Limitations Of The Old Classification Regulations

Generally, an entity is taxed as either a corporation or a partnership and in the past there were major differences between the two, specifically, limited liability. The main benefit of a corporation was limited liability, while a partnership was subject to individual liability for partnership debts. Partnerships began to devise new configurations that were aimed at limiting their liability. They succeeded in creating limited partnerships, which took the main advantage of a corporation and shared that advantage with partnerships. The elimination of the limited liability distinction between corporations and partnerships came the need for a new entity classification system. However, the basis of the old classification regulations was†¦show more content†¦In the facts of the case, the Court discovered that the trustees â€Å"had authority to acquire and operate a golf course, receive the profits therefrom, make loans and investments, make regulations governing the trust, increase the number of trustees, and choose their successors. The Court further ascertained that the trust was to continue for a period of twenty-five years and would not dissolve upon the death of a trustee.† It was from these facts, that the Court decided the trust would be treated as a corporation for tax purposes. Also from this case, came the five characteristics that were used to determine if an organization was to be treated as a corporation for tax purposes in the Kintner classification regulations. Those characteristics were: (1) ability of the organization to hold title in property, (2) continuation of the organization without interruption by the death of an owner, (3) centralization of management, (4) free transferability of ownership interests, and (5) limited liability for the organization’s debts. The Kintner regulations came from the case of United States v. Kintner. In Kintner, the United States Court of Appeals for the Ninth Circuit was to decide whether an association of doctors would receive corporate tax treatment despite the fact that the organization was a partnership for state law purposes. â€Å"The doctors structured a state law partnership to meet the definition of an association in order to take

Reality Tv Should We Really Watch - 1194 Words

In the article Reality TV: Should We Really Watch? Elizabeth Larkins argues with the integrity of the genre of reality TV shows. She describes how watching one’s embarrassment or pain on TV and finding it humorous is wrong morally and mentally. Larkins describes how reality TV all began with one of the oldest reality shows â€Å"Candid Camera.† This show would broadcast hidden cameras of people in embarrassing or painful situations. It was a huge success, which ultimately started the popularity of the reality genre on television. Larkins also points out that most reality shows do not actually have any ‘reality’ in them. The producers of these shows cut and edit most of the scenes, skewing the actual reality. Larkins also discusses that reality shows portray racial stereotypes. She goes on and gives examples of several characters in real reality shows and how they depict racial stereotypes. Larkins concludes her essay with discussing how viewers should uphol d a moral responsibility by not supporting these types of shows. She explains that the shows are made to make money and they do not uphold any type of honor or integrity. Larkins explains that â€Å"one of the attractions of the reality television is the supposed ‘reality’ of it.† In order to persuade Larkin’s audience that reality shows are unethical, she points out that there is not much reality in them. Larkins reports that these shows are heavily edited. The scenes are altered in order to make the show moreShow MoreRelatedEssay about Discussion of the Morality of Reality Television600 Words   |  3 Pagesof Reality Television Reality TV is were you get to watch members of the public or celebritys perform tasks to win money or raise money for charity, at least that is what people say they go on it for. Reality TV is more so to do with gaining or upgrading the contestants celebrity status and there is no denying it, look what happened with peter Andrà © or Jade Goody, neither of them won their reality TV show but they are now both well known celebrities. Reality TV is extreamlyRead MoreChoosing Reality 1149 Words   |  5 PagesWhat we as a society watch on television really depends on the choices we make. George F. Will writes in his article â€Å"Reality Television: Oxymoron† of an increasingly infantilized society, whose moral philosophy is reducible to the celebration of â€Å"choice†, where adults are decreasingly distinguishable from children in their absorption in entertainments. This is a society in which â€Å"choice† exceeds all others and competition improves things. This society is built upon choice in every aspect of lifeRead MoreThe Reality of Reality Television1699 Words   |  7 PagesThe Reality of Reality Television Jacqueline Knudsen ENG122: English Composition II Jenna Fussell February 2, 2013 The Reality of Reality Television Have you ever set there watching your favorite reality television show and wondered what effects it could have on you, your family or your friends? Truth is most people do not think about the effects television shows can have before watching them or allowing their children to watch them. ThisRead MoreThe Stereotypical Reality Of Television1624 Words   |  7 PagesThe Stereotypical Reality in TV Although television can sometimes be educational, it is often agreed that reality TV creates dangerous stereotypes. These days, it seems like producers are willing to turn almost anything into a an hour long weekly series. Another growing concern that may indirectly promote stereotypes is the issue of privacy in reality TV. It is said that â€Å"participants in reality shows have openly admitted that giving the public access to the most personal moments of their livesRead MoreAnalysis Of Salman Rushdie s Essay1028 Words   |  5 PagesAnalysis of Salman Rushdie’s Essay; Reality TV: A Dearth of Talent and the Death of Morality In his essay, Reality TV: A Dearth of Talent and the Death of Morality, Salman Rushdie argues that the popularity of reality television shows should both alarm us and enlighten us as we examine their success. What is Rushdie’s primary argument, and in what tone does he make his plea? How well does Rushdie keep our attention as a writer and are his arguments credible? Are his claims supported by hard evidenceRead More You are what you watch! Essay1420 Words   |  6 Pageswere their only glimpse into how we lived our lives? Francine Prose ponders this same question in her essay â€Å"Voting Democracy off the Island: Reality TV and the Republican Ethos,† in which she asks not only what future anthropologists might deduce, but, â€Å"for that matter,† what â€Å"contemporary TV-addicted children and adults† might realize if they were to more closely examine their motivation for watching these shows (22). Salman Rushdie, in his article â€Å"Reality TV: A Dearth of Talent and the DeathRead MoreThe Reality Of Reality Television936 Words   |  4 PagesThe reality show phenomenon Have you ever wondered what attracts millions of Americans each week to watch this cultural phenomenon know as reality television? It first started in 1948 when Allen Funt created a TV series called Candid Camera, this is the first known reality television show series. â€Å"Reality television episodes have increased up to 57% of all television shows that can be found on your TV guides† (Shocking). Big Brother was one of the first successful and most viewed reality televisionRead MoreDuck Dynasty ´s Phil Robertson and His Interview and Opinion Regarding Homosexuality1278 Words   |  5 PagesThere is a fine line between expressing your personal opinion and verbally criticizing others. However, when it comes down to it, what was Phil Robertson, the â€Å"dad of Duck Dynasty,† really doing? â€Å"My mission today is to go forth and tell people about why I follow Christ and also what the bible teaches, and part of the teaching is that women and men are meant to be toge ther,† he stated. Personally, I believe that Phil Robertson was being brutally honest and I see no issue with that. Arts EntertainmentRead MoreWatching Tv Is Not So Bad969 Words   |  4 Pagesâ€Å"binge-watching† and â€Å"marathoning† TV series is becoming more and more socially acceptable in our day and age but there are still many people who hold the beliefs that watching TV makes you dumb, and who say things like â€Å"you should find something useful to do with your time.† Because to them, watching TV has no benefits to it at all. But what if there were actually ways to prove to those people that our binge-watching habits can actually make us smarter? As a person who loves her TV marathons, I was quite interestedRead MoreThe Effects Of Television On Our Health951 Words   |  4 Pagesstated in his article â€Å"Silent that Idiot box† that letting your children watch too much television can ruin them in the long run. Television has the ability to lead children to violence and destroy their innocence. Television can be pleasing to the eye. According to Jacoby children don’t become educated from watching TV. The more TV they watch, the less educated they usually end up. I agree with him because when I use to watch television I would feel extremely sluggish and not want to do anything else

Physical Beauty to Inner Beauty Free Essays

We are human beings, we need both physical beauty and inner beauty. We are not angels to search only for inner beauty. Also we are not devils to search only for outer beauty. We will write a custom essay sample on Physical Beauty to Inner Beauty or any similar topic only for you Order Now We have eyes, first of all we look at someone physical, but as the time goes by we know the real people whether having inner beauty or not. The three aspects i am going to discuss are respect, confidence and relationship. The three aspects i am going to discuss are respect, confidence and relationship. The are many different between physical beauty and inner beauty and the most important is respect. Inner beauty is responsible for providing the person with more respect and status in society. Also physical beauty play role but if you’re not good with your soul then the outer beauty role remain for less period but if you are good at your soul then you are talked everywhere. We may find a good and charming looking person but unless he or she is not good at soul we can not play a relationship. The other different is to be in confidence. The physical will always attract because of the hormones in our bodies but I also think that people have different ideas of what they are attracted to. But today’s society and cultures play a huge influence on what people should think is attractive but the people that today’s society and culture call beautiful exhibit strong confidence in how they appear, so confidence will play role in it too. The last different is in relationship. When you meet someone for the first time, you will acknowledge their physical beauty first and then after you talk to him/her for quite some time you will acknowledge their inner beauty like their personality, their wit and etc. You might not agree with me on this case because some of you might say that inner beauty is the real beauty. But if you ask people around I bet they will say the same thing. The first trigger will be physical beauty. You can take e. g. from the story of Cinderella. Prince choose chooses Cinderella when he spotted her with beautiful dress and make up nicely not with kitchen uniform, I wonder if the prince will even ask her dance if Cinderella’s wear her apron. The outer beauty will always attract but the inner beauty is what will give relationship long evity. In conclusion, we can say inner beauty has higher meaning on how we look at what is attractive. We should be more interested in the inner beauty first before seeking what is on the outside because beauty open locked doors, many people look for external beauty and they forget about feelings but in the end when the beauty is over, the same doors will be closed How to cite Physical Beauty to Inner Beauty, Essay examples

Distribution Channel of Coca Cola Essay Example For Students

Distribution Channel of Coca Cola Essay EXECUTIVE SUMMARY Today cold drinks have become an important item of refreshment. Cold drinks are an important part of each and every occasion that provides freshness. Worldwide, Coca-Cola and Pepsi are well known as the best soft drinks in the field of beverages. Under the present scenario companies are facing major problem that is â€Å"How to meet the consumer need. † The mind of the consumer is very unpredictable and it is very difficult to know what is going in the mind of the consumer. In today’s market situation, consumer has various options and choice. He can choose the best options available in the market, which gives them better service for the long time. So, in order to fulfill all the needs and demands of the consumer, the manufacturing companies should concentrate on the distribution channel and should make an effective and efficient distribution network. As we all know that the distribution channel is only one way through which the product is reaches to its consumer. So the company should have an effective distribution network which satisfy the demand and provide services to the consumer. In India, Coca-Cola and Pepsi are the main beverages making companies. These companies have flooded the market with various brands of beverages. The objective of the study is to study the distribution channel of COCA-COLA pvt. Ltd. In There are 8 distributors Nagpur market and to find out the factors responsible for low distribution and suggest the measure to improve the scenario. In Nagpur, coca-cola pvt. Ltd. is one of the bottling plants of Coca-Cola Company which is situated in Maharashtra in MIDC, Hingna, and Nagpur-440028. Of Coca-Cola in Nagpur region. And there are 7000 retailers under these distributors but it was not possible to cover all the retailers so as a sample has been taken for the study under these distributors. To under the procurement of new for coke by visiting at Nagpur. Required information has been collected through questionnaires and personnel interview with retailers. This information is presented in the form of charts, tables and graphs as the requirement. Data has been analysis accordingly and conclusion has been drawn based on the data analysis. Possible suggestion has been recommended at the end of the study. The major finding and conclusion of the research study conducted by the researcher are given in brief as under:- 1. 1. COCA-COLA IN INDIA Coca-Cola was the leading soft drink brand in India until 1977 when it left rather than reveals its formula to the government and reduces its equity stake as required under the Foreign Exchange Regulation Act (FERA) which governed the operations of foreign companies in India. After a 16-year absence, Coca-Cola returned to India in 1993, cementing its presence with a deal that gave Coca-Cola ownership of the nations top soft-drink brands and bottling network. Coke’s acquisition of local popular Indian brands including Thums Up (the most trusted brand in India), Limca, Maaza, Citra and Gold Spot provided not only physical manufacturing, bottling, and distribution assets but also strong consumer preference. This combination of local and global brands enabled Coca-Cola to exploit the benefits of global branding and global trends in tastes while also tapping into traditional domestic markets. Leading Indian brands joined the Companys international family of brands, including Coca Cola, diet Coke, Sprite and Fanta, plus the Schweppes product range. In 2000, the company launched the Kinley water brand and in 2001, Shock energy drink and the powdered concentrate Sunfill hit the market. From 1993 to 2003, Coca-Cola invested more than US$1 billion in India, making it one of the country’s top international investors. By 2003, Coca-Cola India had won the Prestigious Woodruff Cup from among 22 divisions of the Company based on three broad parameters of volume, profitability, and quality. .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 , .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .postImageUrl , .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .centered-text-area { min-height: 80px; position: relative; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 , .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:hover , .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:visited , .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:active { border:0!important; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .clearfix:after { content: ""; display: table; clear: both; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:active , .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .centered-text-area { width: 100%; position: relative ; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:hover .ctaButton { background-color: #34495E!important; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970 .ud5c3fcc6f59fab0e3da4a1b8dc0c8970-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud5c3fcc6f59fab0e3da4a1b8dc0c8970:after { content: ""; display: block; clear: both; } READ: Alexander The Great EssayCoca-Cola India achieved 39% volume growth in 2002 while the industry grew 23% nationally and the Company reached breakeven profitability in the region for the first time. Encouraged by its 2002 performance, Coca-Cola India announced plans to double its capacity at an investment of $125 million (Rs. 750 crore) between September 2002 and March 2003. In 2003, Coca-Cola had 17 manufacturing units, 60 distribution centers catering to 5,000 distributors and one million retail outlets, serviced via trucks and three-wheelers. Coca-Cola directly employed 10,000 people. Coca-Cola India produced its beverages with 7,000 local employees at its twenty-seven Wholly-owned bottling operations supplemented by seventeen franchisee-owned bottling. Operations and network of twenty-nine contract-packers to manufacture a range of products for the company. The complete manufacturing process had a documented quality control and assurance program including over 400 tests performed throughout the process. Almost all the goods and services required to produce and market. Coca-Cola in India are made locally, sometimes with the help of technology and skills from the Company. The complexity of the consumer soft drink market demanded a distribution process to Support 700,000 retail outlets serviced by a fleet that includes 10-ton trucks, open-bay three wheelers, and trademarked tricycles and pushcarts that were used to navigate the narrow alleyways of the cities. In addition to its own employees, Coke indirectly created employment for another 125,000 Indians through its procurement, supply, and distribution networks. While The Coca-Cola Company is a global company with some of the world’s most widely recognized brands, the Coca-Cola business in India, as in each country where coca-cola operate, is a local business. Our beverages are produced locally, employing Indian citizens, our product range and marketing reflect Indian tastes and lifestyles, and we are deeply involved in the life of the local communities in which we operate. BOTTLING OPERATIONS The Coca-Cola system in India comprises 27 wholly-owned Company-owned bottling operations and another 17 franchisee-owned bottling operations. A network of 29 contract-packers also manufactures a range of products for the Company. Almost all the goods and services required to produce and market Coca-Cola in India are made locally, sometimes with the help of technology and skills from the Company. CREATION OF THE IDEA OF THE SOFT DRINK: In olden days people used to quench their thirst by taking â€Å"Water† and â€Å"Ganna Juice† or they use â€Å"Lemon water† (a concentrate of water lemon and sugar) or fruit juice which is still prevailing in the market. But as we know people became more and more efficient, there was a felt needed for more sophisticated means of satisfying thirst, which ultimately gave way to the production of the modern soft drinks. 1. 2. AIM AND OBJECTIVES 1. AIM:- To study the procurement of new order of coke by visiting at nagpur . 2. Objectives: The aim that has been kept during the research work for the objective to be accomplished and the aspect/ area to be covered during the research are highlighted below:- (i)To generate consumer interest including trials to enlarge the market. (ii)To improve its position in the market. (iii)To modify the attitudes and understanding of the customer. (iv)To generate inquiries from the target customer group for customer contacts. (v)To safeguard outlets from canalization. (vi)To increase the rate of purchase for increasing the sale. (vii)To know whether retailers are satisfied with company’s distribution network. viii)To know the scheme that is given by the retailers to the consumer to increase the sale. 1. 3. Mission, Vision Values MISSION Everything we do is inspired by our enduring mission: †¢To Refresh the World in body, mind, and spirit. †¢To Inspire Moments of Optimism through our brands and our actions. †¢To Create Value and Make a Difference everywhere we eng age VISION To achieve sustainable growth, we have established a vision with clear goals. †¢Profit: Maximizing return to shareowners while being mindful of our overall responsibilities. †¢People: Being a great place to work where people are inspired to be the best they can be. Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples’ desires and needs. †¢Partners: Nurturing a winning network of partners and building mutual loyalty. †¢Planet: Being a responsible global citizen that makes a difference VALUES We are guided by shared values that we will live by as a company and as individuals. †¢Leadership: The courage to shape a better future †¢Passion: Committed in heart and mind †¢Integrity: Be real †¢Accountability: If it is to be, it’s up to me †¢Collaboration: Leverage collective genius †¢Innovation: Seek, imagine, create, delight †¢Quality: What we do, we do well

Women in Entrepreneurship

Tess of the d Urbervilles by Thomas Hardy

Tess of the d Urbervilles by Thomas Hardy Tess of the d'UrbervillesSome critics have said that fate conspiresagainst Tess, and that she is not responsiblefor the things which happen to her. Sheherself says, "I am more sinned against than sinning." Do you agree or disagree? Supportyour answer with evidence from the text.As a person who believes that many things are un-avoidable, no matter how careful you are to avoid them, I believe that Tess's life was tragically destroyed by the hand of fate. It is obvious through the words and actions of Tess that she only wanted to have a calm, normal life. However, it seems that she was chosen, for whatever reason, to be on the receiving end of continuous hardships.From the very beginning of the novel, Tess receives "the short end of the stick" in almost every scene. She is one of the girls who doesn't get to dance with the strange young man before he returns to his brothers.Rose,Tess of the d'Urbervilles,ãÆ' Ã£Æ' ©,ãÆ'†ã‚ ¹ ã‚ ªÃ¯ ¿ ½...Although they exchange looks at each ot her, he runs off into the night without a word spoken between them. This is our first glimpse of Tess, and even before we learn more about her, we know that her family is not well off and that her father seems to be a bit of a drunk. Next, she is, to a degree, railroaded into going to claim kinship to the d'Urbervilles."OeWell, as I killed the horse, mother,' shesaid mournfully, OeI suppose I ought to dosomething. I don't mind going and seeingher, but you must leave it to me aboutasking for help."Tess was very reluctant to go to the d'Urberville house and ask for help, but for some reason, her parents chose her. At the d'Urberville's house, Alec first harasses Tess when they go horseback...

Cultural constraints in management theories Essay

Cultural constraints in management theories - Essay Example Despite their popularity, the validity and reliability of many of these models is easily questioned. Hosftede’s and Trompenaars’ dimensions of culture have far-reaching implications for organizations. In China, which has been heavily influenced by a unique combination of collectivism, communism, and Confucianism, these dimensions and their effects on management are extremely pronounced. In China, which has been heavily influenced by a unique combination of collectivism, communism, and Confucianism, these dimensions and their effects on management are extremely pronounced. Motivation exemplifies one of the most challenging aspects of organizational functioning in China. Yet, despite a wealth of literature on the topic, many of these dimensions and established beliefs require future consideration. The goal of this essay is to review the current state of knowledge about culture and motivation in China. The first half of this essay is devoted to the evaluation and criticism of cultural convictions about China through the prism of Hofstede’s and Trompenaars’ models. The second part of the essay talks about motivation within Chinese cultural contexts and the applicability of motivation theories in the Chinese culture. The main finding of this essay is that there is no one universal approach to the study of culture and motivation in cross-cultural contexts: cultures are never static, and it is never possible to predict how future cultural changes will affect organizations and employees in long-term periods. Hofstede, Trompenaars, and China: the culture-management relationship revisited China is rightly considered as one of the most popular objects of contemporary organization research. Much has been written and said about Chinese culture and its implications for business. Nonetheless, numerous aspects of cultural functioning in Chinese organizations remain poorly understood. Therefore, there is a need for reconsidering the role and implicat ions of Chinese national culture for management. It goes without saying that Hofstede’s model has long been the main instrument of management cultural research. This paper is no exception. â€Å"Hofstede’s dimensions of culture will create a foundation for understanding the effects of national culture on Chinese enterprises† (Geert Hofstede 2009). Geert Hofstede explored China along several important dimensions: long-term orientation, individualism and collectivism, power distance and, which was unique for China, Confucianism. China is believed to be a highly long-term oriented culture: the country is ranked the highest among other Asian countries on the long-term orientation dimension. Simply stated, the Chinese are prepared to work hard to achieve their long-term goals (Geert Hofstede 2009). Furthermore, Chinese national culture is characterized by high commitment to collectivist values: on the individualism dimension China is ranked the lowest of all Asian cu ltures (Geert Hofstede 2009). Low individualism in China is usually attributed to the long-standing legacy of communism and the historical values of family and relationships. Not only do the Chinese rely on the collectivist networks, but they tend to assume responsibility for members of their group (Geert Hofstede 2009). Given the role of communism in the Chinese history and culture, it comes as no surprise that the country ranks high on the Power Distance dimension. In other words, China demonstrates a serious gap between those in power and their subordinates (Geert Hofstede 2009). In no way is power distance imposed on the Chinese people; rather, organizations and individuals in China accept this dimension for granted and as part of their culture (Geert Hofstede 2009). Whether or not China is a feminine society Hofstede does not tell. Moreover, there is no universal agreement on this

International marketing Assignment Example | Topics and Well Written Essays - 250 words

International marketing - Assignment Example The Korean consumer class is able to purchase the product as it is affordable and consumable with 90% craving it and 50% consuming it each day. Its benefits have been found to be such as the reduction of blood pressure and dark chocolate has flavanoids that are good for ones health. The main companies in Korea are Orion, Nong Shim, Lotte confectionery and Crown Snack and they dominate the confectionery sector. However, there is potential for growth in this industry as the market is still small as compared to that of other countries providing Haigh’s a large market that has a great potential for expansion. This is further boosted by the fact that among the countries that Korea imports chocolates from, Australia ranks third and Haigh’s already has an established reputation in Australia. The fact that Haigh’s chocolate has been in business since 1915 gives them a competitive advantage that has equipped the company with the data and knowledge of how the industry works. More so, Haigh’s chocolate already has a reputation for manufacturing and selling high quality chocolates. Chocolate Business In Korea — Presentation Transcript, 2009. Chocolate Business In Korea, Immersion Week Program in 2009. [Online] Retrieved on 17th April:

Maths problem Math Example | Topics and Well Written Essays - 250 words

Maths - Math Problem Example For example, if customers only demand (or can access) 5 units, they will be willing to pay 51- 52 =  £26 (according to market demand, but according to the market supply and demand the market price remains at  £15, hence consumers save (26-15 =  £11), for the fifth unit bought. The  £11 is thus the consumer surplus. It increases as the quantity demanded decreases. Producer surplus on the other hand is the gain to producers for every unit of quantity supplied below the optimal quantity, due to the fact that the equilibrium price exceeds the price at which suppliers are willing and able to supply that quantity. According to the case above, producers are willing to supply 3 units at a price of  £ 8.25 ( 6+ 32/4 ), but the market price gives them an advantage of (15-8.25 =  £6.75) for the third unit sold. The excess is the producer surplus, which reduces as the quantity produces approaches equilibrium quantity. As observed in (ii) above the peak rate is at 5 from which the rate starts decreasing. Therefore as t approaches infinity (moves away from 5), then the rate approaches zero. This trend explains the large negative difference between the totals of the two periods. Typically, consumer surplus is the area under the demand curve but above the equilibrium price. While producer surplus is the area above the supply curve limited by the horizontal line at the equilibrium price as shown in the diagram. iii. Note that in this case, producer surplus exceeds consumer surplus contrary to what was observed in question two. Probably, the producers are able to restrict supply and hence push price high (towards the demand curve) hence reducing the gain to

Why Many Projects Fail At Rural Areas Construction Essay

Why Many Projects Fail At Rural Areas Construction Essay The construction industry is regarded as one of major indicators of the countrys economy, especially for developing countries. Periods of prosperity are usually associated with a large volume of construction activity, yet the rate of construction project failures is unacceptably high. 2. Abstract Purpose investigation into the cause of construction projects failure in rural areas, the research has been working at Kwazulu Natal (KZN) Province. The is research going to look at poor management, poor planning, lack of proper skill and cost overspend which is a merger problem to all construction Industry special to developed and developing countries. The purpose of this research is to find the factors enforce cost overspending to the construction industry which is affect south Africa economy. Literature reviews- Survey, curried out challenges through interviews of 2 Local Municipalities in rural areas, projects managers, project planners and also look at the budget were allocated for projects in rural and also conducted interview to the relevant stakeholders, through different news paper, through internet so that can be able to access the opinions of other people and get some literature books, the information will reveal proper equipments that is good for rural condition and it will come out with solution regards project failure. Findings research will be assist the government and other stakeholders to achieve good production in rural development, Analysis of theory via literature review would be aimed at finding answers to the question regarding the essential elements of project failure in rural developments and interview would be recorded with the permission of the interviewees. Internet would be the preferred method of obtaining precedents. We as consultant employed by government to identify the problem and find the solution so that we can give advice to government we undertake the research up to the ends. Ever since the research is on process to reach all the goals regards project failure in KZN special in rural areas. Conclusion-The consultant that will undertake studies concerning the cause and factors that influence to project in rural areas, were reliable because has found from construction Industry. As a consultant I will do my best to keep client happy and respect all stakeholders and would resolve the issue, if government and other stakeholders improve the standard too and ensure that all the work that carry out by Municipalities at rural has to be done effectively and efficiently. 3. Introduction Background of the study Many challenges in construction industry throughout the country are presented by different Personalities, financial limitations, time and scheduling, technical barriers, development work faces issues that are unique to the developing country. These problems may be present in country but due to inherent characteristics of developing, these issues are exacerbated and pose even larger challenges in development work. Throughout the developing people suffer due inadequate or failing of infrastructure. Infrastructure which are houses, roads, school and bridges, is the physical foundation on which development efforts and improved living standard are established. The construction industry in developing countries states that the construction industry is an essential contributor to the process of development, influencing nearly every sector of the economy. Improving the capacity and capabilities of the construction industry in developing countries is a critical step to improving infrastructure development that is over looked. (Kraig Lothe). According Kraig Lothe; South Africa is developing country and there have big demand of infrastructure for the people of the country special those who stay in rural areas to improve lives and reduce homeless people. People are still suffering in rural areas due to the problem of project failure which cost government alot of money without a change that was a reason of such research Attempts have been made to identify critical factors that lead to project failure in the relevant collected works; however the causes of project failure in South Africa are not well known or documented especially the degree to which project consultants contribute to this failure. The construction projects, however, fail at a shocking rate international more than 50% by some estimates. The South Africa construction industry, which is generally considered to be dysfunctional, is no exception with many stakeholders in the construction process concluding, although not necessarily to the same degree, that project failure is rampant. A research will go to identify the causes of project failure especially in rural area. 4. Statement of the problem Infrastructure throughout the developing country consistently falls into disrepair. The project are not built to the same level of quality expected industry national and in many instances the local Municipalities in KZN do not have the capacity or desire to implements the project. This occurs because projects are initiated from the top, down, paying little attention to the needs and capacity of the local Municipalities. Difficulties that projects manages experience during the planning stage of a projects, need to look at insufficient propel skill in the construction industry that were used in rural projects. It is clear that this project lacked key elements in its design and implementation. A successful project is flexible and able to adapt to various contexts and still maintain Monitoring and evaluation of project progress through indicators is always necessary, especially in rural areas. In terms of implementation, project officers working on the ground, especially in extreme situa tions like current in KZN, should have some overseas experience and background information before arriving. Context where national institution cannot be relay on similarly, alternative methods of keeping track of finances needed to be developed in the context of a cash-only local economy. 5. The aim This study aims to examine the service delivery in rural areas, and to come up with a solution of finding a better way of project delivery in rural areas at KZN. 6. Objective of the study The objectives of study are to: ? Is to find the cause of project failure in rural areas ? Is to check the capacity of local Municipality to manage themselves their project. ? The need of proper skill in construction industry ? To emphases quality work in construction industry. 7. Research questions The study will be guided by the following research questions: ? What causing construction projects to fail in rural? ? Why local Municipality fail to rectify soon a problem of poor project delivery in rural? ? How could improve construction industry in rural areas? ? Which purposes does the research would achieve regards construction project in rural? 8. Research design As defined by the Construction Specifications institute (CSI), project delivery is the contractual relationships between the owner, designer, contractor(s), and the management services utilized to design and construct a project (CSI, 2005). Project delivery is the framework used to take a project from its initiation stage to completion. The most common delivery systems used today in the developed country are design-bid-build, design-build and construction management (Arditi et al., 2002). In the developing country, engineers have only recently been introduced to different project delivery systems. Before this, the contractors acted as master builders coordinating everything from start to finish. This master builder system leaves no gaps between participants and uses a simple contractual agreement. Unfortunately, the system can no longer be implemented effectively as modern construction has become too complex. There is a large separation of knowledge and responsibility between the design and construction phases. This causes major problems in both the design and construction. Designers do not have practical construction experience so local knowledge and construction techniques are not taken into account during the design, causing unreasonable expectations and inadequate specifications. The skill levels and knowledge of the contractors vary greatly. Designers also complain that they have to over compensate for the expected lack of skill in operations and maintenance (Davis and Brikke, 1995), but this is exactly what is needed to design for sustainability. According Arditi information that is a reality, system have to follow to all project in order to minimize the problems and because project includes many parties need to be involve and satisfied with process, the project manager have to play a big role to make all parties happy and project could be smooth. 9. Literature Survey Conducting an interviews with the different Municipalities and Transport in rural areas that are affected by the issue of project failure in construction industry. They are serious factors that are influencing construction project which are uncoordet building environment professionals, collection of data, poor user input, poor project design and leadership; design and construction problems; and inappropriate staff skills; unrealistic timescales and cost estimation; poor selection of building procurement methods; failure to plan and lack of pre-project planning, and researching information on people who were specialist in the construction industry namely: architect, quantity surveyor, project manager, and structural engineer that are play a leading role in the development team. 10. Methodology Interview conducted through emails and telephonically with two municipalities which is Jozini and Umvoti. Jozini is local Municipality in rural area which is in North Coast of Kwazulu Natal at 125km towards the bonder of Mozambique and 78km towards the bonder of Swaziland, that municipality is under UMkhanyakude district Municipality. Jozini municipality is on struggle to push service delivery at rural area. Interview conducted with the Technical director regarding challenges that led to construction project to fail explain the following issue: Housing project Municipality has been experiencing a lot of challenges to housing project that was allocated to Kwajobe Area under Jobe Traditional Authority, as a rural insitu upgrade, project has been finish on 2008 June but there were many defects that need to be attend such as , floor cracks, wall cracks, roof took off by storm. The beneficiaries were unhappy at all about houses that were built; therefore municipality got a challenge to rectify those houses because consultants who were project manager have overspending the cost. And he added that there is a current insitu upgrade housing project that allocated Emakhonyeni area is still in planning stage for 4yrs, consultant report many difficulties that might cause project fail. The Municipality which has influence over the Munyeni Traditional Council area has forwarded a request for the approval of 1000 rural subsidies, for this project. Due to the limited capacity of the Municipality, an Implementing Agent has been appointed to undertake the housing development. The submission for stage 1(beginning of the planning process) was approved by the MEC of Human Settlements on 02 March 2010, since then there is no progress and consultant declared to municipality that they fails to undertaking the project to other stage. According Jozini municipality they employed Implementing Agents that were not qualified to do work in order such big project because in the rural areas need advance equipment to reach even a place that are not easily to reach. There is a big challenge facing rural areas even also government tried to developed relevant skilled people in order to fight against the insufficient of unskillful people in rural. Road construction Jozini Municipality plan to networking of the road comprises a hierarchical network of roads, being Primary, District and Local roads. The Jozini Municipality aims to develop a road network that will service all its communities and people to ensure that they need not walk more than 5 km to reach a Primary road or District road. This objective is already realized for some areas in the municipality area the runs. The condition of gravel roads are deteriorating rapidly and maintenance there to appear to be inadequate and roads often become impossible in wet conditions. The maintenance of these roads are a dedicated responsibility of the Department of Transport. An assessment of the location of the proposed development nodes have indicated an adequate all weather access to each of these. The nodes are further located on bus routes, which enhances the development potential thereof. The development nodes identified are located on district roads. The challenges regarding roads construction era equipment that were not easily to found because its cost lot of money here and transport it, as the result company s were failed to keep it until project would be over. The Road is 17 km from Jozini village to Makhathini flats and supposed to take one and half year to constructed but seems as it will take 6 years, still there is lot of work to be done. Municipality has been changing contractors to do something. There is a road from uMbombo to Mbazwane that road connecting uMbombo hospital and Mseleni hospital minister of transport at KNZ had approved the project in 2009 August and the contractor has been employed since then there is no visible progress regarding the project. The maintenance of these roads is a dedicated responsibility of the Department of Transport. . Proposed Transport Facilities In order to enhance the public transport facilities, it is proposed that taxi/bus stops be introduced at current locations two types of facilities are foreseen, namely: Major taxi/bus facilities which will comprise formal paved areas with passenger waiting facilities, the last mentioned which will be roofed. This will normally be served by existing shops and post boxes. This facility can be enhanced by formalized institutional facilities in the form of clinics, tribal courts and pension payout points. Minor taxi/bus facilities which will be only mark stall facilities and passenger waiting facilities. Provincial Roads As indicated above, the provincial roads have merely been provided as guidance as this has no effects on the analysis. The majorities of the provincial roads, being specifically the P and D roads, are of reasonable standard and frequently maintained by the authorities. The L and A roads are generally of inferior quality and only portions thereof are maintained by the authorities, and not on a Regular basis. Municipal Roads The municipal roads have been identified as those roads which serve at least 10 households as Secondary roads and 20 households as primary roads, whilst the household access roads predominantly will serves individuals household. Arising from aforementioned, the cost to establish the household access roads appears to be fairly prohibitive and should be prioritized only after the municipal rural roads have been established and after a maintenance budget have been affected therefore. The condition of the rural roads was assessed during in loco inspections. The condition could be classified according to the following norms: Surfaced roads, being those that have been formally constructed and provided with an all weather surface. Gravel roads, being those that had formally been shaped and provided with a gravel surface. Dirt roads, being those that were merely formed through blading. Tracks, being those formed through use of only vehicles. The majority of the municipal roads in existence were classified as dirty roads, being those which had merely been bladed, with no formal gravel surface or storm water drainage. These however still provide access to homesteads. Operations and Maintenance The provision and maintenance of roads is a dedicated responsibility of the Department of Transport. The said Department has established Road Transportation Forums, which prioritize the provision thereof in terms of the needs expressed by the community. This includes the provision of river crossings and bridges. Umvoti Municipality is a Category B municipality and is one of the four local municipalities within Umzinyathi District.Greytown,the main centre is situated approximately 65km from Pietermaritzburg and 100km from Stanger, and includes the town of Kranskop (refer to Map 1). It is about 2509km in extent and its population is estimated between 92 419 people and 117 000 people who are spread unevenly among the eleven municipal wards. It is located on the southern part of UMzinyathi District, and borders onto uMgungundlovu District to the south, Mshwathi Local Municipality, and largely falls within the Pietermaritzburg functional economic region. The parts of the municipality that borders onto King Shaka District enjoy the influence of Stanger-KwaDukuza economic region. Umvoti Local Municipality is well integrated into the Provincial transportation network. Route 33 MAP 1: LOCALITY MAP Umvoti serves as a major link between Greytown and Dundee while R74 connects the urban centre of Greytown, Kranskop and is the largest of four Municipalities, in terms of area, in the UMzinyathi District. Umvoti local municipality has been challenged both housing and road although that municipality has advantage of big road passing through which is R74, but they challenged to the access road and bridges that connect communities. According municipal official those access road have been identified and also bridges were approved because of the different challenges since then no bridges been constructed. Housing project have a big problem because Umvoti municipality surrounded by privates property that is not easy to develop, like one project is called Muden housing project that was given CHS developments as Implementing Agent. Muden housing project has been takes more five years still in the planning stage1. The cause of the matter is property that owners not by ingonyama trust as policy state that rural project was awarded only people who live under ingonyama trust land or property. CHS Developments still waiting approval for a proposal to use a property as Implementing Agent . Consultants Interview conducted with some of project managers regarding project failure in rural areas which is a big problem that affects people who are living at rural. There number of issue mention which is a policy, shortage of equipments, skill challenge, material, political leadership. 1. Policy that government had been set as guide lines of how to implements a project, sometime makes things to be more difficult end up cause many problems, eg a stage1 application its take time to approve and it s process usually been very slow than expected. 2. The shortage of equipments mentioned as a major problem in construction actually is not a rural areas problem only even at urban areas is a common problem but that s worse in rural areas. The project has been stack if is difficult to find relevant equipment. 3. The construction industry has a big challenge in term of people who have skill because most of them got relevant qualification with very poorer performance in practical work, as the results project fail to met the construction standard will end up fails. 4. The most problem in rural areas is material that s not easy to find it due the smaller stock in hardwires shop, even if you please order will takes long time to receive it, that one cause lot of delays end up whole project fail. 5. Political leadership sometimes cause lot of confusion in the project when they made unnecessary decision without observing the policy that should follow to runs a project. What causing construction projects to fail in rural? The budget that allocated for the projects in rural might be not enough amounts to compared with work to be done. The Consultants spend long time to prepare the projects and to implementation of it, material require according to the specifications is not easily to find at rural areas, equipment to be use are not found because due to the area condition need the advance machine so to be able to reach even the steep slope and unaccesseble sites. The main challenge projects were failing to reach the quality standard of construction industry. Many challenges in construction projects throughout the country are presented by different personalities, financial limitations, time and scheduling, technical barriers, and various surprises of difficulties. Development work faces issues that are unique to the developing country. These problems may be present in industrialized national but due to inherent characteristics of developing country, these issues are exacerbated and pose even larger challenges in development work. The municipality employed unqualified consultant as the results there is no progress. Cost/ benefits Travelling expenses in conducting the interviews to the different of Municipality and Department of Public Work Transport at rural areas, I have been get newspaper articles and using internet cafes to get more information and even makes number of calls. Impact 5. Advantages and Disadvantages Rural area have still challenged with A problem with the apolitical approach is that it is not apolitical. In addition to including an academic perspective to appreciate context, it is also important to include political perspectives to avoid unintentionally or indirectly causing harm in a situation. Any astute observer may wonder, if development projects without Multidisciplinary collaborations, as they are most often designed and implemented, have not produced positive results then are it possible that the good intentions have produced negative results? There are countless ways in which external interventions can thwart the internal development of a community or a nation and in some cases, fuel violence and corruption and contribute to the degradation of existing structures and systems. Why local Municipality fail to rectify a problem of poor delivery in rural? Projects also fail because they do not meet user requirements and are full of assumptions that give rise to conflict. Architect sometime get their briefs from people who are not regular users of the building or do not know the specific requirements of the building. Informed end users must give meaningful input during every phase of the briefing, design and construction. Some of projects are finally cancelled simply because people did not like each other. Others fail because the design team did not know or did not bother to find out who the real stakeholders are or whether they were going to support it. Parties also tend to rigidly defend their positions. 7. Model processing The rural project process in different system unlike unban project is severely fragmented and there appears to several barriers to development, particularly that of parties tending to rigidly defend their own turfs. The property development requires a combination of specialist, traditionally organized into a district occupation groups. According to Hindle (1996), the differences among the specialist consultants involved in a project are emphasized with the results that major discontinuities are created by the focus on function rather than process. For project success these professionals should not act in isolation but a well defined and closely knit network. 8. Model Output The outcome of the construction project in the context of its relevant solution system. The planners and designers of a construction project team, irrespective of the number of members, contribute the cognitive complexity mentioned, inadequate management knowledge and systems. One needs to identify the root causes of systems failures and to select and implement effective measures .Needs to adopt the basic principle of systems thinking can increase the prospects of project success. Definition of terms For the purpose of this study the following definitions apply Projects in rural areas Construction Construction is a risk-driven, multi-dimensional process; it is a series of interdependent steps, each requiring specific technical knowledge and participants working together. In the developing country, construction employs techniques, materials and expertise that make perfect use of available resources and expertise, while others compromise the integrity of the final product. Material delays, misunderstandings, and discrepancies in design are a few common problems that prevent projects from being completed successfully, on time. Every party in the project must work together in a coordinated effort because tasks are interdependent. If one person fails, so may the entire project. The following are some of the most common problems encountered during the construction, sometime Municipality facing a difficulties to find a good project manager as the results project fails to manage propel. The rural projects include many parties such as community, traditional leadership work together with Municipality and other stockholders, usually the common project in rural such as housing, schools roads working. Material Procurement Material procurement in developing countries require significant pre-planning due to road conditions, scarcity of transportation, and inconsistency of suppliers. Many sites are remote and are accessed by small 4-wheel drive vehicles, horse, and in some cases only by foot. Roads are also often washed out and thus prevent any vehicles from passing. For example, gravel, sand and aggregate are taken from local river beds. Often rivers swell, access to the river beds becomes impossible, and aggregate cannot be obtained. Local materials should be ordered early to prevent delays Project in Urban areas In many countries administration was the capital city and all development was focused on the capital city with infrastructure such as transport (road, rail, and air) concentrated around the capitals. The urban areas are the centre for economic growth and offer employment opportunities not found in the rural areas. Worldwide there is a drift towards the urban areas creating strains on the infrastructures and administration of these areas. At some time the rural areas are usually poorly serviced and sup-ported. (Peter Utting) According Proff. Peter Utting is agreed that many countries included South Africa did what others do. Focus is in big towns such as Johannesburg, Durban, Middleburg and Cape Town whereas the rural areas are in need of infrastructure. Structure of the report The project deals with the investigate the cause leads construction project fail in rural areas. The whole structure of the report have set as follows: Introduction/background, statement of the problem, the aim, objective of the study, research question, research design, literature survey, methodology, definition of terms, and conclusion. Construction Management The construction management project delivery system introduces professional management throughout the project acting as an agent of the owner. Owner has separate contracts with the contractor, designer, and construction manager. The role of construction manager as an agent of the owner does not bear any financial risk. The construction manager works closely with the designer and contractor during the design and construction phases in the best interest of the owner. The construction management entity has expertise in construction and allows the owner to execute complex projects which require extensive coordination between project participants The construction manager s expertise and involvement improves efficiency of even the most complex projects by minimizing rework, change orders, and cost overruns. The construction manager advises the owner in the design and construction stage allowing the owner have influence throughout the project. This involvement facilitates constructability, Integrating construction knowledge during the design phase. The construction manager oversees Design implementation during construction, often diminishing the designer s role in construction, but the involvement of the designer in construction differs in each project. In expensive, complex projects the extra cost of hiring a construction manager is offset by avoiding general contracting fees, savings in cost management, and the reduction of cost overruns. There is no delivery approach that is best in every situation. These three systems are the basic frameworks used in most projects. From each of these frameworks many variations and hybrids have evolved and been implemented. Projects may be adapted in any way that may aid in the project delivery and utilize the strengths of all project participants. The best project delivery system will address each of the project s unique needs and characteristics. Conclusion In conclusion this study identifies the needs of infrastructure and determines the challenges that municipalities are facing when are searching for information. Construction managers provide valuable construction expertise during design in the construction management delivery system. Acting in this role, development agencies need to involve construction personnel in design. Development agencies can either staff a contractor or hire contractors during the design to gain construction knowledge early. As involving potential contractors in the detailed design phase also provides continuity of construction personnel between the design and construction. If the contractor is involved early he can express his needs and learn those of the other participants. Through partnering, the parties can understand each other s needs and common goals can be created. However, the owner s goal of a cost-effective project may conflict with the contractor s profit motive. Incorporating these changes into typical project delivery is a viable way to address constructability issues in Honduras. The changes are small and affordable, effectively improving sustainability. Based on the research outlined in this report, shows a proposed delivery system for development work aimed to maximize community participation and involve a contractor in the design. While we have not tried to argue that multidisciplinary collaborations are the key to radically changing the development in rural, the cases presented do demonstrate that the lack of multidisciplinary collaborations does have a negative impact and does contribute to the failure of many development projects in rural area. More specifically, we have found that without consulting people, information and/or other resources from other sectors: I. Planners fail to fully understand the complexity of contexts; II. Planners gravitate towards grandiose, general, sectarian and superficial solutions rather than holistic and strategic ones; III. Planners, in their developme

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Why did the New Zealand government offer Warner Brothers incentives to Research Paper

Why did the New Zealand government offer Warner Brothers incentives to film The Hobbit in New Zealand - Research Paper Example The intent was also inclusive of changing the industry and society into a positive atmosphere, specifically with the expectation that the film would grow in popularity. This was combined with the noted changes in statistics of the society, which required alterations to offer more for those who were living in the region. The approach which was taken toward the filming as well as the expected economic stimulation led to the filming being a positive measure for growth in the economy while creating the destination as one that was branded through both landscape and the popularity of the filming. Moving into Economic Growth A main reason why New Zealand allowed Warner Brothers to film â€Å"The Hobbit† in New Zealand was because of the economic growth that was associated with the film. This was specific to the time frame, which is based on a global movement where each location is able to offer a unique element for the globe as a whole. To be a part of this movement is also the need to create a different understanding and highlight of various locations. The belief from the government was that this particular movie would highlight the best aspects of New Zealand, specifically with the nature shots and the elements of fantasy that were attributed to the landscape. This particular concept led to New Zealand opening into the global market and to push into free trade within the economy, specifically because it forced the barriers in the country to be removed. The intent was then partially based on changing global relationships and growth for a different approach to the economy (Gould, 2010). The concept of opening into free trade is one which was specific to the identification of businesses in New Zealand and the current state which they are in. It was believed that the trade unions and the businesses would be positively affected by highlighting the New Zealand territory, specifically because it would bring a sense of trust and popularity to the businesses in the re gion. This was combined with highlighting the advantages of New Zealand. For instance, the region is known as subsidy free in the free trade agreement; however, it has not opened to the global level of commerce in most regions. The highlights of different countries are also creating fair trade which occurs because of what is known as well as where the best deals are within the economy. By showing the main ideologies of New Zealand, those interested in business and other approaches to fair trade were able to investigate into global agreements while recognizing the strengths that were associated with the approach to partnering with a subsidy free region (Weyer, 2005). The approach which was taken with the economy was known to create a high stimulus and to open the free trade agreement to the region. The return was a $363 million amount of cash that went into the economy from tourism, trade with businesses in the region while filming and a high amount of tourism which began to grow aft er the popularity of the film. This was combined with a continuous range of additional economic activity from $119 to $227 million and indirect benefits of $10 million to $34 million. The concept was based on an international competition for the region to be highlighted as a global area for commerce, trade, environment and other concepts that were portrayed in the film. The scheme allowed the film producers to highlight the best of New Zealand, specifically to stimulate the economy and to force in levels of growth by the growing popularity of the region. The figures show that this particular tactic worked to stimulate the New Zealand economy (New Zealand Film Commission, 2011). Social Stimulus The concept of stimulating the economy not only worked

Research and critical evaluation on the M&M (Modigliani and Miller) Essay

Research and critical evaluation on the M&M (Modigliani and Miller) models and the production of a report - Essay Example The paper presents the elementary propositions of the Miller-Modigliani approach and after presenting their models, put forward a categorical analysis and criticism with respect to optimization for shareholders’ returns in the context of arbitrage scenario (Chandra, 2002, pp.411-412, 417-418). Financial Decision Making in Achievement of Specified Business Objectives Financial Decision Making The financial decisions taken by a business firm to meet financial objectives must also fulfill the goals of specified business objectives. Finance is considered to be the lifeblood of a business concern. Hence management of the financial resources for an organization must be conducted in a manner as to satisfy the organizational goals. The gamut of financial decisions focus on key activities like planning, organizing, directing the capital requirements and the usages of the funds incorporated in a business organization. These financial activities must be pursued in order to meet key finan cial objectives like achieving a strong rate of return on the amount of capital invested. The business must target at achieving such levels of profits as would not only help in meeting the amount of investments made but also for helping the business to accumulate funds for the future. However, organizations must not only focus on achieving huge profits to augment the capital value of the stakeholders but must generate a holistic view in bettering the economic position of the firm (Joseph, 2005, pp.170-172).. The short term financial needs of a firm center on acquiring of short-term business assets in meeting the short-term liabilities of the concern. This aspect is known as the management of working capital, which is conducted to take care of the current solvent position of the concern (Chandra, 2002, pp.4-5). Maximizing Shareholder Value Most business organizations render importance to the issue of augmenting the value of the owners and shareholders of a business firm. The value of the owners or shareholders of a business firm reflects on the market value of the total amount of stock possessed by such. Market value of the stocks refers to the price quotes of such while being traded in stock exchanges. Wealth of the shareholders is maximized by the business organization through the augmentation of the present value of some future returns expected by the owners. Future returns depend on the accrual of dividends or of future sale proceeds of company stocks. The present value of such future income is calculated based on a specific rate of discount accounted on receiving cash dividends in the future period (Moyer, McGuigan, & Kretlow, 2008, p.5). Financial Strategy A business organization to perform effectively must formulate an adequate financial strategy to satisfy the business goals. An effective financial strategy drawn by any concern revolves around accomplishing two specific business needs. Firstly it endeavors to cite the sectors from which the firm can dra w in adequate amount of funds to meet its business needs. Secondly, it sets guidelines for the proper management of such funds within the organization to generate an efficient financial structure. The business organization must also look forward in maximizing the return on the investments made and in minimizing the rate of risks adhered to it (Bender & Ward, 2008, pp.4-6). The

God of Small Things Quotes Essay Example for Free

God of Small Things Quotes Essay Extended metaphor: â€Å"Perhaps Ammu, Estha and she were the worst transgressors. But it wasnt just them. They all broke the rules. They all crossed into forbidden territory. They all crossed into forbidden territory. They all tampered with the laws that lay down who should be loved and how. And how much. The laws that make grandmothers grandmothers, uncles uncles, mothers mothers, cousins cousins, jam jam, and jelly jelly. Rahel and Estha live in a society with very rigid class lines. â€Å"Commonly held view that a married daughter had no position in her parent’s home. As for a divorced daughter – according to Baby Kochamma, she had no position anywhere at all. And for a divorced daughter from a love marriage, well, words could not describe Baby Kochamma’s outrage†¦Ã¢â‚¬  â€Å"Chacko told the twins that, though he hated to admit it, they were all Anglophiles. They were a family of Anglophiles. Pointed in the wrong direction, trapped outside their own history and unable to retrace their steps because their footprints had been swept away† The concept of Anglophilia is a big one in this book, from the way everyone fawns over Sophie Mol, to Chackos cocky attitude about his Oxford degree, to the whole familys obsession with The Sound of Music. But its pretty clear that the thing they love also holds them down. When Chacko says their footprints have been swept away, he is making a reference to the way members of the Untouchable caste have to sweep away their footprints so that people of higher classes dont pollute themselves by walking in them. Even though by Indian standards their family is of a relatively high social status, they are of a low social status in relation to the British. Pappachi would not allow Paravans into the house. Nobody would. They were not allowed to touch anything that Touchables touched. Caste Hindus and Caste Christians. Mammachi told Estha and Rahel that she could remember a time, in her girlhood, when Paravans were expected to crawl backwards with a broom, sweeping away their footprints so that Brahmins or Syrian Christians would not defile themselves by accidentally stepping into a Paravans footprint. In Mammachis time, Paravans, like other Untouchables, were not allowed to walk on public roads, not allowed to cover their upper bodies, not allowed to carry umbrellas. They had to put their hands over their mouths when they spoke, to divert their polluted breath away from those whom they addressed. (2.270) This quote speaks volumes about the experience of the Untouchables, and it helps us appreciate the kinds of deeply ingrained attitudes that drive so much of the prejudice and hate we see in the novel. Then [Baby Kochamma] shuddered her schoolgirl shudder. That was when she said: How could she stand the smell? Havent you noticed? They have a particular smell, these Paravans. (13.129) Like Mammachi, Baby Kochamma has a heap of prejudices against other social classes, and these prejudices run deep. By disparaging Velutha out loud and saying that his smell must have been intolerable, she tries to show just how high class she is. Mammachis rage at the old one-eyed Paravan standing in the rain, drunk, dribbling and covered in mud was re-directed into a cold contempt for her daughter and what she had done. She thought of her naked, coupling in the mud with a man who was nothing but a filthy coolie. She imagined it in vivid detail: a Paravans coarse black hand on her daughters breast. His mouth on hers. His black hips jerking between her parted legs. The sound of their breathing. His particular Paravan smell. Like animals, Mammachi thought and nearly vomited. (13.131) Again, we see just how deeply Mammachis prejudices run. She doesnt see Ammu and Veluthas relationship as love between two people, as it might look to us. As far as she is concerned, it is as low as two animals going at it in the mud. The idea of a coolie (lower-class laborer) having sex with her daughter is so repulsive to Mammachi that it almost makes her puke. Still, to say that it all began when Sophie Mol came to Ayemenem is only one way of looking at it. Equally, it could be argued that it actually began thousands of years ago. Long before the Marxists came. Before the British took Malabar, before the Dutch Ascendancy, before Vasco da Gama arrived, before the Zamorins conquest of Calicut. Before three purple-robed Syrian bishops murdered by the Portuguese were found floating in the sea, with coiled sea serpents riding on their chests and oysters knotted in their tangled beards. It could be argued that it began long before Christianity arrived in a boat and seeped into Kerala like tea from a bag. That it really began in the days when the Love Laws were made. The laws that lay down who should be loved, and how. And how much. (1.207-210) This quote is full of what might seem like obscure references, but what its basically doing is pushing us to think about what caused everything to fall apart for Estha and Rahel. Did everything come crashing down because Sophie Mol came to Ayemenem? Or do the events of the novel happen as a result of decisions, actions, and rules that were made thousands of years before any of our characters were even born? Do things happen for a reason, because theyre part of this huge plan, or do they just happen because the world is fickle like that? [Estha] knew that if Ammu found out about what he had done with the Orangedrink Lemondrink Man, shed love him less as well. Very much less. He felt the shaming churning heaving turning sickness in his stomach. (4.245) We can be pretty sure that if Ammu ever found out that Estha was molested, she wouldnt be upset with him. Shed be unbelievably angry at the Orangedrink Lemondrink Man, but she would never actually blame Estha. Yet, in Esthas mind, what happened to him is his fault, and he carries it around as his shame Ammu touched her daughter gently. On her shoulder. And her touch meant Shhhh.Rahel looked around her and saw she was in a Play. But she had only a small part. She was just the landscape. A flower perhaps. Or a tree. A face in the crowd. A Townspeople. (8.48-50) This moment turns the way Rahel understands her role at home upside-down. All of a sudden, things are totally different than they usually are. Rahels realization that theyre in a play shows us that everyone here is playing a part to some extent – they arent being themselves. Sophie Mols arrival topples over Rahels reality; she goes from being one of the leads to being the nobody in the background. Now, all these years later, Rahel has a memory of waking up one night giggling at Esthas funny dream. She has other memories too that she has no right to have. She remembers, for instance (though she hadnt been there), what the Orangedrink Lemondrink Man did to Estha in Abhilash Talkies. She remembers the taste of the tomato sandwiches – Esthas sandwiches, that Estha ate – on the Madras Mail to Madras. (1.10-12) Rahels ability to remember things that happened to Estha and not her tells us a lot about their joint identity and how profoundly she understands him.

Intention of Life Interest

Intention of Life Interest 1. (a) The life interest of Parwinder which on the surface appears to be a vested, immediate and limited interest is coupled with a remainder interest for their daughters. In this instance, there is a problem with certainty of intention. Although technical words are not necessary,[1] problems arise when precatory words such as ‘in full confidence’ and ‘will respect’ are used in this provision. The wording of this provision is very similar to the wording of another provision featuring in Comiskey[2] which stated â€Å"in full confidence that †¦ at her death she will devise it†¦Ã¢â‚¬  between nieces as â€Å"she might see fit.† Therefore, following this judgment it is likely that the courts would construe from her words an intention to leave her estate to her husband with a gift over of the remaining property to be shared between her daughters according to his will and otherwise equally. However, if the court decides that intention cannot be derived from this provision, Parwinder will take the property beneficially and there is a resulting trust.[3] In this instance Parwinder will be appointed trustee of the estate thus, he can be compelled to carry out the trust. Should Parwinder become unable to allocate shares to his daughters the court will operate as trustee and distribute the estate if all certainties are found to be valid. If Parwinder is held to be a trustee, he must carry out the distribution of the estate as a trust is obligatory. Therefore, he must make a provision in his will allocating the distribution of the estate or else he must create an express trust making sure he includes valid certainties and follows the beneficiary principle inter vivos. This provision may also constitute a trust in conjunction with a power of appointment. According to Hanbury Martin, when a husband gives his estate to his â€Å"widow for her life, and after her death to their children† but allows the wife to decide the shares for each child it is a valid power to â€Å"appoint using her absolute discretion with a gift in default of equal shares â€Å"[4] Therefore, a special power exists whereby Parwinder must distribute the estate to a specified group of appointees[5] however, he is under no obligation to carry out his duty or even consider it as an obligation.[6] (b) Firstly, this provision may fail for lack of certainty of subject matter in that the size of each beneficial interest is not expressly declared.[7] However, the court may determine that the settlor has provided an effective method of determining the size of the gift therefore; the court will apply its assumption in order to prevent the gift from failing.[8] Should the courts be unable to determine any certainty of size of the beneficial interest the provision will become a resulting trust for the settlor’s estate. Assuming the share size may be determined by some means, it would appear that  £200,000 has been made over into a trust held by the trustees of the estate. However, the obligation to distribute the money to the first 100 applicants must be clarified as a discretionary trust or a power of appointment. According to Hanbury Martin it appears that the trustees who hold a trust for the benefit of â€Å"such members of a class of beneficiaries as the trustees shall in their absolute discretion select†[9], are in fact the trustees of a discretionary trust. The first requirement would then be to ascertain if there is certainty of objects using the test encouraged by the House of Lords, the Given Postulant Test.[10] The test requires the trustees to ask â€Å"Can it be said with certainty that any given individual is or is not a member of the class?†[11] Using this test it is valid to say that any postulant who has written in response to the advertisement in the Oxford Gazette and who have made a moral claim for a share will have to be considered a member of the class of beneficiaries. A slight problem arises if in response to the advertisement the following day 100+ letters are received making it impossible for the trustees to determine who the first 100 beneficiaries are as is clearly requested in the provision. This would result in administrative unworkability and the trust would become void and revert back to the settlor’s estate. (c) The wording of the provision would be construed to impose a fiduciary duty on the trustees and thus, produce an express trust. This is due to all certainties being very explicit and straightforward. Although Charles is in a coma and unlikely to recover, the trustees are still bound under the terms of the trust to distribute property to Charles according to the declaration of trust. Overall, the trustees are under a general duty to act even-handedly and â€Å"maintain equality between the beneficiaries†[12] especially in the context of successive interests. The trustees still maintain the legal title of the cars and Charles and the Oxford Motor Museum enjoy merely an equitable and beneficial interest. Therefore, it is possible for the Trustees to maintain the legal title to the cars and give the entire collection of cars to the Museum on trust as they will not automatically acquire the legal title to the cars. Should Charles die his equitable interest in one of the cars will succeed him and become part of his estate, however, if he were to recover he would still have an equitable interest in one of the cars which he could then take advantage of. Once he or a beneficiary of his estate has chosen a car the legal title of the car will be transferred to them through the appropriate procedure and the trustee’s duty to Charles will be fulfilled and the trust will end. The trustees will then hold the remaining cars on trust for the Museum. The final option available to the trustees is to make an application to the Court for Directions. As Charles is still living, he has an earnest claim on one of the vintage cars; therefore, if the trustees apply to the Court for direction and follow any subsequent directions of the court they will be protected.[13] This process has come into effect to allow difficulties in administration of the trust to be heard by the Court and alleviate the â€Å"risk of making decisions upon a false premise.†[14] 2. One of the main problems in the current law surrounding interests in the family home is in regards to the sometimes archaic nature of the law in respect to the more level field that man and woman now work and support themselves through their careers. Pettitt vPettitt[15] made clear that a women housework, childcare and contributions towards expenses do not equate to contribution towards the purchase price therefore, unless the wife demands the house to be conveyed to the spouses jointly, she may find she has no interest in the house upon dissolution of her marriage, however, the right to invoke discretionary powers of the court to distribute the property is still an option she has upon divorce. The main problem with the current law today is the lack of statutory power a court has when dealing with cohabiting couples who share a family home. Couples may often live together for years and have children and mutually contribute to the house via renovation, expenses and upkeep, however, often times the house is registered to one of the individuals only. However, a non-legal co-owner may have an equitable interest resulting in a constructive trust even where a direct financial contribution has not been made.[16] A constructive trust is another solution to this problem whereby the courts will consider contributions made to the mortgage payment by each party, refurbishment the house as this contributed to the maintenance and essential upkeep. This remedy comes into effect if one party has â€Å"acted to his detriment† in reliance on the assurance that he held a beneficial interest.[17] Lastly, and in most cases preferable is the remedy of proprietary estoppel or when the Courts â€Å"protect the expectations of the non-owner and may award the non-owner as much as a full ownership interest in the land if justice demands†[18]. The essential elements of proprietary estoppel exist where the legal owner of the property has encouraged a third party to believe that he has or will in the future obtain rights in respect of the property and the third party has acted in reliance of this assurance to his detriment.[19] This is the most just remedy available as it will consider mere oral declarations such as â€Å"the house is as much yours as mine† or â€Å"we share everything 50-50† as an assurance and the non-legal owner is likely to be granted an equitable interest in the property upon dissolution of the family home based on the amount of contribution made over the years of communal living. BIBLIOGRAPHY PEARCE, R AND STEVENS, J. (2002) The Law of Trusts and Equitable Obligations 3rd Edition London: LexisNexis Butterworth’s Tolley. PENNER, J.E. (2001) Mozley and Whitley’s Law Dictionary 12th Edition London: Butterworths. MARTIN, J.E. (2001) Hanbury Martin Modern Equity 16th Edition London: Sweet Maxwell Ltd. Footnotes [1] Paul v Constance [1977] 1 W.L.R. 527 [2] Comiskey v Bowring-Hanbury [1905] A.C. 84 [3] Watson v. Holland [1985] 1 All E.R. 290. [4] Martin (2001) page 173. [5] Re Gestetner [1953] Ch. 672. [6] Martin (2001) page 174 [7] Boyce v Boyce (1849) 16 Sim 476. [8] Re Golay [1965] 1 W.L.R. 969 [9] Martin (2001) page 175. [10] Re Gulbenkien’s Settlements [1970] AC 508 [11] Ibid per Lord Wilberforce [1971] AC 424 at pages 454-6. [12] Martin (2001) page 553. [13] Re Londonderry’s Settlement [1965] Ch. 918. [14] Martin (2001) page 550. [15] [1970] AC 777. [16] Lloyds Bank v Rossett [1991] 1 AC 107. [17] Ibid at page 536. [18] Penner (2001), page 281. [19] Gillies v Keogh [1989] 2 NZLR 327 at page 346 per Richardson J.