The book Common Sense by Thomas Paine Essay Example | Topics and Well Written Essays - 1250 words - 3

The book Common Sense by Thomas Paine - Essay Example The author is completely against the rule of royals, and believed that in the earlier times there were no kings, and, for the very same reason, there was peace and tranquility among men. But this is not applicable in all ages, as once people get civilized, the question comes about authority and power. The able and the fittest among people urge for superiority and have a want and desire to rule the inferior ones. â€Å"Government by kings was first introduced into the world by the Heathens, from whom the children of Israel copied the custom. It was the most prosperous invention the Devil ever set on foot for the promotion of idolatry†(Paine). So Paine intends to point out that once the government got introduced to the human history, there was a scene of suppression of right and values of the laymen. Pain was of the opinion that, a government or monarchy should not aim at ruling a country or society, but should focus on giving opportunity and space to personal development and gr owth and complete happiness and prosperity of public. Actually, he is completely right on this part, as government should be by the people, for the people, and of the people. A full full-fledged republican outlook, wherein all the common men get what they want in the right proportion is the right thing to be done for the welfare of the common men. Paine writes that human being was born with an equal status and only a tyranny, aristocratic rule or dictatorship could destroy the peace, freedom, and serenity of common man.

PART 2 - 2500 word essay - subject PDAS313 - Fundamentals of Staff

PART 2 - 2500 word - subject PDAS313 - Fundamentals of Staff Development - Essay Example Professor Spencer stresses the interdependence of these principles implying that no principle can stand successfully on its own without the help of the others (Riley 2009). This paper will attempt an analysis of the ten-principle package of the aforementioned Spencer Model by first, taking up one by one the ten principles composing it and summarizing these components as Professor Spencer construed and defined them. These components are then scrutinized and analyzed with respect to their significance and importance in staff development vis-à  -vis the organizational set up, keeping in mind that their inclusion in the ten-package model implies necessity of administrative intervention. After the individual analysis of these principles, then entire model is then analyzed in its entirety, with a view to establishing its authority and soundness as a staff development model. Heterogeneity, Accountability and Responsibility, Altruistic Vision. Heterogeneity, according to Spencer, is an inevitable quality of an organisation because of the individuality of the people composing based on the principle that no two persons are alike. Heterogeneity therefore can hamper staff cohesiveness, a positive quality of a good organisation necessary for its productive functioning. There is therefore, a need according to him, to distinguish between characteristics that are given and those which result from â€Å"administrative/managerial stimuli.† The first kind, Spencer says, is natural and therefore does not warrant control but the second kind, demands confrontation as such behavior may run counter to organisational productivity and goals in general (Riley 2009 10-11). On the other hand, the attitudinal principles of accountability and responsibility have something to do with the acceptance of the duties that come with the assumption of a position in an organisation. The difference between the two terms, according to Spencer, is that

Ameloblastoma Case Study

Ameloblastoma Case Study Introduction: Ameloblastoma is the most common odontogenic epithelial tumor of the jaw bones. [REF] It was first described by Churchill in 1881 and defined by Robinson as a tumor that is usually â€Å"unicentric, nonfunctional, intermittent in growth, anatomically benign, and clinically persistent†.[M] Although most ameloblastomas are histologically benign and lack cytological atypia, they are generally considered to be locally aggressive and destructive, exhibiting various rates of recurrence. [K] WHO describes four variants of ameloblastoma, i.e. solid multicystic- follicular, plexiform, desmoplastic and unicystic. [Ref] However, many unusual histological variants have been reported in the past that mimic the conventional ameloblastomas but present with a widely variable histological presentation. Only few cases of such histological variants though have been reported in the literature which has made it difficult to predict the clinical course and biological behaviour of these variants. He re, we report a case of verrucopapillary ameloblastoma which is a very uncommon histopathological variant of ameloblastoma. Case report: An 18 year old male patient reported with a chief complaint of swelling in the right side of the lower jaw near the body of the mandible since 3 months which was visible on extraorally. The swelling was hard in consistency and was not associated with pain, paresthesia or discharge. The loco-regional lymph nodes were not palpable. On intraoral examination, the overlying mucosa showed swelling in the right buccal vestibular region without any signs of ulceration or paresthesia. The teeth in the region showed positive response to stimulus on vitality testing. The panoramic radiograph showed a lytic lesion with well defined margins in the premolar–molar region extending distal to the mandibular right second molar. The orthopantomograph of the patient showed a radiolucent multilocular osteolytic lesion extending from the distal periradicular area of 43 till right posterior body angle region corresponding to mesial crown outline of 48 antero-posteriorly and from the alveolar crest t ill the inferior mandibular cortex supero-inferiorly. The 3D cone beam computed tomography reconstruction showed a lesion measuring 5.9cm x 3.2cm x 2.7cm in size with fine curved and linear bony septae in the centre of the osteolytic area. The lesion was expansile with perforation of the buccal and lingual cortical plates and thinning of the inferior border of the mandible. The histopathological examination of the submitted specimen showed an unencapsulated lesion with mature fibrocellular stroma with proliferating odontogenic islands. The periphery of the tumour showed cystic cavity lined by hyperkeratinizing stratified squamous epithelium of varying thickeness. The lining epithelium was thrown into multiple sharp or blunt and rounded verrucopapillary projections into the cystic lumen plugged by keratin. These projections were supported by thin connective tissue cores. Keratin was seen deposited on the surface in the form of parallel lamella and keratin flakes were also present. An unusual finding seen in our case was the presence of acantholytic cells with areas of focal necrosis on the surfa. The lining epithelium shows basal layer with columnar cells with hyperchromatic nuclei and peripheral palisading with surface keratinization and cellular vacuolization indicative of KCOT like areas. Multiple odontogenic islands with peripheral columnar odontogenic cells with hyperchromatic nuclei were present in the connectice tissue stroma. The suppoting connective tissue stroma showed epithelial islands with acanthomatous changes and microcystic degeneration. Interconnecting strands of odontogenic epithelium resembling the plexiform variant were also present. The connective tissue was densely fibrocellular with numerous dilated and engorged blood vessels. Immunohistochemical staining with Ki-67 antibody showed intense positivity in the basal and supra-basal cells with infrequent positivity in the superficial cells indicative of high proliferative potential of the les ion. Immunohistichemical staining with anti-p53 antibody showed basal and suprabasal positivity of the lining epithelium suggestive of mutation in the tumour suppressor gene. Based on the histopathologic evaluation, a diagnosis of papilliferous keratoameloblastoma was given. The lesion was removed completely with wide excision and the patient has not reported back with any recurrence two after the surgery. Discussion: Ameloblastomas are common odontogenic tumour that show diverse, yet pathognomic histopathological features. However, wide variation has been reported in the past regarding the histopathological presentation of ameloblastoma. Squamous metaplasia has been reported commonly in the acanthomatous variant of ameloblastoma where the central stellate reticulum like areas are replaced by squamoid cells. This keratinization is well documented in some lesions such as odontogenic keratocyst, acanthomatous ameloblastoma, calcifying odontogenic cyst, squamous odontogenic tumor, and squamous odontogenic carcinoma. [G] Keratin formation has also been reported in another variant of ameloblastoma termed keratoameloblastoma, which was first described by Pindborg in 1970. Another variant of keratoameloblastoma, with verrucopapillary projections into the lumen has been reported under the name papilliferous ameloblastoma. Till date, 15 cases have reported in English literature with papilliferous histologi c components in ameloblastoma. [F] The distinction between acanthomatous ameloblastoma with keratin production and keratoameloblastoma is not clear. WHO in 2005 described keratin with pearl formation in ameloblastoma under the histologic variant of acanthomatous ameloblastoma. In 1992 classification of odontogenic tumours by WHO, it was defined as ameloblastoma with extensive keratinization. [G] However, Morgan et al have described ameloblastoma with unequivocal keratinization occurring in the centre of the epithelial follicles at the expense of the stellate reticulum-like areas as a keratoameloblastoma. Norval et al suggested that keratoameloblastoma should be considered a variant of acanthomatous ameloblastoma.[F] However, one criteria to distinguish acanthomatous ameloblastoma form keratoameloblastoma is the presence of keratin in the connective tissue stroma as compared to acanthomatous ameloblastoma which has keratin only in the areas showing sqauamous metaplasia in the centre of odontogenic islands and follicle. [H, cross ref 7] The present case in a male patient in the right mandibular body region is similar in presentation as compared to previously reported cases except the age of the patient which is comparatively younger (second decade) as compared to mean age of presentation of KA with papilliferous proliferation which occur at a relatively older age (mean age of occurrence in sixth decade). The right side of the mandible is commonly involved as compared to the left (2:1) with most cases reported in the posterior body-ramus region. [H] Our case differs from the previous cases in showing multiple papilliferous projections with acantholytic cells with necrotic and hemorrhagic material in the lumen and dilated, congested blood vessels. The lesion also showed multiple solid islands of odontogenic epithelium with hyperchromatic nuclei in the connective tissue stroma.[H] Whitt et al have described 4 variants of ameloblastoma showing keratin formation (Table 1). Corio et al.20 have described a keratinizing ameloblastic carcinoma showing the typical histologic features of malignancy in their series of ameloblastic carcinomas, which included pleomorphism, increased nuclear/cytoplastic ratio, nuclear hyperchromatism, increased numbers of mitotic figures, abnormal mitotic figures, and necrosis. Our case fulfils the criteria of papilliferous type of KA. The present case exhibited an elevated level of mitotic activity, altered p53 profile and proliferation index (Ki-67). It can be inferred that the lesion is comparatively more aggressive locally as compared to conventional ameloblastoma, and should be excised extensively to avoid local recurrence. [F] However, it is still unclear how the production of keratin in histopathologic variants of ameloblastoma affects the biological behaviour and prognosis of such lesions. The probable reason could be attributed to less number of reported cases with follow up of such variant to comment definitively on its behaviour. [G] Conclusion: Papilliferous keratoameloblastomas refers to a variant of ameloblastoma that is rarely reported and its biological behaviour is poorly understood. The present case shows higher proliferative activity in the basal and suprabasal cells of the tumour providing an indication of its local aggressiveness as compared to the conventional ameloblastomas. Presently, such lesions are treated in a manner similar to conventional ameloblastomas, though it lacks any authoritative evidence. Report of more such cases with longer follow up duration and molecular profiling is required in the future to completely understand the spectrum of clinical and histological features, biological behaviour and prognosis of such cases. Table 1 : Types Of Keratoameloblastoma Based On Histopathological Features(Whitt et al) Histological type Features Papilliferous histology Odontogenic epithelium is in papillary projections into the cystic spaces Simple histology Epithelial follicles filled with parakeratin or orthokeratin and lined by ameloblast like cells with reversal of polarity Simple histology with odontogenic keratocyst (OKC)-like features Features of conventional odontogenic keratocyst in addition to simple type Complex histology Epithelial follicles packed with parakeratin or orthokeratin, extrusion of keratin masses into connective tissue stroma in the form of pacinian like stacks with or without foreign body reaction; also there may be hard tissue formation resembling cementum and woven bone

16 PF Personality Test Essay -- science

16 PF Personality Test Resolving the conflict of Reliability vs. Accuracy in the 16 PF test Introduction: For psychologists, one of the more popular theories espoused is the trait approach to personality, or â€Å"the idea that people have consistent personality characteristics that can be measured and studied† (Kalat, 2002, 512). However there are several problems that arise. First, there are significant cross-cultural differences, so one set of personality traits for one culture may differ considerably for another. The next problem would concern the creation of a test that could accurately measure these traits. While psychologists have for the most part addressed these issues, I will focus on the latter of the two. There has been a number of multiple personality tests put to use such as the Minnesota Multiphasic Personality Inventory (MMPI), the Thematic Apperception Test (TAT), the Rorschach Inkblots and others. In our class we were instructed to take the 16 PF personality test in which we would judge for ourselves how accurate the test was based on our own personal experiences . In judging the usefulness of this test we took into consideration its reliability and validity. For a test to be reliable it must be able to accurately reflect consistent results for various people that can be agreed upon by researchers and therapists alike. Reliability in turn relates to validity. To be valid a test must be dependable producing data that can be used to detect a mental illness or otherwise certain personality dimensions within psychologically healthy individuals. Furthermore personality tests must be standardized, having data capable of being â€Å"interpreted in a prescribed fashion† (Kalat, 2002, 528). These standards are based on a comparison of a large number of people who have taken the test, one group with a particular disorder and another group who consist of the normal range. These allow researchers to identify people who score within a certain range to be more typical of a particular disorder. While the 16 PF personality test meets these criteria, whether or not the test is accurate remains to be explored. Within the next couple of pages I will describe the results of the test and discuss whether or not the data is an accurate reflection of my own personality. Discussion and Interpretation of Scores: While the 16 PF personality test measured the ... ...y until asked to. Graph of all 18 Factors: Conclusion: The test overall did a fairly accurate job in measuring the various factors of my personality. I only disagreed with two of the ten factors, which I merely saw as an overt measurement. The test appeared to be valid for the most part pertaining to my case, and since validity correlates with reliability, its reliability appears to be relatively strong. However this is merely an opinion based on my interpretation of my own personality. It could be equally likely that other people may get many scores in which they totally disagree on. Since this test was written 20 years ago the question of re-standardization also comes into play. As for cross-cultural differences discussed in the introduction, to me it is unclear whether or not the questions are common to all cultures and backgrounds, yet among English speakers the questions seemed well structured. While no test is perfect, the 16 PF does seem to have relatively high reliability and validity, making it ideal in measuring personality tra its. References: Kalat, J. (2002). Introduction to Psychology (Sixth Edition). Pacific Groove, CA: Wadsworth- Thomson Learning. 16 PF Personality Test Essay -- science 16 PF Personality Test Resolving the conflict of Reliability vs. Accuracy in the 16 PF test Introduction: For psychologists, one of the more popular theories espoused is the trait approach to personality, or â€Å"the idea that people have consistent personality characteristics that can be measured and studied† (Kalat, 2002, 512). However there are several problems that arise. First, there are significant cross-cultural differences, so one set of personality traits for one culture may differ considerably for another. The next problem would concern the creation of a test that could accurately measure these traits. While psychologists have for the most part addressed these issues, I will focus on the latter of the two. There has been a number of multiple personality tests put to use such as the Minnesota Multiphasic Personality Inventory (MMPI), the Thematic Apperception Test (TAT), the Rorschach Inkblots and others. In our class we were instructed to take the 16 PF personality test in which we would judge for ourselves how accurate the test was based on our own personal experiences . In judging the usefulness of this test we took into consideration its reliability and validity. For a test to be reliable it must be able to accurately reflect consistent results for various people that can be agreed upon by researchers and therapists alike. Reliability in turn relates to validity. To be valid a test must be dependable producing data that can be used to detect a mental illness or otherwise certain personality dimensions within psychologically healthy individuals. Furthermore personality tests must be standardized, having data capable of being â€Å"interpreted in a prescribed fashion† (Kalat, 2002, 528). These standards are based on a comparison of a large number of people who have taken the test, one group with a particular disorder and another group who consist of the normal range. These allow researchers to identify people who score within a certain range to be more typical of a particular disorder. While the 16 PF personality test meets these criteria, whether or not the test is accurate remains to be explored. Within the next couple of pages I will describe the results of the test and discuss whether or not the data is an accurate reflection of my own personality. Discussion and Interpretation of Scores: While the 16 PF personality test measured the ... ...y until asked to. Graph of all 18 Factors: Conclusion: The test overall did a fairly accurate job in measuring the various factors of my personality. I only disagreed with two of the ten factors, which I merely saw as an overt measurement. The test appeared to be valid for the most part pertaining to my case, and since validity correlates with reliability, its reliability appears to be relatively strong. However this is merely an opinion based on my interpretation of my own personality. It could be equally likely that other people may get many scores in which they totally disagree on. Since this test was written 20 years ago the question of re-standardization also comes into play. As for cross-cultural differences discussed in the introduction, to me it is unclear whether or not the questions are common to all cultures and backgrounds, yet among English speakers the questions seemed well structured. While no test is perfect, the 16 PF does seem to have relatively high reliability and validity, making it ideal in measuring personality tra its. References: Kalat, J. (2002). Introduction to Psychology (Sixth Edition). Pacific Groove, CA: Wadsworth- Thomson Learning.

American Industrialization And Immigration

This song, written for the Yiddish theatre around 1900 by Hyman Prizit and Abe Schwarz, is a fairly good summation of the essay The Uprooted, written about 50 years later by Oscar Handlin. The second great wave of immigrants during the last half of the nineteenth century consisted of peasant farmers from Eastern and Southern Europe as well as Scandinavia, forced off of lands that had sustained them for generations, no longer able to extract a living from it, or fleeing persecutions and repressive, quasi-feudal governments.The had heard of â€Å"Amerika,† where the streets were paved with gold and land was there for the taking. Often spending all they had, those who survived the crossing arrived and found the streets paved not with gold, but with the blood, sweat and toil of those who were exploited to create gold for elite ruling classes that were often more oppressive than those they had fled. The difference was in the nature of the exploitation and oppression. Whereas in the â€Å"Old Country,† physical violence had most often been the tool of oppression – Cossacks, private police, etc.– in the industrial-capitalistic U. S. , the oppression was economic. Those who controlled the means of production, then as now, though only of maximizing and internalizing profits while minimizing and externalizing costs. Human life meant nothing to the industrial capitalist overlords. Had not the 13th Amendment outlawed slavery, they would have happily enslaved the newcomers in order to keep themselves in luxury. A few of the immigrants were able to escape the cities, and even fewer managed to acquire land and establish farms.Most however found themselves trapped in a system that not only cut them off from the land, entrapping them in a virtual jungle of concrete, brick and stone, but found their very lives subject to economic cycles, manipulations and machinations they could neither understand nor control. When employment was available, the demand s of the corporate leeches robbed the immigrant laborers of the comforts of family, culture and even religious faith, since workers were often required to work seven days a week.In Ethnic Enclaves and the Worker’s Saloon, Roy Rosenzweig describes how the workers of one city were able to take back some power from their corporate overlords, and how the unique character of this city made it even possible. Worcester Massachusetts was unusual in a number of ways. Unlike many industrial towns, it was not located near a navigable river nor a source of raw materials. Additionally, during the wave of corporate mergers and acquisition that took place during the first â€Å"Robber Baron† era around the turn of the 20th century, most of the factories in Worcester managed to remain under local control.â€Å"Control† was the operative word, here; the families who started Worcester’s industries virtually controlled the community. As in large port cities such as Baltimor e, New York and Boston, the immigrant workforce was a mixed lot who often could not see beyond their own ethnic and religious differences to realize that as workers, they shared many of the same problems. In addition, the control of city politics by the industrial capitalists made it difficult for working-class people to get involved in the system in any sort of active way. This, combined with â€Å"the carrot of paternalism† (i. e., â€Å"faith-based initiatives,† charity organizations, educational programs) and the â€Å"stick of repression† (threat of firings if workers were suspected of union activity, tracking of personal information and the use of company spies) helped the elite classes maintain control over the workforce (88). As the ethnic landscape grew more diverse, the individual ethnic communities began to â€Å"circle the wagons,† metaphorically speaking; the results were an â€Å"interweaving of church, fraternal lodge and family† tha t allowed built a support system for the various communities – who were, often as not, at odds with each other.This in combination with the more structured, disciplinarian and authoritarian structure in the workplace that inhibited socialization, gave rise to the saloons – literal drinking establishments as the working class began to have more leisure time. Whereas in earlier times, drinking and socializing on the job (primarily in artisan and agricultural industries) was permissible, in the more mechanized industrial workplace, it was not (more because the bosses wanted more control over their workers rather than out of any real concern for their safety, one suspects).This also had the effect of separating the male from home and family to a greater degree (89). U. S. history appears to run in cycles, with a pendulum that swings from an egalitarian, socialistic economic model in which the economy serves the people, to a quasi-feudal, hyper-capitalistic, laissez-faire s ystem in which a few ruthless individuals claw their way to the top of the socio-economic ladder and become economic leeches, literally feeding off of the blood and sweat of honest laborers while contributing little, if anything to the betterment of society (cases in point – the Walton (Wal-Mart) family, Paris Hilton and the Bush dynasty).Like today, the late nineteenth and early twentieth centuries was a period of capitalism run amuck, justified by a sick, twisted perversion of Christianity preached by a murderous sociopath over four hundred years before in Geneva, Switzerland. Like the medieval Catholicism, Calvinism has been used to justify authoritarianism dominance by a patriarchal, self-appointed aristocracy, whose only interests are in the accumulation of wealth and power over society.Human needs and even lives mean nothing to these predators (although their Congressional lap-dogs and lickspittles are not above moralizing about a â€Å"culture of life† – as long as it involves people who are either still in the womb, are vegetative, or anyone else for whom they themselves don’t need to take any direct responsibility). The tragedy is that the concept of the sweatshop and worker exploitation has never completely disappeared, despite the efforts of the â€Å"saloons† and the union movements that ultimately grew from them.In the 1930’s, Franklin Roosevelt literally â€Å"saved capitalism from itself† with the New Deal that among other things, strengthened worker protections and the right to form a union. For about four decades, these policies resulted in the establishment of a solid middle class – corresponding to the â€Å"yeomanry† that Thomas Jefferson himself said was the bedrock of a democracy. Like the first middle class of the U. S. , which existed between 1790 and 1840, this middle class was politically savvy and involved.When this activism forced an end to their highly profitable war in Vietnam, the politicians and their corporate backers in the war industries responded with a â€Å"new† brand of conservatism which was really the same kind of predatory, â€Å"robber baron† economics that FDR had tried to end. The ultimate goal of today’s neo-conservatism is to end democracy and replace it with feudalism by destroying the middle and working classes – something Reagan and his three successors have been doing quite effectively.Since the labor laws that would have permitted a return to child labor, sweatshops and twelve-hour, seven-day-a-week work schedules would be hard to overcome, this labor was simply shipped overseas to nations where such things were permitted. This not only allowed corporate capitalists to maximize profits to obscene levels on the backs of these workers, it also robbed American workers of their livelihoods, and has put much of the middle class in such economic insecurity, they have little time or inclination for activ ism.This was made possible by a number of things: Reagan’s intentional failure to enforce the Sherman Act, and the elimination of the tariffs that financed a great deal of the federal government for 200 years. This was followed by â€Å"Free Trade† agreements that are in fact â€Å"free† for large corporate interests, but exact a heavy price on everyone else, and the transfer of the â€Å"commons† – that which the citizens of a nation hold in ownership collectively – to private, predatory, profit-driven corporations.The results are clear, if not generally spoken of my a bought-and-paid-for corporate media: 46 million U. S. citizens with no access to health care, the destruction and continuing neglect of a major port city, the rape of a foreign country on behalf of private corporate oil interests (being protected in large part by a private, well-paid mercenary army while U. S. ground troops go without the most basic necessities), the deterior ation of public education, the sell-out of U. S.industry and infrastructure to foreign interests, the near-destruction of the middle class as wealth is stolen through regressive taxes and transferred to economic parasites such as the Walton family. Handlin paints an accurate picture of a time that not only was, but is in great danger of returning. The only hope for the U. S. is suggested by Rosenzweig, which is actually being seen today on the Internet. Today’s Progressive on-line blogs and chatrooms are the new â€Å"Saloons,† where the issues outlined above – long ignored or misunderstood by a citizenry lulled by the panen et circensem of today – are finally being discussed.While the majority of â€Å"Republicrats† and â€Å"Demopublicans† in Congress continue to thumb their noses at the citizens they claim to represent as they continue to enable a dysfunctional, sociopathic, twice-unelected â€Å"president† and his fascist-leaning cohorts, today’s technology has made it impossible to hide the corruption and decay completely. History runs in cycles. Just as the last quarter-century has seen the return of exploitive Robber Baron capitalism, so has the Internet provided â€Å"Saloons† where the working class can once again take back what is rightfully theirs and create an economy that serves people – not the other way around.

Introduction to Entrepreneurial Finance

Entrepreneurial Finance Philippe Gregoire Louvain School of Management – Universite catholique de Louvain Reference book : Entrepreneurial finance, a casebook. Paul A. Gompers and William A. Sahlman. John Wiley & Sons, Inc. 2002 1 Entrepreneurial finance Project assessment (POCD) Funding (amount, firm’s value, best partner) Deal (ownership / control / incentives) Exit (IPO) Project Assessment †¢ 4 critical success factors for entrepreneurial ventures ? ? ? ? People Opportunity Deal Context 3 People I’d rather back a ‘A’ team with a ‘B’ idea than a ‘B’ team with an ‘A’ idea †¢ Who are the key players What is their experience †¢ How does this experience prepare or not prepare them for the opportunity that exists †¢ What are strengths and weakness of the people involved on all sides of the transaction †¢ Are there key individuals that the company should add or replace 4 Opportunity †¢ New product / service ? Smartphone, †¢ New method of delivery ? Amazon. com †¢ New production technique ? Ernest Solvay patent (1861) to manufacture soda ash (enter in detergent, glass, †¦) †¢ Is there a sustainable competitive advantage †¢ Must the opportunity be exploited immediately †¢ Are there intermediate milestones 5Deal †¢ Spending money is not enough. Incentives and contingencies are important considerations. ? Key to all these structural features is the concept of the entrepreneur earning his/her equity through value creation. †¢ Moral hazard and adverse selection ? Entrepreneur bear the downside risk †¢ Choice of appropriate investors ? for whom you raise capital is often more important than the terms †¢ Selection of the proper financial instrument ? ? ? Debt Equities Convertibles / preferred convertibles 6 Securities held by Venture Capitalists †¢ (Source: Kaplan-Stromberg, 2003) Context †¢ Competition †¢ R egulation †¢ International environment †¢ Economic conditions 8 Introduction to entrepreneurial finance †¢ Finance ? Study of value and resources allocation (capital budgeting) †¢ †¢ †¢ Value of cash stream = f(magnitude, timing, riskiness) Economic value = Expected return = PV ? ? T t ? 1 E? Rt ? ? rf ? Risk premium CFt ? 1 ? E ? Rt t ? Cost of capital †¢ Capital rationing †¢ Entrepreneurship ? Focus on opportunities rather than controlling existing resources †¢ Entrepreneurial finance ? ? Financial management within entrepreneurial firmsStudy on both sides of the balanced sheet 9 The Balance Sheet of a Corporation Assets = use of funds Current (Short-term) assets Cash Accounts receivable Inventories Others (various claims) Fixed (long-term) assets Land Buildings Machineries & Equipment Liabilities = sources of funds (Capital structure) Current (Short-term) Liabilities Accounts payable Short-term debt †¦ Long-term Liabilities: Equi ty: Provided by shareholders (= owners of the company) Long-term Debt: Provided by creditors such as banks 10 Others Accounting Income versus Cash Flow †¢ Cash income ? ccounting income †¢ Whereas accountants try to match revenues with expenses, managers and investors focus on the difference between cash inflow and cash outflow. †¢ Cash flow = the amount of cash income (= inflow – outflow of cash) that is generated in any period †¢ Formally, 11 The Cash Cycle of a Firm †¢ Cash cycle: average time between when a firm pays for its inventory and when it receives cash from the sale of its product 12 Sources of Entrepreneurial Finance Bootstrapping Stock markets (IPO) 3Fs Leasing Governmental organizations 13 Section 1. Investment analysis Module 1. A : Source of value ? ? Introduction to entrepreneurial finance Case study †¢ Module 1. B : Financial statements and pro forma models ? Case study †¢ Module 1. C : Purchasing firms, buyouts, and valua tion ? ? Valuation in entrepreneurial finance Case study †¢ Additional (Optional) Reading and References: Smith/Smith: Entrepreneurial Finance, Wiley Edition. Sahlman/Stevenson/Roberts/Bhide: The Entrepreneurial Venture, HBS Press. 14 Section 2. Financing the entrepreneurial firm †¢ Module 2. A : Venture capital ? ? Private equity Case study †¢ Module 2.B : Angel financing ? Case study 15 Section 3. Harvesting †¢ Module 3. A : Initial Public Offerings ? ? IPO process Case study †¢ Module 3. B : Acquisitions ? Case study 16 Module 1A. Sources of value †¢ 4 stages of entrepreneurship ? ? ? ? Identifying opportunities Acquiring the financial, professional, and productive resources Implementing a plan of actions Harvesting the rewards †¢ 4 critical success factors for entrepreneurial ventures ? ? ? ? People Opportunity Deal Context 17 The Knot – People – Opportunity – Valuation – Deal structuring – Source of capital 1 8 Business Case Success as one of the early AOL Greenhouse companies – 3-book deal with Bantam Doubleday – Strong interest from advertisers – Significant traffic at its website 2 issues – Out of cash within 3 months – Race for scale economies on the internet To build the country ‘s number-one wedding resource, Liu needs 10 millions 19 People (Core founding team) †¢ †¢ All media people with experience in software, video, etc. Good understanding of design and presentation †¢ Lack of operational expertise, retail experience, and marketing 20 Opportunity †¢ †¢ †¢ Stable number of weddingRecessions have very little impact Event tied to significant expenditures ? ? Wedding party Guests †¢ †¢ †¢ †¢ Size of the market (35 billion) High advertising rate Stagnant competition, lethargic and not very innovative Couples planning to get married ? ? ? have relatively high income Are fairly young plan major l ife purchases ? are not very price sensitive 21 Opportunity ? Cash Flow Transformed the opportunity into cash flow = Business model = set of factors that together determine the cash flows a company can generate and create value The Knot : registry / advertising / merchandise / publishing and others 2 22 The Knot – People – Opportunity – Valuation – Deal structuring – Source of capital 23 Valuation †¢ Cash flow is the source of value †¢ To date, the Knot has posted losses and is expected to post losses for at least 2 more years †¢ It is difficult to use earnings to estimate the probability of generating future cash flows. †¢ Revenues and mix of revenues appear to be a better measure †¢ Multiple of revenues method. Compare to firms on the basis of ? ? ? ? Stage of development Business model Target market size Size of the investment round 24 List of comparable transactions 25Discount cash flow analysis Most forecasts are widel y optimistic. Discounted cash flow valuations only work when one gets an estimate of the expected CF 26 Actual income statement 27 Split of Revenues 28 Forecasted statement of cash flows 29 Actual statement of cash flows In Millions of USD (except for per share items) Net Income/Starting Line Depreciation/Depletion Amortization Deferred Taxes Non-Cash Items Changes in Working Capital Cash from Operating Activities 2011 5. 99 3. 74 0. 96 2. 78 11. 89 -1. 31 24. 05 2010 3. 65 3. 43 1. 78 2. 3 8 -8. 11 11. 06 2009 -4. 87 4. 75 5. 09 -1. 6 13. 83 -4. 92 12. 33 2008 4. 13 4. 84 3. 98 0. 56 6. 16 0. 2 19. 87 30 The Knot – People – Opportunity – Valuation – Deal structuring – Source of capital 31 Initial deal †¢ Initial investment : strategic partner ? Expect from AOL money, exposure and distribution  « more than just dollars to the deal  » AOL invested 1. 85 million in return for 45%, for royalties amounting to 20% of ad revenues on The Knotâ₠¬â„¢s AOL site and a lesser % of ad revenues on The Knot’s internet site. ? †¢ The deal with AOL provided instant reach and credibility to The Knot †¢ Is the deal expensive for The Knot? 32Ownership after AOL deal 33 Financing the Knot (new deal) 34 Convertible preferred †¢ Preferred has higher priority than common stock ? In the event of a firm’s sale or liquidation, holders of preferred stock get paid before common stockholders do. Entrepreneurs have greater incentive because if things don’t go well, the investor will be paid first Downside risk is borne by the entrepreneur ? ? †¢ Tax considerations ? Entrepreneurs pay taxes on the value of common stock that they have received. ? Investing in preferred stock does not change the price of common stocks. 35 Financing the Knot Why should they invest? To develop The Knot brand, to build out the technological infrastructure, to develop the gift registry business ? Practically, The Knot needs capi tal to fund the payroll and pay for day-to-day operating expenses †¢ How much money? Forecasted statement of cash flow †¢ Who should invest in The Knot? Business Angel, Venture Capitalist, Strategic Partner †¢ How should they value The Knot? Comparable deals on the market, multiple of revenues 36 Investor’s profile †¢ Angels + Higher valuation + – Someone with an experience in the registry business Limited capital ? ay not be able to provide capital in the future if needed Less helpful in recruiting others to the team †¢ Venture Capitalist + + – Large pools of capital and make multiple rounds of investment Network of contacts in the management and financial community Lower valuation †¢ Strategic partner + + – Experience in the business (retailer, wedding registries,†¦) Provide distribution and name recognition Conflicts of interest 37 What happened? May 1998, Venture Capitalist invested $3m for 22% ? $10. 6m pre-money va luation (3/(10. 6+3)=22%) April 1999, Venture Capitalist invested $15m December 1999, IPO 38

Critics Claim Obama Doubled the National Debt

Critics Claim Obama Doubled the National Debt A widely circulated email that began making the rounds in 2009 indirectly claims President Barack Obama tried to double the national debt in one year, presumably in his first budget proposal after taking office. The email invokes the name of Obamas predecessor, former President George W. Bush, in trying to make its point about the Democratic president and the growing national debt. Lets take a look at the email: If George W. Bush had proposed to double the national debt - which had taken more than two centuries to accumulate - in one year, would you have approved?If George W. Bush had then proposed to double the debt again within 10 years, would you have approved? The email concludes: So, tell me again, what is it about Obama that makes him so brilliant and impressive? Cant think of anything? Dont worry. Hes done all this in 6 months-so youll have three years and six months to come up with an answer! Doubling Down on the National Debt? Is there any truth to the claim Obama proposed to double the national debt in one year? Hardly. Even if Obama went on the most lavish spending spree imaginable, it would have been pretty difficult to double what had been the total publicly held debt, or national debt, of more than $6.3 trillion in January of 2009. It just didnt happen. What about the second question? Did Obama propose to double the national debt within 10 years? According to nonpartisan Congressional Budget Office projections, Obamas first budget proposal was, in fact, expected to double the countrys publicly held debt over the course of a decade. Perhaps this is the source of confusion in the chain email. The CBO projected that Obamas proposed budget would increase the national debt from $7.5 trillion - about 53 percent of the nations Gross Domestic Product - at the end of 2009 to $20.3 trillion - or 90 percent of the GDP - by the end of 2020. The publicly held debt, also called the national debt, includes all monies owed by the United States government to persons and institutions outside the government. National Debt Nearly Doubled Under Bush If youre looking for other presidents who nearly doubled the national debt, perhaps Mr. Bush is also a culprit. According to the Treasury, the publicly held debt was $3.3 trillion when he took office in 2001, and more than $6.3 trillion when he left office in 2009. Thats an increase of nearly 91 percent. CBO Projects Debt to Almost Double by 2048 In June 2018, the CBO projected that without major changes in government spending, the national debt will nearly double as a share of the economy over the next 30 years. Currently (2018) equivalent to 78 percent of the GDP, the GBO projects it will hit 100 percent of GDP by 2030 and 152 percent by 2048. At this point, the debt as a share of the GDP would exceed the records set during World War II. While government spending on discretionary or optional programs is expected to remain steady or even decrease, the growth in the debt will continue to be driven by health care costs and increased spending on entitlement spending, like Medicare and Social Security as ever-more people reach retirement age. In addition, the CBO projects that President Trump’s tax cuts will add to the debt, especially if Congress makes them permanent. The tax cuts, currently in effect for 10 years, are expected to reduce the government’s revenue by $1.8 trillion through 2028, with even greater reductions in revenue if the tax cuts are made permanent. Large and growing federal debt over the coming decades would hurt the economy and constrain future budget policy, reported the CBO. The amount of debt that is projected under the extended baseline would reduce national saving and income in the long term; increase the governments interest costs, putting more pressure on the rest of the budget; limit lawmakers ability to respond to unforeseen events; and increase the likelihood of a fiscal crisis. Updated by Robert Longley

Artist Essay Example

Artist Essay Example Artist Essay Artist Essay Artist What do you think of when you hear the word artist? Picasso, Dali, Ad Vinci, and Michelangelo are all typical answers. They are also crucial to how we define artist. Most people, including the dictionary, consider artists people that draw or paint pieces of art and make a living off of it. An artist does not have to paint or write to be considered one. In fact, an artist does not have to be a professional at all. The word artist meaner so much more, and requires a broader definition. An artist is someone who excels at something and inspires others with their work. From the street performer to the multi-million dollar piece of art to the Hessian winning quarterback, artists captivate our attention and provide us with inspiration to be better than who we already are. Many athletes could be considered artists because what they do is amazing. They inspire many normal people to do incredible things, and that is a hallmark of a great artist. Just like the painter that takes the breath away from someone, an athlete can create memorable plays with their mastery of what they do. In soccer all the mime you hear the announcer call the players artists. The way they move on the field and the things they can do with the ball inspire awe in every person that watches. What they do inspires others to do amazing things Just like them. Watching an amazing athlete sends chills down your spine. As well as athletes being considered artists, musicians could be as well. They hone their craft with much precision, and work many long hours on what they do. Their work inspires others as well, and when you hear a very nice piece of music it ivies you chills Just like an amazing piece of art. People go to concerts to see these amazing artists, Just like how people go and see art in art museums. Music has a way of changing how people think, and that is a very influential thing. Just like art that provokes thought, music can provoke emotions in people. Because of how well musicians influence thoughts and emotions, they should be considered artists. Artists are not Just confined to sports, music, and painting, they can also be writers. Thousands of books across many centuries have inspired others to lead hanged or to do great things. Almost everyone has been moved by a well written book, and this has inspired them to do something. This again is the hallmark of a great artist. Writers are some of the most influential people in the world. While more commonly thought of as an artist than an athlete or musician, a writer is still not the first thing to pop into your head when you think of an artist, but it should definitely be thought of more often. In the early sasss, an artist was thought of as a painter, and the art they were aging was in the midst of a change. As the century progressed up into the early sasss, the artist was thought of more as someone who hones their craft, and it branched out into music and sports, much like today. Now in the 21st century, the thought of what an artist is is much broader, and encompasses much more than the previous century. Now artists are people who perform their craft to a level that most The word artist cannot be overused. Anyone who inspires someone will their skill in a particular thing should be considered one. Also, the people we call artists do not have to be specifically professionals.

Major Wars and Conflicts of the 20th Century

Major Wars and Conflicts of the 20th Century The 20th century was dominated by wars and conflicts that often altered the balance of  power around the globe. The 20th century saw the emergence of total wars, such as World War I and World War II, which were  large enough to encompass nearly the entire world. Other wars, like the Chinese Civil War, remained local but still caused the deaths of millions of people. The reasons for the wars varied from expansion disputes  to  upsets in government to the  intentional murder of an entire people. However, they all shared one thing: an extraordinary number of deaths. Which Was the Deadliest War of the 20th Century? The largest and bloodiest war of the 20th century (and of  all time) was World War II. The conflict, which lasted from 1939 to 1945, involved most of the planet. When it was finally over, more than 60 million people were dead. Of that enormous group, which represents about 3 percent of the entire world population at the time, the huge majority (well over 50 million) were civilians. World War I was also bloody, with 8.5 million military deaths plus an estimated 13 million more civilian fatalities. If we were to add in the deaths caused by the  1918  influenza epidemic, which was spread by returning soldiers at the end of  World War I,  the WWI total would be much higher, since the epidemic alone was responsible for  50 to 100 million deaths. Third in the list of bloody wars of the 20th century is the Russian Civil War, which caused the deaths of an estimated 9 million people. Unlike the two world wars, however, the Russian Civil War did not spread across Europe or beyond. Rather, it was a struggle for power following the Russian Revolution, and it pitted the Bolsheviks, headed by Lenin, against a coalition called the White Army. Interestingly, the Russian Civil War was over 14 times deadlier than the American Civil War, which saw the deaths of 620,000. The American Civil War was by far the deadliest war in history for United States soldiers. The second deadliest war in terms of American deaths was World War II in which 405,399 Americans died. The List of Major Wars and Conflicts of the 20th Century All of these wars, conflicts, revolutions, civil wars, and genocides shaped the 20th century. Below is a chronological list of the major wars of the 20th century. 1898–1901 Boxer Rebellion1899–1902 Boer War1904–1905 Russo-Japanese War1910–1920 Mexican Revolution1912–1913 First and Second Balkan Wars1914–1918 World War I1915–1918 Armenian Genocide1917 Russian Revolution1918–1921 Russian Civil War1919–1921 Irish War of Independence1927–1937 Chinese Civil War1933–1945 Holocaust1935–1936 Second Italo-Abyssinian War (also known as the Second Italo-Ethiopian War or the Abyssinian War)1936–1939 Spanish Civil War1939–1945 World War II1945–1990 Cold War1946–1949 Chinese Civil War resumes1946–1954 First Indochina War (also known as the French Indochina War)1948 Israel War of Independence (also known as the Arab-Israeli War)1950–1953 Korean War1954–1962 French-Algerian War1955–1972 First Sudanese Civil War1956 Suez Crisis1959 Cuban Revolution1959–1975  Vietnam War1967 Six-Day War1979–1989 Soviet-Afgha n War1980–1988 Iran-Iraq War1990–1991 Persian Gulf War1991–1995 Third Balkan War1994 Rwandan Genocide

Quality television Case Study Example | Topics and Well Written Essays - 500 words

Quality television - Case Study Example Getting the attention of the target audience based on the genre of programme being produced is crucial to the success and production of a quality television programme, therefore, when developing a programme its content should be tailored to meet the demands and wants of the target audience. The quality of television programme can also be adversely affected by the main purpose it was made or the concept behind the making of the programme. This means that if a programmes main purpose is to offer comedy, its development and production must bent towards the humour and comedy that is appropriate and relate-able to the target audience. Blending the two will create a cultural value that is guaranteed to increase the quality of the television programme. In addition, creativity and originality of the content being generated are key values that increase the artistic aspect of the film thus increasing the general quality of the television programme. This is mainly due to the growing variation of genres in the film industry, the rapid and constant production of programmes by companies competing for airtime to increase their audience database and revenue thus their is constant repetition of ideas and concepts in many television programmes. The originality, creativity and /or the innovation behind a television programme is thus a key quality in the achievement of a quality television programme. For example, the remake of and old programme can increase the quality of the film through innovation and creativity by incorporating current cultural aspects and new technology in its development giving the audience a new take on the programme. Monetary investments are vital in the production of quality television. This is true based on the current technological advances leading to the demand for quality films with completely concealed staged events. For example,

DBA Comprehenive Examination Research Paper Example | Topics and Well Written Essays - 11000 words

DBA Comprehenive Examination - Research Paper Example According to Jensen & Ruback (1983) mergers and acquisitions benefit companies as it provides synergy, tax saving, shareholder wealth maximization and signaling. Draper & Paudyal (2008) state mergers and acquisitions have been beneficial to economies as the production achieves higher efficiency and has improved output. The economies achieved the ability to have improved bargaining power with the supplier and customer due to mergers and acquisitions. Mergers provide the companies to get tax savings. Mergers and Acquisitions According to Elebourne & Rambarran (2004), the process of merger refers to the process where one company is merged with another, and acquisition refers to the process when the company acquires another company. The merger process can be horizontal, vertical or conglomerate. As per Stigler (1950), horizontal mergers are achieved by merging the products and services. Horizontal merger is used in the way that the share of the company increases in the market and it was common during the onset of World War I, when the stock market crashed in 1903-1904. Two firms are merged in a vertical manner when they are merged through the value chain. Sudarsanam (2003) defines conglomerate merger as a common M & A method where the companies from different industries come together. All the three types of merger systems require the companies to merge in three ways: 1. The revenues of the companies should be merged to achieve a high revenue generating company. 2. The expenses of the two companies should merge to achieve a low expense operation. 3. The cost of capital of the two companies should be combined which will reduce the overall cost of capital. The cost saving is archived through the removal of repetitive process in the two companies for which the merger is required at various level. Integration can happen in full functional area of the companies; for example - human resource, accounting, information technology, marketing, finance and operations. The new c ompany will be working on best practices of the two companies and certain key factors will be merged together to have a modern age merger and acquisition. Minimal merge will be adopted by personnel and it will involve reducing redundancies. The best ways of mergers are when the two companies come together to exploit the best of other. This method is called positioning and it happens when the two companies position by taking advantage of the trends in the market. Gap filing refers to the condition when the two companies have major weaknesses, which is reduced due to the merger. The company having strength becomes an advantage for the other company and both the companies are benefited. Mergers can happen for business reasons; for example in bargain purchases where the company can be acquired at a low cost and this helps both the companies. Mergers can also provide the method of diversification which is needed for improving the earnings and to achieve higher opportunities and growth in business. The companies can get further growth through mergers and there are certain mergers which can provide short term growth to the company. The acquisition of two companies should be optimistic and bad decisions should be eliminated from the processes of merger and acquisition. Three specific examples of challenges of major challenges faced by the companies during M & A in the last five years are: 1. Merging

Difference between theology and religious studies Essay

Difference between theology and religious studies - Essay Example On the conventional account, theology differs from other forms of reflection, including religious studies, for one or both of two reasons: (1) because it has to appeal to special criteria of truth for some if not all of its assertions; and (2) because the theologian has to be a believer who already holds these assertions to be true. (Ogden) People of the Christian faith cannot accept principles of other religions, unless they conform to Christianity. An example would be a Christian believes Jesus Christ is the Savior and is equal to God the Creator. This means a Christian would not adopt views contrary to this, such the Islamic or Judeo belief in one God. Theology only reaffirms the belief in Jesus Christ. different from religious studies, as well as from other forms of reflection, even it it were in full compliance with the same standards of reflection, since the sufficient ground of its difference is the question that constitutes it a distinct field of reflection—namely, the reflective question as to the meaning and truth of the Christian religion, or witness of faith. (Ogden) â€Å"Religious Studies" is often used as a general heading, covering a multiplicity of possibly conflicting methodological approaches to religion. Some of them still tend to be regarded as alternatives to "Theology". (Leirvick) Many of the non-Christian religions have religious instruction in their Temples, Mosques, and other institutions instead of teaching their religion in colleges. College courses for these religions are for knowledge, not the believer. Theology is taught at colleges and universities built around the theological study. Religious studies are for knowledge, whereas theology is for the believer in Christianity. Theology is the study of the Christian faith, whereas religious study deal with every other religion. Theology is taught in mainstream colleges and universities. Religious studies are also taught in mainstream colleges and universities,

Blow the Whistle Case Study Example | Topics and Well Written Essays - 750 words

Blow the Whistle - Case Study Example ii. The employee of Manly Construction Company should be aware that their life is more important than the job opportunity they have. Therefore, they should make hast quit if their health/welfare related grievances cannot be addressed by the company.ii. The employee of Manly Construction Company should be aware that their life is more important than the job opportunity they have. Therefore, they should make hast quit if their health/welfare related grievances cannot be addressed by the company.iii. Even if not disturbed, the cyclic circulation of air is able to blow up certain fibers into the air and still be breathed in by the surrounding individuals.iv. The President is an escapist when he does a memo instructing people not to disturb (move) any boxes or perform any activities that could damage the asbestos or release fibers into the air yet there was still impacts felt.   The wrongs are misleading pieces of information relayed to the people. In this case: i. Employees of Manly Construction Company are threatened with losing their job positions by the management should any information about the existence of this hazardous asbestos be released to the public for any mater. The employees should be offered with suitable work environments for effectiveness.Besides, no threats should be issued to any employees who are seeking his or her rights within the work area.This is considered unethical because it is a command that kills. All those who shall have reported as stipulated in the memo, though their workplaces are proved dangerous, will be risking contracting cancer of the lungs. Conflict  is a state of disharmony that may be between incompatible or opposing persons, ideas, or interests in a particular issue or topic.Blow the whistle case study revealed a number of conflicting issues that had little or no practicality in them. Among the ideologies, instructions, words and statements identified as contradicting in the concept of ethical expectations include:  i. While the President’s memo denotes the risks of disturbing any boxes by moving or performing any activities that could damage the asbestos or release fibers into the air,   the county gives Manly Construction Company up to a period of seventeen days to clean up the fallen asbestos fibers in the vaults.

Something to change in our university Essay Example | Topics and Well Written Essays - 750 words

Something to change in our university - Essay Example In this regard, there is a lot that NYIT is doing well to help international students adapt to education in the United States. For instance, NYIT has made orientation a mandatory program for all students, regardless of whether they are native of foreign students. This program is designed to ensure that the students have a smooth transition to the university. The students get to explore the campus and learn about the valuable resources that are available to them. They are also taught about the activities and general campus life that they should expect to experience while studying at NYIT. The orientation programs give them the opportunity to participate in social events, familiarize themselves with the campus environment, and meet other members of the institution. NYIT is also doing well by working in collaboration with other agencies with the aim of helping international students adapt to education in the United States. One such agency is Education USA. This agency is known for assisting international students learn about the educational opportunities available to them in the United States. NYIT ensures that international students meet with their international student advisors upon arrival at their specific campuses. The advisor is very instrumental in helping the students ensure that they have complied with the admission requirements before they are allowed to report to class. Despite all the above, there are a number of services that have been both difficult and unsatisfactory for me and other students I know. For instance, requiring international students to provide a notarized affidavit of support and bank statement to demonstrate their financial ability is somewhat unfair and an infringement of privacy because I believe that a student applies for admission knowing that the ability to pay fees is not in question. This can be improved by simply requiring one to state who shall be responsible for paying their fees. Also, the

Westpac Banking Corporation Essay Example | Topics and Well Written Essays - 2500 words - 3

Westpac Banking Corporation - Essay Example Headquartered in Melbourne, Australia, it is a major international banking and financial services group employing over 30,000 people. ANZ began its operations as the Bank of Australasia in the 1830s. During its evolution, ANZ has transacted (merged and acquired) with dozens of banks to arrive at its current standing. ANZ today is the largest bank in New Zealand with assets over $335 billion. ANZ is a publicly listed company and has a footprint in Australia, New Zealand, Asia, Pacific, UK/Europe, India and the USA. The year 2006 marked a golden year for Westpac with profitability surging to $3.6 billion, which is 16% higher than the previous year (ANZ Company Profile). Â  Established in 1874, Bank of Queensland is Australia’s fastest-growing retail bank with a network of over 200 branches. It ranks among top 150 listed companies in Australia. In the year 2006, Bank of Queensland reported earnings of $82 million, a 21% increase over the previous year. The earnings surpassed expectations of the management as well as shareholders. Â  Westpac’s approach to corporate governance is based on a set of values and behaviors that ensure transparency and fair dealing and protect shareholder interests. The Board at Westpac monitors local as well as global developments in best practice corporate governance particularly to analyze their ramifications for Westpac. Â  The Australian Stock Exchange Limited (ASX) listing rules require listed entities like Westpac to furnish a statement in their annual report whereby the company discloses the extent to which it has complied with the 28SASXCGC Best Practice Recommendations for the reporting period, and to justify any variances observed. Â  

Something to change in our university Essay Example | Topics and Well Written Essays - 750 words

Something to change in our university - Essay Example In this regard, there is a lot that NYIT is doing well to help international students adapt to education in the United States. For instance, NYIT has made orientation a mandatory program for all students, regardless of whether they are native of foreign students. This program is designed to ensure that the students have a smooth transition to the university. The students get to explore the campus and learn about the valuable resources that are available to them. They are also taught about the activities and general campus life that they should expect to experience while studying at NYIT. The orientation programs give them the opportunity to participate in social events, familiarize themselves with the campus environment, and meet other members of the institution. NYIT is also doing well by working in collaboration with other agencies with the aim of helping international students adapt to education in the United States. One such agency is Education USA. This agency is known for assisting international students learn about the educational opportunities available to them in the United States. NYIT ensures that international students meet with their international student advisors upon arrival at their specific campuses. The advisor is very instrumental in helping the students ensure that they have complied with the admission requirements before they are allowed to report to class. Despite all the above, there are a number of services that have been both difficult and unsatisfactory for me and other students I know. For instance, requiring international students to provide a notarized affidavit of support and bank statement to demonstrate their financial ability is somewhat unfair and an infringement of privacy because I believe that a student applies for admission knowing that the ability to pay fees is not in question. This can be improved by simply requiring one to state who shall be responsible for paying their fees. Also, the

Final Proposal Essay Example for Free

Final Proposal Essay In 2009 the Arena Football League ran into financial trouble. The league has since been purchased and now looks ready to reemerge as a more financially secure business. Some said the AFL tried to do too much too soon. With a large television contract on a major network, and eighteen game regular season and player salaries well into six figures, I would agree. The league couldnt control cost, so they couldnt make money. The problem wasn’t fan interest and low attendance; it was a league working outside of their means. By watching, and experiencing some of these mistakes I will help with a model to develop a second tier indoor football league. My model will not try and do too much too fast. I will attempt to find ways to reduce expenditures. There have been many indoor leagues and indoor league franchises that have folded or shut down operations. One way I will try and save on start-up expenses is approach these teams and leagues to try and purchase some of those assets. These assets may include equipment like helmets and shoulder pads or even the turf to lie down inside the arena with the dasher pads that cover the walls to protect the players. Finding these items at low cost will help in the long run. Arena football is perfect for many people. The hard core football fan will like the hard hitting, and quick scoring. Families like arena football, because its an inexpensive way to bring the family to a sporting event, and the players are more accessible then NFL players. Its a fun summer time activity that everyone can enjoy. I will make sure that merchandise and tickets remain at an affordable price so that many families can feel that they are going out for an affordable evening of entertainment and they can feel comfor table bringing the entire family. I will start ticket prices at seven dollars per single game. With a home schedule of six games we can begin marketing season passes at just forty-two dollars. The average cost for a family to attend an NFL game can cost hundreds of dollars. A single premium ticket to see the New York Giants in 2012 costs $ 464.75. However, Team Marketing Report bases its findings on average ticket prices, and in 2012 that runs at $78.38, or $313.53 for four. (Yahoo sports 2012) A family can purchase several season passes and  attend every home game with the family as opposed to purchasing tickets to just one NFL game. The average cost of just one beer is $7.28. Football fans are no longer limited to just Budweiser and Miller when they go to the stadium. According to Esquire’s â€Å"NFL Stadium Food Power Rankings,† many craft brews are available at NFL games, including Goose Island Honkers Ale and Red Bridge Gluten-Free beer. On average, NFL fans can expect to pay $7.28 for a small beer at the stadium. The most expensive are found at San Diego’s Qualcomm Stadium and Buffalo’s Ralph Wilson Stadium, where the cost is $9. The study assumes two beers will be purchased, or $14.56. (Yahoo sports 2012) I will work out a way for vendors and the arenas to get those costs down. Some arenas and other venues do not allow a fan tailgate in order to get those paying customers inside. I will make sure the leagues venues allow a pregame atmosphere where fans can bring their own refreshments and not have to worry about high costs inside. The average cost of a hot dog is $4.84. There is no substitute for a good old fashioned hot dog. According to Team Marketing Report, that’s $4.84 or $19.36 for four. (Yahoo sports 2012) Parking fees are always a major concern when attending major sporting events like NFL games. Sports venues are often accessible by mass transit, but many will still drive to games. The average cost for parking is $27.35. (Yahoo sports 2012) We have to find a way to get these costs down and encourage our fans to drive to and park at the arenas. It’s hard for some NFL fans to leave the game without taking some merchandise home. Team jerseys and caps are popular choices. We definitely want our merchandise to be affordable so that our brand and logo gets out into the community. The report found that the average price for a cap is $21.38, and to keep the kids happy, two will be purchased for $42.76. (Yahoo sports 2012) There has to be a way to get these costs down. The averages add up to nearly 500 dollars for a family of four. This is a very expensive afternoon or evening out. That is a lot of money for the average family to spend in a single afternoon and discouraging for families working a tight budget. Arena football is fun, hard hitting and high scoring and must be an affordable venture for families to enjoy. In order for a franchise like this to be successful, the right people in the right places doing the right things is essential. The owners must place executives in the right positions to lead. The General manager is a position that has a lot of duties, they must make sure the marketing and sales staff is in place, they must also hire a director of football operations, this persons job could have many duties as well, in most organizations this person handles game day operations, scheduling, travel, and player relations. There is also the head coach, he oversees the coaching staff and delegates those responsibilities. A budget must be managed, the right coaching staff and player personnel must be in place, the right players have to be chosen, and the team must be marketed and advertised in a correct way. I will be presenting to the board the addition of a couple of programs and personnel important for an indoor football team that may get overlooked. That operation will be a Game Day Staff and Ops crew. We will need a game day staff to help coordinate half time and down time events in order to keep fans involved. We need this staff to help time out a game day script that will tell coaches and players when they can and can’t be on the field and will allow the sponsorship staff a guide to offering sponsorships as they can determine how much exposure they will receive. They will also coordinate with team sponsors on promotional events like a T-shirt toss or game day give away. Some sponsors will like their logo and name on noisemakers or small footballs that get tossed into the crowd. We will need an assistant to the equipment manager and trainer. There is equipment that needs to be transported from the team’s offices to the arena on every game day. There needs to be someone to help set up the locker rooms for the players and coaches as well as the referees and visiting teams. This will include handing out game day equipment and uniforms as well as making sure water coolers and bottles are filled for in the locker room and bench areas. We will need to hire a Director of Football operations who can oversee these areas, in addition to these responsibilities the director will be in charge of updating the website with stats and news as well as player transactions. The director will also handle travel arrangements for the team and hotel accommodations for the visiting teams as well as team meals for both. The  presence of a director of football acts as an intermediary between the general manager and the board and may relieve pressure on a manager by handling aspects away from day-to-day coaching, allowing a manager to focus on performance. In general, the director of football operations is not a shareholder in the club, or holds a nominal stake. This is opposed to other members of the board with whom the director of football will sit. This allows an impartial go-between that will not have biased views. The level of power and influence in the day-to-day and transfer operations of the club held by a director of football may vary considerably. In some cases, the position may be as a figurehead or as a club ambassador, with transfer dealings, team affairs, squad selection and day-to-day operations handled exclusively by the manager and his staff. Often, the position in this case is filled by a former famous player. Bobby Charlton at Manchester United is such an example. In such a case, the role of the director of football is more one of club promotion and marketing than that of actual control over footballing operations. Employing a well-known football personality in such a position may also be used to enhance the perceive d prestige of the club, improving the clubs position in the transfer market. (Wikipedia 2012) The director of footballs job is sometimes compared to that of a general manager in a North American professional sports organization, and often referred to as sporting director or some equivalent in continental Europe. Marketing the team can be a task. There has to be structures in place that will help the team succeed in getting noticed, gaining sponsorships, and selling tickets. Our book discussed a model. The principles that should be observed in a marketing program include: Customer principle, Competition Principle, Practice Principle, Cross-Functional Principle, Continuous Improvement Principle, and the Stakeholder Principle (Krotee Bucher, 2007, pp. 474-475). In the indoor football program that I currently work for, marketing is a big deal and it seems as if some of these principles are in place. We take into consideration what type of customers we will have, catering to middle-aged men and young kids. We understand what and who we are competing with; Florida Everblades are a minor league hockey team that occupies the same arena. We compete with them in the same market. There is  also minor league baseball in town, a group that has games sometimes on the same nights as us. The cross-functional principle works with the hockey team as well. During their games we are allowed to set up an information table and sale season passes and merchandise during their contests. The continuous principle is where we hand out surveys to season ticket holders asking questions about how we can improve. The stakeholder principle helps us as we continue to be the model franchise for the league and the one that other franchises would like to emulate. How the team is perceived in the public eye is vital for its success. The first task for a company is to decide that all forms of public relations will be based on current strengths and the overall mission of the company. We want to make sure our targeted group understands exactly what we want to accomplish in all areas. (Krotee March, 2007. p. 457). A company must also know who their audience is and how they can reach them. Ive mentioned before that the indoor football team I work for targets middle-aged men and school aged kids who can bring parents. We hand out ticket vouchers to kids at local events and schools. Each kid will only get one voucher. The reasoning behind this is that we understand these kids can’t get to the game alone. They have to have someone drive them whether it’s a parent or older sibling or friend. They will be they paying customer bringing in ticket sales, which without having handed out the voucher, wouldn’t have been sold otherwise. The other catch is that the arena will only accept so many vouchers per night. We inform the voucher holder that it is wise to get to the box office in advance of the event to claim their ticket. Many don’t do this and by the time they get to the arena the allotted amount of free vouchers has been counted. This person is stuck having to now pay for a full price ticket as they will probably not opt to return home. There have been complaints about this program but it is stated by whoever hands out the voucher and on the voucher itself that there will be limited use. Another aspect of effective public relations is to find out what the customers are thinking, along with what they believe. The team has sent out surveys to season ticket holders with questions about how they can do better. There are also randomly timed questions that go out on social media like, what is your favorite night to watch arena football? This can help when scheduling home games as most people wouldnt want to come on a Monday night because of work obligations.  (Krotee March, 2007. p. 457). A fourth aspect of public relations work is deciding what services or programs to offer that will best suit the needs of the intended audience. We try and figure out if most people would rather purchase a hat or tee shirt or would they be more likely to purchase season passes at a discounted rate or buy game to game. (Krotee March, 2007. p. 457). Choosing a good PR representative is also key. Someone who understands the mission is important. All of these aspects will help a new league flourish and remain successful. One more important part to that would be landing some type of television or media deal. The younger, mostly male audiences at professional sporting events are an attractive crowd for advertisers, but pro sports can be an expensive buy as we have already mentioned. Advertisers and sponsors reach not only young men but also, because games are less expensive to attend than most pro sports events, families looking for cheap entertainment as well. Advertisers can also get more creative at AFL games than they can at other leagues such as the NFL. The league can handle its own advertising and sponsorship, and individual teams handle some promotions. Arena Football League games are played on 50-yard fields surrounded by padded dasher boards that look similar to those used in hockey. These boards create prime billboard space where companies that purchase sponsorship can place their name or logo. It would be more appealing to a company to purchase if they knew they would be exposed to a national audience. The season will run from March to August, so that it won’t interfere with the NFL season. There are a number of advertising options on and around the playing field, including ads on the boards, 6-by-9-foot turf squares on the field itself, and ads on the jumbotron scoreboards hanging from the center of the ceiling where highlights can be played and the score clock is displayed. Brands can also place patches on player uniforms, decals on helmets, graphics on game balls, or ads on first down markers. Anywhere that there is viewable open space can be covered in advertisement. Other options available in the arena are similar to those seen in other sports, such as signage, static and video ads on the scoreboard, on-field promotions during timeouts and stoppages in play, and  concourse booths that can be used for sampling and fan interaction. Some promotions that I have seen in the past that get fans involved is a football toss from a long way out attempting to win a car by throwing the ball through the driver’s side window. The league may also have a title sponsor. For example, the Indoor Football League presented by Bud Light. We could also title the championship game, the third annual Doritos Indoor bowl, similar to how colleges promote bowl games. On-field advertisers can get additional exposure on television. Games may also be televised locally in teams markets, giving on-field advertisers extra eyeballs. The only downer to this would be the argument that fans won’t come pay to see a game live when they can watch it in the comfort of their own home for free. We will continue to build in smaller markets like here in Fort Myers Florida or Rome Georgia. We will not compete in watered-down, saturated markets where local businesses have been bombarded with sponsorship sales and sports marketing teams. Game attendance will be tracked and TV ratings are also used to measure impressions. We will use sponsors relevant to our target market, they will include telecom, restaurants, insurance, athletic equipment and apparel, hotels, soft drinks and beer. Arena Football League fans are 72 percent male and 28 percent female, according to Scarborough Research. Sixty-two percent of fans are ages 18-49 and 33 percent are 18-34. Forty-six percent of fans have an annual household income below $50,000, with 33 percent between $50,000 and $100,000, and 21 percent above $100,000. The mean household income of AFL fans is just over $72,000. (League Attendance 2012) The success of an indoor football league and franchise is dependent upon having many working parts in place. There must be a realistic budget to work with so that these teams and leagues aren’t working outside of their means. Player and coach salaries must be realistic in order for these teams to stay alive. Ticket and merchandise costs for fans must be affordable in order to appeal to larger crowds. The venues must work with the individual teams to keep costs down. They must make parking costs and vending costs affordable so that fans and families will attend more than one event per year. There has to be a good marketing team that understands the mission is to not only make the team money, but appeal to fans and gain support from the local community. It will be the leagues  responsibility to broaden that market by adding television and media exposure. Finally, there needs to be a good PR program in place so that a good relationship between the team, league, and its fans remain. References Krotee, M., Bucher, C. (2007). Management of physical education and sport (13th Ed.). Boston: McGraw Hill. ISBN: 0072972920. Wikipedia: The free encyclopedia. FL: Wikimedia Foundation, Inc. Retrieved December 9, 2012, from http://en.wikipedia.org/wiki/Director_of_football Arena Football League Attendance Needs Some Help: Fan Opinion by Eric R. Ivie | Yahoo! Contributor Network – Wed, Apr 11, 2012 3:12 PM EDT, retrieved on December 9, 2012 from http://sports.yahoo.com/news/arena-football-league-attendance-needs-help-fan-opinion-191200000.html NFL game-day costs for fans By Daniel Bukszpan | CNBC.com – Thu, Oct 4, 2012 3:31 PM EDT retrieved on December 9, 2012 from http://sports.yahoo.com/news/nflnfl-game-day-costs-for-fans.html

Changes In Policies Directed Toward Poverty Social Policy Essay

Changes In Policies Directed Toward Poverty Social Policy Essay This assignment will examine the transformation of social welfare policy that was established and implemented during the course of the 19th and early 20th centuries to address the problem of poverty and to assist the poor at a time when rapid industrialisation hit Britain. These policies had been developed throughout this period using a combination of both state and charitable sector intervention that expanded and contracted at different levels within both sectors at different times. The assignment will be structured to incorporate the following distinct yet associated elements: Initially, I will explain what relief system/policy was in place to address rural and urban poverty leading up to the early part of the 19th century. Then, I will go on to set the environmental context in terms of how the rapid industrialisation that occurred in Britain could have contributed towards exacerbating the poverty being experienced by local communities and individuals during the early 19th century. I will then go on to concentrate on those policies and interventions that were introduced and/or endorsed by the state to specifically address poverty and help the poor; whilst considering in parallel, the differing perceptions of success and failure that surfaced during the implementation of these policies spanning a timeline of the 1800 1939 period. An integral part of this will include the differential categorisations and views on poverty that existed and subsequently evolved during this time period. Main body From the introduction of the Elizabethan Poor Law Act of 1601, those who were considered as deserving poor received relief from within their parish, which was subsidised by a compulsory poor rate levied on each parishs land and property owners. This was intended to give local control and responsibility for reducing the poverty being experienced by the poor, young, infirm or elderly within communities. These deserving poor were provided with what was termed Outdoor Relief in the form of either monetary payment or in-kind relief such as food, rent or clothes which enabled them to stay at home. Those who were classed as poor impotent people (2002, pg 11) and unable to help themselves, alongside the able bodied poor who were set to work, were provided with indoor relief within workhouses. This system continued well in to the late 18th century until the introduction of the Gilberts Act which advocated that workhouses should become poorhouses, run by poor law parish unions, to help only th e sick, the orphaned or the elderly. Joseph Townsend subsequently expressed his disapproval of this approach: and said that the workhouses operate like the figures which we set to scare the birds, till they have learnt first to despise them then to perch upon the objects of their terror. (Townsend 1788 cited in Spicker 1984, pg 10) The able-bodied poor could still claim outdoor relief but would be expected to find employment outside of the union workhouse, therefore poverty and poor relief problems became compounded further during a time of agricultural depression when wages were low and unemployment and population numbers were on the increase. By the early part of the 19th century the poor relief system was under significant strain as poor rates escalated, food prices were higher and the worlds first industrial society was spawned as industrialisation hit Britain. This was to be a period of rapid industrial advance and unprecedented urban growth; of major shifts in patterns of occupation (chiefly from agricultural to industrial and service) and of economic insecurity for many. (Kidd,1999; pg 4) Technological advancement moved into rural communities, and the agricultural labourer was replaced with more cost efficient machinery, such as horse powered threshing machines. This meant that agricultural workers and their families had little choice but to move to the more industrious towns and urban cities where wages were higher and there were more opportunities for work within factories, particularly in the textiles, transport and mining sectors. In reality, this optimistic view taken by those looking to escape the difficulties of the countryside and improve their standard of living would be faced with other prohibiting factors and subsequent poverty within the mass working class neighbourhoods would be harshly realised in various ways. Within the cities people were living in cheaply built, overcrowded terraced housing, which had inadequate sanitation and few amenities. Within the factories, conditions were no better as workers were subject to working unprotected around dangerous machinery, whilst working long hours for unduly low wages and receiving harsh punishments for non compliance. Similarly, employers could freely use child labour which they felt aided poor families by giving their children work from the age of five years upwards, much to the detriment of a childs education which was fated due to no enforced legislation being in place. In addition, there were increasingly instances of poor malnutrition that existed in families which was associated to the costly prices of food, therefore poor factory workers could usually only afford to buy rotten items. Taking into account all of these factors, the families of manual workers were always vulnerable to unemployment, sickness, old age or the death of the breadwinner, which reduced them to pauperism (Royle, 1997; pg 162) New Poor Law As population growth reached an unprecedented level, poor relief costs were also rising as more people were falling into a spiral of poverty and pauperism rather than benefiting from the increased wages and improved standard of living that optimists of the industrial revolution predicted. Politicians recognised that the current poor law system of 1601 needed to undergo considerable reform as there were clearly widespread frustrations on the back of what Malthus argued as providing encouragement to illegitimacy (Spicker et al 2007; pg 148) through the provision of family child allowance and that outdoor relief will diminish both the power and the will to save among the common people (Malthus cited in Kidd 1999; pg 21) inadvertently forcing more people towards poverty. Malthus subsequently concluded in saying that dependent poverty ought to be held disgraceful and the poor laws abolished. (Englander 1998; pg 9) Social reformer and laissez-faire economist Jeremy Bentham argued for a more disciplinary and corrective approach and believed in the primacy of the free competitive market in the solution of social problems. (Englander, 1998, pg 10) In 1832 in response to the pressures highlighted above a Royal Commission on the Poor Law was appointed, consisting of 9 members and several assistant commissioners ranging from economists to social reformers e.g. Edwin Chadwick. Their remit was to identify the flaws in the current poor relief system and make recommendations for a new, more cost efficient model for implementation. In the midst of this review, the first policy move against child labour occurred in the form of the Factory Act of 1833, whereby children younger than nine were not allowed to work, children were not permitted to work at night and the work day of youth under the age of 18 was limited to twelve hours. (INSERT SOURCE) After much assessment of fact and statistics in conjunction with the previous influential ideas portrayed by Malthus and Bentham the New Poor Law Report was published in 1834, that concluded the law itself was the cause of poverty. This led to the subsequent endorsement of the Poor Law Amendment Act of 1834 that focused on the ethos of instilling a work discipline whilst controlling the costs of poor relief (Pierson, 2009). In order to do this, the act placed its emphasis on putting the deterrent workhouse at its core with the guiding concept of less eligibility which would distinguish between the able-bodied pauper and the independent poor and automatically weed out the merely work- shy from the truly indigent (Brundage, 2002; pg 35). Consequently, the pauper would experience poorer conditions within the workhouse than the lowest living standards of an independent labourer. The workhouse would resemble the layout and mechanics of a correctional institution, comprising segregation (a mongst different classes), uniformity, tedious work, a controlling discipline and the bare minimum in food and accommodation. This it was hoped would ultimately deter the able bodied from applying for indoor relief in favour of finding employment to survive, whilst simultaneously improving the ethical nature of the indolent people it housed and to encourage their eventual liberation. The Act also proposed to abolish all outdoor relief, however this actually persisted to provide assistance up until the 1840s as there were insufficient workhouses built to house the inevitable increase in paupers who would not get help outside. Another key feature that remained was the guardians control of the stringent settlement laws which would help avoid a large influx of paupers from the rural villages, thus keeping costs for the urban tax payer at a manageable level. At the start of the Victorian era in 1837 the view on poverty remained as one of self responsibility and character, whereby the individual was considered responsible for his/her own actions and subsequent survival in life irrespective of the environment they were living in. This opinion gathered momentum as people continually failed to or were reluctant to find a job, thus leading to the increased dependency on the state and little or no inclination to save money as a means of supporting themselves through difficult circumstances and into their old age. This became exacerbated further by those who simply ventured down the path of petty crime, sexual immorality, idleness and insobriety, which were defects which could be overcome by discipline and new attitudes (Townsend, 1993; pg 97); and thus further supported the principles and establishment of the deterrent workhouse system. As the 1840s progressed; the guardians began to reduce the levels of outdoor relief being distributed to the able bodied poor. People were becoming shamed and increasingly aware that to be considered for relief they would be expected to perform some work tasks with a view to accessing employment, otherwise they would be faced with the harsh reality of having to enter the workhouse with their families. Subsequently, people began to recognise the emerging stigma attached to relief and would focus their efforts on finding work and other means of assistance before succumbing to the indignities of the Poor Law and the ultimate indignity of a pauper funeral (Alcock et al, 2008; pg 13). This was similarly echoed by Jeremy Bentham who argued that people did what was pleasant and would not do what was unpleasant so that if people were not to claim relief, it had to be unpleasant (Spicker, 2007; pg 148) At this time the severe measures and conditions within the workhouse system were receiving a barrage of criticism and opposition from the religious sector and workers unions which led to the review and further amendments of the Amendment Act, removing the harshest measures of the workhouses. The Andover workhouse scandal, where conditions in the Andover Union Workhouse were found to be inhumane and dangerous, prompted a government review and the abolishment of the Poor Law Commission, which was replaced with a Poor Law Board. In 1842 Edwin Chadwick wrote and published a report made the statement that sanitation After the influenza and typhoid epidemics in 1837 and 1838, Edwin Chadwick was asked by the government to carry out a new enquiry into sanitation. His report, The Sanitary Conditions of the Labouring Population was published in 1842. In the report Chadwick argued that disease was directly related to living conditions and that there was a desperate need for public health reform. Over 7,000 copies of the report was published and it helped create awareness of the need for government to take action in order to protect the lives of people living in Britains towns and cities. Sir Robert Peel and his Conservative administration were unwilling to support Chadwicks recommendations. A pressure group, the Health of Towns Association, was formed in an effort to persuade Peels government to take action. However, it was only after the 1847 General Election, when Lord John Russell became leader of a new Liberal government, that new legislation was introduced. In 1848 Parliament passed a Public Health Act that provided for the formation of a Central Board of Health. This new body had powers to create local boards to oversee street cleansing, refuse collection, water supply and sewerage systems Edwin Chadwick Sanitation Report (1842) Charitable/self help movement COS (1869) Slum clearance freeing up land for housing developers (1870) Charles Booth (class division/ income) / Seebohm Rowntree Sanitation/Environment studies Physical deterioration/health Boer War National fitness Committee on physical deterioration Settlement Houses to mix upper class in with poor communities Bibliography Alcock, C., Daly, G. and Griggs, E. (2008) Introducing Social Policy, 2nd ed., London: Longman Brundage, A. (2002) The English Poor Laws 1700-1930, Basingstoke: Palgrave Englander, D. (1998) Poverty and Poor Law Reform in 19th Century Britain, 1834-1914 From Chadwick to Booth, Harlow: Longman Kidd, A. (1999) State, Society and the Poor in Nineteenth-Century England,Basingstoke: Macmillan Royle, E. (1997) Modern Britain: A Social History 1750-1985, 2nd ed., London: Arnold Spicker, P. (1984) Stigma and Social Welfare, Kent: Croom Helm Spicker, P., Alvarez Leguizamon, S. and Gordon, D. (2007) Poverty: an international glossary, 2nd ed., London: Zed Townsend, P. (1993) The International Analysis of Poverty, London: Harvester Wheatsheaf