“Is the technology accelerating to collapse the society?” Essay

I There was a time when people used to live a very miserable life and had to work hard in the fields to produce food for themselves. But for the last hundred years or so our quality of life has been gradually improving and today we have sophisticated machines that can do all that hard work for us and make our existence relatively easy and comfortable. Without a doubt, we owe this all to the fast development of our technology. However, the growth of technology has been made possible due to cheap energy which started to be available a little less than three hundred years ago when fossil fuels came into use. Thanks to this abundant and relatively cheap energy provided by fossil fuels humans have been able to exploit a rich variety of resources which created favorable conditions for the development of technology and improved their quality of life. Fossil-driven technology has particularly contributed to â€Å"the development of mechanized agriculture† which has allowed an insignificant number of farmers to â€Å"work vast tracts of land† and produce food in abundance. Sufficient amounts of food have led to â€Å"a wild growth of population†: around 1800 world population was one billion; by 1930 it reached two billion; by the beginning of the 1960s it was three billion; in 1975 – four billion; in 1986 – five billion; and the world’s present population is approaching six billion. In other words, the progress of our society has been based on the development of fossil-driven technology. But the exhaustion of fossil fuels is not far off and there is no other energy source which would be abundant and cheap enough to replace them. It means that our society as we know it today is likely to collapse. (Price, David. Energy and Human Evolution) â€Å"The Age of Exuberance is over, population has already overshot carrying capacity, and prodigal Homo sapiens has drawn down the world’s savings deposits. † (Catton, William. Industrialization: Prelude to Collapse) II Throughout human history many societies have prospered and collapsed; their collapses have direct relevance to the problems we face today. The ancient Maya, for example, were one of the most powerful and advanced societies of the past. Eighty percent of Maya society consisted of peasants who practised intensive slash and burn agriculture, growing mostly corn. (Heinberg, Richard. Meditations on Collapse) During the Classic period of Maya history which arose around A. D. 250 the Maya population â€Å"increased almost exponentially† and reached the highest numbers in â€Å"Page # 2† the eighth century A. D. (Diamond, Jared. The Last Americans. Environmental Collapse and the End of Civilization) One reason why the ancient Maya collapsed was population growth which outstripped available resources. While Maya population was steadily increasing, the area of farmland was decreasing as a result of â€Å"deforestation and hillside erosion†. Another reason was constant warfare which peaked before the collapse as more and more Maya people had to fight over fewer resources. These problems were also exacerbated by a series of droughts. And the final reason for the Classic Maya collapse was political. The coming crisis was not recognized and responded to by the kings and nobles. It can be explained by the fact that the Maya elite remained fixated â€Å"on the short-term concerns of enriching themselves, waging wars, erecting monuments, competing with one another, and extracting enough food from the peasants to support all those activities†, and did not focused on long-term problems. (Diamond, Jared) they did not â€Å"have the leisure to focus on long-term problems, insofar as they perceived them† Today there are many signs of the above-mentioned strands in the United States, the world’s leading power, which is also at the peak of its power and is suffering from numerous environmental problems. Many parts of the United States, for example, â€Å"face locally severe problems of water restriction† (southern California, Arizona, the Everglades, the Northeast), forest fires which result from â€Å"logging and forest-management practices† (intermontane West), losses of farmlands because of salinization, drought, and climate change (northern Great Plains). It is a fact that the environmental problems which exist nowadays in the United States are still modest compared with those of the rest of the world. But the problems of environmentally devastated and overpopulated distant countries are now American problems as well. (Diamond, Jared) Globalization means nothing more than improved worldwide communications and transport systems and at present America is tightly connected to many overseas countries. Intentionally or unintentionally, such things as terrorists, diseases (AIDS, SARS, cholera, West Nile fever), unstoppable numbers of legal and illegal immigrants can easily travel or be sent from the Third â€Å"Page # 3† World to the United States. Modern America depends considerably on the rest of the world and â€Å"political stability anywhere in the world† now affects the USA and its trade routes, overseas markets and suppliers. The ancient Maya were globalized only within the Yucata? n because of their transportation which was slow, short-distance and had low cargo capacity. We live today in a globalized world because our transport is much more rapid and â€Å"has much higher cargo capacity†. (Diamond, Jared) The reasons why past societies failed to anticipate and solve problems before they developed, â€Å"still can be seen operating today†. On the one hand, it is obvious that the possibility of collapse is not taken seriously by our political elite and society. And even when this problem is recognized, â€Å"those in power may not attempt to solve it because of a clash between their short-term interests and the interests of the rest of us†. Pumping oil, cutting down trees, and catching fish which is dying out bring the elite money and prestige but it is â€Å"bad for society as a whole† in the long run. On the other hand, when the problem is recognized and action is being taken it may be difficult for us â€Å"to acknowledge the wisdom of policies† that clash with some of our current benefits. (Diamond, Jared) III The scientific conclusion of many respected geologists, physicists, and investment bankers around the world as to the future of the present society is not encouraging at all: â€Å"civilization as we know it is coming to an end soon†. (Life After the Oil Crash) Our technology-driven economic system is characterized by a high consumption of renewable and non renewable resources – from food to forests, from fresh water to soil – which are disappearing quickly. (Ehrenfeld, David. The Coming Collapse of the Age of Technology) Modern societies depend on technological development and every part of our technology depends on the energy which comes from fossil fuels; and they supply nearly 75% of the world’s energy. At the rate of consumption that we have today known reserves of petroleum will be gone in about 35 years; natural gas in 52 years; and coal in some 200 years. And the demand for energy is â€Å"expected to grow at an ever-quickening pace†. (Price, David) Modern food production is fossil fuel â€Å"Page # 4† and petrochemical powered; commercial fertilizers are made from ammonia, which in turn is made from natural gas; farming machines such as tractors and trailers are constructed and powered using oil. Goods are manufactured in oil-powered plants and factories and then distributed across oil-powered transportation networks. Apart from transportation and agriculture which are dependent on oil, â€Å"modern medicine, water distribution, and national defense are each entirely powered by oil and petroleum derived chemicals†. Oil is required for all plastics, all computers and all high-tech devices. Tin, iron, gold, silver, copper, platinum, etc are each â€Å"discovered, extracted, transported, and fashioned using oil-powered machinery†. We have no way of producing even alternative systems of energy without an abundant and reliable supply of oil as well as of scaling them to â€Å"the degree necessary to power the modern world†. (Life After the Oil Crash) As we can see from these examples, oil plays the most important part among other fossil fuels in modern technology. However, a rapid decline of oil production capacity can be observed in nearly two dozen countries and more than half of the world’s supply has already been used. The global oil peak is likely to occur before 2010 and it is expected to be â€Å"a trigger for global economic crisis†. (Heinberg, Richard) IV All this points out that our present society is indeed heading towards a certain form of collapse. Starvation, social strife, and disease are likely to be â€Å"operative mechanisms† in the collapse of the human society. They are all consequences of scarce resources and dense population and interact in complex ways. (Price, David) Starvation will be a direct result of the depletion of energy resources. Today’s dense population depends for its food supply â€Å"on mechanized agriculture and efficient transportation†. Energy is used in the production and operation of farm equipment and as well as in the transportation of food to market. With the decrease of efficient energy resources food will be bound to grow more expensive and â€Å"the circle of privileged consumers to whom an adequate supply is available will continue to shrink†. Social strife will be another important consequence of the rising â€Å"Page # 5† cost of commercial energy. When goods are plentiful and â€Å"per-capita access to goods is increasing†, social tensions are usually muted. But when goods become more and more scarce and â€Å"per-capita access to goods is decreasing†, ethnic tensions surface, governments often become authoritarian and goods are usually acquired by criminal means. (Price, David) Public health systems will be crippled by a shortage of resources, too. In the meantime, a dense population will encourage the spread of contagious diseases. Throughout human history there have been many examples of large and dense populations leading to the â€Å"appearance of contagious diseases that evolved to exploit them† (smallpox, measles, the Black death). Today, our population is extremely dense and all parts of the world are tightly linked by air travel. All of this facilitates for new diseases such as AIDS to spread rapidly throughout the world. Moreover, a virus as deadly as AIDS but â€Å"more easily transmissible could appear at any time†. (Price, David) We could go even further to state that environmental problems, depletion of energy resources and increased population growth prove that collapse has already begun and all we can do is to make the best of it. It can occur slowly or quickly, be complete or partial, and controlled or chaotic. What we still can and should do is to make a concerted effort to manage this collapse. It would require changes that must be implemented by political leaders and the whole society: large-scale national and international cooperation is necessary in order to allocate essential resources to prevent deadly competition for them as they become scarce. (Heinberg, Richard) These changes are â€Å"well within our human and technological capacity†. First and foremost, the rate at which resources are being consumed and waste is being generated must be gradually decreased. Our resource use and the rate we are polluting the environment can be considerably reduced if we shift to â€Å"proven more-efficient technologies†. It is crucial that our modern society start making these changes now while fossil fuels and other non-renewable resources still exist. They could be invested â€Å"into building a society and economy based on renewable energy, the careful recycling of materials, and the equitable economic institutions required for a sustainable society†. (Gilman, Robert. Reclaiming â€Å"Page # 6†.Politics) We should also give up striving for â€Å"continuous economic growth† and adopt â€Å"lifestyles of voluntary simplicity†. (Heinberg, Richard) BIBLIOGRAPHY: 1. Diamond, Jared. The Last Americans. Environmental Collapse and the End of Civilization, http://www. mindfully. org/Heritage/2003/Civilization-Collapse-EndJun03. htm (November, 16 2005) 2. Ehrenfeld, David. The Coming Collapse of the Age of Technology, http://garnet. acns. fsu. edu/~jstallin/complex/readings/Ehrenfeld. htm (November, 17 2005) 3. Gilman, Robert. Reclaiming Politics, http://www. context. org/ICLIB/IC30/Gilman. htm (November, 30 2005) 4. Heinberg, Richard. Meditations on Collapse, http://www. museletter. com/archive/154. html (November, 16 2005) 5. Life After the Oil Crash, http://www. lifeaftertheoilcrash. net/ (November, 17 2005) 6. Price, David. Energy and Human Evolution, http://www. energybulletin. net/3917. html (November, 16 2005) 7. Catton, William. Industrialization: Prelude to Collapse, http://www. energybulletin. net/4632. html (November, 17 2005).

China’s Relations with African Countries: Strategic Perspective (Case of Madagascar) Essay

Year 1st Semester Course: MEDIA IN CHINA [pic] TOPIC: CHINA’S RELATIONS WITH AFRICAN COUNTRIES: STRATEGIC PERSPECTIVE (CASE OF MADAGASCAR) STU. NAME: RANDRIANASOLO Fenolanto Salome STU. NO. CLASS SCHOOL LECTUERER: PROFESSOR LUO QING GRADE: Master CHINA’S RELATIONS WITH AFRICAN COUNTRIES: STRATEGIC PERSPECTIVE (CASE OF MADAGASCAR) INTRODUCTION In recent decades, while China can ignore other countries, other countries cannot ignore China. It is beginning to play an increasingly important role in many areas such as economics, political, and socio-cultural. This is a great new rising power at the beginning of the 21st century. This explosive growth of China has generated significant debates among policymakers, scholars and business leaders on a number of levels. China is now building relationships in several countries especially in Africa. There have been a number of contacts between China and African states in recent decades. This paper seeks to understand this recent shift in China’s relation with African countries such as Madagascar. Historical Background In 1955: 29 African and Asian states create the â€Å"Third world† to strengthen its base in Africa and Asia; Since 1960s: . The Chinese leader Mao supported the African independences. China supports the ambassadors of the emerging countries against Western interference in their internal affairs at the United Nations. In 1978: Deng Xiaoping decided to open the Chinese economy by establishing a new form of socialism; Since the 1990: African economies have opened up for the Asian powers including China; China becomes the spokesperson for developing countries within the WTO (world trade organization) Partnership China-Madagascar: China has become increasingly active on the African continent in recent years and this activity has drawn the attention of scholars and journalists, among others. Diplomatic Relations: Madagascar and China established diplomatic relations November 6, 1972 and bilateral relations between the two countries continue to consolidate, develop and to strengthen since. Since the establishment of diplomatic relations between the two countries in 1972, their relationship and cooperation in the economic, commercial and various grow without ceasing. In recent years, the leaders of both countries attach great importance the development of relations and exchanges of high-level increase, which gives great impetus to the rapid development of bilateral relations of friendship and Malagasy cooperation. The Minister of Foreign Affairs established the first diplomatic relations between China and Madagascar during the transition (1972-1975); The celebration of the 40th anniversary of diplomatic relationship between China and Madagascar held on 6th November 2012. Several high Malagasy personalities visited China since the 1990s such as the President of the Republic Albert ZAFY in 1994; Madagascar President Marc RAVALOMANANA arrived in Beijing in 2008. During the current transitional period, Ambassador of China Shen Yongxiang has presented his credentials to the Head of State Andrinirina RAJOELINA. Several high Chinese leaders such as the President of the National People’s Congress Chen Muhua; the Second Prime Minister Jiang Chungun and the Vice President of the Republic Hu Jintao was visited Madagascar. Economic Relations: If China’s economic weight is felt in African countries, in particular Madagascar by its commercial dynamism, the country begins to be an investor not negligible. Since 2005, the partnership agreements between Madagascar and China have continued to increase. For example, the establishment of a cement factory, the construction of a large 5 star hotel by a Chinese group, the future construction of a hospital. And even well before the year 2005, investment in China has already had its place in the economy, be it in the industry â€Å"trade†. China is the largest partner of Madagascar in terms of imports; 95% of products from Madagascar benefit from the Chinese treatment tariff exemption; The agreement of economic and technical cooperation between China and Madagascar was signed in 2006. Several Chinese companies investing in Madagascar in the infrastructure, energy, the exploitation of oil and raw materials. Bilateral cooperation in the economic and commercial widens constantly rapidly increasing bilateral trade, investment activates the  day and exchanges in cultural, educational and human intensify. The consultations between the two countries in international affairs reinforce more. Cultural Relation: During 40 years of partnership, China has provided more than 350 scholarships and has trained more than 860 government officials and journalist. CONFUCIUS Institutes were established in three provinces of the Big Island. Impact and perspective: The Chinese presence opens a new perspective for developing countries and it presents many more choices in terms of policy and developing model. It allows exploitation of natural resources with higher prices of raw materials and facilitates access to international aid. It promotes the diversification of investment, a new spirit based on the expression win-win more attractive. China’s growth is pushing up global demand and therefore  the price of commodities exported by African countries. In addition, China has become the main partner of several African countries: it provides cheaper manufactured goods and reduces their dependence on their ways traditional trading partners. In the case of Madagascar, the local market is still underdeveloped in that 20% of the population live in urban areas and in this context, the abundance of Chinese products (food, textiles, toys, shoes, appliances, †¦ Markets Local penalizes local industries to the extent that the price of Chinese products is well below the cost of local industries and supply is abundant. The competitiveness of local industries is low compared to the value of a product Chinese including textiles and food products. In the Capital Antananarivo, expansion and Chinese domination can be analyzed via the rapid development of a shopping center Behoririka (name of district) in the middle Capital in the image of Chinatown. Added to this is the development of restorations. However, these imports improve the well-being of people in that price consumer goods from China are within the powers of purchases population. The development of these businesses creates jobs but the salary level remains insufficient compared to the level of wages in the private sector in Madagascar. Chinese competition also exerts downward pressure on the cost of investment. Chinese equipment (transport, agriculture) is very cheap an alternative to higher quality goods. However, the lifetime of the equipment is not long compared to the same type of equipment from Europe. Chinese growth will boost African exports but will also increase volatility. China opened its market by treating preferential tariff least developed countries, but this has not yet been impacted on African exports. In the case of Madagascar, export to the China is still insufficient compared to the values of imports and has been a decade. This increases the trade deficit Malagasy and may undermine the external reserves position of the Central Bank of Madagascar. If Europe the main export destination from Madagascar, China still relatively low and represents 2. 2%. In terms of trade between China and Madagascar, relationships become increasingly important during the last decade. Current trends regional trade showed a significant increase and the value of continuous imports from China, and a modest increase in export exports Madagascar to China. Changes in imports and exports of Madagascar with China do not evolve at the same rate, resulting in an imbalance of trade. The exchanges are obviously in favor of China. CONCLUSION In short cooperation with China is mutually beneficial and China has promoted the cultural development in Madagascar. Projects underway in Madagascar, which involve Chinese aid, are also very visible. In terms of foreign direct investment, the weight of Chinese investors is not negligible and is around 10%. The majority of Chinese capital from Hong Kong. Chinese companies are among the providers of jobs in Madagascar. If the participation of France in the capital is very dominant in Madagascar, China’s participation has increased by 0. 8% to 10. 9% over the same period and has a negative influence on the situation in France. This attests to the strengthening of the position China and offset somewhat the impact of French colonization of the current situation. The friendly cooperation in the field of education, health and trade, have borne remarkable fruit. We think that with the principle of mutual benefit, cooperation between China and Madagascar will have a bright future. REFERENCES †¢ http://www. bbc. co. uk/news/world-africa-13864364 †¢ http://www. irinnews. org/Madagascar †¢ http://www. state. gov/p/af/ci/ma/ †¢ file:///F:/feed%20back%20de%2040%20ans. htm †¢ file:///F:/CCTV%20mirrroir%20d%20afrik%20frappe%20chinoise. htm file:///F:/mada%20chine%202. htm †¢ http://www. xinhuanet. com/english/home. htm †¢ Perspectives economiques en Afrique. OCDE. 2006 †¢ Plan cadre des Nations Unies pour l’assistance au developpement (UNDAF) Madagascar 2008-2011. Systeme des Nations Unies. Juin 2007 †¢ Rapport National sur le Developpement Humain Madagascar 2006 : Le s technologies de l’information et de la communication et developpement humain. PNUD. Avril 2007 †¢ Les echanges entre la Chine et L’Afrique : Situation actuelle, perspectives et sources pour l’analyse , Jean Raphael Chaponniere, STATECO N °100, 2006.

Management of Marketable Securities Essay

Cash and marketable securities are normally treated as one item in any analysis of current assets and holding cash in excess of immediate requirement means that the firm is missing out an opportunity income. Excess cash thus is normally invested in marketable securities, which serves two purposes namely providing liquidity and also earning a return. Investing surplus cash in marketable securities is normally a part of overall cash management. The task of financial managers, who become involved with marketable securities either full time or part time consists of three issues. Initially the managers must understand the detailed characteristics of different short term investment opportunities. Secondly, managers must understand the markets in which those investment opportunities are taught and sold. Finally managers must develop a strategy for deciding when to buy and sell marketable securities, which securities to hold, and how much to buy or sell in each transaction. Need for investment in securities: Marketable securities result from investment decisions that really are not the main part of the firm’s business; however, marketable securities cannot be ignored, as they constitute a part of the value of the firm that is entrusted to management. However, they cannot use the short term surplus cash flows for any long term purposes. Surplus cash is thus invested in marketable securities primarily to earn an income, which otherwise remains idle within the firm. Companies which were flushed with money at one point of time and investing heavily in marketable securities, may issue short term securities to other and borrow money at another point of time. Another prominent reason for holding marketable securities is on account of mismatch between the borrowing and investment programs. Types of marketable securities: Marketable securities available for investments can be grouped under several ways and they can be classified under three broad heads namely debt securities, equity securities and contingent claim securities which in turn can be grouped under several heads. Debt securities: There are different kinds of debt securities namely money market instruments and capital market debt instruments. Money market instruments can be called as call money, certificates of deposit, commercial paper, banker acceptances, government securities or securities guaranteed by the government. Capital market debt instruments can be further subdivided into treasury notes and treasury bonds, Public sector undertaking bonds, corporate bonds etc. Students in order to get good grades in their examinations have to listen the lectures delivered by the teachers and professors keenly; they should allot certain number of hours for home preparation and in case of need they can get home tuition and by clicking the educational websites, they can also learn the topics by help available through finance homework. Reference: http://classof1.com/homework-help/finance-homework-help

Managing Communication, Knowledge and Information Essay

Managing Communication, Knowledge and Information - Essay Example Recommendations are also suggested for some of the changes needed for the information to be managed properly within Tesco Company. 1.0 Introduction The Management official of Tesco Company understands the importance of decision- making in the operation of every aspect of the business. The company has a complex form of management due to its large size and the number of stores it operates which have reached up to 6 351 in numbers. The company also manages approximately 472 000 employees (Fernie 2005, p.36). This kind of work force has to be managed well if the company needs to maintain its growth and profitability. 2.0 Decision Making Process Decision making processes in the organization is as complex as is the Multinational Company itself. They rely on good information experience and consultation in making these decisions. The managers here are highly qualified and experienced. Decision making within the company happens at all level of the organization. The Board of directors are the grand strategic decisions maker about the investments and the future growth direction. The various managers of the various stores under the company are also involved in making decisions that continually contribute to the overall company objectives (Richardson 2004, p.15). Lastly, the ordinary employees are involved in making of decisions concerning their respective tasks. ... 29). Source: http://tutor2u.net/business/organisation/decisionmaking.htm The company has a well-established mission and vision statements. The Management officials must first identify the objectives of every action to be made. The objectives outlines the goals that the department, store or even the entire company want to achieve once the identified actions are carried out. A supervisor in Tesco Supermarkets identifies the need to increase the number of cashiers during peak hours so to improve the quality of customer service as well as reduce inconveniences and thus creating an overall good image of the company (Richardson 2004, p. 31). Once the objectives are identified, the decision maker is required to collect as much information as possible regarding the identified problem. This determines the cause of the problem and identifies various alternatives that can solve the same problem. The managers ensure that they gather all the information about the situation. This helps them to be aware of all the aspects of the issue. The managers of various stores carry out the studies to establish approximate numbers of customers that are shopping at various times of the day. They also identify the number of adequate cashiers that should serve customers at various times of the day. The analysis of information gathered identifies various alternatives available to the managers to make their decision. It also tries to find the viability of such information to eliminate chances of making an error. Once the manager is clear about all issues, they usually choose the most viable course of action to solve the identified problem. This decision is made after evaluating all the

Summery Essay Example | Topics and Well Written Essays - 250 words - 1

Summery - Essay Example In essence, plastics are cheaper, sturdier but non-biodegradable. Meanwhile, paper is biodegradable, organic but expensive to make and recycle. Advocates for both sides continue to argue their cases but everyone agrees that the best way to solve this problem is to BYOB: Bring Your Own Bag. NY did so when the eco-friendly â€Å"I am not a plastic bag† totes made by Anya Hindmarch from UK hit the stores, making BYOB a must-do and must-see by Yankees. It only goes to show that when fashion leads the way, everybody follows. The people of Boac, Marinduque will always remember March 24, 1996. It was the fateful day when a poorly plugged drainage pipe burst and more than three million tons of mine tailings inundated the river. The rising flood spilled over the farms and residential areas causing irreparable damage to their homes, livelihood, source of food, irrigation and water. Many people survived but the Boac River did not. The local community knew who to blame for the tragedy: Marcopper Mining Corp. The villagers hold the company accountable for their irresponsibility and even suspect that it had been doing illegal activities during its operations. With the support of the national government, NGOs and other civil organizations, the community expediently filed a lawsuit against Marcopper Mining Corp. and its major shareholder, Placer Dome Inc., a Canadian firm. Marcopper had been digging for copper only a few years but its parent company, Placer Dome has been mining gold there since 1970. In 1998, it posted profits amounting to 105 million US dollars and was among the top five gold mining industries in the world. Placer Dome owns some 14 mines all over the globe, among them Marcopper Mining. But even with such high acclaims, Placer has been allegedly involved not only causing environmental disasters in the countries of United

Violence Essay Example | Topics and Well Written Essays - 1250 words - 1

Violence - Essay Example It also won in the critical award giving body Cannes Film Festival with the award â€Å"the Palme dOr. The film Inglorious Basterds is more recent film (shown in 2009) and again written and directed by Quentin Tarantino. It starred Brad Pitt as Lt. Aldo Raine, Christoph Waltz as Col. Hans Landa), Eli Roth as Sgt. Donny Donowitz, Michael Fassbender as Lt. Archie Hicox, Diane Kruger as Bridget von Hammersmark, Daniel Brà ¼hl as Fredrick Zoller, Mà ©lanie Laurent as Shosanna Dreyfus, Denis Menochet as Perrier LaPadite, Sylvester Groth as Joseph Goebbels,  Mike Myers  as Gen. Ed Fenech and Rod Taylor (Winston Churchill). Although the film directed against the German Nazi’s, the movie still got a positive review from the German press when it was shown in German theatres (Itzkoff). Both films contained Tarantino’s â€Å"hyperbolic violence . . . [being] a constituent of his work as the reams of dialogue† (Dargis). The films were situated in separate settings and different time in history yet both have the same central appeal of violence. Although Tarantino is already renowned for making quality and almost surreal films, this â€Å"hyperbolic violence† which is always present in Tarantino’s film is just too prevalent and used too casually to the point of nondescript that it desensitizes his audience. These two films are set in violent circumstances. The more acclaimed film Pulp Fiction was set against the backdrop of Los Angel mobsters where criminality is rampant and the â€Å"Boss† rules the day. This makes the theme of violence convenient because violence is the language spoken and understood by the mob. The script is also peppered by expletives and even if it displayed wit and humor, it still promoted the culture of gangsterism where hoodlums were not depicted to be profane but seemingly an acceptable people. Allan Stone in his review about the violence in Pulp Fiction observed that Tarantino

One economics aspect of oil industry Essay Example | Topics and Well Written Essays - 500 words

One economics aspect of oil industry - Essay Example The oil industry focuses on demand as a central point of production. As such, a given energy demands rely on the existing economic activity.Supply is a general aspect of the oil industry affected by weather and other geopolitical elements. Oil demand is a vital feature that largely affects the oil industry. Unreliable economic activities directly affect the demand for energy. As such, the oil demand decreases within a given duration. A decrease in oil demand results in a low number of investors within the industry. As such, the industry experiences rising cases of companies practicing monopoly. The ideology revolves around limiting consumers to regulate the supply chain. As such, the independent companies overcharge the government for using the organization’s oil reserves. Independent companies raise revenues through the monopoly policy affecting a country’s revenue or source of income(Spilsbury, Richard &Louise, 202). Countries that produce oil contribute largely to the changes in oil prices. These countries regulate supplies based on individual interest or political gains. As such, the world oil prices fluctuate to accommodate the given interest. Other countries such as the superpowers also engage in practices that undermine oil prices. The various changes within the economy depend directly on the oil prices. Inflation rates shape the oil industry with key participants who tend to control the industry. Powerful countries tend to enlarge shares within the oil producing countries through the oil companies. Decreasing oil fields affect the oil production percentage and eventual supply to the world. Different countries struggle to obtain stable supplies of the oil to meet the rising demands. As such, the world thrives on an unstable environment that reflects on the economy of various countries (Spilsbury, Richard & Louise, 171). Additionally, various organization emerge to regulate the

Ethics & Business Essay Example | Topics and Well Written Essays - 2000 words

Ethics & Business - Essay Example In Mexico, it has been reported that workers are offered very little wages to an extent that they are forced to send their kids to offer labor in garment factories instead of going to school (Esbenshade, 2004, pp.4). This denies the young children from achieving their rights to education and forces them into the same torturing manual professions like their parents. The word â€Å"sweatshop† was first coined in the early 1900s i.e. during the industrial revolution. It was a term used to express the kind of abusive working situation several workers in Latin America used to and are still put to go through by middlemen who make an income off their sweat. For every pay a worker receives, there is a percentage that is taken by the middlemen. This percentage is what is said to be sweated from the laborer despite the fact that, they received minimal wages for disproportionate work, under unhygienic conditions. Basically, the greatest victim of sweatshops is often women. Under these wo rking conditions, these women’s right to wages that meet basic costs of living is violated; they live and work under substandard and hazardous working condition; they receive no compensation for overtime work; and also endure sexual harassment. In many instances, the women fall victim to this inhuman habit as they are lured by recruiters who promise heaven but only offer hell. Worse still, is the fact that in most instances, they pay lots of cash in recruitment and contractual fees that tie them up to commitments that would probably last for endless years. Some even go for several years without receiving even a single penny as they try to pay off their debts. Those who attempt to escape back home without meeting their contractual commitments are in most cases blacklisted or jailed. The laborers, who often are not quite familiar with their labor rights frequently, carry on with work even when their wages delayed for weeks. Some employers even lure the women into offering them sexual favor for better opportunities and wages, something that never comes to bare fruits (Hapke, 2004, pp.3). Global Corporations’ Perspective and Ethics Ethics among global corporations is a widespread issue that impacts not only in the economies of Latin America, but also the economies of other nations as well. In a time when technology has enhanced accessibility all across the world, the global economy is continually becoming more and more vital. Labor standards of the firms targeting foreign workers must aptly take into consideration the principal form of human rights, and the persona of both the individuals targeted as well as that of the company. When discussing ethics among global corporations, some of the key areas of debate include â€Å"extortion, moral norms and human rights† (Hapke, 2004, pp.3). The behavioral traits exhibited by firms in the hosting nations normally impact negatively on the economies and persons of both the targeted nation as well as the host firms doing business. Due to this, the ethical standards under which a company ought to operate under has been a source of extensive debate for a very long time. There are two fundamental ethical issues in human rights that need to be largely taken into consideration by global business players. First and foremost, is the question of whether global business players should carry out business in nations which consistently

Groupwork Essay Example | Topics and Well Written Essays - 3250 words

Groupwork - Essay Example Group dynamics are increasingly becoming a topic of interest because of online, social interaction made possible by the internet. Although this model refers to the overall pattern of the group,it should be noted that individuals within a group have distinct ways of working. If distrust persists, a group may never even reach the norming stage. Group-dynamic games are experiential education exercises which aid people in learning about themselves, develop and enrich interpersonal relationships, and assess how groups function from a group dynamics or social psychological point of view. Group dynamics can be understood as complex from an interpersonal relationships point of view because it may involve relationships between two people ,relationships between a person and a group or relationships between groups . Group-dynamic games are specifically designed for the purpose of furthering personal development, character building, and teamwork via a Group-dynamic milieu. The group leader may sometimes also be the game leader, or between peers, the leadership and game-rules can vary. Some games may require large spaces, special objects and tools, quietness or many before-game and after-game requirements. existing games may need modification when aged, frail or disabled people are involved. The use of group dynamic activities have been used for years in conflict resolution, anger management and team building and many other areas such as drug rehabilitation and drama therapy. The propensity of children for peer-group

Military Operations Based on Climate Essay Example | Topics and Well Written Essays - 1000 words

Military Operations Based on Climate - Essay Example fferent climatic changes such as high and low temperatures, drought and floods, high and damaging winds, and heavy or blowing snow have significant impacts on military operations. These may lead to increased risk to life and safety, injury, and a degrading effect on mission performance. The effects of snow are felt across a range of tasks from intelligence gathering by sensors to mobility of vehicles and personnel. At the tactical level, the climate and its extremes affect soldier and unit issues such as doctrine, organization, training, materiel, leaders, personnel, and facilities. Proper training and doctrine have At the operational level, climate and extreme weather have an effect on the design and organization of successful campaigns, theater operations, and battles. When the campaigns are launched in the environments of tropical storms, monsoon season, or extreme desert heat these are clearly affected by the expected climate. Extreme weather events can cause delays and disruptions in plans for mobility, lines of communication, point of embarkation, logistics and support. At the strategic level, climate and extreme weather affect the national and international resources. The requirements for developing new aircraft, ground vehicles and ships are also affected by the range of extreme weather conditions. The operating and maintenance costs that are tied to both climate and the frequency of extreme weather, such as heating and cooling costs, damage by tropical storms and periodic floods. There have been many examples in the past when military attack has been affected by the extreme climatic conditions. During World War II the bad weather in Europe was the worst enemy of the air operation. Bad weather is the enemy of the side that seeks to launch projects requiring good weather, or of the side possessing great assets, such as strong air forces, which depend upon good weather for effective

Workplace Teams Essay Example | Topics and Well Written Essays - 1000 words - 107

Workplace Teams - Essay Example As the discussion declares the structural shift from a top-down management system to a team-based management led to the creation of workplace teams. Many companies adopted the team-based approach because it enhances innovativeness and problem-solving abilities of the company. People can brainstorm on problems and propose ideas that are more optimum compared to a single person working. It enables a company that adopts it to be agile as its workforce is agile. Workplace teams are thus, important in a changing environment. Therefore, every student ought to be prepared to be an effective team player. Teamwork skills are important, and thus many companies, usually, consider the ability of its prospective employee to work effectively in a group. From this paper it is clear that a team-oriented structure means organizations or companies rely on small teams to handle and manage a number of tasks. Workplace teams proffer certain benefits because it permits collaboration of a number of employees. As defined by Ahles & Bosworth, a team consists of a small number of persons with matching skills. The persons hold themselves accountable for a common intention, approach, and a set of goals. Therefore according to the definition of Ahles & Bosworth and supported by Cornish, workplace team leads to better solutions, better production, and creativity. The advantages of a team-based approach are due to the ability of the approach to place equal responsibilities on the members of the group.

If I Could Tell You Essay Essay Example for Free

If I Could Tell You Essay Essay TimeTime, said to be eternal, possess neither a beginning nor an end. Yet however there is a fixation on being able to measure it in years, months, days, hours, minutes and seconds. Trying to save time with new technology, manage time with multi-tasking activities. All in the hopes of giving meanings to the past, present and future. The past is able to been seen but not changed, today is in the present yet still unpredictable, and tomorrow is not guaranteed. If I Could Tell You by W. H. Auden is a villanelle much like others using rhyme, repetition, and meter, that revolve around the main idea of the continuity time and its unforeseeable nature. The rhyming of the alternating ending lines, â€Å"Time will say nothing but I told you so† (1) and â€Å"If I could tell you I would let you know† (3) keep the rhyme scheme which stays on the central themes. â€Å"Time will say nothing but i told you so† shows that time keeps going, because this is a statement. Although the things of the future are unforeseeable, it is guaranteed that in the end the only one who will know what will happen is Time. â€Å"If I could tell you I would let you know† show how unforeseeable Time is. Auden knows that he can not see into the future, which is why he says â€Å"If I could †. These two phrases depict the speakers understanding of the continuity of time even though he shows to have a desire to know ahead of time what to do before certain events. The villanelle itself has a rhythm as a whole through periodical thinking. The beginning shows how Time does not wait for anything or anyone, â€Å"nothing but I told you so†. He later goes on to question Time in the second stanza and if we should fight back, which is why he says â€Å"weep when clowns put on their show† and â€Å"stumble when musicians play† which are juxtapositions since these actions are not likely given the circumstances. The third stanza shows the shift as he begins to understand that Time is necessary and things have to happen for a reason, â€Å"the winds must come from somewhere†. In the fourth stanza his train of thought is nearing a conclusion as he begins to wonder if not only do things have to happen, but are they meant to happen for the greater good, â€Å"Perhaps the roses really want to grow†. The ending shows Audens maturity throughout the villanelle and ends with â€Å"If I could tell you I would let you know † stating that Time is out of his hands, but it is acceptable and if there was anyway he could help, he would. Throughout the villanelle, time is personified and introduced to the reader as an unreliable character, through. Auden blames Time for unwanted changes in life, and he repeats the line because he observes that all changes, even those that are unintentional, come with Time. The repetition of Time at the end of the stanza rather than the beginning or end display how eternal time is. The first part of each stanza question Time, but all ends with â€Å"Time will say nothing but I told you so†, explaining that whatever Auden thinks or observes, will all be part of the past in the future. Much like poetry as a whole, used to express emotion and speechless opinions, the villanelle is almost perfect fitting for the theme of time. A villanelles structure alone portrays almost a near exhibition of time. Through the first five stanzas, a villanelle is predictable with tercets although the last stanza is a quatrain. This depiction could be metaphorical that time can be planned although in the end, everything may not come to together as hoped. The meter only emphasises this metaphor more by breaking the alternating line in each of the tercets before at the end. Audens desire to be able to match time is emphasized by the repetition of two phrases by the structure of the poem, which in itself helps portray the author’s idea about times continuity and its unforeseeable nature.

An Introduction to the financial tools in measuring Liquidity and Profitability

An Introduction to the financial tools in measuring Liquidity and Profitability Tools that are important in monitoring business are liquidity and profitability. Liquidity refers to solvency meaning how quickly assets can be converted to cash while the income statement measures the financial performance of an entity through measuring profitability. The main financial documents of a company measures profitability and liquidity, the statement of comprehensive income measures profitability whilst liquidity is measured by the statement of financial position. Liquidity is measured by comparing the current assets and current liabilities of an entity. Current assets are resources of a business maturing within a year whilst current liabilities are the short term obligations of a business maturing within a year. Therefore, when measuring liquidity we measure the ability of an entity to cover its short term obligations with its current resources which includes inventory, Debtors, cash in the bank and petty cash amongst other resources. If a firm can cover its current obligations with its current resources twice it is considered liquid meaning it can cover its current obligations with few difficulties and any ratio less than that is considered illiquid meaning the entity will face difficulties in settling its current obligations which is not a good sign for any entity. Profitability is measured by matching revenue for a period with expenses for that period. Revenue is the proceeds an entity receives from selling its products from its core business activities. Whilst expenses are those costs incurred during a period in the process of generating sales revenue. Examples of expenses include electricity, rent, depreciation, salaries and wages e.t.c. The excess of revenues over expenses means the business is profitable whilst the vice versa means its making a loss. Profitability is measured in the income statement, and in addition to cash items it also considers non cash items such as depreciation. As a result profitability is not a true reflection of the cash generated by the business given the fact that it is drawn on an accrual basis. Yearling Ltd The company is faced with disagreements between two departments which are the accounting and finance staff. The accounting staff believes that if the company is profitable it should be able to pay for its obligations whilst the finance staff disagrees. The elaboration in the above paragraphs has explained profitability and liquidity and differences can be identified from the explanations. That is profitability means the ability of the firm to cover its operational expenses with its operational revenue and this includes cash and non cash items and hence can not measure the ability of a firm to pay its obligations. On the other hand liquidity measures the ability of a firm to cover its obligations with its resources and hence a perfect measure of the ability of the firm in covering its financial obligations. Hence, a profitable firm can be illiquid i.e. can face liquidity challenges in meeting its obligations. Conclusion The financial managers staff is right in advocating for party budget cut in order to reduce their financial obligations given the challenge they are faced with. On the other hand the accounting staff are wrong in thinking that a profitable firm implies liquidity as these are two different things as was discussed in the previous paragraphs. Question 2 Question 3 3.1.1. Debt Ratio A  debt ratio compares a companys total  debt to its total assets. Debt consists of the amounts borrowed or owing to creditors. The ratio is used to gain a general idea as to the amount of leverage or debt being used by a company. A low percentage means that the company is less dependent on debt or leverage i.e. money borrowed from and/or owed to others. The lower the proportion, the less leverage a company is using and the stronger its equity position. This is so because the lower the chances that the company will be liquidated to meet the debt obligations. In general, the higher the ratio, the more risk that company is considered to have taken on. Debt ratio is calculated by the following formula: For the companies under discussion their debt ratios are as follows: Pelican Paper Ltd Timberland Forest Ltd 1000000/10000000 5000000/10000000 10% 50% Timberland Forest Ltd has got a high ratio of 50% compared to the ratio of Pelican Paper Ltd of 10%. This means that Timberland has a high financial risk as it is financed by debt more than Pelican. The more debt compared to equity a company has, which is signalled by a high debt ratio, the more leveraged it is and the riskier it is considered to be. 3.1.2. Times Interest earned Ratio A metric used to measure a companys ability to meet its debt obligations. It is calculated by taking a companys earnings before interest and taxes (EBIT) and dividing it by the total interest payable on bonds and other contractual debt. It is usually quoted as a ratio and indicates how many times a company can cover its interest charges on a pre-tax basis. Failing to meet these obligations could force a company into bankruptcy. The ratio is calculated as follows: Times Interest Earned=Earnings before interest and taxes/interest For the two companies their respective ratios are as follows: Pelican Paper Ltd Timberland Forest Ltd 6250000/100000 6250000/500000 62.5 times 12.5times Pelican Paper Ltd has a high times interest earned ratio of 62.5times compared to Timberlands of 12.5times. This means Pelican has a high ability to cover its debts compared to Timberland as reflected by the number of times they can cover their interest obligations with available earnings. Conclusion Timberland has a high financial risk reflected by a high debt ratio and a lower time interest earned ratio. 3.2 3.2.1. Operating Profit margin Operating profit margin is the proportion of operating profit to Sales revenue for that period. Operating profit margin indicates how effective a company is at controlling the costs and expenses associated with their normal business operations. A high ratio means a high profitability whilst a lower means less profitable. The ratio is calculated as follows: Operating profit margin = operating profit/sales The respective ratios for the two companies are as follows: Pelican Paper Ltd Timberland Forest Ltd 6250000/25000000 6250000/25000000 25% 25% The companies has the same ratios and this implies that they are equally good in managing their costs and expenses hence profitability based on this ratio. 3.2.2. Net Profit Margin The ratio measures the percentage of profit available to ordinary shareholders to Sales. This number is an indication of how effective a company is at cost control. The higher the net profit margin is, the more effective the company is at converting revenue into actual profit. The net profit margins are a good way to compare companies in order to gauge which ONES are relatively more profitable. The ratio is calculated by the following formula: Net profit margin = Earnings available for ordinary share holders/sales The respective ratios of the two companies are as follows: Pelican Paper Ltd Timberland Forest Ltd 3690000/25000000 3450000/25000000 14.76% 13.80% Pelican has a high ratio compared to Timberland which means a high profitability based on this ratio. Therefore Pelican is profitable than Timberland. 3.2.3. Return on Total Assets Measures profit in proportion to total assets, in other words the effectiveness of management utilising the available assets in generating profits. A high ratio means greatest effectiveness and profitability. The ratio is calculated as follows: Return on total assets = Earnings available for ordinary shareholders/Total assets For the two companies the respective ratios are as follows: Pelican Paper Ltd Timberland Forest Ltd 3690000/10000000 3450000/10000000 36.90% 34.50% Pelican has a high ratio compared to Timberlands hence high profitability. 3.2.4. Return on common equity Measures the return earned on the ordinary shareholders investment in the firm. The amount of net income  returned  as a percentage  of shareholders equity.  Return on equity  measures a corporations profitability  by revealing how much  profit a company generates  with the money shareholders have invested.  Ã‚   ROE is expressed as a percentage and calculated as: Return on Equity = Net Income/Shareholders Equity Net income is for the full fiscal year (before dividends paid to common stock holders but after dividends to preferred stock.) Shareholders equity does not include preferred shares. The two companies ratios are as follows: Pelican Paper Ltd Timberland Forest Ltd 3690000/9000000 3450000/5000000 41% 69% Pelican has a lower return on equity compared to Timberland and based on this ratio Timberland is more profitable compared to Pelican. 3.3. Timberland has become more profitable because of the larger debt. Debt has a fixed interest payment and its tax allowed meaning it is tax deductable and as a result a high debt means a high interest payment and lower tax hence increased profits. 3.4. The risks undertaken by Timberland investors are basically financial risks which include the liquidity risk, interest rate risk and credit risk. Question 4 Item Change(Rands) inflow(I)/outflow(o)/neither(N) Cash +100 I Trade and other payables -1000 O Short term borrowing +500 I Long-term borrowing -2000 O Inventory +200 O Non-current assets +400 O Trade receivables -700 I Net profit +600 Depreciation +100 N Repurchase of shares +600 O Cash dividends +800 I Sale of shares +1000 I Question 5 5.1. Year Cashflow PVIF(5%) PV 1 800 0.95 761.90 2 900 0.91 816.33 3 1000 0.86 863.84 4 1500 0.82 1234.05 5 2000 0.78 1567.05 Present Value of mixed cash flows 5243.17 5.2. The amount that can be paid at most is 5  243.17 5.3. Present Value of the mixed cash flows at 7% is as follows: Year Cashflow PVIF(5%) PV 1 800 0.93 747.66 2 900 0.87 786.09 3 1000 0.82 816.30 4 1500 0.76 1144.34 5 2000 0.71 1425.97 Present Value of mixed cash flows 4920.37 An opportunity cost of 7% implies that the investor will be prepared to pay less now and earn the same return as the one who pays more at 5% return. Question 6 6.1. Risk Averse Describes of an investor who, when faced with two investments with same or a similar expected return and different risks, will prefer the one with the lower risk. Given the trade off between risk and return its means risk averse investors will always lose on a potential of earning higher returns as investments with lower risks tend to have lower returns. 6.2. Risk indifferent This describes investors who overlook purposely risk when deciding between investments. They are also called risk neutral investors and they are mainly concerned with an investment expected return. 6.3. Risk seeking Describes investors who are willing to take additional risks for investments that have relatively low expected return. This contrasts with a typical investor mentality risk aversion. They tend to take higher risks in an effort to earn higher returns. They are also termed risk lovers. 6.4. Financial managers are best described as risk averse as they always seek to minimise risk when they make financial decisions. Question 7 7.1. Standard deviation measures the deviation of the returns from the expected return whilst range measures the differences between the highest possible return and the lowest return of a project. The higher the standard deviation the higher the risk whilst the same can be said about range, therefore project A is less risky as it has the lowest standard deviation and range compared to other projects. 7.2. Project A has a lower standard deviation 7.3 Standard deviation measures extend at which the returns are dispersed from the expected return of an asset. But it does not measure proportionately, so given different returns standard deviation will not be proper to use it as a measure of risk for purpose of comparison. 7.4 Coefficient of variation = Standard deviation/Expected Return Project Coefficient of variation A 2.9%/12% 0.24 B 3.2%/12.5% 0.26 C 3.5%/13% 0.27 D 3%/12.8% 0.23 7.5 Coefficient of variation is a best measure of risk for purposes of comparison as it measures proportional deviation from the mean. Given that Grassland owners are risk averse they will choose a project with the lowest coefficient of variation which is project D based on the table above. Question 8 8.1 Comparison of Ordinary shareholders and other providers of long term capital Ordinary Shareholders Other Suppliers of long term capital Dividends to be paid are at the discretion of the companies board of directors Receives a fixed interest whether the company made profit or not. Dividend payments are taxed Interest payments are tax deductible Permanent form of financing They mature Have secondary claims to assets and income of the company. Have primary claims to income and assets of a company. Owners of the firm Creditors of the firm Have voting rights Dont have voting rights. 8.2 Rights offering are when ordinary shareholders are offered new shares at a discounted price first before they become available to the public. Therefore, this offering protects a firms shareholders from dilution of their holding in such a way that they are given preference to maintain their holding first by being offered proportional new shares to their holding. In that manner protected from a possible dilution if they were to be taken by new shareholders. 8.3. Authorised Shares Authorised shares quantify the maximum total shares a company can be allowed to issue. In other words it is the number of shares a company is authorised to issue highlighted in its articles and memorandum of association. It is from this that the company can decide on the number of shares that it can issue and can only issue at most to this amount of authorised shares otherwise it can issue less. Issued shares Its the number of shares that has been issued and paid for and it represents part of the amount equity reflected in the statement of financial position. These also represents the amount of he authorised shares held by the public. Issued shares represents the sum of issued and treasury shares. Treasury shares A company can decide to purchase part of the issued shares back for some reasons. If it does the shares will be held by the company and they do not participate in any thing i.e. they do not participate in voting nor receive dividends. These types of shares are the ones termed treasury shares 8.4. Preference shareholders tend to have more favourable basic rights in terms of the distribution of earnings and assets compared to ordinary shareholders. They often have features of debt instruments which makes them superior in terms of claims compared to ordinary shareholders. The claims that preference shares will be discussed in the paragraphs that follow; Preference shares have a fixed claim on the firms income that takes precedence over the claim of ordinary shareholders. This makes them less risk compared to ordinary shareholders as they have guaranteed income. Given that they are participative preference shares they will also have preference over ordinary shareholders in the distribution of earnings. Furthermore, if they do not receives the dividend earnings it implies the ordinary shareholders they have not as well. This then makes and shows that the ordinary shareholders are the true risk takers. In the event of liquidation, preference shares do have a preference over ordinary shareholders in claims over assets of the firm. In other words they are paid their initial capital first before ordinary shareholders could be paid. 8.5. The cumulative future of preference shares refers to the guaranteed payment of dividends to the shares irregardless of the performance of the company. In the event of a company having less financial resources to pay for the dividend, it will be deferred and paid as and when the company realizes the resources to pay. In other words the dividends are accumulated and paid when the company can. For example, if a company is liable to pay a 10  000 dividend annually for preference shares and it happens that one financial period the lack financial resources to pay the dividend they defer it to the following financial period. As a result, in the following financial period they will have to pay a dividend of 20  000 which covers the 10  000 for the last period and the 10  000 for the current period. Question 9 Valuation of shares with no dividend growth, the formula is as follows. 9.1 Share price = Dividend per share/cost of capital 2.4/0.12 R 20.00 9.2 2.4/0.2 R 12.00 9.3 The higher the risk the higher the value, a lower interest rate results in a higher value. This is so because the lower the interest rate the higher the risk of default and that risk should be compensated by an increased capital value. The reverse is also true for a higher interest rate as it has resulted in a lower capital value.

Diamond Gems And Jewellery Industry Commerce Essay

Diamond Gems And Jewellery Industry Commerce Essay The Indian Gem and Jewellery sector is one of the most active and fast upward sectors of the Indian Economy. The gems and jewellery sector in India is unroganised and disjointed. Around 90% of the players operate in the unorganized sector. This was a single step in an industry where traditional business environment exists. The companys operations are general in scope and global in spread cover all facets of diamond and jewellery manufacture and trading in rough and polished stones, at all key locations worldwide. The Indian gems and jewellery sector is pre-dominently needy on the US markets, which is its top export target. This research comprised of activities like listing down various agencies like manufacturers, distributors, etc and also chambers and libraries like the Indian business chambers and network with them in order to gather first hand information. Diamond jewellery is increasingly serving as a fashion statement for the rich to differentiate themselves from others wearing traditional jewellery gold jewellery. The macro environment includes all relevant focus outside a companys limits applicable in thesense that they are important enough to have brought on the decision. An industry finally makes about its business model and  strategy. Gems and Jewellery is an important rising sector in the Indian Economy. Ranked among the fastest growing sectors, it is also a leading sector for foreign exchange generation. The gems and jewellery industry is very much interesting being usually exciting and originally modern. This business employees and engages millions; cover wide activities such as raw material procurement from far flung Africa, Australia, Canada and Russia, and transforming these into products in demand with the skills available in China, India, Italy and Turkey for the trendy markets in the USA, Europe, Far East, Middle East and Asia. TABLE OF CONTENT Preface 4 Acknowledgement 5 Executive summary 6 Sr. No. Particular Pg no. 1 Growth and evolution of diamond, gems and jewellery industry in India. 8 2 Product profile 9 3 Demand determination of the industry 12 4 Players in the diamond, gems and jewellery industry 13 5 Distribution channel in the industry sector 16 6 Key issues and current trends 20 7 PESTEL analysis 23 Growth and evolution of diamond, gems, and jewellery industry The Indian Gem Jewellery sector is one of the most active and fast growing sectors of the Indian Economy. The fact that India is the worlds largest source for trained, skilled and adaptive manpower along with liberalised government policies that provide a helpful environment for joint businesses, is what contributes to the continuous growth of this sector. causal around 19% to the overall Forex kitty of the country, the industrys growth over the years, Set-up in 1966, the GJEPC has over the years effectively moulded the increase efforts of individual exporters to make the gem and jewellery sector a powerful engine driving Indias export-led growth. This height body of the gem jewellery industry has played a major role in the evolution of the Indian gem and jewellery industry to its present stature. From being the worlds largest manufacturer of cut and polished diamonds to becoming the leading international trading center, Indias gems and jewellery sector is now set on a growth way. The exports grew by 38% to $14,329.23 million for January-December 2004 period as compared to $10,392.83 million in the related period the last year. GJEPC aims to boost exports of gems and jewellery to US $20 billion by 2007 and develop India as the only one-stop-shop for gems and jewellery. Also, on the anvil is the Bharat Diamond Bourse, one of the largest monoliths ever to be built in Asia. The Bharat Diamond Bourse is an urban conglomerate of place, people and activities pertaining to diamond trading. Built to provide world-class facilities to the members of the Indian diamond community, the compound aims to enhance the already largest position of the Indian diamond industry in the world market PRODUCT PROFILE GILI Gili jewellery is high quality, fine finished, machine-made, branded, diamond-studded, designer jewellery including pendants, earrings, rings and bracelets in 18k gold studded with small, well-cut, good quality diamonds, as matching sets or by themselves. The average sale price is around Rs.15, 000. Brand Values Gilis brand values are genuine diamond and gold jewellery at reasonable prices. The Brand personality is difficult, animated, competent, confident, extrovert, self made, successful and reliable. Noteworthy Gili was the brand that in India important Valentines Day to the date from it being just another date on the calendar. First jewellery brand from India to participate in Basel 2000, the Worlds biggest jewellery and watches show held in Switzerland. In September 2011, M/s Brand Finance PLC (UK) valued Gili at rs 1018 crores. Nakshatra Nakshatra is a circular cluster comprised six to nine stones, with the central stone larger than the stones close it, signifying a constellation. It is a modern, fashionable rendition of the traditional seven-stone Thodu and the Kuda Jodi jewellery, which are traditional Indian floral designs. The combination of traditional charisma and current style helped it gain acceptance with women across age groups. Brand Values Overt Nakshatra brand values include beauty, radiance, class, elegance and quality. Amongst the symbolic values are femininity, celestial splend our and unknown. Each design is a stylized interpretation of the basic traditional kudajodi which is believed to be positive, showering the wearer with blessings and good luck. Noteworthy The Nakshatra design is the only one to have general appeal amongst women across India. The diamonds used to make up the Nakshatra cluster were formed over 800 million years ago. In September 2011, M/s Brand Finance PLC (UK) valued Nakshatra at Rs. 1,014 crores. ASMI The design styling for the Asmi jewellery has always been that of wavy forms around a central rock of and above 5 points. It rightly personifies the woman of today and her inner fire. Asmi has under its support a range of typical, current yet reasonable designs in diamond jewellery. Brand Values From the outset, Asmi has aimed to fulfil every womans natural need for self-expression, and has lauded the Indian womans middle fire. Asmi is a brand that is for the woman of will, commemorating her success and inspiring her to achieve higher goals. It is an expression of the power of femaleness, indication of self-confidence, feelings and the middle spirit of a woman. The brand is also promoted as one that offers validity, Affordability expediency. Noteworthy A particular annual promotional event has always been organized on Womans Day, as the most suitable occasion to support and repeat the values and identity of the brand. In 2009, in association with FICCI Ladies Organisation, and an NGO- Fight Back, Asmi launched its Shakti Torch movement on the event of Womens Day 2009, to combat the problem of domestic violence in India. In September 2011, M/s Brand Finance PLC (UK) valued Asmi at Rs. 406 crores DDAMAS Ddamas has several sub-brands, each single in positioning gift. The brand also has items in all categories-rings, earrings, nose pins, pendants, bangles, bracelets, necklaces, Tanmanya, Mangalsutra, half sets and full sets. Each sub-brand under Ddamas offers stylized and fashionable designs, conceptualized and produced by an in-house team of award winning designers. Ddamas is perhaps the only jewellery brand that has offerings in virtually all product categories, across all price points, for all occasions and emotions, thus covering consumers across age-groups and demographic classes. Brand Values Ddamas embodies luxury and high aspiration, bestowing on the wearer an aura of exclusivity and modification. The vast variety of associated brands allows every customer a choice of jewellery to mirror her personality, tastes and to suit every time. There is gold and diamond studded jewellery matching various lifestyles, occasions and price points that cater to diverse customers. Ddamas is committed to the highest levels of customer satisfaction. Every piece of jewellery comes with a special certificate of validity that assures of both the diamond and the gold content in the piece. Ddamas jewellery is fully hallmarked and accompanied with a diamond certificate from IGI. Noteworthy Best Jewellery Designs- JCK and Vivah a Gold Jewellery In September 2011, M/s Brand Finance PLC (UK) valued Ddamas at Rs. 331 crores. Demand driver of diamond jewellery The demand drivers for the diamond processing and jewellery sector are as below: à ¢Ã¢â€š ¬Ã‚ ¢ Increasing acceptability of diamond jewellery in the domestic market: Traditionally, jewellery in India has mainly been gold jewellery. Diamond jewellery is lesser accepted in India due to factors such as myths associated with diamonds being unlucky in certain instances and the higher cost of diamonds. This is now changing with an increased acceptance of diamond jewellery in the domestic market. à ¢Ã¢â€š ¬Ã‚ ¢ Diamond as a fashion statement for the affluent: Diamond jewellery is increasingly serving as a method statement for the rich to differentiate themselves from others wearing traditional jewellery/gold jewellery. à ¢Ã¢â€š ¬Ã‚ ¢ Increasing affordability: Employment of women in the workforce has been increasing due to the changing mindsets and increasing education levels among women. This has resulted in women having more impact on the purchase decisions; and women having also started purchasing jewellery for themselves as against earlier trends of jewellery purchase being primarily a family decision. Increased disposable income for working couples and lifestyle changes have aided this. à ¢Ã¢â€š ¬Ã‚ ¢ Exports as a driver: As seen earlier, exports have been growing year-on-year and the 5 year CAGR (2002-03 to 2007-08) is about 13%. India currently produces around 95% of the worlds cut and polished diamond pieces. By carat weight, India is projected to process 80% Demand Drivers of à ¢Ã¢â€š ¬Ã‚ ¢ Value addition from processing to jewellery: Though India processes a large number of Diamonds; most of them are re-exported after polishing. There exists scope to increase value addition through setting into jewellery (jewellery manufacture). MAJOR PLAYERS à ¢Ã¢â€š ¬Ã‚ ¢ Gitanjali Group: The Gitanjali Group was founded as a single company cutting and polishing diamonds for the jewellery operate at Surat, Gujarat, in 1966. It has become a found among major diamond and jewellery houses. The Group has dumped jewellery trade convention by launching multiple brands for multiple markets and price segments brands include Nakshatra, Ddamas, Collection, Asmi, Sangini and Gili. It opened up distribution via superstores, department stores and other retail outlets at MRP, supported by international certifications of in principle tested clarity and validity, across India and in the worlds jewellery capitals. Operations of the Gitanjali Group span the world, all the way from USA, UK, Belgium, Italy and the Middle East to Thailand, South East Asia China, and Japan. à ¢Ã¢â€š ¬Ã‚ ¢ Su-Raj Diamonds Jewellery Ltd.: Su-Raj is resulting from contraction of two names viz. Suresh and Rajnikant, the founders of Su-Raj Group in the early Sixties. The company on hand its shares to the public in the year 1986 and became the first company in the industry to opt for public issue in India. This was a single step in an industry where traditional business environment exists. The companys operations are universal in scope and global in increase top all facets of diamond and jewellery manufacture and trading in rough and polished stones, at all key locations universal. à ¢Ã¢â€š ¬Ã‚ ¢ Suashish Diamonds Ltd.: Suashish Diamonds Ltd was incorporated in October 1988. Suashish is single in the diamond industry as it is one of the few players that have activities across value chain there by retaining higher margins. Its business activities include sourcing ofrough diamonds to selling finished diamond jewellery through its retail jewellery brand Ishis. Suashish has employed cutting border technology throughout its diamond and jewellery manufacturing processes. It has subsidiaries and intentional partnerships in all major markets. à ¢Ã¢â€š ¬Ã‚ ¢ Shrenuj Co. Ltd.: Shrenuj Company Limited and its subsidiaries take on in the manufacture and sale of diamonds and jewellery in India and internationally. The company operates in two segments, Diamonds and Jewellery. The Diamonds segment engages in cutting and polishing of diamonds. This segment offers polished diamonds in full cut and single cut rounds, as well as in fancy shapes, such as princess, baguettes, marquise, pear, oval, emerald, and heart in various colours and clarities. The Jewellery segment provides diamond Human Resource and Skill Requirements in the Gems and Jewellery Industry studded gold/platinum jewellery. The company was founded in 1906, is based in Mumbai, India and employs about 3,000 employees. à ¢Ã¢â€š ¬Ã‚ ¢ Tanishq: Tanishq is one of Indias principal jewellery brands. Started in 1995, Tanishq is the jewellery business of Titan Industries Ltd promoted by the TATA group. Tanishq has set up production and sourcing bases with through research of the jewellery crafts of India. Tanishq today is Indias most aspirational fine jewellery brand with 91 stores in 64 cities, with an exquisite range of gold jewellery studded with diamonds or coloured gems and a wide range of equally amazing jewellery in 22Kt pure gold. Exquisite platinum jewellery is also part of the product range diamond Gems and Jewellery Gitanjali Group Shrenuj Company Suraj Diamonds and Jewellery Limited Rajesh Exports Asian Star Titan Industries (Tanishq into sell), Bangalore Suashish Diamond Rosy Blue B. Vijaykumar Laxmi Diamond K Girdharilal C. Mehendra Exports J.B Brothers Tara Ultimo Vaibhav Gems, Jaipur Sheetal Manufacturing Major players Companies Market cap (rs in crore) Shree Gan. Jew 720 Goldiam intl. 75 SRS 589 Thangamayil jew. 434 Renaissance jew. 135 Shrenuj co 489 C.mahendra exp 476 Gitanjali gems 4479 Titan inds 27184 Rajesh exports 3719 Goenka diamond 921 Tbz 1813 Classic diamond 16 Kanani inds. 360 Winsome diamonds 346 Vaibhav global 278 Key Issues of the Sector Unorganised Sector The gems and jewellery sector in India is unorganised and opening. Around 90% of the players operate in the unorganised sector mostly in family-run operations. The nature of the sector prevents it from achieving economies of scale. Also, being largely unorganised, the sector mainly uses labour-intensive and original technology that affects their growth projection. Further, the sector finds it difficult to add to their global competitiveness due to difficulties in adopting technology as a result of poor financial capital and high labour costs per unit. Threat from China Currently, China is the second-largest diamond processing centre in the world after India; however, it is slowly communicable up and is bullying to displace the Indian gems and jewellery sector from its dominant position in the world. The labour cost in China is the lowest, just like in India; however, the gap between the two countries is narrowing slowly. Besides, the Chinese economy is growing fast and is creating a demand for gems and jewellery in the domestic market. Further, many diamond manufacturers from Belgium and Israel are setting up manufacturing plants in China. India also faces risk from China in terms of knowledge adoption, which allows China to process diamonds at a more competitive price. Predominance of the US market The Indian gems and jewellery sector is pre-dominently dependent on the US market, which is its top export destination. The growth of gems and jewellery sector is closely dependent on the growth of demand in the US market. However, the recent appreciation of the rupee in relation to the US dollar and a slowdown of the US economy have forced the concerns for the sector. All these factors need Indias venture into other geographical locations. During FY07, the exports to the US market registered a growth of 14% over exports of FY06; however, owing to the slowdown in the US economy, the exports grew only 1.15% in FY08 over the previous year. In the current situation the heavy dependence on the US market has affected the exporters as they are facing a drop in orders and delayed payments. Exchange Rate/Currency Risk The gems and jewellery sector is affect by the rupee/dollar exchange rate because it is export-oriented. Any instability in the exchange rates affects the margins of the players. For instance, the recent approval in the rupee against the dollar had made the exports of gems and jewellery less competitive in its key export destinations. High Level of Inventories As the gems and jewellery sector is highly dependent on imports for its raw materials, the players have to maintain a high level of inventory. However, maintaining this inventory becomes difficult for the players during the drooping season, as it carries inventory price risk. For instance, due to the current recessionary trends, the demand drooping and inventory piled up much to the chagrin of the players. Decreasing Diamond Reserves The supply of rough diamonds is likely to fall in the near future as the diamond reserves are decreasing. There has been no major diamond keep discovery since 2003, when assets were last discovered in the Diavik Diamond Mine in Canada. The complete supply will push up the prices of rough diamonds, which will further put pressure on margins. Future supply levels are largely needy on the industrys ability to identify new diamond deposits. Competition from Other Luxury Goods With the increase in disposable income and the change in standard of living, the demand for luxury goods such as perfumes, consumer electronics, leather, automobile, gadgets etc are also increasing. The gems and jewellery sector is experience competition from these luxury goods, which is eating into the market share of the division. Beneficiation in Mining Countries India is facing a threat from the emerging cutting and polishing centres in the diamond-producing countries such as South Africa, Ghana, Angola, Botswana, Namibia etc. The local government is increasingly pressurising the African countries for processing locally-mined materials such as diamonds within the country itself to increase earnings through value addition to the vast natural resources that these countries possess. South Africa has launched a draft Beneficiation Strategy for the minerals industry of South Africa in March 2009. The newly-formed African Diamond Producers Association (ADPA) is advocating establishing a joint policy that would support beneficiation across Africa. This could lead to fewer rough goods being made available on the open market and in creating a threat to the existing diamond processing centres such as India, as new processing centres comes up. Global Economic Slowdown The global economic slowdown has hit the Indian gems and jewellery division hard. As the sector was primarily dependent on exports to the US and European countries, the meltdown in these countries affected the gems and jewellery sector to a great extent. The players faced issues relating to inventory build-up and liquidity pressure. A number of diamond units in Gujarat were shut down that render thousands of workers jobless. Further, the bank finance, which was largely in dollar terms, also faced a delay due to foreign exchange rate fluctuations. This further added to the woes of the players who were full to come out of the global depression. Even though the sector is in the recovery mode, owing to a gradual recovery of global markets, the credit cycle of the sector has changed severely. The delayed payments from customers have raised the interest outflows for the companies. Synthetic Diamonds The sector also faces a face in the form of integration of artificial or man-made diamonds. With the start of technology, it is difficult to discriminate between natural and synthetic diamonds. It may so happen that the imitation diamonds are accepted on as real diamonds and in the long run, this could affect the authority of the sector. Further, as unreal diamonds are much cheaper and identical to the synthetic diamonds, these diamonds may find customers that is a reserve to the natural diamond and may finish positive eating into the market share of the diamond industry. Issue of difference Diamonds India is the largest importer of rough diamonds and a leading player in cutting and polishing of the same, therefore, it runs the risk of dealing with conflict diamonds. Conflict diamonds are those that are mined illegally in African countries such as Angola, Liberia, Sierra Leone and the Democratic nation of Congo to fund illegal military wars. In spite of the KP certification, there an issue related to fake KP certificate. These fake certificates put diamond importing countries at a risk of dealing in variance diamonds. Opportunities for the Sector Entering New Markets The US has been the major market for Indian gems and jewellery sector over the years. However, with the current global delay, the dependence on the US market has unnatural the Indian gems and jewellery sector tremendously. The sector is exploring new locations to vary business and to minimise the risk. Russia, Middle East and China are few of the rising destinations that are witnessing an increase in jewellery demand. The Indian gems and jewellery players can tap these countries to diversify and increase their business. Cutting and Polishing of Large-Sized Diamonds India is one of the leading diamond processing centers of the world. Indias vast, low cost and very skilled workforce provides it with a competitive edge over other countries. However, it is largely involved in cutting and polishing of small-sized diamonds, which weigh less than one carat. Indias cut and polished diamond exports have a high universal share in terms of number of pieces; however, in terms of value the share is much lower. By moving up the value chain and processing larger stones India can further increase its value share in total exports. Large diamonds are less generally set up in nature. Therefore, the price of a diamond rises exponentially with its size. Indian exporters who have authority in processing of small stones have already started moving into cutting of large and medium size stones. For moving up the value chain, the industry should try forward and backward integration. Hence strategic alliances with producers of roughs and retailers of jewellery could lead to higher market share. Given Indias low cost and skill labours, there exists an chance for processing large stones, which will provide the players with higher margins as well as rise in realisations on capex. Value Addition There exists a huge chance for Indian players to do value addition to the processed diamonds and to export diamond studded jewellery. India is already a leader in processing small-sized diamonds and it also has natural capabilities of manufacturing hand-crafted jewellery. Further, with its dominance in processing small diamonds, India has an advantage of manufacturing reasonable diamond jewellery for the world market. Jewellery Retail The Indian retail sector is increasing fast. This provides an excellent chance for the Indian players to manufacture and sell their jewellery through the retail channels that are fast catching up in the Indian markets. Further, this move will also provide an organised structure to the largely unorganised gems and jewellery sector and lead to further growth of the sector. Outsourcing core India can become an outsourcing hub for design and manufacturing jewellery. There is an increased trend of outsourcing design with manufacturing of jewellery from India by global retail players such as Wal-mart and JC Penny. The players in the area can tap this opportunity to expand business, reduce risk and increase revenues. View point The vision for the gem and jewellery sector is positive. On account of the global recovery, the Indian gems and jewellery sector is also on a recovery mode. In December 2009, the exports from the sector grow by 45.35% as compared with the same period in 2008. According to GJEPC, the players received good orders for Christmas in 2009, which indicates a slow recovery for the sector. The positive trend is expected to continue, as major economies are showing signs of recovery, which is resulting in fresh orders for the sector. Further, the gems and jewellery sector is also expected to grow in the domestic market, going forward. As the per capita consumption of jewellery is low in India, there exists an attractive opportunity to tap the domestic market. ANALYSIS EVALUATION OF DISTRIBUTION CHANNELS IN VARIOUS SECTORS The project involved analyzing and evaluating distribution channels of various companies belonging to sector. 1. Precious and semi precious stones, 2. White goods, 3. Cement, 4. FMCG Methodology: This research comprised of activities like listing down various agencies like manufacturers, distributors, etc and also chambers and libraries like the Indian merchant chambers and interacting with them in order to collect first hand information. PRECIOUS AND SEMI PRECIOUS STONES The Indian Gems and Jewellery industry is an age old industry and comprises mainly of two types of markets, viz the controlled sector and the unorganized sector. The organized sector with celebrated jewelers, Public Sector Units (PSUs), etc forms only 10% of the precious and semi-precious stones market, whereas, the unorganized sector forms 90% of the gems and jewellery market in India. The unorganized sector employs around 1.5 million workers serving over 0.1 million gold jewelers and over 8000 diamond jewelers. Precious and semi-precious stones industry is a main earner of foreign exchange. This sector contributes around 17% of Indias exports. The bulk of the Indian gems and jewellery exports comprise imports of rough diamonds, cutting and polishing in India, and re-exports. Cut and Polished Diamonds (CPD) and gold Jewellery account for nearly 95% of Indias gems and jewellery exports. India is the worlds leading diamond cutting and polishing center, accounting for 53% share of the global polished diamond market in terms of value. India imports gold from South Africa, Switzerland, Australia, Hong Kong and UAE. The domestic consumption of diamonds have been 626.9 crores in 2001-02 to 483.4 crores in02-03 and reached and all time high of 1771.3 crores in 2003-04 and the trend has continued in 2004-05 as well. The market size has also witness a rise of around 10% in 2003-04 over 2002-03. The value of domestic sales has been 7200 crores, 7400 crores and 7650 crores in 01-02, 02-03 03-04 respectively. Exports of cut and polished diamonds has been 5892, 7385 and 8240 million dollars in 01- 02, 02-03 03-04 respectively, whereas, exports of Jewellery studded with diamonds has been 553, 719 and 934 million dollars in 01-02, 02-03 03-04 respectively. Consumer Demographics Buying Patterns of Indian Consumers There is a very high consumption in the western and the northern markets of India, viz, Mumbai and New Delhi, New Delhi being the head. In India, the purchase of Jewellery is quite regular and occasion driven. There is a higher consumption during festivals like Diwali, Dassera, Ganesh Chaturthi, etc. and also during the marriage season, which is spread from November to March. Mechanics of Distribution Channels of Sector Since precious and semi precious stones industry is divided into organized and unorganized sector, the mechanics of the distribution channels of the players belonging to these sectors has also been different. Nationally, the branded jewelers of the organized sector cater to the consumers via a 1 or a 2 level supply chain which comprise of either only franchise retail outlets and other retails or wholesalers and then retailers. The players of the unorganized sector, on the other hand, either plainly sell their manufactured products to retailers or have branch offices in cities where the products are transferred and sold to end consumers or to retailers in the particular city. Web: www.beemanagement.com Email: [emailprotected] Web: www.astrategies.com Email: [emailprotected] December 2005 Copyright  © 2005 Bee Management Consultancy Pvt. Ltd. 2 Raw diamonds and other Jewellery is imported from sources, manufactured and polished here and either shipped or transported by air to the final destination In exported countries the products are either transferred to retailers who are clients or to branch office who in turn sell it to the retailers. Whether domestic sales or exports overall, the levels of mediators in the gems and Jewellery industry do not really exceed 2 to 3 levels. This report contains detailed analysis of renowned Gems and Jewellery companies. The PESTEL analysis The macro environment includes all relevant focus outside a companys margins relevant in thesense that they are important enough to have brought on the decision. A business finally makes about its business model and  strategy.   Companys strategy may be needed for answer it. Micro environment includes all general force that does not directly  touch on  the short  run activities  of the  organization but  that can  and  often  does,  in dulgenceits also ran decisions. Political Factors:- The Government of India (GoI) has been working to develop the Diamond industry in India through several initiatives but under the purview of Diamond industry. The main political factors are as follows. à ¢Ã¢â€š ¬Ã‚ ¢Excise duty: In the budget of year 2008-09 government decrease excise duty from 10% to 5% on cut and polished diamond units. à ¢Ã¢â€š ¬Ã‚ ¢Marketing  and  control  orders:  Import  of  rough  diamonds  illegal  by  the Jewellry  export Promotion Councils .The Council provides market information to its members about foreign trade inquiries, trade and tariff regulations, rates of import duties, and information about Diamond fair and exhibitions. à ¢Ã¢â€š ¬Ã‚ ¢FDI approva

Management Proposal :: Management Report Summary

Management Proposal Deep-well drilling has been around for centuries. Over the years, different techniques have been developed in order to improve the efficiency of drilling in a number of different geographical locations. Today’s deep-well drilling industry revolves around the use of bits. In order for this company to be proficient with time and money, it is essential to use bits that are tough enough to withstand impact, while at the same time still possessing a hard surface to protect it against wear. Case hardening will be the method of choice because of it’s well known ability to create the desired effects of hardness and toughness. Case hardening is a process in which low-carbon steel or iron is carbonized at the surface. The carburized steel part must be machined first in the soft condition, and then hardened by a case hardening treatment to create a hard outer layer. The type of heat treatment used will depend on the contents of the steel. A typical steel alloy for all-around structural purposes is composed of 0.35% carbon. For our case, we will use a chromium steel combination known as No. 5120, which is a much better quality alloy than carbon steel. The casehardened tool we seek to make will need to be able to withstand high stress impacts and have a hard durable surface to prevent the bit from breaking. Chromium-steel No.5120 is intended to fulfill these exact specifications. The desired levels of carbon and chromium are 0.20% and 0.75%, respectively. In order to accomplish this, the correct heat treatment must be applied. A proven affordable method of casehardening is gas carbonizing. The objective of gas carbonizing is to force a flow of carbonaceous gas between the two plates. The result is a penetration of carbon in less time. The plates are heated by electricity, which allows for a more uniform carbon penetration. The best-known carbon gas used for this process is carbon monoxide because of its ability to rapidly penetrate the metal. A side effect of carbon monoxide is an oxidizing effect that might harm the casehardened metal. To avoid this, the work is packed with wood charcoal in a cylinder. It is then heat ed to the carbonizing temperature and, a current of carbon dioxide is infused into the cylinder. After the metal has been gas carbonized between 1650 degrees F.

As I Lay Dying: The Love Of Family :: essays research papers

Ah, love. Love is so often a theme in many a well-read novel. In the story, As I Lay Dying, one very important underlying theme is not simply love, but the power to love. Some of the characters have this ability; some can only talk about it. Perhaps more than anyone, Addie and Jewel have this power- one which Jewel, by saving his mother twice, merges with his power to act. As the Bible would have it, he does "not love in word, neither in tongue; but in deed and in truth" (1 John 3:18). Jewel, Addie's son by Whitfield, is 18 years old. Like Pearl, the product of Hester Prynne's adulterous affair in Nathaniel Hawthorne's novel The Scarlet Letter, Jewel's name is a symbol of the value his mother places on him. The favoritism that Addie showed him is responsible for the antagonism between him and Darl. Jewel personifies Addie's preference for experience over words. He is always in motion. He expresses himself best through actions. When he verbalizes his love for Addie- in his single monologue- he does so with a violent fantasy about hurling down stones on outsiders. Elsewhere, he expresses his love for her through deeds, not words. While Addie lies dying on her corn-shuck mattress, Darl convinces Jewel to take a trip with him to pick up a load of lumber. Darl knows that Jewel is Addie's favorite child. The trip for lumber is a contrivance- Darl's way of keeping Jewel from his mother's bedside when she dies. A wheel breaks on the wagon, and before Darl and Jewel can replace it, bring the wagon home, and load Addie's body onto it for the trip to Jefferson, three days have passed. By this time, heavy rains have flooded the Yoknapatawpha River and washed out all the bridges that cross it. The river is vicious, and the Bundrens' mules drown. The wagon tips over, and. Jewel, on horseback, manages to keep the wagon and its load from drifting downstream, saving his mother’s decomposing body. When the family finally makes it through the ordeal, they spend the night at the Gillespies' farm. Darl sets fire to the barn where Addie's body is stored in an effort to spare his mother. However, Jewel once again saves her coffin with a heroic act.