Is Having a Sibling a Blessing or a Curse?

I am sure that most of you have brothers or sisters. And I am sure that this same thought must have occurred to you at one time or another. How many of you have lost your toys, clothes or something that you loved very much to your brother or sister? How many of you wish that you were the only child of the family? Welcome to the world of siblings. From the moment our parents announce that there is to be a new baby in the family, we are expected to go through a lot of adjustments.The first and foremost is sharing. Sharing of our dear parents, our rooms, our toys, our favorite foods and so on. The second is comparison. The parents, teachers and sometimes even relatives start to compare the siblings. The comparison may be regarding our character, behavior, studies, coloring etc. The often repeated words in many houses is â€Å"Why can’t you be like your brother or sister? See how good they are. You should learn from them. † The third is favoritism. Many parents have a favor ite child.It may be because they remind them of their favorite person, like their parents or siblings. Or maybe because that child loves them unconditionally. However, this causes the less loved child to regard the other as a rival. One of the favorite things our siblings like to do is to find out and tell our secrets to the very people we try to keep it secret from. They like to boast their own achievements and put down ours. But, not everything about having a sibling is bad. They are generally there for us when we need them.We can always depend on them when we are in some difficult situation. They sometimes save us from punishments and retributions, if they feel sorry for us. Of course they might need a bribe or some sort of favor after-wards. If your sibling is older than you, he/she would have paved the way for you in school, tuition and sports. If they are younger than you, you can and probably will boss them around and make them do what you want. There is a Chinese proverb tha t translates as â€Å"You don’t realize the value of a thing until you lose it. All of you are doing your A levels next year. After that most of you will leave the country for higher studies. This means you will be alone, without your family in some unknown location for 4 or 5 years. And I am sure that even though you will miss your parents, you will miss your siblings more. You will miss the shared space, shared confidence and secrets that united you. So I sincerely hope that you will enjoy your blessings while you can and treat your siblings better.

Food Security in the Modern World: changing market policies to address hunger

The right to food is protected under international human rights and humanitarian law. It is recognized in the Universal Declaration on Human Rights and the International Covenant on Economic, Social and Cultural Rights (ICESCR). As defined by the Committee on Economic, Social and Cultural Rights (Committee on ESCR) in its General Comment 12 â€Å"†¦ the right to adequate food is realized when every man, woman and child, alone and in community with others, has physical and economic access at all times to adequate food or means for its procurement† (General Comment 12, 1999, paragraph 6).Israel produces 95% of its own food requirements, and has many advanced means of agriculture, which results in low poverty rates in the state. Diverse agricultural techniques are used for food production, and in irrigation alone there are four different methods. Farmers use technology to help them with livestock creating top quality produce, and small communities called Kibbutz help the Gro ss Domestic Product (GDP) and raised amount in exports.There are multiple research facilities that help with agriculture techniques, such as the Agricultural Research Organization (ARO), whose job is to help the development of the Israeli agriculture by an efficient use of the limited water resources, development of crops for export markets, ensuring a decent income for the farming community, developing and adapting crops and technologies for newly settled regions without polluting the environment. Israel has also been sharing its agricultural expertise with many of countries since the late 1950s.MASHAV, the Center for International Cooperation of the Ministry of Foreign Affairs, is active in Asia, Africa, the Mediterranean Basin, Eastern Europe and Latin America as well as several Middle Eastern countries. Agricultural projects and research collaboration constitute about half of Israel's international cooperation programs. Emphasis is placed on training courses in agricultural subj ects, with some 1,400 participants from over 80 countries attending specialized courses in Israel every year, and thousands of trainees receiving on-the-spot training in their own countries. Read also Analyze the Ways in Which British Imperial PoliciesSince 1958, thousands of Israeli agricultural experts have been sent abroad on long- and short-term assignments in countries such as Kenya, South Africa, China, Russia, Kazakhstan, Ukrain and Haiti. Hunger world-wide has had a high of 925 million in 2010 and had dropped by 10%. But with the recent rising food prices, the number of malnourished is growing once again pushing 68 million people under the World Bank’s extreme poverty line. This is defined as someone living on $1. 25 (U. S. ) a day.The World Bank’s quarterly report showed that the food price index has increased by 29% in the past year and is close to the peak reached in 2008, when soaring food prices sparked protests in dozens of countries. We are seeing this happen once again is countries such as Tunisia, Egypt, Libya and others. The result in the raised food prices is 44 million people living in dire poverty. This is about a 3% increase in the tot al number of people living in extreme poverty, which the World Bank calculates at about 1. billion. Israel can help countries who are having trouble with the food inflation. A strategy such as developing local markets and local communities so that people can grow their own food is one which Israel can help with. Some countries may even want to use the Israeli Kibbutz as a model if they so wish. With Israel’s abundant technology, we can offer help in that department, and can help with many different topographical locations as Israel has many itself.

Rebuttal of an Evaluation Essay Example | Topics and Well Written Essays - 750 words

Rebuttal of an Evaluation - Essay Example Leonard Pitts appeal to the logos of the audience through his ability to induce a logical response in the audience as he provided some reasonable analysis on how the 9/11 terrorist attack ultimately took the innocence of Americans away from them. Leonard Pitts’ ability to draw some historical comparison with the September 11 terrorist attack is another way that he appeals to the logos of the reader. Another way that the author persuaded the audience was in his appeal to their pathos. Pitts integrates some emotions in his article as he makes use of stunning and distinctive language that would appeal to the emotions of any audience any day any time. The author’s appeal to the emotions of the reader could be seen in the first paragraph, when he says that, â€Å"But there had not, since Watergate, been a true crisis, no event of the kind that shakes a nation, that stops it cold and takes its breath and makes it anxious about its future.† (Pitts par.1). This strong st atement brings the audience to the realization that the 2011 terrorist attack is one of the most devastating events in the history of the US in recent times. Thus, Leonard Pitts successfully appeals to the pathos of the reader as their emotions have been acted upon by Leonard Pitts as he evokes the fear of insecurity in them as he makes them know that their innocence has been taken away from them. Though, most of the things the author wrote about are known facts, but the fact that the author did not relate them to some credible sources shows his failure to the appeal to the ethos of the reader. Thus, for readers that do not know the ‘facts’ that the author presented, they might actually doubt the authenticity of his report. Thus, Leonard Pitts did not really appeal to the ethos of the reader. Rhetorical analysis on Timelines" by Lewis Lapham Timelines by Lewis Lapham is also an article that the author uses some strategies to persuade the audience by appealing to their l ogos, pathos and ethos. Lewis Lapham brilliantly appeals to the readership as he tries to persuade the audience on the need to learn more about the history of America. Lapham’s appeal to logos is clearly seen when he was trying to see the dearth of knowledge in the history of America as 22,000 students were questioned about the history of America. Lapham also gave succinct reasons to the students’ lack of knowledge in the history of America as he claims that the students of America had performed poorly in recent years. It is therefore not unusual for students that have performed poorly in other subjects to also perform poorly in the history of America. Lapham’s appeal to the emotions (pathos) of the reader could also be seen when he says that, â€Å"If we no longer hold the study of history in such passionate regard, it's because we like to think of our political institutions as monuments or museum pieces, completed works in a past tense, and if American school children believe that Squanto is a rock group, it's because they live in a society that thinks of history as ornament and stage design-a subject fit for interior decorators and best rendered as a theme park.† (Lapham par.4). Lapham also appeals to the pathos of the audience by claiming that the dwindling economic fortune of the country is due to the failure of Americans to learn their history as he

Leadership Exhibition (Mahatma Ghandi Coursework

Leadership Exhibition (Mahatma Ghandi - Coursework Example Gandhi left for London in 1888 to pursue law. He graduated three years later and went to South Africa to work as a lawyer. After staying in South Africa for twenty-one years, Gandhi went back to India. No one knows who killed him or why he was killed but he was eventually shot or assassinated one evening while going for evening prayers. Mahatma Gandhi the lawyer Accesed 6 March 2013, from http://binscorner.com/pages/l/life-in-pictures-mahatma-gandhi.html The life of Mahatma was an extraordinary life. He poked at the ancient Hindu religion, culture, and modern revolutionary ideas about politics and society (Kumar, 2008:65). An unusual combination of perceptions and values. Gandhi’s life was full of contradictions. He was portrayed as a gentleman and people saw him as a god and a mystical person. Additionally Gandhi was a man of great determination. This report therefore seeks to demonstrate that good leadership can be assembled not only through the usual cunning game of politic al maneuvers but through the cogent example of a morally superior conduct of life Charismatic leadership style of Mahatma Gandhi Mahatma Gandhi preaches to a group of people. Accesed 6 March 2013, from http://binscorner.com/pages/l/life-in-pictures-mahatma-gandhi.html Gandhi is generally considered as one of the most influential world leaders, and today’s leaders should follow Mahatma Gandhi’s footsteps. As such, scholars have considered his leadership style as charismatic. First, Gandhi was a very wise man and so should every leader be. Through his wisdom, he managed to gather followers and caused changed without use of any external power. This utilization of wisdom is evident when Gandhi realized that India had an inferior army compared to that of the British army (Vanderhook, 2011:10). With so much passion to liberate India, Gandhi opted for a non-violent resistance method by leading a massive non riot campaign to boycott British products (Rivera, 2007:23). Unlike o ther leaders who would have asked for military help from neighboring countries, which would have definitely led to war. Second, Gandhi had a set mind or determination and he targeted India’s independence as his main goal. He strategically and humbly challenged the British colony until he finally achieved his goal by freeing India from British colonial rule. It took a long time but Gandhi’s wish came to pass. Contrary to other leaders who do not have progressive plans for their people or country, leading to lack of economic growth and prosperity in general. Third, Gandhi taught people about their basic and constitutional rights (Rivera, 2007:31). This was when he went to South Africa to work as a lawyer and realized that Indians living in the country were very oppressed and discriminated. Gandhi, being a courageous leader performed his role of teaching the Indian migrants about their rights as foreigners. Not all leaders’ posses this kind of boldness because most leaders restrain themselves from such matters for fear of persecution. Mahatma Gandhi gives a speech. Accesed 6 March 2013, from http://binscorner.com/pages/l/life-in-pictures-mahatma-gandhi.html The other note is that a leader should be honest not only to his people, but also to himself or herself. Gandhi demonstrated this modesty when he did not talk to his wife

Eukaryotic and Prokaryotic cells Essay Example | Topics and Well Written Essays - 500 words

Eukaryotic and Prokaryotic cells - Essay Example DNA as we know tells us about our family structure and passes on from one generation to another. The large number of cells and their network helps in differentiating the DNA structure. The DNA keeps of replicating with the help of template polymerization. The Eukaryotic and Prokaryotic cells are made up of similar basic chemicals like carbohydrates, proteins, nucleic acid, minerals, fats and vitamins, while making use of proteins as catalysts. The hereditary information is transformed into RNA, which in turn is translated into proteins. Therefore these two cells are similar in nature in many respects. But, there are a number of features which differentiate these two types cells from each other. One of the major distinctive feature is that the Prokaryote is without a nucleus, therefore the DNA keeps floating around in an unorganized manner in the cells. But on the other hand, the Eukaryote cells have a large centrally located nucleus, surrounded by double layer of membrane known as nuclear envelope. This envelope contains nucleoplasm. The DNA is held within this nucleus only. The nucleus being the centre of activities is also termed as brain of the cell. Prokaryotic cells do not have the organelles, but Eukaryotic cells have organelles which allow them to perform more complex functions. Both these cells differ in respect of their size as well.

HR plans and the organizational context Essay Example | Topics and Well Written Essays - 2750 words

HR plans and the organizational context - Essay Example HR management can play a role in identifying and analyzing external opportunities and threats that may be crucial to the company's success. It is in a unique position to supply competitive intelligence that may be useful in the strategic planning process. The HR function needs to be treated as a line function. HRM first reared its head in the 1980's with increased globalization of markets and intensified competition (Sisson, 1989, 1990; Blyton and Turnbull, 19941). The globalization of markets was facilitated by an IT- induced communication system and the diversification of the labor market. The international division of labor coupled with the rise and growth of multinational companies saw the emergence of Human Resource Management as a new and key factor in organizational success (Nolan and O'Donnel, 1991)2. HRM is an offshoot of Personnel Management and deals with the practice of identifying and placing the 'right people' people into the 'right' into jobs. Thus the basic gist of HRM lies in tying individual employee empowerment with organization development (Glueck, 1974). 3 The main dimensions of HRM involve the goal of integration (i.e. ... the use of planning a coherent approach in the design and management of personnel systems as an employment policy and manpower strategy, and often underpinned by a philosophy matching welfare and management activities and policies to an explicit business strategy, and seeing the people of the organization as a strategic resource for achieving competitive advantage. Guest in 1987 5outlined the main components of HRM: The main dimensions of HRM involve the goal of integration (i.e. human resources can be integrated into strategic plans, if human resource policies cohere, if line managers have internalized the importance of human resources, and this is reflected in their behaviour and if employees identify with the company, and then the company's strategic plans are likely to be more successfully implemented), the goal of employee commitment, the goal of flexibility/ adaptability (i.e. organic structures, functional flexibility), the goal of quality (i.e. quality of staff, performance, standards and public image. In a nutshell, HRM encompasses all the essential nitty- gritty details which build the foundation of an organization. But HRM should not be considered in a 'stand alone context.' According to Rao, 2001, HRM today ought to be taken in conjunction with external market, labor and media forces. HRM is heavily influenced by socio- economic and political policies shaping the industrial workplace. In addition, HRM also has to consider internal organizational corporate climate. Thus, HR executives don many hats dealing effectively with many influences to get the best performance from employees. Thus, HRM is not only about profits and productivity. It is about understanding employees. HRM in today's global society is concerned with employee empowerment to

Management Is Doing Things Right; Leadership Is Doing The Right Things Essay

Management Is Doing Things Right; Leadership Is Doing The Right Things - Essay Example His distinction between management and leadership has been a popular topic for debate for several years now.Leadership acts as a tool in settling on the best course of action to take- what are the things that should be done to reach our targets? But according to Drucker’s philosophy, leadership is strong and successful when the leader thinks through questions like ‘Of those things that would make a difference, which are right for me? By ‘doing the right things’, he meant that effective leadership is considering the company’s mission, describing it and openly establishing it. It is a leader’s job to set clear goals for the company and define the standards needed to be maintained while achieving the goals. Being aware that he is not in control of the universe, he has to make compromises. This, however, he does once he has thought of the right and the desirable. Drucker defines leadership as mundane, unromantic and boring. Its essence lies in perf ormance. Effective leaders keep on checking their performance against the achievement of their goals. This practice helps them to analyse their choices and decide on what is important and needs immediate attention. It also assists them in identifying their strengths and recognizing their weaknesses. Regarding this, Drucker says: ‘I have seen a great many people who are exceedingly good at execution, but exceedingly poor at picking the important things. They are magnificent at getting the unimportant things done. They have an impressive record of achievement on trivial matters.’ Setting the right kind of goals plays a significant role in developing a successful leader. It is of extreme importance to set realistic achievable goals which fit in with the overall mission, keeping in mind the external constraints such as political, economical, and financial and internal constraints such as the current resources available and the interpersonal issues. In accordance with this s tatement of his, lies the aspect of responsibility within leadership. Rank and privilege is not the core to leadership. It is, in fact, the sense of responsibility that the leader feels and exhibits that represents strong and reliable leadership. Hence, a successful leader is one who takes initiative to tackle a task and uses the given resources optimally to derive maximum benefit. Drucker claims America’s chief of army staff in World War II, General George Marshall, became a productive leader through responsibility and diligence. Such kinds of leaders do not fear the self-determined subordinates. Instead, they encourage their juniors, assisting them to reach their potential and accomplish all that they are capable of. Being ambitious for a leader is far smaller a risk than being mediocre. An effective leader is also aware of the consequence that organizations face in case of the leader’s impeachment. In regard to this, Drucker rightly says: ‘An effective leader knows that the ultimate task of leadership is to create human energies and human vision’ Drucker at one point stresses over the effectiveness that every leader is expected to possess. Be it in a government agency, a hospital, a business, a labour union, a university or army, a leader seems to bear high intelligence and imagination only seconds it. Yet he lacks the vital link between his effectiveness and his intelligence, imagination or knowledge. However, many leaders come in contact with the dangerous near successes traps which usually revolve around the mindset

Children and video games Essay Example | Topics and Well Written Essays - 500 words

Children and video games - Essay Example The violent content of video games is the cause of the negative influence they have on children. This makes children to develop aggressive behavior, including vengeance. Violent games provoke social exclusion of children, as they will not spare time for homework and interaction with friends. This also affects their health negatively. Children spend more time at home. Video games do not inculcate positive social values in children Video games do not encourage negotiations and nonviolent solutions in children.Video games portray women as weaker sex and sexually provocative. Video games make children live in a fantasy world and they do not think about their future.Children might fail to do their assignments, thus become lazy, and develop issues with teachers in school.Video games result in poor academic performance, due to their addictive nature.Video games might lead to impulsive behavior and concentration challenges. Video games require skills and tactics to play, thus develops child’s brain. Mental skills such as problem-solving, critical thinking, fine motor, and spatia. If a parent plays with the child, they bond more.Video games increases interactivity and creativity in children. Video games enhance self-esteem and confidence.Playing as a group boosts coordination in children.Since video games have considerable benefits, if allowed they should be controlled.Provide a variety of entertainment to children to avoid addiction to video games.Regulate the amount of time children play video games.

What is the Oxford English Dictionary Essay Example | Topics and Well Written Essays - 1250 words

What is the Oxford English Dictionary - Essay Example It was first published approximately 150 years back. Since then it has been continuously revised at regular intervals (About). In 1857 the members of Philological Society of London determined that the dictionaries of English Language were incomplete and required a lot of re-examination starting from the Anglo-Saxon times. In 1879 the Philological Society made a contract with James A. H. Murray and the Oxford University to initiate the process of developing English Dictionary. Murray and his colleagues examined the words of English Language from the last seven centuries (History of the OED). The working team thought that it will take around ten years in completing the project. However, the English words kept on evolving and the process took more years than actually anticipated. Murray and his team published the first version of Oxford English Dictionary in 1884 but it was clearly evident that much more work was left to be done. Later on other editors joined the team including W.A. Craigie, Henry Bradley, and C.T. Onions. The new team worked steadily and published the final volume in April 1928 with more than 400,000 words (History of the OED). There were several reasons for the publication of Oxford English Dictionary. Early modern period changed the English language since the words used were immensely increased during 1500 to 1650. Words were also taken from Greek and Latin languages which necessitated the development of profound English Dictionary. Moreover, the world was undergoing serious demographic changes such as the shifts from rural to urban areas (Simpson). This subsequently increased the publication of books and other relevant material. Eventually the grammar schools were established which pushed the authorities to revise the English Dictionary. Apart from this the monolingual dictionaries were preceding around the globe while on the other hand the Latin-English Dictionaries were also

Foreign Born American Writers Essay Example for Free

Foreign Born American Writers Essay American literature has changed and evolved from the early colonial days to develop characteristics that are unique and which identify it from other literary works. Several writers have contributed to the development of American literature. Some of these writers immigrated into the United States and their works were accepted into the American literary canon. Some of the notable foreign born American writers include Vladimir Nabokov, Isaac Bashevis Singer, and CzesA‚aw MiA‚osz (Czeslaw Milosz). Vladimir Nabokov was born in Russia in 1899 and moved to the United States in 1940 together with his family. Nabokov produced both fiction and non-fiction works including novels, short stories, drama, poetry, and some translations. Among his works is his 13th novel titled Pnin published in 1957 and built around the life of a Russian professor who moves into the US as a refugee and the challenges that the professor encounters in a new world (Boyd 271-287). Isaac Singer was a Jewish American author born in Poland and was the 1978 Nobel Prize winner in literature. Among his many collections is Gimpel the Fool and other Stories published in 1960. It has twelve short stories with a mix of contemporary and folk legend aspects and heavily based on Jewish life in Poland (Kirkus). Born in 1911 Poland, Czeslaw Milosz became an American citizen in 1970. Milosz is known for his poetry, essays, prose, and translations. He was the Nobel Prize winner in 1980 for his literary works. His A Magic Mountain poem reflects his personal experiences of living in Berkeley, CA (Kirkus). The three writers have received various recognitions for their contribution to the American literature. Each of the writers has written about his life experiences in the US depicting the differences and the challenges of adapting to a new world. References Boyd, Brian. Vladimir Nabokov: The American Years. Princeton, NJ: Princeton University Press. 1991. Kirkus Rev. of Bells in Winter by Czeslaw Milosz. New York, NY: Ecco Press (1978). 2010. 5 May 2010. http://books. google. co. ke/books? id=THVhAAAAMAAJsource=gbs_book_other_versions Kirkus Rev. of Gimpel the Fool and other Stories by Isaac Singer. New York, NY: Farrar, Strauss, and Giroux. (1960). 2010. 5 May 2010. http://books. google. co. ke/books? id=yZJnPwAACAAJdq=isaac+bashevis+singer+gimpel+the+foolsource=gbs_book_other_versions

Capital structure and approaches to capital structure

Capital structure and approaches to capital structure It is defined as the mix or proposition of a firms permanent long-term financing represented by debt, preference stock, and common stock equity. Capital structure theory suggests that firms determine what is often referred to as a target debt ratio, which is based on various tradeoffs between the costs and benefits of debt versus equity. The term capital structure refers to the percentage of capital (money) at work in a business by type. Broadly speaking, there are two forms of capital: equity capital and debt capital. Each has its own benefits and drawbacks and a substantial part of wise corporate stewardship and management is attempting to find the perfect capital structure in terms of risk / reward payoff for shareholders. This is true for Fortune 500 companies and for small business owners trying to determine how much of their startup money should come from a bank loan without endangering the business Lets look at each in detail: Equity Capital This refers to money put up and owned by the shareholders (owners). Typically, equity capital consists of two types: 1) contributed capital, which is the money that was originally invested in the business in exchange for shares of stock or ownership and 2)  retained earnings, which represents profits from past years that have been kept by the company and used to strengthen the  balance sheet  or fund growth, acquisitions, or expansion. Many consider equity capital to be the most expensive type of capital a company can utilize because its cost is the return the firm must earn to attract investment. A speculative mining company that is looking for silver in a remote region of Africa may require a much higher  return on equity  to get investors to purchase the stock than a firm such as Procter Gamble, which sells everything from toothpaste and shampoo to detergent and beauty products. Debt Capital The debt capital in a companys capital structure refers to borrowed money that is at work in the business. The safest type is generally considered long-term bonds  because the company has years, if not decades, to come up with the principal, while paying interest only in the meantime. Other types of debt capital can include short-term commercial paper utilized by giants such as Wal-Mart and General Electric that amount to billions of dollars in 24-hour loans from the capital markets to meet day-to-day working capital requirements such as payroll  and utility bills. The cost of debt capital in the capital structure depends on the health of the companys balance sheet a triple AAA rated firm is going to be able to borrow at extremely low rates versus a speculative company with tons of debt, which may have to pay 15% or more in exchange for debt capital. Other Forms of Capital There are actually other forms of capital, such as  vendor financing  where a company can sell goods before they have to pay the bill to the vendor, that can drastically increase return on equity but dont cost the company anything. This was one of the secrets to  Sam Waltons success at Wal-Mart. He was often able to sell Tide detergent before having to pay the bill to Procter Gamble, in effect, using PGs money to grow his retailer. In the case of an insurance company, the policyholder float represents money that doesnt belong to the firm but that it gets to use and earn an investment on until it has to pay it out for accidents or medical bills, in the case of an auto insurer. The cost of other forms of capital in the capital structure varies greatly on a case-by-case basis and often comes down to the talent and discipline of managers. SEEKING THE OPTIMAL CAPITAL STRUCTURE Many middle class individuals believe that the goal in life is to be debt-free. When you reach the upper echelons of finance, however, that idea is almost anathema. Many of the most successful companies in the world base their capital structure on one simple consideration: the cost of capital. If you can borrow money at 7% for 30 years in a world of 3% inflation and reinvest it in core operations at 15%, you would be wise to consider at least 40% to 50% in debt capital in your overall capital structure. Of course, how much debt you take on comes down to how secure the revenues your business generates are if you sell an indispensable product that people simply must have, the debt will be much lower risk than if you operate a theme park in a tourist town at the height of a boom market. Again, this is where managerial talent, experience, and wisdom comes into play. The great managers have a knack for consistently lowering their  weighted average cost of capital  by increasing productivity, seeking out higher return products, and more. To truly understand the idea of capital structure, you need to take a few moments to read Return on Equity: The DuPont Model  to understand how the capital structure represents one of the three components in determining the  rate of return  a company will earn on the money its owners have invested in it. Whether you own a doughnut shop or are considering investing in publicly traded stocks, its knowledge you simply must have. Question on our minds: Can the total valuation of a company (debt+equity) and the cost of capital be affected by changing the financing mix. The imperfections in the market play a vital role in the valuation of a company. This data is of utmost importance to the suppliers of capital. Changes in the financing mix are assumed to occur by issuing debt and repurchasing common stock or by issuing common stock and retiring debt. Example 1. Assume a company whose earnings are not expected to grow and which pays out all of its earnings to its shareholders in the form of dividends. All kinds of market imperfections are not considered in the current example, for simplicity in calculations. We are concerned mainly with 3 different rates of return. The first is The yield on companys debt, ki = = The second rate of return that we are concerned with is ke = = With our assumptions that the firms earnings are not expected to grow and which has a 100 percent dividend payout, the firms earning per price represents the market rate of discount that equates the present value of the perpetual stream of expected constant future dividends with the current market price of the common stock. The third rate to be calculated is ko = = These 3 different rates of return affect the amount of financial leverage, which is the debt to equity ratio. ko is defined as the overall capitalization rate of the firm. It is designed as the weighted average cost of capital, and can also be expressed as ko = ki [] + ke [] Calculating A Companys Capital Structure Review your companys most recent financial statements to find all of the capital components. Highlight all of the debt of the company and the equity (including common and preferred shares, capital contributions and retained earnings). Add up the total debt and equity It will be equal to your companys assets on the balance sheet because the debt and equity is what paid for those assets. Your capital structure is the percentage that each funding source represents of your companys total funding. Lets look at an example. Lets say you have the following capital components: bank loan $176,500, retained earnings $54,300, common stock $12,500. That makes your total capital $243,300. To calculate your capital structure, take the dollar amount of each capital source and divide it by the total capital. In the above example, the bank loan is 72.5%, retained earnings 22.3%, capital stock 5.2% for a total of 100%. Monitor your companys capital structure over time. Debt tends to be the most expensive source of capital and, over time, you will determine the most effective blend of debt versus equity financing for your particular situation. Calculating your actual capital structure will allow you to track how closely you are following your ideal capital structure. Factors Affecting Capital Structure The factors that affect the decisions taken regarding capital structure can be divided into three major types: Internal Factors External Factors General Factors INTERNAL FACTORS Cost of Capital The cost of capital is the cost of the companys funds. It consists of debts and equity. When a company raises funds for its operations there are certain costs involved. When decisions regarding the capital structure are taken, managers ensure that the earnings on the capital are more than this cost of capital. In general, the cost of borrowing capital is less than the cost of equity capital. This is because the interest rate on loans and borrowings is less than the dividend rates and also the dividends are a function of the companys profits and not expenditure. Risk Factor When decisions regarding capital structure are to be taken, the risk factors considerations are an important issue. If company raises its funds through debts, the risks involved are of two types: The company has to repay the lenders in a fixed time period and at a fixed rate, whether or not the company makes profit or goes into loss. The borrowed capital is secured capital. Hence, if the company fails to make the payments, the lenders can take possession of the companys assets. If the company goes for funds through equity capital there are minimum risks. As the dividends are an appropriation of the companys profits, if it does not make any profit, it is not obliged to make the payments. In contrast to debt capital, here the company is not expected to repay its equity capital. And also the equity capital is not secured. Control Factor When additional funds are to be raised, the control factors are very essential in deciding the capital structure of the company. When a company decides to issue further equity shares the control of the company may be at stake. Hence, it may not be acceptable to its shareholders and owners. This factor is not vital in case of debt financing, except when financing institutions stipulate the appointment of nominee directors in the Board of Directors of the company. Objects of Capital Structure Planning They are- Maximize profit of the owners Issue transferable securities Issue further securities in a way that does not dilute the holdings of the present owners EXTERNAL FACTORS General Economic Conditions: If the economy is in the state of depression, equity funding is considered as it involves less risk. While, if the economy is booming and the interest rates are forecasted to fall, debt funding is given preference. Interest Rate Levels: If the interest rates are high in the capital market, equity funding is preferred until the interest rate levels fall down. Policy of Lending Institutions: If the terms and policies of the financing institutions are rigid and harsh, debt financing should be ignored and equity financing should be tapped. Taxation Policy: The government has taxation policies which include corporate taxes as well as individual taxes. The government includes individual taxes on both borrowings as well as dividends. Also income tax deductions are offered on interests paid on borrowings. All these factors have to be considered while planning capital structure. Statutory Risks: While planning Capital Structure, the statutory risks given by the Government and other statutes are to be considered. GENERAL FACTORS Constitution of the company: If the company is private limited, the control factors are essential while if the company is public limited, the cost factors are essential. Characteristics of the company: Companies which are small and in the early stage have weak credit standings and bargaining capacity, hence they have to rely on equity financing. While big companies have strong credit standings and they can source their funds from borrowings with acceptable interest rates. Stability of earnings: The companies which have stable earnings and the risks involved are less, go for debt funding as they can handle the high risk factors. While companies whose earnings are forecasted to be fluctuating, usually go for less risky equity funding. Attitude of the Management: For a company with conservative management, the control factor is more important, while a company with a liberal management considers the cost factors to be more important. Approaches to Capital Structure Net Operating Income Approach Traditional Approach Net Income Approach Modigliani Miller Approach Net Operating Income Approach David Durand proposed the net income approach to capital structure. This approach looks at the consequence of alterations in capital structure in terms of net operating income. Under this approach, on the basis of net operating income, the overall value of the firm is measured. Therefore this approach is identified as net operating income approach. The NOI approach entails that: Largely the value of the firm does not depend on the degree of leverage in capital structure and hence whatever may be the change in capital structure the overall value of the firm is not affected. In the same way, the overall cost of capital is not affected by any change in the degree of leverage in capital structure. The overall cost of capital is independent of leverage. Under the net income approach, the overall cost of capital is unaffected and remains constant irrespective of the change in the ratio of debts to equity capital when the cost of debt is less than that of equity capital whereas it is assumed the overall cost of capital must decrease with the increase in debts. How is this assumption justified? With the increase in the amount of debts the degree of risk of business increases. As a result the rate of equity over investment in equity shares thus on one hand the WACC decreases with the increase in the amount of debts; on the other hand cost of equity capital increases to the same tune. Therefore the benefit of leverage is mopped away and the overall cost of capital remains at the same level. In other words there are two parts of the cost of capital. Interest charges on debentures. The increase in the rate of equity capitalization resulting from the increase in risk of business due to higher level of debts. OPTIMUM CAPITAL STRUCTURE This approach suggests that whatever the degree of indebtedness of the company, market value remains constant. Despite the change in the ratio of debt to capital in the market value of its equity shares remains constant. This means that there is no optimal capital structure. Each capital structure is optimal in approach of net operating income The market value of the firm is determined as follows:   The value of equity can be determined by the following equation and   The Net Operating Income Approach is based on the following assumptions: Example: ABC Ltd., is expecting an earnings before interest tax of Rs.1,80,00,000 and belongs to risk class of 10%. You are required to find out the value of firm % cost of equity capital if it employs 8% debt to the extent of 20%, 35% or 50% of the total financial requirement of Rs. 90000000. Solution Statement showing value of firm and cost of equity capital   20% Debt 35% Debt 50% Debt Earnings before interest tax EBIT ($) 18000000 18000000 18000000 Overall cost of capital 10% 10% 10% Value of firm (V) = EBIT Cost of Capital{EBIT/Cost of Capital} 180000000 180000000 180000000 Value of 8% debt (D) 18000000 (20% ÃÆ'- 90000000) 31500000 (35% ÃÆ'- 90000000) 45000000 (50% ÃÆ'- 90000000) Value of equity (V D) 162000000 148500000 135000000 Net profit (EBIT Interest) 16560000 (18000000 1440000) 15480000 (18000000 2520000) 14400000 (18000000 3600000) (Cost of equity (Kc) 10.22% 10.42% 10.66% (Net profit/value of equity) ÃÆ'- 100 (16560000/ 162000000) ( 15480000/ 148500000) ( 14400000/ 135000000) It is apparent from the above computation that the overall cost of capital value of firm; re-constant at different levels of debt i.e., at 20%, 35% and 50%. The benefit of debt content is offset by increase in the cost of equity. The overall cost of capital (k0) remains constant and can be verified as follows: Overall Cost of Capital k0 = kd   (D/D+S) + Ke   (S/D+S) 20% Debt K0 =   $4,00,000/$40,00,000   ÃÆ'-8% + $36,00,000/$40,00,000 X   10.22% = 0.008 + 0.092 = 0.10 or 10% 35% Debt K0 = $7,00,000/$40,00,000   ÃÆ'-8% + $33,00,000/$40,00,000 X   10.42% = 0.014 + 0.0859 = 0.0999 Or 10% 50% Debt K0 = $10,00,000/$40,00,000   ÃÆ'- 8% + $30,00,000/$40,00,000 X   10.66% = 0.02 + 0.07995 = 0.0995 or 10% Traditional Approach Traditional approach is a  middle-way approach between net operating income approach the net income approach. According to this approach: (1) A best  capital structure  does exist. (2) Market value of the firm can be increased and average cost of capital can be reduced through a prudent manipulation of leverage. (3) The cost of debt capital increases if debts are increases beyond a definite limit. This is because the greater the risk  of business  the higher the  rate of interest  the creditors would ask for. The rate of equity capitalization will also increase with it. Thus there remains no benefit of leverage when debts are increased beyond a certain limit. The cost of capital also goes up. Traditional Approach Thus at a definite level of mixture of debts to equity capital, average cost of capital also increases. The  capital structure  is optimum at this level of the mix of debts to equity capital. The effect of change in  capital structure  on the overall cost of capital can be divided into three stages as follows; First stage In the first stage the overall cost of capital falls and the value of the firm increases with the increase in leverage. This leverage has beneficial effect as debts as debts are less expensive. The cost of equity remains constant or increases negligibly. The proportion of risk is less in such a firm. Second stage A stage is reached when increase in leverage has no effect on the value or the cost of capital, of the firm. Neither the cost of capital falls nor the value of the firm rises. This is because the increase in the cost of equity due to the assed financial risk offsets the advantage of low cost debt. This is the stage wherein the value of the firm is maximum and cost of capital minimum. Third stage Beyond a definite limit of leverage the cost of capital increases with leverage and the value of the firm decreases with leverage. This is because with the increase in debts investors begin to realize the degree of financial risk and hence they desire to earn a higher rate of return on equity shares. The resultant increase in equity capitalization rate will more than offset the advantage of low-cost debt. It follows that the cost of capital is a function of the degree of leverage. Hence, an optimum  capital structure  can be achieved by establishing an appropriate degree of leverage in  capital structure. Net Income Approach This approach states that, the cost of debt and the cost of equity do not change with a change in the leverage ratio(when D/E changes), due to which it is observed that there is a weakening in the cost of capital as the leverage increases. The cost of capitalcan be calculated by the use Net income approach; weighted average of cost of capitalcan be explained by the following equation; http://lh6.ggpht.com/cemismailsezer/R4_ZkNJ-ThI/AAAAAAAAADY/RZYaGVynnUw/image%5B5%5D where: Ko: average cost of capital Kd: cost of debt Ke: cost of equity B: market value of debt S: market value of equity As we know that cost of debt is less than cost of equity (Kd http://lh6.ggpht.com/cemismailsezer/R4_ZlNJ-TjI/AAAAAAAAADo/de5aDk2tbUo/image%5B8%5D The Net Income Approach assembles the investment structure of the firm which has a major influence on the value of the firm. Therefore, the use of control will change both the worth of the organisation cost of capital. Net Income is exploited in approaching the market value that firm possesses. In this analysis Ka decreases when the D/E ratio increases as the proportion of debt, cheaper source of finance, increase in the capital structure vice versa. Assumptions of net income approach the perception of risk is not altered by the use of liability for the investors; as a result, the equity capitalisation rate i.e. ke, and the debt capitalisation rate kd, remain constant with changes in leverage The debt capitalization rate is less than the equity capitalization rate The corporate income taxes are not considered. Numerical example: Assume that a firm has an expected annual net operating income of Rs.2, 00, 000, an equity rate, ke, of 10% and Rs. 10, 00,000 of 6% debt. The value of the firm according to NET INCOME approach: Net Operating Income NOI 2, 00,000 Total cost of debt Interest= KdD, (10, 00,000 x .06) 60,000 Net Income Available to shareholders, NOI I 1, 40,000 Therefore: Market Value of Equity (Rs. 140,000/.10) 14, 00,000 Market value of debt D (Rs. 60,000/.06) 10, 00,000 Total 24, 00,000 Note: The cost of equity and debt are respectively 10% and 6% and are assumed to be constant under the Net Income Approach Ko = Kd (D/V) + Ke (S/V) = 0.06 (10, 00,000/24, 00,000) + 0.10 (14, 00,000/24, 00,000) = 0.025 + 0.0583 = 0.0833 or 8.33% Modigliani Miller (MM) Approach Assumptions of the MM Approach Capital market is perfect. It is so when: Information is freely available Problem of asymmetric information does not exist Transaction cost is nil There is no bankruptcy cost Securities are fully divisible 100% payout ratio Investors and managers are rational Managers act in interest of shareholders Combination of risk and return is rationally chosen Expectations are homogenous Equivalent risk class No taxes Investors can borrow in personal A/C at same terms of firm. Proposition I Value of the form is equal to the expected operating income divided by discount rate appropriate to its risk class. It is independent of capital structure i.e. where, V = Market Value of the Firm D = Market Value of the debt E = Market value of the equity O = Expected Operating Income r = Discount rate applicable to risk class to which firm belongs Proposition I is almost similar to the Net Operating Income Approach. MM used arbitrage argument to prove this approach. MM argues that identical assets must sell for same price, irrespective of how they are financed. Arbitrage Process If the price of a product is unequal in two markets, traders buy it in the market where price is low and sell it in the market where price is high. This phenomenon is known as price differential or arbitrage. As a result of this process of arbitrage, price tends to decline in the high-priced market and price tends to rise in the low-priced market unit the differential is totally removed. Modigliani and Miller explain their approach in terms of the same process of arbitrage. They hold that two firms, identical in all respects except leverage cannot have different market value. If two identical firms have different market values, arbitrage will take place until there is no difference in the market values of the two firms. Example: Let us suppose that there are two firms, P and Q belonging to the same group of homogenous risk. Firm P is unlevered as its capital structure consists of equity capital only Firm Q is levered as its capital structure includes 10% debentures of Rs.10,00,000 According to traditional approach, the market value of firm Q would be higher than that of firm P. But according to M-M approach, this situation cannot persist for long. The market value of the equity share of firm Q is high but investment in it is more risky while the market value of the equity share of firm P is low but investment in it is safe. Hence investors will sell out equity shares of firm Q and purchase equity shares of firm P. Consequently the market value of the equity shares of firm Q while fall, while the market value of the equity shares of firm P will rise. Through this process of arbitrage therefore, the market values of the firms P and Q will be equalized. This is true for all firms belonging to the same group. In equilibrium situation, the average cost of capital will be same for all firms in the group. The opposite will happen if the market value of the firm P is higher than that of the firm Q. In this case investors will sell equity shares of P and buy those of Q. Consequently market values of these two firms will be equalised. Proposition II MM Proposition II states that the value of the firm depends on three things: Required  rate  of return on the firms assets (ra) Cost of debt of the firm (rd) Debt/Equity ratio of the firm (D/E) An increase in financial leverage increases expected Earnings per Share (EPS) but not share prices. Proposition II states that an expected rate of return of shareholders increases with financial leverage. Expected ROE is equal to expected rate of return on assets plus premium. The formula for re is: re = ra + (ra-rd)x(D/E) Implications of Proposition II- rd is independent of D/E and hence re increases with D/E. The debt crosses an optimal level, the risk of default increases and expected return on debt rd increases. Limitations of MM Approach- Leverage irrelevance theory of MM is valid if perfect market assumption is correct but actually it is not so. Firms are able to pay taxes and investors also pay taxes. Bankruptcy cost can be very high. Managers have their own preference of a type of finance. Managers are better informed than shareholders i.e. asymmetry of information exists. Personal leverage is not possible to be substitute of corporate leverage. 100% payout ratio is not possible normally. Analysis of Companies TVS Motors: TVS Motors hold one of the top ten two wheeler manufacturer and number three positions in Indian market, with turnover of $1 billion in 2008-2009 and is the flagship division of TVS group which is of worth $4 billion. TVS Motors manufactures wide range of two wheelers ranging from two wheelers for domestic use to two wheelers for racing. Manufacturing units are located at Housar and Mysore Himachal Pradesh Indonesia Has production capacity of 2.5 million units per year with strength in design and development TVS has recently launched 7 new products. Till now TVS has sold more than 15 million two wheelers and has employed 40000. TVS motor is the only Indian company to win Deming award for quality control in 2002. TVS Network spans over 48 countries. Particulars 2007-08 (in crores) 2008-09(in crores) OPERATING INCOME 45.31 121.08 INTEREST ON DEBT( I) 11.47 64.61 EQUITY EARNING 33.84 56.47 COST OF EQUITY (Ke) 4.13% 4.21% MARKET VALUE OF EQUITY 819.37 1341.33 COST OF DEBT (Kd) 1.72% 7.13% MARKET VALUE OF DEBT 666.34 905.98 VALUE OF FIRM 1485.71 2247.31 COST OF CAPITAL (Ko) 3.05% 5.39% WACC Calculation: For 2007-08 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.84) x 0.413 + 0.84/(1.84) x 0.172 = 0.2284 +0.078 = 3.051% For 2008-2009 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(2.11) x 4.21 + 1.11/(2.11) x 7.13 =1.995 +3.750 = 5.75% Hero Honda: Hero Honda Motors Limited is largest and most successful two wheeler manufacturers in India and it is India based. Hero Honda was a joint venture between Hero group and Honda of Japan till 2010 when Honda sold its entire stake to Hero. In 2008-09 Hero Honda sold 3.7 million bikes with 12% growth rate and captured 57% of Indian markets share. Hero Honda Splendor is worlds largest selling motorcycle sold more than 1 million units in 2001-03.C:UsersAAdityaDesktopindex.jpg In December 2010, the Board of Directors of the Hero Honda Group have decided to terminate the joint venture between Hero Group of India and Honda of Japan in a phased manner. The Hero Group of India would buy out the 26% stake of the Honda in JV Hero Honda. Under the joint venture Hero Group could not sell into international markets and the termination would mean that Hero Group can exploit global opportunities now. Since last 25 years the Hero Group relied on their Japanese partner Honda for R D for new bike models. So there are concerns that the Hero Group might not be able to sustain the performance of the Joint Venture alone. WACC calculation: For 2007-08 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.07)x34.73%+0.07/(1.07) x 8.33% = 33% For 2008-09 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.04)x32.41%+1.04/(1.04)x10.20% = 31.55% Particulars 2007-08 (in crores) 2008-09 (in crores) OPERATING INCOME 1201.96 1367.77 INTEREST ON DEBT( I) 13.76 13.47 EQUITY EARNING 1188.22 1354.3 COST OF EQUITY (Ke) 34.73% 32.41% MARKET VALUE OF EQUITY 3421.25 4178.65 COST OF DEBT (Kd) 8.33% 10.20% MARKET VALUE OF DEBT 165.18 132.05 VALUE OF F

College Admissions Essay -- essays papers

College Admissions Essay If someone asked me where I am going to be in ten years, this would be my answer. I will have a great, high-paying job, and beautiful wife and family, and a nice sports car parked in front of my lovely house. When I look into the future, I see myself being successful and happy. Even though I always pictured myself this way, I never worried too much about how I would get there. I feel the Suffolk University can lay the groundwork for making these dreams into reality. Regretfully, when I entered high school I did not realize how hard I had to work to get what I wanted. I went to my classes, did my work, but never really pushed myself to my full abilities. I thought that as long as I graduated with decent grades I would be able to get into college and really focus then. But as high school quickly came to an end I realized that I was not as well prepared for college, as I would have liked. By the time I was a senior I began concentrating more on my studies, and less on other things. Once I started applying myself, my grades improved, and so did my attitude about my education. Senior year flew by before I knew it, and I still had to take my SAT's. I was sick with bronchitis, but had to take them because it was the last available date. I struggled through them, knowing that if I had only not waited until the last minute, I could have redone them when I was healthy. It was too late though, so I was stuck with a score that I was not pleased with. Aft...

Memoirs Of An Invisible Man :: essays research papers

Memoirs of an Invisible Man   Ã‚  Ã‚  Ã‚  Ã‚  After being caught in a freak industrial accident in New Jersey, Nicholas Haloway decides to try to survive after the accident rendered him absolutely invisible. Soon he learns that no one must know of his invisibilty. Soon afterwards, the army starts searching for him because they feel that his invisibility would be extremely useful in Intillegence missions.   Ã‚  Ã‚  Ã‚  Ã‚  Headed by David Jenkens, the project soon invades his apartment, forcing him to leave and find a new place in the city to stay. When he decides to stay at his club, he establishes a daily routine where he accomplishes the task of finding food and sustaining himself in the club. Every day that passes, Nick begins to feel that the government is closer, a few weeks later, David Jenkins shows up at his club and starts to install special doors that would prevent his escape. Nick is now faced with a difficult situation, he has to leave the club, but he also has to leave what has become almost like a home for him.   Ã‚  Ã‚  Ã‚  Ã‚  As he finds another club to settle in, Jenkens shows up and begins to raid that club as well. Now Nick is convinced that Jenkens is going to capture him unless he finds a more valid hiding place. Soon Nick begins to search out empty apartments in Manhattan, but finds that Jenkens has once again started to raid empty apartments.   Ã‚  Ã‚  Ã‚  Ã‚  Nick knows that for his survival, he needs to find a way to keep him financially healthy and have a permanent home that would be almost impossible for Jenkens to trace. Upon arrival at an empty apartment, Nick notices the name on one of the Envelopes, Johnothan R, Crosby. Nick also finds out that the Crosbys live in another country most of the time and their apartment would suit him fine for the temporary time being. First, to prevent Jenkens from finding him, he follow one of Jenken’s men to the office where the headquaters of the investigation are housed, he then burn up most of the papers in the office so that the investigation would lose every thing that they had found.   Ã‚  Ã‚  Ã‚  Ã‚  After knowing that it would be difficult for Jenkens to locate him now, he settles down and creates a stock porfolio with a broker. Knowing that it would be almost impossible to for him to guarentee that he would make enough money on the stock market, he devises a plan to secretly spy on people and find secrets of certain markets and places money on the winning stocks.

Immanuel Kant `To Perpetual Peace`

Introduction:A common man, an intellectual, a philosopher and even a spiritual personality in his disposition at the secular level— are all conditioned by time. Their speech and writings strongly reflect the social life and beliefs of the era to which they belong. They mostly analyze and interpret what they see and experience. Thomas Hobbes (1588-1679) or Immanuel Kant are no exceptions.Kant and Hobbes: Where do they stand?Before attempting to understand the views of Kant and Hobbes, one important problem with such mind-level intellectuals needs to be examined. All the arguments and counter-arguments are mind related problems. Their force lasts up to the mind-barrier only. Once the mind barrier is crossed, these philosophers will shake hands with each other, without any reservations. The inner world being the fountainhead of bliss, the communion with it paves the way for eternal happiness. Happiness of Kant and melancholy of Hobbes are the outcome of their own positive and neg ative thoughts respectively.The desire for peace and eternal happiness so eagerly sought by either these philosophers (or thinkers as one may wish to address them), calls for thought control or mind control. No King, no Dictator, no President, no Chairman, no Military Dictator, no Philosopher can bring peace in his area (country) of governance, unless peace prevails in the hearts and minds of each citizen. It can be achieved by an individual only. From the point of view of relationship between the State and People, it is true that the people need to be basically sound and industrious. But, basic conditions also need to be created for the people to become basically sound and industrious. It is the two way traffic.To control something, we need something more powerful than it. However, there is nothing but soul that is mightier than highly potent individual minds. Until now, our medical world has discerned out that sadness, melancholy, stress and depression (the qualities dearest to th e heart of Hobbes) are related to imbalanced biochemical reactions. However, our physical world being supported by our psychological world, the whole range of biochemical reactions taking place in our body is linked with our thought pattern.Only when our thought process changes (of the common citizen and the rulers) the action process will also change. So, when the thoughts are changed, the mind is changed; when the mind is changed, the man is changed; when the man is changed, the society is changed; when the society is changed, the nation is changed. When the Nations change for the better, world peace becomes the reality. It is in this context, all the texts, all the theories, targeting peace need to be understood.1. Explain as concisely and precisely as possible how Kant weds a pessimistic realism to an optimistic idealism in his political teaching.  The pages of human history daubed in bloodshed relating to the ambitious wars between the kings, violence under the flag of religi on, territorial victories and defeats, ask the crying question. How to make this Planet Earth heaven-like? The answer is simple and direct. Eyes full of understanding, hearts full of love and the life that refuses conflicts—enough, these alone are enough. Kant said it long ago, in his own style. Traditions of historical thought are related to historical continuity.There are certain timeless issues, to which all scholars swearing by any school of thought must apply. Some see contradictions in the views of the authors in Realism and Liberalism. The area of confusion is, â€Å"On the one hand, the issues of war and peace provide a basis for continuity while, on the other, these authors are used to furnish contemporary theories with philosophical roots that lie outside the definition of the discipline.That is, Hobbes provides a theory of human nature and the state which underpin contemporary theories of power politics between states. Similarly, Liberals use the work of Kant to u nderline the domestic bases of international conflict and cooperation. In both cases, the attraction of the classics seems to lie in their holistic – or interdisciplinary – approach to social and political life which denotes a fundamental difference in the intellectual context of classical and contemporary theory.† (Classical†¦)2. Specify exactly where Kant reveals his Hobbesian views.â€Å"Establishing the concrete nature of the intellectual context of classical texts is, thus, important for any conscious reflection on the limits and possibilities of the definition of International Relations and its core concerns. And here again we find that the invention and use of classical traditions for the purpose of defining and structuring contemporary theoretical as well as political debates is often characterized by a lack of attention to specific historical continuities and discontinuities.†(Classical†¦.).Hobbes for Realism and Kant for Liberalism are often quoted. Many debates between these approaches are presented as ‘timeless.’ In the International politics their application is one of understanding to a particular situation, and the identical situation in two countries, may invite different types of response. Hobbes is known as the natural law philosopher. He lived during the most tumultuous period of the European history. The socio-political then prevailing had a profound bearing on his theories and as for his assessment of human nature, he was thoroughly pessimistic.According to Hobbes, a human being is guided by self-interests, and if this craze is not properly checked, the consequences would be highly destructive. He will be at war with his fellow beings. The instinct for survival makes one give respect and take respect. One renounces one’s rights to secure them, one abhors violence to seek protection and guarantee from violence. â€Å"One of the interesting elements of Hobbes's story is that concepts like morality, liberty, justice, property, etc. have no natural, intrinsic or eternal meaning.   They are pure social constructions.As history has shown no set of values will last forever but will evolve as circumstances change† What Hobbes and Kant wrote is in an entirely different context of International Relations as applicable to that era. The importance of theories of Kant or Hobbes becomes less important sometimes, and the objective to be gained holds relevance. In the final analysis, economic or political gains are important, and the ‘timeless’ views of Kant go hand in hand with the Hobbesian views.3. Exactly what makes him think that law and order are possible in international politics?Globalization is the watchword for the twentieth century. Technological advancement and internet revolutions are pushing the concept of globalization very fast, prompting the politicians to move in that direction. They are left with no other choice. The views of the classi cal authors hold even well today and they play an important role in International Relations. Whether Kant believes in the relevance of his theories as for contemporary International Relations or not, the present day International Relations specialists do, and make intensive and extensive use and application of such texts. Realists quote Hobbes, and liberals Kant.Conclusion:Hobbes saw laws as commands. He had his special ideas about the legitimacy of laws and power of governments. He is the ardent supporter of the rule of law. However, one notices latent similarity between their apparently dissimilar views, quite often. Sometimes, the mouth of Kant speaks, through the heart of Hobbes. In yet another occasion, the mouth Hobbes speaks through the heart of Kant. They seem to walk together on a parallel path.References Cited:Kant, Immanuel: Book: Perpetual Peace:Paperback: 72 pagesPublisher: Cosimo Classics (November 1, 2005)Language: EnglishISBN-10: 1596055499ISBN-13: 978-1596055490Arti cle: Classical Theory in International Relations – Cambridge University Presswww.cambridge.org/catalogue/catalogue.asp?isbn=9780521866859;ss=exc – 35k –Retrieved on December 9, 2007

Nutrition Implications in Complex Disease: Whole Grain Oat Cereal Lowers Serum Lipids

Coronary heart disease, CHD, has been predicted to persist as the major cause of high mortality rate for the coming decades. In line with this, the development of ischemic heart disease was attributed to the increasing level of low-density lipoprotein or LDL blood cholesterol. According to the National Cholesterol Education Program or NCNEP adult treatment panel, less than or equal to 5. 17 millimole per liter (200 milligram per deciliter) is the ideal blood cholesterol level for individuals of age higher than 20 years while higher than 6. 21 millimole per liter or 240 milligram per deciliter is risky. In connection to this, about twenty nine percent of adults older than 20 years in the United States have 6. 21 millimoles per liter blood cholesterol. Meanwhile, researches have shown that consumption of dietary soluble fibers lowers blood cholesterol level as epidemiologic studies revealed that the CHD development can be alleviated by means of dietary fiber consumption. In fact, more than thirty researches that were submitted to the Food and Drug Administration of the United States by the Federation of American Societies for Experimental Biology Report validated the efficacy of soluble fiber consumption on blood cholesterol reduction. Clinical studies showed that soluble fibers from selected gums, psyllium, oat bran, pectin, and oats generally caused six percent to nineteen percent serum cholesterol reduction. Since the low cholesterol and low saturated fat diet has been employed in hypercholesterolemia medical therapy, this study aimed for the assessment of commercially available whole grain oat cereal, as employed with the step-one diet of the American Heart Association (AHA), in the reduction of blood cholesterol level. Methodology This study has enlisted fifty-seven participants from previous researches advocated by the Heart Disease Prevention Clinic. While forty-six of these participants have joined the intervention phase, only forty-three persevere and endured until the end. The participants have ages in between twenty-seven and sixty-eight years with 50th to 90th percentile range of cholesterol level based on age and gender adjustments. In the recruitment of participants, individuals with higher than 3. 39 millimole per liter of triglycerides, a body weight thirty percent higher than ideal, has major surgery and myocardial infarction history, gastrointestinal illness, unstable angina or heart failure was excluded form the enlistment. Also, those who were presently in taking up drugs for medication such as lipid-lowering agents, thiazides, antibiotics, estrogens, corticosteriods, and progesterones were excluded. In line with this, those who were taking ?-adregenic blockers needed to maintain the dosage of such drug during the duration of the study for them to become eligible. Finally, twenty-one men and twenty-two women were successfully made into the phases of this study. The phases of the intervention plan were four-week washed out stage, two-week baseline, and four-week treatment part. Throughout the intervention phases, the participants were required to maintain weight while consuming about ready-to-eat cereals twice daily within four weeks. In connection to this, all participants were mandated to abide with the AHA step-one diet design during the duration of the study. Meanwhile, physiological data such as weight, nutrient data, and lipid profiles of the participants were determined from zero to four-week baseline. Moreover, the nutrient data based on four-day food records were evaluated by the National Coordinating Center. In the intervention plan, pairing of participants was done based on gender and entry cholesterol data, whereas in each pair one was assigned to â€Å"Country Cornflakes† while the other has undergone the â€Å"Cheerios† diet. The former was the control cereal while the latter was the source of whole grain oat. Both of these cereal types were produced through cereal processing equipment and each were pre-packed into 42. 5 grams upon distribution to the participant. This was done in order to hide the identity of the commercial cereals used in this study. In connection to this, the researchers also ensured which cereal type was assigned to whom and the participants’ adherence to the consumption design by personal interviews and visitation. Meanwhile, the participants’ clinical assessment, as approved by the Centers for Disease Control and Prevention, was done after twelve-hour and twenty-four fasts from food and alcoholic drinks respectively. In every visit, blood pressure, lipid profile, pulse, and body weight were accurately measured. In relation to this, participants have undergone clinical screening such as urinalysis, blood count, electrocardiogram, and physical examination. The lipid content of the blood collected through sodium-potassium ethylenediamine tetraacetic was analyzed in the University of Minnesota’s laboratory for Lipid Research Core. The high-density lipoprotein or HDL cholesterol, total cholesterol, and triglycerides were determined. Also, very-low density lipoprotein or VLDL and LDL were precipitated; Friedewald formula was utilized for LDL calculation. Lastly, the cholesterol data of the participants before undergoing the treatment was statistically compared with their respective cholesterol data analyzed after the intervention phases by means of t-tests and analyses of covariance. Results and Discussion The participants in this study were equally divided into two groups; the control group received cornflakes food supply while the treatment group was fed on whole grain oat. Both groups have 51. 6 years as average age of the participants. Although the baseline body weight of the treatment group was five kilogram lower as compared with that of the control group, the difference did not make statistics significance. As such, there was no significant difference on the body mass index or BMI, and the baseline and post-intervention phase blood pressure among the two groups. Further, personal interviews on the participants revealed that their smoking and alcohol drinking habits as well as regular exercise in either group was maintained throughout the study. Luckily, complete blood count and blood chemistry of the participants did not change significantly during the study period. In terms of fat consumption, the total intake of the treatment group was decreased non-significantly from 56. 7 grams to 51. 8 grams. Moreover, the average diet changes were 11. 2 milligrams per deciliter and +4. milligrams per deciliter for the treatment group and the control group respectively. Similarly, among the two groups, there was no significant difference on the key nutrients before and after the duration of intervention phases. Except for soluble fiber, there were no other significant changes with respect to diet composition among the two groups. Meanwhile, whole-grain oat group incurred 3. 8% and 5. 4% changes on total cholesterol and LDL cholesterol respectively. As compare with the control group, the treatment group had a decreased of 4. % in total cholesterol and 4. 9% LDL cholesterol. Although, there was no significant difference in HDL cholesterol between the two groups, they had a 0. 20 millimole per liter LDL cholesterol difference. The exact mechanism of the cholesterol reduction was still unclear. It was theorized that the viscosity of soluble fibers lessen the rate of chime transfer in the upper gastrointestinal tract that causes low absorption rates, less blood nutrients, and changes in hormonal responses to delimited nutrients. In their hamsters study, Gallaher, Hassel, and Lee associated the reduction of plasma and liver cholesterol to the increase in the viscosity of the intestinal contents. However, viscosity was deemed only as a crucial requirement for the reduction of serum cholesterol. In this connection, it was proposed that soluble fibers hinder bile activity lessening the absorption rate. This process obstructs enterohepatic circulation leading to fast conversion rate of cholesterol to bile acids. In addition, other compound constituent of the fibers may also promote this process. For instance, tocotrienol in rice bran, oats, and barley inhibits cholesterol synthesis. Furthermore, the soluble fiber fermentation produces chain fatty acids which in turn hinder cholesterol biosynthesis. Changes in Serum Cholesterol and Sterol Metabolites after Intake of Products Enriched with an Oat Bran Concentrate within a Controlled Diet Introduction The United States Food and Drug Administration or FDA, in 1997, approved the notion concerning soluble fiber consumption and coronary heart disease or CHD risk reduction. The serum cholesterol or S-cholesterol reduction was ascribed to the soluble fiber, (1-3),(1-4) ?-D-glucan or simply ?-glucan present in oats and whole oat flour. Based on clinical claims, the consumption of three grams of ?-glucan per day results to S-cholesterol lowering and CHD risk reduction. Meanwhile, the S-cholesterol lowering mechanism was theorized to depend largely on increased bile acid activity due to viscous ?-glucan which in turn induces cholesterol and bile acid biosyntheses. The rate of cholesterol and bile acid biosyntheses can be traced on through the ratio of lathosterol to cholesterol and the presence of 7-?-hydroxy-4-cholesten-3-one, respectively. Thus, this study aimed to assess the S-lowering of oat bran concentrate or OBC food products incorporated in the low-saturated fat and low-cholesterol diet of hypercholesterolaemic patients. Also, the OBC effect on bile acid and cholesterol biosyntheses were examined. Methodology The recruitment of the respondents for this study was done through newspaper advertisement. Twenty-seven individuals were examined but only sixteen has passed the screening and participated in the study. The participants should have ages of 35-70 years and 50-70 years for men and women respectively. In addition, all participants should have less than six millimoles per liter S-cholesterol level. On the other hand, individuals with less than four millimoles per liter S-triacylglycerol or TG, hyperlipedaemia, less than 30 kilogram per meter square body mass index or BMI, and with cases diabetes mellitus, liver disease, thyroid problems or kidney trouble and those under hormonal therapy or cholesterol medication were excluded. Hence, the final participants were composed of seven women and nine men with average age of 57 years, 25. 4 kilogram per meter square BMI, and 7. 47 millimoles per liter S-cholesterol level. This study was a single-blind and randomized cross-over that lasted for two by three weeks with 2. 5 weeks washout period. As such, the experimental group was supplemented with OBC of about 2. 7 grams per day ?-glucan in their diet while the control group was told to maintain their typical diet. In relation to this, laboratory test such as fasting blood sampling and body weight recording were performed. The results of every clinical test were only revealed to the participants after the completion of the study. The American Heart Association recommended diet was utilized as computations of every participant’s daily food requirements and menu planning were facilitated by MATS computer program. Strict compliance with the diet was imposed through regular checking as amounts of sweet foods and drinks were regulated. For instance, maximum of 375 grams of wine or 660 milliliter of beer were only allowed per week. Additionally, participants were given copies of the foods they ate for the first week and told to stick to such as much as possible. Fasting blood sampling was done every morning as the blood samples were analyzed in terms of low density lipoprotein or LDL cholesterol, TG, and high density lipoprotein of HDL cholesterol, and S-cholesterol. Further, serum lathosterol and 7-?-hydroxy-4-cholesten-3-one levels were determined through gas chromatography. Meanwhile, statistical treatments were done by means of MS Excel and SYSTAT package. Pearson’s correlation and t-test were employed for correlational analysis and paired comparison respectively. Results and Discussion As compared with the control group, the experimental group has incurred six percent S-cholesterol reduction based on five-gram ?-glucan daily diet. In fact, a significant correlation S-cholesterol baseline level and total S-cholesterol changes during diet period were observed. In addition, changes on the serum metabolites which reflected bile acid secretion and cholesterol biosynthesis were noted. Moreover, the solubility of ?-glucan in OBC was calculated and found only as 50%. Weight losses which denoted S-cholesterol reduction also were observed. Meanwhile, due to the delimited fat intake, HDL-cholesterol reduction was noted as TG level was decreases in some participants only. Correlational changes on lathosterol and S-cholesterol implied cholesterol biosynthesis after oat diet. This observation was attributed to increase in bile acid production that was mediated by ?-glucan which in turn caused reduction in bile acid reabsorption. This process triggered bile acid synthesis through cholesterol from plasma pool by means of LDL-receptor. Yet, no significant change on serum lathosterol and 7-?-hydroxy-4-cholesten-3-one levels observed on participants. High-Fiber Oat Cereal Compared with Wheat Cereal Consumption Favorably Alters LDL-Cholesterol Subclass and Particle Numbers in Middle-Aged and Older Men Introduction High in fiber diet, in parallel with low-fat intake and other dietary factors, has been associated with the reduction of cardiovascular disease or CVD risk. Based on the meta-analyses of a number of studies, ?-glucan soluble fibers in oat products lessened serum cholesterol and low-density lipoprotein or LDL-cholesterol. It was inferred then that the capability of soluble fibers for CVD risk reduction is in concurrence with its capacity in modifying lipoproteins and serum lipids. In a number of cases, individuals with normal profile of serum lipids developed CVD. Thus, a closer examination on blood lipids attributes may provide insights on the possible CVD risk development and modify the efficacy of intervention for the prevention of such risk. However, no research has been conducted with respect to the effects of cereal and soluble fibers on lipoprotein subclasses, and particle size and number. Also, none has reported on lipoprotein and lipid changes brought either by carbohydrate, and cereal or oat diet. Hence, this study aimed to determine cereal or oat diet on plasma lipid indexes such as LDL particle number, and lipoprotein subclasses and particle diameter. Methodology Men selected for this study were in between 25-35 years of age and have 50-75 kilogram per meter square body mass index. Individuals with CVD, diabetes, abnormal blood pressure, smoking habits, thyroid gland or eating disorders, and those who currently in any medication and with high amount consumption of fibers were excluded. At last, 36 men were successfully passed then clinical requirements that were divided into two groups. Then, weight and bodily measurements were gauged initially and periodically during the study. Nonetheless, the participants, under the instruction of dietitian, recorded their food preparations and sizes in four-day food intake. In connection to this, records of food intake were analyzed through Food Intake Analysis System or FIAS. Meanwhile, participants’ blood samples were taken before and after the twelve-week intervention. By means of nuclear magnetic resonance spectroscopy or NMR, the concentrations and particle size of blood lipids and lipoproteins were assessed. Further, the insulin-augmented frequently sampled intravenous-glucose-tolerance test or IVGTT was applied to participants. For statistical treatments, Kolmogorov-Smirnov normality tests were employed prior to analysis of variance done through SPSS package. Also, analysis of covariance was performed for body weight changes and macronutrient intake. Nonetheless, t-tests were utilized to examine lipoprotein and lipid response differences. Results and Discussion Based on the results of this study, two large oat servings added to the regular diet of the participants, lowered small, dense LDL and LDL particle concentrations. In addition, in spite of the carbohydrate intake elevation and saturated-fat intake lowering, the concentration of triacylglycerol did not significantly increase for high-fiber oat group. In contrast, it was reported that triacylglcerol in blood increases along with the changes in lipoprotein and lipids in individuals who fed on wheat cereal with high carbohydrate intake and low-fat diet. Meanwhile, the association between triacylglycerol elevation and CVD risk development was linked on the changes in the composition of LDL and high-density lipoprotein or HDL cholesterol. In relation to this, the substitution of triacylglycerol by cholesterol esters in lipoproteins results to accumulation of triacylglycerols in HDL and LDL which in turn serve as reactant in hepatic triacylglycerol lipase. Then, the removal of triacylglycerol leads to particle size decreased and density increased. Hence, in this study, the decrease in plasma tiaclyglycerol resulted to increase in LDL particle size for oat group but not with wheat cereal group. Analysis and Conclusion From the abovementioned studies, it was statistically proven that supplementation of oat cereals to the controlled diet of hypercholesterolemia patients caused blood lipids and HDL reductions. Further, oat meal diet results to LDL-particle size decreased and particle number increased which is beneficial in the part of hypercholesterolemia patients. On the other hand, it was theorized that the viscosity of soluble fibers lessen the rate of chime transfer in the upper gastrointestinal tract that causes low absorption rates, less blood nutrients, and changes in hormonal responses to delimited nutrients (Reynolds, Quiter, and Hunninghake, 2000). This process obstructs enterohepatic circulation leading to fast conversion rate of cholesterol to bile acids (Reynolds, Quiter, and Hunninghake, 2000). Thus, the increase in bile acid production as mediated by ?-glucan caused reduction in bile acid reabsorption (Davy, Davy, Ho, Beske, Davrath, and Melby, 2002). This process triggered bile acid synthesis through cholesterol from plasma pool by means of LDL-receptor (Davy, Davy, Ho, Beske, Davrath, and Melby, 2002). As a consequence, the substitution of triacylglycerol by cholesterol esters in lipoproteins results to accumulation of triacylglycerols in HDL and LDL which in turn serve as reactant in hepatic triacylglycerol lipase. Then, the removal of triacylglycerol leads to particle size decreased and density increased (Davy, Davy, Ho, Beske, Davrath, and Melby, 2002). Nonetheless, other compound constituent of the fibers may also promote this process. For instance, tocotrienol in rice bran, oats, and barley inhibits cholesterol synthesis. Moreover, the soluble fiber fermentation produces chain fatty acids which in turn hinder cholesterol biosynthesis (Reynolds, Quiter, and Hunninghake, 2000). With these reasons, the research question â€Å"What is the effect of a diet high in dietary fiber and how does it decrease LDL – cholesterol and serum lipids? † was plausibly answered.

How to Write a Project Charter.Docx Uploaded Successfully

How to Write a Project Charter By Joe Raasch, eHow Member I want to do this! What's This? User-Submitted Article Ever get partway through a project and forget why you were doing the project? Or maybe the project team has grown a bit larger than you expected? With a project charter, you can mitigate or eliminate these and other project management challenges. It is helpful to write a project charter before starting any business project. This simple, one-page document will provide an anchor and guide as you move forward in executing, implementing or solving the project you have. Difficulty: Moderately EasyInstructions Things You'll Need: * A completed project charter template Choose a Project Charter Template 1. 1 Check with your colleagues or your organization's project management office for any prevailing templates. 2. 2 Ensure the project charter template in some way covers the following areas: project name, problem statement, project team, start date, end date, project goals, projec t financial impact, project sponsor, project scope. 3. 3 Everyone on your project team will need to have the applicable software, such as MS Word or PowerPoint, to read the project charter. Complete the Project Charter 4. 1Complete the project name. The name should help identify what the project is about. For example, â€Å"New Science Lab Installation Project† or â€Å"Mortgage Application Cycle Time Reduction Project. † 5. 2 Complete the project summary section. You should write a brief paragraph that tells anyone with basic knowledge of your organization/department what you are doing as a project. 6. 3 Complete the problem statement section. Ask yourself what problem or issue you are trying to solve by doing this project. For example, â€Å"the mortgage application process is taking 3 weeks longer than what is acceptable by our clients. 7. 4 Complete the project goal section. What do you expect to accomplish by completing this project? Use S. M. A. R. T. goals: Spe cific, Measurable, Attainable, Realistic and Time bound. For example, â€Å"The goal of this project is to reduce the time it takes to process a new mortgage application from 4 weeks to 2 weeks by the end of second quarter this year. † 8. 5 Complete the project team section. If you do not know the specific names of team members at this time, put in the job titles. Some examples are Assistant Project Manager, Business Analyst or Operations Tech. 9. Complete the financial section. Here is where you estimate the financial impact of doing the project. Will there be savings of actual expenses? Cost avoidance? Increase in revenue? You will want to restate your project goal as part of this section. For example, â€Å"by reducing the cycle time of new mortgage applications, we will receive our fees 50 percent faster, resulting in an increase in revenue. † 10. 7 Complete the start and stop date. When will work begin on the project? What is the estimated completion date of the p roject? 11. 8 Complete the project sponsor section.Who in the management or executive ranks is directly supporting this project? 12. 9 Complete the project scope section. This is where you determine exactly what will and will not be part of the project focus. We are doing this in Step 9 to give you an opportunity to tighten up your problem statement if needed. For example, â€Å"new mortgage applications are in scope, refinancing or home equity mortgages are out of scope. † Read more: How to Write a Project Charter | eHow. com http://www. ehow. com/how_2180920_write-project-charter. html#ixzz0zZRVWz7N

Modernist Styles, Including Cubism, Orphism, and Futurism

Modernist styles, including Cubism, Orphism, and Futurism challenged the practices of traditional representational art. I will argue that modernist styles including Cubism, Orphism and Futurism did challenge the practices of traditional representational art. While some may argue that that the fact that modern styles were concerned with subject gives doubt to how challenging they really were to representational art I oppose this idea entirely. All art is representational in some way.Rather than a dismissing the concept of representation in art the modernist styles challenged the validity of the external representation, which had previously en the foundation of art, by focusing on conceptual representation. Traditional representational art is based on the representation of an image as it is, at a fixed point in time, from a singular viewpoint. This type of art aimed to be entirely familiar to the viewer; the subjects involved easily recognizable and derived from sources of reality.Mel Gooding, in his book Abstract Art defines representational art as ‘any mode of representation in painting and sculpture that offers the eye the illusion of a perceived reality. ‘ I would expand on this definition to include art that aims to render n image realistically from a fixed viewpoint at a specific point in time. Based on these definitions, it is evident that Cubism, Orphism and Futurism rejected traditional concepts and conventions as these could not portray the conceptual representation modern art was concerned with.It is evident in the works produced by the artists associated with these movements that they made a conscious decision to expand what was acceptable in art by challenging the artistic techniques and practices of representational art that had been adhered to for hundreds of years. The introduction of new media, new concepts of space and form and new techniques tit light and color were all innovative and effective ways to display experiences of the wor ld in ways that weren't bound by traditional artistic conventions.These new conventions were only able to develop because modernist artists ‘consciously sought radically new ways to represent their experience of the world. ‘ Modern art at this time was all about stimulating the experience of a subject by portraying its essence through new artistic conventions. In this way these modern works challenged the more objective representational art by uncovering new concepts of reality that did not involve the burden of realism. The artist Delaney explained this as ‘historically there was a change of understanding, hence of techniques, of modes of seeing. In some ways these artists were set free from the burden of realism by the invention of the camera, which could render an image perfectly. They were given the freedom to portray their understanding of an image, not how it is observed. New modernist styles marked a change in the definition of what reality expressed through art really was, moving away from the traditional illusionist's visual mimicry to a more conceptual and internal representation. This idea was first formally established by Maurice Urinal an art critic and close friend of many of the artists involved in these modern movements.He stated that â€Å"if art is a meaner of augmenting knowledge, its function will only be served by painting forms as they are conceived in the mind. † I will argue that this conceptual form of art is more intellectually stimulating due to its complexity than the blatancy of figurative art. This is a sentiment that abstract artists wished to express and the reason they challenged the traditions of art at all. I will set out in my argument how the innovative use of artistic conventions by modernist artists proves that the practices of traditional representational art were rejected.It was only through this purposeful rejection of traditional representational art to a truer, more conceptual representation that the innovative concepts associated with these modernist styles were able to develop and this marks the development of modern art into abstraction. Space and form All three styles, Cubism, Orphism and Futurism show a pictorial space and form which would be unrecognizable to traditional representational art.. Although theses three modern styles varied, the works involved all occupied a new and more complex pace.Mel Gooding explains this as a trend in modern art away from the representation of recognizable objects in pictorial space and towards presentation of a painting or sculpture as a real object in real space. ‘ Up until this time the pictorial space created in the art work aimed to create the illusion of a real pictorial space for the spectator. The technique of one point perspective which was very much adhered to during the renaissance created a space in the picture which vanished into a single point in order to replicate the three dimensionality of our vision.This co upled with the use of shading and toning to accentuate the weight of form worked to create the illusion of looking into a realistic space. The use of formal conventions such as perspective and tone are illusionist's and therefore they were abandoned by these modern artists who were inspired to achieve a more conceptual representation of space and form. For example, Baroque said of Cubism What most attracted me and what was the governing principle of Cubism, was the materialistic of this new space which I sensed. The art movement of Cubism was in fact sparked by the idea f exploring a new anti naturalistic space which can be seen to be developed and refined throughout the phases of cubism. The driving force behind the experimentations with form that developed cubism was the rejection of the deceptive singular viewpoint perspective which governed the illusionist of representational art. Initially the search for a new, more truthful pictorial space was found in the introduction of time , the fourth dimension, into space.Around this time in history the concept that space and time where interlinked was suggested by Einstein theory of relativity which destroyed the concept that the dimensions of an object were absolute, by demonstrating that they depended on the relative position of the viewer. This abstract concept was portrayed in Cubism through the use of synthesized impressions of an image or space. As you view an image or object, your impression is not static but a moving collection of impressions over time. The use of multiple viewpoints aimed to compress a multiplicity of information gathered from various experiences of an object into one image.This innovation off truer space is most evidently portrayed by the analytic phase of Cubism. Through the incorporation of the new artistic conventions the fragmentation of form was developed. The intention was to encompass the entire visual experience of an object into one image and through this idea an effective techni que of breaking up form into planes and facets which each expressed a sample of visual information. The Cubist works now possessed a shallow pictorial space due to the abandonment of perspective on which these fragmented facets could be hung.This concept worked not to bring the viewer into an illusionist's space like traditional representational works, but to accentuate the flatness of the picture plane in order to bring the space forward to the viewer for hem to experience its analysis of the image and to stimulate those sensations provided by the experience of the objects. In Futurism the concept of time in an image was portrayed by movement. This inclusion of time as a meaner of transforming the static imagery once associated with art into a capturing of movement created a new optical and temporal space.Futurists were also interested in the use of fragmentation of form to challenge the idea of a fixed viewpoint that was used in representational art. However, they developed this i dea further and produced works which captured the idea of movement in a way that was not possible wrought traditional conventions. They achieved this through the use of rhythmic repetitions of space and form which is effective in evolving a static image into one which is in constant motion. Evidence of all of these ideas can be seen in artworks associated with all three of these modernist art styles.One of my favorite examples is Marcel Duchess's Nude Descending a Staircase No. 2. This work portrays the mechanical movement of a nude figure as it moves down a staircase. The form is made up of the synthesis of various static positions of the nude as it is in motion and Leary expresses the idea of form changing over time. The form consists of layers of superimposed facets and angular planes which is evidence of cubist ideals of space and form. At the same time the still phases of the form placed in succession create the effect of a fluid movement, this is an illustration of the futuris t need to recreate the visual experience of motion.These ideas coupled with the mechanized and almost robotic form of the image alludes to the Futurists focus on industrialization of the world. The painting was initially rejected by the hanging committee of the Salon des Independents exhibition in Paris. Their reasoning for this was ‘a nude never descends a staircase a nude always reclines. ‘ The fact that Decamp was not adhering to traditional conventions was not accepted at this time. Many found the painting unintelligible because they did not recognize the figure at face value.But this was Duchess's intention to redefine representation in art. Today the art work is treasured as a symbol of the innovative practices associated with these modern styles. Light and color Traditionally light and color were artistic conventions used to create those optical delusions necessary to form a ‘realistic' image. The light source in a representational work would be realistic an d consistently come from one light source. Color was used only as a tool for portraying the effects of light on form through shade and tone.This toning gave form the weight and the illusion of three dimensions. However, in modern art the illusion of the description of form and the natural effect of light on an image was no longer a concern. Orphism changed how color was viewed as a tool for portrayal. This was a movement that found significance in the symphony of sensations that colors are able to stimulate when crafted together. Because modernist artists no longer wanted to be confined to naturalism they were free to experiment with the effect of the relationships of color.This involved the color theory of contrasting and complementary colors and the optimum placement of these colors together to enhance hues. Delaney, a key Orphism artist was able to develop these color techniques from his studies of a chemist, Michael-Eugene Chevron's treatise, On the Law of the Simultaneous Contr ast of Colors. This treatise dealt with the concept that a color is observed differently according to its surrounding colors. An example of a modern work based upon the use of the application of color techniques is Homage to Bibelot by Robert Delaney.This work contains various circular forms all made up of highly organized bright block colors. The colors of these circular forms, which are mostly primary, are surrounded by a background of opposing colors such as a yellow, green and red image surrounded by blue, red and green respectively. It is this complete contrast which illuminates the effect of the colors to a point where they are so much more successful in their specific function when Juxtaposed in this purposeful way. It is not only this illumination that the use of these color techniques create but a pictorial space.A depth is created by the advancing and receding of colors according to their characteristics. These techniques had not been used in traditional representational a rt and are another example of how these abstract artists redefined accepted artist conventions. Media The use of different media is also an example of the development of new practices in the art world which stemmed from the rejection of traditional practices. During the Cubist movement the introduction of new media was achieved through collage, eliding the purposeful rejection of the observed for the conceptual.Cubist artists began to incorporate new materials into their works such as strips of newspaper or wallpaper. This innovation was a monumental step away from traditional art. Picasso ‘Still Life with Chair Caning consists of sections of a kitchen scene, a knife, a lemon a glass. Within the painting Picasso has also incorporated a section of chair caning patterned oil cloth. Instead of portraying the image of a chair Picasso chose to use something that would stimulate the viewer's experience of the object.The cloth as significance in the work because the viewer can relate it to the image of a chair without the image of a chair being displayed. Picasso is no longer concerned about displaying any illusionist's craftsmanship; he found a material; that would evoke the image he wished to portray and chose to incorporate it into the work. As a result, the whole purpose of art was challenged; it was no longer to replicate an external observation ‘realistically but to portray the essence of an image through pictorial clues.The images in a work may have meaning but when a foreign material is introduced it has the ability to change those meanings. For example a glass cut from newspaper confusingly evokes two images in the mind. Picasso explains this example â€Å"If a newspaper can become a bottle, that gives us something to think about in connection with both newspapers and bottles, too. This displaced object has entered a universe for which it was not made and where it retains, in a measure, its strangeness.And this strangeness was what we wanted to make people think about because we were quite aware that our world was becoming very strange and not exactly reassuring. â€Å"This peculiarity activates the mind on a higher level. The evolution of art to involve new media is a natural progression by an art movement which aims to confront the conventions of representational art and to create works which stimulate a higher level of perception than ever before. Picasso also says in the same statement about the introduction of new media â€Å"We didn't any longer want to fool the eye; we wanted to fool the mind. This idea pretty much sums up the whole purpose of these modern works. Subject Even the subject matter itself in these forms of art worked to separate itself from traditional subjects. Many works incorporated images that would activate memories f the more mundane, relatable experiences of life. It is evident that the artists involved in these styles were challenging the idea that art had to be a glorification of something, s uch as the biblical frescoes often associated with traditional art or a work that aimed to be ‘pretty.This introduction of everyday life into art effectively broadened the accessibility of art to everyday people. It was no longer a craft only obtainable by those with the ability to render the illusion of realism perfectly, it was open to anyone who wished to capture the conceptual essence of a subject through art. It is this idea which democratic art making. For cubists, subject was a platform onto which experiments with space and form could be conducted. This isn't to say that subject wasn't still taken into consideration.The easily relatable subject matter in these works was a purposeful decision in order to make the portrayal of the desired experiences easier. This was initially a playful experiment by the artists who developed these abstract artistic conventions due to the fact that they ‘enjoyed exploring the tension between apparent abstraction and suggested repres entation. ‘ Their new conceptual ideals had lead to the distortion and abstraction of the subject matter but they incorporated artistic clues to evoke the image of the object..By viewing modern works associated with these styles and considering what they seek to express, it is apparent that unlike representational art which relies on observation, the subject is not fixed but is instead based on individual and unique encounters. The work Just has to present itself and the spectator becomes the decider of the meanings of the subject. In this sense the fact that a subject of a modern work could e open to interpretation and is not obvious, modernist art styles transcended the level of intellectuality that figurative art could produce.Modern works were free to move away for the burden of only being able to portray observable images. In terms of Orphism and Futurism these movements aspired to move away from the external manifestations of human life. ‘ While Futurism chose to f ocus on the force of a dynamic subject, Orphism broke subject down into the lyricism of color. These modern artists felt that they were able to employ the dynamic forces of life such as speed and movement as the subject of a work. The inspiration for this sort of subject matter was inspired by the new technology fuelled age which was more exciting and dynamic than ever before.Because of this changing world the artists were living in they felt the need to express their excitement about life through art. This meaner that the fixed images of settings, people or landscapes associated with representational art was abandoned. Many futurist works portrayed mechanized and robotic figures or symbols of industrialization and technology immersed in some sort of movement. In conclusion, modernist styles including Cubism, Orphism and Futurism challenged he practices of traditional representational art by creating art which was more conceptual and internally driven.This focus on conceptual repres entation of a subject lead to the development of new ideas about space, form, color, light, and media and how these conventions come together to portray a subject. This redefinition of representation is evident in the works produced by these modernist artists. In the search for the ability to portray more truthfully modern artists created an art form which was more intellectually intriguing than art the world had seen before By Yachtsmen And