The Fourteenth Amendment And The Civil War - 1281 Words

Faisal Ismail Mr. Gibbs US History 1 Honors 8 December 2014 The Fifteenth Amendment African-Americans had been enslaved and treated unfairly without justice for over a long period of time, and it was time to take action. The cruel discrimination led to the Civil War, where the nation had broken apart and fought over civil rights for slaves. When the North side of the nation won the war and the slaves were freed from their owners, Congress added three amendments to the Constitution of the United States. These were called the Reconstruction Amendments, and one of which was the 15th Amendment. ( ) The Fifteenth Amendment gave African American men the right to vote. The amendment was ratified on February 3rd 1870 and was adapted into the US Constitution on March 30th 1780. The amendment states â€Å"The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of race, color, or previous condition of servitude†. (American Vision 144) Not only did the amendment grant African Americans the right t o vote but also granted them as equal citizens. African Americans had to face a lot of obstacles that were put in their way to keep them from voting for about a century! The Fifteenth Amendment was ratified on February 3rd 1870. The amendment wasn’t fully recognized by the states for almost a century. Some states resisted to ratify the amendment. At one point the ratification count was at 11 Republican States agreeing andShow MoreRelatedEssay Equality and Citizenship1021 Words   |  5 PagesAt the end of the Civil war, the Union was faced with rebuilding a war torn nation. The North and South were no longer at war but their differing views on government, race, and individual rights created a deep divide in the country. The war brought freedom to 3.5 million former slaves but also for many women. (Gillon Matson p.571) With men at war or not returning from the war, women possessed a new level of independence. Blacks and women wanted to be treated fair; they wanted their voicesRead MoreEssay on Success of Reconstruction777 Words   |  4 Pagesfollowing the Civil War, which lasted from 1865 to 1877, in which the United States began to re build. The term can also refer to the process the federal government used to readmit the defeated Confederate states to the Union. While all aspects of Reconstruction were not successful, the main goal of the time period was carried out, making Reconstruction over all successful. During this time, the Confederate states were readmitted to the Union, the thirteenth, fourteenth, and fifteenth amendments were ratifiedRead MoreMilitary Rule Of The Civil War1374 Words   |  6 Pagescivilian courts were still functioning. 2. General Hovey probably thought a military court would easily declare Milligan guilty, while a civil court had a good chance of declaring him innocent. 3. According to the Court’s ruling, military rule would take precedence over civilian authority when civilian courts were not operating. For example, during a war where the civil courts stopped functioning. 4. Four Justices thought it was Congress, rather than the courts, who should be responsible for decidingRead MoreChallenges Of Radical Reconstruction748 Words   |  3 PagesFollowing the end of the Civil War in 1865, the United States faced many political challenges. One of these challenges would include the reintegration of the Confederate states that had seceded from the Union. There were many questions and issues with exactly how these states should be reintegrated back into the United States. Another challenge that quickly came to the forefront, after the Civil War, was how to handle the millions of freed African American slaves. This challenge would entailRead MoreCivil War Failed African American902 Words   |  4 Pagesâ€Å"The attempts in the Reconstruction period 1865 to 1877 to solve problems caused by the Civil War failed African American.† To what extent do you agree with this statement? 1. Introduction 1. Background: 1. Reconstruction was not only the plan to rebuild the U.S. after the Civil War, but also the process the federal government used to readmit the Confederate States 2. It was complicated because Lincoln ad Johnson had different ideas on how Reconstruction should be handled. 3. Lincoln had hisRead MoreEssay on The Civil War1055 Words   |  5 Pages The Civil War During both the civil war and civil war reconstruction time periods, there were many changes going on in the Union. The Emancipation Proclamation, as well as legislation such as the thirteenth, fourteenth and fifteenth amendments, was causing a new awakening of democracy; while the renouncing of secession by the South marked a definite triumph for Nationalism. As well, the government was involved in altercations of its own. During reconstruction, the legislative and executive branchesRead MoreAmendments846 Words   |  4 PagesThe Thirteenth Amendment, Fourteenth Amendment, and Fifteenth Amendment all have had a major impact on the United States of America from the beginning. These three amendments have changed our country immensely for the better. The Thirteenth Amendment officially abolished slavery, and is still illegal till this day. The Fourteenth Amendment stated that if you were born in the United States of America you were officially an American citizen no matter race. The F ifteenth Amendment banned each governmentRead MoreThe Civil War1178 Words   |  5 PagesThe Civil War During both the civil war and civil war reconstruction time periods, there were many changes going on in the Union.   The Emancipation Proclamation, as well as legislation such as the thirteenth, fourteenth and fifteenth amendments, was causing a new awakening of democracy; while the renouncing of secession by the South marked a definite triumph for Nationalism.   As well, the government was involved in altercations of its own.   During reconstruction, the legislative and executiveRead MoreSlavery in the United States649 Words   |  3 Pagesduring the final years of the Civil War and the Reconstruction Era when the anti-slavery President Abraham Lincoln, with Congress, debated that African American citizens had the right for individual liberty. When President Andrew Johnson took Lincoln’s place, the Thirteenth Amendment was enacted by congress in 1865 which abolished slavery. Then the Civil Rights Act of 1866 was proposed by Congress in 1865 as well, which was intended to protect African American’s civil rights, but was then vetoed byRead MoreTaking a Look at the Reconstruction Era1313 Words   |  5 Pagesto the 1877. The period passed through out a lot of problem like violence the assassination of president Abraham Lincoln, country been divided over the issue of slavery and a lot of reconstruct had to be made after the fight of the civil war. At the time the civil war won the victory around 3 million slaves had their freedom. But their where still problem in rebuilding the nation. When president Abraham Lincoln died in April 14,1865. A new president was elected named Andrew Johnson under his supervision

Island Report Free Essays

Purpose As requested, this report is an assessment of the suitability of Fiji Island for package holidays. The report summarizes the main attractions as well as the accessibility and accommodation. Location and access The Fiji islands are located in the Pacific Ocean off the eastern coast of Australia, therefore the most convenient way of traveling to the island is by plane or by boat. We will write a custom essay sample on Island Report or any similar topic only for you Order Now Once on the island, traveling from the airport is possible by using the public transportation such as busses or taxis. Busses run from the airport or the center of the island to any attraction every 15 minutes during the day and every1 hour during the night. Accommodation and restaurants The island aims to provide traditional and authentic Fiji accommodation. This is achieved through the use of bungalows instead of hotels with lined ceilings and thatched roofs. The result is stylish, comfortable and caters for all tastes. There are a lot of restaurants on the island and Fiji’s food is a veritable melting pot of cultural influences from all over the world. However, because of the island’s politics, most of the restaurants close before 10 pm and if tourists want a certain type of restaurant, they have to make a reservation in advance. Tourist attractions Fiji Island offers a wide range of attractions and activities that visitors enjoy such as sailing, scuba-diving, dolphin watching or shopping tours. Also, the island is provided with an open-air fitness where the tourists can relax. However, the prices of this facility are higher in the summer period due to the big number of visitors. Recommendation In conclusion, due to Fiji’s natural beauty as well as the modern facilities, it represents one of the most visited islands and would be able to provide the facilities necessary for a perfect packaged holiday. How to cite Island Report, Essay examples

Measuring Cost In Value Equation Using Time -Myassignmenthelp.Com

Question: Discuss About The Measuring Cost In Value Equation Using Time? Answer: Introduction In manufacturing business corporations, the cost accounting plays a vital role. Cost accounting actually refers to summarize, analyze, process to record, evaluate and allocate various sorts of courses of actions to control the organizational cost or liability. Controlling cost helps to reduce the organizational costs that pilot high profitability (Drury, 2013). The business organizations are generally inclined towards implementing various types of costing system for their organizations like traditional costing system, activity based costing and many others. In contemporary times, the rise of another important costing system can be absorbed and that is widely known as Time Driven Activity Based Costing (TDABC) (Helmers Kaplan, 2016). It can be perceived that the traditional costing approach is most popular costing approach among the business organizations. Nevertheless, in recent times the business concerns are experiencing numerous step backs while using the traditional costing syst em. Due to this reason, R. S Kaplan and S.R Anderson has developed TDABC in the year of 2004 in order to overcome the issues regarding usage of traditional costing approach and ABC (Kaplan et al., 2014). The chief objective of this report is to evaluate and analyze numerous features of TDABC and to explain how implementation of TDABC is appropriate. According to the information provided, the responsibility of the management consultancy organizations to explain the appropriate way to implement TDABC to the clients. Numerous parts of this report explain the features, description and comparisons of ABC and Traditional Costing and Sustainability of TDABC in the client business organizations. Description of the client The client of the consultancy business organization is a company that manufactures tires of the cars; named Ansell. The major operation of the organization is to manufacture tires for various automobiles. The aim of the management of the organization is to manufacture products of the highest quality. The high quality products might be manufactured when there is presence of lesser variation in the process of the production (Bahr Price, 2016). In the operation of production of Ansell, variation can be noticed in the total manufacturing process. Presently, the traditional costing approach is used by the business organization in their process of manufacturing products. The CEO of the organization recently considered the adoption and implementation of TDABC in their process of manufacturing as the variances can effectively put negative influences in the outputs of the organizations. Time Driven Activity Based Costing (TDABC) The previous discussion explains the basic idea of TDABC has been eventually developed in order to overcome various issues of traditional costing approach and ABC. In the process of TDABC, the resources costs are assigned with the cost objects in order to help two particular sets of estimate and those are; The cost per time unit for resource supply capability to cost activities Estimation of the mandatory time units for performing any activity Multiplication of the cost per unit of every resource group by the anticipated time for each of the activities Features: In TDABCs case, it can be found out that this specific approach has few particular features and they are as follows: Under the procedures of TDABC, it tends to become a lot easier for the cost accountants to allocate cost to various manufacturing activities. Along with that, the procedure also takes lesser time for working. TDABC integration can also be done in an easier way with the available or existing ERP or Enterprise Resource Planning system of the organizations which enhances the manufacturing procedures of the companies. All the production managers tend to become capable of generating correct monthly operation reports with necessary help from TDABC. The costing system under TDABC is also considered to be more competent than ABC and the conventional costing system because it uses the manufacturing capability of the organizations properly. The implementation procedure of TDABC is helpful for the production managers in effectively forecasting the demands of resource. TDABC implementation also provides a cost effective and faster changes within the models of costing. The TDABC implementation also makes small yet significant available information for the managers in order to solve the various types of issues associated with the manufacturing procedures. One of the most significant features of TDABC is that it can be implemented in an easier way and can be utilized in any industry. All the above characteristics of TDABC indicate the dominance of the costing system compared to any other available system. It is necessary to mention that TDABC has significant differences with the traditional costing system. Simultaneously, there are some important differences between ABC and TDABC approaches. The next section discusses the differences between both the systems: TDABC vs. ABC system The ABC system is considered as the answer of the incorrect methods of the accounting standards of America. The major areas of concern of the ABC costing system is associated with the fact that how much has been already done for the activities rather than how much has been spent. On the contrary, the major areas of concern for the TDABC costing system is associated with the recognition of the capability of every department or procedures for making the cost allocation of the capability of each of the resource groups over the cost objectives on the basis of the essential time for performing every activity. Considering the ABC process, one can find out a number of cost pools with several kinds of cost drivers. The cost pool is regarded as the entire cost related to an individual activity and the cost driver is considered as a major feature of Abc which affects the performance and cost of the cost activities. In terms of TDABC system, a decline in the work demand within a specific depart ment can be found out and the procedures of TDABC is helpful for the managers within any organization for estimating the released necessary resource quantity. It also indicated that TDABC is capable of capturing different features of any individual cost activity with necessary help of estimated timeframe. As far as the procedures of ABC are concerned, the indirect costs are allocated on the specific cost activities, therefore they are assigned on specific cost objectives. Along with that, with necessary help from the cost drivers, the operating costs of indirect resources are also assigned with cost activities. In terms of TDABC, its developed equations helpful for allocating the time and cost in individual activity on the basis of its specific features. Nonetheless, in both the bases of ABC and TDABC, computations are done in six specific stages. Therefore, from this discussion, it can be found out that the major differences of both the systems of ABC and TDABC. Traditional costing approach vs. TDABC The significant differences among the traditional costing system and TDABC are that TDABC is a complex system while the traditional costing system is simpler. Under the traditional costing system; there is a need of the cost objectives and the used resources to evaluate numerous cost activities, but the TDABC system, numerous cost activities might be seen regarding the activities that are used in cost objectives (Rumble, 2012). The board members of the business organizations generally adopt the TDABC system when high amount of overheads are present with the huge numbers of various miscellaneous products. Requirement of accurate and reliable way to manage the organizational costs is immense in the market. It is noticed that in traditional single costing system, usage of single overhead pool might be unable to calculate the true cost. In the method of traditional costing system, various random allocation of the cost objects might be seen on the basis if machine hours or labor (Cooper, 2017). It can surely be considered as a significant difference. The inclusion of the products that are identifiable might be seen in the TDABC where accumulation of numerous expenses like depreciation, salaries and many others can be seen in the traditional costing system. Apart from that, in the process of traditional accounting system the accountants determine the production cost based on the customers feedback and the pocket range. Implementation of TDABC helps to lower the cost of production to increase the productivity (Cohen, 2014). Thus, it can be said that there are significant differences among TDABC and the traditional costing system. Suitability of TDABC The discussion above describes various aspect of TDABC like features, differences and others. It is important to determine whether TDABC is suitable in manufacturing organizations. The discussion in this part of this report explains how appropriate TDABC can be in the business organizations. TDABC has got the potential to create an appropriate insight in various cost activities that are carried out by the business organizations. In relation to the costs linked in the traditional accounting system, the data regarding costs play a vital role to strategic decision making to continue the process of the organization. so, in the absence of TDABC, the business concerns would not be able to evaluate the effect of individual activities on the profitability of the business organization (Schulze, Securing Ewering, 2012). Another major benefit of the implementation of TDABC is the difference between the capacity that is uses and the capacity that is supplied. The whole process of calculating the needed time to continue various activities and also to link them with the cost calculations that provides powerful insights regarding cost management to the supervisors or the managers. System of DABC covers all the sectors of enterprise resource planning and because of this the precise costs can with ease follow each and every order transaction of the business concerns. The implementations of TDABC explain a precise picture of the processes to give out costs to some specified customers to empower the profitability analysis relationship (Hoozee 2013). Most significantly, various implementations of TDABC help to manage the business organizations to take the correct decisions. In this way, the business organizations acquire the ability to identify various business processes using the help of TDABC, and it allows the organization to negotiate with the clients in a better way (Carli canavari, 2013) Model of TDABC helps the business organizations to identify the cost opportunities to enhance the efficiency of the process of production. Apart from that, it helps to enhance the capacity of production of the business organizations (Namazi, 2016). It requires mentioning that the model of TDABC might be updated easily according to the style of operations of the organizations. The discussion above explains how useful TDABC is in the business organizations. Implementation of TDABC in the organization like Ansell will help to increase the production process efficiency (Kaplan et al., 2015). Then the management of TDABC can acquire appropriate insight regarding the nature of the cost of the organization; because in integration of TDABC with various other system of the organization like planning of enterprise recourse and many others. So from the above mentioned discussion it can be perceived that TDABC will be appropriate for Ansell. Conclusion The report explains that TDABC is a new approach for cost accounting in the business organizations. The aspects of TDABC explain that the new system is easier to assign various cost activities and it can be integrated with the ERP system. It is seen that TDABC has some basic differences with the traditional costing system and ABC system as it can be implemented in diversified organizations with many overheads as well as many products. Apart from that, TDABC assigns the total costs for the cost activities more accurately than the traditional system of costing. Finally the report proves the appropriateness of TDABC in Ansell for having various benefits and above all TDABC helps the business organizations in process of effective decision making. References Bahr, W., Price, B. J. (2016). Radio frequency identification and time-driven activity based costing: RFID-TDABC application in warehousing. Carli, G., Canavari, M. (2013). Introducing direct costing and activity based costing in a farm management system: A conceptual model.Procedia Technology,8, 397-405. Cohen, M. X. (2014).Analyzing neural time series data: theory and practice. MIT Press. Cooper, R. (2017).Target costing and value engineering. Routledge. DRURY, C. M. (2013).Management and cost accounting. Springer. Emblemsvg, J., Bras, B. (2012).Activity-based cost and environmental management: a different approach to ISO 14000 compliance. Springer Science Business Media. Fleming, N. D., Lu, K. H., Calhoun, J. D., Jhingran, A., Arzu, I., Soliman, P. T. (2016). Cost comparison of treating low-and intermediate-risk endometrial cancer using time-derived, activity-based costing (TDABC) in a large regional cancer network delivery model. Frank, B. D., Olivieri, N. D., Ghafar, R., Calhoun, J., Guzman, A., De La Cerda, I., ... Minsky, B. D. (2017). Time-Driven Activity-Based Costing (TDABC) in Radiation Oncology: A Method for Implementation.International Journal of Radiation Oncology Biology Physics,99(2), E395. Hardan, A. S., Shatnawi, T. M. (2013). Impact of applying the ABC on improving the financial performance in telecom companies.International Journal of Business and Management,8(12), 48. Helmers, R. A., Kaplan, R. S. (2016). TDABC in primary care: results of a Harvard/Mayo Clinic collaboration: a partnership between Mayo Clinic and Harvard Business School brought a costing method developed for manufacturing into a primary care setting, helping identify areas for greater efficiency.Healthcare Financial Management,70(7), 34-42. Hooze, S. (2013). Designing time-driven activity-based costing systems.The routledge companion to cost management, 126. Kaplan, A. L., Agarwal, N., Setlur, N. P., Tan, H. J., Niedzwiecki, D., McLaughlin, N., ... Saigal, C. S. (2015, March). Measuring the cost of care in benign prostatic hyperplasia using time-driven activity-based costing (TDABC). InHealthcare(Vol. 3, No. 1, pp. 43-48). Elsevier. Kaplan, R. S., Witkowski, M., Abbott, M., Guzman, A. B., Higgins, L. D., Meara, J. G., ... Wertheimer, S. (2014). Using Time?Driven Activity?Based Costing to Identify Value Improvement Opportunities in Healthcare.Journal of Healthcare Management,59(6), 399-413. Luo, L., Wang, F. J., Cheng, W., Qing, F., Zhu, T. (2015). Research on Health Service Cost Accounting Based on the Application of TDABC. InProceedings of the 21st International Conference on Industrial Engineering and Engineering Management 2014(pp. 573-577). Atlantis Press, Paris. McLaughlin, N., Burke, M. A., Setlur, N. P., Niedzwiecki, D. R., Kaplan, A. L., Saigal, C., ... Kaplan, R. S. (2014). Time-driven activity-based costing: a driver for provider engagement in costing activities and redesign initiatives.Neurosurgical focus,37(5), E3. Namazi, M. (2016). Time-driven activity-based costing: Theory, applications and limitations.Iranian Journal of Management Studies,9(3), 457. ker, F., Ad?gzel, H. (2016). Time?driven activity?based costing: An implementation in a manufacturing company.Journal of Corporate Accounting Finance,27(3), 39-56. Olivieri, N. D., Frank, B. D., Calhoun, J. D., Guzman, A. B., Onwenu, J. N., De La Cerda, I., ... Jeter, M. (2017). Measuring cost in the value equation using time-driven activity-based costing (TDABC) at The University of Texas MD Anderson Cancer Center, Division of Radiation Oncology. Rajabi, A., Dabiri, A. (2012). Applying activity based costing (ABC) method to calculate cost price in hospital and remedy services.Iranian journal of public health,41(4), 100. Rumble, G. (2012).The costs and economics of open and distance learning. Routledge. Rumble, G. (2012).The costs and economics of open and distance learning. Routledge. Schulze, M., Seuring, S., Ewering, C. (2012). Applying activity-based costing in a supply chain environment.International Journal of Production Economics,135(2), 716-725. Siguenza-Guzman, L., Van den Abbeele, A., Vandewalle, J., Verhaaren, H., Cattrysse, D. (2014). Using Time-Driven Activity-Based Costing to support library management decisions: A case study for lending and returning processes.The Library Quarterly,84(1), 76-98.

Philosophy Originated From The Greek Language. It Is Made Up Of Two Wo

Philosophy originated from the Greek language. It is made up of two words: "philein" which means to love and "sophia" which means wisdom. There are three fundamental questions in the field of philosophy which are referred to as the Existential Concerns. "What can I know?", "What ought I to do?", "What is the meaning of life and my place in the universe?" These complex questions are discussed in the basic areas of philosophy. Epistemology is the theory of knowledge. The major question in this area is, what is truth? There are various theories about the correct answer. One explanation is the Correspondence Theory of Truth. This theorem puts forth the idea that the only real truth has tangible evidence to back it up. For example, a witness to a crime. That person was the only one, other then the direct people involved who know what happened. However, religion and science are two forms that go against this theorem. Another theory is nothing is truth. This consists of the idea that we cannot know anything with certainty. The followers of this theorem are usually classified as being "skeptical". Another explanation for truth is considered Sense Perception. Sense Perception is subjective and relative, therefore it is not a tangible form of knowledge. There is still one more form of determining the truth, mathematics or Intellectual Knowledge. For example, if I were to ask you to add two and three, the only true answer you could give me would be five. The is not a subjective or relative example. Many people consider math to be a universal truth. There are various questions associated with the area of ethics. Each of them deal with morals. Morals are defined as the right conduct or duties of a man. The first question is, are there any universal moral values? Moral relativists will either deny or be in favor of the existent of universal values. One instance where I can explain this idea, is with the Nuremberg trials of 1946. Post World War II, several top officials of the Nazi regiment were put on trial for the "crimes they committed against humanities". However, they didn't plead guilty. Their defense was that they were simply following orders and the laws presented by the state. Do you believe that is a suitable reason for their actions? If so, you believe that universal moral values do not exist. That each country and/or group of people have separate rights and wrongs associated with their culture. On the other hand if you feel that the Axis Powers were correct in putting these officers on trial, then you believe that there are basic moral values, that should be obeyed. The term for this is Equal Dignity. Therefore you believe in a Universal Justice also known as Cicero Natural Law Doctrine. The second question that is discussed, when speaking of ethics, is "What principles should guide my actions or choices?" In other words, what do I base my decisions on? Most people judge their behavior by what is good, fair or just. Others by what will bring them pleasure. These people believe in hedonism. There are individuals that determine their actions by fear, self-preservation or instinct. Furthermore another question is, what makes a society a just one? There are two sides to this question. A major issue concerned with this argument is the imprisonment of convicted criminals. On one hand, some people believe in retributive justice. They understand that one should repay their debt to society, if necessary. They believe in rehabilitation. On the other hand, those who believe in distributive justice are under the concept, that equal wealth is the answer to making a society just. These people believe that everyone should be treated the same. Finally, the last question dealing with ethics is, what is the relationship between laws and morality? Laws are the rules established by an authority. Many people think that laws should be written with the pure intent of creating and therefore, keeping a society in order. Others feel that laws should be written with moral rights in mind. For instance the topic of abortion. Although the law was passed that it is legal for a woman to get an abortion, many believe the law in morally wrong. These people believe that, a child is a life from conception and should have the right to live. Whether they are correct or not, is the law a moral one? Then, the question should be asked who

A Life You Love essays

A Life You Love essays Today is the day I will save your life; I will die for your husband and best friend, But for me, this is hardly a difficult task; I cant find a better way for my life to end. The last hope for my salvation, I pledged to be by your side, Though my love is unrequited, this intense passion has not died. That day I shared my feelings with you; I hope my message was clear, I would not hesitate to die for you, and those you hold most dear. My sweet Lucie, please understand, this is something that I must do, This is my opportunity to leave my mark, and make my dreams come true. I know you would die without your husband, and your happiness is my only goal, To die and let you live life to its fullest would be the deliverance of my debauched soul. I had been hurting and suffering for years and years, my only feeling was pain, I know if I dont save your husband, all this sorrow will have been in vain. Kiss your dear husband and child for me, and shake your old fathers hand, Make sure you have them remember me, and let them know Ill be in a much better land. I went through life wasting my talent, and gave up a brilliant career, Only because, I felt inadequate to those lawyers I thought I could never come near. You were the last dream of my soul, and even though you dont feel the same way, Look back on this time and know I love you, please commemorate this day. I see a bright future ahead of you, one filled with joy and love, From this day forward Ill be your angel; Ill look down at you from above. Night after night, my heart was aching, and my pillow was soaked with tears, But you became my sole inspiration, and you dissipated all my fears. I know that Charles means everything to you and of course so much more, I know youd be pained without him and that would break my heart to its core. ...

How to Make Hydrogen Gas (4 Methods)

How to Make Hydrogen Gas (4 Methods) Its easy to generate hydrogen gas at home or in a lab using common household materials. Heres how to make hydrogen safely. Make Hydrogen Gas - Method 1 One of the easiest ways to obtain hydrogen is to get it from water, H2O. This method employs electrolysis, which breaks water into hydrogen and oxygen gas. water9-volt battery2 paperclips Unbend the paperclips and connect one to each terminal of the battery.Place the other ends, not touching, into a container of water. Thats it!Youll get bubbles off both wires. The one with more bubbles is giving off pure hydrogen. The other bubbles are impure oxygen. You can test which gas is hydrogen by lighting a match or lighter over the container. The hydrogen bubbles will burn; the oxygen bubbles will not burn.Collect the hydrogen gas by inverting a water-filled tube or jar over the wire producing the hydrogen gas. The reason you want water in the container is so you can collect hydrogen without obtaining air. Air contains 20% oxygen, which you want to keep out of the container in order to keep it from becoming dangerously flammable. For the same reason, dont collect the gas coming off both wires into the same container, since the mixture could burn explosively upon ignition. If you wish, you can collect the oxygen in the same way as the hydrogen, but be aware this gas is not ve ry pure. Cap or seal the container before inverting it, to avoid exposure to air. Disconnect the battery. Make Hydrogen Gas - Method 2 There are two simple improvements you can make to improve the efficiency of hydrogen gas production. You can use graphite (carbon) in the form of pencil lead as electrodes and you can add a pinch of salt to the water to act as an electrolyte. The graphite makes good electrodes because it is electrically neutral and wont dissolve during the electrolysis reaction. The salt is helpful because it dissociates into ions which increase the current flow. Tools: 2 pencilssaltcardboardwaterbattery (could go as low as 1.5 V with the electrolyte)2 paperclips or (better yet) 2 pieces of electrical wire Steps: Prepare the pencils by removing the erase and metal caps and sharpening both ends of the pencil.Youre going to use the cardboard to support the pencils in the water. Lay the cardboard over your container of water. Insert the pencils through the cardboard so that the lead is submerged in the liquid, but not touching the bottom or side of the container.Set the cardboard with pencils aside for a moment and add a pinch of salt to the water. You could use table salt, Epsom salts, etc.Replace the cardboard/pencil. Attach a wire to each pencil and connect it to the terminals of the battery.Collect the gas as before, in a container that has been filled with water. Make Hydrogen Gas - Method 3 You can get hydrogen gas by reacting hydrochloric acid with zinc. Zinc Hydrochloric Acid → Zinc Chloride HydrogenZn (s) 2HCl (l) → ZnCl2 (l) H2 (g) hydrochloric acid (muriatic acid)zinc granules (or iron filings or strips of aluminum) Hydrogen gas bubbles will be released as soon as the acid and zinc are mixed. Be very careful to avoid contact with the acid. Also, heat will be given off by this reaction. Homemade Hydrogen Gas - Method 4 sodium hydroxide (found in certain drain clog removers)aluminum (included in the drain removal products or you can use foil) Aluminum Sodium Hydroxide → Hydrogen Sodium Aluminate2Al (s) 6NaOH (aq) → 3H2 (g) 2Na3AlO3 (aq) This is an extremely easy method of making homemade hydrogen gas. Simply add some water to the drain clog removal product! The reaction is exothermic, so use a glass bottle (not plastic) to collect the resulting gas. Hydrogen Gas Safety The main safety consideration is making certain hydrogen gas isnt allowed to mix with oxygen in air. Nothing bad will happen if it does, but the resulting air-hydrogen mixture is much more flammable than hydrogen on its own because it contains oxygen, which acts as an oxidizer.Store hydrogen gas away from an open flame or another ignition source.

Is leadership something that comes naturally Essay

Is leadership something that comes naturally - Essay Example (1999) are of the opinion that leaders are made since extensive training is needed in any case, therefore those who thinks that leaders are born will be unable to explain why then training and development sessions are held in order to make a leader more successful. Eric Garner (2005) is against the saying that leaders are born. It takes certain efforts in order to become a leader. Garner are of the opinion that it is not enough to be born with certain qualities, a person also has to be aware of how these could be used in order to produce results. Wally Bock (2006) adopted a balanced approach while expressing his views on the subject. He says leadership comes both naturally and with education and experience. He says that it cannot be just one of the two, otherwise we would have had leaders who have no educations at all and they would be very successful or in the other case we would have had leaders who are alike since they have received the same education and were trained to become a model leader. A vast majority of writers are agreeing with the opinion of Bock. They, however, argue about which qualities have to be inborn and which qualities should come with education and experience. They say that anyone can learn to become a leader. However, there are some qualities that cannot be taught, the so called intangible ones, and the ones that cannot be measured and explained, for instance, natural decision making, complex problem solving, and self-development and group development. On the other hand, there are many qualities that can be learned, for instance, time and task management, communication skills, negotiation skills, ways how information can be presented, debating and most importantly motivating. Without developing the abilities that are even inborn apart from learning new ones a leader will never become successful. Duggan and fellows (2007) suggest that for becoming successful in profession, leaders must focus on self-development, therefore, be quite

Germany Essay Example | Topics and Well Written Essays - 250 words - 16

Germany - Essay Example He was excluded and spent his time of seclusion to translate the new testament into German and later got back to Wittenberg, married and that is how Protestant and Lutheran started. He entered Erfurt Monastery in 1505 and joined the Augustinian Order of Hermit as he learnt the Bible and Catholic teachings. He first read the Bible in 1503 that was rarely read and was happy when he came back from the library. By the time he hid in Wartburg Castle between 1521 to 1522, he translated the New Testament from Latin to German dialect. The protestant renovation began as a movement of doctrinal and moral reform (Gonzalez, 2010 p. 1188). The reformation had been infusing crosswise Europe for a couple of years. Luther was lucky to have a protector as well as supporter known as Fred the Wise. Gonzalez (2010 p. 1192) states that the creation of the portable kind by Gutenberg and this also meant that the books, pamphlets, Bibles and many more belonging to Martin Luther could be widely dispersed

The AIDS inflicted citizens in Africa Essay Example for Free

The AIDS inflicted citizens in Africa Essay The dilemma regarding the AIDS inflicted citizens in Africa is a modern day paradox. On one hand, mankind can achieve huge strides in the research necessary to control the malady which has already killed so many. On the other, modern civilization risks the exploitation of fellow human beings born into a more unfortunate and primitive lifestyle deficient in modern healthcare. In general, the debate which takes precedence above all others is the question of equality in the context of morality. According to the traditional perspective of Immanuel Kant constructed in his Metaphysics of Morals, the universal presumption of moral principles is that they apply to all rational autonomous beings at all places and at all times. Thus, Kant would argue that the medical care provided to trial participants in Africa should be equivalent, or at least comparable, to the treatment offered to citizens in more advanced societies as long as it does not compromise the rational autonomy of the people involved. To approach the issue from Kants perspective, it is important to first delineate the considerations Kant would reason to be the most morally relevant when attempting to provide a conclusion. In his work, Kant clearly outlines three general principles about moral duties as well as other considerations which can are applicable to the situation. First of all, it would be essential to determine if giving inferior treatment to uneducated individuals in Africa is a choice based on a sense of duty, or if ulterior aims might exist. On first glance, this seems to lead to an initial conclusion that failing to provide volunteers with comparable treatment is an unfair and immoral choice based on monetary and political motives. However, further analysis reveals that the rational autonomy of the individuals in question must also be considered. Providing the luxurious treatments seen in more advanced countries to people in Africa may violate their rational autonomy by tempting or deceiving them into an action they would not normally undertake. Therefore, any choice made in regards to AIDS treatments must reflect a desire to do what is right while preserving and respecting the rational autonomy of the individuals. Kants second consideration would be to base the moral quality of his decision on the intentions of that choice, not the actions consequences. Thus, the issue cannot be resolved by developing a best case scenario, but must be determined by distinguishing which option is enacted with the best moral intentions. In this way, it is likely that the most morally acceptable choice would be the one which puts Africas citizens on an equal consideration with the rest of the world, and so would include providing identical treatment. Thirdly, it is important to make sure that whatever direction is taken, it is taken out of respect for the moral law and for no other reason such as need or desire. To fulfill the third principle, an action cannot violate the categorical imperative. Otherwise, the decision cannot be considered as a moral action. The moral law, as Kant explained, is a universal formula that ensures all actions are undertaken with pure motives without consideration of the consequences. When deciding whether or not to give Africans the same health benefits that AIDS phase II trial volunteers would receive in other countries, even if they are very expensive, it is important to determine whether the choice could be applied universally. In other words, Kant would compare the options faced by pharmaceutical companies by placing all of them in the categorical imperative, and observe which options are inherent contradictions. When weighing the options using the categorical imperative, the results once again suggests that providing African volunteers with equivalent treatments takes precedence over all other options. The concept of appropriate treatment, if determined only on monetary, social and political status, would seemingly contradict itself if it were considered a universal law. Kant would argue that by issuing care by status, people would be applying a different standard to their own behavior than they would want applied to themselves and everyone else. The problem with the contradiction argument, critics might argue, is that it may prove difficult if not impossible to provide supporting evidence that universalizing the maxim would result in a contradiction. Advocates would then turn to another method of formulating the categorical imperative to support their position. In the alternate interpretation, known as the second formulation, the categorical imperative serves as a requirement that we must not treat other rational beings as mere means to our own purposes. This tactic allows proponents of equal treatment to establish their position without attempting to prove any inherent contradictions. Instead, they simply have to show that by failing to meet the precedence of care in other countries, pharmaceutical companies are treating people as ends not as means. Critics may also claim that a truly moral decision would factor in the hard work of the manufacturers of the antiretroviral drugs, as well as anyone else involved in the trials. Kant would not dismiss this assertion. In Metaphysics of Morals, Kant does not attempt to claim that all actions must always be undertaken out of a sense of duty, he simply outlines the necessary components required to establish an individuals own autonomy based on reason. When considering the dilemma faced by pharmaceutical companies, the only critical consideration is whether the ultimate decision conforms to moral law. They may also argue that the drugs given to Americans and Europeans are so much more expensive to Africans that it cannot be deemed appropriate to treat African volunteers with them. To this argument, Kant would refute the idea that the term appropriate should not be applied universally. In his perspective, all humans are rational autonomous agents who deserve the same treatment. If a law or rule cannot be applied universally, a.k.a. fails the categorical imperative, then it should not be considered moral. The philosophy of the Metaphysics of Morals appears to lend itself nicely to the dilemma of conducting phase II trials in Africa by clearly addressing the major moral concerns involved while at the same time respecting the complexity of the conflict. Kant would recognize that other peoples livelihoods and incomes can be considered when deciding whether or not to provide expensive treatments in Africa, as long as the ultimate decision does not violate moral law. Pharmaceutical companies must insure that they are not manipulating or violating the rational autonomy of their possible test subjects in Africa, but may still consider other variables such as profits and benefits to society. Consequently, pharmaceutical companies appear to have a moral duty to provide adequately equal care to all phase II trial participants in Africa, providing they take steps to insure they are not violating anyones rational autonomy in the process.

political views of federalists and republicans :: essays research papers

The political views of the federalist and the republicans towards the government of the United States of America were different. The republicans stressed equality of rights among citizens allowing people to govern themselves. The federalists believed in a stronger government one in which was sovereign and had superior power over the local governments.   Ã‚  Ã‚  Ã‚  Ã‚  The republicans view almost always proved to be a disaster but the republicans believed that if a republican government could succeed anywhere, it would be within the virtuous communities of the United States of America. The republicans felt that replacing a monarchy government with a republican government would give the people many more rights and freedoms. Many people thought that it required too much public integrity for the people to govern themselves and live independently. It would require the people to obey laws and maintain order with the absence of monarchy forces.   Ã‚  Ã‚  Ã‚  Ã‚  The federalists view saw the republicans view as a weakness. They insisted on a stronger common government. The federalists had an understanding that there could only be one sovereign in a political system, one final authority that everyone must obey and no one can appeal. They thought this was the only effective way in creating an effective central government. The independent states seemed to think it was clear that each one of them were independently sovereign, although based on history only small countries were suitable for the republican government. With history proving the republicans wrong for trying to create a republican government in the states the federalists were slowly trying to create a stronger central government. There first step was making the sovereign states agree to the Articles of Confederation which established a close alliance of independent states. The federalist central government was referred to as a â€Å"confederacy†. political views of federalists and republicans :: essays research papers The political views of the federalist and the republicans towards the government of the United States of America were different. The republicans stressed equality of rights among citizens allowing people to govern themselves. The federalists believed in a stronger government one in which was sovereign and had superior power over the local governments.   Ã‚  Ã‚  Ã‚  Ã‚  The republicans view almost always proved to be a disaster but the republicans believed that if a republican government could succeed anywhere, it would be within the virtuous communities of the United States of America. The republicans felt that replacing a monarchy government with a republican government would give the people many more rights and freedoms. Many people thought that it required too much public integrity for the people to govern themselves and live independently. It would require the people to obey laws and maintain order with the absence of monarchy forces.   Ã‚  Ã‚  Ã‚  Ã‚  The federalists view saw the republicans view as a weakness. They insisted on a stronger common government. The federalists had an understanding that there could only be one sovereign in a political system, one final authority that everyone must obey and no one can appeal. They thought this was the only effective way in creating an effective central government. The independent states seemed to think it was clear that each one of them were independently sovereign, although based on history only small countries were suitable for the republican government. With history proving the republicans wrong for trying to create a republican government in the states the federalists were slowly trying to create a stronger central government. There first step was making the sovereign states agree to the Articles of Confederation which established a close alliance of independent states. The federalist central government was referred to as a â€Å"confederacy†.

Media and Foreign Policy

POLITICAL SCIENCES| MEDIA AND FOREIGN POLICY| SUBMITTED TO | MR. IJAZ BUTT| SUBMITTED BY| AYESHA SADDIQUE (01)| SADIA ABBAS (29) MISHA ZAIDI (12) INSTITUTE OF COMMUNICATION STUDIES PUBJAB UNIVERSITY LAHORE | B. S (HONS. ) 3RD SEMESTER (MORNING) FOREIGN POLICY AND MEDIA DEFINITION OF FOREIGN POLICY Foreign Policy can be defined as â€Å"Relations between sovereign states. It is a reflection of domestic politics and an interaction among sovereign states.It indicates the principles and preferences on which a country wants to establish relations with another country. † WHY IT IS NECESSORY FOR A COUNTERY? No country today can think of a life independent of other nations. Every country has to develop relations with other countries so as to meet its requirements in economical, industrial and technological fields. It is thus necessary for every country to formulate a sound foreign policy. Foreign policy is necessary for a country to * Promote sovereignty & national interest Cope up th e problems of environment, Terrorism and many others. * Solve the issues of poverty, underemployment, and Unemployment * Strengthen territorial & security integrity of country * Get International resources for countries domestic socio- economic context such as trading. DETERMINANTS OF THE FOREIGN POLICY The following are the determinants of the foreign policy of Pakistan:- Administrative  Troika Administrative Troika comprises the President of Pakistan, The Prime Minister rand Chief of Army Staff. It plays very important role in formulating foreign policyIt can approve or disapprove the foreign policy of Pakistan President Or can make any change in it. However, it is very difficult to deviate from the previous foreign commitments made by Troika. Chief of prime Army staff minister Ministry  of  Foreign  Affairs The ministry can play very important role in formulating the foreign policy. It comprises the specialists and experts of foreign policy and the bureaucrats of high lev el. They prepare foreign policy, keeping in view the basic objectives and principles of the policy.They formulate the policy, plans and programs regarding the priorities of foreign policy, and fully cooperate with Troika for its preparation. In accordance with new constitutional amendment, the Troika has been replaced by the National Security  Council. Intelligence  Agencies Pakistan’s intelligence agencies also play very effective role in the formulation of foreign policy by providing full information about the objectives of other countries foreign policies. Keeping in view these in formations, Pakistan  formulates its foreign policy. Political  Parties  and  Pressure  Groups Related essay: â€Å"Disadvantages of Foreign Workers in Malaysia†The political parties and pressure groups have deep impacts on the formulation of foreign policy. The political parties include the priorities of foreign policy in their manifestoes, and after their success in the election, they force the government to change the priorities of foreign  policy according to the changing scenario in the light of their view points. Likewise the pressure groups can also influence the foreign policy. Parliament The Ministry of Foreign Affairs usually prepares the foreign policy according to the directions of executive and puts it  before the Parliament for approval.After discussion and debate the parliament gives approval to it or suggests some FOREIGN POLICY AND ROLE OF MEDIA: Recent events in world have intensified speculations about the role of traditional mass media as well as communication technologies in shaping political events and cultures across the world†¦ Media do not necessarily influence policymakers directly, but may work through public opinion by shaping what people know and believe about foreign politics. Public opinion, embodied in predominant political views or in election results, can have considerable influence on policymakers that need approval from the electorate.Influence of media on foreign policy Accelerant to positive action * Political decision-making process in the light of a new or ongoing issue * Speeds the parliamentary process and deployment process of an already mandated issue Impediment to positive action * Where coverage of an incident will degrade public will and support for an ongoing operation or diplomatic initiative * Slows the parliamentary process and deployment process of an already mandated issue * As a threat to operational and national security Agenda Setting Agency Raises an unknown issue to a position where it produces political pressure for action According to the researchers: Mody represents a strongly n ormative perspective, arguing that an informed citizenry is necessary, although not sufficient, for preventing conflict and humanitarian crises. In her argument, media influence foreign policy by putting issues on the public agenda and by framing them in a way that catches the attention – and sympathy – of a large audience, which then demands action from their elected representatives.Philip Seib from the University of Southern California discusses â€Å"new† media, in particular satellite television and the Internet. Seib posits that the media are indeed able to change the status quo of foreign policy by shaping international and domestic public opinion. Seib’s main idea is the â€Å"virtual state:† disperse communities achieve an unprecedented cohesion that puts them on the political map internationally. Satellite media and the Internet foster â€Å"virtual sovereignty† by cultivating a shared identity among disperse members of ethnic or re ligious communities.This is relevant for foreign policy because virtual states can affect the stability of traditional states and regions. Media can also alleviate tensions and conflict by providing new perspectives to an unprecedentedly large audience. Seib recommends that, if policymakers want to take advantage of the media’s power to create communities, cooperation is a better approach than competition, and international media, such as Voice of America and Deutsche Welle, become relevant tools of foreign politics.PAKISTAN FOREIGN POLICY: Pakistan  is the second largest  Muslim  country in terms of percentage of population (after  Indonesia), and its status as a  declared nuclear power, being the only Islamic nation to have that status, plays a part in its international role. Pakistan has a fierce independent foreign policy, especially when it comes to issues such as development of nuclear weapons, construction of nuclear reactors, foreign military purchases and o ther issues that are vital to its national interests.Pakistan has a strategic geo-political location at the corridor of world major maritime oil supply lines, and has close proximity to the resource and oil rich central Asian countries. Pakistan is an important member of the  Organization of Islamic Cooperation  (OIC), a  major non-NATO ally  of the war against terrorism, and has a highly disciplined military, which is the world's  eighth-largest  standing military force. Basic Goals of Pakistan's Foreign Policy * Maintenance of territorial integrity. Maintenance of its political independence. * Acceleration of social and economic development. * Strengthening its place on the globe. * Keeping cordial and friendly relations with all countries. ROLE OF MEDIA IN PAKISTAN FOREIGN POLICY Pakistan has developed a vibrant and free-wheeling media in the last decade . Yet Pakistani journalists continue to face pressure both from the authorities and militant groups when reporting on terrorism and its impact on the country and this effect its foreign policy.Senior Journalist, Zahid Husain spoke on ‘Pakistani media and its impact on foreign policy. ’ He was of the view that Pakistani media is much more candid, opaque and vocal regarding foreign policy. One of the major problems of print media, he said, is its division in English and Urdu. English newspapers cover issues related to foreign and security policy while there are hardly any such issues available in Urdu newspapers. This dichotomy is an underlying reason of our conflicts over various issues and inability to reach consensus.What should be the role of Pakistani media * Play role from watch dog to defender * Awake the people in a right way * Provide authentic and sincere information to people * Impartially shape public opinion CONCLUSION: So all of this proves that Pakistan media is just playing the role of watch dog in the formation of Pakistan’s foreign policy. it needs to much mor e mature. in order to make a perfect policy Pakistan media have to play its real role of awaking the people. Above discussion posit that the media shape foreign policy by shaping public opinion.

Erp System Implication

Analyzing Enterprise Resource Planning system implementation success factors in the Engineering-Procurement Construction & Commissioning Industry Introduction Back Ground Enterprise Systems (ES), also called Enterprise Resource Planning (ERP) systems, are among the most important business information technologies to emerge in the last decade. While no two industries Enterprise Systems are the same, the basic concept of Enterprise Systems is focused mainly on standardization, synchronization and improved efficiency. ERP is basically the successor to material resource planning (MRP) and integrated accounting systems such as payroll, general ledger, and billing. The benefits of Enterprise Systems are very significant: coordinating processes and information, reducing carrying costs, decreasing cycle time and improving responsiveness to customer needs [ (Davenport, 2000) ]. MRP is limited to controlling the flow of components and materials, and does not lend itself to more complete production control and coordination. The next generation of manufacturing software, known as MRP II, was developed to address this shortcoming and to further integrate business activities into a common framework. MRP II divides the production control problem into a hierarchy based on time scale and product aggregation. It coordinates the manufacturing process, allowing a variety of tasks such as capacity planning, demand management, production scheduling and distribution to be linked together. [ (Mendelson, 2000) ] Conventionally, the EPC firms have been faced with the predicament of handling the mega projects. The issue always is to keep these multimillion dollar projects on schedule, under budget, and safe with the quality specified by the end user. Although the EPC firms are one of the leading contributors to the development of region, yet it faces the challenges of most highly fragmented, inefficient, and geographically dispersed industries in the world. In recent times the emergence of ERP Software has helped such firms to overcome the issues. EPC Companies in the present world are expanding day by day, moving across the globe to open new avenues of business and expand. These companies also seek diversification in their business and continuously changing and adopting technology to keep pace and maintain their competitive advantage in their prior and newly adopted business sectors. Managing these huge companies need special support of Information Technology to keep a track of activities and handle them accordingly. Companies like BHP Billiton, Nestle etc. have implemented ERP systems around the globe wherever they operate. In our part of the world i. e. Pakistan companies such as Packages, FFC, Raftan Maize and Descon etc. have all implemented ERP systems to handle their business in a more efficient manner with their growth locally and globally. ERP is a software architecture that facilitates the flow of information among the different functions within an enterprise. Similarly, ERP facilitates information sharing across organizational units and geographical locations. It enables decision-makers to have an enterprise-wide view of the information they need in a timely, reliable and consistent fashion. ERP provides the backbone for an enterprise-wide information system. At the core of this enterprise software is a central database which draws data from and feeds data into modular applications that operate on a common computing platform, thus standardizing business processes and data definitions into a unified environment. With an ERP system, data needs to be entered only once. The system provides consistency and visibility-or- transparency across the entire enterprise. A primary benefit of ERP is easier access to reliable, integrated information. A related benefit is the elimination of redundant data and the rationalization of processes, which result in substantial cost savings. [ (Mendelson, 2000) ]. Problem Statement Unfortunately for Nestle USA, they did not heed the failures of others. Throughout the implementation, Nestle USA made several large mistakes that almost doomed the project. When the project began a team of 50 top executives and 10 senior IT professionals was assembled to develop a set of best practices for all Nestle USA divisions. The goal was to develop these best practices for all functions of the organization. By the time the implementation began in 1999 Nestle already had problems with its employees’ acceptance of the system. Most of the resistance met by the project team was traced back to the fact that â€Å"none of the groups that were going to be directly affected by the new processes and systems were represented on the key stakeholder’s team†. This was only the start of Nestle USA’s problems. By early 2000, the implementation had turned into a disaster. Employees did not understand how to use the new system and did not understand the new work processes they were being forced to adopt. Divisional executives were just as confused as their employees as they had been left out of the planning and development of the new system and were less than willing to assist in straightening out the mess that had developed. The result of this was that morale plummeted and turnover skyrocketed [ (Dieringer, 2004) ]. Nestle learned the hard way that an enterprise-wide rollout involves much more than simply installing software. When you move to SAP, you are changing the way people work,† Dunn says. â€Å"You are challenging their principles, their beliefs and the way they have done things for many, many years. † [ (Worthen, 2002) ] While it’s true that successful implementation of an enterprise resource planning system is a task of Herculean proportions, it’s not impossible. If your organization is to reap the benefits of ERP, it must first develop a plan for success. But prepare to see your organization reengineered, your staff disrupted, and your productivity drop before the payoff is realized. In a recent survey, information technology managers identified three primary reasons for the failure of all IT-related projects: poor planning or poor management (cited by 77 percent), change in business goals during the project (75 percent), and lack of business management support (73 percent). Since ERP is an IT-related project, the above are valid reasons for explaining ERP implementation failures. For managers who have struggled with incompatible information systems and sub-optimum operating practices, the promise of ERP to solve the problem of business integration is enticing. But the price of securing the benefits of ERP may be high. The cost of a modest ERP implementation can range from $2 million to $4 million, depending on the size of the organization and the specific products and services purchased from vendors. The cost of a full-blown implementation in a large organization can easily exceed $ 100 million. [ (Umble, 2002) ] Research Objectives The objective of this research is to identify factors that influence ERP implementation, providing factors associated with the success of ERP systems in EPC firms. The research brings to limelight the factors associated with the success or failure of ERP implementation, and scrutinize these factors according to the level of significance in affecting the success of ERP systems. The primary research objectives: 1) Identify the factors responsible for the success or failure of ERP implementation? a. Identify factors that can motivate users to adopt the ERP System and make the project successful. b. Also to discuss relationship between these factors. ) What marks the success of an ERP implementation and how to avoid the failure of implementation? Literature Review EPC Companies such as Descon, Hyundai, Bechtel, Petronas and Foster Wheeler etc. face frequent challenges of managing project schedules, budgets, safety, and quality to meet requirements provided by the end user / customers across the globe. The proper utilization of internal and external resources is essential if construction companies are to make the best business decisions, maximize bu siness goals, and survive in the competitive environment (Shi, 2003). Recently, an appreciable number of major EPC companies decided to implement enterprise resource planning (ERP) systems, an integrated information technology IT solution, to better integrate various business functions and resources, particularly those related to project accounting procedures and practices (Boo Young Chung, 2008). Enterprise resource planning systems, also called enterprise systems ES are among the most important business information technologies that emerged during the last decade. While no two industries’ ERP systems are the same, the basic concept of ERP systems is focused on standardization and synchronization of information, and as a result, improved efficiency. The benefits of ERP systems include coordinating processes and information, reducing carrying costs, decreasing cycle time, and improving responsiveness to customer needs (Davenport, 2000). Major EPC firms are starting to recognize the benefit of ERP systems, however, they are often hesitant to invest and adopt these systems due to high cost and risks associated with ERP system implementation. Many factors must be considered for successful implementation, but construction firms have little to guide them in identifying key success factors (Boo Young Chung, 2008). The ERP Systems are not limited to just financial and accounting, they have the whole system embedded in them. The ERP modules such as SAP comprise of modules for Supply Chain Management, Human Capital Management, Material Management, Finance etc. The main modules of an ERP System are as follows 1. Finance & Controlling (FI & CO) 2. Quality Management (QM) 3. Material Management (MM) 4. Human Capital Management (HCM) . Project Systems (PS) 6. Production Planning (PP) 7. Sales & Distribution (SD) 8. Treasury (TR) 9. Plant Maintenance (PM) 10. Customer Relationship Management (CRM) Currently, many construction firms have implemented their ERP systems adopting a best-of-breed approach in which separate software packages were selected for each process or function rather than using full packages of major ERP vendors (Ta tari, 2007). EPC Companies selected different modules like material management, quality management from major ERP vendors and clubbed together with their customized software. The customization of these ERP Systems have been a major issue as all companies try to mend these modules in to their own processes which makes the implementation very difficult. For this reason, regardless of the agreed upon implementation approach, any integrated corporate system in which all the necessary business functions are pieced together for the company is considered the ERP system in this study. The main reason of using this approach is that construction processes are less standardized than manufacturing: each project has a different owner, is managed by a different project team, requires different specifications, etc. Therefore, success or failure factors and their significance for ERP implementation in the construction industry may be different from those in the manufacturing industry. (Boo Young Chung, 2008). We can classify ERPs benefits as: (1) improvement of information flow between sub-units by standardization and integration of activities, (2) centralization of administrative activities such as accounts payable and payroll, (3) reduction of IS aintenance costs and increased ability to deploy new IS functionality, (4) transformation enablement from inefficient business processes to accepted best-of-practice processes (Ayyub Ansarinejad1, 2011) Variables in the ERP Model The main variables in ERP Success model are * Output * Job relevance * Image * Result demonstrability * Compatibility * System Reliability * Internal Support * Function * Consultant Support * Subjective Norm * Perceived Usefulness * Perceived ease of use * Intention to use * ERP Benefits * Project Success / progress * Project success / quality Bibliography Ayyub Ansarinejad1, M. -S. A. (2011). Evaluating the critical success factors in ERP Implementation using Fuzzy AHP approach. Internation Journal of Academic Reserach , 65-80. Boo Young Chung, M. J. (2008). Anaylzing Enterprise Resource Planning System Implementation Factors in the Engineering-Construction Industry. Journal of Computing in Civil Engineering , 373-382. Davenport, T. (2000). Mission Critical : Realizing the promise of Enterprise Systems. Harvard Business School Press Boston . Dieringer, D. S. (2004). ERP Implementation at Nestle. Mendelson, H. (2000). ERP Overview. Graduate School of Business, Stanford University, Stanford, CA . Shi, J. J. (2003). Enterprise Resource Planning for Construction Business Management. Journal for Construction Engineering and Management , 214-221. Tatari, O. C. -L. (2007). Current state of construction enterprise information system: Survey Research. Construction Innovation , 310-310. Umble, E. J. (2002). Avoiding ERP Implementation Failure. Industrial Management, Industrial Management Society , 25-33. Worthen, B. (2002, May 15th). Nestle's ERP Odyssey.

Arbotech Case Essay Example

Arbotech Case Essay Example Arbotech Case Essay Arbotech Case Essay This understates inventories. 3. Manipulation of physical counts of inventory: This overstates income tax expense and net income, inventories, retained earnings and income tax payable. This understates cost of goods sold. It was a ploy to overstate inventory to reduce cost of goods sold and inflate net income. 4. Failure to write down inventories adequately for product obsolescence: This overstates income tax expense and net income, inventories, retained earnings and income tax payable. This understates cost of goods sold. 5. Inclusion of certain costs in property, plant and equipment that the firm should have expense in the period incurred: This overstates fixed assets, income tax payable, retained earnings, operating expenses. This understates income tax expense. 6. Inclusion in advances to other technology companies of amounts that represented prepaid license fees: This overstates income net income, assets and retained earnings. This understates expenses on the income sheet. . Failure to provide adequately for unconvertible amounts related to advances to other technology companies: This overstates assets, retained earnings, income tax expense and net income. 8. Failure to write down or write off investments in other technology companies: This overstates assets, retained earnings, income tax expense and net income. D. Using information in the restated financial statements in ex 6. 31-6. 33, the financial ratios in ex 6. 4 and the information provided in this case, as a commercial banker, would you be willing to offer Arboretum a line of credit as of 7/31 year 7? If so provide the conditions that would induce you to offer such a credit. The conditions to offer such a credit depends on whether the company has recognized and dealt with its accounting regularities and can Arboretum continue to maintain product growth with its customer base. The negative cash flow is not uncommon with rapidly growing companies that must invest n accounts receivables and inventories. We know that all of the companies assets and capital are already used as collaterals. In order to provide credit, the company must allow the bank to audit the financial records of the company on a consistent basis to maintain ethical standards of reporting.

This assignment will consist of a critical and evaluative intellectual Essay

This assignment will consist of a critical and evaluative intellectual biography of a contemporary leading thinker - Essay Example Norton is a consultant as well as a speaker withregard to strategic performance management and a founder of Palladium group. The profession group mainly deals with performance measurement and management and before founding andbecoming the group’s director he engaged in Renaissance Solutions a consulting company he founded together with Robert Kaplan in 1992. The balanced scorecard aims at helping the development and management of strategy through focusing on the way key measures relate in tracking progress. In the paper Kaplan and Norton believe only adherence to quarterly financial returns and bottom line does not offer an organization the overall strategic view. However, the balanced scorecard goes beyond only the exploitation of financial measures through incorporation of three other essential perspectives. These other perspectives include customer perspective, internal business perspective and the learning or innovation perspective. Customer perspective addresses the way customers consider an organization while internal business perspective requires an organization to establish what is needed for it to excel; moreover, the innovation perspective addresses what is needed in an organization to improve and create value in future. Through evaluation of the present and offering indications of future drivers, the scorecard is capable of m easuring and motivating business performance (Kaplan& Norton, 1992). Kaplan and Norton published Strategy Maps, in this book they show that despite the increased significance of knowledge based assets, many organizations still focused on measuring short term financial performance. The book elaborates strategy as a notion by describing it in terms of its relationship referred to as strategy map. The book shows shifting trend from product-driven economy toward a knowledge economy values intangible assets in organizational performance. However, at the time of writing the book there was no literature offering

Music Essay Example | Topics and Well Written Essays - 250 words - 11

Music - Essay Example The dynamics of this section are very quiet, often referred to as pianissimo. Keyboard instruments and lack of singer’s voice identify the section’s timbre. The sections pitch is low. The second section begins after one minute and fifty seconds and ends three minutes into the song. The dynamics in this section are moderately quiet, referred as mezzo piano. The timbre in this section is different since the singer’s voice and string instruments are introduced. The pitch is moderately low (Sigman and Bonfà ¡, 2009).  . The third section starts after the third minute and ends after four minutes and twenty seconds. The dynamics of this section are moderately quiet – mezzo piano. String instruments are maintained which maintains unity with the previous section. However, there is no singer’s voice. The last section’s dynamics are moderately loud, known as mezzo forte. The singer’s voice and keyboard instruments characterize timbre in this section. The pitch is moderately high. This piece is designed for an ensemble. This is because it contains four different section, each with a different idea. It also comprises of different instruments and vocals. The closest musical style to this piece is acoustic or folk-rock (Sigman and Bonfà ¡, 2009).  . This is because the dynamics range from very quiet to moderately loud. The instruments used are keyboarding instruments and string instruments, which are also, used in acoustic music styles. This piece could be for education

MENTAL HEALTH Research Paper Example | Topics and Well Written Essays - 1500 words

MENTAL HEALTH - Research Paper Example However, the elder patients are believed to view and imagine nursing staff as their own daughters. In developed nations relationships among children and parents have significantly deteriorated and therefore, elders are becoming lonely and depressed (Werner, 1993). Nevertheless, all patients from different age groups are famous for practically loving their medical staff. But, in case of children, the job of nurses gets tough and challenging because psychologically, one has to become a child in order to play with a junior and because of this reason, it is recommended in multiple studies that nurses with a special kind of personality should be assigned to the children ward. Most of the nurses are notorious for having rude and rough behaviors because they are living under such level of emotional and psychological stress that they become unstable to say the least. But, again when it comes to treating children nurses are supposed to transform healing into a game so that the childrenâ€℠¢s fear can be circumvented (Swanson & Wojnar, 2004). The hospitals are providing a colorful environment for children where there are paintings of famous cartoon characters on the walls and the patients have the facility to play and engage in positive activities such as playing music and listening and watching television. The children are fighters because their bodies have been known to perform at peak proficiencies and therefore, they are not mentally aware and neither they are willing to accept their illnesses (Altimier, 2004). Both of the previously mentioned factors have the power to expedite healing process. The challenge lies in providing a proper reinforcing environment where the belief of a child can become a reality (Pesek, Helton, & Nair, 2006). Still, the nurses must be informed that elders and children heal in two very different ways. The former ones heal with the help of a listener while the latter group wants a companion, a friend, and a player. The nurses then, must a llow the elders to share their experiences and should also provide a silent ear. The hospitals of the 21st century are transforming into community centers because they are taking up the roles of facilities that are helping in bridging the gaps between elders and children (Langsley & Barter, 1983). Quite a significant number of facilities are providing elders with an opportunity to share their life’s experiences with the next generation. The needs of both groups are fulfilled in this fashion because the elders have a profound need to share their knowledge whereas the children’s need to listen bedtime stories from their grandparents is satisfied as well (Doty, 1986). The nursing profession was developed and flourished as a means of assisting the physicians in the terms of devising an effective and efficient way of treating the illness (Bakken, Cashen, Mendonca, O'Brien, & Zieniewicz, 2000). But, according to the literature of modern healthcare, most of the physical disea ses are just manifestation of psychological problems and diseases and therefore, it is highly recommended to cure both dimensions of the illnesses simultaneously (Weatherhead, 1951). Furthermore, the children are by-default positive thinkers but transform into a hopeless individual due to the environment and because of this reason, the hospitals are repeatedly suggested to create and foster

Informative Synthesis Essay Example | Topics and Well Written Essays - 1500 words

Informative Synthesis - Essay Example However, the anticipated environmental concerns and possible health and life threatening effects are consistently increasing the international organizations’ condemnation on the eminent nuclear energy in Iran. Indeed, the nuclear reactors tragedy in Fukushima Japan brought severe and lifetime effects that proved to be dangerous and inevitable (Greenpeace 1). However, the significance of this critical subject hails from the fact that the host nation is a minority nation with more economical interests than human or global security concerns. Iran is indeed not in any way ready to compromise its quest in this project. Actually, the urge to make their dream for a nuclear source of energy has only grown more real. Additionally, Iran has been concealing a ploy to develop uranium enrichment in its territories. Indeed, Iran produced 215 billion kWh gross in 2008 generating a per capita consumption of about 2000 kWh/yr. Out of these production, 80% of its electricity was from gas and 16 .5% from oil. In fact, the nuclear energy reactor started up in Iran on 8 May 2011 through September 2011 after many years of construction and many consistent efforts against ever increasing international opposition. With 75 % production capacity realized in March, the prospects of the project oversee the project entering commercial operation about April 2012 (World Nuclear Association 1). Subject to these developments, the international organizations like the UN Security council and international governments like the US institute sanctions, trade barriers, and diplomatic withdrawals against Iran with a hope of convincing or even coercing Iran to compromise on its pursuit for Nuclear energy (UN Security council 1-12). However, despite the stringent terms, Iran has not shown any signs of giving in to international pressure where they prioritize their economic interests on nuclear energy before international interests. This puts to question the mode of decision-making that Iranian lea dership adopts on matters of global concern like the nuclear energy. The significance of international pressure on nuclear energy in Iran is a relevant issue on the University of Alabama student. I addressing this topic, I will focus on opinion articles, "Only Crippling Sanctions Will Stop Iran" of March 2, 2012 by Emanuele Ottolenghi and "Starving Iran Won't Free It† March 2, 2012  by Hooman Majd. The article, "Only Crippling Sanctions Will Stop Iran" of March 2, 2012 by Emanuele Ottolenghi is however more effective in that it draws the history of important Iranian decisions, how Iranians value sanctions, what drives the Iranians to change and the respect accorded to the Iranian government by the Iranians. This will help in analyzing the effect of the international sanctions against nuclear energy in Iran. Emanuele holds the opinion that the western allies assume that Iran’s leaders are rational actors, and rely on cost-benefit analyses to reach important decision (O ttolenghi 1). Hence, they assume that their continued gradual increase in the costs of Iran’s nuclear pursuit will lead to Tehran concession in the current nuclear standoff between the western decision makers and the Iranian decision makers. They expect the Iranian decision makers to behave rationally agree to a compromise and ignore Iran’s perspective on costs already incurred, the price of completing the journey and the advantages of turning back subject to the continued international pressure (Ottolenghi 1). The Iranian decision makers do not necessarily behave as assumed by the Western decision makers. History shows that the Iran’s decision makers are impervious to cost-benefit analysis and have never been isolationists. Hooman recognizes the fact that coercion, sanctions or exiles and their enablers

Global Macroeconomic Imbalances And The Financial Crisis

Global Macroeconomic Imbalances And The Financial Crisis The world experienced the global financial crisis between 2007 and 2008. This crisis led to the threat of collapse of mane large financial institutions, down turns of major financial market in the world and bailouts of banks by difference governments in the world. One of the areas that suffered most from the effects of the global financial crisis was the real estate sector, which most argue that it must have also contributed to the crisis. This crisis also played a significant role in the failure of many key businesses around the world. One of the consequences of these business failures was the rise of high rate of unemployment around the globe. It also contributed to the decline in consumers wealth and the down turn in economic activities around the globe, which eventually led to the global recession between 2008 and 2012. Other negative effects of the global financial crisis include the rise of the European sovereign debt crisis and liquidity challenges experienced from 2007 (Obstf eld and Rogoff 2009). Many reasons have been suggested as the main contributors to the global financial crisis. Some of these reasons include the existence of easy credit conditions in the global financial markets, growth of the housing bubble in the United States of America, predatory lending, over leverage, and incorrect pricing of risks among others (Ferguson and Schularick 2009). Although many controversies remain about the role of the global imbalances on global financial crisis, it is clear that there exists a connection between the two. Those who are against the idea of the role that global imbalances played towards global financial meltdown argue that external pressure could not have played any role in the crisis. The reason they give as the main cause of the financial crisis was the failure of financial regulators to effectively control financial institutions and markets in the United States of America and globally. They also argue that policy errors could also have played a significant role in t he crisis. However, those who support the view that global financial imbalances could have played a role in the global financial crisis suggest various mechanisms through which global imbalances could have had a significant role in causing the collapse of the financial system in the world. Some of these mechanisms include the high savings of china, oil exporters and other surplus countries, which depressed real interest rates globally. The depressed global real interest rate is thought to have led investors to scramble for yield and to under price the risk. The connection between the global imbalance and the global financial crisis may also have originated from economic policies employed in a number of countries globally before the crisis. There was also the existence of distortions that played a role in the transmission of these economic policies through the United States of America and finally through the global financial markets (Ferguson and Schularick 2009). United state of America policies contributed immensely to the crisis. This country had the ability to finance her macroeconomic imbalances from easy foreign borrowing. As a result of this, the country failed to come up with tough policy measures that could have prevented the crisis. This was also the same case with other major countries that experienced deficit before the crisis. One of the alternatives source sought by the United States of America to finance her deficit was foreign banks, which provided a ready source of external funding. The main source of motivation for these foreign banks was their high appetite for assets. Prior to this period, the United States of America employed loose monetary policies, which allowed the country to borrow in dollars at low nominal interest rates. These policies also created an environment in which the asset-price movement and the exchange rate kept United States of America foreign liabilities growing at a rate that was far below its cumulative current account deficit. The case of the United States of America was similar to what was experienced in many other countries around the globe, which had current account deficit prior to the global financial crisis (Ferguson and Schularick 2009). Countries with current account surpluses on the other hand, faced minimal pressures to adjust. For instance, China was able to maintain an undervalued currency and therefore, defer to rebalance its own economy due to its ability to sterilize the immense reserve purchases,which it placed in the United States of Americas markets. Therefore, complementary policy distortions kept United States of America artificially far from her higher autarky interest rates and China artificially far from her lower autarky interest rates. It was possible therefore, to either contain or mitigate the global financial crises had low-cost postponement options not been available. The action of china to undervalue her currency may have also played a significant role in the global financial crisis that followed in between 2007 and 2008. This together with the undervaluation of the exchange rate contributed to the global imbalances (Obstfeld and Rogoff 2009). Therefore, it is clear that external imbalance were a reflection of internal imbalances in many countries. The connection between the global imbalances and the exchange rate undervaluation means that the problem could not be resolved automatically without involvement of significant exchange rate adjustments. The labor rate in china prior to the global financial crisis was far below the countrys Gross Domestic Product (GDP). Cheap relative production costs in China supported the profitability and investment in manufacturing industry. The loss of competitiveness in this country was avoided through the availability of excess labor or organized wage restraint (Ferguson and Schularick 2009). China employed policies that were aimed at promoting export-led industrialization. The policy of real exchange rate undervaluation and reserve accumulation in China could not automatically be collected by inflation due to the pervasive role of the state in the countrys financial sector, large supply o f surplus labor and the effectiveness of capital control. All this created an environment that enabled china to accumulate massive reserves of foreign currency as well as create current account surplus. This action of the Chinese country may have contributed to the global financial crisis experienced in 2008. According to Ben Bernanke, the Chairman of the Federal Reserve, a saving glut in the Asian economy as well as other exporting countries is primarily responsible for the current pattern of global macroeconomic imbalances. In providing support for his argument, Ben argues that the Asian turbulence of 1996 formed the genesis of the global imbalance. He points at Thailand which had for a long time maintained a fixed exchange rate of her currency against the United States of Americas dollar. However, there was a rapid credit expansion in the Asian countries, which fuelled bubble in stocks and real estates (Obstfeld and Rogoff 2009). This credit expansion took place within the liberalized financial system. In Thailand, the current account deficit reached about 8 percent of the countrys GDP as the rising prices of assets reversed the course. The country also experienced a fierce speculation of currency which led to the breaking up of the countrys currency peg against the dollar. This crisis was contagiously transmitted to other countries in Asia, many of which seemed healthier fundamentally than Thailand. Under this pressure, the Asian banking system faced financial crisis. To avoid eventual collapse of the banking system, most of those countries that faced the crisis turned to the international monetary fund for assistance. The conditions placed by the international monetary fund as the requirement for financial assistance left bitter memories in these countries (Ferguson and Schularick 2009). Afterwards, the developing countries as well as the newly developed countries in the Asian world went into surplus although most of them had weaker currencies than before the crisis. The dissipation of the recessionary effects in the Asian countries and the boom of dot com led to the rise of commodity prices globally. This further helped to generate surpluses for the oil producing countries in the Middle East and the commonwealth of independent countries. The case was different in the advanced countries which operated on the current account deficit. For instance, the United States of America ran on a deficit of about 4.3 percent in 2000. There was persistent growth of surpluses in the Asian countries and the oil producing countries. However, in this newly industrialized Asia, the gross savings did not change substantially after the crisis although there was a considerable decline in the investment. In contrast, the savings in the developing Asian countries initially returned to the same level as before the crisis. This was followed by rapid growth in savings which peaked at about 47 percent of the GDP (Obstfeld and Rogoff 2009). The case was the same as far as gr oss investment was concerned. The investment returned to the pre-crisis level and then rose significantly thereafter. These current account surpluses were supported by the exchange rate policies, which tended to maintain rates at competitive levels different from what was the case in the pre-crisis period. Foreign exchange intervention policy in Asian countries was motivated by the need to pursue export-led strategies for maintenance of high economic growth rates. There was also the need to accumulate substantial stock of international reserves as a buffer against future financial crises. This was considered to be necessary in order to avoid a possible future dependence on International Monetary Fund. Therefore, some countries such as Saudi Arabia maintained pegs to the United States of Americas dollar. This further helped in the growth of the global imbalance that finally was responsible for the global financial crisis in 2008 (Ferguson and Schularick 2009). Further, these countries devalued their currencies against the United State of Americas dollar. Therefore, these countries remained at depreciated levels compare to the period prior to the crisis. The intervention policies by the Asian countries were responsible for the rapid growth of international reserves in these countries (Obstfeld and Rogoff 2009). Another factor that may have contributed to the global imbalance and eventually the global financial crisis was the speculation against the overvaluation of the dollar during the closing years of Bretton Wood System. This speculation led to the growth in international reserves and the high global inflation that followed thereafter. The reserve growth in the United States of America also led to the increase in the prices of commodities, housing and other assets in the country and other countries. The Chinese reserve accumulation outstripped even the growing current account surplus. The balance of payment surpluses was further augmented by the strong inward of Foreign Direct Investment (FDI). Therefore, economic policies and market developments played a significant role in the generation of current account surpluses (Ferguson and Schularick 2009). This in turn led to rapid accumulation of private and public claims on industrial countries especially the United States of America. According to Bernanke, the outward shift of emerging market saving schedules was the principle cause of expansion of the United States of Americas deficit starting in the 1990s. This global saving glut led to the worldwide asset price adjustments, which induced a number of advanced economies such as the United States of America to borrow m ore heavily from foreign sources. Other economic factors that contributed to the global financial crisis include equity prices. United States of America experienced heavy capital inflow from emerging market savers. This led to a large appreciation of the stock prices and the value of the dollar. This implied wealth and international competitiveness effects and a large deficit in the United States of Americas current account. Saving in the United States of America was further discouraged by the expectations of the rapid future productivity growth. These expectations encouraged investment. Another factor behind the global financial crisis was the falling real interest rates in the United States of America and other advanced economies (Ferguson and Schularick 2009). This low rate of interest contributed to the decline in savings. There was also the fall of long-term interest rates which brought down the mortgage rates in the United States of America and other countries in the world. Allan Taylor in his article The Financial Rebalancing Act argues that even without any government intervention, these global imbalances are likely to stop increasing at the same pace and may even decease. He further argues that the economists and the policy makers risk fighting the last battle even as a new post crisis economy emerges with its own set of challenges. According to him, this will happen as a result of emphasizing the importance of these imbalances. For the long-term solution to the imbalances, the view of Taylor is correct. Imbalances will create counterparts conditions in different countries which will eventually bring this countries current accounts into equilibrium(Taylor 2011). For instance, one factor that has led to the global imbalance is the devaluation of currencies by some countries. This policy has enabled countries that follow such policies to create current account surpluses. It has also contributed to huge capital investment in countries with current account deficit. In the long term, the interest rate in the deficit countries will cease to be attractive and therefore, discourage further foreign investment. The low demand for dollar as a result of this will lead to the depreciation of the dollar relative to the currencies used by the surplus countries(Taylor 2011). This will lead to the reduction in the level of surplus and the deficit in respective countries. Some of the policies that countries can employ to correct global deficit include reorientation and coordination of fiscal policies, addressing financial markets instabilities, alignment of macroeconomic and structural policies for sustainable development and dealing with job crises through g lobal rebalancing. The EURO Crisis Economic crisis has on numerous occasions hit the world and the factors that have contributed to the crisis either directly or indirectly. It is worth noting that financial crisis is as a result of a combination of complex factors which include internal trade imbalances, high risk lending as well as borrowing among others. However, one of the financial crisis that shocked the EUROZONE and has had profound impact is the EUROZONE crisis; various scholars as such have come forth with different schools of thoughts concerning the crisis. One such scholar is Martin Feldstein argues that the current crisis of the European single currency was an accident waiting to happen. To him he argued that the development of such economic structure was a ruthless, politically motivated experiment. Similarly the present problems facing member countries as a result of leaving country-specific economic policies and individual exchange rates were predictable by economists politicians chose to ignore them (Feldstein, 2010). The paper will give the views of the researcher whether he agrees or not with Martin Feldstein argument. In doing so, the researcher will critically look into arguments for and against adopting a single currency economy. Additionally the major factors deemed to be responsible for the crisis of confidence in the EURZONE. Martin Feldstein argument and my views With regards to EUROZONE crisis Martin Feldstein strongly believed that indeed the adoption of a single currency was an accident waiting to happen. The unpleasant cost of adopting a single currency on a incongruent group of countries were at first concealed by the short-run advantages that the weakest countries enjoyed when they adopted the euro in 1999 and by the favorable global economic conditions that prevailed until 2008 (Feldstein, 2010). In order to support or refute the claim, it is important to first examine the pros and cons of adopting a single currency economic structure. However it is important to understand the beginning of the crisis. The crisis in the zone started immediately the financial markets lost confidence in the creditworthiness of Greece and other periphery countries; this resulted in interest rates on government bonds going higher to levels that compelled the affected governments to ask for bailouts from international community, the European Community and th e IMF. EUROZONE adopted single currency back in 1999 with the aim of empowering the member countries economically as well as politically. This is after the region tracked greater financial integration since 1957. There are two main categories of the advantages that come with the adoption of a single currency in the EUROZONE both leading to gains in economic efficiency. One important importance of such a concept is that the transaction cost will be eliminated. Usually transaction costs are manifested in several ways for instance fixed commission as well as the spread between the buying and selling prices of any given currencies. It is worth noting that for the member countries which operate business with others in the same region, then the currency conversion cost is done away with for the member countries which are vital for both individuals as well as firms doing business with foreign partners (Rose Wincoop, 2001). On the same note a single currency ensures that there is a ground to compare prices, making price differences more noticeable as well as equalization across the borders. Scholars in the field of economy have held that the absence of transaction costs as well as transparency in prices creates a deep and more integrated financial market. This type of integration makes it possible for member countries to have various channels used to share risks. For instance when a member country is hit by negative shock, firms definitely make losses which result in lowered stock prices, on the other hand when there is an economic boom in a another country, the stocks of firms in that country will go up contributing to profit making investors from the country hit by negative shock a new lease of life. Thus single currency allows country to share the risks of negative shocks. It has been argued that the justification for adopting single currency in EUROZONE is to avert the negative effects of exchanges rates. There is no doubt that uncertainty in changes in exchange rates hinders the flow of trade as well as investments. Thus in situations where business people are faced with trade opportunities or investment, they will be more attracted to countries where the risks of currency and interest rate changes are minimal(Artis, Hennessy Weber, 2000). However Feldstein, 2010 argued that a common currency means that every EUROZONE country has the same exchange rate, stopping the natural rate of adjustments that maintain national competitiveness when there are different trends in productivity and demand. As such he posits that this denies some countries the opportunity to raise the real incomes of her employees. In fact this is what EUROZONE is trying to discourage a scenario where some countries are extremely richer than others. Despite the advantages mentioned above, single currency has a number of disadvantages. First the system brings costs to firms, individuals and other institutions to adjust to the new currency. Usually these parties have to incur huge costs in changing the invoices, price lists, office forms, payrolls, databases, bank accounts, and meters for postage as well as parking among other things (Rose Wincoop, 2001). For countries which had weaker financially, they have to engage in excessive borrowing in order to carter for these expenditures. This as explained by economists is a recipe for economic crisis (Artis, Hennessy Weber, 2000). Secondly single currency economy means that there is no national monetary policy which has been a vital tool for states to adjust the economic equilibrium in situations where it faces economic shock. Usually economic shocks are unpredictable and unexpected and it characterized with disparity in production, consumption, investment as well as government expenditure (Feldstein, 2010). Factors responsible for the current crisis of confidence in the EURO zone There are a number of factors that played substantial role leading to the present crisis of confidence in the EUROZONE. Top on the list the inability of the government to service their debts. The debts resulted in heavy government spending and the desire to help those countries in problem to get out of the economic crisis. A typical example is Greece who received numerous loans for the purposes of bailing itself out of the economic crisis. However it emerged that the country was unable to service their debts (Rose Wincoop, 2001). Similarly other countries such as Italy and Portugal accrued debts at very high levels making them unable to successfully service their loans. Additionally member countries such as Spain found it difficult to roll-over maturity debt, this coupled with the fact that it was not possible for EUROZONE member countries to raise enough financial resource to rescue member countries such as Italy and Spain was too large contributed to the confident crisis in the reg ion (Yifu, L. Treichel, 2012). More importantly financial deregulation and liberalization contributed to the confident crisis. These two concepts enhanced the creation of new financial instruments as well as derivatives which made banks in member countries to raise leverage and to boost funds to be loaned. This in the end spurred a real estate as well as expenditure explosion (YifuTreichel, 2012). Similarly another contributor to the consumption bang is the single currency which eliminated currency risk by allowing the interest rates to be lower. The two concepts as well as the decline in interest rates led to increased inflows of money from core fall in interest rates contributed to large inflows of capital from core countries into periphery countries resulting in housing bubbles and surplus consumption. Conclusion From the review the paper has critically looked into the assumption that the adoption of a single currency is to blame for the recent EUROZONE crisis. However, looking at the advantages and disadvantages of the economic structure I beg to disagree with Martin Feldstein views that the current crisis of the European single currency was an accident waiting to happen. To my understanding, a host of factors contribute to financial crisis and it is wrong to lay blame on a single currency economy as the sole reason for the crisis. Similarly the major causes of confident crisis in the region include failure of government to service their debts, high level of unemployment as well as financial deregulation and liberalization. The Asian Curreny/Financial crisis The East Asia Currency/financial crisis were mainly caused by sudden shifts in market confidence and expectations. Since the macroeconomic in some countries had worsened in 1990s, the depth of the 1997-1998 crisis are not attributed to deterioration in fundamentals, but to panic on the international domestic investors, reinforced by the international financial community and response of the International Monetary fund faulty policy (Poser, 2008). The financial turmoil reflected policy and structural distortions in the countries of that region. The currency and financial crisis in 1997 was triggered by fundamental imbalances. Once the crisis started, herding and market overreaction caused the plunge of exchange rates, economic activity and asset prices to be more severe than the one which was warranted by the weak economic conditions. The macroeconomic imbalances in East Asia countries are accessed within structural factors: foreign indebtedness and current account deficits, savings and investment ratios, real exchange rates, growth inflation rates, budget deficits, and foreign reserves, measures of debt and profitability and political instability (Roubini, Pesenti, Corsetti, 1999). Principal factors responsible for the Asia currency/financial crisis The roots of the Asian crisis are evident on the structure of incentives under which financial sectors and corporate operated in the region, in reference to regulatory inadequacies and close relationship between private and public institutions. The Asia moral hazard magnified the financial vulnerability of the countries in the process of financial market liberalization in 1990s, showing its fragility in the financial and macroeconomic shocks that occurred in 1995-1997 period. This problem lead to the exhibition of three different yet strictly related dimensions at the financial, corporate and international level (Mengkni, 2009). For the corporate level, political pressures for maintaining high economic growth rates led to long public guarantee to private projects, where some of them were undertaken under control of the government, subsidized directly, or supported policies of credit to favor industries and firms. In the absence of explicit promises of bail out, the strategies and plans of production of the corporate sector overlooked riskiness and costs of the underlying investment projects. Having the industrial and financial policy enmeshed within a business sector network o political and personal favoritism, and with the government being ready to intervene for the troubled firms, markets were operated with the impression that to be back to the investment was some how insured against adverse shocks (Poser, 2009). This beliefs and pressures represented the underpinnings of a sustained process of accumulation of capital, hence resulting into sizable and persistent current account deficits. As we all know, borrowing from a broad to finance investments domestically should not lead to concerns about external solvency, but it can be the optimal course of action for economies which are undercapitalized with good investment opportunities. According to the evidence for the countries, in 1990s, it highlights that the profitability of the projects which were new was low. The capital inflows and investment rate in Asia remained high even after the negative signals which were sent by profitability indicators. This result was due to the interest rate which fall in industrial countries lowered the capital cost for inflows and motivated financial flows in these East Asian countries. The crucial factor which underlined the sustained investment was the moral hazard problems in the countries, hence leading the banks to borrow excess finances from abroad and lending excessively at home. The financial intimidation also played a crucial role in channeling the funds to projects which were marginally if not outright unprofitable (Roubini, Pesenti, Corsetti, 1999). In the Asian pre crisis, there is a long list of structural distortions in the banking and financial sectors. these are: low capital adequacy ratios, weak regulation and lax supervision, insufficient expertise in the regulatory institutions, lack of compatible-incentive deposit insurance schemes, distorted incentives for monitoring and project selection, non market criteria of credit allocation, outright corrupt lending practices, according to the model of relationship of banking that practiced semi monopolistic relations between firms and banks while down playing price signals. The stated factors lead to the creation of severe weaknesses in the undercapitalized financial system, with a growing share of non performing loans (Poser, 2008). The distortion consequences were magnified by the financial market deregulation and rapid process of capital account liberation in the region during the 1990s, which leads to the increase of elastic supply of funds from abroad. The liberalization of capital markets was consistent with low supply of funds to the domestic corporate and national financial institutions sector. This goal motivated policies of exchange rate aimed at reducing the domestic currency in terms of the US dollar; hence the risk of premium on dollar denomination debt is reduced (Mengkni, 2009). International dimension of the moral hazard problem was affected by the international banks behavior, which lead to crisis over a period had lent large funds to domestic intermediaries, with the neglect of standards for risk assessment. This over lending syndrome may have lead to short term interbank be effectively guaranteed by a direct government intervention in financial debtors favor, or by indirect bail out through IMF support programs. Again, large amount of foreign debt accumulation was in the form of unhedged, bank related short term, and foreign currency denominated liabilities. In the year 1996, a short term liability in the form of total liabilities above 50 percent was the norm in the countries. Also, the ratio of foreign reserves to external liabilities, which is an indicator of financial fragility, was above 100 percent in Thailand, Indonesia and Korea (Roubini, Pesenti, Corsetti, 1999). The implication of moral hazard is the adverse shock to profitability which does not induce financial intermediaries to be more cautious in lending and following the financial strategies hence reducing the riskiness of their portfolios. To be opposite, the negative implications of a future bail out gives a strong incentive to act on more risk. On this regard, several countries, specific and global shocks lead to severely deteriorate that the outlook of the overall economy in the Asian region. This exacerbated the distortions in place (Poser, 2008). Inevitability of the Asia Crisis The Asian financial crisis was inevitable because before the crisis, the Asia countries currencies were already depreciating and the growth was very slow. There was also a drop of stock markets and real estate, and speculative trends were fueled by foreign capital inflows. This led to outright defaults and wide losses in the financial and corporate sectors. Again, policy uncertainty which was stemming due lack of commitment to structural reforms by the domestic authorities made things worse. The rapid reversals of financial capital inflows on the summer of 1997 lead to regional currencies collapse hence the international and domestic investors panic (Mengkni, 2009). The timing of the crisis The timing of the crisis was in line with financial challenges of the East Asia countries. The economy of the countries was stagnant before the crisis began. Before the crisis, there was fundamental imbalance which was triggered by financial and currency crisis. Therefore, the timing of the crisis was in relation with the weak economic conditions experienced (Roubini, Pesenti, Corsetti, 1999).