Heart Disease Essays (4511 words) - RTT, Vascular Diseases

Heart Disease Chapter 1 INTRODUCTION In today's society, people are gaining medical knowledge at quite a fast pace. Treatments, cures, and vaccines for various diseases and disorders are being developed constantly, and yet, coronary heart disease remains the number one killer in the world. The media today concentrates intensely on drug and alcohol abuse, homicides, AIDS and so on. What a lot of people are not realizing is that coronary heart disease actually accounts for about 80% of all sudden deaths. In fact, the number of deaths from heart disease approximately equals to the number of deaths from cancer, accidents, chronic lung disease, pneumonia and influenza, and others, COMBINED. One of the symptoms of coronary heart disease is Angina pectoris or clogged arteries as it usually called unfortunately, a lot of people do not take it seriously, and thus not realizing that it may lead to other complications, and even death. THE HUMAN HEART In order to understand angina, one must know about our own heart. The human heart is a powerful muscle in the body which is worked the hardest. A double pump system, the heart consists of two pumps side by side, which pump blood to all parts of the body. Its steady beating maintains the flow of blood through the body day and night, year after year, non-stop from birth until death. The heart is a hollow, muscular organ slightly bigger than a person's clenched fist. It is located in the center of the chest, under the breastbone above the sternum, but it is slanted slightly to the left, giving people the impression that their heart is on the left side of their chest. The heart is divided into two halves, which are further divided into four chambers: the left atrium and ventricle, and the right atrium and ventricle. Each chamber on one side is separated from the other by a valve, and it is the closure of these valves that produce the lubb-dubb sound so familiar to us. Like any other organs in our body, the heart needs a supply of blood and oxygen, and coronary arteries supply them. There are two main coronary arteries, the left coronary artery, and the right coronary artery. They branch off the main artery of the body, the aorta. The right coronary artery circles the right side and goes to the back of the heart. The left coronary artery further divides into the left circumflex and the left anterior descending artery. These two left arteries feed the front and the left side of the heart. The division of the left coronary artery is the reason why doctors usually refer to three main coronary arteries. SYMPTOMS OF CORONARY HEART DISEASE There are three main symptoms of coronary heart disease: Heart Attack, Sudden Death, and Angina. Heart Attack Heart attack occurs when a blood clot suddenly and completely blocks a diseased coronary artery, resulting in the death of the heart muscle cells supplied by that artery. Coronary and Coronary Thrombosis are terms that can refer to a heart attack. Another term, Acute myocardial infarction, means death of heart muscle due to an inadequate blood supply. Sudden Death Sudden death occurs due to cardiac arrest. Cardiac arrest may be the first symptom of coronary artery disease and may occur without any symptoms or warning signs. Other causes of sudden deaths include drowning, suffocation, electrocution, drug overdose, trauma (such as automobile accidents), and stroke. Drowning, suffocation, and drug overdose usually cause respiratory arrest which in turn cause cardiac arrest. Trauma may cause sudden death by severe injury to the heart or brain, or by severe blood loss. Stroke causes damage to the brain which can cause respiratory arrest and/or cardiac arrest. Angina People with coronary artery disease, whether or not they have had a heart attack, may experience intermittent chest pain, pressure, or discomforts. This situation is known as angina pectoris. It occurs when the narrowing of the coronary arteries temporarily prevents an adequate supply of blood and oxygen to meet the demands of working heart muscles. Chapter 2 ANGINA PECTORIS Angina Pectoris (from angina meaning strangling, and pectoris meaning breast) is commonly known simply as angina and means pain in the chest. The term angina was first used during a lecture in 1768 by Dr. William Heberden. The word was not

Free Essays on Kfc Situation Analysis

I. Situation Analysis Kentucky Fried Chicken was one of the first fast-food chains to go international in the 1950’s and has remained a strong competitor in the industry. By 2000, KFC had become the third largest chain in the world with 11,000 locations in 85 countries. Even though the ownership of the corporation has changed hands many times over the past few decades, the values that Colonel Sanders lived by are still alive and functioning today. Some of these essential values are product quality, service, and restaurant cleanliness. The strategies utilized by KFC and its management appear to be quite effective. In 1999, KFC was ranked number six in the top 50 fast-food restaurants in the United States with sales exceeding 4.3 million dollars. They were number one in the chicken chain category with a substantial market share of 55.2%. Their sales grew at a steady rate of 4%. The competitors had growth rates that doubled and almost tripled the rate of KFC, but these rates were not sufficient to threaten KFC’S vast holding in the market which allows them to remain strong and stable for the time being. Kentucky Fried Chicken encountered many issues over time. The strict reliance on values of company owned stores was quite important but franchising stores was much more cost-effective. The American market was becoming saturated with fast-food establishments and real estate was difficult to locate and quite costly, so the need to expand on an international level became a necessity. By 2000, Tricon Global Restaurants, which consists of KFC, Taco Bell, and Pizza Hut, had close to 30,000 international locations. Over the years competition in the chicken chain category has grown enormously. Companies like Boston Market and Chic-Fil-A catered to those who preferred a healthier version of chicken. Even though growth in this market has been rapid, it has not greatly affected the sales of KFC. It appears as though customers flocking to ... Free Essays on Kfc Situation Analysis Free Essays on Kfc Situation Analysis I. Situation Analysis Kentucky Fried Chicken was one of the first fast-food chains to go international in the 1950’s and has remained a strong competitor in the industry. By 2000, KFC had become the third largest chain in the world with 11,000 locations in 85 countries. Even though the ownership of the corporation has changed hands many times over the past few decades, the values that Colonel Sanders lived by are still alive and functioning today. Some of these essential values are product quality, service, and restaurant cleanliness. The strategies utilized by KFC and its management appear to be quite effective. In 1999, KFC was ranked number six in the top 50 fast-food restaurants in the United States with sales exceeding 4.3 million dollars. They were number one in the chicken chain category with a substantial market share of 55.2%. Their sales grew at a steady rate of 4%. The competitors had growth rates that doubled and almost tripled the rate of KFC, but these rates were not sufficient to threaten KFC’S vast holding in the market which allows them to remain strong and stable for the time being. Kentucky Fried Chicken encountered many issues over time. The strict reliance on values of company owned stores was quite important but franchising stores was much more cost-effective. The American market was becoming saturated with fast-food establishments and real estate was difficult to locate and quite costly, so the need to expand on an international level became a necessity. By 2000, Tricon Global Restaurants, which consists of KFC, Taco Bell, and Pizza Hut, had close to 30,000 international locations. Over the years competition in the chicken chain category has grown enormously. Companies like Boston Market and Chic-Fil-A catered to those who preferred a healthier version of chicken. Even though growth in this market has been rapid, it has not greatly affected the sales of KFC. It appears as though customers flocking to ...

How Can Social Media Sites Be Used To Improve Knowledge Sharing, Build Essay

How Can Social Media Sites Be Used To Improve Knowledge Sharing, Build Social Capital, Support Innovation, And Aid Problem Solving In Multinational Corporations - Essay Example The use of Twitter for professional enhancement is well established now. The educational philosophy of constructivism offers a strong rationale for greater social media integration within the organization. These days, just as the sweep and reach of social media has increased, so have the niche media spaces that facilitate the interaction. Hence, beyond the prominent household names of Facebook, Twitter and LinkedIn, we now have other specialized avenues for interaction like wiki portals and Youtube repositories of learning videos. In today’s competitive business environment, it is imperative for mutli-national companies to adopt social media strategies for external and internal communication. Social media sites like Facebook, Twitter, LinkedIn, etc can be useful allies for managers in promoting knowledge sharing and team building. If applied selectively and appropriately, these media facilities can be sources of innovation and problem solving within the business corporation. T he term ‘social media’ is a bit misleading and off-putting for managers, as it sounds as an avenue for recreation and time-pass. But when one understands the full scope of possible activities that could be carried out through these sites its utility for managers becomes clear. Another positive aspect of social media sites is their malleability/customizability to specific organizational purposes and goals. Beyond the prominent sites like Twitter, Facebook and LinkedIn, there are a host of more specialized sites for sharing pictures or bookmarks or applications have cropped up. There are also niche professional blogs and wikis which are seeing steady increase in patronage. (Zielinski, 2012) The objective of this essay is to argue in affirmation of the positive role of social media to improve knowledge sharing, build social capital, support innovation and aid problem solving in multinational corporations. Social media as a tool for innovation and research: A key area where social media sites differ from conventional sites is the content. The former generate their own content, â€Å"collaboratively creating, editing, sharing, tagging, and organizing information, reshaping the contributions of others and engaging in peer-to-peer discussion. These are emergent technologies, meaning that structure and content and even application emerge with use, from the needs and activities of the users.† ("The Revolution Will Be," 2011) And it is in this feature of dynamic and contemporaneous content that best suits knowledge sharing exercises. This feature is as well suited to the organizational task of building social capital. Management thinker James Surowiecki has argued in his book, The Wisdom of Crowds, that by tapping the power of social media and in creating goal-specific discussion forums etc, substantial social capital can be built. In forums such as these, people from diverse backgrounds and opinions can bring to table â€Å"shrewd judgments and cre ative solutions†. The management can play a constructive role in this process by setting up apt mechanisms to collect and assimilate feedbacks, inputs and opinions. Surowiecki’s concept is closely aligned with that of ‘crowd-sourcing’, which is an emerging model of employee participation in the creative processes of business development. And social media outlets have been the backbone of prominent examples of crowd-sourcing. ("The Revolution Will Be," 2011) For a company to excel in innovation, it must allow employees a convenient and

Research paper Example | Topics and Well Written Essays - 1500 words

Research Paper Example Consequently, the innocent young girl encounters an enormous wolf in the woods in the process of delivering food to her grandmother. Thus, the young girl innocently informs the wolf of her destination. The wolf then goes ahead and swallows the girl’s grandmother. Unsatisfied, the evil wolf decides to wait for the young girl in the pretense of her grandmother. However, upon arrival the young girl notices some strange behaviors concerning her grandmother. First, her voice was extremely deep. In addition, her eyes and hands were also immensely enormous. Moreover, her mouth was also enormous. However, before the little girl could unravel the happenings the wolf pounced on her and swallowed her (Zipes 4). With his tummy full, the wolf fell into a deep sleep. However, in his deep sleep a stranger comes to the rescue of the duo. He cuts the wolf’s belly open with a saw to the delight of Little Red Riding Hood and her grandmother who emerge from the wolf’s belly unscathe d. Therefore, in order to teach the evil wolf a lesson the trio fills its belly with stones. Eventually, when the wolf wakes up he decides to run away, however, the stones weigh him down. Consequently, he collapses and dies. Therefore, it is clear that the tale attempts to outline the dangers of the enormous forest. In comparison with forest, the village offers a safe home as opposed to the former. Therefore, the tale was aimed at checking little children from engaging in dangerous practices since they could end up being harmed. COMPARISON WITH OTHER TALES Other tales such as Peter and the Wolf or The Wolf and the Seven Young Kids also employ a similar thematic footing. In both cases, the tales paint a thematic scenario in which an individual emerges unscathed from the belly of an evil wolf. As such, this thematic setting has been embraced by other numerous tales (Meidell 175). This overwhelming semblance to other fairy tales can be attributed to the origin of the tale reason being that the tale embraces a medieval bias that was popular in the ancient times. This similarity can also be associated with the moral lessons learnt from the tale. HISTORY OF LITTLE RED RIDING HOOD TALE Little Red Riding Hood has its origin rooted in various versions of the story in Europe. Consequently, its original versions date back to the 17th century (Iona and Peter 93). However, the tale was also told in both Italy and France in the fourteenth century. Consequently, this version was referred to as The False Grandmother. Therefore, this implies that the title of the tale varied from one region to another. As such, the original versions significantly differ from the present day versions (Tatar 17). For instance, the antagonist of the story needs not necessarily be a wolf. This implies that in other versions of the tale the antagonist is presented as a different character. For instance, an ogre is employed as an antagonist instead of a wolf. Other manuscripts also depict the antago nist in the form of a dragon. Nevertheless, the antagonist is depicted as a wolf in most cases. Since the tale is mainly meant for young audiences, the depiction of the antagonist as a wolf enables the audiences to easily associate and relate with the tale while appreciating its message. Consequently, depiction of the antagonist as an ogre may be effective for African audiences. However, in all these versions, the antagonist is depicted as an enormous and dangerous being. Moreover, the antagonist is

Week 6 Coursework Example | Topics and Well Written Essays - 750 words

Week 6 - Coursework Example Therefore, most businesses have to accept the existing preordained competition, by developing some unique measures of overcoming it. Organizations have to react by increasing the competition through cutting the price of their products, refining the quality of their products to fit clients preferences, use of new technology to overwhelm the rapid changes in quality and quality in productions. HTC is one of the enterprises that realize competition is growing everyday. The corporation, as a result, decided not to underrate the potential competition coming from different parts of the world. For that reason, HTC strived to provide unique and distinguished quality products through enhancing a creative and innovative environment. The corporation has successful fashioned a tranquil environment that is auspicious in endorsing creativity of it is employees through initiating the â€Å"magic labs† (Robbins, & Coulter, 2010). The personnel are encouraged to work on their own ideas which enable their imagination to turn into innovation. The corporation also has promoted creativity and innovation by studying the change of clients’ preferences. There is a resilient connection between workers happiness and creativity in the workplace. The level of creativity improves when employees are happier. Happy employees are optimistic and work in solidarity, thus strengthening crea tivity through sharing of knowledge; hence promoting inventiveness. Employees’ happiness is of prodigious significant in the workplace as it emboldens staff to be more productivity and high job performance. Happiness among employees remains imperative for they are 25% more effective and well-organized than the unhappy staff thus happy staff endorses high job performance and great productive. Happy workers are also 47% industrious than unhappy staff, as happy staff work in team-spirit and in a more optimistic way thus creating a favorable avenue for sharing concepts

Social Media In The Hospitality Industry

Social Media In The Hospitality Industry Armstrong and Kotler state the internet is revolutionising the way we think about à ¢Ã¢â€š ¬Ã‚ ¦ how to construct relationships with suppliers and customers, how to create value for, and how to make money in the process; in other words revolutionising marketing. This has led to a significant shift over the last couple of years from using traditional sources such as newspapers, television, radios and leaflets. (Thevenot, 2007, Young, 2007, Cheung et al. 2008 and Field 2008) note that word of mouth marketing is the most powerful promotional tool, with Social Media just finger tips away; this makes it even more crucial for businesses to recognise and acknowledge it. It has been defined as a second generation of Web development and design that aims to facilitate communication, secures information sharing, interoperability, and collaboration on the World Wide Web (Paris et al. 2010: 531). This essay seeks to critically explore the issues and benefits associated with the use of Social Media. The application of Social Media has developed the way organisations communicate with their guests, since it was introduced in the early 90s society towards a new era. It has evolved from being a tool that was used by the public to connect with old and new friends to giving businesses and consumers the opportunity to have a two way conversation (Lim et al.2012). Additionally Social Media enables organisations to promote their brand and connect with their customers on a more intimate level (Ragone, 2012 and Wilson et al. 2012). Over the last few years the use of Social Media has increased, with many social networking sites such as Facebook, Twitter, LinkedIn and Googleplus emerging). Research undertaken by Burson-Marsteller (2009) who are a globally recognised Public Relations company, discovered companies who made the most profit in Fortune magazine were registered with three networking sites these included Twitter, Facebook and Blogs. 54% of the businesses joined and used Twitter, 32 % had blogs and 29% had a Facebook page. The report went on to show that 94% of the organisations used their Twitter to keep consumers updated. Additionally 67% were using Twitter to deal with customers inquiries or queries. Wigder et al. (2010) reported the growth of Social Media from 2005 to 2009 grew from 1 billion to 1.6 billion, similarly it is expected to increase by 42% by the end of 2012. Social Media has made such a significant impact on the hospitality industry. The most important and possibly damaging Social Media sites to the hospitality industry are Trip Advisor, Yelp and Booking.com, they are on the increase as they have been seen to gain substantial popularity with potential travellers (Xiang and Gretzel 2010). According to Pantelidis (2010) tourists are more willing to put their faith in the reviews written by other travellers compared to those by professional reviewers such as the AA (Automobile Association). Sparks and Browning (2011) say customers want information that is easy to process, which is why they look to Social Media, they also believe by reading peer reviews they are more likely to get accurate information. Therefore the demand for Social Media is growing fast and it is important for businesses that want to survive to adapt and to get their name and brand out there, with the recent economic problems that the world has been facing any opportunity to win over the competitors should be taken (Gretzel et al. 2007 and Fraser, 2010). The explosion of this application brought many opportunities as well as challenges and issues. Saunders and Graham (1992) believe as guests are directly involved in the service process; it brings uncertainty in the delivery process .For that reason its difficult knowing what the customer regards as high and acceptable standards. Standards may also be determined by how a guest feels emotionally rather than how the organisation has delivered the service. A guest might go into a hotel today and be ecstatic with the service that the organisation has provided whereas two weeks later they may go in again but emerge feeling disappointed despite receiving the same level of service. They may go on Social Media voice out their frustrations at the hotel. Saunders and Graham (1992:246) state Focus on the customer is very much a part of the provision of a service. Seeing as service is intangible it is difficult to determine what each individual considers acceptable, naturally all the consumer can rely on is their feelings towards the experience. As a result it makes quality harder to define and varies from each customer to the next. Service is not something you can store; it is measured immediately by the recipient. Under these circumstances any measurement taken is thus too late to avoid a failure in contact with the customer (Saunders and Graham, 1992: 246). Although these theories were identified years ago they still apply to the hospitality industry today. Another challenge which Social Media has presented is there is no way to verify who is making reviews or comments. As a result disgruntled employees could go on Social Media to write negative reviews. Parkes (2011) claimed Trip Advisor is being used to blackmail hoteliers by guests to get special discounts or complimentary upgrades. An investigation carried out by Kenber (2011) discovered 80 hotel owners had complained about guests blackmailing them with negative Trip Advisor reviews. Allegedly the guests had threatened to give them one star reviews if they did not comply with their demands. Some of the requests consisted of half price rooms and meals and compensation for false food poisoning. Trip Advisor has since responded by saying that hotels that have been victims of these threats should contact them. A program which was aired on Channel 4 Attack of Trip Advisors (2011) showed how negative comments affected the hospitality organisations. With some having claimed a loss of busin ess and tainted reputations. However Trip Advisor said both parties are given a chance to comment and address the reviews to the sites visitors and reviewers and have the last say. The most important issue the hoteliers failed to understand was how guests do not complain during their experience and then write bad reviews on Social Media sites such as Trip Advisor (Parkes, 2011). A further issue that was identified by Ragone (2012) is that some hoteliers believe Social Media is and should be used only in the technology or sale areas. Whereas, they are supposed to combine the two in order to maximise its potential. If used correctly and effectively Social Media can bring in many benefits for the organisation. An important benefit which organisations capitalise on is; it is free advertising (Thomas, 2009). Large chains such as Hilton Hotels, Marriot International, Four Seasons and Starwood Hotels have welcomed both Twitter and Facebook with each of them having over 100,000 likes on Facebook and over 50,000 followers on Twitter. A number of brands such as Sheraton have started to incorporate Facebook into their websites. So whenever a guest makes a post on either one it can be seen on the other (Kwok and Yu, 2012).Others such as Marriot have taken a slightly different approach, they invited a number of celebrities and journalists to their newly refurbished properties in 2010, to start a Twitter campaign and share their thoughts with their followers live on the property (Ehotelier, 2010 and Kwok and Yu, 2012). As far as Social Media is concerned it is essential for hospitality businesses to have s imilar initiatives such as those practiced by the two hotels mentioned above. On the other hand it is important for businesses to realise that even if they choose not to participate or use Social Media, customers can always comment and review the hotel or restaurant (Sparks and Browning, 2011). It has become common practice now for many hospitality businesses to feed information from other Social Media sites to their Facebook page (Thevenot, 2007). Accor have a link on their website which leads guest to trip advisor so that they can have a look at previous guests comments. This gives former guests and potential travellers the opportunities to share and like reviews and messages (Fraser, 2010 and Kwok and Yu, 2012). A study done by Nielsenwire (2012) showed that the public devotes 20% of their day to social networking sites such as Facebook, Twitter and linkedIn. Social Media is a mixture of fact and opinion, impression and sentiment, founded and unfounded titbits, experiences, and even rumor (Blackshaw and Nazzaro, 2006: 4).so it important for businesses that use Social Media to be able to deal with and clarify both the positive and negative feedback they may receive from guests. If the feedback is not dealt with this could lead to the organisation damaging their own reputation (Field, 2008). According to Verma et al. (2012) the hospitality industry is aware of the impact Social Media has on its potential guests. Research done by (Kwok and Yu 2012) has shown that many hospitality businesses are trying to find a balance between responding to their guests on Social Media and adhering to the International Ratings organisations. Hospitality businesses have adjusted and made changes to their business models in order to accommodate and make the most of Social Media. Mobile applications have also had an impact on the way consumers search and plan their holidays. Both of these factors have led to a change in the way businesses look and communicate with customers, as they are treated more like an active stakeholder (Sigala et al. 2012). Majority of the businesses that have welcomed Social Media, actually encourage their guests to use Trip Advisor, as they like to think of it as a marketing and promotion tool in which they can gain loyal consumers. Similarly some like to take advan tage of this opportunity as a way to gather feedback in order for them to improve their services (Verma et al. 2012). As a result they could they are able to overcome challenges and solve their problems more efficiently. The businesses that have had success when using Social Media are those that have been open and encouraged their guests to comment. Litvin and Hoffman (2012) suggest it is crucial for hospitality businesses to encourage guests to comment as it shows that they are honest and open. They go on to suggest ways for businesses to promote Social Media to their guests. The first is having a sign which reads If you have enjoyed your stay please let others know by sharing your thoughts on Trip Advisor similarly they propose printing it on the receipt when guests are checking out or when they are leaving the restaurant. Obviously there is no guarantee that it will encourage a customer to write a good review because whenever a customer is involved there is always an element of u ncertainty. However when loyal consumers are encouraged to comment they can counter negative comments, and will have a positive influence on the potential travellers (Litvin and Hoffman, 2012). They later pointed out the significance for management to get involved by responding to the negative reviews. With Social Media becoming more mobile this has enabled guests to be able to record videos and take pictures which they can Post on their Social Media sites (Wilson et al. 2012 and Verma et al. 2012). It has also been established that hospitality marketers need to realise creating customer value and satisfaction are at the heart of the hospitality and travel industry (Dev et al. 2010:460). In addition they believe for hospitality businesses to be a success they need to inform and make sure profit maximisation is part of the roles and responsibilities for the revenue manager. McKenna (2012) claims there are a number of procedures being introduced to stop false reviews and to name those involved and the organisations that have paid them or encouraged them. Yelp is a site similar to Trip Advisor but is used more in the USA; it has developed a tool to alerts people that a review is believed to be false. Trip Advisor is also thought to be considering introducing a similar system. To conclude Social Media has become the centre of hospitality businesses Internet marketing strategy, many hospitality businesses especially the well-known brands have perceived and realised its potential and are maximising it when marketing their business. Since its inception it has developed interest in both consumers and businesses. The issues and challenges brought by this application have made it essential for hospitality businesses to understand and embrace customer feedback. As discussed earlier consumers consider peer reviews more important in making purchasing decisions. The only way businesses can use it as a successful tool is by making sure they listen to their guests and respond quickly and efficiently. Social Media if used properly can generate some profit for any organisations. To put it more simply consumers want to be kept up to date about what is going on in the businesses; they are able to do that by using Social Media as its free and easily accessible. The issues that have been identified above such as perishability and lack of control; are not easy to manage for hospitality organisations all they can do is make sure quality and high standards are maintained. Verification is also an issue that will need to be dealt with by the Social Media websites; this is an on-going problem that could cost hospitality businesses large amounts of money and their reputation. No one has come up with any solutions addressing the issues of fake reviews, they can only take responsibility and if needs be investigate the claims that consumers have made, to ensure it does not happen again. It is also very important for organisations to respond, apologise and acknowledge when they are at fault and find ways to compensate the guest

Pablo Picassos Bequest of Gertrude Essay -- Essays Papers

Pablo Picassos Bequest of Gertrude Pablo Picasso was a very famous artist in his time. I have always found his work very interesting and unique. He has a style all his own and, I believe that this was what made him so famous and at the same time controversial. The painting I have chosen is called â€Å"Gertrude†. Pablo Picasso was born in Spain to Jose Ruiz and Maria Picasso. He later adopted his mother’s more distinguished maiden name Picasso. Picasso was a child prodigy who was recognized as such by his art-teacher father who ably led him along. Picasso was taught for a few years and after he attended the Academy of fine art in Curna Spain where his father taught. Picasso’s early drawings such as, Study of A Torso, After A Plaster Cast (1894-1895 Musee Picasso, Paris, France) demonstrates the high level of technical proficiency he had accomplished by the age of 14 years old. (Encarta 2000) Picasso’s artwork is classified as modern art witch started in the early 1880’s to the mid 1970’s. In 1885 his family moved to Barcelona, Spain after his father obtained a teaching post at that city’s academy of fine Arts. Picasso was admitted to advanced classes in the academy after he completed in a single day the entrance examination that applicants were traditionally given a month to complete. In 1897 Picasso left Barcelona to further his study at the San Fernando academy in Madrid witch was located in the Spanish capital. His academic studies did not last long in Madrid. He was unhappy with the training he was receiving and he left and returned back to his home in Barcelona Spain. Picasso visited Paris some time around the early 1900’s. After that visit he decided that he would move back and fourth between Spain and Paris. He did this until 1904 when he finally settled down in the French capital. At this time Picasso started to explore and experiment with different art styles that were modern. This portion of his life is called the blue period. This was because of the blue tones Picasso’s paintings had. During the year of 1905 to 1906 a radical change took place in Picasso’s style of painting once again. His choice of colors and mood were evident in this period of his life. He used subtle pinks and grays that were often highlighted by brighter tones. This was tone as his rose period. (Rodenbeck, Compton's, Joseph) Along w... ...of them include the Tragedy 1903, Girl Reading at the Table 1834, Crucifixion 1934, Dorra Maar 1937 and so many others. Picasso had a very unique sense of style. His willingness and open exploration to try new and different things made him a great artist in his time. He had many talents, he not only painted but, he was a sculptor, he did drawings, he worked with ceramics and he was also a poet which no one really new about. This is only a small glimpse at this artist diverse life and career as an artist. Picasso has contributed a lot to modern art. He has done so much and we have the privilege of being able to see his work displayed in museums. Bibliography Compton’s Encyclopedia 2000 Eakin, Hugh. (Nov. 2000) Picasso’s Party Line. Art News V. 99 no. 10 p. 186-90 Encarta Encyclopedia 2000 Hall, James. (Winter 2000), Picasso As A Sculptor. Modern Painters v. 13 no4 p. 48-50 Joseph, Daniel. (Jan 2001), â€Å"Picasso: figures and portraits†: Kunstforum Wien. Art News v. 100 no1 p. 160. Rodenbeck, Judith, Fall 1993 â€Å"Insistent Presence In Picasso’s Portrait of Gertrude Stein† Columbia University http://www.showgate.com/tots/Picasso/piclink.html

Salinas V. Texas Essay

Facts: Two brothers were shot and killed in their home. Police recovered shotgun shells that led them to investigate the petitioner. The petitioner handed over his gun and agreed to go to the police station for questioning. The petitioner answered all of the questions the police had, but when it came to the question about the shells matching the petitioner’s gun he went silent. So the police asked a few more questions to which the petitioner answered. The petitioner did not testify at the trial, so the prosecutor used his silence as evidence of guilt. Procedural History: Petitioner was convicted of murder and sentenced to 20 years. This was directly sent to the Texas State Court of Appeals who rejected the argument. The Texas Court of Criminal Appeals took up the case and affirmed the same judgment. Issue: Was the petitioner’s Fifth Amendment right violated when prosecutor’s used his silence as evidence of guilt, when he was not in custody and had not had his Miranda rights read to him? Holding/Rule: No, because the petitioner did not express that he wanted to invoke his privilege to stay silent, and not testify. Reasoning: Neither of the two recognized exceptions to the invocation requirement applies here. One is that a petitioner is not required to take the stand and assert the privilege against self-incrimination at his own trial. The other is that a witness’ failure to invoke the privilege may be excuse where government coercion made his forfeiture of the privilege involuntary. It is undisputed the petitioner’s interview with the police was voluntary. He admitted that he was free to leave at any time, so nothing prevented him from saying he refused to answer the police’s questions. The third exception was not even considered, because the requirement for this one would be the witness would remain silent and decline to give an answer that the officers  would suspect incriminating.

The impact of the recession on the value of oil and gas companies in the UK The WritePass Journal

The impact of the recession on the value of oil and gas companies in the UK Introduction The impact of the recession on the value of oil and gas companies in the UK IntroductionStatement of ProblemResearch QuestionsResearch ObjectivesContribution – Significance of the Objectives and the Expected OutcomeBrief Literature ReviewThe Efficient Market HypothesisCapital Asset Pricing Model and share betas  The Dividend Valuation ModelRecession and its effect on the UK Oil and Gas IndustryResearch MethodologyResearch MethodMethod of Analysis and FindingsForm of presentationTimetable of Activities (Gantt chart).ReferencesBooksInternetRelated Introduction Recession has existed as long as man and in the past it could be consolidated to one region. Nowadays, recession has become a global concern because once a region is affected; it can easily spread across the global economy. The world has faced some serious economic break downs over the past centuries some of which include; the stock market bubble in 1850, the 1929 Wall Street crash, the 1974 crash, the 1987 crash; called black Monday, the dotcom bubble of March 2000, the 9/11 attack in America and the most recent financial crisis caused by the subprime mortgages in the US. Recession has a lot of effects on an economy as well as the industries engaged in trade in the economy. During a recession most companies lose value and this has a lot of effects on stakeholders; that is, employees and shareholders. The recent financial crisis caused firms to loss over 40% of their share value and had tremendous effects on major economies like Japan, China and the UK. The Oil and Gas Industry has also been affected by recession over the last decade. In August 2005, the price of oil was $60 per barrel and by July 2008 it had reached $147 per barrel as result of the recession brought about by the financial crisis. However, various theories have been developed to understand what determines the true value of a company. Some of these theories include the dividend valuation model, capital asset pricing model (CAPM) Statement of Problem Most studies have indicated a strong link between the share prices of a company, its earnings and its beta. This research is aimed at investigating whether recession has a positive or negative effect on the value of companies in the UK with the case being the oil and gas industry. While future earnings and share betas are increasingly becoming popular in determining share prices,   current earnings are   being used as a bench mark for share prices rise and fall or a better indicator for takeover. The relative importance of   each of these indicators in predicting share prices or company value is still unknown, because sometimes investors use different  methods  at  different  times in calculating or estimating company value. Research Questions As a perfect guide and means of getting a good direction throughout this research, I intend to answer the following questions in this research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What determines the value of a company?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   How does recession affect oil and gas companies?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Do post recession values of the company’s share price depend on the recession?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What are the effects of recession on the global economy?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What will be the necessary steps taken to prevent such a huge impact on the oil and gas industry in the future? Research Objectives The main aim of this research is to investigate the impact of the recent recession trends on the value of oil and gas industry in theUK, its effects on the economy, as well as challenges faced by oil and gas companies to maintain their value. This research also seeks to identify if the prices quoted by oil and gas companies in the stock exchange market reflect their true value. Therefore, my objectives are to:-   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Investigate the major determinants of the value of a company.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Investigate the effects of recession on the price of a share.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To identify whether current earnings, future earnings, and share betas are of importance to a prospective investor.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Analyse the effects of recession on the global economy.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Analyse the effects of recession on oil and gas companies in theUK.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Recommend solutions based on this research and other findings to prevent such a huge impact in future. Contribution – Significance of the Objectives and the Expected Outcome From my previous experience in the financial sector and now undertaking a financial orientation course, this research is going to ease my understanding of the stock exchange market, how it functions and how public information affects the prices of shares in the stock exchange. This research will also help in exploring the various techniques used in company value evaluation which will aid top level management in identify the most powerful indicators and enable them shape their share prices with better accuracies. During recession the beta or risk of a share is higher hence this research will also explain how relevant the beta of a share affects its price. Brief Literature Review Up to this date no theory has been developed to explain the movement of share prices in the stock exchange market. This has made it very difficult for prospective shareholders not to easily predict prices for shares for buying and selling purposes. Bodie et al, (2002) argued that any information that could be used in predicting stock price must have been reflected in share price; hence only new information into the market can influence the upward and downward movement of prices of shares. Share prices are always characterised with their unpredictable nature, this is because the prices of shares usually move with respect to the information that enters the market. If the information is positive, there will be an upward movement in the prices of shares and if the information is negative, there will be a downward movement in the prices of shares. This negative information is common during recession which will be the primary focus of this study. The idea that share prices already reflect all relevant information leads us to the efficient market hypothesis. The Efficient Market Hypothesis Lumby and Jones (2003) stated that a stock market is said to be efficient if the market price of a company’s shares rapidly and correctly reflects all relevant information as it becomes available. In this regard, if all information turns out to be entirely reliable and complete, share prices could be relied upon to correctly reflect the true economic worth of the shares. In such a market overvalued or undervalued shares would not exist. To say share prices reflect the true economic worth of a company is an overstatement because share prices are a function of future expectations which   deals with uncertainty; hence share prices reflect all relevant available information. The efficiency of the stock market in pricing securities is one of the fundamental questions researchers often ask. The objective of an investor dealing with stock market is to identify mispriced shares. Purchase undervalued shares before the price rises and sell overvalued securities before the price falls. There are three basic analysis investors use to identify mispriced securities; Technical analysis, fundamental analysis and insider information. Technical analysis: Analyst study share price movements with the intention of discovering a pattern in movements. Once this pattern is identified for a particular company and if they see one of these patterns starting to develop, they believe they are then able to predict the shares future course of movements and so give either buy or sell investments advice. The fundamental analyst: A variety of information is a analysed with the use of share valuation models to determine the value of a share. Comparing between the actual worth of the share with the market price is the objective here. If the worth is more than the market price of the share, then the share is undervalued and hence a buy advice and conversely a sell advice if the share is overvalued. Insider information: All investors are looking for information insight and connections which they believe are not yet fully reflected in the market price. Although this theory recognizes the importance of information in shaping share prices, it fails to indicate which among these indicators have a powerful influence over share prices. Capital Asset Pricing Model and share betas According to CAPM, the price of a share is related to the risk of holding the asset. At a relatively high risk, investors will be expecting higher returns and as such will bid dawn the share price. This is based on the assumptions that the investor is holding a well diversified portfolio and as such the unsystematic risk have all been diversified .Therefore, the return expected is   compensation for the market risk, this means that, the expected return from an investment in share is equal to risk-free return plus risk premium ( Risk premium being the market price of systematic risk). Formulated by Sharp in 1964, he argued that creating portfolio reduces company’s risk. He divided the risk into two categories namely the systematic or market risk or the unsystematic or diversifiable risk Unsystematic risk: This risk is associated with specific factors affecting the company such as the quality of management, advertisement, research and development. According to Sharp, the systematic risk decrease as the number of investments in a portfolio increases. A rational investor should hold an efficient portfolio whereby all the unsystematic risk have been diversified away. The systematic risk: This is called the market risk. It can be defined as the extent to which a company’s   cash flow is affected by general economic factors such as inflation, interest rate, exchange rates. When there is a recession there is going to be a general fall in the share prices of all the companies. The rate at which company’s share price is affected depends on the risk associated with that particular company. This risk factor is called betas Share Betas   is the relationship between the systematic risk of company and the overall risk of stock market (market risk). It therefore   measures the degree of responsiveness of the expected return of the share relative to the expected return of the market. For example if expected return of the market falls and rises, that of the company will fall and rise in proportion of its beta. It therefore measures the degree of variability of company’s return in relation to the expected market return. Although this model has been criticized because of numerous unrealistic assumptions that question its predictive powers, the model can be credited for providing financial managers with a suitable project discount rate.   The model concludes by saying the greater the share beta the higher the risk associated with that asset and hence investors are expecting a higher return from the share. The result is the share price will fall or better still the higher the beta the higher the discount rate and hence share price falls. The weaknesses of CAPM let to the introduction of the Three Facto Model by Fama and French and in 1976 Stephen Ross developed the Arbitrage Pricing Theory which completely transformed the single Facto CAPM   to a multi Facto Beta Model.   The Dividend Valuation Model According to the model share prices are only determine by expected future level of dividends and the systematic risk of future dividend flows. It can be expressed as .   Where, PE is price of share, D is dividend payout, and   is cost of equity. The model assumes that future expected dividend flow will remain at a constant level for all future time period ( a level in perpetuity). Although some companies have been observed to have an approximated constant dividend per share over a longtime, in practice most company’s dividend per share are subject to changes over time. This has let to a more realistic version of the model which explains the growth of dividends at a constant rate. It can be expressed as   . Where, PE is share price, Ke is cost of equity and g is growth rate.this model   has been criticized for not providing information about share price when companies retain all or a greater proportion of earnings. Recession and its effect on the UK Oil and Gas Industry A recession is characterised with falling property prices, rising cost and personal debt and those mostly affected by it will those with low incomes. Standards of living will also fall as a result of recession and low income families will have no other option other than reducing the amount spent on basic goods and fundamentals. Estimates show that September’s 16 year high in the rate of inflation will add  £3 billion to the UK’s welfare bill. Those who will be greatly affected will include the elderly and the disabled who live on a poor diet and inadequately heated homes (Research Summary, 2008) At the level of the stock market, investments that demand on a buoyant stock market will become increasingly devalued, a trend that may be exuberated by rising inflation. Those at risk here will include those that rely on work place pensions to sustain them through retirement and endowment policy holders who may find themselves unable to cover the value of the loan at the end of the mortgage term. Recession also comes with a lot of social ills such as more crime, violence, and anti-social behavior. At the educational sector, recession has neither been friendly. It has affected the willingness and ability of some students to study, for instance, in order to bail the economy out of the recent recession, the government has decided to increase the school fees of students by almost triple the previous amount causing more difficulties for parents to send children to school. However, some people think that recession comes with a blessing as people drink less, smoke less, eat healthier food, and spend less on extravagant spending. Recession also speeds up the business evolution forcing companies to reduce costs and adapt new processes. At the level of mortgages, people tend to lose their homes and livelihoods, for instance, in 2008, mortgage repossessions rose by 50% giving an average 305 people declared bankrupt every day. Krogdahl (2010), states that the recession has called for a reduction in cost, and team size of the company while their property portfolio works harder, however they are faced with the dilemma of whether their portfolio will split when their organization begins to grow. CIPD (2009) stated that this has been the worst recession affected by UK since the Second World War. They say that the manufacturing sector has been the sector which has and is suffering most from the recession. With respect to full time and part time workers, full time workers have been more seriously affected and they experienced a downturn of -3% during the first year of recession. There has been a generally perception that as a result of the recession more women lost their jobs than men, but this ideology was dismissed by the office of national statistics which proved that lost more jobs. Between 2008 and March 2009, men unemployment rate rose from 2.4% to 8.1% while for women it rose from 1.4% to 6.4%. According to Phillips (2009), young people between the ages of 18 and 24 suffered most from the recession when it came to layoffs while old staffs above the age of 40 years were least affected. According to Daniel (2008), most firms experience decline in profitability during recession because of the tendency of price wars which will lead to low sales which consequently lead to low revenues. Firms producing luxurious goods with price elasticity of demand 1 will experience the biggest fall in demand while firms producing basic necessities will become insulated from the effects of recession. The IMF predicted Britain falling into the recession in 2009 as its growth rate forecast fell from 1.7% to  Ã‚   -0.1%. David Blanch flower, a monetary policy committee member in the Bank of England predicted that over 2 million people will likely be unemployed by the end of 2008. ITV announced 1000 job cuts, HSBC 1100, UBS 1000 and GSK 400. Mortgage lending fell by 95% as a result of lack of bank financing which made it difficult for first time buyers to step into the property ladder. Pension expert Hargreaves Lansdown estimated that the system has lost  £250 million and is presently worth  £1000 million (Hopkins, 2008). The present going green scheme has increased most energy companies expenditure cost as extra care has to be taken so as to protect the environment. In the recent recession in theUKoil demand briefly drooped by nearly 3mbpd (million barrels per day) about half of what occurred at the beginning of the financial crisis in 2008. Redundancy and forced salary cuts have also been common side effects of the current recession (Wireline News, 2011). According to Webb (2010), in order to effectively overcome the recession, the industry needs to work collaboratively both across the sector and with Government at national, regional and local level to develop new technologies, improve working practices and efficiencies and drive down costs. This will help to enhance the UK supply chain’s comparative advantage in the global market place and ensure that the industry’s critical suppliers retain a presence here. According to Roberts (2010), all sectors of the economy virtually depend on oil such as transport, retail, agriculture, power generation and heating. The present recession has depressed demand in a temporary or sustained way as was the case in 2008. It has rendered new oil field development more difficult especially when the main reason for development is to maintain low prices. The collapse of the oil prices and uncertainty of the depth and length of recession has forced analysts to look the cost of existing and incremental oil production and the impact of price and recession on future oil demand growth. Research Methodology The research method is very relevant because the results of a research matters on the methodology used. There are two major research methods which explain how research is carried out; these are the positivism and interpretive methods (Colley and Hussey, 2009).Quantitative methods of analysis will involve working with some available data and the end result will be some kind of conclusion derived from working with the data. The ground rule here is that the researcher is independent and does not affect the subject of research (Remeniyi et al, 1998). In the research, we are trying to establish a relationship between recession and the value of a company (share price). Therefore, accounting variables such as earnings per share (EPS), dividends per share (DPS), and current earnings will be used. This research shall use data from over 30 oil and gas companies listed in theLondonstock exchange market from 2000 to 2010. The main focus will be to see if there has been any change in the as a result of the recession in the prices of shares of these companies as well as their betas and if the prices reflect their true value. This time scale covers before and during the recession. Research Method This research shall be based on secondary data. This is data that has already been documented for another purpose (Saunders, et al 2007). There are three types of secondary data; these are survey, documentary and data from other sources which can not be categorized. The data that I intend to use in this research will include share prices of oil and gas companies in the UKand this data will be obtained from the published financial statements and statistical information of the London stock exchange and from the internet through reliable search engines. Academic publications and articles will be of extreme importance especially from high profile financial writers and consultants. A more extensive literature review will aid in acquiring secondary data from popular writers. I intend to use primary data such as interviews with managers, stock brokers and analysts of some of the oil and gas companies so as to answer the research questions and give the research more credibility and reliabili ty. Interviews shall be structured and shall be done verbally. Method of Analysis and Findings In this research both quantitative and qualitative methods of analysis will be used to analyze the collected data. Quantitative method will involve the use of statistical tools such as correlation analysis, statistical tables, charts and graphs established relationships. Meanwhile the qualitative method will be consent with comparing the strength of the relationship that exist between current earnings, future earnings, and share beta with actual share prices of oil and gas companies with respect to stable economic periods and periods witnessing recession. This research will also analyse the changes of the interest rates of some of the oil and gas companies in the UK over a ten year period.    Form of presentation The work will be presented in both hard and soft copies. The hard copy will be presented in A4 paper format style. Data collected will be presented with the use of tables and graphs. Timetable of Activities (Gantt chart).    Weeks from April to August Activity    1 2 3 4 5 6 7 8 9 10 11 12 13 Proposal                                           Literature Review                                        Data Collection                                        Data Analysis                                           Write   up draft                                        Edit final draft                                        Final Document                                        Complete final Report                                        References Articles and Journals   Barnes, Daniel (2008) Recession Fears Causing Debt Depression, myfinances.co.uk accessed on 12.04.2010 CIPD (2009), Jobs: The Impact of Recession and Prospects for Recovery, September.London: CharteredInstitute ofPersonnel and Development. Johnathan Krogdahl (2010), Corporate Real Estate: A study of the effects of recession for the UK’s CRE Professionals, The Curzon Partnership. Kathryn Hopkins (2008), Signs of Recession: The impact on Britain’s real economy. The Guardian. Malcolm Webb (2010), Oil and Gas UK: 2010 Oil and Gas UK Activity Survey Research Summary (2008), Effects of Recession and Those Most at Risk. Simon Roberts (2010), The Oil Crunch: A wake-up call for the UK Economy, Ove Arup Partners Ltd. Trevor Phillips (2009), Monitoring the Impact of the Recession on various Demographic Groups, Department of Work and Pensions    Books Arnold, G., (2008), Corporate Financial Management, (4th edition) Prentice Hall Bodie,Z., Kane, A. and Marcus, A.J., (2008), Investments, (7th edition) McGraw-Hill [ BKM] Remeniyi, D., Williams, B., Money, A. and Swartz, E. (1998), Doing Research in Business and management: An Introduction to Process and Methods,London, Sage. Internet http://en.wikipedia.org/wiki/2003_to_2008_world_oil_market_chronology, accessed on 11.04.2011 domainmonster.com/editorials/dot_com_bubble, accessed on 11.04.2011 dailyrecord.co.uk/news/business-news, accessed on 16.04.2011

The Segway was created to make everyday transporta Essays

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Reaction paper on the article by droogsma Essay Example | Topics and Well Written Essays - 250 words

Reaction paper on the article by droogsma - Essay Example Their response contradicted with the unfounded perception of the Non-Muslim members. The women highlighted various significant aspects of the veil. Droogsma explains the veil to be critical in displaying one’s identity while highlighting their affiliation to the Muslim religion. However, one’s clothing may be a source of discrimination (Droogsma, 2007). The Muslim veil also served as a behavior control to Muslim women. Veiled Muslim women were less likely to behave inappropriately as opposed to their unveiled counterparts. Interviewed women admitted that the veil aided in upholding the Muslim values, such as behaving decently in the presence of members of the opposite gender (Droogsma, 2007). This aided them in earning respect from both Muslim and Non-Muslim members of the society. In my view, it is critical for the societal members to respect the Veiled Muslim members, and look into their rationale for wearing the veil. Some researchers also script biased document that tend to criminalize the veil while ignoring the opinion of the concerned Muslim women (Droogsma, 2007). Mitigation measures ought to be in place, to eliminate the discrimination of the Muslim women within the American society. However, the decision to put on the veil should be personal, and religion should compel women into putting on the