Logistics: An Introduction to Supply Chain Management Essay

Introduction Transportation is a major development that should be faced well by the society today. It could be observed that this particular section of innovation in the society has actually assisted the entire process of globalization to actually take place within this era of human development.   Undeniably, the development of transport has also increased the capability of the individual merchants in the field of commercial industry to make trade with the others in the global market thus giving them the chance to introduce their products and services to neighboring countries thus increases their chances of gaining higher level of profit from the international market. This is the reason why Ballou actually tried to focus on how much the said face of technological innovation actually affected the lives of the human society today. Consequently though, through his reading, he was able to have a fine understanding and presentation as well that would actually make it easier for the readers to understand the major effects of the process within the lifestyle and the development of the individuals in the society. In his discussion with regards the matter, Ballou points out the major role that transportation plays in the process of global advancement, especially in terms of commercial connections between countries around the world. He points out that one of the major changes that transportation undergoes is the ability of the current system of transport to handle highly technological issues and applications that are embedded within the program of transport to perform better and far more efficient than it did in the past. How much impacting is this report for the current society? Several contents of the book shall give a brief overview of the matter thus assisting in making the process much acceptable for the highly technologically driven society that it caters to today. Content and Summary   Ã‚  Ã‚  Ã‚   The book of Ballou as noted earlier is highly involved with the understanding of the necessary things needed to be given attention in clarifying the systems application as it particularly affects the present trend of economic advancement in the society today. Constantly, movies and other programs today have actually wanted to feature the different kinds of transportation advancements within the global community of the human society today, showing how much beneficial the said inventions are to the lives of the people as compared to the lives of humans before.   Ã‚  Ã‚  Ã‚   The reality however behind the said advancement is not simply dependent on the design and the development of the systems used within the said transport machines. Instead, it is through the application of the systems of information technology that transportation operations today are actually taking into fine consideration for regular operational reasons.   Ã‚  Ã‚  Ã‚   In further discussion of the matter, Ballou intended to utilize several actual implications of the system to actually attest to the fact that IT contributes much within the system. In different television programs, the efficiency of both air, land and water-based transportation today actually helps in the process of sending messages and handling security issues for client satisfaction purposes are shown particularly useful for the whole human community.   Ã‚  Ã‚  Ã‚   The benefits of highly developed transportation are obviously seen through the developments of the trading businesses around the world. With the use of information technology, the constancy of the arranged schedules of routes that transport vehicles are to take for the sake of on-time delivery purposes become highly organized thus reaching the time-standards of several trading businesses and organizations around the world today. The utilization of logistics systems integrated within the mechanical systems of the transport operations likely increase the competency of the whole system in handling the different responsibilities that are expected for the transport systems to complete. Seeing this particular benefit actually increases the competency of the system to handle further higher responsibilities that are to be placed upon its reliability in the future.   Ã‚  Ã‚  Ã‚   This time though, the developers of the system are rather making better amends in furthering the operation of the transport systems around the world. Focusing on the capability of the industrialized countries to handle the suggested developments, the researches and studies are still being pursued to at least increase the competency of the programs that are to be further integrated within the transport systems. Once the developing changes are applied, the operation of transport around the world are expected to become much beneficial thus much appropriate for the sake of those who are highly affected by the said technological improvement. Reactions and Overviews   Ã‚  Ã‚  Ã‚   As noted earlier, the author used authorized sources to support the claims that he further presented in his book. It is through this that he has been able to validate the different issues that he further presented and raised within the context of his writing. At the verge of understanding the specific details that actually increase the competency of the said system, it is highly observed that the author tried his best to present the issues that are involved in the transport operation that particularly affect the lives of the human society directly. The lives of the people around the world are obviously being assisted in becoming highly civilized through the application of transport operations in the system. Overall View of the Reading   Ã‚  Ã‚  Ã‚   It is through this report that it has been clarified how the author tried to clarify the issues with regards transport development that includes the regular dealings of the human society today. For the sake of fast development and wide globalization application in the international trade systems, the development of transportation has actually been noted by the experts of commercial advancement as the primary source of further coalition of the systems for the sake of global advancement.   Ã‚  Ã‚  Ã‚   It could be noted that this is a major reading that could help in the process of improving the lives of the people in the society. Understanding this particular writing is actually a fine description of the matter that increases the competency of the system that could assist in the progress of the world in improving the globalization systems.   Ã‚  Ã‚  Ã‚   With the utilization of fine transportation, the development of the different countries around the world is sure to boost thus giving chance to every nation to find a way with which they are able to expand their options in extending their chances for the sake of total globalization. The constancy of the system as required by the new trend of development in the human society as per assessed through the advancements needed for the pursuance of globalization. Reference: Donald Waters. (2003). Logistics: An Introduction to Supply Chain Management. Palgrave Macmillan.

Case Analysis on Capital Structure Pioneer Petroleum Essay

Introduction: This landmark case seeks to break the risk-reward trade off involved in calculating Capital Cost. The object of the solution must be to minimize project risks while maximizing project opportunities available. We want a rate and a rating system that does not unnecessarily reject â€Å"the best available projects – i.e. highest net positive free cash-flows at that time.† Particularly in times of excess capacity, this will marginally contribute to increasing company wide yields, but will not necessarily match the company-wide yield imposed by investors. History of the Company and Background of the Case: Sometime in July 1991, one of the critical problems confronting management and the board of Pioneer Petroleum Corporation, hereinafter referred to as Pioneer, is about Capital Budgeting; specifically they needed to determine the Minimum Acceptable Rate of Return, or MARR, on new capital investments. Their capital budgeting approach was to accept all proposed investments with a positive net present value when cash-flows are discounted at such appropriate cost of capital. Formed in 1924 through mergers of several formerly independent firms operating in the oil refining, pipeline transportation, and industrial chemical fields, pioneer Pioneer did vertical, horizontal, and backward integrations into exploration and production of crude oil, marketing refined petroleum products, plastics, agricultural chemicals, and later diversified into real estate development. In 1985 Pioneer restructured further into hydrocarbon-based oil, gas, coal, and petrochemicals. Statement of the Problem: What rate or rating system will consider specific, inherent risks of divisions and operating sectors AND consider benefits ascribed to the single-rate Weighted Average Cost of Capital approach? How can we help Pioneer Petroleum make an objective, rational choice on the hurdle or cut-off rates for evaluation of new projects in a fully integrated conglomerate of multiple divisions; determine whether they should use the SINGLE company wide Weighted Average Cost of Capital, which reflect the rates at their face value to the company, OR proposed MULTIPLE Divisional Cost of Capital, which reflects risk-profit characteristics inherent in various divisions and operating sectors. Objectives/ Directions of the Solution 1) The decision must help the management and board of directors of Pioneer Petroleum decide on the fair and objective Hurdle Rate/s that will fairly qualify new investment projects of Pioneer Petroleum divisions 2) Whatever the recommendation ought to be consistent with facts of the case, and provide consonance, rather than inconsonance, with the efforts of both the division and central or corporate management to execute strategy, leverage on strengths, and empower the company to make investments to gain and sustain competitive advantage. 3) The recommended project rate and rating system must be simple, objective and fair. 4) It must consider specific, inherent risks of divisions and operating sectors 5) It must also address the interest of stockholders to maximize return on their equity or investments. Case Facts and Assumptions: 1) It is the Policy of the board to balance the source of funds, or to keep the funded debt and equity ratio at 50:50 . Debt and Equity financial ratios are: a. D-E ratio for refining is 1.5:1, b. D-E for the exploration is 0.8:1. 2) The Income Tax Rate is given at 34%. 3) Revenue is $15.6 billion 4) Net income $1.5 billion. 5) It is given that dividends increased by 10% in 1990 and 1991, and therefore we will assume to use the higher target equity yields of 2.7 (add the 10%), rather than 2.45 the actual yield of 1989. 6) The company’s Corporate Debt was A-rated; this means it is deemed to carry much low risk than the general investing or borrowing public. 7) Capital Expenditure budget are enormous, $3.1 billion in 1990 and $4.5 billion in 1991, underscoring the significance of appropriate and accurate weights and calculations for Cost of Capital. Strengths and Opportunities. Pioneer was one of the primary producers of Alaskan Crude. The company’s gasoline are among the cleanest burning fuels. By 1990, total revenues exceeded $15.6 Billion and net income over $1.5 Billion. Pioneer supplied its own raw material for domestic petroleum liquids production and was also one of the most cost-efficient refiners of the West Coast and had an extensive West Cost presence. The company has clean, efficient running plants positioned to meet strict environmental guidelines capitalize on less polluted products. Capital expenditure investments ran at $3.1 Billion, with forecasted expenditures of almost $4.5 Billion in 1991. Pioneer was also heavily invested in Environmental projects. Its chemical unit produced 1/3 of the world’s supply of methyl tertiary butyl ether, MTBE, an ingredient making its gasoline one of the cleanest burning in the industry. The MTBE market had been growing with the global trends towards sustained development of the environment. Refining its cost of capital calculations will not only preserve its much-needed capital, but it also unlocks new capital — and maximizes existing capital — to capitalize on such huge opportunities, particularly the passing of the 1990 Clean Air Act with which came tremendous area in which Pioneer might capitalize on its eco-strengths. Weaknesses and Threats: To meet Pioneer expected to invest $3 Billion additional to meet the new law’s standards among other new environmental regulations. Its multinational status makes it vulnerable to foreign currency exchange risks, political risks, interest rate volatility, cultural risks, and transfer pricing and other transnational risks involving a complex network of sources, sinks and of moneys, products and services. Its fully integrated set-up requires spreads itself quite thinly, and requires seamless transnational collaboration and cross-border coordination to work. Management wanted synergy among global divisions to optimize overall performance, and obviously to decrease these complex risks. Methodology: The weighted cost of capital approach is applied, first apportioned pro rata based the usual cost of the fund source: i.e. debt and/or equity. The cost of debt would be prevailing interest rates, and the cost of equity would be â€Å"foregone† earnings on capital invested as equity – i.e. earnings per share over market value per share. The second approach is similar, but with multiple cutoff rates. First it is broken down by Divisional Cost of Capital – i.e. calculated using a weighted average cost of capital approach, but this time for each division or operating sector; before further drilling down by cost per fund source. Calculations would follow three (3) steps: a) First an estimate would be made of the usual capital structure, or debt to equity proportions, of independently financed firms operating in each sector. b) Given these proportions by sector, for each operating sector, the costs of capital – divisional debt and equity – would then be estimated in accordance with the concepts followed by the company in estimating its own cost of capital. This means Divisions are to use the WACC rules followed by the company, in estimating its own Weighted Average Cost of Capital. To describe this approach in a financial function: The Weighted Average Cost of Capital = WACC = sum of Divisional costs of capital = Sum total of [Divisional Costs of Debt plus Divisional Costs of Equity]3 Decision Alternatives for Selection of Marginally Attractive Rates of Return: Management and the board are choosing between two alternative approaches: 1) The Single WACC Rate, company-wide Weighted Cost of Capital approach, where specific rates weighted were those based on the sources of fund, debt and equity, in estimated proportion of future funds sourced; AND 2) Multiple Cut-off or Multiple Hurdle Rates for Divisional Costs of capital, involving determining the rates or weighted costs of capital for each main Operating Sector. 3) Hybrid or Combination thereof – taking the positive aspects or advantages of both methods; i.e. for example, the requirements of stockholders for return on equity on the one hand, AND the requirements of divisions or operating sectors to address specific local risks, and implications on local incentives. Case Analysis and Discussion. The two alternative approaches â€Å"purpose and benefits† are culled from the case, as follows: 1) The single, company-wide Weighted Cost of Capital approach, where specific rates weighted were those based on the sources of fund, debt and equity, in estimated proportion of future funds sourced; this gave a WACC rate of 9.0%. Proponents of the single rate might argue as follows: a. It is far simpler to calculate. b. It covers the actual rate or â€Å"cost of the source of funds† at face value of bonds or notes payable, or statements of stock or equity; c. It appears to be more conservative than divisional rates because it does not consider economies of scale of fully integrated conglomerates that benefit the divisions or subsidiaries in ways that not reflected in the divisional costs of capital or rates. d. The problem or effect of such diversification benefits on the rate is that Divisional Rates calculated independently, may be considered lower – in reality. Why charge sunk costs, one might ask to the division. The problem here is that the hurdle rate may be too high for many â€Å"projects,† and therefore unduly rejected; when in fact they ought to be accepted. IF they are accepted by competitors with similar integration benefits, perhaps, they will benefit from marginal income and grab this benefit from Pioneer’s subsidiaries. e. Pioneer’s shareholders expected the company to invest funds in the highest return projects available. f. Proponents of the single corporate rate argued that those advocating multiple rates were those who were not able to compete effectively for new funds, when measured against the corporate group’s â€Å"actual cost of capital.† g. Single-proponent advocates lacked confidence in the fairness and integrity of the process of selection of divisional rates. For example, the transport division had â€Å"unrealistically low hurdle rates† considering experience in tanker investments had been â€Å"disastrous for many companies.† There were also still some areas of ambiguity, such as how to treat environmental projects (or for this matter, central HQ projects over which Divisions have little or no control). h. Another concern was how the benefits of full integration – acquired through very costly mergers and acquisitions — would be considered in divisional rates. IF divisions lowered their rates, this might not be enough to cover central requirements. i. Reduced risk, economies of scale and other diversification premiums — remained unaccounted for in the proposed divisional costs of capital approach. There were considerably less risks for instance in subsidiaries of an integrated firm like Pioneer, than for independent petroleum dealers or non-members of the group. This being the case, was it fair to demand such a high hurdle rate given that the risks were much lower at some divisions than others? 2) Multiple Cut-off or Multiple Hurdle Rates for Divisional Costs of capital, involving determining the rates or weighted costs of capital for each main Operating Sector. The divisional rate approach seems far more complex, but proponents of divisional costs of capital argued included the following purposes and advantages of this scheme: a. The proponents of multiple divisional hurdle rates argued that a single companywide cost of capital (WACC) â€Å"subsidized the higher-risk divisions† at the expense of lower risk divisions. b. Because the cost of capital was too high for the low-risk divisions, too few low-risk investments were made. c. On the other hand, in the high-risk divisions too much investment occurred because the hurdle rate was too low. As evidence, proponents of multiple rates noted that Pioneer was the only major company that continued to invest heavily in exploration and development, and that it lagged behind its competitors in marketing and transportation inv estment. d. The divisional rates approach – there was nothing new in the calculations – except that sector rates would reflect the risks inherent in each of the operating sectors of the conglomerate. e. Evaluation of future capital expenditure or investments in each of the main operating areas of the company would be appraised pro rata based on the appropriate rate of return for that industry sector; f. For evaluation of actual financial performance — say, for incentives and bonuses — multiple cutoff rates would fairly represent the rates charged to each of the various profit centers for capital they employed or â€Å"borrowed from headquarters† so to speak; g. The proponents for multiple divisional hurdle rates also argued that the companywide cost of capital was too low, and that investments should be required to earn at least as much as an investment in common stocks. The average return since 1980 on the S&P index of common stocks of 16.25% substantially exceeded the 9% companywide cost of capital (see Exhibit 2). If Pioneer was serious about competing over the long run in industries with such disparate risk-profit characteristics, it was absolutely essential to relate internal target rates of return to the individual businesses. It was argued by proponents of the multiple divisional cutoff rates that for subsidiaries and sister firms of integrated firms like Pioneer, the inter-company-benefits mitigated the risks involved with large refinery investments. Thus in some cases rates lower than companywide rates of return were justified. There was a â€Å"diversification premium† which ought to be allocated back or deducted from the subsidiary discount rates, as calculated previously in proportion to the relation between the investment in each subsidiary and, say, the company’s total asset. Formula used for Weighted average cost of capital is WACC = K(d) + K(e) = Kd(1-t)*DEd + Ke*DEe Pioneer’s original calculations for WACC are summarized as follows From Exhibit 1 The case mentions however, that the interest used is a coupon of 12%, assuming it retains an A rating, and a 34% tax rate, this represented a 7.92% cost after tax. According to Investopedia, coupon is defined as the interest rate stated on a bond when it’s issued. The coupon is typically paid semiannually. This is also referred to as the â€Å"coupon rate† or â€Å"coupon percent rate†. The divisional cost of capital would then be calculated using a WACC approach for each Operating sector; i.e. as though each sector were an independent company competing in its own industry -Note that the same WACC formula above is used to estimate divisional cost of capital, except it is not company wide, WACC rates in specific operating sectors such as business.. The divisional perspective overlooked that each business was also part of an integrated company with â€Å"risk diversification benefits,† economies of scale and other integration benefits, say of a large refinery. The case pointed out the weakness of a single-rate policy. On the one hand, very few low risk investments were made, precisely because of the high rate of return on investment required by the pre-assessment. The hurdle rate was too steep for â€Å"low risk divisions.† Too few passed the gauntlet, so to speak. On the other hand, too much money was invested in high-risk divisions, because the hurdle rate on those operating sectors, was too low. Some members of top management felt that Company-wide cost of capital rates was too low, and investments should be required to earn at least as much as Common stocks – or over 14%. A couple of corrections need to be suggested on the single rate WACC of Pioneer. WACC = Kd + Ke Cost of equity, Ke. Note that â€Å"after prolonged debate,† Pioneer (management and board) decided to use 10%, which was the equivalent of $6.15 Earnings per Share divided by $63 Market Price per share. Using current earnings yield of their stock as the cost of both new equity stock and retained earnings.† In other words the 10% used was based on â€Å"actual† dividend yield and not the â€Å"projected† or the â€Å"required rate of return† for the company’s stock. Given a dividend growth rate of 10%, a share Market Price of $63, the next target dividend at $2.70 ( = $2.45 plus 10%), and the ratio of Equity to Debt at 50:50, then the cost of equity is therefore calculated as follows: Cost of equity: Ke = ((Target Dividend Value/Market Price)+Growth in dividends)*DEe = ((2.70/63) + 0.1)*(50%) = 14.3%. Cost of debt, Kd It seems the actual interest rate afforded Pioneer was not actually given in the case. What was used by management was the 12% coupon rate on bonds. Since Pioneer was an â€Å"A-rated† client, or deemed to carry very â€Å"low risk,† then this status ought to translate into a significantly lower cost of money or interest rate. To my understanding, a coupon rate would be like the hotel â€Å"rack rate† which would be much higher than what an A-rated client like Pioneer would be accommodated with. Let us assume a prime interest rate of 9%. Allow me to note that this assumption is just for the case exercise, but such information ought to be readily be available in the real world. The cost of debt is therefore: Cost of debt: Kd = Interest Rate * (1-Tax Rate) = 9% (1 – 34%) = 5.94%. Due to the 50-50 debt to equity capital structure, the actual cost of debt is 2.65%. The WACC is summarized as follows: The new WACC is 10.12%, as against the 9% estimated by Pioneer management. This means that companywide, projects that show a rate of return lower than 10.12% will not be approved. This is somewhat double edged, because it might mean that some projects which are less viable, but viable nevertheless, will be unduly rejected. It is suggested that rather than rejecting let there be a cap set on investments, and more flexibility be given on rates of return – sometimes this may be subject to abuse and manipulation. There are other countless foretelling signs of project success of failure than just numbers. As shown in this case, the hurdle rate WACC may vary, depending on the assumptions; for instance, if the debt to equity proportion changes, then the 50:50 â€Å"policy† might be irrelevant. Conclusions and Recommendations: FLEXIBILITY CUTOFF Rate Stop Loss Limits Forecasting Understand Risks, but also Opportunities Best-selling author of â€Å"Rich Dad, Poor Dad,† Robert Kiyosaki wrote, â€Å"Risk is a function of Ignorance.† It is always risky if it is not clear or understood. Unless objectively determined based on facts, a single, companywide rate of return used for expediency’s sake, is just as risky as a multiple-cut divisional cost of capital rate, that supposedly considers local risks of specific divisions or operating sectors. Conclusion and Recommendation Capital Structure2 is the mix (or proportion) of a firm’s permanent long-term financing represented by debt, preferred stock, and common stock equity, greatly affected by specific costs of capital or assigned hurdle rates, say in assessing weighted average costs of capital. CORE ISSUE – Hurdle rates2 are measures of the cost of capital, combined debt and equity, which a company targets for its projects to achieve in the planning period. The hurdle rate’s significance cannot be over-emphasized. If it is set too highly, it may spell tremendous losses in opportunities, or rejection of perfectly viable projects. This can also cause demoralization on the part of division personnel, who are rated based on such high hurdle rates. This means it is more difficulty to achieve, and thereby affecting managers and employees’ performance appraisals, bonuses and incentives. On the other hand, if we set hurdle rates too low [ in the game of golf, we might call this practice â€Å"sand-bagging,† or reporting a higher, more forgiving handicap to increase chances of achieving it ], this would be a major disservice to investors who expect maximum returns on their investments. They expect integrity in leadership, fair stewardship and good governance on the part of the board and senior management whom they have elected to run company affairs in their behalf. One limitation of classical estimates on Hurdle rates or Costs of Capital is that (1) investment and asset management decisions are held constant and (2) they consider only debt-versus-equity financing, which are not necessarily the only sources of financing. Recommendation: HYBRID SINGLE-MULTIPLE HURDLE RATE The solution must address specific legitimate needs of the different players, specifically the Stockholders, the Division heads, and top Management. Stockholders require better total returns on equity, and proponents of the Single rate assume that â€Å"the only way to achieve better overall returns on equity is to set company wide hurdle rates or weighted average costs of capital. They actually are not as concerned as division heads are, that some divisions are subsidizing others. This is not a sustainable practice. Pretty soon the winners who subsidize the losers will not find enough incentive to perform, and eventually leave. Division heads will be split into to. Winners, or Performers, and Losers, or non-performers. Top management must listen to winners and ought to reward them, outrageously, if they are to keep performing for the long term. This means that for winner industries, the practice of attaining a â€Å"hurdle rate† which in players’ perception is â€Å"too low†Ã¢â‚¬ ¦ becomes a disincentive over time. On the other hand, in â€Å"non-performing† divisions, good players that find the â€Å"hurdle rates† too high, are totally disillusioned and demoralized when standards are lowered to accommodate them. On a wider scope, Pioneer Petroleum needs to find a fair way to â€Å"allocate central costs in accordance with responsibilities† and to determine â€Å"strategic and financial measures† – including, but not limited to the Cost of Capital – between the central or corporate headquarters and its divisions and subsidiaries. This leads to less inter-departmental and inter-company conflicts, and more cooperation and synergy, which are necessary to for any breakthroughs to happen, i.e. in the direction of better project execution, better decisions and a more positive working environment. The recommended solution may be described as follows. 1) The policy we recommend is simply: Company Wide WACC = Sum of Divisional WACCs = Sum of [ Local Costs of Debt plus Local Costs of Equity] 2) The 50:50 capital structure does not seem like a well founded â€Å"policy† and must be revisited. The objective must also include maximization of risks and returns, and not to literally â€Å"balance† debt to equity capital structure. 3) An evaluation and rating system must be set up to allow managers to think global, but to act local. This means we do a Hybrid system of Corporate-and-Divisional hurdle rates, maximizing the benefits of both, and ascribing responsibility for the rate, where it is rightfully assigned. For example, the division management is responsible for maximizing its return rate, given the resources it is allowed access to, and given the authority and responsibility in its portfolio. Division managers are not responsible for a â€Å"company-wide rate† just as much as it does not have any control over other companies, or over corporate financial, operating or marketing strategy. 4) The total company-wide Rates of Returns (e.g. 10-15%) on Inv estments or capital expenditure, are the responsibility of top management, and to achieve this, there are other ways, besides imposing this global rate on every single operating division or subsidiary. 5) A fair system of multiple hurdle rates ought to reflected the specific risk-profit idiosyncrasies of its business divisions and operating sectors in which the company’s subsidiaries operated. 6) Using multiple hurdle rates will actually combine the strengths of performers in both â€Å"winner† and â€Å"loser† industry divisions. Fact is, the latter are not actually â€Å"losers†; just lower yields but still positive yields, which might be descriptive of industry performance. The key hurdle rates to accommodate this, might therefore be industry-specific MARRs or WACCs. As mentioned, the rate or rating system must consider specific, inherent risks of divisions and operating sectors – and at the same time – consider benefits ascribed to the single-rate Weighted Average Cost of Capital approach. 7) Aside from just calculating a â€Å"fair† rate, as financial advisors, we must equip Pioneer Petroleum top management with a better designed, more objective and more rational (less emotional) rating system; to help them rationally choose the corporate-and-divisional hurdle rates for evaluation of new projects in a fully integrated conglomerate of multiple divisions; determine whether they should use the SINGLE company wide Weighted Average Cost of Capital, which reflect the rates at their face value to the company, OR proposed MULTIPLE Divisional Cost of Capital, which reflects risk-profit characteristics inherent in various divisions and operating sectors. 8) The above rating system will help the management and board of directors of Pioneer Petroleum decide – every year – on the fair and objective Hurdle Rate/s that will fairly qualify new investment projects of Pioneer Petroleum divisions. a. It considers specific, inherent risks of divisions and operating sectors b. It addresses the interest of stockholders to maximize return on their equity or investments, which is ultimately the responsibility of TOP corporate management. c. It still uses the familiar Weighted Average Cost of Capital approach in calculating both single-company wide HURDLE rate, and divisional YIELD and HURDLE rates. d. Finally the solution MAXIMIZES OPPORTUNITY available in that it does not unnecessarily reject â€Å"the best available net positive cashflow projects at that time† which contribute to increasing company wide yields, but do not necessarily match the company wide yield. I believe this solution is easy to execute. It clarifies what rates to use as hurdle rates to truly evaluate . The solution must be win-win and acceptable proponents of both single and multiple rates References: 1â€Å"Pioneer Petroleum Corporation,† Case on Divisional Cost of Capital. Copyright  © 1991 by the President and Fellows of Harvard College. Harvard Business School Case 292-011. 2â€Å"Capital Structure.† Chapter 17, Fundamentals of Financial Management, 12/e  © Pearson Education Limited 2004; Slides by: Gregory A. Kuhlemeyer, Ph.D., Carroll College, Waukesha, WI 3â€Å"Investors need a good WACC.† Bill McLure, Investopedia Contributor, www.investopedia.com, http://www.investopedia.com/articles/fundamental/03/061103.asp 4â€Å"Definition of Weighted Average Cost of Capital.† Bill McLure, Investopedia Contributor, http://www.investopedia.com/terms/w/wacc.asp 5â€Å"Which is a better measure for capital budgeting, IRR or NPV?† Rob Renaud, Spotting Profitability with ROCE. http://www.investopedia.com/ask/ViewFAQPrintable.aspx?url=%2fask%2fanswers%2f05%2firrvsnpvcapitalbudgeting.asp ‘Accounts Receivable and Inventory Management’ Chapter 10, Fundamentals of Financial Management, 12/e,  © Pearson Education Limited 2004, Slides Created by: Gregory A. Kuhlemeyer, Ph.D. Carroll College, Waukesha, WI ‘Debt and Stocks,’ Chapter 20, Fundamentals of Financial Management, 12/e,  © Pearson Education Limited 2004, Finance Decisions and Investments,  © 2012 Lecture Notes by Dean Atty Joe-Santos Bisquera, LLB, CPA, MBA, De La Salle University College of Business – Graduate School

Accountability in the Workforce

Each employee responsible for skillfully executing the assigned duties and intentionally ignoring the details necessary to achieve these objectives is responsible for their actions. Employee responsibility is an important requirement in order to make the project successful. The manager may be responsible for the sales team, but we believe that each salesperson is obligated to call customers, accept orders, confirm that all quotas are satisfied . Excellent manufacturing methods require a high level of transparency and accountability for workers. The bigger the organization, the more stable the dialogue between the labor force and the management team becomes increasingly important. This usually means that the report is a necessary condition for the growth of the business. Employees who work at the site tend to operate the company so strongly that they are aware of inconsistencies in the system. According to the US Bureau of Labor Statistics, the Millennial generation today accounts for 36% of the US labor force and will occupy 75% of the world's workforce by 2025. I think that employees in this group have actively communicated through countless social media sites. The use of social media is a workplace trend that will follow in the near future. As people enter the labor market and start a career it is important to understand the importance of social media in their lives. These future employees and leaders need to be accountable for their online behavior. Educators incorporating this course into the curriculum will help the students build a better, more successful future for them. Teachers can not stay anywhere. Monitor students' use of mobile devices and social media applications. One of the most important drawbacks that allows people to use these online platforms is the spread of bullying. According to the National Crime Prevention Committee, 43% of youth last year was a victim of this act. Accountability in the Workforce Each employee responsible for skillfully executing the assigned duties and intentionally ignoring the details necessary to achieve these objectives is responsible for their actions. Employee responsibility is an important requirement in order to make the project successful. The manager may be responsible for the sales team, but we believe that each salesperson is obligated to call customers, accept orders, confirm that all quotas are satisfied . Excellent manufacturing methods require a high level of transparency and accountability for workers. The bigger the organization, the more stable the dialogue between the labor force and the management team becomes increasingly important. This usually means that the report is a necessary condition for the growth of the business. Employees who work at the site tend to operate the company so strongly that they are aware of inconsistencies in the system. According to the US Bureau of Labor Statistics, the Millennial generation today accounts for 36% of the US labor force and will occupy 75% of the world's workforce by 2025. I think that employees in this group have actively communicated through countless social media sites. The use of social media is a workplace trend that will follow in the near future. As people enter the labor market and start a career it is important to understand the importance of social media in their lives. These future employees and leaders need to be accountable for their online behavior. Educators incorporating this course into the curriculum will help the students build a better, more successful future for them. Teachers can not stay anywhere. Monitor students' use of mobile devices and social media applications. One of the most important drawbacks that allows people to use these online platforms is the spread of bullying. According to the National Crime Prevention Committee, 43% of youth last year was a victim of this act.

Inmate Custody and Control in Correctional Facilities Essay

Inmate Custody and Control in Correctional Facilities - Essay Example The inmates and prison staff often confront with many challenges as well as threats to their safety. It is important to consider the essential aspects which can make inmate custody and control more effective. One of the main issues often observed in prisons is the paucity of healthy relationship between inmates and officers. To begin with, effective administrative measures offer better services to inmates and a peaceful ambiance in prison that would enhance the relationship between the inmates and officials to certain extent. Inmates usually belong to different cultural backgrounds with varying criminal intensity. This diversity itself may give rise to further disputes or violence within prison. Violence and indecent behavior within the institution could be reduced by initiating various disciplinary actions under strict supervision of responsible individuals. On the other hand, correctional officers and other concerned officials have to be given proper training to address the unexpected issues effectively through emergent strategies. As Barnhart (2006) reminds, training includes providing information regarding the planned strategies of the organization and various techniques to execute them successfully while maintaining of security and control in the prison. The physical layout of the facilities provided to inmates is an important matter of concern.

National Drug Control Strategy Structure Research Paper

National Drug Control Strategy Structure - Research Paper Example There is a need to re-evaluate the approach that is in use. In order to be able to deal with this problem, several issues have to be looked into. The most fundamental is the availability of treatment, stigma related issues and availability of financial recourses. Although treatment for addiction is available in many places, in the United States, challenges still exist when it comes to accessibility and quality of services rendered. It is disturbing to note that those charged with the responsibility of treating substance abuse and addiction often criticize others that do not use methods similar to theirs (Califano, 2007). It should be noted that people need to be treated using different approaches depending on their level of addiction (USDHHS, 2009). High-end treatment centers tend to look down on public programs. Nonresidential programs/outpatient looks down on residential programs terming them unnecessary, expensive rip off programs (Califano, 2007). Every treatment center wants its’ approach to treatment to be considered the best. This should not be the case. Encouraging such behavior deals a serious blow to the fight against drug addiction. It is also not encouraging to those addicts that are willing to come out and seek help. The perception that the quality of treatment is not the same at different treatment centers should be eradicated (Ortiz, 2011). Treatment should be available to all patients regardless of the approach they use in seeking treatment. Whether public, private, inpatient or outpatient, the goal should be to ensure that the addict gets assistance to become clean. The government should subsidize the cost for treatment of drug addiction as much as possible. Organizations such as the Drug-Free Communities which is a support program can be used as treatment centers besides implementing anti-drug abuse strategies (Kerlikowske, 2011).

Is empowerment a valuable tool for increasing efficiency and Essay - 3

Is empowerment a valuable tool for increasing efficiency and effectiveness in todays organisations - Essay Example The researcher states that in the context of organizational and industrial psychology, employee empowerment refers to the enhancement of employee involvement of autonomy with an aim to increase their ability to make decisions. This helps the organizations to achieve its interests and agenda with ease and effectiveness. It entails giving the employees the necessary guideline and tools to help them acquire autonomy in decision making. This empowerment entails the responsibility and accountability of the employees to make decisions within the acceptable parameters. This practice is then entrenched in the organizational culture. In modern organizations, an empowered and motivated workforce is seen as essential to the profitability of an organization. Employee empowerment has been found to increase workers commitment to the organizational policies and goals. Employee empowerment can be viewed from two perspectives: the psychological perspective and the empowerment climate which is known t o focus on the employee working environment. Psychological empowerment of employees focuses on the strength of the mental capacity of employees at the level of an individual. The empowerment climate tends to place emphasis on the employee working environment. The idea of using structures, practices, and employees in an organization to support employees was introduced by Scott and his friends. He argued that it is essential to create a conducive, working environment for employees for them to feel free to participate in the decision-making process and the goals of the organization. It refers to the work atmosphere and environment directly. According to Blanchard and Randolph, there are three principal practices that are associated with the working environment and the empowerment climate of employees. They include the team accountability, autonomy through boundaries and sharing of information. Organizational climate practices deal with individual behaviors and attitudes.

African American Studies-Introduction to the Art of Africa Essay - 1

African American Studies-Introduction to the Art of Africa - Essay Example The different forms signified different statuses of women in the society as well as their creative aspects. Young women who were being initiated into womanhood wore the masks in the initiation ceremonies (Foster 1). They showed that the young girls had courage and determination to take up female responsibilities in the society. After initiation, each girl would be given a unique mask made from the trunk of a cotton tree. The maker of the mask would only proceed to make the, mask for a girl after hearing screams from the girl undergoing the initiation process. There were specific requirements that the initiates had to fulfill while wearing the mask. They were not supposed to reveal any of their body parts. Failure to adhere would attract possession by the evil spirits. The cover clothing was supposed to be black in color. It is clear that the Sowei masks served the purposes of beautification and conduction of rituals. They were reserved for Sande and Bundu societies. They helped distinguish the Mende women from other tribes in the

DIAGEO Essay Example | Topics and Well Written Essays - 1000 words

DIAGEO - Essay Example 8,090. The operating profit of the company was ?2,443 million during FY2009, an increase of 3.1% over FY2008. The net profit was ?1,621 million in FY2009, an increase of 2.1% over FY2008 (Diageo - Annual Report, 2009). Diageo was created in 1997 as a result of the merger of Guinness and GrandMet (Diageo - Our History, 2011). Diageo rapidly expanded in next few years through both organic and acquisition channels. In 2001, Diageo also acquired the spirits and wine business of Seagram. In 2004, the company acquired Ursus Vodka. In 2005, Chalone Wine Group was acquired. Later, the company also acquired Bushmills Irish whiskey which included Bushmills' Distillery, which is amongst the oldest licensed distillery in the world. In 2006, the company made its first acquisition in China. The company bought a 43% stake in Sichuan Chengdu Quanxing, parent of Swellfun (Diageo - Our History, 2011). In January 2007, Diageo Asia Pacific was created to target a new geographic location. January 2007 ma rked the trial of new Guinness Red brand in 142 pubs in Great Britain. In February 2007, Diageo invested ?100million in expansion of its Scotch whisky operations in Scotland, in order to meet its future demand. In April 2007, as a part of brand extension, the company launched Johnnie Walker Blue Label and King George V Edition in duty free channels of Europe, the Americas & the Middle East. As a part of its global innovation strategy, the company made minor investment in Nuvo (brand), a new ultra-premium effervescent blend of fine French vodka, French sparkling wine, and exotic fruit nectar created by LLC (Diageo - Our History, 2011). In May 2007, the North American division of the company launched Smirnoff Source, a new premium malt beverage that combines pure spring water with alcohol. In Oct 2007, Diageo announced strategic alliance between Sean 'Diddy' Combs and Ciroc vodka. Under the terms of the deal, Combs and Sean Combs Enterprises took the lead on all brand management decis ions for Ciroc, while sharing in the future profits of the growth of the brand. In November 2007, Diageo invested ?5 million in J&B brand's package redesign to give it a more contemporary look. The new pack highlighted the brand's role as the ultimate party whisky with a design to party goers (Diageo - Our History, 2011). Diageo acquired Rosenblum Cellars in early 2008. In February 2008, Diageo and the Nolet Family formed a 50/50 company which owns the perpetual exclusive rights to sell market and distribute Ketel One Vodka (Diageo - Our History, 2011). In March 2008, Diageo, Heineken and Namibia Breweries reached agreement to form a new joint venture for their combined beer, cider and ready-to-drink (RTD) businesses in South Africa. In May 2008, Diageo reached an agreement to buy all the Constellation Brands' distillery and bottling facility at Valleyfield, Quebec, Canada. In the same month, Diageo made a capital investment of E650 million in a new brewing centre in Ireland to supp ort the growth and development of its global beer business (Diageo - Our History, 2011). Diageo also underwent a brief period of divestment, like that in 2003, which resulted into the selling of its Czech division, Diageo Ceska Republika, to Global Spirits. It also shut down its marketing subsidiary Nightfly (Diageo - Our History, 2011). SWOT ANALYSIS OF DIAGEO Strengths Weakness Wide range of Products Continuously Declining margins Market Leader    Opportunities Threats Ever growing presence in Asia-Pacific region Litigations

Compare and Contrast Paper. 21 Jump Street Essay

Compare and Contrast Paper. 21 Jump Street - Essay Example Drug intake, committing illegal actions, pretending as prostitutes, lovers and gang members is a common practice of undercover police officers to maintain their cover. Simultaneously, many at times such drug usage, addictions and other illicit habits (to maintain their cover) ruin personal lives and relationships of these officers and they consider them self exempt of law/ accountability due to their undercover assignments (274, Pollock). A chase on the freeway by the motor cycle gang from the park led Jenko and Schmdit to destroy public property on the freeway and threatening lives of several citizens in it as well. However, in real life these undercover agents are not allowed to destroy public property to large extent like displayed in the movie and jeopardize the lives of innocent citizens to secure their cover. The argument on Schmdit’s hesitation to open fire upon the gang member is a question mark, as undercover agents are employed to bring information instead of fighting the culprits them self. These informants are mainly installed to gain extensive knowledge of the drug mafia and by no means required to kill the dealers or their agents on their own (Lee,

Laundry service Industry Essay Example for Free

Laundry service Industry Essay India has a huge market for laundry business which is yet to be tapped to its potential. However, with the coming up of a number of hospitals hotels and even the Indian Railways turning to outsourcing of laundry activities, the industrial laundry sector in India is attracting foreign players. The hotel industry is witnessing a growing trend towards outsourcing its laundry. India is expected to add another 90,000 hotel rooms over the next five years, all of which are in the private sector, especially to meet the tourism demand. In 2010, 10 million people are expected to visit India. The Indian Railways run approximately 12,000 trains every day. The capacity is to carry 1. 4 Crore passengers/day. It employs around 17 lakh employees (10 lakh in Group C), including 10,000 officers. This presents a huge benefit to global players to quickly set up their laundries in India, and cater to the ever growing market. The healthcare industry, the upcoming and the existing, has started outsourcing laundry services. This sector which has been registering a growth of 9. 3% per annum between 2000 and 2009 is projected to grow by 15% per annum by 2013. Laundry services in India are classified into Industrial Laundry and Retail Laundry. Industrial laundry is in its infant stage with major demand coming from hospitals and hotels which have their in-house laundry. Retail laundry is a much organised market with some professionally managed companies catering to the retail needs. Overall, the laundry market in India is still untapped and unorganised. Industrial laundries generally require heavy capital investment in machinery and equipment for washing, spinning, ironing drying besides land and property to set-up a laundry. Since laundry market in India is dominated by the small local laundry stores and local dhobis, they are not equipped to handle the huge capital requirement. Equipment for industrial laundry An industrial laundry would require equipment for: Washing Drying Ironing * The type of equipment to be purchased would be depend on the volumes that the laundry expects from potential clientele on a daily basis. Equipment for industrial laundries are available in different sizes with varying capacities. Equipment are available in the market for small, medium as well as large industrial laundries. Equipment for industrial laundries should optimise the washing system considering criteria such as: * Usage of appropriate washing machinery which would guarantee maximum efficiency with appropriate wash cycles, high spin capacity and minimum energy consumption * Drier equipment should assure proper drying in the least amount of time with minimum energy consumption * Flatwork ironers capable of absorbing the production of the driers to assure a high quality press * Automation of the laundry handling processes in order to save personnel costs and increase productivity Stages in industrial laundry An industrial laundry generally involves five stages namely: * Soiled Retrieval The linen collected usually is dropped down a laundry chute. Laundry workers collect the soiled linen, in reserved carts and transport it to the laundry facility. * Soil Sorting The retrieved linen is unloaded and sorted. Different items often require different washing formulas. Heavy or bio hazardous stains such as blood and faeces may require longer wash times and stronger formulas. Large institutions often use a production-line method for soil sorting, with several full-time employees assigned to the task. Since soiled linen may be contaminated with biohazards or sharp objects, employees involved in the sorting process are required to use personal protective equipment and standard safety precautions. * Washing The sorted linen is weighed according to the washing machine’s load limit. Certified washer operator loads and unloads the large washing machines, decides what is to be washed according to the laundry’s schedule and monitors the chemical levels in the water. Since modern tunnel washers monitor their own chemical levels and unload linen directly into the laundry’s clean area, the operator is required only to load the linen. Over the past 20 years, many industrial laundries have switched from conventional washers to tunnel washers, also called continuous-batch washers. Since tunnel washers don’t have to be stopped for loading and unloading of linen, they provide a more continuous flow of clean laundry. Higher-volume facilities which may process over 15,000kg of linen per day often rely heavily on tunnel washers * Processing The clean linen is dried, ironed and folded. Some items, such as towels and blankets, are put through a dryer until they are no longer damp, then sent to mechanical folders. Wet work items, such as sheets, are sent through steam-powered ironers which dry, press and fold them. Ironers use heavy steam-heated rollers to dry the linen while pressing out wrinkles. Some items, such as wash cloths, may be too small to be handled mechanically. These items must be packaged by hand. * Packaging Distribution The processed linen is prepared for delivery. Individual orders are filled, based on the needs and requests of the laundry’s customers and sent to the laundry’s main distribution points and storage areas. Linen not used for orders is placed in storage areas, giving the facility a reserve of clean laundry. Trained delivery people transport the clean linen back to the customers. This is a skilled position, since the delivery person must have a thorough knowledge of both laundry operation and the principles of good customer service. In hospitals, delivery people must be familiar with patient relations, confidentiality policies. Large institutions will usually employ several full-time delivery people. Eco-friendly Chemicals Halide Chemicals has launched a new range of eco-friendly laundry chemicals. The complete professional range consists of 10 products in powder and liquid formulations. The Laundro Det and Boost-E is a powder detergent and booster; Laundro Mulse-E is a liquid emulsifier for FB laundry; Laundro Bleach-O s a powder oxygen bleach for coloured and whites; Laundro Rinse is a liquid organic neutralising rinse; Laundro Complete is a powder all-in-one detergent and oxygen bleach for coloured and whites; Laundrokleen is a liquid all-in-one detergent for guest and domestic laundry; Laundro Soft is a liquid softener for towels and linen; Laundro Soft-N is a liquid 2-in-1 neutraliser and softener for towels and linen; Laundro Chlor-10 is a liquid chlorine bleach 10% for white linen and Laundro Rinse-C is a liquid neutralizing rinse after chlorine bleaching. The range is phosphate free. The base detergent is free from slurry based detergents and made from biodegradable surfactants. Haylide has used organic biodegradable acids in rinses softeners in place of harmful, inorganic and traditional laundry rinses. The oxygen bleaches and all-in-one single shot formulations reduce cycles of bleach and rinse. The softener range with combination of cationic water soluble silicones provide softest results. The emulsifier for FB stains is biodegradable and utilises denatured ethanol in place of IPA as a natural solvent.

Symptoms Of Disorganized Schizophrenia Psychology Essay

Symptoms Of Disorganized Schizophrenia Psychology Essay Schizophrenia  is a severe mental disorder characterized by delusions, hallucinations and physical agitation; which typically causes such patients to severely misjudge the distinction between reality and their imagination. Schizophrenias prevalence in the world was highlighted as 26th in the list of diseases, ranked according to their contribution to their overall burden to society as a whole according to a study done by Murray and Lopez, 1996. For example, it is estimated to have cost the NHS an outstanding  £4.7 billion in the UK during 2004/05 [25]. In addition in this essay I will discuss a range of elements, from what factors increase the susceptibility of inducing schizophrenia and the current treatments on offer that will help alleviate common symptoms. The disease itself has a broad influence on several other prominent factors, involving both the individuals themselves but also the global community, which will be later discussed, in regards to their social and economic co ntext. Schizophrenia is such an enormous problem since no permanent cure currently exists. Types of schizophrenia There are 3 specific classes of schizophrenia [2]: Paranoid schizophrenia Disorganized schizophrenia Catatonic schizophrenia Symptoms of paranoid schizophrenia The dominant feature of paranoid schizophrenia is excessive suspicion and delusions of being oppressed. Symptoms of disorganized schizophrenia Disorganized schizophrenia usually becomes visible at an earlier age in comparison to the other types of schizophrenia. Individuals with disorganized schizophrenia struggle with the responsibility of supporting themselves. Therefore may be incapable of fulfilling basics needs, for example, being able to feed themselves. The following includes additional symptoms of disorganized schizophrenia: Weakened ability to communicate Slurred speech Immature behaviour Expression of inappropriate feelings, in the wrong situation. Symptoms of catatonic schizophrenia The interference in movement summaries catatonic schizophrenia: This can either be a decline in motor neuron activity (stupor state) or a rise in motor neuron activity (excited state). Stuporous (a  state  of unresponsiveness) motor signs. Sudden stoppage of all intentional movement and dialogue. Excited motor signs.  Occasionally, schizophrenics may drastically change from a state of stupor to a state of extreme exhilaration. Throughout this hyperactive phase, they may illustrate rapid speech or uncontrollable movement and even act out in violence, either self-inflicting or to someone else Example of the Symptoms of Schizophrenia [6] The following summarises common symptoms that arise in schizophrenics: Hallucinations Sudden changes in behaviour Depression Delusions Loss of insight What causes schizophrenia? The cause for schizophrenia has been the subject of vigorous debate, with numerous elements being proposed, discounted or amended. In contrary to this, it has to this day not yet been diagnosed by scientists to be solely induced by one particular factor. It is however thought to be a result of a combination of elements, which differ in every patient. Recent studies have suggested that the following have been significant contributors consisting of a complex interaction between genetic and environmental factors, for example, prenatal development, genetics, psychology and neurobiology. [3] Genetic causes of schizophrenia Schizophrenia has a strong hereditary component which is shown to run in families, but no individual gene is accountable. It has been said that a combination of genes pose the potential to make people more susceptible to the disorder. In addition, people genetically predisposed to the condition have not always illustrated its symptoms, meaning that the biology of it will not guarantee having the condition. Studies imply that genes account for half (estimate) the risk of developing schizophrenia. Individuals with a parent or sibling who suffers from schizophrenia have a 10% chance of developing the illness, in comparison to the 1% chance of the general population. Identical twins who have precisely the same genetic make-up as one another, if one of the two siblings has schizophrenia, their twin has a 48% probability of developing it too. For example, Gottesman (1991) obtained data from the Maudsley twin register and then examined the records of 40 schizophrenics studies between 1948 and 1964.  Through statistical analysis he determined that 48% of the twins who were monozygotic (identical developed from one oocyte) happened to be concordant (when both have or both lack a given trait) and for dizygotic (not identical developed from two oocyte) only 16%.   This further demonstrates that schizophrenia is not solely genetic; otherwise the concordance for MZ twins would be 100%. Provided below is a table illustrating additional information regarding the risk of developing schizophrenia for different individuals [4]. Relatives with schizophrenia Chance of developing schizophrenia None 1 in 100 1 parent 1 in 10 1 identical twin (same genetic make-up) 1 in 2 1 non-identical twin (different genetic make-up) 1 in 80 Table 1: This table illustrates the risk of individuals developing schizophrenia if someone in their family has been diagnosed. Environmental causes of schizophrenia As discussed previously inherited genes make an individual greater exposed to schizophrenia and moreover environmental factors can too then act on this vulnerability to trigger the condition. In regards to the environmental aspects involved, on-going research is indicating the contribution of stress, either throughout pregnancy or at a further phase of life. High levels of stress activate schizophrenia by increasing the bodys manufacture of the steroid hormone cortisol. Cortisol normally controls the bodies fight or flight response, although long-term exposure can damage and reduce the number of nerve cells in the hippocampus, the brains primary memory centre. As a result theres a decline in the transmission of nerve impulses for memory recall, this damage results in memory loss and impaired learning, features associated with the mental disorder. Pregnancy where maternal stress is likely to be induced could possibly affect the development of the baby according to Gilmore Murrays study in 2006 [8] [23]. To determine whether prenatal stress alters neural, hormonal, and behavioural processes, in an experiment they carried out, pregnant rhesus monkeys were deliberately stressed frequently for 6 weeks of their pregnancy with various stimuli. Between 2-3 years of age, hippocampal volume, neurogenesis (generation of neurons), and cortisol levels were monitored in the offspring produced from both stressed and control pregnancies. Prenatal stress caused a reduced hippocampal volume and an inhibition of neurogenesis. These findings indicate that the prenatal environment can alter behaviour and affect the hippocampal structure of primates in a persistent manner. Furthermore if the mother happens to be anxious (stressed) while pregnant, there have been noticeable results suggesting reduced blood flow to the baby via the uterine arteries; blood vessels that supply nutrition and blood to the uterus. This could justify abnormalities in the development of the baby and the mothers high cortisol levels (a dominant stress hormone) could too pass onto the foetus. If adequate cortisol transports through the placenta from the mother to the foetus. This in turn could potentially affect the development of the brain and the future stress responses of the baby, thereby enhancing the risk of schizophrenia arising. Studies point to numerous stress-inducing environmental influences that may be related to schizophrenia, for example [22]: Inadequate oxygen levels during labour (due to prolonged labour or premature birth) Exposure to a virus during infancy e.g. T Gondi Drug abuse A relationship between marijuana use and the disorder has been suggested several years ago (Andreasson, Allebeck et al. 1987).   These conclusions have been validated by additional research.   Fundamentally, the deductions drawn from many of these reports were that marijuana use can induce psychosis.  Ã‚   For example, according to Thomas H, he stated the occurrence of psychotic symptoms amongst marijuana users in a random selection of volunteers from New Zealand. Fourteen percent of cannabis users described strange, unpleasant experiences such as hearing voices or becoming convinced that someone is trying to harm you or that you are being persecuted after consuming the substance. Such symptoms are frequent with schizophrenics too. [29] In addition Mathers DC conducted a study of patients residing in two London hospitals whose urine was investigated for the presence of cannabinoids (the active constituents of cannabis). They found a link between the presence of cannabinoids in urine and the disorder. This suggests a potential correlation and not entirely causual link, either that cannabis use increases the likely hood of being predisposed to a mental illness or that substance abuse is commonly adopted with post diagnosis [28]. The reliability of this data can be disputed even though it is a published study, a sample size made up of two individuals is notably small, especially when schizophrenia affects 1% of the global population, hence it may not be appropriate in statistical representation of the entire population because fewer risk factors can be taken into account to generate sound data, prove that a correlation exists and thus make any hypothesis meaningful. The cannabinoids found in cannabis, once consumed are thought to interfere with normal neural transmissions. The normal release of neurotransmitters, such as acetylcholine and dopamine (chemicals that help transmit impulses) from post synaptic neurons are seen to be inhibited (Gill et al, 1970). In turn excitatory postsynaptic currents in neurons were dramatically reduced. If this process becomes perpetual prominent effects of cannabinoids include disruption of psychomotor behaviour (such as speech and coordination) and shortà ¢Ã¢â€š ¬Ã‚ term memory impairment [33].  In addition psychomotor retardation consists of several symptoms that have been acknowledged in schizophrenia. However there is miniscule evidence that such impairments are permanent stated by Manuel Morrens study in 2006. Abnormal brain structure Due to the progression in neuroimaging, technology now allows scientists to examine functions in living organisms and in particular brain structure. Investigations involving schizophrenics have identified irregularities in brain structure according to Johnstone (1976) [27]. Such as the expansion of the ventricles (fluid-filled cavities), the decline in size and metabolic activity in particular brain regions. These brain ventricles signify an insufficiency in the volume of brain matter. In addition evidence of abnormally low activity in the frontal lobe; the area of the brain accountable for higher order functioning including; speech and decision-making has too been gathered. Which could explain why schizophrenics experience slurred speech. Regardless of the evidence of brain abnormalities, it is doubtful that schizophrenia is caused by a single issue in any one area of the brain. Moreover microscopic studies of dead brain tissue in schizophrenics have also illustrated slight alterati ons in the distribution of brain cells. However these defects are not characteristic of  all  people with schizophrenia, neither do they happen  solely in people with the disorder. [7][8] This image is of 28-year-old identical twins, one with schizophrenia and the other well. Hence it clearly illustrates two points: (1) schizophrenia is a brain disease with measurable structural and functional abnormalities in the brain; and (2) it is not solely a genetic disease, and that other biological elements contribute in its etiology. C:UsersRahmanDocumentsSchizopherniaschizophrenia-brains-identical-twins.jpg Figure 1 MRI scans of 28-year-old identical male twins showing the enlarged brain ventricles in the twin with schizophrenia (right) compared to his well brother (left) Neurotransmitters Brain cells need messages to be transported between them; neurotransmitters are the chemicals that carry out this requirement. Neurotransmitters and schizophrenia have shown to demonstrate a relationship since medicines that adjust the levels of neurotransmitters in the brain are recognized to alleviate a few of the symptoms of schizophrenia. Therefore schizophrenia could possibly be triggered by an alteration in the level of the two neurotransmitters serotonin and dopamine chemicals that help transmit nerve impulses from one nerve cell (neurone) to another across a synapse (gap between two neurones), investigations have suggested [7][8]. Lastly the antipsychotic drug chlorpromazine thought to reduce relapse time (suffer deterioration after a period of improvement), which too blocks dopamine-receptor complexes forming suggests that an imbalance of the two could possibly be the foundation of the problem. Genes In addition in 2006 a Gene linked to schizophrenia had been found, a University team from Edinburgh found people predisposed with what is called Neuregulin (gene) had a higher chance of developing similar psychotic symptoms. The longitudinal study followed a group of 200, of the same age and gender, for a period of 10 years. [9][10][11] This study could be deemed reliable to an extent, seeing as though 10 years is an extremely substantial amount of time, hence a vast amount of data could be collected to either support or disprove the theory. In addition by following individuals of the same age and gender, further risk factors that could influence the results were controlled. Meaning the data would be valid, because any results would be more likely to be influenced by genes alone. Neuregulin 3 is clearly one more gene to add to the few currently known to contribute to schizophrenia, says David Valle, director of the McKusick-Nathans Institute of Genetic Medicine at Hopkins. Pregnancy and birth complications The following circumstances increase the risk of the child developing schizophrenia later in life [8]: Exposure to a virus while in the womb Asphyxia (Lack of oxygen) during birth Malnutrition during pregnancy (Susser et al. 1996) How is schizophrenia treated? Due to the cause for schizophrenia still being undetermined, treatments target alleviating the symptoms. These include the use of both antipsychotic medication and various other psychosocial management techniques. Antipsychotic drugs assist in normalizing the biochemical imbalances that cause schizophrenia. Antipsychotic medications Medications used to treat schizophrenia are referred to as antipsychotics. Antipsychotics are dopamine antagonists they block receptors on the surface of neurons. How do antipsychotic drugs work? Neurons (nerve cells) carry electrical impulses through their branches. Neurons communicate chemically by sending out bursts of chemical signals (neurotransmitters NTs) into the synapse (space between neurons) and then sticking to receptors on receiving neuron. Receptors are shaped to fit with specific NTs and generate a new signal/change in the receiving cell. Molecules of antipsychotic drugs are deliberately shaped so that they stick to the dopamine receptors first; therefore preventing the binding of NTs so no signal goes through to the post-synaptic/receiving cell. [30] G:BlackBerrypicturesIMG00079-20130303-1521.jpg Figure 2 The picture above illustrates how the antipsychotic drug works by blocking the receptors on the post-synaptic neuron. The following include frequently used medicine [13]: Chlorpromazine C:UsersRahmanDocumentsSchizopherniaChlorpromazine 2D skeletal.png Figure 3 This picture illustrates the chemical composition of the antipsychotic Clozapine.Haloperidol Ondansetron Clozapine Clozapine as mentioned above is an effective drug utilized in treating psychotic symptoms, for example, hallucinations or long breaks with reality. Because antipsychotic drugs inhibit neurotransmitter and receptor complexes forming, such nerve impulses cannot be passed on through the neural pathway. In turn this prevents such thoughts from being processed by the CNS (central nervous system), including the brain and hence the patient doesnt encounter similar problems as before. However it too has its drawbacks, it can occasionally result in the loss of white blood cells which assist the immune system to fight off infection. As a result clozapine users require regular weekly blood tests in order to have their white blood cell count checked [26]. Moreover such a side effect can become an issue where health services are limited in availability, as well as the problem of being able to cope with the cost of blood tests and medicine, making treatment with clozapine demanding for a large majority of individuals. However clozapine is potentially valuable for those who have developed a resistance to alternative antipsychotic medication. What are the side effects? Further side effects may occur when schizophrenics begin taking their medication. Side effects of many antipsychotics include [14]: Tiredness Light-headedness Obscured vision Increased heart rate Inflammation Menstrual complications for women. One of the challenges with any form of medication is that a minority of individuals unable to tolerate the adverse side effects of the drug prescribed for their condition terminate its use into several months of their treatment. Furthermore in reference to a more serious medical note, persistent use (over several years) of antipsychotic drugs pose the risk of developing tardive dyskinesia (TD), a disorder categorised by involuntary movements. This may involve jerk movements of the limps (arms or legs) and certain other features of the body. However it only occurs in between 15-20% of all cases. The symptoms of TD are minor, to the extent where patients could possibly be unaware [13]. Its cause is supposed to be a result of prolonged inhibition of dopamine D2  receptors (a cell that dopamine binds to) which is thought to cause a surge in the quantity of D2  receptors in the striated section of the brain (regulates muscle contraction). This increase of D2  receptors enhances the chance of dopamine-receptor complexes forming, thereby leading to further impulsive muscle contraction. [34] Moreover typical antipsychotics can lead to severe obesity and alterations in a persons metabolism. This in turn can increase the possibility of diabetes and high cholesterol levels forming (therefore there is a need for doctors to regularly monitor a persons weight, glucose levels and liquid levels). Psychosocial Treatments (Alternative Treatment) Along with the more common psychotic symptoms of schizophrenia, for example, hallucinations, which antipsychotic drugs have demonstrated to alleviate. Patients are still left dealing with the behavioural difficulties of the condition. This treatment aims to ease psychological distress through a more personal and interactive process, rather than the use of medication. The following include methods in helping to treat these behavioural issues [5]: Individual/Group Psychotherapy consists of repeated scheduled talks between the patient(s) and a psychiatrist. Giving him/her the opportunity to discuss the difficulties that leave them feeling distressed in an intimate and safe environment. In turn the weight off having to deal with the problem alone can be removed, the psychiatrist can then provide an explanation for the suffering that is progressive that is, the patient understands something can be done to mend the situation. This leads them to conducting themselves in a healthier and active manner, whether it is thinking more positively or they learn how to maintain better relationships. This seems to be effective because the patient is given the self-belief that any improvements are down to their own merit. Family Education This involves teaching several coping techniques to families for the purpose of dealing more effectively with their ill relative. Relatives can be crucial tools when dealing with schizophrenics, with their support and guidance patients can find some form of normality and alleviate the effects of solitude, just one of the many symptoms of the condition. In general with the combination of medicinal and psychosocial treatment, patients quality of life of can be drastically improved. However dont be deceived, the treatment process for some individuals can be difficult to follow, in reference to drug side effects treatment may be discontinued. This is where relatives can be vital in assisting that patients do not relapse. C:UsersRahmanDocumentsSchizopherniapsychiatry-couch2.jpg Figure 4 this picture illustrates a comfortable environment, typically in a psychiatrics place of practice where the patient can discuss his feelings on topics that cause concern and thereby hopefully reduce his psychological suffering. This should improve his quality of life. Electroconvulsive therapy (ECT) ECT is scarcely implemented in the treatment of schizophrenia (e.g. exceptions may include when there is a high risk of suicide). The following describes how the treatment would typically be conducted [32]; The patient will have a pulse oximeter connected to them, in order to monitor blood oxygen levels. Electrodes will then be placed onto the recipients chest so that the electrical activity across the patients heart can be observed using an electrocardiogram (ECG) In addition an  electroencephalogram (EEG)  will too be simultaneously utilized to monitor brain activity The monitoring of blood pressure is imperative, so that any faults during the treatment can be identified immediately; hence a blood pressure cuff is positioned onto the recipients arm. Using a sharp hollow needle connected to a transparent tube, access to the blood vessel is obtained for the administration of drugs A sedated state is induced using the appropriate drugs to prevent erratic movement and a constant supply of oxygen is provided throughout the procedure. Next a bite block is placed in the patients mouth because the jaw tightens during the treatment and weakened teeth could break. Additional electrodes are placed onto the head; the electrical current is then applied through the scalp of the brain causing a seizure to occur. What the seizures are thought to do vary, suggestions include causing alterations in brain chemistry, especially in the balance of neurotransmitters, and hence the brain can function normally because nerve impulses are neither slowed down or too fast. An alternative theory suggests that ECT can stimulate the growth of new cells and nerve pathways in certain areas of the brain, as a resultà ¢Ã¢â€š ¬Ã‚ ¦ which can quickly inverse the symptoms of such an illness, the specifics yet remain unknown (Wahlund B   Von Rosen D, 2003). Evidence from randomised control trials (RCTs) have shown restricted success, lasting short term (Cochrane Schizophrenia Group, 1999). The typical side effects that arise seem to include; muscle aches, headaches and memory loss instantly after the procedure. Disadvantages of Psychosocial Treatments With any form of treatment, certain limitations will always follow; this includes that psychotherapy will naturally take a significantly longer span of time, in order for noticeable improvements to be seen in patients in comparison to drug therapy [24]. This is because psychotherapy very much depends on the use of the patients own mental experiences to bring about the desired changes, whereas drugs will have the desired effect regardless. Moreover in regards to the financial aspect of the treatment, it can too place a severe burden on health services to facilitate either group or individual therapy sessions at the tax payers expense, it has been estimated to cost society  £2 Billion in direct cost of treatment in 2004/05 (Mangalore R, Knapp M, 2007). In addition psychotherapy alone is not completely successful and effective in people with  a severe psychological state, so drugs can sometimes be the only form of treatment. Research into Stem Cell Treatment for Schizophrenia (Potential Treatment in the Future) Stem cells are unspecialized cells that hold the potential to differentiate into any type of cell found within the human body [19]. The National Institutes of Health states that stem cells have the remarkable potential to develop into many different cell types in the body during early life and growth. [15] Stem cells hold the potential of great breakthroughs in the science community, in this case the possibility of an effective cure being manufactured in the future. However since our current limitations with the research, for example, problems with deliberate cell differentiation and the undetermined cause for schizophrenia such research has been delayed not till another 50-100 years so our understanding of stem cells is at an adequate level. However there are ethical issues that would arise in treating schizophrenia with stem cell therapy once scientifically possible. For the predominant reason that the pluripotent stem cells needed for research are solely present in embryos and the extraction of these would result in its death. For those people who believe that life begins at conception, this may be perceived as murder, seeing as though a viable life had been forcefully refused and to destroy it is immoral [15]. Furthermore like any other new technology, because we have not had a vast amount of time to study it to gather sufficient information on its broad impact; it is completely unknown what the long-term effects of such an intrusion with nature could mean to society. Such as will patients grow an extra arm in 10 years from the point of its use? Lastly stem cells derived from embryos that are not a patients own may be identified as a foreign body, so may be rejected. Therefore stem cell therapy may not always be appro priate. Although in order to balance the argument, stem cell therapy could be substantially beneficial to our society, it could potentially mean a cure, where patients would no longer suffer from the condition after treatment, resulting in a better quality of life. It could therefore replace conventional types of treatment e.g. medicine that are prescribed on a regular/life time basis. Thereby removing the pain inflicted on peoples lives caused by side effects and limits they can place such as, not being able to work from being too tired but more importantly reducing the burden placed on society by schizophrenia, for example, the financial expense of producing drugs. Furthermore if the development of new drugs in this area are no longer as important, a by-product could mean fewer pressures to experiment on animals, which is a constituent of the drug development cycle. Hence animals would be subject to less brutality such experiments hold. With anything, the pros and cons must be weighted out , so that a decision suiting the majority is made. C:UsersRahmanDocumentsSchizopherniaStem cells.jpg Figure 5 This illustration depicts pluripotent stem cells ability to differentiate into a range of cells found in our bodies, for example, neurons. Modelling schizophrenia using human induced pluripotent stem cells Research carried out by Professor Fred Gage, an expert in genetics has successfully been able to induce pluripotent stem cells (iPSCs) created from schizophrenic patients. Sages study published in the journal Nature (April 13, 2011) suggests both that neurons formed from such individuals made fewer links with each other in comparison to neurons found in non-sufferers of the condition. Such research will have a variety of beneficial impacts, including as stated by Gage [20][21]: With further research there is potential of possibly replacing such abnormal neurons related to the condition with healthy ones.This model not only affords us the opportunity to look at live neurons from schizophrenia patients and healthy individuals to understand more about the disease mechanism, but also to screen for drugs that may be effective in reversing it. C:UsersRahmanDocumentsSchizopherniastem cells from schizophrenics.jpg Figure 6 This picture illustrates the healthy neural pathway in the brain generated from schizophrenia patient-derived induced pluripotent stem cells. The Cost of Schizophrenia to Society: Economical Implication Also, for the government, especially in the UK where health care is provided free of charge, people with schizophrenia can be a severe financial constraint. Because such patients suffer from numerous debilitating  symptoms, including depression and hallucinations. Doctors will prescribe medication in order to combat this, in this instance antidepressants (e.g. prozac) or antipsychotics of which both need to be paid for. This cost is financed by the tax payers, the problem doesnt stop there. With any drug, side effects are present as a result of its usage; doctors too prescribe further medicine to treat these symptoms. The domino effect of over scribing medicine leaves the country with an overwhelming financial cost. In regards to Mangalore and Knapps study in 2007 indirect societal costs for schizophrenia were estimated to once have had an expenditure of  £4.7 billion in the UK in 2004/05 [25]. According to Marwaha Johnsons journal published in 2004, it showed that amongst those with long-term mental health problems in particular schizophrenia, only 24% were employed [18]. As a result, in order for such people to maintain a standard of living, such as being able to purchase food and pay rent on their homes, they will usually claim an incapacity benefit entitling them to some money per week. This cost will be supplemented by the government once again, adding to the total financial burden left by mental disorder patients. Social Implication The improper treatment and dismissal of the symptoms of schizophrenia can be overwhelming for the patient and those surrounding him/her.  Examples of the possible effects of schizophrenia include the following: Suffering from schizophrenia can make being employed and retaining relationships immensely challenging, because such patients frequently suffer from relapses, typically involving hallucinations; whereby the patient claims to see things that arent really there. This can cause them to develop trust issues and communication problems, sometimes feeling that they are being persecuted by the individuals themselves. As a result, the patients keep themselves isolated, disregarding their support or even presence. This may ultimately lead to the loss of relationships, which can have a psychological toll on the family members too who care for the person, knowing that they may never truly embrace the same person again. In addition schizophrenics ar

Hamlets Procrastination And Co Essay -- essays research papers

Hamlet’s Procrastination and Cowardice  Ã‚  Ã‚  Ã‚  Ã‚  In William Shakespeare’s play Hamlet, Hamlet is a loyal prince who vows to avenge his father’s murder. When Hamlet discovers the painful truth about his father’s death, he is left with feelings of hatred and resentment in his heart towards the murderer, Claudius. Although Hamlet is a very noble and sophisticated man, he struggles with the issue of avenging his father’s death. He swears his revenge will be quick, however, this is not the case. Since Hamlet is more into philosophizing than action, he thinks about his intention to kill Claudius. The more he thinks about his intention, the less he is able to execute it. The tragic flaw that Hamlet possesses is his inability to act. He vows that he is going to kill Claudius but backs out of it several times before the deed is actually done. Hamlet’s first sign of procrastination and lack of action begins to show through his character at the very beginning of the play. The ghost informs him about Claudius’ evil doings. Hamlet is prompt by replying: “Haste me to know’t; that I, with wings as swift As meditation or the thoughts of love, May sweep to my revenge.'; (Shakespeare, p. 67) This passage shows how Hamlet decides to avenge his father’s death. In fact, he declares that he will be committed to nothing else but the revenge against Claudius:   Ã‚  Ã‚  &nb...

Essay --

Kaylee Miller ENG 2413, 3 period C. Windham 10 December 2013 Helping Hand Mary Shelley was not an ordinary nineteen-year-old. She was the daughter of major novelist William Godwin and woman activist Mary Wollstonecraft, and the wife of one of the primary second-generation poet. In life, Mary had to face many situations without her mother, because she was only eleven days old when she passed away. Throughout Mary’s life, she lost three of her four children prematurely. Her only surviving child was named Percy Florence, and she was born in 1819. Frankenstein was released when Mary was twenty-one years old. The central idea came to Shelley in a dream where she saw a student placing parts together of a male’s body and working through an engine to animate it. In Mary’s Shelley’s novel, the Creature goes from being innocent, to a harmful individual, and results in being a kind hearted helping hand. The Creature had a tough life to begin with, and he was an innocent creature. He was forced to provide for himself with knowing nothing and without a leading hand. He describes his first expe...

Free Essay on Miltons Paradise Lost - Paradise Lost as an Epic :: Milton Paradise Lost Essays

Paradise Lost as an Epic  Ã‚   The Oxford English Dictionary defines "cosmos" as "the world or universe as an ordered and harmonious system," from the Greek, "kosmos," referring to an ordered and/or ornamental thing. Though Pythagoras is credited with first using this term to describe the Universe, probably since he is also the one most commonly cited for ideas of harmony and the Musica Mundana, cosmos is generally a contrast to "chaos"-"the first state of the universe." In explaining the theology and cosmology of Paradise Lost, Milton writes, "the heavens and earth/ Rose out of Chaos," describing the move from the formless mass to the ordered whole. (I:9-10) As much as this delineates the structure of the world, however, its culmination seems to appear in the Spirit, as Milton has conceived it-the free, reasoning, integrated Consciousness. Though many have found a hero in the English epic from its dramatis personae-from Adam to Satan to God/Son himself-the most encompassing heroism seems that of Milton himself, a s a manifestation of this most supreme of creations: the wholesome mind.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An instance in which Milton's views on the sovereignty of the Spirit appear in some of the conversations of the Arch Fiend himself with his fellows-which is quite ironic, considering that the story is an extrapolation upon Christian Scripture. One of Satan's "compeers" says, during a discussion after their exile from Heaven: Too well I see and rue the dire event That, with sad overthrow and foul defeat, Hath lost us Heaven, and all this mighty host In horrible destruction laid thus low, As far as Gods and heavenly Essences Can perish: for the mind and spirit remains Invincible, and vigour soon returns, Though all our glory extinct, and happy state Here swallowed up in endless misery (I:135-140).    The invincibility of "the mind and spirit" is something which even the foes of God understand. Though the fallen angels corrupt their "heavenly Essences" with disobedience and revolt, they still have a keen understanding of the powers of perception, of personal reaction to one's environment-"for neither do the Spirits damned/ Lose all their virtue" (2:482-483). Satan boldly speaks to his fellows, asking What though the field be lost? All is not lost-the unconquerable will . . . And courage never to submit or yield (I:105-108).    Like a true hero, Satan refers to conquest and courage, a response to the tyranny he and his cohorts have received from the hand of God.

Composers use language to create images

Composers use language to create images that communicate main ideas and add richness and depth to their texts BY Chrts961 Composers Wilfred Owen, writer of poems ‘Futility and ‘Exposure', and Jessie Pope writer of Who's for the game? use a diverse range of language techniques in their poems to create images to communicate main ideas . AII words in their poems are important because the way these poets use language is exactly in description which may be used to create tone, atmosphere or mood or simply to add richness and depth to their texts.Wilfred Owen's ‘Futility is about the existence of mankind. From the beginning of Futility we feel a rather scarce sense of emotion and feeling, but towards the end of the poem as the narrator starts to question things we begin to feel how distressed he becomes – â€Å"full nerved – Still warm – Too hard to stir? Was it for this day grew tall? – O what made fatuous sunbeams toil to break Earth's sleep at all? These rhetorical questions indicate to us the sense of urgency being felt for the soldier's life. Ultimately, the composer uses rhetorical questions to communicate deeper emotions. In the second stanza of ‘Exposure', Owen uses a clear description of he sound that the wind makes through the barbed wire – â€Å"like twitching agonies of men among its brambles†. The use of simile helps to create the extreme horror of no man's land and connects with the idea of the title ‘Exposure'.Although Who's for the game? Which is composed by Jessie Pope is about a serious topic, he helps us see the bright side to a war. This is done through rhyme. The use of rhyme gives a musical element in the poem and when combined with a serious topic it would feel as if the poem is trying to fire you up to go sign up and fight for your country in war. â€Å"Who'll give his country a hand? And who wants a seat in the stand? † suggests exactly this. Where is the love?

American Politics

Liberty is a concept that is commonly used by the average American in his daily affairs. A lexical definition of liberty states that it refers to the freedom to believe or act without the restriction of an unnecessary force. As far as the individual is concerned, liberty is the capacity of a person to act according to his will. But do we really know the history of America’s liberty? Do we really understand the historical events that have shaped the liberty that we know of and enjoy in these contemporary times?In this paper, I will be examining the roots of American liberty from the founding era to the modern debates surrounding the concept of liberty. I will also be looking into the proponents of liberty and those who have shared a significant role in defining and upholding liberty as we know it today. The Founding Era Hundreds of years before today, America was an entirely different place. Long before the creation of the Constitution, different European countries have already established their own settlements across America. The Spaniards and the French were among the early colonizers until the time of the British.During the rule of the British Empire, severe shortage in human labor resulted to enslavement and indentured servitude of the natives. In the years that followed, conflicts broke-out between the Native Americans and the English settlers. It should be noted, however, that Virginia already had black indentured servants in 1619 after being settled by Englishmen in 1607 (â€Å"Virginia Records Timeline: 1553-1743,† http://memory. loc. gov/ammem/collections/jefferson_papers/mtjvatm3. html), thereby suggesting that the attainment of genuine liberty from the colonizers is yet to be realized.It is perhaps during the time when the English pilgrims came to Plymouth, Massachusetts in 1620 and established their colonies that the concept of liberty came about, not the least in the context of the pre-Constitution history of America. As Mark Sargent w rites in his article â€Å"The Conservative Covenant: The Rise of the Mayflower Compact in American Myth,† some of the passengers in the Mayflower ship â€Å"who were not travelling to the New World for religious reasons would insist upon complete freedom when they stepped ashore† since the New World is already â€Å"outside the territory covered in their patent from the [British] crown† (Sargent, p.236). After the Seven Years War between the British forces and the alliance of French and American Indian forces in 1763, the British Empire enforced a series of taxes on the Americans so as to cover a portion of the cost for defending the colony. Since the Americans considered themselves as subjects of the King, they understood that they had the same rights to that of the King’s subjects living in Great Britain.However, the Sugar Act, Currency Act—both passed in 1764—the Stamp Act of 1765, the Townshend Act of 1767, to name a few, compelled the Americans to take drastic measures to send the message to the British Empire that they were being treated as though they were less than the King’s subjects in Great Britain (Jensen, p. 186). Moreover, the taxes were enforced despite the lack of representation of the American colonists in the Westminster Parliament.One of the famous protests taken by the Americans is the Boston Tea Party in 1773 where numerous crates containing tea that belonged to the British East India Company were destroyed aboard ships in Boston Harbor. As a result, the British government passed a series of acts popularly known as the Intolerable Acts in 1774, further fanning the growing oppression felt by the American colonists. Eventually, the American Revolution ensued beginning in as early as 1775 when British forces confiscated arms and arrested revolutionaries in Concord, thereby sparking the first hostilities after the Intolerable Acts were passed (Jensen, p.434). From 1775 to 1783, the colonies tha t formed their own independent states fought as one as the Thirteen Colonies of North America. Lasting for roughly eight years, the American Revolutionary War ended in the ratification of the Treaty of Paris which formally recognized the Independence of America from the British Empire. Between these years, the colonies underwent several changes which constitute part of the developments toward the framing of the Constitution (Bobrick, p. 88).One of these changes is the shift towards the acceptance of notable republican ideals, such as liberty and inalienable rights as core values, among several members of the colonies. Moreover, the republican ideals of the time saw corruption as the greatest of all threats to liberty. In essence, the concept of liberty during the founding era revolves around the liberation of the American colonies from the British Empire and the growing oppression it gave to the colonists through taxation burdens and a series of repressive acts.For the American colo nists, liberty meant the severing of its ties from the British government and the creation of its own independent nation recognized by other countries. The writing and ratification of the Constitution On the fourth of July in 1776, the second Continental Congress signed and officially adopted the United States Declaration of Independence which established the separation of the thirteen American colonies—the colonies which were at war with Great Britain from 1775—from the British Empire.Although others say that the founding moment of America is not on July 4 but two days earlier (Groom, http://independent. co. uk/arts-entertainment/books/review/the-fourth-of-july-and-the-founding-of-america-by-peter-de-bolla-455878. html), it remains a fact that there came a point in time when America finally declared its independence. The evolution of American political theory—especially that which is concerned with liberty—can be better understood during the confrontatio n over the writing and the ratification of the Constitution.In fact, the Declaration asserts that people have unalienable rights which include life, liberty and the pursuit of happiness. The Articles of Confederation served as the constitution which governed the thirteen states as part of its alliance called the â€Å"United States of America†. After being ratified in 1781, the â€Å"United States of America† was brought as a political union under a confederate government in order to defend better the liberties of the people and of each state. Meaning, each state retained its independence and sovereignty despite being politically held together as part of the union.However, the Articles were not without opposition and criticisms from several notable political thinkers of the time. For example, James Madison saw several main flaws in the Articles of Confederation that were alarming, or threatened the very existence and purpose of the Articles first and foremost. For one, Madison was concerned about the dangers posed by the divided republics or â€Å"factions† given that their interest may stand in conflict to the interests of others. Madison argues in The Federalist, specifically in â€Å"Federalist No.10,† that in order to guard the citizens from the dangers posed by these individuals who have contradicting interests, a large republic should be created, a republic that will safeguard the citizens from the possible harms brought by other states. It is likewise important to note that the union is not a homogenous group of citizens with the same political inclinations. Madison also argues that for the government to become effective it needs to be a hybrid of a national and a federal constitution.The government should be balanced in the sense that it should be federal in some aspects and republican in others instead of giving more weight to each separate state over the larger republic. In his â€Å"Federalist No. 39,† Madison prop oses and describes a republic government guided by three fundamental principles: the derivation of the government’s legitimate power through the consent of the people, representatives elected as administrators in the government, and a limitation on the length of the terms of service rendered by the representatives (Kobylka and Carter, p.191). Madison also pointed out in â€Å"Federalist No. 51† that there should be checks and balances in the government, specifically among the judicial, legislative and the executive branches. The judiciary, therefore, is at par with the other two inasmuch as each of the other two are at par with one another. Giving one of the three more powers disables the other two to check if that branch is still functioning within its perimeters.As a result, the more powerful branch becomes a partisan branch which consequently creates dangers to the liberties of the people. Another important part of the evolution of American political theory is the c ontention raised by Patrick Henry. In a letter sent to Robert Pleasants in January 18, 1773, Patrick Henry sees the relationship between the new government and the institution of slavery as a contradiction precisely because while the new government is said to be founded on liberty, there the evil that is slavery persisted under the new government.During those times, slavery was not yet abolished and that the new government was unable to meet the challenge of living up to its roles and foundations by failing to address the institution of slavery and demolishing it altogether. Moreover, Henry understood the efforts of secession from the hands of England were a matter of freedom or slavery, which can also be looked upon as a question of either a freedom from or a continuation of tax slavery from the British.While Madison was part of the â€Å"Federalists† who were supporting the ratification of the Constitution, the â€Å"Anti-Federalists† apparently argued against its ra tification. It was Patrick Henry who led the group in criticizing the contents of the proposed Constitution. For instance, Henry argued that the phrase â€Å"We the People† in the Preamble of the Constitution was misleading primarily because it was not necessarily the people who agreed and created the proposed Constitution but the representatives of each participating state.Thus, Henry argues that the Preamble should instead read as â€Å"We the States† which in turn delegated power to the union. Another argument of the Anti-Federalists is the claim that the central government and, therefore, the central power might result to a revival of the monarchic type of rule reminiscent of the British Empire which the Patriots fought. The fear is that, by delegating a considerable amount of power to the central government, the liberties of the individual states and the people are weakened as a result.Nevertheless, the Constitution was adopted on September 17, 1787 and later rati fied in each of the state conventions held. The anti-federalists share a significant role in strengthening some of the points of the Constitution through the succeeding amendments. The first ten amendments to the Constitution are popularly known as the Bill of Rights; it is largely influenced by the arguments of the anti-federalists. For the most part, the Bill of Rights aimed to guarantee that Congress shall not create laws which stand against the rights and liberties of the citizens of the nation.In effect, the Bill of Rights limits the power of the federal government in order to secure the liberties of the people in the United States. In â€Å"Federalist No. 84,† Alexander Hamilton argues against the Bill of Rights for the reason that the American citizens will not have to necessarily surrender their rights as a result of the ratification of the Constitution and, thus, the protection of the rights through the Bill is unnecessary. Moreover, Hamilton also argues that creatin g a Bill of Rights would effectively limit the rights of the people since those that are not listed in the Bill will not be considered as rights.In response to the argument, the Ninth Amendment to the Constitution was introduced and ratified later on. The amendment specifically states that the rights of the people are not to be limited to those which are listed in the Constitution. As it can be observed, the time before and during the ratification of the Constitution and the succeeding amendments made reflect how the people at the time sought to protect the liberties that they have realized and gained after the American Revolution and the defeat of the British Empire.Moreover, the debates at that time revolved around the issue of what to do with the liberties gained and how to secure them for the coming generations. One side—the Anti-Federalists—argues that the central government weakens the independence and sovereignty of the states as well as the rights and liberties of the people. The other side—the Federalists—argues that the Constitution will help preserve and strengthen the Union. Modern debates In the years that followed, debates over the interpretation of the Constitution, the role of the government and the place of the individual in American society have escalated.In his essay â€Å"Resistance to Civil Government† (popularly known as â€Å"Civil Disobedience†) first published in 1849, Henry David Thoreau asserts that the people should not simply remain passive and allow the government to be an agent of injustice. Much of Thoreau’s political beliefs eventually follow that same philosophy. In his work Walden published in 1854, Thoreau attempts to live a life of solitude in a cabin, away from the reaches of the society. In one of his days in Walden, Thoreau was arrested for the charge of not paying his taxes. His defense was that he refuses to pay federal taxes to a government that tolerates slavery.In ess ence, the fact that Thoreau decided to stay in solitude for approximately two years (although the contents of Walden was made to appear as though all the events happened within just a year) signifies his decision not to conform to the dictates of the society. On the contrary, Thoreau lived a life of liberty, free to do anything that he chooses without the institutions of society restraining him. The same sentiment—non-conformity or disobedience to the dictates of the society, especially the government—echoes through in Thoreau’s other work, which is â€Å"Civil Disobedience†.Thoreau asserts that â€Å"the only obligation which I have a right to assume is to do at any time what I think [is] right† (Thoreau, http://sniggle. net/Experiment/index. php? entry=rtcg#p04). That passage, along with the rest of â€Å"Civil Disobedience† and its theme in general, implies that people have an inherent liberty, which is the liberty to do any time what the y think is right. Taken altogether in the context of the concept of liberty, Thoreau seems to suggest that people ought to disobey a government that oppresses other people since each individual has inalienable rights that nobody can take away, not even the government.In the face of oppression such as slavery (which was still very much a part of America within twenty years after the ratification of the original Constitution since the issue of slavery was a very delicate and contentious matter during the Philadelphia Convention), Thoreau even suggested that Abolitionists should not only confine themselves with the mere thought of abolishing slavery but resisting the instructions of the government such as paying taxes.Thus, as a reading of Thoreau’s works would suggest, to have liberty is to act upon crucial issues instead of passively allowing contentious actions of the government to thrive and continue. I cannot help but think that Thoreau’s concept of liberty is someth ing that is absolute, which I also take to mean as confined only within one’s disposition instead of being limited by the government. Moreover, since Thoreau suggests that liberty is doing any time what one thinks is right an individual should first know if what he or she thinks is indeed right instead of being wrong.Charles Madison notes that Thoreau was heavily concerned with the â€Å"ever pressing problem of how one might earn a living and remain free† (Madison, p. 110). I cannot help but begin to think that Thoreau attempts at embodying and enacting his individualistic beliefs. As Leigh Kathryn Jenco argues, â€Å"The theory and practice of democracy fundamentally conflict with Thoreau’s conviction in moral autonomy and conscientious action† (Jenco, p.355); democracy is essentially the rule of the majority which consequently ignores the decisions of the minority. However, I think that much of Thoreau’s thoughts were heavily influenced by the c ircumstances during his time. His aversion towards the imposed taxation policy of the government stems from the fact that the government at that time still tolerates slavery which is directly against an individual’s liberty.Thoreau’s insight on the perceived conflict between the liberties being upheld by the Constitution and the actual state of the government during his time points us to the ideal that the people are sovereign because the people is the ultimate source of power of the government. If it is indeed the case that the Constitution upholds the rights of individuals including the right to liberty, it seems appropriate to consider as well why slavery at that time was not immediately abolished entirely especially at the time when the Constitution was ratified.In fact, it was only in 1865 under the Thirteenth Amendment—about 80 years after the original Constitution was adopted—when slavery was legally abolished and when Congress was given the power to finally enforce abolition. During the time when slavery was not yet abolished and immediately after the original Constitution was ratified, it can be said that not all citizens living in America were given full liberties. Several people were still laboring as slaves to their American masters.That is perhaps an often neglected piece of history that undermines the spirit of creating a Constitution and a government that will uphold the rights of the people. The pre-American Revolutionary war, the founding era, the ratification of the original Constitution, the creation of the Bill of Rights and the other succeeding amendments to the Constitution—all these stand as testimonies to the evolution of American political thought. The concept of liberty has played an important role in the development of the federal government and the Constitution.Although the history of American political thought might reveal that the attainment of liberty through the years has never been a smooth jo urney, contemporary America has reaped a large amount of benefits from the sacrifices and ideas of the Founding Fathers and all the people who lived and died during those times. Some might even argue that liberty is yet to be truly attained in today’s American society. But if liberty is yet to be attained in practice, how is it possible that people are given the right to air their grievances before the government?How is it possible that people have the liberty to do as they please so long as what they do does not conflict with what is legal? In any case, the present American Constitution guarantees the liberty of the people and that there are institutions which seek to promote and guard that important right. Had it been the case that the early Americans swallowed everything that the British Empire throw in their way and that the Founding Fathers abandoned the creation and amendment of the Constitution, the United States of America would not have been the land of the free and the home of the brave.Works Cited Bobrick, Benson. Fight for Freedom: The American Revolutionary War. 1st ed. New York, NY: Atheneum, 2004. Groom, Nick. â€Å"The Fourth of July and the Founding of America, by Peter De Bolla†. 2007. Independent. Co. Uk. October 16 2008. . Hamilton, Alexander, James Madison, and John Jay. The Federalist, on the New Constitution. 1787. October 18, 2008 . Jenco, Leigh Kathryn. â€Å"Thoreau’s Critique of Democracy. † The Review of Politics 65. 3 (2003): 355-81. Jensen, Merrill. The Founding of a Nation: A History of the American Revolution 1763-1776. Indianapolis, IN: Hackett Publishing Company, 2004. Kobylka, Joseph F. , and Bradley Kent Carter. â€Å"Madison, The Federalist, & the Constitutional Order: Human Nature & Institutional Structure. † Polity 20.2 (1987): 190-208. Madison, Charles. â€Å"Henry David Thoreau: Transcendental Individualist. † Ethics 54. 2 (1944): 110-23. Sargent, Mark L. â€Å"The Conservative Covenant: The Rise of the Mayflower Compact in American Myth. † The New England Quarterly 61. 2 (1988): 233-51. Thoreau, Henry David. â€Å"Resistance to Civil Government†. 1849. October 18 2008. . â€Å"Virginia Records Timeline: 1553-1743†. The Library of Congress. October 17 2008. . American politics One of the best characteristics of the US political system today is this particular feature: the presence of a socio-cultural and socio-political atmosphere that encourages and promotes the right of the individual to vote and the right to suffrage. This is considered as a positive aspect of the US political system. Not all of the countries and their respective political system make room for this rather delicate matter, to which the balance of power hangs and to which the fate of the country and its socio economic and socio political stability rests.The US political system should not change this particular aspect and on the contrary, manage to find ways on how to make this particularly enviable characteristic of the US political system develop more into something that lessens and lessens the chances and situations that limits or prohibits its citizens to vote and is not threatened by the possibilities of being corrupted by the politicians themselves.An important part of the praise-wor thy characteristic of the US political system to support the right for suffrage and encourage a population that is willing to go to voting precincts and vote and choose their own leader as part of the exercise of the democratic country they all live in is the fact that the right to vote is centered and is promoted not only among true blooded American citizens, but also to immigrants who are granted citizenship.This is important because this goes to show that the US' political system did not renege on its promise embedded on the towering facade of the Liberty Statue about bringing in and welcoming people from different cultures with open arms and giving them an equal treatment especially in the aspect which in other countries maybe a very delicate matter altogether – the right to vote.In the US, protection and promotion of the right to vote has been widely supported that politicians themselves are becoming â€Å"increasingly aware of the voting-bloc power of the immigrants (B ray 19)† that they â€Å"are offering meaningful choices and reforms to immigrant voters (Bray 19)† as well. One of the positive characteristics of the US political system is the consistent inclusion of the consideration for and fighting for the exercise and preservation of the human rights.Yes, it is true that the United States, as a country, has been the place where great battles on human rights were fought. The Klu Kux Klan reminds the world about the extent of racism in the United States. Isn’t it the same country that was divided and shed the blood of their countrymen because they do not see eye to eye with regards to the issue of liberating former African American slaves that the white people own? These are all important points that prove the problem of human rights in the US, especially during its earlier, younger years.But more important than these historical notes is the fact that it was through these experiences that heroes, like Abraham Lincoln and oth er fighters for human rights, were given the time to shine their brightest and influence not just the country, but the world about important socio-cultural values and the significance of human rights. Despite the times of troubles, the political system of the country has shown through the years that it is capable of learning and integrating inside the system the wisdom and knowledge lifted from previous experiences so that the system could be better in the end.Today, the protection of human rights in the United States is all the more highlighted and magnified, especially when news in Africa and from other countries tell the tales of individuals who died not being able to enjoy the most basic human rights, and leaving behind friends and family members who are still under the threat of having their human rights taken from them and violated in front of them.Their own political system is not powerful enough to protect them from this kind of atrocity that is still very much alive in many parts of the world even today. It is indeed very reassuring to know that the US political system features important aspects that can guarantee the exercise and protection of human rights, not just the rights of American citizens in the US but also the human rights of other people if the US political system can extend help for this cause as they did in the past like what they did in 1973 (Liang-Fenton 151).One of the problematic aspects of the US political system is the power of political appointments. It is considered as one of the â€Å"anxieties† haunting civil service as far back as the formative years of the National Commission on the Public Service (Bowles 239). This is something that is considered as problematic and is a characteristic that leans more on the negative side than on the positive side.This is because of the fact that political appointments are largely based on the whim of politicians who often use political appointments, either as leverage so that the poli tician can manipulate the exercise and flow of power and influence, or as a way/means for the politician to return the favor he or she owes to private individuals who, in one way or another extended help or assistance to the politician and in the process someone to whom the politician is owed to. In both cases, it is reflected how the power for political appointment is becoming more and more vulnerable to being utilized as a tool for used for the wrong reasons.An important change correcting this problematic situation is the limitation of political appointments to just a handful of aides that the politician will have to work with everyday. While it is true that the truly capable leader is capable of willing with different types of people and can function as a team player even if surrounded by team mates who the politician did not choose, there are significant benefits that comes out of letting the elected leader pick at least his core team. It follows that if the electorate trusts th e leader that they voted, they will trust the people whom the elected official trusts in return.In this line of thought, it now comes that political appointments should be limited to the immediate staff of the politician and no greater than that. Besides, the elected official was not elected to personally handpick every other civil servant. The current power for political appointments should be diminished and have the civil service system handle the filling of government positions so that the truly deserving individuals are placed in government positions without the bias from politicians who may exercise their powers incorrectly.It is quite unclear or uncertain yet in which particular part of the history the United States and its political system has actually began to become a hegemon, although John Agnew seemed to give the readers an idea akin to the amalgamation of several different factors leading to this reality of what is now known as the US hegemony on political, as well as ec onomic and even cultural spheres (Agnew 53).What is now clear today is that the United States has taken the role of the global hegemon, the US politics and the US system dictating and influencing heavily the course of action that many aspects of the present day globalized world has taken collectively. While it has its perks and positive features that the country and its people can and have enjoyed, this aspect of the US political system is something that causes problems and is more of a disadvantage than advantage.It is more of a negative characteristic than it is a positive characteristic because of what the hegemon role brings inside the country and towards it people – particularly, death by many US citizens which is often not morally or ethically justified. Take for example, the wars and armed conflict that the US has committed itself in fighting because of its self righteous role that comes out of being a hegemon.It wants to show the world that the country will be the lea der in fighting ideas like terrorism and how it physically manifests by bringing US soldiers to far off countries like Afghanistan and Iraq. These countries are turning out to be modern day version of Vietnam because of the continuous increase in casualties among US citizens who are fighting people from other culture and nation and carrying with them either very vague or very generalized ideas of the reason of war per se.The country should instead be content in the exercise of the limitation on trying to be the leader at everything with, at times, unreasonable sense of self-righteousness that it is doing more harm than good to the people of the country for which the US political system should serve in the first place, like making the US and its citizens prime targets of hate campaigns instigated by non Americans who detest the state of US hegemony.Works Cited Agnew, John A. Hegemony: The New Shape of Global Power. University of Chicago Press, 2005. Bowles, Nigel. The Government and Politics of the United States. Palgrave Macmillan, 1993. Bray, Ilona. Becoming a US Citizen: A Guide to Law, Exam and Interview. NOLO, 2008. Liang-Fenton, Debra. Implementing US Human Rights Policy: Agendas, Policies, and Practices. United States Institute of Peace Press (USIP), 2004. American Politics The United States Congress is composed of the Senate, the House of Representatives, and Committees. The Senate consists of 100 members, two from each state, regardless of population or area, elected by the people in accordance with the 17th Amendment to the Constitution (Johnson). The members include the Senate President, President pro tempore, Majority/Minority leaders, and whips. The House of Representatives consist of 435 members, which include the Speaker, Majority Leader, Minority Leader, and whips, elected every two years from among the 50 states, distributed to their total populations (Johnson).There are different kinds of Committees in the United States Congress: Standing Committees, ad hoc committees, conference committees, and House Rules committees. According to Johnson, the Article 1, Section 1 of the United States Constitution states that only the Congress has the power to make laws and to write all the laws that are required to make the Constitution into implementation. The Congress has also the constitutional power to regulate foreign and interstate commerce. It has the sole authority to raise, finance and regulate forces of the military units and to declare war.Moreover, Congress can alter the number of justices on the Supreme Court and can ascertain which cases the federal courts can hear by establishing limitations on their jurisdictions. It is Congress that played a role in the establishment of the departments, agencies, and bureaus that cover the majority of the executive branch. Most sources of legislation and proposed drafts of bills are conceived by a Member but may also come from various interest groups and private citizens and the President.These sources may come from the election campaign during which the Member had promised, if elected, to introduce legislation on a particular subject (Johnson). In addition, the executive communication has turned into a source of legislative proposals, usually in the form of a message or letter from a member of the President’s Cabinet, the head of an independent agency, or the President himself (Johnson). These legislative proposals are then forwarded to Congress with a request for their enactment (Johnson). In the Senate, a Senator usually introduces a bill or resolution (Johnson).If there is no objection, it is read by title and referred to the appropriate committee and is placed on the Calendar (Johnson). In the House of Representatives, the bill is assigned its legislative number and then referred to the appropriate committee. A committee will then ask the input of the relevant departments and agencies about a bill (Johnson). The committee may schedule a date for public hearings if the bill is of sufficient importance (Johnson). The subcommittee will consider the bill in a session, referred to as the markup session, after hearings are completed.Bills are read for amendment in committee by section and members may offer amendments (Johnson). Bills will be given consider ation by the entire Members of the House with adequate opportunity for debate and the proposing of amendments (Johnson). After passage or rejection of the bill by the House, the bill goes to the Senate for consideration. Votes on final passage may be taken by the electronic voting system. Every bill which shall have passed the House of Representatives and the Senate shall be presented to the United States President before it becomes a Law (Johnson).If the President approves the bill, he/she signs it and usually writes the word approved and the date (Johnson). If the President does not approve the bill, he/she shall return it, with his/her objections to the House and proceed to reconsider it (Johnson). When a law has been enacted, it shall be made known to the people who are to be bound by it (Johnson). Reference Johnson, C. W. How Our Laws Are Made. Retrieved May 22, 2009, from http://www. senate. gov/reference/resources/pdf/howourlawsaremade. pdf.