Thursday, October 31, 2019
Korean 180 C-problem set 14 Essay Example | Topics and Well Written Essays - 500 words
Korean 180 C-problem set 14 - Essay Example The people in the country are being used as tools for the leaders to achieve that political environment that they desire, but not one that will necessarily work. B) The myths in North Korean ideology are considered backward-looking because they are past events that have been brought into the present and given specific meaning. Many of these events are fabricated or exaggerated, which makes them different from the historical events, but acts as a tool of rallying the population for the countryââ¬â¢s cause. For example, there are myths about how the country once operated as a Communist state where everyone only took what they needed. This myth is used in order to show the population what the ideal society would look like. This is an effective manner of manipulating the population into acting according to the governmentââ¬â¢s political ideologies. C) Ideology prevents North Korea from moving forward into a modern society because it is very difficult for outsiders to understand the political ideologies that are held in the country. Since it is difficult for outsiders to understand, it is also difficult for outsiders to understand how the populations could take these ideologies seriously, which means that the rest of the world sees North Koreans as being less sophisticated than people of other nationalities are. D) Even though the idea of Juche is based on national pride, North Korea has received help from other communist countries. While this is somewhat awkward, it is justified because Kim Il Sung argued that the most important thing is to strengthen the Communist movement worldwide because this would end up being in North Koreaââ¬â¢s best interests. Kim said that internationalism and patriotism are interchangeable because they will both further the international Communist movement, which is something that would help North Korea in the long run. This was simply a manner of Kim getting the help he needed from other countries without losing the nationalist support in
Tuesday, October 29, 2019
Ethics Essay Example | Topics and Well Written Essays - 500 words - 24
Ethics - Essay Example However, the exact grounds that justify connection between the mind and the body along with the energy associated by which the mental impact upon such physical entity, lies beyond the prevailing reach of human knowledge. Despite this such problem with causation that has hardly found resolution in his philosophy, Hume recognizes that the ultimate basis of all value is desire and emotion while the presence of rational judgment is only assumes the role of determining what makes a person satisfy basic desires toward happiness. On the contrary, the ethics proposed by Kant perceives good will as the sole absolute good wherein moral act does not constitute the will to gratify self-interests and that oneââ¬â¢s act can only be considered to possess moral worth if it is done out of duty. Kant further supposes that purity of thoughts are a basis of moral obligation which is generally attached to a universal principle every human deed ought to abide by in order to be labeled moral in nature. Through his metaphysical critique of pure reason, nevertheless, Kant admits that the highest sensibility to knowledge is yet unreachable for even as mind is susceptible to dynamism, its capacity for operating within conf ines of reason and morality is limited by the empirical realm of space and time. While Plato, on the other hand, metaphysically holds the theory of ââ¬Ëdualismââ¬â¢ in consideration of reality on different levels being composed of ââ¬Ëformsââ¬â¢ and ââ¬Ëphysical worldââ¬â¢ where the latter contains images that are less real than physical objects, he establishes an amply similar argument with Kantââ¬â¢s ethical position. Based on virtue, Plato presents ââ¬Ëwell-beingââ¬â¢ as the ultimate end of humanââ¬â¢s rational thinking and conduct with which applied virtues form the character traits and pertinent skills that complete an individual. Being a student of Plato, Aristotle
Sunday, October 27, 2019
Negative Impact Of Texting On Teenagers English Language Essay
Negative Impact Of Texting On Teenagers English Language Essay Texting is a very fast form of communicating with others. It consists of brief messages often typed in abbreviations known as text speak. Though it delivers thoughts with lightning speed, those who believe it is as, if not more effective than face to face conversations have their heads in the sand. Whether you are meeting someone for the first time or conversing with an old friend, face to face interactions have superior quality. Facial expressions can be seen, voice inflections heard and body language interpreted. Valuable verbal and nonverbal information essential to human interactions is lost in text messaging. In person conversations are self regulating while the silent nature of text messaging is not. Many young people text constantly no matter where they are or who they are with; hence, they are in a perpetual state of distraction and are unable to maintain focus beyond the next text. There is more to communication than sending and receiving bits of abbreviated text. Conveying emotions and feelings along with conversation adds depth and aids in interpreting meaning beyond words on a screen. Further, face to face communication allows for body language and facial expressions to enliven and enrich conversations and one another. Texting relies on emoticons (little faces that show happy, sad etc) which are a sorry replacement for human gestures and emotion. The purpose of interpersonal communication is to encourage the listener to fully grasp the thoughts and ideas the communicator wishes to convey. Though texting enhances access to others, it limits the ability to personally connect with others and bond. The more people choose texting to connect with others over interpersonal communication the further apart they become. In face to face communication people do not rely solely on words to understand what is being said. Intrapersonal communication is 7% spoken words, 38% tone of voice and 55% non verbal. This means that 93% of communication is determined by nonverbal cues; therefore, if text messaging is the chosen means of communication 93% of the intended message is lost. (http://www.dest.gov.au/nwt/hospitality/comm_non.htm, Non Verbal Communication (body language). There are six types of nonverbal communication: facial expressions, eye contact, gestures, posture and body orientation, proximity and paralinguistics . Facial expressions confirm how information is being received and delivered. Smiling for example is an expression that is welcoming while scowling is the opposite. Eye contact is extremely important in that consistent (not starring or ogling) eye contact during a conversation makes the listener feel relevant, and heard. Gesturing can insert warmth, connectedness, and personality into one on one or group communications. Posture and body orientation (how you stand, walk and sit), sends a multitude of messages. A person who is shy or nervous may convey it by slouching or turning slightly away; contrarily, a confident, relaxed individual will exhibit a relaxed posture and face their conversation partner or group. Proximity is the distance an individual places between themselves and the person they are conversing with. If too much distance is placed between individuals it signals that one or both is uncomfortable with the conversation. It can also become uncomfortable if someone (particularly if they are not a friend) stands too close or touches too often. How your voice sounds is paralinguistics. Tone, inflection, pitch, volume and rhythm give richness and depth to a conversation. Paralinguistics can also reveal when there is a hidden or different meaning than the stated words suggest (http://www.focused-momentum-lifecoach.com/types-of-nonverbal-communication.html, The Six types of Nonverbal Communication). Computers and text messaging sources were originally created for data, not for the intricacies of human interactions. Yet, over seventy five billion text messages are exchanged each month in the United States. The majority of the texters are between the ages of thirteen and seventeen and each average two thousand, two hundred seventy-two texts a month. An extreme example was reported by Greg Hardesty, a reporter who wrote a story about his thirteen year old daughter racking up 14,528 texts in one month. After the story appeared in the Orange County Register, his daughters volume rose to 24,000 messages. Her parents took no action until after her grades fell precipitously. Thankfully, they took her phone away. (http://www.nytimes.com/2009/05/26/health/26teen.html, The New York Times, by Katie Hafner, May25,2009). David E. Meyer, a psychology professor at the University of Michigan said that texting is a huge cultural phenomenon with huge down-the-road consequences (http://seattletimes.nwsource.com/html/living/2008774199_texting23.html, O.M.G.! Teens lives being taken over by texting, By Donna George, The Washington Post, February 23, 2009). Some educators believe those consequences are currently surfacing in the classroom. They are seeing declines in word choices, spelling, the complexities of writing and an inability to stay focused. Further, educators are seeing text speak (LOL-laugh out loud, THX- thanks, L8R-later) and emoticons show up in assigned papers as well as a growing absence of punctuation (http://www.wsbt.com/news/national/40499712.html, Constantly Texting Teens Worry Parents, Experts, March1, 2009, Rockville Md. (AP). Many educators (and parents) are concerned about teens seeming inability to stay focused and tuned in to the world around them. Their attention is constantly divided between where they are at and what they are supposed to be doing and the next text message. It takes self-discipline to pay attention and learn and self discipline is not a character avid texters display. Texting distracts from the here and now of daily activities and interactions with others. A person is often exchanging texts with four or more individuals while trying to converse with others around them. Neither the in person or texting group has the full attention of the texter. The focus of the texters attention is constantly being pulled in several directions so no one benefits from the exchange. The same holds true in the classroom. To master the knowledge being presented, the full attention of the learner is required; therefore, a student who spends class time sending and receiving texts cannot be receiving the information required for learning. In the long run, it is the texter who loses from this addictive and rude behavior. Relationships both inside and outside the family deteriorate as does the quality and quantity of their education. Texting is undermining communication skills and therefore, human interactions. Texting is producing a generation that is self absorbed, distracted, unable to communicate in the here and now effectively and have no sense of propriety. Communication that is void of nonverbal cues and tones, laced with abbreviated speech which lacks grammar and punctuation and consumes ones time from dawn to dusk, clearly is destined to severely negatively impact the future of intrapersonal communication and interactions. Texting is inferior to communicating face to face and enjoying the richness and depth that language (verbal and nonverbal) provides.
Friday, October 25, 2019
Smart Bombs: The History and Future of Strategic Bombardment Essay
Smart Bombs: The History and Future of Strategic Bombardment Introduction Every kid loves to hear stories from their grandparents about something that they have experienced in their life. For me, some of the best stories came from my father about the air war that was waged over Europe during World War II. He often told me of a day that a formation of almost 1,000 bombers flew over his base: "The drone of the planes could be heard for miles and made us on the ground feel as small as ants. There were over 1,000 of them overhead, in a perfect formation, each one with four engines roaring. They looked invincible to us on the ground; there were so many of them. After seeing the destruction that they brought upon the German cities and factories, I was thankful they were on our side." Those "invincible" planes my father told me of were American B-17 Bombers. With a range of 1,850 miles, a maximum ceiling of 35,600 ft. and a bomb load of 8,000 pounds, the B-17 Flying Fortress was one of the most capable of the long range bombers of World War II. Though these statistics are impressive, the technology that made this bomber so impressive was its bomb sight. The United States Army Air Corps claimed that its Norden Bomb sight, which was used in the B-17, could "place a bomb in a pickle barrel at 20,000 feet." Though it was not quite as accurate as claimed, it could hit a 100 foot square target area consistently from 20,000 feet. Using this bomb sight, which was considered top secret for the first years of the war, formations of up to 1,000 B-17's would be able to hit a target in broad daylight accurately. The effects of these bombing runs were felt heavily in the Germans manufacturing industry. On October 14, 1943, 229 B-17s ... ...003. 19 March. 2004. http://www.astronautix.com/lvs/batasmn2.htm Webmaster. "GBU-15." Military Analysis Network. May 13. 2003. 19 March. 2004. <http://www.fas.org/man/dod-101/sys/smart/gbu-15.htm> Webmaster. "Guided Bomb Unit-10 (GBU-10)." Military Analysis Network. 19 February. 1998. 19 March. 2004. <http://www.fas.org/man/dod-101/sys/smart/gbu-10.htm> Webmaster. "Guided Bomb Unit-28 (GBU-28) Bunker Buster." Military Analysis Network. 28 February. 1998. 19 March. 2004. <http://www.fas.org/man/dod-101/sys/smart/gbu-28.htm> Webmaster. "Joint Direct Attack Munition (JDAM)." May 13. 2003. 19 March. 2004. ? <http://www.fas.org/man/dod-101/sys/smart/jdam.htm> WWII Statistics. 1999. <http://www.angelfire.com/ct/ww2europe/stats.html> ` "Zeppelin ZI." Spartacus School Net. <http://www.spartacus.schoolnet.co.uk/FWWzeppelin.htm>
Thursday, October 24, 2019
Explore the ways Willy Russell uses dramatic devices to present the key themes and ideas in his play
Blood Brothers is a play about two twins Edward and Mickey who are separated at birth by their mother as she cannot afford to keep both of them. The play was written by Willy Russell who is a famous play write that was born near Liverpool in 1947 and lived on a council estate. He left school at the age of 15 with one O-level in English; he went on to be a hair dresser and also wrote songs in his spare time. As an adult, after struggling as a singer he went back to school to get better qualifications and then went on to be a teacher. He never forgot his roots though and he eventually achieved success writing plays 9in the common speech based on the stories he heard from people. He still lives in Liverpool and wrights theatre, musical theatre and plays for TV. The play is set in three eras, the first is a 1960's busy Liverpool town. The second is set in the same time but in the county, and the third is modern day suburbia. This play revolves strongly around themes within the play and a lot of the characters actions depend on them. There are 5 main themes in this play. They are: Class Guns Superstition Family Friend ship And in this essay I will be further exploring what part these themes play in Blood Brothers. Section 1 ââ¬Å"Classâ⬠Class is one of the most important themes in the play. It forms a barrier of society that defines the rich and well mannered from the lower class folk. From early on in the play the audience can tell how class plays a large role into how the characters are treated. For example on page 39 there is a scene were Mickey, Linda and Edward are caught by the police for throwing stones at a house. The police man asks for their names when Edward replies ââ¬Å"Adolph Hitlerâ⬠the police man then takes the children to both of their parents. Mickey's mum gets a threat from the police as Mickey gets into a lot of trouble with the law. But when the police man takes Ed to his father he hands the police man a glass of scotch and they start talking like mates and the police man passes it over as just childish mischief. Another area this is displayed in is pages 10/11 were Mrs Johnston and Mrs Lyons are singing about how each of them would raise the child. One quote is that ââ¬Å"If my child was raised in a palace like this one he wouldn't have worry were his next meal was coming fromâ⬠Shows that Mrs Lyons can provide food and shelter without any trouble wear as Mrs Johnson owes a lot of people money and has a house that is quite frankly falling apart. Section 2 ââ¬Å"Gunsâ⬠Guns are also a very important theme in this play. As in the play it gives the image that a gun can turn one of the weaker characters into a much bigger stronger more powerful person. It is this deception that all the kids treat them as toys and feel that if they have a gun then it makes them better than all the other kids. This idea is shown in the section on page 30/31 with the song ââ¬Å"its all just a gameâ⬠. Were the children got the impression that if you get shot ââ¬Å"you just cross you're fingers and count to one to tenâ⬠you'll be ok and you can start again. Also on page 36 Mickey, Ed and Linda have borrowed Sammie's gun and are firing at some tin cans. Ed and Linda both manage to achieve hitting the cans but Mickey doesn't hit a single one of them showing although he likes the concept of having a gun he dose not posses the right skills needed to accurately hit his target. Section 3 ââ¬Å"Superstitionâ⬠Superstition like the others is a important theme that pops up a lot in the plays storyline but there are two areas of the play were these are highlighted. On page 35 when Mrs Johnston swipes the new shoes of the table after Mrs Lyons puts them their. This tells the audience that Mrs Johnston takes a simple old wife's tale far to seriously and Mrs Lyons takes this into note as she later uses this against her. This makes Mrs Johnston look quite weak and could be easily lured witch make sit a very good dramatic devise. Also the song shoes upon the table I think reflects Mrs Johnston's thoughts on superstition and the song relates how big a factor this is in the play. Section 4 ââ¬Å"Familyâ⬠Family also comes into a large theme in the play as it determines the sort of treatment the characters got and where they stood. One of the first times you see family involved in the story line is on page 28 with the poem ââ¬Å"I'm nearly eightâ⬠this is a quite significant poem as it is the only one in the play making it have a lot of meaning behind it. In the poem Mickey basically makes a list of what his older brother Sammy can do but he can't. He talks about how he can play with matches and has a toy gun. In the poem he looks up to him although he has authority over him as he is younger and it just because of that fact that Mickey will do as he says and has a fear of him. Another example is how Ed and Mickey treat their mothers. Mickey is very respectful to his mother and follows any requests that she gives him. This shows that Mickey respects what his mother does for him. Ed however only has respected his mum though her telling him off and shouting at her not what she has done for him I also think this could be done as a dramatic devise because a blood mother and son have a bond that they are born with and I feel this is showed where Mrs Johnston talks with Ed like a son just before he is about to move away to the country. Section 5 ââ¬Å"Friendshipâ⬠Friendship is another really important theme in the play as friends can help you through rough times and it can also turn an already bad situation into a worse one. An example of this is on page 63 with the developing relationship between Ed and Mickey's wife Linda. As cheating is already a unforgivable thing to do but to do with a best friend AKA a secret brother is a heart wrenching pain Mickey will feel and he goes off in revenge, as we see in the play. But on page 41/42 and the song ââ¬Å"My friendâ⬠reveals the bond Mickey and Ed have and the way they wish to be like each other yet they don't at the same time. And with the false identity of being best friends they create a bond that they might not of had if they were just brothers. Conclusion W. Russell use lots of dramatic devises in this play in what I think was just the right places so they could all unfold in a fantastic finale. He also highlighted all the key themes and kept coming back to them so they wouldn't be forgotten and he used them so they would all make their own scenarios in a situation. I enjoyed the play very much and the book as well.
Wednesday, October 23, 2019
The Ozone Behavior and Variability of Thickness
The Ozone Behavior and Variability of Thickness Introduction The ozone O3has good and bad effects on the Earth. For illustration the stratosphere, where most of the ozone is located, absorbs harmful UV beams. Because the ozone plays such an of import function on human life and the ecosystem, it is of import to invariably endeavor to larn more about the ozone and record and analyze informations. Harmonizing to Shaw, while both O and ozone together absorb 95 to 99.9 % of the sunââ¬â¢s UV radiation, merely ozone efficaciously absorbs the most energetic UV visible radiation, known as UV-C and UV-B, which causes biological harm ( Shaw, 2014, p. 3 ) . When UVC is absorbed by free O groups in the stratosphere, they break apart into two O atoms, and so they combine with O2molecules to organize stratospheric ozone Oxygen3, shown by the undermentioned reactions: Oxygen2+hvi O + O O + O2+ M i O3+ M wherehvis ultraviolet radiation and M is an inert molecule that enhances the reaction of O with O2. The ozone is created, destroyed and created once more in rhythms, of course. While there are legion reactions of how the ozone is destroyed of course, anthropogenetic substances/processes are increasing the devastation the ozone. Examples of anthropogenetic substances/processes would beCFCââ¬â¢s such as infrigidation, air conditioning and aerosol propellents.Halons ; man-made chemicals that can be used to snuff out fires.Burning of fossil fuels.If the ozone continues to be destroyed faster than the natural procedure of being created, less and less of the harmful UV visible radiation will be absorbed in the stratosphere and will finally do it to the Earthââ¬â¢s surface. The UV radiation to the surface would ensue in effects to the worlds and the ecosystems such as the addition of skin malignant neoplastic disease instances, development of cataracts, lessening in photosynthetic pro ductiveness, an addition in vaporization rates and lessening in precipitation. To protect the ozoneââ¬â¢s hereafter from anthropogenetic substances the Montreal Protocol, adopted in 1987, with extra understandings, required states to diminish the sum of atmospheric concentrations of CFCs. With these understandings, concentrations chlorine began to diminish in 1995 ( Sahw, 2014, p. 6 ) . Analyzing the information recorded about the ozone thickness provides grounds on whether the ozone is consuming or non, penetration on the effects of anthropogenetic substance/processes and aid in the formation of theories, such as the ozone repairing itself. This assignment will supply a general apprehension of the tendency of longitudinal sets -60/-55, -40/-35, -10/-5, 15-20, 30/35 and 50/55 for the old ages of 1997 ââ¬â 2005. MATERIALS AND METHODS Data was provided for this assignment by Professor Shaw. Harmonizing to the hand-out provided the information was collected by the Total Ozone Mapping Spectrometer ( TOMS ) for the old ages of 1997 ââ¬â 2005. The TOMS instrument provides scientists with a planetary position of the stratospheric ozone bed in existent clip with measurings for the full universe every 24 hours ( Shaw, 2014, p. 6-7 ) . The provided information was manipulated in an excel spreadsheet to concentrate on latitudinal sets -60/-55, -40/-35, -10/-5, 15/20, 30/35, 50/55. The given informations was so manipulated and graphs created utilizing excel to be better represented and more easy understood. Each latitudinal set of involvement was individually graphed over the eight twelvemonth span to compare by the months of January, April, July and October. Then the one-year mean for each latitudinal set of involvement was calculated ( non including the months with zero readings ) and put into a graph demoing the tend ency of the entire ozone thickness over the eight twelvemonth span. More specific inside informations may be found in the lab instructions titledThe Chemistry of the Ozone Layer( Shaw, 2014, p. 8 ) . Additionally, a press release by Mindy Shaw and the text edition,Global Environment: Water, Air and Geochemical Cycles, were available with information sing the behaviour of the stratigraphic ozone. After reading the stuff sing the stratigraphic ozone the graphs were interpreted and hypothesisââ¬â¢ formed. Consequence Figure 1: The one-year mean ozone thickness recorded by the TOMS for the latitudinal sets -60/-55, -40/-35, -10/-5, 15-20, 30/35, 50-55 for the old ages of 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records. Figure 2: The monthly tendency of the ozone thickness recorded by the TOMS for the latitudinal set -60/-55 for the old ages 1997 ââ¬â 2005. Figure 3: The monthly tendency of the ozone thickness recorded by the TOMS for the latitudinal set -40/-35 for the old ages 1997 ââ¬â 2005. Figure 4: The monthly tendency of the ozone thickness recorded by the TOMS for the latitudinal set -10/-5 for the old ages 1997 ââ¬â 2005. Figure 5: The monthly tendency of the ozone thickness recorded by the TOMS for the latitudinal set 15/20 for the old ages 1997 ââ¬â 2005. Figure 6: The monthly tendency of the ozone thickness recorded by the TOMS for the latitudinal set 30/35 for the old ages 1997 ââ¬â 2005. Figure 7: The monthly tendency of the ozone thickness recorded by the TOMS for the latitudinal set 50/55 for the old ages 1997 ââ¬â 2005. Discussion Harmonizing the Figures 2 ââ¬â 7, the variableness in the tendencies of the latitudinal sets gets larger the further off from the equator they are. Vice versa the closer to the equator the less variableness there is, as seen in Figures 4 and 5. This correlativity is due to the Earthââ¬â¢s joust. As the Earth jousts towards the Sun the Earth receives more sunlight and consequences in longer yearss. This addition in sunlight additions the sum of high-energy solar atoms striking the ambiance which consequences in an addition in coevals of ozone. The information besides shows a tendency of a thicker ozone bed near the poles during the spring seasons for the single poles respectfully ( Figure 2 and Figure 7 ) . The North Pole spring season begins around March while the South Pole spring season begins around September. A upper limit of thickness is shown for the North Pole in Figure 7 and South Pole in Figure 2. This addition in thickness during the spring season could perchance be due to the accretion of ozone transported from the Torrid Zones during the autumn and winter seasons. The twelvemonth to twelvemonth informations shows that surprisingly the ozone thickness is bit by bit increasing over clip ( Figure 1 ) . In fact, out of the latitudinal sets of involvement, the latitudinal set -10/-5 was the lone one to diminish in thickness over the eight twelvemonth span. This information entirely ( including merely the old ages of involvement from 1997 ââ¬â 2005 ) does non back up the theory that the ozone is being depleted quicker than it is being of course created ; nevertheless, the correlativity of the alteration should be noted as due to the lessening of anthropogenetic substance by the Montreal Protocol, adopted in 1987, and other extra understandings that decreased the atmospheric concentrations of CFCs. This proves an opposite relationship that a lessening in anthropogenetic substance consequences in an addition in ozone thickness. Decision Because the ozone plays such an of import function to human life and the ecosystem, it is of import to understand the behaviour and variableness of its thickness. Knowing the ozoneââ¬â¢s behaviour allows us to protect our hereafter and cognize to diminish the usage of anthropogenetic substances/processes. By analysing informations over old ages, scientist can foretell whether or non the ozone is being depleted faster than it is of course being created or if it is repairing itself. Harmonizing to the informations the ozone fluctuates in thickness globally due to latitudinal place, seasonal alterations and the increase/decrease of anthropogenetic substances. While latitudinal place and seasons is a natural procedures in assisting with creative activity and devastation rhythm of the ozone, the sum anthropogenetic substances is something that can be controlled. The information proves that a lessening in anthropogenetic substance consequences in an addition in ozone thickness. Appendix: Appendix 1: The monthly norm and one-year mean ozone thickness recorded by the TOMS for the latitudinal set -60/-55 for the old ages 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records.Monthly Average and Annual Mean Ozone Thickness For the Latitudinal Band -60 / -55 Thickness measured in Dobson Units ( DU )YearJanFebMarAprMayJunJulAugSepOctNovDecAnnual Mean1997309.5297.8292.4294.9292.9297.2301.7314.6323.6326.8323309.33071998304.5295.4289.1290.2299.3318.7323.1317.9316.3334.9332310.93111999301.5292.8288.8290.6299.9309.8316.3314325.5333.6329.8306.53092000297.2293.9291.6291.4291.3295.2296.5295.7321.7344.5337.3322.13072001307.8297.9295.1296305.6315.8315.4310321328.8330309.23112002301.6292294.7291.8299.5313.5327.5338.8351.5367.9343325.23212003313.3304.2295.2293.9297299.1303.6299315.3344.1342.2321.13112004307.3299.6295.7302.1301.1308.2310.6321.4334.9344329.4313.73142005308.8295.1287.4287.9290.5299.6303317.4329.5342.9338.60309Appendix 2: The monthly norm and one-year mean ozone thickness recorded by the TOMS for the latitudinal set -40/-35 for the old ages 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records.Monthly Average and Annual Mean Ozone Thickness For the Latitudinal Band -40 / -35 Thickness measured in Dobson Units ( DU )YearJanFebMarAprMayJunJulAugSepOctNovDecAnnual Mean1997270.3269.2267.3266.2271.6280.5290.1305.6319317.3302.9285.82871998277.4272.8271.8273.8284.3300.8316.3323335.8329.9312.8295.63001999271.5268.9267.8268.3272.9286302.8318.8327.4327311.6286.62922000274.5268.7265.2268277.9296.1312.2330.2336.4331.1309.6286.62962001278.9271268.2269.9279.6301.1319.3326335.4332.1317.8297.63002002284.3279.8274.5276.4282.5296311.3326.6330330.8311.3297.73002003284.3279.5273.9272.6276.4296314.8331.4339.5334.8316.6292.93012004280.4273.8270.5263.5270.8279.9294.5312324319.6305.7285.72902005275.7272.1271271.2281.7303.8319.7335.2340.7335.6309.80302Appendix 3: The monthly norm and one-year mean ozone thickness recorded by the TOMS for the latitudinal set -10/-5 for the old ages 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records.Monthly Average and Annual Mean Ozone Thickness For the Latitudinal Band -10 / -5 Thickness measured in Dobson Units ( DU )YearJanFebMarAprMayJunJulAugSepOctNovDecAnnual Mean1997254257260.5260.3255.4256.8258.7259.5265.5266.8259.7247.92591998242.2245.9248.7249.1249.6250.1256.6264.9272.9273.7269.4267.32581999260.9262260.6262.2262.1261.3264.5267.5273.1272.7265.3258.22642000257.7258.4260.7261.1259.7258.5258.2263.6269264.2258.5253.52602001253.1249.5251.8252.6248.8247.5250.8257.4269.5273.3272.8270.12582002269271.4269.6267.2261.5258.9258.5263.9268.3268.8264254.62652003252.1253.5255.7255.4254.1255.9257.4262.9268.9264.3260258.52582004254258.9261262.7261.4260.6264.5267.6273.3267.3261.9256.62622005253.2253.2252.4251.6251.1252.7256259.8264.2264.5257.80256Appendix 4: The monthly norm and one-year mean ozone thickness recorded by the TOMS for the latitudinal set 15/20 for the old ages 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records.Monthly Average and Annual Mean Ozone Thickness For the Latitudinal Band 15 / 20 Thickness measured in Dobson Units ( DU )YearJanFebMarAprMayJunJulAugSepOctNovDecAnnual Mean1997236.5239.8253.2267.7271.9273.2276.8272.7268.1263254247.72601998243.8250.5262.4276.3281281.6282.3280.5276.1265249.4244.22661999240243255.1272.2280.9282.8282.2281277.9269.3259.7254.72672000256.3262.9270.8283.4285.7283.6281.5280.2275.7264253.9247.82702001251.1253.4267.9283.8285.3283.6282.9281.3274.7264.2252.3241.42682002241.4248.6259.1275.3282.5284.5282278.9273.4265.2256.9245.42662003244252.4270.2284.1289.8289.4287.2284.4277.8263248.3241.82692004236.7242.5257.4271.1280.6286285.3281.9277266.8258.9253.42662005254.9260.2268.2277.4283279.4279.3276.1272.9263.1248.80269Appendix 5: The monthly norm and one-year mean ozone thickness recorded by the TOMS for the latitudinal set 30/35 for the old ages 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records.Monthly Average and Annual Mean Ozone Thickness For the Latitudinal Band 30 / 35 Thickness measured in Dobson Units ( DU )YearJanFebMarAprMayJunJulAugSepOctNovDecAnnual Mean1997279.5286.7300.3306.9303299.4291.6283.8279.2278.7277282.52891998291.7303.7319.4325.6324.6310.3297.6293.3283.6272.7262.1263.32961999270.1281290.8305.2311303.2297.7293284.4274.7274.1277.32892000292.5297.2310.3315311.4301.1296.4291.9282.5270262.3270.42922001285.8292.8309.3320.9317.6304.2297.7292.9280.6272.9266.9266.92922002270.9277.1296.9314.6316.1309.3299.8292.8283.6274.8271.52812912003290.5309.1317.9323.4321.8311.3300.7294.9283.9271.3264267.42962004273.1283.1295312.7316.9308.5301.6293.2283.8276.5269.7279.22912005297.6308.9314.2320.3320.2308.1296.9290.9280.8268261.20297Table 6: The monthly norm and one-year mean ozone thickness recorded by the TOMS for the latitudinal set 50/55 for the old ages 1997 ââ¬â 2005. The ozone thickness is measured in Dobson Units ( DU ) . The one-year mean calculated does non include the nothing ( 0 ) records.Monthly Average and Annual Mean Ozone Thickness For the Latitudinal Band 50 / 55 Thickness measured in Dobson Units ( DU )YearJanFebMarAprMayJunJulAugSepOctNovDecAnnual Mean1997364.4383.4384.9371.4359.2348.3330312302.7298.7308.83423421998380397.9407.4401.2381.4364.2339.6320.6308.6304.6329.5342.13561999365.3387.8413.6391372.9354.7330.8314.9305.6306.7312.2341.43502000359.8383.6387377369.8348.1327.4309301.2304.5323.2362.13462001377.5405.3407.3395.9373.6356.3332.4315.6307.5310309.5343.23532002361371.6397.2389375.9356.2331.3316.2303.7308.4318.93553492003378398.4409.5401.8381.2357.7340.1322307301.4318.3334.83542004367.2386.1399.5393.7373.6354.3333.4320.4304.7297304.8329.93472005350.2374.5390.5382.6370.2351.7332.7315.3301.7296.6
Tuesday, October 22, 2019
Understanding ACT Scores What Do They Mean
Understanding ACT Scores What Do They Mean SAT / ACT Prep Online Guides and Tips You took the ACT and got your score, but you donââ¬â¢t know how to interpret your ACT score. What does your ACT score measure? Is your score high or low? Will your score be enough to get you into your target schools? In this article, I'll answer all of these questions and more, so you can go toward understanding ACT scores. What Does the ACT Measure? The ACT was designed to measure your preparedness for college, though whether the ACT actually does sois highly debatable. There are many smart, successful people, who did not score high on the ACT. So what do ACT scores mean at all? Universities continue using the ACT because admissions officers think the SAT and the ACT are ââ¬Å"equalizers.â⬠While every applicant received a unique high school education and has a distinct background, all applicants took the ACT or SAT. For this reason, admissions officers use it to compare students. The purpose of an ACTscore is to get you into college; as such, you should understand your ACT score in terms of how it can help you do that. How Does Your ACT Score Match Up? ACT Score Range To understand our score, you need to know the range of possible ACT scores. The composite scores can range from 1 to 36. The composite score is simply the average of your four section scores, which are each graded separately from 1 to 36 (the Essay/Writing section is not counted towards your composite score because it's optional). The average ACT score in the US is usually around 21, but the exact number varies from year to year. While many students strive for the highest possible score, most students don't need a 36 to be accepted to their target school. Whatââ¬â¢s a Good Score for Your Target Schools? If you don't need a perfect 36, what score should you shoot for? To figure out what a ââ¬Å"goodâ⬠score is for your target schools, search ââ¬Å"[College Name] ACTâ⬠in Google. That search should take you to the Freshman Admissions Profile. The exact name may vary between colleges, but on the page you should find either the 25th/75th percentile or the average ACT. (If you have trouble finding this info, PrepScholar also has admissions info pages for most schools- just search "[college name] Prepscholar ACT" to find it.) The 25th percentile ACT score means that 25% of admitted freshmen scored at or below that number (in other words, 75% of admitted applicants scored above). The 75th percentile ACT means that 75% of admitted freshmen scored at or below that number (or 25% of admits scored above). The average ACT is an average of all of the admitsââ¬â¢ ACT scores. A good score is at or above the 75th percentile ACT score for that college. If you have that score in addition to a strong transcript and application, you have a great chance of being admitted. For colleges that only provide average ACT, I recommend aiming for a score 2 points higher than the average. That way you will have a score near the top 25% of admitted students. Why shouldyou aim for a higher score? I'm assuming you are a normal applicant. A special applicant would be a recruited athlete, legacy, child of a significant donor, or a unique talent like a world-class cellist. Colleges will accept students with these qualifications with lower ACT scores than normal applicants. It depends on the school, but those students can account for up to 25% of admits. If you're a normal applicant, you want a higher ACT score to make you stand out, so your target score should be the 75th percentile or above. For a more in-depth explanation of these concepts, check out What is a good ACT score? A bad ACT score? An excellent ACT score? Should You Retest? How Many Times? If you didn't reach your target score (the 75th percentile or higher for your target colleges), I would recommend retaking the ACT.However, don't take the ACT more than 6 times. It is unnecessary. If you have not reached your target score after 3 or 4 tests, then you aren't studying for the test properly. To achieve your goal, you need to have a dedicated study plan. Check out one of our guides for creating an ACT study plan for sophomores, juniors, and seniors. Other options you should consider: hire an ACT tutor, take an ACT class, or enroll in an online ACT prep program such as PrepScholar. Check out PrepScholar:Harvard grads and ACT full scorers created our program that figures out your strengths and weaknesses. Your ACT prep is then customized to target your weaknesses, so you get the best preparation possible. Whatââ¬â¢s Next? Need help with your ACT preparation? Struggling with the ACT English section? ACT Science? ACT Math? ACT Reading? Don't get discouraged! With the appropriate amount of preparation, you can reach your target ACT score! Disappointed with your ACT scores? Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically.
Monday, October 21, 2019
Argues for the decriminalization of medicinal marijuana.
Argues for the decriminalization of medicinal marijuana. Gordon Hanson, an epileptic, served six months in a jail cell in Minnesota. Byron Stamate spent three months in a California jail when he tried to help his disabled girlfriend. Gordon Farrell Ethridge spent 60 days in an Oregon cell, though he had been diagnosed with terminal cancer. Will Forster was sentenced to spend more than 90 years in an Oklahoma jail, despite the fact that he suffered from chronic pain. These four people were all unjustly forced to serve time for trying to self-medicate with marijuana. As a result of the sentences, Hanson served his time despite his sporadic seizures. Stamate's girlfriend committed suicide so she would not have to testify against her boyfriend. Ethridge served his time while enduring the side effects caused by chemotherapytreatments. And Forster still sits in a jail cell, continuing to have chronic pain (Marijuana PolicyProject, mpp.org).There are only seven people allowed by federal law to use marijuana medicinally, though tens of thousands o f people use it as a medicine nationwide (MPP).Drug Enforcement Administration badge.For some people, legal medical options have been proven unsafe or ineffective, leading them to consider marijuana. Their only options are to either continue to suffer from their ailment or break the law, forcing them to worry about the trauma of getting caught. If this happened, their house would besearched and they would be handcuffed and escorted away in a police car. They may serve time in jail, eventually having to deal with court costs and attorney fees. Probation would result in urine tests, preventing the use of medicinal marijuana. The patient could lose their job, resulting in inability to pay for insurance or their bills. They would also get the reputation of being a "druggie," making doctors reluctant to prescribe pain medication to them, even if they...
Sunday, October 20, 2019
5 Examples of Confused Sentences
5 Examples of Confused Sentences 5 Examples of Confused Sentences 5 Examples of Confused Sentences By Mark Nichol When writers neglect to take sufficient care in forming sentences, confusion and error can easily result. The following five sentences illustrate various ways in which the wrong word order or choice of phrasing can obfuscate meaning; discussion and a revision follows each example. 1. Various supervisors have developed their own risk assessment methodologies independently, which are not always directly comparable. A restrictive clause (one that starts with which and provides an additional and optional detail), should immediately follow the word or phrase it refers to (after the intervening comma, that is); do not permit another part of speech, such as the adverb independently, in this example, to separate them: ââ¬Å"Various supervisors have independently developed their own risk assessment methodologies, which are not always directly comparable.â⬠2. If youââ¬â¢d like to read more about Smithââ¬â¢s beliefs, many more of them are detailed on his website. Many more of Smithââ¬â¢s beliefs are detailed on his website whether youââ¬â¢d like to read more about them or not. The following revision of a false conditional expresses the immutable presence of Smithââ¬â¢s beliefs on his website regardless of your interest in reading about them: ââ¬Å"If youââ¬â¢d like to read more about Smithââ¬â¢s beliefs, visit his website to read many more of them.â⬠3. However, U.S. regulators go further by specifying that special due diligence is performed. The important distinction that the action must be performed, rather than that it is being performed, is obscured by use of the wrong form of the verb: ââ¬Å"However, U.S. regulators go further by specifying that special due diligence be performed.â⬠4. Conventional data-management strategies used to factor in only data sources within the enterprise. This sentence states that at a previous time, something occurred. However, the phrase ââ¬Å"used toâ⬠could be misunderstood to mean ââ¬Å"employed in order to,â⬠leading to further confusion because the sentence then appears to be incomplete, because there is no object. Alternatively, the reader might read ââ¬Å"used toâ⬠to mean ââ¬Å"accustomed to,â⬠with the same result. The sentence will read unambiguously if the verb phrase is altered, as in ââ¬Å"Conventional data-management strategies previously factored in only data sources within the enterprise.â⬠5. Every rape is not a gender-motivated hate crime. This sentence states that of all the rapes committed, none is a gender-motivated hate crime. The statement is clumsy, but worse, it is not what the writer meant to say. The point that although some or many rapes may be committed with that motivation, others are not. That meaning is conveyed by a simple relocation of the negation: ââ¬Å"Not every rape is a gender-motivated hate crime.â⬠Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:Good At, Good In, and Good WithLatin Plural EndingsCapitalizing Titles of People and Groups
Saturday, October 19, 2019
Virtual Reality Term Paper Example | Topics and Well Written Essays - 1750 words
Virtual Reality - Term Paper Example In view of the fact that it involves so many factors, hence it took a lot of time and efforts to build it what it is nowadays. In addition, the virtual reality is yet a great deal hyped term that carries people to consider on the eternal virtues of this rising technology and paradigm. However, with the passage of time we are observing a lot of real implementations of virtual reality appearing into life (VRS, 2009). This paper presents a detailed overview of virtual reality. In this scenario, this research will cover a lot of aspects which are related to virtual reality such as its history, its associated elements and advantages. History and Overview of Virtual Reality In the era of 80s and 90s, the trend of virtual reality started catching the attention of media and public, in particular the public interested in reading science fiction books. In this scenario, a number of researchers such as William Gibson, Vernor Vinge, Neal Stephenson, and many others offered an attractive and appe aling vision of the modern world in which virtual reality (VR) technology was invasive. In fact, it was believed by readers that it would not take a lot of time when circumstances discussed by authors would turn into the fact instead of fiction. Additionally, this scenario formed the environment where everyone was looking for their own private Holodeck, and in light of the media coverage, the idea it was simply a matter of exercising a small number of facts until Holodecks would become actually accessible (Allison & Hodges, 2000). Basically, the term Virtual Reality can be utilized in different scenarios with a number of definitions. For instance, the majority of people consider VR as a specific set of tools and technologies such as a Glove Input Device, Head Mounted Display and Audio. Additionally, a large number of people use this phrase to add traditional books, pure fantasy, movies and thoughts. However, the most common use of this term is seen in computer science where we limit virtual reality to computer supported systems. In this scenario, virtual reality refers to a technique for computer users to imagine, control and communicate with computers and enormously complicated data and information. In this definition, we used imagination part for the computer generating images, audio or other physical outputs to the people of a world inside the computer. In addition, this world can be a computer aided design model, a view into a database or an experimental imitation. In this scenario, the people are able to interact with the world as well we openly control items within the world. Moreover, some worlds can be designed through other operations, for instance, simple animation scripts or physical simulations. Hence, the communication with the virtual world, as a minimum with close to real time control of the view is a vital test for a virtual reality (Isdale, 1998). In the past few years, virtual reality has emerged as a quickly developing technology which effec tively makes use of the greater than ever potential and capabilities of computers to reproduce unreal and real-world situations and surroundings with a high level of interactiveness and practicality. In fact, this environment allows people to communicate and interact with the imaginary worlds or environments by making use of a wide variety of hardware devices and equipments (such as data gloves and joysticks). In this scenario, the feeling of in reality being in that virtual world or environment
Friday, October 18, 2019
Animal Senses Biology magnetoreception mechanism on Migratory Birds Essay
Animal Senses Biology magnetoreception mechanism on Migratory Birds - Essay Example Birds have various times of migration. Some birds migrate during the day like swallows and crows, while some migrate at night such as warblers, cuckoos, wild fowls and woodpeckers, as well as most songbirds (Engels 1). Stimuli such as internal body clocks or subtle weather changes cause these birds to migrate, and this ability can be explained by a phenomenon called magnetoreception, which is the ability of some organisms to detect the Earthââ¬â¢s magnetic field in perceiving direction, altitude or location (Solov'yov 40). The Earthââ¬â¢s magnetic field can be detected through various mechanisms such as chemical, electrical and mechanical means, and any of these stimuli can be converted into a molecular signal like a light-stimulated or photochemical reaction in the retina, which can then be recognized and perceived by magnetoceptive organisms like birds and insects (41). Hypotheses in the mechanisms of magnetoreception in birds There are various mechanisms hypothesized for mag netoreception to occur in birds, and one of these is the phenomenon involving a chemical compass where chemical reactions occur involving the transitions of electrons between high and low energy configurations or spin states, influenced by the Earthââ¬â¢s magnetic field (Rodgers 353). ... The amount of products from this reaction and the length of the half-life time of the radical base pair would depend on the strength of the detected magnetic field. The strength of the magnetic field determines the amount of radical base products and their length of half-life, and their linear relationship can be used to determine the strength of the magnetic field (Ritz 135; Rodgers 353). Thus, the stronger the magnetic field, the radical base pair mechanism would be producing more molecules with unpaired electrons, which in turn keeps the bird in its intended direction. These reactions occur in the photoreceptor region of the birdââ¬â¢s eye, helping the birds detect the strength of Earthââ¬â¢s magnetic field through radical base pair mechanism. The radical spinning is explained by hyperfine interactions, and these happen when there is a coupling between the magnetic moments of the unpaired electron and its atomic nucleus (Ritz 135). The interchanging conversions between the s inglet state and the triplet state is a process whose frequency is determined by the strength of the hyperfine reactions. This system is not only influenced by the intensity but also by the direction of the field, which makes it act like a compass (136). The tendency of one component of hyperfine reaction to be strong towards one direction only determines the interchanging conversion rate of the S and T state. Thus the effects of the magnetic field would be depending on the direction of the magnetic field with respect to the alignment of the radical pairs. These are the mechanisms by which birds are able to travel at night. Photoreceptor mechanisms in birds Birds have two types of light receptors in their eye: night vision
ABC Company Management Research Paper Example | Topics and Well Written Essays - 750 words
ABC Company Management - Research Paper Example The decision is of great importance for the organization because the results of the decision continue for many years hence such decision affect the profitability of a firm. Large amounts of money are invested in capital projects, the resources that are invested in a project are often committed for a long period of time and it may be difficult to reverse the effects of a poor decision. In view of the above, the viability of this new product line should be made based on the time needed to commit to the project, the expenses associated with the project , source of funds to finance the project ,level of return of new product and the additional revenue expected from the project. I. Regulatory and compliance risk-this is the risk of regulatory sanctions that arises when Company fail to follow the code of conduct as outlined by the rule of law in the course of carrying out its activities. It includes failing to abide by laws regarding conservation of environment, health standards of its wor kers and quality standard s set for their products. This risk has disastrous impact on companyââ¬â¢s existence as it may cause the company to be winded up if it fails to comply. Consumer demand shifts This is the risk associated with continued change in consumer preferences and tastes. This is brought about by changes in needs and fashion .a Company therefore should always be in line with this shifts so as to produce products that suit consumers needs Uncertainty Most business firms fear the challenges that may face the organization in the future. The uncertainty in credit market, coupled with new laws and the fluctuations in the global economy influences investment decisions. Thus most firms shy away from long term commitment of funds to long term projects in favor of short term projects with uncertainty being their major excuse. This problem of uncertainty can however be solved by making long term strategic planning. Globalization This is a major challenge to firms today. Firms need to understand foreign cultures so as to penetrate new markets with their products and services. Also firms face stiff competition from competitors who unknown to them are in foreign markets as a result of increased globalization. The challenge therefore can be solved by in depth understanding of international markets and diverse foreign cultures through better research of information for better analysis. Technology The technological advancement is running at an increasing rate. Some competitors use this as a tool to outdo their competitors that is they wait for next generation of technology which may be a half a year away then use it to gain a competitive edge over other firms. Hence firms need to come up with a reliable long term technology plan and also remain flexible to use to their advantage any unforeseen technology development. II. ABC COMPANY CASHFLOW STATEMENT FOR THE YEAR ENDED 31 JUNE 20XX $ $ Cash flow from operating activities: Cash receipts from customers 10000 C ash paid to suppliers and employees (3000) 7000 Cash generated from activities Interest paid 200 Income taxes paid 500 (700) Net cash flow from operating activities 6300 Cash flow from investing activities: Purchase of property, plant and equipment ( 300) Proceeds from disposal of land (200) Purchase of equity investment ( 700) Interest received 300 Dividend received 200 (700) Net cash flow from operating activities 5600 Cash flow from financing activities: Proceeds from issue of share capital 4000 Proceeds from sale of long-term loans 300 Redemption of preference shares ( 210) Repayment of long-term loans ( 200) Dividend paid (130) 3760 net cash flow from financing activities 9360 Net increase in cash and cash equivalents 340 Cash and cash equiv
Thursday, October 17, 2019
How does stock price and dividends reflect the value of the firm Term Paper
How does stock price and dividends reflect the value of the firm - Term Paper Example For example, if a corporation issues 100 shares in total, each share provides 1% ownership to the shareholder in the company. Share prices can increase or decrease based on the market conditions and the performances of the company. Corporations often keep certain percentage of its annual profits for future expansion of the company and pay certain percentage of the profits to its shareholders. The annual profit paid to the shareholders by the company is often referred as dividends. The amount of dividend supplied to the shareholders in a particular year depends on the profit achieved by the company in that particular year. In other words, when the company gets more profits, the shareholders get more dividends and vice versa. This paper analyses the importance of stock price and dividends with respect to the value of the firm. ââ¬Å"A company's worth - its total value - is its market capitalization, and it is represented by the company's stock price. Market cap is equal to the stock p rice multiplied by the number of shares outstandingâ⬠(What is a company's worth, and who determines its stock price?, 2011). When the company grows or performs well, its share prices will increase whereas when the company underperforms, its share prices will decreases. When a company shows signs of growth, more demand will be created in the share market for its shares. Share purchasers often offer higher prices to the shares of growing companies and the shareholders who sell their share or stake in a growing company may get higher prices in the share market. ââ¬Å"A companyââ¬â¢s value for many investors is its ability to generate a satisfactory return over a long holding period. A number of things including financial strength, market dominance, growth potential, and so on, determines that valueâ⬠(Little, 2011). For example, recently, the share value of many companies dropped drastically because of global financial crisis; however the share value of many other compan ies did not undergo many fluctuations as a result of the recent crisis. The companies which performed better in share market even in the crisis situations are generally perceived as better companies and the investors may invest more heavily in those shares. The share prices of better performing companies may not dip drastically even in unfavorable market conditions. In short, share price of a company is directly proportional to the growth of the company; when the company grows, the share prices will increase and when the company underperforms, share prices will decrease. Since dividend is a portion of annual profit made by a company, no company would be able to pay dividends to the shareholders when it underperforms. At the same time, it is not necessary that a company which is able to pay higher dividends is better than some other companies which are paying fewer dividends or no dividends at all. The value of the company can be better judged based on its operations or activities. O nly by generating more cash than it needs to finance its operating plan, should a company pay a dividend. Thus, for a company like Google with attractive growth opportunities, dividends are basically irrelevant to estimate its value. For mature companies, late in their life-cycle, paying dividends is a way to ensure management does not waste funds on silly projects, or build empires. Further, when a company is relatively mature, and it establishes a well-communicated dividend program, it attracts a particular investor
NMR Lab Report Example | Topics and Well Written Essays - 250 words
NMR - Lab Report Example Hydrogen bonding stabilizes the enol form in polar solvents contrary to the non-polar solvents that lack hydrogen bonding. Stabilization of the enol form is attained by intramolecular hydrogen bonding. The HNMR spectrum for compound CH3OH display two peaks with a chemical shift of 4.9287 and 3.3721 and integration of 1 and 3 respectively. The computed equilibrium constant for acetylacetone in CCl4 is higher than the equilibrium constant for acetylacetone in CH3OH. The equilibrium constant for acetylacetone in CCl4 is higher than that in CH3OH because it is a non-polar solvent. The equilibrium constant is a ratio of the quantity of enol form to the quantity of keto form. Therefore, the quantity of keto form is inversely proportional to the equilibrium constant. The keto form increases with increase in solvent polarity because keto is favored by hydrogen-bonding solvents. The CH3OH compound used in this experiment display only two peaks in the NMR spectrum. The spectrum lacks the OH peak thus gives a slightly lower keto form than expected. The main factor in stabilizing any form is the intermolecular hydrogen bond. From research, the polar solvent has the capability of establishing two intermolecular bonds in one molecule and the non-polar solvent establishes only one intermolecular hydrogen bond. (Malcolm). However, in this case, the polar solvent only establishes one intermolecular hydrogen bond. The temperature affecting the equilibrium constant is related to the equilibrium change in enthalpy to that of
Wednesday, October 16, 2019
Evaluate the strengths and weaknesses of the application of LED bulbs Essay
Evaluate the strengths and weaknesses of the application of LED bulbs for solving climate change - Essay Example Through such an engagement and analysis, it is the hope of this student that the reader will be able to gain a useful level of inference concerning LED technology and the future of how it will be accepted, utilized, and effect a gradual impact on green living within society. There are a range of regulatory frameworks which have been designed to encourage more awareness of energy consumption rates. Schemes such as ââ¬ËSmart Gridsââ¬â¢ create greater efficiencies in energy consumption by monitoring consumer behaviour within electricity networks (Clastres, 2011). In a similar way the use of LED bulbs is now presented as part of the solution of reducing energy consumption (Humphreys, 2008). This is particularly important, not just as a single appliance saving energy, but as part of a wider shift in how users are adopting LED bulbs for in many respects, In man, it is behavioural changes which are the critical factor in tackling climate change, (Hobson, 2006). This view is supported by Paterson and Stripple (2010) who argue that individuals can contribute to the governing of climate change by undertaking specific actions to solve the problem. Hobson (2008) also notes that a gap currently exists between knowledge and action and that this has prevented the full realisation of a range of benefits from environmentally friendly initiatives. As a result, Hobson (2008) further asserts that policies relating to climate change should focus on removing such barriers through increased public education, infrastructural improvements and improving access to ââ¬Ëgreenââ¬â¢ goods. Slocum (2004a) argues that climate change discourse should localize the effects of global warming in order that society has a better understanding about energy consumption and its effects on the local and global environment. With reference to wider issues of lighting, Slocum (2004a) further
NMR Lab Report Example | Topics and Well Written Essays - 250 words
NMR - Lab Report Example Hydrogen bonding stabilizes the enol form in polar solvents contrary to the non-polar solvents that lack hydrogen bonding. Stabilization of the enol form is attained by intramolecular hydrogen bonding. The HNMR spectrum for compound CH3OH display two peaks with a chemical shift of 4.9287 and 3.3721 and integration of 1 and 3 respectively. The computed equilibrium constant for acetylacetone in CCl4 is higher than the equilibrium constant for acetylacetone in CH3OH. The equilibrium constant for acetylacetone in CCl4 is higher than that in CH3OH because it is a non-polar solvent. The equilibrium constant is a ratio of the quantity of enol form to the quantity of keto form. Therefore, the quantity of keto form is inversely proportional to the equilibrium constant. The keto form increases with increase in solvent polarity because keto is favored by hydrogen-bonding solvents. The CH3OH compound used in this experiment display only two peaks in the NMR spectrum. The spectrum lacks the OH peak thus gives a slightly lower keto form than expected. The main factor in stabilizing any form is the intermolecular hydrogen bond. From research, the polar solvent has the capability of establishing two intermolecular bonds in one molecule and the non-polar solvent establishes only one intermolecular hydrogen bond. (Malcolm). However, in this case, the polar solvent only establishes one intermolecular hydrogen bond. The temperature affecting the equilibrium constant is related to the equilibrium change in enthalpy to that of
Tuesday, October 15, 2019
Albinism Essay Example for Free
Albinism Essay Albinism Background Information Albinism is a genetic disorder which affects the amount of melanin produced, in a personââ¬â¢s skin, hair, or eyes. Oculocutaneous albinism, Ocular albinism, and Hermansky-Pudlak syndrome are other names for this genetic disorder. The disorder affects mostly men, because it is a recessive gene. Females are usually carriers. Albinism does not affect any specific ethnic or religious group. Symptoms/ Effects This Genetic Disorder affects the eyes, skin, or hairââ¬â¢s pigmentation. If an organism has albinism, it has little or no color in a specific part of its body. Albinistic skin burns easily. People with this disorder have to take special precautions to avoid sunburns and diseases such as skin cancer. Most types of Albinism also affect the eyes. Symptoms affecting the eyes include Crossed eyes, Light sensitivity, Rapid eye movements, Vision problems, and functional blindness. Albinistic people may have to limit their outdoor activities to avoid too much exposure to the sun. This disorder itself is not life threatening. However albinism affects many animalsââ¬â¢ camouflage, and makes them easy prey. A humanââ¬â¢s life span can be shortened by lung disease or bleeding problems from a form of Albinism, Hermansky-Pudlak Syndrome. Testing/ Diagnostics This disorder can be detected simply by looking for pale or unnatural colored eyes, hair, or skin. To make sure, scientists use genetic tests to affirm that a person has albinism. Ophthalmologists also conduct electroretinograms to detect any optical problems. Causes Albinism is a recessive gene that can only be inherited. It is not sex-linked. Treatments Albinism cannot be cured, but it a person with albinism can wear colored contacts or sunglasses to comfort and protect their eyes. They can wear sun block and stay indoors to protect their skin. Name: Vivian Ray (Vivia)? Age: 17? Gender: F? Appearance: There, you see her first thing you notice when you see Vivia, is her grace. From her delicate structure to her fluid motions, she is elegant and nimble. Vivia has dark black/brown hair pulled into a messy bun with an ornate pen sticking out of it. She has overgrown bangs, that fall into her face. She has an odd way of talking, she looks at you straight in the eyes with her bright grey irises, while speaking with long embellished sentences in a melodic voice. Vivia does not appear to be intimidating or weak. But at the same time, both. She holds herself tall and her eyes seem be a portal to her her inner depths.? Abilities/Talents: Vivia once ice-skated and did ballet. She is moderately athletic. Viviaââ¬â¢s main talent is writing. She often walks around in the park trying to find the perfect word to decribe the leaves slowly falling down, or the prints in the snow. She has her own column in the Elwood High newspaper called ââ¬Å"On the Bright Sideâ⬠? Basic Likes/Dislikes:? Likes: Vivia like things that are well though out, poems, artwork, and anything else. She loves sour things, and is often sucking a lemon head. When asked her favorite color she thinks of her late motherââ¬â¢s grey eyes (the only trait she inherited from her mother) and replies without hesitation, grey. She loves fruit and would pick it over any other dessert, likes listening to instrumental music . She also likes to reread her dog-eared copies of Shakespeare in her free time.? Dislike: The number one thing Vivia dislikes is being wrong. She does not like the uncertainty and indecisiveness she often suffers from. She also does not like people who stereotype and make assumptions about her. She tends to not work as hard if she is forced to do something instead of herself choosing to do something. Vivia also absolutely hates suspense, and has yet to read a full mystery without skipping to the end.? Personality: Vivia, is usually not the loudest person, and often simply listens in the background. However, her writing truly shows who she is, and wants to be. She is often caught dreaming about what would happen if her life were different. She has a temper if you annoy her enough to find it. She can be stubborn, and is very fair.? Background Information: As a senior at Aberle High, Vivia is being pressured into making the big decision as to what career path she should choose. Her father is pushing her toward a doctorate, while she would rather become an author.? Relationships: Viviaââ¬â¢s mother was a journalist and died in a car accident while driving to the scene of er next story. She lives with her father and little brother. She loves her father and wants to make him proud. There, you see her, leaning against a tree
Monday, October 14, 2019
The takeover of HBOS
The takeover of HBOS Introduction Mergers and acquisitions have become the most frequently used methods of growth for companies in the twenty first century. Nowadays the information about mergers and acquisitions (MA) can be seen every day in newspapers, internet, television MA can suddenly become a hot topic at anyones workplace because their company is going to merge with another. There are many sides to an MA transaction strategic, legal, financial, and technological to getting a deal done. One very important element to every deal is the human element, this should always be kept in mind. We are going to evaluate the challenges faced by the management of the new organisation in terms of Human Resource Management (HRM) with reference to the recent takeover of Halifax Bank of Scotland (HBOS) by Lloyds TSB in September 2008. The evaluation will include the role of HRM in analyzing the Lloyds TSBs decision to make a takeover bid for HBOS, how this analysis related to Culture, Conflict and Change within the organisatio n and possible dilemmas facing Lloyds TSBs stakeholders. Background and purpose of the takeover of HBOS by Lloyds TSB Background On 17 September 2008, very shortly after the demise of Lehman Brothers, HBOSs share price suffered wild fluctuations between 88p and 220p per share, which lost almost half its market value in the week, despite the Financial Services Authoritys assurances as to its liquidity and exposure to the wider credit crunch. However, on 18 September 2008 the terms of the recommended offer for HBOS by Lloyds TSB were announced. The two lenders also revealed plans to raise a combined à £17 billion under a government-funded recapitalisation programme aimed at strengthening the UK banking sectors capital reserves. The government backed the deal using a special national interest clause on the grounds that a collapse of HBOS would have had a disastrous impact on the UK. On 16 January 2009 the Lloyds TSB acquisition of HBOS was completed following final court approval and Lloyds TSB was renamed Lloyds Banking Group plc. Purpose of the takeover: The proposed acquisition of HBOS would combine two powerful financial institutions, and would be another significant and positive step on our journey to provide substantial benefits and value for customers and shareholders alike. Challenges faced by HRM in MA Organisational Behaviour Model Due to the resulting pressure for the MA to succeed, the management of the new organisation is forced to find new strategies as well as evaluate the additional challenges faced. To answer the question of how well the management performed during the integrating activity, it is useful to look at internal factors using the McKinsey 7-S framework. This framework was developed in the early 1980s by Tom Peters and Robert Waterman. The basic premise of the model is that there is a framework which maps a constellation of interrelated factors that influence an organisations ability to change. The McKinsey 7-S model involves seven interdependent factors which are categorized as either hard or soft elements: Hard elements are easier to define or identify and management can directly influence them: these are strategy statements; organisation charts and reporting lines; and formal processes and IT systems. Soft elements, on the other hand, can be more difficult to describe, they are less tangible and more specifically related to HRM. These soft elements are as important as the hard elements. A conservative estimate is that roughly 10% of people at work at any one time are directly affected by transformations of this sort. Moreover, another 30% are closely related to those experiencing combination-related tensions and trauma (Buono and Bowditch, 2003). These figures show how the critical challenges faced by management in every MA relate specifically to HRM. The company that effectively addresses people-related issues up front and throughout integration will have a better chance of succeeding and gaining the competitive advantage it seeks. The challenges faced by management in term of HRM in MA. The HRM issues in the MA can be classified in two phases; the pre-MA phase and the post MA phase. HRM should be involved from the beginning and throughout all stages of the MA process. Due diligence is important in the first phase while integration issues take the front seat in the later phase, including: Cultural clashes: Each organisation has a different set of beliefs and value systems. The exposure to a new culture during the MA leads to a psychological state called culture shock. Dissimilar cultures can produce feelings of hostility and significant discomfort which can lower the commitment and cooperation on the part of the employees, therefore post-merger cultural clashes are often blamed for disappointing MA outcomes. According to Anders Spilling and Jarle Hà ¸ien, managers in BearingPoints Business Strategy and Transformation pratice, there are five areas of cultural conflict: Leadership: every companys leadership style can seem unique. When post-MA senior leaders sitting at the same table motivate their staffs and resolve conflicts in diverse ways the resulting friction often creates additional risks. Examples of these risks could be a lack of commitment to new company goals or a high level of turnover among key employee groups. Governance: effective corporate governance requires much more than a system to protect stakeholder interests. It must encompass the way decisions are made in each part of the company and across organisations. One problem that usually arises is the debate over whether the new organisation should adopt one merger partners governance model or define a different model. Communication: Attitudes about confidentiality, preferences for formal versus informal channels and the frequency of communications may all come into play. By anticipating these risks well in advance, the acquiring companys leadership can develop communication tactics that best support the merger objectives. Business process: most companies have distinct ways of developing, updating and enforcing core business processes which must be understood and respected during the integration phase. If changes in core business processes are not deliberately and systemically thought through during the integration phase, organisations face the risk of internal breakdowns and failures in delivery of products and services to customers. Performance management and reward systems: new organisation should include efforts to harmonize performance standards and compensation systems where possible, while explaining important differences when necessary. Newly merged companies must help employees understand that their different recognition and reward systems are fair, even if not always uniform across the organisation. Because cultural change involves both hard and soft issues, HRM considerations will include visible manifestations such as key performance indicators, communication styles, employee interaction, as well as less tangible corporate values and assumptions about how a company does business, such as how leaders drive and assess results and new organisation governance model These findings have important implications for how organisations can anticipate post-merger cultural clashes and tailor leadership programs to address their underlying roots, ultimately enhancing merger success rates. Uncertainty job security: The MA leads to duplication of certain departments, bring about the excess manpower and downsizing is, unfortunately, an inherent result. Hence talking about MA, the first set of thoughts that occur in the minds of employees are related to security of their jobs, changes in designation, career path, working in new departments and fear of working with new teams. The MA also changes future opportunities for the employees in the organisation. Some employees also have to be relocated or assigned new jobs. This may have an impact on the performance of the employees and cause the organisation to lose some talent. The enormous challenges posed by an MA to the HRM are keeping all employees informed of all crucial decisions as well as enhancing effective two-way communication by involving line managers; ensuring an equitable and fair treatment of employees and in case of lay-offs, HRM should offer outplacement services and fair severance packages. All these efforts from HRM can help build trust, quell the rumour mill, relieve anxiety, focus people on the business and its possibilities and lessen productivity loss. Inability to manage changes: Often there are rapid changes in the business environment after MA. Internally HRM will manage a bigger work force, externally HRMs industrial relations will be extended The role of HRM is to quickly develop a HR plan to lead the process for helping the company to achieve the synergies it needs. The HRM must fully be prepared for the significant role they will play throughout the MA process. The issues faced by HR professionals when supporting the MA are extremely demanding they require the creation of a single unified organisation with a clear purpose and set of values from two groups of people with different cultures. HRM should continuously update their knowledge and skills in managing, controlling and monitoring the enlarged workforce, HRM need the ability to adapt to changing circumstances, acknowledge the problems when they arise, improving communications skills, create training programme, explain new roles to employees, implement stress reduction programmes and orientation pro grammes, help post merger team building and feedback helpline for employees. The issues faced by HR during MA deals are enormous, yet it is clear that the key to the success of an MA is the management of people. By identifying the common challenges and finding solutions which work for the new organisation. The value of HRM in the MA should be realised early enough to enhance the chances of a successful deal. Analysing Lloyds TSBs decision in making a takeover bid for HBOS. Issues related to Culture, Conflict and Change: The theory mentioned above regarding issues related to organisation development in term of culture, conflict and change applied very closely to the general challenges faced by the new Lloyds TSB organisation in the post-takeover period. Culture The basis of corporate culture is shared values. These values must be stated as both corporate objectives and individual values, explicit or implicit fundamental beliefs, concepts, and principles that underlie the culture of an organisation. Lloyds TSB and HBOS were two of the UKs leading financial services companies, they have some similarities in organisational structure. According to Charles Handy (1985), who popularized the work of Roger Harrison (1972), has linked organisational structure to organisational culture, both Lloyds TSB and HBOS have Role culture in where people have clearly delegated authorities within a highly defined structure. Power derives from a persons position and little scope exists for expert power. Lloyds TSB and HBOS rest on the strength of strong organisational pillars-the functions of specialists, for example, customer advisors, banking advisors, personal financial advisors On closer inspection, each of them will have its own unique culture, and like most large businesses are likely to be something of a mix of culture and even, each branch, or division has its own culture. From table 1- Soft elements by McKinsey 7-S framework in Lloyds TSB and HBOS, while Lloyds TSB creates an exciting place to work with a lively and fun atmosphere, they affirmed on their website that they have a work hard, play hard culture. HBOS seems to have a more formal working environment with very professional attitude in their approach to work, results-driven, always looking for more ways to move forward and over-achieve. About leadership style, Lloyds TSB built a feedback and coaching culture with regular appraisals twice annually based on Key Performance Indicator system with hierarchy structure. HBOS employed a non-hierarchical culture where everyone was treated equally, fairly. The communication system in Lloyds and HBOS followed these styles as well, hierarchy and non-hierarchy respectively. I dont think these differences in leadership style and communication system were sufficiently considered in the takeover decision. Governance model of Lloyds and HBOS were almost the same, the core purpose was to make it better for their staff, customers and to maximise shareholders value over time. Both groups were led by a board comprising executive and non-executive directorswith wide experience.The roles of the chairman,the group chief executiveandthe boardand its governance arrangements, including the schedule of matters specifically reserved to the board for decision, were reviewed annually. Lloyds and HBOS had very different ways of doing business. Lloyds was very conservative, largely a consumer bank. HBOS was aggressively following the high risk business model, HBOS transformed their traditional banking activities into global trading and speculative operations with little oversight and policing. Although the way of doing business is very important in choosing a strategy for the organisation, the unexpected result of HBOSs strategy and the dominance of Lloyds in the takeover meant that the new merger organisation did not take time to affirm which business model should be followed, therefore this aspect was not critical in the decision making of the takeover. The performance management and reward systems: The Lloyds performance approach includes objective setting using a balanced scorecard, Lloyds has regular performance reviews with competitive remuneration package. HBOS has results-driven rewards, always looking for more ways to move forward and increase achievements. The salary they received is only the beginning because for every role there was a tailor-made total rewards package which was based around three key areas: Performance, Flexibility and Choice. Furthermore, remuneration package for each role, contributory pension scheme, share-save and share-plan schemes, numbers of holidays. are hard to match between the two organisations. These differences of culture will involve much due diligence to identify implicit as well as explicit issues and will require time to build up a proper plan for HRM. The outcome of this plan has an integral role in the decision of the takeover. As the result of the takeover, the above differences in culture mean that the exposure to a new culture is unavoidable. The employees of both Lloyds and HBOS not only need to abandon their own culture, values and belief but also have to accept an entirely different culture. The takeover also leads to changes in organisational climate, the main source of organisation conflicts, which are summarized below Conflict Post-takeover integration demands significant involvement in all level of organizations, both Lloyds and HBOS, causing conflict at work from individual level to organisation level. Organisation cultural: there is no doubt that Lloydss culture is dominant and may lead to feelings of superiority among some of the employees. The employees of non-dominating culture, HBOS, may also get feelings of loss of identity associated with Lloyds. The dissimilarity in the cultures can produce the feelings of hostility and significant discomfort, for example HBOS may feel uncomfortable with the hierarchy of organisation structure and the communication system of Lloyds. In case of hostility in certain environment, some teams may develop us versus them attitude which may be detrimental to the organisational growth. Conflict in maintaining stability: The need for reform in organisation structures, redefinitions of assigned duties and responsibilities, adjusting the procedures and methods of work after the takeover, can result in conflict in maintaining stability. There should be a commitment to maintain employment in those parts of the UK in which either HBOS or Lloyds TSB currently have significant operations. This should be backed by a commitment to take all possible steps to avoid involuntary redundancies in order to avoid the potentially devastating impact on local communities and economies of large site closures. Conflict in investment in resources: both Lloyds and HBOS have their own large resources that may already be committed to investments in other areas or strategies before the takeover. As this takeover had a short notice period, assets such as branch offices, CRM software, equipment and people which have just been invested cannot easily be altered, thence conflicts arise. Which invested categories should be dropped? In fact, HBOS had in-house call centre operations, while Lloyds had a policy to outsource or off-shore its call centre. Each call centre model has its own advantages and disadvantages, what operation model should be maintained? In the short term, HBOS calls for Lloyds TSB to review all existing and planned outsourcing or off-shoring of operations to maximise employment opportunities in the UK for current employees. Conflict with past contracts or agreements: Both Lloyds and HBOS entered into contracts or agreements with other parties, such as government, trade unions, suppliers, customers and their own employees. These contracts and agreements can conflict with the changes cause by the takeover. For example, there should be a statement from Lloyds TSB committing that HBOS employees pay, pension provisions, employment benefits will be protected. Also, there should be a commitment that if there are new terms and conditions of employment for HBOS and Lloyds TSB staff, those should be no less favourable than the terms and conditions applying before the acquisition. Conflict in power or influence: Another practical problem is differences in the grading or organisational structures. The organisational structures used have different designations for the employees. During the integration Lloyds need to develop a mechanism to remove the differences in the grading systems, bring them to equal levels between Lloyds and HBOS, introducing standard levels of control over decisions, resources or information. Lloyds TSB should make a commitment to dignity at work for all employees and commit to the highest standards in relation to equality, diversity, equal pay and future career development opportunities post-takeover. The reaction of the employees in conflicts can vary from anger to dejection and depression. There can also be a fall in the morale, commitment and loyalty which can lead to impaired performance. Identifying the conflicts in advance will help Lloyds TSB management decide on the takeover. I think Lloyds TSB management was confident enough in their ability to control the above defined conflicts and believed that they would get more chances of success in the changes below: Change: In the decision of the takeover bid for HBOS, Lloyds TSB management board had targeted the opportunity to change for a stronger Lloyds Banking Group. As a common reaction, every change in the enlarged Lloyds TSB is resisted at both the individual and the organisational level. According to Alvin Toffler (1970), people are naturally wary of change and suspicion is out of control. Besides the changes in strategic, legal, financial and technology, the changes in HRM should be carefully designed and proceed with gradual pace. As part of the decision regarding the takeover, Lloyds TSB had considered the strategy to overcome the individual resistance and organizational resistance. Monday 19 January is Day one, the two brands still remain separate. A spokesperson for Lloyds TSB said: It is business as usual. This statement helps to maintain the secure feelings in customers, shareholders and employees. From the early stage of the takeover, Lloyds TSB had set up a guiding team to provide change leadership and handle every steps of the change process. They have created a website to update on a regular basis to shareholders, employees and customers on the proposed acquisition of HBOS by Lloyds TSB and to give them information about the Lloyds Banking Group in this rapidly changing environment.Divisional changes will be communicated via line management and divisional intranet sites. HBOS partner unions, Accord and Unite, will continue to play an important role as before in the new business. There will be no major changes for the vast majority of HBOS employees. The existing HR policies and procedures remain in place. The 2009 pay review will be in May as usual. There will be little immediate change to Total Reward. The current pension arrangements will continue for all employees. Initially, there will be no change to the HBOS performance management approach. Employees will be introduced to the Lloyds Banking Group performance approach during 2009. Lloyds TSB was aware of the default response of resistance during the change of the takeover decision. Therefore they had suitable response to manage the sustaining of a healthy climate in order to gain a commitment to change in the whole organisation. Dilemmas facing Lloyds TSBs stakeholders Lloyds TSB and HBOS had, on a number of occasions over the years since 2000, discussed the possibility of a merger. It was only the unique circumstances of September 2008 that enabled this transaction to happen with the nature of the Governments involvement in the banking sector. In particular, the purpose of Governments interventions that is to stabilise the banking system, provide liquidity and to encourage more lending. Following the collapse of Lehmans, closely followed by the nationalisation of the worlds biggest insurance company AIG and the spreading of the world recession meant that the Government needed to take swift and decisive action by taking the extraordinary step of waiving competitions concerns to get the deal done. Lloyds TSB management board was very aware of the compelling logic of this transaction, including the substantial market positions they would secure and the significant and substantial synergies, the opportunities for growth which a stand-alone Lloyds TSB might not have been in a position to deliver to the same degree. Furthermore, the opportunity to acquire HBOS only came about in the middle of economic adversity and in conditions which are unlikely to be repeated. Besides the support from Government and the opportunity for growth, Lloyds TSB management board was very mindful of the difficult economic backdrop to this transaction with the prospect of further declines to come. However, Lloyds TSB purchased à £17.9 billion of HBOS net asset value for à £7.7 billion so, they were very much convinced that this was the right transaction for Lloyds TSB. The short-term outlook was indeed difficult and problems with the finances of HBOS will not disappear overnight. However, the earnings potential of Lloyds Banking Group will be significantly improved in the longer term. Lloyds TSB directors also understood that after the takeover, to reduce the systemic risk in the UK banking system, the recapitalization scheme has already cost Lloyds its 240-year-old independence. The UK Government, as part of the capital raising process, has now become a 43.4 per cent shareholder in the group. As part of Her Majestys Treasury (HMT) recapitalisation scheme, the Group was required to suspend the payment of cash dividends to ordinary shareholders until the HMT preference shares issued as part of the scheme are repaid. This is considered as a noticeable contribution from Lloyds TSB shareholders in their favourable voting for the takeover. One big concern to the Lloyds TSB employees and unions is the redundancy issue during the global financial recession. Although Lloyds TSB and the government dismissed reports of redundancies involving one third of the workforce and pledged to continue using HBOS headquarters in Scotland, the union leaders believe the job cuts will be about 15,000 in one year out of a 140,000 workforce. This brings concern to the employees about the serious plan which is designed to protect the members jobs and terms conditions of employment. The governments dilemma is how to stabilise the banking system and maintain an equitable business environment. The management boards dilemma is how to continue growing and manage the burden of the ailing HBOS, between short term and long term outlook. The shareholders dilemma is the potential of future substantial share value versus waiving current dividends or the workforce redundancies. In the context of the economic downturn in autumn 2008, Lloyds TSB had to consider the weighting between the benefits and adversities of the takeover, it was really the hard dilemma facing Lloyds TSBs stakeholder in making the decision of the takeover. Conclusion: 2008 was a very difficult and challenging year for the banking industry, the deteriorated market conditions have continued into 2009, both in the UK and overseas, a prolonged period of economic difficulty for many households and companies. The UK Government had to intervene in the banking system by providing capital and liquidity where the markets had failed. At times of great economic and financial uncertainty, many apparently settled ideas come under great scrutiny. When Lloyds TSB announced it was acquiring HBOS plc; and now about a year since the transaction was completed (16 January 2009), the deal is still receiving ceaseless criticism. Critics should consider what would have happened to the UK banking industry and the UK economic situation if the takeover had not taken place? If HBOS had failed, how many HBOS branches would have closed? How many employees would have lost their job? How many bank accounts of customers would have been affected? As a bank with a strong focus on customer relationships, Lloyds TSB is committed to helping its customers wherever possible to manage their way through these challenging times. Without doubt, the Lloyds Banking Group have spent great deal of time to overcome the challenges faced and fulfilled all necessary obligations to society. Here, never forget to mention about the crucial role of Human Resource Management during the pre-takeover and post-takeover. With only a short period of time for preparation, Lloyds TSB Human Resource Management have tried their utmost to create new HR practices and strategies that meet the requirements of the takeover. Employment law challenges, culture clashes, talent retention, employee engagement, recognition and conciliation conflicts, the HRM of Lloyds TSB has harmonised all activities in all phases leading to the creation of a unified organisation with a mission, vision, a clear purpose and values from two culturally different groups. Although there a re some shortcomings due to subjective and objective factors, the job that Lloyds TSB Human Resource Management is doing for employees and company is very valuable and highly valued, and it managed not to cause a big disturbance in the UK labour market. Finally, the decision by Lloyds TSB to takeover HBOS appears to have been the right transaction for the company. The support from government was definitely necessary and the favourable vote from both Lloyds TSB and HBOS shareholders showed that they believed this to be the best solution to the problems of both banks. The short-term outlook for the enlarged Group is challenging. Whenever economic conditions do begin to normalise, however, we believe Lloyds TSB will be in a very strong position to reap the benefits. Their strong franchise across the whole range of product lines will enable them to do just that. One of the most important ways in which leading businesses differentiate themselves from their peers is through the quality of their people and their strong commitment and Lloyds Banking Group believes that they have the qualities and the right people to ensure the bright future. APPENDIX 1: Background of Lloyds TSB and HBOS Lloyds TSB Bank Plc is a UK-based financial services group, which employed about 70,000 people. It was established in 1995 by the merger of Lloyds Bank, established in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810, creating Britains largest retail bank, over all, Lloyds-TSB would be the fourth-largest bank on the stock exchange in terms of assets. Lloyds provides a wide range of banking and financial services to personal and corporate customers. Its main business activities are retail, commercial and corporate banking, general and life insurance, pensions and investment provision. Its services are offered through a number of brands, including Lloyds TSB, Cheltenham Gloucester and Scottish Widows. Its UK turnover in 2007 was à £18 billion. HBOS is a financial services group, which employed about 72,000 people in the U.K., was created in 2001 in the 9.7 billion-pound merger of Yorkshire-based mortgage lender Halifax Plc and Edinburgh-based the Governor and Company of the Bank of Scotland. It is the UKs largest mortgage lender. HBOS provides a range of banking, insurance, financial services and finance-related activities in the UK and abroad. Its UK turnover in 2007 was à £4.25 billion. The deal of takeover of HBOS by Lloyds TSB was concluded on 16 January 2009. The three main conditions for the acquisition were: Three Quarters of HBOS shareholders voted in agreement with the boards actions; Half Of Lloyds TSB shareholder voted to approve the takeover; UK government dispensation with respect to competition law. On 19 November 2008, Lloyds TSB shareholders voted 95.98% in favour of the takeover. They also approved plans to raise à £5.5bn by issuing new shares and special preference shares. On 12 December 2008, the takeover was approved by HBOS shareholders. A group of Scottish businessmen challenged the right of the UK government to approve the deal by overruling UK competition law, but this was rejected. The government has allowed the takeover of HBOS by Lloyds TSB to bypass normal competition rules. The exchange of HBOS shares for Lloyds Banking Group shares took place at an exchange ratio of 0.605 of a new Lloyds Banking Group share for every one HBOS share held. As a result, the UK Government through Her Majestys Treasury owned approximately 43.4% of the enlarged ordinary share capital of Lloyds Banking Group. Lloyds Banking Group is now the largest financial services franchise in the UK with a range of leading market positions in important product lines, such as savings, current accounts, mortgages, insurance and long-term savings. They are also a leading player in the Small and Medium Enterprise (SME) and wholesale banking sectors. The Group clearly has a very significant retail banking footprint and, with approximately 3,000 branches, is present in more UK locations than any other financial institution. Lloyds TSB Chief Executive Officer Eric Daniels will be Chief Executive of the enlarged company, and the banks Victor Blank will be Chairman. References Mullins, L.J. (2007) Management and organisational behaviour. 8th edn. London: Prentice Hall Buono, A.F. and Bowditch,
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