United States Foreign Policy and Greece

Chapter by chapter list Introduction Economic Cooperation Diplomatic Relations Military Instruments Cultural and Psychological Relations Conclusion Cited Introduction Foreign alludes to the outside condition of the state. Strategy is a game-plan that a state or an association expects to do. International strategy is worried about instruments applied in cooperating with different states. They incorporate the rule and methodologies intended to accomplish the premiums of a state externally.Advertising We will compose a custom examination paper test on United States Foreign Policy and Greece explicitly for you for just $16.05 $11/page Learn More Policies made ought to be objective situated; they target something positive particularly in issues of national security. Instruments applied can be conciliatory, monetary, social or military. Political instruments comprise of acknowledgment and withdrawal of acknowledgment, reviewing of envoys, setting up strategic workplaces, applying travel ba ns, state visits and greeting of state visits. Monetary instruments relate to outside guide, slapping of financial authorizations, exchange understandings and exchange blacklists. The state can also apply military instruments, for example, taking part in war, shaping military collusions and offering military help. Psycho-social instruments identify with broad communications (print and communicate), scholastic grants, for example, Fulbright, social visit trade and foundation of social focuses. International strategy instruments decide the benefit a nation gets from other incredible states. This paper inspects the instruments corresponding to the international strategy of United States and Greece. Financial Cooperation In February 1950, the administration of the United States marked a convention at Athens Greece. The understanding was intended to fortify outside relations between the two states. The show had clear destinations that planned for accomplishing enormity for the two states . Greece was not to be burdened vigorously; it was to appreciate special treatment. Independent ventures were not being burdened thus reassuring rivalry among Greek and American organizations in the United States. The two states appreciate common relations most definitely. Greece is deliberately situated in that the vast majority of oil from Middle East goes through it. The oil arrives at Europe and the United States from Caspian Basin through Greece. The foundation of local vitality venture called ITGI (Interconnector Turkey-Greece-Italy) fortified monetary relations among Greece and different states-United states included. The Greek port of Alexandroupolis situated along the coastline of Aegean is key to the United States since it fills in as a course for oil development from Middle East to different pieces of Europe (Dimitrios 35).Advertising Looking for research paper on worldwide relations? How about we check whether we can support you! Get your first paper with 15% OFF Learn M ore The United States co-picks Greece and Turkey in achieving its financial advantages in Middle East. Greece helped out the United States in 1990-91 Persian Gulf War. Financial interests in the war drove them both. Prior to 1990, Greece was a significant recipient of the United States outside Aid. It got subsidizing in framework improvement, for example, extension of ports for import/sends out turn of events, hydroelectric force buildings for power age and social enhancements. The two accomplices have slapped monetary assents to resistant states infrequently. Strategic Relations The United States have been proposing solid relations among states particularly those around Middle East. Greece has been holding harmony talks and has proceeded to sign safeguard participation with Arabic states for the benefit of the United States. Greece gets vital corresponding to American battle against psychological warfare. The interests of Americans in Palestinian-Israeli clash are all around cooked for by Greece as of late. The Greek heads have been facilitating gatherings among Israel and Palestine. Greece recently has changed its substitute the longest clash among Palestine and Israel. The improved relations among Israel and Greece are a direct result of political collaboration between United States and Greece. Israeli pioneer Moshe Katsav in 2006 just because visited Greece prompting trade of state visits between the pioneers. The Greek government is consistently in solidarity with the United States in the midst of hardship. It winds up reviewing high magistrates and ministers to opening in consistence from uncooperative states. The two accomplices in the global framework authorize approaches in solidarity with one another. The United States pulls back acknowledgment for pioneers apparent to be meddling with Greek interests. The two states relate well due to the enormous Greek populace in the United States. The Greek populace in the United States impacts the administration to make sound international strategies to Greece. The American government has built up discretionary workplaces in places apparent to be with Greek populace, for example, South Africa.Advertising We will compose a custom examination paper test on United States Foreign Policy and Greece explicitly for you for just $16.05 $11/page Learn More The United States appointment on different events has been welcome to Greece. The pioneers survey understandings made and extends mutually subsidized by the two governments. The Greek government helped the United States in intervening the contentions among Russia and Georgia. Greece teams up with the United States in chilling off the temperatures in Middle East that causes movement. It further offers helpful help to the Muslim States. It additionally helped the United States in bring joining among Balkans and forcing Turkey in promotion to European Union. Military Instruments The U.S and Greece started participating quite a while back with the un derlying settlement being marked in 1953. The significant activity today is fixated on the naval force. The U.S. runs an army installation at profound water port. What's more, the nation works the Sounda cove landing strip to help Greece. The Greek government consequently gets a tremendous military help with terms of the two assets and innovation. The United States government offers present day military abilities to Greek officers and security faculty (Paterson Clifford and Maddock 378). The Greek government maintains the precepts of free enterprise and United States thoughts of majority rules system by interceding militarily to reestablish vote based system in unsteady states, for example, Kosovo. The legislature of Greece is an incredible supporter of North Atlantic Treaty Organization (NATO). In 2003, NATO was accountable for International Security Assistance Force (ISAF), larger part of the harmony guardians were Greek. The Greeks contributed a great deal of cash to Afghanistan improvement and philanthropic guide. Through Greek cooperation in NATO, the Balkans has had help in socio-political and monetary associations. Greece drove the NATO-drove Kosovo Force (KFOR) in Bosnia, which brought regularity and vote based system among Balkans. Greece is brimming with speed for NATO’S sea shield counter-theft activity that serves to offer security to World Food Program reinforced and trade yachts off the shore of Somalia. Greece has been driving an European Union’s Atalanta counter-theft mission.Advertising Searching for research paper on global relations? How about we check whether we can support you! Get your first paper with 15% OFF Find out More The United States’ maritime reinforcement at Sounda Bay on Crete islands encourages moves and calculated help to European Command (EUCOM), Central order (CENTCOM). The NATO powers take part in military activities in Iraq, Afghanistan, Balkan states and the Middle East, which are all encouraged by Greece (Economides 472). Social and Psychological Relations The voice of America is one of the major outside media in Greece. It is accountable for apportioning American qualities to the individuals of Greece. Individuals change their recognitions about the Americans and their way of life. The two states have social focuses in ether America or Greece. The focuses instruct residents on the significance of collaboration in the global framework. The United States with its Fulbright grant program has had the option to impact the relations between the two states. Researchers from Greece get open doors in the United States. Courses in Greek are offered in different American foundations. End Greece is exceptionally key to the United States consequently the administration ought to consistently keep up great relations with Greece. The vast majority of oil from Middle East goes from the coastline of Greece. The United states government needs to guarantee that Greece is secure, political occasions ought to be observed cautiously in Greece to look after harmony. Fear mongers ought not be permitted to assume control over the state since it will muddle world harmony. The legislature of America ought to along these lines keep giving chances and specialized help to Greeks. Greece is extremely crucial undoubtedly. Military tasks in the locale rely upon Sounda cove army installation. The remainder of states around the district are threatening to the legislature of the United States. The war in Iraq couldn't have emerged without the help of Greece. The battle against hostile to vote based system in Bosnia and Yugoslavia depended vigorously on Greece. Greeks gave enough customary p owers that countered domineering guideline in Bosnia. It likewise assumed a basic job I joining the difficulty causing network of Balkan. The United Sates would not accomplish its inclinations in the Middle East without the help of Greece. As the circumstance remains, there is a defrost in relations among Greece and United States. This has prompted dã ©tente relations among Greece and Canada. Refered to Dimitrios, Lucas. Greece’s Shifting Position on Turkish Accession to the EU: when Helsinki. Saarbrucken: VDM Verlag. 1999. Economides, Spyros. The Europeanisati

Assignment Jewish Identity free essay sample

A few organizations of Judaism like to incorporate being destined to a Jewish dad as a major aspect of being Jewish. It tends to be taken a gander at as all the more a nationality or an ethnicity than a religion. In many orders of Judaism, a non-Jew can experience the procedure of change. This would imply that they are currently perceived as a Jew, however to numerous Jewish conceived individuals, they don't think about proselytes as real Jews. Being Jewish implies that you recognize the history, and the battle of the Jewish individuals as a country. The past, however sharing trusts in Israel later on, and taking part in their traditions. B.Can anything exclude a Jewish individual who wishes to be known as a Jew from proceeding to be Jewish? The Torah is a type of Jewish law, and Orthodox Jews, not at all like different factions carefully follow its lessons. The Torah restricts a Jewish man from wedding a Gentile lady (non-Jew), since his kids by that lady won't be Jewish. We will compose a custom article test on Task Jewish Identity or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page When taking a gander at different organizations of Judaism who are not all that severe with the Torah the youngsters would be viewed as Jewish. Contingent upon how you Interpret the law, kids destined to a Jewish dad and a Gentile lady couldn't be viewed as Jewish. As indicated by the law they are definitely not. One needs to live inside the law to pick up the legacy. C. Are there Jews who don't have faith in God and don't rehearse Jewish traditions? Does trusting In agnosticism, polytheism or monism exclude an individual conceived in Jewish family from being Jewish? A few Jews who endure the holocaust became agnostics however are as yet called Jewish by many. It is safe to say that they are as yet Jewish? Alongside being Jewish, and following the traditions, comes the legacy that God guaranteed his kids, or the Israelites. There are clashing perspectives on whether Jewish conceived individual who forsakes their traditions would in any case be considered Jewish.Looking at It from a sensible perspective without Involving any Jewish law, yes they who changed Judaism expressed that individuals who have skeptic, polytheist, or monist perspectives would even now be viewed as Jewish whenever naturally introduced to the religion. When taking a gander at the Torah, they are not viewed as Jewish, on t he grounds that they occupied with agnostic convictions, and can no longer partake in the legacy of the offspring of Israel. Holocaust survivors as I would like to think are without a doubt Jewish, they languished over what they had confidence in, and they blast lost expectation. D.If a Jew is brought into the world Jewish, follows Jewish ceremonies and customs, however they put stock in anybody as a Messiah (for instance, Lubricant Brooklyn Messiah), is that individual Jewish? This inquiry isn't Just about Jesus, it relates to a large group of different people who should be the Messiah (not Just Jesus). Putting stock in a savior, doesn't make somebody not Jewish. The conventional Jewish conviction is that a lord from the line of David would be the savior. Jesus went along, and professed to be the lord of the Jews, however they didn't trust him.Jesus didn't fit he measures to be the child of God, who might convey the Israelites. Numerous Jews despite everything accept that their savior still can't seem to return. The individuals who put stock in Lubricant considered Rubber to be the savior, yet as long as they don't go to Rubber or consider Rubber as a God then there is no issue. They despite everything practice inside the Jewish confidence, and they have not received outside ceremonies, that conflict with Jewish law. E. Do a web search on Simenon Bar Kickback and Give Shabbiest and Lubricant Hashishs. Did the Jews who had confidence in these developments keep on being considered Jewish?Those who followed Bar Kickback, Shabbiest TTS, and Alluvial firmly accepted that they were the savior. These individuals were rabbis, a large number of the Jewish confidence emphatically had confidence in the words that they were stating. They really felt that they were the savior. Numerous Jewish individuals despite everything consider the individuals who followed Bar Kickback and Shabbiest Give are as yet Jewish. They are called captured or confused youngsters. They ought not lose their legacy, and not be viewed as Jewish. The equivalent doesn't go for Lubricant, the individuals who tailed him are supposed to be a disfavor to the Jewish confidence.

The Odyssey Theme Hospitality Sample Essay Example For Students

The Odyssey Theme: Hospitality Sample Essay There are a wide range of subjects in The Odyssey. be that as it may, the most extraordinary subject Homer depicts in his gallant sonnet refrain structure is cheerful gathering or Xenia. The demonstration of Xenia was potentially the majority of import Grecian utilization out of all since you see it being performed clasp and clasp again all through Odysseus’ venture place. The Odyssey was about the 20 twelvemonth long excursion of King Odysseus come back to Ithaca from battling in the Trojan War. The subject of heartfelt gathering is available non only while Odysseus is going from city to city. in any case, other than at his place in Ithaca. where his wedded lady and kid. Penelope and Telemachus’ . château is being overwhelmed with suers. On Odysseus’ looking for venture place. he was invited by a few male rulers uncovering Xenia. non simply on the grounds that it was Grecian utilization. but since it was ill bred to Zeus. the God of agreeable gathering. on the off chance that they didn’t. Subsequent to going from Calypso’s island and standing up to an overwhelming tempest Poseidon mixed. Odysseus in the end arrived on Scheria. The king’s young lady Nausicaa saw Odysseus and clarified. â€Å"But now. you’ve connected city and our territory. you’ll neer lack for vesture or some other blessing. the privilege of raddled solicitors come our way ( 6. 210-213 ) . This is a chief delineation of how submissive the Ancient Greeks following their solid customs. Nausicaa didn’t dither to help Odysseus and appeared to be glad as she was delineating her city. which depicts another subject which is Kleos. The idea of Xenia was incredibly respected in The Odyssey. what's more, affronting it was completely unsatisfactory. Initially. Telemachus and Penelope needed to reluctantly have 108 suers who exploited their agreeable gathering. This was an offense that was impermissible so Mentor clarifies. â€Å"Reach where it counts in your chest and mind for a way to murder these suers in your home by taking or detached combat† ( 1. 339 ) . This is a delineation of how truly the Ancient Greeks esteemed heartfelt gathering and respect for the Gods. It other than shows the Greeks outrageous conduct towards individuals abusing their social qualities. Friendliness was so of import in the Ancient Greek’s lives that they complied with their convention regardless of whether it might hold disappointed them. In book 14. at the point when Odysseus came back to Ithaca and went to the pigman camouflaged. Eumaeus welcomes him in. provenders him. also, gives him a topographic point to kip. The content peruses â€Å"Not his way to bed inside. aside from the pigs. He equipped to go outside and it warmed Odysseus’ heart† . ( 14. 592-595 ) This demonstrates how willing the Greeks were to enchant their invitees. for case. Eumaeus let Odysseus kip by the fire with caprine creature and sheep covering. while he rested outside vulnerable with the pig. This other than delineates that they were so consistent with Xenia and Piety. In choice. this grounds is an incredible portrayal of the Greeks esteems and way of life. The Odyssey shows the significance of regarding the Gods. what's more, of being friendly in the Ancient Grecian human advancement. The individuals in this account went to extraordinary strides to amuse their invitees and ensure their qualities. like kiping with pig or murdering work powers who exploited people’s Xenia. The Odyssey showed juvenile students how to move. furthermore, clearly warm gathering was a cardinal constituent to a Greeks everyday life.

How Long is a Term Paper? Tips for Students and Managers

How Long is a Term Paper? Tips for Students and ManagersHow long is a term paper? A term paper is supposed to serve a specific purpose. It must be drafted for the purpose of preparing for a term as an employee at a certain place or in a certain institution.Basically a term paper is supposed to lay out the student's professional skills and past work in the respective field in order to prepare a track record. In other words, how long is a term paper depends on the expectations of the teacher or the school's administration. As the documents required by the school are too large for students to just remember and too long for individuals to keep in mind at all times, a term paper usually takes a long time to develop. It is thus a popular subject among those who pursue a college degree.In other institutions, a grade basis is used to identify a student's performance and be prepared for a special test or examination that is the occasion for a formal evaluation. While it would be of extreme ha rdship for every student to be prepared for such an evaluation, the idea is to be on the right side of the teacher or the administrator.In the case of a term paper, many students get flustered and realize how difficult and time-consuming it is to write a term paper. The workload is too high and it gets too overwhelming for most students. Furthermore, students' energies are primarily devoted to class, sports, and college activities. When you graduate and go out to find a job, you need to use the same skills that you used in school as to write a document which might well save your life.As there are some writers who would not hesitate to copy other students' term papers, plagiarism is almost a certainty if you have to write a term paper for your next examinations. Thus it is important to know your subject and use the skills that you are acquainted with to draft a term paper. These are things that every student with an interest in pursuing a degree can learn from a teacher or from schoo l administrators.Sometimes, you might have to read a term paper in order to understand its content. This would be even more embarrassing if it is at a high school or university where reading comprehension and academic writing skills are expected to be strong. Just as the desire to get high marks in an examination can increase the speed of your academic work, getting prepared to revise and compile a term paper can increase your speed of learning. At the same time, this is of great assistance for those students who are always running late to class and often cannot study during off-hours.Moreover, it would be nice to see a quality term paper which is being drafted by a student with great ease and ability to concentrate on the material and write a fine grade in it. In other words, writing a term paper is a long and laborious process, which requires concentration and reading comprehension skills. When prepared properly, a term paper can increase your ability to work your way up the acade mic ladder, thus to become a more confident and productive worker in the future.

Diabetes Mellitus Long Term Damage - 1144 Words

Introduction The term diabetes mellitus describes a metabolic disorder of multiple aetiology, characterized by chronic hyperglycaemia with disturbances of carbohydrate, fat and protein metabolism resulting from defects in insulin secretion, insulin action, or both. The effects of diabetes mellitus include long–term damage, dysfunction and failure of various organs (1). There are two main types of diabetes (2-6); Type 1 diabetes (T1B) usually develops in childhood and adolescence and patients require lifelong insulin injections for survival. Type 2 diabetes (T2B) usually develops in adulthood and is related to obesity, lack of physical activity, and unhealthy diets. This is the more common type of diabetes (representing 90% of diabetic cases worldwide) and treatment may involve lifestyle changes and weight loss alone, or oral medications or even insulin injections. Both main types of Diabetes are caused by a combination of genetic and environmental risk factors (4). However, there are other rare forms of diabetes that are directly inherited. These include maturity onset diabetes in the young (MODY), and diabetes due to mutations in mitochondrial DNA (7). In type 1 diabetes, the cause is an absolute deficiency of insulin secretion. Individuals at increased risk of developing this type of diabetes can often be identified by serological evidence of an autoimmune pathologic process occurring in the pancreatic islets and by genetic markers (8). In the other, much more prevalentShow MoreRelatedEssay on Diabetes Mellitus1381 Words   |  6 Pages1. Discuss the pathophysiology of Diabetes Mellitus. Diabetes Mellitus is a chronic condition in which the body has the inability to produce insulin or react normally to insulin. The pathophysiology of diabetes mellitus is extremely complex, as diabetes mellitus is characterized by different types but share common symptoms and complications. Diabetes mellitus is classified in two types: Type 1 and type 2 diabetes. Although the disease is characterized by different etiologiesRead MoreDiabetes Mellitus : The Most Common Disorder Of The Endocrine System957 Words   |  4 PagesDiabetes Mellitus stems from the Greek word diabetes, which means to siphon, or to pass through. Mellitus is Latin for sweet or honeyed. Diabetes Mellitus is the most common disorder of the Endocrine System. The pancreas is an organ behind the stomach that produces a hormone called insulin. When this happens, our liver compensates by increasing glucose production from amino acids and glycogen causing hyperglycemia. There are different types of diabetes; however, this paper strictly focuses on TypeRead MoreDiabetes Mellitus : A Major Public Health Problem Worldwide Essay1480 Words   |  6 PagesDiabetes Mellitus has increased in recent years due to bad eating habits and inactivity. Diabetes Mellitus is a major public health problem worldwide. Improved testing accuracy has improved which has confirmed more cases. 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In this paper, I am going to delve into how health promotion can be a significant factor in reducing the risks of Type 2 Diabetes Mellitus in the aforementioned demographic. Through academic research and resources, in my first paragraph I will be providing the definition of Health Promotion and its importance for patients with Type 2 Diabetes Mellitus. My second

`` The Moral Instinct By Paul Bloom - 911 Words

Morality can be shown, and express in different ways. Some argue that a sense of morality has been present since born, while others argue that this sense comes after experiences. In the text, â€Å"’The Moral Instinct’ (2008)† Steve Pinker argues that, moral sense has been a science that every individual create in their own in order to focus on ethics, separately of what society has established as the rights and wrongs. Giving numerous experiments that support his claim, Pinker creates a strong essay e that explains morality. Nevertheless, Pinker’s claim can be compared to other ideas. The text â€Å"The moral life of babies (2010)† by Paul Bloom extends Pinker’s argument by saying that â€Å"humans do have rudimental moral sense from the very start of life.† In the other hand the text, â€Å" Can You Call Nine Year Old a Psycopat (2012)† Jennifer Kahn complicates Pinkers text by giving opposite evidence referring to the low lev els of cortisol and below-normal function in the amygdala, provoking a lack of processing fear and social emotions towards situations. In this essay I would be creating a comparison between ideas and how they support or oppose each other’s by their evidence and claims, in order to see if this comparation creates a new perspective in my opinion of Pinker’s argument. 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Research on Global Business Opportunities

Question: Discuss about the Research on Global Business Opportunities. Answer: Introduction In the globalization of the businesses, it is essential for an Australian Pharmaceutical firm to enhance its market share, business performance, and product positioning in the global pharmaceutical industry through setting of new business ventures or operations in new destination or country including China and South Africa. This assessment will discuss the business opportunities and risks (commercial risks, country risks, currency or financial risks, and cross-cultural risks) for the company while setting up new business ventures in another destination (Bryan and Christiansen, 2014). For this report, China is preferred to South Africa as a new destination for starting the foreign business operations by the Australian pharmaceutical firm. Along with this, Strategic Alliance through merger or acquisition is selected as an entry strategy, which is a potential entry strategy that will provide the firm new business opportunities for setting of the businesses in a new destination. For this report, the Australian Pharmaceutical firm, Lawley Pharmaceuticals is selected which is planning to enter into new markets for the growth of the businesses. Background Information of Lawley Pharmaceuticals Lawley Pharmaceuticals is an Australian pharmaceutical firm founded by Michael John Buckley in 1995. It is a private limited pharmaceutical company having its headquarters in Perth, West Leederville in Western Australia. The firm is concentrated on the transdermal administration of the natural occurring hormones including progesterone, testosterone, and oestradiol. It is the global leader in the research and development of the typical hormones. Lawley works in collaboration with manufacturing partners Perrigo Australia which has world class manufacturing facility in Balcatta, Western Australia. The firm provides the solutions related to the hormones-related disorders as it is fundamentally focused on the use of natural-occurring hormones (Lawley Pharmaceuticals, 2015). Lawley specializes in the manufacturing of the hormone replacement therapy through the development of the progesterone and testosterone creams. It provides the hormone replacement therapy for the treatment of the hormo nal disorders or endocrine deficiencies (eg. Klinefelters Syndrom, Castration, Low Libido, and hypogonadism in men and Menopause, Fibroids, PCOS, Endrometriosis, Infertility, Hysterectomy, Menorrhagia, and Female Endrogen Efficiency in women). Evaluation of Commercial risks, Currency (financial risks), Country risks, and Cross-cultural risks There are different types of risks involved while operating the businesses in the new destination by the foreign company (Australian Pharmaceutical Company). These risks involve country risks, cross-cultural risks, commercial risks, and financial (currency risks) that can affect the business operations and activities of the firm while starting new business ventures by an overseas firm. The evaluation of these risks is following discussed:- Country risks- This type of risk is involved of the political instability, government legal systems and laws related to foreign investments, government intervention, protectionism and barriers to trade and investment, bureaucracy in country systems, corruption and unethical activities in the country, mismanagement or failure of the national economy, markets, and economic unrest. The political instability, economic unrest, and country legal system affect the business operations and activities of the firm while starting the new pharmaceutical ventures in a new destination. This type of risk affects the business growth, revenue, and profitability of the foreign firm caused due to the development of the countrys legal and political environment systems. The political system is a set of formal institutions constituted by the government that includes democracy, socialism, and totalitarianism systems. It includes political parties, trade unions, legislative bodies, and lobbing groups (Yuann, 2008). The legal system includes civil laws, common laws, religious laws, and mixed systems. It is a system for establishing and enforcing laws, rules, and regulations. It affects the business activities of the foreign firm, such as taxing economic outputs, protection of the intellectual rights, and resolving disputes in the commercial activities. Commercial risks- The commercial risks refer to the potential loss arising from the misunderstanding of the trading partners or the market conditions in the country. This type of risk is comprised of the partners insolvency or unwillingness to pay, differences in the trade agreements between two partners, and not acting in the accordance of the partner to comply with the country trade legislations or trade agreements. This risk also involves poor execution of strategy, competitive intensity, operational problems, poor financial strength of the partner, and timing of entry into the foreign markets. This risk affects the partner selection, market entry timing, pricing and distribution strategy, product features, and promotional themes of the company in another country (IBP, Inc. 2015). This type of risk may affect the business expansion, profitability, production capacity, and the sales growth of the company while initiating the new commercial ventures in the foreign country. This type of risk results into the potential loss or failure of the firm to execute the business strategies, procedures, and tactics. Currency risks (financial risk) - This type of risk includes currency exposure, asset valuation, changes in fiscal and monetary policies, foreign taxation, inflationary and transfer pricing. This risk creates potential loss caused from the fluctuating foreign exchange rates while the foreign investor has exposure to foreign currency investments for the exchange of goods and services. This type of risks caused from the unexpected fluctuations in the exchange rates or currency values. This type of risks is caused due to denomination of the financial transactions in the foreign currency than the base currency of the company in the Australian country. This type of risk includes the transactional exposure, translation exposure, economic exposure, and contingent exposure of the financial statements (Arora and McIntyre, 2014). The currency risk comprises of all form of international traded monies including foreign currencies, bank deposits, cheques, and electronic transfers. The changes in interest rates, exchange rates, inflation rates and currency value affect the international business operations and activities of the company. The financial or currency exchange risk affects the demand and supply of the goods and services, financial transaction, and liquidation of the financial investments. Cross-cultural risks- The cross-cultural risk is comprised of the differences in the cultures, traditions, and customer shopping patterns, cultural blunders, interpretation of culture, negotiating pattern, language and communicational differences, ethical practices, decision-making styles, differences in the customers age groups and background, and cultural pattern. It arises when the cultural communication issues affect the human values at stake. It exists due to differences in the cultural environments characterized by unfamiliar languages and changes in the human values systems, beliefs, and behaviors of the customers in another country. The cross-culture risk determines the success of the foreign outsourcing company in another country where it is planned to start the business ventures. This type of risk will affect the business profitability, customer base, sales performance, and product positioning of the company in another country (Scarlett, Koslow, Ph.D., and J. D. 2009). It w ill also affect the risk tolerance, operational processes, entrepreneurship, control system, decision-making and employees development and reward structures of the company. It will also affect the managerial roles, leadership qualities, technical competences, and interpersonal skills of the employees in another country. Opportunities and risks in China and South Africa for the Pharmaceutical business and Justification for the Chosen Country China is selected as a new destination for starting new business ventures by this Australian pharmaceutical firm because china is one of the fastest growing economies in the world that provides the foreign investors a lots of business opportunities for generating large revenues and achieving the high sales growth. Along with this, the Chinese government supports the foreign investment operations of an overseas firm by providing the sophisticated business infrastructure, technology, and labors at low costs. Additionally, there is lesser cross-cultural risk, currency risk, country risk, and financial or currency exchange risks in China than South Africa. China is one of the largest countries in the world having the most number of people in the world (Yong-Hwang, 2015). The healthcare and life science activities are rapidly growing robustly in China that has been creating lots of opportunities for the new firms. China is one of the largest pharmaceutical markets in the world that is gro wing rapidly and yet not mature. The combined forces of the economic development, government stimulus, enhanced health awareness in general public, improved research and development capabilities, market consolidation are some causes that will prove the justification for the selection of China than South Africa. China pharmaceutical market also has long chain of the suppliers, manufacturers, drug distribution companies, healthcare service providers, and medical service providers. While, on the other hand, in South Africa there is lesser population in comparison to China as there are not so much growth of the pharmaceutical business as China. The risk level is also lesser in China than South Africa as Chinese Government supports healthcare and pharmaceuticals business in China. China is the third largest economies in the world which has currently low unemployment rates, low inflation rates, and low interest rates in comparison to South Africa. Because of the high population rates in China, there is large number of customers for the healthcare or pharmaceutical products. Along with this, China has high potential markets because of the large consumer and business to business markets for the pharmaceuticals business in China. The GDP, currency value, and growth rates are higher in China than South Africa. There is no restriction on the foreign trade of the pharmaceutical products because the Chinese Government supports the foreign investments by the overseas firms. The political and legal system, technological advancement, and the economic structure of the Chinese Government support the entry of the overseas pharmaceutical firms in the host country. In addition to this, there are lesser trade restrictions on the foreign exchange of goods and services, and lowe r amount of taxes on the pharmaceutical products than the South African Country. The Chinese Pharmaceutical industry is a knowledge-based, innovative, and technological-intensive industry that supports the business ventures of an overseas firm in the host country by making the trade partnership with the local Chinese pharmaceutical firm. There is high customer base and high level of competition among the pharmaceutical firms in China that will encourage the overseas firm to enter into Chinese markets for the growth of the pharmaceutical businesses as well as enhancing the market share, business performance, and positioning of the company in the pharmaceutical world (Slideshare, 2015). The Chinese pharmaceutical industry is comprised of the pharmaceutical companies, bio-medical research centers, biotechnology firms, generic medicine companies, and healthcare centers. Along with this, there is a range of top pharmaceutical firms in China, Lawley Pharmaceuticals can expand its businesses by making strategic partnership with any of these firms in the host country. Recommendations on Entry Strategy and Justification There are several market entry strategies including Exporting, Licensing, Strategic Alliance or Partnership, Ownership, Joint Ventures, and Foreign Direct Investment (FDI). The selection of the entry strategy will depend on several factors including firms resources and capabilities, nature of competition and risks, agreed goals and objectives of the firm, the market focus, financial strengths and resource capabilities of the partnership firm, and the competition level and environmental conditions in another country. After considering all these factors, the strategic alliance or partnership is selected as an appropriate market entry strategy that will be suitable to grow the businesses of Lawley pharmaceutical company by starting new business ventures through building strategic partnerships with the Chinese pharmaceutical firms. This is an appropriate market entry strategy because of the suitability of products for the Chinese market, nature of indigenous competition in the Chinese ph armaceutical industry, and identifying customers needs (Ncube, Ndou, and Gumata, 2016). This is an appropriate strategy for the overseas firms to start the business ventures in new destinations in order to enhance the market share and product positioning of the company in the global pharmaceutical industry. This strategy will assist the firm to share the ownership rights and control over the property rights and operations. The strategic alliance is a type of business strategy that enables the business firm to achieve the agreed business objectives and long-term goals in new marketplace (Isoraite, 2009). It will also be effective to develop outsourcing relationships between the parties when the businesses are desired to achieve the long-term benefits and innovation based on mutually desired outcomes. The strategic partnership with the Chinese Pharmaceutical firm will assist to provide the expertise, technology, product infrastructure, and market access that the firm would not be able to afford on its investment. The strategic partnership will also assist to share the products and services of others as well as reducing the operating costs through joint marketing efforts or sharing of distribution channels. This strategy will assist to cover the large customer segments of these Chinese markets by making alliances or partnership with the local Chinese pharmaceutical firm (Hanna, 2009). Lawley Pharmaceuticals can choose mergers or acquisition as a strategic partnership for acquiring the business operations of the Chinese pharmaceutical firm. This entry strategy will assist to identify the customers needs and nature and intensity of competition in the Chinese market. This strategy will also assist to capture the most business opportunities by reducing the market risks (commercial risk, financial risks, currency risks, and cross-cultural risks). This entry strategy will assist the company to obtain additional sales and affiliate generates greater revenues from the Chinese markets. Advantages and Disadvantage of Strategic Alliance entry Strategy Advantages- It assumes greater control over decision-making and future directions of the firm It facilitate transfer of technology, knowledge and resource between two firms It assists to attain the common goals driving joint ventures It is effective to quickly respond to the changing technology and market conditions It facilitates simple management structure that can be adjusted easily It assists to enhance the production capacity by extending a supply chain or providing a sophisticated distribution system It assists to provide a competitive advantage through pooling of skills, knowledge, and resources It is effective in the development of new production technologies (Gekonge and Christogfer, 2013). It will be effective to increase the production capacity and sales volume It provides opportunities to access to new markets through acquiring new customers It enhances the brand awareness and access to supplementary services Disadvantages- The strategic partnership with other firm can lose some degree of control over the way in which the business is perceived The partners may have different perspectives and views on the partnership business It may create conflicts between the contracting parties over resource and profit sharing It can bring certain inherent difficulties because of lack of trust and credibility issue (Wagner and Disparte, 2016). Justification of Selection of Entry Strategy The rationale behind the selection of this entry strategy is that it will be appropriate for Lawley Pharmaceuticals in expanding the businesses by starting the business ventures in new destination through making strategic partnership with another firm. Along with this, this strategy will be appropriate for finding the nature or extent of competition and customer base in the Chinese market. This entry strategy will suit to the foreign investment operations of this Australian pharmaceutical firm. By using this strategy, the firm will be able to enhance the production capacity and sales volumes, generating higher revenues, and profitability (Richardson, Steffen, and Liverman, 2011). This strategy will be appropriate to assume greater control on sharing of resources, profit sharing, and decision-making. This strategy will be effective to develop new pharmaceutical products or services by sharing technology, knowledge, and resources of each other. This strategy will be effective to create new opportunities by reducing risks and costs. Conclusion From the above studies, it can be concluded that Lawley Pharmaceutical firm can expand its business in the international markets by starting new business ventures in the Chinese Pharmaceutical industry. China is one of the fastest growing economies that provide a lot of business opportunities for the overseas firm to grow its business by starting business operations through making huge investments. Along with this, there are lesser risks including commercial risks, country risks, currency risks, and cross-cultural risks in China than South Africa. The Chinese Government also supports the new business operations by an overseas business firm for creating more foreign investment opportunities, new jobs opportunities as well as ensuring the high economies of the firm. For this assessment, the strategic alliance or partnership is selected as a new entry strategy for initiating the business operations because this strategy will be effective to grow the businesses by making mergers or acqui sition with the local Chinese pharmaceutical firms. References BMI Research (2015). South Africa Pharmaceuticals and Healthcare Report. [Online]. Available at: https://store.bmiresearch.com/south-africa-pharmaceuticals-healthcare-report.html. (Accessed: 23 September 2016). Bryan and Christiansen (2014). Handbook of Research on Global Business Opportunities. London: IGI Global. Deloitte (2014). Opportunities in China's pharmaceuticals market. [Online]. Available at: https://www2.deloitte.com/content/dam/Deloitte/ch/Documents/life-sciences-health-care/ch_Studie_Pharmaceutical_China_05052014.pdf. (Accessed: 23 September 2016). Deloitte (2015). Pursuing Risk Intelligence In a Rapidly Changing industry. [Online]. Available at: https://www2.deloitte.com/za/en/pages/governance-risk-and-compliance/articles/operational-risks-faced-pharmaceutical-companies.html. (Accessed: 23 September 2016). Financial Times (2015). Chinas Pharmaceutical Markets: Risks and Opportunities. [Online]. Available at: https://www.ft.com/content/7c1e0385-6d70-377d-96d9-8a502e7a2539. (Accessed: 22 September 2016). Gekonge and Christogfer, A. (2013). Emerging Business Opportunities in Africa: Market Entry, Competitive Strategy, and the Promotion of Foreign Direct Investment. London: IGI Global. IBP, Inc. (2015). China Investment and Business Guide Volume 1 Strategic and Practical Information. Australia: Lulu.Com. Isoraite, M. (2009). IMPORTANCE OF STRATEGIC ALLIANCES IN COMPANYS ACTIVITY, Journal of Strategic Business Management, Vol. 1 (5), pp. 39-46. Lawley Pharmaceuticals (2015). Introduction and Background Information of Lawley. [Online]. Available at: https://www.lawleypharm.com.au/about.php. (Accessed: 22 September 2016). Ncube, M., Ndou, E., and Gumata, N. (2016). Global Growth and Financial Spillovers and the South African Macro-economy. London: Springer. Peng, W. M. (2010). Global Business. USA: Cengage Learning. Richardson, K, Steffen, W., and Liverman, D (2011). Climate Change: Global Risks, Challenges and Decisions. USA: Cambridge University Press. Scarlett, H. R., Koslow, E. L., Ph.D., and J.D. (2009). Global Business. UK: Routledge. Slideshare (2015). The four risks of International Businesses. [Online]. Available at: https://www.slideshare.net/ibc-business-strategy/dealing-with-risks-in-internationa-business. (Accessed: 20 September 2016). Wagner, D. and Disparte, D. (2016). Global Risk Agility and Decision Making: Organizational Resilience in the Era of Man-Made Risk. London: Springer. Yong-Hwang, S. (2015). Introduction: What is International Business. [Online]. Available at: https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwi9jcr58p_PAhUUHmMKHTLPBSkQFggiMAAurl=http%3A%2F%2Fgraduatebusiness.sejong.ac.kr%2FBBSNormal%2FFileDown%2F6%2F86%2F154usg=AFQjCNH9ohk5f4PlfYHg-noivc8--alOIQsig2=7uZ_kjvDywmfaXvsJQB8Mw. (Accessed: 20 September 2016). Yuann, K. J. (2008). Supertrends of Future China: Billion Dollar Business Opportunities for China's Olympic Decade. Australia: World Scientific.

Electric Cars Essays (1562 words) - Green Vehicles,

Electric Cars Electric Cars History: Early electric vehicles may have appeared as early as 1830. Scottish inventor Robert Davidson constructed the world's first prototype electric vehicle in 1837, but historians generally credit J.K. Starley, an English inventor, and Fred M. Kimball of Boston with building the first practical electric cars in 1888. Later in the in the decade, William Morrison of Des Moines, Iowa, constructed his version of the electric vehicle in 1891. His vehicle required 24 storage battery cells, took 10 hours to charge, and could run for 13 hours. It could carry up to 12 people and had a 4-horsepower motor. His car could reach speeds up to 14 miles per hour. Morrison, however, never mass-produced his vehicle. The first commercially produced electric vehicle was the Electrobat. It was manufactured by Philadelphia-based Morris and Salom Company. In 1896, the Woods Motor Vehicle Company of Chicago became the first American manufacturer of electric cars. The Electrobat was one of several electric cars, which competed in a race sponsored by Illinois publisher H.H. Kohlsaat. He had challenged inventors to come up with a car that could travel the distance from Chicago to Evanston and back (58 miles). Electric cars and gas cars competed against each other in this competition. Although none of the cars performed in an especially notable manner, the electric cars failed miserably. It seemed that the slushy country roads generated a great deal of friction, which drained the strength of the batteries quickly. Shortly after the Kohlsaat race, Thomas Edison said he believed gasoline, not electricity, would provide the dominant power source for the automobile of the future. As it looks at the present, he said, it would seem more likely that (the cars) will be run by a gasoline or naphtha motor of some kind. It is quite possible. However, that an electric storage battery will be discovered which will prove more economical, but at the present the gasoline or naphtha motor looks more promising. It is only a question of a short time carriages and trucks in every large city will be run on motors. Thomas Edison seemed to predict the future. Even so, in 1904 one-third of all the cars in New York City, Chicago, and Boston were electrically powered. By 1912, there were 20,000 electric cars and 10,000 electric busses and trucks were on the road in the United States. Only a handful of manufactures, notably Baker and Detroit Electric, made it into the 1930's. Former President Woodrow Wilson owned one of the most elegant cars of the period, a 1918 Milburn Electric. In the 1960's and 1970's a handful of electric car manufactures started to reappear because of the increasing concern about air pollution and a depleting supplies of petroleum. In the late 1970's and 1980's, manufactures started developing electric cars called hybrids. These cars have all the components of the electric cars plus an internal-combustion engine. In the late 1980's, one of the most e technologically advanced electric cars was the Sunraycer, developed by General Motors Corporation. This experimental car used solar energy to recharge its batteries. More recently, in 1996, General Motors Corporation announced the first modern, mass-produced car designed specifically as an electric car. Also in 1996, the Honda Motor Company introduced another electric car, the first with nickel-metal hydride batteries, for sale in the United States. Italian automaker, Fiat, announced it will begin making vehicles with a new, standard-sized battery based on a European standard in 1996. Technological Concepts: An electric car has a battery and a controller, connected to the accelerator pedal, for directing the flow of electricity between the battery and motor. Most electric cars use lead-acid batteries, but new types of batteries, including zinc-chlorine, nickel metal hydride, and sodium-sulfur, are in the works. The motor of an electric car harnesses the battery's electrical energy by converting it to kinetic energy. Kinetic energy is the energy that makes the car move. The driver simply switches on the power, selects Forward or Reverse with another switch, and steps on the accelerator pedal. While the internal-combustion engine of a conventional car has many moving parts, an electric motor has only a single rotating element. Like a gasoline-powered car, an electric car has a system, called a power train, of

Buy Back of Securities- An Analysis

Buy Back of Securities- An Analysis Free Online Research Papers Introduction Share capital is a very essential part of a company, listed or unlisted. Share capital can be of two types i.e. equity share capital or preferential share capital. The share capital of a company has to be subscribed by one or more persons. After the share of a company has been allotted to the subscribing members, the subscribers have no right over the money gone as proceeds of the shares subscribed. All that the shareholder has is the right to vote at the general meetings of the company or the right to receive dividends or right to such other benefits which may have been prescribed . The only option left with the shareholder in order to realize the price of the share is to transfer the share to some other person. But with the introduction of section 77A, 77AA, and 77B in the Companies Act, 1956 the shareholder can realize the price by selling directly to the company . Buy Back of Securities In general terms buy back of shares can be understood as the process by which a company buys its share back from its shareholder or a resort a shareholder can take in order to sell the share back to the company. Buy-Back of shares is nothing but reverse of issue of shares by a company . It means the purchase of its own shares or other specified securities by a company. In case of buy-back, a company offers to take back its shares owned by the investors at a specified price generally determined or arrived at on the basis of the average price of the shares in the past few months. This calculation is usually done at a premium on the market price so as to attract more number of investors, which may vary as per the financial prudence of the company . Thus, buy-back is one of the prominent modes of capital restructuring. Legislative History Under Section 77 of the Companies Act, 1956, a limited company is prohibited from buying back its own shares. The basic reason for such a prohibition was a feeling that allowing companies to buy-back their shares could give rise to companies ‘trafficking’ in their own shares leading to undesirable practices in the stock market, like insider trading or other such unhealthy influences on stock prices . There was also an apprehensions that introduction of buy-back was unlikely to improve the stock market climate, but on the contrary worsen the climate as buy-back would in all likelihood facilitate more manipulation This general prohibition has been diluted by the statute, which permits a company to buy-back its securities after following the procedural safeguards provided in Section 77A, 77AA and 77B of the Companies Act. Prior to the Amendment of the Companies Act in 1999, the laws as to the buying of its share by the companies were very stringent. There was no way a company could buy its shares back from the shareholders without a prior sanction of the Court (except for the preferential shares). In 1887, in was held in the case of Trevor v. Whitworth , that a company limited by shares may not purchase its own shares as this would amount to an unauthorized reduction of capital. The rationale for this decision was that though the creditors of the company make decisions about its credit-worthiness on several grounds, but an important ground is the amount of its share capital. If the courts had not established at an early stage that capital was ‘sacrosanct’ and could not be returned to shareholders at their whim, then share capital would not have been protected. Without this protection, creditors could find shareholders depleting share capital, with creditors left to carry all the business risks. In India, the rule in Trevor v. Whitworth was enshrined in Section 77 of the Companies Act, 1956 which prohibited a company limited by shares, or by guarantee, and having a share capital from buying or canceling its own shares, nor may a company do so indirectly, by getting another person to buy the shares on its behalf, unless it complied with the provisions and followed the procedure for reduction of share capital under Sections 100 to 104 of the Companies Act, 1956 which involved sanction by the Court. Thus, by implication, an unlimited company can purchase its own shares. Article 3(e) of Table E, Schedule 1 to the Act gives power to such companies to reduce its shares in any way . Similarly, forfeiture for non-payment of calls and valid surrender do not involve purchase of shares by the company . Any valuable consideration paid out of the company’s assets amounts to a transaction of purchase . A prohibition on the buy-back of shares thus existed by virtue of Section 77 of the Companies Act, 1956 under which a buy-back could be made only by reduction of share capital. Later, the recommendations of a Working Group on Companies Act, 1956 constituted by the Central Government, led to insertion of section 77A and 77B. This Amendment was suggested to bring Indian law in parity with its British counterpart . Thereafter, the concept of Buy-back of securities which was proposed in the Companies Bill, 1997 was incorporated in the Companies Act by the Companies (Amendment) Ordinance 1998. Section 77A of the Act refers to the power of a company to purchase its own Securities subject to the provisions of Section 77A (2) and section 77B of the Act. The Securities and Exchange Board of India (SEBI) has issued the SEBI (Buy-back of Securities) Regulation 1998, which are applicable to listed company on a stock exchange. The other companies are regulated by Private Limited Company and Unlisted Public Limited Company (Buy-back of Securities) Rules, 1999. OBJECTIVES OF BUY-BACK OF SHARES In the words of the working group which recommended the introduction of buy back in the companies act: â€Å"It is an erroneous belief that the sole reason for buy back is to block hostile take-over. In this connection it is pertinent to list five reasons why the bank of England favoured the making of law to allow companies to repurchase their shares of which blocking take-over was only one: To return surplus cash to shareholders To increase the underlying share value To support the share prices during temporary weakness. To achieve or maintain a target capital structure. To prevent or inhibit unwelcome take-over bids. Briefly a company resorting to the buy-back may have surplus cash, and it may not have found the right avenue to invest such surplus cash, during such period of dilemma the company may decide to return the surplus cash by buying back its shares, with a hope that at a later time when the company brings on an expansion the investors do not loose their faith in the company. Secondly the company might as well think of buying its shares with a view to increase the value of the shares which after the process of buy back still remain in the market. For after the shares are bought back the number of marketable shares become less and thus the prices increase. Thirdly, at times there is a slump in the share market due to no fault of the company. Though the slouch may be temporary but may have continued far too long .The management then may decide to give value to the shareholders and buy back their shares at a price higher than the market price. This is generally done to instill faith in the m inds of the shareholders. Saving a company from hostile take-over has always been seen as a major force behind bringing about this amendment, the company may use the surplus cash available in buying back its shares and bringing the number of floating shares down, resulting in the suitor not finding it a worthy investment or a profitable acquisition. These could be certain reasons why a company may resort to buy back of its shares. Thus in short, shares may be bought back by the company on account of one or more of the following reasons: To increase promoters holding; Increase earnings per share; To improve return on capital return on net worth and to enhance the term shareholder value; To provide an additional exit route to the shareholders when shares are undervalued or are thinly traded; To enhance consolidation of stake in the company; To return surplus cash to the shareholders; To achieve optimum capital structure; Rationalize the capital structure by writing off capital not represented by available assets; Support share value; To thwart hostile takeover; To pay surplus cash not required by business. MODES OF BUY-BACK The buy-back of shares or securities may be in any one or more of the following modes: existing security-holders on a proportionate basis(tender offer method); the open market through: o book building process in accordance with Regulation 17; o stock exchanges in accordance with Regulation 15; or odd lots, that is to say, where the lot of securities of a public company, whose shares are listed on a recognized stock exchange, is smaller than such marketable lot, as may be specified by the stock exchange; or the securities issued to employees of the company pursuant to a scheme of stock option or sweat equity. PROHIBITED MODES OF BUY-BACK: No company shall directly or indirectly purchase its own shares or other specified securities : Through any subsidiary company including its own subsidiary company; or Through any investment companies or group of investment companies; or If a default, by the company, has been made in respect of: o Repayment of deposit or interest payable thereon, or o Redemption of debentures or preference shares, or o Payment of dividend to any share holder, or o Repayment of any term loan, or o Interest payable thereon to any financial institution or bank. If the company has not complied with the provisions of section 159, 207 and 211 of the Act. Moreover, a listed company is prohibited from buying back its securities through negotiated deals, spot transactions, private arrangements and insider dealings . SOURCES FOR BUY-BACK The Act provides that buy-back of shares can be financed only out of free reserves -Where a company purchases its own shares out of free reserves, then a sum equal to the nominal value of the share so purchased is required to be transferred to the capital redemption reserve and details of such transfer should be disclosed in the balance-sheet; or securities premium account; or Proceeds of any shares or other specified securities. It is provided that no buy back of any kind of shares or other specifies securities can be made out of the proceeds of the same kind of shares or same kind of other securities as it will frustrate the purpose sought to be achieved by an issue and will make no sense. It can however be used for buy-back of another kind of security. CONDITIONS FOR BUY-BACK The Companies Act provides that a company can buy-back its shares only when : It must be authorised by the articles of association of the company. It is, therefore, necessary for a company proposing to resort to a buy-back to make sure that such an authority exists in its articles. If the articles do not contain such a provision, the company must follow the procedure laid down in Section 31 of the Companies Act for altering its articles to incorporate such a provision by passing a special resolution and filing a certified true copy of the same along with Form No. 23, with the concerned Registrar of Companies, for registration as required by Section 192 of the Act. A special resolution has been passed in general meeting of the company authorizing the buy-back; However, the said special resolution shall not be required to be passed if the following conditions are satisfied : o The buy-back is or for less than 10% of the total paid up equity capital and free reserves of the company, and o A resolution authorizing the buy-back is passed at the meeting of the board. Provided that no company can come out with a fresh proposal to buy back its shares within a period of 365 days from the date of the preceding offer of buy-back. The ratio of the debt owed by the company is not more than twice the capital and its free reserves after such buy-back: Provided that the Central Government is empowered to relax the debt-equity ratio in respect of a class of companies but not in respect of any particular company . The impugned shares/securities must be fully paid-up. The buy-back of the shares or other specified securities listed on any recognized stock exchange is in accordance with the SEBI (Buy-back of Securities) Regulations, 1998. The buy-back in respect of shares or other specified securities other than those listed on any recognized stock exchange shall additionally comply with the provisions of the Private Limited Company and Unlisted Public Company (Buy-back of Securities) Rules, 1999. EXPLANATORY STATEMENT The explanatory statement accompanying the notice convening the general meeting at which the special resolution will be passed should contain all the relevant particulars of the buy-back such as: All material facts, fully and completely disclosed: The necessity for buy-back; The class of security intended to be purchased by the buy-back; The amount to be invested under buy-back; The time limit for completion of buy-back. The company is also required to pass a special resolution in its general meeting after following the procedure laid down in section 171, 172 and 173. TIME LIMIT OF COMPLETION OF BUY-BACK Every buy-back is required to be completed within 12 months from the date of passing the special resolution or the Board resolution, as the case may be or where the resolution is passed through postal ballot, the date of declaration of the result of the postal ballot, as the case may be. OTHER FORMALITIES Declaration of Solvency- A declaration of solvency is required to be filed by the company with the Registrar and SEBI in the prescribed form before the buy-back is implemented to guaranty its solvency for at least a year after the completion of buy-back . It should be verified by an affidavit and signed by two directors, one of whom must be the Managing Director, where there is one. However, a company whose shares are not listed on the Stock Exchange is not required to file this declaration with SEBI. Physically Extinguishment of Securities- A Company after the completion of buy-back is required to physically extinguish and destroy its securities within 7 days of the last day on which the buy-back process is completed . Prohibition on Further Issue of Shares- A Company buying back its securities is prohibited from making a further issue of securities within a period of 6 months except by way of a bonus issue and discharge its existing obligations such as conversion of warrants, stock option schemes, sweat equity or conversion of preference shares or debentures into equity shares . Register of Securities Bought Back- A Company is also required to maintain a register containing the particulars of the brought back securities, including the consideration paid for them, the date of cancellation, the date of physically extinguishing and physically destroying securities and such other particulars as may be prescribed . Such particulars are required to be entered in the register of buy-back of securities within 7 days of the date of completion of buy-back. Filing of Return- On completion of the buy-back process, the company shall within a period of 30 days file with SEBI and the Registrar a return in e-form No. 4C containing the particulars prescribed. A private company and a public company whose shares are not listed on a recognized stock exchange should file the return of buy-back with the Registrar only . The conditions specified below are applicable to only buy-back of shares effected under the said provisions and the conditions applicable to Sections 100, 104, 391 cannot be applied to buy back of securities . TRANSFER OF CERTAIN SUMS TO CAPITAL REDEMPTION RESERVE ACCOUNT Where a Company purchases its own shares out of free reserves, then a sum equal to nominal value of the shares so purchased has to be transferred to the Capital Redemption Reserve Account referred to in clause (d) of the proviso to sub section (f) of section 80 and its details are required to be disclosed in the balance sheet . Such a transfer of capital redemption reserve account will not be required when buy-back of securities is other than shares. Further, the Central Government may, from time to time notify other securities as specified securities and such notified securities may not be shares. PENALTY If a company makes default in complying with the provisions, the company or any officer of the company who is in default shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to fifty thousand rupees, or with both. The offences are compoundable under section 621A of the Companies Act, 1956. CRITICAL ANALYSIS APPRECIATION This scheme is advantageous to the Companies as: Companies may buy-back its shares to take advantage of low share prices and hope that their value will rise quickly. Companies considering that its share price has been unfairly lowered buy-back them to give the price a boost. A company with excess cash may choose to buy its own shares rather than give out dividends. Once a company gives out dividends, investors expect them to be passed out regularly. But if the company’s cash dwindled in future years, it might have to cut the dividend and anger shareholders. A company could be taking advantage of the lower price to infuse its employee stock option program. A company may buy-back it shares to safeguard itself from hostile takeover bids. CRITICISM However, there are certain drawbacks and areas of concern in the legislation: Under section 115-O of the Income Tax Act, 1961, dividend tax at the rate of 10 % has to be paid on any amount declared, distributed or paid by way of dividend by any domestic company. However, buy-back of shares made under section 77A of the Act is not treated as dividend by virtue of sub clause (iv) of clause (22) of section 2 of the Income tax Act. It is not mandatory for a company to declare dividend under the Act. Taking advantage of this legal provision, a subsidiary may refrain from declaring dividend and transfer the entire or substantial profits to reserve. Then it can buy-back 25% of the shares at book value, which in any case will be more than the face value. These companies can wait for 6 months and issue further shares to the extent brought back. This process can be repeated any number of times. Thus, buy-back can be used to repatriate profits without paying dividend taxes by subsidiaries of foreign companies. Similarly, subsidiaries of Indian companies can also distrib ute profits without paying any dividend tax. Most of the buy-back taken place to enhance promoter’s holdings in the company rather than with a view to enhance shareholder’s wealth. In case of the multi-national companies, buy-back has been motivated by a desire to get the company de-listed from the Indian bourses. Under the present guidelines, if the promoters are able to get more than 90% shares, law permits the delisting. There is no restriction on repeated buy-backs year after year, which has resulted in increasing promoters equity stake ultimately. There is reduced cooling off period of 6 months between a buy-back and re-issue of same kind of shares within a specified period. There are reports of insider trading in some of the cases before the buy-backs are announced. CONCLUSION With the present competitive environment in India arising due to globalization and multi-nationals entering into the Indian market; it was felt that Indian companies need flexibility. Though the response to buy-back option was lukewarm in the beginning, the situation is changing and the provisions have received laudable response from the corporate world. Since the approval of buy-back of shares by companies, there has been commendable shoot up in the instances of buy-back. If one takes a peek at the web-site of the SEBI, every month on average 2-3 companies make public announcements for buy-back of shares. There are undoubtedly certain drawbacks in the Buy-back of securities in India but the benefits far outweigh the criticism. Thus, enabling Indian companies to buy-back its own shares is clearly a step towards fulfillment of long-standing demand towards liberalization of company law. ? Bibliography Dr. Avtar Singh : Company Law, Eastern Book Company A.K. Mujumdar : Company Law, Kalyani Publishers Palmer : Company Law (Vol 1), Steven Sons Ltd., London Young Patrick : Capital Market Revolution: The Future of Markets in an Online World H.K. Saharay : Company Law, Universal Law Publishing Co. Taxman : SEBI Manual Sanjeev Aggarwal : Guide to Indian Capital Market, Bharat Law House Research Papers on Buy Back of Securities- An AnalysisMoral and Ethical Issues in Hiring New EmployeesAnalysis of Ebay Expanding into AsiaMarketing of Lifeboy Soap A Unilever ProductCapital PunishmentIncorporating Risk and Uncertainty Factor in CapitalTwilight of the UAWNever Been Kicked Out of a Place This NiceComparison: Letter from Birmingham and CritoDefinition of Export QuotasThe Project Managment Office System

Money is the Root of Good Essay Example | Topics and Well Written Essays - 1500 words

Money is the Root of Good - Essay Example Ancient people graduated from Barter trade to using precious metal coins as their form of money. Gold, silver, bronze among other metals served as money in the olden days. Today, money is accepted as physical currency made of paper and coins. The growing technology has also introduced an acceptable business platform that involves online trade where currency is rarely used. These transformations aim at making exchange of goods and services easy. Even though there are various evils associated with money, money’s goodness outweighs its associated evils, thus money is the root of good stands. In the ancient world when money had not been introduced, traders used to engage in barter trade whereby goods were exchange for goods based on mutually inverse needs. It was difficult to agree on the value of goods to be exchanged due to quantity and quality differences. Traders needed to come up with a material that would be used to stop the direct exchange of goods. Money stepped in to determine the value of various goods. Moreover, it was widely accepted. It is divisible and trade has been easy since its introduction in the markets (Wollenberg para 1). Money is any acceptable material of exchange in a transaction. In a hypothetical situation, absence of money would mean that there wouldn’t be any platform to conduct trade. People would acquire goods from others by forceful means. Money has enabled trade thus it is good (Wollengerg para 2). Anything used rightfully and fairly is good. This includes money and general wealth. Wollenberg tells of a story of a poor man whose generosity elevated his financial status in the community but once he became rich, selfishness stepped in. Shannon Christman, in her article â€Å"why money is not the root of all evil† argues that its not money that causes evil but the love for money. Christman suggests that if money was the root off all evil, then religious people would be striving hard to be as

Data Handling Checklist Research Paper Example | Topics and Well Written Essays - 2750 words

Data Handling Checklist - Research Paper Example 1.2 Use data collection sheets to record data from a practical exercise (e.g. measuring temperature change over time) (p264 Chapter 28). Solution: There are a number of methods available to record the raw data. Let here we use tally chart to record the data related to measure the temperature change over time. The data recorded in table 1.2(a) is the raw data about the variation of temperature over time for a hot summer week. 1.3 Identify strengths and weaknesses of different methods of data collection, e.g. tally chart - frequency table (p274 Chapter 28 submit Question 1). Answer. Strengths of Tally chart. A tally chart is a grid used to help clearly show information as it is collected. A good tally chart, -shows the information clearly. -have clear columns and headings. -uses lines to show numbers and a total number to show the frequency. Weakness of Tally chart -Tally chart is not a good option to use for a large complex data collection. -Since Tally chart uses lines to show numbers, therefore for large data the Tally (lines) patterns are not only have an odd outlook but also cover a lot of space. Frequency Table When summarizing large masses of raw data it if often useful to distribute the data in classes or categories and to determine the number of individuals belonging to each class called the class frequency. A tabular arrangement of data by classes together with the corresponding class frequency is called a frequency distribution or frequency table. The data organized in frequency table is termed as grouped data. Strengths of Frequency Table A frequency table can split data into classes or categories. By frequency table the actual number of scores as well as the % age of scores in each interval can be displayed. A frequency table can be used to summaries categorical, nominal, and ordinal data. It may also be used to summar

Life of William Wordsworth Essay Example for Free

Life of William Wordsworth Essay William Wordsworth is considered one of the greatest poets during the English Romantic Period. He is also considered, only next to Shakespeare, one of the greatest sonneteers. There are some historians that even believe that William Wordsworth, along with Samuel Taylor Coleridge, helped launch the Romantic Period. This statement has been debated between historians, but one thing that they do agree on is, William Wordsworth shaped the literary era. The Romantic Period was a time that allowed artistic freedom. The early 60s is the closest period of time that can be related to this time in history. The creativity and experimentation of artists, poets, and ordinary people was beginning to bloom. That was a period of great change. The Classical Period was more controlling. There were strict laws of the Classical Period slowly began to change as Romanticism moved away from such control. The Romantic Period was also a movement of literary and intellectual thinking. Romanticism emphasized on imagination, freedom of feelings, and was mostly connected within the visual arts, music, and literature. Imagination was more important than logic. This period is mostly associated with the arts and poets like William Wordsworth. William Wordsworth, the most significant poet of the English Romantic Period, was greatly influenced as a writer by his childhood, love of nature, and his many relationships. According to Judith W. Page, William Wordsworth was the central poet of his age (Gale 1). William Wordsworths poetry was drawn from his amazing memory, and was mostly based on Nature, people he watched, and personal experiences. Leslie Brisman said of Wordsworth, To call William Wordsworth a Memory Poet is to note how he substitutes personal memories for other assurances of continuity, natural or divine. (276-277). Because each encounter partly transmits and partly reformulates a myth of origins, William Wordsworths work seems easy to read, when in fact, he may be the most difficult of the English Poets (278). Many of his poems were based on his own life and his interpretation of it. The memories and encounters that William Wordsworth drew from, started when he was just a small boy. William Wordsworth was born at Cockermouth, Cumberland on April 7, 1770. He was the second of five children. His father was an attorney which allowed them to live a generous life style. At home is where he learned to appreciate poetry. It was his father that gave him the gift of memory, by requiring Wordsworth to memorize poems or parts of poems, it help developed his powerful memory. Relying on his memory became the very basis of his art (Anderson 9). Growing up in the Lake District is where Wordsworth gained his early appreciation for the beauty of nature. The river that he would play in at the age of five, also had influenced his writing (Gale 2). He loved the countryside and the freedom he had to roam for long periods of time. During this time, his imagination began to bloom. Although he enjoyed periods of solitude, he was adventurous, imaginative, and strong-minded (Aubrey 2). To all accounts, he had the perfect childhood till his mother passed away in March of 1778. He and his brothers were sent to a school at Hawkshead and his sister, Dorothy, was sent to live at Halifax. During his time at school, he only returned home for the holidays. He was well educated and prospered. When his father passed away he and his brothers spent the holidays with family who would patronized them and made them feel dependent (Watson 1577-1578). It was back at school at Hawkshead where he was cared for and his direction for poetry is nurtured by William Taylor, the Headmaster at Hawkshead Grammar School. The classes at Hawkshead were well ahead of other school and were unusual for that time (Purkis 22). According to F. R. Watson, The Prelude early years is about his childhood at Hawkshead and not Penrith (1577). Geoffrey Hartman writes that nature for William Wordsworth was not an object but a presence and a power; a motion and a spirit; not something to be worshiped and consumed, but always a guide leading beyond itself. Till 1804 Wordsworth thought that nature was guiding him. It was in 1804, that he discovers it was his imagination guiding him through nature. His imagination was his guide. This realization shakes him, but does not change his point of view (85-90). William Wordsworth love for nature started at an early age. Thomas Gale writes about Russell Noyes, who in his book William Wordsworth, recounted how Wordsworth credited the river with having influenced his poetic writing: The sound of running water, he often felt, was almost part of his own being (Gale 2). During his college years, he disliked his classes and felt he did not fit in. He wrote in the The Prelude that he believed that he was not for that hour,/nor for that place. (Aubrey 2). Although he did write the poem several poems while at school, one of the more famous one is An Evening Walk, which was meant for his sister, Dorothy. The year before graduation he went for a yearlong walking tour of France, the Alps, and Italy. Several of Wordsworths poems were created from this year long walk. His love of nature was magnified as he viewed glorious mountains, valleys, and other various landscapes. The walk through the Alps inspired Descriptive Sketches. Wordsworth stated . Nothing that I ever saw in nature left a more delightful impression on my mind than that which I have attempted, alas! how feebly, to convey to others in these lines (George 10). The walking tour also gave way to the sixth book of The Prelude. The tour gave him some of his greater imaginative experiences of his life. Michelle Lee writes how Lines Composed a Few Miles Above Tintern Abbey, were composed on a walking tour of the Wye River. He advocates the power of Nature. (245) He returned to college and graduated in 1791, without honors. After graduation, he climbed Mount Snowdon, the highest peak in Great Britain. This was an important event that he later incorporates in the final book of The Prelude, giving it a great symbolic importance (Aubrey 2). After climbing Mt. Snowdon, William Wordsworth returned to France in November of 1792. During this time, the French Revolution was at its peak. This was also the time when he met and befriended Republican soldier, Michael Beaupuy. With the growing friendship between the two men, Wordsworth enthusiastically embraced the revolutionary cause. This was also the time when he had an affair with Annette Vallon, who later gave birth to his daughter. These were times that began to change and shape Wordsworth and his poetry. In 1795 he meets William Godwin and is influenced by his ideas. This is also the year that he is reunited with his sister Dorothy, with whom he is very close to. The relationship between brother and sister is also cause for several of his poems. Two years later the encounter that changes the Romantic Period, according to some historians, occurs when Wordsworth meets Coleridge for the first time. William and his sister, settled at Al Foxden in Somerset to be near Coleridge. Margaret Drabble writes that this was a period of intense creativity for both poets. This period produced the Lyrical Ballads, which was a landmark in the history of English Romanticism. The three friends, William, Dorothy, and Coleridge traveled and explored. They made new friendships notably with Sir W. Scott, Sir G Beaumont, and De Quincey (1085). These were happy times and times when he was taken mental notes that would soon turn into poetry. It was the death of his brother in 1805 that changed his joy to sadness. The death of his brother inspired several poems including Elegiac Stanzas Suggested by a Picture of Peele Castle. With the passing of his brother, William suddenly becomes opposed to Romance and Realism (Hartman 91). His brothers death was not the only death to inspire some of his greater works. The death of two of his children inspired his sonnet Surprised by Joy (Drabble 1085). William Wordsworth died in April 23, 1850. It was after his death, his sister published The Prelude, his greatest work. His life, from start to finish, is expressed in this great piece of literature. Throughout William Wordsworth life, he went through many changes. He married his long time family friend, Marry Hutchinson and had a family. His view on religion changed, along with his thoughts on the political society. William Wordsworths poems are all created from the memories of his life experiences and the visions of his travels. Through many friendships and emotional relationships, Wordsworth created some of the greatest poems of the Romantic Period. He was an influence on great poets such as; Samuel Coleridge, Lord Byron, Percy Shelley, and John Keats. There is still a question of whether or not William Wordsworth launched the Romantic Period, but there is no doubt that he shaped the literary work of that time. William Wordsworth, who was greatly influenced as a writer by his childhood, love of nature, and his many relationships, is by far the most significant poet of the English Romantic Period.

Madonna Kolbenschlags Lost in the Land of Oz Essay -- Madonna Kolbens

Madonna Kolbenschlag's Lost in the Land of Oz "In "Lost in the Land of Oz", Madonna Kolbenschlag explores the way old societal myths, which are created from the metaphors in our life, are no longer useful in today's society. The author believes we need to embrace the ego archetype of the orphan, the most influential metaphor for the self, in order to become a whole and complete person. Madonna Kolbenschlag discusses how our society is particularly hostile towards women, resulting in an acute feeling of self-loathing, doubt, loneliness, and guilt. Today, women as the orphan feel a complete sense of powerlessness and abandonment, not only by everyone around her but also by God. Instead of suppressing our anxiety, Kolbenschlag advises that we should deal with it and remove the hidden layers of denial. We need to befriend the orphan within us and through all of this we will grasp a new insight and develop new spiritual consciousness. I feel the book is geared more towards women reclaiming their cultural and spiritual power. Chapter Four, "Women-Out of the Cave, Into the Desert," discusses this issue, including the modern problems facing women and some solutions. Today, women struggle to rediscover and reconcile their new societal roles with their feminine identity. In the book, Kolbenschlag uses Dorothy of the "Wizard of Oz" as the feminine model that must confront the psychological challenges along her path in order to reintegrate her true feminine self. (p.20) Women are orphaned in so many ways by our society, but through realizing certain truths can we befriend the orphan within us. Previously, Kolbenschlag felt that there were only two levels of feminine consciousness: those asleep and those who were awaking. (p.78) However, in today's society distinguishing these levels have become more complex. Through her "liberation index," she identifies the five levels of feminine awareness of modern times, which are innocence, denial, escape, defection, and deviance. Many young women are in the first stage of innocence because they have been sheltered from the realities of life, coming from a "picture perfect" life. Poor women are also in this stage because they believe that their reality is the only way of being for them. In the level of denial, women recognize their options, but feel that it is more beneficial for them to stay in their present state. On... ...d independence is another great dilemma that I think many women go through, especially those in professional arenas and takes many of them a long time to resolve the two. Growing up in a matriarchal family, my mother has always instilled through actions the need for a woman to be independent. She raised my sister and I alone and I have seen her struggle with this dilemma, when she remarried. As Kolbenschlag said, often dependency is equated to domination, which is not what most women want. I think that sometimes everyone wishes that they had someone that they could lean on, especially through trying times, but that doesn't mean they want that person to take over the situation. I also do not believe that for a woman to be considered "independent" she must give up her femininity and individuality. In my opinion a male-dominated society has no authority to dictate the characteristics of femininity to a woman. As a conscious, young man, I know that are many obstacles in the path of women, some involving race and others gender. I am a combination of many characteristics, values, and beliefs. While I do not think I am ready to befriend my inner orphan yet, I know one day I will be.