Profile of Prince Henry the Navigator of Portugal

Profile of Prince Henry the Navigator of Portugal Portugal is a country that has no coast along the Mediterranean Sea, only the Atlantic Ocean, so the countrys advances in worldwide exploration centuries ago may come as no surprise. That said, it was the passion and goals of one man who truly moved Portuguese exploration forward, the man known as Prince Henry the Navigator (1394–1460). Formally, he was Henrique, duque de Viseu, senhor da Covilh. Fast Facts: Prince Henry the Navigator Known For:  He founded an institute for explorers, and people from around the world visited to learn about the latest discoveries in geography and navigation technology.Born:  1394 in Porto, PortugalParents:  King John I of Portugal, Philippa of Lancaster, of EnglandDied:  1460 in Sagres, PortugalSpouse: NoneChildren: None Although Prince Henry never sailed on any of his expeditions and rarely left Portugal, he became known as Prince Henry the Navigator because of his patronage of explorers, who increased the worlds known geographic information through the sharing of knowledge and by sending expeditions to places previously uncharted. Early Life Prince Henry was born in 1394 as the third son of King John I (King Joao I) of Portugal. At the age of 21, in 1415, Prince Henry commanded a military force that captured the Muslim outpost of Ceuta, located on the south side of the Strait of Gibraltar, on the northern tip of the African continent and bordering Morocco. It became Portugals first overseas territory. On this expedition, the prince learned about gold routes and became fascinated with Africa. The Institute at Sagres Three years later, Prince Henry founded his navigational institute at Sagres on the southwestern-most point of Portugal, Cape Saint Vincent- a place ancient geographers referred to as the western edge of the earth. The institute, best described as a 15th-century research and development facility, included libraries, an astronomical observatory, shipbuilding facilities, a chapel, and housing for staff. The institute was designed to teach navigational techniques to Portuguese sailors, to collect and disseminate geographical information about the world, to invent and improve navigational and seafaring equipment, and to sponsor expeditions. Prince Henrys school brought together some of the leading geographers, cartographers, astronomers, and mathematicians from throughout Europe to work at the institute. When people returned from voyages, they brought back with them information about currents, winds- and could improve existing maps and seafaring equipment. A new type of ship, called a caravel, was developed at Sagres. It was fast and was much more maneuverable than prior types of boats, and though they were small, they were quite functional. Two of Christopher Columbus ships, the Nina and the Pinta, were caravels (the Santa Maria was a carrack). Caravels were dispatched south along the western coast of Africa. Unfortunately, a major obstacle along the African route was Cape Bojador, southeast of the Canary Islands (located in Western Sahara). European sailors were afraid of the cape, for supposedly to its south lay monsters and insurmountable evils. It also hosted some challenging seas: tough waves, currents, shallows, and weather. Expeditions: Goals and Reasons Prince Henrys expeditionary goals were to increase navigational knowledge along the western coast of Africa and find a water route to Asia, to increase trade opportunities for Portugal, to find gold to provide the trips own funding, to spread Christianity around the world, and defeat Muslims- and perhaps even to find Prester John, a legendary wealthy priest-king thought to reside somewhere in Africa or Asia. The Mediterranean and other ancient East sea routes were controlled by the Ottoman Turks and Venetians, and the breakup of the Mongol Empire made some known land routes unsafe. Thus came the motivation to find new water routes heading East. Exploring Africa Prince Henry sent 15 expeditions to navigate south of the cape from 1424 to 1434, but each returned with its captain giving excuses and apologies for not having passed the dreaded Cape Bojador. Finally, in 1434 Prince Henry sent Captain Gil Eannes (who had previously attempted the Cape Bojador voyage) south; this time, Captain Eannes sailed to the west prior to reaching the cape and then headed eastward after passing the cape. Thus, none of his crew saw the dreadful cape, and it had been successfully passed, without catastrophe befalling the ship. This was the first European expedition to sail past this point and successfully return. Following the successful navigation south of Cape Bojador, exploration of the African coast continued. In 1441, Prince Henrys caravels reached Cape Blanc (the cape where Mauritania and Western Sahara meet). The expedition brought back some blacks as exhibits of interest to show the prince. One negotiated his and his sons release by promising several slaves upon their safe return home. And so it began. The first 10 slaves arrived in 1442. Then it was 30 in 1443. In 1444, Captain Eannes brought a boatload of 200 slaves back to Portugal. In 1446, Portuguese ships reached the mouth of the Gambia River. They were the first Europeans to sail that, too. In 1460 Prince Henry the Navigator died, but work continued at Sagres under the direction of Henrys nephew, King John II of Portugal. The institutes expeditions continued to venture south, then rounded the Cape of Good Hope, and sailed to the east and throughout Asia over the next few decades. The European Age of Discovery and Its Aftereffects The 100-year period from the mid-15th century to the mid-16th is called the European Age of Discovery or Age of Exploration, when Portugal, Spain, Great Britain, the Netherlands, and France sent out voyages to previously unknown lands and claim their resources for their country. The cheapest labor to work on plantations for crops such as sugar, tobacco, or cotton were slaves, brought on a triangular trade route, one brutal leg of which was known as the middle passage. Countries that are former colonies still suffer the aftereffects today, especially in Africa, where there is poor or inconsistent infrastructure in many areas. Some of the countries just gained their independence in the 20th century. Sources Dowling, Mike. Prince Henry the Navigator. MrDowling.com. https://www.mrdowling.com/609-henry.html.â€Å"Henry the Navigator.†Ã‚  Biography.com, AE Networks Television, 16 Mar. 2018, www.biography.com/people/henry-the-navigator.Henry the Navigator.  Encyclopedia of World Biography.  Encyclopedia.com.  https://www.encyclopedia.com/people/history/spanish-and-portuguese-history-biographies/henry-navigator.Henry the Navigator Facts. YourDictionary.com. http://biography.yourdictionary.com/henry-the-navigator.History. Sagres.net. Allgarve, Promo Sangres, and Municipia do Bispo. sagres.net/history.htm.Nowell, Charles E., and Felipe Fernandez-Armesto. â€Å"Henry the Navigator.†Ã‚  Encyclopà ¦dia Britannica, Encyclopà ¦dia Britannica, Inc., 12 Nov. 2018, www.britannica.com/biography/Henry-the-Navigator.The Portuguese Role in Exploring and Mapping the New World. Library of Congress. loc.gov/rr/hispanic/portam/role.html.Prince Henry the Navigator. PBS. https://www.pbs.org /wgbh/aia/part1/1p259.html.

Giraffatitan - Facts and Figures

Giraffatitan - Facts and Figures Name: Giraffatitan (Greek for giant giraffe); pronounced jih-RAFF-ah-tie-tan Habitat: Plains and woodlands of Africa Historical Period: Late Jurassic (150 million years ago) Size and Weight: About 80 feet long and 40 tons Diet: Plants Distinguishing Characteristics: Large size; quadrupedal posture; longer front than hind legs; long, massive neck About Giraffatitan Giraffatitan is one of those dinosaurs that dances around the fringes of respectability: its existence is attested to by numerous fossil specimens (discovered in the African nation of Tanzania), but the suspicion lingers that this giant giraffe was actually a species of an existing genus of sauropod, most likely Brachiosaurus. However Giraffatitan winds up being classified, theres no doubt that it was one of the tallest (if not one of the heaviest) sauropods ever to walk the earth, with a hugely elongated neck that would have allowed it to hold its head more than 40 feet above ground level (a pose that most paleontologists think is unrealistic, considering the metabolic demands this would have placed on Giraffatitans heart). Although Giraffatitan does bear a marked resemblance to a modern giraffeespecially considering its long neck and longer front than hind legsits name is a bit deceptive. Most dinosaurs that end with the Greek root titan are titanosaursthe widespread family of thunderous, four-legged plant-eaters that evolved from the sauropods of the late Jurassic period, and were characterized by their large sizes and   lightly armored skin. Even at 80 feet long and upwards of 30 to 40 tons, Giraffitan would have been dwarfed by the true titanosaurs of the later Mesozoic Era, such as Argentinosaurus and the oddly spelled Futalognkosaurus, both of which lived in late Cretaceous South America.

Philosophy of God, Religion, and Spirituality Article

Philosophy of God, Religion, and Spirituality - Article Example The concepts are connected to God. Despite the differences in these understandings, both depict the concept of an individual may be religious but not spiritual (Berryman 67). Additionally, they both bring the understanding that a person can be both religious and spiritual in the context that religion connects to spirituality through an abstract feeling or a supernatural object that creates belief. Therefore, it is agreeable that religion defines guidelines and beliefs that its followers adhere to while spirituality defines an individual’s own reality, with direction to an object. Philosopher A is reluctant to quote that children are born with spirituality; thus, little should be done to influence their spirituality since they will bond to what society provides. On the other hand, B and I concede the necessity of upbringing children in an atmosphere where they get to understand the reasons why certain things happen in certain ways. Philosopher A espouses his position by identifying innate ability that children are born with that makes the newborn capable of identifying objects and activities or practices around them (the children or newborn). B identifies children as societal responsibility that will transform to become what they have been molded to be. From the above premises, it is certain that children are entire subjects of societal beliefs and dispositions. They often grow and become adults defined by the values the society has imparted on them. Certainly, Spirituality connects us to God through religion. Religion sets the guidelines and principles that direct an individual’s spiritual world (Berryman).

Sourcing Funds from Venture Capitalists, Creditors, Bonds & Equities Essay

Sourcing Funds from Venture Capitalists, Creditors, Bonds & Equities - Essay Example Funds are collected with some business objectives to realize the benefits of current innovations in the form of product launch, market campaigns, investments in profit making financial instruments, funding running projects with assured returns (like government projects bagged against tenders, infrastructure projects, conflict-free projects that have realized large payments prior to funding), etc. and invest the equities thus built (as an outcome of profits realized from projects) into diversifications, expansions, new Plant & Machinery purchase, new business initiatives, etc. This means that the primary objective of funding should be to invest in profit making ventures that can increase the valuation of the assets of the company and hence result in profits for the investors & in the process improve of share holder value. Faure-Grimaud and Gromb (2004. pp986-987) presented that block of funds raised by a corporation is controlled by insiders for the purpose of improving asset valuatio n of the corporation by allocating corporate resources or acquiring new resources. In the process of increasing firm's asset valuation, the shareholders increase their own wealth as well but this should be viewed more as an incentive of the shareholder's tangible value-increasing actions and not as the fundamental objective of fund raising. Amihud and Garbade et al. (1999. pp453) argued that after a company has taken the debt, a conflict of interest arises between creditors, managers and shareholders. Managers are forced by share holders to maximize their wealth and in this process may end up maximizing risk taking activities. Example, shareholders may be tempted to invest the debt (rather than equity) in high risk projects that may maximize equity at the cost of debt at the cost of overall devaluation of the company. These conflicts call for effective corporate governance which requires lot of contribution by finance managers. They have to manage the compromise between creditors and shareholders by keeping the former satisfied with the investment portfolio while controlling the wish list of the shareholders. Sources of Funds available in Europe (including Croatia) Bottazzi and Rin et al. (2002. 239-244) reported the source of long term funding in Europe (Croatia included) as the Venture Capitalist funding from Institutional Investors (includes endowments & pension funds), corporations, financial institutions (includes primarily banks, insurance companies and fund raisers from capital markets), Government and individuals. Unlike US, Europe has shown dismal maturity when it comes to venture capitalism as compared to US. This is understood from the fact that the funding contribution in US is largely by Institutional Investors (shows the maturity of US markets) but in Europe is largely from banks that control a major part of the mutual fund industry. There are many bank funded companies in Europe (having operations in

Uniforms in Public Schools Essay Example for Free

Uniforms in Public Schools Essay Since crime is a staple in almost every community, it only follows that public schools, as indispensable institutions in the community, may be vulnerable to criminal predicaments, if not inevitable victims of crime altogether. Crimes in public schools range from trivial to serious cases. According to a DPI news release, most of these crimes have something to do with possession, be of illegal substances, firearms, and explosives, or even petty alcohol (DPI, 2006). However, although not as rampant, crimes in public schools also involve robberies, as well as physical and sexual assaults. Even more alarming nowadays is the fact that public schools can also become targets of massacres or killings sprees, as was proven by the Virginia Tech incident in a CNN article dated April 17, 2007 (CNN, 2007). Thus, the current situation of public schools becomes rather alarming, and parents worry about their children who are in school. Marcus Nieto, author of Security and Crime Prevention Strategies in California Public Schools, says that the causes of school crimes vary along with different perspectives regarding the matter (Nieto, 1999). Joel Turtel, author of Public Schools, Public Menace, on the other hand, states that some consider lack of discipline in schools a primary cause, while others believe that it is lack of moral values and parental guidance (Turtel, 2005). Facts show that drug use is also a precipitant of school crime and violence, and there are those who maintain that it is due to â€Å"glorified violence† in culture and the media (Nieto, 1999). Survey shows that negligence of parents is also a contributing factor, and was also identified in a CNN poll as one of the top three causes of crimes in schools along with access to guns and the media (Nieto, 1999). Numerous strategies have already been and are being employed to prevent such crimes within schools. Such preventive measures range from simple and inexpensive to downright elaborate. Simple preventive measures include â€Å"assigning teachers in hallways, grouping troubled students in alternative schools, and requiring visitor registration (Nieto, 1999). † Other strategies involve creating a peaceful ambiance conducive to teaching and learning through â€Å"comprehensive school-safety plans, zero-tolerance policies for drugs and weapons, and community collaboration (Nieto, 1999). † More elaborate preventive measures include providing telephones for each classroom, installing surveillance systems, stationing of uniformed police officers and creating anonymous hotlines and websites through which anyone in possession of weapons and other illegal material can be reported. The U. S. Department of Education states in the Manual on School Uniforms that the increasing violence within schools prompts parents and faculty members to subscribe to the implementation of a school uniform policy (Department of Education, 1996). According to Linda Lumsden, the associate editor, and Gabriel Miller, a research analyst and writer for ERIC Clearinghouse on Educational Management at the University of Oregon, the matter of school safety is a concern that renders the idea of a dress code or uniform policy rather attractive (Lumsden Miller, 2002). However, the implementation of a uniform policy cannot possibly solve the crime problem altogether. The U. S. Department of Education furthers in the Manual on School Uniforms that â€Å"uniforms by themselves cannot solve all the problems of school discipline, but they can be one positive contributing factor to discipline and safety. † II. Presentation of Proposal A mandatory school policy may not be the entire solution for the growing levels of violence and public school crimes. However, it can contribute significantly, though indirectly, to the maintenance of a safe and disciplined environment that is conducive to learning (Department of Education, 1996). Moreover, the implementation of a dress code or school uniform policy comes along with several more benefits. The benefits enumerated by the U. S. Department of Education include: â€Å"decreasing violence and theft—even life-threatening situations—among students over designer clothing or expensive sneakers, helping prevent gang members from wearing gang colors and insignia at school, instilling students with discipline, helping parents and students resist peer pressure, helping students concentrate on their school work, and helping school officials recognize intruders who come to the school (Department of Education, 1996). † More importantly, as one parent commented at a forum regarding dress code policies via internet e-mail, uniforms can help students take school more seriously with a renewed respect for that place where they are being prepared for the future, where they will, most likely, also be required to observe a dress code. III. Summary and Rebuttal of Opposing Views Studies may have shown that no difference exists between students who are in uniform and those who are not. However, a mandatory uniform policy provides a sort of equality among students, for the same dress code will more or less reduce the superficial gap between the impoverished and the well-off. This will then lessen the pressure among students, especially adolescents, to dress in order to fit in (Middleweb, 2000). The implementation of a dress code policy may also be contested by another counter-argument, that is, a required dress code will further challenge the purchasing power of families from the poorer neighborhoods. According to the U. S. Department of Education, non-uniform outfits are usually more expensive than uniforms. According to an August 2002 article of the Wall Street Journal, the cost of uniforms range from $25-$40 per outfit (NAESP, 2002). An article from USA Today states that parents more or less spend $185 for non-uniform outfits for each child. Nevertheless, implementation of a uniform policy might still be a burden for families who cannot afford them (NAESP, 2002). Still, school districts can come up with provisions to assist those families. For instance, the school itself can provide uniforms to the students who cannot afford them (Department of Education, 1996). Community and business leaders can also provide financial assistance, and school parents can help each other provide uniforms for their children (Department of Education, 1996). The school alumni can also donate their used uniforms to the less privileged (Department of Education, 1996). IV. The Justification for the Proposal Argument A. Feasibility The implementation of a uniform dress code in public schools is highly feasible, as many school districts have already required their students to observe a dress code. Cherry Hill Elementary was the first public school to subscribe to a mandatory uniform policy (NAESP, 2002). Then Long Beach Unified School District in California followed suit in 1994 (NAESP, 2002). Since then, more and more schools have adopted uniforms. Promowear listed the top ten cities with the most schools with a uniform policy, namely: Los Angeles/Long Beach, New York, Houston, Philadelphia, Dallas/Fort Worth, Washington DC, New Orleans, Detroit, Jacksonville FL, and Atlanta (NAESP, 2002). B. Cost-Effective As a proposition of policy, the implementation of a uniform policy in public schools calls for a change in the status quo. Thus, the cost of this change must be considered. However, if the advantages are weighed against the disadvantages, the implementation of a uniform policy in public schools is cost-effective. As was mentioned above, a mandatory uniform policy comes with several benefits while the disadvantages are only minimal. Furthermore, the disadvantages comprised by the supposed repression of self-expression and additional expenses can be addressed. The U. S. Department of Education recommends that the uniform policy should not prohibit wearing â€Å"expressive items† with uniforms like pins or buttons, for instance, â€Å"so long as such items do not independently contribute to disruption by substantially interfering with discipline or with the rights of others (Department of Education, 1996). † The financial dilemmas can also be solved, as was already mentioned above. C. Does it work? The uniform policy apparently works, as many schools, both public and private, have already been observing a mandatory uniform policy for years. D. How will it be implemented? According to the U. S. Department of Education, the decision to implement a mandatory uniform policy is made by â€Å"states, local school districts, and schools (Department of Education, 1996). † Moreover, in the Manual on School Uniforms by the U. S. Department of Education, it is stated that parents and faculty members must also be involved in the evaluation on whether or not to adopt school uniforms (Department of Education, 1996). V. Moral Acceptability Since there exists an assumption that students have a right to liberty of expression, a sort of controversy springs in the midst of the idea of implementing a dress code. â€Å"Although students retain constitutional rights to freedom of speech and expression, the Supreme Court has held that these rights are limited (Madrid Garcia, 1999). † In fact, the Supreme Court has recently articulated that schools can instill students with â€Å"state sponsored values and ideals;† hence, school officials have the power to regulate expression, especially if they distract such values. Another warrant or assumption might be the aforementioned notion that uniformed students are no different from those who are not. Again, the matter of concern is not individual differences but the safety and well-being of the learning environment and the school population as a whole. VI. Conclusion A mandatory school uniform policy may not be the entire solution to the predicaments regarding crime and violence within public schools, but its positive contributions to making the school environment safe, disciplined, and conducive to learning must be considered. The adoption of a school uniform policy may entail minute disadvantages, but these can be addressed and are minimal compared to the benefits a uniform or dress code policy provides. The students only have to realize that it is for their own good. CNN. (2007). Witness survives by pretending to be dead. Retrieved April 25, 2007, from www. cnn. com/2007/US/04/16/vtech. shooting/index. html Department of Education, U. S. (1996). Manual on School Uniforms [Electronic Version]. Retrieved May 03, 2007 from http://www. ed. gov/updates/uniforms. html. DPI. (2006). Latest Annual Report on School Crime and Violence Released. from www. dpi. state. nc. us/newsroom/news/2005-06 Lumsden, L. , Miller, G. (2002). Dress Codes and Uniforms [Electronic Version]. Retrieved May 03, 2003 from http://www. naesp. org/ContentLoad. do? contentId=417. Madrid, M. J. , Garcia, E. A. (1999). STUDENT DRESS CODES: Constitutional Requirements and Policy Suggestions [Electronic Version]. Retrieved May 03, 2007 from http://www. modrall. com/articles/article_13. html. Middleweb. (2000). Some Thoughts About School Uniforms. Retrieved May 03, 2007, from http://www. middleweb. com/INCASEUniforms. html NAESP. (2002). Public School Uniforms [Electronic Version]. Retrieved May 03, 2007 from http://www. naesp. org/ContentLoad. do? contentId=929. Nieto, M. (1999). Security and Crime Prevention Strategies in California Public Schools. Retrieved May 03, 2007, from www. library. ca. gov/crb/99/12/99-012. pdf Turtel, J. (2005). Public School Prisons. Retrieved April 26, 2007, from www. homefires. com/articles/public_school_prisons. asp

Fences as Metaphor in Fences by August Wilson Essay -- essays research

As with most works of literature, the title Fences is more than just a title. It could be initially noted that there is only one physical fence being built by the characters onstage, but what are more important are the ideas that are being kept inside and outside of the fences that are being built by Troy and some of the other characters in Fences. The fence building becomes quite figurative, as Troy tries to fence in his own desires and infidelities. Through this act of trying to contain his desires and hypocrisies one might say, Troy finds himself fenced in, caught between his pragmatic and illusory ideals. On the one side of the fence, Troy creates illusions and embellishments on the truth, talking about how he wrestled with death, his encounters with the devil, later confronting the d...

Spin-Out Management: Theory and Practice Critique

Name: Yue Qi BA501 1H-Management Theory & Org-FA12 Instructor: Dr. Scott Burke Week 8(10/17-10/23)-Spin-out management: Theory and practice Critique Critique The article The Tensions of Organization Design: Optimizing Trade-offs discusses a new theory of organization design which is the tensions of organization design that managers must face and resolve. Robert Simons introduces four crises in different stages of organizational growth, including the crisis of leadership, the crisis of autonomy, the crisis of control, and the crisis of red tape.To anticipate and avoid the crises just mentioned, managers must design organizations that can adapt over time. And the author offers a number of tensions that affect organization design which we must be sensitive to the need to reconcile the tensions between: Strategy and structure, Accountability and adaptability, Ladders and rings, Self-interest and mission success. The author uses an organized thought process throughout the article that hel ps to develop a clear understanding of the subject matter.The author begins with a background of the importance of this subject and the factors that make the subject relevant in today’s environment: â€Å"New technologies have increased productive capacity, markets have become global, the pace of competition has quickened, work has become more complex, and the capabilities of workers have been enhanced. Information technology, outsourcing, and alliances have changed the traditional boundaries of the firm†. Then the article go with the negative effects an organization will encounter by doing nothing, using previous research from Greiner and Miller & Friesen.Next, the four tensions of organization design are discussed in a manner that is easy to comprehend. Each tension is given its own section that gives a background of the information that is about to be presented and the implications for organizations to tend to those tensions. A crisis of leadership emerges in an ent repreneurial structure when the leadership of founding entrepreneurs is no longer suitable for the management of a larger company and the organizational structure will change to functional structure which is based on specialization and separate business functions.Under this structure, decision making becomes highly centralized. As the firm is growing, the decision making prevents company from contact with customers and market and leads to a crisis of autonomy. Then the organizational structure will be redesigned as a decentralized structure. After the company's growth resumes, a crisis of control arises from a set of problems, such as waste of resource, decline of profit, and hampered coordination. The segment structure, which relies on the new centralized staff groups, like a new top management team, replaces the former structure.Over time, central staff groups become more powerful, leading to a crisis of red tape in which decision making slows down and a lot of time is wasted in m eetings. Therefore, the organizational structure will back to basics and cut through the bureaucracy. To avoid the crises just described, managers must always redesign organizations with changing circumstances. The second one is the tension between accountability and adaptability. There are always some imbalance problems between accountability and adaptability, like agency problem and ethic problem.For instance, top managers may focus on the accountability for today's goal to accomplish a great job while stakeholders may emphasize the adaptability for the future to retain competitiveness of the company. By using governance mechanisms, like stock-based compensation schemes or promotion tournaments and career paths, this kind of problem can be resolved. The third one is the tension between ladders and rings, namely, the tension between vertical hierarchy and horizontal networks. If an organization has vertical hierarchy, it chooses a mechanistic structure; and, an organization with ho rizontal networks has an organic structure.When managers trade off ladders against rings, they also balance differentiation and integration, centralization and decentralization, and standardization and mutual adjustment. The tension between self-interest and mission success is the last one managers should consider. The author demonstrates this problem through introducing the change of the view of human nature in organizations, and concludes that every individual in every organization makes some important decisions: Should I work toward my own self-interest, the goals of the subunit to which I belong, or the goals of the overall organization taken as a whole?If the tension is interrupted, employees may leave the organization and the organization will lose part of its workforce. Thus managers should recognize the importance of the tension between self-interest and mission-based goals to keep the advantage of human resources. In all, Robert Simmons’ work was organized in a way t hat made the information clearly understandable and that helped to engage the reader.

Economic Crisis in East Asian Country

A large economic downturn in East Asia threatens to end its nearly 30 year run of high growth rates. The crisis has caused Asian currencies to fall 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devaluations, bad banking practices, high foreign debt, loose government regulation, and corruption. Due to East Asia†s large impact on the world economy, the panic in Thailand, Indonesia, Korea, and other Asian countries has prompted other countries to worry about the affect on their own economies and offer aid to the financially troubled nations (Sanger 1). The East Asian crisis has affected almost all of the Asian ations, but the three hardest hit countries are Thailand, Indonesia, and South Korea. The panic began in Thailand in May of 1997 when speculators, worried about Thailand†s slowing economy, excessive debt, and political instability devalued the baht as they fled for market-driven currencies like the American dollar. Indonesia†s economy soon fell soon after when the rupiah hit a record low against the U. S. dollar. Indonesia is plagued by more than $70 billion worth of bad debts and a corrupt and inefficient government. Thailand and Indonesia also suffer from being overbuilt during real estate booms that Reven2 were the result of huge influxes of cash by optimistic foreign investors. South Korea faltered under the weight of its huge foreign debt, decreasing exports, and weakening currency (Lochhead 4-5). Other major countries touched by the crisis are Japan, China, Malaysia, and the Philippines. Japan†s economy is burdened by $300 billion in bad bank loans and a recession. Chinese banks may carry bad banks loans of up to $1 trillion. The banks lend 66% of China†s investment capital to state-run industries that only produce 12% of China†s industrial output (Manning 2). Malaysia and the Philippines are both faced with devalued currencies and lowered stock markets The implications of the Asian financial crisis are many. A declining Asian economy will reduce demand for U. S. and other countries† exports. The devalued currencies of East Asia will make Asian imports seen cheap and will lead to increased American imports, thus increasing our trade deficit (Lochhead 2). A worldwide banking mergency could result if the embattled Asian economies failed to pay back their loans to the U. S. and other countries (Duffy 2). If the Asian economies fall further, in a desire to raise cash, they might sell the hundreds of billion dollars of U. S. treasuries they now own, leading to higher interest rates and an American recession (Lacayo 2). An article in the Economist reported that the Asian economic turmoil and the layoffs that may result, could instigate increased discontent and possibly give rise to violent strikes, riots, and greater political instability (1-2). Reven 3 Since the financial tumult causes instability in the world market, several solutions have been proposed designed to restore the health of the Asian economy. The International Monetary Fund is offering $60 billion in aid packages to Thailand, Indonesia, and South Korea (Lacayo 1). The aid will be used for converting short-term debt to long-term debt and to keep currencies from falling lower in the world market (Passell 2). Lower currency values make repaying loans to other nations more difficult (Sanger 1 ). The aid packages are tied to measures that will ensure that the recipient countries reform their economies. Some of the measures the nations must follow are increasing taxes to decrease budget deficits, ending corruption, increasing banking regulation, improving accounting information so investors can make better decisions, closing insolvent banks, selling off inefficient state enterprises, and increasing interest rates to slow growth and encourage stability (Lacayo 3). Hopefully these market reforms will allow East Asia to improve its economic outlook. Since most of the Asian nations have balance budgets, low inflation, cheap labor, pro-business governments, and high savings rates, the long-term outlook for these countries is very good (Marshall 1). The financial crisis, instead of destroying the Asian tigers, will merely serve as a much needed lesson in debt management, orderly growth, competent accounting practices, and efficient government. Considering the size of Asias contribution to the world economy, a rapid recovery will be greatly anticipated.

Pointing Fingers

Pointing Fingers Recently I was on a chat consisting of published writers. They were bitching. They had been with publishers for years, going back before self-publishing was a serious thing. The books they had with their publishers were no longer selling well, and they wanted their rights back. The conversation turned churlish, and I just hushed. To speak up wouldve meant being turned upon, and while I can handle debate, I sensed a high level of emotional angst. So instead, I just watched and listened. Once upon a time, these authors were thrilled to be published with a traditional press. They collected royalties. They held book signings. They made money. But along came self-publishing with a roar. Many of these authors jumped on board with new books, hungry for the higher returns, no longer wanting the traditional publisher. Now, even self-publishers are hurting. So many people got on board that train that authors on both sides, traditional and indie, struggle for the income they once collected. Its called supply and demand; too many books for the same number of readers, and the new authors settle for less, never having known the higher incomes of those who preceded them. These upset authors bashed the traditional publishers, but of course, the publishers werent in the room. The  complaints were these: 1) The old books are not selling. The royalty checks are small. Therefore, the publisher is doing nothing. 2) The authors asked for their rights back to these books, with the publishers pointing out the books were still under contract, and the publisher wanted to continue selling those books. How selfish of the publisher. 3) The authors werent being heavily promoted 4) They then said, without proof, that the publisher did nothing for authors, at all. Yet I and several others remained quiet. . . those of us who were being promoted. . . but who also fought hard to self-promote. Theyd totally forgotten the joy of landing their contracts, the royalty checks they received when their work was fresh, and the promotion done on their behalf once upon a time. Theyd forgotten being chosen. Instead, the industry changed on them, and they chose to blame it on the publisher. Publishers have been victims in this industry, too. Authors now make less, but those who promote more make more. Those who write more, make more. Publishers took leaps of faith with those authors, and at the time the authors were thrilled. What they never expected was this: being indie means taking full responsibility for your creative and entrepreneurial sides. Not blaming others. Its all on the author now, and a lot of them dont see that yet.

The History of Leap Year

The History of Leap Year A leap year is a year with 366 days, instead of the usual 365. Leap years are necessary because the actual length of a year is 365.242 days, not 365 days, as commonly stated. Leap years occur every 4 years, and years that are evenly divisible by 4 (2004, for example) have 366 days. This extra day is added to the calendar on February 29th. However, there is one exception to the leap year rule involving century years, like the year 1900. Since the year is slightly less than 365.25 days long, adding an extra day every 4 years results in about 3 extra days being added throughout 400 years. For this reason, only 1 out of every 4 century years is considered as a leap year. Century years are only considered as leap years if they are evenly divisible by 400. Therefore, 1700, 1800, 1900 were not leap years, and 2100 will not be a leap year. But 1600 and 2000 were leap years because those year numbers are evenly divisible by 400. Julius Caesar, Father of Leap Year Julius Caesar was behind the origin of leap year in 45 BC. The early Romans had a 355-day calendar and to keep festivals occurring around the same season each year a 22 or 23 day month was created every second year. Julius Caesar decided to simplify things and added days to different months of the year to create the 365-day calendar; the actual calculations were made by Caesars astronomer, Sosigenes. Every fourth year following the 28th day of Februarius (February 29th) one day was to be added, making every fourth year a leap year. In 1582, Pope Gregory XIII further refined the calendar with the rule that leap day would occur in any year divisible by 4 as described above.

Tesco in the Chinese Food Retail Market Dissertation

Tesco in the Chinese Food Retail Market - Dissertation Example Most importantly, I would like to take this opportunity to express my gratitude to my parents who offer me the greatest support and encouragement. Table of Contents Table of Contents 5 List of Tables 7 List of Figures 8 1.0 Introduction 9 1.2 Research Question 13 2.0 Literature Review 14 2.3.1 PEST 21 2.3.2 SWOT 26 2.3.3 The Five Forces 27 2.4 Sustainable competitive advantage 32 2.5 Factors influencing strategies for achieving a competitive advantage in China 35 3.0 Methodology 40 4.0 Result 51 4.1 Carrefour Supermarkets 54 Organisation Overview 54 Operations and Business Strategy 55 Domestic Competition 57 Competitive Advantage 58 4.2 Wal-Mart 58 Organisation Overview 58 Operations and Business Strategy 59 Domestic Competition 60 Competitive Advantage 60 5.0 Discussion 62 Organisation Overview 62 Operations and Business Strategy 63 Domestic Competition 65 Competitive Advantage 65 6.0 Conclusion 68 7.0 References 70 List of Tables Table 1. The amount of sales and the amount of chain stores of Carrefour in China Page 33 List of Figures Figure 1.0 Porter's Five Forces Model (Porter 2001). Page 20 1.0 Introduction China's admittance into the World Trade Organisation (WTO) in 2001 opened up the Chinese market to the rest of the world. From the end of 2004, the Chinese government began lifting restrictions on foreign retailers, which enabled retail operations that were 100% foreign owned to operate (LaSalle 2005, Chen 2006, Tao 2006). This opportunity was obviously seized upon by retailers like Tesco, Carrefour and Walmart who dominate the foreign-owned food retail market. The Chinese market is particularly attractive as it is not... Introduction China’s admittance into the World Trade Organisation (WTO) in 2001 opened up the Chinese market to the rest of the world. From the end of 2004, the Chinese government began lifting restrictions on foreign retailers, which enabled retail operations that were 100% foreign owned to operate (LaSalle 2005, Chen 2006, Tao 2006). This opportunity was obviously seized upon by retailers like Tesco, Carrefour and Walmart who dominate the foreign-owned food retail market. The Chinese market is particularly attractive as it is not homogenous and encompasses numerous target markets which represent purchasing power for retailers. This is particularly true of the markets based in the urban areas, as it is reported that there is an income disparity between rural and urban customers. The urban per capita income is three times more than that of rural areas (LaSalle 2005, Chen 2006, Tao 2006), which presents profit to the food retailers. The opening up of the markets in China has also introduced competitive advantage to the Chinese market. Prior to 2004, foreign owned companies had to form joint ventures with Chinese companies and were limited to owning a 65% stake in the business (LaSalle 2005, Chen 2006, Tao 2006). They also had restrictions on the number of stores that could be opened in a geographical region, which gave the domestic retailers a competitive advantage. Domestic retailers had access to the entire Chinese market, and as a result they also had the monopoly on the knowledge.