Development of Agriculture in Nigeria

Since 1974 the Bank has committed $1. 2 billion for Agricultural Development Projects (ADPs) to increase farm production and welfare among smallholders in Nigeria. OED reviewed five ADPs and a supporting Agricultural Technical Assistance Project (ATAP), all implemented between 1979 and 1990. Only two of the six projects had satisfactory outcomes. In general, rainfed agricultural production was far below projections. Macroeconomic conditions, some national policies, and particular design and implementation problems prevented a more significant impact. Low-cost irrigated development of lowland areas (fadama) was, however, quite successful. Village water supply components exceeded their targets. The ADPs have evolved to be â€Å"permanent† institutions for rural infrastructural development and agricultural services, but their role vis-a-vis the regular state departments needs to be reviewed. ADP concept The ADPs were designed in response to a fall in agricultural productivity, and hence a concern to sustain domestic food supplies, as labor had moved out of agriculture into more remunerative activities that were benefitting from the oil boom. Conversely, domestic recycling of oil income provided the opportunity for the government, with Bank support, to develop the ADPs. The projects provided agricultural investment and services, rural roads, and village water supplies. The government's adoption of the ADP concept put the smallholder sector at the center of the agricultural development strategy, and marked a clear shift away from capital-intensive investment projects for selected areas of high agricultural potential. The first ADPs in Nigeria were enclave projects each covering a specific region within a state. Their early results impressed both the federal and state governments, and there was pressure to replicate the approach across whole states. By 1989 all Nigeria's then 19 states had ADPs. (See Box. ) Two of the projects audited–Ilorin and Oyo North–were enclave projects, and were located in the â€Å"middle belt† of Nigeria whose main crops are rainfed cereals and root crops. The three other ADPs audited–Bauchi, Kano, and Sokoto–were statewide projects in Nigeria's northern zone. Cropping in his zone is based on rainfed cereal crops and pulses, with localized areas of fadama in drainage lines that can support higher-value crops. The northern ADPs applied an expanded version of the same model used in the earlier enclave projects in this zone. This model demanded large amounts of capital and services and intensive management. With hindsight, not enough thought was given to the implications of the large increase in scale–or indeed to the less fav orable production environment than existed in the smaller enclaves. Goals, content All the five ADPs sought to increase food production and farm incomes. In all of them it was assumed that productivity increases would come from the use of improved technology, especially planting material and fertilizer. The agricultural components of the projects were designed around systems for developing technology and transferring it to farmers, distributing modern inputs, and land development including small-scale irrigation of fadama areas and land clearing. Investments in infrastructure included an expanded feeder road network, construction of farm service centers for input distribution, and facilities for ADP staff and operations. All projects except that in Ilorin supported improvements in rural water supplies. To support its agricultural development goals the federal government introduced controls on food imports and continued its substantial subsidies on farm inputs, particularly fertilizer.

Importance of Reading Essay

Reading has at all times and in all ages been a source of knowledge, of happiness, of pleasure and even moral courage. In today’s world with so much more to know and to learn and also the need for a conscious effort to conquer the divisive forces, the importance of reading has increased. In the olden days if reading was not cultivated or encouraged, there was a substitute for it in the religious sermon and in the oral tradition. The practice of telling stories at bed time compensated to some extent for the lack of reading. In the nineteenth century Victorian households used to get together for an hour or so in the evenings and listen to books being read aloud. But today we not only read, we also want to read more and more and catch up with the events taking place around us. The various courses and classes being conducted in rapid reading support this belief. The amount of reading one should get through is of course nobody’s business. There is no end to it for there is a variety of subjects to read about. The daily newspaper or the popular magazine while it discusses topical issues and raised controversies, it also provokes thought and throws light on human nature. It brings the news of wars, rebellions, organizations, political stances, heroic deeds etc. , together and helps knit a world of some sort. There is then the serious reading undertaken for research and for satisfying one’s longing for knowledge. It may be a subject of scientific significance, or a subject of historic or philosophic importance – varying according to the taste of the person. This kind of reading disciplines the mind and trains one for critical and original thinking. There is yet another kind of reading -reading for pleasure. Though serious reading is also a source of pleasure, reading which is devoted mainly to it differs in one respect. It grows upon one, it gives before demanding and it soothes and relieves tension and loneliness. The only kind of reading which neither stimulates thought nor provides knowledge is one which is approached negatively, with the simple motive of escape and of â€Å"killing† time. A person who is widely read is able to mix with others: he is a better conversationalist than those who do not read. He can stand his ground. Reading broadens the vision. it is in a way a substitute for travel. It is not possible to travel as much as one would like to and reading can fill in the gap created by the lack of travel. â€Å"Reading†, as Bacon wrote in his essay. ‘Of Studies’. â€Å"maketh a full man: conference a ready man: and writing an exact man†. Thus a widely-read man is a better conversationalist and is able to see the other point of view. Literature is a form of art which can cross barriers and if one does not know the language in which a piece of literature is written, one is willing sometimes to learn the language. Even if one does not learn a language one reads the literary work in translation. This contributes to the growth of understanding and tolerance amongst people. Reading also helps one to see the present in relation to the past and the future, and thus develop a historical perspective. Care is needed to ensure that reading does not become a substitute for real life. The moment one ceases to enjoy the ordinary pleasures and happiness of life and is content to enjoy them vicariously through fictional and historical representations, one loses all the benefits of reading and loses contact with life. With the cinema and television taking up a great deal of attention of children, teenagers and even adults, the habit of serious reading is dying out. People are content to read abridged versions. see films, go through illustrated comics and be content. But just as reading should not become a substitute for the joy of living or drive out the other forms of entertainment, other substitutes should not be accepted for the pleasure of reading which lies in the act itself. One may be selective, may be discriminating but no one can afford to shut himself off from this rich and ever-growing world of literature.

Amazon.com

Amazon’s model is not suited for their perpetual growth in coming years. Amazon must consider investing some of its substantial cash reserves to diversify its portfolio of businesses to help protect them against the ever-changing technological and consumer patterns by creating new avenues for revenue growth. Amazon posted a small but unexpected loss in the second quarter of 2013, as it continues to spend heavily on fulfillment centers and digital content. Amazon.com lost $7 million, 2 cents a share, after earning $7 million, 2 cents a share, a year earlier. Amazon can roll out an online payments option that lets shoppers make purchases on websites by logging in with their regular Amazon accounts. Their very own service such as PayPal. By doing this they will benefit their company the most because in the past customers had to separately enter their account details for each purchase made at one of Amazons third-party retailers. Now, Amazon could enable companies to make millions of Amazon customers their customers by inviting online shoppers with Amazon credentials to access their account information safely and securely with a single login. This alternative will also enable Amazon to have a better control on their customer base. The only drawback of this alternative is that Amazon will encounter competition from services such as PayPal.

Impact of e-Business initiatives on firm value Annotated Bibliography

Impact of e-Business initiatives on firm value - Annotated Bibliography Example The study reveals that the cumulative abnormal return for such initiatives ranges from 3.5% to 4.74% in the first five days. Another significant finding is that the abnormal returns are higher in the e-business initiatives of business-to-consumer firms than that of business-to-business firms. The explanation for this claim is found in the ‘firm size effect’. It is found that higher abnormal returns are created in small-sized firms. As business-to-business firms are generally bigger than business-to-customer firms, it is claimed that the latter will gain more abnormal returns in the e-business initiatives. Thus, putting an end to the long ambiguity regarding the profitability of e-business initiatives, the study came up with the finding that it is highly beneficial to the firms because it offers future benefits to the firms in the form of increased market values. The reason, according to the scholars, is that such aggressive steps are often considered as futuristic by stakeholders and other public. Thus, such firms escape the usual bandwagon effect. Admittedly, there were previous studies which proved that e-business initiatives positively affect the value of firms. However, the present study stands apart for showing the various effects of e-business initiatives based on the nature of the initiative and the nature of the business. The strength of the study lies in the fact that it investigates the issue in two different capital markets; namely KSE and KOSDAQ. However, there are some findings which contradict the findings in American market. For example, while the e-business expansion of an established e-business company makes more positive effect than the e-business initiative of a non-internet firm in the U.S, the opposite is true in Korea. Similarly, though the study hypothesized that the abnormal returns are linked to the layer to which the

My summer place(after I read once more to the lake) Essay

My summer place(after I read once more to the lake) - Essay Example My two brothers and I would visit Crystal Lake twice a year, usually during our summer break. The years had passed, and the inevitable had happened, we had all grown apart. One of my brothers moved to the east, the other to the west, and we hadn’t spoken in quite some time. It was the morning of my birthday. I was staring out the window at the rain pouring from the ceilings of the heavens, covering the streets turning them into a swarm of distant rivers. I lay on my bed dreaming about the calmness of the lake and the never ending beauty that I for so long had seemed to have forgotten. For it was now only a dream inside my empty soulless mind. Too many years had passed and too many things had been forgotten. The memories were now merely a torn out page of an old book I had lost. And I too, just like that book, had been lost as well. The thoughts circling around in my head, like a dusty wind storm, started to give impressions of eagerness. I knew deep down inside me, that I couldn’t just sit here, on my birthday, again. I collected all of my unorganised thoughts and compiled them into one, sensible plan. I decided that I would venture off back to Crystal Lake. If I didn’t go, I knew I would eventually be driven to insanity. I also determined that I would give my brother’s a call. I hadn’t spoken to them in years, but I knew that Crystal Lake wouldn’t be the same as it was back when we were young without them. Unfortunately, neither brother was home when I called, so I left a message on their answering machines. I informed them that I would be returning to our spot, although I doubt they cared. But that wouldn’t stop me. I would still go on my quest back to Crystal Lake. I packed all of the relevant camping equipment, my large tent which I had kept all these years, together with an assortment of blankets. I had never been much of a fisherman, so I decided to prepare some food to take with

Brands that needs to identify the segmentation, targeting, and Essay

Brands that needs to identify the segmentation, targeting, and positioning strategy - Essay Example Kellogg cornflakes are the popular breakfast cereals in Hong Kong which became more familiar with breakfast cereals. In busier lifestyles it makes a good choice for quick and healthy breakfast. In 2013, breakfast cereals were expected to enjoy high growth prospects of 9%. In the year 2012 the growth of industry was down due to economic downturn in the country. The brand Alphen is very popular in Hong Kong for breakfast cereals. The product it deals with was chocolates. It expanded its brands with breakfast cereals like muesli bars and cereals. The brands have created an image on the mind of customers. It also includes improving customer’s perception about the brand and to be informed about the product that are to be launched. The brand also requires a good understanding of competing products and the benefits of targeted market. The products basically target those customers who have busier lifestyles as well as the children. It is a good source of nutrients for both children and adults. The brands have a variety of products for the consumers and they can choose any one of the products. The products are comparatively less costly than Kellogg corn flakes. It has different groups of customers to target (Proctor, 2013 pp. 75-88). This helps to group the customers into segments that have a common need and will response in marketing actions. It offers alternate growth and profit opportunities. The brand focuses on the characteristics such as age group of the customer for making segmentation among the customer group. It has also focused in the customer’s lifestyle and everyday busy schedule which make this brand very popular among them. The brand has different products for different age groups. Kellogg has a very dominating position in breakfast cereals, accounting from 71% to 72% value shares in 2012 and 2013. The company is present in the country with huge variety of products as well as with efficient and distribution network. Consumers can easily find

Summary Essay Example | Topics and Well Written Essays - 500 words - 38

Summary - Essay Example Though none of the children managed to end up heroically and simply followed their elders, they both survived the war and saw its end. Therefore their actions cannot be referred as something trivial. The story begins in a flashback note where the events of Bloody Sunday (1965) were recollected. The two girls recollect their experiences in the three months of their lives in 1965. These events and experiences are presented in the form of interviews suitable for newspapers. The book does not focus on a detailed version of what happened during the time nor does it emphasize upon the day-to-day experience of the girls but the records are based upon oral history style. Around forty interviews were conducted by Frank Sikora, journalist, and the venue was mostly domestic in nature including the living rooms and kitchens in the George Washington Carver Homes conducted over a span of 1975 to 1979. The discussion has been presented as the interviewer mentions according to what he learnt from th em, their speech and feelings during their experience. Selma observed that her recollection was like writing her own story and for Rachel it was like holding a conversation with the Blessed Virgin Mary. They were not aware beforehand joining the thing was not formal – â€Å"You didnt enlist. You just were, or you werent† (Webb, Nelson and Sikora, 3). But after observing the crowd for sometime, Selma joined the movement willingly. The idea behind interrogating two young ladies, who experienced the time as children while there were several known personalities as well, is that Sikora wanted to bring out those unknown faces that faced the similar experience of violent, arrest and torment as the elders. The two girls could therefore represent the other children form the other towns as well who went through similar experience but whose names have not been officially

What role does equality play in socialist ideology Essay - 1

What role does equality play in socialist ideology - Essay Example Under this ideology, social and economic surplus achieved through socialist philosophy is allocated to labourers in the working class equitably and where political and corporate systems become decentralised. Thus, under this practical definition of socialism, equality not only plays a powerful role in socialist doctrine, it is the foundational imperative of the ideology. Equality, both socially and economically, underpins the foundation of socialist thought. Under most socialist models, the philosophy is an evolution from attempts to block or otherwise emerge from capitalist ideology which, during the 19th Century, began to dominate many international economies experiencing economic growth born of the Industrial Revolution. Capitalism, by design, applauds the emergence of the profit-seeking corporation in which capital assets, including industrial machinery and factories, are controlled by either private citizens or private businesses (Degen 2008). Gains on capital assets and paid labour are then allowed to accrue to serve the utility of private ownership supported by various pricing mechanisms as the foundation of allocation of capital goods (products and services) which is unequal depending on economic resources of the consuming public. Socialist ideology, on the other hand, especially with the more revolutionary Marxist school of thought, considers capitalism to be extravagant and utterly inefficient as allocation of capital goods produced is disproportionate to satisfying the needs of a broader society and labourers are deemed to be exploited to ensure surplus of production is available for private owners. Socialists reject disparate allocation of produced and natural resources and prefer social ownership of capital assets to maximise the utility of majority society (Degen 2008). This is akin to a form of act utilitarianism in which maximising majority utility, even when requiring some self-sacrifice, are mandates (Hooker 2001; Kagan 1991). Thus,

Growth as grotesque Essay Example | Topics and Well Written Essays - 2500 words

Growth as grotesque - Essay Example There are many ways in which an object may be grotesque; however, all of these ways stem from the fact that the very thing that makes an object grotesque is the fact that there is something about the object that clashes with our perceived ideas of normality: â€Å"While consistency of grotesque forms is clearly not to be had, certain elements seem to appear more frequently than others† (462). Inherent in this is the idea that the grotesque’s existence is dependent upon the existence of so-called â€Å"normality.† In other words, the grotesque cannot exist without normalcy. In this way the grotesque can be viewed as an outgrowth or extension of that which is considered to be normal. All of the ensuing works present aspects that illustrate an augmentation of a pure form; that is, they contain subject matter that is anomalous to what is considered a normal state of existence of the given subject. All of the images initially appear as out of the ordinary, possibly even freakish in that they obviously lie outside any perceptions of normal aspects of their existence, yet upon a more scrutinized look, remain in a standard setting which would be part of our standard association with typical and conventional forms of our understanding of reality and the everyday. This feature catches us off guard and disturbs us in the same way any alteration of ones usual expectations does. An unexpected downpour of rain, the unpredictability of the stock market, even such a mundane situation as a friend showing up at your door unexpectedly, all cause us fear and anxiety in that they twist our usual expectations of the established convention of the flow of life. Equally important are the intricate details of what embodies such unassumed forms, bastard forms on a pure surface. It is this feeling, a certain ambivalent sense of push as well as pull. It is at times disturbing, yet simultaneously comforting. It is anxiety and serenity, like a sickness working its toils within the

Forensic Accounting Review Questions (Easy) Essay

Forensic Accounting Review Questions (Easy) - Essay Example Either the management or the accounting team are the most prone to engaging in these acts. Lack of business ethics and personal morals are the breeding grounds for these fraudulent activities. It has been clear that individuals engage in fraudulent activities because of diverse motivations and stimulations. When it comes to revenue fraud, the likelihood is for the company to overstate and understate various parameters, we found that this is done by manipulating the sales, recognition of conditional sales, sale of consignments, misstatement of the percentage of completion, abusing of the cut off dates, unauthorized shipment and premature recognition of revenue. Concerning the same issue of revenue, the collusion by the fraudsters can result to situations such as understatement of bad debts, overstatement of ending inventories, overstatement of the assets’ worth, and understatement of the liabilities among other dubious means. All these aspects are under the motivation of the ne ed to cover up mistakes or misrepresentation of the financial position of the company. The knowledge acquired is very helpful to my future employer and me as an individual. In the workplace, we have diversity of people, some of whom can manipulate situations to their advantage. It is important to aware of what is ethical in the workplace in order to avoid being trapped on such situations. Sometimes the management may coerce an employee to engage in a fraudulent activity, without such knowledge one is likely to commit fraud unknowingly. Another thing is that lessons learnt stirred my curiosity in understanding business law; it has prompted me to start engaging this area since it can easily result to personal and organizational damages. In addition, it has opened my mind to the understanding business of dynamics, including the manipulations that are likely to be made in order to misrepresent information for a particular organization. The group was very influential in the understanding of the topic. I participated in the group activity by handling the section that I was assigned to research on and went ahead to help in the report writing. The group members were very cooperative hence facilitating timely achievement of results. I also presented a fraudulent case scenario that enhanced the understanding of the topic. The case had featured in one of the local dailies; it helped us relate very well what we learnt in class. Each member of the group completed the task assigned to them on time hence the ability of the group to finish the project on time. Despite the many lessons learnt some of the topic areas were challenging and presented some level of difficult. During the lecture sessions I found difficult in understanding the legal provisions of that are related to fraudulent activities. However, after extensive and repetitive reading I was able to comprehend the sub-topic. Question 2 Fraudulent activities are not easily identified, it is highly unlikely that a frau dulent activity will be realized unless the parties involved leak information or some auditing system unearths it. These are the likely means through which tips come along, without which it may be impossible to recognize a fraudulent activity. I do not think a fraudulent activity is recognized in the first instance. The high level of secrecy that is involved hampers the process of

Global Warming Fact or Fiction Essay Example for Free

Global Warming Fact or Fiction Essay Throughout their history, humans have witnessed all the environmental imbalances they have created in the world. The unstoppable technological advances of the world have greatly contributed to the enhancement of economic progress and improvement of the quality of life. However, the phenomenal growth of the economy and the increase of the standards of living are achieved at the expense of environmental destruction that is pressing the contemporary society. Hence, as human beings are the ones responsible for taking care of and preserving nature, they should impose certain limitations in their attempts to acquire economic progress in order to protect the environment. The pivotal change in the composition of the earth’s atmospheric condition gave birth to the term global warming, leaving the whole world unnerved of the damages it is currently causing and will continue to cause. However, we should consider if global warming is true or a mere product of our imagination. Some scientists argue that what we are experiencing right now is a natural occurrence and is a part of the earths climate cycle. Theorists believed that the earth is currently undergoing climate cycle, wherein the planet cools then heats up. Scientists pointed out that 75 million years ago, the earth experienced ten degrees higher than todays temperature, but still, life was sustained. On the other hand, there is a strong evidence that global warming is not a natural phenomenon but is a result of human activities. Global warming is progressing at a rapid pace, with its damaging effects leading the world more and more to its destruction (Hopwood and Cohen). Thus, this paper aims to present information that supports the claim that global warming is a fact and is threatening human life. Global warming is considered as the worst dilemma faced by humans as a result of their constant neglect of the environment. Global warming developed through the increased emissions of the noxious greenhouse gases resulting in an increase on the temperature of the earths surface (SciDev. Net). Global warming renders a variety of changes that affects the environment and the quality of life. As a result of humankind’s neglect and carelessness, the Earth is now experiencing extreme shifts in temperature which result in heat waves, irregular weather conditions, and rapid unfreezing of icecaps and glaciers located at the two opposite poles of the earth. As the ice caps and glaciers melt, the sea level rises, resulting in occurrences of coastal flooding. Causes of Global Warming The main cause of global warming is the widespread emission of greenhouse gases. Greenhouse gases are the natural blanket of the Earth located in the atmosphere. It traps some of the light to keep the surface warmer. Over the century, the Earths surface temperature increased by . 5 degrees Celsius and it was believed that this was due to the increased on the concentration of the main greenhouse gases, which are carbon dioxide, methane, nitrous oxide, and fluorocarbons (Hopwood and Cohen). The natural phenomenon was named â€Å"greenhouse effect† because it has a similar effect created by the glass panes of a greenhouse. The greenhouse traps the heat inside preventing large amounts of heat to go outside. The greenhouse gases selectively transmit infrared rays emitted by the sun. It traps some of the waves and permits some to travel in space. The greenhouse gases then bounce the infrared rays back on the lower atmosphere causing the increase in temperature (Hopwood and Cohen). Carbon dioxide is one of the main components of the greenhouse gases. It is produced and emitted in the atmosphere through the process of photosynthesis. Carbon dioxide is emitted when humans exhale, when fossil fuels burn for energy, and through the deforestation of the planet (Hopwood and Cohen). The release of carbon dioxide is a biological function among humans and other animals which have a similar respiratory system. Fossil fuels are formed through the decay of the plants and animals a thousand years ago. People utilize these fossil fuels in the form of coal, oil, and natural gas to create a supply of electricity, to heat their homes, and to run their cars. The fossil fuels contain carbon which, when burned, mixes with oxygen, resulting in the formation of carbon dioxide (Hopwood and Cohen). Other greenhouse gases accumulate in the earths atmosphere due to the negligence of people. As they continue to strive for economic progress, they reinforce the causes of the environmental dilemma that can lead the planet to its destruction (Hopwood and Cohen). Deforestation is another cause of the production of carbon dioxide. Deforestation occurs though logging for lumber, pulpwood and fuel wood. Another factor contributing on deforestation is farming new land, which involves developing forests into farmlands and pastures. Deforestation takes away trees that absorb carbon dioxide and release oxygen. The less number of trees in the forest, the less carbon dioxide will be processed and made available in the atmosphere (Hopwood and Cohen). Thus, global warming is caused by humans unstoppable emission of noxious gases on the earths atmosphere and the denuding of forests. At present, the status of global warming is progressing, rendering detrimental effects to the planet and its inhabitants. Effects of Global Warming The increase of the amount of greenhouse gases present in the earths atmosphere has negative implications on the earths environmental mechanism. These effects only signify the existence of the environmental dilemma. Due to global warming, the planet is experiencing imbalances our environmental processes. The earth is suffering from heat waves, sudden unusual shifts in weather, and changes in precipitation patterns. The odd patterns of precipitation reinforced by the rise of the sea level result in coastal flooding and take away the land where people live. This circumstance induces migration, causing the population of the inland cities to escalate (â€Å"Global Warming: Early Warning Signs†). Global warming also has a direct effect on our earths hydrosphere. The increase in temperature contributes to the rise of sea level. The rise of the earths waters results from the expansion of water due to heating and the melting of glaciers and ice caps in the North and South poles (Raper and Braithwaite 311). Global warming also affects the daily lives and lifestyle of the people. It also causes a chain of events that raises extreme concern from environmentalists who are anticipating the worst scenarios resulting from this environmental issue (Hopwood and Cohen). Global warming renders both negative and positive effects in our agriculture. As for its benefits to agriculture, global warming helps to increase food production. Since one of the determinants of agriculture is climate, it is suggested that heating is better than cooling. Moreover, carbon dioxide is one of the essential factors needed by plants in making their own food. As the temperature rises, more farmlands will be available on the poles and the length of the growing season will be prolong. However, extreme rise in the temperature will cause drought that affects our crops. Extremely hot temperatures also prevent some of the crops to be planted due to the adherence of the climate (Hopwood and Cohen). Global warming also raises various health concerns. One of the most obvious effects on health is directly through heat. As the temperature of the earth continues to increase, more people will suffer from heatstroke, heart ailments, and other illnesses exacerbated by heat (Hopwood and Cohen). In addition to this, it was stated by the Intergovernmental Panel on Climate Change (IPCC) that climate change develops a wide array of adverse effects on human health, resulting in significant loss of human lives. As temperature increases at the earth’s poles, pests and insects migrate toward these areas. Some of these insects and pests carry diseases, such as malaria and dengue fever, which could lead to an increase in the number of cases documented each year (Hopwood and Cohen). Thus, if the current situation will not be addressed, global warming is foreseen to create a chain of negative implications such as the spread of diseases, occurrence of droughts and fires, heavy rainfall, flora and fauna range shift, and population changes (â€Å"Global Warming: Early Warning Signs†). Conclusion The environment is continuously violated and destructed as people strive to achieve industrialization, economic progress, and improvement of the quality of human life. As a result, global warming has emerged as an alarming dilemma that stems from our negligence and exploitation of the earth’s natural resources. Thus, global warming is not a product of our imagination but a product of our continued destruction of the environment. Global warming is brought about by the escalated concentration of greenhouse gases, causing the earths temperature to increase as the gases trap infrared waves and bounce them back to the earth. The increased concentration of the greenhouse gases result from the neglectful emission of components that comprise the noxious greenhouse gases. Carbon dioxide, the main component of the greenhouse gases, accumulates in the atmosphere as the amount of carbon dioxide recycled is reduced. Deforestation is one of the causes of the increased in the concentration of the harmful gases on the earths atmosphere. Global warming brings about various effects on the environment, human health, and people’s lifestyle. Although global warming has some advantages, such as prolonging the growing (of plants) season, it produces more negative implications. For instance, it can cause the spread of various diseases, the occurrence of droughts and wildfires, the unusual patterns of precipitation, and considerable shifts on the flora and fauna distribution. The sad truth is that global warming exists and continues to progress as we constantly neglect our environment. The current rate of its development causes concerns to arise, and the effects we are currently experiencing are proof of its threatening presence. Hence, as global warming continues to threaten human lives, attention and action are extremely needed not only to resolve the growing problems caused by global warming, but also to prevent further damages to the planet and its inhabitants. Works Cited Global Warming: Early Warning Signs. 1999.Retrieved May 8 2008 from http://www. climatehotmap. org/. Hopwood, Nick and Jordan Cohen. â€Å"Greenhouse Gases and Society. † University of Michigan. 1998. 18 July 2008 http://www. umich. edu/~gs265/society/greenhouse. htm. Raper, Sarah C. B, and Roger J. Braithwaite. â€Å"Low Sea Level Rise Projection from Mountain Glaciers Icecaps under Global Warming. † Nature 439 (19 January 2006): 311-313. SciDev. Net. â€Å"Global Warming. † Climate Change and Energy. 2008. May 8 2008 http://www. scidev. net/en/climate-change-and-energy/definitions/climate-change/g/.

Persuasive Essay on Global Warming Essay Example for Free

Persuasive Essay on Global Warming Essay Recent news all around us gives rise to much concern about global warming. Personally, I am alarmed at the rate that the earth is now deteriorating. For example, there is the fact that the second warmest global surface temperature in more than a century was recorded in 2001. News such as these should not only affect me, but the entire world. Starting from individuals like me, every little effort towards avoiding global warming would count and make a difference. On this note, it is nice to learn that there are many groups and institutions that actually endeavor to develop new technologies that could help prevent global warming. The whole world should join in this effort to save the environment. There are many issues that are bothering the human population nowadays, such as terrorism, war, economy, and others. However, there is no other issue that so pervades human consciousness recently than the issue on global warming. Many celebrities and international organizations are exerting efforts to build awareness around the world that there is a real danger to our planet, and that the time is ripe for all to take action. Everyone should be concerned about global warming, especially considering the various deleterious effects it poses on life in the planet. The gravity of the situation calls upon nations, as big movers and possessors of power in large scale, to put more effort into developing new technologies to prevent further global warming. On the small scale, recent news on global warming should be enough to wake everyone from slumber and do their part in saving our environment, which is becoming more dangerous because of continued global warming. The gravity of the current situation is shown by the fact that the second warmest global surface temperature in more than a century was recorded in 2001. Previous decades, particularly the period between 1951 and 1980, registered cooler climates. This trend of warmer climates is seen as a consequence of anthropogenic causes such as the emission of greenhouse gases (Hansen, Ruedy, Sato, and Lo 275). Such trend is alarming and should wake people up from their inaction, because the recent calculations of temperature increase foretell the possibility of even greater temperature in the coming years (King 780). Moreover, as the facts recorded at the Mauna Loa Observatory in Hilo, Hawaii tell, carbon dioxide levels consistently rise at a rate of about 2 p.p.m. per annum (King 780). These data show a marked increase in the rate of carbon dioxide levels, that are way above recorded levels in previous warm periods (King 780). These facts also show how warm global temperature has gotten since the last century, which further confirm the realization of the greenhouse effect theory (King 780). It is appropriate to note that the theory of climate change can be traced as far back as 1827, when a French mathematician named Fourier thought about the possibility that the earth may be absorbing the heat that should be sent back to space (King 779). At the time, Fourier built upon the observation of British scientist Tyndall that minority gases in our atmosphere, namely, carbon dioxide, methane, and water vapor, cause the greenhouse effect (King 779). This theory is fast demonstrating its reality, as shown by the above observations. Globally, there are observed environmental changes that have become worse in time. Among these are deforestation, greenhouse gas-induced warming, loss in biodiversity, and desertification (Grimmond 83). These environmental changes are caused largely by the rapid increase in human population (Grimmond 83). The effects of all these environmental changes are being felt both in large and small scale. The effects of these changes in small scale climate change can be seen at the urban level, wherein broader environmental changes are being felt in greater magnitude (Grimmond 83). Urban climates have changed. Among the effects of urbanization on climate are the alteration of energy and water exchanges and airflow due to surface and atmospheric changes and urban warming due to direct anthropogenic emissions of heat, pollutants and carbon dioxide (Grimmond 83). While there are some cities that can be considered lucky, because their large spaces of irrigated greenspace provide cooler temperature, a majority of the cities experience up to a 10-degree-Celsius difference in temperature (Grimmond 83). The materials chosen and used in the construction of buildings and other infrastructure in urban locations and other factors such as the distances between such structures all contribute to urban warming (Grimmond 86). The morphology of cities, particularly in terms of the width, height and density of the buildings therein, affect solar access in daytime and the cooling rates at night (Grimmond 83). Unfortunately, urban warming has grave implications to inhabitants, such as those relating to their well-being, health and comfort (Grimmond 86). Compared to rural environments, urban locations are warmer by an average of 1 to 3 degrees Celsius (Grimmond 83). One of the scariest implications of urban warming is felt mostly by the poor (Grimmond 87). For example, heat waves swept all over India in 1998 and caused injuries and deaths (Grimmond 87). The same catastrophe occurred in France and Spain in 2003 (Grimmond 87). With regard to the effect of urban warming on human comfort, there is involved a vicious cycle. The intense heat makes people uncomfortable. Thus, they would want to use airconditioning systems (Grimmond 87). The increase use of airconditioning, on the other hand, generates more heat and demands more energy through increased generation of electricity, which again would cause increased urban warming (Grimmond 87). Indeed, this is not an unjustified fear. The increased use of airconditioning had already been observed in large continents such as Asia, Europe and North America (Grimmond 87). Such increased demand has been observed to cause amplified electricity generation (Grimmond 87). This, in turn, results in the production of more greenhouse gases in the atmosphere, which again leads to intensified global warming (Grimmond 87). With the continued abuse by people of the environment and the continued generation of heat, risks greater than the heat waves experienced in many countries are very likely to arise (Grimmond 87). It may be considered that the contribution of urban development and urban warming to the global scenario is small; however, the dangers tat urban warming poses should not be ignored (Grimmond 87). Gases from urban areas, such as pollution and greenhouse gas emissions are the leading anthropogenic sources of global warming (Grimmond 87). Moreover, as discussed above, the experience of warmer climate in the cities lead to increased consumption of energy, which again causes global warming (Grimmond 87). The combinations of many factors, including those occurring in urban zones, would surely give rise to global consequences and implications (Grimmond 87). It is important, in any effort to convince people into action, to make them understand the implications at stake (Grimmond 87). The strategies towards solving the problem of global warming cover a wide range, and any move should involve the participation of all stakeholders (Grimmond 87). For example, in the community level, each person can do his small but significant part in mitigating global warming, by avoiding or minimizing the use of airconditioning in order to reduce consumption of energy. Reduced demand for airconditioning would lead to decreased demand in energy supply, which would lead to less production of greenhouse gases (Grimmond 87). Thus, a simple act of minimizing the comforts of the modern world could do wonders in preventing further global warming. The threat of continued and sustained global should be enough to raise concerns among all people, because of the extreme events that we should be prepared for as a consequence of global warming (King 780). For one, global warming causes more water vapor to remain in the atmosphere, which is exactly what the greenhouse effect means (King 780). Increased water vapor is a result of increases in the level of carbon dioxide in the air, and comes alongside the increase of temperature in the seas and the earth (King 780). Deforestation is another negative effect of global warming (King 780; Saxe, et al.). The increased temperature leads to decreased rainfall, which leads to dryer conditions and more forest fires (King 780; Saxe, et al.). Increased global heat contributes to easier catching up of large fires in the forest. In turn, deforestation again increases global warming, like a vicious cycle. Deforestation deprives the planet of vital carbon sinks, which are required to balance the global carbon budget (Saxe, et al. 389). Fortunately, this can be reversed through the planting of more trees and building more density in the forests, in order to counter the production and existence of carbon in the atmosphere (Saxe, et al. 389-390). Global warming can also cause the loss of the Greenland ice sheet (King 780). This would cause serious problems because it could raise the sea level around the globe by approximately 7 meters over a period of about a thousand years (King 780). It could also cause enhanced retreat of glaciers in some places (King 780). Further effects of global warming can also be observed in the oceans, through increased acidity (King 780). The increase in carbon dioxide levels in the atmosphere cause a corresponding increase of the same in oceans, thereby increasing their acidity (King 780). Thus, there are already observed effects on coral reefs and plankton population, while wider impact on marine life and on the food chain is yet to be observed (King 780). To date, a documented total of 17 coral reef ecosystems have been found to be degraded around the world. This is a huge blow to the planet, since it is estimated that â€Å"coral reefs provide support to ecosystems worth more than $375 billion per annum to the global economy (King 780).† These terrible consequences should be enough to make everyone concerned about global warming and its deleterious effects on all aspects of life in the planet (King 780). People should be concerned about destroying life and support systems in different ecosystems, which would eventually affect human lives. Having seen the scary possibilities that come alongside global warming, everyone should join the movement towards making this planet greener and healthier. People should be moved by stories of forest fires, destruction of ecosystems, and deaths due to heat waves, that are occurring all over the world (King 780; Saxe, et al. 389). The planet is becoming less safe with each passing day that people live in ignorance of the damage they are causing the environment. Continuous apathy and inaction could lead to more catastrophic deaths and further destruction of the planet, which possibilities should raise alarm and concern in all mankind. Each person can definitely do his share in minimizing the anthropogenic causes of global warming. We have seen how a simple act of minimizing the consumption of airconditioning could have positive effects on the environment. It is time that each of us does our share to save our home. This is the only way that future generations could still enjoy earth as we know it. Works Cited Grimmond, Sue. â€Å"Urbanization and global environmental change: local effects of urban warming.† Cities and Global Environmental Change: 83-88. Hansen, J., Ruedy, R., Sato, M., and K. Lo. â€Å"Global Warming Continues.† Science, New Series 295 (2002):275. Kellomaki, Seppo, Rouvinen, Ismo, Peltola, Heli, Strandman, Harri and Rainer Steinbrecher. Impact of global warming on the tree species composition of boreal forests in Finland and effects on emissions of isoprenoids. Global Change Biology 7 (2001): 531-544. King, David. Climate change: the science and the policy. Journal of Applied Ecology 42 (2005): 779-783. Saxe, Henrik, Cannell, Melvin G. R., Johnsen, Oystein, Ryan, Michael G., Vourlitis, George. Tree and forest functioning in response to global warming. New Phytologist 149 (2001): 369-400.

Equity and Trusts Problem Questions

Equity and Trusts Problem Questions The first step we should attend to briefly is to define what a trust is. Simply put, a trust is a relationship under the law of equity[1] that arises when one person (the settlor) vests the legal title in another person (the trustee) for the benefit of a third-party called a beneficiary. The trustee holds the legal title and the beneficiary-(ies) possess the equitable title and as such the trustee owes them a duty to carry out the duties as defined by the settlor[2]. The most basic species of trust is an express private trust; this is a â€Å"trust which is declared intentionally by the settlor†[3]. There is no fixed mechanism or form of words for creating such a trust because â€Å"equity looks to intent rather than the form†[4]; see Paul-v-Constance[5]. Hudson (p.72) speaks of â€Å"exposing† a trust which demonstrates that it exists by law and is not created by the courts retrospectively. Express trusts can be established during the life of the settlor or as i n this case, via instructions placed in their will.[6] There are two basic sets of requirements for valid trusts; the first is that there needs to be three basic certainties as per Knight-v-Knight[7]; defined as certainty of intention, subject matter and object – if any one fails then there is no trust. The first of these requires that there was a certainty of intention by the purported settlor â€Å"that the person receiving the property is under a mandatory legal obligation to carry out the wishes of the settlor†[8]. Secondly and only logically, it must be certain what the subject of the trust is i.e. the property. Finally, there must be certainty of object i.e. there needs to be someone with equitable ownership to enforce the trust, see Re Endacott[9]. The second basic requirement is that the trust must be constituted i.e. the legal title must pass to the trustee(s). This should not be an issue here because as executors Edward and Sandra would have already acquired legal title of all Alice’s estate[10]. DISPOSITION A Alice’s disposition is potentially void as a trust due, firstly to uncertainty of intention; the disposition does not suggest Alice intends to impose a legal obligation on Edward to carry out her wishes. Rather it potentially suggests she was imposing on him a â€Å"power†. In essence, trusts impose an obligation to act and powers authorise people to carry out certain tasks with a lower level of compulsion.[11] The task we have is to decide what Alice intended and according to Dixton (p.67) â€Å"it is very easy to confuse trusts and powers, especially since most power are given to people who are otherwise trustees†. Edwards (p.80) advises that to differentiate between them is â€Å"a matter of construction for the courts, based on identifying the intention from†¦the language and the document as a whole† He further suggests that a significant indicator would be â€Å"existence of a gift in default of appointment† and wide discretion. Applying t his to our facts, we see that Alice grants him à ¢Ã¢â‚¬Å¡Ã‚ ¤10,000 to buy a small memento for â€Å"such of my relatives as have not received anything under the other provisions† and after doing this â€Å"to keep what is left†. It is submitted that this does not meet the necessary level of certainty, especially as Edward keeps what is left over, it is merely a power; a power of appointment[12], outside of a trust instrument[13].To impose a trust situation in this case would be to ignore the warning in Re Hamilton to â€Å"take the will you have to construe and see what it means, and if you come to the conclusion that no trust was intended then say so†. The next issue is what kind of powers these are and what level of compulsion exists on Edward to carry out the tasks. This could be a personal power[14] or a fiduciary power and this will turn on whether he was given the power in his capacity as a son or executor. Wilkie (p.52) says if it is a personal power he could distribute â€Å"spitefully, or capriciously, or even go to sleep and forget about exercising the power at all†. You could argue that Alice gave the power to her son in his capacity as a son; and so considering the remainder goes to him then it is all but an absolute gift. He could just buy a few relatives key-rings as mementoes and be done with it. The beneficiaries would have no equitable interest in any property as its quantum is unknowable. The second view you could argue is that he has to exercise the power in his capacity as executor and so he has a higher level of onus upon him. It is submitted that as such, this power of appointment would be what is known as a hybrid or intermediate power[15] in that he is authorised to distribute it to a certain category of objects, relatives, excluding those who have already benefited. The level of compulsion or onus is debatable. In Re Hay’s Settlements[16], it was held that he just cannot ignore this power to appoint randomly, he must make efforts to complete it. And in McPhail-v-Doulton[17] the leading case in this area it was said he â₠¬Å"must act in a responsible manner according to its purpose† and â€Å"make survey of the range of objects† that† will enable him to carry out his fiduciary duties.† Wilkie (p.52) says that there is much lessor onus is on a donee[18] of a power to locate those who may be objects. However, other commentators, see Penner (58+) say the onus depends on the type of power as well as who has been granted it. However, even with ‘powers’, the subjects and objects need to be ascertained and Alice has simply defined â€Å"small memento of me† and â€Å"relatives† minus those who benefited from the will; these are problematic. Firstly, the subject matter is conceptually uncertain[19]; as per Palmer-v-Simmonds[20] and so potentially void; what is ‘small’ and what is a ‘memento’[21]. Secondly, â€Å"relatives† could be taken to be anyone with a common ancestor and as you work back far enough this could include almost anyone. However, in Re Baden’s Deed Trusts (No.2)[22], relatives was equated to next-of-kin and held to be conceptually certain; a strange decision considering how rigid the court has been on conceptual uncertainty. Furthermore in McPhail, the test to ascertain objects for a power was decided as the ‘is or is not’ test described by Wilberforce as, â€Å"can it be said with certainty that any given indi vidual is or is not a member of the class?† Thus it appears possible that we could, if necessary, reach a legal definition of the objects although the problem is the subject of the power. The advice to Edward is pretty clear; as a trust this fails and so based on Curtis v Rippon[23], he could take the entire amount of à ¢Ã¢â‚¬Å¡Ã‚ ¤20,000 seeing that the amounts to be given to relatives are uncertain and so the absolute gift to him takes effect over the failed trust. However, if viewed as a power, he may be under compulsion to distribute some of the à ¢Ã¢â‚¬Å¡Ã‚ ¤20,000 buying small mementos for relatives once he complies with the above; although, in practice few would be willing, or able, to compel him to execute this power. DISPOSITION B Does the phrase â€Å"fullest trust and confidence† indicates certainty of intention to create a trust? In Re-Adams-and-Kensington-Vestry[24] a husband gave property to his wife in â€Å"in full confidence that she will do what is right†, yet this was held to only impose a moral obligation upon her. However, in Comiskey-v-Bowring-Hanbury[25] the phrase â€Å"in full confidence† was held to impose a trust. The similarity in these cases is superficial and it is apparent that each was judged on its individual merits and potential settlor’s intentions. Hence, the mechanical application of phrase simply turns the law on its head. It is much more insightful to follow Re Hamilton comments listed above in part A and use common sense. Applying this, it is submitted there is potentially a certainty of intention, but we also need to examine the other certainties. On ‘certainty of subject’; it is trite law that, as per Re-London-Wine-Co[26] that trust property must be ascertainable. In that case un-segregated wine voided certainty. This was supported in Re-Goldcorp-Exchange-Ltd[27] . Mustill[28] said â€Å"rights in property, whether equitable, cannot exist in the air†¦ it can only exist in relation to property which is specifically ascertained†, i.e. physical segregation is necessary[29]. However we are not dealing with a situation exactly similar to Re-London-Wine. Under a will, the executor takes full title to the property on the death and according to Martin(p.60) the â€Å"equitable ownership is in suspense† – the trust has not yet been constituted whereas it allegedly had in London-Wine. All the executors need to do is to walk down to the cellar and physically segregate fifty bottles of wine and identify them as trust property and transfer legal title from Edward/Sandra, as executors, to Edward pers onally. It is obvious Alison knew what was in her wine cellar so the property she is referring to really was not a specific 50 bottles of wine, but 50 of the 80 wine bottles I know I have in my cellar. How else could she describe them if they were homogeneous, was an 80 year old woman close to death meant to go down to her cellar and move bottles around? However, it is the â€Å"old friends†, the potential objects of this trust, which poses more serious problems. The phrase â€Å"my old friends† is conceptually uncertain[30]; both words are subjective; what is a ‘friend’ and what is ‘old’? With the knowledge that this would be a fixed trust if the three certainties were present; i.e. each beneficiary entitled to an â€Å"equal† share then IRC-v-Broadway-Cottages-Trust[31] states that all the beneficiaries must be able to be listed and there is no room for any conceptual uncertainty. The disposition states that Edward should cure any uncertainty and his word is â€Å"final†. However, this is not likely to be accepted by the courts. In Re-Tuck’s-Settlement-Trusts the court allowed a Rabbi, as per the trust document, to cure an issue of uncertainty i.e. whether someone was of â€Å"Jewish blood†[32]. However, the Rabbi was acting in his capacity as expert on the Jewish faith and evidencing the meaning of the words not defining them. You could make a good argument that Edward could define his mother’s old friends just like the Rabbi defined Jewish blood, but it would go against current legal and academic opinion so as a trust it would likely fail. However, the advice in this case might be that this could be treated like above, as a power. This is because, as a power Edward could use the â€Å"is or is not test† rather than the â€Å"complete list† test and so circumvent this issue and give Edward much more leeway to carry out his mother’s intentions. Remember the preference of the courts will be to see Alice’s wishes carried out rather than not. DISPOSITION C There is clearly an intention to create a trust with the subject matter of à ¢Ã¢â‚¬Å¡Ã‚ ¤20,000, because it is stated. It is further obvious that it is a discretionary trust[33]; this is a type of express trust where the trustee has what is called ‘dispositive discretion ’ i.e. an ability to decide the quantum of trust property, if any, goes to each beneficiary[34]. It is important to note the difference between this and a fixed trust; in a fixed trust the beneficiaries have a severable equitable claim on the property because they can usually calculate what they are entitled to. In a discretionary trust the trustees can exercise discretion; and in this case the basis of this discretion is those â€Å"they find most deserving.† The real issue is who exactly are the objects of the trust; that are subject to this discretion?[35] We are given no names but rather a class description â€Å"such of the first 300 people to have crossed the Victoria Bridge on the 24th of October 2008†. Such descriptors in theory pose no problems. However, if we assume that this date has passed[36], then we are presented with a difficult evidential problem. It is important to point out that the names of the 300 people who were first over Victoria Bridge is a fact; they are an absolute certainty; it is just the trustees don’t know who they are yet. Hence, it is not an issue of ‘conceptual certainty’ as to the class descriptor; it is not like â€Å"old friends†. The issue is one of evidential uncertainty in that the trustees do not have enough evidence to write down a complete list. The courts have grappled with this problem but it is now clear from McPhail-v-Doulton that previous requirements for a c omplete list, like for fixed trusts, are no longer valid. The test now is the â€Å"is or is not† test as outlined above. Hence, the trustees do not need to know the 300 people who crossed the bridge, they only need to meet the test set by Wilberforce in McPhail; â€Å"can it be said with certainty that any given individual is or is not a member of that class†. The issue now is could anyone do this with sufficient certainty. It would not be enough to show you crossed the bridge on the day but that you were one of the first three hundred to do so[37]. This turns on facts we don’t have; considering the coverage of police cameras in London it is likely there is one focused on Victoria Bridge so this might help candidates prove their claim. To conclude this section, the advice is whoever can prove with sufficient certainty that they fall within the class, and then they will become beneficiaries of the trust. However, if no one can prove then the trust will fail for lack of certainty of objects and the à ¢Ã¢â‚¬Å¡Ã‚ ¤20,000 result back to Alice’s estate. There are a number of other issues which should be covered briefly for Edward and Sandra. Assuming the three certainties are present, then the trust is properly constituted (as the potential trustees they are also executors and have legal title). To be a trustee you need to have reached the age of 18; we are not told Sandra’s age but presumably she complies with this. The trust is defined to be for 21 years i.e. 21 years after Alice’s death and this is permissible under Section 13 of the Perpetuities and Accumulations Act 1964. However, it is worth pointing out to Edward and Sandra that the trust is unlikely to last as long as 21 years. Although the beneficiaries would have no rights severally because as Penner (p.85) describes them they are â€Å"mere postulants, seeking the trustees’ largesse†; they could have rights jointly because it is an exhaustive trust[38] i.e. Alice appears to have instructed them to spend all the 20K and there are no devices to return unspent money to the estate. As such the beneficiaries may have rights jointly to petition the court to simply give them the trust property, see Martin (p.211) which presumably they would have agreed to divide equally[39]. References – Bibliography Burn, E, Trusts Trustees Cases Materials 6th Edition, Oxford University Press. Dixon, M, 2005, Equity and Trusts Q A, Cavendish Publishing. Edwards, K, 2000, Essential Equity and Trusts, Routledge. Duddington, J, 2007, Equity and Trusts Law Express, Pearson. Hudson, A, 2005, Equity Trusts, Routledge Cavendish. Mohamed, R, 2004, Cases Materials on Trusts, Routledge Cavendish. Martin, J, 2005,Hanbury Martin, Modern Equity 17th Edition, Sweet Maxwell. Penner, J, 2005, The Law of Trusts Core Text 4th Edition, OUP. Wilkie, M, 2008, Equity and Trusts Blackstones Q A 2008/2009, OUP. 1 Footnotes [1] Space precludes a discussion on the fundamentals of equitable law see Duddington(p.2+). [2] A trust is an onerous obligation and should not, and will not, be imposed casually by the courts if any doubt exists; especially as the courts may ultimately be called to adjudicate upon its operation [3] Hudson(p.38) [4] Re Williams 1897 [5] On the other hand you can use the word â€Å"trust†, as per Tito v Waddell (no2) and this might not create one. [6] They are often known as ‘testamentary trusts’; but not substantially different to inter vivos trusts. [7] 1840 [8] Dixon(p.61) [9] 1960 [10] We are told the will is valid and that is all we need to concern ourselves about with that matter. [11] Martin(p.171) [12] appointment in this sense means the power to give or to appoint the property to someone. [13] Powers can operate „insideâ€Å"or „outsideâ€Å", those outside are known as bare powers i.e. less encumbered by the obligatory nature of the trustees duty. [14] Beware of terminological problems with these phrases, see Wilkie(p.51) [15] See Mohamed(p.118) [16] 1982 [17] 1982 see Burn(p.84) for a discussion of the case and test. [18] The person who is authorised to exercise a power. [19] see Disposition B and C for more details and Duddington(P.15,16) [20] 1854 [21] see below for more detail [22] 1973 [23] 1820 [24] 1884 [25] 1905 [26] 1986 PCC 121 [27] 1985 [28] Quoted in Penner(p.205) [29] It is worth noting the ruling in Hunter v Moss which appears to run contrary to this albeit with intangibles. [30] Penner(p.197+) In Re Gibbard’s Will Trusts 1967 and RE Barlow’s Will Trusts 1979 â€Å"friends† was held certain but the former has been overruled and the latter referred to different legal circumstances. [31] 1955 [32] see Duddington(p.20) [33] see Dixon(p.65+) [34] See Martin(p.104+), see also Edwards(p.77) for concise analysis. [35] I am interpreting the will as meaning there is a potential class size of 300 and over these discretion is exercised. [36] It is not 100% clear from the rubric that his date has passed, although the use of â€Å"to have crossed† clearly infers it. [37] A suggestion of administrative un-workability might arise here [38] It is interesting to note that discretionary trusts presents theoretical problems in that you can ask the question ‚who holds the equitable rights to the property?’ without beneficiaries who enforce the terms of the trust; there is an obvious risk that trustees can become slack in their duties. See Penner(p84+) [39] Space precludes a detailed analysis of these issues

Star Formation :: Astronomy

The basic idea of star formation is gravitational collapse – the contraction of a region of gas under the influence of gravity. This is a simple process that would be expected to occur in any region of material dense enough for collisions between atoms to radiate away energy. However, the gas must be dense enough for collisions to occur and the temperature must be low enough for the atomic velocities not to be able to escape the system's gravity, so star formation only occurs in a few areas. The sites of star formation in the galaxy are mostly located within molecular clouds – expansive, cool clouds of mostly hydrogen and helium gas. Molecular clouds are on average too diffuse to contract gravitationally, but within a cloud are regions of locally higher density, which are the sites of active star formation. It is not known exactly what causes molecular clouds and star-forming regions to be distributed as they are. However, it appears to be related to the spiral-arm structure of spiral galaxies, which is thought to be the result of density waves passing through the disk, compressing matter and igniting star formation in their wake, leaving the trails of young, hot, blue stars in their wake that are the primary feature of spiral galaxies. The distribution of gas in these regions is probably erratic enough that once a sufficient compression comes through a large number of separated regions will be triggered to contract individually. One a sufficiently dense region begins to contract, the process becomes self-sustaining, as contraction only increases the density and makes contraction more rapid. Any net rotation in the region will be flattened by conservation of angular momentum as the cloud contracts and spins more rapidly, making the contracting region attain the shape of a disk. The center of mass of the cloud will, of course, be the location of highest density, and as matter rains onto the center it will heat up rapidly to very high temperatures. This 'protostar' will emit strong radiation and winds which, while not immediately enough to stop the influx of matter from the disk, generates powerful outflow jets along the poles of the system, which may also be influenced by magnetic force originating in the disk. Throughout the process the temperature, density, and pressure in the protostar at the center are increasing, and soon approach figures comparable to normal stars. Once the temperature of the center

Poetry appreciation of Death of a naturalist Essay -- English Literatu

Poetry appreciation of Death of a naturalist This poem ‘Death of a Naturalist’ by Seamus Heaney is about the lifecycle of frogs and a child’s interest in nature. As the child grows up he looses interest in all aspects of nature. It is as if ‘Death of a Naturalist’ was referring to the loss of innocence of the child and the love of nature he once had died inside him. Not only that, he now has respect for nature but not necessarily disliking it; nor loving it either. The atmosphere of the first stanza is quite positive. A phrase such as ‘There were dragon-flies, spotted butterflies,’ suggests a happy mood and refers to pleasant memories to Heaney as a child. Diction such as the ‘warm thick slobber’ indicates to me the child-likeness theme of this poem. Which proves that it is from an adult’s perspective looking back at his childhood. Heaney has done this by using the ‘child-like’ vocabulary as well as a more complex and mature tone to the poem. He has done this so that we as the reader can recognise the difference of the fascination of a child and a simpler explanation of things from an adult. For example as the first stanza draws to a close we learn that by frogs we can tell the weather ‘For they were yellow in the sun and brown/in rain.’ This is the typical child learning something new in school, and then assuming they know it all. From that I get the image of the child telling its mother ‘mum did you know†¦Ã¢â‚¬â„¢ Where as an adult would dismiss it as merely a fact. By the second stanza the poem takes a rather dark turn. All the positivity in the first stanza has been replaced with a sinister and morbid tone. The beginning of the stanza ‘ Then one hot day†¦fields were rank’ suggests the dramatic change in ... ...ts changed and I realised that the poem was not all about frogs. It was a case of reading between the lines. Heaney’s overall message fascinated me and urged me to delve more into the subject of ‘loss of innocence’. Which set me on a train of thought. One thing in particular that made the poem more enjoyable for myself was Heaney’s flair for style. The way in which he concentrates on the onomatopoeia in the poem is very effective. As I had not previously read any other of Heaney’s poems this immediately drew my attention. Another thing I liked was the images he created in my mind. One of those images were (in the second stanza); a battlefield where the child is on one side and the frogs are his opposition and the frogs are invading the land-similar to a war scenario. Therefore I would highly recommend this poet simply for Heaney’s unique style of writing.

Uncle Toms Cabin :: Uncle Toms Cabin Essays

Uncle Tom’s Cabin UNCLE TOM -Uncle Tom manages the Shelby plantation. Strong, intelligent, capable, good, and kind, he is the most heroic figure in the novel that bears his name. Tom's most important characteristic is his Christian faith. God has given Tom an extraordinary ability. He can forgive the evil done to him. His self-sacrificing love for others has been called motherly. It has also been called truly Christian. AUNT CHLOE- Aunt Chloe, Uncle Tom's wife, is fat, warm, and jolly. She is a good housekeeper and a superb cook, and justly proud of her skill. She loves Tom, and urges him to escape to Canada rather than to go South with Haley. After Tom is sold, she convinces the Shelbys to hire her out to a baker in Louisville and to use her wages to buy Tom's freedom. She is heartbroken to learn of his death. MOSE, PETE, AND POLLY - Mose, Pete, and Polly, the children of Uncle Tom and Aunt Chloe, are playful and rambunctious. Polly is Tom's special favorite, and she loves to bury her tiny hands in his hair. ELIZA HARRIS - Eliza Harris is raised by her mistress, Mrs. Shelby, to be pious and good. Described as light-skinned and pretty, Eliza dearly loves her husband, George Harris, and their little boy, Harry. When she learns that Harry is about to be sold, Eliza carries him in her arms to the Ohio River, which she crosses on cakes of ice. Although generally a modest and retiring young woman, Eliza becomes extraordinarily brave because of her love for her son.

Alice Walkers depiction of men in The Color Purple Essay

Alice Walkers depiction of men in The Color Purple has been controversial. Explore the opinions of the two critics printed below and explain your own view of the way Walker presents men in The Colour Purple. In The Color Purple, Alice Walker’s depiction of men has been seen by some as controversial. Walker seems to be attacking black men because of their mistreatment of black women. Although, there is another force at work in this powerful, and emotional, book. That force is the unwitting testimony which Walker cannot control, because it was not deliberately written to be part of her story. Between the lines of her story is the strong message of personal rage: rage which cannot be hidden. The rage can be seen throughout the novel in numerous forms; the words used by Walker, that are strong and emotive; the portrayal of the characters, from innocent, like Celie, to evil, like Mr. Alphonso and the realism in which the characters are brought to life, because of the real anger used to describe them. Therefore, in considering the opinions of the two opposing critics, this circumstance must be borne in mind. The first critic, Tony Brown, wrote an article about The Color Purple for the Carolina Peacemaker. He has many views on the book, and expresses those views confidently. Brown admits in his article that some men have raped their daughters, â€Å"†¦ some black men have raped their daughters,† However, immediately afterwards, he is stating his defence of black men. He defends himself instantly, saying that the majority of black men have not. He then speaks of the problem that black men have when it comes to loving, saying the love has â€Å"†¦ been drained out by the brutality of a society panic-stricken over black masculinity. † Brown then goes on to tackle the issue of lesbian affairs in the book, and that they give women â€Å"†¦ emotional and sexual salvation†¦ † He defends his position saying that this is not the case in the real world, even though many frustrated black women seem to want to believe. Brown then admits that some black men are like Walker’s characters, he says they are but, â€Å"†¦ sad examples†¦ † He also says the book focuses only on the failings of black men, and that black men are being abused by a white mans movie. He is blaming everyone else. Famous black men are mentioned by Brown in his argument, and the fact that they were non-incestuous and non-brutalizing and had healthy relationships with women. He states that, â€Å"Their women never needed a ‘Shug’. † Brown fails to support his argument about famous black males though, he merely mentions their names briefly. Brown blames the publishers in the final part of the extract. He says that white men and women only publish books by black women, or homosexual black men, and then label them as being the ‘black experience’. Brown is constantly blaming others throughout his extract, he never accepts responsibility for the actions of black men; he merely shirks the blame to other people. The second critic writes as a response to Brown’s article, their name is not given. Their argument defends The Color Purple, and retorts to Brown’s scathing attack of Walker’s depiction of men in the book. The critic opens their response with the line that states the book is, â€Å"†¦ strictly fiction†¦ † They stress though, that Walker has written about real suffering, and the ideas were not conjured up by the imagination of Walker. The critic then speaks of the books content, and speaks of Walker’s characterisation. The critic gives Celie as an example of a woman who grew from her own strength, â€Å"†¦ a self-assured, strong woman†¦ † even if it was at the ‘expense’ of a few male egos. After stating the facts in the book and showing the main character development, the critic then launches a scathing attack upon black men, saying that, â€Å"†¦ the shoe is such a good fit that it becomes downright uncomfortable†¦ † Meaning that, the black men are offended, because the book is too truthful for their liking. The critic then emphasises that Walker’s message is that of oppression, and that it is, â€Å"†¦ ugly no matter what colour it is. † They state that oppression is wrong, and that the message given by the book mustn’t be forgotten, or else the ugliness will live on, and continue to breed. In the closing lines of the critic’s argument, the critic states that the book is a story about black women; not a book that is against black men. Brown is then contradicted by the anonymous critic, as they write that Walker’s is a feminist book, and that it is not specifically against black men, even though black men are on the defensive because of it, â€Å"†¦ black men protesting and licking their wounded egos. † Both critics focused on actual events in the book; relationships in the book; the powerful difference between men and women; the differences between sex and the raw influence in sexual matters. In spite of this, both critics overlooked the power in the book, that being of Alice Walker’s real message which encompasses so much of bitterness and grief experienced by black people in the USA. In my opinion, the men in The Color Purple presented during anger, Walker’s anger when writing. Therefore, the presentation of men is biased. Personally speaking, I think the depiction of men in the novel is true; that is, all aspects of the male personality are represented by Walker’s characters, from kindness in Reverend Mr (Samuel) to brutal cruelty, seen in Albert. The way in which Walker writes, with such conviction and passion about her characters makes the depiction true, it cannot be fained. The slightly biased view on the male characters in the novel is so because Walker only shows two good black, male characters; Samuel and Harpo. Harpo cares deeply for his family, and loves them sincerely, but his sensitivity causes him to be dominated over by his wife. Samuel does so much to help Nettie; he takes her in after Albert’s assault on her. He educates her, shows her new and exciting places abroad. The marriage between Samuel and Corrine also knows no cruelty, no violence or sexual abuse. This example is compared to several other male characters that are portrayed as raging, unprincipled creatures. An example of a raging, unprincipled creature, as shown by Walker, would be Mr. Alphonso, he rapes his own step-daughter, on more than one occasion, and then when Celie gave birth to two children, he gave them away. This was not the act of a decent human being.

What Integrity Means

The depot rectitude is considered polysemantic meaning it has a number of different meanings. one is the close to important terms apply in virtue ethics, harmony, school of thought, for example. Integrity is used in the scientific and technological fields. Therefore, this term is much puzzling and perplexing. Often, tribe use haleness as a synonym to chaste trying to show that mortal is playing with fair play. However, researchers noted that multitude of righteousness whitethorn act immorally, regular(a) if they ar unsuspecting of their immoral actions.Firstly, modern world suggests that every soulfulness is subjected to numerous conflicting believes and situations. Thus, fair play is delineate as the ability to adopt reasonable and valid judgments, conclusions about the brilliance and necessity of particular commitments. Integrity suggests that a person should act out of the strongest thirst and with deliberation to choose between more than or less desira ble actions. In other words, justice always suggests bang-up between important desires. For example, a scholar may discard studying preferring go to the party.In such situation disciple is not a person of integrity as higher order desire was endorsed over fun. Person of integrity realizes the wideness of first-order desires and he wont elapse victim to conflicting desires. Further, integrity is delimit as ability to resist real(a) temptation meaning that a person is ready successful integrate the self. Secondly, in computer and related sciences integrity path that computer database is able to maintain cause and resist to errors, integrity of defense administrations suggests that system isnt breached.Thirdly, in music, musical execute has integrity if its musical structure is provided with completeness which is merged and has related music ideas. Simply saying, integrity in music content that music piece is whole, intact and pure. Fourthly, Integrity is associated with geography. Then, lot may think of integrity of state of nature region, different existing ecosystems, art kinds and forms, and even people may think of computerized integrity. Integrity is applied mostly to the objects and it suggests the qualities of purity and integrity an object.These meanings are often applied to people. oratory about regions, integrity means that a region isnt corrupted by negative effects of development and its advances. parting of integrity suggests wilderness and uncorrupted or virgin. Finally, intellectual, professional and artistic integrity are often spoken about. Nevertheless, integrity has put in its application mostly in philosophy meaning humanes prevalent character. In philosophy, when a person acts with integrity on a particular articulation it means that integrity is explained as broader lark about of person character.There is a cite that person should possess integrity. Integrity suggests that a person is in harmony with himself, that h e acts either morally or immorally. It means that integrity is applied equally to people things because integrity suggests a way to bear on the self uncorrupted. Integrity is often associated with commitment, and whatever researchers stress that the term commitment is used to cover intentions and promises of human expectations and, what is more important, human trusts.It means that any person may be committed to different kinds of things at the same time. Such person is unified person. Summing up, integrity is found in many aspects of humans life. Integrity is defined as personal virtues meaning that persons ability to take wield of the self shows whether a person is integrated. Moreover, persons of integrity treat equally other peoples matters. Abilities to overcome temptation and to qualified first-order and second-order desires are considered the keys for a person to be considered of integrity.

Impact of sea power upon history Essay

Introduction The profound work of sea commerce upon the wealth and strength of countries was all the way seen long before the true up principles which g all overned its growth and prosperity were detected. (Mahan 2004) Water covers over three-fourths of the egraphicshs surface. The wide-cut-cut human refinement lives on the stay one-fourth ara of earth. And scarcely 3% of the finished water present on the earths surface is fresh water. This leaves most of the remaining exposit of earths water area, as ample salty water bodies e rattlingone k straightways by the name of seas or oceans.These are the facts known to all, but few real come to know and appreciate the power that seas suck in wielded in the development of civilization. Before man ventured step forward into the sea for traveling, he was just a semi-barbaric creature, with especial(a) trading and social skills. As humans resolved to venture beyond to uncharted sea territories, and observe new lands and newer civilization, the world started to get close and thusly the progress of mankind, opposite than strictly in the biological sense, came into picture.But, progress was not the only thing which sea brought sometimes it also brought diseases like canker and sizable unwholesome wars to people residing on its shores. This paper give analyze all these issues, and will attempt to reflection at the effects these horizontalts brought to the civilization as a whole. The tale of ocean Power is widely, though by no means solely, a narrative of contests in the midst of nations, of mutual rivalries, of violence frequently culminating in war. (Mahan 2004) archives of Navigation explanation of Navigation can be traced back to centuries.Merchants in Egypt and Mesopotamia used to build large commercial vessels to carry and barter goods, more than 5500 long time ago. In Egypt, sea voyage are up to now recorded in hieroglyphics, which can be date back to 3200 BCE. whizz can take thi s as the starting point to trace the beginnings of navigation as a commercial pursuit. The first westernmostern civilization in bill, which is known to have developed the art of navigation at sea were the Phoenicians, more than 4,000 historic period ago. The popular stories of Helen of Troy were all related to sea travel. Phoenicians were in fact the first to use terminus Star for navigation, according to some accounts.Still downstairs overcast skies, the navigation was usually based on sheer guesswork and intuition, till in round 2000 years ago, when Chinese created the first magnetized beset compass. This technique spread across the world in about a thousand years. In twelfth and 13th centuries the science of making proper maritime charts and celestial almanacs began. By the 15th and 16th centuries, in-your-face exploration of the world of the world started with explorers like capital of Ohio getting funds from their respective Emperors to explore and subject newer land s (Spera & Strom 2002).Nevertheless, it is wrong to think that the early explorers used to tack into the unknown without some(prenominal) idea of their final destination. It is true though that while searching for a item land or route, the explorers were often surprised at the new lands they discovered. This was because many times the country they were pursuance was only known in legend or rumor, the most famous example being Columbus, in the recent times. opus the entire world is now charted and studied thoroughly, sea does not hold any less influence. The destruction brought by Tsunami is a very(prenominal) recent event.And even Mahans lines about sea and war, mentioned above, still hold true, as the countries still are always protecting themselves against attacks from other countries. Famous historical battles Countless battles have been fought over the sea formative the civilization, by up throwing honest-to-goodness empires and making newer one. unrivaled of the most famous older battles is the Battle of battle of Thermopylae surrounded by the Greek and Persians, changing the course of the entire war. As is mentioned in the section above, the aggressive exploration started in the 15th and 16th centuries, to enslave newer and older countries.Before this the exploration of the sea was usually only trade-oriented. Many of the 16th century explorations were funded by the reigning Monarchs who wished only to increase their area of reign (Stafford 2005). study battles that were fought in this period were amongst English, Dutch, French and Spanish Monarchy. The popular battles were the Anglo-Dutch war 1665-1667, war England and France against united Provinces 1672-1674, between France and the entire Europe in1674-1678, battle of the Spanish epoch 1702-1713 i. e.The Sea battle of Malaga, Sea battles between Britain and Spain 1748, sevener years war which establishes the English Supremacy over the seas 1756-1763, Naval war in America and West Indies in 1778-1781 which led the way to the American transmutation etc (Mahan 2004). These wars led to the building and destruction of colonies, and in twist around exposed the people in the colonies to a wide array of culture and newer ideas which were previously only frequent in the Europe, and had led to them being superiors over other cultures. Diseases brought by sea.Diseases is not a term usually associates with the sea, even though the possibilities are huge. However, the most destructive spread of Plague can be attributed to the seas and trade routes. Plague is one of the most destructive as well as the most incomprehensible disasters for humanity. While there is no direct relation between sea and plague, yet the spread of plague with sea from one to other port cities is a very relevant domain. The earliest and the best documented history of Plague was that of the Justinianic plague in the mid-sixth century.The Justinianic plague in the main followed trading routes and theref ore, was especially brutal to coastal cities. This plague originated either in Ethiopia, moving by Egypt, or in the Central Asian steppes, where it then travelled along the caravan trading routes. Finally through either of these locations the disease quickly spread passim the Roman world and beyond (Smith 1996). Another very infamous Plague closely resembling, but lots more destructive was the unforgiving Death in 1348.The effect of sea on Plague is even worse in this case. The Plague started in mainland China and made its way west across Asia to the Black Sea by 1347. One theory states that a group of infected Tartars besieged a Genoese outpost on the coast. Tartars harassed the trapped townspeoplesfolk by hurling the dead bodies of their comrades over the town walls spreading the epidemic among the Genoese. The panicked inhabitants fled the scene by ship showing up in the ports of Union Italy and bringing the Black Death to Europe (www.eyewitnesstohistory. com). finding The e ffect of sea on mankind has two the coercive effects of exchange of trade and ideas and the minus effects of destruction and sometimes fatal diseases. One thing is clear however, no matter what the station was, the mankind always managed to surge ahead scholarship newer things and forging newer relations. This has in the end brought only positive influences to the mankind in the longer run. References Books Mahan A. T, The Influence of Sea Power Upon History, 2004, Gutenberg.Stafford J, Some Principles of Maritime strategy, February 16, 2005, Gutenberg Magazines Spera G, Strom S. R, The Back Page A Brief History of Human Navigation, Crosslink Volume 3, Number 2, 2002, http//www. aero. org/publications/crosslink/summer2002/backpage. hypertext markup language Journals Smith C. A, Plague in the Ancient population A Study from Thucydides to Justinian, The Student Historical Journal, 1996-97, http//www. loyno. edu/history/journal/1996-7/Smith. html Websites The Black Death, 1348, EyeWitness to History, www. eyewitnesstohistory. com, 2001.

Plastic Surgery: Beauty or Beast

Stephanie Ferr iodin Mrs. DAddario ENG3U October 26, 2012 mantrap or living organism? Her thin, finely labiate pull a case alter into an Angelina Jolie analogous p prohibited(a). Rosy, red, round, human faceb nonp arils as in towering spirits as the Himalayans peg appear on her face. Her taunt phone line is conniving and dressd. e actu every last(predicate)y(prenominal)where she walks she cut intos heads, population stargon. What argon heap cerebration? strike or zoology? A little girl as expound to a naughtyer place would be the exemplary face of a sell girl, that would be besotted on the comportment raps bellyacheion of magazines e realwhere. These magazines call out to teen come onrs and womanhood, brainwash them to bring forward that if you lack to be beautiful, you employment up to typeface a veritable(a) focusing. bendable cognitive process is a bad itinerary to win everyplace your ego into hunting lodges kafkaesque moral picture of debaucher. Having orna psychical mental processs make net tolerate umpteen health risks, sess urinate a foolish c onceit of cup of tea, as c fall a centeringly as an dependance to this pathological habit. at that place atomic number 18 many a(prenominal) health concerns associated with enhancive functioning. elastic surgical operation deal font prodigal shed blood, scarring, mortification which is the closing of tissues, as hearty as to a greater extent real set up such as impertinence disparage which locoweed at long last reach to vigor paralysis. In both(prenominal) super rarefied cases, lawless eject buns buoy raze malarky to death.In 2007, blame predate Kanye wolframs mother, Donda West, passed outside at the age of 58 by and bywards receiving a breast diminution and jackpot tuck. She reared peak bleeding by and by exhalation crustal plate to encounter from the operation. check to the journal charge card and constructive surgical process, one of 51,459 patients dies from augmentative operations. bendable operation bottomland be outrageously parlous to your system, except it flock alike be every bit heartbreaking to your mental health aswell. Media and friendship set out raised the immobilize for every teenager and woman.Ordinary sight are endlessly creation bombarded with ads on how they should assure, and what edict believes is beautiful. moldable mathematical operation dos a fake topic of debaucher, which is unworkable to wait up to. match to The Ameri potful high society for esthetical flexible operating theatre, from 1997 to 2010, the adjoin in nonfunctional procedures has increase by oer one hundred fifteen partage. collect to the increase of moldable mathematical operation, teens and women are much(prenominal) undecided to it, which is fashioning them be more faultfinding toward their bodies. be in a bad way(p) with your visible bearing claims women to propose decorative procedures.Women go into the operating(a) way of carriage with high expectations, cerebration that once they look a dependable way it go forth modify their action, restore their problems and dissonant up doors for them. It is grievous to guess that there is no such amour as visible god. charge card process is only a cover that women use to cloud their flaws and insecurities. more or less woman do non consider this, and if their results do non turn out the way they in demand(p) it to be, it basin be very waste for few patients and lead them into depression.The aesthetical surgical process journal states that 13 percentage of shaping performance patients are lovesick with the solvent of their procedures. If women stick around to be sad with their somatic manner it empennage be fol minusculeed by a grievous dependence to decorative operations. ornamental surgical operation habituat ion is the on-going bank to scram moldable surgery to the top dog of excess. Addicts are usually tangiblely distinguishable because of their fake, abnormal demeanor. nigh half(prenominal) of formative surgery patients eat up had more than one ornamental procedure.The percent of patients in 2008, reversive for other surgery later their first off procedure has alternate magnitude from 37 to 44 percent since 2002. It approximately cases, peck with carcass Dysmorphic discommode (BDD) suffer from malleable surgery colony. Symptoms of BDD are invariable low self esteem, obsessional thoughts some organic structure defects, and envying the natural appearance of others. Unfortunately, close raft ugly from BDD impart non try on psychiatrical help, and ordain take place to convey cosmetic procedures level off if sure non to by their surgeon. enhancive surgery addiction finish be very insidious to ones carnal and mental health.In conclusion, duct ile surgery depose be unbelievably risky for your health, can create a all in all impossible root of beauty and can lead to a monstrous unruly addiction. It is not worth to lose your life expert because of the proneness for high cheek clappers and get going lips. It is primal to echo that the supposition of somatogenetic paragon does not hold out and that look a certain way leave not change your life for the better. to the highest degree of us are so focussed on compare our body to others and obsessing over our physical appearance that we a great deal lead beauty comes from within.So with all this universe said, how do you define true beauty? whole works Cited ornamental performance Addiction. AllTreatment. com. N. p. , n. d. Web. 21 Oct. 2012. . Flinn, Mary. oppose psychological make of decorative performance. EHow. remove Media, 18 Mar. 2009. Web. 21 Oct. 2012. . wellness Risks of cosmetic operating theater. health Risks of ornamental Surger y. N. p. , n. d. Web. 21 Oct. 2012. . Kanye Wests ma Dies after cosmetic Surgery. NY day by day News. N. p. , n. d. Web. 21 Oct. 2012. . tensile Surgery smash or wolf? bendable Surgery steady or brute? N. p. , n. d. Web. 21 Oct. 2012. . Plastic Surgery Demographics. Whos getting nonfunctional Surgery? N. p. , n. d. Web. 21 Oct. 2012. .

Research Survey on Use of Opportunity Cost in Project Evaluation

look passel ON accustom OF prospect comprise IN cast empower up valuation AT SELECTED mercenary BANKS IN THE commonwealth OF BAHRAIN A look into w twainpaper PRESENTED TO THE scientific query AND cultivation numeral function AMA gentleman(prenominal) UNIVERSITY region OF BAHRAIN BY MUBEEN FATIMA August, 2012 e re t bug pop ensembleyw here(predicate)turn account aro wontment and sparings piss for 2 divers(prenominal) purposes. inter multifariousnessable a shot military mankindold festerrial de barrierination fashioning pulmonary tuberculosiss scotchs, as hale as history precepts, unconstipateditys & employments of interrogatory tending(p) by conclusion sciences. literary harvestions battle arrays that t impingingher ar quad-spot-spot pileonical legal documents and techniques of conclusiveness fashioning apply by frugal experts, these argon augmentation, statistical valuation, deviseing, numeral exact, and halt ing opening, to a great extent than or slight(prenominal) of which ar every bit adjective in constitution they armed operate us to play the thinking of how finishs ar do in frugalals. Since elections ar end congeneric to hopes, the customs employment of imaginativenesss in ane style hinders their hire in patterner(a) style.This implies the be of hazard, which is missed, is in truth the plunder income of whose issue is minded(p) up, this signals that, lost eon, expiation or whatsoever roughly impudently(prenominal) upstandingsome- be that returns proceeds should withal be interpreted as prospect nominate. probability greet in belles-lettres is the m integritytary assess referred as the neighboring- stovepipe pick on tap(predicate) to a dimensionnal knock offr who has to take figure surrounded by a emergence of reciproc t expose ensembley transp atomic quash 18nt hurtles. It is, consequently the nominate o bjectiveion in stintings. It has been illust prescribed as off the staple race in the midst of deprivation and prime(a). heretofore its sexual tattle to the scotch gain ground is seldom contended.CHAPTER 1 cosmos land of the reachic front question s nubble provides us the imagination that probability be is angiotensin converting enzyme of the draw deflections mingled with the conceits of frugal harm and invoice carcass embody. macrocosm enured as a appeal, fortune appeal had unendingly been learned live in counting of the actorized be of a witness & has of alto crushher time completed a solicitude comptroller end stock-s sue the late frugalal experts, peculiarly the Austrian take aim of stead treats chance be as something that has uncomplete globe nor has apiece longness in finis qualification.Though the dramaturgy of political economy gave put turn show up to the apprehension of fortune amountress, the sensation al virtu solitary(prenominal)(prenominal)y cherishing the mo lift unwrap climb up is directly interpreted oer by trouble invoice, instantly this innovation is macrocosm taught in academicianian alum courses of stintings n unitarythe little(prenominal) in quarter step up, the frugal experts today evince on mathematical techniques in conclusiveness fashioning at that place by ignoring non-homogeneous abstract peckerates ilk hazard be and belly(predicate) of retchs creation missed. Evaluating luck bell is of the essence(predicate) to rein break through the legitimate be of every(prenominal) intercommunicate low con sentiment balancen.If the pecuniary scathey of spot pass off hat(p) deviatenate(a) of an enthronisation chuck is low, and so, commanding that probability exist, everywhereturns an intuitive feeling that welf atomic crook 18s of con depotinous cave in variegatenating(a), addr ess much(prenominal) nonhing. The go forth of sight chance be thusly compel hotshot of the unfathomed be of that single- leverd functionicular pro put down check. Mr. magic Stuart Mill, a British philosopher and a courtly handm aid was the prototypal- course man to let on the motif of luck toll in his stinting guess of unthaw marts as hearty as explaining his image of conversance and an singular and license of plectron. prospect be argon aspect of as the retroactive be that stinkpot non be corned in the knit of scotch science and bodied purpose fashioning. hazard progress atomic mo 18 once in a power comp atomic number 18d with electric dominance pecuniary re pass judgment which ostensibly ar the upcoming bell that whitethorn or whitethorn non incurr depending upon the comeing interpreted. 2 ancient as considerably as incoming salute beneathside be either passive or ki winic Austrian instruct of pattern re dress forethought to the concept of probability salute on both(prenominal) sides of the m unrivaledy do(prenominal)ize cerebrate very late to the grandeur of pay off and scotch terminal income mind in their precedent of the grocery action.They grapple that the n stars of an investor having prospect court stiffs that his currency has to a greater extent examples merely the pulmonary tuberculosiss be non un hold in. With the boldness of a merchandise with seam slightly sole(prenominal) ceiling considerablys, those goods bequeath be feature of no probability exist as every scoop good has however iodin yield. In a foodstuff of seamlessly criterionize seat of g everyplacenment goods, they get hold of no chance pecuniary measure out beca function either of the goods ar resembling in equipment casualty of determination and arrive at t whence tramp be employ equ whollyy closelynessy for distri unlessively yield. In pract ice the t every last(predicate)y of hold constitute by an accountant is contrary from that of an sparing expert.This magnetic fun is non grounded in contrasting bedrock on what to assess or how, meager lies in the atomal diversion in chthonian stand-of be and put ons. nonwithstanding if prospect be ar non ignored by the economist thus mend shrewd the hoggish ho workout servant harvest-home of palpablem the economist moldiness(prenominal)(prenominal) to a fault consider the salient home plate driblet diving assiduity in trust damagey atomic number 18as of Bahrain. t sever tout ensembleying of the worry The engage aims to discuss the relevance of the smell of hazard woo in figure paygrade unconscious procedure follow by technical-gradeized avows in country of Bahrain.The fortune approach has diverse magnificence in the whimsy of economists and accounts professionals and thence the c totally of this excogitation in f lip be . This look for volition exploit to scratch appear dewy-eyedness of probability court turn considering an enthr atomic number 53ment proposal. specifically it enamork to consequence the toss the goods questions. 1. What is the stead of the probability woo in devil military place at Selected mer shadowtile banks in landed estate of Bahrain? 2. What be the banking ope dimensionns where luck exist is deemed all grievous(p) by mer dealtileized message marges in acres of Bahrain? 3.What be the component berths seting the vastness of fortune exist face up by moneymaking(prenominal)ized posits in Kigdom of Bahrain? 4. What atomic number 18 the problems ruleed in masking of hazard apostrophize sentiment by the forceory pecuniary institutioners piece evaluating a assure? confidence The take on fancied that the respondents atomic number 18 in encumbrance(p) in retort all the questionnaire importation of the ara The guinea pig is unspoilt to the hobby finish payrs the accede exit salvage the finish organizers in mercenary verifying constancy to come oneself the dependable follow of a cat and consequently closing the penitative hit or hand protrude generated by itFuture inquiryes the drive obtainkament member in relating the dickens nonions i. e, prospect live and put up be by employ the decimal regularityology of search. It provideing come along help oneself oneself in purpose do and take to military rating for the accounts Managers and Economists. desktop and limit blockage The aim of this contract is to deliberate the signifi washbasince of the judgment of hazard damage in swan rating subprogram espo expend by mercenary banks in res publica of Bahrain. The prospect personify has incompatible richness in the quill of economists and accounts professionals and and then the call of this devise in communicate salu te . The take takes jargon Officers at selected commercial lingos exe compacteing(a) in ground of Bahrain. The hind end race is Executives and dressrs (top and gist take ) who be nowadays conglomerate in finis fashioning This search foc implement on stimulateing bug out richness of fortune constitute era considering an investiture proposal regard is conducted in money qualification(prenominal) Banks of Bahrain, the answers thence ponder the to the highest degree distinguished bea of Bahrain economy. The analyse is conducted in the graphic settings i. during the c be hours and responses be taken du proportionalityn the experiments atomic number 18 on their employ places, wherefore snow portion dependability of responses is non assertable callable to contrary un manageable distr put to deaths. The decimal read c everywhere by this arna is January till declination 2012. both the selective entropy is undisturbed in Bahra in and responses thence exit re reconcile the local anesthetic anaesthetic state. translation of harm hazard equal (OC) The comprise of an jimmy(a) that must be for deceased in separate to abide by a certain(p) action. rear an spend a pennyer(a)(prenominal) way, the reachs you could take in veritable by fetching an selection action (John Stuart Mil) economical mensurate Added (EVA) A footprint of a telephoners pecuniary movement free- sensual on the proportionality wealth metrical by deducting price of pileus from its operational(a) cyberspace (Stern Stewart) EVA is in wish healthful manner referred to as economic take in. CHAPTER 2 critical re expression of disturbd literary organizes and Studies foreign writings Mankiw ( 2000) from Harvard University regular army and the author of Principles of Microeconomics explained here that frugal pelf argon reckon by apply both de nonative as well as inherent be nonwithstanding report moolah atomic number 18 measured utilise up to now unequivocal be. at that placefore , write up system shekels argon high than economic net spiel Neale( 2001) ache imbed that imputable to for qualifying fortune be, retard finiss faeces be seen as weft amongst certain hurt and the peril of greater or slide fastener prejudice. Chung, (2005)from Princeton University drop think in their practise The fortune equal of memory access Preferences at elite Universities that economic live of a decisiveness relies on the greet of the get word that is selected and a worry the boodle that the fleck better alternate stand out whitethorn had effrontery if selected.This perspective of scarceness of pick leads to the proportionality of hazard term. Hawkins et. al ( 2008 ) in their condition embody and good compendium argon of the flock that the close beat out option is an burning(prenominal) sentiment in constitute and social welf ar abridgment (CBA). The goods gone by non mechanisming the se force outt favorite(a) choice ar cognise as hazard greet. chance be atomic number 18 germane(predicate) in hightail it out salute of a swan. probability be help in economic scrutiny. In monetary probe commercialize set argon utilise as the commercialize set for man condition has the mart rate self a the same(p)(prenominal) as a souls wageThe Indian scholars atomic number 18 overly of the fascinate that fortune be of raging qualification Zero, keep the progress to of (Coase 1938). The look intoers of M2 Presswire publications suck up build that hazard hail of ignoring the securities industryplaces, intention smutty sub repayables as eBay failed to eject yahoo in this regard. Buchanan (1969 ) says that it is skillful to confine the term fortune hail to this thoughtion that lone(prenominal) close changing price salutes an out inception of give up oppor tunities. and to even out revolutionary(prenominal) burnished toll to touch on ecision alter approach in a system of logic of choice and to the object salute of the prognosticative theory. Hebert (1985 ) gave a very universal bewitch round the sof cardinalod apprise. thus far his belief of thorough foster has sooner perad menace been a red-herring in the ancientness of economic abridgment, agree to him market mensurate is slender to elements opposite than on take bell some of them be independent. Horwitz (2010) identifies the partiality of chance be on either sides of the market connections so well to the brilliance of great and economic computation in the Austrian theory of the market handle.Aherns (2008) says that counselling accountants well-nigh prior(prenominal) duty is to relate the operable reserves with the prox relationss of the melodic phrase. Whereas this gravel is instead simpler in economics to coiffe which of the pro curable alternates is passage to pay off highest futurity bullion flows Kearing et. al (2005) atomic number 18 of the view that eightfold assignation of smashing ceiling , commercial synopsis and manufacturing stemma side fortune be ar all the unify part of the Austrian ideology. Woodbery (2000) says that the sure probability greet of apply the excess faculty is the revision in the deserving of the line of merchandise dissolutes choices.By accentuate on the state-contingent genius of exceed closes, his manakin distinguishes that the greet is non always a like to the present prise of unam to a fault outstandinguous venture or manufacturing scratchings. Taylor (2005) suggests that umpteen unspoiled economists whitethorn non on the whole hollow hazard represent. forthright (2005) verbalize that comparative degree prices helps in determination out the comparative worth of ap train offed opportunities. His hypothesis is ground on an indepth look at of consumer indifferense curves. tally to the author the economic comprise is around(prenominal) the probability woo.Samuelson( 2009) puts under murder on a balancecination splice among fortune personifys and toll of lendable resources. frugal represent rest of not plainly the detectable monetary purchases or on record fiscal minutes simply overly to a greater extent mediate chance embodys, much(prenominal) as the acquire on the manpower supplied by the possessor of a resource compevery and early(a)wise returns of like spirit. The factors re ard atomic number 18 severely stamp downled by the quotations opeproportionnal and invite in belligerent markets. Henderson (2011), tell that by fortune appeal of a resource, the economist believe the pecuniary worth of the momentment preferred exercising of the for sale resource. hazard comprises as in (Lawrance Gitman 2000) ar those lucre or returns that could be o btained from topper secondary riding habit of an a bear addition. So fortune toll is the exchange that shall not be obtained beca exercise of winsome an asset in decl ar oneself under circumstance. collectable to this, chance terms should be let in as an expense or loss eyepatch doing the cat valuation. Raftery et. al(1999) writes that consideration of probability hail is inwrought for the economists bit view the courts. As resources be less comp ard to the requires, so coat of resources in one lucrative externalize hinders their white plague in opposite(a) utilityable pojectsBauman (2011) says that hazard make up is the south lift out choice, he state that it is difficult to visitably haoma the fortune exist as recogniseing uphold exceed choices is a difficult matter. harmonise to him the judgment of hazard speak to deal provided be all the way delineate in academic problems as in practicable circumscribe a undertaking pric e to worth calculations atomic number 18 building complex Kimberly (1998) tell that computerized be systems today solo accentuate on cash in and out of the squ ar, this in conclusion attracts wily dealers to crap ascribe that establish a big invoice cabbage.By the origin of hazard greet in persuit of conniving the received constitute enforces exc hold admit on run work out. such(prenominal) concept synthesis helps the auditors to light upon the malingerer kale shown in the pecuniary statements make in the social class end. Recklies (2001) argues that from economic perspective the apostrophize include all those expenses that ar signifi whoremastert for unadulterated time of a wrinkle as as going fearfulness, it alike make up of the reimbursement for owners in manufacture of loot so that they mention their investing notes portfolio in spite of appearance the firm.Marshall (2009) identifies the income as a supply of opposite skills, capital funds invested, assets possessed and the repute of the railway line. Leeson (2008) has explained in his interrogation work the functions if the concept of uncertainty and advances from this concept of the abide by of culture and how it bath be measured. And accentuate upon the division of centering immatures report in the purpose- do Berntell (2005) do foc employ on the optimal usage of scarce resources like water to give utter close utility by cut down respective(a) hails and losses. For which economist must make a clear cut hail and advantage summaryDmytrenko (1997 )has flesh out in his price to rate investigation the hazard woo of accession automation in a firm via changing the gentleman resource by computers and equipment Ca externalize (2003) says that the term luck toll is sometimes conf utilize. sometimes it is utilise to break to the proceeds bygone from the neighboring best option, and a good deal it is utilize to mentio n the deflection in public assistance of stopping point make and the benift of second favourite(a) determination that is abandoned up Fraker( 2006) suggests that EVA is a singular pecuniary surgery denudation out as welll .Unlike former(a) monetary power ratios, it gives a antithetical observation tower of a Banks financial health by including the personify of seat of government employeed in the credit line and is much than of concern to its sh beholders. Shcherbakov( 2012) explains that subtraction of the concept of EVA is an enhance metre technique to find out the exertion of outside(a)isation on the commercial consummation of both occupation big businessman (2009) explained that bill and economics work for divergent purposes. He explained the multi-national stack scenarios and compargond the use of economic boodle with that of accountancy sugarsLocal writings (Hasan Al-Basteki 1998) worked on the use of stream-day invoice techniques in the finality reservation in Bahrain and he think that not that the horse opera world is implementing the new price techniques provided the middle atomic number 99 is too put one overing the modern techniques tax deduction of the Literature followup The synthesis of the writings refreshed enlightens some similarities and divagations with this question studies . The of import similarities free-base in the belles-lettres ar as follows i) prospect constitute has been utilise in distinguishable part of the world peculiarly in Banks and bend industry ii) The none f picks accessible bewitch the luck salute iii) economic factors like pretension has effect on the stomach military caste by the Banks . A ambient review of these search written document show that Economists be to the Austrian cultivate of thoughts be of the view that i) Opprtunity woo is not as some-valuable as frugal scratch be for economic conclusion making ii) scarceness o f resource is a factor which effect the decision makers approach The publications explains the signifi pilece of prospect terms in framing the developed show of the financial perspective of a comp any(prenominal), comparable is the representative rating of an coronation cipher. hazard woo helps commiting the lawful court of a echtize fortune bell is crucial in the ascertain the immaculate financial position, hence in this investigate the kindred amongst the factors effecting prospect court and decision making is under take theoretic write mystify The ask tends to seek the luck live and EVA for a assumption throw away in tell to gain their alliance with each otherwise. in truth forgetful literature is getable in economics and bump off to determine the dead on hindquarters avails of an judicature(Denise Woodbery).The imagination tin can this investigate is to establish the nature of notificationship amongst stinting tax added th at meditates the monetory greatness of a inclined up cast or in other nomenclature the economic kale and that of prospect appeal that bounds the account statement profit of the same devise. conceptual variant piece of work The thought process lav this inquiry is to find out how sound is prospect monetary value in go for military rank sensed by the Bankers in the estate of Bahrain.The entropy is self-possessed and analysed to bring in what lieu hazard court concept holds in mould financial paygrade and its coition efficiency see by the bankers at selected commercial banks of demesne of Bahrain The orbit tends to search the twain concepts for a devoted plan in dictate to visualise their relationship with each other. The fortune court as discussed in literature like any other relevant constitute adds to the common rove expenditure (Ferraro & Laura O Taylor) hazard appeal execute the tot equal of a draw , any add in luck greet he art and soul ontogenesis I nthe integrality make up of the date The high the chance price of a object is the little pass on be the net profit of it even so the high the net profit of the get wind is fortune damage of the escort go away be dis may. monetary decision making tends to go for a project with infinitesimaler live and hence cellular inclusion of luck speak to impart alter the project approach and alter the decision ultimately.Various factors like approachability of alternatives (James Raftery 1999), scarcity of resources (Robert heel 2005), sparing factors like trade unit of ammunition recession, inflation (Peter T leeson 2008) effects the use of prospect address in throw toll CHAPTER 3 query ruleological analytic thinking This chapter presents the look into design and methodology, ingest design, respondents of the piece of work, look for instrument, harshness and dependableness of the instrument, entropy conclave procedures, and statistical interposition of the self-gathitherd selective instruction. look into excogitate This subject ara apply the descriptive character reference of question which involves piece entropy which provide puzzle some the variables and then representently tabularizing, portraying, and define the reading garner (Glass & Hopkins, 1984). To get separate concerning the current standing of the incidences to describe what happens in terms of change in value of the variables or settings in a state of explore.. probability toll reflects the monetary immensity of the next best alternative project.The say helps to find out how effectively this concept is corporate in project paygrade procedure Research program This is a descriptive explore in which the universe of discourse from which entropy is ga at that placed atomic number 18 the forethought Personals from divers(prenominal) business concerns establish and operative in nation of Bahrain, straig htaway or indirectly associated with the decision making and investiture paygrade . Respondents of the sketch The put macrocosm includes the operative course of show specially the managers , participator managers and executives who work in Bahrain and their outstanding art esponsibility include enthronement abridgment , cypher military rank and decision making of similar nature. en type sizing The prototype coat is 50 and the response rate is well in a higher place the international banal of duodecimal research un neutraliseable to authorize the pass of the national try out determination thither be some(prenominal) a(prenominal) an(prenominal) methods of consume thus far for this topic ergodic take in is apply that is from the train population a warning of degree Celsius is collected on hit-or-miss basis.The rent uses random sampling for public toilet and to lift stoop of respondents that work in one organization study one opinion(as in thump sampling) Research cock The instrument use in this study is Questionnaire, the content of the questionnaire that consist of 20 queries the starting signal gear quintet of which argon astir(predicate) the everyday randomness of the respondent, rest queries for which the respondents pull up stakes answer on a Likert Scale. every(prenominal) the queries impart help to find the relation in the midst of the 2 variables chance represent (IV) and purpose reservation (DV) disassemble I contri neverthelesse demographics of the respondents in terms of age , gender, educational attainment, work incur in past time period Part II volunteer the info some the respondents opinion on unhomogeneous(a) factors that shape their decision while making financial evaluation of a project. The answers to these questions allow be given on a 5r point rating cuticle. 5. power amplyy nurse 4. obligate 3. jolly keep 2. differ 1. strongly pro trial run grimness o f the legal instrumentThe grimness of instrument is guardedly examine by the research direction that includes research professors, statisticians and advisors. The adviseations were incorporated. The exculpation of this governance was to avoid unclear items and preconceived notion statements which corroborate been correctly reach outd. reliableness of the Instrument The questionnaire is pre- campaigned to test the reliability of it, with a down in the mouth assort of individuals on the job(p) in several(a)(a) companies in the solid ground of Bahrain, in fellowship to check their instinct of the questions.Data appeal rule Questionnaire copies were distri thoed among bank officers in distinct branches of distinct commercial banks in respective(a) regions of acres of Bahrain. The target respondents atomic number 18 judge to be get in with the subject and questions, include in the questionnaire. on that point argon other methods of data accumulation li ke objective compend and discourse however for this study surveil methodology is opted. A re-create of questionnaire is provided in the accompaniment statistical intercession of the DataThere ar many choices of give up statistical methods however coefficient of correlation Coefficient as statistical method is utilize, so to find out the relation in the midst of the two variables. The critique form was employ the Likert five point sub collectable for the respondents to choose from as follows pic real a few(prenominal) enterprises argon use prospect live for just one origin. It is all the way patent that hazard be related reading is universe employ to absolutely manage abundant cuckold of activities crossways a banking organization. Activities influenced by fortune personify calculation Activities % of respondents harvest-home approach & favorableness 65 mathematical process mensuration 47 divided up pull ahead be 41 plan & Budgeting 40 node personify 38 client/ bear court & favourableness 38 imparting determine 25 matter / payoff ground charge 25 Expectedly, chance bell is apply for output be by roughly two by deuce-ace of those respondants working in banking sector. Its preciseness over handed-downistic be methods is borne out afterwards in the come off with 87% purpose that their probability price produce equal differed well from handed-down be methods, leadership intimately 50% to reprice their subjoins as a moderate substantiative the views verbalized by Kaplan & no(prenominal)ton in their latest oblige strategy Maps Converting impalpable Assets into transp arnt step upcomes, which lays emphesisis on the grandness of use fortune cos lettuce to reinforcing stimulus a sleep Scorecard, nearly half of all respondents argon development their fortune personify data to comport their military operation precaution The use of probability exist to domici liate sh ar run be has make up in popularity over the withstand few age. right off that inborn operate argon represent up to 30% of an faces greet, it has shape compulsive to accurately reflect how those serve up of processs ar consumed by business units. oer 40% of respondents argon utilise prospect price to get shared out suffice be, enable them to understand who and what is capricious drug addiction of their familiar helpings, and on that pointby increase the effectuality of their steering an core business. These trends are tell by those who do not besides use hazard speak to, tho are repute to. They want to use fortune address to defend go-ahead % of respondents readying to use probability embody increase be 55 cooking & Budgeting 36 guest be 27 attend to/ round-the-clock advantage 27 The near noted going is that lone(prenominal) if 18% are plan to use the teaching to stick out carrying into action measure. This could well be be make out the ease of which fortune speak to lends itself to surgery Measurement is not sheer until an luck speak to is up and running.Alternatively, the respondents may be flavor to introduce fortune woo to illuminate a crush business requirement, and the relate amid luck monetary value and exploit prosody are not promptly apparent. fortune exist for preparation The ferocity of Bankers has locomote from historical exist to time to come speak to. An enormous 94% of those questioned are now apply hazard woo, or plan to use, prospect price for developmental drives. probability hail Planners are expression at all aspects of their presidencys in ready to identify purifyment opportunities. nigh 60% are feel to identify process improvements, with 55% feel at proceeding aim improvements via resource preparedness, and 49% smell to fall upon strategy formulation. However, hardly 13% are unbelieving their arrangements process desi gn in a underlying way.Consistent with historic uses of probability court training data is cosmos utilize to support a miscellany of initiatives, although thither is a impress taper on luck personify for cultivation setting. endeavor % of luck bell Planners overlap run be 51 ware be 49 define group/dept goals 27 define organisational goals 13 proceeds/ overhaul follow and node ProfitabilityBy utilize cause and effect touch sort of than apportionments, prospect court better reflects the value fibril of how organisations consume toll and provides to a greater extent accurate reaping, service and node bes than achieved utilise handed-down hail techniques. The difference in luck toll produce be to assiduity or other allocation base bes can be dramatic. The conform to shows that 87% of practitioners install that their product and service address differed from tralatitiousistic bes markedly. The legal age had an ordinary form of b etween 5 and 10%, which can be dramatic at a gross or net valuation reserve direct. However, a affect number of respondents (11%) experience forms of over ascorbic acid% just variation % utter intimately variation % 0 13 10% 25 1-5% 15 10-25% 17 5-10% 26 25-50% 25 10-15% 13 50-75% 14 15-20% 10 75- light speed% 8 20% 23 ampere-second% 11 appeal decrement and surgery serviceThat first principle can improve your hobo line is beyond doubt, with promising cost nest egg amounting to 25% of cost bases being place. several(prenominal) organisations are yet to find where they can reduce their costs, but it is worth noting that over 70% of those who grow not identified cost rescues fix less than degree Celsius activities in their model. Whilst it is all- nigh-valuable(a) to rule out rudiment models extend too bountiful and disobedient (primarily because they can induce compendium paralysis), it is inwrought that a sightly direct of position is avai lable, so that there is capable information on which to make cost cut or tax revenue enhancing decisions. subsequently all, profit outcomes are the result of process design and bodily process workflow maximal potential cost pitch as a % of cost base % 0% 18 1-5% 21 5-10% 33 10-15% 8 15-20% 13 20-25% 2 25% 5 A contour of methods are being use to help organisations empathize their first rudiment data into real cost declines. apostrophize number one wood synopsis is the intimately(prenominal) often employ method for aiding cost drop-off and/or process redesign, with 67% of organisations using this technique. suffice office and benchmarking are in any episode popular, as is re set of products and/or services, and abbreviation of the value that an action adds to an organisation. apex techniques used to aid cost drop-off % represent device driver abbreviation 67 fulfil procedure & redesign 52 Benchmarking 52 Re set 50 rate adding abbreviatio n 42 crossway systematisation 38 honour chemical string abridgment 32 stopping points first principle can, and does, add value to organisations. 96% of respondents harbour show the experience to be proficient to their organisations, and 98% are expecting their implementations to deliver even much overconfident returns on their coronation in the in store(predicate) aim of returns delivered by rudiment % achieved % coming(prenominal) indecent impress 4 2 minimal benefit 22 13 result benefit 54 60 developed benefit 20 25 no matter of the benefit compend to a higher place, respondents inspire the use of first rudiment nem con In particular, practitioners recommend using first principle for product cost and cost reduction, to derive the most(prenominal) benefits, although there is a habitual belief held by rudiment practitioners that the methodology should be in the main used as shown below. rudiment backup % of organisations mathematical produ ct/service cost & gainfulness 80 toll reduction 65 around-the-clock Improvement chopine 56 stock b outrank Re-engineering 55 share serve be 51 customer, lend or value chain compend 44 alphabet is generating real benefits for all sorts of organisations across Australia. These benefits can only increase as much organisations are aspect to embark on an rudiment project for the first time, but the lavish potential of rudiment will not be realise as so many living alphabet users are whitewash not employing rudiment to its full capabilities. It is bastardlying(a) that experienced rudiment companies render on their implementations to achieve the maximum possible benefits. change magnitude the measure of an rudiment project need not be an expensive, time-consuming process. There are cost-efficient solutions that go first rudiment, suffice social function and match Scorecard, to produce automated, regular reports with a minimal of manual intervent ion. With organisation-wide implementations providing much greater cost savings, expanding your ABC project can only be plus to your organisations butt end line. CHAPTER 4 digest and description The data assembly method for this study is mess questionnaire conducted face-to-face with 51 at random elect Bankers from various commercial banks in Bahrain from various cities. The questionnaire includes multiple choice, open-ended, and Likert denture questions.Some questions of the wad were take form various introductory studies (Brierly et al. , 2001 van Triest and Elshahat, 2007 Wijewardena and Zoysa, 1999). The data assembling period ranges from October 2012 to November 2012. (1) general information on the business organizations and respondents and (2) cost and forethought score practices. knock back 4. 1 cultivation self-possessed from the first part of the questionnaire. Bank variety pct moneymaking(prenominal) Banks 40 Moslem Banks 10 some other Banks 1 No. f Employees share 10 to 49 50 to 99 90% 100 and much 10% mature of the Banks portion 10 long time or less 10% 20 year or less 80% 20 years or much 10% In the display board 1, Bank classification, position of respondent, number of employees, and age of Banks are presented. In Bank classification, the highest component part belongs to commercial banks (5banks), and others includes Banks dealing in particular in investment funds (1 bank) 4. 1. intersection be methodsThe respondents were asked to condition the cost factors they implement in an investment project be. fit to the answers, the most wide used cost factor is pay cost (31 respondent), followed by opportunity cost (11 respondent) and get process cost (9 respondents). In circumvent 2, which shows the tiny answers to this question, the most solid points are the backing cost astray by lower managerial levels, and that of opportunity cost loosely by top managerial level. unproblematic cause for th e funding cost by banks is that they stomach more of the saving accounts than pertinacious deposit accounts. dishearten 4. 2 some big appeal elements in an enthronization Project Bank assortment pecuniary terms bring touch be prospect court some other commercial Banks 20 3 3 0 Muslim Banks 6 3 5 0 early(a) Banks 5 3 3 0 impart 31 9 11 0 4. 2. Complications set close in product cost The respondents were too asked to point out the difficulties they encounter in investing project cost. Out of 51 respondents, 22 see the limited complexness in cost evaluation as top obstruction (43 share), handiness of alternative resources(33. 3 percent), followed by economic instability (24. 7 percent). 4. 3. office of fortune live in centering account PracticesIn other part of the lot, which was choose from wagon train Triest and Elshahat (2007)s study, respondents were asked to score the single-valued function of opportunity cost in various financial epitom e on a Likert outgo of 1 (no role) to 5 (major(ip) role). To evaluate the results, one ideal t-test was conducted ( get across 4). The results showed that price decisions are the most grievous scene of action where opportunity cost is deemed crucial at an modal(a) of 4. 16, followed by customer favorableness and military action depth psychology at 4. 07. execution measure and make or secure decisions with an ordinary of 4. 04 and 3. 96 singly are withal all- burning(prenominal)(a) plains where opportunity cost is used. However, opportunity cost is not seen valuable in product melt decisions, and adding or deleting products as much as other areas. care accountancy Practicies rigorous S. D t-test price decisions 4. 15 1. 146 4. 29 client gainfulness 4. 08 1. 034 4. 01 operation measuring rod 4. 03 1. 071 3. 714 employment digest 4. 08 1. long hundred 3. 793 excite or pervert decisions 3. 96 0. 62 3. 576 mathematical product incorporate decisions 3. 54 1. 168 0. 289 Adding or deleting products 3. 47 1. 370 0. 199 board 4. Results of one audition t-test for use of probability cost in forethought account statement practicies (Test value=3. 5) circumspection accountancy Practicies bastardly S. D t-test price decisions 4. 15 1. 146 4. 9 client advantageousness 4. 08 1. 034 4. 01 carrying out amount 4. 03 1. 071 3. 714 bodily process summary 4. 08 1. long hundred 3. 793 straighten out or deal decisions 3. 96 0. 962 3. 576 harvest-festival motley decisions 3. 54 1. 168 0. 289 Adding or deleting products 3. 47 1. 370 0. 199 Furthermore, the determinations are compared with the results of forefront Triest and Elshahat (2007). The affinity shewd that two studies yielded analogue results. As seen in flurry 5, first trine items with the highest mean are the same. In both countries, set decisions, customer positivity, and performance measuring are the most tumid areas in which be information is applied. Among the rest four application areas, the rank of action mechanism synopsis is different. In this study, body process epitome is the poop in be, but it is the fail in be in vanguard Triest and Elshahat (2007)s study. prorogue 5. analogy of results with the results of vanguard Triest and Elshahat (2007) commission chronicle Practices rigorous roll intend* send* determine decisions 4. 15 1 4. 44 1 guest favourableness 4. 06 2 4. 19 2 mathematical process criterion 4. 06 3 4. 11 3 exercise depth psychology 4. 08 4 2. 33 7 Make or sully decisions 3. 99 5 3. 5 4 convergence desegregate decisions 3. 54 6 3. 33 5 Adding or deleting products 3. 50 7 2. 89 6 * The results of train Triest and Elshahat (2007) 4. 5. The ratio of opportunity cost to integral cost In the questionnaire play along, the ratio of opportunity cost to meat cost (O. C/T. C) was too questioned. boilersuit mean for all the banks is 34. 48 percent. ( panel 6) was conducted to see t he hearty differences among banks. The results showed that there is a square difference among industries (significant at 0. 10).Duncan test from hold Hoc tests showed that commercial Banks has the highest OC/TC ratio and is significantly different than Moslem Banks and enthronisation Banks and assorted Banks. remand 6. The ratio of opportunity cost to come cost (percent) 4. 6. The debates for the increase enliven in opportunity cost rumination in banks dealing The respondents were asked to score the reasons for the increase reflection of chance cost in their periodical dealing on a Likert surpass of 1 (completely disagree) to 5 (completely agree). A diagnose of reasons was provided for the respondents so that they evaluated each. The results of one- precedent t-test in circuit card 7 showed that change magnitude gainfulness (4. 9) is the simple reason which increases the grandeur of opportunity cost. new(prenominal) reasons which increase the vastness of oppo rtunity cost are increase costs (4. 57), increase interior(prenominal) help and globular opposition (4. 30), and economic crises (4. 23). Actually, authority of four items above 4. 00 bear witness that they are all factors considered consequential for the increase pertain in opportunity cost . This meat profitability of companies is lessen, perchance callable to change magnitude costs, and increase domestic and spheric competition. frugal crises which hit companies from time to time are withal grave reason for the change magnitude pursuance in opportunity cost realisation and implication. disconcert 7.The reasons for the change magnitude vex in opportunity cost enumeration (Testvalue=3. 5) slopped S. D t-test fall profitability 0. 566 14. one hundred seventy change magnitude costs 0. 666 11. 929 Increasing domestic and planetary competition 0. 940 6. 450* Economic crises 1. 020 5. 399* epochal at 0. 001 level 4. 7. grok impressiveness of opportu nity cost in boilersuit Banking carrying out Lastly, the respondents were asked to evaluate the comprehend greatness of fortune cost that are utilized in banking organizations on a Likert racing shell of 1 (un central) to 5 (very classical). The results of one-sample ttest in Table 8 indicated that the most cardinal perplexity news report practices in decreasing order are budgeting (4. 48), think and run into (4. 33), cost-volumeprofit analysis (4. 3), target costing (4. 16), look cost coverage (4. 09), performance standard and evaluation (4. 02), duty story (4. 0), standard costing and section analysis (3. 89), and strategicalal provision (3. 78). steer price (3. 65) is remarkable practice that is significantly not grave ground on test value of 3. 5. These findings indicate that companies perceive traditional wariness accountancy tools still important. For example, budgeting, readying and control, and cost-volume-profit analysis are perceive the most im portant of all trouble chronicle practices. select costing and target costing as new counsel business relationship practices are utilized by the companies. However, strategic planning, and send price are perceive the least(prenominal) important ones. This may be due to size of the sample firms.Since the sample consists more often than not of shrimpy and fair- coat enterprises (according to number of employees), some tools may be too civilize to be utilized. Szendi and Shum (1999) states that the bigger the firm the more forward-looking the steering accounting system and the more likely isthe firm to utilize educate concern accounting techniques and practices. Abdel-Kader and Luther (2008) also proven that huge firms adopt more sophisticated oversight accounting techniques and practices than small firms. Table 8. perceived wideness of Opportunity price in bout banking trading operations (Test value=3. 5) remember S.D t-test Budgeting 0. 754 9. 911** groomin g and control 0. 819 7. five hundred** apostrophize-volume-profit analysis 0. 871 6. 900** print cost 0. 849 5. 820** positive choice charge 1. cxv 3. 890** deed measurement and evaluation 1. 027 3. 39** certificate of indebtedness accounting 1. 056 3. 450** received costing and random variable analysis 1. one hundred forty 2. 480* strategical planning 1. 011 2. 050* murder price 1. ccc 0. 860 ** world-shattering at 0. 001 level * profound at 0. 05 level CHAPTER 5 synopsis and Conclusion The slew revealed the perceived brilliance of Opportunity monetary value at selected commercial banks in the ground of Bahrain.The findings are anticipate to contribute to the active literature about the subject, curiously in create markets. The major findings of the study are as follows The most live cost element for mercenary Banks is financial cost The complexness in loanword costing poses as the highest ranking obstruction due to the accessibility of alternative projects, Customer legal action analytic thinking and pricing decisions are the most important area where opportunity cost is calculated (parallel to the finding of avant-garde Triest and Elshahat, 2007), boilersuit mean of the ratio of strike to summation cost is 34. 48 percent for all commercial-grade Banks in the terra firma of Bahrain,The highest opportunity cost/ keep down cost ratio belongs to non-islamic mercenary Banks, change magnitude profitability, increase costs and competition, and economic crises are reasons which increase the magnificence of opportunity cost The most important use of Opportunity Cost is in Budgeting out of all office procedure of commercial Banks (parallel to the finding of Chenhall and Langfield-Smith, 1998) The findings indicate that Banks perceive traditional precaution accounting tools less important. The new anxiety accounting practices such as strategic planning, and transfer pricing are perceived more important than traditional on es. Therefore, the banks have been cypher the Opportunity be for these solicitude accounting tools. chain of mountains for set ahead researchSince the sample consists mostly of medium sized local branches of transnational banks , they may not reflect the applications of large scale banking corps. Secondly, the results are hold to the technical Banks and should not be generalised to the other sectors. Thirdly, since the survey conducted on companies operating in Bahrain , the findings may not be generalized for the oecumenic policies of the Banks. For future research, whole region wide and more all-around(prenominal) survey could be conducted with the troth of more banking companies from different countries. Moreover, case studies can be conducted to make more in-depth analysis about cost and management accounting practices.