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LIBERTY UNIVERSITY A BOOK SUMMARY THE BIBLE AMONG THE MYTHS: BY AUTHOR JOHN N. OSWALT NAME OF STUDENT: FABIOLA REID STUDENT ID: 22379938 CLASS: OBST 590 INSTRUCTOR’S NAME: DR. ALVIN THOMPSON DATE SUBMITTED: 03/03/2013 INTRODUTION The author, John N. Oswalt, begins his introduction, speaking in regards to the differences between the Old Testament, religions and cultures of the people from the Ancient Near East. As The Bible Among the Myths begins it is the assumption that while there has been no change since the 1960’s, there has been a shifted.Before then, Scholars believed that the Old Testament was true and not compared to any other, however, now scholars questioned this belief and have begun to believe that the Old Testament writings are similar to the other religions of its day. [1] Oswalt continues by discussing a most important philosophical difference within the Old Testament and its contemporaries. He states that there is a clear distinction between â€Å"essen ce† and â€Å"accident. † [2] Oswalt states that an accident can be something as similar as hair, while self-consciousness is an essential.To remove an accident will not cause change but to remove an essential, this thing will cease to be itself. [3] ————————————————- The author establishes to the reader the conception of myth also imitating the option that scholars continue to differ greatly on this definition; Oswalt insists that this ought to not dissuade the individual from seeking a good definition of the word. In order for him to define this word, he list four basic characteristics of a myth. 1. John N. Oswalt, The Bible Among the Myths, Grand Rapids, MI: Zondervan, 2009, 11-12 2.Ibid, 13. 3. Ibid. The first characteristic; mankind having little or no intrinsic value and the second characteristic was the relative lack of interest in historical studies. T he third is the practice of magic and involvement with the occult. The fourth is the refusal to accept responsibility for individual actions. [4] Oswalt concludes his introduction with a substantial claim. He emphasizes that theological claims are inseparable from historical claims. [5] Oswalt states that trustworthiness must be contingent upon both the theological and historical claims.If the historical claims are patently false, then no credence ought to be given to the theological decrees, In the end, I am not advocating a â€Å"the Bible says it, and I believe it, and that settles it† point of view, although those who disagree with me may argue that to be the case. What I am advocating is a willingness to allow the Bible to determine the starting place of the investigation. [6] CHAPTER ONE ————————————————- The first chapter discusses the Bible in milieu of its surroundings and contribution to society as a whole.Oswalt mentions that there are many contributions to way the Western world views reality. The Bible, however, is the most important contributor. [7] 4. Ibid, 14. 5. Ibid, 16. 6. Ibid, 17. 7. Ibid, 21. Greek Thought: The Greek philosophers of the early centuries brought in this way of thinking that was to have a profound effect on the western world. The belief, in a â€Å"universe† instead of a â€Å"polyverse,† adding, simple cause and effect, as well as non-contradiction were three of their most significant contributions. [8] Hebrew Thought:While the Greek philosophers were struggling to express their point of view, the Hebrews were also articulating their beliefs by way of the prophets. Their beliefs were as follows: There is only one God, God is the sole Creator of all that is, God exist apart from creation, God has made himself known to his people, God has made his will known to his people, and God rewards and pun ishes people for following or disobeying his will. [9] Combing Greek and Hebrew Thought: ————————————————-Oswalt states; when the Gospel of Jesus presupposed the Israelite worldview, penetrated into the Greco-Roman world, this set the stage for the combination of the Greek and the Hebrew worldviews in the distinctively Christian way. The Greeks’ rational thought combined with Hebrew people’s belief in monotheism. [10] 8. Ibid, 22. 9. Ibid, 23. 10. Ibid, 25 Oswalt argues that logic was not completely developed until after people realized that God not only was the sole creator of the universe, but was also completely separate from the creation.What is most important is that science and logic cannot stand on their own and if they attempt to then this will lead to self-destruction. Oswalt gives an example; Hiroshima and the Buchenwald concentration camp and human ity’s achievements when it is devoid of God’s influence. [11] CHAPTER TWO In this second chapter, Oswalt discusses his definition of myth. However before Oswalt begins this definition he begins to argue the very question with regard to the myth and why it is questioned at this time. Oswalt mentions that fifty years ago there would not be such a question.However by the 1960’s and as more scholars begin to research the Bible, more questions aroused. [12] ————————————————- Oswalt wishes to apply the appropriate classification to the Bible. Unequivocally, he describes whether or not the Bible should be considered a myth or not. In order to properly answer the question, Oswalt list several definitions posed by scholars today. As Oswalt listed these definitions, he also explains why he feels that they are inadequate. 11. Ibid, 27. 12. Ibid, 29-30. The catego ry of definitions falls under one group known ashistorical-Philosophical and they are as follows; 1.Etymological – based on a false and fictitious deity or event. 2. Sociological-Theological – the truth is seen as relative and something is seen as true if it is seen by others. 3. Literary – the events are not seen as right or wrong. Instead, the narrative employs heavy use of symbolism to express its meaning. [13] ————————————————- These definitions all have one thing in common which is at their core; they all believe in the philosophy of continuity. Oswalt states that continuity is a philosophical principle that asserts that all things are continuous with each other.Oswalt uses an example of a person being â€Å"one with the tree. † Not merely symbolically or spiritually, but actually. The tree is me; I am the tree. [14] 13. Ibid, 33, 36, 38. 1 4. Ibid, 43. CHAPTER THREE Chapter three discusses Continuity as the center of topic. Carrying over from chapter two the one thing that myths have in common at their core is the presence of continuity. This way of thinking is viewed as all things are viewed as related in some form or fashion. There are three major forces (humanity, nature, and the divine) this is where everything exists within the circle. 15] The effects of continuity are numerous and varied in accordance. One of these effects is looking at signs in nature. The effects are attempted to be explained by weather patterns, floods, fire, plagues and the celestial beings. Other examples are the effects of fertility and potency and the preoccupation of the people thereof. Oswalt uses the example of how sexuality is so central to people’s lives today is a reason for this effect of continuity. [16] ———————————————à ¢â‚¬â€- Finally, Oswalt deals straightforwardly with what he feels are the common features of myth.Excluding a few exceptions, myths all share the belief that their existence is based on Polytheism. Which is the belief of more than one god or and many gods. The second is these gods in the form of images. The use of symbols and icons are believed strongly in order to interact with nature and the divine. The gods themselves are not view highly in fact view lowly, they are not seen as actual beings. Confliction is what is needed in order for the universe to evolve and myths have a low view of mankind. [17] 15. Ibid, 48. 16. Ibid, 50-56. 17. Ibid, 57-59.CHAPTER FOUR In chapter four Oswalt reverts back to characteristics of the Bible. Here he argues with the topic of transcendence, where God (who has been in existence before the universe) interacts with all things thereof. In this Biblical thought process there is uniqueness with regard to the modern-day belief systems in many ways. How ever one must bear in mind that the Old Testament is remarkably self-consistent regarding the things it maintains about the nature of reality. [18] Oswalt provides the reader with a broaden list of some common characteristics.Monotheism, of course one of the most obvious characteristics of the Bible that stands out among other religions. With the exception of Judaism, Christianity, and Islam which are all directly correlated from the Bible. Most other religions are polytheistic. The existence of Yahweh being the only God was a defining characteristic for the Old Testament and the Bible as a whole. [19] ————————————————- Another characteristic of the Old Testament theory is that God was in existence prior to the all creation. All that exist is after God and God created it.Oswalt states that if the world is full of chaos that it is not due to God but the spirits of this worl d. Oswalt mentions that the Bible is a position to insist that the problem of humanity is not a tragic fatedness to evil, but a spirit that prefers evil to good. [20] 18. Ibid, 63. 19. Ibid, 64-65. 20. Ibid, 66. CHAPTER FIVE In chapter five Oswalt argues that the Bible is totally different from other religious writings and is unique in its self. Oswalt further discusses the issues of ethics, In the Ancient Near East; the non-biblical worldviews held two sets of ethics.One set is related to how people interacted with each other. The other set of ethics is related to how people acted upon the deities. In Bible ethics behavior was defined by God and God alone and not subject to the social changes in society, they obey God. [21] Oswalt discusses some of the similarities between Israelites and non-Israelites. Some of the practices were quite similar. The sacrificial ceremonial, the manner of their offerings, the layout of the tabernacle and temple and also the decoration of the temple al l seem similar to those of the Israelite and non-Israelite people.Their practices of expression and thought pattern were similar to where Oswalt indorses his belief that these areas are incidental and not essential to the basic identities of the people. [22] CHAPTER SIX ————————————————- Chapter six introduces the Bible and History, Oswalt points out the there is a distinction, between myths and the Bible, whereas the myths are based on many gods, the Bible is based on one God. History and the Bible run parallel to each other. Oswalt argues the idea that to state the Bible is not â€Å"historical â€Å"is something of an oxymoron. 23] 21. Ibid, 85-87. 22. Ibid, 91-97. 23. Ibid, 112. Oswalt uses Webster’s New World Dictionary of the American Language to describe the definition that he feels would best fit history. History functions on different levels. Its connecti ons could be to someone or something or both. Yet the Bible is its own form of history correlated with mankind and their surroundings. [24] CHAPTER SEVEN AND EIGHT Oswalt attempts to address some of the issues that were used against the Bible concerning its historical stance.Oswalt does mentions some gaps, progress and lack of progress, whether the Bible is â€Å"history-like† or â€Å"historical fiction† as well as how it relates to revelation and supernatural events and whether Israel is unique in these areas. [25] Oswalt makes the case in the eight chapter that the Bible is historical and completely accurate. Oswalt states this matter is of the utmost importance. While one would state that there are sections of the Bible that are not historical for example; poetic and wisdom, these too are historical because they describe people, relationships weaknesses and failures.The entire Bible is historical especially when it pertains to the history of the Jesus Christ. †”———————————————- The author states that one could argue German distinction between Historie (defining what happen) and Geschichte (telling what is going on) as being valid. [26] 24. Ibid, 112-115. 25. Ibid, 138-141. 26. Ibid, 157-168. The conclusion of this section determines that history is inseparable from theology in the Bible. Theology is in relation to the historical events. The author uses an exceptional example with regard to the resurrection to support this conclusion.He directs the reader to one of the epistles written by the Apostle Paul to the church of Corinth. The Apostle Paul states that one’s faith cannot exist without a historical belief in the resurrection of Jesus Christ. [27] If Christ was not raised then your faith is futile and you are still in your sins. (1 Cor. 15:17) CHAPTER NINE AND TEN ———————â⠂¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- In chapter nine the author discusses alternative views pertaining to the biblical narrative as it is known today. He began with the arguments of John Van Seters.Professor Van Seters emphasizes that the Bible had to have been altered by Jewish priest after Babylonian exile. [28] Oswalt mentions that the second is Frank Cross who assumes that the Bible used to be an epic poem, however was changed into the Old Testament’s current state at some point. [29] The third is William Dever who believes that Israel’s belief systems were identical to Canaanite beliefs and the Christian scholars have overlooked certain facts throughout history to portray an inaccurate account of ancient Israel. 30] Then, finally, Oswalt discusses Mark Smith and his opinion of Israel’s belief system. Mark Smith argues that Israel’s beliefs are directly originated from the Canaanite’s polytheistic beliefs. [31] 27. Ibid, 170. 28. Ibid, 173. 29. Ibid, 175. 30. Ibid, 177-180. 31. Ibid, 181-184. The author concludes this book in chapter ten where he reiterates his main points taken from previous chapters. He stresses the major theme is that contrast between biblical and non-biblical views of reality. The biblical view is deep-seated in transcendence and the non-biblical view is deep-seated in continuity. 31] In the end, we may differ on the biblical worldview and theology, given to them, but what matters in the end is how we answer the following questions: Is there a God? Does he have a will for our lives? Has he made known that will to us in intelligible actions and speech in time and space? If we answer â€Å"no† then the entire enterprise is bootless. However, if our answer is â€Å"yes† the question of what God’s will is and how he has chosen to reveal it becomes one of absolutely ultimate significance. [32] ———————â⠂¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 31. Ibid, 185. 32. Ibid, 194.REFERENCES 1. Oswalt, John, N. , The Bible Among the Myths Grand Rapids, MI: Zondervan, 2009, 11-12 2. Ibid, 13. 3. Ibid. 4. Ibid, 14. 5. Ibid, 16. 6. Ibid, 17. 7. Ibid, 21. 8. Ibid, 22. 9. Ibid, 23. 10. Ibid, 25. 11. Ibid, 27. 12. Ibid, 29-30. 13. Ibid, 33, 36, 38. 14. Ibid, 43. 15. Ibid, 48. 16. Ibid, 50-56. 17. Ibid, 57-59. 18. Ibid, 63. 19. Ibid, 64-65. 20. Ibid, 66. 21. Ibid, 85-87. 22. Ibid, 91-97. 23. Ibid, 112. 24. Ibid, 112-115. 25. Ibid, 138-141. 26. Ibid, 157-168. 27. Ibid, 170. 28. Ibid, 172. 29. Ibid, 175. 30. Ibid, 177-180. 31. Ibid, 181-184. 32. Ibid, 185 33. Ibid, 194

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Marketing management- next - Essay Example The target market for Next Direct in India mainly includes young age group of people from urban areas with higher middle income. In India, the domestic as well as some foreign apparel retailers are dominating and they are also offering online retailing services. Hence, it needs to reposition itself by offering comparatively lower priced brand products. The price is a key factor in Indian market and Next Direct must offer better discounts, offers though loyalty cards schemes. Moreover, Next Direct also needs to incorporate ethical marketing concepts for its Indian market by focusing on better consumer satisfaction level. Table of Contents EXECUTIVE SUMMARY 2 INTRODUCTION 4 PLC STAGE 5 TARGET MARKET 7 PRODUCT REPOSITIONING 10 PRICING STRATEGIES 12 ETHICS 13 CONCLUSION 14 RECOMMENDATION 15 REFERENCE 16 BIBLIOGRAPHY 17 INTRODUCTION Next Plc is a UK-based retail chain and it also present in the multiple countries like India, China, European countries, U.S.A. etc. It is primarily engaged i n the retailing business of the apparels, accessories, home products and other electrical consumer durable products. In its domestic country, UK and in Eire it has nearly 500 stores. Besides, in International markets, it is operating with more than 180 stores (Next Plc-a, 2011). Recently, the retailer faced a steep fall in its sales revenue during financial crisis of 2007-2008. However, with the recovering economy, Next Plc’s financial statements are recovering with an increase in the sales comparing to the previous financial year. With recovering economy, the competition in the market is expected to intensify as its competitors will try to the recover their losses due to financial crisis during 2008 to 2009 (Clark, 2011). In such situation, Next Plc must try to reposition itself in the competitive market by gaining effective sustainable completive advantages. However, the recovering growth rate of UK (as per GDP real growth rate 1.6%) is much slower in comparison to other de veloping countries like China and India (CIA, 2011). Therefore, opportunities in these developing countries are far better than other recovering developing countries like UK and U.S.A. Next Plc can try to reposition its apparels in the Indian retail market as Indian economy is growing at a faster rate i.e. 8.3% (CIA-b, 2011). Next Plc can focus on its apparel product segments to reposition itself in Indian market. With enhancing disposable income of the Indian consumers demand for clothes and related accessories are rising (Mirdha, 2011). PLC STAGE Kasse has explained that a PLC â€Å"is the period of time, consisting of phases that begins when a product is conceived and ends when the product in no longer available for use† (Kasse, 2008, p.56). The clothes and apparels are generally belongs to the fashionable consumer products and fashion industry keeps changing its trends by introducing multiple product developments as per current trends. Generally, clothes can be categorize d into three types i.e. fashion, fad and basic products and hence, as per three types of apparel categories, the PLC is given below. Figure 1: PLC for Apparels and Clothes (Source: Cornell University, 2006) The basic clothes and apparels are already in its declining phase and fashionable clothes are in correct trend. However, the fad clothes have the minimum life cycle as its popularity changes frequently among the youngsters. BCG matrix is a model to

Misuse of power Essay Example for Free

Misuse of power Essay The Crucible is largely concerned with the abuse and misuse of power in Salem. Discuss with reference to any three characters. The misuse of power in The Crucible leads to horrible suffering and even the deaths of some innocent people, in the town. Some characters in the play misuse their power towards other characters; some characters misuse their power in the courtroom and some misuse their power in religion (in church). In this essay I intend to look at the misuse of power focusing on the characters of Abigail Williams, Governor Danforth and Reverend Parris. Abigail Williams Misuses her power extensively throughout the play. She has most of the adults in Salem believing that she is a sweet innocent girl and so is never accused or suspended of doing anything sinful or unlawful. She also has most of the girls of Salem obeying her, due to a mixture of respect and fear, fear of Abigail and also a fear of getting in trouble for the dancing. The women of Salem are also afraid of Abigail as she could quite easily accuse them of witchcraft with no questions asked, as she is known to be sweet and innocent. Abigail did have power over John Proctor when he was having an affair with her, as he lusted after Abigail. Although she no longer has power over John Proctor as he learns during the play what she is really like when he turns her down. In act 3 of The Crucible Abigail seems to have power over court officials. When Abigail is accusing Mary Warren of witchcraft in the courtroom, Governor Danforth begins to question Abigail. Abigail replies with shock and says that she is hurt, Governor Danforth then swiftly backs off. Abigail then begins to threaten Danforth with how hell could take him in: think you be so mighty that the power of Hell may not turn your wits? Beware of it. Danforth then seems to be wary of Abigail in the next reply to her, the book describes what he says as apprehensively. Danforth has began to be aware of what Abigail is doing and decided to not get in her way or upset her, as he didnt want her to accuse him of being in contact with the Devil. If she did this it would be him on trial as well as all the others. Another point about Abigail is that she is a liar and she is very good at it. This is how she is so respected by some people and feared by others. In my opinion the reason Abigail is so manipulative and weird, and also seems to have no feeling or a conscience, is because her parents were murdered by Indians in front of her. She describes this to the girls in a hard-hearted way, which shows that her emotions have all been drained apart from her love/lust for proctor and her jealously of Elizabeth. Reverend Parris misuses his power in The Crucible because he does not think the townspeople of Salem respect his position as a man of God. The Churches power at that time was very strong and so Reverend Parris has no problem in using his power the wrong way. The way in which he misuses his power is mostly from the pulpit of the church in his sermons. He believes that the church is the authority of all people in the town. He also believes himself an authoritative figure. He believes that anyone who does not commit his or her lives to the church should be questioned. He also demands that the people of Salem are obedient to the church and himself. He says that if they are not obedient, then they will burn in hell. Reverend Parris preaching things like this in his sermon strikes fear into the townspeople, as they begin to think Hell is upon them and this causes chaos to break out, as they begin to yell and scream at one another. Reverend Parris hates to be wrong, in the courtroom even when he realised that he is wrong to accuse all the people involved, he still sticks to his beliefs however wrong they may be. Parris causes innocent peoples deaths all because of his beliefs, stubbornness, selfishness and his misuse of power. I have reached the conclusion that the characters in The Crucible do misuse their power; the two characters I chose demonstrate this theory very well. Not all the characters in the play do, but there are many characters that do. This selfish act of misusing power in The Crucible is very influential to how the plot develops. Without Abigail Williams acting like a selfish, irresponsible strumpet, or Reverend Parris being selfish and power-hungry The Crucible would have lost its whole page-turning ominous, experience.

Nature And Extent Of Globalisation Economics Essay

Nature And Extent Of Globalisation Economics Essay Globalisation in layman term, is commonly understood as the spread and connectedness of production, communication and technologies across the world. The International Monetary Fund defines globalisation as the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, freer international capital flows, and more rapid and widespread diffusion of technology. Globalisation involves the exchange of culture, practices and technologies. It is more than internationalisation, thus has powerful economic, political, cultural and social dimensions. There are three main indicators of globalisation. These are international trade, the transfer of money capital and the movement of people between countries. Retail is the sale of goods and services from individuals or business to the end-user. Retailers are part of the supply chain. There are different types of retailers, such as department stores, discount stores, warehouse stores, convenience stores, hypermarkets, supermarket, malls and e-tailers. The retail industry can be divided into several strategic groups from small to super scale. Among all these strategic groups, Tesco, Carrefour, Wal Mart, Metro AG and Kroger are global top five retailers that have similar business models or similar combination of strategies. The aerospace industry includes authorities and companies involved in the manufacturing, operating and maintenance of aircraft, engines and aircraft equipments. There are different civil aviation stake holders, such as governments (Federal Aviation Administration, United Kingdom Civil Aviation Authority, Civil Aviation Administration of China), airlines (British Airways, Cathay Pacific Airways, United Airlines), maintenance repair organisations (Hong Kong Aircraft Engineering Company, Singapore Aircraft Engineering Company), manufacturers (Boeing, Airbus, Rolls Royce), and private aircraft owners. The aviation industry can also be divided into several strategic groups which cover a large scope of business. Among all these strategic groups, Pratt Whitney, General Electric, CFM International and Rolls Royce are global top four civil aero engine manufacturers that have similar business models or similar combination of strategies. PESTEL analysis stands for Political, Economic, Social, Technological, Environmental and Legal (Appendix Table 1). It is a tool to conduct a strategic analysis and provide an overview of the different macro environmental factors that the company has to take into consideration to formulate the company strategy. In this portfolio we will focus on China Political, Economic, Technological in the areas of retail business and civil aviation. China with a population of over 1.3 billion is the worlds most populous country. China is the second largest county in the world by land area. Its total area is around 9,600.000 square kilometer. Since the economic reforms in 1978, China has become the worlds fastest-growing major economy. In 2012, China becomes the worlds second-largest economy, after the United States. It is also the worlds largest exporter and second-largest importer of goods. China is a single party state governed by the Communist Party. In 2011, Chinas GDP is around RMB47.2 trillion (1GBP=9.86RMB) , GDP growth rate 9.5%, income per capita RMB33,777, labour force 815.3 million, unemployment rate 6.1% and inflation 3.2%. The official language of China is Mandarin. English is popular among the younger. The literacy rate is 92.8%. The number of internet users reaches 500 million. Tianhe-1A worlds fastest supercomputer was developed in 2011. China has been the one of the states capable of sending human to the space. In 2009 the total sales in Chinas top 100 supermarkets is RMB575.6 billion, with CAGR of 15.6% from 2006 to 2009. The total number of supermarket outlets is 23,814. The Foreign-funded supermarket enterprise entered into China market in 2004 after the Chinese government lifted the restrictions on foreign capitals entry into Chinas retail industry. In 2009, the eight foreign-funded supermarkets including Carrefour, Wal-Mart and RT-Mart recorded total sales of RMB175.71 billions, with a total of 785 stores (Appendix 1, Table 2). The 31 domestic supermarkets (Better-Life, New Huadu, Wu Mart and Lianhua) recorded total sales of RMB391.3 billions, with a total of 23,004 stores. In the civil aviation sector, according to the forecast of Aviation Industry Corporation of China, China will have an increase of 4,583 civilian aeroplanes in the next 20 years. Chinese commercial aeroplane market will undoubtedly grow rapidly. To the year 2030, Chinas share of global aircraft fleet will increase from 9% to 15%. In addition, the business jet market has a huge growing capacity in the global industry. In the near future, China is still unable to produce its own commercial aero engine for its jets. All the civil aero engines are imported from overseas. The major players are Pratt Whitney, General Electric, CFM International and Rolls Royce. To help our clients understand the difference between United Kingdom and China Market in order to formalising their strategies, we apply the Ghemawats CAGE Distance Framework indentifying Cultural, Administrative, Geographic and Economic difference or distance between United Kingdom and China. Socio-cultural difference such as Religion and Values are important factors affecting the companies enter into China Market. Chinas traditional religions are Buddhism and Taoism while Christianity and Catholicism are two major religions in United Kingdom. Western and Chinese companies conduct business in a very different way. In traditional Chinese societies, personal contacts and relationship are built around kinship and local network especially in retail industry. English is United Kingdoms national language where in China Mandarin is the most spoken language. This difference affects more on high end civil aviation industry than the retail industry. Ghemawat says Political barriers will remain a part of the picture for those globalizing their operations. China adopted a closed door policies until the mid-1970, the liberalisation of China after 1978 has resulted in the political climate being less restrictive than before. China accession into World Trade Organisation (WTO) in 2001 is an important milestone for the countrys economy. After entering into WTO, China started the reform to liberalise trading rights, eliminate no tariff barriers, improve market access to goods and services, reduce traffic rates and protect intellectual property rights. Although Chinese government try the best efforts to promote rule of law, systemic and endemic corruption, lack of transparency, inconsistently enforced laws and regulations, an unreliable legal system and weak intellectual property protection remain to be the barriers to business profitability in China. The level of state involvement in the economy through large number of state owned ente rprise remain high creating distortions in the market and protectionist measures for local and state enterprises continue to impede fair trade and competition. After the 2008 financial crises, there is a phenomenon that many private owned business were acquired by the state owned enterprise due to lack of liquidity. Chinas time zone is eight hours ahead of London and the flying time between two capitals is around ten hours. Ongoing structural reforms in China, export growth and investment has resulted in annually real GDP growth rates of around 10% over the past 4 years. Sustained high growth has reduced poverty and creating huge demand on consumer goods and air travel which generate business opportunity in both retail and aviation industry.

Procurement Of Contruction Services Construction Essay

Procurement Of Contruction Services Construction Essay INTRODUCTION: The construction industry deals with great number of various trades and professions acting in harmony has historically always endow with risk for insurers and customers. This involves professional risks of architects, consulting engineers and risks of contractors and subcontractors that may lead to risk of professional indemnity, public and employers liability claims. The construction is engulfed a lot physical risks connected with construction sites and their hazards like structural collapse, fire, theft and vandalism. However, to create a good environment for transparency and consistency in the management of construction risks there is need for legal contracts that guide the construction services. According to (Odeh Battaineh 2002) the successful execution of construction projects and keeping them within estimated cost and prescribed schedules depend on a methodology that requires sound engineering judgement. The uses of different form of contracts have helped in recovery of payme nt, facilities payment and resolution of disputes in the construction industry. It has lead to efficient provision for payments to contractors and subcontractors. However, this coursework discussed the four types of contract that can be used to the housing association. Also, point out the benefits that may derive from the contracts and the most suitable one for housing association. Furthermore, explained with example on how New Engineering Contract (NEC3) might be suitable for adoption by the housing association and showed the suitable form of contract the housing association can reduce their maintenance construction contract costs. Finally, this coursework tended suggestions on how the organisation can reposition itself without be affected for future consultancy commission with regards to the housing association contract and conclusion. A: FOUR TYPES OF CONTRACT AND THEIR BENEFIT FOR HOUSING ASSOCIATION: 1: COST PLUS OR REIMBURSEMENT CONTRACTS 2: ALL-IN OR TURNKEY CONTRACTS 3: LUMP-SUM CONTRACTS 4: ADMEASUREMENT CONTRACTS COST PLUS OR REIMBURSEMENT CONTRACT: In this type contract, the contract sum is determined before construction work is started. Under this type of contract the contractor accepts a defined amount of work in return for agreed sum. Contracts with quantities are priced on the basis of drawings and a firm bill of quantities .Contracts with quantities are priced on the basis of drawing and another document -usually a specification or work schedules. Besides that, during the contract the amount added to cover overheads and profit can be a fixed sum, a percentage or may be on reimbursement basis. This type of contract specify the labour rates to be charged on project and insurance cost is another productive area for hidden add up to in the name of reimbursing costs. This type of contract projected to avoid this automatic risk premium to the contractor (DJC, 2006).finally, according to (Haswell De silva ,1982) the contract came into existence during the first world war and deals with target time incentives for completion on tim e that is accepted for contracts subject to target costs. According to (OReilly 1999) Cost reimbursements enable to start work before the design is finalised. It has maximum contracting flexibility and can fast track easier. This type contract there is less owner management needed and accept competitive bidding on total scope. Cost reimbursement contracts always compensate the consulting firm based on the actual number of hours worked and other direct costs involve and the contract always contain a cost ceiling. ALL-IN OR TURNKEY CONTRACTS: According to (Haswell De silva ,1982) this is the type of contract where the client asks the contractor to tender all in bid or turnkey bid, that involves the provision of the job, both the design. This type of contract is acknowledge well and applied in many part of Europe, USA than in the UK and the consulting engineer plays little part in the civil engineering industry than in the UK.This type of contract the civil engineering is likely to make a substantial profit in the project. Turnkey contract are familiar with most of the customer and several analysts continue to suggest that significant number, if not the majority, of major constructions will henceforth be executed under this contractual framework .Besides that, the client can design and construct based on his / her choice without any external body, consulting engineer and contractor. According to (Dagenais, 2003) stated that the benefit is the client transacts with a single supplier for with regards to both design and execu tion of the project that simplifies its management It helps to accelerate the project, since construction can begin even before the design process is completed. Also in Turnkey contract the client can benefit from the skills of the constructor earlier in project. However, it possible to reduce eliminates the change orders during the project. However, fewer disputes are likely to occur and, if they do will be easier to resolve. . LUMP-SUM CONTRACTS: This is types of contract deals with the total costs to produce a project, together with the overhead, builder profit and any extras that the project owner specifies. After the project the builder is responsible for delivering the project under the guaranteed cost. According to (Haswell De silva ,1982) stated that alterations on lump- sum contract are expensive and follows the same line with admeasurements contract. Lump sum contract is highly acceptable to mortgage companies and this type of contract grant the builder experience to know time frame, cost to guarantee his client for the project. Lump sum is close to fixed price than other system of computing the price and is favourable for employers ask for price certainty (OReilly 1999). This type of contract there is a smaller amount risky for both the housing association and the Consultant. Lump -sum contract is most commonly used form of contract for architectural services. There is a clear understanding of the end product before construction begins in the project. The use of Lump sum contracts are generally accepted in the building industry and are well suited to small, medium or single trade projects. However, Lump sum contracts are not presently favoured for very big projects. In this type contract the design advice is independent of the builder .This is because of the extensive time required to complete documentation before any work can commence. For example many building project in Victoria Australian have been delivered through applying lump sum contract. ADMEASUREMENT CONTRACTS: According to (Haswell De silva ,1982) this type of contract involves the Bill of Quantities where detailed lists of all items of work required to be carried out with approximate quantities are prepared and the Schedule of Rates deals with comprehensive list of the various items of work to be carried out. A schedule of rates is frequently used where the degree of works has not been or cannot be completely determined. It deals with contingency sums and provisional sums for works not fully identified in the Bills. This type of contract the contractor is paid for the amount of actual work he does and a fair basis for payment because of freedom for the alteration of work. The Schedule of Rates contract expressly rejects any revision of the rates quoted by the contractor except where the tender sum has been exceeded by a certain percentage. The important difference between these types of admeasured contract is that in the Bill of Quantities contract the total Contract Sum is the Tender Sum which is given in respect of a fixed measure of work as set out in the Bills of Quantities, whereas in the Schedule of Rates contract the total Contract Sum can be calculated only upon completion of the contract. FROM ABOVE, ADMEASUREMENTS CONTRACT IS THE MOST SUITABLE TO THE HOUSING ASSOCIATION: Admeasurements contract use of Bill of Quantities facilitates competitive tendering and evaluation of changes in the work condition. While Schedule of Rates will be useful with regards of maintenance of project to housing association. However, most contractors in the UK are well-known with this type of contract and therefore are in a position to price the work in a fair and rational manner to the housing association (Haswell De silva ,1982).furthermore, in admeasurements the unit rates tendered by contractor to individual items is fixed in the project and tender knows the conception of the work that has do with way of bills. This type of contract will provide the housing association separate bills of preliminaries, day works and general items. B: HOW NEC3 MIGHT BE SUITABLE TO THE HOUSING ASSOCIATION. The New Engineering Contract 3 known as (NEC3) is the most recent used contract for UK civil engineering projects and most part the world engineering projects.NEC3 is a family of contract that make possible the execution of sound project management principles and exercise significant legal relationships.NEC3 provides suitable environment for procurement of works ,supply and services. This is to ensure efficiency and value of construction projects is essential for civil engineers in the recent economic environment. This helps to ensure the projects are delivered on time and within budget. The NEC3 is recent day family of standards contracts that accept the concept of partnership and promotes designers, both the project managers and contractors work mutually to meet up with up customers aims. According to Humphrey Lloyd the best barrister with regards to construction law experts in world recommend the NEC3 as the suitable law contracts for construction services in the world -wide use. Through his recommendation, NEC3 has rapidly used in more than 20 countries of the world based the application of NEC3 in British and South African government. According to Institution of Civil Engineers (ICE) recommends NEC3 to public sector organisation with regards to construction services due to its use to encourage high-quality management system between parties involves in contracts. Also it is an understandable, straightforward document and applied in a wide variety of commercial situations. It helps to satisfy and meet up with clients target aims for all projects with regards to cost, time factor, quality and performance. The NEC3 also is recommended by the office of Government commerce for construction services and both public sector and government make use of it. For example, the London Olympics 2012, Channel Tunnel High Speed and Nuclear Decommissioning Authority sites used NEC3.The NEC3 is more suitable to the housing association due to the first and second editions have no provisions to deal with force majeure situations known as unforeseen events causing problems to a project site that may lead to delay of time or from being finished. For example, if a building catch shortly ahead of completion. The insurance may cover up the repair, but their no effect of delay to completion the new NEC3.Under clause 19 NEC3 the Engineering and construction contract grant project managers power to take care of unforeseen event that may stop employers main aim and the project contractor is permitted for compensation for event and its consequences with regards to time and money. The NEC3 will enable the housing association to discover, allocate and handle risk. Under NEC3 options C and D will enable the housing association know what to pay and when to pay it, for example during low inflation, they pay for goods based on the up to date market rates. Under option A provides the project with maximum certainty of price for the employer .under option E enable the contra ctor to face risk on price. While option F deals with cost reimbursable contract in so far that the employer and not the contractor bears the risk on the costs of the works contract. The NEC3 will deliberate to give consistency in the application of its core clauses and its compensation events to the housing association. The options are there prevent disputes for the contract and it permits termination at will for all the main options. However, the NEC3 is flexible and it has six main options to choose from the options to suit the housing association. C: HOW USING A SUITABLE FORM OF CONTRACT THE HOUSING ASSOCIATION CAN REDUCE THEIR MAINTENANCE CONSTRUCTION CONTRACT COSTS: According to Sir Michael Latham defined PPC200 as the full Monty of partnering and modern best practice. This is type of contract that deals with multi-party contract and founded by Association of Consultant Architects. This makes available the foundation for the partnering procedure and can be used in any type partnered project of construction services through advice of legal procedure. The PPC200 adopted radical ideas invented by the construction industry council partnering task force that guide Project Team Partnering. It is used by partnering teams that involved various project in public and private sectors From my understanding, the use PPC2000 will be suitable for the housing association to reduce their maintenance construction contract costs due to high level of integration of entire project team under a single multi-party contract and covers the entire duration of the procurement process. For example, the Joint Initiatives and Strategic Alliances under Clause 23.1 set the general key performance indicator (KPI) regime as follows: The Partnering team members shall use reasonable skill and care, within the scope of their agreed roles, expertise and responsibilities and in accordance with the partnering Document, to achieve their respective target as set out in the KPIs. Under Clause 18.1 the risk management the Partnering Team members recognise the risks involved in the design, supply and construction of the project and the costs associated with those risks for efficient maintenance construction contract costs. Also Risk management is specifically addressed with the facility to alloca te the share of risks appropriate to each team member. Besides that, the Clause 4.1 and 4.2 deals with good provision to maintenance costs. For example, Clause 4.2 states measurable continuous improvement by reference to the target and the KPIs.while Clause 4.1 states improved efficiency, cost- effectives, lean product and elimination of waste. There is tremendous mutual understanding between the Partner team member and the KPIs to reduce capital cost and whole list costs reduce accident and reduce the design, supply and construction time under Clause 4.1.PPC200 involves specialists contractors with regards to supply chain and construction processes. There is no provision for liquidated damages with the establishment of a core group. Also the core group helps to check the early warning system system for problems and reviews performance and progress to reduce maintenance construction contract costs. Under clause 6 of PPC200 provides the partnering timetables to direct all partnering team members to partnered performances, prices and supply chain and development of designs. D: SUGGESTION ON HOW MY ORGANISATION COULD REPOSITION ITSELF WITH REGARDS TO FUTURE CONSULTANCY COMMISSION TO THE HOUSING ASSOCIATION. Reposition of procurement strategy: The procurement strategy classifies the suitable way of achieving the aims of the project and value for money, through taking account of the risks involved and constraints, leading to decisions about the funding technique and asset ownership for the project. The objective of a procurement strategy is to accomplish the optimum balance of risk, funding and control to the housing association. Reposition of procurement route: The procurement route delivers the procurement strategy with regards to future to housing association. It comprises the contract strategy that will best meet the housing association needs. An incorporated procurement route ensures that design, operation, construction and maintenance are considered as a whole; it also ensures that the delivery teamwork together as an incorporated project team. Reposition of contract Strategy: the contract strategy decides the level of integration of design, construction and ongoing maintenance to the housing association, and should support the main project objectives in terms of risk allocation, delivery and other problems. There are many different contract strategies to meet up achieving Excellence principles of integration to the housing association. CONCULSION: Despite, the application of NEC3 form of contract as most suitable, I still believe other forms contract is suitable to procurement of construction services and the housing association. For example; PPC2000 was used on over  £9billion of UK construction services by 2004 and has been used in the Middle East on most of the construction services. According to RIDC survey; found that JCT contracts are used in 85% of most construction project.JCT contracts maintain big share in the market despite the increasing use of the NEC3 form of contract in construction projects. Much new building work is done under the JCT 2005 contract which has substitute JCT 1998 contract and is well understood by subcontractor. However, traditional contract is essential with regards to understand the problems and complexities of construction contracts through evaluating the relationship between the employer and the engineer, is easily to understand the obstacles that other forms of procurement try to resolve. In traditional contract, the absence of a warranty there is no contractual relationship between the employer and subcontractor and suppliers of goods and services and the third parties do not have contractual rights. It encourages little cost and time guaranteed. Besides, converting the worlds infrastructure over the coming decades to smooth the progress of a low -carbon -dioxide economy will involve clients and suppliers to have genuine confidence in long -term outcomes and returns. Through trustworthy standardised contracts that sustain project management costs down and project on track. Finally, it need global and updated information on contract status to ensure operated minimum delay and cost are properly controlled REFERENCE/BIBLIOGRAPHY Barse P.(2006) The JCT 05 standard building, sub-contract, UK. Blackwell LTD Brain E. (2009) The NCE3 Engineering and Construction Contract: A Commentary.(UK ) 2nd ed .Oxford Dagenais D. (2003) Construction law and Surety Bonds, Turnkey contracts- the clients perspective Haswell C. Silva D. (1982) Civil Engineering Contracts;Practice and Procedure. England ;Butterworth co Ltd Odeh M. Battaineh H. (2002) Causes of Construction Delay: Traditional Contracts 67 -73 OReilly M. (1999) Civil Engineering Construction Contracts, London 2nd ed , Thomas Telford Publishing Issara N. Rycroff. M. (2000)The JCT 05 Standard building Contract. Law and Adminisraction.2nd ed. Elsesiet LTD. The Daily Journal of Commerce, (2005) Cost Plus contract true costs no obvious,Portland.oregon. http://www.neccontract.com/ [last accessed on 10th Nov 2010] http://www.gmhplanning.co.uk/NEC_newsletter_45.pdf [last accessed 12th Nov 2010] http://www.ice.org.uk/Publications/NEC [last accessed 13th Nov 2010] http://www.hammonds.com/FileServer.aspx?oID=22997 [last accessed 13th Nov 2010] http://www.neccontract.com/PDF_DOC/NEC%20news-46.pdf [last accessed 13th Nov 2010] http://www.ppc2000.co.uk/documents/IntroductionPPC2000-08_000.pdf [last accessed 15th Nov 2010] http://www.minalcon.com/contracts.html [last accessed 22th NOV 2010]

Why is Beowulf considered a hero? :: Epic of Beowulf Essay

Why is Beowulf considered a hero? Many epics have been written and forgotten. Yet, the epic of Beowulf has stayed as one of the premiere examples of a heroic epic. This brings an inevitable question to mind. Why is Beowulf considered a hero? In the beginning of the story, a mythical monster named Grendel who is attacking King Hrothgar’s mead hall Herot. When Beowulf hears of this tragedy, he volunteers to go and fight the mythical beast. The author wrote, â€Å"So Beowulf chose the mightiest men he could find the bravest and the best of the Geats, fourteen In all.† Once Beowulf arrives, he is given a feast and then decides to stay in Herot overnight to confront Grendel. Grendel then arrives and kills one of the Geats before Beowulf can get into the battle. Beowulf then goes hand-to-hand against Grendel and ends up tearing off Grendel’s shoulder. Grendel then retreats to his lair to die. This is only a mere example of why Beowulf is a hero. After Beowulf tears off Grendel’s arm, he hangs it from the rafters of Herot. Grendel’s irate mother attacks Herot and takes her son’s arm and retreats back to her lair. Beowulf is called upon again to defeat this monster. Beowulf puts on his armour and takes the sword Hrunting and descends into the monster’s lair. Grendel’s mother quickly grabs Beowulf and takes him to the battle arena. Once there, Beowulf fights and finds his sword cannot pierce the monster’s hide. So once again, Beowulf throws his sword aside and fights hand-to-hand. Yet, he could not defeat her with his hands alone. Then Beowulf sees, â€Å"hanging on the wall, a heavy, Sword, hammered by giants, strong And blessed with their magic, the best of all weapons.† Taking the sword and holding it high above his head he strikes the monster in the neck cutting deep into the skin, breaking bones and all. Thus ending his second heroic battle with a mythical beast and proving that he is indeed worthy of praise. Yet, this is not the greatest of his deeds. Then 50 years later an event occurs that undoubtedly classifies Beowulf as a hero. A dragon attacks Beowulf’s kingdom and his terrorizing his people. Rather than send warriors to fight the dragon, Beowulf goes himself to fight the dragon. Taking sword and shield he engages the beast in combat. However, Beowulf runs into complications with this beast, â€Å"the iron Shield, and for a time it held, protected Beowulf as he’d planned; then it began to melt. Why is Beowulf considered a hero? :: Epic of Beowulf Essay Why is Beowulf considered a hero? Many epics have been written and forgotten. Yet, the epic of Beowulf has stayed as one of the premiere examples of a heroic epic. This brings an inevitable question to mind. Why is Beowulf considered a hero? In the beginning of the story, a mythical monster named Grendel who is attacking King Hrothgar’s mead hall Herot. When Beowulf hears of this tragedy, he volunteers to go and fight the mythical beast. The author wrote, â€Å"So Beowulf chose the mightiest men he could find the bravest and the best of the Geats, fourteen In all.† Once Beowulf arrives, he is given a feast and then decides to stay in Herot overnight to confront Grendel. Grendel then arrives and kills one of the Geats before Beowulf can get into the battle. Beowulf then goes hand-to-hand against Grendel and ends up tearing off Grendel’s shoulder. Grendel then retreats to his lair to die. This is only a mere example of why Beowulf is a hero. After Beowulf tears off Grendel’s arm, he hangs it from the rafters of Herot. Grendel’s irate mother attacks Herot and takes her son’s arm and retreats back to her lair. Beowulf is called upon again to defeat this monster. Beowulf puts on his armour and takes the sword Hrunting and descends into the monster’s lair. Grendel’s mother quickly grabs Beowulf and takes him to the battle arena. Once there, Beowulf fights and finds his sword cannot pierce the monster’s hide. So once again, Beowulf throws his sword aside and fights hand-to-hand. Yet, he could not defeat her with his hands alone. Then Beowulf sees, â€Å"hanging on the wall, a heavy, Sword, hammered by giants, strong And blessed with their magic, the best of all weapons.† Taking the sword and holding it high above his head he strikes the monster in the neck cutting deep into the skin, breaking bones and all. Thus ending his second heroic battle with a mythical beast and proving that he is indeed worthy of praise. Yet, this is not the greatest of his deeds. Then 50 years later an event occurs that undoubtedly classifies Beowulf as a hero. A dragon attacks Beowulf’s kingdom and his terrorizing his people. Rather than send warriors to fight the dragon, Beowulf goes himself to fight the dragon. Taking sword and shield he engages the beast in combat. However, Beowulf runs into complications with this beast, â€Å"the iron Shield, and for a time it held, protected Beowulf as he’d planned; then it began to melt.

Two big hearted river :: essays research papers

Of the stories on the syllabus the one that I most closely related to was â€Å"The Big Two-Hearted River† by Earnest Hemmingway. During my first reading of this story it was the setting and the action of the main character Nick Adams that I connected with. Reading the opening sentences, grand visions of my childhood danced through my head. The story took me back to happy times of summers spent alone with my grandfather in the mountains of West Virginia. Like Nick, the camping and fishing trips were a welcomed relief from the city life and school for me. Although we were in a different area of the country the wilderness seems to be the same. Like Nick I remembered being dropped off near the edge of the wilderness to hike in and go camping near the river. â€Å"The river just showed through the trees† (Hemingway 480). As with the main character the river always intrigued me as a child. It was many things such as the smell, the sound, and the being apart of nature that I liked. Most of all I really loved having the one on one time spent with my grandfather. Just as Hemmingway describes, we to would tromp through the mountains for what seemed like forever. We make the trek all in order to find that perfect spot to set up camp. I oft en felt as Nick did â€Å"His muscles ached and the day was hot but†¦felt happy† (Hemingway 468). When we came across that spot, a quote from the story says it best â€Å"He was there, in the good place† (Hemingway 471), and â€Å"The river was there† (Hemingway 467). A sense of happiness filled my body because I knew what was soon to come. We would set up the camp and get something to eat. I could feel Nick’s pain of being â€Å"very hungry† (Hemingway 470); this was one of the down sides of the trip. My grandfather would not stop just to eat we would have to find are site then we would take a break for a quick snack before setting up camp. First we would survey the site and plan the best placement for our things. Hemingway wrote â€Å"He pegged the sides out taut and drove the pegs deep† (470), this passage brought flash backs of my grandfather telling me how important it was to get the lines tight and drive the tent pegs deep into th e ground.

Chondrichthyes vs Arthropod :: essays papers

Chondrichthyes vs Arthropod The black widow is most easily recognized by the hourglass marking on the underside of its abdomen. When bitten, a neurotoxin is released that can cause dull pain and cramping in muscles, that can be accompanied by sweating and vomiting. Less than 1% of black widow bites result in death. Black widow spiders are usually not aggressive. If disturbed, they will retreat to a corner of their web. These spiders are more aggressive if they are protecting an egg sac. The natural habitat of a black widow is outdoors, under rocks, brush or piles of debris. Indoors, these spiders can usually be found behind furniture, in storage boxes, etc. A black widow's eyes are on top and near the front of its head. They have 8 eyes, arranged in 2 rows of 4 each. Some spiders have better vision than others. For example, hunting spiders have good eyesight at short distances. Their eyesight enables them to form images of their prey and mate. Web-building spiders (the black widow) have poor eyesight. Their eyes are used for detecting changes in light. A black widow's mouth opening is bellow its eyes. It does not have chewing mouth parts, and they eat only liquids. Various appendages around the mouth opening form a short "straw" through which the spider sucks the body fluid of its victim. The black widow can eat some of the solid tissue of its prey by predigesting it. To do this, the spider sprays digestive juices on the tissue. Chelicerae are a pair of appendages that the spider uses to seize and kill its prey. The chelicerae are above the mouth opening and just below the spider's eyes. Each chelicera ends in a hard, hollow, pointed claw, and these claws are the spider's fangs. An opening in the tip of the fang connects with the poison glands. When the black widow stabs an insect with its chelicerae, poison flows into the wound and paralyzes or kills the victim. The fangs of tarantulas point straight down from the head, and the poison glands are in the chelicerae. In the black widow, the fangs point crosswise, and the poison gla nds extend back into the cephalothorax. They also crush thier prey with their chelicerae. Pedipalpi are a pair of appendages that look like small legs. One pedipalp is attached to each side of the spider's mouth, and they form the sides of the mouth.

Facebook’s Initial Public Offering

The reasons for Facebook to go public In the beginning, Facebook, through its founder Mark Zuckerberg, was unwilling to go public and refused a number of buyout offers. However, it reached the 500 threshold after accepting private investments from firms, which eventually made Zuckerberg decide to go public. The Securities and Exchange Commission (SEC) requires that private companies reaching more than 500 ‘shareholders of record’ must abide by the same requirements of financial disclosure undertaken by public companies (Sloan, 2012). It is clear that Facebook’s decision to go public through an initial public offering (IPO) was not the same as the common reasons of firms when they undertake the same decision, which is to draw more revenues (Palmiter, 2008). However, in the long run, Facebook also aimed to access external financing as a result of IPO (Sloan, 2012). The reasons for companies to go public beyond their need for more money are enhanced financial condition, ability to cash out, improved corporate reputation, and improved opportunity for future acquisition (Peng, 2012). The dollar objective of every company in relation to the amount expected to be raised via IPO The dollar objectives of companies entering IPOs for increased revenue purposes are to develop reserves and increase external funds (Vedavalli, 2007; Sullivan, 2007), access capital (Dana, 2004; Ernst and Hacker, 2012), improve financial condition, increase shareholder value, and improve capital to sustain growth (Ernst and Hacker, 2012). In Facebook’s case, its stock price dwindled as there were concerns about its overpriced IPO and long-term business outlook and lost around $ 25 billion in value (Kuratko, 2012). The expected use of the money raised by IPO One expected use of the money raised by IPO is retiring from debt, in which, it is necessary to pay close attention to the company’s financial data and overall growth prospects. Another is enjoyment of the proceeds by the owners of the shares, especially for the sale of secondary shares. Moreover, sold primary shares (newly created shares) from an IPO increase revenue to the companies’ accounts (Khurshed, 2011). In the case of Facebook, the company raised a large amount of money, which has amounted to $ 18 billion. In actuality, there was no increase in the number of shares it sold to the public; instead, most of the new shares were from Zuckerberg, and such was considered not a good sign (Khurshed, 2011). References Dana, L. (2004) Handbook of research on international entrepreneurship. Glos, UK: Edward Elgar Publishing Ltd. Ernst, D. and Hacker, J. (2012). Applied international corporate finance. Berlin: Verlag Franz Vahlen GmbH. Khurshed, A. (2011). Initial public offerings: The mechanics and performance of IPOs. First Edition. Hampshire: Harriman House Ltd. Kuratko, D. F. (2012) Entrepreneurship: Theory, process, practice. NJ: John Wiley & Sons. Peng, M. W. (2012). Global strategy. Mason, OH: Cengage Learning. Sloan, P. (2012). Three reasons Facebook has to go public. Retrieved on December 3, 2013 from http://news.cnet.com/8301-1023_3-57368449-93/three-reasons-facebook-has-to-go-public/ Sullivan, L. R. (2007). Historical dictionary of the People’s Republic of China. Maryland: A Scarecrow Press, Inc. Vedavalli, R. (2007). Energy for development: Twenty-first century challenges of reform and liberalization in developing countries. London: Anthem Press.

Employment and Trade Unions Essay

concession on industrial traffic in Bangladesh Submitted To professor Dr. Moniruzzaman Course Teacher Dept c solely(a)ing Administration Stamford University Bangladesh Submitted by Submitted eon Date 10/04/2014 Letter of Transmittal April 10, 2014 Professor Dr. Moniruzzaman De component partment of Business Administration Stamford University Bangladesh. exit Submission of Internship Report. Dear Sir, It is a owing(p) pleasure and privilege to present the typography titled industrial dealings in Bangladesh which was assigned to me as a part for the competition of MBA Program.Throughout the study I stupefy seek with the best of my skill to accommodate as much tuition and relevant issues as possible and tried to follow the instructions as you have suggested. I tried my best to mold this report as much informative as possible. I sincerely look at that it lead satisfy your requirements. I that sincerely believe that this report exit behind serve the purpose of my course (Industrial Relation). I am grateful to you for your guidance and assortment co-operation at every step of my strain on this report. My effort give be reworded completely if it adds value to the research literature. first appearance One of the major functions of human alternative vigilance is to maintain smooth industrial transaction (IR). It is also treated as one of the oldest functions of HRM. It is basically allied with the dealings amidst the employer and the proles in the industry (Singh & Kumar, 2011 3). agree to Weeratunga (20035) Industrial Relations or project Relations, the terms used interchangeably, can be viewed as the interaction among the various(a) interested parties involved in enjoyment. The employer and the employee ar obvious parties.The state, in ensuring a take aim playing field for both sides, provides the well-grounded framework within which much(prenominal) dealings whitethorn take place. In industrial relations, workers argon generally correspond by their stack articulations formed at a lower place(a) chapter 13 of Bangladesh tire Act2006 w presentas employers atomic number 18 represented by their stands such as Bangladesh Employers Federation. HR managers mediate the relationships surrounded by workers and employers though they be ap adverted by the representatives of employers. an new(prenominal)(prenominal) related term is Employee Relations.though both the terms industrial relations and employee relations ar structurally analogous (Decenzo& Robbins, 1999 18), employee relations includes, in addition to industrial relations, such aspects as participative counselling, employee wellbeing, employee increase, employee compensation, employee valueion and health, and the similar (Aswathappa, 2008534). Generally industrial relations compensate the areas such as grapple centres, corporal dicker, settlement of industrial dis commites, grievance handling procedure, role of governing body, unde rtaking laws, courts and tribunals and role of employers.In the context of developing countries, industrial relations has been yieldd by features such as elevated exploitation of workers, low aim of worker engagement in decision making, government and policy-making interferences, high rate of analphabetism of workers, low level of employment, low level of awareness among the laborers regarding rights, laws, and concern sum of moneyism, and low labor productivity (Khan &Taher, 2008 222-23). Industrial relations plays an consequential role in establishing and maintaining industrial res eartha (Monappa, 2004 9) and it is the key to improve productivity in industrial enterprises (Aswathappa, 2004 534).Human resource management can play vital roles in enhancing cooperative and friendly industrial relations. In Bangladesh, bodied dicker on endure between employer and workmen is prohibited in the public domain enterprises as the government designs changeless pay and benefits for the employees of all public empyrean enterprises (Mahmood, 2008). The limited scope of corporal stealing in the public sector of Bangladesh influences the trade unions to develop network with government, political parties and other powerful bodies in organizing their activities.It hinders effective interactions between the representatives of employers and workers at enterprise level. Though achievement ground pay is considered to have fundamental impact on employee performance (Dessler&Varkkey, 2010 15), it is not at all practiced by the public sector enterprises in Bangladesh. As a result, public sector enterprises in Bangladesh have been incurring huge losses. On the other hand, all types of collective dicker takes place at enterprise level in case of tete-a-tete sector enterprises (Khan, 1996).Mahmood (2008) mentioned that the industrial relations process in the private sector was often macabre by links between private and public sector unions. Objectives a) To explo re the inconsistencys between public and private sector industrial enterprises of Bangladesh with respect to overall status of IR. b) To put forward policy implications of overall return in IR of Bangladesh. Industrial Relations Studies in Bangladesh Khan (1986) studied industrial relations in Bangladesh with special vehemence on trade unionism. mountain totals alternate Union is an organization of workers who have band together to achieve common goals such as protecting the integrity of its trade, achieving high(prenominal) pay, increasing the number of employees an employer hires, and better work conditions. An overdressd association of workers in a trade, group of trades, or profession, formed to protect and further their rights and interests. A group of employees in a particular sector, whose aim is to do with employees over pay, gambol security, operative hours, and so forth using the collective power of the members.The or so common purpose of these association s or unions is maintaining or improving the conditions of their employment. Causes of organizing trade unions proviso of benefits to members professional training, legal advice and representation for members is shut up an all measurable(p) benefit of trade union membership. Industrial action condescension unions may lend oneself strikes or resistance to lockouts in furtherance of particular goals. political activity Trade unions may promote order favourable to the interests of their members or workers as a whole.To this end they may pursue campaigns, squeeze lobbying, or financially support various(prenominal) candidates or parties. Conditions of employment and any grievances are settled through trade unions. talk terms rights Trade unions bargain and ensure the status, rights, bribe and pick outs of workers of the modern world of industry. Contri plainlyion in economical growth Trade unions are growing rapidly in an sparing because of the expansion of business and ec onomical growth. Objectives Trade unions are the only direction to manage, compliant, and take the labour force. Lots of objectives are on that point to organize trade unions.To defend or improve the wages and workings conditions of workers and to remove slightly a change in the economic order. 2. To postureen their (labour) talk terms power collectively to establish and achieve all their rights. 3. To dully protect all other interest of the workers . And from the managements point of view the objectives as written a) To precipitate the number of negotiation. b) To specify work rules, disagreements and grievances to cause the better solution to workers claim. c) To establish the economical communicating between the employers and management to enforce the predictable standards.To enhance the overall organizational effectiveness workers can also be sometimes inspired to form and organize trade union. In fact, objectives of a trade union are not defined instead these are changing harmonize to the need of the economy and overall industry. When these objectives are not settled then the rivals are started History of Trade Unions The Pakistan Period (1947-71) -The vitamin E Pakistan Trade Unions Act, 1965 was enacted repealing the Trade Unions Act, 1926. -The Labor Disputes Act, 1965 was enacted. -Industrial Relations Ordinance, 1969 was enacted integrating the above two Acts.The Industrial Relations (Amendment) Ordinance, 1977 liberalized the Rights of Freedom of Association -The Labor Policy of 1980 restored the right to emancipation of association to a considerable extent -In 1982 the array regime banned trade union activities, strikes, and right of freedom of association. Limitations In Bangladesh Trade Unions have a lot of required problems 1. wish of consciousness Trade union are not actually only aware about employees legal rights and duties. 2. Lack of Unity In Bangladesh trade unions are separated for political influence. 3.Lack of cognit ion The workers of Bangladesh dont have ample knowledge about their rights and duties. 4. Political influence In Bangladesh, trade unions work a part of political parties not as a free right livery association. 5. Division of trade union Bangladesh is a orbit where every organization has much trade unions in name only. The overall productivity got down. Suggestions Strengthening bilateral collective negotiate for solving problems quickly and effectively. numerosity of trade union creates the rivals in a union. So it must be chastend. Political involvement must be reduced. arrangement must support financially as trade unions support the worker. Training programs under trade union should be right-hand to develop the skills of the workers. Trade unions function should be make upd and widened throughout the organization. Union leader must be given importance and encourage the members. If combining between workers and management increases, productivity increases. concern must h elp and guide trade unions to settle industrial clashes and crisis. Trade unions forever and a day should demand reasonable thing to the management. . What is a struggle?Academically speaking, industrial gainsay refers to any conflict between employees and employers, between employers and employers and between employers and employees. But in reality, dispute is understood as the conflict between employees and employers. There are three types of Disputes corrective disputes Grievance disputes Industrial disputes According to Industrial Dispute Act, 1947, Industrial dispute kernel any dispute or difference between employers and employers, or between employers and workmen, or between workmen and workmen, which is connected with theemployment or non-employment or terms of employment or with the conditions of labour of any person.Causes of Industrial Disputes any(prenominal) of the prominent causes of industrial disputes may be listed thus Employment The list here includes di sputes over wages, allowances, bonus, benefits, working, condition, unjust dismissals, downsizing of workers, methods of job evaluation, changes in methods of production, non-implement of awards of tribunals, etceteraThe National deputation on Labor remarked though on majority of occasions industrial disputes were based on claims pertaining to the terms and condition of employment, sometimes economic issues of a general feature dominated and, on occasion, purely motives. The causes of industrial disputes can be broadly separate into two categories economic and non-economic causes. The economic causes will include issues relating to compensation like wages, bonus, allowances, and conditions for work, working hours, leave and holidays without pay, unjust layoffs and retrenchments.The non economic factors will include victimization of workers, ill intervention by staff members, sympathetic strikes, political factors, undiscipline etc. Wages and allowancesSince the greet of livin g index is increasing, workers generally bargain for higher wages to meet the ascent cost of living index and to increase their standards of living. In 2002, 21. 4% of disputes were caused by demand of higher wages and allowances. This percentage was 20. 4% during 2003 and during 2004 increase up to 26. 2%. In 2005, wages and allowances accounted for 21.8% of disputes.Personnel and retrenchmentThe military force and retrenchment have also been an important factor which accounted for disputes. During the category 2002, disputes caused by force were 14. 1% while those caused by retrenchment and layoffs were 2. 2% and 0. 4% respectively. In 2003, a similar burn could be seen, wherein 11. 2% of the disputes were caused by force, while 2. 4% and 0. 6% of disputes were caused by retrenchment and layoffs. In year 2005, only 9. 6% of the disputes were caused by personnel, and only 0. 4% were caused by retrenchment.Indiscipline and violenceFrom the given table, it is evident that the n umber of disputes caused by indiscipline has shown an increasing trend. In 2002, 29. 9% of disputes were caused because of indiscipline, which rose up to 36. 9% in 2003. Similarly in 2004 and 2005, 40. 4% and 41. 6% of disputes were caused due to indiscipline respectively. During the year 2003, indiscipline accounted for the highest percentage (36. 9%) of the total time-loss of all disputes, followed by cause-groups wage and allowance and personnel with 20. 4% and11.A similar trend was observed in 2004 where indiscipline accounted for 40. 4% of disputes. BonusBonus has always been an important factor in industrial disputes. 6. 7% of the disputes were because of bonus in 2002 and 2003 as compared to 3. 5% and 3. 6% in 2004 and 2005 respectively. Leave and working hours Leaves and working hours have not been so important causes of industrial disputes. During 2002, 0. 5% of the disputes were because of leave and hours of work while this percentage increased to 1% in 2003. During 2004, only 0.4% of the disputes were because of leaves and working hours.The miscellaneous factors include Inter/Intra Union Rivalry Charter of Demands Work vitiate Standing orders/rules/service conditions/safety measures Non-implementation of agreements and awards etc. corporate Bargaining corporate bargaining includes not only negotiations between the employers and unions but also includes the process of resolving labor-management conflicts. Thus, collective bargaining is, essentially, a recognized way of creating a system of industrial jurisprudence.It acts as a method of introducing civil rights in the industry, that is, the management should be conducted by rules sort of than arbitrary decision making. It establishes rules which define and clip the traditional authority exercised by the management. immenseness to employees ? Collective bar aining develops a reason of self respect and responsibility among the employees. It increases the strength of the workforce, thereby, increasing their bargaining capacity as a group. Collective bargaining increases the team spirit and productivity of employees.It restricts managements freedom for arbitrary action against the employees. Moreover, unilateral actions by the employer are also discouraged. Effective collective bargaining machinery strengthens the trade unions movement. The workers feel motivate as they can approach the management on various matters and bargain for higher benefits. It helps in securing a prompt and sportsmanlike settlement of grievances. It provides a flexible essence for the adjustment of wages and employment conditions to economic and technological changes in the industry, as a result of which the chances for conflicts are reduced.It becomes easier for the management to interrupt issues at the bargaining level rather than taking up complaints of individual workers. 2. Collective bargaining tends to promote a intellect of job security among employees and thereby tends to reduce th e cost of labor turnover to management. 3. Collective bargaining opens up the channel of communication between the workers and the management and increases worker participation in decision making. 4. Collective bargaining plays a vital role in settling and preventing industrial disputes.Collective bargaining leads to industrial peace in the country 2. It results in establishment of a harmonized industrial climate which supports which helps the pace of a nations efforts towards economic and friendly development since the obstacles to such a development can be reduced considerably. 3. The diversity and exploitation of workers is constantly being checked. 4. It provides a method or the regulation of the conditions of employment of those who are directly concerned about them.