Atomic bomb in Hiroshima Essay

The 6th of August 1945 was a day that people will always remember with terror. On this day, an atomic bomb was used by the U.S. against Japan, in the city of Hiroshima. This was the first time in world history. Before this sad event, Japan and the U.S. were having conflicts with each other because Japan tried to invade parts of Europe and the Pacific. In an attempt stop Japanese aggressions, the U.S. decided to stop the sale of war materials, such as iron and oil, to Japan. This angered the Japanese, and after peacetalks failed, the Japanese made a surprise attack on Pearl Harbor. After this attack, the U.S. declared war on Japan. The two nations fought until after both Atom bombs were dropped (Ellis, 381-382). Through the orders of U.S. President Harry Truman, 13 sq. km were deserted, 70, 000 of 76, 000 buildings were destroyed, more than 70, 000 people were instantly killed, 122, 000 died later, due to the effects of the bombings, and 246, 000 more were severely injured (Sà ¶hr, 2 ). In this essay I want to explain why I would not have bombed Hiroshima like Harry Truman did, although there might have been several reasons to justify his decision. Trumans main reason for dropping the bomb was that it was necessary to stop the war, since the only other way would have been an invasion of Japan which ,as he believed, would have caused an immense loss of lives on both sides. I believe it was not necessary, since war was already won in Europe, and the U.S. could now focus entirely on the war in the Pacific (Ellis, 381-382). The Japanese would have to surrender sooner or later anyway because the economy and military were totally destroyed, and there was no navy .The US had also set up a blockade that would prevent Japan from receiving any supporting materials, and the air force , or the remainder that still existed, was not able to fight the US-bombers (Sternal, 2). Therefore, there was no possibility for the Japanese to win or continue the war over a long period of time. Because the battle of Guadalcanal showed Truman that the Japanese were not going to surrender easily and would fight to their deaths, he claimed that  the bombing was justified by declaring that the bomb would save more lives than lost by a US invasion of Japan (Long, 2). This statement is only an assumption because nobody knew what the bombs effects were, since this was the first time somebody used it on humans. Another reason why this argument doesn’t justify Trumans decision is because he could not have known how many people would have died due to the fact that there never had been an invasion of Japan yet. Even if he could have known how many people would have died, I seriously doubt that he knew how many people the bomb would have killed as well, again, because this was the first usage of the weapon. Thirdly, even though the Japanese didn’t seem willing to surrender, there were several organisations who promised Japan would surrender if it be guaranteed that the nation should remain with the emperor as the main ruler. The US did not respond to this, but instead made the Potsdamer Declaration , which demanded instant unconditional surrender from Japan. At first the Japanese didn’t react, but on August 10th 1945, the government accepted the declaration and was willing to give in, when the US suddenly decided to accept the demands of the peacefighters in Japan. Through the acception of their demands, the Japanese peace fighters had a good reason to end the war (Long 2), following there was no need to throw the bomb and kill all the people. Another reason why the US dropped the bomb, which is often not mentioned because it displays the US in a â€Å"bad light†, is due to imperial rivalries. Although this attack had no influence on the further development of the war, except that the Japanese surrendered, (which they would have done anyway), it was very significant to the political development of the U.S.. The new weapon showed its main rival, the USSR, that the US had indirectly â€Å"won† the war, and also displayed the new power of the atom bomb. It’s hard to believe that it was a coincidence that the bomb was dropped when Stalin decided to get involved with Japan (Sà ¶hr, 2). Through this the US wanted to make clear to Russia that they were capable of defending their spheres of influence effectively. I think that the US was visioning Russia as a enemy rather than a ally. Truman described the war goals of the US as, â€Å"If we see that Germany  is winning, we should support Russia, but if Russia is winning we should support Germany and through this make them kill each other as much as possible†¦Ã¢â‚¬  (Sà ¶hr, 4). This does not only show that Truman didn’t care if Russia or Germany won, but was only interested in how the US benefited the most, which isn’t necessarily bad, but since the U.S. and Russia were suppose to be allies, America should have supported them instead of fighting against them. The US benefited from the atom bomb because now everybody, especially the USSR, knew how powerful they were. After the dropping of the atom bomb, Truman said the following, â€Å"Having found the bomb we have used it. We have used it against those who attacked us without warning at Pearl Harbor, against those who have starved and beaten and executed American prisoners at war, against those who have abandoned all pretense of obeying international laws of welfare†¦Ã¢â‚¬  ( Hiroshima: Was it necessary? 2). In this speech Truman lies. You can not forget that almost all the people in Hiroshima killed and injured by the bomb were civilians and definitely did not fit to his description. The Japanese attack on Pearl Harbor might have been a surprise, but was not intended to hurt civilians. And again, it was the first time the atom bomb was used, so nobody was informed about the consequences and the Japanese weren’t even warned that they were being used for the first â€Å"mission† of the atom bomb. Since all the above evidence shows me that the decision of President Harry Truman was a mistake, I think it is very sad that not one president has apologized to Japan yet. I believe the bomb was an act of revenge on Japan, rather than an act of necessity, done upon innocent civilians who had nothing to do with the war, but were merely used as â€Å"testing-objects.† The 6th of August 1945, also showed me that nations are able to use atomic weapons to display their power, and it can happen again. What makes the decision wrong, and the main reason why I would have decided differently, was the fact that the bomb was dropped over a city full of innocent people,  who were neither responsible for the actions of the government nor could they influence the treatment of soldiers in prison.

Diversity of People in United States: A Threat to U. S. Security?

I. IntroductionAs the globalization become rampant, people are migrating to and from different parts of the world. The United States (U.S.), being a well developed country in the world, apparently, different citizens from different countries and continents are trying to migrate and build their lives in the U.S.This could not only be seen in the modern days but also in the past era of the America wherein French people and African ethnics, from their migrant ancestors, are able to live now as American citizens. Being a divert country; different people are living within one geographical area. Considering that U.S. is a very politicking and powerful country, cold war and gaps with other nations are unavoidable.Along with this study, the main objective of this research is to know whether the culture of diversity in U.S. could be a threat to the national security of the country. Further, the study also aims to provide information regarding the different race and nationality of the people l iving in the U.S. Also, the purpose of the study is also to determine the implications of having U.S. citizens who are born in different places and nationalities.The study is conducted for the advantage of formulation of mitigating measures if there are negative implications showcased by the study.In addition, the study only encompasses people who are living within the geographic area of the country. It will be conducted in a specified (and short) period of time since the resources of the researchers are also limited.II. MethodologyThe research study will be using secondary data from the civil registrar and primary data through personal interviews with different professionals (e.g. demographers and sociologists) for thorough analysis of the study.The research design that the researcher will be using is the Experimental design with the combination of the Quasi – experimental design. First, the Experimental design because the study will still follow the scientific method in per forming data gathering. Second, the Quasi – experimental design will also be used because of the use of the statistics data and the adherence to lesser random research.The study will also be using cluster random sampling. This sampling method could be more appropriate with the study since subunits of the population that will be gathered will becoming from all states in the U.S. Thus, the study could have an equal representation from each cluster.The method of analysis that will be used in the study is the deductive approach or analysis. From the general information that can be gathered, each thread of details that could contribute significantly to the result of the study.Those data that are planned to collect are data of the migrants since after World War II. The numbers of the natural American citizensThe numbers of the natural American citizens will also be counted, meaning, these people are whose parents are both American citizens and born in the U.S. Also, the statistics of the different ethnic, races, and nationalities in different states will also be collected. From the national defense, some security measures will also be searched in addition to the recommendation of the study.III. Results and Discussion (Possible Implication of the Study)There could be many trends from the result and discussions of the study, if it will be conducted completely. There are numbers of implications of the study that could be shown like despite the fact that people in the U.S. are born in different places and nationality, it is not a threat to the national security of the country since the country, itself, has its own tight measure against the terrorism and any violent act to the state. Also, the study could also implies that a tighter security measure should still be implemented within for a safer lives of the U.S. citizens.ReferenceRetrieved on January 15, 2008 on Embassy of the United States database.

Summarise Entitlement for Early Years Education

1. 1)There are different types of childcare options for children in the early years 0-5 these are: The first one is an organisation called Surestart this helps families from the birth of their child, providing help and support when the parents really need it the most. This organisation works with the parent’s right from when the child is born helping the child with educational needs.They provide full day care, short term care; health and family support if the family is having complications at home such as financial needs then Surestart will do their best to provide the family with links of people and organisations that can help them. They also provide parenting advice, this is essential for some new families that have never experienced parenting before. They also provide training and employment advice to fund the new families which is desperately needed especially when the family contains young parents.The next one is nursery schools; usually nursery schools provide this type of education for children between three and five years old. Most of the time these type of nurseries are based at the surestart centres but they can also often be linked to local primary schools. The next childcare option is pre schools and playgroups, most of the time playgroups are run by voluntary organisations for children three and four years old. This means that children can have 15 hours of their free education at these organisations.The next type of childcare provision is day nurseries these are consistently placed in workplaces as people going to work can place their child in that provision complete a day’s work and then take their child home. These can be run by both the business they are placed at or they can be voluntary, this might be free but sometimes the businesses can charge. A different type of childcare provision is one used at the carers home these are called childminders. These are often used after school is finished and people still need to place their c hildren in childcare.In childminders they are only allowed to look after six children under the age of eight but only three children are allowed at a time under the age of five. The last and most unlikely child care provision is a nanny these provide childcare in the parents’ home and are usually paid for by the parents and usually used over a long period of time. These are often used if the parents are on a ‘work trip’ or got a complete a set amount of work over a period of time.

SarbanesOxley Paper Essay Example | Topics and Well Written Essays - 500 words

SarbanesOxley Paper - Essay Example Furthermore, the law covers significant corporate issues as follows ("Sarbanes-Oxley Act of 2002 - SOX, Investopedia" n.d.): In view of the provisions of the SOX, companies covered are required to submit report on their internal controls to ensure that they are compliant with the law in general. As per Section 404 of the Act, Chief Executive Officers and Chief Financial Officers must file Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports, the forms of which are published by the Securities and Exchange Commission. ("Sarbanes-Oxley Act of 2002 - SOX," n.d.) Moreover, the said section requires management to document and evaluate the effectiveness of their internal controls over financial reporting. As part of the reports, companies must provide verification that their internal controls have been appropriately assessed. Such provisions present new challenges to businesses, particularly in terms of documentation of control procedures related to information technology.

Starting and Developing a New Venture. Nature of Entrepreneurship Essay

Starting and Developing a New Venture. Nature of Entrepreneurship - Essay Example Improving further the existing ideas using creativity and innovation seems to be the most appropriate way of coming up with such ventures. In spite of this, some entrepreneurs still find opportunities around them, which they develop as new ideas. A new venture does not necessarily have to mean a new business altogether. It could be a new idea in a big company’s department, or a new product developed by an existing company. Improving on an existing product still encompasses entrepreneurial skills and innovation. However, starting a small business entity requires patience and strong entrepreneurial skills. The development of an idea to a big venture requires patience and courage. Big and established businesses in the same industry will try to push the new entrepreneur out of the business through packaging and price battles. Additionally, the giants will try to prove of experience in the industry which they already have their customers. To win customer confidence, the entrepreneu r should ensure quality in their products and competitive pricing. Waging such a tough war requires commitment and dedication by the entrepreneurs. In exploring this topic of starting and developing a new venture, this paper will look at the entrepreneurial skills and careers of two of the worlds’ most successful entrepreneurs, Stelios Haji-Ioannou of Easyjet and Richard Branson of Virgin. Many scholars have written about entrepreneurship. According to oxford English dictionary an entrepreneur is a person who attempts to make profit by taking risk through an initiative. Richard Cantillon is credited to be the originator of the word â€Å"entrepreneur† in the year 1755 in his book â€Å"Essai sur la nature du commerce en general.† Stokes & Wilson (2010, p. 1) believes that entrepreneurship is more than just the business of making money. According to Sjovoll & Skogen (2010, p. 8), the creativity and innovation exhibited by the members of a society and at family le vel are forms of entrepreneurship. Hardly do these talents get noticed however, until an idea is put into action. A visible entrepreneurial idea is called a venture. The different skills and attributes portrayed by a person makes them entrepreneurs, while the ability of a person to see an opportunity where other people cannot see one defines the person’s entrepreneurial skills (Sarasvathy 2004, p. 521). There exists a distinction between entrepreneurship and Intrapreneurship, which is a rather new term in the corporate world. While entrepreneurship defines both the act and the art of undertaking innovations that include introducing new things especially in the business acumen, Intrapreneurship is the act and art of entrepreneurship in large organizations. Employees who undertake to develop their organizations through creative ideas such as product development are referred to as intrapreneurs. Nature of Entrepreneurship A lot of arguments have been raised regarding the nature of entrepreneurship. While some experts believe that great entrepreneurs are born, others believe that the best entrepreneurs are trained (Pittaway & Cope 2007, p. 212). However, the argument of whether entrepreneurial skills are an inborn talent or are a learned and acquired through the process of experience and education, different accounts of the careers of successful entrepreneurs provides answers to this. According to scholars though, the best entrepreneurs are trained. Greene & Mole (2007,  p. 14-20) strongly believes supports this. According to them, entrepreneurship as a process does not end in a person’

Analysing the digital marketing strategy of two companies Essay

Analysing the digital marketing strategy of two companies - Essay Example The navigation bar helps customers in going through a number of advert materials that might be influential in the decision that they finally make. The site also makes it clear that the shop makes free shipping and has a simplified return process. The site makes it clearly evident that they do target female customers given the fact that all their advert materials display female items. In this case, it might be said that the main reason behind targeting female customers is that women are more likely to spend time online looking for items that they like are compared to men. Singer22.com focuses on female fashion products. The pictures of celebrities wearing some of the brands sold at the store are used strategically to lure customers who are fans of these celebrities. This is something that lacks in some retailer sites. However, this site might be said to be lacking shortcuts to connect to the stores social media accounts such as Facebook and Twitter. On the first site someone can easily get the impression on exactly what this site is about. Someone will easily realize that the shop specializes in sportswear and footwear. This is because the images used are a perfect replica of an image that would attract anyone who was looking for sportswear and footwear. The use of models who appear to be sportsmen seem to be a good idea because it gives the impression of what a customer should expect from the store. The navigation bar helps online customers in viewing the advert materials that are used in the sites. The mode of categorization is also highly helpful in this case. The site categorizes its dashboard into: new arrivals, men’s, women’s, Kids, Release calendar, Brands, collections, and find a store. These options make it easier for a customer to get what they want without having to go through all the items that are available in the store. The find a store option is important in enabling customers to locate

Analyze how innovation, design, and creativity at Mcdonalds support Research Paper

Analyze how innovation, design, and creativity at Mcdonalds support the organizations goals and objectives - Research Paper Example When it comes to its design of leadership, McDonalds top management has ensured that they are customer oriented and hence has engaged in corporate social responsibility to work hand on hand with its customers who are part of the larger community in order to fulfill its values and objectives. This step has increased the fame of the food stores and even increased its customer base. McDonalds have also invested in having different designs of their worker’s uniforms depending on the occasion or where they are serving their customers, this range from entertaining children in their numerous playgrounds and even serving customers in their dinners. Their creativity is evident from their logo which is unique and identifies it wherever it is. They are also creative in their advertisements and in the advertisements they sponsor. McDonald’s different designs of their restaurants including drive-in ones that serve the customer needs wherever they are is also an indication of their creativity and which goes a long way to fulfill the goal of McDonalds of serving fast food to all people and at their own

The Importance of Motivation Research Paper Example | Topics and Well Written Essays - 1000 words

The Importance of Motivation - Research Paper Example The researcher states that motivation applies in many areas including the classroom, working place and even at the home place. This paper will discuss the importance of motivation in the mentioned areas, the positive effects of motivation and the happenings if there is no motivation. In a classroom with no motivation, the students with less learning capabilities or rather those who are slow in learning get disadvantaged. They become frustrated and bored with assigned tasks that they cannot handle. These students tend to have little interest during class time thus their concentration lowered. Their view of the importance of education is changed and such students will take it as a burden. Their attendance for classes decreases while some can even stop schooling. In a classroom, motivation comes in where the students feel some sense of belonging. The teachers base the syllabus according to the interests of the students. The students instructed using different approaches. Some theory wor k put into practice to break the monotony of being in a classroom. The students have the opportunity to make decisions about how they prefer to learn a given subject or topic. Motivation in a classroom is important since it has a positive result in the long run. The desired achievements of success attained. The gap between the fast and slow learners brought closer. The courage, pride, behavior, and performance of motivated students generally rise compared to those who are not motivated. A workplace is a social place where combined capabilities or different individuals bring out a tangible effect. Motivation at the workplace is all about what and how workers want to work. It entails what they want to be introduced, improved, or abolished for them to work comfortably. Lack of motivation in workplaces brings in headaches to the managers and employers, as the employees do not produce the best. There arise issues of low profitability, company failures, and thus closure due to low product ion.

Leadership theories, leadership style and skills Essay

Leadership theories, leadership style and skills - Essay Example This research will begin with the statement that leadership is a sequence, a process which has different elements intact to it, prevailing towards the successful attributes of a true leadership quality. These elements of leadership are of three types- the leader, the following group or the followers and finally the substance. Leadership qualities are measured on the basis of employees’ performance and their job satisfaction. A leader can be called a successful torch bearer only if his/her followers equally contribute towards the growth of an organization. Leadership in itself is an important quality but there are certain factors which define the true leadership qualities a leader should possess. These essential components to developing leadership qualities at par are: a) Setting an example and motivating others, b) Finding a solution to doubts and ambiguities, c) Being ethical, d) Bringing in the desired change, and e) Managing cultural assortment. Teams and groups have become an important part of an organization and different leadership theories have greatly influenced such practice. Leadership and its role within a team greatly inspire the organizational culture and also ensure that the team attains success and the overall output is effective. A leader has certain important leadership traits such integrity, self-confidence, intelligence, and determination. Steve Jobs and Jeff Bezos can be said to be the pioneers of innovation, visionary and determined personalities to bring about a change in the way business functions.... It, somehow fails to explain the same in case of people who possess the traits of leadership but are not the leaders (Leader today, 2012). Contingency Theory: This theory believes that there is no single solution to leadership attributes as it may vary from time to time. The style of leadership may change from one form to another depending on the situation. This theory emphasises on the two leadership styles, the task-oriented and people-oriented (McShane, Glinow, & Sharma, p. 465). Further, leadership approach is said to be affected by various internal & external factors. Situational Theory: Situational theory of leadership exhorts that for an emphatic leadership the two valuable aspects to be considered at the time of decision making are management and leadership deed. This theory comprises four styles of leadership which are namely: Delegating, Telling, Participating and Coaching (Betathetapi, n.d). Behavioural Theory: This theory puts forth the idea of leadership on the basis of behavioural pattern depicted by the leaders in various situations. This theory also consist four contrasting leadership styles and these are: Responsibility of task, Responsibility of people, Directive Leadership, and Participative Leadership (Infed, 2011). Transformational Theory Transformational leaders not only contribute towards the growth prosperity of the organisation but also inculcate the organisation’s cultural and other values in their followers (Marquis, Huston, 2009, p. 43). Democratic Leadership Theory Democratic leadership style encourages and supports the people. It believes in creating an environment in the organisation where the employees are motivated to indulge themselves in building

Foreign policy Essay Example | Topics and Well Written Essays - 2250 words

Foreign policy - Essay Example China’s economy has grown steadily over the past thirty years; it is the nation with the highest level of foreign reserves currently. The country is acknowledged as the manufacturing capital of the world with a number of exports that rivals most nations of the world. A number of the issues associated with China’s prosperity have emerged; a number of them are predominantly ideological and social. The Chinese government has struggled with internal conflicts between itself and Tibet as well as challenges with Taiwan. Criticisms have also been brought out against the country concerning cyber security as well as its respect for democracy and human rights. For the first time in history, Australia must engage with a centre of power that lacks political and cultural similarities to the nation. In the past, major investors in Australia were largely democratic and western, so it was not difficult for foreign policy experts to forge partnerships between these nations. However, China is a unique case for the country because of the unconventional nature of its social-political climate; some reconciliations and transitions must take place before sustainable relations can be reached (Camilleri, Martin and Michael, 2013). China and Australia’s symbiotic association can largely be attributed to Australia’s mineral resources and China’s huge demand for these resources. On the other hand, several Chinese students come to Australia to acquire a higher education while other older citizens think of Australia as a preferred tourist destination. Australia has been influential in getting China to participate in multilateral institutions, most of which dwell on regional cooperation. Now the largest import source for Australia is China as it brings in about 15.3% of the nations’ inputs. Goods exchanges are not one-sided among these two nations as Australia exports 22.6% of its items to the above country (Capling, 2008). Regardless of the

The prevention and reform of prostitution in Victorian England Essay

The prevention and reform of prostitution in Victorian England - Essay Example in Burns). Enduring the pains of poverty, these women found themselves incapable of reconciling with Victorian ideals of purity and get into prostitution. For them, earning for a living was more immediate and harsh reality (Cooper 6).However, society and state always put considerable efforts to curb and regulate the practice. The paper discusses different forms of regulations and reforms that were implemented to prevent prostitution in Victorian England. During Victorian age, England experiences economic and social issues which were accompanied by industrialization (Haggard qtd. in Burns).The paternalistic Victorian society was inclined towards wealth accumulation in the form of property and was rigidly divided into classes. Wealth was concentrated in a small upper-class who was ignorant of poverty and poor. Victorians had puritanical conscience when it came to gender and sexuality (Pearson 11). Men and women owned entirely different spheres of society. Public sphere belonged to men while women belonged to private sphere or home(Anderson 13).Those who were outside private spheres were considered public property. According to Rubinstein, absence of factory work, dock and construction workers, sailor population on shore, immigrants and slumming city male experienced women entering into prostitution as profession (11 qtd. in Burns).Economic insecurity compelled even the married women to work as prostitutes during low times of their seasonal works 1(Cooper 30). 1. Major Causes of Prostitution It is often believed that the men who seduced and urged women to get into prostitution were upper-class male and victims (girls) were either very poor or their domestic servants. However, Bartley argues that such ideas of seduction are not more than myth (4).Some stress that men enticed young girls with money and or toys or procured them from brothels by convincing them that they will help in entering the domestic service. Reformers believed that female child between the ages of eleven to fifteen were either kidnapped or lured into prostitution; approximately four hundred men earned their livelihood by doing this. However Bartley doubts any of such causes of prostitution because he asserts they lack evidence, he asserts that most of the girls were convinced by other girls in the trade (4).Drinking is also closely linked with the practice because it lowers the moral values and most women were considered to be drunk when commit it first time. Rescue workers, missionaries, magistrates, policemen, law officials, and reform workers believed that there were complex social, psychological, economic factors are involved, in addition to the idea that prostitutes were the victims of social injustice and male sexual profligacy (Bartley 5).Religious reformers believed in training and reforming girls who repent. They also strengthened the repeal movements (McHugh 187).Numerous evidences; however, confirm poverty and economic reasons as the major contributing factor to prostitution. For instance, a prostitute known as ‘Swindling Sal’ reveals the reason of her coming into prostitut

Development of Modern Transport Aircraft Essay Example for Free

Development of Modern Transport Aircraft Essay Introduction This document is presented to compare the two commercially successful and super-efficient airplanes, the Boeing 707-320B and Boeing 787-9. This document will identify the key innovations in airframe and propulsion technology, and also further discuss on why the basic design and appearance of aircraft remain unchanged over 50years. Source: http://boeing.com/commercial/707family/product.html http://boeing.com/commercial/787family/787-9prod.html Innovations in Airframe Throughout the years since aircraft was created, engineers are constantly improving the efficiencies, durability and speed of its Airframe. From the beginning of 1920s, the all aluminium structures to the high-strength alloys and high-speed airfoils in the beginning of the 1940s. However as flying becomes more commercialised, people were not satisfied with just travelling at higher speed; they want to travel a longer distance with lesser fuel burnt! Hence, by the beginning of 1960s and 1980s, long-range design air frames and light weight composite researches were developed respectively. The materials used to construct airframe ideally require light, durable characteristics and at the possible lowest cost. The Boeing 707-320b airframe is constructed mainly using aluminium. The properties of having high tensile strength, light in weight, easily alloyed with other various metals, make aluminium very favourable in meeting the requirements of the aircraft construction. Many suggested that they would much rather fly a metal plane then a plastic one. However, as for Boeing 787-9, it is made up as much as 50% of composite material, approximately 32000 kg of carbon fiber reinforced plastic made from 23 tons for carbon fibre. These composites used to construct the B787 is not like any common plastic, it is stronger, lighter and offers greater strength to weight ratio than anything else. The boldly introduced airframe construction weighs 20% lighter than the conventional aluminium designs. This approach allows the airplane to carry more payloads and fly a further distance. In addition to the overall weight saving, moving to a composite primary structure also promises to increase resistant to fatigue and corrosion, reducing both the scheduled and non-routine maintenance burden on airlines. Source: http://bintang.site11.com/Boeing_787/Boeing787_files/Specifications.html http://en.wikipedia.org/wiki/Airframe http://www.boeing.com/commercial/aeromagazine/articles/qtr_4_06/article_04_5.html Propulsion Technology With rising fuel prices, all airline operators hope for an engine with low fuel consumption. The B707-320B uses 4 Pratt and Whitney JT3D engines. Each of these low-by pass engines could only produce 80kN of thrust. In the making of aircraft engines in the early generation, there were many constraints. Materials and technology were not developed and advance enough to overcome those limitations. On the other hand with mature technology now, the B787-9 uses a standard electrical interface that allows the aircraft to be fitted with either Rolls Royce Trent 1000 engines or General Electric engines. Each of these high-by pass engines produces 240 to 330kN of thrust. The aim of being compatible to these 2 models of engines is to save time and cost when changing engine types. Departing from the traditional aircraft design, the B787 also operates without the use of bleed air. The approach improves engine efficiency, as there is no loss of mass airflow and therefore energy from the engine, leading to lower fuel consumption. The B787 claimed to be 70% more fuel efficient than the company’s first 1950s-era four-engine Pratt Whitney JT3D-powered B707 and 20% more fuel efficient than the modern aircraft of the similar size. Basic Appearance The basic appearance and design of B787 appears unchanged from its predecessor B707. The basic swept wing, under-wing engine configuration has served as the basis for all of almost all of the new aircraft’s airframe. The reason is because the way how aircraft is going to fly and how lift is being created is not going to change considerably. Changes and improvements are often instead made on aircraft weight, performance, noise and passenger comfort. Source: http://en.wikipedia.org/wiki/Boeing_787_Dreamliner http://www.multilingualarchive.com/ma/dewiki/en/Boeing_787#Wirtschaftlichkeit Range Equation Breguet Range Equation [pic] †¢ V-Speed of aircraft †¢ L-Lift †¢ D-Drag †¢ G-Gravitional pull †¢ SFC-Specific Fuel consumption †¢ W-Weight (Reference to the equation above) With a given specific plan or profile, the Breguet Range Equation is used to calculate the aircraft’s range. We use this equation to predict and estimate the distance an airplane is capable to fly, accounting for its flight performance and the changes in weight as fuel is burned. The Specific fuel consumption is the measure on how efficiently an engine uses the fuel supplied to produce work. It allows engines of all different sizes to be compared to see which is the most fuel efficient.Using high by pass design and advanced materials, modern aircraft engine is able burn fuel more efficiently and overcome limitations in early generation such as high turbine temperatures. A decrease in SFC would mean an increase in range. Reducing the aircraft weight is always the goal for all aircraft designer. In case of B787, composite CFRP was boldly used up to 50% in the construction of the airplane. With reduced weight would means lesser thrust required. With lesser thrust would means decrease in fuel consumption rate. With a decreased fuel consumption rate, airplane will be able to fly a longer range. The lift to drag ratio refers to the amount of lift created by the aircraft, divided by the drag it produces when moving through air. Aircraft companies have been going towards the direction of achieving a higher L/D design; since a particular aircraft’s required lift is determined by its weight, delivering that lift with drag reduced, results directly to better fuel economy, longer range and at the same time a better climb performance and glide ratio . Source: http://web.mit.edu/16.unified/www/FALL/Unified_Concepts/BreguetNoteseps.pdf Conclusion With improved technology, aircraft engines will get increasingly fuel efficient; aircraft will get lighter and stronger. Aircraft will be able to fly cheaper, faster and better. Reference: 1. http://www.flightglobal.com/Features/787-handover/story-so-far/ 2. http://www.technologymarket.eu/2011/09/boeing-ana-celebrate-first-787-dreamliner-delivery/ 3. http://en.wikipedia.org/wiki/Boeing_787_Dreamliner#Composite_materials 4. http://www.boeing.com/commercial/787family/787-9prod.html 5. http://www.boeing.com/commercial/aeromagazine/articles/qtr_4_06/article_04_2.html 6. http://www.centennialofflight.gov/essay/Theories_of_Flight/airplane/TH2.htm 7. http://www.tms.org/pubs/journals/jom/0003/martin-0003.html 8. http://www.supercoolprops.com/articles/breguet.php 9. http://howautowork.com/part_1/ch_2/Specific_Fuel_Consumption_and_Efficiency_8.html 10. http://www.soton.ac.uk/~jps7/Aircraft%20Design%20Resources/aerodynamics/Breuget%20Equation.htm 11. http://www.designnews.com/document.asp?doc_id=222308 12. http://www.boeing.com/commercial/aeromagazine/articles/qtr_4_06/article_04_2.html

Effects of FDI in the Dominican Republic

Effects of FDI in the Dominican Republic Introduction Background and purpose The Dominican Republic has done a major shift in its economy, coming from an agricultural economy, to one based on services. An estimate of the sectors contribution to the country are, 60.2% in services (tourism, transportation, communications, finances, others), 15.5% in industry (manufacturing), 11.5% in construction, 11.3% in agriculture, and 1.5% in mining (CIA fact book). As of right now only tourism leads the service industry, but is soon to be challenged by the investment of contact centers. Because of this shift in its economy the Dominican Republic has become home to various foreign investments, but the one this study will focus on is on the foreign direct investment in contact centers, or call centers as they are also known. It is important to explore the advantages the Dominican Republic offers to attract such foreign investment, as well as to analyze the fact that although there are benefits, it could also lack the necessary infrastructure to sustain this rapidly growing industry. Due to the ongoing world financial crisis, many international companies are struggling to keep their business afloat and looking to establish their contact centers outside of their home based countries. Saving money and reducing operational cost are some of the main reason companies move and do foreign direct investment (FDI) abroad. Investing and conducting operations overseas seems to be the answer that foreign contact centers are looking for in order to meet such goals. It can be said that the Dominican Republic offers an answer to the difficulties contact centers companies are experiencing and continue to confront back at home. Some of the solutions given to these companies are a great business climate for foreign direct investment (FDI), incentives and good geographical location, among other compensations. As a result of moving abroad contact centers gain a particular advantage over their competitors. These advantages can range from cheaper operational cost, strategic location a nd skilled personnel, to a variety of options which may or may not be available in the Dominican Republic. But like everything in life not everything is perfect, the country also needs to confront a sad reality, which is that although it offers good things to investors, it also lacks of other good things. This study will provide the key aspects of contact center FDI in the Dominican Republic in order to present some of the weak and strong points the country has on this industry. By doing this the report looks at what the country has to offer to current and future investors in the contact center industry. It will also provide-from the investors point of view-what makes the Dominican Republic an attractive place to invest foreign capital in contact centers, as well as some of the problems encountered throughout the business venture. Although information provided by the governmental institutions in charge of spreading information about this industry say the country is capable, suited and ready to meet all the requirements of international investors, it is a fact that no system is perfect. This is where facts will be laid down in order to show what truly attracts, keep or loses these investments on the island. Based on those previously mentioned facts the study will look at what improveme nts can be made by the country in order to keep a competitive edge on the rapid growing industry. With this information the reader will comprehend the flaws in the system, and what measures are needed in order to correct them and generate a more positive investment climate. Along with this positive investment climate the study will show the impact call center FDI has had in the country. An efficient and effective investment climate can only be produced by pointing out the pros and cons of what the Dominican Republic has to offer to its investors. The conclusion of the study wishes to convey that these improvements can be achieved by taking action upon the recommendations given. Being that this study is based mostly on empirical knowledge, some of the observations made will be presented based on the industry expertise of the writer of over 7 years or working experience in this field. Research questions Is the Dominican Republic a good place for FDI? Have contact centers FDI created a real impact in the Dominican Republic? Research methodology In order to answer the questions mentioned above, this paper we will use a mixture of methodologies in order to analyze if the country is truly a good place for contact center FDI and if the industry has had an impact in the Dominican Republic. These methodologies include interviews, qualitative research and quantitative data. Organization of paper This document will be composed of four chapters, the first one being its introductory part. The first chapter will provide a brief introduction and background of the Dominican Republic and what sectors comprise the FDI in the country, along with the research questions and research methodology. The second chapter will present an overview of foreign direct investment, inflows, trends, performances and investment climate that pertains the country, as well as the promotion agency in charge of FDI in the country. This information will be in comparison with selected economies from the Caribbean, Latin America and others. The third chapter will cover a more in-depth analysis of contact centers in the Dominican Republic, flaws and investor perspective. The study will also look at a specific company from which the study will depict the impact this specific center has had in the country. The concluding and fourth chapter will provide key findings from the study and recommend future improvement s based on those findings. Overview of FDI in the Dominican Republic FDI trends and performance in Dominican Republic The Dominican Republic, like many other developing countries, is actively seeking to attract FDI. They are not only seeking FDI as an important factor in creating employment opportunities and additional source of income, but rather for the reason of potential spillovers of knowledge and technology. The strong public support for FDI in the Dominican Republic is expressed through the creation of the Center for Exports and Investment of the Dominican Republic, institution in charge of all exports and investment, along with other measures taken by the government. Some of these measures include simplification of administrative procedures, aid from the CEI-RD in logistics and information, subsidies, tax breaks, exemptions and other instruments that facilitate FDI. Before addressing the question of whether FDI in the Dominican Republic has led to development, spillovers of knowledge and technology, as well as, if it is a good place for contact centers to establish and invest, the study will provide an overview of FDI inflows and trends in the Dominican Republic. FDI inflows in the Dominican Republic have made a miraculous recovery from 2004 to 2008 according to the data by the World Bank (World Bank, World Development Indicators). As any other developing country, the inflow of foreign capital was affected by the political environment, which reflected in an average loss of almost 200 million dollars per year during the 2000-2004 governmental period. During this period the collapse of a major bank caused financial turmoil and many investors were forced to leave the country. After a change of government and the macro stability was placed back in track by the new authorities, the country received an average foreign capital inflow of 450 million dollars a year, to earn a total of over two billion dollars in FDI inflows (See figure below). This great recovery happened during the 2004-2008 period, as it was first mentioned, and it is still improving as the country keeps positioning itself as a preferred destination for FDI. Although contact centers are not the main reason for this fast recovery in the FDI, the new rapid industry of contact centers are playing a very important role as it continues to evolve into a leading industry in the service field. In President Fernandez first governmental period (2004-2008) the country recovered from the worst financial crisis in many years. During 2005 the country predicted a GDP growth of 9.3% and inflation to be brought under control at 7.3% throughout the 2004-2008 years. By managing these issues President Fernandez said We have rescued the confidence of investors by achieving macroeconomic stability (Leonel Fernandez, 2004). Having achieved macroeconomic stability, the Dominican Republic received US$1 billion worth of foreign direct investment (FDI) in 2005, up 40% from 2004, and U.S. investment accounted for around 40% of the total (CEI-RD, 2006). This led to an improvement of FDI inflows and mechanisms to continue attracting and sustaining this newly found investments. Below are the net inflows of FDI for various Latin American and the Caribbean countries, including the Dominican Republic. Investment climate When one thinks of the Dominican Republic, images of tropical beaches and all-inclusive resorts may come to mind, but this ten million-strong nation, occupying two thirds of the Caribbean island of Hispaniola, also has one of the Americas fastest growing economies and diverse scenery in the Caribbean (BusinessWeek, 2006). The briefing paper Foreign Investment in Latin America and the Caribbean, 2008 is one of the latest editions of a series issued annually by the Unit of Investment and Corporate Strategies of the Economic Commission for Latin America and the Caribbean (ECLAC) Division of Production, Productivity and Management. This report presents-in a very detail manner-the foreign investment done in Latin American and Caribbean countries, showing their relative differences and investment climate among other indicators. This report also touches on the contact center industry, which has contributed greatly to the ever increasing FDI inflow of the Dominican Republic. Comparing to oth er countries the Dominican Republic shows one of the best FDI inflows by reflecting a relative difference of 83%. What this means is that FDI activities has been constantly growing in the country, thus reflecting good initiatives from the country and a positive improving investment climate (see image below). A good investment climate is not created by simple marketing; it takes hard work, good economic policies and first-class governance on behalf of the government and its Head of State. Because many countries offer desirable investment conditions companies frequently ask themselves, where they should invest their capital. The answer needs to be provided by the country that wishes to be the host of the foreign investments these companies wish to make. The Dominican Republic has characteristics that make it a desirable place to make an investment of any kind, but the question that still lingers around is if the country can really sustain an investment of great magnitude. Offering the right investment climate in the Caribbean is something that the country wishes to achieve, but is not always successful on doing so. With a long history of attracting considerable FDI in a variety of sectors, the Dominican Republic is a regional leader in attracting contact center foreign investment. Longstan ding political stability and a diversifying economy have led many foreign firms to choose the Dominican Republic as an investment destination. Recent success in attracting FDI is due to the countrys investor-friendly legal regime, generous incentives, and infrastructure capable of supporting new technologies, including information technology (FDI Magazine. Financial Times Magazine. August 2005). As mentioned earlier, this success is fairly new and the Dominican Republic still faces the challenge of maintaining and attracting this foreign investments. A great way to see how well positioned is the country and the investment climate it offers is to do a comparison of economies. Doing Business 2010: Reforming Through Difficult Times is the seventh in a series of annual reports investigating regulations that enhance business activity and those that constrain it. The report presents quantitative indicators on business regulations and the protection of property rights that can be compared across 183 economies, from Afghanistan to Zimbabwe, over time (Doing business, 2010). Looking at this specialize report the Dominican Republic reflects its ranking in ease of doing business and other important world ranking criterias that foreign investors consider necessary to know before investing in any. Although this report is using specific economies, the data compares the Dominican Republic to the economies of countries around its region, as well as others from a distant hemisphere and much more developed than the island. One basic criterion for investment is the ease of doing business, the chart below reflects a clear weakness for the Dominican Republic in this area by ranking lower than a Puerto Rico and Jamaica. Puerto Rico and Jamaica are much smaller countries, which may contribute to more agile processes, but the fact that they are neighboring countries there should be a bigger similitude among them in terms of how business is handle. This is a clear sign that depending on how a country handles its business will reflect how efficient their mechanisms are, therefore providing a bigger ease of doing business. Another factor that should not be of much importance is the fact that Jamaica and Puerto Rico receive assistance, guidance and at times are regulated by developed countries. This should not be an excuse for why the Dominican Republic is falling behind in such a basic and important principle. (Doing business, 2010). The chart below, which has also been extracted from the Doing Business 2010: Reforming Through Difficult Times Report, touches on another very important factor for investors when they consider making an investment abroad. The ranking given in this chart is compared to the selected economies of Haiti, Puerto Rico, Singapore, Rwanda and others. This comparison is done once again in order to show how the Dominican Republic presents itself as a favorable investment location. Yet again this favorable climate for investors is not providing the best climate because is falling behind to neighboring economies which only advantage seems to be a more organize and efficient system. The Dominican Republic continues to improve, but is weak in its bureaucratic process, which as a result continues to slow down its progress. Dominican Republics ranking in doing business (Doing business, 2010) Once an investment is done, one of the biggest-if not the main concern of any investor-is how secure is their investment in a foreign country, meaning how are they protected from any unwanted situation. The Dominican Republic has recently passed a new legislation which provides a greater protection to its investors, thus providing investors with a contingency plan if anything happens. The graph below shows the global ranking of the Dominican Republic in terms or protecting its investors, which is a great improvement from other areas already mentioned. Although this is a very important concern for investors, it still addresses a post-investment situation. What this mean is that it does not really provide an immediate impact in attracting a foreign investment if the other factors are encouraging, but it does boost investors confidence in the country they plan to invest as well as adding to a better investment climate. (Doing business, 2010) In an interview to CEI-RD Minister Eddy Martinez in the renowned Dominican daily show Hoy Mismo, transmitted by channel 9, he talks about the investment climate in the Dominican Republic and mentions key factors that make the country a great place to invest-compared to other countries in the region. He talks about establishing incentive mechanisms in order to attract those capitals which appraise the value of the investment not only for the amount, but for the impact these investments will have in terms of technology transfer, creation of employment, type of employment, quality of products produced in the country and if they will carry out Research Development activities. Although this mechanism is something the country whishes to implement, it is still not fully incorporated, thus leaving room for error. The institution is still trying to educate and integrate the contact center community so they can share these incentives and goals with other investors who want to do future busine ss based on the country incentive structure. To disseminate this information the CEI-RD has done seminars concerning these incentives, and is moving forward to the implementation of those incentive policies. During the interview CEI-RD Minister mentioned that many investments come through different ministries, therefore many investors are not sure who and how their investment are handle. This reflects a clear disorganization in the governmental mechanisms, which translates into a weakness. Minister Martinez suggests the government creates an integrated mechanism of investment. What this means is that no matter the origin of the investment or ministry, it will end up in a single place. This will allow proper follow up of the investment, and in case a project gets stuck, the institution can determine where being detained due to bureaucracy or lack of project handling. Based on that integrated mechanism the country can increase its FDI inflows by having all projects in a single place, thus providing one more reason to invest in th e Dominican Republic. Promotion agency (CEI-RD) and incentives offered The Dominican Republics government has implemented a liberal framework for attracting FDI. It makes no distinction between foreign and local companies in terms of ownership restrictions and ability to qualify for investment incentives. Foreign investment is permitted in all sectors except those related to public health and the environment (such as storage and disposal of hazardous or radioactive waste), as well as national security. The Dominican Republic government also offers full exemption from all taxes, duties, charges, and fees that affect production and export activities in free trade zones, which it introduced in 1969. The free trade zones aim to attract high-tech manufacturing (including electronics and electrical components) as well as more traditional manufacturing-such as of automotive parts, medical devices and pharmaceuticals, plastics, metals, injection molding, textiles and footwear, jewelry, tobacco and of course contact centers. The incentives offered last up to 25 years for zones on the Haitian border, and up to 15 years for all other zones. In May 2006 there were 59 industrial parks and free trade zones in the Dominican Republic, hosting more than 600 companies, providing over 190,000 direct jobs, and occupying 2.1 million square meters. Although there are no performance requirements for foreign investors, few sector-specific incentives are offered to them. (World Bank Group, MIGA, Snapshot of the Caribbean, 2007) All of the benefits mentioned above and the continuing inflow of investment is happening thanks to efforts from the government and the institution in charge of carrying out FDI promotion. The institution carrying out this very important task is the Dominican Republics Export and Investment Center (CEI-RD), which is headed by Eddy Martinez, as the Minister and Executive Director of this government institution that promotes national strategic export and foreign investment opportunities and works hands-on with local and foreign enterprise to facilitate business activity. Because the institution knows the importance of investment they are aggressively targeting investors through offices in New York, Miami and California, and because of the nations entry into the Central American Free Trade Agreement, or CAFTA-DR. The Centro de Exportacià ³n e Inversià ³n de la Repà ºblica Dominicana (CEI-RD) as it is called in Spanish, is the countrys one-stop investment promotion intermediary. It has three main departments: Export Promotion, Investment Promotion, and a Training Center. The CEI-RD aims to strategically promote the valuable conditions that the Dominican Republic offers as an investment destination and foreign trade developer, by pursuing priority areas as defined by the Government, to increase employment, technological transfer and the social welfare of the Nation. The agency organizes and participates in trade missions both overseas and locally as well as provides tools to assist investors, such as an export directory. (World Bank Group, MIGA, Snapshot of the Caribbean) The CEI-RD is the official organization responsible for the promotion of international trade and Foreign Direct Investment (FDI). It was created as a product of the fusion of the Center for the Promotion of Exports of the Dominican Republic (CEDOPEX) and the Office for the Promotion of Investments of the Dominican Republic (OPI-RD), according to Law 98-03, effective on June 17, 2003. The CEI-RD is comprised of two main operational areas, export promotion and foreign investment promotion and its functions include many promotions, but some of the more relevant to this study are promotion of the countrys advantages to attract foreign investment, coordination with other government institution related to foreign trade in the interest of achieving an expedient and efficient flow of exports and investments in the country, promotion and development of FDI and business from the CEI-RD offices abroad, currently in Miami, New York and Chicago, participating actively in trade negotiations and ad ministration of resulting agreements, contribute to the improvement of the legal framework and its proper application. Also throughout the Foreign Service network, new offices will be opening soon in Puerto Rico and Silicon Valley The institution services are available for local and foreign companies to facilitate the exports and investments of the country which is an advantage to any investor. Among the services the CEI-RD offers, and which are relevant to this study, they have specialized consulting, technical assistance in meeting the regulations and norms required for the export of goods and services, which is helpful to new investor who are not familiar with the legal framework. They also have validation of certificates of origin, technical assistance relating to trade agreements, recommendations for improving the production process and benefiting from tariff preferences. The new investor can also benefit from visits on behalf of the CEI-RD specialized staff to their companies in order to evaluate the production process under trade agreements and preferential programs. One very important service the CEI-RD offers is that they ensure the correct application of norms relating to export and investment proced ures by administrating Law 84-99 on the reactivation and promotion of exports and Law 16-95 on foreign investment. Other services, although not specific to the industry, offered by the CEI-RD and from which investors could benefit are product profiles and market analysis, business intelligence, legal and economic information, registration of exports and foreign direct investment, facilitation of a network of representatives abroad and foreign trade documentation center. As any other promotion agency the CEI-RD has several promotion programs that make the Dominican Republic attractive for FDI. These programs include National and International Trade shows and expos where it presents companies, local and foreign, can showcase their products. The CEI-RD also coordinates trade missions in order to ensure a successful transaction as well as training programs relating to international trade. In these specific programs-relating to international trade-local companies can get educated and learn how to export their products and foreign investors can learn about the local market and opportunities. Another very important promotion program-and the one of the most significant-is the coordination of business meetings to present what the countrys has to offer, as well as to contact potential investors and exporters. With this two-way program, foreign and local investors will have a mutual gain by making the necessary contacts to get their business started, thus gene rating future FDI. (CEI-RD, 2010) Contact center FDI in Dominican Republic Overview of contact center FDI As it was previously mentioned, this study looks at the pros and cons of contact center FDI from various angles, one been from the host country point of view and the other the investors point of view. From the host country the study takes into consideration a report created by the economist Jonathan Aragonez, from the Center of Export and Investment of the Dominican Republic (CEI-RD), as well as other documentation of contact centers from the CEI-RD. These documents will provide the necessary data to point out the countrys benefit and disadvantages. Do to the lack of published papers that truly criticize or analyze the contact center industry, this study will support many of its facts on three things. These three key contributions are empirical knowledge of the writer, interview conducted to the economist previously mentioned, and interview with a contact center owner who is doing FDI in the Dominican Republic. The Dominican Republic has had strong export services for many years, and as a result there are 40 to 50 call centers registered with the Dominican Call Center Association. Investors currently operating in the country cited skilled workers, most of whom are bilingual, as their main reason for choosing it as their investment location (Dominican Republic Contact Center Association, 2010). The country has a large, well-trained labor force and although Spanish is the countrys official language, investors can find workers that also speak English. Apart from the stable, fast growing economy, attractive cost structure and near shore location, it can be said that people are the primary competitive advantage in the Dominican Republic. Investors in the Dominican Republic always emphasize the Dominicans high learning ability and proficiency in English. (Eddy Martinez, 2006). The countrys large size means that land is available for green field investment-if one was to be done-although most investors opt to rent or lease a work space for their operations. The country also offers great access to all markets being that is one of the six countries in the world that has a free trade agreement with the U.S. and Europe. Some of the other countries that have such a privilege are Israel, Jordan, Chile and Mexico (Office of the United States Trade Representative, 2010). Other favorable investment factors included the countrys well-developed, affordable telecommunications infrastructure which is the only one in the Caribbean with access four international cables through the Americas Region Caribbean Optical-Ring System Cable (ARCOS-1). What this means is that the Dominican Republic connection to the U.S. or any other country is redundant, thus ensuring contact center businesses to always be connected. Contact centers in the Dominican Republic generate 25,000 direct jobs, from the 57 companies registered and operating in the country. In the next two years those centers are expected to create 30,000 additional jobs, which when added to the indirect ones are more than 150,000 in. This information comes from the CEI-RD, which also says almost all of the data and information technology centers have been installed in the country in the past three years, meaning this great progress has been done in record time. This year alone-and not including centers outside of free trade zones-Contact Centers constituted 15% of approved companies in the free trade zones of the Dominican Republic, being matched only by textile companies (Approved companies by the Free Trade Zone and Export Committee, 2010). In previous reports the committee also shows how these companies add to the countrys GDP year after year, reflecting in a steady and secure growth of this industry. Companies approved in 2010 Free Trade Zone and Export Committee, 2010) The contact center industry in the Dominican Republic is one that has maintained a steady and significant growth. By doing so it has provided a great deal of jobs in the Dominican labor market, citing that for the year 2009 the industry counted with 22,000 jobs. Taking into consideration that the growth of this industry will be of about 27% and 36% annual growth during the next five years, it means that by 2014 the number of jobs can grow to an astonishing 150,000 jobs if the average annual growth rate is of only 27%. If the industry grows at an average of 37% annually, we are talking about having 250,000 jobs, which is almost double of the previous projection. (Jonathan Aragonez, 2010) Strengths, weaknesses and investors perspective of contact centers FDI Deciding whether to invest or not in a country is a decision which is influenced by what the country has offered and showed you, and what other investors say their experience has been. Investors will most likely take other investors input as the reality of how business works in a country. With that being said, one of the biggest disadvantages mentioned by investors is that the Dominican Republic doesnt count with a large enough English speaking community to hold growing operations. This statement comes from the interview with Mr. Blake Janover, contact center owner who has experienced the lack of English speaking representatives. He mentions that the Dominican Republic is a great place to invest, but not the best in the world due to some more important flaws than not enough English personnel. The main weaknesses mentioned by this contact center owner are banking, finance, and overall infrastructure, which is why he runs everything through an external company abroad instead of legally constituting a Dominican company. He also says that it takes time to get things rolling in the country, but he likes the Dominican Republic because it offers a huge tax benefit, as the US offers almost none (Blake Janover, 2010). Further details given by Mr. Janover can be seen in the Appendix. As for the interview with Mr. Jonathan Aragonez, an economist for the Center of Export and Investment of the Dominican Republic, he explains that the Dominican Republic offers contact center investors a great deal of benefits. In his interview he mentions some of the exclusivity of Dominican Republic, its treaty and skilled labor force. The most significant interpretation I could gather form the interview was that an investor is usually winning when investing in a contact center. This is an industry that is expected to grow at a steady 27 to 36 percent in average in the next 5 years, so the investor is bound to make a great profit in the business.(Jonathan Aragonez, 2010) Both the investor and the host country agree in one thing, the Dominican Republic offers advantages that many other countries dont have, and that is why the country is becoming a leader in the industry. These advantages are not only extended to the country and the investor, but are also transferable to the workforce. The average starting salaries in the contact centers are between RD$18,000 to RD$22,000 pesos. This amount is three times more than the average salary of RD$6,000 pesos-established by law-for people working office jobs such as law clerk, assistant or financial analyst (Ministry of Labor of the Dominican Republic, 2007). The contact center salaries are only matched by those of Doctors or Engineers in production plants, which is very demanding professional field in comparison with being a contact center agent. Although this is good for an individual whose only skill may be to speak English, it affects other labor markets due to the fact that the salary is so much

Trade off theory and pecking order theory

Trade off theory and pecking order theory The way we think about capital structure in the modern day is based around the Modigliani and Miller(MM) theorem. It states that a market absent of tax, bankruptcy costs and asymmetric information, and in an efficient market, a companys overall market value will not be affected depending on how it is financed. This then forms the basis of the trade off theory and the pecking order theory. As there is no perfect market conditions each aspect will have an effect based on the way the capital is structured. There are two theories behind the way the structure should be controlled, the pecking order theory, which was created by Stewart C. Myers and Nicolas Majluf in 1984[1], and the trade off theory, which was considered to be pioneered by back to Kraus and Litzenberger but many including Modilgliani himself are understood to have developed the theory. The way that a companys finances are structured is particularly important in light of the latest world recession. As seen in the Asian crisis in 1997 where all share markets became very volatile. It is not that capital structure has a large affect on a causing financial crisis, but rather that it will decide the impact on a firm during the financial crisis. This is relevant especially in the banking industry where assets are put under severe strain during a crisis [2]. I have chosen to approach the issue by setting out the basics of the theorys and their respective advantages and disadvantages, along with the premise behind why they are valid in capital structure. It will be backed by empirical evidence conducted from studies to back up my proposals. Pecking order theory suggests that companies should prioritise the way in which they raise finance. The pecking order relates to the hierarchy that the company follows, from the most appropriate to the least. The pecking order claims that the least preferred method is through equity financing. Rather to initially use internal sources and then issue debt until it is no longer suitable. The basic idea was developed around the original the Modigliani and Miller theorem. In contrast though a true market does not poses the same attributes as the MM theory. From the original paper by Myers and Majluf (1984) [4] developed a model that showed that capital structure was designed to limit the inefficiencies of caused by informational asymmetries. The informational asymmetries states that a manager will know more about the assets of a firm and their future growth prospects than the average outside investor, causing inequality in the market. From Murray Z. Frank Vidhan K. Goyal (2002) [6] I have established that though debt on the other hand is subject to minor adverse problems, equity causes a major adverse selection problem. For an outside investor, equity is construed to be riskier than debt. Equity finance premiums have the higher negative consequence on the firm, and as it is virtually impossible to finance fully from Therefore, an outside investor will demand a higher rate of return on equity than on debt. Thus leading to the pecking order of finance structure. To confirm the theory on asymmetric information, Viet Anh Dang [5] put forward that this model leads to a potential unfavourable selection problem due to the risk of the method of finance. Resulting in the fact that, investors will predict a decision not to issue securities to signal good news and vice versa. This problem leads to a pooling market equilibrium in which new shares can only be offered at a marked-down price. The empirical specification for the test takes the following form: it PO it it  Ã¢â‚¬Å¾D â‚ ¬Ã‚ ½Ã¢â€š ¬Ã‚  Ã‚ Ã‚ ¡Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚ «Ã¢â€š ¬Ã‚  Ã‚ Ã‚ ¢Ã¢â€š ¬Ã‚  DEF â‚ ¬Ã‚ «Ã¢â€š ¬Ã‚  Ã‚ Ã‚ ¥Ã¢â€š ¬Ã‚  (III-9) where it  Ã¢â‚¬Å¾D denotes net debt issued, it DEF cash flow deficit in year t (all variables in levels) and it  Ã‚ ¥Ã¢â€š ¬Ã‚  the well-behaved error term. In equation (III-9), the strict version of the pecking order theory holds if  Ã‚ ¡Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚ ½Ã¢â€š ¬Ã‚  0 and â‚ ¬Ã‚ ½Ã¢â€š ¬Ã‚  1 PO  Ã‚ ¢Ã¢â€š ¬Ã‚  , i.e., when the deficit in cash flow is entirely offset by the change in debt. The financing choice should be in favour of the financing instruments that are less risk and less sensitive to mis-pricing and valuation errors. Where again we find that equity is the most prone to inaccuracy followed by debt and finally internal sources which are absent of mistakes in valuation. The earliest accredited study that found empirical evidence supporting all these theories was conducted by Baskin. J (1989)[6], this then led to further studies, though these have resulted in conflicting evidence as to the legitimacy of the theory. In the original Myers Majluf (1984)[4] study the table below lists how firms were financially structured It shows that firms had adopted the pecking order method to a degree by selecting to finance internally first followed by debt then last resort equity finance, but as this is a summary of countries each individual firm will differ. This is the exact problem with the pecking order theory, it isnt individually tailored to best suit each business. This was proved by the table below Ziad Zurigats (March 2009) study of the differing effect pecking order theory had on small and large firms. His findings showed, the estimated coefficients are lower for PDEF (0.421 and 0.592) for small and large firms respectively) than for NDEF (0.569 and 0.648), implying that small and large Jordanian firms are less sensitive in increasing debt for financing than in reducing debt for soaking up surplus. However, as cleared, small Jordanian firms are less sensitive than large ones in increasing debt to finance their positive financial deficit and retiring debt to soak up surplus. The Trade-Off Theory of Capital Structure employs to the concept that a firm is able to manipulate the levels of debt and equity finance by balancing the costs and benefits to be most advantageously structured. As mentioned in the introduction it goes back to Kraus and Litzenberger who considered a balance between the dead-weight costs of bankruptcy and the tax saving benefits of debt. To ensure that the debt is balanced the firm will consider the marginal benefits and the marginal costs, as the more debt is taken on the marginal benefit will decrease while the marginal cost will increase. When the marginal benefit is equal to the marginal and the firms value is optimised, there will be a trade off as to the point that debt becomes more detrimental than equity which will form the d/e ratio for the firm. As stated before under a perfect market condition with no tax the finance structure is irrelevant, but as tax comes into play equity is again favoured in the trade off theory, this is because interest on debt reduces the tax liability of a firm in turn increasing the profits, this is called a tax shield. The cost of financial distress should equal the tax shield at the point of equilibrium. The custom economic model used when interpreting the trade-off theory is the partial adjustment model (Jalilvand and Harris, 1984; Shyam-Sunder and Myers, 1999; Ozkan, 2001 and Fama and French, 2002), which is made up of two parts; a static part to describe how the ideal amount is determined and the dynamic partial adjustment process: Where, yt = a firms financial ratio in period t, yt-l = a firms financial ratio in period t-1, yt*= the target level of a particular ratio ÃŽÂ » = the speed of adjustment coefficient i.e. how fast the firm returns to its target debt ratio3 Empirical Evidence supporting the trade off theory Here we can see that from the research done in the paper the table is drawn from, it has been found that there are some explanatory variables which do not act as expected. Although this may be interpreted as the trade off model being inaccurate, there are still factors which do affect the businesses total debt as expected. The most important factors drawn from the table above are the business size, total debt ratio, effective tax rate and the non-debt tax shields. The reason why explanatory variables such as growth opportunities do not act as expected may be due to the differing size of businesses examined; splitting the data in to business size may be advantageous here. The benefit of the trade off theory is that it is unique to each companys situation, for example a company with safe, tangible assets that also generate high levels of income would likely seek a high debt target ratio as to fully Companies with safe, tangible assets and plenty of taxable income to shield ought to have high target ratio to fully utilise the tax shield. In the opposite direct a company that is Unprofitable with risky, intangible assets will usually rely on equity finance as it becomes the less risky option. As the uncertainty surround its income could make the tax shield non existent One key flaw that was not in the original Modigliani and Miller (1963) study is that of the effect on personal income tax. Miller (1977) took this into account in his study and proved that in fact the total tax saving at the point of equilibrium was zero when income tax increase was applied to the tax shield. The following equations shows that the tax shield can even be detrimental for example if the tax rate on stock is less than the tax rate on bonds the result will be a negative impact on profits. The author further suggests that there should be no optimal debt ratio for any individual firms. Where G ­L is the leverage gain for the shareholder Tc is the corporate tax rate Tps is the personal income tax for common stock TPB is the personal income tax for bonds BL is the market value of the levered firms debt There have been questions to the mutual exclusivity of the two theories, Carmen Cotei and Joseph Farhat (2009) studied this theory, and their conclusion was that The empirical results of the factors affecting the proportion of debt financing (reduction) and factors affecting the rate of adjustment imply that the pecking order theory and the trade-off theory are not mutually exclusive. Firms may strive for a target debt ratio range and within this range, the pecking order behavior may describe incremental decisions or, over time, firms may switch between target adjustment and pecking order behavior. Conclusion reflection on theories which is best suited? Does it differ between businesses, are they both legitimate ways of structuring capital? In reflection it is clear that both theories offer a potential theory of dealing with capital structure, but the empirical evidence seems to suggest that the trade off theory is the more well rounded option. As it holds well in the custom economic model, outperforming the pecking order model in the key areas. There has been also some convincing proof in favour of the relationships between gearing and the conventional determining factors (except profitability), as predicted by trade-off structure. Non-debt tax shields and growth opportunities have been argued to be inversely related to debt ratio, while collateral value of assets and size are found to have positive effects upon gearing. I do believe that to some degree the theories are simply a base to capital structure, and that each individual company must do its own assessment on the best way to structure capital in order to produce the best results.

Free Essays - Alienation in Landscape for a Good Woman :: Landscape for a Good Woman Essays

Alienation in Landscape for a Good Woman In her introduction to Landscape for a Good Woman, Carolyn Steedman claims that "this is a drama of class" (22); she blames her mother's working-class background -- where "fierce resentment against the unfairness of things, was carried through seventy years and three generations ... [and] dissolved into the figure of [her] mother" (30) -- for her own joyless childhood. The shocking portrait of Steedman's mother, who tells her children repeatedly both in her actions and words how unwanted they are, redefines the culturally normative nurturing role of motherhood. While Steedman's passionate argument -- that her mother's history of material inequality was responsible for the creation of this monster-martyr-mother -- must not be discounted, it is incomplete. Her claim is convincing; however, her mother's poor decisions were also contributory causes. For example, Edna selected a married man who already had a daughter as the prince who would fulfill her desires for property, material goods and status which seems risky at best. However, her desperate, failed attempt to become his wife through motherhood after ten years of cohabitation is striking for both its evident lack of foresight and blindness to reality. It is difficult to imagine that her fantasy whereby life would somehow improve from this decision ever had the chance to be anything but a recipe for failure, especially since she pinned her hopes on this ploy not once,but twice. Perhaps Steedman wishes to imply that her mother's working-class status is responsible for her poor decision making skills. She certainly wants to convince us that her mother's desire for things is not trivial; and she blames her "mother's sense of unfairness, her belief that she had been refused entry to her rightful place in the world" (112), on her working-class status. While this is certainly a key factor in the disturbing tale, it is not the only factor; therefore, the story is more than a drama of class, for this complex portrait of Steedman's mother is that of a vain, mean-spirited, bitter woman whose priorities were in disorder. The fact that Steedman's mother's working-class relatives did not visit this "illegitimate" family indicates that her lack of a marriage certificate was unacceptable within her own class as well.

The Meaning and Symbolism of the Hunting Scenes in Sir Gawain and The Green Knight :: Sir Gawain Green Knight Essays

The Meaning and Symbolism of the Hunting Scenes in Sir Gawain and The Green Knight Sir Gawain is a poem of heroism, chivalry, brave knights and even romance. The story itself is so engaging that all too easily the reader may miss many of the symbols present within. Here we will consider the symbolism and importance of the hunting scenes and how they help develop and enhance the plot. The hunting scenes in Sir Gawain are numerous and told in detail. Why did the author spend so much space in what seems to be just action scenes? Unquestionably such a talented author would never carelessly spend time on lines that do not add meaning to the story. One critic's overzealous opinion is: all the hunted animals convey connotations of evil, and this is doubtless the reason why the author of the poem seems so involved in the outcome of the hunts and never tires of triumphantly describing the final slaying of the pursued animals. (Howard 85) This is an interesting interpretation and could possibly serve as a religious meaning in the poem. Nevertheless the animals themselves are never described as evil nor is there any implication of evil animals in the poem. The animals do hold specific meaning though not malevolent like the above quoted critic believes. Medieval people loved stories of animals that assumed human qualities; for example Chantlicleer, the rooster in Chaucer's Canterbury Tales. Many animals were thought to have qualities of human emotions, spirituality and even intelligent qualities; the three hunted animals in Sir Gawain included. To begin, "Certain facts about the animals which formed the quarry of the medieval huntsman...and certain popular beliefs about their habits and temper" (Savage 32) will allow the reader to draw parallels between the hunt, happening outside the castle; and the "hunt" happening inside the castle between Gawain and the Lady of the house. Insight is provided by understanding the attitude the medieval huntsman would have toward the animals. Hunted animals were classified as either "beasts of venery" or "beasts of chase". Beasts of venery included the male and female red deer, wild boar or the wolf. Beasts of chase were the male or female deer and the fox. Animals of the first class were considered noble to hunt. Animals of the second class do not fair as well, especially poor Reynard. At the time Sir Gawain was written "the fox was regarded as vermin to be hunted out and destroyed" (Savage 33).

Globalization and Drug Trafficking

Cheniece Bray Professor Hooper ENGL 1133 P19 12 November 2012 Annotated Bibliography II Working Title: Globalization and Drug Trafficking| Topic Description: Nations worldwide have been facing and losing the war on drugs for some time now. Innocent citizens are affected with the negative side effects due to drug trafficking such as violence resulting in death, lack of government assistance to halt the issue, and increase of crime rates.In this paper I would like to discuss the actions that can be taken to help stop drug trafficking worldwide, starting with one of the main drug routes from Mexico to the United States and other areas globally. I believe the war on drugs can be defeated if it is attacked by the government on every level federal, state, and local. | Working Thesis: What can be imposed to stop the violence and high crime rate related to drug trafficking and also decrease the flow of drugs across borders? | Source #1| Stout, R. (2012).Do the United States and Mexico Really Want the Drug War To Succeed? Monthly Review: An Independent Socialist Magazine, 63(8), 34. | This article stands out to me because it addresses one of my many concerns for this topic and that would be what is the government doing in order to defeat this war on drugs? Why is it so easy for drugs to travel past borders where government militia is stationed? Stout presents an argument in this article discussing what militarized efforts are being enforced to stop Mexican cartels as it seems like there is not much being done.Prosecution of offenders is not enough because even behind bars somehow kingpins still find a way for drugs to be distributed across the border into the United States. Most drug cartels â€Å"financed the construction and operation of luxurious night clubs, gourmet restaurants, and gambling activities that attracted large numbers of U. S. residents† (Stout, 2012, p. 2) making it very easy for individuals to gain access to these illegal drugs. | Source #2| Ei ght Steps to Effectively Controlling Drug Abuse And the Drug Market Retrieved from http://www. csdp. rg/news/news/8steps. htm| This online article offers many alternatives beside persecution that could be used to effectively control drug abuse and the control the striving drug market. I will use this article to help me with ideas of what policies would be best enforced inside Mexico to regulate cartels. The government is not achieving much in the war on drugs by simply putting the offenders in jail because that is costing them a lump sum of money along with the problem still ongoing because the offender will eventually get out and continue to do the same things.This article describes how the money being used to put offenders in jail could instead but used to treat, prevent, and educate offenders as the law enforcement should understand that their job is not enough to stop these powerful cartels. Drug trafficking is a problem and should be treated as one instead of a burden that cont inues to get recycled. | Source #3| Gleason C. (2008). Financial Cost of the War on Drugs Retrieved from http://suite101. com/article/financial-cost-of-the-war-on-drugs-a53068 | In this article Gleason demonstrates how much money is being spent to try and stop the war on drugs.This article will be useful to me because it will help me get a understanding of how much money is spent to house an inmate in jail who has been constantly convicted of using and selling illegal drugs, also providing and paying police officers with drug units to help stop drug trafficking. Gleason's article was useful and corresponded well the topic I chose over drug trafficking, although this article is biased it helped me formulate an opinion after I observed how much money the government has dispersed and seemingly wasted trying to prevent the use and movement of drug trafficking .This will be used in my research paper to give an example of the cost in the government trying to solve this ongoing problem. | Source #4| Jenner, M. S. (2011). International Drug Trafficking: A Global Problem with a Domestic Solution. Indiana Journal Of Global Legal Studies, 18(2), 901-927. | In this article Jenner explains many ways in which drug trafficking can be controlled, one of the ways Jenner discusses is the universal legalization of drugs.I will use this in my research paper as a policy that can be put into place to help eventually stop drug trafficking. Legalization would attack the drug market in a very sensitive matter; if drugs are legal the head â€Å"kingpins† of nations delivering narcotics, cannabis, and other drugs are unable to receive a profit from the drug trade therefore defeating the purpose of the whole process which is money and control. If this policy would ever be considered, control would then again be in the hands of the government and out of the violent drug cartels worldwide. |

Program for At Risk Young Adults to Aid Them in Achieving Their Future Purpose Essay

This weapons platform is designed for offering novel learning entertain it off to the younker gravids who ar loss by means of the transitional degree of their lives. This curriculum has identify the older adolescents as one of the part of population at risk since they gravel difficulty in adapting and growing healthily in both(prenominal) the adult creation and the military man of adolescents. This at-risk syllabus is gives complete strain on the ripe physical and mental learning of these boylike adults understanding their mental crisis and the related personal, loving, and behavioral characteristics.This program has a marked accessible importance as the tender adults form one of the much or less vulnerable sections of the society with their recent moving picture to the appearside world. The program volition steer at identifying those unripened adults who apply not been able to realize their potential and garter them grow emotionally and professional ly. (Internet Special companionship Resources, 2009) The students are the potential resources for this at-risk program that befool to be utilized for the success of this program. onward identifying the students for this particular undertaking, it bequeath be substantial to chalk out a pattern on what the program inquires from the students to put to death in the end and what concepts and skills should the students acquire in the beginning they are chosen as qualified resources for the program. Since the aim of the program is to serve young men and women the students bequeath be offered intense trainings on both the common and distant problems faced by the pot going through this transitional stage and demand them better informed about both the long-term and long-term remedies.Those students will be haltn as the resources that will act quickly and positively to the training sessions. The program on at-risk younger adults is of immense relevancy for the students, as they themselves have to experience this transitional stage in short brace of time. The program will contain prolonged breeding on multi-faceted experiences, which every respective(prenominal) goes through. The program also addresses a human body of behavioral and psychological conditions experienced by those who are on the verge of organism adults and yet to leave the adolescent status.alternatively of adopting a pedantic approach, the program will focus more on application the major issues in a student-friendly dash. The confine of the programs are unambiguous details on non-clinical treatment and other services, which should be rendered for limited instances. Considering the chances of the students going through the same phase later towards their life, the program will be designed to trace them conscious onwards about the prospective experience they are going to witness.Since the old teenagers are to be trained well to cope up with the manifold layers of pressures concerning employment and other genial activities, the program will include the central prerequisites for being able to absorb, process, and combine schooling in the most prolific manner possible for them. In order to make the program more realistic and unimpeachable to the prey population, the book of instructions and strategies for career development will be in compliance with the actual reality where the adult world is living.This is of imperative concern for the designers of the program that the instructions mean to be disseminated to the at-risk young adults should not be far from the stark world so that they do not run across a wide gap betwixt their learning and their actual experience and they toilette certainly relate to the real marketplace situation in the world. (Internet Special statement Resources, 2009) Besides the students, the program can take help of additional social resources procurable in the community of interests that can be employed for risqueer(prenomina l) success.The sociologists dealing with this specific domain of young adults can be counted upon for sharing their valuable opinions and view-points concerning the physical, emotional and sociological disturbances experienced by the people of that age. The obligation of making the student equip with these information is to be conferred upon them. To make the program more intense and subjective therapists and clinicians from the community have to be utilized as the social resources.This at-risk program will certainly have a serious impact on the young adults who need a aforethought(ip) living program and recovery check. future(a) this program will help young men and women to recover form their hold condition and render them the professional leap out through the sociologists, clinicians and the therapists. The program is beneficial for the students who need added support while pursuing their higher educational goals. Both these young people and their parents will be infused wi th new insights and knowledge that aid them in their personal and social success.The program targets some vital factors which excise their all-round development. Adherence to the instructions hardened down in the program ensures schoolman success and integration of young adult independent living skills. The program helps the target students of the community in introducing healthy pursuits to improve social skills and building a genius of community. It also aims at helping these young adults to recover from substance abuse and addiction. (Northstarcenter. com, 2009) several(prenominal) essential steps are to be taken for implementing this at-risk program.Developing a strategical plan based on the queer needs of young adults is integral to proper implementation of the program. Conducting a community epitome and assessing the needs of the target population plays a pivotal role in calculating the program in the most rough-and-ready manner. Identifying the youth serving agenci es in the community and co-operating with them to understand the approaches suitable for treating various cases is primal for proper implementation of the program. ( spring chicken Adults Library operate Association, 2003)The program has to be designed in order to recognize the educational approaches for high risk young adults and ensure a safe and healthy environment for the students. aim committees have to be established which will work with the teachers and parents in promoting awareness and program development with community participation. (Theodore, pg 332). This program will be able to reaching out to young people and win support by working with parents and local leaders. by dint of this comprehensive program it is expected that constitution barriers will be removed.It will farther encourage the students to participate in the program and put their effort in ontogenesis it. The program intends to specifically help these young people to do what they need to do. (The entrop y Project, 2009) References 1. A Transition Program for At Risk Older Teens and Young Adults to financial aid Them Realize a Future invigorate by Personal Purpose and expense Achieving. Internet Special Education Resources. 2009. visible(prenominal) at http//www. iser. com/LDI-AZ. html (accessed on January 30, 2009) 2. Northstar bone marrow.Northstarcenter. com. 2009. for sale at http//northstarcenter. com/ (accessed on January 30, 2009) 3. Young Adults Deserve the Best Competencies for Librarians Serving youthfulness. Young Adult Library serve Association. 2003. Available at http//www. ala. org/ala/mgrps/divs/yalsa/profdev/youngadultsdeserve. cfm (accessed on January 30, 2009) 4. showdown the Needs of Young Adults. Population Reports. 2009. Available at http//www. infoforhealth. org/pr/j41edsum. shtml (accessed on January 30, 2009)