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Taoism and Confucianism Research Paper Example

Taoism and Confucianism Research Paper Example Taoism and Confucianism Paper Taoism and Confucianism Paper Essay Topic: Religion Tao Te Ching The Chinese spiritual experience is a synthesis of Taoism and Confucianism. I feel it is their shared quest that humans move away from being individuals to become a part of a greater whole, whether it is Confucius society or Lao Tzus nature. However, just as they have their similarities they, like all the other religions, have their differences, theirs being the way to becoming a part of the greater whole. In their different and similar aspirations, like the Yin and the Yang, Taoism and Confucianism is a combination which balances the Chinese character. I believe the Chinese spiritual experience is when humans strive by being or doing to become a part of the greater whole. Both Taoism and Confucianism urge humankind to shed their individuality for this goal. They both contend that individualism holds the individual back as well as fragments the essence of the greater whole. When more people become a part of it, the greater whole will become stronger. As Lao Tzu asks, What happens when 10,000 people go back into the woods? I think he might have answered the woods, nature, becomes that much greater by being able to guide life in its own way. Just as Taoism and Confucianism maintain a similar direction, they differ in other aspects. One difference they come across is what the greater whole is whether it be the Taoists nature or the Confucianists society. Another opposition they have is what process one takes in becoming a part of the greater whole. Where Taoism says the way to do is to be, Confucianism disagrees saying the way to be is to do. The two religions also differ as to what actually makes the other great. Whereas Taoism says the Tao (the way) makes people great, Confucianism teaches that people make the Tao great. I believe the most significant variance between Taoism and Confucianism is what is the greater whole. Taoists believe the greater whole to be nature. However, Confucianists feel it is society. They are both correct if we looked at the hierarchy of the Chinese experience that is self, society, nature, cosmos, and the great beyond (infinity). The difference comes in how far they travel to find the greater whole. The Confucianists stop at society because they see it as synthesis of effort put forth by every human being to make life better. Taoists look to nature because they see it as our creator and being our creator we should realize our potential to become apart of it once again. How a person becomes a part of society or nature is also a point the two religions split ways. In Taoism, the way to do is to be or simply the way to be will guide us to unity with nature. Confucianism disagrees noting the way to be is to do or plainly the way to do will make us a part of society. Taoism is the guidance of the way. The way can be defined in three manners. Taoism is the way of the ultimate reality. It is where everything originated yet we can only experience. There are no words or pictures to describe it, and all we can know is it is within us, it is outside us, it is everywhere and nowhere. Taoism is the way of the universe. It is the driving power in everything which exists. It is natures orderer. It puts everything in its place without any spark of prejudice. Taoism is the way of human life. It is humans emulating water. It is humans doing by not doing. It is humans allowing nature to guide them. Confucianism follows the way of doing. Its model figure is the Chun Tzu who in our society could be likened to a moral leader. Humans strive to become the Chun Tzu (Superior Man) because they must serve others. To become a Chun Tzu, one must first follow the way of Jen by respecting themselves and maintaining a sensitivity towards all humanity. One must strive to be just to others and to be understanding of others emotions. One must also follow the Silver Rule of not doing those things they would not have others do to them. Another division between the two religions is their contrasting beliefs as to what force makes the other great. Taoists believe it is the way or the Tao that makes humans great. This is because it is the Tao by which humans are able to rejoin with nature. By rejoining nature, we are able to regain power in allowing nature to do things or things to do themselves. However, Confucianists believe it is humans that make the Tao great. This is because only through the efforts of humans can society become great. Humans make the Tao great by choosing to follow it, giving power to its force. There are opposite forces in all corners of life. There is no day without night and no good without evil. Like the Yin and the Yang, these opposing forces are halves of a greater whole. Just as these forces merge to create a vivid existence so too does Taoism and Confucianism combine to create a brilliance in the Chinese Character. Without one the other would be greatly flawed, but their joined beliefs and practices make the one as well as the infinite greater. It is not hard to see that our western society could learn a lesson from the teachings of Lao Tzu and Confucius. Nature which we have coldly ravaged and our own streets would be safer. Politicians would actually work for the society instead of the powerful few. Even art would be supported for its value in bringing people together. However, we could never hope to attain the dedication both require because of our deeply rooted individualistic attitudes. If we followed the practices of Confucianism and we believed that serving others is great honor, then our western world would be a safer one. There would be no illegal drug use or sells for we would know this is harmful to those we live to serve. There would be no crime for we would live by sharing all that we have with others eliminating the main cause of crime, the desire to have what we do not have. Life as we know it would be transformed into a peaceful world where we care for others regardless of who they are. If politics were conducted based on Confucianism, the government would be a vessel for society. Politicians would not be indentured to private causes driven by personal gain because they would believe that their purpose is to serve society. They would be the rightful protectors of all they govern. They would also uphold the principles of Li for they would understand that they have been given a chance to make society greater and to maintain its greatness. If we followed Taoism or Confucianism, we would fully support the arts of our days. We would provide the means for artist to flourish and places to share their works. There would be no art critics for the purpose of art is to bring society together. Critics are deconstructionists and they would be a hindrance in the natural expression of art. It is in the naturalism of art that the two religions find its power of unity. Run by the Chinese religions, our society would appreciate art not because peoples analysis finds it excellent but because art is a grounds of bringing people together. We look to the stars in search of our future when we only need look at ourselves to find it. Before we can reach the stars we must be one entity. I believe this is the overall lesson of the Chinese religions that to be great we must be unified. Imagine what we could become and where we could go if we have our opposite forces working together. Once this were to happen, nothing could ever work against us.

Musical Orientalism Essay Example | Topics and Well Written Essays - 1000 words

Musical Orientalism - Essay Example Imitation aims to duplicate; musical Orientalism has little to do with the objective conditions of non-Western musical practices-rather, it brings something new into being. Here is a list of Orientalist devices, many of which can be applied indiscriminately as markers of cultural difference. Orientalism describes the representation of the Eastern Other to the Western Self; it is not an impartial account of cultural difference, it is alternity understood in terms of fear and desire, terror and lack. Orientalism is never quite a case of "anything goes"; it is possible to mix signifiers of difference in a confusing manner: for example, it would be possible to write a calypso using Liszt's "Hungarian" scale. Moreover, Orientalist signs are contextual. For example a mixture of 6/8 and 3/4 is not a sign for Spanish in William Byrd's madrigal "Though Amaryllis Dance in Green," but it is in Bernstein's "I Want to Be in America" (from West Side Story). Likewise, the similarity between the close of the first movement of Anton Bruckner's Sixth Symphony and the theme tune of Maurice Jarre's Lawrence of Arabia does not create confusion. It is interesting, nonetheless, to wonder how much more stress on the Phrygian in Bruckner's coda would have been necessary to conjure up Sinbad for Donald F. Tovey, rather than Odysseus. In westerIn western music, Orientalist styles have related to previous Orientalist styles rather than to Eastern ethnic practices, just as myths have been described by Lvi-Strauss as relating to other myths. One might ask if it is necessary to know anything about Eastern musical practices; for the most part, it seems that only knowledge of Orientalist signifiers is required. Nevertheless, the state of affairs found in a work like Rameau's Les Indes Galantes (1735), where, for example, Persians are musically indistinguishable from Peruvians, was to change. Distinctions and differences developed in the representation of the exotic or cultural Other, and that, as well as the confusion that sometimes results, is my present concern. This confusion is most evident in the nineteenth century, when Western composers, especially those who worked in countries engaged in imperialist expansion, were torn between, on the one hand, making a simple distinction between Western Self and Oriental Other and, on the other hand, recognizing that there was no single homogeneous Oriental culture. Thus, even when different Orientalist styles had become established, they could sometimes be applied in a careless manner. J. A. Westrup stated apropos of Purcell's The Indian Queen: "For all the music tells us, the action might be taking place in St. James's Park." His remark indicates that there is a historical specificity to musical Orientalism and thus helps to establish its beginnings. Consider the music sung by the Indian Boy, which concerns "native innocence," part of a favorite colonizing theme in which the indigenous peoples of conquered countries are looked upon as children-and here they are indeed a boy and girl. Lakm's "O va la jeune Indoue" (the "Bell Song" from Delibes's opera Lakme, 1883) is a tale of a young Indian girl's seduction by the divine Vishnu. It begins with a wordless vocalize, a device that became common in representations of the "emotional" Easterner, the lack of verbal content pointing to a contrast with the "rational" Westerner. Carolyn Abbate (1991) remarks that

Leadership Phase 1 individual Project 1 Essay Example | Topics and Well Written Essays - 1000 words

Leadership Phase 1 individual Project 1 - Essay Example Similarly in case of change the situational leader will concentrate on the people or his subjects who cannot adjust themselves to change. According to Ken Blancard the situational leader will analyses the needs of the situation dealt by him and his team. This will be the first step in adopting him and his team to the situation. After analyzing the situation he decides on the style of leadership. This has been applied with different types of managers at different levels. The situational model is simple to understand and can be applied in various environments. Not only to the managers, can the situational model of leadership be applied universally to any person in work and at home? The leadership behavior depends on the strengths of the leader. The strength of the leader decides the direction and the support received by him from his supporters and vice versa. In this manner the style I select is about direction the leader gives to the followers and the support he receives from them. In the direction the training is involved and in the support of the followers, the delegation is involved. This involves problem solving, which can be termed as an important aspect in the course of leadership. The style of leadership decides the development level. As the leadership style depends on the followers it is up to the leader to mould them according to the style. This can increase the development level of the follower by the leader. The leader should show competence, commitment to make the followers increase their development levels according to the styles of the leader. Here the styles are direction and support. The followers must be in a position to support the leader an d this position shall arise due to activities and strength of leader. The direction and support styles will suit the situational leadership because the development levels of the followers are situational and should vary with changes they face. The situational model I chose will be comfortable to me

Paraphrasing Essay Example | Topics and Well Written Essays - 1000 words - 1

Paraphrasing - Essay Example The heat transfer resistances are determined by the feed flow rate and feed concentration, feed temperature and other operating parameters. The system heat transfer is controlled by the heat transfer in the membrane the resistance of which is 27-46 times higher than that of feed stream. 1. Heat Transfer The total heat flux (Q), across the membrane is expressed by the following equation: (1) Where, U is the overall heat transfer coefficient is bulk temperature difference among the feed and permeate sides J is the trans-membrane mass flux is the latent heat of vaporization Under steady state conditions, derived from the heat balance, the heat transfer in the individual compartments of system is represented by the following equation: (2) On the basis of equation 8, and, or the temperatures on both sides of the membrane can be estimated using the following equations: (3) (4) Further the heat transfer coefficient of the membrane (hm) can be determined on the basis of thermal conductivitie s of the membraneand of the vapor that fills the pores, using the equation 5. (5) The heat transfer coefficients of the boundary layer and can next be estimated experimentally or can be calculated using empirical correlations of dimensionless groups, namely Nussselt number (Nu), Reynolds number (Re) and Prandtl number (Pr). These numbers can be calculated directly from the data available for aqueous NaCl solutions and water, using the equation 6. ... The primary set up included pure water operated at four selected feed temperatures viz. 40, 50, 60 and 70?C. 3. Membrane distillation coefficient and pure water flux The vapor pressure differencewas calculated at the membrane surface temperaturesand, and plotted against the steady state fluxes obtained at selected feed temperatures as illustrated in Fig 4. On the basis of equation (1), it can be concluded that the slope of the straight line of the plot thus obtained gives the value of membrane distillation coefficient, (C= 0.0004 kg/m2.h.Pa or C= 1.11E-7 kg/m2.s.Pa). The membrane distillation coefficient remains constant for a specific membrane and vapor properties. The experimentally determined value of C was equivalent to the value reported in literature (C= 8.5E-7 kg/m2.s.Pa). 4. Effect of feed temperature on permeate flux Permeate flux is largely dependent on fee temperature. Fluxes of pure water and aqueous NaCl solution is represented in Fig. 6. Elevation of feed temperature le ads to a rise in permeate flux as a consequence of rise in vapor pressure of gas-liquid interface on liquid feed side, which causes a simultaneous increase in the driving force of mass transfer. 5. Effect of feed flow rate on permeate flux At a constant temperature the mass flux is dependent on feed flow rate as depicted in Fig. 7 showing the flux time curve at four feed flow rate at a constant temperature of 40?C. The mass flux rate is directly proportional to feed flow rate since a rise in feed flow rate causes a rise in turbulence, reduction of heat transfer resistance in the boundary layers and consequential rise in mass transfer rates. Moreover, the increase of feed boundary heat transfer coefficientwith Reynolds number lead to further rise

Appraisal Techniques Available to Finance Managers

Appraisal Techniques Available to Finance Managers INTRODUCTION: What are the different appraisal techniques available to finance managers to make decisions relating to investment projects? Discuss each of them and recommend, giving your reasons, which of them you consider as the best technique applicable to your company. INVESTMENT APPRAISAL: Investment appraisal also known as capital budgeting. As finance manager one of the important areas of decision-making for the long-term is must to tackle the investment the need to committed funds by buying buildings, machinery and land. Finance manager have to check of the size of the inflows and outflows of funds, for handling these types of decisions, the degree of risk and the lifespan of the investment cost of obtaining funds are despatched. The capital budgeting cycle can be summarised in some stage which are as follows: Expecting investment needs Identifying project to satisfy needs Examine the alternatives Choose the best alternatives Making the spend Monitor the project Looking at investment appraisal involves us in stage 3 and 4 of this cycle. We can classify capital expenditure projects into four broad categories: Maintenance replacing old or obsolete assets for example. Profitability quality, productivity or location improvement for example. Expansion new products, markets and so on. Indirect social and welfare facilities. Even the projects that are unlikely to generate profits should be subjected to investment appraisal. This should help to identify the best way of achieving the projects aims. So investment appraisal may help to find the cheapest way to provide a new staff restaurant, even though such a project may be unlikely to earn profits for the company. WHAT ARE THE INVESTMENT APPRAISAL TECHNIQUES? Investment Appraisal also known as Capital Budgeting is used to assess whether capital Expenditure on a particular project will be beneficial for the entity or not. These techniques can be used to evaluate projects both in the private and public sector companies. Most commonly used the following techniques. A: Traditional Methods 1: Payback Period 2: Accounting Rate of Return (ARR) B: Discounted Cash Flow Methods 3: Discounted Payback Period 4: Net Present Value (NPV) 5: Internal Rate of Return (IRR) 6: Modified Internal Rate of Return (MIRR) 7: Adjusted Present Value (APV) Traditional Methods Payback and Accounting rate of return (ARR) period are non discounted methods while all other mentioned methods are discounted. By discounted it is meant that the time value of money is considered in these methods. 1: Payback Period Payback period calculates the time taken by a project to recoup the initial investment. For a finance manager, evaluating projects by this technique would prefer projects with short payback period than those with longer payback periods.It is simple to calculate and easy to understand. Payback is literally the amount of time required for the cash inflows from a capital investment project to equal the cash outflows. The usual way that firms deal with deciding between two or more competing projects is to accept the project that has the shortest payback period. Payback is mostly used as a starting screening method. Payback period = Initial payment / Annual cash inflow So, if  £12,000000 is invested with the aim of earning  £12,00000 per year or net cash earnings, the payback period is calculated thus: P =  £12,000000 /  £12,00000 = 10 years This all looks fairly easy! But what if the project has more uneven cash inflows? Then we need to work out the payback period on the cumulative cash flow over the duration of the project as a whole. Payback with uneven cash flows: Of course, in the real world, investment projects by business organisations dont yield even cash flows. Have a look at the following projects cash flows with an initial investment in year 0 of  £120,000 The payback period is precisely 6 years. The shorter the payback period, the better the investment, under the payback method. We can appreciate the problems of this method when we consider appraising several projects alongside each other. We can see that the payback period for two of the projects (3, 5) is six years. In this case, then, the two projects are of equal merit. But, here we must face the real problem posed by payback: the time value of income flows. Put simply, this issue relates to the sacrifice made as a result of having to wait to receive the funds. In economic terms, this is known as the opportunity cost. More on this point follows later. So, because there is a time value constraint here, the two projects cannot be viewed as equivalent. Project 3 is better than 5 because the revenues flow quicker in years five and six. Project 4 is better than Projects 1 and 2, because of the earlier flows and because the post-payback revenues are concentrated in the earlier part of that period. So its clear that the payback method is a bit of a blunt instrument. So why use it? Advantages of payback: 1st, it is popular because of its simplicity. Research over the years has shown that UK firms favour it and perhaps this is understandable given how easy it is to calculate. 2nd, in a business environment of rapid technological change, new plant and machinery may need to be replaced sooner than in the past, so a quick payback on investment is essential. 3rd, the investment climate in UK in particular demands that the investors got fast returns. Mostly long-term profitable possibilities investments are viewed due to longer wait for revenues flow. Disadvantages of payback: It has not enough real facts, which choose the length of best payback time? No one from other does it is planned by pitting one investment opportunity against another. Cash flows are regarded as either pre-payback or post-payback, but the latter tend to be ignored. Payback takes no account of the effect on business profitability. Its sole concern is cash flow. Payback summary. It is probably best to regard payback as one of the first methods you use to assess competing projects. It could be used as an initial screening tool, but it is inappropriate as a basis for sophisticated investment decisions. 2: Accounting Rate of Return (ARR): This technique compares the profit earned by the project to the initial investment required for the project. Thus a project with higher rate of return is preferred. The Accounting rate of return expresses the profits arising from a project as a percentage of the initial capital cost. However the definition of profits and capital cost are different depending on which textbook you use. For instance, the profits may be taken to include depreciation, or they may not. One of the most common approaches is as follows: ARR = (Average annual revenue / Initial capital costs) x 100 Lets use this simple example to illustrate the ARR: A project to replace an item of machinery is being appraised. The machine will cost  £550,000 and is expected to generate total revenues of  £80,000 over the projects seven year life. What is the ARR for this project? ARR = [( £ 90,000 / 7) / 550,000] x 100 ARR = 2.37% Advantages of ARR As with the Payback method, the chief advantage with ARR is its simplicity. This makes it relatively easy to understand. There is also a link with some accounting measures that are commonly used. The Accounting rate of return is similar to the Return on Capital Employed in its construction; this may make the ARR easier for business planners to understand. The ARR is expressed in percentage terms and this, again, may make it easier to use.There are several criticisms of ARR which raise questions about its practical application: Disadvantages of ARR: 1st, the ARR doesnt take account of the project duration or the timing of cash flows over the course of the project. 2nd, the concept of profit can be very subjective, varying with specific accounting practice and the capitalisation of project costs. As a result, the ARR calculation for identical projects would be likely to result in different outcomes from business to business. 3rd, there is no definitive signal given by the ARR to help manager to decide whether or not to invest. This lack of a guide for decision making means that investment decisions remain subjective. Discounted Cash Flow Methods 3: Discounted Payback Period This technique works similar to payback period, the difference here is that discounted values of cash flows are used for calculation of the payback period. 4: Net Present Value (NPV) The NPV method calculates the present values for all future cash flows. The discount rate may be the Weighted Average Cost of Capital (WACC) or it may be any cost of capital depending on the risk of the project in consideration. This type of appraisal is regarded superior to the ARR and the payback period, however there are certain assumptions, on which this technique is based, making its evaluation less reliable. The Net Present Value (NPV) is the first Discounted Cash Flow (DCF) technique covered here. It successes on the idea of situation cost to put a value on cash inflows increasing from capital investment. Keep in mind that opportunity cost is the calculation of what has been given or forward as a result of a special decision. It is also referred to as the real cost of taking some action. We can look at the concept of present value as being the cash equivalent now of a sum receivable at a later date. So how does the opportunity cost affect revenues that we can expect to receive later? Well, imagine what a business could do now with the cash sums it must wait some time to receive. Looked at another way, it is simply that the business have to receive the capital to invest in the project. So, it has to wait for the revenues arising from the investment, the interest is paid on received capital. NPV is a technique where cash inflows expected in future years are discounted back to their present value. This is calculated by using a discount rate equivalent to the interest that would have been received on the sums, had the inflows been saved, or the interest that has to be paid by the firm on funds borrowed. Present Value Table Net Present Value tables provide a value for a range of years and discount rates. Notice the time scale used in the table: The present value for 0 years is always 1, and this is not included in the present value table. If we are looking to find the present value of  £ 10, 0000 which you expect to receive in 5 years time, at a rate of interest of 7 %, we should use the following table: Step 1 Look down the top column of the table (After n years) and find 5 years. Step 2 Look across the row titled At rate r for the rate of interest of 7 %. Step 3 Where the row for 5 years intersects with the column for 7 % in the table, there is the relevant present value factor. In this case this is 0.713. Step 4 Multiply  £ 10, 0000 by 0.713 =  £ 71300 NPV Illustration Calculate the present value of the following projects cash flows, using a 10 % discount rate. Assessing the value of NPV calculations is simple. A positive NPV means that the project is worthwhile because the cost of tying up the firms capital is compensated for by the cash inflows that result. When more than one project is being appraised, the firm should choose the one that produces the highest NPV. 5:Internal Rate of Return (IRR): IRR calculates the rate at which the NPV of a project equals zero. According to this method if the cost of capital of a company is more than the IRR, the project will be rejected and if it is lower than the cost of capital it is likely to be accepted. IRR and NPV concepts are correlated. We know that when a positive NPV is produced by our DCF calculations, a project is worthwhile. We have also seen that when there are competing projects, we should select the one that produces the highest NPV. But sometimes a finance manager will wants to know how well a project will perform under a range of interest rate scenarios. The aim with IRR is to answer the question: What level of interest will this project be able to withstand? Once we know this, the risk of changing interest rate conditions can effectively be minimised. The IRR is the annual percentage return achieved by a project, at which the sum of the discounted cash inflows over the life of the project is same to the sum of the capital invested. Another way of looking at this is that the IRR is the rate of interest that reduces the NPV to zero. Making the investment decision Lets set out the criteria for accepting or rejecting investment opportunities, using the NPV and IRR. As a Finance manager, considering whether to accept or reject an investment project, on the basis of their acquiring the funds necessary at a known rate of interest. 1: The NPV approach asks if the present value of cash inflows less the initial investment is positive, at the current borrowing rate. 2: The IRR approach asks if the IRR on the project is greater than the borrowing rate. Illustration of NPV IRR An initial investment of  £ 2500 in a project produces cash inflows of  £ 750,  £ 750,  £ 900,  £ 900 and  £ 595 at 12 month intervals. The cost of capital to finance the project is 12 %.We are required to decide whether the project is worthwhile using: 1. The Net Present Value 2. The Internal Rate of Return A positive NPV makes the project worthwhile because the cost of tying up the firms capital is compensated for by the cash inflows that result. 2. IRR The above calculation for NPV used a 12 % discount rate and produced a positive value of  £ 318.07. We need to find a discount rate that produces a negative NPV. Lets try 20 %. The IRR lies between 12 % and 20 %. But we can get much closer to the precise answer by using arithmetic. IRR = 12% + Difference between the two discount x Positive NPV Range of +ve to â‚ ¬Ã¢â‚¬Å"ve NPVs IRR = 12 % + (8 % x 318.07) IRR = 478.73 IRR = 12 % + 5.32 IRR = 17.32 % IRR Problems While there are some different difficulties with the IRR, MIRR solves two of them. First problem is the IRR accepts that interim complete money movements are invested again at the rate of return which was same as the project which creates them. This is most often happening a plan which is not real and a very simple situation, that the funds will be invested again at a rate where the firms cost of capital is closure. Therefore, the IRR often provides a reasonable, hopeful image of the projects which is under study. Normally for checking the projects in the fair way, the weighted average cost of capital can be used for investing again the interim money movements. 2nd, you can find more than one IRRs for projects with different negative and positive flows of cash, which control to confusion. IRR Summary: The value to a business of calculating the IRR is that its decision-makers are able to see the level of interest that a project can withstand. In the case where a number of projects are competing for selection, the one that is most resilient can be chosen. 6: Modified Internal Rate of Return (MIRR) (MIRR) is a managing the methods of an investments attractiveness. It is used in capital budgeting to give the rank to different investments. Modified Internal Rate of Return is a change of the (IRR) internal rate of return and intent to solve some problems with the internal rate of return (IRR). Using (IRR) we assumes that reinvestment rate of the company is the (IRR). (MIRR) overcomes this assumption and evaluate projects on the assumption that the reinvestment rate is the same as the companys cost of capital. This assumption for the cost of capital makes it a more effective technique as compared to the IRR. MIRR is calculated as follows: mbox{MIRR}=sqrt[n]{frac{-FV(text{positive cash flows, reinvestment rate})}{PV(text{negative cash flows, finance rate})}}-1 Where n is used for the number of same periods which is at the finish stage, where the cash flows occur, PV is used for present value, FV is used for future value. 7:Adjusted Present Value (APV) APV method is used for evaluating investment in projects where risks for a project are different from the company considering such undertakings. This type of evaluation overcomes weaknesses present in the NPV technique. Adjusted present value (APV) is similar to NPV. Use the cost of equity as the discount rate is different. For the financing effects different adjustments are made. Normally with DCF models, adjusted present value calculation is simple but boring. Calculating the first step of an APV is to calculating the basic NPV by using the cost of equity like discount rate. The companys cost of equity and this may be the same. To recalculate using CAPM and by estimating a beta, in some cases may be it is necessary. First calculated the base of NPV, after that calculate the NPV of every set of cash flows which results from financing. The tax results of using debt rather than equity are most obvious. The cost of debt can be discounted or that shows unknown activities about the tax effects at a higher rate. NPV of the tax effects is added then to the basic NPV. If there are some other activities of financing, also added or subtracted, then APV is the final result. Given capital organization unrelated, savings from the financing should be levelled by changes in the necessary return on equity and changes in capital structure as well. Normally this makes a simple NPV with the WACC like the discount rate suitable. Normal NPV calculation: Where, in a simple situation: These more complicated situations are more easily handled BY using Adjusted Present Value (APV), more difficult conditions are very easy to handle. APV based on the below: APV = NPV of project pretended, itâ‚ ¬Ã¢â€ž ¢s all equity financed + NPV of financing results. APV divide the total value of the project into different parts: any debt is no used for value assuming in one part, and then using the debt in capital structure we add the extra value Best Technique: After discussing all the financial appraisal techniques, it seems that the choice of best financial appraisal techniques depends upon the nature of Project. References Internal Rate of Return: A Cautionary Tale Find MIRR with FinEasy MIRR v1.0 3. http://en.wikipedia.org/wiki/Modified_internal_rate_of_return http://www.bized.co.uk/timeweb/reference/using_experiments2.htm http://en.wikipedia.org/wiki/Finance http://moneyterms.co.uk/dcf/ http://moneyterms.co.uk/capital-structure/

Last Exit to Brooklyn :: essays papers

Last Exit to Brooklyn Last Exit to Brooklyn is a very violent film. In fact, the film’s purpose is to have the audience look at the whole question of violence. The film shows, in a very realistic way, the psychological, verbal and physical violence that permeates a Brooklyn neighborhood in the midst of a bitter strike during the 1950s. The film is based on the book, Last Exit to Brooklyn, by Hubert Selby, which was banned for its violent and sexually explicit content. Verbal violence is very prevalent in this film. People swear at and verbally abuse one another throughout the movie. Everyone seems angry. There are several causes for their anger. First the film takes place during a strike. Many of the characters are unemployed and have little money. They resort to drinking and drugs that feed into their society’s violent tendencies. In one scene, the workers who are on strike are screaming obscenities at the scab workers and the boss. But in virtually every scene there is verbal violence. In every scene someone is being threatened, belittled, embarrassed or humiliated. The verbal violence is so punishing because behind it is the possibility of physical violence. Physical violence is also very common behaviour in the movie. For example, the very first scene shows a violent altercation between three soldiers and a gang of local thugs. Physical violence is the fundamental way in which the whole society behaves. The men use it to show that they are â€Å"macho,† so they beat up those who are weaker than they are, especially women. For example, Vinnie, the leader of a street gang, physically and verbally harasses a young prostitute named Tralala. In the most violent, nasty, and horrible scene in the movie, Tralala is gang raped and beaten by over a hundred men in a garbage dump. Many of the men in the film are homophobic and sexually insecure, and they act out their hostility and insecurity by beating up gays. They have problems at work and go out on strike. But their strike is full of violent incidents: they get into fist fights, they blow up trucks, they beat up cops. Whenever they have a problem, they use violence to deal with it. Psychological violence, that is, intimidation or the threat of violence, is also an important element of this film. Vinnie is a gang leader who uses psychological violence to control and manipulate his gang and other people in the neighborhood.

Come a-knocking on Death’s door Essay

The Ode is used as a poetic form for philosophical contemplation. Compare two odes by Keats in the light of this observation How much do you agree with the statement: John Keats was unfortunate in his upbringing to some extent? On one hand there was a chance for a budding surgeon but he gave that away to his literary awakening which drew him to write odes such as the ones I am going to analyse. Personally, learning about his life prior to literature, I feel that the situations he dealt with, at such a young age were remarkable but perhaps had he not faced those decisions, he wouldn’t have come to write such poetry brimming full with philosophical contemplation. John Keats was born on the October 31st, 1795 in Finsbury Pavement, near the centre of London. He learnt to deal with death from an early age as his father died in an accident when he was only eight years old. Seventeen years later in 1810, his mother died due to consumption, leaving John in the care of his grandmother. Subsequently, under the care of guardians he left school to become an apprentice to a surgeon. Unfortunately, before the completion of his apprenticeship, John had a quarrel with his master and therefore left to pursue a stronger path in literature, deftly in the company of his good friend Cowden Clarke. Three years of receiving scarce and negative feedback on his sonnets and poems, John was once again in the presence of a dying man: this time it was his brother. Tom Keats was also taken by consumption in 1818. Though by this time, distinct signs had begun to show in the decent of Keats’s own health. Keats himself was fighting illness and death in his latter years. Despite the fact of his deteriorating wellbeing, Keats continued to delve deeper into love and time. His mental understanding of what lies beyond was perhaps something that I could never even begin to contemplate. His dying wish was to have the words: â€Å"Here lies one whose name was writ in water,† on his gravestone when he died on 23rd February, 1821. Writing his most famous odes in his dying years was a sign of great character; I think that being able to face such a prospect of dying young, his mind matured faster than that of others. Increasingly throughout the odes, I can see that John has indeed spent many thought provoking sessions in front of the artefact he describes. He sees, he feels, he waits and then he writes. The form of poetry which Keats was most celebrated for was the Ode. This style of elaborate and stately lyric poem was lengthened or shortened at the whim of the poet. However, the basic arrangement of the stanzas was patterned in sets of three – a strophe and an antistrophe, of which both had an identical metrical scheme, and an epode, which had a structure of its own. Dating back to the Greek choral songs, the ode has appeared in many centuries over the world. Roman poets such as Catullus took the form of poetry to their own meaning. The ode was generally used to express strong emotions that flooded the poets mind at the time, the poet would be transfixed onto the idea and he would try to convey his meaning through the literary form.

buy custom Means of Empowering Nurses essay

buy custom Means of Empowering Nurses essay Certification is one of the ways of empowering nurses since it validates their competency and increases their chances of experiencing professional growth. However, certification comes at a cost and one has to spend time pursuing the certification process. Certified nurses are often regarded as specialty leaders in their practice. For a nurse to get certification, many hours have to be spent in a program that facilitates the certification process. Therefore, the initials that are found in names of some nurses indicate more than professional excellence; they also indicate the efforts that the nurse made in pursuing a program that would facilitate the recognition of her individual nursing excellence in a particular specialty. While certification plays a very important role in the nursing profession, it also has a share of problems. The implication created by certification by specialty is that nurses practice as autonomous groups. These groups are established in the process through which different nurses are required to meet different qualifications in order to be certified. Practice, education and experience requirements differ from one specialty to another. Specialty organizations have in the past been trying to propose the creation of a nursing specialty board at the national level whereby certification criteria and standards would be established uniformly. The presupposition of this proposal was that this would increase the value of credentials in a scenario where there is wide variation in nursing certification programs, thereby improving professionalism in nursing. Certification is a means of empowering nurses. Specialty certification benefits the individual nurse, the area of specialty where the nurse practices, (and generally, the nursing profession), the institution and the entire community. Gibson (1989), (cited in Tenney, Demoucell Wias, 1992) revealed in a research study on nurses perceptions of specialty certification that nurses anticipated an automatic validation of professional achievement as well as an improvement in their self-image upon becoming certified. The study also revealed that 84% of all the 493 respondents who were surveyed said that certification would enable them make improvements in patient care skills. Nurses with specialty certification tend to get respect and great admiration from their peers because of their expertise and advanced knowledge. Certification stimulates many nurses to stay up-to-date with knowledge and practice since they are often exposed to continuing education. Additionally, certification makes it easy for nurses to find opportunities for private practice, where they can take up career roles as expert witnesses or consultants (Tenney, Demoucell Wians, 1992) This research explores the perceptions that influence nurses into seeking specialty certification. The research delves into benefits of getting nursing certification with a view to find different perceived benefits and inherent, self-evident benefits. The main aim of this research, therefore, is to clarify the validity of different benefits of getting certified. Tenney, Demoucell and Wians (1992) lists five main different areas where benefits are achieved through specialty nursing certification: (a) to the individual nurse, (b) areas of specialty practice, (c) the nursing profession, (d) the nursing institution, and (e) the community. This research will explain the benefits of nursing in all these different areas, although the main emphasis will be on the benefits that accrue to the individual nurse, the main aim being to try and disentangle inherent benefits from mere perceptions. To the specialty practice, certification makes it easy for different levels of competence in the practice to be clearly drawn out and defiined. Through certification, the legitimacy a certain specialization is guaranteed. To the nursing profession, certification is a form of self-regulation. A nurse is recognized through the validity of his proficiency. A nurse who is certified in a certain areas is considered to have mastered a certain body of highly specialized knowledge, has adhered to certain established standards and has become competent in terms of practice and experience. The nursing institution, too, derives many benefits through certification, one of them being creation of a basis for hiring, promotions, wage increases, and provision of practice privileges. Certification is a good basis for third-party payment (Edari and Staff, 1979 cited in Tenney, Demoucell Wians, 1992). The community benefits through certification through improvement in quality in the care given to patients. For a nurse to become certified, he has to commit some time, money and energy into the certification process. There are exams to be taken, and this means drawing up study plans for several months that precede the exam. Demauro (2008) says that today, certifications are available for almost every nursing specialty such as the American Nursing Credentialing Center (ANCC) or Board of Certification for American Nurses). The ANCC certifies nurses in more than 20 different specialties. Certification, adds Demauro, is a good basis of getting a pay increase, whereby certified nurses according to national salary statistics, earn more compared to their uncertified colleagues with the same level of academic qualifications. According to Demauro (2008) many nurses are motivated to seek certification since it carries the same connotation regardless of where one works in the military, NGOs, private practice and so on. National salary surveys indicate that it becomes easy for certified nurses to get better-paying jobs that fall squarely along their chosen career paths. Buy custom Means of Empowering Nurses essay

Apollo 13 essays

Apollo 13 essays Can you remember back to the year 1970? This was the year the U.S. was supposed to make history by landing the first man on the moon. Two days after launch, while Apollo 13 was approaching the moon to begin lunar operations, something exploded on the ship. The crew had to overcome many life-threatening obstacles while on the trip back to earth. NASA discovered what caused the explosion on Apollo 13 after the crew was safe back on earth. The Apollo 13 capsule was launched atop a Saturn V rocket on April 11, 1970. During all spacecraft launches, launch controllers on the ground keep a close watch on the spacecrafts systems. The Apollo 13 astronauts faced a dangerous situation when an oxygen tank in the command and service module exploded two days after launch, but they were able to use oxygen reserves in the lunar module and returned safely to the earth. On April 11, 1970 the Apollo 13(piloted by A. Lovell Jr., John L. Swigert Jr., and Fred Wallace Haise Jr.) was launched into space on a trip to the moon. Two days after launch, while Apollo 13 was approaching the moon to begin lunar operations, something exploded on the ship that caused the service module of the CSM(control systems module) to lose its oxygen, electrical power, and other systems, including its ability to achieve an abort maneuver for a direct return to earth. The crew of three had to shut down the CSM and quickly moved to the LM. When they shut down the CSM the heaters were shut off, the capsule and the LM(lunar module) would get as cold as 32Â ° or below, the crew had to endure the cold temperatures for the next few days. During the trip around the moon and back to earth the crew had to overcome many life-threatening obstacles such as: near freezing temperatures, excess carbon dioxide in the LM, storing their urine, and re-entering earths atmosphere. The crew could not do anything about the near freezing temperatures. They overcame the lo ...

George Orwell's 1984 Research Paper Example | Topics and Well Written Essays - 2500 words

George Orwell's 1984 - Research Paper Example People are not allowed to speak freely—in the press or otherwise—because they are afraid of retribution. This is in direct contrast to the United States, where freedom of speech is built into the First Amendment of the Constitution, the founding document upon which U.S. ideals are based. Totalitarian governments don’t want people to think, live, or do anything without the government’s approval. For example, Communist China only allows one child per family. So, even the means of reproduction is controlled in that country, simply because it gives the government power over even peoples’ private sex lives. Not only this, but the government can claim that it is instituting such a law to have one child per family due to â€Å"the ecology† or some other such reason. This is not the true reason why leaders do not want the Chinese people empowered by having many children. China thinks that by controlling the fact that even these poor citizens of their own country cannot have intimate relations without worrying that the government might execute their child—puts them in a state of continual fear. This persistent fear that people would wake up to also include the fear that someone is watching them all the time who may have a higher place in the government than is originally known. That happens a lot in 1984. People are not whom they seem, and there are several shifting sands in this book, leading one to believe that one cannot always blindly accept the simple platitudes of what appears to be reality. Not only this, but Orwell warned against the dangers of giving leaders totalitarian power. One of the ways that this was achieved was that the so-called ‘winners’ in history would completely and most convincingly erase history. They would do this by incinerating any documents that would show proof of any kind of wrongdoing by the government. Thus, the government’s actions could only be analyzed through the na rrow view it had of itself—which was that it was basically a perfect entity, at least, according to its own records. This is the position in which poor Winston Smith finds himself. He works for the Ministry of Truth (Minitrue), and finds himself having the task of ‘revising’ history. What is interesting is that Winston starts realizing, as an Outer Party flunky, that the Inner Party is using him as a tool to help manipulate information control so that the top 2% can remain at the top. This reflects something similar which is going on at the Occupy Wall Street protests all over the globe and in riots in the UK, Africa, and the Middle East—people are realizing that their power comes from taking back their history, and seeing history as it really is and was as opposed to how it might be or should have been. This leads us to our next topic, which has to do with historical revisionism and its evils. III. The Deliberate Distortion of History The deliberate disto rtion of history is what Winston was in charge of doing. The novel 1984 depicts how detrimental history can be when it is written through the lens of the people who were on the winning side of

Salem Witch Trials Research Paper Example | Topics and Well Written Essays - 750 words

Salem Witch Trials - Research Paper Example The causes of Salem Witch Trials resides in why were the girls strangely behaving. According to the theory of Mary Beth Norton, the girls made the acquisitions and were behaving strangely because they were suffering from PTSD (post traumatic stress disorder) and this was because of wars that occurred between the Puritans and American Indians (Goss 2008, p.63). The first individual, Tituba who was accused of witchcraft was a American Indian and due to a grudge held by the puritans against the American Indians, she was accused as a practitioner of witchcraft. Another explanation of the strange behaviors of the girls was provided by Linnda R. Caporael, she asserts that those who were believed to experience strange behavior were experiencing ergotism, which is a disease due to eating of bread that has been contaminated with ergot (Hil 2009, p.257). Individuals suffering from this disease act strangely, for example: they may experience crawling sensation in their skin and even may experie nce headaches. These were the symptoms exhibited by those who were considered to be possessed. Events The issue experienced by Salem took off as two young girls went to a slave Tituba to get their future sweet hearts predicted. To predict the future Tituba used a trick in which a white egg is drowned in a water glass. While the trick was taking place, one of the two young females saw a coffin. After this event, both girls started exhibit strange behaviors such as hiding beneath chairs and using ridiculous words. The happening of these events were then noticed by the Reverend Parris and he asserted that these events were taking place as the girls were possessed by devils. The similar behaviors were exhibited by several young females and due to pressure applied by adults of that area, the girls accused that Tituba and other white women were practicing witchcraft on them. Due to this, the accused were shifted to a jail in region of Boston where Tibuta accepted that she was practicing w itchcraft. During the month of March similar behavior was exhibited by an adult and the number of accusations increased. During the three months of March, April and 50% of May the count of those accused increased and they were all shifted to jails. Later on June 2 special court proceedings took place after which on June 10th, Bridget Bishop was hanged to death and later on July 19th five more accused individuals were hanged and then on September 22nd, eight more of them were hanged (Goss 2008, p.181). Later the trails came to a stop under the order of Governor Phips as his own wife was recognized as a witch. Consequences The main consequences of the special court proceedings that took place as a result of accusations was the hanging and corporal punishment of several individuals who were completely innocent. Individuals who did not practice religion and visited churches were accused for livestock death and ill health that was spreading all over Salem. The second major consequence wa s the imprisonment of over 200 individuals along with those who were hanged to death for being accused of practicing witchcraft. These individuals were simply imprisoned on the basis of evidence that was spectral in nature. Property of these individuals was seized by the town and their families had to