Baudelaire s Political Ideas Stem From The Hypocrisy Of...

Baudelaire’s political ideas stem from the hypocrisy of the ruling classes in France, which formed the anti-Republican sentiment that he felt created inequality and corruption in the government. Baudelaire believed in the power of aristocracy as the primary form of legitimate government. In this manner, Baudelaire found respect for the cleric (gatherer of knowledge), the soldier (the defender), and the poet (the creator) as the dominant political view of organized society. Furthermore, he viewed the people of the â€Å"professional classes† as slaves. For instance, the elite power of the poet is projected in the poem â€Å"Benediction† as a commentary on social and class status in Baudelaire’s aristocratic political view: Skyward, to where he sees a Throne blaze splendid, The pious Poet lifts his arms on high, And the vast lightnings of his soul extended Blot out the crowds and tumults from his eye (Baudelaire 11). In this monarchical view of the poet’s â€Å"throne† that is seen in the sky, Baudelaire is presenting his view of the true divinity of humanity through the eyes of a creator. This is an important part of the aristocratic and anti-republican view of the French government, which made Baudelaire an enemy of the state. Baudelaire did not believe in democracy or republican values because he felt that humanity was too corrupted and hypocritical to manage such as an advanced form of government. These are important aspects of Baudelaire’s political views that define the undermining

Why Do They Treat Me Differently - 1100 Words

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Ankle Joint Angular Kinematics Health And Social Care Essay Free Essays

string(31) " a length to width ratio of 1\." Kinematic information was obtained utilizing an eight camera gesture analysis system as participants ran at 4.0ms-1+5 % , angles were created utilizing the coiling method and the six available rotary motion cardan sequences. A popular method of quantifying the angular place of a stiff dynamic frame with regard to a mention frame is via the use of independent angles known normally as cardan or Euler angles ( Schache et al. We will write a custom essay sample on Ankle Joint Angular Kinematics Health And Social Care Essay or any similar topic only for you Order Now , 2001 ) . Cardan/Euler rotary motions are obtained by agencies of an ordered sequence of rotary motions ( Schache et al. , 2001 ) . Rotations are considered to happen about the axis of the section co-ordniate system. For illustration during an XYZ cardan sequence of rotary motions, the section is rotated about the X axes by an angle A, so rotates about a revolved Y ‘ by an angle B and so eventually rotated about a twice rotated Z † axes by an angle C ( Schache et al. , 2001 ) . For a given gesture, different cardan sequences can act upon the angular computations ( Cole et al. , 1993 ) . The International Society of Biomechanics ( ISB ) recommends that lower appendage angular kinematics be calculated utilizing an XYZ sequence of rotary motions, where Ten is flexion/extension, Y is abduction/adduction and Z is axial ( internal/external ) rotary motion ( Cole et al. , 1993 and Wu et al. , 2002 ) . Cole et Al ( 1993 ) based their recommendations around the apprehension that the first rotary motion should be the axis with the greatest scope of gesture, their consequences led to the recommended attack to give clinically relevant informations. However, the big sum of sagittal plane gesture during pace can encroach on the representation of motions outside the sagittal plane ( transverse talk ) , ensuing in greater than expected coronal/transverse plane articulation profiles ( Thewlis et al. , 2008 ) . As such it has been proposed that the XYZ sequence when applied to rotary motions outside the sagittal plane may non be the most appropriate method. In add-on to the normally used cardanic method, coiling angles can besides be used to depict the place of one mention system with regard to another ( Woltring et al. , 1985 ) . Using this technique a place vector and an orientation vector are defined and motion from a mention place is described in footings of rotary motion along a individual projected axis. This method is considered to be stable over any imaginable joint gesture, yet it is utilised infrequently as angular gesture utilizing this technique may non match with an anatomical representation that is clinically meaningful ( Hamill and Selbie, 2004 ) . The ankle articulation plays a cardinal function in the stance stage of the pace rhythm ( Areblad et al. , 1990 and Novacheck 1998 ) . In combination with the hip and articulatio genus articulations the mortise joint facilitates motive power and transmits forces and minutes during the stance stage when the pes is regarded as the interface of the human locomotor system with the environment. Therefore, motion of the mortise joint is an of import constituent of pace mechanics and as such the right reading of its motion is indispensable in kinematic analyses. A choice figure of probes have examined the influence that the method used to cipher segmental kinematics has on the representation of segmental kinematics during pace ( Schache et al. , 2001, Kavaduna et al. , 2000, Tupling and Pierrynowski 1987, Woltring, 1991 and Thewlis et al. , 2008 ) . Areblad et al. , ( 1990 ) and Cole et al. , ( 1993 ) compared ankle articulation kinematics in the sagittal, coronal and cross planes utilizing two rotary motion sequences where the first rotary motion was flexion/extension in both instances. However, these probes did non analyze the staying four rotary motion sequences and used a two camera set-up whereby the deliberate angles are sensitive to the alliance of the camera As such the most appropriate method for the finding of ankle joint kinematics during running remains unknown. This survey investigated the influence of the coiling method every bit good as the 6 available cardan sequences on ankle joint kinematics in the sagittal, coronal and cross planes. Method Eleven male participants volunteered to take portion in this probe ( age 19 + 1 old ages ; Height 176.5 + 5.2 centimeter ; Mass 78.4 + 9.0 kilogram ) . All were injury free at the clip of informations aggregation and completed an informed consent signifier. Ethical blessing for this undertaking was obtained from the School of Psychology moralss commission, University of Central Lancashire and each participant provided written consent. A statistical power analysis of pilot informations was conducted in order to cut down the likeliness of a type II mistake and find the minimal figure participants needed for this probe. It was found that the sample size was sufficient to supply more than 80 % statistical power in the experimental step. An eight camera gesture analysis system ( QualisysTM Medical AB, Goteburg, Sweden ) captured kinematic informations at 350Hz from each participant running at 4.0ms-1. Calibration of the QualysisTM system was performed before each information aggregation session. Only standardizations which produced mean remainders of less than 0.85 millimeter for each camera for a 750.5mm wand length and points above 4000 were accepted prior to informations aggregation. Velocity was monitored utilizing infrared photoelectric cells Newtest 300 ( Newtest, Oy Koulukatu 31 B 11 90100 Oulu Finland ) , a maximal divergence of + 5 % from the in agreement speed was allowed. Participants ran over a force platform ( Kistler, Kistler Instruments Ltd. , Alton, Hampshire, UK ; Model 9281CA ) , stance clip was determined as the clip over which 20N or greater of perpendicular force was applied to the force platform. The marker set used for the survey was based on the CAST technique ( Cappozo et al. , ( 1995 ) . Retro-reflective markers were attached to the right pes and shank in the undermentioned locations 1st and 5th metatarsal caputs, median and sidelong maleoli, median and sidelong epicondyle of the thighbone, with a tracking bunch positioned on the right shank. The tracking bunch was comprised of four 10mm spherical brooding markers mounted to a thin sheath of lightweight C fibre with a length to width ratio of 1. You read "Ankle Joint Angular Kinematics Health And Social Care Essay" in category "Essay examples"5-1, in conformity with the Cappozzo et al. , ( 1997 ) recommendations. A inactive test was captured to specify the pes and tibial sections, following which markers non used for tracking the sections during gesture, were removed. Kinematic parametric quantities were quantified utilizing Ocular 3-D ( C-Motion Inc, Gaithersburg, USA ) and filtered at 10 Hz utilizing a zero-lag low base on balls Butterworth 4th order filter. Five tests of ankle joint rotary motion during stance were averaged for each participant. Angles were created utilizing the coiling method and about XYZ, ZXY, XZY, YXZ, YZX and YXZ rotary motion cardan sequences referenced to co-ordinate systems about the proximal terminal of the section, where Ten is flexion-extension ; Y is ab-adduction and is Z is internal-external rotary motion. Descriptive statistics including agencies and standard divergences were calculated for each status. Differences in stance stage extremum angles and scope ‘s of gesture were examined utilizing perennial steps ANOVA ‘s with significance accepted at the P A ; lt ; 0.05 degree. The Mauchly ‘s sphericalness premise was violated in all instances and as such the grades of freedom of the F statistic were adjusted via the Greenhouse Geisser rectification. The Shapiro-wilk statistic for each status confirmed that the informations were usually distributed. Appropriate post-hoc analyses were conducted utilizing a Bonferroni rectification to command for type I error. Effect sizes were calculated utilizing an Eta2. Cohen ‘s suggestion sing effects sizes was observed ( little R A ; lt ; 0.3 ; medium R A ; gt ; 0.3 and A ; lt ; 0.5 ; big A ; gt ; 0.5 ) . All statistical processs were conducted utilizing SPSS 17.0. Consequence Figure 1 presents the average 3-D angular kinematics of the ankle articulation during the stance stage. Tables 1 and 2 present scopes of gesture and peak angles observed in all three planes of rotary motion as a map of cardan sequence. Table1: Mean ( and standard divergence ) scope of gesture ( deg ) for each rotary motion as a map of cardan sequence ( * = important ( p A ; lt ; 0.05 ) chief consequence ) n=11. @ @ @ Table 1 near here @ @ @ Table 2: Mean ( and standard divergence extremum values ) ( deg ) for each rotary motion as a map of cardan sequence ( * = important ( p A ; lt ; 0.05 ) chief consequence ) n=11. @ @ @ Table 2 near here @ @ @ The consequences indicate that important scope of gesture chief effects were observed for the coronal F ( 1.85, 16.66 ) = 10.04, P A ; lt ; 0.05, eta2= 0.53 and cross plane F ( 2.04, 18.39 ) =21.91, P A ; lt ; 0.05, eta2=0.71. Post-hoc analyses revealed that both coronal and cross plane ROM utilizing the YXZ and ZXY sequences was significantly greater than the others. Furthermore, it was besides observed that extremum angle chief effects were found for the coronal F ( 2.28, 20.48 ) = 82.99, P A ; lt ; 0.05, eta2=0.90 and transverse planes F ( 2.08, 18.72 ) = 80.49, P A ; lt ; 0.05, eta2= 0.90. Post-hoc analyses revealed that peak coronal and cross plane angles utilizing the YXZ sequence were significantly greater than the others. @ @ @ @ Figure 1 near here @ @ @ @ Figure 1: Representative mortise joint articulation kinematics in the a. sagittal, b. wreath and c. transverse planes as a map of cardan sequence. Discussion Euler/Cardan angles are used extensively within the Fieldss of clinical and sport biomechanics. To day of the month the consequence of changing the sequence of rotary motions has yet to be to the full investigated with regard to the ankle articulation composite ( Areblad et al. , 1990 ) . The intent of the current probe was to analyze the grade of sequence dependence associated with the cardanic method when depicting 3-D kinematics of the mortise joint. The consequences indicate that changing the sequence of rotary motions when detecting kinematics in the sagittal plane has no important affect on joint scope of gesture parametric quantities. This is unsurprising given the laterality of sagittal plane gesture pace ( Novacheck, 1998 ) . This concurs with the bulk of literature with respects to sequence dependent angles as the wreath and cross plane motions are little in comparing to the sagittal plane and therefore the potency for two-dimensional cross-talk is minimum ( Areblad et al. , 1990 and Thewlis et al. , 2008 ) . Leading to the decision that choosing the appropriate sequence of rotary motions is non an issue when look intoing kinematics in the sagittal plane. However, for the coronal and cross planes a important consequence was found in footings of both the scope of gesture and peak angle observed during the stance stage. The consequences of this survey with regard to the mortise joint articulation found that the ZXY and YXZ sequences significantly affected ankle joint kinematics bring forthing highly big values for both scope of gesture and peak angles. The mistake associated with these sequences is such that the kinematic estimations are anatomically unrealistic. It is interesting to observe that the two combinations which were observed to be significantly different from the others ( YXZ and ZXY ) each had X 2nd in the order of rotary motions. This was the instance even when the principal axis under probe is placed foremost, where it could be assumed that the comparative orientation ( of the chief axis ) would be minimally affected by the grade of sagittal plane gesture holding been placed before it in the sequence. However, when the wreath and cross plane profiles are observed it is evident that peak angles occur at or around maximal dorsi-flexion. Thus it appears to back up the being of two-dimensional cross-talk, and concurs with the findings of ( Thewlis et al. , 2008, Kabada et al. , 1990 and Blankevoort et al. , 1988 ) . However when X is placed last in the order of rotary motions it has small consequence on the magnitude of the and the coronal and cross plane articulation profiles appear to be independent to motion in the sagittal plan e. These consequences appear to oppose those reported by Areblad et al. , ( 1990 ) who reported that changing the sequence of rotary motions has merely a little influence on the angular computations. However nevertheless, observation of the angular profiles and statistical informations suggests that there appears to be minimum transverse talk from the sagittal plane in informations which uses the XYZ sequence to cipher coronal and cross plane kinematics. Another, proposed method of quantifying angular kinematics is to see the principal axis under probe. Whereby the sequence of rotary motions is selected based on the plane being considered, with X placed last during coronal and cross plane rotary motions to cut down its weighting and rarefy cross-talk ( Richards et al. , 2008 ) . This method may hold virtue and could function as an option to the ISB method as the consequences suggest that cross talk is minimum utilizing this technique, but future probes are necessary to find whether it p rovides any extra benefits to the XYZ sequence. It is clear from the consequences that different computational methods can give different angular kinematic forms. Based on these consequences it appears that at the current clip the ISB recommendations are the most appropriate for the representation of ankle joint kinematics during the stance stage of running, and as such its usage is encouraged. The findings may hold wider deductions for research workers utilizing Cardan angles as portion of their kinematic informations decrease protocol. In add-on the consequences suggest that the YXZ and ZXY sequences produce the greatest mistake and therefore the use of these sequences to quantify ankle gesture outside the sagittal plane is strongly discouraged. This survey emphasizes the demand for new methods which allow angular kinematics to be measured accurately. Therefore, guaranting joint map is represented right. How to cite Ankle Joint Angular Kinematics Health And Social Care Essay, Essay examples

All Things Matter free essay sample

All Things MatterTired of trying, Tired of lying, Tired of losing, yeah im smiling but inside im dying. Im G’Ahna, a 9th grader in high school and im a sister of 1 girl and 4 boys.Daughter of loving mom and caring stepfather my family matters to me i would die and kill for them even my dead although he wasn’t really there i wouldnt be were I’am today.Things matter to me including sports.I emphasize practice and try to accomplish my goals to have that mindset in a better future in life. Sports is one of my priority. Therefore, im always trying to get better at things. Sports matter to me cheerleading basketball is my passion to me now.I always liked sports growing up. Joining R.O.T.C going in I knew it was hard my mom done it my stepfather in my dad, my dad served military for some years. We will write a custom essay sample on All Things Matter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Its not easy or fun well sometimes, but i like the challenges in the activities. Its a better me in 2017-2018. My family plays sports in we all enojy it. Not only that my 1st and 2nd cousin all played sports in till this day does.That’s something we are trying to carry on.We can use that work and all the extra time in be active. We was raise to do things right and not be those drug dealing type of kids on the street.We all love to shop go to the mall in all but to give back to the family we are trying hard in trying to keep are family out the violence in the hood

Napoleon Bonaparte, Who Is Also Known As The Little Corsican, Was Born

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A Guide to Composite Materials in Boats

A Guide to Composite Materials in Boats Composite materials are broadly defined as those in which a binder is reinforced with a strengthening material. In modern terms, the binder is usually a resin, and the reinforcing material consists of glass strands (fiberglass), carbon fibers or aramid fibers. However, there are other composites too, such as ferrocement and wood resins, which are still used in boatbuilding. Composites offer the advantages of a higher strength-to-weight ratio than traditional wood or steel methods, and they require lower skill levels to produce an acceptable hull finish on a semi-industrial scale. History of Composites in Boats Ferrocement Probably the earliest use of composites for boats was ferrocement. This material was extensively used in the first half of the twentieth century for building low-cost, low-tech barges. Later in the century, it became popular not only for one-off home projects but also for production boatbuilders. A steel frame made of reinforcing rod (known as an armature) forms the hull shape and is covered with chicken wire. It is then plastered with cement and cured. Although a cheap and simple composite, armature corrosion is a common problem in the chemically aggressive marine environment. There are still many thousands of ferro boats in use today, however – the material has enabled many people to realize their dreams. GRP During the Second World War, just after polyester resins were developed, glass fibers became available following the accidental discovery of a production process using blown air on a stream of molten glass. Soon, glass-reinforced plastic became mainstream and GRP boats started to become available in the early 1950s. Wood/Adhesive Composites Wartime pressures also led to the development of cold-molded and hot-molded boatbuilding techniques. These approaches entailed laying thin veneers of wood over a frame and saturating each layer with a glue. High-performance urea-based adhesives developed for aircraft manufacturers were widely used for the new technique of molding boat hulls – typically for PT boats. Some adhesives required baking in an oven to cure and hot-molded hulls were developed, though there were size limitations governed by access to industrial ovens. Modern Composites in Boats Since the 1950s, polyester and vinylester resins have improved steadily and GRP has become the most prevalent composite used in boatbuilding. It is used in shipbuilding too, typically for minesweepers that need non-magnetic hulls. Osmotic problems from which early-generation boats suffered are now a thing of the past with modern epoxy compounds. In the 21st century, volume GRP boat production follows a full industrial production process. Wood/epoxy molding techniques are still in use today, typically for rowing skiffs. Other wood/adhesive composites have evolved since the introduction of high-performance epoxy resins. Strip planking  is one such popular technique for home boat construction: Strips of wood (typically cedar) are laid longitudinally over frames and coated with epoxy. This simple construction offers a cheap and strong build with a fair finish easily achievable by an amateur. At the leading edge of boat building, aramid fiber reinforcing strengthens key areas of sailboats, such as the bows and keel sections. Aramid fiber also provides improved shock absorption. Carbon fiber masts are increasingly common, as they offer major performance and vessel-stability benefits. Sailboats also use composites in their sail construction, with carbon-fiber or glass-fiber tape offering a flexible but dimensionally stable matrix to which synthetic sailcloth is laminated. Carbon fiber has other marine uses too – for example for high-strength interior moldings and furniture on super-yachts. The Future of Composites in Boatbuilding The costs of carbon fiber fall as production volumes increase  so the availability of sheet carbon fiber (and other profiles) is likely to become more prevalent in boat  production. Materials science and composite technology are advancing rapidly, and new composites include carbon nanotube and epoxy mixtures. Recently, a small naval vessel with a hull built using carbon nanotubes was delivered as a concept project. Lightness, strength, durability, and ease of production mean that composites will play an increasing part in boat construction. Despite all the new composites, Fiber-reinforced polymer composites are here to stay for very many years, though it will surely be in partnership with other exotic composites.

Frederick DouglassNarrative and Its Influence

In 1845, many white people did not consider that a slave was able to write their own autobiography. However, William Lloyd Garrison's preface is an evidence for Douglass that he wrote the book by himself. Douglass was afraid to stand up and tell his story, since he had no education and no public speaking skills. Garrison wants us to keep in mind that the most famous black man in the country is a former slave. This was a way of convincing the crowd of the wrongs of slavery and that slaves can become as successful as Douglass did. Douglass was born in Maryland in 1817, as a slave. He educated himself and was determined to escape from slavery. He tried to escape slavery once, but it was unsuccessful. He later made a successful escape of slavery in 1838. Douglass told his story about his own life in order to describe a slaves’ life as one. Bringing up his own parents was a way of explaining how slavery avoids slaves from having ordinary families. When viewing the slavery of Afric an Americans, some will deny the negative effect it had on the African slaves. However, in his Narrative, Fredrick Douglass makes it obvious that some of the slaveholding characters are damaged by slavery. Slavery in the United States began soon after English colonists first established Virginia in 1607 and lasted as an authorized organization until the passing of the Thirteenth Abortion - Is It Moral or Immoral Abortion – Moral or Immoral? I would argue that abortion is immoral. Abortion is a debate that continues day in, day out, year in, year out. We have laws that have been set into place, yet the debate continues. The opposing sides in the debate each strongly believe they are right. The pro-choice supporters see a woman's right to choose as central to the debate. The pro-choice advocates see the life of the baby as the most important concern. Very little middle ground exists on the issue of abortion. I. When Does Life Begin? [1] "Development of the embryo begins at Stage 1 when a sperm fertilizes an oocyte and together they form a zygote." — England, Marjorie A. Life Before Birth. 2nd ed. England: Mosby-Wolfe, 1996, p.31 Regardless of his attire or the tune of his hum, Staples is still a black man; and to racist America the look of prestige or nonchalance has little significance. It is his complexion that labels him a potential rapist, mugger, or murderer, not his clothes, car, or cash. Aside from the racial components of Staples' predicament, the fundamental characteristic of accommodation for acceptance plagues many of us. Staples has embarked on his own battle. The old jeans-wearing, silent-walking Staples is now a person of the past, pushed aside for his "less-threatening" counterpart. In accommodating for others, our motives tend to be based around the concept that upon changing we will alleviate our problems, yet ironically such modifications elevate them. Author Adrienne Rich grapples with feelings of incompleteness resulting from her family's attempt to conceal her Jewish culture. In her piece appropriately titled, "Split at the Root: An Essay on Jewish Identity," Rich illustrates the disheartening truth lying behind identity conflict: the feelings of confusion, division, and discontent. Rich explored her Jewish past in hopes of discovering and glorifying her true identity. Inspiration was also drawn from Rich's need to escape the stereotypes, the stigmas, and her father's Rules of proportion in Architecture and Ancient Greece Proportion is the essence of architecture, and its roots can be traced back to even the ancient Egyptian times. The first recorded information about the theories of proportion comes from Pythagoras’s studies on geometry, ratio and the musical scale. This knowledge has been further explored in relation to proportions of things found in nature, such as the discovery of the golden ratio, and the modulation of the parts that make up the human body. This knowledge is documented in Vitruvius’s treatice, De Architectura, which contains valuable information about how architecture was perceived in these ancient times. His ideas of the ideal proportions of greek temples, and its relationship to the modular system of the human body is most evident in the flawless harmony of parts that make up the Parthenon. In the mid-5th century BC Pythagoras studied the Greek string instruments, called the lyre and he discovered that two strings with the same length, tension and thickness will sound the same. When the strings are at different lengths, they will most likely sound bad (or dissonant). However, he discovered certain string lengths that were different from one another, but they sounded good (or consonant) when played together. For example when he halved one string, he realised that the notes sounded the same, but at different pitches. This was the discovery of the octave, or diapason, and can be represented as a ratio of 1:2.

Typologies of terrorism Essay Example | Topics and Well Written Essays - 250 words

Typologies of terrorism - Essay Example dent took place in April 1999 where an attack by 2 students at Denver, Colorado, resulted in the deaths of 15, while more than 20 people were wounded. This qualifies as a terroristic act as innocent civilians died, it was as a resultant of a stereotypical ideological goal and meant to create fear on the targets. The type of terrorism involved in the two terrorist acts mentioned above according to the definition by Malisow (2008) was state terrorism. This is so because the terroristic actions were directed towards the members of different country or even origin other than United States of America. The first terroristic act for example was directed towards Pakistan government by the United States government whereas in the second terrorist act, it was directed towards students who are different from the â€Å"normal† citizen of the United States (this was so because it was directed towards blacks and Hispanics by two students who were presumed to be white

Discuss how an understanding of the biology of insect pests assists in Essay

Discuss how an understanding of the biology of insect pests assists in the control of stored product pests - Essay Example It also helps to determine whether there is an infestation in a given building, what methods should be used to remove it, and provides wider methods for the creation of new pesticides and insect repellents. Reason For Entry, Method of Entry, and Location The primary reason that an understanding of the biology of an insect pests helps in exterminating the pests by giving an understanding as to why the insects would come inside that building at that particular location. Generally, these reasons include coming into buildings seeking food, water, or shelter from the elements. For example, cockroaches are attracted to moisture around pipes and drains, and so buildings with such sources of moisture are more likely to contain cockroaches than drier buildings. Ants, like cockroaches, are also attracted to leaking pipes or condensation build-up, and will enter buildings or rooms in search of this moisture. Ants are also attracted to food sources such as sugar, especially in cases of general p oor sanitation. Locating those food and moisture sources can help determine why the pests are entering the building. Once the reasons for the pests coming in has been determined, the moisture or food source can be removed. Removing the source of food or water should help reduce the number of pests coming into the building, and therefore reduce the difficulty of eradicating the infestation of that building. Once the pests inside have been eradicated and the reason new pests were entering the building is removed, there should be no future issues with that particular pest in that building unless a new source of food or water is presented (Juneau et al., 2010). Additionally, understanding the biology of the insects can help an exterminator understand how the pests are entering the building of infestation in the first place. Crawling insects generally come in through openings into the building which are accessible from the ground. For example, insects may enter buildings through cracks i n the exterior masonry or other building materials, or other gaps in the exterior of the building. Doors left open especially can attract ground-level crawling insects. Small gaps and openings around water pipes, heating and cooling air vents, and exterior windows and doors, can all provide access to crawling insects. However, it is not only ground-level access that will allow in crawling pests that should be looked out for. Exterior landscaping features such as climbing vines, bushes and shrubbery, or tall grasses, may all provide access for crawling insects to reach open windows or other access points that are higher off the ground and would not normally be accessible to such pests (Juneau et al., 2010). Flying pests could obviously access higher points such as open windows that are lacking screens or that have damaged screens with holes that could allow in insects. Looking for such points of access could help determine where the pests are entering the building; blocking these ent ry points would therefore help stop the pests from infesting the building. Understanding the methods the insects are using to enter the building will help determine where the blockades should be placed in order to stop them. Knowledge of the biology of the pests can also help determine what locations in the buildings may be hiding those pests, and therefore where to look to eradicate them. For example, the bodies of bed bugs are almost completely flat. This allows them to hide in

Genetically modified food Essay Example for Free

Genetically modified food Essay The past score of years has witnessed the astonishing revolution in the scope of plant breeding technologies. The biological technologies have regularly been utilized to create new gene combinations for progressing crop diversities. This intentionally modified by the manipulation of the DNA, and transformation of certain genes to create new variations of life, which called genetically modified (GM) food. There is presently some debate about whether to accept GM food. The disadvantages of GM food are labelling issue and transformation of certain genes might lead to environmental issues. Nevertheless, there are also a number of crucial advantages such as farmers could improve their economic benefits and GM food could improve the nutritional quality to prevent disease. Therefore, this essay will argue that GM food has obvious benefits to the society because it can improve economic benefits by trading and decrease allergenic. GM food has some negative consequences for society. The main adverse effect is that GM food may has mandatory labelling scheme issues. Research has shown that some manufacturers realize that implement a mandatory labelling scheme could cost a fortune (Steiner 2000, p. 158; Uzogara 2000, p. 188). Moreover, labelling of GM food could remind consumer these products are biotech, and this could lead to customer losses (Uzogara 2000, p. 188). Then, the concept of mandatory labelling scheme for GM food in some countries is uncertainty (Steiner 2000, p. 158). For example, manufacturers use misleading and confusing labelling to muddle the consumer such as ‘may contain genetically modified material’ (Steiner 2000, p. 158). Indeed, labelling issue for GM food is extremely difficult to implement in some countries, governments may promulgate a series of legislation to implementation. Secondly, transformation of new DNA technology used to create GM food that has environmental risks. This involves monarch butterfly early death and threatens beneficial insects, which would seriously destroy the balance of the ecosystem. Some species are suffering from premature death after insects fed by GM crops, and also this might result in difficulty in reproduction such as monarch butterfly and green lacewing insects (Steiner 2000, p. 153). Furthermore, Lemaux (2009, p. 528) has reported an experiment, Bacillus thuringiensis (Bt) in genetically engineered (GE) corn pollen could lead to colony collapse disorder that  accelerate the bees’ decline. It can be seen then that mandatory labelling scheme issue and environmental threats could give rise to some negative aspects for GM food. If one looks closely at the literature on this topic, nevertheless, there are a number of significant advantage points to GM food. One of these is that GM food could improve farmers’ economic benefits. According to Uzogara (2000, p. 193), GM food could be converted from annuals to perennials that would increase crop yields during the year. Perennial crops would lead to increased labor allocation, reduced labor costs, decreased fertilizer use and cost of production for farmers to make more economic profits (Uzogara 2000, pp. 193-194). For example, according to USDA surveys from 2001 to 2003, 79% of US farmers who choose Bt corn to increase yields (Lemaux 2009, p. 536). He also states that the Zaragoza region is one of the three leading GE corn-growing regions in Spanish and has at least 11.8% yield increase. Indeed, the profitability of farmers’ growth is approximately $69 per acre per year higher than conventional farmers (Lemaux 2009, p. 536). Especially, farmers in developing countries realized the most significant economic benefits from GM rice because large-scale farmers have higher yields and less infestation (Lemaux 2009, p. 536). This evidence shows that GF food farming is a potentially high profit margin business, and profitability often depends on factors relating to crop yield and pest infestation. Thus, GM food could change the status quo to achieve the highest profitability for farmers. Allied to this is the further advantage of GM food which could improve nutritional food quality. This involves nutritional content and health-enhancing properties of particular foods that might solve malnutrition and population health problems in developing countries. Uzogara (2000, p. 194) states that GM crops would help the population to reach their daily based requirements and prevent malnutrition. For example, cassava has been genetically modified to have a higher nutrient value (Anon cited in Uzogara 2000, p. 194). Furthermore, the nutritionally enhanced crops like iron, vitamin A and Beta-carotene dense rice could help alleviate malnutrition (Bouis 2007, pp. 80-83). For instance, according to research, approximately three million preschool children in developing countries are suffering from vitamin A deficiency that could lead to visible eye damage,  however, GM rice can increase vitamin A and iron which could prevent blindness (Bouis 2007, pp. 82-86; Ferber cited in Uzogara 2000, p. 194). It is clear that farmers could gain significant economic benefits through GM food because it would increase the yield and reduce labor costs, and nutritionally enhanced crops could help the population to prevent disease or malnutrition. Consequently, although GM food as one kind of biological technologie can have some negative outcomes for labelling and environment issues, GM food arguably has more positive effects. The effect of global trading that is a significant benefit to improve economy. The USA is the dominant exporter of both GM soybeans and GM maize, which are account for 76% of GM maize and 50% of GM soybeans exports (Nielsen et al. 2003, p. 780). He also claims that high-income Asia is the main importer of GM maize and GM soybeans that are 41% and 30% respectively. Moreover, Nabradi Popp (2011, p. 8) report that GM crops account for a great proportion from global trading that providing significant export profits for many countries. For example, The United States, Argentina and Brazil are the world’s three largest GM soybean and GM maize exporters with above 90% and 80% share of world soybean and maize trade (Nabradi Popp 2011, pp. 9-10). Similarly, the volume of global soybean trade increased from 85.4 to 87.9 million tonnes from 2009 to 2011, and the volume of global maize trade increased from 86 to 88.5 million tonnes in three years (Nabradi Popp 2011, p. 10). They also indicate that China has significant soybean importing volume that from 46 to 49 million tonnes during three years. Further to this, eliminating allergens as a result of GM food has been one of the prominent concerns among food quality and human health. Allergenic foods usually contain multiple allergens, such as milk, soy, peanut, crustaceans, fish, egg and tree nuts. According to Herman (2003, p. 1318), using GM to remove intrinsic allergens from soybeans that present in thousands of processed and prepared foods in developed and developing countries. He also claims that eliminate allergens from GM soybeans that has high relationship to the development of GM crops, and transgenic soybeans is a first step in solving food allergies (Herman 2003, p. 1 319). Otherwise, the alternative GM method to remove the allergen from food, for instance, some experiments to use gene suppression technology  attempts to reduce and/or eliminate allergens in rye and rice seed, and even use this measure to suppress an allergen in shrimp that is potentially dangerous to sensitive people (Herman 2003, p. 1319). Plausibly, GM food may eliminate allergen from all of food that would help people to stay away from food allergies. Although some argue that GM food may has some negative impacts to mandatory labelling scheme, there is considerable labelling of GM food still has positive impacts on consumer and manufacturers. Uzogara (2000, p. 188) claims that labelling for GM food would enable the consumer to avoid ethical, cultural, or religious reasons by certain foods. For example, Jews and Muslims usually insist on Kosher and Halal foods because the purity of this food can be guaranteed, which not contain pig genes (Uzogara 2000, p. 187). He further maintains that product quality can be improved by labelling, for instance, improved favour, longer shelf-life, and build brand identity. Similarly, according to General Labelling Directive, labelling for GM food that means this can be guaranteed by European regulation, and consumer can trust the information on the products (Andersen 2010, p. 139). Furthermore, while some authors claim that GM food has negative impacts on environment, Uzogara (2000, p. 195) indicates that GM food has still environmental benefits include protection against plant diseases, improvement of saline soil, and herbicide tolerance. GM food like tomatoes, squash and corn become virus resistant that against GM food destroying viruses or viral diseases (Uzogara 2000, p. 195). According to Bouis (2007, p. 80), GM crops can improve soil conditioning that is changing highly saline soils. Then, herbicides are effective against several target weeds also cuts conventional herbicide use significantly (Uzogara 2000, p. 195). While discussing GM food may has some negative impacts to mandatory labelling scheme and environment issues, the considerable positive consequences to improve global trading and remove intrinsic allergens can never be neglected. In conclusion, GM food clearly has advantages on economy and human health. While GM food lead to the mandatory labelling scheme hard to implement and has threats to the environment, success in the labelled GM food let some consumer more easier to choose food and make the crops stronger to against different threats. Furthermore, GM food References: Andersen, LB 2010, The EU rules on labelling of genetically modified foods: mission accomplished?, European Food Feed Law Review, vol. 5, no. 3, pp. 136-143, viewed 8 November 2014. Bouis, HE 2007, The potential of genetically modified food crops to improve human nutrition in developing countries, Journal of Development Studies, vol. 43, no. 1, pp. 79-96, viewed 28 October 2014. Herman, EM 2003, Genetically modified soybeans and food allergies, Journal Of Experimental Botany, vol. 54, no. 386, pp. 1317-1319, viewed 12 November 2014. Lemaux, PG 2009, Genetically engineered plants and foods: a scientists analysis of the issues (Part II), Annual Review Of Plant Biology, vol. 60, no. 1, pp. 511-559, viewed 11 November 2014. Nabradi, A Popp, J 2011, Economics of GM crop cultivation, APSTRACT: Applied Studies in Agribusiness and Commerce, vol. 5, no. 3, pp. 07-19, viewed 10 November 2014. Steiner, MP 2000, Food flight the changing landscape of genetically modified foods and the law, Review Of European Community International Environmental Law, vol. 9, no. 2, p. 152-160, viewed 11 November 2014. Uzogara, SG 2000, ‘The impact of genetic modification of human foods in the 21st century: A review’, Biotechnology Advances, vol. 18, no. 3, pp. 179-206, viewed 3 November 2014.

China Essay -- essays research papers

The World is forever in debt to China for its innovations. Ancient China was extreme advance and many of its discoveries are still in use today. This is what Robert Temple, the author of The Genius of China 3000 years of science, discovery and invention. The book is based on 11 main parts of Chinese innovation. Within these 11 categories, there are 3 main parts that contain the most significant inventions. Robert Temple concentrates the bulk of his examples in these three categories, agriculture, domestic and industrial technology , and engineering. Temple’s examples were not limited to these fields of innovation. The Chinese excelled in many other areas, including mathematics, warfare and transportation, to name a few. Although Temple wrote about eleven fields of invention, I feel that these three sections contain the greatest examples of Chinese innovation, and the debt that the modern world owes China.   Ã‚  Ã‚  Ã‚  Ã‚  The first main area is the field of engineering. Within this chapter, the development of iron and steel is the greatest achievement. The development of iron and steel led to other advances. By at least the 4th century the Chinese have developed blast furnaces to obtain cast iron from iron ore. This was 1200 years before the first blast furnace showed up in Europe. The reasons that the author gave to explain the reasons why the Chinese developed this technology are simple. The Chinese had access to large amounts of clay, the key ingredient in making blast furnaces. The Chinese also figured out that by adding a substance they called :Black Earth,† they could lower the melting point of iron.   Ã‚  Ã‚  Ã‚  Ã‚  Another major invention of the Chinese, that led to other achievements, is steel. The common belief today is that Henry Bessemer discovered the process of refining iron into steel. The fact is Chinese had developed the process to refine iron into steel in the second century BC The Chinese learned that by injecting oxygen into the blast furnace, they could remove the carbon from the iron. The Chinese called this process the â€Å"hundred refinings method† since they repeated the process that many times. The finished product was highly prized in China for its strength and ability to hold an edge on a sword. The Chinese would weld the steel onto weaker iron thus creating a strong edge and a su... ...gh the process has been refined. The suspension bridge, invented by the Chinese in the first century AD, is still the bridge of choice when one has to span a great distance. The greatest area of Chinese invention is in agriculture. The Chinese excelled in farming, not only did they discover the seed drill, they discovered row farming that is still used today.   Ã‚  Ã‚  Ã‚  Ã‚  I would recommend this book with one wants to read about the past glory of China and the huge potentional of the future. It gave in-depth views into each Chinese invention, while not over doing the techical explaination. The Author is clear and concise on his point, the modern world is in debt to the Chinese. He gave many examples of Chinese invoation, and how the rest of the world copied the Chinese. Not did the rest of the world copy Chinese inventions, they claimed that they were the first to invent it. The author opened my eyes to the greatness of anicent China. What the author, Robert Temple, did do gave me even more reason to respect China. The Genius of China 3000 years of Science, discovery, and invention By Robert Temple Book report by Mike Leung 600-82-1189

Garmin

GARMIN – Follow the Leader Garmin Global Positioning System’s (GPS), began as a brainstorming session between a few engineers playing a game of cards and has grown into a global technological phenomenon since its inception in 1989. Starting with only a handful of employees, Garmin has expanded its work force consisting of more than 7000 employees by 2007, all dedicated to the same objective; To create navigation and communication devices that can enrich our customers’ lives. As a group, the decision to choose Garmin was rather easy. We wanted to select a company or product that is relatively new in the consumers’ eye that can provide a distinct need in a market that is not over saturated by competitors. Garmin is considered an innovator in the GPS market and doing a study based on a well known, high quality product, provided interest between our groups. Garmin focuses on embracing lifestyles of their consumers, whether it be Automotive; helping people reach their destination with ease, Marine; supplying essential charts and data, Aviation, Fitness, Outdoor Recreation, to the ever evolving Wireless Smart Phone Applications, first time users quickly realize the cache of having a compact and portable unit, making their journey, wherever it may be more enjoyable. Market Segmentation Garmin is making strong progress in gaining the opportunity to serve a wide range of people in many different situations, whether it be driving across country on vacation, going for hike in a remote Mountain Park, setting Sail on the Pacific Ocean, or even going for a nice bike ride through a park. The diversity of the GPS system has really taken off in the past few years with the advancement of technology, which has really benefited Garmin in targeting â€Å"Whom we serve† Looking at the Segmentation Basis we have reviewed (Demographic, Geographic, Psychographic, and Behavioral) we can determine how Garmin Markets their broad range of products in the open market. Demographic – As a company, Garmin has a fairly broad Demographic Segment because of their multiple products. Garmin would segment its buyers into a non gender bias, over the age of 16, with all family life cycles included, with an average income, focusing on the baby boomers and the Y Generation because of its Technological advancement. Geographic – Garmin markets itself in certain regions around the world. These regions are; North America, Europe, Australia/New Zealand, Asia, and the Middle East. Garmin has a process which they call vertical integration, which allows Garmin to maintain a high level of quality and respond more quickly to the ever-changing marketplace. This is especially important in their Company Offices located in Kansas City, USA, Southampton, UK, and Sijhih, Taiwan. Psychographic – When trying to divide itself into different market groups, there are certain classes, lifestyles, and personalities Garmin would generally market. As a Social Class, Middle Class and up would be the main target, Lifestyles – Achievers would be the group that generally uses the Garmin product, due to their ambitious personalities. Behavioural – The behavioural segment basis is probably the most relevant when looking at whom to market their product to. Convenience is a tool that helps Garmin sell their product to provide them with accurate, thorough information, providing customer loyalty and regular use. A Garmin user would have a positive attitude toward the product as it is making there busy lives easier. â€Å"Garmin is a leading, worldwide provider of navigation, communications and information devices, most of which are enabled by Global Positioning System (â€Å"GPS†) technology. Garmin designs, develops, manufactures and markets a diverse family of hand-held, portable and fixed-mount GPS-enabled products and other navigation, communications and information products for the automotive/mobile, outdoor/fitness, marine, and general aviation markets. † – Garmin 2007 Annual Report to Shareholders. This statement proves that the R & D department for Garmin is on the right track, assuring the Shareholders they are targeting the correct markets in today’s world. Garmin has developed a unique style that takes a systematic approach to R&D. This helps them close the innovation gap with its competitors. They have been able to do this by partnering their manufacturing and engineering teams, and integrating their product development teams in a multidisciplinary fashion to work on newly approved designs. Garmin has achieved a market position and a history of consistent growth in revenues and profits by offering ergonomically designed, user friendly products with innovative features and designs covering a range of applications and price points.

E. M. Forster’s “A Passage to India” Essay

The chief argument against imperialism in E. M. Forster’s A Passage to India is that it prevents personal relationships. The central question of the novel is posed at the very beginning when Mahmoud Ali and Hamidullah ask each other â€Å"whether or no it is possible to be friends with an Englishman.† The answer, given by Forster himself on the last page, is â€Å"No, not yet†¦ No, not there.† Such friendship is made impossible, on a political level, by the existence of the British Raj. While having several important drawbacks, Forster’s anti-imperial argument has the advantage of being concrete, clear, moving, and presumably persuasive. It is also particularly well-suited to pursuit in the novel form, which traditionally has focused on interactions among individuals. Forster does much more in his book†¦than simply deride the intolerance of a few accidental individuals. He carefully shows how this intolerance results from the unequal power relationship between English and Indians, from the imperialistic relationship itself†¦ The process is best shown in the book in the case of Ronny, who has only recently come out from England to be City Magistrate of Chandrapore. Ronny was at first friendly towards the Indians, but he soon found that his position prevented such friendship. Shortly after his arrival he invited the lawyer Mahmoud All to have a smoke with him, only to learn later that clients began flocking to Ali in the belief that he had an in with the Magistrate. Ronny subsequently â€Å"dropped on him in Court as hard as I could. It’s taught me a lesson, and I hope him.† In this instance, it is clearly Ronny’s official position rather than any prior defect of the heart which disrupts the potential friendship. And it is his position in the imperial structure which causes his later defect, his lack of true regret when he tells his mother that now â€Å"I prefer my smoke at the club amongst my own sort, I’m afraid.† Forster tells us that â€Å"every human act in the East is tainted with officialism† and that â€Å"where there is officialism every human relationship suffers.† People cannot establish a friendship of equals when the Raj is based on an inequality of power†¦ The one possible exception to this process of corruption among Englishmen is Fielding. He is partially immune to the influence of the imperialistic power relationship because he works in education rather than government, and because, as he puts it, he â€Å"travels light†Ã¢â‚¬â€he has no hostages to fortune. Fielding establishes a friendship with Aziz and maintains it in defiance of all the other Anglo-Indians. There is some doubt, however, whether he can maintain this course and still remain in imperial India. He is obliged to quit the Club and says he will leave India altogether should Aziz be convicted. After Fielding marries Stella, thereby ceasing to travel light, and after he becomes associated with the government as a school inspector, he undergoes a marked change of attitude toward the Raj. It would surely be a mistake to continue, as several critics do, to identify Forster with Fielding past this point. The omniscient narrator pulls back and summarizes Fielding’s situation: â€Å"He had thrown in his lot with Anglo-India by marrying a countrywoman, and he was acquiring some of its limitations.† Like Ronny and the other English officials, Fielding begins to be corrupted by his position. Thinking of how Godbole’s school has degenerated into a granary, the new school inspector asserts that â€Å"Indians go to seed at once† away from the British. Fielding almost exactly echoes Ronny’s defense of the Raj to his mother when he excuses unpleasantness in the supposedly necessary imperial presence: he had â€Å"‘no further use for politeness,’ he said, meaning that the British Empire really can’t be abolished because it’s rude.† Fielding certainly did not start with a defect of the heart, but, as a result of his new position in the imperial structure, he is acquiring one. The English, of course, aren’t the only ones corrupted by imperialism. Although most of the Indians in the book have a nearly unbelievable desire to befriend Englishmen, they are ultimately turned from it by the political reality. Some succumb to self-interest. Mahmoud Ali, for example, seems to have been the first to subvert his budding friendship with Ronny by advertising their smoke to potential litigants. More often the Indians succumb to the fear, largely justified but occasionally erroneous, that they will be scorned and betrayed. The prime example is Aziz. He makes the horrible mistake of assuming that Fielding back in England has married his  enemy Adela and further that Fielding had urged him not to press damages against his false accuser so Fielding himself could enjoy Adela’s money. Aziz, of course, has been conditioned to expect betrayal from his experience with other Anglo-Indians, and this expectation provides an undercurrent to the friendship from the very beginning. After Fielding returns to India, and Aziz learns he really married Stella Moore, their relationship is partially retrieved, but the damage has been done. The new school inspector has shifted toward the Raj, and Aziz, now leery of all Englishmen, has become a nationalist, saying of India, â€Å"Not until she is a nation will her sons be treated with respect.†Ã¢â‚¬ ¦

What Being a Lame Duck Means in Politics

What Being a Lame Duck Means in Politics A lame duck politician is an elected official who is not seeking re-election. The term is often used to describe U.S. presidents in their second and final terms in the White House. The use of lame duck is often considered derogatory because it refers to an elected officials loss of power and inability to effect change. U.S. presidents are bound by the Constitution to two terms in the White House under the 22nd Amendment. So they automatically become lame ducks the minute their take their oaths of office for the second time. Most of the time lame duck presidents become mired in cursed second terms. Few have notched successes as lame ducks. Members are Congress are not bound by statutory term limits, but the minute they announce their intention to retire they, too, earn lame duck status. And while there are obvious downsides to being a lame duck, there are also some positive aspects to not being bound to the often-fickle whims of the electorate. Origins of the Phrase Lame Duck The phrase lame duck was originally used to describe bankrupt businessmen. Ebenezer Cobham Brewers A Dictionary of Phrase and Fable described a lame duck as â€Å"a stock-jobber or dealer who will not, or cannot, pay his losses and has to waddle out of the alley like a lame duck. By the 1800s the phrase connoted politically bankrupt or broken down elected officials. Calvin Coolidge is said to be the first American president to be called a lame duck, during his second term. The term is also used to described political patronage, as in lame duck appointments, or those made by an outgoing politician in his final days in office to reward friends and supporters. The term was also popularized during the debate over when the president was to be sworn into office. The 20th Amendment, which stipulates that the incoming president and vice president take their oaths of office on Jan. 20 after the election instead of waiting until March as they previously did, was called the lame duck amendment because it prevented the still-in-session Congress from acting behind the back of the incoming commander-in-chief. Lame Ducks Are Ineffective and Mischievous One common rap against elected officials who are on their way out of office is that no one takes them seriously. Its true that lame ducks see the power they once enjoyed in office great diminished whether its by an election loss, the approach of a term limit or the decision to retire. Wrote  Michael J. Korzi in  Presidential Term Limits in American History: Power, Principles, and Politics: The lame duck theory suggests that the closer a president comes to the end of a second term - if he or she is barred from seeking re-election - the less relevant the president is to the Washington scene and especially the congressional players who are critical to the passage of many presidential priorities. The lame-duck effect on the presidency is different than the lame-duck sessions of Congress, which occur  in even numbered years when the House and Senate reconvene after the elections - even those lawmakers who lost their bids for another term.   It is true that lame ducks and lame-duck sessions held under the cover of night and without public scrutiny have resulted in some rather undesirable consequences: pay raises, enhanced perks and more lavish benefits for members of Congress, for example. They also have provided an opportunity to pass unpopular legislation not mentioned during the campaign, since blame can then be passed on the non-returning members, wrote  Robert E. Dewhirst and John David Rausch in the  Encyclopedia of the United States Congress. Lame Ducks Have Nothing to Lose   Elected officials in their final terms in office have the luxury of being bold and being able to address serious issues by adopting often controversial policies. As Ohio University economics professor  Richard Vedder told  The Post  of Athens about lame-duckery: â€Å"It’s kind of like having terminal cancer. If you know your time is up and you only have two months to live, maybe you’ll behave a little different in the last 90 days.† Candidates who dont have to face the wrath of voters for unpopular decisions are often more willing to deal with important or controversial issues without fear of angering blocs of constituents. That means some lame duck politicians can be freer and more productive in their final days in office. President Barack Obama, for example, surprised many political observers when he announced in December 2014 that the United States would work toward  restoring  diplomatic relations with the communist nation  of Cuba. At the beginning of his second term, Obama angered gun-rights advocates when he  announced  23 executive actions designed to address gun violence in the United States  after several mass shootings occurred during his first term.  The most significant proposals called for universal background checks on anyone trying to buy a gun, restoring a ban on military-style assault weapons, and cracking down on straw purchases. Though Obama was not successful in having these measures passed, his moves did spark a national dialogue on the issues.

Environmental Biotechnology (biological process) Essay

Environmental Biotechnology (biological process) - Essay Example Researchers, Mekonnen M Demeke and group, at the Laboratory of Molecular Cell Biology, Leuven-Heverlee, and the Department of Molecular Microbiology, VIB in Belgium modified the genetic makeup of yeast strains through yeast mating. They developed not one but three strains of super-yeast that had both D-xylose conversion ability and high tolerance to inhibitors. The main strain, Ethanol Red, already has successful industrial application and the fact that these three super-strains are derived from it goes on to show that there will be no limitations to their industrial applications for synthesis of biofuel. After screening 580 Saccharomyces cerevisiae (yeast) strains, researchers identified a strain with the highest tolerance to inhibitors. It was mated with an industrial yeast strain GS1.11-26 (having the genetic background of Ethanol Red) that could ferment D-xylose. From the resultant hybrids, two strains (GSF335 and GSF767) were selected that had had high inhibitor tolerance as well as D-xylose conversion ability. Separately, a third super-strain was produced through meiotic recombination. The result – three super strains exhibiting â€Å"significantly improved tolerance to inhibitors in spruce hydrolysate, higher glucose consumption rates, higher aerobic growth rates and higher maximal ethanol accumulation capacity in very-high gravity fermentation, compared to GS1.11-26†. Simply put, these strains had better D-xylose conversion capacity and inhibitor tolerance compared to the primary strain. Engineering of traits for D-xylose conversion has been a very challenging proposition in industrial biotechnological research. Until now, methods such as evolutionary engineering and mutagenesis were attempted. However, researchers had little control over these processes. The development of yeast superstrain is thus a major breakthrough in this field. Further research on other such traits for the

Pranent-Community Involvement Program Essay Example | Topics and Well Written Essays - 1500 words

Pranent-Community Involvement Program - Essay Example California department of education is an organization that supervises public education. This organization aims to provide guidance, support, supervision and teaching sources with material; so that every student can get good education. Various researches have been conducted in order to study educational programs ranging from teachers` training strategies to parents awareness programs. By studying such education related programs it has been observed that all those programs which includes parents involvement in their kids` studies has been proven the most influential ones for the prosperity of children as well as for the success of educational system (Rutherford & Billig, 2010). Researches have shown that education standard has been improved because of the involvement of parents and family in school programs. There are five booming plans that have brought changes at National level in United States specifically in New York and California. Various benefits have been observed because of th is program and individuals belonging to education world appreciated parents for their interest in children studies and other activities that can help their kids to learn something innovative. It is considered very important that parents should try to understand the importance of their role in their child`s career and education because they are the only ones whose active participation can bring an incredible change in their children`s life (Rutherford & Billig, 2010). There are certain National Standards for parent community involvement programs which are based on qualitative research and are important for children`s career, parents satisfaction and for the success of educational institution. There are three motives of this standard that includes encouragement of parents and families for their active contribution. Secondly, to provide knowledge about all those influential elements, that can play vital part in such programs and also to give moral and material support to those institut ions that aim to raise their standard of education through various strategies and programs (Hurley & Tinajero, 2001). These are some important guidelines for principals and owners of the schools who wish to divert parents` attention towards child`s education through strategic programs. National standard intended to guide those people in very sophisticated manner who administer educational institutes because they have authority to deal with staff members and also they can apply such strategies within district level for parents to grab their attention as much as possible (Riley, Douglas, & Koop, 2004). According to amendments to community-based English tutoring program of California, when everyone plays its part to support learning system with full dedication, then children show positive response towards their studies and they show more interest in every school related activity. Many schools have adopted the program designed by California department of education which includes few bas ic goals. Their first goal is that they want to break all blocks that restrict parents` involvement. It is emphasized that parents should be made comfortable when they entered in school in order to encourage their spirit. All parents should be kept updated with their child`s academic progress (Hurley & Tinajero, 2001). To make it easier for parents to get information about institute and their kid keep updating websites or practice any other volunteer process that could

Development of Prostitution Essay Example | Topics and Well Written Essays - 1000 words

Development of Prostitution - Essay Example s â€Å"profession† vary greatly among those involved, the most common of which relate to poverty and destitution, although according to an unnamed Google-sponsored informative website (2010), other reasons such as a desire for drugs and/or alcohol, also exist. Despite its controversial nature, it is sometimes pondered whether its legalization would do greater harm than good. Thus, this article aims to discuss the pros and cons if ever prostitution were to be legalized, and to come up with a stand. Asia, America, Europe, wherever one goes, a very much active sex industry is sure to exist. Most industrialized nations have cities with their own red-light district, complete with clubs with neon signs, where those interested can experience a close encounter of the carnal kind. But regardless of where it occurs, prostitution is an issue worthy of note. Where it started, why it goes on, and why anyone would be drawn to it in the first place are just some questions people ask pertaining to this subject. An article by Iris Hickenbottom (2002) states that this particular trade dates back to ancient Mesopotamia, emerging in Victorian-era America in the middle of the 19th century. Public perception of the sex industry and of prostitutes in general varied greatly within this period, ranging from understanding and sympathy to indifference and finally to flat, outright rejection. While they had hitherto been thought of as life-draining demons in human guise, early feminists instead viewed them as victims of a male-dominated society – a viewpoint which slowly but surely altered the status of women all over. The same site goes on to note Dr. William Sanger, whose research on the topic was highly regarded due to being both accurate and detailed. Among the most important things he discovered was the general profile of a prostitute: they were said to mostly be in their late teens or early adulthood, and usually came from a background of poverty and illiteracy. Since at the time,

Powerful Poetry Essay Example for Free

Powerful Poetry Essay â€Å"Shall I compare thee to a summers day? Thou art more lovely and more temperate. † This line is from sonnet 18 and it is one of the best known of William Shakespeare’s 154 sonnets. William Shakespeare is the man who created beautiful poetry and he influenced people to create their own. In today’s modern day society, whether it’s widely read or not, poetry has the ability to be considerably moving and to truly touch people. Poetry is relevant and interesting in today’s society because it expresses a great array and depth of people’s feelings, it makes the reader connect with the poem, and it has a unique value. Also poetry is second-hand in music because in most hip-hop songs the words rhyme and create a rhyming couplet. Pursuing this further, poetry is a very powerful thing and it should be included in today’s up-to-date society. Unquestionably, all poems express feelings and emotions that the writer has dealt with throughout their life. Poetry expresses emotion in a form that delights the reader in one field and a feeling of sorrow in another. No other type of writing has the power or capability to arouse that much emotion other than poetry. Every living creature has feelings, but everything has its own way to express it. One way humans express their deepest feelings is through using their language to write and compose poetry. Reading poetry can help see through the eyes of the writer and see what they are experiencing. â€Å"This power rises from within, like the color of a flower which fades and changes as it is developed† (Shelley). This quote says that people have the ability to express themselves and that is very important in life. Poetry can make it easier to step into the shoes of someone else and learn about their personality. Without poetry, people would not be able to express their feelings and emotions and show people their real personality. Also poetry can help people by using it to release tension or stress that they need to get rid of. After a rough day at school, reading some poetry is a good way to get rid of the tension that is caused from problems such as taking a hard test or getting a lot of homework. Poetry helps soothe the mind and gives the mind a respite. Poetry uses the five senses to create a peaceful and pristine image using just words. One example that uses the five senses is, â€Å"All overgrown with azure moss and flowers/ So sweet, the sense faints picturing them† (Shelley). This quote uses the sense of sight because the image is so beautiful that your sense of sight faints. This style of writing can be very calming and comforting when read in a quite environment. Poetry is just like a car wash for the mind and soul; it freshens the soul and gives the mind a brand new start. Without poetry, there is one less way to get rid of stress and release tension. In addition to being used as a stress reliever, poetry is used to compose music. Just as in poetry, music also shares a basic element known as rhythm. In poetry there can be many different kinds of rhythm at the same time. Individual lines include unstressed and stressed syllables which is called a meter. There is also a rhythm between lines when metric patterns are repeated. In music, cadence is the beat of the music and the beats give the music its regular pattern. Poetry and music also display emotion and expression in their amazing works of art. Rap is made up of rhyme, rhythm, alliteration and many other poetic attributes. It is the most alike to poetry, however it is still music. Music without words is poetry, but not in the general state. Without poetry there would be no music because they are very similar and one can’t live without the other. Another reason why poetry is relevant is because it is much more entertaining to read compared to reading a book. Furthermore, poems are much more interesting to read instead of reading a long, boring book. Book plots and characters can be remembered for a limited period of time but poetry is one of the only forms of literary language that can be memorized. In the world of poetry, all of the rules that are applied to writing books are ignored and a piece of art is created that is completely unique. Poetry is such a short form of writing that the reader can think about the poem for hours without having their nose buried in a book. Poetry uses three ideas that are important to the text; mindful imagery, emotions, and language. Without these three things, poems would not have descriptions that use the five senses to create an image and people would lose interest in reading it. On the other hand, some people believe that poetry is irrelevant and this is why they are wrong. Some people might say that poetry is irrelevant and it is a waste of time. They might say that poetry is irrelevant because they believe it is boring to read and there is more people writing poetry than there is appreciating it. Poetry is relevant because it is much shorter and easier to read compared to reading a book. Poetry is very exciting to read because it expresses the feelings of the writer and puts the reader in the writer’s shoes. Poetry is enjoyable to read if you can understand and comprehend what is happening in the poem. Reading poetry is a surrogate form of reading and it is read by many people. Therefore, poetry is relevant and important in today’s society and should be respected more. In short, poetry is very relevant in today’s fast-paced, technological society for many reasons. Poetry is a way to let people express their emotions and show what their personality is like. Reading poetry is a salutary method to reduce stress and can relax the brain when it is overloaded with too many problems. Also poetry is a way to create a rhythm and there would be no music without poetry. Lastly poetry is much more entertaining to read compared to reading a long, boring book. Poetry is an aberration because it is much better than the standard. If poetry was never taught again in schools we would most importantly lose a vital language from our past. Poetry is only as relevant as the message of the poem, depending on how well it has been written. Works Cited Shelley, Percy Bysshe. Ode to the West Wind. Mcdougal Littell Literature. Evanston: Mcdougal Littell, 2008. 850-52. Print. Shelley, Percy Bysshe. A Defense of Poetry. Mcdougal Littell Literature. Evanston: Mcdougal Littell, 2008. 857. Print.

The Importance Of Capital Gearing Finance Essay

The Importance Of Capital Gearing Finance Essay Financing and investment are two major decision areas for a company. In the financial decision, the company concerns with determining the best capital structure. There are only two ways that a business can raise money debt or equity. With the right option, the business can minimize its cost and maximize company value. Bos and Fetherston (1993) described that determining debt and equity is an important financial decision faced by companies. The relationship between debt and equity is considered as capital gearing. Hence, in this report, the gearing ratio and its influence to WACC, company value and shareholder wealth will be assessed through the two major theories. Capital Gearing Capital gearing is a term describing the relationship between debt funding and equity funding in a company (Financial Management, 2007). The simplest formula for gearing ratio = (%) For example, ABC Ltd has  £1,000 of debt and  £2,500 of total assets. Thus, capital gearing of this company is: = 40% According to NGFL Wales Business Studies (2009), a company with high gearing is the one who has most of the funding coming from borrowing. It leads to reduced profits available to shareholders because of the increase in interest rate. Moreover, if interest rate increases, the financial costs of business will also go up, thereby total costs of business will rise. However, if a company has a high gearing, it is not really a bad thing. The company may need more money for their expansion activities, taking the opportunity to invest by borrowing at low rates. By using capital from borrowing, the company can take advantage of tax shields. A company with low gearing is the one who has most of the funding coming from investment of shareholders. It proves that the company is developing through reinvestment of profits, minimizing risk (NGFL Wales Business Studies, 2009). For example, in 2009, Apple Inc had Total debt/equity also known as gearing ratio at 0% (ADVFN, 2010). However, low gearing may indicate that the company is not aggressive enough to survive, and may not be seeking opportunities for growth (Pham, 2009). Thus, according to Accounting for Management (n.d.), the importance level of capital gearing is subject to various views. Effects upon WACC, company value and shareholder wealth Debt and equity Debt and equity are the two major sources of funds for a company. So, using of debt and equity proportions are the measurement tools for capital structure. (Glen and Pinto, 1998) In fact, cost of debt is generally less expensive than cost of equity. Nemethy (2010) provided two major reasons for that. Firstly, debt is a secured loan, which may be seized by the lender when the borrower cannot payment their loans. Meanwhile, equity is an unsecured loan because the shareholder cannot seize anything, they only have the right to vote at a shareholders meeting. Thus, an unsecured loan has to a higher interest rate than a secured loan. In other words, cost of equity is expensive than cost of debt. Secondly, Nemethy (2010) said that when the company issues debt in the form of bonds, they pay interest out to their investors, this interest has to be deducted by taxation. It is also called the debt tax shield. Conversely, when the company issues equity, they pay out dividends. These dividends represent corporate income, and they are subject to double taxation: one time by corporation and another time by shareholders. Thereby, the cost of debt is less than the cost of equity. With the two major reasons above, virtually all companies prefer to use debt than equity. However, the increase of debt leads to the increase of risks because when the company borrows money, they would be dependent on the lenders. UoS (2007) stated that a highly geared company may also experience difficulties in attracting fund from investors, who are not attracted by the risks involved in a high-geared company. At that time, the market price of the companys shares will fall. So, the company should choose debt or equity, and the influence of capital gearing to WACC, company value and shareholder wealth. We will assess this problem based on the two theories. The traditional view Modigliani and Miller The traditional view The traditional view of capital structure theory, based on observation and intuition, suggests that an optimum capital structure exists (Cornelius, 2002). In other words, the capital structure of a company has effected on the cost of capital. The more debt in the capital structure of a company, the lower of WACC is. The weighted-average cost of capital (WACC) represents the overall cost of capital for a company, incorporating the costs of equity, debt and preference share capital, weighted according to the proportion of each source of finance within the business (Cornelius, 2002). The formula to calculate WACC: WACC = [ x ] + [ x ] For example, a company has an issued share capital of 1,000 ordinary  £1 shares. The company wants to buy two machines with the price of a machine as  £1,000. As mentioned above, cost of debt is generally less expensive than cost of equity, so, we can assume that cost of debt = 15% and cost of equity = 20%. To buy two machines, the company needs to have  £1,000 for the second machine. There are two options for the company. Option 1: Issuing share (ungeared company) It means that the company will have 2,000 shares in total with  £1 per share. â‚ ¬Ã‚ ¢ Total equity = 2,000 x  £1 =  £2,000 = Total assets = 0% = 20% x = 20% Option 2: Borrowing (geared company) In this option, the company has  £1,000 from initial issuing shares and  £1,000 from borrowing with 15% of interest. â‚ ¬Ã‚ ¢ Total debt = Total equity =  £1,000 Total assets = Total debt + Total equity = 1,000 + 1,000 =  £2,000 = = 0.5 or 50% = [15% x ] + [20% x ] = 0.075 + 0.1 = 0.175 or 17.5% It is clear that when the gearing capital of a company increases, its WACC will decrease. According to Watson and Head (2006), the market value of a company is equal to the present value of its future cash flows discounted by its WACC. Market value of a company = Thus, when WACC of the company decreases, assuming that other factors are constant, the market value of the company increases, in other words, the company value and shareholder wealth increase. The traditional view is usually represented as follows. According to UoS (2007), from all equity financing, WACC first declines because debt financing is cheaper. At higher level of debt (beyond X), cost of equity increases because of higher risks out weights the advantage of cheaper debt financing. Hence after X, the WACC will rise. X will be the optimal debt ratio, where the company will minimize its cost of capital and the company value is maximized. In conclusion, gearing capital is very important because it effects to WACC, company value and shareholder wealth of a company. Modigliani and Miller view In 1958, American academics France Modigliani and Merton Miller (MM), presented a radically different view of capital structure theory. They demonstrated that two companies with identical investments would have the same value, regardless of their gearing capital (Cornelius, 2002). As a result, there is no optimal capital structure for a company. MMs propositions can be presented as follows. MMs proposition (without tax) UoS (2007, p.274) argued that with the same size and the same level of business risks of two companies: one company was ungeared company, another one was geared company. The value of an ungeared company equals value of equity in an identical geared company plus value of borrowings in an identical geared company. Therefore, the only factors that influence the value of a company are risk and return. Returns required by shareholders as reward for risk, , will increase at a constant rate as gearing increases due to the perceived increased financial risk. The rising would exactly offset the benefit of the additional cheaper debt in order for the WACC to remain constant. Lenders have security for their debt so they will not feel at risk whatever the level of gearing; therefore, is constant (ACCA F9 Financial Management: Study Text, 2009). This can be shown as a graph. The WACC, the total value of the company and shareholder wealth are constant and unaffected by gearing levels. No optimal capital structure exists. For instance, there are two companies with the same size and the same level of business risk: one company was ungeared company, another one was geared company. One machine got back  £200 profit yearly. The data of the two companies as follows. Ungeared Company Geared Company Share capital  £1,000  £1,000 Debt  £1,000 Machines 1 2 EPS at  £200 profit level 0.20p 0.25p If the investor in an ungeared company borrows  £1,000 at 15% interest, after buying the second machine, that company has the profit =  £200 x 2 =  £400. â‚ ¬Ã‚ ¢ EPS = = 0.4 p After receiving dividends from ungeared company, that investor has to pay interest for the lender with 15% interest per  £1. Hence, the actual return that investor can receive = 0.4 [15% x 1] = 0.25 p. This is the same return as that expected by shareholder in geared company and it had been created entirely by the ungeared shareholder. Therefore, in this proposition, capital gearing does not effect to the WACC, company value and shareholder wealth. MMs proposition (with tax) Because interest is tax-deductible, the use of debt finance gives rise to a tax saving (Cornelius, 2002). In 1963, MM developed a second version to take account of taxation. MM argued that the value of a geared company was the value of ungeared company plus the present value of any tax shield generated by using debt finance. = + T With:: The value of geared company : The value of ungeared company : The market value of debt T: Corporate tax rate With tax, MM view can be represented as below. According to ACCA F9FM (2009, p.1111), remains constant whatever the level of gearing. Likely as MMs proposition without tax, increases as gearing levels increase to reflect additional perceived financial risk. Because interest on debt is tax-deductible, WACC will fall when gearing increases. And: = x [1 ] = + (1 T) ( ) : cost of equity in an ungeared company : cost of equity in a geared company : cost of debt , : market value of debt and equity in the geared company T: corporate tax rate For example, considering two companies, one ungeared and another geared, both of the same size and level of business risk. Ungeared Company Geared Company  £  £ EBIT 1,000 1,000 Interest (200) PBT 1,000 800 Corporation Tax @25% (250) (200) Dividends 750 600 Returns to the investors Equity 750 600 Debt 200 750 800 Suppose that the business risk of the two companies requires a return of 10% and the return required by the debt holders in geared company is 5%, locking at the table above, tax relief on debt interest (also known as tax shield) in geared company = 800 750 =  £50 For ungeared company Market value of ungeared company will be the market value of equity. It will be the dividend capitalized at the equity holders required rate of return. = 750/0.1 =  £7,500 = 10% For geared company Market value of the equity of geared company is determined by the equity shareholders analysis of their net operating income into its constituent parts and the capitalization of those elements at appropriate rates = [ ] = ] =  £4,500 Market value of debt is determined by the debt holders capitalizing their interest at their required rate of return. = =  £4,000 â‚ ¬Ã‚ ¢ Total market value of geared company = 4,500 + 4,000 =  £8,500 According to MMs proposition with tax, it has: = + T = 7,500 + (4,000 x 25%) =  £8,500 Cost of equity in a geared company: = = = 13.33% = 5% x (1 25%) = 3.75% â‚ ¬Ã‚ ¢ = 13.33% x + 3.75% x = 8.82% According to MMs proposition: = x [1 ] = 10% x [1 ] = 8.82% And = + (1 T) ( ) = 10% + (1 25%) (10% 5%) (4,000/4,500) = 13.33% as per the dividend valuation model above. Thus, under MM theory with tax, there is an optimal gearing level at 100% debt in the capital structure. This is not true in practice because companies do not gear up to 100%. In his research, Cornelius (2002) argued that, in the real world, companies do not raise their gearing ratios to such extreme levels because the high levels of gearing may lead to higher risk of liquidation. Hence, for this proposition, there is no optimal gearing structure, in other words, WACC, company value and shareholder wealth do not depend on the level of capital gearing. The drawback of the two theories According to UoS (2007), both of the two theories may seem to be based on unrealistic assumptions. For traditional view, they ignored taxation, companies have complete choice between debt equity finance, and can change this decision quickly and without cost. It is impossible in the real world. The company could change their decision but it has cost and not quickly. For MM, it was built with assumptions that no transaction costs and individuals or corporations can borrow money at the same rate. In fact, individuals and companies cannot borrow at the same rate, since companies usually have a higher credit rating. Therefore, personal debt usually costs more than corporate debt and is riskier. Moreover, the theory does not mention the issue of bankruptcy costs and other agency costs, as well as personal income tax. Conclusion In conclusion, according to traditional view, gearing capital is very important because the changing of gear may lead to changes of WACC as well as company value and shareholder wealth. If gearing capital increases, WACC will fall. It leads to the increase of profits, in other words, company value will increases. Theoretically, there is an optimal capital structure, in which, the company will minimize its cost of capital and the company value is maximized. In fact, it hasnt found an optimal capital structure yet. Conversely, based on MM theory, it argued that the two companies with the same size and the same level of business risk would have the same value. It does not depend on their gearing. In other words, the level of capital gearing is not quite important for WACC, company value and shareholder wealth. Part B: Explain then critically compare and contrast two investment appraisal techniques indicating their merits and limitations in aiding the sound financial management of a company Introduction Nowadays, investing is very important for a company to survive. According to UoS (2007, p.63) an investment involves the outflow of cash at a point in time in order to obtain benefits in the future. Companies make these investment decisions in order to increase the value of the firm and maximizing shareholders wealth. However, funds are limited, thereby, companies cannot invest in all projects, they must choose between alternative investments. There are four commonly techniques for appraising capital investment projects. Payback Accounting rate of return (ARR) Net present value (NPV) also known as Discounted Cash Flow or DCF Internal rate of return (IRR) also known as Discounted Cash Flow technique In this report, we will look at payback and NPV as two investment appraisal techniques to find out how they can inform future projects, their merits and limitations, and which technique the company would prefer. Explanation of two investment appraisal techniques Payback Payback is the number of years required to recover the original cash flow outlay investment in a project (Brealey, Myers and Marcus, 2001). If the cash flows are constant, the formula is: Payback period = If the cash flows are not constant, the calculation must be in cumulative form. The payback is a commonly used method of evaluating investment proposals. Among alternative investments, the company should decide to invest in the project which payback period is shorter, in other words, this is a project which can recover the initial investment quicker (Ross et al., 2007). For example, ABC Ltd has two projects A and B which cash flows as follows. Year Cash flows from Project A ( £) Cash flows from Project B ( £) 0 (100,000) (100,000) 1 10,000 20,000 2 30,000 20,000 3 40,000 30,000 4 20,000 20,000 5 30,000 50,000 Using cumulative form, we have: Year Cash flows from Project A ( £) Cumulative ( £) Cash flows from Project B ( £) Cumulative ( £) 0 (100,000) (100,000) 1 10,000 (90,000) 20,000 (80,000) 2 30,000 (60,000) 20,000 (60,000) 3 40,000 (20,000) 30,000 (30,000) 4 20,000 0 20,000 (10,000) 5 30,000 30,000 50,000 40,000 It is clearly that after 4 years, project A has recovered all original investment and it will begin making the profit for the company from the firth year, so payback period of project A is 4 years. As for project B, after 5 years, the original investment has recovered and it also generates  £40,000 of profits, so the payback period of this project is: Payback period of project B = 4 + = 4.2 years Thus, following the rule of payback period method, ABC Ltd should invest into project A because payback period of project A is shorter than project B. It means that the company can recover the original investment quicker if they decide to invest into project A. Net present value (NPV) Based on Professional Management Education (2010), The net present value (NPV) method is the classic economic method of evaluating the investment proposals. It is discounted cash flow technique that explicitly recognizes the time value of money. It correctly postulates that cash flows arising at different time periods differ in value and are comparable only when their equivalents present values are found out. The formula to calculate NPV is: NPV = Initial Investment + = Initial Investment + With r is the rate of interest It should be made clear that the acceptance rule using the net present value (NPV) method is to accept the investment project if NPV is positive, to reject it if NPV is negative and consider accepting the project when NPV is zero. For instance, using the same data with example above, in additional, the original proposal of ABC Ltd uses a discount rate of 10%. Using discounted cash flow technique to the present value, we have: Year Cash flows from Project A ( £) Present value ( £) Cash flows from Project B ( £) Present value ( £) 0 (100,000) (100,000) (100,000) (100,000) 1 10,000 9,091 20,000 18,182 2 30,000 24,793 20,000 16,529 3 40,000 30,052 30,000 22,539 4 20,000 13,660 20,000 13,660 5 30,000 18,628 50,000 31,046 NPV NPV (A) = -3,776 NPV (B) = 1,956 > 0 Because NPV of project A is negative and that of project B is positive, in accordance with the acceptance rule, ABC Ltd should choose project B to invest because this project will bring more profits. Analyzing of two investment appraisal techniques Compare and contrast In every company, payback period and NPV are very important to evaluate the value of a proposed project before investing on it. Both of two investment appraisal techniques can measure the sustainability and value of long-term projects. From that, the company can make sound financial decisions. (DifferenceBetween.net, 2010) Regarding calculate technique, payback period is used to calculate a period within which the initial investment of a project is recovered (UoS, 2007). It is equal to the initial net investment divided by annual expected cash flows. For example, a company wants to invest  £10,000 in a new project and they expect to have annual cash flows of  £2,000, so the payback period of this project will be = 10,000/2,000 = 5 years. The shorter the payback period, the better investment is. A long payback period means that the investment will be locked up for a long time, thereby this project is relatively ineffective. Meanwhile, net present value (NPV) uses the time value of money to appraise long-term projects. According to UoS (2007), NPV uses the opportunity cost of capital to discount the flows of cash in and out, over the life of a project to give their value at the present day. NPV method focuses on the present value (PV) because NPV equates to the sum of present values of individual cash flows. For example, a project invests  £1,000 and it will bring cash flows of  £2,000 in the next year, so PV of  £2,000 = 2000/(1+0.1) =  £1,818 with discount rate of 10%. Thus, the NPV of this project = -1000 + 1,818 =  £818. When choosing between alternative investments, NPV can help to define the project with highest present value, and also apply the acceptance rule of NPV, if NPV>0 accept the investment, if NPV Ross et al. (2007) stated that NPV method removes the time element in weighing alternative investment, while payback period focuses on the time required to recover the initial investment. From that, payback period method does not assess the time value of cash, inflation, financial risks, etc. as opposed to NPV, which measures the investments profitability. In addition, although payback period method indicates the acceptable period of investment, it does not take into account what will happen after the payback period and their impact on total incomes of this project. But it is contrary to NPV. Thereby, NPV will provide better decisions than payback when the company makes capital investments. In fact, companies use more often NPV than payback period method. Merits and limitations Merits The most significant merit of payback period is that it is simple to understand and easy to calculate than other appraisal investment techniques (UoS, 2007). Comparing with NPV method, payback method uses fewer costs and less analysts time than NPV. For this method, an investor can have more favorable short term effects on earnings per share by setting up a shorter standard payback period. Professional Management Education (2010) believed that payback period can control investment risks because the longer it takes to recover the initial investment, the more uncertainties there will be during the recovery period. In addition, payback method focuses on the time to recover of the initial investment, so it gives an insight into the liquidity of the project. The shorter payback period, the higher liquidity is. On the other hand, Brealey et al. (2001) stated that NPV is more accurate and efficient as it uses cash flow, not earnings and results in investment decisions that add value. By discounting the flows, NPV can create the comparison between alternative investments, and then, making right capital decisions. NPV method is always consistent with the long-term objective of the shareholder value maximization. We can say that this is the greatest merit of this method. Limitations Payback Consider XYZ Ltd with two projects A and B. It has the same three years payback period, whose flows are as follows. Year Cash flows from Project A ( £) Cumulative ( £) Cash flows from Project B ( £) Cumulative ( £) 0 (100,000) (100,000) (100,000) (100,000) 1 20,000 (80,000) 50,000 (50,000) 2 30,000 (50,000) 30,000 (20,000) 3 50,000 0 20,000 0 4 30,000 30,000 100,000 100,000 Payback Period (Year) 3 3 Ross et al. (2007) stated that the first limitation of payback method is the timing of cash flows within the payback period. Looking at the table above, from year 1 to year 3, the cash flows of project A increase from  £20,000 to  £50,000, while the cash flows of project B decrease from  £50,000 to  £20,000. Because the large cash flow of  £50,000 comes earlier with project B, its NPV must be higher. However, as mentioned above, the payback periods of the two projects are identical. Thus, the problem with the payback period is that it does not consider the timing of the cash flows within payback period. It also shows that the payback method is inferior to NPV because NPV method discounts the cash flows properly. The second limitation is payment after the payback period (Ross et al., 2007). Lets consider projects A and B in the same three years payback period, project B is clearly preferred because it has a cash flow of  £100,000 in the fourth year. Thus, a problem here is that payback method ignores all cash flows occurring after the payback period. For the short-term orientation of the payback method, some valuable long-term projects may be rejected. NPV method does not encounter this problem because this method uses all the cash flows of the project. Because of the first two limitations, the payback method cannot maximize shareholders wealth. According to UoS (2007), the payback period method ignores inflation and discriminates against large capital-intensive infrastructure projects with long times, because it only focuses on the earliest time to recover the initial investment. Net present value (NPV) NPV is the true measure of an investments profitability. But, in practice, it still has some problems. The first limitation of NPV method is cash flow estimation (Professional Management Education, 2010). The NPV method is easy to use if forecasted cash flows are known. However, it is quite difficult to obtain the estimates of cash flows due to uncertainty. The second limitation of NPV is unrealistic assumptions (UoS, 2007). Under NPV method, there is a single market rate of interest for both borrowing lending and an individual can borrow or lend any amount of money at that rate. It is unrealistic, in practice, the interest rate for borrowing and lending is different and everyone has to follow the interest rate for each kind. For example, for Vietnam market in 2011, the interest rate for borrowing at 9% and for lending at 17% per year (Trading Economics, 2012). NPV also ignores transaction costs or taxes. Conclusion In a survey carried out by Graham and Harvey (2001), it was found that 74.9% of respondent companies use net present value (NPV) and 56.7% use payback period method when they appraise the investment projects. It means that in fact, NPV method is used more than payback period method. Techniques % Always or Almost Always Internal Rate of Return (IRR) 75.6 Net present value (NPV) 74.9 Payback period 56.7 Accounting rate of return 30.3 Source: Graham and Harvey, The theory and practice of corporate finance: Evidence from the Field, Journal of Financial Economics 60 (2001), based on a survey of 392 CFOs According to the survey of Graham Harvey (2001) and Sandahl (2003), payback period method is often used in small size companies. The major reason for this can be that payback period method is more simple, cheaper and easier to calculate. Small companies are only interested in the shortest time to recover initial investment because they often lack the source for fund. Moreover, the complexity of the other investment appraisal methods is always a barrier for the small company. However, net present value (NPV) is often used in medium and large size companies (Graham and Harvey, 2001). The major reason for this can be that these companies are interested in the profitability and time value of money than the payback period. They have the source of funds and consider maximizing shareholders wealth as their long-term objective.