How does music affect your heart beat? Essay

The heart is a vital organ in the human body. Though only the size of the fist, it pumps blood to the rest of the body by rhythmic expansion and relaxation. The frequency of this cardiac cycle is measured by the term heart rate. The heart rate is the number of contractions (beats) of the heart in a minute. The heart rate tends to increase with response to a wide variety of conditions like vigorous physical activity or according to our hypothesis, music. Music has an arousal effect which is related to its frequency and tempo. Slow or meditative music can induce a relaxing effect and thus put the psychological sense in rest. Music may be used as an alternative technique of relaxation or meditation. Recent research suggests slow music influences a person’s relaxation, and that musical pauses modulate heart rhythms (in a good way). The researchers found that music with faster tempos resulted in increased ventilation, heart rate, and blood pressure. When the music was paused, ventilation, heart rate, and blood pressure decreased, sometimes below the beginning rate. Slower music caused declines in heart rate, with raga music influencing the largest decline. Overall, researchers agreed that the style of music wasn’t as important as its pace. Music has also been shown to reduce stress, benefit athletic performance, and enhance motor function in people with neurological impairments. So turn up the volume and chill out. Listening to music can influence your heart rate and how fast you breathe – especially if you’re a trained musician, a new study indicates. Listening to faster music with a more upbeat tempo has the opposite effect – speeding up respiration and heart rate. The results support a growing body of research on the potential stress-reducing health benefits of music, the researchers say. In the current study, Sleight and colleagues monitored breathing rate, blood  pressure and other heart and respiratory indexes in 24 healthy young men and women, before and while listening to short excerpts of different kinds of music. The music ranged from slow and fast classical compositions of differing complexities to rap. They also monitored the subjects during two minute musical intermissions. Half of the subjects were trained musicians and the other half had no musical training. The investigators report that listening to music initially produces varying levels of arousal – accelerated breathing, increased blood pressure and heart rate – that are directly proportional to the tempo of the music and perhaps the complexity of the rhythm. The style of the music or an individual’s music preference appears less important than the tempo of the music. They also found that calm is induced by slower rhythms and by short pauses or intermissions in the music. Pausing the music for two minutes actually induces a condition of relaxation greater than that observed before subjects began listening to the music tracks, the investigators report. Sleight suggests these effects are most striking for people who have musical training because they have learned to synchronise their breathing with the musical segments. â€Å"Musicians breathe faster with faster tempi, and had slower baseline breathing rates than non-musicians,† he says. The researchers speculate that music may give pleasure, and perhaps health  benefits, because it induces a controlled alteration between arousal and relaxation. They say the present study suggests that an appropriate selection of music – alternating fast and slower rhythms interspersed with pauses – can be used to induce relaxation and may therefore be beneficial in heart disease and stroke. References: above background information obtained from:Reader’s Digest December 2006Specific Research DesignWe will be measuring the heart rates of each subject to determine the effect of music on cardiovascular activity. In order to do this, we first must measure, using a heart rate monitor, the resting heart rate of the subject, as the control. Furthermore, the subject will be asked of their physical activity level, as well as to rank, in terms of preference, thefive genres of music to be used for testing. The subject will then be exposed to, sequentially, five genres of music: 20th century classical, ambient electronica, rock, metal, and rap. During each piece of music the heart rate of the subject will be recorded, and following each piece the subject’s heart will be allowed to return to resting heart rate to eliminate any sampling error that might otherwise occur. Which genre has the greatest effect on heart rate?Aim: To find out which genre of music has the greatest effect on heart rate. Hypothesis: I believe – from research, that either house or rock will get the heart rate going the most. Apparatus:Heart-rate Monitor: This object is usually a strap attached to the person’s chest with electrodes in contact with skin, which detects the hearts voltages. Once these are detected, they are then sent to the receiver through radio signals, which is usually around the wrist. The receiver uses these findings to determine the subject’s heart rate. iPod: This device will be used to expose the subject to the 7 different pieces of music throughout the experiment and at the same volume at 2mins  each song. The Human: The people tested are all between the ages of 18-23 and similar physique to keep a somewhat constant. We are also taking into account their favourite type of music based off of the seven choices we give them to see if this affects the way they react to the stimulus of the music. We are also considering their physical condition, for this will influence the heart’s activity. Method:Step 1. The volunteer was allowed to rest for 1 minute while seated. Step 2. The volunteer’s heart rate was measured using the LifeSource heart rate/blood pressure monitor. Step 3. The first music track was played using a CD player. When the track was completed, the volunteer’s heart rate was recorded. Step 4. The volunteer’s heart rate was recorded after playing each of the 7 music tracks. The music tracks were played consecutively, in the same order for each volunteer as follows:a) Acoustic: No Other Way by Jack Johnsonb) Blues/Jazz: Georgia On My Mind by Ray Charlesc) Classical: Leave No Man Behind by Hans Zimmerd) House/Electronica: La Musique by Riot In Belgiume) Hip-Hop: Don’t Matter by Akonf) R&B: Stronger by Kanye Westg) Rock: Start Me Up by the Rolling StonesVariables:Controlled: Ipod, volume, songs, heart rate monitor, time of music play, volunteer’s age bracket and gender. Dependent: Heart rate of volunteers measured in beats per minute. Independent: The songs played, time of play, different volunteer. This shows that the tempo is like the human heart and how it beats. Conclusion:From the experiment, I found that the genre of Dance, House/Electronica had the most affect on heart rate with an average of 69.7 beats per min. The genre of Classical music had the least affect on the heart rate with an average of 57.3 beats per min. Bibliography: Reader’s Digest, sciencebuddies.org, www.uncp.edu, en.wikipedia.org/wiki/, agsci.eliz.tased.edu.au, Encarta, sonybmg.com.au, musiclab.com, Mozart.org/

Media Example

Music and Lyrics is a film featuring Drew Barrymore and Hugh Grant (Music and Lyrics, 2007). Hugh Grant plays the role of Alex Fletcher, who was a famous pop star in the 1980s and Drew Barrymore plays Sophie Fisher, a frustrated literary writer. In the movie, Fletcher was constrained to use the medium of a song in order to communicate his apologies for saying awful things to Fisher (Music and Lyrics, 2007). In so doing, Fletcher demonstrated his knowledge of interpersonal skills in winning over Fisher. Communication skills refer to a person’s ability to effectively articulate a specific message through written, verbal, or graphic means (Floren, 1998). These skills include the ability to present an idea clearly, resolve conflicts skillfully, and utilize technologies as means to put a message through (Floren, 1998). In the scene in the movie Music and Lyrics where Flectcher sang a heartfelt song of apology to Fisher, the former was able to exhibit all the abovementioned communication skills. He had a specific message in mind; he meant to apologize to Fisher for saying awful things. He also intended to, and succeeded in, expressing his true feelings for Fisher (Music and Lyrics, 2007). Fletcher was successful in presenting his idea clearly (Floren, 1998). He used carefully chosen lyrics that could put his message through, even using rhyme and music for artistry. In such a short period consisting of less than five minutes, Fletcher was able to mention Fisher’s specific endearing habits. He was also able to sing about the way that Fisher was able to make him feel better. Finally, Fletcher’s song served a major purpose of communication, which is conflict resolution (Floren, 1998). The song was so honest that there could have been no other ending for the story but to have Fisher accept Fletcher’s apology. References Music and Lyrics. (2007). Warner Brothers. Retrieved February 22, 2007 Floren, G. L. (1998). Marketable Skills and Attitudes. Retrieved February 23, 2007 Â   Â  

Globalization and Religion in Latin America Essay

Dr. Marian Cusimano Love’s argument on globalization is very clear and straight forward as she pointed out the other side of globalization, which according to her creates institutional crises â€Å"as existing states and regimes are having difficulties in coping with the challenges globalization brings† (p. 2). She contends that this difficulty creates and exacerbates institutional gap. The institutional gap according to the author is that while globalization is at fast pace, institutional responses is slow. The problems move faster than the solutions to it and this cannot be managed by any government alone even by the strongest state in the world. However the author’s emphasis falls on the institutional gap that exists between the rich and poor countries. Here, the author rightly pointed out the wide discrepancy of the rich and poor countries in the sharing of the benefits of globalization. The author argues that only the rich countries led by the United States enjoy the benefits of globalization as the world economy is ruled by Multinational Corporation, which only cares about profits while the states seek wealth and development. Thus, the author pointed out that whether globalization is driven by multinational companies or by powerful states,† many observers decry the ethical basis of globalization is driven by an ethic of crass materialism and consumption, or western cultural imperialism† (p. 4) As the ethical issue widens, the author emphasized that today more than half of the world’s population are not getting any benefits of globalization, and human development is unfulfilled, sacred creation is destroyed, and human life is lost. This emphasis clearly implies a strong course of action in favor of the poor people or poor states that cannot advance or protect their interest in the global economy. The author noted that this problem is looming and worsening as the world’s poorest population is growing which will further enhance the gap between the rich and the poor. The author’s discussion of the unequal sharing of the benefits of globalization calls for a unified response from rich countries on the growing ethical concerns between the rich and poor countries, because, after all poor people are also sacred creation. But as the author turned to religion to search for answer to the growing institutional and ethical crises brought about by globalization, it appears that this is not possible as the corporations and states are not only engines but are both engine and beneficiaries of globalization. In turning to religion, the author presented an entirely different view from that of the states or corporation. The author noted that corporations view people as a source of profit while the state sees people as a subject to be governed or taxpayers. Religion sees people not as an instrument or a servant or useful object, but a spiritual being created by God, therefore he must be independent. He has the right to share in the blessings, which is the product of economic development. The author argues, â€Å"Religious organization has long been playing an active role in globalization† (p. 5), and can be a mediating institution in the institutional and ethical gap between the rich and the poor. I believed that the author is right in saying that religious organization â€Å"may have some advantages in responding to these institutional gaps, to help manage the problem of globalization† (p. 6). Indeed, many religious international organizations are doing exactly these things. The author cited that there is already a course of action taken in coordination with the Roman Catholic bishops of Latin America and the Canadian Bishops Conference, which is a seminar on debt relief for heavily indebted poor countries. This is important course of action because it proves that religious institution can indeed fulfill the task of bridging the gap between the rich and the poor. The Latin American Catholic bishops were coordinated for the conference for the reason perhaps that many of the world’s poorer country is located in Latin America. It is where most of these ethical problems relating to benefit of globalization are generally experienced. In bridging the gap by the Catholic Church, the author pointed out that the US bishops and the United States Catholic Church â€Å"may not be well equipped to bridge the gaps created by global problems† (P. 8) as US Catholic bishops are not quick to make decisions, and â€Å"many developing countries believed that globalization benefits the US at their expense† (p 8). I think these reasons are valid, as it has been mentioned in this paper that the US along with other rich countries and multinational corporations are the ones who get most of the globalization benefits. But Catholic Church is a global institution with highly organized yet centralized leadership, which would be ideal in mediating or bridging the gap created by the problem of globalization. The Latin American Catholic Church can perfectly facilitates this bridging as the economy of most Latin American nation belongs to the third world economies. They maybe fully know the whole agenda of bridging the gaps between the poor and the rich economies of the world. The author noted that the Catholic Church has over 2000 years’ experience as a global institution, which made the Catholic Church deserving of the task. Furthermore the author pointed out that â€Å"globalization brings institutional gaps, but the Catholic Church has rich, extensive networks and institutions, from schools and hospitals to parishes and social development agencies, which are not only service oriented but in it for the long haul† (p.8). Religion bridges the institutional gap of rich and poor by presenting alternative visions of globalization, which is seeing people not as market, nor instrument but people of God that participate in the benefits of globalization. Work Cited Love, Maryann Cusimano. Bridging the Gap: Globalization and Religion, and the Institutions of the U. S. Catholic Church. USA: American Academy of Religions Conference, November 20, 2001.

2 QUESTIONS IN CRIMINOLOGY Coursework Example | Topics and Well Written Essays - 500 words

2 QUESTIONS IN CRIMINOLOGY - Coursework Example And yet, he had managed to throw one of the most peaceful and stable countries in the world in a state of utter shock and disarray. An important lesson that this teaches us is that the criminal mind is constantly evolving and characterizations of criminals can change faster than we think. It is important therefore that the research continues and adapts to the changing times. (Ellis, Hartley, Walsh: 2010). Let me argue three specific reasons as to why criminal justice research is of utmost importance. First, modern technology has given criminals more weapons than ever before and also, more opportunities to commit their crimes. The internet, which just two decades ago, was not seen as a vehicle to commit crime is now a favorite haunt of criminals – from con artists embezzling money from gullible individuals, to pedophiles preying on unsuspecting children or selling child pornography, to even identity theft. Hence, if law enforcement wants to keep with the times, it has to keep abreast of this new technology. Even new ammunition, such as new bomb-making techniques, are developing by the day. Law enforcement will be at a loss if it fails to be apprised of these new developments. Second, the profiles of criminal offenders are constantly changing. For example, new research has surfaced disputing the conventional notion that crime is more often than not committed by young men. In fact, in a study published in the Journal of Criminal Justice Research it was found that â€Å"offenders aged 25 and over were responsible for the majority of the crime.† (Diplock and Pleckas: 2010: 1). Criminal justice research must be knowledgeable in these trends in order to do better law enforcement. Thirdly, criminal laws are constantly changing, and procedural due process guidelines can be different now than they were before. Hence, legal updating is in order to ensure that law enforcement officials do not overstep their boundaries or otherwise act in a manner

Evolutionary Phonology Essay Example | Topics and Well Written Essays - 9750 words

Evolutionary Phonology - Essay Example s new ground in addressing the interrelationship between classic linguistic theory, phonetics and phonological theory to propose a new model of sound patterns, which moves away from some of the assumptions of the previous synchronistic approach. In doing so Blevins’ evolutionary model undertakes a detailed examination of variations in sound patterns and sound changes over a period of 7,000 to 8,000 years and uses this time period to address the similarities between genetically unrelated languages (Blevins 1). â€Å"One of multiple mechanisms leading to regular sound change and regular sound patterns. Within evolutionary phonology, as in traditional neogrammarian models, variability along the hyper-to-hypoarticulation continuum provides the exemplar space from which new phonological representations can emerge† (Sole et al, 151). The focus of this paper is to critically evaluate Blevins’ model of evolutionary phonology and it is submitted at the outset that the defining element of Blevins’ model for phonetics is that she seeks to explain the similarities and developments in sound patterns as opposed to accepting pre-existing assumptions in synchronic linguistic theory pertaining to phonetics and final voicing in particular. Moreover, Blevins undertakes both a quantitative and qualitative approach to her research in order to formulate further research questions regarding the current predominance of a synchronistic model for addressing recurring sound patterns. To this end, Blevins utilises the quantitative approach as a precursor to the qualitative research in order to support her findings in proposing an evolutionary phonology paradigm. Nevertheless, whilst it is submitted that the evolutionary phonology model undoubtedly breaks new ground in addressing causality in recurrent sound patterns from a historicist perspective; Blevins’ work clearly underlines the need to undertake further research in this area. Accordingly, in evaluating Blevins’

I need to analyze the impact that two trade blocs have on Essay

I need to analyze the impact that two trade blocs have on globalization. To analyze the NAFTA (The North American Free Trade Agreement) trade bloc as well as CEFTA (Central European Free Trade Agreement) - Essay Example NAFTA is the short for North American Free Trade Agreement, with partners including United States, Canada and Mexico. Officially agreed upon in 1992, the concept already had been conceived during 1980s when US President Ronald Reagan expressed his desire to form a unified North American market (Baliles, 2010, Para. 1). CEFTA (Central European Free Trade Agreement), also signed in 1992, on the other hand is an association formed between the non-Euro nations, which are mainly concentrated around Central and South-Eastern Europe. Initially comprising fourteen nations, the number of membership gradually receded to five with some of them moving into the Euro zone. The five member nations are Poland, The Czech Republic, Slovakia, Hungary and Slovenia) (Pal, n.d., p. 1). Purpose behind the formation of either trade bloc had been promotion of economic growth over the respective regions. Consolidation of nations to form an entity actually facilitates in gaining market and barg aining powers among the international community. These were indeed, the fundamental objectives which played in the minds of the founders while shaping their ideas Consolidation of the NAFTA has resulted to an agricultural boom over the region, which has added to the aggregate agricultural supplies of the world. Moreover, Canada had almost been unnoticed prior to its incorporation, but the world soon realized the nation’s immense investment potentials once that its presence was felt. Member nations of CEFTA too are primarily dependent upon agriculture. Given their enhanced power, the CEFTA nations now export their produce more efficiently and in a manner so as to trigger widespread market demand (Pal, n.d., p. 3). Hence, they too have added to aggregate agricultural products, besides expanding the consumption goods basket.

Testing Research Paper Example | Topics and Well Written Essays - 2000 words

Testing - Research Paper Example Test methods include, but are not restricted to, the process of using an application or program with the aim of finding software errors, bugs or other defects (Humble & Farley, 2010). Testing begins the same time as the system design. Test groundwork is carried out by a unique group to make sure that each and every element is correctly handled. Unit test is managed by the programmer who creates the code. Every programmer tests their own code. Any bug found is rectified by the programmer, and the programs are reevaluated till clean (Humble & Farley, 2010). When testing has been done to all the programs, and no error has been found, the test begins. The division of debugging from testing was originally introduced, in 1979, by Glenford Myers (Ammann & Offutt, 2008). Even if, his goal was on breakage testing ("an effective test is one that locates a bug") it demonstrates the need of the software engineering society to divide fundamental development actions, such as repairing, from that o f authentication. Concerning the periods and the diverse objectives in software testing, diverse roles have been set: manager, test lead, test designer, test analyst, tester, test administrator and automation developer. Ammann & Offutt (2008) classified the goals and phases in software testing in the following stages: Debugging oriented (1956) Demonstration oriented (1957–1978) Destruction oriented (1979–1982) Evaluation oriented (1983–1987) Prevention oriented (1988–2000) How Testing is Controlled Test control can be considered as the test management tasks needed throughout the test procedure so as to keep the testing aligned to the software development procedure, the requirements of the project, and the requirements of the firm wanting to use the software (Miller, DeCarlo & Mathur, 2004). These tasks take place as stipulated, based on the decision of the test manager, as well as other associates of the project team, and can also occur on a premeditated basis (Miller, DeCarlo & Mathur, 2004). Testing is controlled by ensuring that Software Quality Control is set up. Software Quality Control refers to a set of protocols used by companies to make sure that a software product will fulfill its quality objectives at the best value to the client, and frequently to improve the firm’s capacity to produce more software products in the future. Software quality controls are specified requirements, both functional and non-functional, such as supportability, usability and performance (Cangussu, DeCarlo & Mathur, 2002). It also refers to the capacity for software to perform effectively in unpredictable scenarios and maintain a fairly low fault rate. These premeditated procedures and requirements bring about the idea of software testing, Validation and Verification It is different from software quality assurance, which incorporates reviews of the quality management system alongside a standard. While software quality control refers to contr ol or management of products, software quality assurance, on the other hand, is a control of processes. This function checks whether or not a software project follows its premeditated procedures and processes, and that the project brings out the anticipated internal and external products (output) (Miller, DeCarlo & Mathur, 2004). Managing Creativity When managing creativity with regards to software management, it is vital to differentiate two main viewpoints: activity-level (or task-level) analysis, as well as process-level analysis. The activity-level viewpoint pertains to the issues of how pockets of creativity are typified and how they can be endorsed (Sommerville, 2006). The process-level

Business strategy Essay Example | Topics and Well Written Essays - 1250 words - 3

Business strategy - Essay Example The concerned company believes that its leading market position and increasing scale will provide significant opportunities for enhancing its profitability. The mission of the concerned company is creating a difference in the lives of the people through excellent patient care services. The organization abides by the ethics and codes of conduct in offering adequate service to its customers. It plays an important and vital role in ensuring wellness of its patients. It is considered as the second largest health care service provider in terms of its market capitalization. It operates in various Asian countries which include India, Singapore, Malaysia, Hong Kong, Republic of China and turkey. It also extended its services in UAE, Vietnam and Iraq.IHH focuses on quality, revenue and cost synergies in order to generate profitability from its operations. The concerned organization will be able to generate adequate revenue from its business in the future. It mainly aims in expanding and strengthening its business operation in the home and international market. The income statement of the company reveals that the total revenue generated by the co mpany increased in the recent years as compared to the previous years (IHH healthcare Berhad, 2012). The concerned company has the ability to generate an increase in its income level at a constant rate and it is likely to experience high growth rate and profitability in the future, it can gain competitive advantage over its competitors. IHH is a leading health care provider which has its operations primarily in the CEEMENA region. The group operates and maintains different brands of healthcare facilities which have a name for themselves. As a listed health care operator, the group is the 2nd largest in the world in terms of market capitalization. Each brand in which the company has invested is recognized as a premium one that operates in the home market in which it is established.

Eating in Sociological Perspective and Culture in Every Day Life Essay

Eating in Sociological Perspective and Culture in Every Day Life - Essay Example The most important objectives of the human beings were to collect food for their survival. At least 10 thousand years ago, human beings started agriculture, which has altered/changed the complete way of eating. With the advancement of the human beings socially and culturally the way of eating has changed all the way. Socialization and Culture of mankind plays a major role in change of eating practices. The way of food preparation, presentation and eating has changed with time, location and culture. Here we are concerned with eating in a social and cultural perspective in everyday life. Food is life, food what is eaten, when it is eaten and how it is eaten says a great deal about the culture. It is the center stage of every society, family and culture. In every culture eating has its unique way. Basically culture in its broader term includes all the acquired specialties of the mankind. To understand eating culture we have to understand the culture first. Culture can be defined as "The total general organized way of life including value, norms, institutions and artifacts that is passed on from generation to generation by learning alone". (Jary & Jary, 1991) E.B. Culture has been called "the way of life for the entire society". As such it includes code of manners, dress, language, eating, religion, rituals, norms of behaviour and system of belief. E.B. Tylor (1871) defined culture as "Culture of civilization taken in its wide ethnographic sense is that comply whole, which includes knowledge, belief, art, moral, law, customs or any other capabilities and habits acquired by man as a member of Society". Recently UNESCO(2002), defined culture as "Culture should regarded as the set of distinctive spiritual, material, intellectual and emotional features of the society or a social group and that it encompasses, in addition to art and literature, lifestyles, way of living together, value systems, traditions and beliefs." So, it has been quite clear from the above definitions of culture that it necessarily includes eating and it is one of the most important characteristics of every culture. Every home in almost every culture have a place devoted to the preparation of the meal and also have a specified place for eating. Most societies have restaurants and hotels to eat away from home. Eating varies from individuals to individuals in a day, their size of consumption, when and how meals are prepared and eaten varies around the World. Most individual have fairly regular daily pattern of eating occurs 2-3 meals per day. The diversity of eating could be attributed to a number of local factors, which include climate, ecology, economy, cultural traditions and industrialization. Eating always has an important role to play in almost all the social occasions and celebrations of many key cultural and religious festivals in our daily life. Without eating any function or celebration cannot be treated as complete. So eating has major role in every social and cultural aspect of our daily life. Eating is inherently area specific and cultural. Different places and different people have their different way of eating identifies their cultural identities. Eating is associated with culture, people and places. Food feeds our cultural stereotypes. It is a

Commodity chain Essay Example | Topics and Well Written Essays - 500 words - 1

Commodity chain - Essay Example Among the alternatives to the traditional plastic grocery bags, the study of Environmental Agency UK Draft Report showed that that cotton bags has the lowest potential for global warming. Compared to the traditional plastic grocery bags that is made from high-density polyethylene (HDPE), cotton bags can only pose to be harmful to the environment after using it 131 times compared to HDPE bags usage of only 3 times (The Green Supply Chain Editorial Staff, 2011). Cotton, which is the basic material of reusable cotton bags are grown in 90 countries but the four main producing countries of cottons were China, India, USA and Pakistan accounting for three quarters of the world’s output of cotton (UNCTAD). Most cotton bags however came from India and China due to the ready availability of raw materials (cotton) and cheap labor. The process begins with the harvest of the soft fiber that grew around the seeds of the cotton in a cotton plantation in India (or China). The fiber is then spun into thread to make it into a yarn. It is then weave into a cotton cloth which can be later sewn into a cotton bag. The plantation, harvest, spinning, weaving and sewing is done India (and China) due to the cheap cost of growing the cotton (land) and also the cheaper cost of labor. Unlike other products where the several stages of production are separated, producing the cotton bag can be done in one country where a single or a few number of company can do the planting the raw materials to producing the final goods because it only use one raw materials (cotton) and the process of its production is uncomplicated. The process of producing it is however labor intensive which made it a competitive product of India and China because of its lower labor cost. When the final product is already manufactured, the reusable cotton bags then undergo a process

Mini paper on manners of dealin with external environmental issues Essay

Mini paper on manners of dealin with external environmental issues - Essay Example They are distinct in their vision and mission with social objectives and goals and meet them through creatively evolved mechanisms that rely on shared vision, empowered teamwork and innovative ideas that facilitate achievement of social goals. Consequently, cross-cultural understanding has evolved as crucial factor that helps to exploit cultural competencies of diverse populace to meet new challenges effectively. Flexible approach that may encompass the changing environment helps to transform obstacles into new opportunities of growth (Ashworth, 2001). It helps non-profit organization to adopt constructive changes like technology to improve and improvise their performance and meet new challenges with high degree of success. Most importantly, conservation and preservation of environment has become the need of the hour, As such, sustainable business practice becomes one of the most important elements of external environment that needs to be incorporated within the broader goals and objectives of the non-profit organization for the wider welfare of the society. The recessive economy has also emerged as vital ingredient that impacts business decisions and promotes innovative inputs that meet the need and requirements of the

Educating the Re-Educated Essay Example for Free

Educating the Re-Educated Essay During China’s Cultural Revolution young intellectuals, who were described as men and women that graduated from high school, were sent to the countryside to be re-educated and learn about hard labor. During their re-education men and women were pushed to their limits to endure hard labor. These men and women were also prohibited to have anything reactionary because it was against their Chairman Mao. In Dai Sijie’s Balzac and the Little Chinese Seamstress, Luo and Ma, the main characters, are sent to Mountain of the Phoenix of the Sky to be â€Å"re-educated by the poor peasants,† but to their surprise they end up educating the peasants and the daughter of the local tailor, the Little Seamstress. Luo and Ma were two of the young men that were sent to the countryside and learn about labor. Although, these two young men only had a middle school education, it can be argued that their presence at Mountain Phoenix was contrary to their re-education. Instead of Ma and Luo being the students they became the educators and made a big difference in one of the characters life. Luo and Ma served not only as workers, but as educators. Although Luo and Ma only had a middle school education they were sent to re-education because their doctor parents were seen as enemies of the state. During their stay at Phoenix Mountain they befriended Four Eyes who was a young intellectual getting re-educated. Four eyes plays an important role in Luo’s and Ma’s education of the people. Four eyes possess a treasure trove of forbidden reactionary Western novels, which Luo and Ma desired and eventually stole. Ma and Luo stole the novels when Four Eyes was about to leave the mountain, they take the novels with them and fall in love. Another, person that plays an important role in Luo and Ma’s education of the people is the Headman. He sends Ma and Luo on trips to the city to watch movies. Luo and Ma are sent to watch the movies, but have to return and tell the movie to the people of the mountain. One of the most important characters is the Little Chinese Seamstress. Luo and Ma fall in love with her, but Luo stereotypes her and says she is â€Å"not civilized† enough for him. With this being said when Luo and Ma come across Four Eyes books they have the idea of educating the Little Seamstress and teaching her how to read. The books that the boys take from four eyes help them take their mind of where they are and what they are going through, but also help them improve the mentality of the Little Seamstress. The Little Seamstress has lived her whole life in the mountain and doesn’t clearly know what is outside of that area. When the boys read her the stories she imagines a completely different world than the one she is used to. The reader is able to see the impact the novels have on the Seamstress when she starts to make her clothes differently and starts d ressing differently. The Little Seamstress begins to wonder more what is outside of the mountains. She wants to know about other places and different people. When the Headman sends Luo and Ma to the city to watch a movie he does it with an intention of having them fail when they return to explain the movie to the people. To his surprise the boys come back and explain the movie better than anyone and the Headman sends them back every time so they can tell the movie. The boys go so many times that every time they come back they tell the movie better each time. They make the people feel as if they are right their watching the movie. The people become emotional and start crying at times, but that is just a sign that they are entertained by what they are hearing. The way they tell the story helps the people imagine what’s happening and feel the emotion of what’s happening to the characters. The movie telling becomes a way of entertainment for the people it’s a way of getting their minds out of their everyday tasks. The boys help the people think of new and different things every time they tell a movie. The Luo and Ma made a difference in the other people’s lives without realizing that they did anything. They changed the lives of the people listening to their movies and they changed the life of the little Seamstress. They educated the people listening ot their movies in the sense that they opened their mind to new things, to things that are outside of their surroundings. Luo and Ma may not have taught them how to read or how write but they opened their mind to new things. As the Etymology dictionary explains, to educate means to â€Å"bring forth and have a formative effect on the mind.† Luo and Ma made an effect in the people’s minds by telling them stories that they were able to visualize and feel. The biggest person they had an impact on was the Little Seamstress, they left a big effect on her that it made her want to change and become a new person. Without knowing what they did to her, they opened her mind to new things. The stories left her wanting more, in the sense that she wanted to see what’s out in the world without having to read about it. She not only wanted to read about it but wanted to experience it on her own. The knowledge they gave to her is most noticeable in the end of the novel, when she leaves. Without having the intention of making an impact on her mind they realized that they gave her more than just short stories and novels. Readers may argue that Ma and Luo did nothing other than what they were told which was to tell the movie, but Ma and Luo did more than just explain what happened in a movie. Ma and Luo acted out a lot of the scenes and tried to be as explanatory as possible. They even went a step farther and made â€Å"snow† appear in one of their scenes. Even though they acted out the scenes, people may still argue that one cannot educate others from just acting out a movie. It is true Luo and Ma didn’t teach the people any of the basic skills like reading, writing, and math, but they taught them how to visualize and how to explore a new world outside of theirs. Also, people may argue that they did not educate the Little Seamstress, that they only read her novels. Luo and Ma opened up a door to the Little Seamstress that she has never witnessed before. Reading her the novels let her imagine images from the novels that she would have never seen before or thought about. They let her imagine and wonder about new things. The Little Seamstress learned about other people, their lives, and what they think about. To her it was something new and out of the ordinary. Luo and Ma taught the people and the Little Seamstress to imagine and feel new things. They were like parents reading a story to their children before bed. In the end when the Little Seamstress leaves she takes notice that she learned something, but she doesn’t acknowledge she learned because of Ma and Luo. She says, â€Å"She had learnt one thing from Balzac,† in this moment she is acknowledging she learned something and that’s the reason she is leaving. If she had not learned anything she wouldn’t be leaving. The Little Seamstress acknowledgement of learning something goes to show that the Ma and Luo did not only go to Phoenix Mountain to get re-educated, but to educate the re-educated. Without acknowledging that their movie and storytelling would make a difference, the Little Seamstress leaving shows that they did more than just telling stories. They helped the Seamstress gain confidence in her and knowledge, enough to want to leave and explore what is outside of the mountain. As for the people they would tell the movies to they learned that there is more outside their mountain and they learned how to grow their imagination. Luo and Ma were sent to the mountain to gain new knowledge on hard labor, once they were their they did not just learn they taught. Bibliography * Harper, Douglas. Online Etymology Dictionary. N.p., Jan. 2001. Web. 4 Nov. 2010. * Sijie, Dai. Balzac and the Little Chinese Seamstress. New York: Anchor Books, 2001. Print. Outline Thesis: * Luo and Ma were sent to Mountain of the Phoenix of the Sky to be â€Å"re-educated by the poor peasants,† but ended up education the some of the peasents especially the little seamstress. Argument: * Describe what happens in the countryside like why the boys were sent their, how they got a hold of the books, how they met little seamstress and how they decided to educate her. * How the books help the boys with educating the seamstress * How the movie telling helps the boys educate the people * They made a difference without realizing they did anything Refutation: * People may argue that they didn’t do anything that all they did was follow orders of watching the movie and how does reading to a young lady educate her? Conclusion: * They educated the people without realizing they opened their eyes and imagination to a new place. It is most convincing that they did anything when the little seamstress leaves and says that what she learned is that a woman’s beauty is a treasure beyond price.

Pel Company History

Pel Company History Pak Elektron was setup in 1956 as a Public Limited Company with the object of initially producing transformers, switchgears, and electric motors. AEG experts and PEL personnel carried out the designing and production of this equipment jointly. After the conclusion of joint venture agreement with AEG Saigol Group acquired the PEL COMPANY in October 1978. The company floated its shares to the general public and was listed on Karachi Stock Exchange (KSE) and Lahore Stock Exchange (LSE). In 1980, Appliances Division was established and in 1981 its starts the production of Window Type Air Conditioners with the technical collaboration of General Corporation of Japan. This air conditioner was well received in the market for its quality. Subsequently in 1987 the production of Refrigerators and Deep Freezers was started. In 1993 the company has started the assembly of Compressors for Refrigerators and Deep Freezers under technical collaboration with Messrs. NECCHI COMPRESSORI of Italy. It was in early 70s that PEL became known in overseas markets due to its quality. The company started its export to countries like Saudi Arabia, Abu Dhabi, Qatar etc. Later on PEL supplied electrical equipments to various other countries in the Middle East, Far East and Africa with great success. 1.2 Vision To providing engineering goods and services through continuous improvement 1.3 Mission Statement To provide quality products services to the complete satisfaction of our customers and maximize returns for all stakeholders through optimal use of resources, To focus on personal development of our employees to meet future challenges, To promote good governance, corporate values and a safe working environment with a strong sense of social responsibility CHAPTER NO 2 BUSINESS OPERATIONS This chapter has been divided in five section, Section one described the product in which PEL deal. In second section business operation analysis are given. In section third SWOT analysis is given. In fourth section future strategy is given. In fifth section competitive analysis is given. 2.1 Organizational Structure 2.1 Division of PEL There are two division of PEL: Power Division Appliances Division This division is comprised for four departments. 2.1.1 Power Division The most powerful revenue generating business unit of PAK Elektron, produces Transformers, Switchgears and Energy Meters for the public sector such as KESC Karachi Electric Supply Corporation, LESCO and PESCO. They provide these three products: Production Transformers Production Switchgears Production Energy Meters During the year 2006, PEL retained its market leadership in the Power Equipment market, increasing its market share from 33% in 2005 to 36% in 2006 in the switchgear market and also maintained share of 35% in 2006 as well in the energy meters market. PELs leadership in the Power Equipment market is largely due to its strong Research and Development knowledge and high product quality. 2.1.1.1 Production Transformers PEL has vast experience in design and manufacturing of standard and special purpose transformers up to 33kV and up to 6000kVA ratings. PELs transformers have been successfully type tested for Impulse voltage and short circuit tests at KEMA, (Holland), HVSC Lab, Rawat (Pakistan), NIP (Pakistan) and UET (Pakistan). 2.1.1.2 Production Energy Meters Another successful and most powerful department of power division is its energy meter production department that manufactures Electro-mechanical Energy Meters under license from ABB-USA.The quality of PEL meters has been certified by KEMA Laboratories (Holland) and conforms to IEC 521, SGS Yarsley, and U.K, has certified PEL Energy Meter plant for ISO 9002. Following types of meters are manufactured: Electro mechanical Single phase Three phase_ Direct connected STATIC /DIGITAL Single Phase Three Phase Directed connected 2.1.1.3 Production Switchgears Switchgears are one of the highly technical and specialized power products of PEL. They are produced for indoor and outdoor installations complying with international installation standards. A major customer for this product is WAPDA. The Company provides one year after sales service warranty to WAPDA, KESC and other customers. In Switchgear, PEL enjoys market share of 33 % while competitors are Alstom, Siemens and Fico. 2.1.1.4 Power Transformers Owing to massive growth in power sector, demand for power transformers is also growing proportionately for all ratings from 66KV to500 KV. PEL has stepped into this activity by starting the manufacturing of 132 KV transformers, being the most demanded rating, and for these purposes has formed a strategies partnership by signing the two agreements. Based on the demand forecast of Power Transformers for WAPDA, KESC and other projects, PELs market share is initially targeted to be 20%, growing in five years. 2.1.2 Appliances Division The Appliances Division of PEL is the pioneer manufacturer of electrical goods in Pakistan. The Divisions product portfolio comprises of air-conditioners, refrigerators, televisions, microwave ovens, and split air-conditions. PEL is one of the three leading players in the home appliances market. The Company is engaged in the manufacturing and/or marketing of the following home appliances. The Companys Appliances Division contributed significantly to its sales in 2005-06. The main reasons for this growth are increase in market sizes along with PELs strong brand image accompanied with its extensive dealership network spread nationwide with over one thousand outlets and an after sales service network with over 100 workshops. Another major reason for the increasing growth in the home appliances market is the easy availability of consumer financing at lower interest rates. PEL itself is involved in selling its products through a marketing wing for sales against consumer financing. Availability of Chinese products at very competitive prices has not proven to be that big a threat to the local industry. This is because of the improved quality of the local products and cost efficiencies due to economies in product and raw material purchases hence making the local products competitive with the Chinese imports. In 2005-06, the Appliances Division contributed around 53%to the Companys sales whereas the Power Division made up the remaining 47%. Refrigerators and Split air conditioners were the main source of revenue in the Appliances Division, whereas transformers and energy meters are the main revenue drivers in the Power Division. The Appliance Division accounted for 44% of Net Sales during the year ended June 30th 2007. Refrigerators and Split air conditioners were the main source of revenue in the Appliances. The Company is engaged in the manufacturing and/or marketing of the following home appliances. Manufacturing Trading Refrigerators Microwave Ovens Air Conditioners (Split) Conditioners (Window) Deep Freezer Floor Standing ACs Generators Washing Machines 2.2 Business Process Analysis (Industrial Analysis) 2.2.1 Transformers PEL has vast experience in design and manufacturing of standard and special purpose transformers. New technical designs for improved efficiency and quality against special orders of non-standard transformers are continuously being explored. These transformers are available for various applications. Distribution Transformers Auto Transformers Furnace Transformers Welding Transformers Transformers are normally supplied in a period of 3 4 months after the receipt of orders from respective distribution companies of WAPDA and varied supply time for private customers. The Company provides one year after sales service warranty to WAPDA, KESC and private sector customers. 2.2.2 Energy Meters PEL manufactures three types of energy meters; Single Phase and Poly Phase. The electro-mechanical energy meters are manufactured under license from ABB of USA. The quality of PEL meters has been certified by KEMA Laboratories of Holland. PEL meters are superior than others due to their ability to lower revenue losses through accurate precise operation and reduction of maintenance expenses. Single Phase energy meters provide maintenance-free operations over a long period and accurate measurement of electrical energy. Poly Phase energy meters improve load performance and precision accuracy. The meters require minimum maintenance and can withstand abuse from surges and magnetic tampering. Three phase digital electronic meter with dual tariff capability recently launched and supplies to WAPDA has begun this year. Energy meter orders from WAPDA are received annually and their supply period is 9 -10 months. Energy meters to KESC are supplied in a period of 3 4 months. The Company provides one year after sales service warranty to WAPDA, KESC and Others. 2.2.3 Switchgears Switchgears are one of the highly technical and specialized power products of PEL. They are produced for indoor and outdoor installations complying with international installation standards. A major customer for this product is WAPDA. The Company provides one year after sales service warranty to WAPDA, KESC and other customers. 2.2.4 Refrigerators PEL Refrigerators were introduced in 1987 with features such as VCM (Vinyl Coated Metal) coating; stylish finishing and auto drain systems. PEL refrigerators carry compressor made by Danfoss of Germany. The low noise compressor is extremely silent and keeps the refrigerator running smoothly. Furthermore, the compressor is resilient to fluctuations in voltage level, thereby proving to be a more durable product. PEL is actively involved in the manufacturing and trading of refrigerators, which is a major source of consistent growth. The refrigerators business contributes to 48% of the Companys sales and this trend is expected continue in years to come (which is reflected in the figures for 2005-06 in the table below). 2.3 SWOT Analysis 2.3.1 Strengths PEL has the following strengths and is in more competitive position in these areas than its competitors. Following are the main strong points of PEL. 2.3.1.1 Strong Brand Image PEL has created the strong brand image in the mind of the customers through higher quality and low price. The customers of the PEL always prefer to buy the PEL home appliances like WRAC split AC and refrigerators whenever they wanted to buy. 2.3.1.2 Strong Dealer Network It is also the plus point for the PEL that it has also developed the strong dealer network in the market. The dealers are always trying to sell the PEL appliance to the customers because they know there are high margin in the PEL products. They can get more money after selling the PEL products. The management of PEL also provides more incentives to their dealers than their competitors 2.3.1. 3 Free Customer Service PEL provides free customer service for one year to its customers. So the customers always buy the PEL products due to its free service and it becomes loyal customer for the PEL. PEL always provides help to their customers for repWRAC, Refrigerators and other items. PEL always make efforts to satisfy the customers. 2.3.1. 4 M Arket Leader In WRAC (Window Room Air Conditioner) It is another strong point that PEL is a market leader in WRAC. The window room air conditioner is more demanded by the customers than its competitors air conditioners because it has more durability in operating systems and cools the room in few minutes. PEL always strives to provide the innovative features in WRAC. PEL air conditioner is cheaper and has a higher quality than others WRAC. Thats why customers always purchase the PEL window air conditioner. 2.3.1.5 Leader In Power Division In Pakistan the PEL is almost leader in power division. Almost all power division are provided by PEL to wapda. 2.3.2 Weaknesses Overcome on these weaknesses then it can become a market leader in the home appliance. Like other companies PEL has some weaknesses in operating the business. If PEL loses some competitive edge in the following points: 2.3.2.1 Lack Of Advertisement PEL was a very lack of advertisement according to other appliances companies. So it is a big weakness of PEL. 2.3.2.2 Lack Of Product Range PEL has introduced more products of consumer items but there are more needs to develop new consumer items like PEL washing Machines, Vacuum cleaner and other items. Due to lack of product Range, Company cannot earn more profit because consumers have high demand of these products and they say that if company is investing in these products then we can keep all PEL items and we never need to keep others company products. 2.3.2.3 Financial Problems Sometimes PEL faces the financial problems because its stocks are so much piled up in the stores that create the problem of cash flow because when the stocks are not sold and the production is in process for 24 hours a day than the company faces such problems. 2.3.3 Opportunities For the PEL there are more opportunities for expansion the business. If PEL realize that opportunities then it will be more fruitful and profitable for the company. 2.3.3.1 Exploration of Market In Pakistan PEL has the opportunity to explore the market in all over the Pakistan. Even though PEL introduce its products in all cities of Pakistan but there are so many places that have the capacity to absorb the PELs products. 2.3.3.2 Increase in Product Range It is the main opportunity for the PEL that it can increase its product range that will be a more profitable for the company. There are more needs to develop new consumer items like PEL washing Machines, Vacuum cleaner and other items. Due to lack of product Range, Company cannot earn more profit because consumers have high demand of these products. 2.3.3.3 Export Opportunity PEL Company has also the opportunity to export their products in other international countries like UAE, SAUDI ARABIA, and other Arabic and African countries. 2.3.4 Threats PEL Company in such a competitive era has many threats as well. These threats are for the present situations and future. Company should make its policies and strategies according to these threats. So following are the main threats for the PEL: 2.3.4.1 Strong Competition There is very strong competition for the home appliance in the market. So every company tries to come in the number 1 position for achieving the maximum shares in the market. 2.3.4.2 Chinas Product Chinas products are another threat for the Pakistani companies because these products are cheaper than the Pakistani products. An even china product not well in quality but it is comparatively in low prices than the consumers home appliance that are manufactured by the indigenous company. 2.3.4.3 Price War As there is stiff competition in the home appliance market that will cause the price war. So every company reduces the prices of its products to increase the sales. It will not only reduce the profit margin of the company but also reduce the quality of products. So price war is the main threats for all the companies, which are operating in these products. 2.3.4.4 Instability Of Government The rapid changes in governments will become threats for the companies because every government adopts its own policies for the industries. So it increases the uncertainty for the investors who want to invest heavy amount in their new projects. 2.4 Future Strategy PEL is one of the most widely recognized brands in the domestic refrigerator market. It is the second largest local manufacturer and one of the leading brands. For the past four years the Companys market share growth averaged 2% per annum. With continuous efforts in RD, PEL is concentrating on quality of product and cost minimization. The Company is considering technical collaboration for value addition through planned capital expenditures. Increased sales of manufactured refrigerators coupled with sales of split air conditioners are the major factors contributing growth in the appliances business. Other products are also being introduced as a part of Companys strategy to broaden its product range. 2.5 Competitive Analysis The prices are concerned PEL is charging reasonable prices to its customer for all of its microwaves comparatively from others. Prices charged by National, which is a multinational firm, are very higher in comparison with others because it uses special Japanese parts in its microwaves and ensures high quality and performance and only rich class shows interest in National Products. According to the retailers information, people are satisfied with the prices charged by PAK Elektron but still their preferences go along with Dawlence microwaves because of its highly created awareness. CHAPTER NO 3 LEARNING AS STUDENT This chapter has been divided into four sections In section one, I have discussed my duties as a internee during internship, In the second section, I mentioned accomplishments, In the third section I briefed my problems which I faced during internship and in the last and fourth section I offered that how this internship experience impact on my carrier. 3.1 Learning and Duties In finance department there are three sections. Corporate section Leasing and pledge Budgeting 3.1.1 Corporate Section In corporate finance I worked in different units. Firstly, I learned that how letter of credit works in PEL. 3.1.1.1 L.C Section I started working for the Letter of Credit Section. They gave me an introduction and shared important points. Mr. Asad, Senior Executive supervised me in this section. Letter of Credit: A document issued mostly by a financial institution, used primarily in trade finance, which usually provides an permanent payment undertaking. The letter of credit can also be source of payment for a transaction, meaning that redeem the letter of credit will pay an exporter. Letters of credit are used primarily in international trade transactions of significant value, for deals between a supplier in one country and a customer in another. In such cases the International Chamber of Commerce Uniform Customs and Practice for Documentary Credits applies.The parties to a letter of credit are usually a beneficiary who is to receive the money, the issuing bank of whom the applicant is a client, and the advising bank of whom the beneficiary is a client. There are different types of LC: a) L.C at Sight: In L.C at sight, Our Company opens an L.C in a bank which provides a guarantee to the exporter that he will pay the due amount. Now, the exporter takes these documents to his bank and asks the bank to give him money so that he can start working on the required contract. When he fulfills the contract, he goes to his bank and provides the required documents to prove that he has fulfilled the contract. Now his bank sends these documents to our bank and our bank ask us to confirm the clarity of the documents and if cleared then these documents are called cleared documents. Then lastly we will pay the bank the due amount. b) Usance L.C: In usance L.C the contract between the two parties require the importer to pay in a longer term e.g. 3 or 6 months after receiving the material from exporter. Our bank will pay the contract amount after the agreed period. c) INLAND LCIn land LC means LC open in a same country. 3.1.1.2 Guarantees I started working on the Guarantees, Leasing, Finance against Merchandise and Cash Financing Section. They just gave me an introduction and shared important points. Mr. Tahir Mahmood, Senior Executive supervised me in this section. Guarantees Section: Secret behind PELs success and increasing market share is its guarantees section that actively works to get every order either for appliances or for power of the company by speedily participating for the contract with the help of Tender Bonds of Guarantees. Types of Guarantees Tender guarantee ( Bid guarantee ) Balance of payment guarantee Advance payment guarantee Performance bond guarantee 3.1.1.3 Long Term Loans PEL acquired a long-term loan to finance the import of machinery. Recently PEL has purchased some machinery from China for Digital Energy Meters. The process for long-term loan is explained in following. Preparation OF Feasibility Report: Following points are considered while preparing the feasibility report. Financial Statement Cost of the project. This includes operating assets (land, building, Vehicles, furniture, capital expenditure and means of finance) Project profit and loss account Projected statement of changes in financial position. Financial Analysis Pay back period of total investment Ratio analysis Breakeven analysis Schedules Sales forecast statement Total production cost. Working capital Loan repayment schedule Bank Feasibility Report Bank studies the feasibility report and prepare report and prepare its own feasibility report to see where it would be feasible to sanctioned loan to company or not. Offering the Letter: The bank, if it is satisfied with the feasibility report then send offering letter. It has, Amount sanctioned Mark up rate Charge over fixed assets Tenor Installment periodS Interest payment period Acceptance If company accepts the terms, it must respond with this period. Negotiation: Negotiation between bank and company takes place to change certain conditions of offer letter and it acceptable for both parties. A second draft of the offer letter is prepared with changes and signs of bank and CEO OF PAK ELEKTRON LIMITED. Creation of Charges: A charge is created in favor of the bank to secure its loan with following documents affidavit. It is an undertaking by the company that will follow all conditions. Form 10. It contains the particulars of assets against which charge is created. All the above documents are submitted with registrar against whom a Certificate of Registration of Mortgage is issued. Types of charges Exclusive Ranking Pari passu Loan Repayment Schedule: This schedule is prepared to show the mark up principal and total installment value for whole tenure. 3.1.1.4 PRE-Shipment Pre-shipment is the last section of the finance department. The pre-shipment report may be summarized in the following 5 tasks which are as follows: Tender Bidding Acceptance Purchase order Inspection 3.1.2 Leasing Section This section works in order to fulfill the corporate production, personnel and operational needs such as Machineries, Auto Mobiles and office equipments. It enters into the Buying Contracts always with the one who offers best terms and conditions as well as the best Internal Rate of Return to the Company. 3.1.2.1 Direct Leasing In case of auto mobiles, a bank makes the pay order and gives it to the dealer on the behalf of firm. Firm pay the principle plus interest in installment to bank. PEL can do leasing with AL-Baraka bank. They paid approximately 15%interes on them. 3.1.2.2 Indirect or Machinery Leasing Machinery is imported from china and other countries e.g. USA etc. incase of imported machinery PEL has an LC opened by particular bank. The LC issuing bank deals with the exporters bank and makes payment to it. In machinery dealing the import department of the company is involved. Import department informs finance that they do not have enough funds to make a lump sum payment of machinery, and then leasing facility is used. A third bank called the leasing bank (from whom PEL takes leasing facility) makes payment to issuing bank and acquires papers of the machinery. PEL then makes regular lease payments to the leasing bank and finally acquires the papers of the machinery. Leasing bank also sends external auditors to PEL to verify whether the machinery is actually of the value quoted, whether it is in proper condition, durability of the machinery etc. 3.1.2 Working Capital Finance This type of loan is secured against: Pledge Hypothecation 3.1.2.1 Pledge It may be constructive or actual. Constructive pledge is that in which goods are not taken by bank rather keep them in companys good own under its own security. In case of actual pledge, bank holds the possession of goods. Logistics: The logistics department comprises a part of the finance department. It is headed by Mr. M. Hanif and further consists of a senior accounts officer, two junior executives and two accountants. The basic task carried out by the persons working in the logistics section is: daily check on production daily check on stock (materials and finished goods) controlling the production plan for the future control on orders in hand Materials imported by PEL basically remains in bank custody. The bank makes payments for these materials to the foreign suppliers and releases them to PEL as per payments by them. The bank further higher mucaddam companies/clearing agents to watch over and monitor these materials. The materials are generally store in PEL premises. Material requirement for appliances and power good manufacturing are different hence their requisition are also different. PEL uses cash financing and various other credit facility provided by the bank. Raw materials are imported using the different financing facilities. Materials are then use to make finished goods. The materials when enter the production cycle a term as work-in-process (WIP). WIP is hypothecated and loans taken against it. Then a portion of finished goods produced are further pledged and payments for raw materials are made through it. The whole procedure must be carried out in a timely way with correct information reaching at the right time from factory to material section, so that materials may be requested and obtained at the right time without delay. 3.1.2.2 Hypothecation Of Stock In this the finance is given on work in process goods. 3.1.3 Budgeting Section Getting started from the first day after formal introduction of staff, MR. Masood Tahir, Manager Finance PEL assigned task to Mr. Amer Khawaja (Manager Budgeting) and Sheikh Zaigham Ali (Finance Executive) Finance Budgeting section of my supervision. Forecasting for next year He told me management prepared Sales plan Production plan Material purchase plan Direct labor F.O.H ( factory overhead) Selling expense /administrative expense Other income Financial cost Mr. Zaigham told me PEL has two Divisions 1st Power Division, which deals in the manufacturing of Distribution Transformers Power Transformer Power Project Electric meters Switch gears 2nd Appliances Division includes production of Refrigerators, Deep freezer, Micro-wave Ovens, Splits AC. Trading items (Imported goods) water dispensor, washing machine, window AC, T .V, Generator. Sales Plan Sales plan made by marketing department for appliance and power division. Forecasting Base on last five year sales which is approved by marketing G.M. Types of Sales Export sales ( Afghanistan , India) C.M.D ( Consumer marketing department e.g Govt employees ) Corporate sales ( Institutional e.g hospitals , colleges etc ) Private sales ( for bankers , G.M reference 50% discount ) Metro / Makro sales Production Plan Production plan made model wise for refrigerator, split AC, microwave oven and deep freezer. Material Purchase Plan For material purchase PEL open L/C. Direct Labour: Decide labor quantity required. Labor rate decided. Other Income Scrap sales B pair goods Financial Cost mark -up on borrowing demrage cost ( pay extra amount after exceeding the shipment days ) The beginning of every year with the help of forecasts and then latterly throughout the year they compare it with the actual transactions of these two divisions. I did Afterwards, he showed me the budgets of both divisions which are prepared at some price and cost calculations of Transformers for him and I also did different ratio analysis based on last year results. Then, I was assigned to compare the production budget of refrigerator section of the production department with the actual results yet achieved which I performed and show to him the variances till date. 3.2 Problems Encountered There was no such problem but at same time it was very confusing because they mostly prefer to tell orally rather to practical work that make us ambiguous in some manner when we want to learn more and more. 3.3 Accomplishment we were keen to know about different section of finance department specially in LC opening (letter of credit) how to get loan from banks and why made pledges. We frequently analyses the Lc. 3.4 How Experience Impact On My Career During my internship I learned lot of knowledge that is helpful in my future planning and future career. I learned how to interact with senior management and get their experience that is helpful in my career. Due to my internship habit of regularity and punctuality. 3.5 Knowledge Acquired I had chance of acquiring a lot of new knowledge because it was my first professional experience of working real world of financial brainstorming. It was great experience that how plans and decisions are made executed. It elaborate that how risk involve in each step of decision making and how efficiently management cope up themselves with their competenciese. Conclusion In the nutshell, I want to bring some new idea that PEL should initiate some social benefit programs and try build their Goodwill by participating in the society. I found that the people while purchasing for a certain item take great i

The Millennium Development Goals

The Millennium Development Goals The Millennium Development Goals (MDGs) were agreed upon at the Millennium Summit in September 2000. More heads of states (189 nations) and governments came together than ever before, a benchmark in itself. They pledged to work together to make a better world for all by 2015. Unanimously signing adopting a package, aimed at eradicating social injustices inequalities; extreme poverty, getting all kids to school, including girls; gender equality, fighting maternal mortality and child mortality, reversing the AIDS pandemic ensuring sustainable development in an environmental sense. These committing nations agreed upon a new global partnership to ensure these goals were met and set out a series of time bound targets, with a deadline to be met by 2015. The MDGs are the most ambitious and most broadly supported development goals ever to be established. The Millennium Development Goals are a set of eight goals, which pledge to liberate men, women and children from the dehumanising conditions of extreme poverty and make the right to development a reality for everyone. Listed below are the eight goals: Goal 1: Eradicate extreme poverty and hunger Goal 2: Achieve universal primary education Goal 3: Promote gender equality and empower women Goal 4: Reduce child mortality Goal 5: Improve maternal health Goal 6: Combat HIV/AIDS, malaria and other diseases Goal 7: Ensure environmental sustainability Goal 8: Develop a Global Partnership for Development The eight MDGs break down into 21 quantifiable targets that are measured by 60 indicators. The MDGs are more than just goals, they are seen to provide an overarching framework for the development efforts, and benchmarks against which to judge success (Health and the millennium development goals By World Health Organization). They set out a clear precise agenda as to what is required to help realise the goals. Each goal has been designed so that it is easy to understand, easy to implement and easy to measure in order to help improve the lives of the impoverished people of the world. The fact that MDGs are concrete, time bound and deliberately designed to be measurable (which lends to a sense of accountability) makes the MDGs feel more tangible people everywhere can immediately relate to them; they speak to the immediate concerns and basic needs of everyone globally. Measurability is seen as an integral characteristic of the MDGs, it is through this that the United Nations is able to assess how close it is to achieving one of the most ambitious agreement accords in its history. Furthermore, this also leads to governments being held accountable for any irregularities that may arise or for failure to implement successfully the eight MDGs within their nation states. The MDGs reflect an unprecedented commitment by the worlds leaders to tackle the most basic forms of injustice and inequality in our world; poverty, illiteracy and ill health. (Health and the millennium development goals By World Health Organization). The importance of the MDGs cannot be overstated. Firstly, as set out in the Millennium Summit the aim of the MDGs is to liberate the billion plus people who currently live in extreme poverty. A common proverb the world over is the rich get richer whilst the poor get poorer. However, with the MDGs it seems that the stigmatisation on the richer nations is slowly being rendered obsolete. Secondly, reducing the number of people in poverty matters for security and stability. Research shows, for example, that a negative shock on income growth increases the probability of a civil war substantially (United Nations Millennium Development Project 2005) (Financial sector development and the Millennium Development Goals By Stijn Claessens, Erik Feijen). A prime example is that of the ever worsening situation in Sudans Darfur region, where the scarcity of sanitised water has seen some of the worst humanitarian crisis of the 21st Century, with more than 200,000 Darfuris dead and 2 million having f led their homes. Thirdly, economic wealth for the poor creates new worldwide growth opportunities, by opening new consumer markets and commercial activity; the 4 to 5 billion underserved people are estimated to represent economic opportunity of $13 trillion (Financial sector development and the Millennium Development Goals By Claessens. S, Feijen. E). Arguably the biggest stumbling block for poorer nations being unable to attain the seventh MDG of ensuring environmental sustainability, is entirely down to the developed nations insistency on tariffs, quotas subsidies. All of which have made it extremely difficult for developing nations to earn a living on their produce. The message the MDGs are trying embed in our minds is, that the issues being faced around the world are not the sole responsibility of the heads of states of the developing nations or developed nations, but it is a collective responsibility that the people of this world must share and be held accountable for. The biggest problem is that heads of state and ministers often go to meetings, sign something incredible, and then they take the plane back from the UN to return to business as usual. It takes all of us to achieve these goals, this is excruciatingly important because we have to make our governments accountable for the promises they have made. Government after government and country after country after country. The UN is able to provide a platform but it does not have any instrument to force compliance. So it falls upon us, in civil societies who are the most important campaigners. We put the politicians and leaders in power to give us a voice and so we must in turn use our voice s to make the governments enforce the MDGs and implement a plan for achieving them by the target date of 2015. Successful implementation of the MDGs with the right guidance can lead to some concrete results. If we take a look at some midway progression figures; taken from the European Commission on Development File, then we can clearly see the impact the MDGs have made in the lives of millions of people. Some Impressive Progress 120 million people out of poverty between 2000 and 2005, or 2.4 per cent annual drop 2 million lives saved through reduced child mortality 30 million additional 6 12 children going to school 30 million additional families having access to drinking water Boys and girls in equal numbers in primary school However, the progress being made is vastly uneven and still too slow in some areas of the world. The reason for the decrease in global poverty is for the most part due to rapid growth in giant Asian countries such as China, India Indonesia. Yet on the other hand, achieving goals such as reducing child mortality rates and access to sanitised water seem way further off track. Furthermore, there seems to be strong inconsistencies across regions and countries in implementing the MDGs, with countless developing countries projected not to meet most of them. While ambitious the MDGs are considered achievable. The Millennium Project has argued that for the first time in history the world is rich enough to eradicate extreme poverty. The Millennium Project calculated that achieving the MDGs requires funds equal to 0.5 percent of Gross National Product (GNP) of developed countries (Financial sector development and the Millennium Development Goals By Stijn Claessens, Erik Feijen). This highlights an important fact, that if implemented and rigorously followed through, the developed countries have enough resources to help eradicate extreme poverty. The rich countries have never been richer. But the efforts that they are doing in terms of giving aid to poor countries is, in terms of percentages of national wealth, less than it was ten, twenty or thirty years ago. It is not just financial assistance that needs to be rectified; too many poor countries in Africa are paying far more back to the rich countries for old debts, than they can afford to pay for the primary health and education of their people. Debt relief must be provided to ensure that developing countries are not forgoing the money for development to help them make their repayments. Furthermore, the trade barriers make it impossible for farmers in developing countries to make a living. In Europe farmers are subsidised to the extent that they produce more than they can ever swallow and then they dump the excess on the markets in poor African countries. In the US the problem is all too similar, where cotton subsidies have led to the collapse of world prices for cotton. West African countries that produce cotton are unable to sell their stuff produce anymore. If and when these trade issues are rectified, then only can the developing countries seriously think of progressing their develop ment through the MDGs. Conclusion The MDGs came about through the mutual agreement of the worlds leaders from developed nations to developing nations, each having their own role to play in aiming to help improve the lives of billions of impoverished people. They agreed upon eight goals, covering poverty, hunger, health, child mortality, womens rights, the environment and a global partnership on development. It is the primary responsibility of the poorer countries to achieve the first seven goals. They must do more to integrate the MDGs into their policies, plans and budgets and translate them into services for the poor. There is a need for more transparency and accountability so the progress being made, or lack of, is clear for all to see so allows for the people to hold their governments accountable for the promises they made. The MDGs are mutually binding, so the poor countries cannot achieve their first seven goals unless rich countries fulfil their responsibilities set out in goal eight; Develop a Global Partner ship for Development. The developed countries need to give more and to make sure what they are giving is used more effectively. They also need to offer more debt relief and increase trade opportunities for poor countries by reducing tariffs and subsidies to agriculture which deny farmers from poor countries their best chance of earning a decent living. The importance of the Millennium Development Goals, is to implement a clear framework from which the world is able to reduce the social injustices and inequalities. It is to get the minds and mouths of the ordinary person working so they continue to strive to achieve the goals, way beyond the expectations of politicians. Their attainment, which is possible, lies in the hands of every single individual.

Staging in Six Characters in Search of an Author :: essays papers

Staging in "Six Characters in Search of an Author" Pirandello's masterpiece, "Six Characters in Search of an Author" is well known for its innovative techniques of characterization, especially in the fullness of character as exhibited by the Stepdaughter and the Father, but it is especially renowned, and rightfully so, for the brilliant staging techniques employed by its author. Pirandello uses his innovative staging techniques specifically to symbolize, within the confines of the theater, the blending of the theater and real life. Chief among these, of course, is the way in which the author involves the audience in his production, to the point which, like a medieval audience, they become part of the action, and indeed, a character in its own right. The use of lines provided in the playbill was the first of its kind; never before had an author dared to ask the members of the audience to perform, even though unpaid, and indeed, paying for the experience themselves. But without those lines, how much less impressive would that moment be when the Director, understandably at the end of his rope with the greedy characters (who have been from the start trying to coerce him into writing a script for non-union wages), shouts "Reality! Fantasy! Who needs this! What does this mean?" and the audience, in unison, shouts back, "It's us! We're here!" The moment immediately after that, when the whole cast laughs directly at the audience, pointing at them in glee, is nearly unbearable for an audience, as shown b! y the riot after the first performance, when the audience not only ripped the seats out of the theater, but stole the popcorn. Pirandello also used a technique he inherited from the "Cirque de Soleil," involving a trapeze hung from the catwalk. But though the trapeze was not in itself his own invention, its use during the intermission as a means to annoy the audience was absolutely innovative. He had gotten the idea from watching the inhabitants at the mental institution in Switzerland where his wife was recuperating from a Venetian holiday. The Swiss hospital, renowned for its experimentation, had started a program of gymnastics, meant to boost the patients' self-esteem. The Stepdaughter's foray above the audience's heads, during the "intermission," is a direct reflection of that Swiss technique; no one before Pirandello had dared to use it in the theater before, but it not only symbolized neatly the problems with defining reality inherent in the text, but kept the audience from actually getting a rest during the intermission, since

Comparing Virtue and Vice in Garrick’s Romeo and Juliet and Bowdler’s R

Virtue versus vice is of great concern in the 18th century, an issue that causes a major shift in the presentation of plays on the stage. Stage writers adapted well-known plays to meet the criteria and expectations of the time. Contributing to the overall acceptance of virtue on stage is the enforcement of decency and cleanliness by both the ruling class and the audience. A famous actor of the time, David Garrick, not only abided by these rules but also worked them to his advantage. Garrick packed theater houses with his talent and versatility as an actor, while at the same time promoting an acceptance of cleaner versions of plays. Many of these adapted plays were by Shakespeare, though Garrick himself wrote plays that were as universally accepted. Audiences today may criticize the inadequacy of these adaptations, but during the 18th century audiences expected and loved them. What were these changes exactly and where did they originate? Garrick himself does not begin this movement towards virtue, but simply accepts the changes present. In 1698, Jeremy Collier wrote A Short View of the Immortality and Profaneness of the English Stage. This piece strongly attacks the current conditions of the theater and the various "immoral" works by certain authors currently published. The Longman Anthology of British Literature writes, "by portraying wickedness in ways that give delight, [Jeremy Collier] argued contemporary plays cultivated in their audiences the vices of their characters" (2270 Longman Anthology of British Literature). These authors include such notable minds as John Dryden, William Congreve and William Wycherley. Collier especially criticizes the profane use of language and the abuse of clergy all of which, he felt, manage... ...sctn=1 Garrick, David. The Dramatic Works of David Garrick, Esq. Vo. 1 London, 1798. Greenbalt, ed. The Norton Shakespeare Based on theOxford Edition. New York: London, 1997. Frye, Northrop. "Essay date 1986." Mark W. Scott, ed. pgs 575-579. Hume, Robert D. "Before the Bard: Shakespeare in Early Eighteenth-Century London." ELH 64.1 (1997): 41-75. November 14, 2000. <http://muse.jhu.edu/journals/elh/v064/64.1hume.html>. Jameson, Anna Brownell. "Essay date 1833." Mark W. Scott, ed. pgs 423-425. Knight, Joseph. "David Garrick" Literature Criticism from 1400 to 1800. Vol. 15. November 7, 2000. http://galenet.com/serv/LitRC/hitsc=1&b=17171779&savedsrch=&NR=Garrick&OP=contains&DT=Author+RE. Scott, Mark W. ed. Shakespeare Criticism. Kansas City: Gale Research Company, 1987. Ulrici, Hermann. "Essay date 1847." Mark W. Scott, ed. pgs 427-428.

Restaurant Business Plan

Confidentiality Agreement The undersigned reader acknowledges that the information provided in this business plan is confidential; therefore, the reader agrees not to disclose it without the express written permission of . It is acknowledged by the reader that information to be furnished in this business plan is in all respects confidential in nature, other than information that is in the public domain through other means, and that any disclosure or use of this confidential information by the reader may cause serious harm or damage to .Upon request, this document is to be immediately returned to >. Signature: Name: Amanda Walsh David Cagney Date This is a business plan. It does not imply offering of securities. (1) Executive Summary The Grab: Do you want to expand your horizons when it comes to good quality Italian cuisine? The Taster offers you the opportunity to sample food before ordering off the menu free of charge. They recognized that people stick to their comfort zone when it comes to ordering food in restaurants and wanted to change this by letting the customers excite their taste buds.The Problem: A problem the restaurant is preparing to face is to distinguish between serious customers who have an interest in trying new cuisines and customers who come into the restaurant and take advantage of the service in a negative way and don’t appreciate the offer that is provided. This problem could have serious repercussions and affect the profit of the business significantly and therefore must be controlled. The Solution: The solve this issue the staff have to monitor the customers closely, allowing customers limited samples of the food to ensure they don’t fill up on free samples and leave.The chef’s responsibility is to ensure each customer only receives a bite size amount of the food, over indulging the customers will eat into the profits and defeat the purpose of the service provided. The Opportunity: It can be rather challenging to tar get different market segments simultaneously but at The Taster restaurant we are planning on catering to a wide customer base. We segmented the market according to Geographic, Demographic and Psychographic.Our market size is relatively small in comparison to world wide international restaurant chains for example the Hard Rock cafà © however we do have the potential to grow in the market and expand our business in Ireland and possibly the United Kingdom. Your Competitive Advantage: Currently there are six other restaurants in the area and it puts the Taster in direct competition with Casa Pasta & Pizza. The menus that the two restaurants offer are very similar as they are both Italian cuisines however the taster has an advantage over them as they have a potential unique selling point of sampling the food as mentioned above.The Model: The Taster aim to generate revenue from their target market by creating a ground-breaking, unique restaurant with a relaxed sophisticated atmosphere th at will clearly differentiate the restaurant from others. The main goal is to use nothing but high quality fresh Italian ingredients and to approach each customer with the highest standard of service imaginable all of the time with none expectations what so ever. This makes the restaurant scalable as it has the potential to generate growth in the revenues considerably faster than its cost base.The Team: The team at The Taster have the ability to achieve all the goals and succeed in the business and it grows and becomes more successful. When hiring staff for the restaurant only qualified, trained and experienced people will be made part of the team. Highly motivated and enthusiastic people will be favoured. Additional training will be provided as the restaurant wants the highest level of customer service and for customers needs to be dealt with before the customer even anticipates them to allow them to have an incredible dining experience.Financials: Our financial projections for the first five years are as follows. The key driver to succeed is that the company needs to successfully operate through the first year in order to provide adequate cash flow to be self-sufficient in year two. The Ask: The initial financing available to the company in addition to the capital contributions from the owners, will allow The Taster to successfully open and maintain operations for the initial five years of business and offer the customers in the Donnybrook area a unique dining experience.Start-up costs and initial financing are as follows. Jane Ericson will be investing $20,000 of savings and guaranteeing a loan for another $30,000 with personal assets. In addition, the business will receive an interest-free loan from a family member of $10,000, to be repaid within the first year. (figures to be changed) (2) Team and company The Taster was founded in 2011 by Amanda Walsh and David Cagney who are the two joint investors in the project. They created Italian restaurant that off ers customers fresh homemade Italian food at a reasonable price.There is also the opportunity for the customer to taste a bite sized amount of the food if they are unsure before ordering. They will offer a few different types of menus depending on the day of the week and time of day including lunch and early bird menus during the week and set menus and lunch menus at the weekend. The Taster will be open seven days a week, serving lunch and early bird menus Monday till Thursday and set menus and al la carte menus Friday till Sunday. What relevant experience has the team got? David Cagney has been working as a bar man for the past two years in the Aviva Stadium.He has recently graduated from the Aviva Academy which was a significant achievement as he was picked from a group of one hundred applicants out of two hundred. David has also worked as a part-time waiter in Foleys Bar, near Stephens Green and in Graingers along the Malahide road. Amanda has over two years’ experience as a chef and a waitress for the Bad Ass Cafà © in Temple Bar. As we have both have experience in the hospitality industry, their skills complement each other which makes it easier to occasionally share ideas and views on how to take their business proposition to the next level.What are the gaps in the team? Both members of the team are very weak when it comes to the financial aspects of setting up a business. They contracted professional accounts to help with this aspect of the business as it is a very important. The businesses needed someone to draw up a cash flow, profit and loss account and a balance sheet for their financial projections. Has the team worked successfully in the past? The team have not worked with each other in the past, except for the development of their feasibility study.Despite the fact that they have never worked with each other they are making significant progress and working alongside each other throughout the project. Are they well known in the industry? T he team are currently not well known in the industry as they have never worked with each other in order to make a name for themselves. They are confident that their ideas will satisfy customers’ expectations and will make their dining experience a pleasant one, one which they will want to go back and tell all their friends and family about. Who has the experience with solving this customer problem?The team will only gain this experience by actually going out and setting up the business, with the skills they have picked whilst working in the hospitality sector. Who has experience selling competitive offerings to this market? Both Amanda and David have limited experience on how to sell competitive offerings, although they have some knowledge in relation pricing strategies from their marketing studies.They believe that how they’ll price their menus as opposed to other Italian restaurants in the market i. e. , Casa Pasta and Pizza, will be vital in the early stages of thei r launch. 3) Product and market The opportunity problem: Value proposition: The Taster restaurant satisfies the customers’ needs of eating out and gives them the knowledge they need behind them when ordering food. Waiters can be very vague when describing the taste of the dishes that customers are curious about and a lot of times have never tasted the foods themselves. The Tasters gives the diners an opportunity to try the foods so they can have their own opinion and peace of mind when a ordering a new dish or something a bit different, so they know exactly what they are getting.This business goal could generate potential customers in the long run through word of mouth and effective advertising as it has many benefits to the customer. It allows customers to try new foods and avoids them been left with a full meal they won’t enjoy which saves them money on wasted food. The customer: The Taster has created a market for several different categories of customers. The indiv idual people that go for lunch or dinner by themselves usually during or after office hours. Families and friends who dine together for lunch or dinner usually on a Sunday, they intend to make Sundays a very family orientated day.Couples usually go out on a Friday or Saturday night for a romantic meal. To encourage as many couples as possible they plan on having a set menu for two people including a bottle of wine. And finally People on a budget, they took into consideration the recession and that a lot of people are on a budget now so they created an early bird menu from Monday to Thursday to cater for these people on a low budget and hopefully fill the restaurant during the week on nights that it wouldn’t necessarily be busy .The Market: The Taster is faced with the exciting opportunity of being the first restaurant to be able to sample the food before ordering. This concept puts them in a great place in the market and gives them the potential to become a huge success. Ther e isn’t a huge market as we can only reach a percentage of the country but there is huge potential for the market to grow at a steady pace as the restaurants expand, every five years if all goes to plan. There is no shortage of restaurants in the Dublin four area, which puts The Taster in a competitive market.According to Porter’s five force model The Taster is structurally attractively as they have an advantage over their rivals in relation to changing price with their set menus and the fact they can differentiate their product from others in the market with similar establishments. Market size: Market context: Here is the pest analysis for The Taster restaurant. All of these factors are inevitable and cannot be changed by the restaurant * The political factors include Government regulations for food preparation has been put to place to ensure the safety of customers in the restaurants.Food safety authority of Ireland has put a procedure called HACCP into place to regu late this. The government have full control over tax and vat rates. For the initial set up of the restaurant high interest rates might discourage us from borrowing money from a financial institution because it costs so much to borrow. * Economic factors are Inflation, which will increase the amount of wages for employees and automatically increase the business expenses as wages is one the highest expenses in a business. Eating ut in restaurants isn’t an essential it’s a luxury that many people in this economic climate cannot avail of as they have lack of disposable income. * Social factors include the huge increase in health awareness and people concern more about their diet and lifestyle.The Taster took this into consideration when creating their menu and included many healthy options to choice from. Over the past few years the media have put a lot of attention on healthy living and healthy life styles. The chefs had to take this into account when we are preparing the food in the kitchen.A lot of woman are now working full and part time and not staying at home so there is a huge decrease in the amount of people cooking at home as it is more convenient to eat out and get take- aways. * Technological factors in the restaurant have made significant changes for example when an employee puts a customer’s order into the till the order is sent directly to the kitchen so it saves time. The process of ordering food is made simply and efficient as the chefs can make food orders online. This allows them to order exact quantities of food at any given stage during the day even on weekends.Handheld computer devises also allows staff members to take orders quicker and not have to write it down, not only does this save on paper it also like the till sends orders directly to kitchen. Competitive positioning and advantage: The Taster’s positioning in the market will generate sales against the competition and give them a competitive edge over the oth er establishments. By offering the consumers a unique product, along with outstanding service, The Taster will stand out in comparison to the competition which is an attractive prospect for potential investors to the restaurant.Currently there are six other restaurants in the area and we are in direct competition with Casa Pasta & Pizza. They also have lunch specials and early bird menus to attract customers. The foods we are providing are very similar because they are both Italian so we have obvious similarities in the menus. The competitors will respond to a new restaurant opening in the market by been even more competitive with prices, quality and the service. They have an advantage over the direct competition that competes with what they are offering as they have a unique set up in the restaurant as it provides customers with samples of the food.They also have the advantage that they have a variety of food menus on offer to compete in the recession and cater for most people†™s budgets. The one disadvantage that The Taster has over the competition is that the other restaurants are well known and well established in the market place and have a regular customer base. Competitive Advantage: As mentioned above The Taster intends on competing with the competition by been unique, competitively priced, produce dishes from the finest freshest ingredients and serve the dishes with the highest standard of quality. Risk Factors: Risk| Comment/mitigation|What if there are customers that come in and try our food and samples and walk out? | We will not only rethink the way we produce our cuisine, but we will also rethink how we make our dining service more attractive. | What if a lot of disinterested passers are attracted by the offer and will go in and take the food samples and are generally being very messy? | They will have to look into hiring security in order to manage any antics that might occur from the disinterested people. | How will the restaurant fair wi th the Italian restaurant across the road and the ones in town?This risk is somehow too vague to consider quite just yet, although it will turn into a concern later on. | What will happen if the restaurant can’t manage to balance revenue from our expenses? | This is a possible problem that may occur in the early stages of the business if they don’t manage their expenses well. | What will happen if the main suppliers go out of business for whatever reasons? | They will have to figure out a way of contracting a back-up supplier in the likely event of something as unfortunate ever happening. | Exit StrategyThe Exit Strategy is one of the most important parts in the business. The company needs to ensure that the exit of the company and handing it over to another investor is successful. A plan has to be put into place to make the transition successful according to the company’s circumstances and any requirements that an individual shareholders of the company may have . Assuming The Taster turns into a successful business they intend on selling all of their assets and dividing the finance accumulated among the shareholders in proportion with the money they initially invested into the company.They are assuming they won’t be in debt and each shareholder receives a desirable profit from the business venture. The Taster exit strategy could be due to the liquidation of the company, the sale of the company or the strategic alliance with a partnering company. Although they are assuming they will be success they have to discuss all possibilities and outcomes with the investors to show them what will happen in the worst case scenario and inform them of all risks that are attached. The investors will review all risks and rewards and make a final decision if they want to invest into the company.