An Inspector Calls - Differences And Comparisons O Essays - Theatre

An Inspector Calls - Differences And Comparisons O Essays - Theatre An Inspector Calls - Differences And Comparisons Of Arthur B. And Sheila B. An Inspector Calls by JB Priestly Differences & Comparisons between Mr B. and Sheila Arthur Burling is the main man in the Burling family, and seems to control it, i.e. whatever he says - goes! The play is set in an imaginary town called Brumley, somewhere in the North of England. Mr. Burling has a selfish attitude towards life, and also an attitude to only care for himself and family, and basically forget everybody else, in fact, this is exactly what he tells a speech on at the celebration of Sheilas and Geralds engagement, ... a man has to look after himself - and his family too, of course... which gives the impression of the selfishness, and also greed. Another example of this is when he tells a speech about how it is the best day of his life, Gerald, Im going to tell you frankly, without any pretenses, that your engagement with Sheila means a lot to me. Shell make you happy, and Im sure youll make her happy. Your just the type of son-in-law I wanted... makes people think whether he wants them to get married for themselves, or for him, and whether it means a lot to him sentimentally, or a lot to him in the business world. Burlings first priority is to make money, Its my duty to keep labour cost down and is also a social climber, and Sheila is engaged to the son of his friendly rival, which is why it could mean a lot to him in the business world because Geralds father is in a higher class than the Burling family. We can see that he is a man that tries to make everything better by using his money, Look inspector, Id give thousands.... I think this may be a domineering attitude, because he wants to dominate people, and do all he can to do it, which reflects on how he treats his employees. In his factory, there is certain employees which ask for a pay rise, but Burling refuses to pay more than the going rate. Burling can afford the pay rise, but returns by sacking one member of the strike pack, Eva/Daisy Smith. After this, Burling was blamed for starting the domino effect of Eva/Daisys suicide, but refuses to accept the blame. Appearance plays a big part of Burling as well. How he looks is very important to him indeed in the respect that he always has to look posh and always dresses cleanly and smart. I think he does this not because he always want to be clean and smart, but to keep a good reputation with other high class people, and not to make them think that he is any lower than themselves. When the inspector asks questions to/about his family, he tries to protect his reputation by acting the innocent to the questions, even though we know, that he knows the answers to the questions, but wont tell them, to protect his reputation (hard to explain!!). Burling cannot see the consequences of neither his, nor his familys actions. We know this because Burling makes comments which seem ridiculous to us now, in the 90s and the year 2000. Things like the Titanic being unsinkable and that European nor World war would never happen. According to Burling, war will never happen because in his eyes, it would affect business, but Burling does not stop to think that people may care more about things other than business, which is why he cannot see the consequences of his own actions and is also another example of the selfishness within him. Burling hates stealing. When Eric (Burlings son) steals 50 from Burliness office, he cares about nothing more than that he stole from him, and the amount he stole (because 50 was quite a bit of money in 1912), and Burling wasnt really concerned why Eric stole the money. Burling then exclaims, You dammed fool - why didnt you come to me when you found yourself in this mess?. Erics reply indicates that Mr. Burling was never close to his son, Because youre not the kind of chap a man could turn to when hes in trouble. Such a response indicates that things arent going to improve much after the play ends, and also indicates that there may be a bad family relationship. Sheila is Mr. Burling and Mrs. Burlings daughter, and is engaged to Gerald, Burlings rival. Sheila has a totally different attitude to Burling, and we see this emphasized as the play progresses. She is very happy with life at the beginning of the play, young, and

Believing in God first paper Essay Example

Believing in God first paper Essay Example Believing in God first paper Essay Believing in God first paper Essay (a) Atheism is the word that means that god does not exist(b) One religious experience is a miracle. A young boy, who was handicapped since born, could not eat, walk, speak or do anything for himself by himself. His parents took him to bibi Fatimas grave (holy Islamic bibi) and as soon as the boy touched the holy grave, he was cured, he was speaking and walking. His parents were full of joy and could not believe there eyes. All who were there, around the boy, who saw what had happened, wanted to touch him as he was a miracle; Allah performed this miracle via bibi Fatima. This is a religious experience.(c) A religious upbringing may lead someone to believe in god as if all your life you have been taught that there is a god then there is no reason why you would doubt that and automatically believe that there is a god as this is what your parents have taught you and what you have always heard. I am a Muslim and have been brought up in a Muslim household and so I know what it is like. I always have and always will believe that there is a god because this I what my parents have told me and this is my religion.I will never ever doubt that because I have seen miracles like that young boy, I have heard everything that my holy prophets went through in order to keep Islam, and so I know that there is a god. However, if I wasnt bought up in a Muslim household, but in a household of no religion, then I dont think that I would have believed that there is a god because my parents never told me and I would not have been bought up being told that there is a god or read the holy quran which tells me that there is a god and Mohammed is his messenger.(d) There is plenty of evidence that God existsI agree with this statement as I believe that miracles prove that god exists. I dont think that any human could perform a miracle and only something with an enormous amount of power could do that. Also the fact that there are so many religions that believe in god should surely tell you t hat there must be something out there seeing as millions of people believe there is.Matters of life and death paper 4Question 4(a) Voluntary euthanasia is when someone is dying in pain and so asks his or her doctor or friends/family member to end their life painlessly.(b) In Judaism, many Jews do not allow euthanasia as many passages form the Tenakh (Jewish holy book) teach that life and death are only in the hands of god and it is up to him to take life of give life, no-one else has that right. Also, they think that god gave life and so he should be the one to take it back. However some Jews believe that in some circumstances it is acceptable, such as switching of a life support machine as they think that striving to keep someone alive is interfering with gods will and the soul should be free to go to god.(c) There are different attitudes in Christianity about what happens after death because some believe that there is the resurrection of the body, they believe this because it is what St Paul teaches, it was Jesus body that rose from the dead and it is part of the Christian creeds. However many believe in the immortality of the soul. This is because, Jesus said the criminal on the cross would be in paradise straight after death, the communion of saints teaches that living and dead Christians can communicate with each other and things like near-death experiences when people say there soul has left there body and gone down a tunnel of light to god show the immortality of the soul. Christian believes that life after death may be different, but all Christians believe in life after death and this gives their lives purpose and meaning.(d) Every woman should have a right to an abortion if she wants oneI agree with this as if the woman was raped and got pregnant, I dont think it fair for her to keep that baby as a constant reminder of what happened to her. Also, if a 16 year old girl has a one night stand and as a result of this gets pregnant, I dont think it is fai r on the child to bring it in to the world when the mother cant support it, and may not want it so doesnt really love it. This gives the child an unfair disadvantage before it has even come into the world.Marriage and family life paper 2Question 5(a) An extended family is aunts/uncles/grandparents living with the mother, father and children or living close with lots of contact..(b) In Christianity, sex before marriage is not allowed because the bible teaches that fornication is wrong and many Christians believe fornication is sex before marriage. Also, church leaders say the pre-marital sex is a sin. However, some Christians believe it is okay as long as the couple love each other, have been in a long term relationship and intend to get married eventually. This is because, Jesus taught that love is the most important thing, the bible does not specifically condemn marriage and the church has come to terms with modern attitudes to cohabitation.(c) Family life is important in Judaism because Jews believe that family is at the heart of religion. The Halakhah says the parents should care for their childrens material needs, parents should make sure that all Jewish food laws are kept in the home, parents should teach their children about Judaism and their duty as Jews, parents should set a good example of the Jewish life especially by the festivals in the home and children are expected to be a comfort to their parents and be a comfort for them in their old age. Jews believe that family life is very important because, it was creates by god to keep the family together, it is the only way god wants children to be brought up, it is the place where children learn about Judaism and the festivals celebrated, the family is the only way of keeping Judaism alive and having family is one of the mitzvot which all Jews have to follow.(d) Living together is better then getting marriedI agree with this as I think living together is like a trial run of how life would be if you were marries and so if you are always arguing it isnt a good idea to get married. Also, if you were married and things werent right but you had children then the children would be caught in this but if you are only living together and have no children then it is easier to let go if things arent working out without putting kids through it.Social harmony paper 1Question 7(a) Equality is where everyone is the same no matter what there gender/class/race/colour.(b) Christian teachings on racial harmony are that all forms of racism is wrong and that Christians should make more racial harmony. This is because, Jesus treated people of different races equally, St peter had a vision form god telling him that god has no favourites among the races, god created all races in his image and all Christian churches have members, ministers and priests of all races and colours.(c) Trying to convert someone may cause problems in a multi-faith society because this may seen as being discrimination towards th e other religions, as if to say we are better and more inferior and superior then you so they should come in our religion as our religion is the right religion. Also by doing this other religions may feel threatened that our followers are going into other religions causing them to feel unequal and feeling they have to retaliate by doing something that the other religion then feels discriminated against.(d) A mans place is in the homeI do not agree with this as I personally feel that it should be the man who is out working in order to put food on the table and the woman should work or then stay at home and do the housework as well as look after the kids. I dont think that the man should be the one who to be at home and doing the housework and the cooking but should be the one who makes that happen by going out and earning the money for his family.

Article Example | Topics and Well Written Essays - 250 words - 24

Article Example His sentiments do not support a patriarchal system since he recognizes that God the creator created all men as equal. He supports a free Government that the people decide to elect. That is, if the people select women leaders, so be it the will of the people. Jefferson uses the parallel structure when outlining the grievances that they have against the British Government. To achieve this, there is a consistent use of the words ‘He has’. By so doing, he emphasizes on the importance of each grievance listed. The accusations on the frustration of the state governance and accent of laws are serious. However, the accusations of the British government starting a war against the American people can cause serious revolution. ‘A prince whose character is thus marked by every act which may define a Tyrant†¦Ã¢â‚¬â„¢ This sentence comes, toward the end of the declaration, to summarize the accusations to the king and provide an opportunity to denounce his

Forensic Evidence Research Paper Example | Topics and Well Written Essays - 1250 words

Forensic Evidence - Research Paper Example Current technological trends have revolutionized the methods of storing data along with different advanced access mechanisms. These systems facilitate law enforcement agencies by providing instant access to these characteristics. Although, computer forensics also facilitates in investigation of crimes within themselves in order to gather evidence associated with criminal activities that breaches violation of an organizations policy. The data can be extracted from storage devices including hard drives, flash drives, memory cards etc (Computer forensics – a critical need in computer, n.d ) Every online user leaves behind logs related to activities that he or she performs online. This digital traceability can reveal activities that are performed by the user on the Internet by identifying who has identified which files along with logs of each website visited. Temporary files can also reveal flash templates and buffered videos. These traceable logs, files, cookies, templates can fa cilitate a great deal to analyze crimes that are committed from computers and may provide solid evidence against the hacker or cyber-criminal. However, many users trust in files after deleting them from the hard drive but there are many ways and methods via which these files can be recovered. The operating system usually does not delete complete files from the hard drive, even if the user deletes the files from the recycling bin. The files are still present, until they are replaced or overwritten by new files. These traceability factors can lead to aid in forensic investigations and can track down criminals by investigating their computer. For instance, during the execution of a search warrant at the residence of John Robinson who was a serial killer, law enforcement agencies discovered two bodies that were badly decomposed along with seizing of five computers (Computer forensics, n.d ). After investigating computers, it was discovered that the serial killer John Robinson was using internet to find people to schedule a meeting. Afterwards they were killed by sexually assaulting them. These facts were only possible by forensic computing techniques and were not possible by physical evidence and investigation (Computer forensics, n.d ). However, many techniques are associated with forensic computing, few techniques are categorized in to two groups i.e. Graphical User Interface (GUI) based forensic tools and Command line forensic tools (Conklin 2005). The command line tools are relatively small, they can be stored in floppy disks as compared to heavy, and slow GUI based forensic tools. However, command line tools also share some disadvantages in terms of their limitations as they are not capable to identify .zip files and .cab files. GUI based tools provide a graphical user interface and is said to be user friendly because specialized knowledge is not required as compared to command line tools requiring commands on every operation. The disadvantage for GUI based t ools is that they are large and cannot be saved in a floppy disk (Conklin 2005). Similarly, organizations also require a proactive approach for threats that may penetrate within the internal network and extracts or expose sensitive information. There are many ways of forensic data acquisition on a network; we will only consider best practices. Network-Based Evidence Acquisition Practices Network management is effective on many vital management functions. If any one of them is not properly configured, effective network management is not possible. Data acquisition is classified as a vital management process that needs to be addresses proficiently. Likewise, Wireshark will only utilize data that is available

Law and Economics Essay Example | Topics and Well Written Essays - 1500 words

Law and Economics - Essay Example The back and forth between RIAA and the MPAA (Recording Industry Association of America and the Motion Picture Association of America) and copyright infringement has been a staple of the news since Napster was originally shut down back in the last 1990’s. Originally, groups such as the RIAA and MPAA have targeted the copyright infringer themselves; however, the specter of taking a 12 year old girl to court and forcing a settlement on her that equates to tens of thousands of dollars in judgment per song downloaded was counterproductive to their cause. The copyright battle has digressed into a type of action/reaction battle that pits private entities against oftentimes ill-informed web-users caught between an oftentimes impartial judiciary branch. As such, the MPAA and RIAA changed their tactics and began to target the method through which the files were being shared; namely, the torrent trackers that hosted the content. This method failed to achieve the desired result as torren t trackers merely moved their servers to nations that were outside the jurisdiction of the MPAA and RIAA. As a last resort, the MPAA and RIAA have began bringing suits towards the ISPs(Internet Service Providers) that provide the link to the information that copyright infringers download. This practice has achieved mixed results. As is the specific case in Australia, the High Court dismissed the case brought by MPAA and RIAA representatives that would have required ISPs to suspend the accounts of known copyright infringers. Although the MPAA and RIAA have a point with regards to the level of copyright infringement that their interests see violated on a daily basis, the fact of the matter is that these organizations are pursuing a somewhat minor problem with an heavy handed and categorical approach that has severe effects on the way that everyone uses media and data. As a community, file sharers (copyright infringers) vehemently defend their right to own, acquire, distribute, and dis seminate any and all forms of media and information. To this group it is seen a right of free and open societies to remove all constraints to the free flow of information. However, on the flip side, copyright holders and those that have labored to create intellectual property are interested in protecting it from threats to its overall profitability. As such, a prime threat to profitability of intellectual copyrighted information is illegal file sharing. These two groups are increasing intractable in their support and defense of their respective practices. As such, to better understand the true implications of their respective actions, an empirical analysis must be performed to ascertain the negative attributes that file sharing may or may not have with relation to intellectual material. Although it would appear to seem a very straightforward answer as to whether illegal file sharing has directly affected music and film profits, the answer is anything but (Goel et al, 2010). A study by the University of North Carolina found that an album that was leaked up to a full month ahead of its scheduled release (and vigorously downloaded during this time) would actually experience a slight boost in overall sales (Dewenter et al, 2012). This non-expected result is just the tip of the

Urban Regeneration Environment

Urban Regeneration Environment TO WHAT EXTENT HAS CULTURE-LED REGENERATION AFFECTED THE BUILT ENVIRONMENT Abstract To what extent has Culture-Led Regeneration affected the built environment within the UK? Use examples to put this into a wider context. Since the 1940s the phrase ‘Urban Regeneration has been increasingly used in conjunction with the action of redeveloping land which had, in years prior, been areas of moderate to high density urban land use. The study of this process and the way in which it came about has also increased as the successes of Urban Regeneration throughout the United Kingdom and indeed internationally, continue to prove economically, socially and politically advantageous to any number of parties involved in the development of gentrification over the last 70 years. In addition to looking at how regeneration has affected the built environment, the idea that it has been ‘culture-led poses further aspects and issues but however, less scrutiny has been given to the idea of regeneration being ‘culture-led, this is a continuously growing area which deserves more analysis due to the economic success it has given investors and key stakeholders. It has also worked towards preserving some of Britains architectural heritage for the future, giving certain areas that would otherwise have been in a state of disrepair a new lease of life and additional social benefits. By paying attention to the way in which regeneration has developed during the 20th century to becoming culture-led it will be possible to give an in-depth view of the effects on the existing urban fabric of the United Kingdom, particularly over the last 25 years. There are a number of ways in which cultural regeneration takes place, from local governments wanting to increase investment in the area to them gaining status through cultural events such as the Olympic and Commonwealth games, the World Cup to the European Capital of Culture and prominent buildings such as Stadiums and tourist attractions. All of which will be discussed and then highlighted through case studies including the Albert Docks in Liverpool, the Capital of Culture for 2008 and Salford Quays, Manchester which was involved in the Commonwealth Games 2002. On a wider scale, regeneration has played an important role in the history and demographics of cities around the world including Beijing and Melbourne, commonly cited UK examples include Salford Quays in Manchester and Albert Docks in Liverpool; other UK examples include, Canary Wharf in London and Cardiff in Wales. For the purposes of this study, UK examples will be used to directly answer the question posed, which will then be put in to context through briefly analysing the city of Bilbao and Barcelona in, Spain. Regeneration or gentrification can be a contentious topic due to the variety of complex issues surrounding this topic. This often includes, premium prices charged for the new developments. To the nature of change and impact on the local communities that may have fallen in to decline. The existing infrastructure and community that is impacted on by the process of regeneration can take time to evolve and ultimately impact upon the initiatives proposed, as well as the effects on the local community, the power of which should not be underestimated. In order to balance the argument for regeneration it will be necessary to substantiate these different viewpoints and provide a fair consideration from all stakeholders who would be involved and affected by developments. The impact on the environment caused by regeneration can vary depending on the amount of refurbishing and the variety of materials used in the regeneration programme. The extent to which these are recycled and reused to reduce the amount of waste and energy varies with each development. This field of expertise is large and far-reaching and will be discussed briefly in chapter 4 using case studies to highlight the various aspects. The study will also address physical as well as the environmental impacts of regeneration with past and current projects aiming to improve urban areas, with the aid of culture to deliver change. The environment aspect in particular is becoming increasingly important as the countrys social conscience continues to increase into the future. The paper will then draw together conclusions using arguments both in favour of and also against urban regeneration. It will also draw on why cultural regeneration is initiated and why these areas are finding the effects of cultural regeneration successful. The paper will also touch on areas that may have failed or where areas are finding the task of regenerating the physical but also the social and political aspects challenging. It will also be possible to discuss and argue the extent to which culture-led regeneration has moved away from the initial aims of improving an areas social and economic problems to also encompass the physical and environmental aspects of improving an area. This multi-faceted approach has continued to provide many obstacles for experts within the area but these are challenges that, if overcome, will ensure the longevity and economic well being of the project in question for a long time to come. The degree to which urban regeneration has affected the built environment in the UK is likely to be extensive due to well known case studies and examples, as well as visual evidence being clear in day to day life and also being reported in the media, however extracting the elements of gentrification to date and stating to what level they have been purely culture-led will prove more complicated due to difficulties in finding material that points to an area of culture as being the sole catalyst for the regeneration to begin. The essay proposes to demonstrate why cultural regeneration is successful Chapter 1 History History of regeneration Industrial revolution Early 20th century (1940s) Last 25 years (definition culture led detail) Castleford, Canary Wharf QUOTE The United Kingdom has a long history that has become synonymous with the manufacturing industry, dating back to the British Empire when the UK imported and exported many products from countries around the world. During the earliest phase of the Industrial Revolution the Bridgewater Canal was built in 1761, this halved the price of coal in Manchester due to decreased transport costs and ease of access. This triggered a period of canal building activity between 1760 and 1850, the canals provided the infrastructure by which trade could occur more easily and cheaply and it is along these waterways that many cities were developed, including Manchester, Liverpool, Leeds, Birmingham and London. Many industrial facilities were strategically located close to rivers, canals and estuaries, most notably Manchester and Liverpool being situated just 35 miles apart and joined by the Manchester Ship Canal, the North West became a fundamental destination for cotton and textiles and manufacturing as well as Liverpool becoming a central dock for trade due its global connections. The Industrial Revolution also witnessed a large growth in population, in 1695 the population of Britain was estimated to be 5.5million, by the early part of 1801, just over 100 years later, this had grown to 9.3million and 40 years later again, almost doubled to 15.9million people in 1841. These figures represent a 60% increase in just 40 years. (www.historylearningsite.co.uk) In the North West, Manchester alone experienced a dramatic six-fold increase in its population during this time. The development of cities during this period clearly meant that workers moved to these areas seeking jobs, stability and prosperity. By 1900, 80% of Britains population lived in urban areas, whilst the number of workers employed in the agricultural sector fell from eleven percent to just two percent. (www.statistics.gov.uk). There were various reasons for this to occur, but the main ones being the advances in technology and the closure of many farming and agricultural companies, hence reducing the number of those employed in this sector. This sudden surge in the migration of people from rural to urban areas, initially for jobs in the factories or mills, obviously meant that housing was required in these ‘super-cities, and it was needed quickly. The ever increasingly rich owners of the businesses saw the need to provide cheap housing for their workers, and so the now-famous back to back terraced housing associated with British industrial inner cities were born. The back-to-back terrace was the most popular addition to the city due to it being cheap and easy to construct, as well as durable and serving the purpose that it was required for. However, much of this housing was constructed without proper planning, adequate facilities or infrastructure for clean running water and waste disposal. Areas throughout the United Kingdom fell into a state of squalor and disrepair; serious efforts were made to reverse the ‘slum conditions resulting from the housing crisis over the next 100 years. During 1909, a Town Planning Act was formed, this act was to, ‘forbid the building of any more back-to-back houses, this highlighted the need for builders and designs to meet certain standards. During the First World War the slogan, ‘Homes fit for heroes (Crisp 1998) which accompanied the revised Town Planning Act in 1919. This Act focused on implementing improvements to inner city slums on general housing conditions, in order to create space for new housing many of the workers were persuaded to move out to the suburbs which were ‘greener and ‘cleaner this coincided with the decline of the industrial revolution and again agriculture levels increased. Once many of the inner city areas had been abandoned, a prompt decision was taken to destroy many of the workers houses due to the overcrowded and poor conditions of them. During the post war-era employment in the city grew more slowly than in towns and rural areas, employment began to decrease in the 1960s and the decline spread to almost all cities in the 1970s. As the worlds first industrial economy virtually collapsed within a ten year period between 1970 and 1980, 55% of jobs were lost in cities during the recession. (Turok Edge) The former industrial cities of Newcastle, Glasgow, Liverpool and Manchester were left lifeless and devoid of jobs, whilst towns and rural areas saw a steady increase in the number of opportunities. The inner cities were left with polluted by-products from the factories whilst the movement of jobs and people to the country was actively encouraged with the aim of reducing over-crowding, in order to clean up the cities and plan orderly settlements for the future. This led to further social and economic problems such as crime and relative poverty as many areas sank in to depression. During the 1980s, Manchester and Liverpool along with the other industrial areas of Birmingham and Newcastle had lost their influential status, mills, warehouses and docks which had made the cities so successful lay abandoned and increasingly vandalised, whilst the river and canal networks lay polluted. The beginning of the ‘Information Age during the 1990s saw a sharp transition from primary manufacturing industries to a knowledge based, service industry. This was seen as an important driver for change, despite the ability for new industries and businesses to locate in rural areas, through the use of the digital medium of the Internet. However, financial services and the retail industry have increasingly relocated business to city centres once again, creating flagship stores that drew service sector workers back into the city centre in turn creating the need for additional services in the city. The end of the 20th century saw the start of a renaissance in the development of new and improved venues for cultural activity, from arts and media centres, theatres, museums and galleries, to less formal roles such as public art works and urban designs in the public domain. Many towns and cities were seen to be re-investing in the rich cultural heritage of the past, and complementing this with contemporary art projects and exhibitions. It was during this time that work within the creative industries was recognised as bringing a viable way of sustaining a business enterprise around the arts and crafts, later joined by digital media based work. Chapter 2 Culture-Led Models Major events 3 models e.g. Olympic games (London , Commonwealth, Capital of Culture, World Cup, Stadiums International context/differences Bilbao (Capital of Culture), Barcelona (Olympics) It has not only been traditional and historic cultural capitals or world cities, that have looked to install this new form of cultural energy into their urban centres, those seeking to transform their image, established industrial cities as in the case of Bilbao and Glasgow. These cities are undergoing re-imaging, through new and upgraded cultural facilities to try and appeal as cosmopolitan destinations for the first time. Towns and cities such as these, will undoubtedly be greatly affected through culture, not only on the built environment, but also in their social and economic development. The role culture can play in attempting to regenerate an area can be expressed through three different models of regeneration; cited in a report by the Department of Culture, Media and Sports, on the contribution of culture within regeneration in the United Kingdom. The three models include; Culture-led Regeneration Culture Regeneration Culture Regeneration The models which have been identified show where cultural activity can be incorporated, or incorporates itself into a regeneration process. The different models developed include defining culture-led regeneration, cultural regeneration as well as culture and regeneration. Although sounding similar, the models represent and explain three varied approaches to regeneration. Culture-led Regeneration often involves the use of physical and environmental improvements and more often results in the creation of new cultural facilities. This can be through the construction of new buildings, or the reuse of existing structures, examples of which might include Peckham Library, the TATE modern in Southwark, or the Sage music centre and BALTIC centre for contemporary art in Gateshead. Due to the nature of these highly visible projects, both in the public domain and through marketing and advertising, there can be a misinterpretation that some cultural facilities are solely responsible for the regeneration of an area, when in fact they may be a less significant element in a wider, longer term programme. (Evans 2005). This can be identified particularly where â€Å"flagship† projects are concerned. Bilbao is one example where the external image of the city has been dominated by a single building; the Guggenheim. In this case, far less attention has been given to the preparation of infrastructure, such as improvements to roads and metro systems as well as the improvements to housing, with new residential developments, with the redevelopment of existing cultural facilities that may also have contributed to the regeneration of the city. Castleford, in West Yorkshire, has a population of around 38,000. The restructuring of the mining industry in 1997 meant that the number of employees had fallen to under six hundred. The closure of the mines, and other redundancies has led to unusually high levels of unemployment, poor health and low education achievements. The residents are unusually committed to improving the quality life, The Castleford Project is a programme of improvements supported by a collaboration between Wakefield, key regeneration agencies and the community; to improve the town centre, health care, bring safety within the neighbourhoods and local communities and give opportunities to the younger demographic.. The successful approach to the Castleford project shows that culture-led can support regeneration of the former West Yorkshire mining town. Just a few years prior many felt that towns on the outskirts of Yorkshire such as Castleford were in terminal decline following pit and factory closures that put thousands out of work. A strong community spirit led the changes in the area which saw the development of a visionary 25 year urban renaissance programme, this large scale project covered Castleford and four other local towns. The Castleford project has been unique in the sense that it was designed to empower local people to improve their area and develop their own vision and identity for the future. It involved a partnership between the council, the local community, and Channel 4 television which invested one hundred thousand pounds, as well as regional and national organisations; as a result local people have a sense of pride and care over their community. The initial catalyst for the regeneration of Castleford was the development of the Xscape leisure and shopping complex, this boasts the largest indoor ski slope in Europe, it is said to attract more visitors than anywhere else in Yorkshire, which has also led to the creation of many jobs, more than previously available when the pit was in existence. Considerable investment is being put into the area with one single firm staking  £55m. There is good quality house building, a new hotel, supermarket and plans for a heritage centre. By being rooted in the community and having the local peoples full support this regeneration programme has proved a success, if a project such as this is not deeply rooted in the community then it is not guaranteed to be successful or sustainable. Barcelona is a true example of Cultural Regeneration, where a Cultural City, was a successful host of the Olympic Games in 1992. Barcelona took the initiative with the early approach to urban design and culture planning. The design of creative quarters which span between the old city and the Olympic village site, this often meant refurbishing and reviving derelict industrial areas. This form of Urbanism in Barcelona has been characterised by the forming of cultural and public squares linked by avenues and promenades that promote the form of culture. A major feature of Barcelonas regeneration programme involved the expansion of the city centre to encompass the former industrial areas situated on the citys periphery. This allowed the redevelopment and expansion of the commercial sector along the waterfront. In 1999 the RIBA presented its Royal Gold Medal to Barcelona, the first time a city has received the award. It was given the award for its dramatic and successful transformation whi ch is now widely accepted as a model for cultural regeneration on an international scale. Barcelona proved itself through the successful bid and hosting of the 1992 Olympic Games; other examples of this cultural regeneration model include the European Capital of Culture programmes (ECOC), the international Expositions (EXPO) along with the annual celebrations such as the Edinburgh festival. Host cities have used these international events to increase their cultural profile and in turn these events to help initiate a long term regeneration programme. Glasgow became the first city to become European Capital of Culture in 1990 having had more than three years to plan for the event. This award was seen as an important opportunity as a catalyst for urban regeneration through the form of culture; Glasgows legacy as the first city with ECOC status 16 years ago has sustained this development; similar effects to Barcelona which has been recognised as a success internationally. Seville (EXPO 92), Lisbon (ECOC 94 EXPO 98) and Rotterdam (ECOC 01) are cases where large-scale regeneration programmes have been combined with these cultural events. Liverpool has been nominated as ECOC in 2008 and has chosen to build up to this event by hosting themed years. Liverpool was a major participant in the national celebrations of Sea Britain, with special relevance to 2005, The Year of the Sea. Hosting the start and finish of the 2005-06 2007-08 Round the World Clipper Race. 2008 the year of the Capital of Culture will see Liverpool hosting major events highlighting different aspects of the citys unique culture including The Tall Ships Race which has a significant connection with the cities maritime heritage. One event can have wider and far lasting cultural benefits, whilst attracting further investment and increased visitor numbers. Liverpool suffered a vast industrial decline leaving large areas of Brownfield sites derelict which caused economic and social problems. The ECOC will be a vital aid in reshaping and reforming Liverpool to revive the city back to its former successful status, with the regeneration of its famous waterfront known as the Albert Docks. In the third model, Culture and Regeneration, cultural activities are not fully integrated at either the development or planning stages. This is primarily due to the responsibilities for cultural provision and regeneration being often handled separately, within different departments. This means that any provisions for leisure or culture are likely to be small and implemented after any physical regeneration has taken place, as normally the primary focus was to develop housing and commercial space, the main and sure-fire reasons for bringing money in to an area. This model suggests that in terms of physical and environmental regeneration, the visible signs of any cultural activity or improvements may be small, but this does not mean that cultural activity is absent. This indicates that the cultural element has not been used to promote the regeneration programme. This type of regeneration has distinct connections with community groups, local groups and councils which may not exist in la rger flagship programmes, These three models Culture-led Regeneration, Cultural Regeneration and Culture Regeneration, highlight the different scale of regeneration projects and the level of cultural activities which can differ greatly, from whole â€Å"cultural cities† to redeveloped waterfronts, to community orientated public art programmes. The nature of the culture element in each model may vary, it is clear that culture can contribute to the regeneration programmes whilst also interacting with the physical, social and economic aspects that help to revive areas. The physical and environmental improvements, delivered within a cultural context are the visible signs of progression that ultimately promote the success and image of the city. Chapter 3- Case Studies Case Study 1 Salford Quays Case Study 2 Albert Docks Case Studies Albert Docks The Albert Docks is situated on the waters of the Mersey. The former docks comprises from five blocks of five storey warehouses, which provided 1.25 million square foot of storage space, surrounding by a quadrangle of water. Traditionally, the port had relied on privately owned warehousing in the town to store cargo from the dock. Since the decline in the city between 1970 to 1980, Liverpool has experienced more urban regeneration than virtually any other city in the UK. Since 1971 the city had to respond to a reduction in its population of about a quarter and a loss of more than half of its manufacturing industry. Over this period Liverpool has experimented in a variety in Urban regeneration schemes. The first government response to the emerging â€Å"inner city problem† came in 1968 with the launch of the Urban Programme small amounts of short term funding to support local community development projects in the inner city. Liverpool was amongst the first to benefit from 50 schemes supported by the programme including nursery, class, sports and community facilities. In 1969 the Home Office established a series of Community Development Projects (CDPs) including the Vauxhall CDP in addition to supporting a number of local projects, community education programmes, community centres etc. Researchers on the project concluded that the areas problems had structural roots and resulted from external economic change and restructuring (Topping and Smith 1977) In 1979, the new government established Urban Development Cooperation (including the Merseyside Development Corporation) central government agencies with the power and resources to reclaim large amounts of urban dereliction and to return them to beneficial economic use. Other areas of derelict land developers were offered more relaxed planning permissions and tax breaks. Through the 1980s British regeneration policy put a lot of emphasis on supporting local economic development by increasing the supply of land and buildings in inner cities. The first response of the government was to introduce City Challenge; a programme that allowed local authorities to lead local partnerships in bidding for central government money to support local regeneration projects, Liverpool was one of the first successful cities receiving 37.5million in the first round of bidding. By the 1980s Liverpools central area was in decline, few people lived in the City Centre, office and Commercial employment was falling and shopping centres were losing trade. The start of the programme to transform the waterfront commenced in 1986 the project saw the conversion of the existing warehouses into a complex of retail, restaurants, cafe, and a series of office units and business headquarters. Also there are a number of unique visitor attractions;- Tate Liverpool, the Beatles Story, Merseyside Maritime Museum, the International Slavery Museum, Liverpool Ghost Tours, and The Yellow Duckmarine. This development includes a number of luxury apartment, hotels and a state of the art conference / exhibition centre. The importance of the Albert docks to Liverpool is vast as it continues to attract visitors and has helped to re brand Liverpool from a declining and poor city. This in turn has led to the millions of pounds of investment reshaping the heart of the city centre with the development of Paradise Street. In the new millennium there are new challenges for planning and regeneration schemes in response to changes in social trends (cultural and political) with an increase in environmental issues, economic changes and associated with globalisation and the drive for developments to be more sustainable. However Liverpool has recognised the value of culture to aid in transforming a failing city, with the help of this development it will ignite many other opportunities for the city. Case Study Salford Quays Located in the former Docks area of Manchester and Salford, recently labelled as Salford Quays, The Lowry Centre is widely recognised as being key in the regeneration of Salford, Manchester and adding to the improvement of the North West as a region. As a national landmark in the Millennium Project for â€Å"The Arts† this comprises of galleries, theatres, bars, shops and restaurants. The Lowry Centre opened in April 2000 and has since been credited, along with its associated projects, with the creation of 6,500 jobs in the local economy. It is predicted that 11,000 new jobs will arise as a result of the regeneration of the Quays as a whole [Goodey 2000]. These associated cultural projects include The Designer Outlet shopping centre, the Imperial War Museum North (IWMN) and the latest development of the Mediacity:uk which will house the BBC; it also includes other leisure orientated facilities such as a multi screen cinema complex and a water sports centre. Although a culture-led scheme, the Lowry project was conceived as the final part of the regeneration of Salford Quays, a process that began in the mid 1980s, following the purchase of the Docks from the Manchester Ship Canal Company by Salford City Council in 1983. A development plan was prepared, which sought to â€Å"create a new quarter of the city which has a unique character derived from the way in which all parts of the development are related to water; and where people would be encouraged to work, live and play in a high quality environment† [Salford City Council, 1985]. However, despite the great potential that existed in the development of the waterfront, the site was not ideally located in terms of attracting residents, businesses or visitors; â€Å"The Docks were three kilometres from the city centre, enclosed by walls and filled with polluted water† [Struthers 2003]. At that time there was very little infrastructure existing prior to the plan. The adjacent Trafford Park Industrial Estate, was littered with derelict warehouses that had little access to the road network and no public transport provisions. Consequently, a reclamation programme was directed at three vital aspects of the site; water, roads and services, in addition to public access and landscaping. Following concerns that the site may be developed purely for housing and offices, a development strategy review was prepared and published in 1988 and set the context for future proposals with an emphasis on a mixture of uses and their relationship to the water, providing opportunities for leisure and culture based activities [Salford City Council, 1988]. This reflected the idea that both physical and environmental improvements had to be made in order to fully exploit the potential of Salford Quays. It took five years to close the main water basin which allowed the water itself to be treated and cleaned whilst the surrounding areas were cleared ready for the private sector development that was to follow. The access roads were developed to link the Quays internally, this initially meant the improvement of bridges, paths and walkways. There were also connections made to the major road networks into Manchester and beyond. This was all carried out in conjunction with landscaping the area and installing lighting and street furniture before any major building work could be carried out. The success of the Lowry Centre was entirely dependent on the infrastructure that was laid before it, in order to carry the number of visitors, workers and residents that would be required for it to be a success. The presence of the Lowry itself was a main drawing point for the Imperial War Museum which is now located directly opposite and is linked by the Lowry pedestrian bridge. The Imperial War Museum, a major tourist attraction in its own right was opened in 2002 and was designed by renowned architect, Daniel Libeskind, the imposing design aimed to depict the â€Å"world as a globe, shattered by war and mans self-destruction† [Libeskind, 2001]. Along with Old Trafford, the Imperial War Museum and the Lowry signify the cultural landmarks known as The Quays. The decision to extend Manchesters tram link to the Quays from Manchester City Centre as well as Bury in the north and Altrincham in the south of the city meant that the Quays was now open to a greater number of visitors, commuters and also residents. Chapter 4- Regeneration Sustainable regeneration Environmental effects of regeneration Physical regeneration Arguments against Regeneration social and environmental (rich people/poor areas and the infrastructure) Environmental / Physical effects The appearance and environment of towns and cities are clear representations of their history as well as indicators of their present ability to provide a quality of life to residents and business owners or workers. The built environment has always performed a wide range of functions, the main theme being initially shelter, social enablers and also trade. All of this f

Blaise Pascal :: essays research papers fc

The French mathematician, theologian, physicist and man-of-letters, Blaise Pascal is a mathematician who has a reputation that rests more on what he might have done rather than what he might have actually done. Pascal has devoted a considerable amount of his life towards the devotion of religious exercise. Blaise Pascal was born in Clermont-Ferrand, Auvergne. Which is now known as Clermont-Ferrand, on June 19, 1623. And he died in Paris on Aug. 19, 1662. Pascal was the son of the president of the Court of Exchequer. After Pascal's mother died in 1630 his father who also had a scientific reputation moved to Paris in 1631 to pursue his own scientific studies, and also to continue his children’s education. Pascal had displayed an exceptional amount of academic ability therefore he was kept at home to ensure his academic stability. Pascal had a natural desire for the science of constructing figures and determining the proportions between their different parts. He soon discovered that the sum of the angles of a triangle is equal to two right angles. By the age of fourteen he was admitted to the weekly meetings of Roberval, Mersenne, Mydorge, and other French geometricians; from which, ultimately, the French Academy sprung. At sixteen Pascal wrote an essay on conic sections. Blaise Pascal with Pierre de Fermat, they invented the calculus of probabilities, which laid foundation for Gottfried Wilhelm von Leibniz's calculus. In 1647 Pascal invented calculating machine, which made him one of the fathers of the Computer Age. Later he developed the barometer, the hydraulic press, and the syringe. In 1653 he had to administer his father's estate. Pascal's other important scientific contributions include the derivation of Pascal's law or principle, which states that fluids transmit pressures equally in all directions, and his investigations in the geometry of infinitesimals. Around this time he invented the arithmetical triangle, and in conjunction with Fermat created the calculus of probabilities. Pascal died at the age of 39 in intense pain after a malignant growth in his stomach spread to the brain. His most famous work is the Pensees (Thoughts); a set of deeply personal meditations in somewhat fragmented form on human suffering and faith in God. "Pascal's wager" expresses the conviction that belief in God is rational: if God does not exist, one stands to lose nothing by believing in him anyway, while if he does exist, one stands to lose everything by not believing.

On Becoming a Leader Essay

The book I chose to review is â€Å"On Becoming a Leader† by Warren Bennis. At the crux of this book is a search to understand how leaders are made. Throughout the book, the author tries to prove through polls and observations, that leaders are not born but are made through a combination of nature and nurture. Leaders who excel tend to have similar characteristics which have been developed by a series of experiences in their lives (these include embracing mistakes, taking risks and learning from adversity). Another idea discussed in the book is that of the role of education in making leaders. Bennis notes a number of qualities and abilities that are common amongst the leaders he interacts with. Some of those are relating well to others, trusting others and in turn being trustworthy, the ability to motivate people and to not give up, inspiration and competence in the job. However, he claims that a major problem in business & leadership is the â€Å"societal disease of our time† (as said by Norman Lear to him) – short term thinking. He highlights throughout the book that this form of thinking is not beneficial to organizations and that a good leader should be able to look further and not give the short term too much importance. At one point he claims that short term thinking is what kills one of the most important attributes a leader must have – innovation. The author mentions that leaders are important to an organization since they are of paramount importance to the operational performance, stability and integrity of the organization. To this end, Warren Bennis presents in a systematic manner various attributes that are required of a leader to be able to perform well. The first attribute discussed is the ability to â€Å"Master the context†. In this chapter, the author discusses the fact that a leader must be able to understand the reasons and outcomes of different situations. Only once he has managed this, will he be able to act in the best possible way for his organization. This is in line with what we have learned throughout our course regarding improving one’s self-awareness as well as the 4 perspectives of organizational effectiveness. A leader must be able to understand the context of work and respond by being aware that he needs to look after different perspectives of people and systems related to the organization. The second thing discussed is â€Å"understanding the basics†, which is quite similar to mastering the context. In this, Warren Bennis explains that leaders need to understand the underlying concepts at work before making decisions. He lists a series of attributes that can be found in most leaders including self-knowledge, passion, vision and trust. He argues that most of the leaders are not born with these attributes but life experiences and a desire to lead people enables them to develop a good understanding of this. Their drive to acquire and learn are much higher than on average and they actively pursue these drives while taking risks and placing lesser importance on their drive for safety. In this he also discusses the difference between managing people and leading them. We have gone through various topics related directly to this effect in class. According to me, one of the strongest drives an individual has is the drive to safety. An individual would be much more comfortable if they can trust their leader. The ability to understand the thought process of their leader and their belief/trust in him helps shore up their drive for safety. Across cultures, people tend to avoid uncertainty and if a leader is able to, through knowledge and an understanding, provide people with an image of consistency; it goes a long way in settling people and reducing stress. The third lesson is â€Å"knowing yourself†. Warren Bennis argues that in order to lead others, one must fully understand themselves. To be able to trust your decisions/inner feelings is extremely important for leading people and making correct choices. The author goes on to highlight 4 lessons that enable an individual to understand themselves. They are â€Å"you are your own best teacher†, â€Å"accept responsibility†, â€Å"you can learn anything you want to learn† and â€Å"true understanding comes from reflecting on your own experience†. All these lessons are at the core of organizational behavior as we have learnt. These 4 lessons can apply even to organizations as well as being useful for individuals. Self-concept is an important part of an individual’s make up and to feed that we must be able to reflect on our past experiences to learn from them. Social learning, learning through reinforcement and learning through experience are discussed as important factors of learning in organizations in our course. I believe this same applies to individuals as they are able to develop their social identity and self-concept through these lessons. Next, the author discusses â€Å"Knowing the world†. This takes a similar route to the previous subject of knowing yourself, while developing a greater scope to the understanding. Cultural understanding is an extremely important attribute in a leader. In an increasingly diverse workforce coupled with increasing globalization, a leader must have the ability to and desire to understand various cultures and behaviors. Values and behavior are very different for different cultures, and a lot of organizations have failed due to the incompatible understanding of their leaders. The HP-Compaq merger was a major case where while it was beneficial financially and operationally for the companies to merge, their leaders were not able to fully adapt the two company’s cultures properly, causing the merger to have not performed anywhere near expectations. One point that I found particularly interesting and felt that was very important was the need for a person to find a mentor who can help them enhance and shape their cultural understanding. The social learning aspect discusses similar concepts, where a person learns from someone whom they aspire to be. Being able to find a mentor who has an in depth understanding of cultures, or at least has a desire to learn cultural differences can help an individual become a more complete leader. The next thought discussed by the author is â€Å"Operating on instinct†. This discussion focuses on the fact that a good leader should be able to believe in himself and should be able to take decisions from his gut feeling. More often than not a leader and even individuals will have to make decisions without knowing all the details they would like to know. The presence of incomplete information should not make the leader less likely to make a decision. A good leader will have developed enough self-awareness and through self-evaluation and verification be able to rely on his instinct to make the right choice. This enables the leader to be able to quickly and decisively contemplate and decide issues. The next discussion is based on †Deploying yourself†. In this the author talks about the fact that a successful leader is a person who is willing to take on challenges even though he might have failed in earlier challenges. The drive to learn and acquire are, I feel, major contributors to this topic. A good leader will be able to reflect on his past experiences and learn from them; and this gives them confidence to continually drive for newer challenges and tasks. Another topic discussed is â€Å"Moving through chaos†. In this chapter, Warren Bennis describes the difference between all individuals and leaders. He points out that everyone faces problems and issues in their career, but that leaders analyze these problems and tend to learn from these. Conflict resolution can take many forms through third-party conflict resolution or negotiation. Leaders reflect on their conflicts and develop an understanding of how to overcome those challenges. â€Å"Getting people on your side† is the next topic covered. The main point of this discussion, and a very important learning for me personally, is the ability of the leader to be trustworthy. To be trusted, a leader must display consistency in his actions, congruity – meaning what they say, reliable to their followers and have a strong integrity. This once again gravitates towards the drive for safety individuals have. To be lead by someone, an individual must trust them to act on their behalf and be able to predict to a certain extent what their leaders will do for them. The concept of romanticizing leadership is down to this ability of leaders. If a leader is able to bring their employees/followers on their side, the leader’s ability to work through tasks and challenges is increased. Even mistakes made by them will be viewed in a positive light, enabling them to continue taking risks. â€Å"Organizations can help – or hinder† is the next topic that is discussed. This focuses on the fact different organizations will have different expectations from their leaders. The culture at an organization will dictate how well a leader will be able to lead the organization. A good leader will be able to understand the context of the organization and will try to devise strategies he can implement to make changes. The author also mentions that the leader should try and develop organizational characteristics that are in line with their culture. This also transposes into the last discussion of â€Å"Forging the future†. The impediments faced by leaders in an organization can be very hard, but a good leader will be able to develop his own culture and characteristics to move the organization forward. One major issue I had with this book was that while the author continually refers to short term thinking as a â€Å"societal disease†; he himself to a certain extent subscribes to that notion. His interaction with the leaders seems comparatively very short term. Throughout the statements made in the book, it felt that the interviews were more about successful past rather than forward looking. I understand that one of the major attributes is to learn from experiences but the I’d prefer if the author also focused equally on the leader’s thoughts about the future. Secondly I felt that there was quite a bit of political commentary in the book. I knew that it was going to have some after reading the reviews while selecting the book, but the political leadership aspect seemed to be a comparatively one sided. I feel that the author could have refrained from making this political and focused instead on the corporate leadership aspect.

Element Rubidium

Origin of name: from the Latin word â€Å"rubidius† meaning â€Å"dark red† or â€Å"deepest red†. Atomic Number:  37 Symbol:  Rb Atomic Weight:  85. 4678 Say what? Rubidium is pronounced as  roo-BID-ee-em. Discovery:  R. Bunsen, G. Kirchoff 1861 (Germany), discovered rubidium in the mineral petalite via its dark red spectral lines. Element Classification:  Alkali Metal Density (g/cc):  1. 532 Melting Point (K):  312. 2 Boiling Point (K):  961 Appearance:  soft, silvery-white, highly reactive metal Atomic Radius (pm):  248 Atomic Volume (cc/mol):  55. 9 Covalent Radius (pm):  216 Ionic Radius:  147 (+1e) Specific Heat (@20 °C J/g mol):  0. 360 Fusion Heat (kJ/mol):  2. 0 Evaporation Heat (kJ/mol):  75. 8 Pauling Negativity Number:  0. 82 First Ionizing Energy (kJ/mol):  402. 8 Oxidation States:  +1 Lattice Structure:  Body-Centered Cubic Lattice Constant (A):  5. 590 CAS Registry Number:  7440-17-7 Properties:  Ru bidium may be liquid at room temperature. It ignites spontaneously in air and reacts violently in water, setting fire to the liberated hydrogen. Thus, rubidium must be stored under dry mineral oil, in a vacuum, or in an inert atmosphere. It is a soft, silvery-white metallic element of the alkali group. Rubidium forms amalgams with mercury and alloys with gold, sodium, potassium, and cesium.Rubidium glows red-violet in a flame test. Rubidium Trivia: †¢ Rubidium melts just a little above body temperature. †¢ Rubidium was discovered using spectroscopy. When Bunsen and Kirchoff examined their sample of petalite, they found two red spectral lines deep into the red part of the spectrum. They named their new element rubidium after the Latin word  rubidus  meaning ‘deepest red'. †¢ Rubidium is the second most electropositive element. †¢ Rubidium can be used to give fireworks a red-violet color. †¢ Rubidium is the 23rd  most abundant element in the Earth' s crust. Rubidium chloride is used in biochemistry as a biomarker to track where potassium is taken up by living organisms. †¢ The hyper-fine electron structure of Rubidium-87 is used in some atomic clocks to maintain accuracy. †¢ The isotope Ru-87 was used by Eric Cornell, Wolfgang Ketterle, and Carl Wiemen to produce a Bose-Einstein condensate. This earned them the 2001 Nobel Prize in Physics. Reference: †¢ http://chemistry. about. com/od/elementfacts/a/rubidium. htm †¢ http://www. lenntech. com/periodic/elements/rb. htm †¢ http://www. webelements. com/rubidium/ †¢ http://education. jlab. org/itselemental/ele037. html [pic]

Role of Bank Capital Essays

Role of Bank Capital Essays Role of Bank Capital Essay Role of Bank Capital Essay Introduction The main aim of this report is to identify the key roles played by bank capital in the banking business. This report briefly outlines the main functions of bank capital and takes a brief look at the benefits of bank capital to the bank and the banking industry. It is hoped that from reading this paper a general understanding of the roles of bank capital in the banking business can be gained. Bank Capital A banks capital also known as equity is the margin by which creditors are covered if the banks assets were liquidated. A bank must hold enough capital to protect lenders and depositors from losses and also allow the bank to meet its customer requirements. Banks must maintain capital levels equal with the amount of risks assumed and hold enough to weather severe and considerably long financial storms. Roles of Bank Capital Banks are susceptible to many forms of systematic risk which at times can evolve into industrial crisis. The risks they face include credit risk, market risk, business risk and interest rate risk to name a few. And bank capital plays an essential role in the absorption of losses related to these risks. Credit Risk Credit risk is the risk that an obligator will not make future interest payments or principle repayments when due and is the main risk faced by banks, considering how large global financial markets are and the proportion of transactions that may be at risk. Credit risk tends to vary with the business cycle as initial rapid expansion results in falling spreads, and a decline in credit widening spreads with banks being hit by large loses as the spread widens. Banks are taking on more diverse forms of lending including direct finance, margin lending, over the counter derivatives transactions with the high number of potential defaults in these areas exposing them to large amounts of counterparty risk. There is also credit risk involved with futures brokerage involving intermediaries and the substantial credit risks from settling foreign exchange contracts which are often underestimated. Credit risk also may exist in credit derivatives and asset securitization transactions. To protect themselves banks need to identify the type of credit risk correctly, price it accurately and maintain adequately high amounts of capital in both good times and bad times. Market Risk Capital also protects banks against market risk. This is the risk associated with the movements and volatility in market prices which can cause large swings in bank profitability. Continuous changes in technology and market creativity are resulting in ever changing financial products and market risks making evident a relationship between markets that we had previously thought of as unrelated. These unpredictable changes require banks to maintain strong capital levels especially with the period a bank has to alter its risk profile becoming shorter due to greater competition. Business Risk Capital also provides a cushion against exposures to elements that can impact on the firms’ activities and may result in the bank losing ground relative to its competitors or failing to earn a market rate of return. Bank capital is a crucial aid in relation to operational risk which may result in loss by a bank of its critical business operations due to a disaster such as loss of a communications system which can lead to fraud or processing errors. With the continuing diversification of banking, the growing concentration of the crucial payments, the fast pace of financial innovation and settlements, the importance of operational risk is rising and bank capital becoming more crucial in this area. Liquidity Liquidity is the ability to fund increases in assets and meet obligations as they become due. Banks still play a crucial role as liquidity providers in the global economy especially during market shocks or economic turbulence. Adequate bank capital helps reduces liquidity risk, that is, the risk that many depositors will request withdrawals beyond available funds. Banks have managed the general expected liquidity demands since the beginning of the banking business with occasional mismatches exposing banks to interest rate risk, which is the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it eceives on its loans. Normally this risk can also be managed easily by hedging interest rate changes by the use of derivative instruments. However unanticipated system wide shocks result in a greater demand for liquidity and are far more difficult to deal with. At such times significant liquidity demands emerge from both a banks asset and the liability side. Refinancing short-term debt in the money markets is liabili ty related and off-balance-sheet exposures can unexpectedly come onto the assets side of the balance sheet. Therefore a bank must be prepared when there is a market wide scramble for liquidity and be able to manage funding challenges and unplanned asset expansions simultaneously by having sufficient bank capital. Promote economic growth A strongly capitalized banking sector also is better able to promote innovation, whether in the form of new products, new services or new distribution channels. Banks do not just hold capital to overcome distress, but also because it provides them with financial flexibility. Banks with a strong capital base can take advantage of growth opportunities. A strong banking sector made up of banks with strong capital bases, is better able to supply credit to businesses and fund investment opportunities that promise to encourage growth, create employment and contribute to a stronger economy. On the other hand a weak banking sector with banks unable to function effectively as risk intermediaries inevitably leads to inadequate credit and liquidity in financial markets and to banks that are unable to help boost the productivity of the economy. Clearly this has a grave social impact given the importance of credit and liquidity to the overall economy. Benefits of strong bank capitalization Well capitalized banks will be able to continue with there normal lending practices in the event of an economic shock and will not be forced to reduce their asset base. As well as this they are able to assist weaker banks through the provision of deposit insurance premiums. Sufficient excess capital reserves enable banks to enter into large ventures without having to raise new capital. Banks are not inclined to take on numerous high risk borrowers purely for the potential benefit of high returns as they are not desperately seeking profits to increase their capital base. Excess capital holds the benefit of avoiding high financing costs. An example would be a bank having to pay a high rate of interest on loans from other banks if the banks excess capital reserves are found to be insufficient. With fast-paced technological change predominately in the information systems area well capitalized banks are cushion from the enormous costs of, for example total system upgrades. Finally a banks reputation will suffer if the bank finds it difficult to meet the regulatory body’s capital requirements. Large banks wish to keep their good ratings and therefore have considerable high capital reserves because rating agencies make demands regarding the banks excess capital reserves as a condition for a high rating Conclusion The role of capital is to act as a buffer against future unexpected and even relatively remote losses that a bank may incur and be a source of liquidity. Because banks can both create demand deposits and provide credit they act as shock absorbers during times of turbulence providing safety to risk weary investors and liquidity to borrowers. The dramatic effects of weak banking systems can be seen in both developed and developing economies and the repercussions these have had on financial markets everywhere. Each occasion is a reminder of the need for strongly capitalized financial institutions. References Viney C 2007, McGrath’s Financial Institutions, Instruments and Markets, McGraw- Hill Mehta D, Fung H 2004, International Bank Management, Blackwell Publishing, Oxford, UK Bacon F, Tai S, Shin, Suk H, Garg R 2004, Basics of Financial Management, Copley Publishing Company, Action, MA Berger A N, Herring R J, Szego G P 1995, The role of capital in financial institutions, Journal of Banking and Finance 19, Nos. 3-4. Diamond, Douglas W, Rajan R G 2000, A Theory of Bank Capital, The Journal of Finance, Vol. LV, no. 6

Consumer behavior Essay Example | Topics and Well Written Essays - 4500 words

Consumer behavior - Essay Example value food market there are gaps in areas of research in relation to the specific market size which can be expected and in certain psychographic aspects of the consumer character profile. These will be identified throughout the report. Specific market size cannot accurately be predicted, due to an apparent trend in the United Kingdom for a more socially-acceptable movement toward thrift in the frozen foods sector. This seems to be moving different markets together, thus creating large opportunity for a more mass market focused brand campaign. Before determining an appropriate market size, it would be necessary to understand which specific region of the country could best be supplied logistically. Competitors consist of many multi-national companies with very wide product lines, therefore this is also an indication of high profit potential if Northern Ireland pursues a less domestic approach to sales by expanding beyond the UK. In London alone, with such a large emphasis on thrift mixing markets, the four million adult consumers in this region could serve as a test market for introduction into the consumer market and represent enormous profit opportunity. One notable trend in this market environment is how the different competitors continue to use interesting marketing positioning tactics, through promotion, to create different perceptions with the customers. From an observational research perspective, the quality of the products as well as the food texture does not seem to be a marketing objective in this region. Rather, creating the personal connection between how the product would be viable in the family environment and the consumers’ visual taste sensations in advertisements remains the large focus of marketing in this frozen foods community. Because this will be more of a mass market-focused campaign for the quality dinner foods provided by Northern Ireland Fast Food Company, it will be necessary to fully determine which city and region will be the first

Property Law Asessment Essay Example | Topics and Well Written Essays - 1250 words

Property Law Asessment - Essay Example Private express trust which is governed by the precedent set by the case of Knight vs Knight of 1830. It sets out three certainties which need to be met in order for a trust to be met. These are certainty of matter, object and word. The followings are legal advise that Leo needs to know concerning the clauses in his draft will. 1. Under the law of trusts, for a disposition to be valid, three certainties must be met. Certaintyof matter, objects and words. Certainty of matter is Leos building shares, of intention is when he says that income from his building shares to go to Ben as long as he lives and of object is Ben himself2. This disposition is a fixed trust. In the case of Re Endacott 1959, a fixed trust is identified as the ability to identify the lists of beneficiaries. Here, Ben is a beneficiary therefore this trust is valid. 2. This disposition is a private express trust. In the case involving Knight vs. Knight3, three certainties must be present for a valid trust and Kassim be ing the only beneficiary, this trust is therefore a bare trust. The subject matter and intention of the testator is not clear in this situation since the word reasonable is vague. Leo has not given a precise value of what Kassim needs to earn from his blue chip companies.In the 1965 case of Golays Trust4, the word reasonable was extensively analyzed and it was allowed to stand in the legal principles of defining certainty of subject matter. The intention of Leo under this dispension is unclear and the case of Re Adams and the Kensington Vestry of 18845 analyzes if this disposition is valid. The case used the words in full confidence, and it failed because the words were not sufficientto create a trust. Another case, of Musoori Bank ltd andRaynor of 18826 used the words,In full confidence and the court ruled that words such as that cannot create a valid trust.Under the case Palmer vs. Simmonds 1854, the word bulk was used and it was considered insufficient in writing a will, since th e word itself is vague. Under similar circumstances, the word reasonable is vague and it requires more clarity from Leo. Therefore this trust is void. 3. Ben and Toby are the only beneficiaries of this disposition making this a fixed trust under the certainty of object law. However there is a possibility of Ben dying before making a choice and therefore this disposition is invalid under the principles set out in the Boyce and Boyce 1849 case. Where the testator gave one of his daughter, Maria a choice of taking one of his houses before his other daughter Charlotte. Maria died before choosing any house making the will void. Using this principles of this case, the trust will be void. 4. This is an example of a public express trust. Under the case of Knight vs. Knight, 1830, for a public express trust to be valid, there must be three certainties. Certainty of words, subject matter and objects. Under this case, there is certainty of subjects that are Sonya and Adaeze and certainty of ob jects that is the residuary estate. However, the word bulk is not certain. Under the case Palmer vs Simmonds 18547, the word bulk was found to be vague therefore using the same principles of Palmer and Simmonds, this trust is void. 5. This disposition is a purpose trust and under the law, it will not hold. The 1876 case of Musset vs Bingle 8prevented the erection of monuments for an individual and under the draft will; there are no beneficiaries for the monument. The case Morice vs. Bishop of