved amphetamines and amphetamine like products. Since then the FDA has been trying to define the parameters in which these products can be safely taken (Colman, 380-385). The FDA has been found to change its mind over time, particularly as science is improving and research tools are becoming available.Now I should let you know that a product containing ephedra is still all-natural because ephedra comes from the Ma Huang plants. Incidentally most health supplements and diet ai ds all come from plants, so they are â€Å"all natural†. Just because it is labeled all natural doesn’t mean it isn’t dangerous. Almost anything at the wrong level will kill you. It is simply the products that are dangerous at small amounts that cause the most concern. Eating carrots can cause blindness and eventually death, but you have to eat a lot of carrots for a long time.Many of the substances found in diet aids are at concentration higher than they would be found in nature and this is what can make them harmful. Now comes the consumer, just who should they believe. You are standing in a store reading a label that lists some pretty fantastic benefits, but it is not FDA approved (Allen). Many products are being marketed as helping you lose weight, improve your life span or have anti-aging properties. Without the correct clinical trials, which can take years, it is unknown if the benefits outweigh the risks.As previously stated Ephedra was first approved and then found to be dangerous as was another product called Fen-phen. (Keim). There are many health claims available to help your memory, expand your age, make your heart healthier etc. You can achieve this by taking ginkgo boloba, cinnamon extract, grapefruit extract, acai juice, resveratrol etc. There are other diet aids that act as appetite suppressants or are thermogentic (raise your metabolism), fat blockers, and meal replacement.The real danger is not using the diet aids in a correct manner as there are significant risks of developing eating disorders when using dieting aid (Celio, 492-497). This takes away from the benefits you will have by losing weight because you will be lighter but you won’t be healthy. It is amusing to actually read the directions on diet aids. The majority of the time the directions give dosage information and then state that it is only effective eating a healthy diet and exercise. Now most medicinal practitioners and athletes can get an individual to lose weight by eating sensible and exercising.The diet aid may actually work not because of the diet aid but because you are eating a healthy diet and exercising. There is a large psychological part to dieting that many people do not understand. On a personal note I would feel much more secure and confident using a diet aid that was approved by the FDA but that does not mean that I would rule out using other products. I would first research and collect some information about products. I would stear clear of any product that says has side effects relating to heart problems or internal organ failure.If the side effects are not minor and research shows that cultures have been using it successfully for years then I probably would try it. It is important to pay attention to detail such as concentration in the diet aid as well as follow the directions and pay attention to what is going on in your body. If I had any concerns I would see about speaking to a nutritionist or doctor about any risks. It is fine to use diet aids but don’t just pick one on a whim. You do need to be careful and determine what the risks are and if you think the benefits are greater than the risks.

Managerial Finance Essay

ASSIGNMENT BMMF5103 MANAGERIAL FINANCE 15 July 2013 QUESTION 1 a) Maximizing shareholder wealth is a â€Å"moral imperative† for financial manager means managers are supposed to work for shareholders who are the actual owners of a company or corporation. Shareholders elect company directors who in turn hire managers to run the company on day to day basis with the view to make profit for the company. Managers are paid for their services rendered to the company whereas the shareholders own the company. As such morally managers should pursue policies that enhance shareholder value with the primary objective focused on stockholder wealth maximization. b) Managers make key day-to-day decisions to maximize shareholder value. But how do the owners of a business know that managers are operating to maximize shareholder value? This lack of information is known as the principal-agent problems. The agent performs the tasks on shareholders’ behalf yet the shareholders cannot ensure that the agent performs precisely the way the shareholders would like. Agency costs as related to a corporation refers to the costs of preventing agents (e.g. managers) pursuing their own interests at the expense of shareholders. There might be conflicts between shareholders and the company managers. Shareholders who are owners want the managers to make decisions which will increase the share value. Managers who receive salaries prefer to expand the business with the view to increase their salaries which may not necessarily increase the share value. Thus, agency costs tend to decrease the value of a corporation because the rising costs make the share price low when there is substantial debt involved. Costs of monitoring will increase and thus reduce wealth maximization of shareholders. c) Business ethics is the acceptable set of moral values and corporate standards of conduct in running a business organization. It includes proper business policies and practices such as corporate governance, as a check against insider trading, bribery, discrimination and covers corporate social responsibility and fiduciary responsibilities. Business ethics is a basic framework providing proper conduct, it may be guided by law or put in placeso as to gain public confidence and acceptance. An example of business ethics is when an employee lie to a potential client to get him to sign for services or purchase the product offered. Business ethics is important to a corporation because it will determine its reputation. It will give public confidence towards the corporation. It is essential for the long-term survival and success of the corporation in business. Implementing an ethical program will foster a successful corporation culture, values and enhanced profitability. Business ethics will also influence the way the corporations conduct its business and affect all including customers, employees, suppliers, competitors, etc. d) Advantages i) There is no maturity period in common stock. Thus, eliminating future repayment obligation and enhances the desirability of common stock financing. ii) There is no obligation for repayment of the funds. Instead, there are others to share the risk of the business investment with. Since there is no debt obligation, there is no finance fee. iii) Issuing common stock can increase firm’s borrowing power.The more common stock is sold, the larger the firm’s equity base. Therefore, the more easily and cheaply long-term debt financing can be obtained. iv) Once capital is raised through stock, the corporation is free to use the proceeds in any way it pleases. Disadvantages i) Involves high cost.It may be the most expensive form of long-term financing. Dividends are not tax-deductible and common stock is a riskier  security than either debt or preferred stock. ii) Potential effects of dilution on earnings and voting power. When a company or corporation issues more shares, its financial results must be divided by a larger number of shares, causing dilution. This is because selling of shares of the company means giving each investor a piece of ownership. Because they own the share of the company, the investors have the right to demand explanations and justifications for business decisions. iii) Market perception that management think. Management issues involve examining perceptions about management and perceptions by management. It includes various judgments regarding the competence of current and future management team as well as issues related to insider buying such as future strategies to increase operations and market share.When management makes large purchases of their own stock with private funds, investors may feel that the company is undervalued or that a favorable company event will occur soon. e) The three main users of ratio analysis i) Owners: The owners of a firm are mainly interested in the firm’s profitability, liquidity and hence survival. Therefore, they need financial ratios to test the performance of their company such as profitability ratios to find outwhether management is able to convert sales dollars into profits and cash flow. The common ratios are gross margin, operating margin and net income margin. The gross margin is the ratio of gross profits to sales. The operating margin is the ratio of operating profits to sales and net income margin is the ratio of net income to sales. The return-on-asset ratio, which is the ratio of net income to total assets, measures a company’s effectiveness in deploying its assets to generate profits. The return-on-investment ratio, which is the ratio of net income to shareholders’ equity, indicates a company’s ability to generate a return for its owners. These ratios are useful to owners of companies. ii) Creditors Creditors are interested in a firm’s ability to pay their debts over a short period of time.The ratio analysis will evaluate the firm’s liquidity  position. Creditors use liquidity ratio, which is the ratio of current assets to current liabilitiestogauge the ability of the company to pay its short-term bills. A ratio of greater than one is usually a minimum because anything less than one means the company has more liabilities than assets. iii) Management Management team comprising financial managers regularly use ratio analysis to evaluate financial policies and decisions they have made. It is the overall responsibilities of the management team to make sure available resources are used most effectively and efficiently and that the financial positions of the company is sound.Management uses profitability ratios to analyze the company’s ability to convert sales dollars into profits and cash flow. For example, the return-on-investment ratio, which is the ratio of net income to shareholders’ equity, indicates a company’s ability to generate a return for its owners. Examples of ratio formula: Example 1: Gross margin ratio Gross Margin = Gross Profit Revenue Gross profit and revenue figures are obtained from the income statement of a business. Alternatively, gross profit can be calculated by subtracting cost of goods sold from revenue. Thus gross margin formula may be restated as: Gross Margin = Revenue − Cost of Goods Sold Revenue Example 2: Operating margin ratio Operating income is same as earnings before interest and tax. Operating income and revenue figures is available from the income statement of a company. Operating Margin = Operating Income Revenue QUESTION 2 a) There are five different categories of financial ratios. They are: i) Liquidity ratio is used to measurecompany’s ability to pay its short-term debt obligations. As such, they focus on the firm’s current assets and current liabilities on the balance sheet.The most common liquidity ratios used is the current ratio mainly to give an idea of the company’s ability to pay back its short-term liabilities such as debt and payables with its short-term assets such as cash, inventory and receivables. ii) Debt ratio is used to measure company’s ability to meet its long-term debt obligations. The ratio indicates what proportion of debt a company has relative to its assets. The measure gives an idea to the leverage of the company along with the potential risks the company faces in terms of its debt-load. iii) Financial leverage ratio measure the extent to which a business or investor is using the borrowed money. A company having high leverage is considered to be at risk of bankruptcy in the event the company is unable to repay the debts. The most common financial leverage ratio is the debt-to-equity ratio calculated as total debt divided by shareholders equity iv) Asset efficiency or turnover ratios measure the efficiency a company uses its assets to produce sales. The most common asset efficiency ratios are the inventory turnover ratio, the receivables turnover ratio, the days’ sales in inventory ratio, the days’ sales in receivables ratio, the net working capital ratio, the fixed asset turnover ratio, and the total asset turnover ratio. v) The profitability ratios measure the company’s ability to generate a profit and an adequate return on assets and equity. The ratios measure how efficiently the firm uses its assets and how effectively it manages its operations. An example is the Net profit margin ratio is a ratio of profitability calculated as after-tax net income (net profits) divided by sales (revenue). It shows the amount of each sales dollar left over after all expenses have been paid. Limitations of financial ratios i) Although financial ratios can be effective tools for gauging financial performance and managerial effectiveness, they rarely provide answers. Ratios will not say why something is going wrong and what to do about a particular situation; they only pinpoint where a problem is. ii) There is no international standards on the use of financial ratios. Limitation of ratios interpretation emerges when a particular set of ratios of a company is compared to other company or business. For example, for calculating the inventory turnover one company may use the cost of goods sold as the numerator, while another may use its sales figures. A company may use the operating profit to calculate its total assets turnover, while another may use the net income after taxes. iii) Benchmark for assessing company’s financial position is needed. Different operating methodologies may be employed to run a company may render the comparison of financial ratios irrelevant. Example, a company prefers to lease most of its assets while another company may own them. Thus, some of the ratios, such as debt to total assets, fixed-charge coverage, total assets turnover, and return on total assets, would be unrelated. iv) The inflation factor can make the ratio of a particular company look good or bad. Inventory turnover may have deteriorated over a three-year period; the problem may not due to the increase in physical inventory, but rather, to increase in the cost of the goods. b) Effect of an increase in a company’s debt ratio to its return on equity. An increase on debt-ratio will be increase in the return of equity. If a company finances itself through debt, the creditors shoulder the risk. If the debt results in increased earnings, the return on shareholder investment is exponential. Total liabilities include both the current and non-current liabilities. The formula to calculate the debt ratio is: Debt Ratio = Total Liabilities Total Assets Return on Equity is expressed as a percentage and calculated as: ROE = Net Income/Common Equity c) Long-term interest rate = (RM13,000,000) (8/100) = RM1,040,000 Short-term interest rate = RM1,300,000 – RM1,040,000 = RM260,000 Short-term interest rate = RM260,000/RM1,546,000 = 0.168 Rate of interest on notes payable is 16.8% d) Changes in value of equity (in millions) (RM in millions) Shareholders’ beginning equity 537 Shareholders’ ending equity 485 Difference beginning & ending equity 52 Net income 128 Less: Paid dividends 57 Difference 71 Stock/shares purchased in the year (52+71) 123 Shares purchased throughout the year is RM123 million e) If the current ratio of corporation is 5.65 when industry average is 1.42, this disparity means that the corporation is having: i) an excess build-up in inventory. When the corporation holds a high level of inventory, it ties up business funds that could have been used in other areas such as in development or marketing. The cost of the inventory is not recovered by the corporation until it sells the inventory. ii) aged account receivables which is the amounts owed to the company by its customers. The corporation’s account receivables reports will identify problems with receivables management process and identify accounts that require collection action. QUESTION 3 a) Although ownership of stock represents ownership in a company, not all stock is created equal. Therefore there are two basic types of stock: common stock and preferred stock. Preferred stock is sometimes referred to as a hybrid security because it has features of common stocks and bonds. A company’s preferred stock trades independently of its common stock and offers preferred stockholders a different set of benefits. Preferred stocks paid amount of dividends just as fixed interest bond. It is not debt but equity like common stocks. b) Preferred stock par value of RM100 with annual dividend 10%. Annual rate of return is 11.5%. i) RM100 X10/100% = RM10. Yield of 11.5% 11.5%/100 = 0.115 = RM86.96 ii) As the risk-free rate increases, the required rate of return will increase and the price will drop. When rates increase, the price of the preferred stock will likely fall. If price falls, the issuer will likely call the preferred stock and replace it with a new preferred stock issue at a lower rate, conventional debt, or perhaps even common stock c) RM4.63(1+0.05)/(0.12-0.05) = 4.8615/0.07 = 69.46 The value of the company’s stock if the required rate of return is 12% is RM69.46 d) Before change in price per share, r =5% + (8% -5%) beta 1.3 = 8.9% After change in price per share, r = 4% + (10% – 4%) 1.5 = 13% Therefore, the change in price per share is RM4.87 e) Formula for constant growth is rs = r RE + (rm – rRE)b = 6% + 5% (1.4) = 13% 2013 = RM0 dividen 2015 = RM1.00 2016 = RM1.00 (1.2) = RM1.20 2017 = RM1.00 RM1.44 2018 = RM1.00 RM1.728 2019 = RM1.00 RM1.849 Calculate growth between constant rate = The price of the stock is RM20.16 QUESTION 4 a) Needs RM40,000/year during retirement period n = 10 yrs, i = 9 % PVA = PMT (PVIFA) = RM40,000 (9.129) = RM365,160 PV = RM365,160 (0.422) = RM154,097.52 The Mirians should deposit RM154,097.52 b) Model A: PV = PMT (PVIFA) = RM5,000 (3.993) = RM19,965 Model B: Year Payment (RM) PVIF PV 1 7,000 0.926 6,482 2 6,000 0.857 5,142 3 5,000 0.794 3,970 4 4,000 0.735 2,940 5 3,000 0.681 2,043 Total: 20,577 I would purchase/buy model A because it is cheaper by RM612 compared to model B. c) Which option to be chosen? Option 1 PMT = RM3,500/2.487 = RM1,407,318.05 Option 2 PMT = RM3,500/3.102 = RM1,128,304.32 Option 3 PMT = RM3,500/3.605 = RM970,873.79 The company should choose option 3 because lower by RM157,430.53 compared to option 2 which is second lowest d) Present value is exact invest of the compound interest calculations. Applying compound interest calculation is to find the future value of a present amount. Using the present value calculation a present value amount is found to be received in future. e) Over certain period the principle amount increases as a result of the installment payments resulting in lower amount of interest that is charged by the bank. QUESTION 5 a) When an investor buys a bond, the investor is lending money to the bond issuer, which could be a government, corporation, etc. The issuer promises to pay a specified rate of interest during the life of the bond and to repay the principal, also known as face value or par value of the bond, when it â€Å"matures,† or comes due after a set period of time. Thus bonds provide interest payment and principal payment. Payment of interest is done annually or semi-annually. Coupon payments are paid periodically. When bond matures a principal sum is paid which is a lump sum payment. b) Bond prices and interest rates are related. Interest rates and bond prices have â€Å"inverse relationship†, when one goes up, the other goes down. If interest rates is high enough, bond prices would fall. If interest rates is low, bond prices would rise. Prices of short-term bonds do not fluctuate  more often compared to long-term bond. Premium bond is sold when the stated rate of interests exceed the required rate of return. Example, if rates dropped to below original coupon rate of 7% for RM1,000 bond, it would be priced at a premium since it would be carrying a higher interest rate than what was currently available in the market. A bond will sell at a discount when the stated rate of interest is less than the required return. Bond is sold equal to the par value when the stated rate of interest is equal to the required return. c) Param does not have enough money to buy 10 bonds if the required rate of return is 9%. This is because the required rate of return which is 9% is less than the coupon rate of the bond which is 10%. The price of the bond is greater than the par value of RM1,000. Considering there are 10 bonds, the total price is greater than RM10,000. That is the reason why Param would not have enough money to buy the 10 bonds. d) FV = RM1,000 PMT =150 N = 10 PV = RM1,250 1/YR = 10.79% e) Interest rate risk is the risk of decline in bond values due to the increase in interest whereas reinvestment risk is the risk of an income decline due to a drop in interest rates. Bond holders who bought long-term bond is greatly at risk to the interest rate risk. QUESTION 6 a) [(RM18+RM4+RM3+RM2-RM24)/24] X 100% = 12.5%. Therefore, Billie jean’s realized rate of return during the three years holding period is 12.5% b) (i) Stock 1 8 + 0.8 (12 – 8) = 11.2% Stock 2 8 + 1.2 (12 – 8) = 12.8% Stock 3 8 + 0.6 (12 – 8) = 10.4% (ii) Stock 3 is undervalued due since E (R) ≠¥ RR c) Beta is the measurement for market risk which is non-diversifiable. The risk must be dealt with by the portfolio manager. Diversifiable risk should be diversified away by portfolio manager so that it would not pose a problem to the investment. As such all market risks is all relevant to the portfolio manager since it is his job and responsibility in balancing the likely risk and return. d) The situation suggest that investors are more risk adverse compared to before the shift taking place. On the portfolio, a risk premium of 11% (16% – 5%) is required whereas previously 10% (15% – 5%). If slope were to change downward, it means investors are less aversion to risk. e) Expected return: 0.9(12%) + 0.1 (20%) = 12.8% Beta: 0.9(1.2) + 0.1(2.0) = 1.28%