Traditional Teaching Essay Example | Topics and Well Written Essays - 1000 words - 1

Traditional Teaching - Essay Example rough the lessons, giving clarifications wherever necessary; 2) its adaptability to large classrooms in transmitting a wide body of knowledge to students of divergent skills; 3) efficiency in offering straightforward instructions and explanations; and 4) offering better test results by focusing on likely test questions and administering repetitive drills in order to reinforce memorization of facts and information. The disadvantages of the traditional method of teaching, however are that 1) it turns out more time consuming for students who are slower in digesting information; 2) it does not offer any solution to the students for their difficulties in memorizing and retaining information; 3) the knowledge gained is only basic and limited in scope, as the exploratory stage is entirely done away with; and 4) it is inflexible, putting all students at the same starting point, stuffing them with undifferentiated knowledge, without taking into account their differing capacities and interest in the subject taught. Therefore, the method only benefits willing and ‘better’ students, and is not found fit to kindle genuine interest for the subject. In a traditional classroom setting, therefore, the teacher becomes the focus of action, with importance being given to the ‘textbook’. The student is relegated to the sidelines, and is a passive pawn in the learning process. Remembering the correct answer is the priority, to which end, they are inundated with information, in which process, their analytical skills remain largely untapped and untrained. The sequelae or abnormalities of traditional pedagogy lead to several undesirable consequences. This system enshrines Behaviorism as an essential part of education, and does not consider the impact of a student’s mental makeup on the learning process. Looking at the learning process purely as a uni-dimensional phenomenon results in the following abnormalities. First, students are placed in different classes based on their

Henri Fayol Essay Example for Free

Henri Fayol Essay Henri Fayol (Istanbul, 29 July 1841 – Paris, 19 November 1925) was a French mining engineer and director of mines who developed a general theory of business administration that is often called Fayolism.[1] He and his colleagues developed this theory independently ofscientific management but roughly contemporaneously. Like his contemporary, Frederick Winslow Taylor, he is widely acknowledged as a founder of modern management methods. Biography Fayol was born in 1841 in a suburb of Istanbul, Ottoman Empire. His father (an engineer) was appointed superintendent of works to build the Galata Bridge, which bridged theGolden Horn. [1] The family returned to France in 1847, where Fayol graduated from the mining academy Ecole Nationale Superieure des Mines in Saint-Etienne in 1860. In 1860 at the age of nineteen Fayol started the mining company named Compagnie de Commentry-Fourchambault-Decazeville in Commentry as the mining engineer. In 1888 he became managing director, when the mine company employed over 10,000 people, and held that position over 30 years until 1918. By 1900 the company was one of the largest producers of iron and steel in France and was regarded as a vital industry.[1] Based largely on his own management experience, he developed his concept of administration. In 1916 he published these experience in the book Administration Industrielle et Generale Publications[edit] Books, translated 1930. Industrial and General Administration. Translated by J.A. Coubrough, London: Sir Isaac Pitman Sons. 1949. General and Industrial Management. Translated by C. Storrs, Sir Isaac Pitman Sons, London. Articles, translated, a selection 1900. Henri Fayol addressed his colleagues in the mineral industry 23 June 1900. Translated by J.A. Coubrough. In: Fayol (1930) Industrial and General Administration. pp. 79–81 (Republished in: Wren, Bedeian Breeze, (2002) The foundations of Henri Fayol’s administrative theory) 1909. L’exposee des principles generaux d’administration. Translated by J.D Breeze. published in: Daniel A. Wren, Arthur G. Bedeian, John D. Breeze, (2002) The foundations of Henri Fayol’s administrative theory, Management Decision, Vol. 40 Iss: 9, pp. 906 – 918 1923. The administrative theory in the state. Translated by S. Greer. In: Gulick, L. and Urwick. L. Eds. (1937) Papers on the Science of Administration, Institute of Public Administration. New York.

Theodore Roethke and The Waking :: Waking Essays

Theodore Roethke and The Waking In describing the way he receives life's lessons and learned experiences, Theodore Roethke uses repetition of two different sentences and a simple rhyme scheme to help the reader understand his outlook on how to endure life. The two sentences repeated throughout the poem are "I wake to sleep, and take my waking slow" and "I learn by going where I have to go" [with slight variation in the latter]. "I wake to sleep, and take my waking slow" shows up in stanzas 1, 2, 4, and 6 and figuratively means that Roethke awakens in the morning and learns from the day's experiences. Unlike most people, Roethke does not rush through the day as if he expected another. He lives through the day in a calm and slow manner so that he learns about life without missing anything along the way. At night, he falls asleep content with the day's experiences and awakens the next morning in the same slow manner. When Roethke states "I learn by going where I have to go" in stanzas 1, 3, 5, and 6, he declares that he goes anywhere and everywhere to experience all that he can. He observes rare things throughout his journeys and makes mistakes along the way, but wherever he goes, he locks the experiences in his memory and repeats the cycle. The repetition of the sentences in the poem set a tone of determination and perseverance to enjoy all of life's experiences that come Roethke's way. The emotion portrayed by the sentences is an uplifting feeling because Roethke observes and enjoys even the most trivial aspects of life such as when "the lowly worm climbs up a winding stair." The rhyme scheme initiated by the author follows the rhyme scheme ABA in the first two stanzas, CDA in the third through fifth stanzas, and ABAA in the final stanza. This particular rhyme scheme creates a comfortable flow of overt rhyming. In the first two stanzas, the rhyming is the same (ABA) as Roethke talks about how to experience life by feeling. The rhyme scheme changes in the third through fifth stanzas as the focu s in the topic changes to how Roethke epitomizes his "experience by feeling" idea by sharing the specific examples of the worm and the ground. The last stanza returns to an ABAA rhyme scheme much like that of the first two stanzas.

Rural-Urban Linkages, Their Role in Sustainable Development

Although policy makers and the development community have widely used the phrase â€Å"rural development. The concept of rural development has changed significantly during the last 3 decades. Until the 1970s, rural development was synonymous with agricultural development and, hence, focused on increasing agricultural production. This focus seems to have been driven primarily by the interests of industrialization to extract surpluses from the agriculture sector to reinforce industrialization. With the focus on increasing agricultural production, the stated objective of most countries was to promote smallholder agriculture. Over time, this smallholder agriculture-centric concept of rural development underwent changes. By the early 1980s, according to Harris, the World Bank defined it as â€Å"†¦a strategy designed to improve the economic and social life of a specific group of people—the rural poor. Four major factors appear to have influenced the change: increased concerns about the persistent and deepening of rural poverty; changing views on the meaning of the concept of development itself; emergence of a more diversified rural economy in which rural non-farm enterprises play an increasingly important role; and increased recognition of the importance of reducing the non-income dimensions of poverty to achieve sustainable improvements in the socio economic well-being of the poor. The establishment of the Millennium Development Goals has significantly reinforce d the concerns about non income poverty. With the paradigm shifts in economic development from growth to broadly defined â€Å"development,† the concept of rural development has begun to be used in a broader sense. It is also more specific, as Harris noted â€Å"in the sense that it focuses (in its rhetoric and in principle) particularly on poverty and inequality. † In more recent years, increased concerns on the environmental aspects of economic growth have also influenced the changes. Today’s concept of rural development is fundamentally different from that used about 3 or 4 decades ago. The concept now encompasses â€Å"concerns that go well beyond improvements in growth, income, and output. The concerns include an assessment of changes in the quality of life, broadly defined to include improvement in health and nutrition, education, environmentally safe living conditions, and reduction in gender and income inequalities. â€Å"Today there seems to be a universal consensus that the ultimate objective of rural development is to improve the quality of life of rural people. As the concept of rural development changed so has the focus and approach to tackling and planning for rural development also change. Thus as already explained, today rural development is an integrated concept that that requires an integrated approach to development . thus the focus now is on sustainable development; hence an integrated sustainable rural development strategy is used to plan for rural development. However in order to successively design a strategy for integrated sustainable rural development, one must take into consideration rural-urban linkages because of the significant role it plays in sustainable rural development. Before proceeding with a discussion about the role that rural-urban linkages play in integrated rural sustainable development strategy, it may be necessary to define rural-urban linkages. In general, â€Å"rural-urban linkages† refers to the flow of (public and private) capital, people (migration, commuting) and goods and services (trade) between rural and urban areas. It is important to add to these three economic flows, the flow of ideas, innovation and information. These rural urban linkages could be expanded as; * The movement of people between rural and urban households many of which are of circular nature. These include temporary migration(as in seasonal moves ) and labour migration including weekly commuting; * The more permanent migration of people from rural to urban areas and vice versa. * The movement of people operating from a single rural urban household as in daily commuting or school trips, shopping and short term visits. * The movement of resources such as money and remittances, commodities and services. * There is also the more permanent type of linkages found mostly in infrastructure such as roads railway lines water and electricity telecommunication etc. Over the past few years, interest in the linkages between urban and rural areas has increased considerably. This is clear, for instance, from the activities of the United Nations. The Habitat Agenda, adopted at the second United Nations Conference on Human Settlements (Habitat II) in Istanbul in 1996, states that â€Å"policies and programmes for the sustainable development of rural areas that integrate rural regions into the national economy require strong local and national institutions for the lanning and management of human settlements that place emphasis on rural-urban linkages and treat villages and cities as two ends of a human settlements continuum. † (UNCHS, 1997: 93-94). however, Studies of rural urban linkages indicate that the nature of the linkages differs from one place to another and differs for different sectors in the same place. It is equally necessary to identify successful practices that promote local rural and urban development and alleviate poverty, using rural-urban linkages, and to build the capacity of rural and urban local governments to review, adapt and replicate such practices. The growing understanding and the pool of good practices should form the basis for capacity building of local governments. Among the above linkages the ,focus would be on the point 1 and 4 that’s the migration and the economic exchange of goods and services and their implication on rural development . this is because they are among the important rural urban linkages necessary for integrated sustainable rural development. These would be dis cussed shortly. To begin with the economic exchange between urban and rural areas can be beneficial or detrimental to either or both areas . hus with economic links between rural and urban areas, the extent to which economic development in the one area benefits or obstructs economic development in the other area. For instance an exclusive focus on rural areas would result in an under-investment in urban areas and this would limit the growth of the urban sector and its ability to absorb the rural labour surplus. Likewise an exclusive focus on urban development would produce similar results, because it would accelerate rural-urban migration and reduce food production per capita (Richardson, 1987: 210). Reardon (n. d. : 8-9) distinguishes three stages in the development of rural non-farm sector and of rural-urban linkages: †¢ During the first stage, rural non-farm activity tends to have a production or expenditure linkage with agriculture while farming directly employs a large share of the rural population. Rural non-farm activity tends to centre on the countryside itself, with little dependence on rural-urban links. Rural non-farm activities are mainly home-based and small-scale production of goods, mainly sold locally. During the first stage, agriculture tends to depend on local supplies of farm inputs and services and on local processing and distribution of farm products, usually carried out by small to medium-scale firms. †¢ A greater mix of situations characterizes the second stage. The mix includes activities based on linkages with agriculture as well as on other, separate activities (e. g. tourism, mining and services), although the latter did grow out of a historical rural non-farm sector based on linkages with agriculture. The share of rural population dependent on farming is lower than during the first phase. Rural-urban links as the basis for rural non-farm employment have a greater weight than in first stage with nascent sub-contracting of rural companies by urban or foreign businesses and a rapid rise in the labour force commuting between the countryside and rural towns and intermediate cities. †¢ The third stage shows an intensification of the characteristics that differentiate the second stage from the first stage. There is a greater weight of urban-rural links manifested by the greater importance of more advanced forms of business linkages, such as subcontracting arrangements and labour commuting. A number of other tendencies also characterize this stage: the expansion of subcontracting beyond light durables to medium durables. The great heterogeneity of the non-farm sector in rural areas implies that there is little scope for general, broad, policy prescriptions. This observation may well provide an important lesson for our thinking about the process of policy formulation. A wide variety of interventions may be required to promote the non-farm sector, each tailored to specific local conditions. Decentralized decision-making may be necessary: mechanisms should be devised whereby local information flows upwards so that the localized bottlenecks are relieved and specific niches can be exploited (Lanjouw, 1999: 9). From the above it can be realised that, rural-urban linkages can play an important role in economic development and poverty alleviation in urban and rural areas. However,it is important to recognize that the nature of the rural-urban linkages differs from one place to another and from one function to another. As Douglas (1998) has pointed out, a particular urban centre may play a crucial economic role for the surrounding rural areas in one respect, while the rural area may completely bypass that same urban centre and link directly to more distant urban centres and cities in other respects. It is, therefore, dangerous to generalize about the nature of rural-urban linkages and to base policy interventions on such generalizations. What is necessary is the recognition of (a) the existence a regional economy as a reality, rrespective of administrative boundaries, and (b) the need to develop knowledge about such regional (i. e. sub-national) economies (World Bank, 2000). The development of this knowledge should be demand-driven, as urban and rural local governments come to recognize their shared interests and constraints. The political impetus for this process of knowledge development may be t decentralization. In order to distribute economic and social opportunities equitably, the Government s hould strengthen grassroots economies that can provide sustainable incomes for the rural population. The Government should establish economic clusters that link rural and urban areas, and the cluster-based economic development should be consistent with the economic potentials, preferences and functions of each area. Another important rural urban linkage that has immense implication for today’s rural development is the rural urban migration. Thus the movement of people between rural and urban households . these include temporary migration and labour migration. Rural-urban migration reduces population pressure in the rural areas and, thereby, should improve economic conditions and reduce rural poverty. However, disparities between urban and rural areas in terms of income and employment and the availability of basic infrastructure and services persist. Urban areas offer more and better opportunities for socio-economic mobility of the poor and rural-urban migration, therefore, will continue. Labour migration could result in shortage of labour force for productivity in the rural areas which would intend result in low productivity and underdevelopment in the rural areas. Whereas the urban areas may not also be able to absorb the all the labour from the rural areas ,resulting in unemployment and increase in sanitation costs and government expenditure. it also increase population pressure in urban areas resulting in pressure on the few social amenities in urban centres. in this case, rural urban migration has more adverse effect on rural development. In addition to the above, Circular and temporary migration is already a common pattern in many countries, but working and housing conditions in the urban areas may not always be conducive to this form of migration. Housing is often an acute problem for temporary migrants who prefer to rent rather than to own housing, because they feel that their home is in the rural areas. Temporary migrants are sometimes not entitled to urban services and this makes their life in the urban areas more difficult than necessary. Local governments and private employers in the urban areas should accept temporary rural-urban migration as inevitable and perhaps even as desirable, and they may consider measures to facilitate such forms of rural-urban migration. For instance, Remittances are a crucial component of rural households’ incomes and a key element of the continued links between migrants and their home areas across all wealth groups. In northern Mali, migrants’ remittances have become probably the most important source of family cash, and are used for consumption and for the purchase of consumer goods such as radios and bicycles, but also for the purchase of agricultural inputs or for investment in livestock. In southeast Nigeria, it would be socially unacceptable for migrants not to send remittances and gifts: financial support to their parental households has greatly contributed to making young women’s migration socially acceptable. Most importantly, remittances and gifts ensure that migrants can maintain a foothold in the home area, and that they will be welcome upon their return. Gaile (1992: 134) argues that the problem is not urbanization as such, because the urban areas need to absorb the additional rural labour. The problem is that migrants have only a limited choice when migrating, because most local economic development occurs in one or a few large cities. He points out that the problem is really â€Å"under-urbanization†, i. e. the underdevelopment of the urban system. The major impediment to the working of the general market and the consequent development of a labour market is the undersupply of centres of sufficient minimal size to provide sites for market development. The above implies that in developing a strategy for sustainable rural development projects that encourages the bridging of gab between rural and urban areas should be considered. This would help reduce rural urban migration. Besides, major effort is required to ensure that the urban areas can absorb the growing urban population and that urbanization will not result in an urbanization of poverty. Small and medium-sized towns can play an important role in the urbanization process by absorbing rural-urban migrants. For instance Economic development in small towns can have a positive impact on the economy of the surrounding rural areas, if the increase in purchasing power results in the purchase of agricultural and non-agricultural products from the surrounding rural areas. This will obviously depend on the types of products produced, their quality and cost and their competitiveness compared to products from other parts of the country (and elsewhere). The development of the local urban economy may also lead to a reduction in rural-urban migration to the larger urban centres and the city and redirect migration flows to smaller urban centres. This in the long run led to sustainable development in both the rural and urban areas. Conclusion and Recommendations From the above discusions, it can be observe that there is growing interdependence of urban and rural areas that reduces the significance of the rural-urban distinction. The flow of people, capital, goods, services and ideas between urban and rural areas, made possible by improvements and cost reductions in communication and transport, is reinforcing the existing rural-urban linkages and more than ever conditions and developments in the urban areas have an impact on the rural areas and vice versa. Rural residents adopt urban lifestyles and occupations; small settlements require urban infrastructure and services; residents of rural areas commute between rural and urban areas; industries move to rural areas; urban waste pollutes natural resources in the rural areas; and agriculture in urban areas is becoming important for both economic and environmental reasons. It is, therefore, an anachronism that governments still design policies and programmes that are focused either on urban or on rural areas, but rarely on both. Rural and urban communities need to have an interest in each other’s conditions, and policy-makers need to consider these when formulating policies and programmes for sustainable rural development. Coordination of decision-making and cooperation between authorities of urban areas and their surrounding rural areas are critical to ensure that the development of urban areas and rural areas support each other. However, the continuing integration of rural and urban areas requires more than simply coordination and cooperation, it requires planning that incorporates rural and urban development. Such regional planning should not be an urban-centred exercise as it often has been in the past. Rural and urban areas need each other and each can benefit when the other’s needs are met. Backward linkages and forward linkages between agricultural production and industry and services can foster positive rural-urban interactions and a virtuous circle of development. However, policies that encourage such mutually reinforcing linkages need to overcome the traditional separation between rural and urban planners. They also need to avoid generalizations and be grounded in the specifics of the regional context (Tacoli, 1998: 13).

Public finance

The researcher by introduction which includes background to the problem, Statement of the problem, Research questions, Objective of the study, Significance of the study, and the scope and limitation of the study. In the second chapter there is literature review, both theoretical and empirical literature review in which there are some terms defined with relevant theories. The third chapter explains about now the study wick be conducted and techniques that will be used in conducting the research study The third chapter shows and explains the schedule of activities, references and bibliography.The fourth chapter give much details of the research topic by answering the research questions both specific and general research questions. It gives a detailed information gathered during the research period so as to give the real situation of the Ministry in relation to the research topic. The last fifth chapter gives the conclusion and recommendation of the researcher in the research area in re lation to the research topic whether the Ministry conduct the situation satisfactory and if there are some added criteria in order to improve the situation in the research area.CPSP: Certified Procurement and Supplies Professional. MTB: Ministerial Tender Board NBMM: National Board for Materials Management PPA : Public Procurement Act IAA: Institute of Accountancy Arusha Head of Department HOD. PMU. Procurement Management Unit NGO: Non Governmental Organization . United States of America USA' CICA. Competition in Contracting Act : Member of the Parliament MP The Ministry of Infrastructure Development (MID) Head Office is located at the City Centre in Dar-es-salaam at llala Municipal, Pamba Road (Tancot House).The name was officially launched in 1995 and was formerly known as Ministry of works. The ew ministry is the combination of the former Ministry of Works and the Ministry of Communication ; Transportation. It is headed by the Minister Hon. Mr. Andrew Chenge (MP), assisted by Hon . Dr. Maua Daftari (MP) and Dr. Makongoro Mahanga as Deputy Ministers. The ministry of Infrastructures Development is split into two Divisions, namely: 1. Transport Division 2.Communication Division After the introduction of PMS in the year 2003,the ministry adopted a new vision and mission, the proposed functions and structures has put into the new vision, mission and objectives of the ministry. The overall responsibilities of MolD is to structure the transport and communication Infrastructure that is well maintained, providing safe and efficient environment that is friendly and affordable to all parts of Tanzania and one that integrates all modes of transport and communication system economically.Vision of the Ministry: The vision of the ministry is to have efficient and cost effective domestic and international communication and Transport meteorology service to all segments of the population and sectors of National economy with maximum safety and minimum environmental Degradation . Mission of the Ministry: The mission of the Ministry is to have safe, effective and efficient transport and communication and meteorological infrastructures and operations which best meet the socio-Economic needs by improving levels of services at lower costs in a manner which support Government strategies for economically and environment sustainability.Objectives of the Ministry: In order to fulfill the above vision and mission of the sector, the ministry has got the following objectives: To facilitate the provision of adequate, affordable and efficient transport and communication and meteorology infrastructure and services with aximum safety and minimum environment degradation. To ensure a conducive environment for investment in the sector. To improve revenue collection from transport, communication and meteorology service rendered by the sector.To harmonize transport, communication and meteorology standards to those of regional and international groups in which Tanzania is a me mber. To improve services and reduce HIV/AID Intection. Functions of the Ministry. The general function of the Ministry of Communications and Transport are: To initiate and coordinate polices, objectives and strategies on road, railway, pipeline, arine, air transport, posts and Telecommunications. Oversee and co-ordinate performance standards. Monitor and evaluate overall performance contracts.To commercialize and privatize the parastatals in the transport and communication sector The organizational structure of the MolD In order to achieve the objectives, the ministry implements the objectives using five specialized departments at the Head quarter, three regulatory and three Executive agencies: Specialized Departments at the Head Quarters: Department of Administration and Personnel Department of Transport and Communication Department of Accounts and Finance Central Transport Licensing Authority.Regulatory Bodies: Tanzania Civil aviation Authority Tanzania Communication Regulatory A uthority Surface and Marine Regulatory Authority Executive Agencies: Tanzania Airport authority Tanzania Government Flight Agency Tanzania Meteorological Agency. 1. 1 Background to the study Tendering is the method of procurement where by Suppliers, Contractors, and Consultants are invited by procuring entity to compete each other in submitting priced tenders for goods, works, or services (PPA 2004).It is the most popular method recommended by the Act due to its openness, transparency, efficient, and Economy. The history of Procurement Legislation in Tanzania of which tendering found its origin can be traced as far back to 1961 when the Exchequer and Audit Ordinance No. 21 of 1961 was enacted as a Legal mechanism for the purpose of controlling the Public Procurement and Supplies activities. Five years later i. e. 1965 the financial Order part Ill (Stores Regulation 5th Edition 1965) was enacted by the parliament as the guideline to the public Fund by Government officials.Due to the weakness of the old legislation, there was a number of studies carried out in the Country funded by the World Bank to review the Public Procurement System hich eventually found that there was a need for more effective legislation to govern Procurement in the Public Sector to repeal and replace the Exchequer ; Audit Ordinance of 1961, and consequently, Public Procurement Act No. 21 of 2001 came into the e ttect to cater tor the detlciencies ot the old legislations. The enactment of PPA 2001 was only part of the on going Public Procurement reforms.These reforms resulted into the enactment of the PPA 2004 which repealed PPA 2001. The enactment of PPA 2004 was aimed at addressing the deficiencies of the old legislation(s), by enforcing the best practices and professional standards of inancial Management and control of Public properties and resources It is because of this important historical background that TENDERING as a Procurement Method is accorded Importance by the Act due to its o penness, efficiency, economy, and as far as Public Expenditure is concerned.Good practice of tendering reduces total transaction costs and produce timely result, and efficiency use of resources, Poor practice of tendering led to waste and delays and often the cause of allegation of corruption and inefficiency (MasanJa 2004). It follows that the Public Sector particularly the Ministry of Infrastructure Development hould realize the values for money procurement and tendering, among other methods, it must be done in accordance to the existing procedures. 1. 2 Statement of the problem The service oriented organization has a core interest to attain vision and mission.Public Sector in Tanzania, Ministry of Infrastructure Development being one of it, is there to deliver better services to the society, in other hand it spent about 80% of the National Budget on the procurement of goods, Services and works. On realization of this truth the Government has enacted the procurement laws as the gu ide to ensure roper utilization of Pubic Funds. One feature of procurement laws is open/unrestricted tendering characterized by fairness, transparency, and economy.The procedure requires some steps to be accomplished before the contract for delivering of goods, services or execution of work is awarded to the prospective bidder. Open tendering is the most popular procurement method envisage by the Public Procurement Act No. 3 of 2004. It follow that the role of effective open tendering procedures and regulation is to ensure that the system is operated in such away that it reduces the transaction costs, fficiency use of the resources available, efficiency utilization of the time required, and ensure that the system is understood and can be handled by the concerned parties properly.This will Justify the proper use of Public Fund and the attainment of Entitys objectives. The efficiency and adequacies of tendering procedures and quality performance is the end result realization. This is to say that if open tendering is adhered and administrated according to the laid down effective procedures and regulation the end result will be quality of goods, works and services delivered. 1. 3 Research Questions 1. 3. 1 General Question Is open Tendering as a procurement method in Public Sector e 71 32 Specitlc Questions O Are the people involved in procurement?I. e. members, the knowledge of Public Procurement Act 2004? Ministerial Tender Board PMIJ member and HOD have O Are the procedures and Regulation as directed by PPA for open tendering adhered by tender board members or tender evaluation committee or the PMIJ? O Are the tender documents prepared using standard tendering documents as issued by PPRA ? O Can lack of training and understanding of PPA 2004 and their respective regulations contribute to the ineffectiveness of tendering as procurement method? . 4 Study Objectives 1. 4. General Objective The general objective of the study is to evaluate factors that affect the e ffectiveness of open tendering as procurement method in Public Sector. 1. 4. 2 Specific Objectives OTO find out whether the procedures and regulations used for open tendering in the Public Sector are inline with PPA requirements OTO evaluate whether those people i. e. PMU, CTB,;HOD are well involved in the procurement and have the knowledge of the PPA and Regulations. OTO find out whether the lack of procurement capacity in Public Sector contributes to the ineffectiveness of open tendering.OTO check out hether tender documents are prepared according to Standard Tendering Documents and other guidelines (if any) issued by PPRA. 1. 5 Significance of the Study This study has shown clearly problems involved in tendering process including as well as factors hindering proper adhering procedures in Public Sectors. The study may attract the government, donors and NGOs on the need to build Procurement Capacity in the Public Sectors in Tanzania. On the other hand, this study has further served as guidelines for the future reference for those intending to study on procurement laws notably in the area of tendering transactions. . Scope and Limitation of the study his study has been conducted at the Ministry of Infrastructure Development Head Office, which is located in Dar-es-salaam City at llala Municipal. The study has based specifically on such areas as Procurement and Purchasing section, Tendering section and Supplies section. The study has examined the factors affecting the effectiveness of open tendering as procurement method in the Public sector. The coverage included system of procurement in tendering process, tendering documents and prospective laws applied.During the research period the researcher expected the following limitations: O On the Job training took a lot of time for researcher to do other work which has no relation with the researcher topic so time for research has beeen limited to acquire the required data through interviews and questionnaires. (J Som e ot the employees that the researcher managed to nave spot interview they became reluctant to give what is real practiced in the organization in fear that the information collected can be presented to the management and investigation can be made to the concerned staff.Successful Tender â€Å"Means a tender selected by the procuring entity as; offering the lowest evaluated cost in case the method of procurement used was competitive tendering or being the most responsive to the needs of procuring entity if the procurement method used as competitive quotations, single sources procurement, competitive selection or where goods or services are of minor value†. Supplier â€Å"Means company, corporation organization, partnership, or individual person supplying goods, or services, hiring equipment or providing transport services and who is according to the contract is a potential party with the procuring entity' Tender â€Å"Means offer, proposal or quotation made by a supplier, co ntractor, or consultant in response to a request drawn by a procuring entity' Works â€Å"All works associated with the construction, reconstruction, demolition, repair or enovation of a building structure, road or airfield†.Lowest Evaluated Costs ‘Means the priced offered by supplier, contractor or consultant that is found to be the lowest after consideration of all relevant factors and the calculation of any weighing for these factors, provided that such factors have been specified in the tender document†. 2. 3 Theoretical basic of the study. Mhilu (2006) in his paper presented during the 21st NBMM Professional Annual Conference contended that an open tendering is the preferred way to promote open and effective competition. He however agreed on the need to bring a balance etween tendering cost and the benefit received, he further enumerated circumstances where open tendering may not be the preferable method to include if; O There is Justification for single sour ce or emergence procurement or OThe cost of an open tendering exceed direct savings that might be enjoyed or OThere are other benefits foregone by using another procurement method.The World Bank guideline (1999) maintained that the objective of tendering is to attain both the classical and contemporary procurement objectives that include transparent and all aspects contributing towards proper administration of tender, hese are proper goods, works and services of right price, through authorization and in a transparent manner. The guideline further continue that, competitive bidding or tendering is the most effective method in attaining the above mentioned objective when properly administered. i Open Tender This is tendering process which is done through open advertisement through widely circulated media such as newspapers of wide circulation. Through the advertisement a procuring entity states its requirements through specification and terms of purchase. Potential suppliers / Contrac tors & Consultants respond to the

The Narative Life of Frederick Douglas essays

The Narative Life of Frederick Douglas essays The Narrative of the Life of Frederick Douglass Access to education is a fundamental right. It is what contributes to our ability to sustain communities, cities, and countries. During the pre-civil war period, the right to an education was restricted to only white people. This meant white society could enjoy and reap the benefit of an education while others like Frederick Douglass were forced to endure a life of slavery. It was not only culturally acceptable for blacks to be forced into hard back-breaking work, but this was all they knew growing up; in a life of slavery. The life of bondage into which Douglass was born taught nothing to him other than of slaverys brutality and ruthlessness towards human beings. Uneducated, he remained After Frederick was born, he worked for Captain Aaron Anthony. A cruel man who worked his slaves on the plantation hard and treated them like animals. A good example of this was the fact that, along with the de-humanizing conditions slaves faced, they were also forced to eat their cornmeal mush from a trough. Animals and slaves were treated in similar ways. In the mindset shared by the majority of white people it was culturally acceptable to own, beat, starve, and deprive a black slave of their individuality. Frederick Douglass was a young slave when he was sold to his new captors. Traveling to Baltimore, Maryland to work for Hugh Auld, Douglass, in his new home, made the first leap towards a re...

Should You Send Old or New SAT Scores Expert Guide

Should You Send Old or New SAT Scores Expert Guide SAT / ACT Prep Online Guides and Tips If you've taken the old SAT and the redesigned SAT, you may be wondering which scores you should send to colleges. Should you send all your scores? Should you just send your results from the test with the highest average section scores? In this article, I'll explain the factors to consider when determining whether you should send old or new SAT scores. General Differences Between Old and New SAT Scores The old SAT was out of 2400 and the new one is out of 1600. The new SAT combines Reading and Writing into one section score out of 800. Reading and Writing were two separate sections on the old SAT, and both were out of 800. Also, the essay was a mandatory component of the Writing section on the old SAT. Now, the essay is optional- it's its own section and it doesn't impact your overall SAT score. Some schools will require the essay on the new SAT, so check the requirements of the colleges you're applying to. Here's a more thorough breakdown of the old SAT vs. the new one. Most Schools Accept Both the Old and New SATs For the classes of 2017 and 2018, the vast majority of schools will accept scores from the old SAT and the redesigned SAT, but make sure you check the specific policies for the schools you’re applying to. You have to send the scores that the school will accept, and while most colleges will accept scores from either version, some may only accept scores from the new SAT. For example, Yale will accept scores from the old SAT for the classes of 2017 and 2018, but will only accept scores from the new SAT for the classes of 2019 and beyond. Northwestern will accept scores from the old test for the class of 2017, but it's one of the few schools that won't accept scores from the old test for the class of 2018. Look at each school’s website to find its requirements. If you can’t find information there, call the admissions office. Some colleges may only accept scores from the new SAT. Why Does It Matter Which Scores You Send? If you’ve taken the old SAT and the current SAT, you may think that you can send scores from both tests and that colleges will just consider your highest section scores or your highest overall score. Actually, though, that may not be true. Most Schools Don't Superscore Between the Old and New SAT Superscoring is the process by which colleges consider your highest section scores across all dates you took the SAT. Even schools that do superscore are unlikely to do so between the old test and the current one. If you did better on Reading on the old test and better on Math on the new one, colleges probably won't consider both section scores when evaluating your SAT scores. New SAT Scores Are Slightly Inflated Also, schools most likely won’t just focus on the higher overall score between the two tests because scores on the new test are somewhat inflated. For example, an 1100 on the new SAT is equivalent to a 1020 on the Critical Reading and Math sections of the old SAT. Therefore, if you averaged 550 per section on the new SAT and a 520 per section on the old SAT, you actually did better on the old SAT despite having a higher score on the new one. What matters to colleges isn't your score but how well you did relative to other college applicants. What Should You Do? Here are the various options you have if you’re deciding between sending your old scores and new scores. Send Both You’ll have to use this option for colleges that require you to send all your scores. If you're given a choice, sending scores from the old test and the new one may be a good option if you did significantly better on Reading or Math on one test vs. the other, but your overall scores were comparable. Even if the school won’t superscore between the two tests, they’ll be less likely to think you have any skill deficiencies. For example, let’s say you got a 650 in Math on the old test and a 500 in Critical Reading. If, on the new test, you got a 620 on Reading and Writing and a 550 on Math, your overall scores would be similar, but the old test would show much stronger math skills and the new test results would show stronger reading comprehension. Therefore, you can send both if your section scores on the different versions of the test show different strengths or minimize your weaknesses. Also, you may want to send both if you reached your target scores on both the old and the new tests. If you got a 2300 on the old test and a 1590 on the new test, feel free to send both scores. Showing good scores on two different tests may be more impressive to colleges. Use Concordance Tables and Send the Best Score Remember that the scores on the new SAT aren’t equivalent to those on the old SAT; the scores on the new test are slightly higher. Therefore, the SAT has created concordance tables to convert new scores to old scores and vice versa. You can use these tables to determine which score is best and then send the best score. This option probably makes the most sense for the majority of students. Send the Old SAT The argument for just sending your scores from the old SAT is that colleges are much more familiar with the old SAT and may be able to more easily interpret your scores. This could be a good option for students who did the same or better on the old SAT. Because scores on the new SAT are slightly inflated, an equivalent score on the old SAT is more impressive. What's Next? If you've taken the ACT, check out this post for conversion tables from the ACT to the old and new SAT. If you're studying for the new SAT, learn why using Khan Academy isn't enough. Finally, check out this post to understand the importance of the SAT. Disappointed with your scores? Want to improve your SAT score by 160 points?We've written a guide about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Japanese Writing for Beginners

Japanese Writing for Beginners Writing might be one of the most difficult, but also fun, parts of learning Japanese. The Japanese dont use an alphabet. Instead, there are three types of scripts in Japanese: kanji, hiragana and katakana. The combination of all three is used for writing. Kanji Roughly speaking, kanji represents blocks of meaning (nouns, stems of adjectives and verbs). Kanji was brought over from China around 500 C.E. and thus are based on the style of written Chinese characters at that time. The pronunciation of kanji became a mixture of Japanese readings and Chinese readings. Some words are pronounced like the original Chinese reading. For those more familiar with Japanese, you might realize that kanji characters do not sound like their modern-day Chinese counterparts. This is because kanji pronunciation is not based on modern-day Chinese language, but the ancient Chinese spoken around 500 C.E.   In terms of pronouncing kanji, ththere are two different methods:  on-reading  and  kun-reading. On-reading (On-yomi) is the Chinese reading of a kanji character. It is based on the sound of the kanji character as pronounced by the Chinese at the time the character was introduced, and also from the  area  it was imported. Kun-reading (Kun-yomi) is the native Japanese reading associated with the meaning of the word. For a clearer distinction and an explanation of how to decide between on-reading and  kun-reading,  read what  is  On-reading and Kun-reading? Learning kanji can be intimidating as there are thousands of unique characters. Start building your vocabulary by learning the top 100 most common kanji characters used in Japanese newspapers. Being able to recognize frequently used characters in newspapers is a good introduction to practical words used every day.   Hiragana The other two scripts, hiragana and katakana, are both kana systems in Japanese. Kana system is a syllabic phonetic system similar to the alphabet. For both scripts, each character typically corresponds with one syllable. This is unlike kanji script, in which one character can be pronounced with more than one syllable.   Hiragana characters are used to express the grammatical relationship between words. Thus, hiragana is used as sentence  particles  and to inflect adjectives and verbs. Hiragana is also used to convey native Japanese words that do not have a kanji counterpart, or it is used as a simplified version of a complex kanji character. In order to emphasize style and tone in literature, hiragana can take the place of kanji in order to convey a more casual tone. Additionally, hiragana is used as a pronunciation guide to kanji characters. This reading aid system is called furigana. There are 46 characters in hiragana syllabary, consisting of 5 singular vowels, 40 consonant-vowel unions and 1 singular consonant. The curvy script of hiragana comes from the cursive style of Chinese calligraphy popular at the time when hiragana was first introduced to Japan. At first, hiragana was looked down upon by educated elites in Japan who continued to used only kanji. Consequently, hiragana first became popular in Japan among women as women were not granted the high levels of education available to men. Because of this history, hiragana is also referred to as onnade, or womens writing.   For tips on how to properly write hiragana, follow these stroke-by-stroke guides.   Katakana Like hiragana, katakana is a form of Japanese syllabary. Developed in 800 C.E. during the Heian period, katakana consists of 48 characters including 5 nucleus vowels, 42 core  syllabograms  and 1 coda consonant. Katakana is used transliterate foreign names, the names of foreign places and loan words of foreign origin. While kanji are borrowed words from ancient Chinese, katakana is used to transliterate modern-day Chinese words. This Japanese script is also used for onomatopoeia, the technical scientific name of animals and plants. Like italics or boldface in Western languages, katakana is used to create emphasis in a sentence.   In literature, katakana script can replace kanji or hiragana in order to emphasize a characters accent. For instance, if a foreigner or, like in manga, a robot is speaking in Japanese, their speech is often written in katakana. Now that you know what katakana is used for, you can learn how to write katakana script with these numbered stroke guides. General Tips If you want to learn Japanese writing, start with hiragana and katakana. Once you are comfortable with those two scripts, then you can begin to learn kanji. Hiragana and katakana are simpler than  kanji,  and have only 46 characters each. It is possible to write an entire Japanese sentence in hiragana. Many childrens books are written in hiragana only, and Japanese children start to read and write in hiragana before making an attempt to learn some of the two thousand kanji commonly used. Like most Asian languages, Japanese can be written vertically or horizontally. Read more about when one should write vertically versus horizontally.

A Critical Review of the Use of Dogs in the US Army During the WWII Essay

A Critical Review of the Use of Dogs in the US Army During the WWII - Essay Example In the past, the main of role of trained dogs was that that of sentries or patrols. But in modern warfare, dogs had been used the most tactfully. Though in post modern warfare, dogs’ role has mostly been replaced by modern technology, they played a crucial role in the US Army during the Second World War (Blumenstock pars. 2). After the attack on Pearl Harbor Navy Base in December 7, 1941, the US Army led a campaign to inspire the pet-owners to donate their dogs to the army-training camps. The US Army named this campaign as â€Å"Dogs for Defense†. In order to inspire the owner, they further claimed that the dogs would be trained to be accustomed into civil life after the war. Indeed, it was the beginning of the dog-squad in the US military. Subsequently, martial dog training programs were adopted and, in the meantime, a number of dog-training centers were established to facilitate the programs around the country (MWD History, pars. 2). Some of the dog-training centers w ere Gulfport, Fort Carson, Rimini, San Carlos, Fort Washington, Fort Riley, Fort Belvoir, Fort Robinson, Nebraska Camp, Beltsville, etc. During the Second World War, the US Army used dog to perform a number of risky as well as routine jobs. According to the types of breed and performance, the dogs were to be sled dogs, sentry, scouts, mine-detecting dogs, wire-layer, pack-pullers, and messenger dogs. The military training of a dog used to take 8-12 week to be fully trained. By late 1944, the Army selected about seven breeds of dogs to receive the highest performances in war-fields. Among these breeds were German Shepherd, Doberman Pinscher, Collie, Belgian Sheep dog, Eskimo, Alaskan Malamute, Siberian Husky, etc. During the Second World War, the German Shepherd was the most preferred choice in the army because of its courage, strong sense of responsibility, keen nose, strength, adaptability and trainability. Doberman Pinscher was second to German Shepherd in terms of strength, nervo us power, speed, sensing power, and tractability. Collie and Belgian Sheep dogs were mainly used as messengers for their loyalty, alertness, endurance and agility. Muscular and sturdy breeds were generally used for pack-pull and wire-laying jobs. Alaskan Malamute, Eskimo and Siberian Husky belonged to this group. Among these three breeds, Siberian Husky was the most desired type because of their speed and endurance. During the war, the US dog-squad’s performance was surprising (Blumenstock pars. 2-4). Due to their high sensibility, loyalty and alertness, the military dogs were the preferred options for the soldiers in many war fields. There were many fields where dogs were more skillful performers than the soldiers. During the WWII, the war-theater-wise performance of the US military dogs was great. The dogs showed great performances mainly in two theaters: the pacific theater and the European theater. In 1944, under the command of William W. Putney, the â€Å"3rd Marine War Dog Platoon† played a crucial role in the liberation of Guam from the Japanese occupation. According to the MWD, approved and led by the US Congress, â€Å"Twenty-five of Lieutenant Putney's war dogs gave their lives in the liberation of Guam and were buried there in a War Dog Cemetery with name markers† (MWD History, pars. 2). In the war-field of Guam, the Doberman Pincers breed showed a great performance in guarding and scouting along the frontline of the war. Evading the enemies’ eye, they successfully worked as messengers between the US camps. Several of the success stories are as following: In February 17, 1945, a war-dog called Bruce saved two wounded soldiers from the attack of three Japanese infantrymen. During the nocturnal

Successful marketing stories Essay Example | Topics and Well Written Essays - 1500 words

Successful marketing stories - Essay Example Companies like Apple have attained brand equity through constant innovation and excellent customer service. Apple products like iPod are built on advanced communication technology and additional features like e-mail and messaging capabilities, which have increased the level of customer satisfaction. Apple has been able to segment the market by offering products that meet the different customer needs. Apple has been able to implement technology and innovation in all the marketing mix elements such as the price, promotion, place and product. Successful marketing stories Introduction Marketing is practiced nearly in every business in the world regardless of the size of the business or the nature or industry in which the business operates (Hartline & Ferrell, 2010). The basis of all marketing activities is to create and deliver value to the customer (Hartline & Ferrell, 2010). Customer value can be defined as; the difference between the value the customer gains from owning and using the product and the costs of obtaining the product. The first thing all marketers should remember is that successful marketing starts with identifying the right market for the products and services, and designing the appropriate marketing communication messages which are tailored to the particular market and target customers (Hartline & Ferrell, 2010). The marketer should also choose the right communication media, which can either be audio or print, hence, the channel selected should effectively deliver the message to the target customers (Shimp, 2008). The marketer should also strive to do a follow-up of the effectiveness of the marketing strategies by evaluating either the growth in business revenues or market share. This paper will discuss the marketing principles and strategies which successful organizations have used to gain a leadership position in market share in the industry. Marketing is to most sensitive function of the organization since it deals closely with the customers, h ence, creating customer value and establishing good working relationships with the customers is the heart of modern marketing efforts. The paper will discuss the principles of marketing, and how the business can utilize them to gain a competitive edge over the competitors. Thesis statement The success of the business is dependent on the marketing strategies used by the business. Elements of marketing strategy The marketing strategy of a business is composed of various elements which interrelate. The key element is the market selection and the product planning which is choosing the product line and the product offerings for the target market. A firm can either choose a single market strategy or multi market strategy. In a single marketing strategy, the firm will concentrate its efforts in serving a single unique market segment while avoiding competition with the dominant players (Hartline & Ferrell, 2010). In a multi marketing strategy, the firm will serve several distinct markets, h ence, the firm should carefully select the target markets which are viable. In a total market strategy, the firm will offer differentiated products to different market segments; hence, it should utilize the marketing variables like the price, promotion, product and distribution strategies in competing effectively in the entire market (Hartline & Ferre

Essential factors for personal development and success in the United Essay

Essential factors for personal development and success in the United States of America - Essay Example This essay will describe the factors that attribute to success within the American setting as reflected by Yang in his article. According to Yang, Asian Americans are having a difficult time within the American setting. Asian Americans grow up with Asian intrinsic values that prove very different from what the American culture upholds. Children born of Asian families in America have a unique set of values that defines the personality that they adopt. It is evident that culture plays a critical part in personality development, explaining why Yang describes how the Asian culture has molded them into individuals that exhibit significant differences from the Americans within the class setting, workplace and in relationships (Barrios, 2013). . However, Yang (2011) highlights that the impact of the Asian culture in their personality development has served them little good. In real sense, he laments that the Asian culture has led to the development of multiple stereotypes that serve as setb acks for people of Asian descent to succeed. Yang highlights that most of the Asian American score good grades and secure position in prestigious institutions within America. He highlights that the Asian culture of hard work and devotion makes them successful in school. However, multiple stereotypes associated with the Asian Americas have served to deny them chances in the workplace that conform to their academic achievement, making them, ‘paper tigers’ with impressive certificates but lacking opportunities. He highlights that such stereotypes have only served as a ‘black ceiling’ preventing many Asian Americans that they rightly deserve from their academic qualifications. He present nine examples and profiles of Asian Americans, and reveals how Asian attributes and stereotypes associated with the Asian American have denied them chances in the workplace and in relationships. Yang describes Asian Americans as ‘bananas’, highlighting that they ar e Asian on the outside and white in the inside, but is keen to mention that the two sets of cultures are incompatible. However, if circumstances are to prove different for any of the Asian Americans, they have to follow the advice that the author presents of having the willingness to do things differently. A change of attitude for the Asians, and their determination to overcome the stereotypes that pull them can serve help them become outstanding individuals. It is possible that the strength of ties described by Malcolm will be of critical importance to Asian Americans (Yang, 2011). Yang’s critique has given rise to a heated debate in the society. It becomes questionable what Asian Americans should do different in order to succeed. Apparently, they are doing well in academics, but are not securing jobs as expected despite their qualifications. Should Asian Americans abandon Asian values and adopt attributes defined by then dominant American culture? Gladwell Malcolm mentions in his essay ‘small changes’ that one should try to be different. Asian Americans are yet to experience full integration into the American culture. Although they live and school in America, their Asian aspects have remained evident. Evidently, Asian Americans can work together towards developing ‘strong ties’ as defined by Gladwell. Such strong ties will help them overcome the black ceiling established by the lack of complete integration into

National day in U.A.E Essay Example | Topics and Well Written Essays - 250 words

National day in U.A.E - Essay Example What is its significance for citizens? Facts about the UAE The UAE is a Middle Eastern federation of seven states situated in the southeast of the Arabian peninsula in the southwest Asia on the Arabian Gulf, bordering, Oman and Saudi Arabia, from tribally organized peninsula. The seven states of Emirates are Abu Dhabi, Dubai, Sharjah, Ajman, Umm – AlQwain, Ras AlKhaimah and Fujairah. Immense wealth has been invested in numerous development projects, capital improvements, social services throughout the UAE. It is one of the most developed federations in the world. Over 200 nationalities and cultures are represented here. Therefore professional Arabic translation and interpretation services play a major role. The UAE’s History Near the end of the nineteenth century, the UK and the Trucial sheikdoms established close bonds in 1892 treaty. One of these bonds is that British promised to protect the Trucial Coast from all aggression by sea and to help in case of land attack. After the First World War, Japan invented the cultured pearl. Their invention destroyed our â€Å"Natural Pearlsâ€Å" that means they became worthless. This affected our economy and business. In the early 1960s, oil was discovered in Abu Dhabi. As a result, Sheikh Zayed undertook a massive construction program, building schools, housing, hospitals and roads.

Analyzing the Yield Curve Essay Example | Topics and Well Written Essays - 500 words

Analyzing the Yield Curve - Essay Example The figure below shows the yield curve of US Treasury of 11th February 2011. The key point here is that only bonds with different maturities of US Treasury have been selected since they are default free and do not have credit risk associated with them. Despite the fact that these bonds are risk free than why the yield curve is positive sloping that is its yield is increasing with an increase in maturities. Figure 1: US Treasury bond yields as of Feb 11, 2011 (Source: www.bondsonline.com) Table 1: Yield on US Treasury bonds with different maturities The reason why it’s upward sloping is because the curve shows the expectations of the investors about future interest rates. The investors require a higher rate of return as a compensation for lending their money for a longer period of time. In addition to that, the figure also reveals that as the Fed rate is currently on a very lower side therefore the market believes that in the future the returns will adjust due to inflation and other macroeconomic factors. This is more related with the expectations theory of the investors. The yield curve shifts over the period of time that is interest rate of different maturities increase or decrease on similar risk bonds. This is for a number of reasons that causes shifts in yield curves. Firstly, the economic scenario in a country determines how the yield curve should behave.

National day in U.A.E Essay Example | Topics and Well Written Essays - 250 words

National day in U.A.E - Essay Example What is its significance for citizens? Facts about the UAE The UAE is a Middle Eastern federation of seven states situated in the southeast of the Arabian peninsula in the southwest Asia on the Arabian Gulf, bordering, Oman and Saudi Arabia, from tribally organized peninsula. The seven states of Emirates are Abu Dhabi, Dubai, Sharjah, Ajman, Umm – AlQwain, Ras AlKhaimah and Fujairah. Immense wealth has been invested in numerous development projects, capital improvements, social services throughout the UAE. It is one of the most developed federations in the world. Over 200 nationalities and cultures are represented here. Therefore professional Arabic translation and interpretation services play a major role. The UAE’s History Near the end of the nineteenth century, the UK and the Trucial sheikdoms established close bonds in 1892 treaty. One of these bonds is that British promised to protect the Trucial Coast from all aggression by sea and to help in case of land attack. After the First World War, Japan invented the cultured pearl. Their invention destroyed our â€Å"Natural Pearlsâ€Å" that means they became worthless. This affected our economy and business. In the early 1960s, oil was discovered in Abu Dhabi. As a result, Sheikh Zayed undertook a massive construction program, building schools, housing, hospitals and roads.

Coursework Essay Example | Topics and Well Written Essays - 3000 words

Coursework - Essay Example Introduction The global financial have been experiencing a rapid growth in last two decades and considering the present scenario of the global market, it can be claimed the market is emerging with major developments. The globalization of financial market has been passing constant developments which have been led by the concept of globalization and internationalization. Globalization has influenced the entire human activities including their culture and life style. In case of the business, the globalization has led to bring significant improvement including the process of management. The thought process of managers and owners has changed as they have started to realize their responsibilities. On the other, with this internationalization of business, the entire global business is also suffering from complexities and intensified competition. However, in order to cope with these complexities and competition, the business organizations have also developed a number of effective tools and t echniques. In the same manner, the global financial markets have also emerged as an important and developed industry. Finance always has been a vital area for the every individual and institution. With the increasing the globalization of business, the necessity of financial services has also been frequently. The global the financial institutions and companies have realized the underlying opportunities in global platform and they keep expanding their market. In this course of development in the global financial markets, there are certain influencing factors. This paper will attempt to discuss important aspects of international financial markets which have led to bring such development. The overall discussion will be presented in four major sections followed by a concluding remark. The first will address the role of financial deregulation and capital control in international diversification. The next section will offer s discussion the two major drivers of financial i.e. technology an d innovation in global financial market and it will be followed by a description and mechanism of carry trade strategy. Finally, the influence of international capital market on share price and cost of capital will be explained followed by an overall conclusion. 2. Role of Financial Deregulation and Capital Control on Financial Globalization and International Diversification 2.1. Concept of Financial Deregulation and Capital Control The importance of the financial deregulation has started to rise with increasing opportunities in the global market place. Financial deregulation can be referred as abolishment of restrictive laws that often cause barriers for the financial institutions. Financial deregulations are important and similar as the free trade policies. Both, the financial deregulation and free trade policy strive to bring development in the market by increasing competition Hope and Maeleng have defined the free trade policies as â€Å"competitor-enhancing device† as it is meant to discard the unnecessary restriction and barriers by offer

Industrial Development and Western Expansion’s Effect on US Farmers Essay Example for Free

Industrial Development and Western Expansion’s Effect on US Farmers Essay True, the United States of America’s surge in industrial development and western expansion were indeed crucial factors that led to protests by farmers. This is evidenced by many different events that occurred during the time when industrialization was most in focus in the United States. This onset of industrial boom occurred some time between the 18th century and the 20th century. The fist thing that should be tackled here in order for one to understand the truth behind the initial statement of this essay is the Western United States. This refers to the westward expansion of the United States. Because of the demand for more land, the rich prairie lands of the west proved to be a lucrative source for larger areas of development. Many chose to pursue a life in the west and resided there. America’s expansion towards its west allowed more than 400 million acres of free land to be utilized for whatever purposes could be thought of by its new owners. This had numerous implications for the American citizen, most especially to the American farmer. Land became available in bulk over night. However, despite this availability, farmers and farm labor decreased by at least 30% during this stage. This decrease in production may have been due to the increase in individuals who could provide satisfaction to the market’s demand for agricultural products. Thus greater production also led to lower costs for the said products on the agricultural market. Farmers found themselves unable to compete with this change. The industrial development which had already begun at that time also contributed to this. Farmers found themselves unable to deal with industrialization. The industrialization of the agricultural industry meant new innovations, new machines. Some of these innovations included railroads which allowed the harvested agricultural products to reach the market more quickly. Other innovations such as the refrigerator allowed for preservation of the produce. Farm yields now reached more distant places but could also now be processed in factories to last longer. This meant that the farmers were up against a major competitor in the food industry, markets and globalization. Local family farms found themselves unable to keep up with the tide of new instruments. Although machines were available for them to work more efficiently such as the reaper, the steal plow, and the harvester, these were not enough for the greater capabilities of factories and national manufacturers. The marginalization of the individual farmer in the face of westward expansion and industrial development brought much distress and discontent. Protests were held and many voiced their frustration at the economical change that seemed to have happened over night. Farmer organizations such as The Grange and Farmers Alliance were established. These worked to demand regulations, protective tariffs, trade policies, conservative monetary policies and the like. It is clear from the evidence given that westward expansion and industrial development truly were factors in the protests of farmers. Whether these two issues proved to have good results in the long run is a different matter. It is sufficient to say that these caused much discontent in farmers at the time enough so that they rose in protest. References Cowan, Ruth Schwartz (1997) A Social History of American Technology, New York: Oxford University Press Hindle, B. Lubar, S. (1986) Engines of change: the American industrial revolution, Washington: Smithsonian Institution Press Meyer, D. (1989). Midwestern industrialization and the american manufacturing belt in the ineteenth century. The Journal of Economic History, 49(4), 921-937 Shannon, F. (1950). The status of the midwestern farmer in 1900. The Mississippi Valley Historical Review, 37(3), 491-510

Differentiate Between Investment Speculation And Gambling Finance Essay

Differentiate Between Investment Speculation And Gambling Finance Essay Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time.[1] In contrast putting money into something with an expectation of gain without thorough analysis, without security of principal, and without security of return is gambling. Putting money into something with an expectation of gain with thorough analysis, without security of principal, and without security of return is speculation This is the ups and downs of the market. When the market experiences big swings up and down, especially down, this can make a lot of folks sick. The sicker it makes you feel the more you should look at your portfolio and adjust it so you can handle the wild swings of the market. This could mean that you invest a higher percentage of your portfolio in bonds, which are a less risky type of investment. Inflation Risk The cost of living goes up. If you invest in something that returns 2% and inflation goes up 4% then youve lost 2% of the value in your investment. My parents and parents-in-law thought they would be able to live their retirement years with $100,000.00. Back then, 1930s thru 1940s, $100,000.00 made people feel they were rich forever. Opportunity Risk Opportunity Risk is when you decide to invest in one type of investment, youre also deciding not to invest in others. So if you commit money to a certain investment and it goes down in value, youre stuck in that investment and are not able to participate in another investment that might be more attractive. This is especially apparent when you purchase your own bonds for instance. You could be stuck in a 10-year bond and you want to get out because of high interest rates. You would then be forced to sell for a loss. Its much better to invest in bond funds because the fund manager has the ability to invest in many different types of bonds. Reinvestment Risk Reinvestment Risk has to do with timed investments like CDs and bonds that you purchase yourself. A mutual fund manager has the ability to diversify a portfolio of these types of investments by selecting from a larger basket of different types of CDs and bonds to reduce the risk. Concentration Risk Diversification, Diversification, Diversification. Dont concentrate your investment dollars in one type of investment. Read my article here on Diversification. Interest Rate Risk When the Fed messes around with the interest rates moving them up and down, the markets react. The value of bonds go up when interest rates go down. The value of bonds go down when interest rates go up. Keeping a well diversified portfolio will reduce the affects the Feds have on your portfolio. Credit Risk The Credit Crunch is what weve been in lately. The financial sector has taken a hit. The financial sector includes lenders like Countrywide Bank. On another note, Im watching that sector with everyone else because it just might be getting ripe to pick. Since I write about options at this site thats how Id play it if something comes up that looks interesting. Marketability Risk Having the ability to sell you investment(s). This pertains to a low interest in stocks, bonds or CDs that you may personally own. By low interest I mean not enough buyers. This is reduced immensely if you invest in a mutual fund. Currency Translation Risk The value of the dollar goes up and down in the international market depending on what country. This is one reason why its good to just have 10% of your portfolio in the international market. Timing Risk The market goes down and you feel uncomfortable about it so you sell one of your investments that you shouldnt sell bad timing. Difference between Investment , Speculation : The main difference between speculating and investing is the amount of of risk undertaken in the trade. Typically, high-risk trades that are almost akin to gambling fall under the umbrella of speculation, whereas lower-risk investments based on fundamentals and analysis fall into the category of investing. Investors seek to generate a satisfactory return on their capital by taking on an average or below-average amount of risk. On the other hand, speculators are seeking to make abnormally high returns from bets that can go one way or the other. It should be noted that speculation is not exactly like gambling because speculators do try to make an educated decision on the direction of the trade, but the risk inherent in the trade tends to be significantly above average. The term investment is used to suggest a commitment that is relatively free from certain risk of loss.It is restricted to situations promising dependable income , relatively stable value, a modest rate of return and a relatively little chance for spectacular capital appreciation. People who seek high income yields or large capital gains are therefore said to forsake investment for speculation. Speculation differs from investment with respect to the limit of the investor i.e the period for which a person is investing and the risk-return characteristics of the investment.An investor is always interested in a good and consistent rate of return for a long period of time. However , a speculator is less interested in earning very large returns , higher than the normal rate of return , in a short time. The word speculate comes from the latin word, speculate meaning to see ahead . Speculation is a reasoned anticipation of future conditions. A speculator tries to perceive investment values ahead of the general public. It attempts to organize the relevant knowledge as a support for judgements. Infact , everything we do in this world is a speculation. One must have the courage to make decisions when the conditions are unfavorable such as panic , despair or optimism. Most successful speculators operate on a single principle of buying in underpriced markets and selling out in overpriced markets. Thus speculation is a deliberate assumption of risks in ventures , which offer the hope of commensurate gains. These expected gains might be much larger than an investment would offer.The speculation are more interested in price gains than in income. Difference between Investment and Gambling: According to most dictionaries , gambling is an art of risk taking without the knowledge of the exact nature of risk. Many people speculate heavily on the strength of tips or gossip and plunge into situation , which they do not understand. This is gambling even though the commitment is of reasonable speculative quantity. Gambling is based on tips , rumours and it is an unplanned and non-scientific act. A gambler risks more than he/she can afford. It is considered to involve the shortest time period and highest risk. Typical examples of gambling are betting on horse riding , game of cards , lottery etc.Holding shares for the duration of a stock exchange fortnightly account might be termed as speculation . but to bet on the course of the stock market over the same period with a book maker is considered to be a gambling. Difference between Gambling and Speculation Gambling and Speculation are popular among those who want to make easy money. One cannot deny that money has been ruling the world today. People always thrive to profit, and the easier it is to earn money, the better. With that mindset comes the popularity of gambling and speculation. But what might we overlook is the fact that even if these two seems to have the same goal, there is difference between gambling and speculation. Gambling If you want cash within a snap, maybe gambling can help you with that. When one say gambling, it would usually connote casinos, lotteries and slot machines. And every time you gamble, there are only two things you can expect, it is either you win, or you lose. This has been popular because you only have to spend a small amount of money for stakes that are very high. For example, in lottery, the jackpot would amount to millions of dollars, but you can bet for just a couple of bucks. Speculation If one wants to increase his chances to profit one might try to speculate. Speculation is just like investment, you initially put in a capital expecting a profit in return. This is also defined as the act of placing funds on a financial vehicle with the intention of getting satisfactory returns over an amount of time. The stock market is a widely known rendezvous for speculators. The main points of difference are as follows: Gambling and speculation are vehicles to profit easily. The probability to succeed in either gambling or speculation is undetermined. The success of a speculator would be because of his skills and knowledge while the success of a gambler would be due to his luck. Gambling can be done without thinking while speculation needs in depth study. 5. Speculation needs a lot more hard work compared to gambling Q2 : What are Financial Markets with examples? What is the difference between Money Market and Capital Market? Explain in detail one money market instrument and one capital market instrument. Ans :A financial market is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural goods. Structure of Financial Market FINANCIAL MARKET MONEY MARKET CAPITAL MARKET DERIVATIVES MARKET EQUITY MARKET LONG TERM DEBT MARKET FUTURES MARKET OPTIONS MARKET GOVT DEBT MARKET CORPORATE DEBT MARKET SECONDARY MARKET PRIMARY MARKET Types of financial markets: Within the financial sector, the term financial markets is often used to refer just to the markets that are used to raise finance: for long term finance, the Capital markets; for short term finance, the Money markets. Hence we can say that basically there are two types of markets: Capital Market Money Market Capital markets which consist of: Stock markets : which provide financing through the issuance of shares or common stock, and enable the subsequent trading thereof. Bond markets : which provide financing through the issuance of bonds, and enable the subsequent trading thereof. Commodity markets, which facilitate the trading of commodities. Capital markets are markets that trade equity (stocks) and debt (bonds) instruments having maturities more than a year. Due to their longer maturity , these instruments experience wider price fluctuations , higher credit and interest rate risks than the money market instruments. In contrast to money markets, capital markets are used for long term investments. They provide an alternative to investment in real assets such as real estate or gold. Money markets, which provide short term debt financing and investment. Money market consists of: Certificate of deposit Treasury Bills Commercial Papers etc The need for money market arises because of the immediate cash needs of individuals , corporation and govt do not necessarily coincide with their receipts of cash. The money market enables large sum of money to be transferred quickly and at a low cots from one economic unit ( business , govt , bank etc.) to another economic unit for relatively shorter period. Difference between Money Market and Capital Market: Money market is distinguished from capital market on the basis of the maturity period, credit instruments and the institutions: Maturity Period: The money market deals in the lending and borrowing of short-term finance (i.e., for one year or less), while the capital market deals in the lending and borrowing of long-term finance (i.e., for more than one year). Credit Instruments: The main credit instruments of the money market are call money, collateral loans, acceptances, bills of exchange. On the other hand, the main instruments used in the capital market are stocks, shares, debentures, bonds, securities of the government. Nature of Credit Instruments: The credit instruments dealt with in the capital market are more heterogeneous than those in money market. Some homogeneity of credit instruments is needed for the operation of financial markets. Too much diversity creates problems for the investors. Institutions: Important institutions operating in the money market are central banks, commercial banks, acceptance houses, nonbank financial institutions, bill brokers, etc. Important institutions of the capital market are stock exchanges, commercial banks and nonbank institutions, such as insurance companies, mortgage banks, building societies, etc. Purpose of Loan: The money market meets the short-term credit needs of business; it provides working capital to the industrialists. The capital market, on the other hand, caters the long-term credit needs of the industrialists and provides fixed capital to buy land, machinery, etc. Risk: The degree of risk is small in the money market. The risk is much greater in capital market. The maturity of one year or less gives little time for a default to occur, so the risk is minimised. Risk varies both in degree and nature throughout the capital market. Basic Role: The basic role of money market is that of liquidity adjustment. The basic role of capital market is that of putting capital to work, preferably to long-term, secure and productive employment. Relation with Central Bank: The money market is closely and directly linked with central bank of the country. The capital market feels central banks influence, but mainly indirectly and through the money market. Market Regulation: In the money market, commercial banks are closely regulated. In the capital market, the institutions are not much regulated. Explanation of Treasury Bills (Money market instrument): Treasury Bills (T-Bills): Treasury Bills, one of the safest money market instruments, are short term borrowing instruments of the Central Government of the Country issued through the Central Bank (RBI in India). They are zero risk instruments, and hence the returns are not so attractive. It is available both in primary market as well as secondary market. It is a promise to pay a said sum after a specified period. T-bills are short-term securities that mature in one year or less from their issue date. They are issued with three-month, six-month and one-year maturity periods. The Central Government issues T- Bills at a price less than their face value (par value). They are issued with a promise to pay full face value on maturity. So, when the T-Bills mature, the government pays the holder its face value. The difference between the purchase price and the maturity value is the interest income earned by the purchaser of the instrument. T-Bills are issued through a bidding process at auctions. The bid can be prepared either competitively or non-competitively. In the second type of bidding, return required is not specified and the one determined at the auction is received on maturity. Whereas, in case of competitive bidding, the return required on maturity is specified in the bid. In case the return specified is too high then the T-Bill might not be issued to the bidder. At present, the Government of India issues three types of treasury bills through auctions, namely, 91-day, 182-day and 364-day. There are no treasury bills issued by State Governments. Treasury bills are available for a minimum amount of Rs.25K and in its multiples. While 91-day T-bills are auctioned every week on Wednesdays, 182-day and 364- day T-bills are auctioned every alternate week on Wednesdays. The Reserve Bank of India issues a quarterly calendar of T-bill auctions which is available at the Banks website. It also announces the exact dates of auction, the amount to be auctioned and payment dates by issuing press releases prior to every auction. Payment by allottees at the auction is required to be made by debit to their/ custodians current account. T-bills auctions are held on the Negotiated Dealing System (NDS) and the members electronically submit their bids on the system. NDS is an electronic platform for facilitating dealing in Government Securities and Money Market Inst ruments. RBI issues these instruments to absorb liquidity from the market by contracting the money supply. In banking terms, this is called Reverse Repurchase (Reverse Repo). On the other hand, when RBI purchases back these instruments at a specified date mentioned at the time of transaction, liquidity is infused in the market. This is called Repo (Repurchase) transaction Debentures ( A Capital Market Instrument): A debenture is a document which either creates a debt or acknowledges it. Debenture issued by a company is in the form of a certificate acknowledging indebtedness. The debentures are issued under the Companys Common Seal. Debentures are one of a series issued to a number of lenders. The date of repayment is specified in the debentures. Debentures are issued against a charge on the assets of the Company. Debentures holders have no right to vote at the meetings of the companies. Kinds of Debentures: (a)Bearer Debentures: They are registered and are payable to the bearer. They are negotiable instruments and are transferable by delivery. (b) Registered Debentures: They are payable to the registered holder whose name appears both on the debentures and in the Register of Debenture Holders maintained by the company. Registered Debentures can be transferred but have to be registered again. Registered Debentures are not negotiable instruments. A registered debenture contains a commitment to pay the principal sum and interest. It also has a description of the charge and a statement that it is Issued subject to the conditions endorsed therein. (c) Secured Debentures: Debentures which create a change on the assets of the company which may be fixed or floating are known as secured Debentures. The term bonds and debentures(secured) are used interchangeably in common parlance. In USA, BOND is a long term contract which is secured, whereas a debentures is an unsecured one. (d) Unsecured or Naked Debentures: Debentures which are issued without any charge on assets are insecured or naked debentures. The holders are like unsecured creditors and may see the company for the recovery of debt. (e) Redeemable Debentures: Normally debentures are issued on the condition that they shall be redeemed after a certain period. They can however, be reissued after redemption. (f) Perpetual Debentures: When debentures are irredeemable they are called perpetual. Perpetual Debentures cannot be issued in India at present. (g) Convertible Debentures: If an option is given to convert debentures into equity shares at the stated rate of exchange after a specified period, they are called convertible debentures. Convertible Debentures have become very popular in India. On conversion the holders cease to be lenders and become owners. Q3: What is the difference between Real Assets and Financial Assets? Explain in detail three non- marketable securities: Ans: Investment instruments or assets or securities are broadly classified into two categories : Financial assets and Real Assets. Real assets determine the wealth of an economy , whereas financial assets are merely claims to income generated by real assets . They are represented by paper and can also be termed as paper assets. Real Assets: A real asset is a tangible asset like gold, oil, and real estate.It has intrinsic value due to its utility. Its value is derived by virtue of what it represents.Real Assets have low correlations to traditional stocks and bonds. Because commodities have low correlations to stocks and bonds, they can be a good choice to lower your overall portfolio risk while enhancing your potential for better long-term risk-adjusted returns. A real asset is a tangible asset like gold, oil, and real estate.It has intrinsic value due to its utility. Its value is derived by virtue of what it represents.The types of real assets are as follows: Gold Oil Goodwill Trade Marks Patents Copyrights etc. Why invest in Real Assets? Real Assets have low correlations to traditional stocks and bonds. Because commodities have low correlations to stocks and bonds, they can be a good choice to lower your overall portfolio risk while enhancing your potential for better long-term risk-adjusted returns. What are financial assets Financial assets include Cash, and those assets that can be converted to cash in a reasonably short period of time one year at most, but less time in many cases. We will study the following financial assets: Cash Cash Equivalents Short Term Investments Accounts Receivable Cash and Cash Equivalents Cash is just as the word suggests. It includes cash money including paper and coins, checks and money orders to be deposited, money deposited in bank accounts that can be accessed quickly. The term liquid refers to Cash, and the ease or difficulty of converting an asset into Cash.   Cash Equivalents are highly liquid short term investments that can be turned into Cash very quickly. These include US Treasury bills, money market accounts and high grade commercial paper. When corporations need to borrow money for a very short time, they often sell commercial paper. These come due within a few months at most, and pay a higher interest rate than other investments.   Short Term Investments Short Term Investments include stocks and bonds that the company intends to hold only for a short time, and then sell and convert back to Cash. We consider it a good practice to convert unneeded cash to an investment account, where it can earn interest, dividends or show capital gains. These are shown on the balance sheet at their current market value, even if that is higher than the price paid for the investments. This is one of the few times we increase a balance sheet item above its historic cost. Accounts Receivable Companies often sell to their customers on credit. The amount the customers owe is called Accounts Receivable (AR). We would record AR at the same time the sale is made, deducting any cash paid at the time of purchase, etc. When customers pay, we subtract the payment from their accounts receivable balance.   Most companies use an Accounts Receivable Subsidiary Ledger, which is similar to the General Ledger. The subsidiary ledger contains detailed information about each customers account purchases, payments, returns, adjustments, etc. Most companies send statements at the of each month, listing the monthly transactions and ending balance due from each customer.   Difference between Real Assets and Financial Assets: With the advancement of economy , the relative importance of financial assets tends to increase . Even though the real assets differ greatly from financial assets , two forma are complementary and not competitive. The difference between real assets and financial assets can be summarised as follows: Real Assets determine the wealth of a society or economy whereas financial assets do not represent societys wealth. Real Assets contribute directly to the productive capacity of the economy while the contribution of financial assets to the productive capacity is indirect because they facilitate the transfer of funds to enterprises with attractive investment opportunities. Real assets produce goods and services whereas financial assets define the allocation of income or wealth among investors. Real assets appear only on the asset side of the balance sheet , while financial assets appear on both sides of balance sheet. Investing in real assets carries more risks than investing in paper assets. Non- Marketable Securities: Some financial assets are said to be non-marketable because they are neither transferable nor negotiable . The investors actually own these assets and cannot buy and sell them in the secondary market. Types of non-marketable securities are as follows: Bank Deposits: The most popular non-marketable assets held by an investor include deposits with the banks and their saving schemes. There are various types of deposits with banks such as current accounts, saving accounts and fixed deposits . Deposits on current account do not earn any interest whereas bank deposits earn intereest.The interest rate on these deposits vary depending upon the maturity period. Since saving accounts are deposited at regular interval, they have a fixed rate of interest.However , fixed deposits are recurring deposits with varying maturity period.Hence, the rates also vary. Features: They are best known type of investments that offers a high degree of safety on both the principal and the return on that principal. Bank deposits are highly liquid and can be encashed anytime. Loans can be raised against bank deposits. Non-Negotiable Certificate Of Deposit: Commercial banks and other financial institution offer a variety of savings certificates known as certificate of deposits (CDs). These instruments are available for various maturities. As the maturity increases , the rate of interest offered also increases. However large deposits may command higher rates , holding maturity constant . The credit risk associated with large CDs depend directly on the credit worthiness of the financial institution that issue them. Since large CDs are not insured , a CD holder may lose principal if the financial institution fails. Money Market Deposit Account: Financial Institutions offer Money Market Deposit Accounts with no interest rate ceilings.The Money Market Deposit Accounts require a minimum deposit to open. They pay competitive money market rates of interest and are insured by the Federal Deposit Insurance Corporation (FDIC) if the issued bank is insured. Withdrawals can be made , as many times as desired , in person or through automated teller machines (ATMs). There are no limitations on the number of deposits.