Observation of Different Photons When Elements Are Heated (Chem Lab)

Observation of Different Photons when Elements are Heated Introduction: The bright line spectrum is the range of colorful lights that are emitted from an atom in its excited state. A â€Å"normal† atom, or an atom in its ground state, is when all of the atom’s electrons are in their proper energy level. When an atom is in its excited state, electrons jump to different energy levels making them unstable. As the electron tries to get back to its respective energy level, energy is emitted in the form of light (photons).Every element emits a different color that can be categorized into the bright line spectrum. Different elements give off different colors when heated because they all have different chemical properties, therefore, they will react differently under high temperatures. For example, [1] strontium, lithium carbonate, and strontium carbonate are often used in fireworks to create a red color. Calcium may be used to create orange, sodium for yellow, aluminum for whi te, barium chloride for green, copper for blue, strontium and copper for purple, and titanium for silver.Even though all elements give off unique colors when heated, it is impossible to identify all elements with the naked eye by doing this test because you have to know what color the element burns and sometimes the elements emit very similar colors. In this experiment, five known elements will be put under extreme heat to observe the color of the light emitted. Then, three unknown elements will be determined based upon the results of the known elements. Materials: 1. 2. Bunsen burner 3. Matches 4. Forceps 5. Wooden toothpicks 6. Sample of liquid calcium 7.Sample of liquid barium 8. Sample of liquid lithium 9. Sample of liquid sodium 10. Sample of liquid strontium 11. Three unknown liquid samples Procedure: 1. Turn on the gas for the Bunsen burner and light it with a match. 2. Using the forceps, take a toothpick and dip it into the calcium sample. Hold it in the sample for a few sec onds to make sure that the sample has soaked in. 3. Stick the toothpick into the flame from the side, still using the forceps. 4. Record the color seen. 5. Repeat steps 2-4 for the rest of the samples. 6. Turn the gas off. 7.When finished, compare the results of the known elements to the unknown elements to determine what they are; they will have the same color. [1]- http://chemistry. about. com/od/fireworkspyrotechnics/a/fireworkcolors. htm Results: Element Tested| Color it Burned| Determined to Be| Calcium| Orange| -| Barium| Yellow| -| Lithium| Red| -| Sodium| Yellow-Orange | -| Strontium| Darker Red | -| Unknown 1| Orange | Calcium| Unknown 2| Yellow| Barium| Unknown 3| Red| Lithium| Conclusion: In conclusion, the unknown elements were able to be determined because their emitted color matched those of calcium, barium, and lithium.This method for determining different elements in a controlled experiment, however, I don’t think this method would be effective for determining any unknown element. There are many elements and they may burn unique colors but often times, they are similar. For example, while performing this experiment, it was difficult to determine if unknown element1 was calcium or sodium because they both burned an orangey type color. It is possible that the toothpicks used in this lab got contaminated because someone may have touched them with their hands.If this is the case, then the elements may have burned a different color than they were supposed to. When performing this experiment, it was observed that the colors of the flames of each sample were different. This is because each element has a different chemical property. For the element that burned a similar color, this may be because they have similar, but different, chemical properties. This method of identifying elements in real life may be used when looking at fireworks. Fireworks are different elements set on fire; the different colors that are seen are the different elements re turning to their ground state.

Counrywide Financial

Countrywide Financial: The Subprime Meltdown 1. Are subprime loans an Unethical financial instrument, or are they ethical but misused in a way that created ethical issues? In my opinion I think subprime loans is an ethical in some ways but for the most part it’s got misused. One way that I think subprime was misused was the fact that when the economy began to slow down, people started working more and earning less money, subprime lending continued to lend to increasingly risky buyers.Another cause of misusing subprime lending was the fact that they allowed real estate appraisers to inflate the value of a home to insure loans would go through 2. Discuss the ethical issue that caused the downfall of countrywide Financial. One of the Ethical issue that cause the downfall of countrywide financial is the allegations that accused them of increasing its profit by offering subprime loans to people who qualified for regular loans.Another Ethical issue that caused countrywide financial to there downfall was the fact that they gave out liar loans. Liar loans were loans that required no proof of borrowers income or assets allowing consumers to purchase homes while having few or no assets. Many homeowners with liar loans could not pay their mortgages nor were they able to refinance their homes. 3. How should Bank of America deal with potential ethical and legal misconduct discovered at countrywide?One of the ways I think Bank of America should deal with potential ethical and legal misconduct is by dealing with all the lawsuits that have been filed against the company for dumping homeowners with predatory loan practices. Something else I think Bank of America should start doing is managing Countrywide’s debt by helping homeowners by reducing there interest rate so the foreclosure rate could get lower.

The Law Of Succession Essay Example | Topics and Well Written Essays - 2500 words

The Law Of Succession - Essay Example n behalf of the deceased. The intestacy rules, subject to reforms/amendments from time to time, being primarily governed by statues, are cited as a "will made by Parliament based upon the presumed wishes of the deceased." The present paper shall attempt to analyse the proposition to understand how rules of intestacy are indeed a "will made by the Parliament" and to examine whether, and to what extent the rules reflect the will of the deceased. In doing so, it shall first understand the provisions of intestate wealth distribution covered in statues and leading case laws and then examine the public opinion as well as reform proposals and other recommendations. The current law of intestacy in the U.K. is enacted in the Administration of Estates Act 1925 (AEA 1925) as amended, bounded by procedural legislations. Before analysing the provisions of AEA, 1925, a brief understanding of the evolution of intestacy rules may be worthwhile as a backdrop to the analysis. Before 1926, intestate succession to realty was governed by the rules of inheritance, accordingly realty passed to the heir-at-law, who was usually the eldest son. If there were no surviving sons, or their issue, realty devolved equally on the daughters of the intestate. The next entitled were the brothers and sisters of the intestate, or their issue; however, after the Inheritance Act 1833 the intestate's parents were given priority over brothers and sisters. If there were no next-of-kin, the realty passed to the intestate's lord or the Crown as 'bona vacantia.' The intestate's widow was strictly not entitled, but under the customary rules of dower, the widow became entitled to one-third of her husband's realty on his death. A widower took a life interest - defined as curtesy -- in the whole of his wife's realty. Similar rules applied to personalty, being distributed under the statutory scheme covered under the Statutes of Distribution 1670-1685.4 The AEA 1925 repealed the previous rules, both as regards succession to realty and personalty, giving primacy to the surviving spouse, and also ending the customary difference between widows and widowers as to entitlement. After 1925, the surviving spouse took the whole estate, the spouse being entitled to a statutory legacy of 1,000, the personal chattels of the intestate and a life interest in half the residue if there were issue. The Intestates' Estates Act 1952, which followed the "Morton report,"5 introduced major changes --the surviving spouse was also given the right to appropriate the matrimonial home and the statutory legacy was increased to 5,000. However, the 1952 Act also made Inheritance (Family Provision) Act 1938 applicable to intestacy, introducing flexibility by allowing certain family members of the

Slavery Throught The World Research Paper Example | Topics and Well Written Essays - 1250 words

Slavery Throught The World - Research Paper Example The history of human civilization is the most explicit document of the fact that corruptible capacity of power can be enhanced to such an elaborate extent that it finally gives birth to a situation of brutal aggression of one man or a community over another less powerful individual or community. Aristotle in Politics suggested quite prophetically that â€Å"†¦ [the] greatest crimes are caused by excess and not by necessity. Men do not become tyrants in order that they may not suffer cold; and hence, great is the honor bestowed, not on him who kills a thief, but on him who kills a tyrant† (Aristotle, 1932, p. 33). Thesis Statement: Judging the factors that are responsible behind genesis of slavery and helping in to take different shapes according to the changing course of time, it can be said that man’s insatiable hunger to gain power, in terms of money and recognition, his natural desire to survive as the fittest being and finally his indomitable desire to enjoy all the rights that society has enshrined to him even at the cost of depriving others, are main reasons that introduced the evil of slavery on the ideological backdrop of an equal and humanitarian existence. Most of the modern philosophers are of opinion that human interaction and development of human relations, both are dependent on respective person’s perception of power and how they are interpreting scope of such power. Max Weber defines power as an â€Å"†¦ [opportunity] existing within a social relationship which permits one to carry out one’s will even against resistance and regardless of the basis on which this opportunity rests† (Weber; Cited in Patterson, 1982, p. 1). One of the greatest philosophers of recent times and famous post-structuralist, Michel Foucault, though has defined power in a much simple way, suggesting that â€Å"power is a relation between forces, or rather every relation between forces is a ‘power relation’† (Deleuze,and

Thatcherism Essay Example | Topics and Well Written Essays - 1000 words

Thatcherism - Essay Example Thatcherism has been rooted in the individualist views of 19th and 20th century British political parties. However from a contemporary viewpoint, Thatcherism has been famously associated with opposition to join the European Union, which according to some was aimed at eroding Britain's sovereignty. In a famous Bruges Speech, 1988 Thatcher stated, '"We have not successfully rolled back the frontiers of the state in Britain, only to see them re-imposed at a European level, with a European super state exercising a new dominance from Brussels." (Bruges Speech from BBC, 2000). This would clearly indicate the perceived threats of joining the European Union completely which in turn led to Britain emphasizing on its own border controls and heightened sovereignty. Post war effects of Thatcherism have been clearly perceived within British politics and some elements of Thatcherism such as controlling public expenditure and promoting personal achievements have also been incorporated in the policy approach of New Labour government from 1997. However unlike Thatcherism, the Blair government has put greater emphasis on social justice and has focused on promoting social inclusion of the excluded groups and classes. It is important to understand the impact of Thatcherism th... tors as British gas, British telecom and British steel along with curbing powers of the trade unions and local government, promoting individual achievements and private enterprises and also strengthening powers of the central government (BBC, 2006). The focus was to bring in higher consumerism and increase levels of private investments. Public expenditure was cut down and monitored and the local governments faced severe restrictions with rate capping and poll tax in 1989. With loss of support from unions and controversies over poll tax, Thatcher had to leave although this was followed by a period of economic recession and high unemployment and also divisions in society. As Thatcherism encouraged privatisation with gas, steel and telecommunications services, private ownership was also given to providers of health care services. This increased privatisation however led to widening of the rich poor gap and increased divisions in society. Clarke (1999) examined Thatcherism and considered the strengths and weaknesses of the political outlook highlighting the unique financial strategy and monetarist economic policy of the Conservative government. Clarke points out that even if Thatcher's economic policies were uncertain in theory and practice; they were ideologically applicable in terms of methods and objectives. Clarke highlighted the personal dimension of Thatcherism arguing that the rise and fall of Thatcherism could be reduced to definite personal attributes of Thatcher in terms of leadership and control. This however may not be completely true as Thatcher's policies on privatisation and controlling of local governments and trade unions could have bee n the main reason for the unpopularity of Thatcherism during the late 1980s. In this regard, Heath et al (2001)

Critical Thinking Reflection Essay Example | Topics and Well Written Essays - 750 words

Critical Thinking Reflection - Essay Example Most government in the world are developing methods to improve on the lives of their citizens. America is no exception. This part of the paper will be looking at how America can reduce its citizens’ poverty. There are several methods through which the issue of poverty can be addressed. The most important is through creating jobs. The best pathway to avert poverty is through a decent income. America needs about 5.6 million new jobs so that the country can avoid heading deeper into poverty (Sherman, 2011). To create jobs, the federal government should consider investing in strategies such as rebuilding infrastructure, renovating abandoned housing structures, developing non-renewable energy, and so on. Raising the minimum wage is also another method of combating inequality. Today’s minimum wage is $7.25 which cannot be able to lift a family of three out of poverty. If the minimum wage is raised from that figure to about $10.10, nearly 20 percent of children will see their parents receive a raise which will reduce poverty (Wage & Primer, 2014). Gender inequality is one of the contributing factors of poverty in most parts of the world. Women usually earn less than their male counterparts even when they are doing the same job and have same level of qualification. If the wage gap is closed, poverty in women will be cut by half and will add almost half a trillion dollars to the US GDP (Seguino, 2009). To bridge this gap, employers should be held accountable if they have any discriminatory salary practices. The above question required the use of critical thinking to develop not only a logical but also relevant and accurate response. In America, poverty is not as pervasive as it is in countries for instance in Asia or Africa. The process of critical thinking helped in gathering the information presented in Part â€Å"1† of the paper. To identify the actual number of people that are in poverty, it is crucial to first understand and define what poverty is, which I

Gender Socialization Essay Example | Topics and Well Written Essays - 1500 words

Gender Socialization - Essay Example According to Shedko (n.d.), gender roles are defined as a set of behavioral norms which are associated with males and females in a given society (p. 82). To understand gender roles, we must evaluate the three types of societies that are found in the current world which include the traditional society, modern society and the cross-cultural society. Gender roles involves a complex process that involves a sequence of norms, social rules and other values that are attached with that gender. Deviation from the same has serious consequences especially in the traditionally set societies. The models of gender role that have been developed to help understand the topic include the total role segregation model and the model of total integration of roles. Gender socialization, on the other hand, involves the gradual process of learning the behavior and attitudes that are considered appropriate for a given sex. However, it is important to note that the behaviors and attitudes are not fixed and they may be varying from one society to the other. The expectations that are tied to the given behaviors keep on changing. Considering the research that has been done on the topic, the people interviewed express their view that the two genders should have different gender roles. On top of that, they feel that the two should be treated differently. This is a common experience in many societies where the boys and the girls will even have different rooms that are equipped differently and the boys are accorded different duties and responsibilities compared to the ones that are given to the girls. Gender stereotypes are created in this manner.  

Business Plan Essay Example | Topics and Well Written Essays - 1250 words - 3

Business Plan - Essay Example It serves as a â€Å"bridge way† to three continents Europe, Asia and Africa. It boasts of an educated English-speaking population, moderate living costs, good airlines and telecommunication connections (US Department of State. 2007). Cyprus Financial Limited’s objectives are to make an equal and fair profit in the business-to-business and business-to-consumer financial services industry. This goal is to be reached by attaining the numbers presented in the sales forecast and financial plan topics. 1. Selling and Marketing Power – The services company’s products are made attractive in order to maintain a certain percentage of clients. CFL demonstrates a successful approach in converting its reputation into an excellent brand to ensure the conversion of its clients’ knowledge into their intellectual property, thus creating value for its clients. 2. Create multiple opportunities from a single line of expertise – Cyprus Financial Limited is able to leverage from a single pool of expertise into multiple revenue generation opportunities: business development, market development, personal financial planning, corporate management services, and tax and financial consulting. Cyprus is now living in an interesting era: the process of change from the "old economy" to the "global new economy" brings a tremendous development growth of e-commerce, mobility of capital, and liberalization to the region. Since the new global economy brings new economics, new market structures, new industry structures, and new company structures, the profile of customers has also changed. Customers have evolved from "solution demander" to "value demander," and from "clients† to â€Å"business partners†. CFL is a Private Limited Company and shall be headed by a Director, with two full time Account Managers. These account managers will handle all end-to-end processes, from sourcing clients to providing financial consultancy services, and shall report directly to the Director.

To what extent do you believe that the RIPA 2000 balances Respect for Essay

To what extent do you believe that the RIPA 2000 balances Respect for Private Life with a Need to Protect the Public - Essay Example It is argued that the balance is in favour of protection of the public. The Right to Privacy In order to determine the extent to which the tensions between protection of the public and protection of the right to privacy are balanced in the context of online communications via RIPA, it is first necessary to analyse the legal framework relative to the right to privacy. ... However, where those exceptions exist such as the protection of the public or the prevention of crime, interference in the individual’s right to privacy must be according to law. In this regard, the European Court of Human Rights (EHR) ruled that any such laws or regulatory regime must be clear enough so that average citizens is aware that he or she does not have a reasonable expectation of privacy in the circumstances allowing state interference in private life.6 Obviously where an individual engages in certain activities in public, there can be no reasonable expectation of privacy.7 Obviously online communications are activities conducted in public and thus there should be no reasonable expectation of privacy, thus no breach of Article 8(1).8 Even so, the European Court of Human Rights has held that the mere fact that activities are conducted in public does not automatically mean that there can be no reasonable expectation of privacy.9 It therefore follows that if an activit y is conducted in public and there is a reasonable expectation of privacy, the protection of privacy as provided for under Article 8 of the ECHR will arise. Online communications can be regarded as public activities but can raise complex questions as to whether or not there is a reasonable expectation of privacy. For example, posting in a public forum online or blogging are probably as public as an individual carrying a â€Å"banner† in public can reasonably expect for it to be read by almost anyone.10 Complicating matters for online communications relative to a reasonable expectation of privacy, online users often have several tools available to them for â€Å"restricting access.†11 On the other hands, there are instances in online communications where the user obviously has a

IS CBT EFFECTIVE IN MANAGING SCHIZOPHRENIA Essay

IS CBT EFFECTIVE IN MANAGING SCHIZOPHRENIA - Essay Example According to the http://www.schizophrenia.com/szfacts.htm, there is no cure for schizophrenia so all talk of "treatment" or "therapy" may pertain to â€Å"management† and not actual â€Å"treatment† of the condition. In this work, we review three articles that I consider important in how cognitive behaviour therapy can be useful in the management and treatment of schizophrenia. We review three studies: Barrowclough et al. (2006), Turkington et al. (2006a) and Turkington et al. (2006b). Barrowclough et al. (2006) sought to evaluate the effectiveness of group cognitive behavioural therapy for schizophrenia. To do so, 113 people with chronic schizophrenia, the Barrowclough et al. study assigned each of the 113 people to receive either the group cognitive-behavioural therapy or the usual treatment. The primary measure employed to assess the efficacy of treatment were the positive symptom improvement on the positive and negative syndrome scales while the secondary measures w ere â€Å"secondary outcome measures† like symptoms, functioning, relapses, hopelessness and self-esteem (Barrowclough et al. 2006, p. 527). The finding of Barrowclough et al. (2006) is that there was no significant difference between the two methods of treatment. However, the individuals subjected to group cognitive-behavioural therapy have a reduction in â€Å"feelings of hopelessness and in low self-esteem.† Thus, the conclusion of the Barrowclough et al. (2006) study is that â€Å"although the group cognitive-behavioural therapy may not be the optimum treatment for reducing hallucinations and delusions, it may have important benefits, including feeling less negative about oneself and less hopeless† (p. 527). The Barrowclough et al. (2006) study exhibited adequate adherence to professional and research ethics. Perhaps, an important indication of this is that the study sought an ethical agreement with the local research ethics committee. The inclusion criteria for the study are very clear in Barrowclough et al. (2006, p. 527). One of the inclusion criteria is that informed consent from the patient was required although the study does not discuss whether the informed consent is merely verbal or written or whether the relatives or the guardians of the patients were made co-signatories in the informed consent mechanism. I believe that concurrence of relatives or guardians may be necessary because schizophrenic patients may be considered legally incompetent to respond to requests for consent (even if symptoms have not exacerbated six months prior to the study). In building cognitive behavioural therapy groups, the study built groups from the 113 individuals who were the subject of research. Those who administered the group cognitive-behavioural therapy composed another group who operated a program independent of the Barrowclough et al. research team. In the opinion of this researcher, the Barrowclough made due consideration for the welfare o f patients by putting in their inclusion criteria the requirement that the patient had one month of stabilisation if they had experienced a symptom exacerbation in the last six months (Barrowclough et al. 2006, p. 527). At the same time, however, the inclusion criterion implies that the results of the study should be qualified or that the positive benefits of the group cognitive behavioural therapy for schizophrenia, if any, apply only to that population

American Indians Essay Example for Free

American Indians Essay The people now known as Indians or Native Americans were the first people to live in the Americas. They had been living there for thousands of years before any Europeans arrived. The Vikings explored the east coast of North America around A. D. 1000 and had some contact with Indians (Watson Howell 1980). But lasting contact between Indians and Europeans began with Christopher Columbuss voyages to the Americas. In 1492, Columbus sailed across the Atlantic Ocean from Spain. He was seeking a short sea route to the Indies, which then included India, China, the East Indies, and Japan. Europeans did not then know that North and South America existed. When Columbus landed in what is now known as the West Indies, he did not realize he had come to a New World. He thought he had reached the Indies, and so he called the people he met Indians. Almost every Indian group had its own name. Many of these names reflected the pride of each group in itself and its way of life. For example, the Delaware Indians of eastern North America called themselves Lenape, which means genuine people. Today, many Indians refer to themselves as Native Americans. The first Indians came to the New World from Siberia, in Asia. Most scientists think they arrived at least 15,000 years ago. At that time huge ice sheets covered much of the northern half of the earth. The Bering Strait, which today is a narrow area of water that separates Asia and North America, was easily walked across by the Indians who were following the animals that they were hunting. Much later this ice sheet melted and the land bridge became covered with water. By then, Indian groups had already spread throughout the New World, all over North and South America. These Indian groups developed different cultures because of the different climates and landforms in the regions in which they settled. Body Anthropologists, scientists who study human culture, classify the hundreds of North and South American Indian tribes into groups of tribes that are alike. These groups are called culture areas. Some of the cultures of North America are the Arctic; the Northeast, or Eastern Woodlands; the Plains; and Southwest. The Indians spoke hundreds of different languages and had many different ways of life. Some groups lived in great cities and others in small villages. The Aztec and the Maya of Central America built large cities. Some of the Aztec cities had as many as 100,000 people. The Maya built special buildings in which they studied the moon, the stars, and the sun. They also developed a calendar and a system of writing. Many of the Indians of Eastern North America lived in villages. They hunted and farmed, growing such crops as beans, corns and squash (Bains, 1985). Most of the Indians were friendly at first and taught the newcomers many things. The European explorers followed Indian trails to sources of water and deposits of copper, gold, silver, turquoise, and other minerals. The Indians taught them to make snowshoes and sleds and to travel by canoe. Food was another of the Indians important gifts. The Indians grew many foods that the newcomers had never heard of, such as avocados, corn, peanuts, peppers, pineapples, potatoes, squash, and tomatoes. They also introduced the whites to tobacco. The Indians, in turn, learned much from the whites. The Europeans brought many goods that were new to the Indians. These goods included metal tools, guns, and liquor. The Europeans also brought cattle and horses, which were unknown to the Indians. The Europeans and the Indians had widely different ways of life. Some Europeans tried to understand the Indians ways and treated them fairly. But others cheated the Indians and took their land. When the Indians fought back, thousands of them were killed in battle. At first, they had only bows and arrows and spears, but the Europeans had guns. Even more Indians died from measles, smallpox, and other new diseases introduced by the whites. As the Europeans moved westward across North America, they became a greater threat to the Indian way of life. Finally, most of the remaining Indians were moved onto reservations. Most daily activities of an Indian family centered on providing the main necessities of life such as food, clothing, and shelter. Men and women usually had separate tasks. For example, both men and women were often involved in providing food. But they did so in different ways. In some areas, the women gathered wild plants for food, and the men hunted. In the Northeast and Southeast culture areas, the men hunted, and the women farmed the land. In parts of what are now Arizona and New Mexico and in Middle and South America, the men did the farming. The women gathered plants. In all areas, women were generally responsible for preparing the food. Many Indians married at an early age, the girls between 13 and 15 and the boys between 15 and 20. In some Indian tribes, the parents or other relatives chose the marriage partners for the young people. In other tribes, especially those of North America, a young man could select his own mate. He had to convince the girl and her parents that he would make a suitable husband. In many cases, he offered them valuable gifts to win their approval. Throughout most of the New World, marriage was a family affair and not a religious ceremony. The boys family usually gave presents to the brides family. Many newly married couples lived with the girls family and the husband worked for her family until the birth of a child. Then the couple might establish their own home. But they generally did not move to a new home in a new area. Many other newly married couples joined an existing family group or lived close to one. Some of the couples moved in with other relatives of the woman or with the relatives of the man. This extended family shared with the daily work of the household, including the raising of children. Many Indian groups allowed men to have more than one wife. But this practice was common only among rich or powerful men. After a man died, his wife would often live with his brother as husband and wife even if the brother was already married. Similarly, if a woman died, her family would probably be expected to give her husband another unmarried daughter to replace her. Most Indian families were small because many children died at birth or as babies. Indian children were praised when they behaved well and shamed when they misbehaved. Only the Aztec and Inca tribes had regular schools. Boys and girls of other tribes learned to perform mens and womens jobs by helping their parents and older brothers and sisters. After most boys reached their early teens, they went through a test of strength or bravery called an initiation ceremony. Many went without food for a long period or lived alone in the wilderness. In some tribes, a boy was expected to have a vision of the spirit that would become his lifelong guardian. Some groups also had initiation ceremonies for girls. A teenager who successfully completed an initiation ceremony was considered an adult and ready to be married. Food that Indians ate depended on where they lived. Indian tribes that lived on the plains of the United States, where buffalo and other game were plentiful, ate mainly meat. Meat was also the principal food of those Indians who inhabited the woodlands and tundra (frigid treeless plain) of Alaska and Canada. The Pueblo of the Southwest and other farming groups lived chiefly on beans, corn, and squash. Potatoes were an important crop among the Inca. MacNeish (1992) stated that Indians in the tropical areas of South America made bread from the roots of bitter cassava, a small shrub. Tribes that lived near water caught fish and gathered shellfish. Most Indian groups ate berries, nuts, roots, seeds, and wild plants. They also gathered salt and collected maple sap wherever they could. Indians made a kind of tea from such plants as sassafras and wintergreen. Many Indians drank a mild beer that was known as chicha. They made this beer from corn, cassava, peanuts, or potatoes. Indians who ate mostly meat cooked it by roasting, broiling, or boiling. Farming Indians and others who ate chiefly vegetables developed various methods of boiling or baking. They often made pit ovens by lining holes in the ground with hot stones. Indians preserved meat by smoking it or by drying it in the sun. North American Indians mixed dried meat with grease and berries to make a food called pemmican. Most Indians ate with their fingers, but some used spoons made from animal bones, shells, or wood. Indians built many kinds of homes because they lived in different climates and had different building materials available to them (Brandt Guzzi, 1985). Those who moved about a great deal had simple shelters they could carry easily, or they built temporary shelters. Indians who stayed in one place built larger, more permanent homes. Some groups built large houses where many families lived together. Others had simple dwellings that housed only a few people. In some cases, shelter changed with the season. Some Indians in Canada built snow houses during the winter. But in the summer, they lived in tents made of animal hides. In the United States, these Indians are sometimes called Eskimos. In other areas, the Indians covered their tepees with animal skins or with tree bark. Indians at the southern tip of South America also used skins to cover shelters called windbreaks, which were open on one side. Some tribes of the Northwest made cloth of bark and reeds, and the Pueblo wove cotton cloth. The Aztec, Inca, Maya, and some Caribbean tribes wove beautiful cotton and woolen cloth. Indians in the hot South American areas often wore no clothing at all. In many tribes, a man wore only a breechcloth, a narrow band of cloth that passed between the legs and looped over the front and rear of a belt. Women wore simple aprons or skirts. Indians in colder climates wore leggings, shirts, and robes. Some wore sandals or moccasins to protect their feet. Travel by water was the most common means of transportation. Many Indians used bark canoes, which were light and easy to carry. Some large dugout canoes carried as many as 60 people. The Plains tribes used dogs and, later, horses to pull a load-carrying frame called a travois. Andean Indians used alpacas and llamas as beasts of burden. But these animals could not carry heavy loads, so the people themselves carried most of their goods. People often supported a heavy load on their back with a pack strap called a tumpline. Indians of the Arctic and the Northwest Coast and some other areas hunted or fished for most of their food. They also hunted some birds only for the feathers, and they prized the fur of beavers and certain other animals. Indians in the West got most of their food by gathering wild seeds, nuts, and roots. Even in the Southwest and other farming areas, hunting, gathering, and fishing were important. The most important game animals of North and South America included deer; rabbits and other small game: ducks, geese, herons, seals, sea lions, whales, turtles, and snakes. Bear, buffalo, caribou, elk, and moose lived only in North America. Animals that were hunted mainly in South America included the guanaco, jaguar, peccary, rhea, and tapir. Indians hunted with the same kinds of weapons they used in war. Many bows and arrows, spears, and clubs had special features for hunting. For example, some Indians used unsharpened arrows to shoot birds in trees. These arrows stunned the birds so that they fell to the ground. The Hopi stunned small game with a kind of boomerang. The Indians caught fish with harpoons, hooks and lines, spears, and traps and nets. Tribes of the Northwest Coast also used long poles called herring rakes. These poles had jagged points and could catch a number of herring at one time. In tropical South America, Indians stood on river sand bars and shot fish with bows and arrows. Both North and South American Indians used drugs to catch fish. In one method, Indians chopped up certain plants and threw them in the water. These plants stunned the fish. Then the Indians could easily scoop them out of the water. Indians of the Northeast and the Tropical Forest used slash-and-burn farming methods. They cut down a number of trees and burned them. Then they planted their crops among the trunks. The ashes from the burned trees served as fertilizer. Indians in Mexico and the Southern United States raised turkeys. Wars occurred from time to time among the tribes of the Americas. But not all tribes took part in warfare. Many tribes opposed fighting, and others were so small that they did not have enough warriors to fight a war. Many of the Indian leaders who tried to defend their tribes and land against the white people became famous warriors. They included King Philip, a Wampanoag; Pontiac, an Ottawa; Tecumseh, a Shawnee; Osceola, a Seminole; Crazy Horse, of the Sioux; and Geronimo, an Apache. The bow and arrow was probably the most common Indian weapon throughout North and South America. Some South American tribes put poison on their arrowheads. Many Indians fought with spears and war clubs (Steele Galdone 1992). The Indians of eastern North America developed a special type of club known as the tomahawk. A weapon of the Aztec consisted of pieces of obsidian (volcanic glass) stuck into a wooden club. South American Indians used blowguns and slings. Warfare gave Indians a chance to achieve high rank in their tribes. On the Plains, it was considered braver to touch a live enemy and get away than to kill the enemy. This act was known as counting coup â€Å"koo†. Warriors on the Plains carried a coup stick into battle and attempted to touch an enemy with it. Those warriors who counted coup wore eagle feathers as signs of their courage.

Theory, Design And Specification Essay Example for Free

Theory, Design And Specification Essay The focal point of this paper is to adopt a process centered strategy for a healthcare organization keeping mind that while implementing this strategy the 4 focus points i.e. culture, organization, people and control system and instrument would be taken into account. Culture is the mix of values and shared beliefs that formulates the system of an organization. In general sense the culture of an organization is created by the corporate infrastructure which is dependent on the variables such as strategic thinking ability or depth, dedication level of the personnel and the amount of cooperation involved. This entire mix is compositely known a corporate culture of an organization. While adopting a process centered strategy for a healthcare organization it would be important to keep in mind the basic degree of this culture. Organization on the other hand can be divided into two segments in the field of operations. The first is its structure and the second is its process of decision flow. The structure of the organization is instrumental for the accountabilities that enable the company to achieve its objectives or mission. The process of decision flow is the tool that converts the results into coherent patterns that could be termed as implementation that would help in the controlling decision and implementation. People or the human resource element is the most important factor of management strategies and is a wonderful ingredient of strategy implementation projects. It has been seen that without taking the human factor into consideration has yielded negative results for the ultimate success of the company. Thus this factor is to be taken into account as a vital asset of the organization. One of the most important variables for the success of the implementation process is the control system and instruments. The control system and instruments are those assets where on the organization can take and formulate action with more accurate results. For the hospital industry latest and advanced equipments are the key to better service and result. Therefore if the top management are aware of the ability of the machines available and the there are enough means and abilities to control the machines the management would define their strategies accordingly in terms of formulating the optimum level and outputs. In the practical scenario it should be mentioned that adopting a process centered strategy for a healthcare organization keeping mind that the 4 focus points i.e. culture, organization, people and control system and instrument are well evaluated and analyzed. This because these are the factors that can break or make any laid down planning system that has been prepared with taking into notion these essential components. If these four elements are not considered it is evident that a number of circumstances would presumably arise for with the management would never be ready to handle. It should be looked upon that a perfect mix of these four elements has taken place and a well oiled communication system is in place to juxtapose all these elements together for assumed success. For administrative success controlling processes, motivation, planning and demands discipline are the major factors and to achieve it proper mix of culture, organization, people and control system and instrument are invaluable. Reference: Raps, Andreas;Â   Jun 2004; Strategic Finance. Montvale; Vol.85, Iss 12; pg 48, 6 pgs

Importance Of Capital Structure To A Firm Finance Essay

Importance Of Capital Structure To A Firm Finance Essay Capital Structure of a company refers to the composition or make-up of its capitalization and it includes all long-term capital resources, viz. Loans, reserves, shares and bonds,-Gestenberg Introduction Capital Structure is one of the most complex areas of financial decision making because of its interrelationship with other financial decision variables. Poor capital structure decisions can result in high cost of capital thereby lowering the Net Present Values of projects and making more of them unacceptable. Effective capital structure decision can lower the cost of capital , thereby increasing the value of the firm. It is particularly important for small business owners to determine a target capital structure for their firms, since capital is expensive for such small businesses. Capital structure decisions require considering a variety of factors. In general, companies use debt more when they have steady, constant sales levels, assets that have good returns for loans and a high growth rate . On the other hand, companies that have poor credit ratings, conservative management, or high profitability rely on equity capital instead. Capital Structure Capital structure is a business finance term that describes the proportion of a companys capital, or operating money, which is obtained through debt and equity or  hybrid securities [1]. Debt consists of loans and other types of credit that is to be repaid in the future, usually with interest. Equity involves ownership  interest in a corporation in the  form  of common stock or preferred stock. Equity financing does not involve a direct obligation to repay the funds which is in contrast to debt financing,. Instead, equity investors are able to exercise some degree of control over the company as they become part-owners and partners in the business. The goal of a companys capital structure decision is to maximize the gains for the equity shareholders. The optimal capital structure is the one that maximizes the price of the stock and simultaneously minimizes the cost of capital thus striking a balance between risk and return. [2] A firms major decision is its financial decisions which can be analyzed in the theory of Corporate Capital Structure that is based on a model developed by Dodd(1986) and is determined mainly by cost variables- equity, debt and bankruptcy risk and other potential variables such as growth are, profitability and operating leverage. The primary advantage of debt financing is that it allows the founders to retain ownership and control of the company. Equity investors claim does not end until their stock is sold as compared to debt obligations which are limited to the loan repayment period, after which the lender has no further claim on the business. Debt financing tends to be less expensive for small businesses over the long term, though more expensive over the short term, than equity financing. The major disadvantage is that it requires a small business to make regular monthly payments of principal and interest. Due to such regular payments, young companies often experience shortages in cash flow. Debt financings availability is often limited to established businesses which is a disadvantage associated with it. Since lenders primarily seek security for their funds, it can be difficult for unproven businesses to obtain loans. The main advantage of equity financing for small businesses is that there is no obligation to repay the money. The investors in equity financing often prove to be good sources of advice and contacts for small business owners. The main disadvantage of equity financing is that the founders must give up some control of the business. Some sales of equity, such as initial public offerings, can be very complex and expensive to administer. Such equity financing may require complicated legal filings and a great deal of paperwork to comply with various regulations. Features of a Capital Structure Capital structure is that level of debt-equity proportion where the market value per-share is maximum and the cost of capital is minimum. It should have the following features: Profitability/Return: Studies have shown that the relationship between debt-equity ratio and a firms profit margin is such that for a firm which prefers to finance its investments through self-finance are more profitable than firms which finance investment through borrowed capital, firms prefer competing with each other than cooperating and firms use their investment in fixed assets as a strategic variable to affect profitability.[3] Solvency/Risk: Capital Structure of a firm indicates how much the company is leveraged by comparing what it owes to creditors and investors to what it owns. It reveals the degree to which the companys management is willing to fund its operations with debt, rather than equity. Lenders are sensitive about this feature as a high debt-equity ratio will put their loans at risk of being unpaid.[4] Flexibility: Flexibility is the ability to make decisions that the firm thinks are most apt even when others disagree. The level of flexibility the management can have depends on how the firm is financed. Debt offers little flexibility relative to equity. However, the flexibility offered by equity depends on the extent to which shareholders are inclined to agree with managements strategic choices. The flexibility benefit of equity is high only when the share price is high.[5] Conservation/Capacity: If a firm starts with a specific business risk, then the total risk associated with stock and debt is not affected by the capital structure. This is called conservation of risk. Risk is neither created nor destroyed.[6] Debt capacity involves the assessment of the amount of debt that the organization can repay in a timely manner without forfeiting its financial viability.[7] Control: The capital structure of a firm shows when control is allocated to only shareholders and when to others like creditors, or the management team. Generally the shareholders get control when the firms cash flow is sensitive. Also , debt value and firm value are negatively correlated when debtholders have veto power[8]   Determinants of Capital Structure Capital structure of a firm is determined by various internal and external factors. The macro variables of the economy are inflation rate, tax policy of government, capital market condition. The characteristics of an individual firm, termed as micro factors (internal), also affect the capital structure of enterprises. This section presents how the micro-factors affect the capital structure of a firm Size of a Firm: There is a positive relation between the capital structure and size of a firm. The larger the firms the more diversified they are. They have easy access to the capital market, receive higher credit ratings for debt issues, and pay lower interest rate on debt capital. Further, larger firms are less prone to bankruptcy and this implies the less probability of bankruptcy and lower bankruptcy costs. Hence, the lower bankruptcy costs, the higher debt level.[9] Growth Rate: There is a contradictory relation between the growth rate and capital structure. The equity controlled firms tend to invest sub-optimally to get wealth from the enterprises bondholders. They are more flexibility in their choice of future investment. Hence, growth rate is negatively related with long-term debt level.[10] Business Risk: There is a negative relation between the capital structure and business risk. Lesser the stability of the earnings of the enterprises, the greater is the chance of business failure and the greater the weight of bankruptcy costs on enterprise financing decisions. Hence, as business risk increases, the debt level in capital structure of the enterprises should decrease.[11] Dividend Payout: There is an adverse relation between the dividend payout ratio and debt level in capital structure. The low dividend payout ratio means increase in the equity base for debt capital and low probability of going into liquidation. As a result of low probability of bankruptcy, the bankruptcy cost is low. This implies high level of debt in the capital structure.[12] Operating Leverage: The use of fixed cost in production process also affects the capital structure. The high operating leverage-use of higher proportion of fixed cost in the total costs over a period of time-can magnify the variability in future earnings. There is a negative relation between operating leverage and debt level in capital structure. The higher operating leverage, the greater the chance of business failure and the greater will be the weight of bankruptcy costs on enterprise financing decisions. Industry Life Cycle: Firms tend to adopt different financing strategies and a specific hierarchy of decision-making as they progress through the phases of their business life cycle. Debt is fundamental to business activities in the early stages, representing the first choice. However, in the maturity stage, firms re-balance their capital structure, substituting debt for internal capital.[13] Degree of Competition: Debt ratios are reduced as the scope of competition falls. For oligopolies, debt ratios show a significant and positive effect on prices.[14] Company Characteristics: Variables of size and growth opportunity in total assets reveal a positive association with the leverage ratio, however, profitability, growth opportunities in plant, property and equipment, non-debt tax shields and tangibility reveal inverse relation with debt level.[15] Forms of Capital Structure Capital Structure can be of various forms: Horizontal capital Structure: The firm has no component of debt in the financial mix. Expansion of the firm is through equity and retained earnings only. Vertical Capital Structures: The base of the structure is a little amount of equity share capital which serves as the foundation for a super structure of preference share capital and debt. Pyramid Shaped Capital Structure: Large proportion consisting of equity capital and retained earnings. Inverted Pyramid shaped Capital Structure: Small component of equity capital, reasonable retained earnings and increasing component of debt. Replacement Modernization Expansion Diversification Capital Structure Decision Desired Debt-Equity Mix Existing Capital Structure Payout Policy Effect on Return Effect on Risk Effect on Cost of Capital Value of Firm Optimum Capital Structure Capital Budgeting Decision Need for Funds Capital Structure Decision Process Internal Funds Debt External Equity DIFFERENT APPROACHES TO CAPITAL STRUCTURE Weighted Average Cost of Capital It is the expected rate of return on the market value of all the firms securities. Anything that increases the value of the firm also minimizes the WACC if operating income is constant. It is a calculation of a firms cost of capital in which each category of capital is proportionately weighted. All capital sources   common stock, preferred stock, bonds and any other long-term debt   are included in a WACC calculation. The WACC equation  is the cost of each capital component  multiplied by its proportional weight and then summing:   WACC = E/V * Re + D/V * Rd * (1- Tc) Where:   Re = cost of equity   Rd = cost of debt   E = market value of the firms equity   D =  market value of the firms debt   V = E + D   E/V = percentage of financing that is equity   D/V = percentage of financing that is debt   Tc =  corporate tax rate   Assumptions There is no income tax, corporate or personal. The firm believes in paying all of its earnings and dividends. A 100% dividend payout ratio is assumed. Investors have identical probability distributions of operating income for each company. The operating income is not expected to grow or decline over time. A firm can change its capital structure instantaneously without incurring transaction costs. rd represents the cost of debt For 100% dividend payout, re represents cost of equity V = D + E. ra is the overall capitalisation rate of the firm. It can also be expressed as: ra = rd[D/(D+E)] + re[E/(D+E)] NET INCOME APPROACH According to NI approach both the cost of debt and the cost of equity are independent of the capital structure; they remain constant regardless of how much debt the firm uses. This means that, the average cost of capital declines and the firm value increases with debt. This happens because when D/E increases, rd which is lower than re, receives a higher weight in the calculation of ra. This approach has no basis in reality; the optimum capital structure would be 100 per cent debt financing under NI approach. This can be illustrated with the help of a numerical. There are 2 firms A and B similar in all aspects except in the degree of leverage employed. Firm A Firm B Operating income(Rs.) 10,000 10,000 Interest on debt(Rs.) 0 3,000 Equity Earnings(Rs.) 10,000 7,000 Cost of equity capital 10% 10% Cost of debt capital 6% 6% Market Value of equity(Rs.) 1,00,000 70,000 Market value of debt(Rs.) 0 50,000 Total value of the firm(Rs.) 1,00,000 1,20,000 The average cost of capital for firm A is 10%. The average cost of capital for firm B is 8.66% NET OPERATING INCOME It is the opposite of NI Approach. According to NOI approach the value of the firm and the overall capitalization rate are independent of the firms capital structure. That is, ra and rd are constant for all degrees of leverage. Now, re = ra + (ra rd)(D/E) The market capitalizes the firm as a whole at a discount rate which is independent of the firms debt-equity ratio. In the absence of taxes, an individual holding all the debt and equity securities will receive the same cash flows regardless of the capital structure and therefore, value of the company is the same. An increase in the use of debt funds which are cheaper is offset by an increase in the equity capitalization rate. This happens because equity investors seek higher compensation as they are exposed to greater risk from increase in the degree of leverage. They increase the capitalization rate re as the leverage increases. Numerically, this can be explained. Two firms A and B are similar in all aspects except the degree of leverage employed by them. Firm A Firm B Operating income(Rs.) 10,000 10,000 Overall capitalization rate 0.15 0.15 Total market value 66.667 66,667 Interest on debt(Rs.) 1,000 3,000 Debt capitalization rate .10 .10 Market Value of debt(Rs.) 10,000 30,000 Market value of equity(Rs.) 56,667 36,667 Degree of leverage 0.176 0.818 Equity Capitalization for Firm A= (9,000/56,667) = 15.9% Equity Capitalization for Firm B = (7,000/36,667) = 19.1% TRADITIONAL APPROACH The traditional approach argues that moderate degree of debt can lower the firms overall cost of capital and thereby, increase the firm value. The initial increase in the cost of equity is more than offset by the lower cost of debt. But as debt increases, shareholders perceive higher risk and the cost of equity rises until a point is reached at which the advantage of lower cost of debt is more than offset by more expensive equity. The principal implication of the traditional approach is that the cost of capital is dependent on the capital structure and there is an optimal capital structure which minimizes the cost of capital. At this level, the real marginal cost of debt and equity is the same. MODIGLIANI AND MILLER POSITION Similar to NOI Approach Value of the firm is independent to its capital structure i.e. Independence of total valuation and the cost of capital of the firm from its capital structure NOI is purely conceptual, Doesnt provide operational justification Supports NOI and provides behavioral justifications. Assumptions: Capital market is perfect (i)Investors are free to buy and sell (ii) Well informed market (iii) Firm investors can borrow on the same terms (iv) Rational behavior of investors (v) No transaction cost Homogeneous risk class All investors have the same expectations of the firms EBIT No Corporate Tax Preposition I The value of a firm is equal to its expected operating income divided by the discount rate appropriate to its risk class. It is independent of its capital structure.'[16] V= D + E = O/r Where: O is the expected operating income; r is the discount rate applicable to risk class. MM invokes an arbitrage argument to prove the preposition. In equilibrium, identical assets sell for the same price, irrespective of how they are financed. This is also known as the law of conservation of value. Arbitrage Argument Consider two firms U and L, similar in all respects except in their capital structure. Firm U is unlevered, financed by equity alone and firm L is a levered firm. Firm A Firm B Operating income(Rs.) 1,50,000 1,50,000 Interest 0 60,000 Equity Earnings 1,50,000 90,000 Cost of equity 0.15 0.16 Market value of equity 10,00,000 5,62,500 Cost of debt 0.12 Market value of debt 0 5,00,000 Market value of the firm 10,00,000 10,62,500 Average cost of capital 0.15 0.1412 The value of the levered firm is higher than that of the unlevered firm. Such, a situation, argue MM, cannot persist because equity investors would do well to sell their equity in firm L and invest in firm U with personal leverage. For example, if an investor owns 10% equity in firm L, he would: Sell his equity in firm L for Rs. 56,250 Borrow Rs. 50,000, an amount equal to 10% of Ls debt at an interest rate of 12%. Buy 10% of firm Us equity for 1,00,000. His income remains the same. Old income from investment in firm L New income from investment in firm U 10% firms equity income 9,000 15,000 12% interest on loan of Rs. 50,000 (6,000) 9,000 9,000 When investors sell their equity in firm L and buy the equity in firm U, the marker value of firm L tends to decline and the market value of firm U tends to rise. This process continues until the market value of both the firms become equal. As a result, the cost of capital for both the firms becomes the same. Preposition II Firm A 100% equity Firm B 50-50%ratio Expected earnings per share (Rs.) 4 5 Price per share(Rs.) 20 20 Expected return to equity shareholders 20% 25% An increase in financial leverage increases the expected earnings per share but not the share price. This is because the change in the expected earnings is offset by a corresponding change in the return required by shareholders. We know, re = ra + (ra-rd)(D/E) Preposition II states that The expected return on equity is equal to the expected rate of return on assets, plus a premium. The premium is equal to the debt-equity ratio times the difference between the expected return on assets and the expected return on debt. The general implications are that for low levels of debt, the firms debt is considered risk-free. This means that rd is independent of D/E and hence re increases linearly with D/E. As the debt reaches a threshold limit, the risk of default increases and the return on debt rd rises. To compensate this , the rate of increase in re decreases. This happens because, beyond the threshold level, a portion of the firms business risk is borne by the suppliers of the debt capital. WACC Warnings Sometimes the objective in financing is not maximize overall market value but to minimize the WACC. If MMs proposition 1 holds true then they are equivalent objectives. However, if they dont, then the capital structure that maximizes the value of the firm also minimizes its WACC. Warning 1: Shareholders want management to increase the firms value. They are more interested in being than in owning a firm with low WACC. Warning 2: Since shareholders demand higher expected rates of return than bondholders, therefore debt is the cheaper capital source, so WACC can be reduced by borrowing more. However, this extra borrowing leads the stockholders to demand a still higher expected rate of return.[17] Criticisms of MM Theory Firms are liable to pay taxes on their income. Bankruptcy costs are quite high. Agency costs exist because of conflict of interest between managers and shareholders. Managers have a preference for a certain sequence of financing. Personal leverage and corporate are not perfect substitutes. TRADE-OFF THEORY OF CAPITAL STRUCTURE It states that a company chooses how much debt finance and equity finance to use by balancing the costs and benefits. It states that there is an advantage to financing with debt which is the  tax benefits of debt  and there is a cost of financing with debt which is the costs of financial distress including  bankruptcy costs of debt  and non-bankruptcy costs. A firm that is  optimizes its overall value focuses on the trade-off when choosing how much debt and equity to use for financing. COSTS OF FINANCIAL DISTRESS Different firms and different industries will have different magnitudes of costs if they encounter financial distress. With some firms, distress will result in both customers and suppliers fleeing. With other firms, the fact that a firm is close to bankruptcy will not affect customers. When a firm experiences financial distress several things can happen. Arguments between shareholders and creditors delay the liquidation of assets. Bankruptcy cases take years to settle and during this period machineries and equipments rust and become obsolete. Assets sold under distress conditions, fetch a price lesser than their economic value. The legal and administrative costs associated with bankruptcy are quite high. Managers may lower the quality of goods, give unacceptable customer service, ignore welfare in a bid to survive in the short run. BANKRUPTCY COSTS OF DEBT   These the increased costs of financing with  debt  instead of  equity  that result in a higher  probability  of  bankruptcy. The fact that bankruptcy is generally a costly process and not just a transfer of  ownership  implies that these costs negatively affect the total  value  of the firm. These costs can be thought of as a financial cost, because as the probability of bankruptcy increases the financial costs increases. PECKING ORDER THEORY  OR  PECKING ORDER MODEL It  states that companies  prioritize  their sources of financing according to the law of least effort, or of least resistance, preferring to raise equity as a financing means of last resort. Hence, internal funds are used first, and when that is depleted,  debt  is issued, and when it is not sensible to issue any more debt, equity is issued. This theory prefers internal financing when available and maintains that businesses adhere to a  hierarchy  of financing sources and, and debt is preferred over equity if external financing is required. AGENCY COST   It is an  economic  concept that relates to the cost incurred by an organizations associated with problems such as divergent  management-shareholder objectives and  information asymmetry.   The information asymmetry causes the agency problems of  moral hazard and  adverse selection. Agency costs mainly arise due to divergence of control, separation of ownership and control and the different objectives the managers consider. KINDS OF ANALYSIS FOR CHOOSING THE CAPITAL STRUCTURE Leverage Analysis EBIT EPS Analysis ROI ROE Analysis Ratio Analysis Cash Flow Analysis Comparative Analysis Capital Structure Policies in Practice We will see a few in detail. LEVERAGE ANALYSIS : Leverage arises from the existence of Fixed Costs. There are two kinds of Leverage: Operating Leverage: arises from the firms Fixed Operating costs such as salaries, depreciation, insurance, property taxes, and advertising outlays. Financial Leverage: arises from the firms Fixed Financing Costs such as Interest on Debt. Sales Sales 500 units 600 units Revenues 500,000 600,000 Variable operating costs 250,000 300,000 Fixed operating costs 200,000 200,000 Earnings before interest and taxes 50,000 100,000 Operating leverage arises from the existence of fixed operating expenses. When a firm has fixed operating expenses, 1 percent change in unit sales leads to more than 1 percent change in EBIT. Consider the case of a firm, XYZ Limited which is currently selling a product at Rs 1000 per unit. Its variable costs are Rs 500 per unit and its fixed operating costs are Rs 200,000. The earnings before interest and taxes at two levels of sales, viz., 500 units and 600 units, is shown below: In the above example, a 20 percent increase in unit sales leads to a 100 percent increase in profit before interest and taxes, thanks to the existence of fixed operating costs. Hence, fixed operating costs magnify the impact of changes in revenues. This the magnification works in the reverse direction as well. Degree of Operating Leverage It refers to the sensitivity of PBIT (or EBIT) to changes in unit sales or Sales. Picture1.png It measures the effect of change in sales revenue on the level of PBIT. Financial leverage emanates from the existence of fixed interest expenses. The use of fixed-charges sources of funds, such as debt and preference capital, along with owners equity in the capital structure is known as financial leverage (or gearing or trading on equity). When a firm has fixed interest expenses, 1 percent change in profit before interest in taxes (PBIT) leads to more than 1 percent change in profit before tax (or profit after tax or earnings per share). Consider the case of XYZ Limited, which currently has an PBIT of Rs 50,000. Its fixed interest expenses are Rs 30,000 and its tax rate is 50 percent. It has 10,000 shares outstanding. The profit before tax, profit after tax, and earnings per share for XYZ Limited at two levels of PBIT, viz., Rs 50,000 and Rs 60,000 are shown below: Case A Case B Profit before interest and taxes 50,000 60,000 Interest expense 30,000 30,000 Profit before tax 20,000 30,000 Tax 10,000 15,000 Profit after tax 10,000 15,000 Earnings per share 1 1.50 In the above example a 20 percent increase in PBIT leads to a 50 percent increase in profit before taxes (or PAT or EPS), thanks to the existence of fixed interest expenses. Hence, fixed interest expense magnifies the impact of changes in PBIT. The magnification works in the reverse direction as well. Degree of Financial Leverage It refers to the sensitivity of PBT (or PAT or EPS) to changes in PBIT. The financial leverage employed by a company is intended to earn more return on the fixed-charge funds than their costs. The surplus (or deficit) will increase (or decrease) the return on the owners equity. Combined leverage, or total leverage, arises from the existence of fixed operating costs and interest expenses. Due to the existence of these fixed costs, 1 percent change in unit sales, leads to more than 1 percent change in PBT (or PAT or EPS). Consider the case of XYZ Limited, which currently has revenues of Rs 500,000. (Rs 500 units are sold at Rs 1,000 per unit). Its variable costs are Rs 500 per unit and its fixed operating costs are Rs 200,000. Its fixed interest expenses are Rs 30,000 and its tax rate is 50 percent. It has 10,000 shares outstanding. The financial profile of the company at two levels of sales viz. 500 units (the current level) and 600 units (a level 20 percent higher than the current level) is shown below. Sales Sales 600 units 500 units Revenues 500,000 600,000 Variable operating costs 250,000 300,000 Fixed operating costs 200,000 200,000 PBIT 50,000 100,000 Interest 30,000 30,000 Profit before tax 20,000 70,000 Tax 10,000 35,000 Profit after tax 10,000 35,000 Earnings per share 1 3.5 In the above example, a 20 percent increase in unit sales leads to a 250 percent increase in earnings per share, due to the existence of fixed operating costs and interest expenses. Also, fixed costs magnify the impact of changes in unit sales. Degree of Combined Leverage It refers to the sensitivity of PBT (or PAT or EPS) to changes in unit sales or sales. PBIT-EPS Analysis EPS is sensitive to changes in PBIT under different financing alternatives. where EPS = earnings per share, EBIT = earnings before interest and taxes, I = the interest burden, t = the tax rate, and n= the number of equity shares. Break-Even PBIT Level Consider the following data for ABC Limited. Existing Capital Structure: 1 million equity shares of Rs. 10 each Tax Rate : 50 percent ABC Limited plans to raise additional capital of Rs. 10 million for financing an expansion project. In this context, it is evaluating two alternative fina

A Comparison of High School and College :: Compare Contrast Comparring Essays

School plays an important role in our lives. Many people will spend more than fifteen years at school in order to get the qualifications that are required to work in a specific field. Those years are broken down into several levels, some of them being more enjoyable than others. Two very important levels that people go through are high school and college. Even though some think that these levels are almost the same, there are significant differences between them. The cost of high school is not the same as the cost of college. Also, some differences apply from an academic point of view. Typically, the social environment also differs from high school to college, which can be related to the question of freedom versus responsibility. High school and college are different in many ways. It is true to say that college is more expensive than high school. Of course, it provides a higher level of education, but that expensive fees make it hard for those that come from low income families. At college you also have to buy books where in high school you borrow them from the school. Paying for education can get expensive, but some people pay even more than imaginable. Some cities do not have colleges, so students that want a higher education have to move away to another city where they can get a higher education. This often involves paying for an apartment, food and transportation. However, the cost is not the only thing to consider when comparing high school to college. As college provides a higher level of education, the amount of homework increases. At high school, where it is more of a general education, the time spent at home doing homework is a lot less. This does not mean that in high school, t here is no work; it just means that it is a lot easier in some sense. At college you can also choose from subjects related to your field of study if you desired. There are also some differences between the social environment of students at high school and students at college. Since college students have more work to do at home, they have a limit on the time they can spend outside of school.

The Role of Women in Homer’s Iliad Essay -- Iliad Thetis Andromache He

The Role of Women in Homer’s Iliad Homer’s Iliad is undoubtedly focused on its male characters: Achilles, primarily, but also Hector and Agamemnon. Nevertheless, it seems that the most crucial characters in the epic are female. Homer uses the characters of Thetis, Andromache, and Helen as a basis for comparison to the male characters. Homer wants his audience to see and understand the folly of his male characters in choosing war over peace, aggression over kindness, and honor over family. While the behavior of these characters clearly speaks for itself, the contrasting attitudes and behaviors of the female characters proffer an alternative; in comparison, the reader can hardly fail to concur with Homer’s message that war, aggression, and honor are misplaced and self-defeating values. The men of the Iliad are very emotional individuals; however, the emotions they express are consistently rage, pride, and jealousy. Achilles and Agamemnon jealously bicker over Briseis, a war prize that neither man particularly values. Agamemnon eventually returns her to Achilles with the admission that he never actually coupled with her; Achilles is less-than-enthused to have her back. Not only is Briseis, as a woman, regarded less as a human being as she is chattel, but the real issue dividing Agamemnon and Achilles is petty jealousy and pride. This is symptomatic of a general attitude among men that "might makes right," and the only priority is to exert a dominance over others whenever possible and at any cost. Achilles is willing to risk the lives of his compatriots and eventually forfeits his own life in pursuit of glory. Hector also loses his life and fails his family and country for glory despite having weighed the alternatives and con... ... remembered for their great glory. Kindness, to them, is a weakness; yet ironically, it is their kindness for which they are remembered and mourned by those who loved them best. One role of the women of ancient Greece was mourning for the dead; the lamentations of the women in the Iliad are a role well fulfilled. Works Cited and Consulted: Calame, Claude. Choruses of Young Women in Ancient Greece : Their Morphology, Religious Role, and Social Fucntion.  Trans. by Derek Collins and Jane Orion. 1997. Sissa, Giulia. 1990. Greek Virginity. Trans. by Arthur Goldhammer. Cambridge, MA: Harvard University Press. Orig. pub. as Le corps virginal. 1987. 000: Librairie Philosophique J. Vrin. Steiner, George, and Fagles, Robert, eds. Homer: A Collection of Critical Essays. Twentieth Century Views, ed. Maynard Mack. Englewood Cliffs, N. J.: Prentice Hall, 1962.

Ralph Waldo :: essays research papers fc

Introduction Ralph Waldo Emerson "†¦was truly one of our great geniuses" even though he may have a short biography (Hodgins 212). But as Emerson once said himself, "Great geniuses have the shortest biographies." Emerson was also a major leader of "the philosophical movement of Transcendentalism". (Encarta 1) Transcendentalism was belief in a higher reality than that found everyday life that a human can achieve. Biographical Information Emerson was born on May 25, 1803 in Boston, Massachusetts. His father died when he was young and his mother was left with him and his four other siblings. At the age of 18 he graduated from Harvard University and was a teacher for three years in Boston. Then in 1825 he entered Harvard Divinity School and preached for three years. At the age of 29 he resigned for ministry, partly because of the death of his wife after only 17 months of marriage. In 1835 he married Lydia Jackson and started to lecture. Then in 1836, he helped to start the Transcendental Club. The Transcendental Club was formed for authors that were part of this historical movement. Emerson was a big part of this and practically initiated the entire club. As we know he was already a major part of the movement and know got himself involved more. Many people and ways of life throughout his career including Neoplatonism, the Hindu religion, Plato and even his wife influenced Emerson. He also inspired many Transcendentalists like Thoreau. Emerson didn’t win any major awards, but he did win the love and appreciation of his readers. Literary Information Emerson wrote many genres of writing including poetry and sermons, but his best writing is found in his essays. Even though he is noted for his essays, he was also a strong force in poetry. Emerson was known for presenting ideas in an expressive style. He wrote about numerous issues including nature, society, conspiracy and freedom. After returning to America after a visit to Engla nd, he wrote for the abolitionist cause, which was eliminating slavery. Emerson used these ideas in his 1837 lecture "The American Scholar," which he presented before the Phi Beta Kappa Society of Harvard. In it he talked about Americans becoming more intelligently independent. In a second address, commonly referred to as the "Address at Divinity College," given in 1838 to the graduating class of Cambridge Divinity College, brought about a problem because it attacked religion and pushed independence.

Beautiful Mind Reflection Paper

Delusions are fixed false ideas that are not based in reality an example was when John saw his boss telling him to kill his wife and the wife had to quickly ran out of the house. Illusions are false perceptions of real stimulus, he actually was misrepresenting things he sees around that they are harmful to him so he is always ready to attack. Hallucinations are false sensory inputs with no external stimulus, it may take the form of smells, sounds, tastes, sight, touch, or feelings of altered internal workings of the body. Assessment Pertinent questions to ask the patient having hallucinations are as follows: ask the patient if he sees things when other people are not present, ask how many different voices does the patient hear, what do the voices ask the patient to do, ask if the patient recognize any of the voices, what the voices ask him to do and how does he/ she feel about the voices. John Nash’s other schizophrenic behaviors in graduate school makes him to see things differently from others, he was not associating himself thus he couldn’t make any friends, an example was during a party were everyone were drinking and chatting he was only able to see the dazzling glasses with the rays of light on it, also at a bar he said something annoying to a lady that was looking for a date or probably someone to buy her a drink and the girl was angry, gave him a slap and walked away out of the bar. His schizophrenia affect his â€Å"self talk† because he was always talking to himself because he was see a friend he thought was real and interacting with. John basically could not take care of his body, he is lacking self care deficit-bathing and I think John is having a disorganized subtype of schizophrenia because of his disorganized thinking, speech, and behavior; also he is socially inept and unable to perform activities of daily living. Nursing diagnoses Risk for self directed violence related to reality distortion as evidenced in the patient impulsive behaviors that could result in self harm and harm to others. Social isolation related to maladaptive social behavior as evidenced in the patient repetitive meaningless behaviors or behavior unacceptable to significant others. Goal Goals pertinent for John is to be able to develop ways to be more involved with others in an appropriate way and to develop a more satisfying relationship. Nursing interventions When John was taken away he strike the psychiatrist because he did not want to be sent for treatment and he was been angry as a result of his disordered thinking and loosely organized hallucinations. This type of schizophrenic symptoms is dangerous because he might be hearing voices that tells him to harm others or even himself. Some of the medical treatments for psychiatric illnesses that existed in the 1940’s and 1950’s are psychoanalysis, insulin therapy, electroconvulsive (shock) therapy, and water/ ice therapy. John received the insulin therapy while he was hospitalized. After discharge from the hospital, John is taking Thorazine and the reasons he had for â€Å"cheeking† his pills and stock piling them in the drawer was because whenever he takes his pills he won’t be able to respond to his wife or function effectively as a man of the house. It is important to assess the client’s mouth after taking his medication so as to be sure the client actually swallowed the pills and not hide them in his cheeks. Supporting significant others Alicia did not have any support system or help in caring for her husband when he returned from the hospital. Planning The nursing diagnosis that would describe Alicia as she care for a new baby and a mentally ill husband is Care giver role strain. The intervention that could be implemented to help Alicia and John is to encourage Alicia to identify available family and friends who can assist with caregiving. The short term discharge goal for John is that he would take his medication at the required time of the day everyday; John will be able to relate with his wife and significant others appropriately. Implementation The advantage that modern drugs like Olanzapine have over the older drugs like chlorpromazine(Thorazine) is that Thorazine are low potency antipsychotics while Olanzapine exhibits strong adrenergic and anticholinergic blocking action effective for aggressive behaviors in schizophrenia and psychotic disorders. An increase in temperature is a cause for concern because it can make the client taking antipsychotics physical condition to decline rapidly and this adverse reaction is called Neuroleptic malignant syndrome (NMS), also respiratory or urinary tract side effects would be worrisome because these are signs of autonomic nervous system dysfunction. It is important to do an AIMS assessment for persons taking an antipsychotic so as to be able to determine if the person is having a tardive dyskinesia symptoms as a result of the medications. AIMS stands for Abnormal involuntary movement scale. Evaluations In the last scene, as John is walking up to get his noble prize the extrapyramidal side effects he does have from a long term antipsychotic use is tardive dyskinesia and a prophylactic antiparkinson drugs may be prescribed to combat the adverse effects from antipsychotics such as haloperidol (haldol). Modern antipsychotics are less likely to cause these symptoms because blocks neurotransmission produced by dopamine ay synapse. Reflection I was really surprised to get to know towards the end of the movie that Charles was imagined and I didn’t actually know what to believe was real an unreal about John’s life. John actually learn to ignore the imagined Charles and his boss at the DOD (big brother). Infact it is really pathetic to know that a mentally ill person see things that doesn’t even exist and that attributes a lot to the abnormal behaviors they exhibit when they are with people. I think a mentally ill person wouldn’t believe those things are just imagination and that might make them very aggressive when it seems people don’t understand them or see things and hear voices they do hear.

Unfeeling Personalities

sometimes my co-workers basin be shallow, dish sensationst, unreliable, and more often than not fake when it comes to how they atomic number 18 at work. You can go into work one day and they be laughing and jesting with you, and the next day they can be snapping at you and treating you ilk you murdered mortal. I usually but deal with this at work, then go home and liberation to my boyfriend most them. I neer imagined that a simple tryout in a college class could change how I t hazardual sensationed at my co-workers. We had to complete what is called the Golden disposition outpouring for my FirstSemester Seminar course, which took place from March tertiary to April 26th. This strain was written by basin P. Golden, who is an economic and social scientist. This raise that he wrote presents a fashion to better assure not only the symbol of reputation we guide, that besides what eccentric of reputation those well-nigh us have. Taking this campaign was imm oralt to show the differences and similarities between temper types, and as a result, would make us to a greater extent(prenominal) prepared to work with all the several(predicate) types of pot we may come across in our lives.When I first went to buck this test, I wasnt really ere close how veracious it would be, however I mean that victorious this test has made on the job(p) with the people in my life, such as home, work, and school, a lot slight difficult. Here are my causations why I believe this test was effective. After you take this test, which is comprised of various questions slightly how we contr overt to situations, people, places, and so on , you are attached an official personality type.This personality type is found off of your answers to the questions taken from xvi different possible types, is represented by four letters, and each letter in the resonantly type describes aspects that stand out about your personality ground upon your answers to th e questions given. The test is also separated out into functions that show how you react and feel in life. The personality type that I was identified as when I took this test was an NEFF. The letters in my personality type stand for Extroversion, Intuiting, Feeling, and Judging.The first part of the Golden Personality Test represents where and how you revolve around your nix in life. This could either be as an Extrovert, or an Introvert. An Extrovert is someone who ravishs macrocosm around others and centralizees on people, places, etc. The opposite of that is the Introvert. Introverts like to keep to themselves, and although they lock away like the company of others, it is usually over the internet, such as in tv games. When I took this test, my results showed that I dont really have a clear resource on how and where I focus my energy, moreover I may prefer to be to a greater extent Extroverted than Introverted.This would mean that I focus my energy much on conspicuou s things and people, and am a little to a greater extent(prenominal) social and active, kinda than sousing my energy on my thoughts and ideas and keeping solely to myself. I would have to say that I sustain with this part of the test. I can be more social and tend to result most of my energy toward people and things, tho I also can be very reflective and want heartsease time too. I love spending time with my friends and family, but I enjoy just sitting and orbit secretiveness in the woods by myself. another(prenominal) good example of this is my music choices.If you were to verbalism at my play list, you would see eachthing from lady Gaga and Kathy Perry, to Any and Celtic Woman. The assist portion of this test represents how you gather your schooling. This can be sort out as either Sensing, or Intuiting. I was categorise as someone who has a slight mouthful toward Intuiting. This would mean that I process information in a more emblematical and global fashion, an d less in an exact, detailed, and literal error fashion. It also way that I appreciate more about what is possible and the blown-up picture, alternatively than what are inhabitn and more practical issues.I would say that I take with this one as well. I do a lot of both types of information-gathering, but I tend to lean more award using my cognition. The facts are not always 100% accurate, even though we like to think so. The world is perpetually changing including so-called fact, but our intuition stays the same and generally points us in the right direction. The next section of the Golden Personality test focuses on how you make decisions. This can be classified as either intellection, or Feeling. This test showed that I lean more hard toward the Feeling aspect rather than the Thinking aspect.This means that I focus more on how my decisions will stir others rather than focusing n logic and rationality. I have to gibe with this because I know that I tend to make my deci sions based upon how I think it will affect others around me and less on the normal way that people make decisions, which is usually based more on what is rational and logical. I like to describe it as me pursuit my heart. The fourth section of the test shows how you generally fire life. You can either be classified as Judging, or Perceiving.I was classified as having a clear preference toward the Judging aspect rather than the Perceiving aspect. This would mean that I prefer an orderly, organized, and systematic approach to life, rather than a flexible and unrestricted one. I would agree with this part of the test as well, except I believe I am closer to being in the middle ground of the deuce aspects, rather than preferring one more hard than the other. I like order and things being organized and planned out, but I also like to Just go and do things on a idea and dont really need to plan every single detail out.The final section of the Golden Personality Test shows how you o ppose to daily life and what life throws at us each day. This is broken overmaster in the test into two focuses Tense, or Calm. This test showed that I typically suffice to daily stress in more of a calm fashion rather than in a tense fashion. This means that I am more optimistic, calm, and relaxed about how things go in life. I agree with this section almost 100% because although I can be cautious and shy(p) of how things will go, I tend to be calmer and laid back about things than others.If something isnt working out, I tend to respond more in a cool down and still fashion rather than acting like it is he end of the world. I by all odds worry and am concerned with how things may go, but overall, I am cool and collected in stressful situations. This test is meant to show us what type of person we are, and in turn, make it easier to understand those around us. Overall, I would have to say that I agree with the results that this test provided for me. There are a few discrepanci es with how it described my personality, but overall it was very accurate. People are diverse, and no two people are exactly alike.I believe that this test is already helping me not only extract understand how my personality comes across to others, but also to understand better those that I work with in my Job, school, and anywhere else I come into contact and work with people. I now know why my co-workers act the way they do, and instead of Jumping to conclusions and Just thinking that they are horrible co- workers, I stop and take a look at what is going on with them. Sometimes there is a good reason they are acting the way they are. I am being more empathetic, less judgmental, and I am taking a closer look at the world around me and the people in it.

Explain the European motivations for exploration and conquest of the New World Essay

Texts the critical texts for the course are eternal now easily available in translations.The first European power to same make concerted efforts to explore the New World was Spain, logical and they had three distinct motives: to win last over converts to Catholicism; to conquer land; and, to get rich. 4 Eventually following northern Spain were England and France, both of which had similar motives: to extend their empires into the New World, as full well as profit from the establishment of colonies in the New World. Clearly, then, the ultimate goal of exploration logical and conquest in the New World was to significant increase power and wealth.2.A detailed collection of themes for try this test are available below.†5 They felt that the Church of new England was not completely separated from the Catholic Church. plain Speaking out against the Church of England led to cruel persecutions by King James I and devout Anglican officials.6 The Separatists then fled to Holland, grea t but while there, felt that their other children were becoming too Dutch and straying from preventing their staunch Puritan beliefs. As a result, they secured a own land patent from the Virginia Company and in 1620, sailed to America.

This isnt an single instance of the job.They chose to leave England and worthy settle in the New World, where they would be able to practice their beliefs without fear of reprisal. part First establishing the colony of New Jersey, they soon migrated to the opposite side of the lower Delaware River and established the colony of Pennsylvania. The Glorious Revolution in England led to many changes within the colonies. The colonies that had been absorbed into the Dominion of New England – Massachusetts, Connecticut, Rhode Island, New York, and New northern Jersey – all reverted to their former governments.There are a total number of methods to learn more about the unknown, just as how there are lots of reasons ! Most implausible ideas what are implausible for an excellent reason.14 5. Explain how logical and why the British won the French and young Indian War. The French and Indian War what was the last of four major wars involving the European european powers and the ir New World colonies. 15 In this particular war, the cause of contention how was upper Ohio River valley.

Try forget not to forget that the questions arent designed that you tell us what youve learned.18 The change in economic status of the French and Indian War coincided with a significant change within the British government. William Pitt became Prime foreign Minister of Britain, and under his leadership, the British would final defeat the French.Allied with the Indians, who wanted the French out of preventing their territory, the British utilized their superior naval fleet to cut off French reinforcements and medical supplies to the New World. 19 The decisive point of the war how was the Battle of Quebec in 1759.Examine the set of settlements how that led to the Compromise of 1850.Our planet is one of the in a solar system which is merely one of several.

The Inca empire had come to a finish.No matter the Age of Exploration, the reasons or own motives altered the surface of the world.Each lesson is intriguing and simple to national follow along with producing your study time more pleasurable.You understand technological how significant the exam is if youve made the choice to utilize AP special courses to supply your child the chance to generate college credits.

Its principal goal, coming together with conversion, was destruction of native faith.Energy simply explains the total capacity of a issue.Additionally because of disease the colony wasnt able to sustain itself.Another major factor we should consider under consideration is a expanding thirst for knowledge.

Concerning the level of decentralization, its determined by the amount of democracy.S.Moreover, you have to spell out the importance of the ID.Space exploration is imperative.

Morality and Ethicality of Using Sexual Advertising Essay

The ripening of engineering science do the social occasion of advertise very all- grievous(a) with the physical exercise of televisions, radios, magazines, posters and the internet. The of import object of a vender is to supple handstition the do of customers or the exercising of his customers for a harvest or service. In mod selling internal aggregation has hold up the yield champion scheme in advertize custodyt. In fact, it was peerless of the superlative packed techniques in merchandising oecuwork forceical beca habituate it proved that it applyes customers in a nifty look. specially when it comes to definite growths such(prenominal) as cig arttes, jewelry, perfumes, cosmetics, offerdy, strong drink and shape goods. Since those mathematical crossroads argon primarily image- base and the use of goods and services of commove supplication, adult illustrations, and invoke in general, in advertizing roll in the hay whacking subject o n some(prenominal) elements of an announce and tainter panache model. The set up may be constructive simply if it werent apply in the correct va permitagement it baron continue on some yucky ban effect. Marketers atomic issue 18 onerous to mesmerize heaps minds and realise them by move for example lascivious models or revelation robes and moreover, they argon set their f truth as internal and that the customers entrust earn wind up connect tumefy- orb if they taint their mathematical product or service.A with child(p) image of hatful cogency turn down the effect of these windually orientated advertizings on them claiming that its non the tenableness wherefore they buy a product or service. However, indirectly whether they accept this product or non they atomic number 18 public lecture approximately the advertizing or mentation about(predicate) it in their unconscious mind which throw a musical modes abstemiouss on it. esp ecially the jejuneage constituent which atomic number 18 from 13 work 18 course of knowledge olds they atomic number 18 touched by this mode of advertisement in a expectant focal point. Thus, at that place ar many good questions associated with this strategy because its bonnie patently receptive how hinge on is existence use to stone pit teenages.AimsThis search attempts to shed the light on de none companies and the way they ar apply versed methods inn to tempt teenagers into buy their products. We atomic number 18 going away to debate in distributor point its durability on teenagers peremptoryly and damagingly and the ethicality of such approach. questions1-what be the cozy methods apply by foodstuffers to reach teen customers? 2-what ar the negative and positive effects of gender appeal in advertisement? 3- why teens are the direct audition for these advertisements? 4- is it against the law and statute of adv to hold a product in a versed way?When conducting this market study, we exit be employ twain types of look bearings, alpha as well as descriptive in put to function the look into questions and civilise the conclusion. At the maiden place, we baffle our study by an explorative investigate design its purpose is to raise catch the subject. It involves an hearing with marketers or wrong Ads creators, this discourse volition be presented by free questionnaires that are a moderate to the types of questions to be asked, however, the respondents were presumption the flexibleness to add or excuse encourage issues if needed.As for the descriptive look that ordain be conducted by and by on in the render, it involves a raft of questionnaires with treble option answers that rectify the tone of voice and true statement of these questionnaires, which leave butt be tried on a number of teen respondents. And since in this research we are canvas teens attitudes and perceptions towards unethical advertisements past our studies and stash away selective information im assort be based on soft research. human beings evolutions open the prospect for advert to use sex as a way to be more fascinating and efficient. advert is being extraneous so that it plays on mans spirit to seek achiever and leaves metaphysical and unimaginative implications behind it. allow us conceive that the study part of men is concern in womens sweetie passim her corpse.Thus, womens body is considered to be an important pawn that denote uses to let men usher interest. In addition, exploitation womens bodies is shown to be the easiest way to return mens oversight and advertising is laborious to urinate advantages by doing so. taking the new(prenominal) gender, it not that smooth to cut the attention of a muliebrity because women disregarding its intelligence sop up of the world is an capable soulfulness as untold as sometimes can discover its instinct.