Thursday, December 26, 2019

Virginia Woolf a figure of Anglo-Saxon modernism - Free Essay Example

Sample details Pages: 1 Words: 343 Downloads: 2 Date added: 2019/08/02 Category People Essay Level High school Tags: Virginia Woolf Essay Did you like this example? Virginia Woolf is one of the most relevant figures of Anglo-Saxon modernism and a feminist voice of the first half of 1900. Although the British writer is still recognized as one of the most influential writers of the 20th century. Her works include the novels ‘Mrs. Don’t waste time! Our writers will create an original "Virginia Woolf a figure of Anglo-Saxon modernism" essay for you Create order Dalloway’ (1925) and ‘Al Faro’ (1927), as well as numerous essays in which she investigate the role of women in modern society. Her life was marked by depression and bipolar disorder, which led her to commit suicide in 1941 when she was 56 years old. As a child, she and her sister Vanessa suffered repeated sexual abuse from their half-brothers. Her mother died when he was 13 years old and from there, she began to develop his sudden mood swings. In 1908 and after publishing articles and reviews for various newspapers of London, Woolf made her first literary work with the play ‘Melymbrosia’. She wrote her first novel at the age of 35, was called ‘The Voyage Out’, a work that a lot of people believe it was a premonition regarding the death of the writer herself. ‘In Night and Day’ (1919) the writer analyzes the society in which she lived, where modernity was in conflict with the traditional role of women; so, it began to have transformations in England. She was married with the economist and historian, Leonard Woolf, but Virginia get tired of him, so she had a relationship with the also writer Vita Sackville-West, who was her muse for Orlando, her 1928 novel. On April 28, 1942, Virginia Woolf made the decision to commit suicide. She filled her pockets with a lot of stones and threw herself into the Ouse River. The depression and the fear of something happening with her husband, who was Jewish, in the context of the Second World War, led her to end her life. The writer left a letter to Leonard and another to her sister Vanessa, as does the protagonist of ‘The Voyage Out’. Virginia Woolf wrote 8 novels and more than 30 essays and analyses of other genres where the autobiographical narrative and the analysis to the London society always reigned.

Wednesday, December 18, 2019

Socrates - 1099 Words

Socrates the Greek Philosopher December 14, 2014 PHI/105 In the beautiful city of Athens, Greece, there was a philosopher Socrates, and his Socratic method, was laid on the groundwork for the Western systems of logic and philosophy. Socrates did believe that he didnt know anything, and It was because of this that the Oracle told Socrates that he was wise and that he should seek out the wise men to hear what they had to say. So Socrates began to travel to different parts of Greece to question the suppose wise’ men to see if they really knew all the answers to life. The youth laid their eyes on Socrates since he possessed a different way of thinking and living. His unique method of questioning and insulting was believed that he†¦show more content†¦In which, this gaining knowledge also made Socrates struggle; how can oneself can gain knowledge and when? In the Crito, Socrates stated that a person should obey the contract of the Laws of Athens. He metaphorically said that the Laws of Athens and the citizens were all parents an d children. If a child breaks the law, it is like he is disrespecting his parents. If a person wants to live a â€Å"good life† then one has to obey the laws. Socrates, as a Greek Philosopher, mentioned that the politics were not for philosophers. He believed that once a philosopher enters politics, they could easily be torn and killed. If one thinks different than others, one is putting themselves to death. Socrates wanted to be an individual roaming around the cities. The politic life was not meant for him, and he did not want to get all mixed up or thrown around. He simply wanted to bring issues up to one person at a time. In my opinion, a philosopher like Socrates would probably put himself more in more danger if he were to be put in politics. Politics is a waste of time, and Socrates wanted answers, so he talked to the people directly. Socrates also believed that if a person who enters politics, would have to get along with others and either have to try or force themselv es to agree with one another; which he did not want to lie to himself for the sake of others. Socrates did not give up on philosophy. He pursued as if it was his destiny to show theShow MoreRelatedSocrates : The Suicide Of Socrates1405 Words   |  6 PagesSocrates was born in 470 BCE in Athens, Greece. His father was Sophroniscus, a sculptor and stone mason from Athens and his mother was a midwife by the name of Phaenarete (30 Interesting Socrates Facts 2014). Socrates original profession was masonry and sculpting, before becoming a philosopher. On a day in 399 BC, Socrates ( roughly 71 years at the time) went to trial.Now why would anyone want to send an old man to court? Three answer is that Socrates was accused of refusing to recognize theRead MoreSocrates And The Apology Of Socrates1322 Words   |  6 Pages Socrates is quite the unique individual compared to most, if not all, other Greeks at that time. In the Apology, Socrates gives an analogy of himself being a gadfly and that his gadfly like actions are favorable for Athens and that the actions are goods he is providing. From his service he claims to live a more private life than a public life when discussing virtue. This paper is going to discuss Socrates and his analogy of a gadfly, approach to others about virtue, his conduct effect on democracyRead MoreSocrates As A Martyr And Socrates927 Words   |  4 PagesIn philosophy class this semester we spoke a lot about Socrates and his trial. We were required to read the dialogue ‘Apology’ by Plato. The à ¢â‚¬ËœApology’ Dialogue is what Plato recorded during the speech Socrates gave to the court defending himself against the charges of corrupting the young, and by not believing in the gods in whom the city believes† these two were the main charges, but underneath that there were also other significant charges such as being considered an antidemocratic or pro-SpartanRead MoreSocrates : The Problem With Socrates908 Words   |  4 PagesThe Problem With Socrates: The problem with Socrates concerns the problem with the role of value and reason. Nietzsche believes that the bulk of philosophers claim that life is a corrupt grievance for mankind. Nietzsche reasoned that these life deniers were decadents of Hellenism, as a symptom of some underlying melancholy. For someone to paint life in such a negative light they must have suffered a great deal through the course of their own life. Furthermore, these no-sayers agreed in various physiologicalRead MoreSocrates Worldview Of Socrates1855 Words   |  8 PagesPart 1: Socrates’ Worldview Socrates is a widely renowned teacher, who has taught and demonstrated a variety of lessons that regard how he views the world. Socrates has described his view on morality, purpose, death, and the ultimate. He has spoken about these views through multiple texts including The Last Days of Socrates and they have been interpreted through the text Socrates by George Rudebusch. Through these worldviews, Socrates has given people the opportunity to expand their wisdom andRead MoreSocrates1461 Words   |  6 PagesSocrates was one of the greatest Greek philosophers. His work was not to propose any specific knowledge or policy: it was to show how argument, debate, and discussion could help men to understand difficult issues. Most of the issues he dealt with were only political on the surface. Underneath, they were moral questions about how life should be lived. Such is the influence of Socrates that philosophers before him are called the Presocratic philosophers. Socrates made enemies, three of whom broughtRead MoreSocrates659 Words   |  3 PagesSocrates Socrates was accused of many things in the Athens market. Socrates was accused of being a man who makes the worse argument into the stronger argument. A man who knows about the heavens and earth and therefore any one who believe this must not believe in the gods. Socrates was accused of being an atheist. Most of the people that followed him around his quest were inquisitive. Where as most adults would walk by Socrates with his â€Å"annoying question† the youth stopped to see what heRead MoreSocrates : A Man By The Name Of Socrates963 Words   |  4 PagesIn 469 B.C. a man by the name of Socrates was born. Socrates was a very wise man that cared about doing the right thing. He believed that the best ways to develop ideas was in the give and take of conversation, and that the best way to educate people was to ask them a series of questions leading in a particular direction (now named â€Å"Socrates method). Socrates had been quick to identify the drawbacks of democracy, and he had also been the teacher of two men who in different ways harmed Athens: AlcibiadesRead MoreSocrates s Views On Socrates1314 Words   |  6 PagesSocrates could undeniably be described as one of the most influential philosophers and greatest thinker of his time. His views can be interpreted many different ways, but most would agree that he sought out wisdom and truth for the betterment of himself and his community. Though Socrates was one of the most intelligent men of his time, he was very foolish to never write his own book. For this reason, after his passing, one of his students, Plato, began to write a book about his teachings and ideasRead MorePlato s Ion, Socrates, And Socrates855 Words   |  4 PagesIn Plato’s Ion, Socrates tries to prove that all poets are ignorant. He did not leave out himself, as a matter of fact, what separated Socrates from the others is the fact that he knew he was ignorant. In Socrates conversation with Ion- the rhapsode, he was able to prove that Ion is ignorant by asking him about Homer and another poet who spoke about the same topic, Ion was able to speak up about the questions on Homer, but not that of the other poet, even though they both spoke about the same content

Tuesday, December 10, 2019

Human Resource Management Structures and Perception

Question: Discuss about the Human Resource Management for Structures and Perception. Answer: Introduction Based on the case study it is inferred that the issue on being absent from work has been a crucial for many firms in the business world. According to Macdonald Asanati (2016), the aspect of absence from work tends to depend on the psychographic and behavioral feature of an individual. It is noted that assigning a definition to the topic has been a debatable issue for experts. Despite of a thorough study of the concern, the subject has not progressed beyond descriptive levels. Further, considering absence from work as a dysfunctional matter of purpose has not only attended a one sided describing of the topic, but also tend towards a managerial concept that further defends subordination and ideology. Also, being absent from work depends on an employee`s perception and commitment towards his work. In the modern world, the topic receives an increased amount of attention from the managerial viewpoint as compared to the others. It is noted that the management of a company identifies absent to be a deviant behavior and thereby a root to problems. On the other hand, it is often that the managers tend to blame a workers motivation, engagement and laziness levels to be the reason for being absent from work. Further, a proper tracking of the staff is also important to check on the performance levels of a firm. Moreover, as per the case study Lenz tends to describe the topic in a much wider sense and also differentiate among its types. It is noted that the concern is referred to as the spare time or informal communication levels at a workplace (Wynne-Jones et al., 2014). Issue Analysis and Answers The study of absence provides highlights the differences between payment structures and their perception towards Glactel. According to Edwards and Scullion, there exists a difference between fully employed and hourly paid workers in an organization (Barmby Sessions Zangelidis, 2013). It is noted that with a difference in salary payment there also exists a completely dissimilar absence pattern of the two groups. Being paid on a monthly basis, administrative and clerical employees are more dedicated to their work and hence there exists a low degree of nonattendance. While on the contrary, employees paid on an hourly basis and being appointed from a particular job have a different perception towards their work. Not only do they care less about their day`s pay but also seeks to suit themselves in being absent from the workplace. Further, being confided by the ethical, moral, and legal obligations the salaried employees tend to be more responsible and efficient. Furthermore, in cases of presumptions about staff absent not affecting performance levels of a firm it is noticed that there lays a gap in the data tracking and collection. Also, the vicious circle tends to directly affect performance degree at a workplace. As stated by Mohamed Ali (2015), several characteristics like salary differentiation, status gaps, attitude and involvement pitfalls are the reasons behind discrimination in absent levels. Additionally, Edward and Scullion also highlights the factor of unrecorded absenteeism through a informal rota for time-off periods in keeping the degree of absent low in an enterprise. As per the case study, the self certification for sickness by employees for short period of sickness has had a direct impact on Glactel. Among the several types of absentees, taking for sick leave has been a great concern for the human resource management in the firm. In addition to a ensuring a pay scheme for the period, the company also concentrates on ensuring generosity towards the workers. It is noted that self certification method in the recent times no longer requires a doctor`s note for taking a leave from office (Ramsarup, 2015).. Concerning notification, the sick call line has been of great use to the firm as well. Furthermore, approval of the self citification by a team head provides the sick with a full payment of salary even in the period of nonappearance. As compared to other reasons for leave, the management tends has a greater acceptance for certification of sick leaves. In addition to the excess planning and controlling measures, the absence from work also concerns a proper management of the human resource department of Glactel. It was noticed that the management tend to diversify the work of the absentee and assign it to the other present employees. Additionally, supervisors also tend to emphasize the need for overtime and administer opportunities at the workplace. According to Hewett (2016), the management of Glactel tends to analysis the absent pattern in the company. In addition to the fully employed workers, the analysis also studies behavior of the hourly paid employees. It is noted that there was a steady increment of 10% in the year 1992 1993. Further, it is noted that there has been a downturn in 1994 after a constant increase over the previous time period. With an increase in absenting levels, the Senior Personnel Manager personally tends to restore situations and thereby improve the work environment. It is noted that a lax in control levels helped to develop absenting rates. Despite of a period of flu and health degrading issues, a purge in the organization tend to enhance conditions. An analysis helped in understanding the interdependency of absence levels on the degree of importance given to the concept. Further, a consideration of reorganization and epidemic was also highlighted by the management of the firm to analyze its impact on the variables. An understanding of the reactivity levels also led the supervisors of Glactel to pay more attention to absenting rates rather than depending on permanent control method. Moreover, it is inferred that an increase in attention rates consequently lead absenteeism to be considered as an important issue which thereby helped in lowering absenting percentages. The most basic way in which purge helped in developing conditions is by setting examples to the other employees of the organization. Additionally, the rates of absent tend to reflect a downward fall when being considered as a vital issue (Steger, Dik Duffy, 2012). Based on the case of Glactel, there often are situations where there exist a low number of employees as compared the shop-floor presence. The management of the firm often considers the low levels of motivation, morale and commitment to be one of the most impacting reasons for low attendance at the workplace. Additionally, the unexciting work and a pressure of absence culture also are crucial reasons behind affecting the attitude and perception of employees. It is noted that increased levels of sickness often raises questions about authenticity (Reb, Narayanan Ho, 2015). While, on the other hand the aspect of overtime raised a three level effect on the enterprise. It was noted people working on extra time basis looked for time off on weekdays rather weekends. Also, the employees seek for sick leaves at times of illness and use absence to share out the extra working period during shifts. Concerning hourly paid workers, sickness, boredom, people skiving, holiday entitlement, lower morale, illness, family issues, oversleeping, drinking reasons and poor active levels tend to be the most impacting absenting reasons (Shaughnessy, 2016). While on the contrary, the fully employed and salaried employees have a completely different approach towards being absent from work. Moreover, factors like work related issues, communication problems, and sometimes a combination of two or more problems together often tend to decrease efficiency rates. As per the case study, it is understood that there lays a difference between the perception of senior managers as compared to those of the department supervisors in Glactel. As opined by Airo Nenonen (2014), it is noted that the company has also recruited an entirely new level of authority that greatly takes the aspect of absenteeism into consideration. Additionally, the fair system of lax management also greatly helps in developing conditions in the business. Being divided into different departments, there was a behavioral segregation that not only had a impact on performance, motivation and communication levels, but also noticeably affects perception levels of a leads and managers. Recommendation Analyzing the case study, it is inferred that the pattern of absenteeism can be managed at Glactel in a number of ways. There are several recommendations that can be made based on the current situation of the organization. Moreover, proper controlling, managing and coordination with each other will develop business conditions (Salvendy, 2012). It is noted that a clear setting and understanding of attendance rules will benefit the firm in a better way by decreasing nonattendance rates. Further, the presence of a rigid policy concerning the issue will also benefit Glactel. With a proper set and description of the policy, there will be a downfall in discrimination and favoritism which will ultimately help in regaining absenting levels. Additionally, a clear and transparent interpersonal communication among the organization will ensure a higher level of involvement of the public. According to Barak (2013), a fair comprehension of the firm`s objectives might also develop conditions. Also, the introduction of non-work obligations, unplanned leaves and paid time-off will help in lowering nonattendance rates in Glactel. Further, internal stakeholder programs, work and individual engagement might also contribute towards increasing the total number of people. Pre scheduling of tasks, company`s mission and vision statement definition and reward system also tend to ensure a proper attendance level in the workplace. References Airo, K., Nenonen, S. (2014). Review of linguistic approach in the workplace management research.Facilities,32(1/2), 27-45. Barak, M. E. M. (2013).Managing diversity: Toward a globally inclusive workplace. Sage Publications. Barmby, T., Sessions, J. G., Zangelidis, A. (2013). Looking After Number Two? Competition, Cooperation and Workplace Interaction. Hewett, S. (2016).Engagement and interaction in blended workplace learning: A case study(Doctoral dissertation, Queensland University of Technology). Macdonald, E. B., Asanati, K. (2016). Absence from work.Contemporary Social Science,11(1), 30-39. Mohamed, A., Ali, A. (2015). Absence without official leave (AWOL).Industrial Law Reports,1, xvii-xxvii. OShaughnessy, E. (2016). The absent object*.Journal of Child Psychotherapy, 1-9. Ramsarup, P. (2015). 7 Absenting the absence of parallel learning pathways for intermediate skills.Critical Realism, Environmental Learning and Social-Ecological Change, 116. Reb, J., Narayanan, J., Ho, Z. W. (2015). Mindfulness at work: Antecedents and consequences of employee awareness and absent-mindedness.Mindfulness,6(1), 111-122. Salvendy, G. (2012).Handbook of human factors and ergonomics. John Wiley Sons. Steger, M. F., Dik, B. J., Duffy, R. D. (2012). Measuring meaningful work: The work and meaning inventory (WAMI).Journal of Career Assessment, 1069072711436160. Wynne-Jones, G., Cowen, J., Jordan, J. L., Uthman, O., Main, C. J., Glozier, N., van der Windt, D. (2014). Absence from work and return to work in people with back pain: a systematic review and meta-analysis.Occupational and environmental medicine,71(6), 448-456.

Monday, December 2, 2019

Organization Culture Orange PLC Company

Introduction Orange PLC Company is one of the most profitable international companies in the global business arena. The company has its headquarters in New York. The New York branch has 250 employees in the three departments of production, marketing, and human resource management.Advertising We will write a custom research paper sample on Organization Culture: Orange PLC Company specifically for you for only $16.05 $11/page Learn More In order to survive and control a sizable share of the global PC industry, Orange PLC Company has endeavored to remain competitive through its unique organizational culture. Thus, this reflective treatise attempts to explicitly review the organizational culture of the Orange PLC Company. Orange PLC’s Organization Culture Organizational culture is a manner in which people in a company operate on daily activities unconsciously and consciously. Through creation of a unique organizational culture, the Orange PLC institut ion has been able to offer supports programs within its workforce to accomplish the strategic objectives of business sustainability. Observable artifacts The physical structure of the Orange PLC’s organization culture promotes positive relationships between favorable and effective job performance within a friendly work environment as attributes of motivation and congenial conditions. The structure encourages security, comfort, safety, and prevailing physical convenience (Baack, 2009). Measuring factors such as interpersonal relations, working conditions, support and trust, welfare provisions, and work environment have greatly contributed to the organizational effectiveness as well as employees’ behaviors at the Orange PLC. Enacted values The Orange PLC Company has identified that the key driver of productivity is employees’ morale. Through the motivational strategies, the employees are very productive, creative and more interested in their work commitments. The satisfied workers are eager to create positive results in their work. This element has been embedded in the company’s unity of purpose symbol designed to create the culture of efficiency and support among the employees. The employees are very proactive and approachable (Baack, 2009). With the need to establish a proactive organizational culture, the Orange PLC Company has developed a discursive approach in explaining and exploring shared and coordinated actions on roles and channels through which organizational framework functions in the exchange of information.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is of great essence towards understanding its organizational communication. Employees are also allowed to contribute their viewpoints regarding the daily management and operations of the organization. In order for the productivity quotient to become an effective to ol, the company has made sure that workers and the management team understand the collective responsibility perspective of the institution (Flamholtz and Randle, 2011). Espoused values The company has three building blocks of learning, a supportive learning environment, concrete learning process, and practice leadership, which reinforce innovation. The managers play a significant role in setting up the learning environment for the employees. This culture has created an ideal climate for innovation and communication among the employees. This culture is meant to create an ideal climate for innovation and communication in line of duty. The company’s team work culture spells the rules of engagement, expected behavior, and repercussions for misconduct. These rules appreciate diversity and uphold integrity in judgment as enshrined in the company’s vision and mission statement. In the process, diversity is viewed as a positive identity within the organization (Ferrell, Fraedr ich, Ferrell, 2011). Conclusion The Orange PLC Company’s organizational culture is very friendly, dynamic, and proactive. The employees are motivated and made to feel part of this structure. As a result, they always strive to give their best towards the organization and uphold the existing culture. References Baack, D. (2009). Organizational behavior (2nd ed.). Texas, TX: Pearson Prentice Hall. Ferrell, O., Fraedrich, J., Ferrell, L. (2011). Business ethics: ethical decision making and cases (9th ed.). New York, NY: Cangage Learning. Flamholtz, E., Randle, Y. (2011). Corporate culture: the ultimate strategic asset. Stanford, UK: Stanford business Books.Advertising We will write a custom research paper sample on Organization Culture: Orange PLC Company specifically for you for only $16.05 $11/page Learn More This research paper on Organization Culture: Orange PLC Company was written and submitted by user Jul1us to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Wednesday, November 27, 2019

Comparing Four Countries essays

Comparing Four Countries essays An established democracy has two main parts. They need to have free and fair elections and they should also have equal voting rights. When free and fair elections occur it means the absence of barriers to the full participation of all citizens, without any form of discrimination; the absence of any form of intimidation (What is a free and fair election). The term equal voting rights means to be able to have equal access to the voting process. Based on free and fair elections and equal voting rights, the following nations are ranked; one being the best and four being the worst; Germany, South Africa, Colombia and Saudi Arabia. Germany is an established democracy because they have elections every for years for the person they want to run the country. But at the same time the citizens also have to vote for the party they want to run the region. To be able vote in Germany that person has to eighteen years old and they have to at least live in Germany for three months (German Culture). Germany also is an established democracy because they show traits of equal voting rights. For example, when someone is done voting they put their ballot in an envelope and put it in the box (Voting in Germany). This means that there is not someone with a gun, threatening you to vote for someone they do not want to. Another example of how Germany shows equal voting rights is if that person cannot vote on their day then they would vote by proxy. If a citizen is an absentee voter, they have to have the following problems: professional reasons, illness or advanced age or disability or other physical condition which would prevent t he voter from getting to the polling station, or if a person moves out of the area immediately prior to the election and there is not enough time to re-register on the electoral roll at the new voting office (Voting in Germany). South Africa is another example of an established democracy because as like Germany they ho...

Saturday, November 23, 2019

All About Chinese Wedding Flowers

All About Chinese Wedding Flowers Chinese wedding flowers are used mostly as a decoration on tables at Chinese weddings and large bouquets of colorful flowers (typically pink and red) are often given to the bride and groom as gifts. These elaborate bouquets usually line the hall leading to the wedding reception. Some brides opt to carry a small bouquet though this is usually just for wedding photos. Lilies are popular Chinese wedding flowers because the word lily (ç™ ¾Ã¥ Ë†, bÇŽi hà ©) sounds like the ç™ ¾Ã¥ Ë† ( bÇŽi hà ©) part of the proverb ç™ ¾Ã¥ ¹ ´Ã¥ ¥ ½Ã¥ Ë† (BÇŽinin hÇŽo hà ©, happy union for one hundred years). The flower also represents bringer of sons. Orchids are another popular Chinese wedding flower. Orchids symbolize love and a married couple. Orchids also represent wealth and fortune. The lotus is also a popular Chinese wedding flower. A lotus bloom with a leaf and bud symbolizes a complete union. Two lotus blooms or a lotus and a blossom on one stem represent a wish for shared heart and harmony because è  · (hà ©) means union.

Thursday, November 21, 2019

MRI Essay Example | Topics and Well Written Essays - 2000 words

MRI - Essay Example Slice thickness, is one important parameter, which divides the body part being examined into sections of varying width or thickness. The result of examination depends on the slice thickness. If it happens to be a minute problem, then the slice thickness will be small, because a larger slice thickness might result in erasing small lesions or pathologies. MRI is mainly used to look into the brain and the nervous system of human body to figure out the inconsistencies using the functional magnetic resonance imaging, as these parts happen to be the most delicate parts of human body. Prasad (2005, 292) states that the 'MR images are in effect computer generated visual reconfigurations of physical data such as the relaxation times of hydrogen atoms that are found abundantly in the body.' More than two third of our body is made up of hydrogen atoms. Hydrogen exists in different forms in our body. For example water (H2O), consisting of two H atoms and one O, makes up about 70 percent of human body. In addition Hydrogen atoms are also present in the tissues and fat present in human body. When magnetic energy is sent into our body using radio frequencies, the hydrogen atoms absorb the magnetic rays and send out the same magnetic energy, depending upon the extent of magnetisation. As the nuclei of the hydrogen atoms happen to be in the form of small magnets, so when the magnetic fields change in their surroundings, they respond accordingly. This movement is recorded by the MRI equipment which in turn is analysed by the healthcare professionals to decipher the exact composition. As the experiments started off with an emphasis on nucleus, in early days MRI was known as Nuclear Magnetic Resonance (NMR). Since the process itself is stated to involve very small amount of energy, the normal biochemistry of human body is not affected. The key requirements for performing an MRI include; A strong magnetic field through the primary magnet, emanating out of the a magnetic which could be a permanent, resistive or a superconductive Gradient magnets for fine tuning the magnetic fields The scanning table on which the patient is allowed to lie Attached computers and film for taking the printout of the scan The individual who is to undergo MR imaging is allowed to comfortably lie on a sliding table. The table is then slid into a cylindrical structure which is surrounded by the magnets. Once everything is in position, the magnetic field is turned on; this creates a 2-dimensional image of the particular body part of the person on the computer screens. A coil is placed around the body part/ object which is under observation for MRI, exclusively to pick up the signals for the image. Well, just to make things easier a talk-back system is also in put in place so that after the start of clinging sound the patient doesn't feel uncomfortable, and if required he can communicate with the radiologist. The procedure may last for about 25-50 minutes depending upon the requirements and the complexity of the patient condition. There are in general two to six imaging sequences, each lasting for about 10-15 minutes. Since the process involves magnetic fields, it is therefore advised that anybody having m etallic implants in their bodies must inform the radiologist beforehand, so that adequate

Tuesday, November 19, 2019

GE's Two Decade Transformation Case Study Example | Topics and Well Written Essays - 250 words

GE's Two Decade Transformation - Case Study Example 2. What is Welch’s purpose in the series of initiatives he launched in the late 1980s and early 1990s? What is he trying to achieve in the round of changes he put in motion in that period? Is there a logic or rationale supporting the change process? Welch’s main purpose in the series of initiatives he launched was to ensure that in the next decade, GE would be a number one or number two competitor in the industry (Bartlett 1). This would make GE a unique, highly spirited, and an entrepreneurial enterprise in addition to being profitable, diverse, and with quality leadership and products of their own kind in the world. In the round of changes he puts in motion in that period, he wanted to achieve a productive business with individuals who were focused in implementing change for the success in the business. Ideally, making such a change is logical considering the situation in which the business environment was in. Welch realized that the business had so many who never added value to the business and therefore, went for the restructuring process have a lean and efficient workforce. In order to grow profitably, it is essential that one reduce the expenses or production costs. It is by the same perspective that Welch uses to grow GE profitably despite the critics. He did this through downsizing, destaffing, and delayering to have a lean and effective employee base (Bartlett 3). Indeed the initiatives employed by Welch added substantive value to the business as the business was able to grow its operation profits from $1.6 billion to $2.4 billion and revenues from $27.1 billion to $29.2 billion within four years (1981-1985) (Bartlett 3). Considering Welch’s approach to leading change, I believe it is one of the most efficient approaches as he is able to reduce costs of production and increasing the revenue and profit

Sunday, November 17, 2019

Hersheys Chocolate Essay Example for Free

Hersheys Chocolate Essay Hershey’s company originated with candy-manufacturer Milton Hershey’s decision in 1894 to produce sweet chocolate as a coating for his caramels. Located in Lancaster, Pennsylvania, the new enterprise was named the Hershey Chocolate Company. In 1900, the company began producing milk chocolate in bars, wafers and other shapes. With mass production, Hershey was able to lower the per-unit cost and make milk chocolate, once a luxury item for the wealthy, affordable to all. A company on the move. The immediate success of Hershey’s low-cost, high-quality milk chocolate soon caused the company’s owner to consider increasing his production facilities. He decided to build a new chocolate factory amid the gently rolling farmland of south-central Pennsylvania in Derry Township, where he had been born. Close to the ports of New York and Philadelphia that supplied the imported sugar and cocoa beans needed, surrounded by dairy farms that provided the milk required, and the location was perfect. By the summer of 1905, the new factory was turning out delicious milk chocolate. New products, hard times. Throughout the next two decades, even more products were added to the company’s offerings. These included MR. GOODBAR Candy Bar (1925), HERSHEY’S Syrup (1926), HERSHEYS chocolate chips (1928) and the KRACKEL bar (1938). Despite the Great Depression of the 1930s, these products helped the newly incorporated Hershey Chocolate Corporation maintain its profitability and avoid any worker layoffs. HERSHEY’S chocolate goes to war. With the outbreak of World War II, the Hershey Chocolate Corp. (which had provided milk chocolate bars to American doughboys in the first war) was already geared up to start producing a survival ration bar for military use. By the end of the war, more than a billion Ration D bars had been produced and the company had earned no less than five Army-Navy â€Å"E† Production Awards for its exceptional contributions to the war effort. In fact, the company’s machine shop even turned out parts for the Navy’s antiaircraft guns. A family friend becomes a family member. The postwar period saw the introduction of a host of new products and the acquisition of an old one. Since 1928, H.B. â€Å"Harry† Reese’s Candy Company, also located in Hershey, had been making chocolate-covered peanut butter cups. Given that Hershey Chocolate Company supplied the coating for REESE’S â€Å"penny cups, (the wrapper said, â€Å"Made in Chocolate Town, So They Must Be Good†), it was not surprising that the two companies had a good relationship. As a result, seven years after Reese’s death in 1956, the H.B. Reese Candy Company was sold to Hershey Chocolate Corp. Growing up and branching out. The following decades would see the company renamed Hershey Foods Corporation in 1968 expanding its confectionery product lines, acquiring related companies and even diversifying into other food products. Among the many acquisitions were San Giorgio Macaroni and Delmonico Foods (1966); manufacturing and marketing rights to English candy company Rowntree MacKintosh’s products (1970); YS Candies, makers of TWIZZLERS licorice (1977); Dietrich Corp.’s confectionery operations (1986); Peter Paul/Cadbury’s U.S. confectionery operations (1988); and Ronzoni Foods (1990). The Hershey Company enters a new century. Today, The Hershey Company is the leading North American manufacturer of chocolate and non-chocolate confectionery and grocery products. As the new millennium begins, The Hershey Company continues to introduce new products frequently and take advantage of growth opportunities through acquisitions. HERSHEY’S products are known and enjoyed all over the world. In fact, the company exports to over 90 countries. The Hershey Company remains committed to the vision and values of the man who started it all so many years ago. A New Company: 1894 In the beginning, the Hershey Chocolate Company was simply a wholly owned subsidiary of Milton Hershey’s Lancaster Caramel Company. Using chocolate-making equipment purchased at the 1893 Columbian Exposition in Chicago, the company produced baking chocolate, cocoa and sweet chocolate coatings for the parent company’s caramels. But things changed with the hiring of William Murrie to sell the excess product to other confectioners. Murrie was so successful a salesman that the Hershey Chocolate Company quickly turned into a viable concern on its own. Milton Hershey became even more convinced that his future in the candy business lay in chocolate, not caramels. Sweet Chocolate Novelties: 1895 – 1909 By 1895, the Hershey Chocolate Company was manufacturing 114 different items in all sorts of sizes and shapes. Many were flavored with vanilla and given luxurious-sounding names like LeRoi de Chocolate, Petit Bouquets and Chocolate Croquettes. Chocolate â€Å"segars† and cigarettes were also quite popular. Some chocolate cigarettes and cigars, such as Vassar Gems and Smart Set Cigarettes, were purposely marketed to women as an alternative to the tobacco variety. Chocolate was also touted as a source of quick energy for athletes. The Baby in the Bean: 1898 On August 1, 1898, the company adopted a very distinctive symbol for its trademark. The small child in a cocoa bean pod appeared on cans of HERSHEY’S COCOA up until 1936, when it was finally replaced by the block lettering familiar today. The â€Å"Baby in the Bean† went through many incarnations, sometimes holding a cup of cocoa, sometimes a chocolate bar. Even the child’s hair and facial expression underwent changes over the years. The logo symbol was finally retired in 1968, when the company was reorganized as Hershey Foods Corporation. Finding the Formula: 1895 – 1904 While his company was successful enough selling sweet chocolate products, Milton Hershey was certain the real market lay in milk chocolate. The problem was in developing a formula for manufacturing it cheaply and efficiently, while still maintaining a high level of quality. Hershey built a milk-processing plant on the family farm in Derry Township in 1896 and spent the next several years developing a viable formulation for milk chocolate. Hershey worked day and night, going back and forth between the condensing room and the creamery, rarely even stopping for meals. Finally, in 1899, he cracked the recipe and became the first American to manufacture milk chocolate. Hershey Goes to Cuba: 1916 With the onset of World War I, the European beet sugar, which Hershey had been using to make his milk chocolate, became increasingly scarce. So, searching for a more dependable source, Milton Hershey started acquiring cane sugar plantations and constructing refineries in Cuba. Typically, he also established a planned community for the workers, called Central Hershey, based on the Pennsylvania model. Hershey’s Cuban holdings eventually included 60,000 acres of land, five mills, a 251-mile railroad and, not surprisingly, a school for orphaned children. By the end of World War II, the company found it no longer needed its Cuban sources, and its sugar and railway interests were sold to the Cuban-Atlantic Sugar Company. Expanding and Innovating. Stepping Stones Many Hershey products that are familiar today were originally produced for the confectionary trade and were later reformulated for consumers. HERSHEY’S powdered cocoa, for example, has been manufactured continuously since 1894. Also, Hershey was the first to sell chocolate syrup for home use beginning in 1926. Not all products under the HERSHEY brand were so successful in the marketplace. HERSHEY’S mint-flavored chewing gum, introduced in 1915, enjoyed only brief popularity. And a creation named the Not-So-Sweet bar was introduced in 1934, only to be discontinued in 1937. A Kiss and Tell Story Of course, the very first addition to the HERSHEY’S product line of milk chocolate confections was HERSHEY’S KISSES Chocolates way back in 1907. Originally, each one was hand-wrapped in a square of silver foil, but in 1921 machine wrapping was introduced, along with the addition of the unique â€Å"plume† which marked it as a genuine HERSHEY’S KISSES Chocolate. The chocolates were not produced at all from 1942 through 1949 due to the rationing of silver foil during and immediately after World War II. HERSHEY’S KISSES Chocolates were wrapped in colors other than silver for the first time in 1962. HERSHEY’S KISSES with almonds were introduced in 1990 and the first successful HERSHEY’S product using white chocolate, HERSHEY’S HUGS, in 1993. Sweet Inventions Two of the most successful products launched during ‘20s were the MR. GOODBAR and KRACKEL bars. MR. GOODBAR, combining milk chocolate and peanuts, was introduced in November of 1925. According to popular legend, Milton Hershey himself named the new product. Upon tasting it, he is said to have exclaimed, â€Å"Now, that’s a good bar!† The KRACKEL bar was introduced on September 14, 1938. During its first few years, the formula for the confection changed several times, with almonds, and then peanuts, being included along with crisped rice in milk chocolate. Finally, the nuts were eliminated altogether in 1943, leaving the crispy milk chocolate recipe enjoyed by millions ever since. Mr. Reese and his Cups In 1923, a former Hershey employee named H.B. Reese decided to start his own candy company out of the basement of his home. He made several different kinds of candy, but it wasn’t until five years later that he hit upon his greatest idea: a confection of peanut butter covered by milk chocolate (purchased, incidentally, from the Hershey Chocolate Company). During World War II, he discontinued his other product lines and concentrated on producing only REESE’S peanut butter cups. Despite its dependence on only a single product, Reese’s company prospered, and in 1963 the H.B. Reese Candy Company was purchased by the Hershey Chocolate Corporation. Since then, the REESE’S product line has grown to include REESE’S PIECES candies, the NUTRAGEOUS candy bar and REESESTICKS. Going to War The Ration D Bar The U.S. Army’s requirements were quite specific. For troops engaged in a global war, they needed a ration bar that weighed about four ounces, would not melt at high temperatures, was high in food energy value, and did not taste so good that soldiers would be tempted to eat it except in an emergency. This last objective in particular was certainly a new one for the Hershey Chocolate Corporation. Nevertheless, its chocolate technologists came up with something that passed all tests. Named â€Å"Field Ration D,† it was so successful that by the end of 1945, approximately 24 million bars were being produced every week. More successful still was HERSHEY’S Tropical Chocolate Bar, a heat resistant bar with an improved flavor developed in 1943. In 1971, this bar even went to the moon with Apollo 15. Growing Global Advertising to the Nation Except for a TV and billboard campaign in Canada in 1964, the company had never really done advertising on a national scale. In 1968, the newly renamed and reorganized Hershey Foods Corporation announced plans for a nationwide consumer advertising campaign spearheaded by the famous Ogilvy Mather ad agency. Starting with a Sunday newspaper supplement in July, 1970, followed two months later by television and radio commercials, the campaign was an immediate success. Sales of REESE’S peanut butter cups and HERSHEY’S KISSES Chocolates, in particular, rose dramatically. But while the company today continues to advertise in all media, the quality of our products is still our best form of advertising. Milton Hershey would have liked that. E.T. Makes a Good Choice In the early 1980s, Hershey executive Jack Dowd met with Hollywood producer Steven Spielberg and struck a deal to include REESES’S PIECES candy in Spielberg’s upcoming film, E.T.: The Extraterrestrial. When Hershey Chocolate Company President Earl Spangler first saw the movie’s promotional materials, he told Dowd, â€Å"That’s the ugliest creature I’ve ever seen.†After its successful premiere, the movie was screened by the company’s managers and top brass. When the film ended, there was first silence, then wild applause. Like many others, Spangler emerged from the theater with moist eyes. â€Å"Is he still ugly, Earl?† Dowd asked. Replied the company president, â€Å"He’s beautiful!† Both the lovable alien and his candy of choice became instant hits nationwide. Hershey Goes International In addition to being the leading producer of chocolate and non-chocolate confectionary and other grocery products in North America, The Hershey Company also carries on a significant international presence with operations in more than 90 different countries. Hersheys International division exports HERSHEY’S chocolate and grocery products worldwide and maintains licensing agreements with partners in nations such as South Korea, Japan, the Philippines and Taiwan. We don’t believe Milton Hershey would have been at all surprised to learn that his HERSHEY’S KISSES Chocolates are especially popular in Japan. Top of the Charts Through unceasing technological modernization, strategically astute acquisitions and continued new product development, The Hershey Company grew spectacularly in the last 30 years of the 20th century. From $334 million in 1969, the company’s net sales soared to $4.4 billion in 2004. The Hershey Company is the leading North American manufacturer of quality chocolate and non-chocolate confectionery and chocolate-related grocery products. The company also is a leader in the gum and mint category.

Thursday, November 14, 2019

Why Some Small Businesses Fail Essay -- Economics Business Management

Why Some Small Businesses Fail It is hard to measure the size of a business. According to The Department of Trade and Industry (DTI), an SME can be described as a business that employs between 0-49 people. However a company such as a Chemical Plant may employ less than 49 people but have a turnover of  £20 million. So according to the number of employees, the DTI would class it as a small business. However, according to the level of turnover it could be classed as a large business. The size of the firm is generally measured by the amount employed1. The amount of SME’s is forever increasing. There are many reasons for the increase, such as; improved technology, ability to sub-contract part of business and public sector being encouraged to become smaller. There is also Push and Pull factors that help people come to the decision to be self-employed. â€Å"Push factors† include people who are unemployed or made redundant decide to venture on their own. This may be simply starting their own window cleaning service. Another â€Å"push factor† is the â€Å"Pratt factor† this is when an employee finds himself working for someone else less talented and wonders ‘why am I working for you?’ so decides to start up on his own. The amount of SME’s is forever increasing. There are many reasons for the increase, such as; improved technology, ability to sub-contract part of business and public sector being encouraged to become smaller. There is also Push and Pull factors that help people come to the decision to be self-employed. â€Å"Push factors† include people who are unemployed or made redundant decide to venture on their own. This may be simply starting their own window cleaning service. Another â€Å"push factor† is the â€Å"Pratt factor† this is when an employee finds himself working for someone else less talented and wonders ‘why am I working for you?’ so decides to start up on his own. â€Å"Pull factors† include peoples increasing desires to exploit an opportunity, turning their hobby into a business, the motivation to work independently and when people become older they sometimes inherit money; they sometimes put this money into a business venture they perhaps previously couldn’t afford. The failure rate for small businesses is very high. The probability that your new business will make it past the third year is less than 25%. In other words, over three-... ...elves in a whole too deep to dig themselves out of. It was now too late for them to ask for advice and the shop closed down. My advice to my friend was to learn by his mistakes and try again. It is inevitable that small businesses will carry on failing. Sometimes the reason behind the failure cant be helped. However from reading this essay you should gather that the majority of the times, failure could have been prevented. In fact 82% of the time when businesses fail, the owners really could have done something differently to stop it from happening. REFERENCES 1 Business Studies by Dave Hall, Rob Jones, Carlo Raffo. Edited by Ian Chambers.(1996) 2 www.compulink.co.uk 3 www.bcentral.com 4 The Business Environment (second edition) by Ian Worthington and Chris Britton. Published 1997 by pitman publishings JOURNALS USED  ¹ Journal of Small Business and Enterprise Development, Vol 9, Issue 1.Learning the hard way: the lessons of owner-managers who have closed their businesses. By David Stokes and Robert Blackburn.  ² Journal of Management Development, Vol 13, Issue 7. Managerial Competences in Small Firms. By Graham Martin and Harry Staines.

Tuesday, November 12, 2019

Management Policy & Strategy Essay

Management Policy and Strategies course was very interesting and at the same time important for my career goal. I really wasn’t sure what I was going into when I signed up for this course, however I was able to learn much from it, thanks to Professor Dennis Strouble and all of my wonderful classmates. The position that I hold currently at my place of employment is Program Coordinator, however the duties that I am responsible for fall under a manager’s position, therefore I am able to bring information that I have learned in this class to my work place. SWOT analysis section of this course was also very interesting. Even though I had heard of the SWOT analysis before, I really didn’t pay too much mind to it, but now that I took this course I am more knowledgeable about it. Because I can implement SWOT analysis into not only at my workplace but in my personal life, as well, therefore I consider it very important to know. SWOT stands for: Strengths, Weaknesses, Oppo rtunities, and Threats. Knowing this information and the meaning to it will make me able to input analysis into what I currently do now and in the future. Performing internal and external analysis is an important factor to when managing a business or even a department. Since job plays a manager role, I will be able to perform duties and really look at the department policies and tasks processes and analyze the internal and external areas within the program organization. I deal with low-income families, monthly and quarterly reporting, day-to-day administration, finance, etc. and learning everything I learned in this course will make a positive input to the program, to the organization and most importantly to the federal fund institution that is funding our program. Understanding implementation is an important key to my job. Implementing new ideas and processes is part of my job daily. Therefore, with all the information that I learned which I have not mentioned all, these are some i mportant factors that I will be able to utilize in the business that I am currently in moving forward. Having a professor that actually cares and enjoys teaching (and does a great job at it) really helped me understand the material. I do appreciate the time and effort that you have provided for my classmates and me.

Sunday, November 10, 2019

Miscommunications in the Workplace Essay

Recently we have had two of our retailers contact us with problems regarding shipments they have received or have failed to receive. I know this is not the first time this has happened but I would like to minimize the possibilities of it happening again. It seems the root of our problem is miscommunication in the workplace. As a shipping manager that has seen this kind of issue before in past work experiences and I believe I know what we can do to solve our breakdown in communication between the various departments, retailers, and co-workers. As CFO I know you will see this proposal can benefit the company both financially and operationally. First, I propose that the company implement a required form of communication. I believe hand written notes are a thing of the past and that we should upgrade our communication requirements to electronic mail. If we had an e-mail only policy we could have record of all communication on file without the risk of losing a post-it note. E-mail also includes the option of a read receipt, which allows the user to know when the receiver has opened and read the message or if they have not seen the message yet and another form of  communication, such as a phone call, might be required to meet a deadline. The policy might also include that all e-mails must receive a reply no matter how simple the message. I can head a short meeting at the end of the day to cover the implementation of this plan. The idea here is to eliminate hand written notes as well as informal communication such as instant messengers and social network communications. We will need to upgrade a few of the employee’s company cell phones and instruct them on how to use e-mail on these devices. Even though e-mails are good for keeping a history of communications, public relations expert Lisa Elias states, â€Å"When delivering delicate information, pick up the phone. A gentle tone of voice can soften bad news or express warmth and caring, whereas an email or text can easily be misconstrued,† (Kouremetis 2013). Although e-mail can help eliminate the outside forms of communication, another possible resolution would be to implement task management software into the office. This alone may solve the issue. There are many different task management programs available but one that has caught my eye is AtTask, which is used by corporations such as HBO, Samsung, and Adobe. AtTask will allow us to run a free trial of the software prior to purchasing and claims the product will allow us to see what is going on with our projects, if we are on time, and when it will be done (â€Å"Services†, 2012). You will even have access to the task manager to see what is going on in our shipping bay. AtTask even has an integrated communications technology that allows for instant messaging between co-workers and a notes system for the client list. That way, if one person speaks with a client of ours and they request a change to their order he can enter the message in the client’s message folder and we can all receive the notification straight to our smart phones and computers. Even though, task management software will ultimately benefit company wide communication, another area that lacks focus is education on the subject matter of the workplace. A few of these men have worked here for over ten years and they know every part number by memory, but communication technology is outgrowing these few at a rapid pace. On the other end of the  spectrum, these younger men have keen senses of current technological advancements, but they could use some more time in learning the step-by-step processes we face on a daily basis. I propose that we run a workshop meeting once every two weeks for a total of eight weeks to teach the young ones about the process of shipping from us, the supplier, to the consumer/retailer. This workshop could possibly be run during hours if the time comes available, but will most likely need to take place on Saturday from 12:00 p.m. until 2:00 p.m. The instructors will be chosen from 3 of our most experienced workers who will earn overtime from these extra hours. A separate workshop on communication technology for the employees that have been here should happen once a week for an hour, probably on Wednesday evenings after work. The employees will be eligible for overtime with this extra hour on the job. I believe that being educated on the subject matter of the workplace is vital to our success. In addition to knowledge of the workplace being significant, another part of the communication process that has lacked in certain areas is feedback. Feedback is one of the four major communication functions (Belch 2012). It is the key to knowing your communication was successful. We need to emphasize in the training process that it is okay to ask questions. I have seen it happen before where someone is afraid to ask a question for fear of disapproval only to have to go back re-work what has been done. Asking the right questions can help us to do it right the first time (D.I.R.T.Fi.T.). I feel the previously mentioned workshops would be a great time to re-emphasize the importance of asking questions. Also, as mentioned in the first proposal, all e-mails must receive a reply or they will be followed up with a phone call. We must remember that sometimes in order to receive feedback it must be asked for. After explaining a work order or process it is vital to ask, â€Å"Do you understand?† or â€Å"Do you have any questions for me?† Another way of obtaining feedback would be through face-to-face technology. With our smartphones and office computers we can send a more personal message with FTF video conferencing. Google Hangouts are part of the Google suite of applications that support multi-party video chat as well as other Google applications including Sketch-UP, Docs, Spreadsheets, Presentations, and screen sharing and these types of technologies are being recommended as  teaching formats to doctors and professors around the globe (Roseth, 2013). In conclusion, I do believe there is work to be done in regards to the communication process in the workplace. I have proposed four strategies to minimize the possibility of future communication breakdowns. Please do not hesitate to contact me with any questions you may have. You may decide to choose one or to integrate all four, the choice is yours, but I do ask that you please take your time in considering the possibilities and I do trust you will choose what is best for the company. References Belch, G. E., & Belch, M. A. (2012). Advertising and Promotion: An Integrated Marketing Communications Perspective, 9th Edition. New York, NY: McGraw-Hill/Irwin. Kouremetis, D. (2013). Choosing Communication Methods Wisely for Your Small Business. Forbes. Retrieved from http://www.forbes.com/sites/denakouremetis/2013/01/28/choosing-communication-methods-wisely-for-your-small-business/ Roseth, C. (2013). Blending Synchronous Face-to-face and Computer-Supported Cooperative Learning in a Hybrid Doctoral Seminar. Techtrends: Linking Research & Practice To Improve Learning, 57(3), 54-59. â€Å"Services†. (2012). AtTask software services retrieved from http://www.attask.com/services

Friday, November 8, 2019

What Shirk Means in Islam Essays

What Shirk Means in Islam Essays What Shirk Means in Islam Paper What Shirk Means in Islam Paper Tawheed in Islam is very important as it means that believing in one lord and no one else. It is attributing oneness to Allah and describing him as being one and unique as he has no partner in his essence and attributes. However if one doesnt believe in this then he is going against Tawheed and will be classed as not a true Muslim. Believing that Allah is one with no partner or associate in his lordship is known as Tawheed ruboobiyyah. If any disagrees with this statement then they are going against Allahs word which are written in the Quran as he states Say he is Allah, the One and only. This verse clearly shows that Allah is one as he has written it him in the Quran for Muslims, no one should join partners with him nor should they believe in anyone besides him, this is known as shirk. Shirk in linguistic meaning is associating partnership, sharing with someone or associating something with someone however in Islam it refers to associating partners with Allah. There are two type of shirk which are: Shirk Akbar Major Shirk Shirk Asgar Minor Shirk Major shirk in Islam means when an individual ascribe partners with Allah such as saying that he has a son or a family. This can be with his Lordship, divinity or his names and attribute. Allah has told the Muslims in the Quran that he does not forgive anyone who ascribes partners with him in any way, as he states Verily! Allah forgives not setting up partners with Him, but He forgives whom He wills sins other than that, and whoever sets up partners with Allah in worship, he has indeed invented a tremendous sin. (2:48). Shirk is classed as worst sin in Islam. Shirk can be also loving someone as they should be loving Allah, and fearing as they should be fearing Allah, or relying upon him, calling upon him, dreading him, hoping in him and having awe of him, trusting in him, or obeying him in disobedience to Allah, or following him in what displeases Allah etc. This type of shirk may sometimes believe that someone else apart from Allah created this universe, maybe gives life and death or having a belief that someone else should be worshipped besides Allah. Whoever believes that then his final abode will be in hellfire as it is stated clearly in the Quran by Allahs words, Verily, whosoever sets up partners with Allah, then Allah has forbidden Paradise to him, and the Fire will be his abode. (5: 72). Even the Prophet of Allah mentioned in a Hadith that Shirk is never forgiven as he says The greatest sins are polytheism etc (Muslim). The second type of Shirk in Islam is the minor shirk which is everything that will lead an individual to major shirk such as adorning something or believing in fortune telling. Minor shirk has been described by Prophet Muhammad as Shirk in the Muslim nation is more inconspicuous than the creeping of the black ant on a black rock in the pitch darkness of the night. This saying of Prophet explains to the Muslims in a metaphorical way that minor shirk is what will lead the Muslims to major shirk unknowingly. Prophet also said that he feared minor shirk more then any sin as it was the cause of everything. Whoever swears to someone else other then Allah also commits the act of shirk and Kufr (disbelief). Minor shirk can also take the form of actions such as believing in fortune telling and wearing amulets. We as Muslims know this because Prophet said whoever goes towards fortune-teller and believes in his story, his prays will not be accepted for forty days. Tawheed is very important in Islam because it is the pillar which Islam is built upon, as it is the first thing invited to and preached to for thirteen years. say, none has the right to be worshipped when an individual believes in Tawheed they have to believe in the three aspects of tawheed which are Ruboobiyah- in his lordship, Uloohiyyah- in his worship and finally Asma was sifaat believing in his Names and Attributes. Tawheed is a condition for an action to be accepted, because for a deed to be accepted it requires two conditions. Which is the intention which is purely for Allah and in accordance with the shareeah of Prophet Muhammad. The three categories of Tawheed in Islam that are very important to abide by which are Tawheed Ruboobeeyah which means maintaining the oneness of Lordship that is, affirming that Allah is one, without partners in his power, as Allah states in the Quran And no calamity strikes except by Allahs permission. This means that without Allahs permission no one can do anything. Second one is Tawheed al-Asmaa was-Sifaat which means maintaining the unity of Allahs Names and Attributes that is, affirming that they are incomparable and unique as Allah says in the Quran for Muslims that There is nothing like him. This means that Allahs attributes are different to his mankind. And lastly its Tawheed Uloohiyyah which is affirming that Allah is alone in his right to be worshipped, as it says in the Quran I did not create the jinn and mankind except for my worship. Surah Ikhlas is a one of the important chapter from the holy Quran as it declares the oneness of Allah and absolute nature of divine essences. This concept is presented in the first verse it says He is Allah, the One and Only moreover the second verse that Allah is Eternal, i.e., He is beyond the bounds of time and space which is Allah, the Eternal, Absolute The third verse describes that Allah does not give birth or was given birth to as it says He begetteth not nor is He begotten and the last verse declares that Allah is beyond comparison which is And there is none like unto Him. Surah Ikhlas directly supports the first declaration shahadah of Islam: There is no god but Allah. In this context, Islam is based on belief in one God which is monotheism. There are many Muslims that still depend on pious people that they believe have similar qualities to God. They put their whole trust in them and act upon what they tell them to do rather then following the Quran and the Sunnah of Prophet Muhammad. They might start to wear amulets as they might believe that these things will protect them from harm and guide them the right path. However all this is wrong as we know that from the words of the Prophet, as he says wearing amulets is an act of Shirk (polytheism). Other Muslims put the Prophet on a higher level than Allah and see him as their God rather than Allah; they give excessive praise to the Prophet. Shirk is the major sin in Islam because it involves associating others along with Allah in worship, his lordship or in his attributes. Being thankful to other than Allah for all the good which he has given us, or to say that He has an equal or one who is similar to him, shirk can also involve rejecting the Messengers of Allah since the Messengers of Allah call against shirk and whoever associates partners with Allah will never enter paradise as Allah says in the Quran Indeed they do blaspheme those who say that Allah is Jesus, the son of Mary, but Jesus said O children of Israel! Worship Allah, my Lord and your Lord. Whoever joins other gods with Allah, Allah will forbid him heaven and the fire will be his abode. (5:72) There are many dangers of Shirk such as it wipes away an individuals good deeds, Muslims know this because it says in the Quran But if they were to join others with Allah in worship, all that they used to do would be of no benefit to them. (6:88) It also leads to eternal punishment in the hellfire and takes a person out of the fold of Islam as it says Whoever joins other gods with Allah, Allah will forbid him heaven and the fire will be his abode. When someone commits Shirk they are going against the belief in Tawheed which is the foundation of ones faith. Islam has 7 articles of faith among others the most important one is believe in Allah as the only one God. The principle of oneness in Allah was planted since Adam and Eve continued to Nuh, Abraham and up to the final Prophet Muhammad.

Tuesday, November 5, 2019

Lockheed U-2 Spy Plane

Lockheed U-2 Spy Plane In the years immediately after World War II the US military relied on a variety of converted bombers and similar aircraft to collect strategic reconnaissance. With the rise of the Cold War, it was recognized that these aircraft were extremely vulnerable to Soviet air defense assets and as a result would be of limited use in determining Warsaw Pact intentions. As a result, it was determined that an aircraft capable of flying at 70,000 feet was needed as existing Soviet fighters and surface-to-air missiles were incapable to reaching that altitude. Proceeding under the codename Aquatone, the US Air Force issued contracts to Bell Aircraft, Fairchild, and Martin Aircraft to design a new reconnaissance aircraft capable of meeting their requirements. Learning of this, Lockheed turned to star engineer Clarence Kelly Johnson and asked his team to create a design of their own. Working in their own unit, known as the Skunk Works, Johnsons team produced a design known as the CL-282. This essentially married the fuselage of an earlier design, the F-104 Starfighter, with a large set of sailplane-like wings. Presenting the CL-282 to the USAF, Johnsons design was rejected. Despite this initial failure, the design soon received a reprieve from President Dwight D. Eisenhowers Technological Capabilities Panel. Overseen by James Killian of the Massachusetts Institute of Technology and including Edwin Land from Polaroid, this committee was tasked with exploring new intelligence weapons to protect the US from attack. While they initially concluded that satellites were the ideal approach for gathering intelligence, the necessary technology was still several years away. As a result, they decided that new spy plane was needed for the near future. Enlisting the aid of Robert Amory from the Central Intelligence Agency, they visited Lockheed to discuss the design of such an aircraft. Upon meeting with Johnson they were told that such design already existed and had been rejected by the USAF. Shown the CL-282, the group was impressed and recommended to CIA head Allen Dulles that the agency should fund the aircraft. After consulting with Eisenhower, the project moved forward and Lockheed was issued a $22.5 million contract for the aircraft. Design of the U-2 As the project moved forward, the design was re-designated U-2 with the U standing for the deliberately vague utility. Powered by the Pratt Whitney J57 turbojet engine, the U-2 was designed to achieve high altitude flight with a long range. As a result, the airframe was created to be extremely light. This, along with its glider-like characteristics, makes the U-2 a difficult aircraft to fly and one with a high stall speed relative to its maximum speed. Due these issues, the U-2 is difficult to land and requires chase car with another U-2 pilot to help talk the aircraft down. In effort to save weight, Johnson originally designed the U-2 to take off from a dolly and land on a skid. This approach was later dropped in favor of landing gear in a bicycle configuration with wheels located behind the cockpit and engine. To maintain balance during takeoff, auxiliary wheels known as pogos are installed under each wing. These drop away as the aircraft leaves the runway. Due to the U-2s operational altitude, pilots wear the equivalent of a spacesuit to maintain proper oxygen and pressure levels. Early U-2s carried a variety of sensors in the nose as well as cameras in a bay aft of the cockpit. U-2: Operation History The U-2 first flew on August 1, 1955 with Lockheed test pilot Tony LeVier at the controls. Testing continued and by spring 1956 the aircraft was ready for service. Reserving authorization for overflights of the Soviet Union, Eisenhower worked to reach an agreement with Nikita Khrushchev regarding aerial inspections. When this failed, he authorized the first U-2 missions that summer. Largely flying from Adana Air Base (renamed Incirlik AB on 28 February 1958) in Turkey, U-2s flown by CIA pilots entered Soviet airspace and collected invaluable intelligence. Though Soviet radar was able to track the overflights, neither their interceptors nor missiles could reach the U-2 at 70,000 ft. The success of the U-2 led the CIA and US military to press the White House for additional missions. Though Khrushchev protested the flights, he was unable to prove that the aircraft were American. Proceeding in complete secrecy, flights continued from Incirlik and forward bases in Pakistan for the next four years. On May 1, 1960, the U-2 was thrust into the public spotlight when one flown by Francis Gary Powers was shot down over Sverdlovsk by a surface-to-air missile. Captured, Powers became the center of the resulting U-2 Incident which embarrassed Eisenhower and effectively ended a summit meeting in Paris. The incident led to an acceleration of spy satellite technology. Remaining a key strategic asset, U-2 overflights of Cuba in 1962 provided the photographic evidence that precipitated the Cuban Missile Crisis. During the crisis, a U-2 flown by Major Rudolf Anderson, Jr. was shot down by Cuban air defenses. As surface-to-air missile technology improved, efforts were made to improve the aircraft and reduce its radar cross-section. This proved unsuccessful and work began on a new aircraft for conducting overflights of the Soviet Union. In the early 1960s, engineers also worked to develop aircraft carrier-capable variants (U-2G) to extend its range and flexibility. During the Vietnam War, U-2s were used for high-altitude reconnaissance missions over North Vietnam and flew from bases in South Vietnam and Thailand. In 1967, the aircraft was dramatically improved with the introduction of the U-2R. Approximately 40% larger than the original, the U-2R featured underwing pods and an improved range. This was joined in 1981 by a tactical reconnaissance version designated TR-1A. The introduction of this model re-started production of the aircraft to meet the USAFs needs. In the early 1990s, the U-2R fleet was upgraded to the U-2S standard which included improved engines. The U-2 has also seen service in a non-military role with NASA as the ER-2 research aircraft. Despite its advanced age, the U-2 remains in service due to its ability to perform direct flights to reconnaissance targets on short notice. Though there were efforts to retire the aircraft in 2006, it avoided this fate due to the lack of an aircraft with similar capabilities. In 2009, the USAF announced that it intended to retain the U-2 through 2014 while working to develop the unmanned RQ-4 Global Hawk as a replacement. Lockheed U-2S General Specifications Length:  63 ft.Wingspan:  103 ft.Height:  16 ft.Wing Area:  1,000 sq. ft.Empty Weight:  14,300 lbs.Loaded Weight:  40,000 lbs.Crew:  1 Lockheed U-2S Performance Specifications Power Plant:  1 Ãâ€" General Electric F118-101 turbofanRange:  6,405 milesMax Speed:  500 mphCeiling:  70,000 ft. Selected Sources FAS: U-2The CIA the U-2 Program: 1954-1974

Sunday, November 3, 2019

Three Level Architecture Essay Example | Topics and Well Written Essays - 2750 words

Three Level Architecture - Essay Example In this section I will present some of major objectives of the three levels of the database architecture. The DBA is able to transform the structure of database, for example without altering the software program for example external schema. Every user is able to access the data as of his/her necessities. Users are sovereign of the storage issues similar to indexing limitations etc of the database. The conceptual architecture of the database has no influence because of the transform of the physical storage systems.The External LevelThe external level is one near to users. That is the one associate with the mode in which the data is observed through particular users. At the external level the DBMS outlines every user by means of a shared or particular view or representation of the data. There are numerous views of the information and data at this phase, as well as every view is an illustration of fraction of the whole database. A view permits a client access to their part of the databa se, as well as shields the remaining database from them. Every external view is described through means of an external representation, that composed of fundamentally of descriptions of all of variety of kinds of outer record discovered that external view. In external level, the diverse views can have diverse illustrations of the similar data. For instance one user can view date in the structure as day, month, year as another may analysis as year, month, day.The external level or view of DBMS is basically associated.

Friday, November 1, 2019

Definition of The Bermuda Triangle Essay Example | Topics and Well Written Essays - 1000 words

Definition of The Bermuda Triangle - Essay Example What actually makes this specific region of the Atlantic Ocean primarily fascinating and the reason why this region has amassed such immense worldwide attention over time is based on the fact that word of mouth has played a significant role in this issue which is discussed in this essay. People have rushed to associate supernatural explanations with the Bermuda Triangle due to which this region gained a mysterious aura in a short span of time. Along with contemplating the mystery of the Bermuda Triangle historically, some majorly important characteristics related to it are also discussed and explained in the essay. Beginning with the important accidents that occurred in the Bermuda Triangle due to which it attracted massive attention, the disappearance of an entire troop of bombers and planes without leaving behind a single trace are worth mentioning. Unexplained disasters led people to believe in the myths that there ought to be something deadly, monstrous, and heinous in the ocean due to which people, planes, and ships disappear to never get recovered. After the big incident of plane crashes in the Bermuda Triangle, the gateway to disasters opened up and myriad other disappearances began to be reported due to which this specific area became a highly talked about, riveting, and enthralling topic around the globe and research began on a large scale with no concrete facts revealed and ambiguity, confusion, and mystery ensued. Over time, headlights continued cropping up about more flights and ships along with hundreds of innocent people vanished in the deep waters and no explanation was ever presented publicly other than the dark doubtful statements which led people to speculate that there had to be some supernatural phenomenon in action in that specific area of the Atlantic Ocean, never once stopping to consider the probable role played by natural calamities or human errors. One stark similarity among all the casualties which played a major role in spreading bla ck doubts among the public was that the ships, planes, and aircraft which vanished in the ocean never showed up after some months as wreckage. Now wreckage forms important indicators of where actually the accident took place in case of sea crashes and as for the reported cases of aircraft, if they ever actually did happen, never any oil slicks were found in the ocean by the trackers which put a blind end to the search for authentic facts. It is not like the reasons for all the disasters which occurred in the Bermuda Triangle in the past were left uncovered, rather natural calamities and technical errors accounted for some accidents but, a large proportion of people still remained intent on relying on the supernatural explanations. UFOs and natural reasons form the widely speculated reasons for the disappearances occurring in the Bermuda Triangle of the Atlantic Ocean since the beginning. UFOs are unexplained anomalies which many people have claimed to witness though there is no conc rete fact which can be associated with it.

Wednesday, October 30, 2019

Professional Responisbility Ethics Research Paper

Professional Responisbility Ethics - Research Paper Example And the Attorney, after reading the draft prepared by the Legal Assistant, decides whether the firm would handle the case, and then the attorney decides the settlement range, strategies, and ultimately finalizes the settlement. The information regarding case strategies are conveyed to the client by the Legal assistant. In addition, the legal assistant interviews witnesses, and negotiate settlement number with the insurance company. According to Canon 3 EC 3-2 of the ABA Model Code of Professional Responsibility, the sensitive variations in the considerations that bear on legal determinations often make it difficult even for a lawyer to exercise appropriate professional judgment, and it is therefore essential that the personal nature of the relationship of client and lawyer be preserved. As a result, the American Bar points out that a competent professional judgment requires trained familiarity with law and legal processes, and an analytical approach to legal problems. Admittedly, Att orney can claim that the Legal Assistant was a law student and had considerable amount of experience in handling such cases. However, the American Bar Association reminds that a non-lawyer, despite some experience, is not governed by the same rules in matters of integrity or legal competence as an attorney is. That means, despite the great degree of skills and experience of the Legal Assistant, the legal assistant cannot be entrusted such tasks which are to be done by the Attorney. However, there are disputes regarding as to what constitutes the practice of law. It is, in fact, difficult to explain in concrete terms what constitutes legal practice. However, the mere fact is that people go to a lawyer when they are in need of a professional legal judgment (EC 3-5). If this is the case, it becomes evident that Attorney has blatantly violated the ethical codes as Attorney does not directly interact with the clients. The initial interview is solely handled by Legal Assistant without any supervision of Attorney. Thereafter, it is the Legal Assistant who makes a draft of the complaint for the Attorney to read. Purely based on this report, Attorney decides if she would take up the case. That means, the clients are denied their right to listen to the legal opinion of a lawyer regarding the matter. It is pointed out in EC 3-4 that lay people who seek legal services are not in a position to judge if they will receive proper professional attention. Also, legal matters are very serious matters that involve confidences, reputation, property, freedom, or even life of the client. So, when a person approaches Attorney with such serious legal matters which are highly confidential and demanding, it is highly improper to permit a non-lawyer to handle the issue even without supervision. In addition is the fact that such non-lawyer assistants, despite experience and skills, are not subjected to the regulations of the legal profession. Admittedly, EC 3-6 provides an even clearer vi ew of the situation. According to the guideline, if a lawyer wants to delegate a task to a clerk, secretary, or any other lay person, the lawyer must ensure direct relationship with his client. Now, going back to the case study, it becomes evident that Attorney does not keep any relationship with his clients at all. The attorney does not allow direct interaction or consultation, and lets the Legal Assistant conduct the initial intervie

Sunday, October 27, 2019

Growth of Venture Capital in India

Growth of Venture Capital in India VENTURE CAPITAL:- Venture capital (also known as VC or Venture) is a type of private equity capital typically provided for early-stage, high-potential, growth companies in the interest of generating a return through an eventual realization event such as an IPO or trade sale of the company. Venture capital investments are generally made as cash in exchange for shares in the invested company. It is typical for venture capital investors to identify and back companies in high technology industries such as biotechnology and ICT (information and communication technology). Venture capital firms typically comprise small teams with technology backgrounds scientists, researchers or those with business training or deep industry experience. VCs also take a role in managing entrepreneurial companies at an early stage, thus adding skills as well as capital . Inherent in realizing abnormally high rates of returns is the risk of losing all of ones investment in a given startup company. As a consequence, most venture capital investments are done in a pool format where several investors combine their investments into one large fund that invests in many different startup companies. By investing in the pool format the investors are spreading out their risk to many different investments versus taking the chance of putting all of their monies in one start up firm. A venture capitalist (also known as a VC) is a person or investment firm that makes venture investments, and these venture capitalists are expected to bring managerial and technical expertise as well as capital to their investments. A venture capital fund refers to a pooled investment vehicle (often an LP or LLC) that primarily invests the financial capital of third-party investors in enterprises that are too risky for the standard capital markets or bank loans. Venture capital is also associated with job creation, the knowledge economy and used as a proxy measure of innovation within an economic sector or geography. Venture capital is most attractive for new companies with limited operating history that are too small to raise capital in the public markets and have not reached the point where they are able to secure a bank loan or complete a debt offering. In exchange for the high risk that venture capitalists assume by investing in smaller and less mature companies, venture capitalists usually get significant control over company decisions, in addition to a significant portion of the companys ownership (and consequently value). STRUCTURE OF VENTURE CAPITAL FIRMS:- Venture capital firms are typically structured as partnerships, the general partners of which serve as the managers of the firm and will serve as investment advisors to the venture capital funds raised. This constituency comprises both high net worth individuals and institutions with large amounts of available capital, such as state and private pension funds, university financial endowments, foundations, insurance companies, and pooled investment vehicles, called fund of funds or mutual funds. TYPES OF VENTURE CAPITAL FIRMS:- Depending on business type, the venture capital firm approach differ. When approaching a VC firm, consider their portfolio: Business Cycle: Do they invest in budding or established businesses? Industry: What is their industry focus? Investment: Is their typical investment sufficient for your needs? Location: Are they regional, national or international? Return: What is their expected return on investment? Involvement: What is their involvement level? Targeting specific types of firms will yield the best results when seeking VC financing. The National Venture Capital Association segments dozens of VC firms into ways that might assist you in your search. Many VC firms have diverse portfolios with a range of clients. If this is the case, finding gaps in their portfolio is one strategy that might succeed. ROLES WITHIN VENTURE CAPITAL FIRMS:- Although the titles are not entirely uniform from firm to firm, other positions at venture capital firms include: Venture partners Venture partners are expected to source potential investment opportunities and typically are compensated only for those deals with which they are involved. Entrepreneur-in-residence (EIR) EIRs are experts in a particular domain and perform due diligence on potential deals. EIRs are engaged by venture capital firms temporarily (six to 18 months) and are expected to develop and pitch startup ideas to their host firm. Principal This is a mid-level investment professional position, and often considered a partner-track position. Principals will have been promoted from a senior associate position or who have commensurate experience in another field such as investment banking or management consulting. Associate This is typically the most junior apprentice position within a venture capital firm. After a few successful years, an associate may move up to the senior associate position and potentially principal and beyond. Associates will often have worked for 1-2 years in another field such as investment banking or management consulting. ORIGINS OF MODERN PRIVATE EQUITY:- Before World War II, venture capital investments (originally known as development capital) were primarily the domain of wealthy individuals and families. Today true private equity investments began to emerge marked by the founding of the first two venture capital firms in 1946: American Research and Development Corporation. (ARDC) and J.H. Whitney Company. ARDC was founded by Georges Doriot, the father of venture capitalism to encourage private sector investments in businesses run by soldiers who were returning from World War II. ARDCs significance was primarily that it was the first institutional private equity investment firm that raised capital from sources other than wealthy families although it had several notable investment successes as well. ARDC is credited with the first major venture capital success story when its 1957 investment of $70,000 in Digital Equipment Corporation (DEC) would be valued at over $355 million after the companys initial public offering in 1968. Venture capital firms suffered a temporary downturn in 1974, when the stock market crashed and investors were naturally wary of this new kind of investment fund. THE VENTURE CAPITAL FUNDS IN INDIA:- The concept and origin of Venture Capital, trace its growth, and highlight the venture capital regulations. It has briefly explained about the Chandra Sekhar Committee recommendations, various types of Venture Capital Funds and the venture capital process in India. A simple case on first Venture Capital Fund in India, Technology Development Information Company Of India Ltd., has also developed with concluding remarks. Introduction:- The venture capital investment helps for the growth of innovative entrepreneurships in India. Venture capital has developed as a result of the need to provide non-conventional, risky finance to new ventures based on innovative entrepreneurship. Venture capital is an investment in the form of equity, quasi-equity and sometimes debt straight or conditional, made in new or untried concepts, promoted by a technically or professionally qualified entrepreneur. Venture capital means risk capital. It refers to capital investment, both equity and debt, which carries substantial risk and uncertainties. The risk envisaged may be very high may be so high as to result in total loss or very less so as to result in high gains. THE CONCEPT OF VENTURE CAPITAL :- Venture capital means many things to many people. It is in fact nearly impossible to come across one single definition of the concept. Venture capital is defined as providing seed, start-up and first stage financing and also funding the expansion of companies that have already demonstrated their business potential but do not yet have access to the public securities market or to credit oriented institutional funding sources. The European Venture Capital Association describes it as risk finance for entrepreneurial growth oriented companies. It is investment for the medium or long term return seeking to maximize medium or long term for both parties. It is a partnership with the entrepreneur in which the investor can add value to the company because of his knowledge, experience and contact base. THE ORIGIN OF VENTURE CAPITAL :- In the 1920s 1930s, the wealthy families of and individuals investors provided the start up money for companies that would later become famous. Eastern Airlines and Xerox are the more famous ventures financed. Among the early VC funds set up, was the one by the Rockfeller Family, which started a special fund called VENROCK in 1950, to finance new technology companies. General Doriot, a professor at Harvard Business School, in 1946 set up the American Research and Development Corporation (ARD), the first firm, as opposed to a private individuals, at MIT to finance the commercial promotion of advanced technology, developed in the US Universities. ARDs approach was a classic VC in the sense that it used only equity, invested for long term, and was prepared to live with losers. ARDs investment in Digital Equipment Corporation , 1957 was a watershed in the history of VC financing. While in its early years venture capital may have been associated with high technology, over the years the concept has undergone a change and it implies pooled investment in unlisted companies. MAIN ALTERNATIVES TO VENTURE CAPITAL:- Because of the strict requirements venture capitalists have for potential investments, many entrepreneurs seek initial funding from angel investors, who may be more willing to invest in highly speculative opportunities, or may have a prior relationship with the entrepreneur. Furthermore, many venture capital firms will only seriously evaluate an investment in a start-up otherwise unknown to them if the company can prove at least some of its claims about the technology and/or market potential for its product or services. To achieve this, or even just to avoid the dilutive effects of receiving funding before such claims are proven, many start-ups seek to self-finance until they reach a point where they can credibly approach outside capital providers such as venture capitalists or angel investors. This practice is called bootstrapping. In industries where assets can be securitized effectively because they reliably generate future revenue streams or have a good potential for resale in case of foreclosure, businesses may more cheaply be able to raise debt to finance their growth. Good examples would include asset-intensive extractive industries such as mining, or manufacturing industries. Offshore funding is provided via specialist venture capital trusts which seek to utilise securitization in structuring hybrid multi market transactions via an SPV (special purpose vehicle): a corporate entity that is designed solely for the purpose of the financing. In addition to traditional venture capital and angel networks, groups have emerged which allow groups of small investors or entrepreneurs themselves to compete in a privatized business plan competition where the group itself serves as the investor through a democratic process. Venture capital (VC) arms of companies such as Intel, Cisco, Reliance ADAG, Google and Yahoo are increasing their investments in early stage technology and consumer service start-ups in India. Early Days In the absence of an organised Venture Capital industry until almost 1995, individual investors and development financial institutions played the role of venture capitalists in India. Entrepreneurs have largely depended upon private placements, public offerings and lending by the financial institutions. In 1973, a committee on Development of Small and Medium Enterprises highlighted the need to foster venture capital as a source of funding new entrepreneurs and technology. Thereafter some public sector funds were set up but the activity of venture capital did not gather momentum as the thrust was on high-technology projects funded on a purely financial rather than a holistic basis. REGULATORY GUIDELINES FRAMEWORK:- Later, a study was undertaken by the World Bank, to examine the possibility of developing Venture Capital in the private sector, based on which the Government of India took a policy initiative and announced guidelines for Venture Capital Funds (VCFs) in India in 1988. However, these guidelines restricted setting up of VCFs by the banks or the financial institutions only. Thereafter, the Government of India issued guidelines in September 1995, for overseas investment in Venture Capital in India. For tax-exemption purposes, guidelines were also issued by the Central Board of Direct Taxes (CBDT) and the investments and flow of foreign currency into and out of India have been governed by the Reserve Bank of Indias (RBI) requirements. Further, as a part of its mandate to regulate and to develop the Indian capital markets, the Securities and Exchange Board of India (SEBI) framed the SEBI (Venture Capital Funds) Regulations, 1996. These guidelines were further amended in April 2000 with the objective of fuelling the growth of Venture Capital activities in India. OBJECTIVES AND VISION FOR VENTURE CAPITAL IN INDIA:- Venture capitalists finance innovation and ideas which have potential for high growth but with inherent uncertainties. This makes it a high-risk, high return investment. Apart from finance, venture capitalists provide networking, management and marketing support as well. In the broadest sense, therefore, venture capital connotes financial as well as human capital. In the global venture capital industry, investors and investee firms work together closely in an enabling environment that allows entrepreneurs to focus on value creating ideas and allows venture capitalists to drive the industry through ownership of the levers of control, in return for the provision of capital, skills, information and complementary resources. This very blend of risk financing and hand holding of entrepreneurs by venture capitalists creates an environment particularly suitable for knowledge and technology based enterprises. Scientific, technology and knowledge based ideas properly supported by venture capital can be propelled into a powerful engine of economic growth and wealth creation in a sustainable manner. In various developed and developing economies venture capital has played a significant developmental role. India has the second largest English speaking scientific and technical manpower in the world. The Indian software sector crossed the Rs 100 billion mark turnover during 1998. The sector grew 58% on a year to year basis and exports accounted for Rs 65.3 billion while the domestic market accounted for Rs 35.1 billion. Exports grew by 67% in rupee terms and 55% in US dollar terms. The strength of software professionals grew by 14% in 1997 and has crossed 1,60,000. The global software sector is expected to grow at 12% to 15% per annum for the next 5 to 7 years. Recently, there has also been greater visibility of Indian companies in the US. Given such vast potential not only in IT and software but also in the field of service industries, biotechnology, telecommunications, media and entertainment, medical and health services and other technology based manufacturing and product development, venture capital industry can play a catalytic role to put India on the world map as a success story. WHERE ARE VCS INVESTING IN INDIA? IT and IT-enabled services Software Products (Mainly Enterprise-focused) Wireless/Telecom/Semiconductor Banking PSU Disinvestments Media/Entertainment Bio Technology/Bio Informatics Pharmaceuticals Electronic Manufacturing Retail ISSUES AND CHALLENGES:- Indian Venture Capital yet to be established as a sustainable asset class among institutional investors. Moreover a limited amount of true risk-capital impacts entrepreneurial activity. Exit challenges exist mainly due to shallow capital markets and dull MA environment for small companies. Most importantly, India is yet to create a brand-name for IP-led companies, like Israel has successfully done. THE GROWTH OF VENTURE CAPITAL: A CROSS-CULTURAL COMPARISON The venture capital (VC) industry plays an important role in nurturing entrepreneurship and innovation, and its role varies from country to country. The six countries whose VC industries are analyzed here are the United States and Canada, whose VC industries are mature; Sweden and Denmark, which have established small but successful VC industries; and Israel and Turkey, whose experiences demonstrate the state of the young VC industry in transition economies. The analysis is based on the four main determinants of the VC industry: sources of financing, institutional infrastructure, exit mechanisms, and entrepreneurship and innovation generators. In addition, the special role of VC financing in the biomaterials industry is explained. Understanding the factors that contribute to the emergence of a successful venture capital industry is important for academics, VC associations, policy-making institutions, government agencies, and investors themselves. VENTURE CAPITAL IN INDIA:- In India, the Venture Capital plays a vital role in the development and growth of innovative entrepreneurships. Venture Capital activity in the past was possibly done by the developmental financial institutions like IDBI, ICICI and State Financial Corporations. These institutions promoted entities in the private sector with debt as an instrument of funding. For a long time, funds raised from public were used as a source of Venture Capital. This source however depended a lot on the market vagaries. And with the minimum paid up capital requirements being raised for listing at the stock exchanges, it became difficult for smaller firms with viable projects to raise funds from public. In India, the need for Venture Capital was recognised in the 7th five year plan and long term fiscal policy of GOI. In 1973 a committee on Development of small and medium enterprises highlighted the need to faster VC as a source of funding new entrepreneurs and technology. VC financing really started in India in 1988 with the formation of Technology Development and Information Company of India Ltd. (TDICI) promoted by ICICI and UTI. The first private VC fund was sponsored by Credit Capital Finance Corporation (CFC) and promoted by Bank of India, Asian Development Bank and the Commonwealth Development Corporation viz. Credit Capital Venture Fund. At the same time Gujarat Venture Finance Ltd. and APIDC Venture Capital Ltd. were started by state level financial institutions. VENTURE CAPITAL INVESTMENTS IN INDIA:- The venture capital investment in India till the year 2001 was continuously increased and thereby drastically reduced. It is estimated that there was a tremendous growth by almost 327 percent in 1998-99, 132 percent in 1999-00, and 40 percent in 2000-01 thereafter venture capital investors slow down their investment. Surprisingly, there was a negative growth of 4 percent in 2001-02 it was continued and a 54 percent drastic reduction was recorded in the year 2002-2003. TYPES OF VENTURE CAPITAL FUNDS:- Generally, there are three types of organised or institutional venture capital funds: venture capital funds set up by angel investors, that is, high net worth individual investors; venture capital subsidiaries of corporations and private venture capital firms/ funds. Venture capital subsidiaries are established by major corporations, commercial bank holding companies and other financial institutions. Venture funds in India can be classified on the basis of the type of promoters. VCFs promoted by the Central govt. controlled development financial institutions such as TDICI, by ICICI, Risk capital and Technology Finance Corporation Limited (RCTFC) by the Industrial Finance Corporation of India (IFCI) and Risk Capital Fund by IDBI. VCFs promoted by the state government-controlled development finance institutions such as Andhra Pradesh Venture Capital Limited (APVCL) by Andhra Pradesh State Finance Corporation (APSFC) and Gujarat Venture Finance Company Limited (GVCFL) by Gujarat Industrial Investment Corporation (GIIC). VCFs promoted by Public Sector banks such as Canfina by Canara Bank and SBI-Cap by State Bank of India. VCFs promoted by the foreign banks or private sector companies and financial institutions such as Indus Venture Fund, Credit Capital Venture Fund and Grindlays India Development Fund. VENTURE CAPITAL FUNDING:- Venture capitalists are typically very selective in deciding what to invest in; as a rule of thumb, a fund may invest in one in four hundred opportunities presented to it. Funds are most interested in ventures with exceptionally high growth potential, as only such opportunities are likely capable of providing the financial returns and successful exit event within the required timeframe (typically 3-7 years) that venture capitalists expect. Venture capitalists also are expected to nurture the companies in which they invest, in order to increase the likelihood of reaching an IPO stage when valuations are favorable. Venture capitalists typically assist at four stages in the companys development: Idea generation; Start-up; Ramp up; and Exit There are typically six stages of financing offered in Venture Capital, that correspond to these stages of a companys development. Seed Money: Low level financing needed to prove a new idea (Often provided by angel investors) Start-up: Early stage firms that need funding for expenses associated with marketing and product development First-Round: Early sales and manufacturing funds Second-Round: Working capital for early stage companies that are selling product, but not yet turning a profit Third-Round: Also called Mezzanine financing, this is expansion money for a newly profitable company Fourth-Round: Also called bridge financing, 4th round is intended to finance the going public process WHAT DO VCS LOOK FOR? Venture capitalists are higher risk investors and, in accepting these risks, they desire a higher return on their investment. The venture capitalist manages the risk/reward ratio by only investing in businesses which fit their investment criteria and after having completed extensive due diligence. Venture capitalists have differing operating approaches. These differences may relate to location of the business, the size of the investment, the stage of the company, industry specialization, structure of the investment and involvement of the venture capitalists in the companies activities. The entrepreneur should not be discouraged if one venture capitalist does not wish to proceed with an investment in the company. The rejection may not be a reflection of the quality of the business, but rather a matter of the business not fitting with the venture capitalists particular investment criteria. Often entrepreneurs may want to ask the venture capitalist for other firms that might be interested in the investment opportunity. VENTURE CAPITAL IS NOT SUITABLE FOR ALL BUSINESSES, AS A VENTURE CAPITALIST TYPICALLY SEEKS : Superior Businesses:- Venture capitalists look for companies with superior products or services targeted at large, fast growing or untapped markets with a defensible strategic position such as intellectual property or patents. Quality and Depth of Management:- Venture capitalists must be confident that the firm has the quality and depth in the management team to achieve its aspirations. Venture capitalists seldom seek managerial control, rather they want to add value to the investment where they have particular skills including fund raising, mergers and acquisitions, international marketing, product development, and networks. Appropriate Investment Structure:- As well as the requirement of being an attractive business opportunity, the venture capitalist will also seek to structure a deal to produce the anticipated financial returns to investors. This includes making an investment at a reasonable price per share (valuation). Exit Opportunity:- Lastly, venture capitalists look for the clear exit opportunity for their investment such as public listing or a third party acquisition of the investee company. Once a short list of appropriate venture capitalists has been selected, the entrepreneur can proceed to identify which investors match their funding requirements. At this point, the entrepreneur should contact the venture capital firm and identify an investment manager as an initial contact point. The venture capital firm will ask prospective investee companies for information concerning the product or service, the market analysis, how the company operates, the investment required and how it is to be used, financial projections, and importantly questions about the management team. In reality, all of the above questions should be answered in the Business Plan. Assuming the venture capitalist expresses interest in the investment opportunity, a good business plan is a pre-requisite. METHODS OF VENTURE FINANCING:- Venture capital is typically available in three forms in India, they are: Equity : All VCFs in India provide equity but generally their contribution does not exceed 49 percent of the total equity capital. Thus, the effective control and majority ownership of the firm remains with the entrepreneur. They buy shares of an enterprise with an intention to ultimately sell them off to make capital gains. Conditional Loan: It is repayable in the form of a royalty after the venture is able to generate sales. No interest is paid on such loans. In India, VCFs charge royalty ranging between 2 to 15 percent; actual rate depends on other factors of the venture such as gestation period, cost-flow patterns, riskiness and other factors of the enterprise. Income Note : It is a hybrid security which combines the features of both conventional loan and conditional loan. The entrepreneur has to pay both interest and royalty on sales, but at substantially low rates. Other Financing Methods: A few venture capitalists, particularly in the private sector, have started introducing innovative financial securities like participating debentures, introduced by TCFC is an example. VENTURE CAPITALISTS INVESTING IN INDIA:- For a very long time, Silicon Valley venture capitalists only invested locally. However, throughout the years, they expanded their investments worldwide. Most recently, Matrix Partners, a leading American venture capitalist firm, had announced a $150 million India fund, where they will provide internet, mobile, media, entertainment, leisure, and travel services to customers in Mumbai. Sequoia Capital, a Silicon Valley-based VC firm, wanted to take advantage of investing in start-up companies and had acquired West bridge Capital, an Indian firm, for $350 million. It is no wonder that venture capitalist investments in India have risen dramatically within the past few years. From 2005 to 2007, VC investments in India grew from $320 million to about $777 million, respectively. Some important Venture Capital Funds in India:- APIDC Venture Capital Limited , 1102, Babukhan Estate, Hyderabad 500 001 Canbank Venture Capital Fund Limited, IInd Floor, Kareem Towers, Bangalore Gujarat Venture Capital Fund 1997, Ashram Road, Ahmedabad 380 009 Industrial Venture Capital Limited, Thyagaraya Road, Chennai 600 017 Auto Ancillary Fund Opp. Signals Enclave, New Delhi 110 010 Gujarat Venture Capital Fund 1995 Ashram Road Ahmedabad 380 009 Karnataka Information Technology Venture Capital Fund Cunningham Rd Bangalore India Auto Ancillary Fund Nariman Point, Mumbai 400 021 Information Technology Fund, Nariman Point, Mumbai 400 021 Tamilnadu Infotech Fund Nariman Point, Mumbai 400 021 Orissa Venture Capital Fund Nariman Point Mumbai 400 021 Uttar Pradesh Venture Capital Fund Nariman Point, Mumbai 400 021 SICOM Venture Capital Fund Nariman Point Mumbai 400 021 Punjab Infotech Venture Fund 18 Himalaya Marg, Chandigarh 160 017 National venture fund for software and information technology industry Nariman. DHFL VENTURE CAPITAL INDIA PVT LTD:- DHFL Venture Capital India Pvt. Ltd. (DVCI) provides advisory, managerial and consultancy services to Venture Capital Funds, Venture Capital Managements and Venture Capital Undertakings, related to Indian Real Estate. DVCI is promoted by Dewan Housing Finance Corporation Limited (DHFL), Indias premier second largest housing finance company in the private sector. The Company is presently providing investment management services to DHFL Venture Capital Fund. DHFL Venture Capital Fund was launched in Feb 2006, one of the first private equity Real estate funds in India. The fund is registered with Securities and Exchange Board of India. CANBANK:- Canaan Partners (Canaan) is a global venture capital firm focusing on investments in early stage companies in the technology and healthcare sectors. The firms technology group focuses on digital media, communications, enterprise software, semiconductors, and cleantech. The healthcare group focuses on biopharmaceuticals, devices, and diagnostics. Founded in 1987, the firm has offices in Menlo Park, California; Westport, Connecticut; Gurgaon, India; and Herzliya, Israel. Since inception, Canaan has raised eight funds to date and as of 2009 manages $3 billion in capital. Canbank Venture Capital Fund Ltd (CVCFL) is a wholly owned Subsidiary of Canara Bank. Canbank Venture Capital Fund is Indias First and Only Public Sector Bank sponsored Venture Capital Fund, set up in 1989. The Fund is registered with SEBI. Four Venture Capital Funds with an aggregate corpus of around INR 1200 Million launched till date. The portfolio investments are spread across diverse industrial segments. A Case on Technology Development Information Company Of India Ltd. TDICI was incorporated in January 1988 with the support of the ICICI and the UTI. The countrys first venture fund managed by the TDICI called VECAUS ( Venture Capital Units Scheme) was started with an initial corpus of Rs.20 crore and was completely committed to 37 small and medium enterprises. The first project of the TDICI was loan and equity to a computer software company called Kale Consultants. Present Status: At present the TDICI is administering two UTI -mobilised funds under VECAUS-I and II, totaling Rs.120 crore. the Rs.20 crore invested under the first fund, VECAUS-I, has already yielded returns totaling Rs. 16 crore to its investors. Some of the projects financed by the TDICI are discussed below. MASTEK , a Mumbai based software firm, in which the TDICI invested Rs.42 lakh in equity in 1989, went public just three ye