Badlands National Park

Badlands national park is located in high Great Plains of southwestern South Dakota east of the Black Hills. The parks highest elevation is 3282 ft on Sheep Mountain; the lowest elevation is 2460 ft along Sage Creek. The park is nearly 244,000 acres and covered with sharply eroded buttes, surrounded by a mixture of grass prairie. Some of the major geologic attractions are the stunning landscape and the wildlife it quarters. The geologic origin of the park reveals that it was deposited in layers. The layers are composed of sediments such as sand, silt, and clay that have been cemented to form sedimentary rocks. The sedimentary rocks in this area were deposited during the late Cretaceous Period which was 67 to 75 million years ago. Deposition and erosion are geologic process that created the formation of The Badlands. Some of the formations that took place at the Badlands National Park are: †¢The Sharp formation is light in color and deposited by wind and water in the dry and cool climate that existed 28-30 million years ago during the Oligocene Epochs period. †¢The Brule formation is tannish brown in color and consists of bands of sandstone deposited by channels of ancient rivers that flowed in the Black Hills. This formation took place 30-34 million years ago also during the Oligocene Epochs period. †¢The Chadron formation is grayish in color and consists of fossils from early mammals like the three-toed horse and the large titanothere deposited by rivers across the flood plain. This formation took place 34-37 million years ago during the Eocene period. †¢The upper layers are Yellow mounds weathered by yellow soil and black ocean mud that have contained fossil sand, or paleosol. †¢The Pierre Shale is black in color and deposited by sediment filtered through seawater and black mud on the sea floor that hardened into Shale. This formation took place 69-75 million years ago during the Cretaceous Period. Some of the fossils found in the shale consist of clams, ammonites, and sea reptiles; that proved this was a sea environment. Badlands National Park has found fossils dating 23 to 35 million years old that contains the world's richest Oligocene epoch fossil beds. The Badland’s formation has helped geologist study the evolution of early mammal species such as horse, sheep, rhinoceros, and pigs. The best scientific knowledge of early mammals came from the Oligocene Period that last 23-35 million years ago. Some of the fossils that were found were: †¢Leptomeryx- deer like, small and fragile; had even toed hooves †¢Oreodonts- sheep like in appearance; name means â€Å"mountain tooth† †¢Archaeotherium- a distant relative of the pig had sharp canines †¢Hoplophoneus- distant cousin of the saber tooth tiger, size of a leopard †¢Subhyracodon- similar to that of a rhinoceros †¢Ischromys- a small squirrel like rodent †¢Metamynodon- a massive rhinoceros, like that of a hippocampus †¢Paleolagus- an ancestral rabbit The geologic time is illustrated below and represents the time represented in the park. (Stoffer, 2003) The biggest issue that faces the Badlands National park is weathering and erosion. This has been the major driving force in the formation of this park and will eventually make the buttes and the spires flat. Some of the other issues are non-native grasses and weeds growing out of control. This non-native grass is growing at an incredible rate and will eventually take over and kill the native grass. Increasing garbage and waste problems are an existing issue with the amount of visitors each year. Recent developments west of the park is causing air and water pollution that is effecting plant and animal habitants in the area.

Closed and Open Macro-Economy Systems

Closed And Open macro-economy Systems Todd Gray ECON224-1204A-04 Macroeconomics American Intercontinental University- Online In today’s business world it is important to understand the difference between an open and closed Macroeconomic system. Each time you go out to purchase a good or service you need to be aware of how your hard earned money is being distributed across the economic system. There are two types of systems that I will discuss an open system and a closed system. Closed System:In a closed system the money is caught up in a circular flow and is considered to be a closed system. When looking at the closed system you will notice right off that only the domestic exchanges are counted and the foreign agents are not counted within the closed system. In a closed system there should not be any leaks due to the fact that there are no foreign agents, government, or a system of savings or investments. Furthermore in a closed system there are no taxes, savings, or import ex penditures that are not returned to the economy.When look at examples of a closed economy you don’t have to look very far to find a good example is the Amish they produce all of what they need and only do business within their community there is no form of savings or taxes within the economic system. The goods and services are made of home grown materials and there is no imported materials used within the closed system. This is a very small system but a good example of the closed system at work. The inner flow in a closed system functions in the following way.Goods and services are delivered from the factories to the consumer and the land labor and capital is provided by the consumers to the factories. The outer flow in a closed system functions in the following way. Consumers provide the money to the factories and the factories provide the wages and rentals to the consumer. Open system: In an open economic system the good and services are counted that are exchanged both dome stically and between nations. One major difference is the introduction of leaks which can inject money into the open system.The money comes from the government, households and firms from the foreign countries that are traded with. Another type of Leak is the goods and services that the government purchases like building materials and office goods for example. The final type of leak is the money that households save it can be in the form of checking accounts or saved within the stock market and reinvested to increase the value of the money. In an open system there are a few ways that an injection of cash can happen and they are as follows.When foreign firms send wages to the United States firms and send rent payments for foreign workers staying in the United States this creates an injection within the system. The next type of injection occurs when foreign households purchase goods and services from the United States that have been produced by the American companies. In an open system the outer flow is as follows: The factories pay the employees the wages that they use to pay the rentals then the people that buy the products produced by the factories the factories then use those funds to stay in production.The inner flow of the open system works as follows: The people buy the goods and services and the factories use the money to purchase land to build more factories in order to provide for the people who are purchasing the products produced. In this same inner circle the government collects taxes from the people and the factories which is then injected back into the economy. Public services are provided to the people and the factories in exchange for the cash.A personal example of a leakage would be for myself to take the wages paid to me by my place of employment and places those wages into a savings account and not use them to purchase goods and services. A personal example of an injection would be providing a rental apartment to a foreign worker who is receiv ing the rent money from the foreign country. When I use this money to buy goods and services provided in the United States it injects that money back into the economy.References http://www. wisegeek. com/what-is-a-closed-economy. htm

Making the World a Better Place Philosophy 1001, Dr. Cara Nine

Making the World a Better Place Philosophy 1001, Dr. Cara Nine ‘Better Place’? ‘Making the world†¦ ’? Making the world a better place There are two sets of philosophical questions: 1. What is ‘good’ or ‘better’? (That is, what does a ‘better world look like and why? ) 2. What kinds of actions are ‘right’? (What are we justified in doing to bring about the good? ) Ideas of the good life Hedonism Desire Satisfaction Theory Objective Goods Theory Theories of Right Action Utilitarian Deontological Feminist Virtue Theory Cases Protesting Unjust Government Aiding an impoverished community Torture Letter to MenoeceusBy Epicurus (341-270 BC) Epicurus ‘Hedonism’ in popular culture http://www. hedonism. com/ Hedonism: Different kinds of desires. Just to be clear†¦ â€Å"It is not an unbroken succession of drinking-bouts and of merrymaking, not sexual love, not the enjoyment of the fish and other deli cacies of a luxurious table†¦ † For Hedonism: â€Å"For the end of all our actions is to be free from pain and fear† Intrinsic vs. Instrumental goods Instrumental good Intrinsic Good For Epicurus, Happiness is secured by: A tranquil emotional state. Example: We should not fear death Evidence : Misery clearly hampers the good life; happiness clearly improves it.But, is happiness what we want for our loved ones? I recall a talk by a doctor who described a patient of his (who had perhaps had a prefrontal lobotomy) as ‘perfectly happy all day long picking up leaves. ’ This impressed me because I thought, ‘Well, most of us are not happy all day long doing the things we do,’ and realized how strange it would be to think that the very kindest of fathers would arrange such an operation for his (perfectly normal) child. –Philippa Foot, Natural Goodness, p. 65 Desire Theory and Problems with Hedonism Hedonism Happiness is the only intrinsical ly valuable good. A happy life is a good life.The argument from evil pleasures Hedonism’s response: Happiness from evil actions IS as good as happiness from virtuous actions. The Paradox of Hedonism Happiness is like a butterfly—the more you pursue it, the more it eludes you. Be still and let it come to you. Paradox of Hedonism 1. If happiness is the only thing that directly makes us better off, then it is rational to single-mindedly pursue it. 2. It isn’t rational to do that. 3. Therefore, happiness isn’t the only thing that directly makes us better off. Argument from multiple harms: If hedonism is true, then you can be harmed by something only because it saddens you.You can be harmed in other ways. Therefore, hedonism is false. False Happiness Nozick’s Experience Machine Experience Machine Nozick thinks that the real life is clearly better, despite equal levels of happiness. What makes the real life better? Desires and The good We desire for our lives to be based in reality. This desire matters. Other desires matter, too. Desire Satisfaction Theory The good life is getting what you want. Something is good for you if and only if it satisfies your desires. Good things about desire-satisfaction theory Allows for a variety of ‘good’ lives. Good things about desire-satisfaction theoryPrioritizes personal autonomy and avoids paternalism Avoids objective values â€Å"objective† = fixed independently of your desires and opinions â€Å"subjective† = refers to your desires and opinions Motivation? Problems with the Desire Satisfaction Theory Getting what you want may not promote your good Desires based on false beliefs Fix! The desire must be based on informed beliefs. More Problems Dis-interested or Other-regarding desires Problems, cont. Disappointment: I was playing great tennis†¦ I’d finally taken my game to what felt like a notch above all my opponents’. It should have been greatâ₠¬ ¦ But it wasn’t.It felt hollow—It reminded me of the story of King Midas: My success wasn’t translating into happiness. –John McEnroe—(with James Kaplan, You Cannot be Serious) Impoverished Desires Objective Goods Theories of the Good Life Hedonism Desire Satisfaction Theory Objective Goods Theory Objective Goods Theory What is good is defined independent of your desires or opinions. Objective well-being concept: Income? The objective/universal approach defended Nussbaum’s approach http://www. youtube. com/watch? v=Qy3YTzYjut4 Appeals to ‘natural law theory’, that things are good when a thing fulfills its nature. Things are bad when they are unnatural.Solves (? ) Hume’s argument We can know only two sorts of claims: conceptual truths or empirical truths. Moral claims are neither conceptual nor empirical truths. Therefore, we can have no moral knowledge. Natural law theory’s response: If you know the nature of â⠂¬Ëœhuman’, and what it takes to fulfil our human nature, then we can know what is morally good. Options for objective goods: Happiness Options for objective goods: Autonomy Relationship with other objective goods. Essence of ‘human’ Possible problem with adding autonomy to the list: Cultural variations. But Do we have to be culturally relative? Options for objective goods:A sense of self Having commitments, likes and dislikes, values and goals. Options for objective goods: Morality Aristotelian virtue Human flourishing– â€Å"If you concern yourself not at all with what you owe to others or with what they need from you, you live in profound isolation. .. Morality is good for us because it †¦ gives me a kind of friendship not just with my friends but with everyone. † (Kazez 54) Martha Nussbaum: Basic capabilities. Life. Bodily health Bodily integrity. Senses, imagination, thought. Emotions. Practical reason. Affiliation. Other species. Play. Co ntrol over one's environment.Possible problem with the objective theory†¦ Utilitarianism Theories of Right Action What should I do or not do? Utilitarianism A brand of consequentialism An action is morally required just because it produces the best results. John Stuart Mill (1806-1873) Utilitarianism (1861) The quest for ‘the good’ is identified with the question of what is right and wrong to do. Mill writes: â€Å"All action is for the sake of some end and rules of action, it seems natural to suppose, must take their whole character and color from the end to which they are subservient. â€Å" (in other words†¦ The ends justify the means! ) 1.Rationality in choice of conduct is maximizing the satisfaction of one's chosen goal (or the goal that is best to pursue). 2. The rational goal of human striving is happiness, and happiness consists in pleasure and the absence of pain. I should do what maximizes happiness-for-me-over-my-entire-life. Acting effectively t o achieve this goal is being prudent. Prudence requires a kind of impartiality. So†¦ In merely individualistic terms: Ice cream NOW = 2 units of Happiness, and 3 units of Pain later. To maximize happiness over my entire life, I should not have ice cream now. But Mill’s utilitiarianism is universal project (not individualistic! 3. Human striving 4. The moral goal involves impartiality. One person's good counts the same, in the determination of what is to be done, as the same-sized good of any other person. 5. The moral goal equals the aggregate happiness of all persons. 6. So, moral rationality demands that we maximize aggregate human happiness. †¦ and animals? Problems†¦ Utility monster: Trolley Problem Trolley Problem Trolley Problem Trolley Problem Deontology Kantian ethics Immanuel Kant (1724-1804) What matters with regard to whether an action is right or wrong is what kind of an action it is. (The end doesn’t justify the means! )Kantian Deontology Pe rson’s essence = autonomy Autonomy = self+rule Ethical principles follow logically. Consistency and Fairness Equal with regards to our autonomous rational personhood. What if everybody did that? How would you like it if I did that to you? Problem Case If disastrous results would occur if everyone did X, then X is immoral. Redescribe the act? But this makes the morality of an act merely a matter of its description. Kant’s answer: The Categorical Imperative (version 1): Act only according to that maxim by which you can at the same time will that it should become a universal law. Is a maxim universalizable?Formulate your maxim clearly. Imagine a world in which everyone supports and acts on on your maxim. Then ask: Can the goal of my action be achieved in such a world? Example: Lying The universalized maxim of lying generates a contradiction. Categorical Imperative (version 2): The Principle of Humanity Act so that you treat humanity, whether in your own person or in that of another, always as an end and never as a means only. Persons are rational agents The moral law is the law of reason So we rational beings are beyond value since we are the sources of value ‘Means’ only: Used as a means AND respected as rational agent at the same time: problems with the principle of humanity: The notion of treating someone as an end is vague. 2. The principle fails to give us good advice about how to determine what people deserve. – punishment and Lex Talionis (Law of Retaliation) 3. The principle assumes that we are genuinely autonomous, but that assumption may be false. Baron d’Holbach The Argument Against Autonomy 1. Either our choices are necessitated or they are not. 2. If they are necessitated, then they are out of our control, and so we lack autonomy. 3. If they are not necessitated, then they are random, and so we lack autonomy. 4.Therefore, we lack autonomy. 4. The principle cannot explain why those who lack rationality and auto nomy are deserving of respect. – What is the scope of the moral community? Argument against animals 1. If the principle of humanity is true, then animals have no rights. 2. If animals lack rights, then it is morally acceptable to torture them. 3. Therefore, if the principle of humanity is true, then it is morally acceptable to torture animals. 4. It isn’t. 5. Therefore, the principle of humanity is false. Feminist Ethics â€Å"The male is by nature superior, and the female inferior; the one rules, and the other is ruled. –Aristotle â€Å"As regards her individual nature, each woman is defective and mis-begotten. † –Aquinas â€Å"[W]omen must be trained to bear the yoke from the first, so that they may not feel it, to master their own caprices and to submit themselves to the will of others. † –Rousseau â€Å"†¦ laborious learning or painful pondering, even if a woman should greatly succeed in it†¦ They will weaken the charm s with which she exercises her great power over the other sex†¦. Her philosophy is not to reason, but to sense. † –Kant Feminist Ethics Previous (male-dominated) philosophy: Made false claims about women.Identified female with nature/animals and male with reason/human. Ignored female experiences and perspectives. Un Chien Andalou , 1929 silent surrealist short film by the Spanish director Luis Bunuel and artist Salvador Dali General Approach: Women are the moral equals of men. â€Å"The right to life of women in Pakistan is conditional on their obeying social norms and traditions. †Ã¢â‚¬â€œHina Jilani, lawyer and human rights activist 2. Experiences of women deserve our respect and are vital to a full and accurate understanding of morality. Some statistics: Women’s nominal wages are 17 percent lower than men’s.Women perform 66 percent of the world’s work, produce 50 percent of the food, but earn 10 percent of the income and own 1 percent of the property. 3. Traits that have traditionally been associated with women are at least as morally important as traditionally masculine traits. 4. Cooperation, flexibility, openness to competing ideas, and a connectedness to family and friends, are often superior to ways of reasoning that emphasize impartiality, abstraction, and strict adherence to rules. Lawrence Kohlberg’s 6 stages of moral development: Moral Development: Gilligan Women fared poorly on Kohlberg’s model. Advancing to only around stage 3. ) Women tend to think and experience the world differently than men. Gilligan’s model or moral thinking: In A Different Voice Women’s Experience Justice is†¦. blind Dr. Denis Mukwege tries to restore dignity in Congo. Women’s Experience: Vulnerability to Rape Major-General Patrick Cammaert, former commander of UN peacekeeping forces in the eastern Congo: â€Å"It has probably become more dangerous to be a woman than a soldier in armed co nflict. † Perceptions of rape in war: From: something that is inevitable when men are deprived of female companionship for prolonged periodsTo: an actual tactic in conflict. Effect on victim: Rape is always torture. Women’s Experience Increased dependence and diminished autonomy. Fewer choices and less control over important aspects of their lives (than men). Central fact of most women’s lives is their dependence. Consider a moral assumption: stand up for our rights and defend our honour against attacks: Does a woman stand up to an abusive husband, knowing she may be killed, have her children taken away from her, not know where her next meal will come from? Not just women We all are deeply connected with others.Moral philosophy that pretends that we are fully autonomous beings without dependent relationships fail to take an important part of human life into account. Ethics of Care Importance of Emotions â€Å"Reason is a slave of the passions. † –Da vid Hume Motivates. Helps us Understand (Sympathy/Empathy) Care: combination of sympathy, empathy, sensitivity, and love. Particular vs. Universal Describes our obligations. Particular obligations = I have them only to particular people. Universal obligations = I have them to all persons. A strict version of Ethics of Care theory denies the existence of universal obligations.Ethics of Care: Moral obligations come from RELATIONSHIPS. Relationship roles will sometimes require of you conflicting actions. There is no easy formula. Problems with the Ethics of Care: Must be supplemented by other theories. Or risk restricting the scope of the moral community too much. Role of emotions needs further exploration. Downgrading impartiality has its costs. Review Theories of ‘The Right’ Utilitarianism Theory Pleasure/freedom from pain is the only intrinsic good. An action is morally required just because it produces the best results. Rationality Impartiality Maximize human happiness UtilitarianismPositives Intuitive Matches good with the right Equality Useful for social policy Utilitarianism Negatives Utility monster Animals? Conflicts with Justice Deontology Theory (Study of Duty) The end doesn’t justify the means Derived from Autonomy (self + rule) Deontology Categorical Imperative 1: Act only according to that maxim by which you can at the same time will that it should become a universal law. Deontology Categorical Imperative 2, The Principle of Humanity: Act so that you treat humanity, whether in your own person or in that of another, always as an end and never as a means only. Deontology PositivesExplains duties of justice Clear rules Equality Intuitive Deontology Negatives Principles difficult to apply Problems with autonomy Scope? Feminism Theory Men and women are moral equals. All of human experience deserves our attention/respect. ‘Feminine traits’ are as morally relevant as ‘male traits’ Interpersonal ways of moral re asoning are often superior to abstract, universalized, rule-governed moral reasoning. Care/Relationships Feminism Positives Embraces full account of human experience Can account for interpersonal moral reasoning, dependence. Feminism Negatives Problems with accounts from emotion Downgrades impartiality

Regulation of Commercial Banking Case Study Example | Topics and Well Written Essays - 2000 words

Regulation of Commercial Banking - Case Study Example The purpose of such banking regulations, the justification for having such regulations and the extent to which these regulations are implemented in banking customs across the world are studied in some detail. Bank regulations comprise of government regulations that sets out certain requirements and rules, restrictions and guidelines, that banks, of different countries are supposed to follow to maintain the integrity of the financial system. Bank Regulations in the US is not as closely knit as in other countries and the regulators could be Federal Reserve Board, or other state regulatory bodies. The banking regulations across the world are focused not just on safety and security but also on privacy of customers, disclosure issues, anti money laundering issues, anti terrorism issues, promotion of lending to lower income groups, and fraud prevention. Different cities tend to have their own financial regulation laws and these laws are in place to allow governments and banks to work closely in matters related to national security and financial needs. The Bank Secrecy Act or BSA requires financial institutions to assist government agencies to detect money laundering practices. Financial institutions tend to keep records of cash purchases and file reports of transactions above a certain amount. These institutions are required to report suspicious activities of money laundering, fraud, privacy intrusion and tax evasion as well as other criminal activities to the government and appropriate authorities. Financial institutions are also required to invest in communities and a file must be maintained on the support provided to communities. Financial institutions are required to disclose data about home purchases, home finance, home purchase and pre-approvals, home improvement, and refinance applications as well as multifamily dwellings in accordance with the Home Mortgage Disclosure act. Apart from this and the Community Reinvestment Act, there are Reserve Requirements for certain Institutions. The reserve requirements indicate the minimum reserve that banks must have so that this money as deposits could come to some use during severe recession. Barrios and Blanco (2003) analyses the extent to which banking firms set their rates of capital equity over assets and have developed two theoretical models that tend to demonstrate capital ratio for firms which are affected and not affected by capital regulation. Freixas and Santomero (2002) use the regulatory theory to analyze the theory of banking regulation and consider the justifications of financial intermediation to identify market failures that would make certain banking regulations necessary. The analysis of regulation tends to compare within the domains of banking and industrial organization and shows why banking regulations act as a safety net for banks and why and how it should be structured in a way that could make banking systems more efficient. In a study by Hendrickson and Nichols (2001) annual bank insured data were utilized from 1936 through 1989 to evaluate bank regulations and bank risks with cross country comparisons. A bank tends to operate in a

The State of Accounting Convergence Among Large Public Companies Thesis Proposal

The State of Accounting Convergence Among Large Public Companies - Thesis Proposal Example â€Å"The international standard-setting process began several decades ago as an effort by industrialized nations to create standards smaller nations unable to establish their own accounting standards. The regulators, investors, large companies and auditing firms began to realize the importance of having common standards in all areas of the financial reporting chain† (International Financial Reporting Standards (IFRS): An AICPA Backgrounder n.d., p. 2). The union among the countries includes the European Nations (Larson & Street 2004) and China (Qu & Zhang n.d). Many of the large public sector companies all over the world have been against the adoption of the new standard for a number of reasons. Till today, the precise reasons for the opposition and objection for the new accounting standard convergence are not clearly understood. The main idea of the dissertation is a theoretical explanation of the weighted resistant factors. The above research questions need to be addressed through an investigation. The researcher will conduct research by means of literature review on accounting convergence. The literature will comprise of researches on the delay in accounting convergence. Hail, Leuz, and Wysocki (2009) identified transition costs as a major factor in the reluctance of U.S companies to move towards convergence. The literature will also include official explanations of what convergence is and why it is being implemented (AICPA, 2011 & 2010). No hypotheses are associated with the research question, as an exploratory Delphi method will be used to generate the factorized and weighted list. The Delphi method has been frequently used with experts in accounting and financial analysis, as a means of generating factorized lists of adopted reasons. (Alwert, Bornemann & Will 2009). The dissertation will be valuable for committees that are working towards promoting accounting convergence as

Applying Research assessment 2 Essay Example | Topics and Well Written Essays - 2000 words

Applying Research assessment 2 - Essay Example This report deals with the research methodology of an article named â€Å"Blowing The Whistle on Police Violence† written by Louise Westmarland which was published in British Journal on Criminology in 2001. â€Å"This article highlights a number of issues related to the witnessing of ‘illegal’ police violence by researchers† (Westmarland, 2001). The researcher focuses on a very sensitive issue i.e. the violence committed by police. The main purpose behind this research was to make the general population including the higher authority aware of the violence propagated by police so that a mass awareness can be developed against it. This article uses the ethnology study to reason out the factors for these types of violence. It unfolds many facts regarding the various degree of violence. This report will discuss the research methodology applied by the researcher and the extent to which this methodology is feasible for this subject. The validity of the outcome of this research will undergo various critical studies and suitable recommendation will be discussed and analysed. Westmarland in his article has identified the specific behaviour of police that lead to violence in society. This research can be termed as the outcome of the ethnographic research. The researcher has devoted a considerable amount of time to study the police violence through the ethnological study. Westmarland has himself been a first hand witness to various situations as a fieldworker and therefore have seen the situation more clearly. The fieldworkers are appointed to observe the real life violence committed by police. To analyse the qualitative aspects like human behaviours the ethnographic research plays a very significant role. â€Å"One primary difference between ethnography as science and other social and behaviour science methods of investigating is that ethnography assumes that we must first discover what people actually do and the reasons they give for doing it before

Compose a narritive Essay Example | Topics and Well Written Essays - 1000 words

Compose a narritive - Essay Example Conflict is inevitable at work because individuals have diverse views on the operations of an organization. Some individuals may support the decisions made by employers while others tend to disagree. An effective leader has the capacity to recognize the existence of a conflict and comprehends its nature. I was frustrated with the boss because he did not respond to some issues regarding the tracking system. This system requires adequate maintenance every month to ensure that operations run smoothly and efficiently. Only high skilled personnel can operate this system and they end up charging huge amounts of money. Some preceding months ago, my employer complained of the high maintenance costs and insisted that he would withdraw the system. This angered me because that action would mean that I would now perform the daily tasks manually. I have been complaining regarding the effectiveness of the system since its implementation telling him that it requires monthly maintenance, but my empl oyer kept on dismissing my utterances because he did not like spending huge amounts of money on maintenance. My employer never understands that expenses are inevitable in any organization. My employer’s reluctance was the prime reason that propelled the emergence of a conflict between us. Additionally, it was a conflict based on disparity in priorities. He is inattentive to subordinates’ concerns and hates listening to information about any weakness within the organization. Even though I demand a lot, I am very loyal and dedicated to my job, but my employer tends to frustrate me when he ignores the fact that the system requires monthly maintenance. I would return home annoyed because of daily arguments with my employer but would report the following day assuming nothing had happened at work. It never dawned on me that I needed to settle the issue with my employer though this conflict affected my performance at work. I would avoid interacting with him, and each time I n eeded some assistance on how to undertake some complex tasks, I would consult my fellow employees. They did not hesitate to assist me because they were aware that I did not like associating with him after he started undermining my concerns. Additionally, I noted that my refusal to deal with the conflict affected my association with my family members. At times, I could transfer my temper to my young innocent siblings and nearly beat them up for no apparent reason. I hated myself for behaving awkwardly towards my family though I knew that the problem was because of my ineffective relationship with my employer. Moreover, I realized that this conflict interfered with my ambitions because I lacked the motivation to pursue my goals. I became resentful of my job and felt that it did not match my capabilities. It was now clear from my family and fellow employees that they wanted me to alter my attitude. My fellow subordinates advised me daily that I needed to end my conflict with the boss t o avoid facing dire consequences. Deep down, I knew that the conflict emerged because of ineffective leadership of my employer. A leader needs to set a good example by articulating his accomplishments, behaving ethically, and supporting subordinates. According to (Picard 22), a leader should facilitate conflict resolutions because conflicts can distract subordinates and this may impede with the organization’

The role of slavery the global economy today Essay

The role of slavery the global economy today - Essay Example ng labor at really low cost or free of service in some cases and incur little expenses simply in the form of food which is not even provided daily and in most cases provided to them only once in a day despite the excess work they are being forced to carry out. Slavery in the Middle East countries for example is in the form of domestic work at home. These individuals who are rich because of oil money mistreat these domestic workers by making them work unfairly long hours from early morning even before day break to late at night. They have extensive homes with very few workers to provide care for cleaning, washing, doing dishes, ironing, cooking and feeding their pets in addition to taking care of their children. Very many people live in one house and they are also very fond of entertaining guests. All this work which should in the real sense be provided by over six workers with the aid of machines is left for one individual and they are not given food. The usage of expense money for the masters is therefore reduced as they do not have to purchase the machines to make work easier or pay excessive electricity bills or provide monetary payment for the domestic worker (Pattisson, 2015). Forced labor is an eminent issue in some of the European nations such as France, Netherlands, Germany, Italy, Poland and Spain among others and the government has contributed greatly to it and is doing nothing to stop it. The tough immigration and labor laws have made many immigrants lack better employment opportunities making them become slaves through being forced into labor. They are exploited with little pay while the owners of the industries and factories where they work in (as that are where majority work), enjoys the increased productivity with minimal expenses of wages and salaries being incurred (Kelly, 2013). Many work also for long hours without any extra pay once their official shifts end which is illegal but the law does not take that into consideration. The fact that the

HR speech and written report Essay Example | Topics and Well Written Essays - 500 words

HR speech and written report - Essay Example The challenge in this case is that if it decides to look for labor offshore, it risks thrashing from the Clothing workers Union (CWU) and the government that has invested a lot of funds into the clothing industry so as to enable the sector offer employment to the local population. According to Czenter (2010), clothing and textile industry is one of the highest employing industries especially for the low skilled labor force in a majority of the countries. Similarly, for OZ as a company that wants to continue being in business must appreciate the role they play in the industry and should, instead of dodging reality, adapt to techniques that will see them make profit while at the same time ensure work tenure for their labor force. The FWA has a core mandate of ensuring the security of workers tenures. In this regard, it will make it its business to indulge in the affairs of OZ clothing so long as they, in any way, try to curtail the working conditions of the workers. OZ clothing faces stiff industrial relations in as far as its case is concerned. With FWA at its neck, it has to work with the labor force it has. It is critical that other strategies other than cutting the services of the labor force must be adopted. It is essential that OZ clothing must become more innovative so that its clothing products meet the competitive threshold in the market so that they can favorably compete with those from other regions like China. Just as (Czenter,2010) notes in her Essay , â€Å"labor market and globalization† that reduction of work force does not mean that customers will cease to demand the same level of output or even the same quality of the product, it thus becomes necessary that OZ restructure to become relevant in the market. This they can do by engaging in value addition strategy. Their clothe lines should appear to have superior to those offered in the market by other players like the

Supervision Assignment Example | Topics and Well Written Essays - 250 words

Supervision - Assignment Example Training supervision is meant to gauge and evaluate the candidate’s ability to transfer theory learnt in class to practice in applied setting. General work supervision seeks to ensure professional standards are met with focus on client interest and level of supervisee competency for further certification. In training supervision is done by trained teaching personnel and marks awarded while general work supervision is done by senior supervisors in the applied setting through routine quality checks on performance. An individual must possess an associate degree or a comparable experience in the field of human service work .However; the candidate must have attained a GPA which meets the minimum standard of the Board. Persons with not less than 60 college units and not less than 4 courses which are relevant with counseling or social work is eligible for license as long as they secure a job in counseling social work. However, if one does not possess college certificate, they must work for a whole year under the supervision of Bachelor’s Social Workers or Master Social Workers. Supervision ensures that standards of professionalism in service delivery are met. This help in promoting a candidates competency and experience while at the same time protecting the interest of the client. It offers an opportunity to discover one’s potential and enhance competitiveness and compliance to the set down rules and regulations. Some of the ethical dilemma includes reconciling professional requirements with the need to form an informal relationship with the clients. Besides, supervisors are expected to be strict on academic requirements sometimes against the possibility of better practical ability that one may

Philips Electronics Singapore Essay Example for Free

Philips Electronics Singapore Essay Manufacturing of common everyday utilities that span from household appliances, business equipment, and industry machineries require massive labor force that may span from a few hundreds to several thousands. This type of organization would typically have a wide operational staff base as there is the need to deal with production of goods. This is followed by different management levels and the top management whose functions vary from one another. A very important aspect in the landscape of organizations, to which manufacturing is not an exemption, is motivation as it has a direct impact on the organizational and individual effectiveness. Motivation in work, according to Muchinsky (2006), is in reference of the use of the different motivational strategies in the workplace. Furthermore, the same author, in the discussion of work motivation, included the following statement: Work motivation is a set of energetic forces that originate both within as well as beyond an individual’s being, to initiate work-related behavior, and to determine its form, direction, intensity, and duration. (Pinder as cited in Muchinsky, 2006, p. 381). Motivation inside the workplace is said to take on different forms and strategies that are identified based on the management style, needs of the organization, characteristics of the employees, and the nature of the organization. The definition mentioned above places a wide scope that reaches all sectors and all levels in the work industry and likewise places emphasis on the fact that this is geared towards the goal of improving the productivity of the employee, which is a view espoused by the Scientific Management (Kelly-Heidenthal, 2002). On the other hand, with the introduction of the Human Relations perspective, work motivation shared a slightly different view from that of the Scientific Management era where the focus is now placed on the employee and their individual needs (Kelly-Heidenthal, 2002). The Human Relations perspective, the forerunner of which is Elton Mayo with his Hawthorne study, places a new element which is job satisfaction as â€Å"a major determinant of productivity or performance† (Hoque, 2006, p. 20). The component of job satisfaction, being an important aspect in productivity and performance, is a major consideration in the motivation strategies (Doran, 2003). New trends in motivation have led managers to continually seek for creative ways to motivate their subordinates according to their needs. These new trends are composed of a mix of the older theories that continually evolve to suit the emerging needs and new trends in the field today. Background of the Organization The Organization  In the year 1951, Royal Philips Electronics, which was established in Eindhoven, the Netherlands in the year 1891, decided to give birth to Philips Electronics Singapore by setting up one of their branches in the said country (â€Å"Philips in Singapore,† n. d. ). The company served as one of the â€Å"pioneer investors in Singapore and has been in the country for 56 years† and it received its status of an Operational Headquarters 38 years after its inception (â€Å"Philips in Singapore,† n. d. ). The organization has received several awards that are indicative of their outstanding performance as recognized by different sectors. The organization received three awards from the Singaporean government namely the Distinguished Partner in Progress Award in 1992, Singapore Quality Award for its Philips Tuner Factory in 1998, and Singapore Quality Award for the Domestic Appliances and Personal Care Factory in 2000 (â€Å"Philips in Singapore,† n. d. ). Likewise, the company was able to earn the Singapore Innovation Award for its Video and Multimedia Applications division in 2006. In the same year, the Domestic Appliances and Personal Care Factory became a finalist in the Manufacturing Excellence Award and received the Singapore Advantage Award for the said event (â€Å"Philips in Sinapore,† n. d. ). Their sterling record with regard to the field of human resources development is, likewise, recognized by the National Trades Union Congress and they were given the May Day Plaque of Commendation – Gold Award in the year 1995 (â€Å"Philips in Singapore,† n. d. ). In consonance with the award given by the National Trades Union Congress, Philips continues to wield its way into becoming the preferred employer, according to the Ministry of Manpower (2007). The company does this by fostering an environment that leads to an organizational culture where people are oriented towards their performance, provision of incentives driven by market, and a holistic approach with their theme of â€Å"think total rewards† (Ministry of Manpower, 2007). The 4 Value Statements The said company espouses 4 values that they carry with their mission and vision. These values are to delight the customer, deliver on commitment, develop our people, and depend on each other. As can be discerned from the values mentioned above, they are after the welfare of the stakeholders they feel accountable to and thus, adhere to a holistic approach to their endeavors. Likewise, this confirms their â€Å"think total rewards† statement where they show that they are a company that is meant to address the concerns of the different sectors that they continuously interact with. Organizational values are considered as the â€Å"values that are shared to some extent across a firm† (Gillilan et al. , 2003, p. 6). Organizational values are at times equated to two things: a) the culture of the organization and b) the values that the top management holds (Gillilan et al. , 2003). For Philips, their values are carried by almost everyone in the company as they carry out their responsibilities and serves as their guiding principle, which extends to the organizational culture. It should be noted that organizational culture defines how the members of the organization do things or accomplish their tasks (Muchinsky, 2006). The Activity Groups The company has four main activity groups namely the Philips Innovation Campus, the Regional Competence Centers, the Sales Organization, and the Industrial Operations and Support (â€Å"Philips in Singapore,† n. d. ). These activity centers serve as the gateway for learning, training, support, and production for the company to ensure that it goes well with its operations. The Products  It concentrates on electronic consumer products that include home entertainment system components, personal computer products, communication gadgets, household appliances, accessories, lighting, and a few professional products and services (â€Å"Philips,† n. d. ). The list of professional products and services cater to the medical sector, businesses with special needs, and lighting (â€Å"Philips,† n. d. ). The presence of the brand has enabled it to establish its reputation as a maker of electronic goods and continues to be such after more than a hundred years since it was first created, which as in 1891 (â€Å"Philips in Sinpapore,† n. . ). The stability of the company is attributed to the fact that they have scattered their specialties into different fields and this diversity provides a stable support for its overall structure. The Challenges The company faces several challenges which stem from internal and external sources. First, there is a need to make sure that they always have their best foot forward with regard to their Human Resources policies while looking into its impact for the concerned stakeholders. With the previously mentioned desire of the company to become the first in terms of employee preference, they always keep abreast of the trends and issues that the field is facing. Their HR department needs to identify these issues, the impact to the employees, and measures to mitigate the effects. Some of these global issues include cultural diversity and negative work behaviors that sometimes lead to disruption in the workplace. Second, the company, despite their efforts to foster a healthy and fair working environment, also has to deal with employee turnover. According to Mathis and Jackson (2006), turnover is the â€Å"process in which employees leave an organization and have to be replaced† (p. 73). Employee turnover is inevitable to an organization as the present generation of workers, the Generation X, considers job-hopping as â€Å"essential for advancement† (Lovely et al. , 2007, p. 52). Likewise the Millenials group, the phenomenon is predicted to become ordinary for them (Lovely et al. , 2007). Since job-hopping can not be prevented as it has become a characteristic of the organization, the need for programs and policies that enhance employee retention is greater for the organization’s HR department. With the nature of the organization where they are in need of the talents, as well as the manpower, they should be able to retain the best of the best as the competition and the need to stay updated among the current trends in the technology would mean that they have to keep the greatest minds and the most efficient and skilled workers they have. For example, an employee working on the technical department such as an engineer who becomes their asset would be a big loss for them if he/she decides to move on to other careers and other organizations. This turnover of employees would also mean a turnover of skills, knowledge, and abilities from their organization to another. Likewise, the cost for employee turnover, according to a survey of employers, 45% of them reported that they incur a cost of more than $10,000 for every employee who leaves the company because of this phenomenon (Mathis Jackson, 2006). The cost for Philips Electronics Singapore would vary certainly depending on the value of the person to the organization and the amount they spent to invest in the employee’s skills and training. Likewise, the disruption of work operations and the need for the remaining workers to take on increasing volumes of work also poses certain costs for the company (Locke, 2000). The said problem of turnover is to be addressed through the assessment of employee motivation (Orlikowski, et al. , 1996). The interlocking relationship between job motivation, job satisfaction, and employee retention is at the forefront of the HR concerns of Philips Electronics Singapore due to their nature and the competitive industry they are in. The Nature of the Electronics Industry The Singaporean economy is a very dynamic economy buzzing with life and competition stays firm for the few multinational companies who sell and produce electronic goods. There is a wide product base in the said industry of the country that includes from the smallest computer chip to automated industry machineries. The different companies in the electronic industry of Singapore account for one third of the entire manufacturing sector of the country and utilizes 25% or a quarter of the labor force to continually produce the goods being demanded in the local and international market (â€Å"Electronics,† n. d. ). The massive output of the industry enables it to have a fair competition in catering to the needs of a greater population. They are not restricted to one sector or one locale but is rather responding to global demands that even reach outside countries and this makes creating demand easier. Likewise, the general reach of the products has created a ready market for the producers and the only thing they have to deal with is the brand preference that the customers have with respect to a number of considerations that include quality and affordability. In addition to this, the industry also has the responsibility of taking their products to greater heights with the purpose of making life easier for their clients. Modern technologies incessantly come into existence through laborious research and development. The electronics industry of the country relies on the new breakthroughs they meet through their research facilities for them to provide innovative solutions to different needs of the society. According to the Economic Development Board chairman Lim Siong Guan, â€Å"given the cost factors in Singapore, we’re going for capital-intensive, knowledge-intensive, innovation-intensive activities† (as cited in â€Å"Singapore – Base for Complex Manufacturing,† n. d. ). The statement of the EDB chairman and the focus on innovation emphasized by Philips Singapore runs parallel with one another.

TV and Film Violence Essay Example for Free

TV and Film Violence Essay Does the violence in films and on TV contribute to violence in society? This question has been debated for decades. During that time some 2,500 books and articles have been written on the effects of TV and film violence on human behavior. In this article were going to summarize some the latest thinking on this subject. The results of one of the most extensive studies ever done on the subject of violence and TV were released in 2003. Researchers followed 329 subjects over 15 years. They found that those who as children were exposed to violent TV shows were much more likely to later be convicted of crime. Researchers said that, Media violence can affect any child from any family, regardless of social class or parenting. Girls who watched more than an average amount of violence tended to throw things at their husbands. Boys who grew up watching violent TV shows were more likely to be violent with their wives. Researchers concluded in Developmental Psychology that, Every violent TV show increases a little-bit the likelihood of a child growing up to behave more aggressively. Well look at more of the research in a moment. Canada was one of the first countries to extensively research this issue. The results of their studies prompted some of their engineers to devise the V-Chip. As you may know, the V-Chip allows parents to lock out TV programming they consider objectionable to their children. Although the concern in Canada was primarily violence (hence the V-chip), in the United States there is also great concern about sexual content probably more than in most other industrialized societies. Hence, the V-chip can be programmed to screen out both violence and sex. Cause-Effect Proof A clear cause-effect relationship between media violence and violence in society is complicated by the fact that children are typically exposed to many stimuli as they grow up, many of which could play a role in later behavior. For example, during a childs life we cant discount the role of such things as violent video games, the social values of parents and peers, or general living conditions. If you eat something that you have not tried before and immediately get sick, you will probably assume theres a direct relationship between the two. And if at some later date you forget about your first experience and eat the same thing again, and immediately get sick again, you can be fairly sure that whatever you ate makes you sick. No rocket science here, just clear cause and effect. Unfortunately, when it comes to violence in the media, the cause and effect is not as readily apparent. A few decades ago you would see doctors in TV commercials endorsing a particular brand of cigarettes. Many medical doctors smoked. Not today. Today the evidence is clear: smoking is the number one cause of preventable heath problems and premature death in the United States. Although for years the cigarette manufacturers suppressed evidence that linked smoking to health problems, eventually the cause-effect relationship became obvious to anyone who wanted investigate the facts. Unlike the cause and effect in the example of your eating something and immediately getting sick, the effects of cigarette smoking arent immediately apparent. Its only years later that many smokers develop lung cancer, heart problems, emphysema, sexual problems, etc. In the same way-after looking at years of accumulated data-were now recognizing a relationship between violence in the media and social problems. The results of a study released in March, 2002 that tracked 700 male and female youths over a seventeen-year period showed a definite relationship between TV viewing habits and acts of aggression and crime in the later life. All other possible contributing environmental elements, such as poverty, living in a violent neighborhood, and neglect, were factored out of this study. According to one of the authors of the study, the findings help cement the link between TV and violence. The study is detailed in Science. | Violence and TV Ratings Its well known that TV violence holds an attraction for most viewers and this attraction translates into ratings and profits. Because of this, most media executives have been reluctant to admit that media violence is in any way responsible for violence in our society. If it werent for the ratings and profits involved, producers would undoubtedly be much more willing to acknowledge the harm in TV and film violence and do something about it. After many high school students died in a shooting rampage at Columbine High School in Littleton, Colorado in April, 1999, many people were quick to blame the media. Violent video games and a well-known film were seen as contributing factors. Even so, a clear cause and effect is hard to establish. For example, millions of young people were exposed to both of these influences throughout their lives without going on a murderous rampage. But when you add extreme anger, easy access to guns, and an indifferent and amoral attitude toward the lives of others, the results can be very different. In 1992, TV Guide commissioned a study of a typical 18-hour TV broadcast day to determine levels of violence. The networks and the more popular cable channels were monitored for purposeful, overt, deliberate behavior involving physical force or weapons against other individuals. There were 1,846 acts of violence that broke down this way.

Indias Foreign Exchange System: An Analysis

Indias Foreign Exchange System: An Analysis CHAPTER-2 LITERATURE REVIEW 2.1 Introduction: It is a fact that the currencies of different countries have different values that is based upon their actual economic and monetary strength. It is from this difference that the genesis of foreign exchange occurs. Foreign exchange can be termed as the act of matching the different values of the goods and services that is involved in the international business transaction process in order to attain the exact value that is to be transferred between the parties of an international trading transaction in monetary terms. Foreign exchange as an activity had started the day civilization and independent principalities got established in the world. But in those days it was a case of exchanging value in the form of transfer of goods and services of identical value that is commonly identified with barter system. Moreover the transactions were done on a one-to-one basis, and the terms and conditions were determined by the parties entering into such transactions. There was no universal system or rule that determined these transactions. In that way foreign exchange and international monetary system is a modern day trend that gained an institutional form in the first half of the twentieth century and has been developing since then. 2.2 Foreign Exchange: According to International Monetary Fund (IMF), Foreign Exchange is defined as different forms of financial instruments like foreign currency notes, deposits held in foreign banks, debt obligations of foreign banks and foreign governments, monetary gold and Special Drawing Rights (SDR) that are resorted to make payments in lieu of business transactions that is done by two business entities or otherwise, of nations that have currencies having different inherent monetary value (www.imf.org). Leading economist Lipsey Richard G.,1993 has mentioned that the foreign exchange transactions are basically a form of negotiable instrument that are resorted to deliver the cost of goods and services that form a part of trading transactions and otherwise, between business and public entities of nations of the global economy. Sarno, Taylor and Frankel, 2003 gives the definition of foreign exchange as denoting the act of purchase and sale of currencies of different economies that is performed over the counter for various purposes that includes international payments and deliverance of cost of various business transactions, where the value is usually measured by tallying the value of the currencies involved in the foreign exchange transaction with that of the value of U.S. Dollar. According to Clark and Ghosh 2004, Foreign Exchange denotes transactions in international currency i.e. currencies of different economies. In such transactions the value of a currency of one country is tallied and exchanged with similar value of the currency of the country in order to exchange the cost of a business transaction or public monetary transfer that is taking place between two entities of these economies. 2.2.1 Foreign Exchange Transactions: Transactions in foreign exchange are done through various types and various modes between different countries of the world. According to information mentioned in the Reuters Financial Training Series, 1999,TOD Transactions, TOM Transactions, Swap Rates, Spot Rates, Forward Rates, Margin Trading and Buy / Sell on Fixed Rates foreign exchange transaction methods are some of the commonly used methods that are widely used by global managers for their foreign exchange transaction activities. 2.2.1.1 TOD Operations: TOD Operations are foreign exchange transaction methods where the trader uses the exchange rate of the day on which the foreign exchange transaction order is to be executed. In other words TOP operations are commonly used in intra-day foreign exchange transactions. As a result they are commonly resorted to by speculators in foreign exchange transactions and those who general speculate on the rates of different foreign exchange markets of the globe. 2.2.1.2 TOM Operations: In this type of transactions the transaction process carried forward to the next day instead of it being an intra-day trading. TOM transactions rate is fixed on the day the transaction is signed, but the rate of exchange is agreed upon to be that of the next day. 2.2.1.3 SPOTTransactions: SPOT Transactions can be compared with TOM transactions because here also the exchange rate is fixed at a value that prevails over the exchange rate of intra-day trading of shares. But SPOT transactions have been separated as a different category because unlike TOM transactions, SPOT transactions contracts are executed on the third day after the signing of agreement between the Bank and the client. 2.2.1.4 Forward Contract: Forward contracts are those exchange rate contracts where the currency conversion exchange rate agreement is decided at a certain rate at a time that is well before the date of execution of the exchange contract. In that way they are similar to TOM transactions. The only differ from them in the fact that these transactions are made for a long term i.e. generally for one year, and the parties involved in making this foreign exchange transaction deposit five percent of the contract value with the bank involved in facilitating the transaction at the time of executing the contract which is then returned to the client after execution of the exchange transaction. The need for depositing this amount is to secure the transaction against any loss due to market fluctuations. 2.2.1.5 SWAP: The greatest advantage of SWAP transactions is that the clients involved in the foreign exchange get prior information about the exchange rate of the currencies that are part of the transaction. In this type of transaction the bank first buys the amount of transaction form the client and resells it to the client after a few days after disclosing the exchange rate of the currencies involved in the transaction process. SWAP transactions are much sought after by traders because here they get to know beforehand the exchange rate of the currencies involved in the transaction process that helps them in avoiding fluctuations in market rate and gives them the advantage of determining the prices of goods, the nature of the currency market notwithstanding. . 2.2.1.6 MarginTrading: The key element of Margin trading is that any trader can opt for SPOT trading round the clock by going through the margin trading mode. The other key element of margin trading is that the traders can make deals with a minimal spread for a huge amount of funds by projecting fraction of the needed amount. In that way it is a unique form of global financial transaction where the threshold value that can be transacted through the margin trading mode is $ 100000 with bigger deals being multiples of $ 100000. But in order to deal in margin trading the trader has to make a security deposit of five recent of the contract value that has to be replenished from time to time in order to maintain the amount from which the probable losses from margin trading transactions are accommodated. 2.2.1.7 Buying/Selling on Fixed Rate Order: This is a mutual agreement between the buyer and seller of foreign exchange. Neither its rate nor its other terms and conditions are based upon actual conditions. Rather the deal is based keeping the mutual profitability of the buyer and seller intact where both of them get their desired amount. 2.3 Global Foreign Exchange Market: According to the table depicting the Triennial Bank Survey of Foreign Exchange and Derivatives Market Activity done by Bank for International Settlements (BIS)2007, as shown below the global foreign exchange market has an average daily turnover of over $ 2 trillion, which is an increase of around forty percent in terms of volumes . This rise in foreign exchange transactions it is observed has been due to rise in the volume of trading in Spot and Forward markets. This is indicative towards increase in volatility of foreign exchange markets around the world. (www.bis.org). Global Foreign Exchange Market Turnover Daily averages in April, (in billions $) Year 1989 1992 1995 1998 2001 2004 Spot Transactions 317 394 494 568 387 621 Outright Forwards 27 58 97 128 131 208 Swaps in Foreign Exchange 190 324 546 734 656 944 Gaps in Reporting (Estimated) 56 44 53 60 26 107 Total Turnover (Traditional) 590 820 1,190 1,490 1,200 1,880 Memo: Turnover (At April 2004 Exchange Rates) 650 840 1,120 1,590 1,380 1,880 (BIS Triennial Central Bank Survey, 2004) As observed by Jacque Laurent L.1996, Studies in foreign exchange point to the fact that the volume involved in foreign exchange transactions in the total markets around the globe has the potential to affect the overall functioning of the global financial system due to the systematic risks that are part and parcel of the foreign exchange transaction system. Most of the transactions occur in the major markets of the world with the London Exchange followed by New York and Tokyo Stock Exchange accounting for over sixty percent of the foreign exchange transactions done around the globe. Among these transactions the largest share is carried out by banks and financial institutions followed by other business transactions i.e. exchange of value for goods and services as well as dealers involved in securities and financial market transactions. According to the studies by Levi Maurice D., 2005, in foreign exchange transactions most of the transactions happen in the spot market in the realm of OTC derivative contracts. This is followed by hedging and forward contracts that are done in large numbers. The central banks of different countries of the world and the financial institutions operating in multiple markets are the main players that operate in the foreign exchange market and provide the risk exchange control mechanism to the players of the exchange market and the system where around $ 3 trillion amount of money is transacted in 300000 exchanges located around the globe. The largest amount of transactions takes place in the spot rate and that too in the liquidity market. The quotation on price in these markets sometimes reaches to around two thousand times in a single day with the maximum quotations being done in Dollar and Deutschemark with the rates fluctuating every two to three minutes with the volume of transaction for a dealer in foreign exchange i.e. both individual and companies going to the range of $ 500 million in normal times. In recent years the derivativ e market is also gaining popularity in OTC dealings with regards to the foreign exchange market. 2.4 Global Foreign Exchange Market Management Risks: According to the researcher Kim S. H., 2005, Foreign exchange transactions are identified by their connection with some financial transactions occurring in some overseas market or markets. But this interconnectivity does not affect the inherent value of the currency of the country which is determined by the economic strength of that country. This means that the inherent value of each currency of the world is different and unequal. So when the need arises to exchange the value of some goods or service between countries engaged in such activity it becomes imperative to exchange the exact value of goods and services. Considering the complexity and volume of such trading and exchange activity occurring in the global market between countries it is but natural that the currencies of individual countries is subject to continual readjustment of value with the currency with which its value has to be exchanged. This gives rise to the importance of foreign exchange transactions as a separate ar ea of study and thereby needs much focus for its understanding (Frenkel , Hommel and Rudolf , 2005). In addition to this it is to be realized that with the growing pace globalization and integration of global economic order there has been a tremendous increase in international business transactions and closer integration of economic systems of countries around the world especially between the members of WTO, that has led to the increase in economic transactions and consequent activity in international foreign currency exchange system (Adams, Mathieson and Schinasi, 1998). Added to this is the fact that the exchange value of currencies in the transactions is not determined by the respective countries but by the interplay of value of the currencies engaged in an international foreign exchange transaction and the overall value of each currency in the transaction prevailing at that time. In fact each country in the global economic order would want to determine the value of its currency to its maximum advantage, which was possible a few years ago in when the countries used to determine the value of their currency according to the existing value of their economy. The individual countries till the early nineties used to follow a policy of total or partial control over the exchange value of their currency in the global market. At the same time there also were a group of countries that followed the policy or system in determining the exchange value of their currency i.e. left it to the interplay of global economic activity where the value was determined by its economic performance. The currencies of countries that provide full or partial amount of control in the international exchange value of its currency are known to follow a Fixed Rate whereas the currencies of countries that allow its currency to seek its inherent value through its performance in the global economic system are termed as following the Floating Rate of foreign exchange conversion mechanism. Though lo gically both the type of mechanism of foreign exchange face the effect of exchange rate fluctuations and consequent volatility in rate it is the currencies having a floating rate that are continually affected by the fluctuations in exchange rate in the global market when in the case of currencies with a fixed rate it is more of a controlled and regulated affair (Chorafas Dimitris N., 1992). 2.5 Foreign Exchange Risks Prevailing in the Global Market: Risks related to the exchange rate of a currency in the global market as has been mentioned, occurs due to the interplay of inherent value of each currency of the respective countries that are part of the global financial mechanism. Risks related to foreign exchange come into picture and are also inevitable in this world marching towards increased interaction due to globalization. The risks will occur due to business interaction and consequent exchange of value for goods and services. According to Kodres LauraE., 1996, the risks related to foreign exchange occur when there is increased interaction between the currency of a country with that of other countries in the international market and that too if the currency has a floating exchange rate. In that case the value of the currency is continually affected by its business and financial performance. This relation with other currencies in the market affects it during the time when the need arises to exchange it with another currency for settlement of financial transaction in some business or financial purposes and gives rise to various types of risks. The prominent risks associated during this situation are Herstatt Risk, and Liquidity Risk. 2.5.1 Herstatt Risk: Herstatt risk is a risk that is named after a German Bank that got liquidated by the German Government in the seventies of the last century and made to return all; the claims accruing to its customers. This is because its creditworthiness was affected and it could not pay the settlement claims to its customers and also on behalf of its customers to their clients. It is basically connected to the time aspect of foreign exchange value claim settlements in which the foreign exchange transactions do not get realized as the bank loses its ability to honour the transaction in the intervening period due to some causes. In the particular case the German bank failed to honour the financial settlement claims of its clients to their counter parties that were to be paid in values of U.S Dollars. The main issues that arose were regarding quantifying the amount to be delivered and the time of the transaction process due to the two countries financial systems being located and working according to different or separate time zones. This case has established a phenomenon in foreign exchange market where there may erupt situations in which the working hours of banks located in different time zones may never match with each other leading to foreign exchange settlement transactions getting affected during the mismatch of the two banks closing and opening time. In fact the Alsopp Report that studied this phenomenon in detail said that though the foreign exchange transactions are made in pen and paper on a single day the actual transfer of value takes place within three to four days. And with the exchange value of currencies operating in the international market always remaining in a state of flux they either get jacked up or devalued. In either case it affects the clause of transactions that was decided on an intra-day rate, as the value of both the currencies in the international market has changed during these days. 2.5.2 Risks related to Liquidity: There can crop up different problems related to the banking systems operations and dynamics i.e. in both technical and management systems as well as inability in terms of volume of available liquidity strength or in mismatch in tallying of time etc; that can affect the capacity of banks to honour foreign exchange transactions in terms of transfer of liquidity. These types of risks are being commonly witnessed in newly emerging economies that are being unable to cope with the sudden surge in volume of global business transactions thereby leading to exchange rate settlement and payment delays, outstanding payments and dishonouring of financial commitments in the exchange rate transaction market. 2.5.3 Financial Repercussions: According to the Studies in foreign exchange related risks by Dumas and Solnik, 1995 aver that risk related to transactions in foreign exchange have increased with globalization and the rise of global economic integration process with the countries getting affected in relation to the volume of their transactions in the global financial and business marketplace. This is because the market is now more oriented towards market value driven convertibility of currencies that is influenced by the global financial movements and transactions, and any independent transaction especially of transnational and multinational companies; will automatically affect other transactions happening in the global financial marketplace (Klopfenstein G.,1997). However, according to another study by Gallati Reto R., 2003, these multinational and transnational companies are simultaneously being affected by the fluctuations in exchange rate of different currencies of the global market that is exposing their business operations in different global markets to exchange rate related risks especially due to difference in Spot and Forward rates and the inevitable fluctuations (Choi , 2003) that give rise to foreign exchange settlement related problems. 2.5.4 Remedies to Foreign Exchange Settlement Risks: As there risks that have cropped up in foreign exchange transactions due to increase in volume and frequency of transactions mainly as a result of globalization so, also there have come up remedies to minimize the risk related to adverse conditions in foreign exchange transactions. The Bank for International Settlements (BIS) in one of its studies in 1999 has said that settlement of claims is the most predominant risk that is related to foreign exchange transactions, especially the speed with which these transactions are materialized and the roadblocks that they may face in the process due to tremendous increase in volume of foreign exchange transactions that cannot be cleared in expected times. The solution to these risks according to the study is to simultaneously clear transactions on either side i.e. for both the parties side so that they simultaneously give and receive payments at the agreed rate of exchange. This would solve the problem of extended time of actual payment when the rate of exchange fluctuates, thereby creating problems for both the parties. This arrangement is related to deals being processed simultaneously, which requires the concurrence and common cause of both the parties. This is because the party that is expecting a hike in value of it s currency may not agree to such a proposal. In that case there should be some law or arrangement that would make it mandatory for both the parties to settle their intra-day payments on that day itself so that there is no scope left for speculation by them. According to the study, such arrangements have been made in USA and Europe where systems like Fedwire and Trans- European Automated Real-Time Gross Settlement Express Transfer (TARGET) have been established. Fedwire facilitates payments in foreign exchange transactions under the mode of Real Time Gross Settlements (RTGS)and TARGET facilitates intra-day transfer of foreign exchange between parties of member countries of Europe on the same day itself. But, for simultaneous release of funds by both the parties and the intra-day settlement of claims to succeed it is imperative that the member countries of the global economic system should come together have concurrence on these issues. This is because all said and done the foreign exchange transaction related rules and laws are still governed by the respective countries. And most of these countries are reluctant to make any headway in linking their currency system to the global currency system for speedy disposal of foreign exchange transactions for fear that such a move would expose their currency end financial system to the baneful effects of risks and volatility of global foreign exchange system (Hagelin and Pramborg, 2004). At the level of international trading corporations there has been initiated some steps whereby they have formed a private arrangement known as Group of Twenty. They are a group of twenty internationally acclaimed global clearing banks who have formed an system called the Global Clearing Bank that acts as a connection between the payment systems of different countries and verifies international foreign exchange transactions in order to simultaneously satisfy both the parties regarding authenticity of the process of transaction. The thing is that this system puts a high amount of strain on the financial and foreign exchange system as well as reserves of individual countries along with requiring them to bring about some amount of commonality between the financial rules and regulations of individual countries which is easier said than done. All the same the establishment of Bilateral Netting System and Multilateral Netting Systems as well as of Exchange Clearing House (ECHO) are trying t o facilitate foreign exchange transactions and minimize the inherent risks involved (McDonough ,1996). 2.6 Indian Foreign Exchange System: 2.6.1 Historical Background: The historical background of foreign exchange system in India was a saga of excess control and monitoring with even minor transactions being made to undergo the rigorous scrutiny of concerned government authorities to avoid any risks associated with such transactions and save the scarce foreign exchange reserves from being frittered away in some transactions considered unimportant or anti-national by the government. The Foreign Exchange Regulation Act (FERA) that was enacted in 1947 and made more stringent in 1973 was the embodiment of the prevailing sentiment of the governments of those days, which was to completely regulate and control all the foreign exchange transactions and protect the foreign currency reserves. (Mehta, 1985) All these changed in the nineties of the last century with the opening up of Indian economy in 1991 in keeping with the recommendations of the High Level Committee on Balance of Payments set up under the chairmanship of Dr C. Rangarajan by the Ministry of Finance, Government of India and subsequent entry of India into World Trade Organization (WTO) in 1994. This was preceded by the liberating of current account transactions and establishing full convertibility of current account transactions in 1993. In 1994 also the Government of India accepted Article VIII of Agreement of the International Monetary Fund that established the system of current account convertibility and the exchange value of rupee came to be determined according to the market rates with only the convertibility of capital account being under the control of the government (Krueger,2002) as the Tarapore Committee on Capital Account Convertibility of 1997 (Panagariya A., 2008) suggested the government to keep adequate sa feguards before allowing the convertibility of capital account to be determined according to the market forces as there was need to consolidate the financial system and have an accepted inflation target before such a venture. The Tarapore Committee also suggested that the legal framework governing the foreign exchange transaction system in India also needs to be modernized before going for total convertibility of the capital account due to which the Government repealed the FERA Act of 1973 and promulgated the Foreign Exchange Management Act (FEMA) in 2000. This new act did away with the system of regulation and control and established a system of facilitation and management of foreign exchange transactions thereby promoting all the activities related to foreign exchange transactions. The most important thing that was done by FEMA was to recognize violations or mistakes in foreign exchange transactions as a civil offence instead of a criminal offence as was done by FERA. FEMA also shifted the responsibility of proving the violation or mistake in foreign exchange transaction and related rules from the prosecutor to the prosecuted. And if the prosecuted was proved guilty he or she was to pay only monetary fine or compensation instead of being jailed as was the earlier provision under FERA. FEMA also simplified many of the rules and notified specific time frames for delivering judgments related to violations of foreign exchange rules and regulations and provide rules for establishing special tribunals and forums to deal with such cases. Th e compounding rules were also made less stringent and all matters related to compounding rules were notified to be dealt by Reserve Bank of India (RBI) instead of the previously assigned Enforcement Directorate. RBI was made the designated Compounding Authority in all related matters. Only the cases involving hawala transactions were left from its purview As per Mecklal and Chand

The Theme of Identity in Poetry :: Identity Digging Still I Rise The Barn Essays

The Theme of Identity in Poetry These three poems are all to do with the theme identity although I specifically choose three that contrasted with each other. Digging is portraying the identity of the three generations of digging, his father, grandfather and himself. ‘Explain how three poems concerned with developing personality, develop their themes’ For this essay I will be choosing three poems, which will help me compare and contrast how each develop their themes of identity. The three I will be choosing are: 1. Digging Between my finger and my thumb the squat pen rests: snug as a gun. Under my window, a clean rasping sound when the spade sinks into gravely ground: My father, digging. I look down till his straining rump among the flowerbeds Bends low, comes up twenty years away Stooping in rhythm through potato drills where he was digging. The coarse boot nestled on the lug, the shaft against the inside knee was levered firmly. He rooted out tall tops, buried the bright edge deep to scatter new potatoes that we picked Loving their cool hardness in our hands. By God the old man could handle a spade. Just like his old man. My grandfather cut more turf in a day than any other man on Toner's bog. Once I carried him milk in a bottle Corked sloppily with paper. He straightened up To drink it, then fell to right away Nicking and slicing neatly, heaving sods Over his shoulder, going down and down For the good turf. Digging. The cold smell of potato mould, the squelch and slap of soggy peat, the curt cuts of an edge through living roots awaken in my head. But I've no spade to follow men like them. Between my finger and my thumb the squat pen rests. I'll dig with it. 2. Still I rise You may write me down in history with your bitter, twisted lies, you may tread me in the very dirt but still, like dust, I'll rise. Does my sassiness upset you? Why are you beset with gloom? 'Cause I walk like I've got oil wells pumping in my living room. Just like moons and like suns, with the certainty of tides, just like hopes springing high, still I'll rise. Did you want to see me broken? Bowed head and lowered eyes? Shoulders falling down like teardrops. Weakened by my soulful cries. Does my haughtiness offend you? Don't you take it awful hard 'Cause I laugh like I've got gold mines Digging' in my own back yard. You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise. Does my sexiness upset you? Does it come as a surprise that I dance like I've got diamonds

The Benefits of Superchargers and Turbochargers: Types of Forced Induct

The Advantages of Superchargers and Turbochargers: Types of Forced Induction The light turns red and you slowly come to a stop driving your 1992 GMC Syclone equipped with a 280 horsepower 4.3 liter V-6 teamed up with a four speed automatic transmission. The GMC Syclone is basically a sporty run-off of GMC's Sonoma. In the next lane, a brand spanking new Ford Mustang equipped with a 320 horsepower 4.6 liter V-8 pulls up. You seem to be feeling pretty spunky today, so you rev your engine signaling to the driver of the Mustang that you want to race. The other driver looks over, gives a glance at your GMC Syclone and begins to laugh. However, he goes ahead and revs his engine giving the go-ahead for a race. The light turns green and your foot sinks on the accelerator pedal. You hear the squeal of tires, but you know it's not from your truck because the Syclone is all wheel drive. The Mustang's 17 inch tires are spinning on dry pavement and struggling to regain their grip. After about half a second has gone by, your neck and neck with the Mustang. By this time the turbocharger in your truck has "spooled up" and is now compressing air into the intake manifold. Suddenly, your pushed back into your seat as the turbo goes to work. All the motion of the vehicle is forward and there is no "peeling out" from your truck because all of the power is being transmitted to all four of your 16 inch wheels. After two seconds, your ahead of the Mustang and just keep widening the gap on him. After 4.9 seconds your traveling at 60 mph. The Mustang will soon reach your velocity after another half a second. At this velocity you know that you're the clear victor, so you let off of the accelerator pedal and let the Mustang catch up. When the Must... .... 1996: 3. Gromer, Cliff, and Scott, Randy. "Hot n' Cool." Popular Mechanics. Dec. 1998: 34. "The History of Turbochargers." About. 29 Mar. 2002. 28 Mar. 2002 ? <http://vintagecars.about.com/library/weekly/aa011500a.htm?iam=sawy&terms=%2Bturbocharger>. Kreisler, Ken. "Whirling Dervish." About. 29 Mar. 2002. 28 Mar. 2002 ? <http://powerandmotoryacht.about.com/library/weekly/february02/aa020402a.htm?terms=turbocharg ers>. Mitchell International, Inc. Mitchell Automechanics 2nd ed. New Jersey: Prentice Hall, 1991: 208-211. Peters, Eric. "Turbos and Superchargers." Consumers' Research Magazine. Sept. 1996: 33. Tobaldt, William K., and Larry Johnson, eds. Motor Service's. Illinois: The Goodheart- Willcox Co., Inc., 1968: 259-263. "Turbocharger Overview." Inter.net. 12 Apr. 2002. <http://home.istar.ca/~dvandit/TurbochargerOverview.htm>

Sakat Chauth Essay --

Sakat Chauth Vrat is observed on the fourth day of Krishna paksha, (the fading phase of moon) in the month of Magha according to Hindu lunar calendar. Next Sakat Chauth will fall on January 19th in 2014. This is also called as Ganesh Chauth or Tilkuta Chauth. Lord Ganesha and Moon god is worshiped on Sakat Chauth. This vrat is mainly observed in North India and this day is celebrated as Tilkut Chauth. A full day fast is observed on this day. It is believed that fasting on Sakat Chauth removes all obstacles from life and Ganesha blesses his devotees with health, fortune and good children. Sakat Chauth vrat method: On this day, married women who are observing the fast get up early morning and take bath, after which they wear new cloths, clean up the place of worship and chant â€Å"Om Ganeshaaya Namah" mantra108 times. During the day devotees observe fast. However milk, tea and fruits are allowed. In the evening a Mandap is decorated in which Ganesha idol is placed. The idol is decorated with flowers and Doorva (grass) is offered to Ganesha. Desserts pr...

Symbols and Abstractions in Kafka’s “the Metamorphosis”

Symbols and Abstractions in Kafka's â€Å"The Metamorphosis† â€Å"The Metamorphosis† is a unique and intricate novella by Franz Kafka. It is peculiar in any work for the main character to wake up as an insect in the first line of the story. Kafka's symbolism is unlike most authors who use symbolism to relate to the theme of the story; Kafka tends to focus the reader's attention on a single character which symbolizes his life. His uses of bizarre symbols make the reader question, â€Å"What does Kafka mean through this symbol? The interpretations of these symbols differ between readers yet all seem to represent how life is destroyed when people focus is on existence alone. To fully appreciate the symbols and abstractions in his works, it is important for the reader to have knowledge of the author's history to understand the reasoning behind the story. As observed in â€Å"The Metamorphosis,† there are many similarities between Frank Kafka and his protagonist, Gr egor Samsa. Kafka was born into a middle-class, German-speaking Jewish family in Prague, the capital of Bohemia. His father, Hermann Kafka, was described by Kafka himself as â€Å"a true Kafka in strength, health, appetite, loudness of voice, eloquence, self-satisfaction, worldly dominance, endurance, presence of mind, [and] knowledge of human nature †¦ â€Å". (Nervi) Admitted to the Charles University of Prague, Kafka first studied chemistry, but switched after two weeks to law. This offered a range of career possibilities, which pleased his father, and required a longer course of study that gave Kafka time to take classes in German studies and art history. He later was hired at an Italian insurance company, where he worked for nearly a year. His correspondence, during that period, witnesses that he was unhappy with his late shift working schedule as it made it extremely difficult for him to concentrate on his writing. Later, he resigned, and two weeks later found more congenial employment with the Worker's Accident Insurance Institute for the Kingdom of Bohemia. However, he did not show any signs of indifference towards his job, as the several promotions that he received during his career prove that he was a hard working employee. In parallel, Kafka was also committed to his literary work. (Nervi) Gregor Samsa, the insect, and Kafka share many similarities. It is known that Kafka and the insect share professions as a traveling salesman, with Gregor working to pay off his father's debt to the company. Gregor is impeded by his physical attributes, while Kafka is likewise impeded by his career, unable to pursue his will to be a fulltime writer. Kafka took his profession to the satisfaction of his father, and he remained employed there for several years against his will. Likewise, Gregor hates his work as a salesman; however his motivation to return following his transformation can be attributed to the fact that he is his family's only source of income, and he is proud to be able to provide for his mother, father, and sister, Grete. He aspires to one day send his sister to the conservatory to study violin. Gregor is put under heavy weight by his family, especially by his father. He feels the burden he places on the family and tries to disappear by hiding under the sofa. As the story continues, Gregor is confined to his room under his family command to prevent the family from embarrassment. He is hidden and devoid of human contact. The relation between Kafka's isolation from his family can be related to Gregor, who leads his life under his father's will, leading to the emotional rift between Kafka and his father. This becomes obvious during a passage in the story where Gregor emerges from the confinement of his room, only to be chased around the kitchen and pelted with apples by his father, leaving Gregor wounded and eventually infected. This pain and anguish experienced by Gregor can be abstracted as the grief Kafka underwent in dealing with his father and his father cannot recognize or understand Gregor his son in this state. Though remorse follows the incident, the damage has been done and it will only be a matter of time until his death. For the remainder of his life, Gregor realizes he no longer has worth or serves purpose. In death, the burden of Gregor on the family has been lifted, and in a strange, twisted way, his family is relieved and moves forward happily and comfortably. Like his character, Kafka dies at a young age, alone. Even the title, â€Å"The Metamorphosis† can be abstracted metaphorically, not only through the main character's physical changes, but between different characters. For Gregor, it is conveyed in the first sentence that Gregor has been transformed from a human to a roach-like insect, yet the internal metamorphosis Gregor experiences is a progression from the beginning to the end of the story. The metamorphosis is gradual. As Gregor's condition worsens, he is unable to support his family, is unable to communicate with them, and his speech becomes completely unintelligible. The theme, similar to Kafka's life, is of the suffering protagonist. Grete, too, changes. Early in the novella she seeks guidance and support from Gregor. However, by the conclusion of the story she has â€Å"blossomed† into â€Å"a beautiful and voluptuous young woman,† completing her metamorphosis. Throughout this writing, the theme of oneness between the main character and Kafka is obvious. Kafka uses symbolic metaphors and abstractions in â€Å"The Metamorphosis† to represent himself and his life. Similarities between the family, occupation, alienation, and death are shared nearly identically between Kafka and Gregor. In conclusion, there are too many parallelisms in Kafka's â€Å"The Metamorphosis† to dismiss as coincidence, and the character and life of Gregor Samsa are surely a representation of the author, Kafka, and his life. Works Cited Nervi, Mauro; Kafka's Life (1883-1921). 12 March 2006. The Kafka Project. 18 May 2009. .

Preparation of Acetanilide

Synthesis of Acetanilide Reaction O NH2 + H3C C O O C CH3 O N C CH3 H + H3C O C OH Aniline Acetic anhydride Acetanilide Acetic acid Purpose: Acetanilide is a useful precursor to many pharmaceuticals such as acetaminophen and penicillin. Experimental Procedure. (Estimated time: 1. 5 h. ) Unless otherwise noted, all manipulations should be done in the chemical fume hood. Place 100 Â µL of aniline into a tared 10 X 75-mm test tube (standing in a small beaker or Erlenmeyer flask). Now add 0. -mL of distilled water; with swirling, followed by 3 drops of concentrated hydrochloric acid. Add 10 mg of powdered decolorizing charcoal, or the pelletized form (Norit) to the resulting solution. Fit the test tube with a cork stopper and take it back to your hood. Gravity filter this suspension (25-mm funnel fitted with fluted fast-grade filter paper – see instructor) into a 3. 0-mL conical vial containing a magnetic spin vane. Wet the filter paper in advance with distilled water and blot th e excess water from the stem of the funnel.Use an additional 0. 5 mL of distilled water to rinse the test tube and pass that through the filter paper into your vial. Your aniline hydrochloride solution is ready for reaction. Assemble the apparatus as shown below: CONICAL VIAL W/ MAGNETIC SPIN VANE AND AIR CONDENSER Dissolve 150 mg (1. 10 mmol) of sodium acetate trihydrate in 0. 5 mL of distilled water in a 10 X 17-mm test tube. Cap the tube and set the solution aside for use in the next step. Feature Article –Â  Free-Radical BrominationAdd, with stirring, 150 Â µL of acetic anhydride to the solution of aniline hydrochloride, followed quickly by addition (Pasteur pipet) of the previously prepared solution of sodium acetate. Stir to thoroughly mix the reagents (~5 min. ). You should see the formation of a white precipitate. Allow the reaction mixture to stand at room temperature for approximately 5 min and then place it in an ice bath for an additional 5-10 min to complete the crystallization process.Collect the acetanilide product by filtration under reduced pressure using a Buchner funnel. Rinse the conical vial with two 0. 5-mL portions of distilled water and use the rinse to wash the collected filter cake. Characterization. Weigh and determine the percent yield of the product. Obtain an IR spectrum using the total internal reflectance attachment. Take a 1H NMR of your product – if there is not enough we will pool samples together. Take the melting point of the product and compare it to the literature value. BUCHNER FUNNEL