Guerrilla Marketing A Startup s Phenomenon - 1175 Words

USW, Atrium University of South Wales Guerrilla Marketing: A startup’s phenomenon Kyle Sowden 14023601 BA(Hons) Advertising Design G107728 - Critical Paper Introduction One reason many startups fail is poor marketing. Due to minimal finances, startups are restricted from using a lot of traditional marketing methods that are often associated with high costs. An alternative strategy that does not require expensive financial resources and can help a company shine through the countless number of competing campaigns is guerrilla marketing. But is guerrilla marketing the only answer for start-ups? The aim of this dissertation is to contribute to the research on the phenomenon that is guerrilla marketing and answer the following: What is guerrilla marketing and is it the only answer for start-ups? In order to answer this effectively, we must first understand what guerrilla marketing is. The work of Jay Conrad Levinson will be used as the foundation for this paper as he is widely considered the godfather of guerrilla marketing, after first coining the term in his 1984 book Guerrilla Advertising’. Other sources will then also used to create an unbiased understanding in addition of guerrilla marketing and the theory surrounding it. A multiple case study exploring three unconventional campaigns from three different companies is used as a basis for Main Body â€Å"People that spread ideas, regardless of what those ideas are, win.† It is not what is offered that’sShow MoreRelatedMarketing Management 14th Edition Test Bank Kotler Test Bank173911 Words   |  696 PagesMarketing Management, 14e (Kotler/Keller) Chapter 1 Defining Marketing for the 21st Century 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firms intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit

A Brief Note On The Modern College Tuition - 1071 Words

The Modern College Tuition Yale University is among the most prestigious in the country; a union of Ivy League schools upheld by nothing but their name and age. Though these schools like Yale are famously known as an expensive path for an equal education, they receive a surprising number of applicants. While there are several options for avoiding a crippling college expense, the price of a school like Yale is beyond steep. Like any business, you want to generate as much revenue as possible compared to your expenses, so while the cost of a college degree can be expensive, it clearly has a demand comparable to that of its price (Heakal). Tuition alone is an obstacle, but when the expenses are all totaled together, you can certainly see the†¦show more content†¦Room costs $8,200 and board costs $6,400, totaling to $14,600. It shall be considered that this steep price is for use of the housing facilities located Yale’s campus; quite a convenient location to live when you must walk to multiple auditoriums daily. When combined, these expenses total to $65,725 every year at Yale University. This means that even if your required education fit into four years, it would already cost $262,900 (â€Å"Estimated Cost†). Without the benefits of financial aid, Yale acknowledges the heavy responsibility of the parents to provide the money necessary to pay for the education: â€Å"Yale believes that both parents have a responsibility to contribute toward their child’s college education, even if they are divorced or separated† (â€Å"Parent Contribution†). As this is stated directly on Yale’s website, it very accurately reflects how it expects the students to be dependent upon their family in order to receive an education at their school. In modern society, it is fully inappropriate for it to be the responsibility of the parents to provide a fixed proportion of their income for their child to go to a prestigious school that takes a certain level of brilliance to attend. Education has become more of a business than a liberty in the past couple of decades, and as seen by the evidence provided, it has merely encouraged dependence on someone else – a state anyone in busines s tries to avoid. Fortunately, there are several ways one

Nur405-Windshield Survey free essay sample

Windshield Survey My windshield survey was completed in the San Jacinto neighborhood in Amarillo, Texas. This neighborhood is a lower income area known for drugs and crime. Housing in this area consist mainly of rental properties that range from poor to adequate condition. Many different cultures can be identified in this area. There are also a lot of elderly that live in this area that require assistance. There are not a lot of health related services for these people to access in this area. Public transportation is available in this area, but not easily accessed. Community- consists of a group of people, who reside in a specific location. This group share government, it often consists of a common culture, and heritage. Community Health- is a field of study within public health that concerns it self with the study and improvement of the health of biological communities. Community as a client- is when nursing care is focused on the healthcare of the common good of the population instead of individual health. Healthy People 2020 indicator that will applies to surgery will be medical product safety. In surgery we deal with a lot of medical products and the risk for adverse reactions in patients are great. I feel a greater emphasis on the safety of these products would be a great benefit to patients. Results of Windshield Survey: Housing and Zoning- The homes in this neighborhood were built between 1920’s and 1940’s. They are mostly pier and beam homes with wood or asbestos siding. Some are stucco and very few brick homes. Most of them are detached single family homes, there are a few scattered duplexes and even a few mobile homes. General condition of these homes would be poor to average. A lot of the yards are overgrown or even just dirt. Several of the homes have cars parked in the yards. Broken and boarded up windows were common throughout the neighborhood. Several houses had paint that was chipping off. There were also several homes that had spray paint tagging on them. All of the homes had indoor plumbing. Most of them didn’t have central heat or air. They had window units or just had open windows with fans in them. Open space- This is an older established neighborhood. There is not a lot of open space left in this area. There are a few parks in the area, but they didn’t seem to be utilized by the public. Boundaries- The neighborhood lies between Amarillo Boulevard, Western Street, 6th street and Georgia Street. This is a lower income neighborhood. Median income would be below the poverty line. A lot of the homes are known drug houses, with several people living in one home. The area is known as San Jacinto. Also been called â€Å"San Ja-ghetto†. Commons- There is an area off 6th street in this neighbor hood that has bars and joints that seem to attract people from this neighborhood. A lot of the residents of this neighborhood seem to hang out in their yards and in parks in the area. They seem very territorially and not open to strangers. During my observations I passed several groups hanging out in their yards and didn’t very inviting looks from them. Transportation- A lot of cars seen in front of homes in the area, and seen driving around the area. They do have access to public transportation, but the access points would require them to travel quite a ways. Several people were also seen walking and riding bicycles in the area. The major highways access it at least three miles away. Service Centers- There is an elementary school and private school in the area. No active activities seen at either of them during the survey. No medical clinics or doctors offices noted in the area. There was one palm reader on 6th street. There is a YMCA in the area, which does have active programs for children. Stores- There was several convenient and discounts stores in this neighborhood. No grocery stores noted. There were a few bars and joints in the area. Most people were walking to these stores and seemed to gather outside these stores. Street people- a lot of people both males and females noted walking area the neighbor hood. They were from several different races, Caucasian, African-American and Hispanics. There were also several groups of people noted sitting outside of their homes. We noted several small children playing outside near streets with no adult supervision. Witnessing a young man being verbally abusive to a female and was escalating to a physical alteration. One group was several young black men smoking and playing cards. Several homes were noted to have â€Å"Beware of Dog† signs on their homes. Most of them had Pit Bulls in their yards. Several stray cats noted in the area, running around in yard and streets. Signs of Decay- This neighborhood seem ruined down. Crime is rampant in the area. Several police cars seen in the are during the survey. Bars seen on peoples windows and doors. Abandond homes with broken or boarded up windows noted. Old junky cars parked in yards. Old faded neighborhood watch sighs noted. Spray paint tagging of gang signs noted on fences and sides of houses. â€Å"Keep out or No Trespassing† signs noted on several homes. A duplex in the area had signs of recent crime. Orange paint laid out the crime scene, and bullet holes noted in sides of house. There was a spray painted tagged message on the wall between the duplexes that read â€Å"No More†. RIP sign shoe polished on a front door. Race, Ethnicity and Religion- Several different races were noted during the survey period. Caucasians, African-Americans, and Hispanics made of most the cultures in this neighborhood. Most of the business in the area advertised in English, but several Hispanic owned business are in the area and advertise in Spanish. No real signs of religious beliefs noted outside the residents. There area several churches in the area, beliefs ranging from Church of Christ, Methodist and evangelist. One church off 6th street offers a youth program for them on Wednesday nights. There is also a private school that is in this neighborhood that just seems to utilize the old church facilities in area, but don’t really serve the children in this area. Health and morbidity- there are signs of chronic drug use and alcohol usage. Several residents are seen on their front doors smoking with oxygen in place. No sighs warning that oxygen was in use or of no smoking noted. Due to previous knowledge of this area through medics there are a high number of residents that have sever medical issues. No there are no eailsy access medical clinic in this area. The closest hospital is at least 5 years away. Politics and Media- No political signs noted in yards throughout this neighborhood. Nor was any policatical advertisings noted on the main roads in or out of the area. Their people don’t have an easy access to media on a regular basis.

The Cask of Amontillado ( 1846)page 1 of 2 Essays - Fiction

The Cask of Amontillado" ( 1846)page 1 of 2 "For the love of God, Montresor!" (See Important Quotations Explained) Summary The narrator, Montresor, opens the story by stating that he has been irreparably insulted by his acquaintance, Fortunato, and that he seeks revenge. He wants to exact this revenge, however, in a measured way, without placing himself at risk. He decides to use Fortunato's fondness for wine against him. During the carnival season, Montresor, wearing a mask of black silk, approaches Fortunato. He tells Fortunato that he has acquired something that could pass for Amontillado, a light Spanish sherry. Fortunato (Italian for "fortunate") wears the multicolored costume of the jester, including a cone cap with bells. Montresor tells Fortunato that if he is too busy, he will ask a man named Luchesi to taste it. Fortunato apparently considers Luchesi a competitor and claims that this man could not tell Amontillado from other types of sherry. Fortunato is anxious to taste the wine and to determine for Montresor whether or not it is truly Amontillado. Fortunato insists that they go to Montresor's vaults. Montresor has strategically planned for this meeting by sending his servants away to the carnival. The two men descend into the damp vaults, which are covered with nitre , or saltpeter, a whitish mineral. Apparently aggravated by the nitre , Fortunato begins to cough. The narrator keeps offering to bring Fortunato back home, but Fortunato refuses. Instead, he accepts wine as the antidote to his cough. The men continue to explore the deep vaults, which are full of the dead bodies of the Montresor family. In response to the crypts, Fortunato claims to have forgotten Montresor's family coat of arms and motto. Montresor responds that his family shield portrays "a huge human foot d'or, in a field azure; the foot crushes a serpent rampant whose fangs are imbedded in the heel." The motto, in Latin, is "nemo me impune lacessit ," that is, "no one attacks me with impunity." Later in their journey, Fortunato makes a hand movement that is a secret sign of the Masons, an exclusive fraternal organization. Montresor does not recognize this hand signal, though he claims that he is a Mason. When Fortunato asks for proof, Montresor shows him his trowel, the implication being that Montresor is an actual stonemason. Fortunato says that he must be jesting, and the two men continue onward. The men walk into a crypt, where human bones decorate three of the four walls. The bones from the fourth wall have been thrown down on the ground. On the exposed wall is a small recess, where Montresor tells Fortunato that the Amontillado is being stored. Fortunato, now heavily intoxicated, goes to the back of the recess. Montresor then suddenly chains the slow-footed Fortunato to a stone. Taunting Fortunato with an offer to leave, Montresor begins to wall up the entrance to this small crypt, thereby trapping Fortunato inside. Fortunato screams confusedly as Montresor builds the first layer of the wall. The alcohol soon wears off and Fortunato moans, terrified and helpless. As the layers continue to rise, though, Fortunato falls silent. Just as Montresor is about to finish, Fortunato laughs as if Montresor is playing a joke on him, but Montresor is not joking. At last, after a final plea, "For the love of God, Montresor!" Fortunato stops answering Montresor, who then twice calls out his enemy's name. After no response, Montresor claims that his heart feels sick because of the dampness of the catacombs. He fits the last stone into place and plasters the wall closed, his actions accompanied only by the jingling of Fortunato's bells. He finally repositions the bones on the fourth wall. For fifty years, he writes, no one has disturbed them. He concludes with a Latin p hrase meaning "May he rest in peace." Analysis The terror of "The Cask of Amontillado," as in many of Poe's tales, resides in the lack of evidence that accompanies Montresor's claims to Fortunato's "thousand injuries" and "insult." The story features revenge and secret murder as a way to avoid using legal channels for retribution. Law is nowhere on Montresor'sor Poe'sradar screen, and the enduring horror of the story is the

Poetry and Catalog Poem A.i Essay Example

Poetry and Catalog Poem A.i Essay Example Poetry and Catalog Poem A.i Essay Poetry and Catalog Poem A.i Essay I. Examine the title and text for symbolism b. Images b. I. Identify the images and sensory details c. Figures of Speech c. I. Analyze figurative language and other devices d. Tone and Theme d. I. Discuss how all devices reveal tone and theme II. Reading Skills and Strategies a. Look for punctuation b. Do not make a full stop at the end off line if there is no period, comma, colon, semicolon, or dash c. If the poem is difficult to understand, look for the subject, verb, and complement of each sentence Ill. Vocabulary Terms a. Catalog Poem a. I. The repetition of items in the list creates a rolling rhythm when the poem is read aloud b. Repetition b. I. Refers to sounds, words, phrases, or lines that are states or used more than once in a poem c. Alliteration c. I. Repetition of consonant sounds at the beginnings of words d. Assonance d. I. Repetition of similar vowel sounds that are followed by different consonant sounds e. Personification e. I. An animal given human-like qualities or an object given life-like qualities f. Onomatopoeia f. I. Word or phrase that imitates the sound made by something else g. Oxymoron g. I. Figure of speech which contradictory terms appear side by side h. Hyperbole h. I. Figure of speech that uses exaggeration to express strong emotion or create comic effect I. Idiom I. I. Expression that meaner something different from the literal meaning of each word j. Allusion j. I. Reference to a statement, person, place, or an event V. Poetry Analysis a. What is the poem about? B. Number of stanzas? C. Number of lines per stanza? D. Speaker? E. Rhyme scheme? F. Examples of repetition? G. Examples of imagery? H. Examples of symbolism? V. Catalog Poem The bored looks on the students in the room And the teachers excited voice ringing through the room VI. Free verse a. As I walk outside a gush of winds blows my hair back The crisp cool air slithers between my fingers The Goosebumps rise on my body VI. Types of Poetry a. Narrative a. I. Tells a story or recounts events b. Dramatic b. I. Tells a story but focuses on character c. Lyric c. I. Present the thoughts and feelings of a single speaker VIII. Form and Structure a. Written in lines b. Lines are grouped together in stanzas c. Lines and words are arranged on a page is its form X. Sound a. Rhyme, meter, and word choice are the key sound devices b. Rhyme is the repetition of sounds at the ends of words b. I. Internal rhyme b. I. L. Use of rhyming words within a line b. Ii. End Rhyme b. Ii. L . Use of rhymes at the ends of lines X. Rhythm a. Pattern of sound created by stressed and unstressed syllables in a line of poetry b. Meter is a regular pattern of stressed and unstressed syllable c. Form can affect its rhythm X. Free Verse a. Does not contain regular patterns of rhythm or rhyme b. No fixed line lengths or stanzas XII. Imagery and Figurative Language .

The Islam Faiths Views on Life Support and Euthanasia

The Islam Faith's Views on Life Support and Euthanasia Islam teaches that the control of life and death is in Allahs hands, and cannot be manipulated by human beings. Life itself is sacred, and it is therefore forbidden to end life deliberately, either through homicide or suicide. To do so would be to reject  faith in Allahs divine decree. Allah determines  how long each person will live. The Quran says: Nor kill (or destroy) yourselves: for verily Allah hath been to you Most Merciful! (Quran 4:29) ...if any one slew a person - unless it be for murder or for spreading mischief in the land - it would be as if he slew the whole people: and if any one saved a life, it would be as if he saved the life of the whole people. (Quran 5:23) ...take not life, which Allah has  made sacred, except by way of justice and law. Thus He does command you, that you  may learn wisdom. (Quran  6:151) Medical Intervention Muslims do believe in medical treatment. In fact, many scholars consider it  mandatory in Islam to seek medical help for illness, according to two sayings of the Prophet Muhammad: Seek treatment, believers of Allah, for Allah has made a cure to every illness.   and Your body has a right over  you. Muslims are encouraged to search the natural world for remedies  and use scientific knowledge to develop new medicines.  However, when a patient has reached the terminal stage (when  treatment holds no promise of a cure) it is not required to sustain excessive life-saving remedies.   Life Support When it is clear that there is no treatment left available to cure a terminal  patient, Islam advises only the continuation of basic  care such as food and drink.  It is not considered homicide to withdraw other  treatments in order to allow the patient to die naturally. If a patient is declared brain-dead by doctors, including situations in which there is no activity in the brain stem, the patient is considered dead and no artificial  support functions need to be provided. Ceasing such care is not considered homicide if the patient is already clinically dead. Euthanasia All Islamic scholars, in all schools of Islamic jurisprudence,  regard active euthanasia as forbidden (haram). Allah determines the timing of death, and we should not seek or attempt to hasten it. Euthanasia is meant to relieve the  pain and suffering of a terminally-ill patient. But as Muslims, we are never to fall into despair about Allahs mercy and wisdom.  The Prophet Muhammad once told this story: Among the nations before you there was a man who got wounded, and growing impatient (with pain), he took a knife and cut his hand with it. The blood did not stop until he died. Allah (Exalted be He) said, My slave hastened to bring about his demise; I have forbidden Paradise to him (Bukhari and Muslim). Patience When a person is suffering from unbearable  pain, a Muslim is advised to remember that Allah tests us with pain and suffering in this life, and we must patiently persevere. The Prophet Muhammad advised us to make this dua  on such occasions: Oh Allah, make me live as long as life is better for me, and make me die if death is better for me (Bukhari and Muslim). Wishing for death simply to alleviate suffering is against the teachings of Islam, as it challenges Allahs wisdom and we must be patient with what Allah has written for us. The Quran says: ...bear with patient constancy whatever befalls you (Quran 31:17). ...those who patiently persevere will truly receive a reward without measure! (Quran  39:10). That said, Muslims are advised to comfort those who are suffering and  make use of palliative care.

Marketing plan for agricultural and extension education Assignment

Marketing plan for agricultural and extension education - Assignment Example Agricultural learning has been the key method for farmers to gain an understanding on the contemporary tools in producing agricultural commodities.Moreover,the United States legislators have created policies that will sustain and maintain the agricultural livelihood Weems and Weber (2007) implicated that the United States Congress enacted the Farm Bill every five years in order for the regulations and provisions of the bill to be in line with the current agricultural and nutritional state of the country. Consequently, this marketing plan is a proposal that endeavored on the effectiveness of Farm Bill within the United States. Hence, this marketing plan centers on ameliorating the food sustenance among all classes of American people through health education and providing suitable amount of unlimited healthy food resources (e.g., meat, milk, and fruits) with the help of national organizations such as the American Dietetic Association, Department of Agriculture and its subsidiary agenci es. II. The Marketing Competition Agricultural products refer to the cultivation and production of foods and fibers that are considered as the basic commodities for human sustenance. The importance of agricultural merchandises has raised the importance because these give the needs for both people in the present and also for the future. As a result, the agricultural competition around the world is also increasing in order to generate products exportation and importation for the sustainability of country’s economic development. ... Hence, this marketing plan introduces a list of alimentary products that are important in the human body, and these are bread, grains, rice, fruits and vegetables, milk and dairy products, meat and fish, and also pasta. Accordingly, the prices of these products should be able to allow low income American people to purchase and enjoy a healthy living with healthy food and lifestyle (Morris, Neuhauser, & Campbell, 1992; Stewart & Blisard, 2006). IV. The Distribution Channel Agricultural products should be distributed equally to the American population with a reasonable amount of price. These agricultural commodities should be freshly available among all American people through retail outlets, marketplace, and also directly to agricultural farmers. Moreover, these agricultural products should also be available to government agencies in order to distribute to those low-income American people (Weber & Becker, 2006). V. The Development and Maintenance Agricultural farming and livelihood sh ould be the top priority for development and maintenance in order to cultivate efficiently healthy agricultural products. Moreover, the knowledge and understanding of health foods should also be developed among American public, so they have the idea of the kinds of nutritious foods in order to avoid any health problems (Stewart & Blisard, 2006; Weber & Becker, 2006). VI. The Marketing Strategies Accordingly, media information and non-government organizations can be a useful aid for disseminating to the people the important knowledge and information with regard to having proper and healthy food intake. Hence, agricultural education can be one of the important factors in expanding the agricultural knowledge to the people.

Data Analysis for a business making Essay Example | Topics and Well Written Essays - 1000 words

Data Analysis for a business making - Essay Example c. The model will be solved through the help of the objective function applied, in which the decisions variables will be used in terms of controlling the operations and also avoiding the constraints to get the maximized productivity. d. One of the main constraints in the functional operations was limiting the machine’s productivity due to the depreciation. Another main constraint was time management. The constraint that was not problematic was the labor issue, i.e. they worked properly. e. The reduction in the profit means either the low pricing or the higher material or labor costs. The value of the objective function will change because of the productivity concerns. Because as the material cost has increased, so a limitation will be applied on the working of the machine and the lesser productivity will be the case. f. The value of additional value of additional minute of time per week for the devices numbered 1 to 4 will be respectively as follows: 600, 390, 330, and 204. Th e company must add more test device time on 4th and 3rd device as they have experienced to be consuming lesser time. g. The management of the company should make the corrective measures in terms of the cost reduction techniques and profit maximizing mechanisms. The officials must hire firstly the trained engineers who must know everything about the functions of the machines and how the constraints can be avoided. The company needs maximum productivity and for that it is imperative to train the engineers or flour managers so that they already know what types of constraints can be there and must avoid them to keep the productivity maximized. Also the management must also make sure that the decision variables are only those that can really be controlled and they should be working for the interest of the company for taking the profits to maximized level, and also keeping the costs to the minimum level as that will be the key for the maximum profits. The company must also make sure that the objective functions are properly executed as they will be the important indicators for the success of the maximum productivity. Task 2: a. Mathematical expression for the linear programming function can be written as: Â   The constraints are as follows: These constraints actually mean that the productivity will be low if the resources are not applied efficiently, and the one reason might be the inefficiency of the labor. b. The optimal solution will require the client to follow a specific diet each day which will maximize the chances and objectives which he intends to achieve. The chocolate of 50 grams and sugar of 100 grams might be the best diet for him through which he can meet his aims. This will also incur him the minimum cost, as his problem is more intense but it’s the job of his doctor to suggest the prescriptions that can cost him less but offer him more. c. The creation of the objective function required the programming for which the matlab and java are best pr ograms. The data can be included there along with some calculations and programming. d. Yes, the resources are fully utilized and the materials before being utilized were in stable form and that is why the product quality will also be fine. The only source that was not utilized properly was related to the labor. The management experience of lesser labor doing more work that cannot be handled by them might be the one problem that caused the lack of the productivity that was

Why energy drinks should be banned Essay Example for Free

Why energy drinks should be banned Essay The topic of energy drinks being allowed for kids is a huge debate. Energy drinks are said to help give you energy for you long days, but are very deadly at the same time. Energy drink companies say that it’s the kids faults for drinking the energy products but all in all it is there’s to begin with. They have hidden so much from us should they be allowed to hide it any more? One of the biggest dangers of energy drinks is death. There are twelve reported death reports saying that monster energy is the cause for the deaths. The companies were sued by the families of the teens who died from drinking the drinks. The companies stated that it was their kids faults for there deaths because the consumed the product in hand, but they didn’t know the ingredients in the energy drinks. Some of the publics schools in Washington sell energy drinks everyday at there schools. The energy drink companies are trying to get the advertisement out to the younger kids to wanting them to buy more and more of there products. If we pulled the energy drinks from schools and selling them there would be less teen and children deaths in the us alone then there has been over the year. Energy drink companies should label everything a lot better, because having them hide some of the ingredients isn’t something id like to let my kids use. Less people would drink them if they new what all was in the products. Most of there products have over 1,600mg of sugar in it , that’s equal to one in a half to two bags of sugar. Putting all this sugar into these drinks and having kids consume them causes the kids to become hyperactive whenever they consume the product. If these kids keep drinking these drinks they will cause them self to get diabetes, after drinking the energy drinks for a long period of time. Considering the challenge of being sued for there product the companies try and change the topics to the family. When the companies blame the family for there family members death. The energy drink companies should be responsible because they are changing up the story every time someone sues them into trouble of their product. Yes I think energy drinks help with getting energy during the day, but the drinks a re a health concern for everyone. The unknown knowledge to everyone is the only reason why they are hiding there ingredients so they wont get in trouble for there product causing peoples deaths. There product is dirty a man after drinking and energy drink found a dead rat in his can after finishing his drink, all I can say is ewe would you want that in your drinks. To close I believe every energy drink should be banned because of all the health hazard and dangers to our well being. The energy companies should be forced to not be allowed to hide anything from its buyers. Because if the didn’t hide anything not a lot of people will be putting there life’s at risk anymore with drinking them. Energy drinks are going to be a thing of the past on day I will write everyday till they are. POWERED BY TCPDF (WWW. TCPDF. ORG).

The Clash of Civilizations Essay -- Analysis, Samuel P. Huntington

Ernest Hemingway stated that, â€Å"In modern war †¦ you will die like a dog for no good reason†! Even though that is true, experts have gone further by trying to find the â€Å"roots† and explain why conflicts emerge in the first place. Two experts, Samuel P. Huntington and John R. Bowen, present two different approaches towards the cause of conflicts in 21st century. Although there is a difference between their approaches, both of them share the common believe that a conflict may occur when one puts pressure on the other; but the reason why this pressure takes place, varies among the two theories. In his article, â€Å"The Clash of Civilizations†, Huntington points out that in the 21st century, conflicts will not occur based on ideology of a state or civilization, neither on economic power; but they will take place because the differences in cultural and religious identity between civilizations. As the first key point that lies under this theory, is the Western civilization approach towards the Eastern civilization. According to him, the Western Civilization promotes their â€Å"political and economic values, maintain their predominance and protect their interest† through economic and political pressure via Western Institution such as UN and IMF. This Western approach increases the cultural division between Western and Eastern civilization, but also within Western Civilization; between Western Christianity and Orthodox Christianity. This approach can be easily understandable if we take a look at the historical events where Western and Eastern civilization confron ted each other such as in the Gulf War and Bosnian war, where Western used their power to protect countries from a same culture, same civilization. This leads to a reaction from Eastern cou... ...up and swap a part of the region, thus creating Western vs. Eastern conflicts which apparently will lead to war between two complete different ideologies. To conclude, wars have been and will be part of our lives. In some regions, people yet have lack of knowledge, therefore tend to separate people based on language, culture, religion, region and historical background. Yet we didn’t manage to overpass these obstacles that we create towards the minorities, and live in the same land together. Although some countries try to get rid of those issues and live beyond ethnicity borders, there are countries that point the figure at you and remind you that you are â€Å"you†, and because you are who you are â€Å"We hate you†! When we overpass the hate, the ethnic borders, there won’t be any conflicts, wars and articles that are trying to find the way how the conflict occurred!

Congo

A component in the development in Operation â€Å"Save the Congo' that we will focus lies in the Health infrastructure. The Democratic Republic of Congo was one of the first African countries to recognize HIV, registering cases as early as 1983. The most common method of transferring the virus occurs through homosexual activity; linking to over 87% cases in the Congo. Demographically, the ages groups most affected are women aged 20 to about 29 and men alike aged 30 to 39.Other method that contribute to the rampant spread of the virus are the large movement of refugees nd soldiers; seeing as though population movements are often associated with the exacerbation of the HIV virus as it is now localized in areas most populated by troops and in other war-displaced populations. In addition, there is the increased levels of sexual transmitted diseases among sex workers and clientele alike, due to the limited availability of condoms in the country.All in all, without the relief of Operation â€Å"Save the Congo' the continuing problem of HIV/AIDS in the Democratic Republic of Congo becomes a leading issue in a country already suffering from other health issues. Along with the spread of the HIV virus, the impact that malaria has on the Democratic Republic of Congo is profound, and this is due to the expansion by insects and the fact that malaria is the primary cause of mortality among pregnant women and young children. On average, there are five million cases of malaria every year in the Congo and around 500,000 to one million people die of this disease every year.In addition, 97% of the countrys 70 million inhabitants live in areas where malaria is deeply concentrated, subjecting most of inhabitants with the vicious disease. Mosquitoes are the primary carriers of malaria, and due to the fact that Congo is located close to the equator, one can assume that the high number of mosquito presence is chiefly due to the humid climate of the country. Along with the expansion of the malaria disease, there are its impacts on pregnant women and children. Of the people that die from malaria, 91% of those inhabitants are ones that are pregnant women or children under the age of five.Children bear the majority of the burden of both the morbidity and mortality, as they are at greater risk of catching he disease and dying as well. Out of the 5 million reported cases of malaria, around 2. 3 million cases of children under five with malaria were reported; with around 25,000 of the 2. 3 million dying from malaria- related diseases. Another section of the health infrastructure we would like to focus on in our relief plan lies in the topic of maternal and child health care.In other words, aside from the malaria epidemic there are other health factors needed to be taken into consideration when discussing maternal and child health care. Due to the lack of resources in the Congo, women nd their children have continuous struggles in sustaining their resources, and thus, taking proper care of their children. The lack of clean water and liveable homes attribute to the dismal health of women and their families, and this only makes them more susceptible to the rampant diseases described previously.According to the United Nations Population Fund released in June 2011, maternal mortality rate for the Democratic Republic of the Congo per 100,000 is 670 deaths. Meaning, that for every 100,000 childbearing woman in the Congo, there are 670 infant deaths. Compared of ther developing countries, that ranks in the top percentile as tar as maternal mortality rates, and that fgure alone only begins to outline the profound impact the weak health infrastructure and the lasting impacts it has on women and children in the country.Despite the daily turmoil men, women and children face everyday in the Democratic Republic of Congo, there is hope. With the implementation of Operation: Save The Congo, we can finally provide the needed relief efforts that was never before applied to the country. Similar to the New Deal used in the United States uring the Great Depression, these programs are meant to relief and reform the Congo into a livable society, and get it to a point where it may function and prosper on its own.In order to achieve this landmark reform in the health sector, Operation: Save the Congo will first build new hospitals. The lack of stable, sanitary hospitals is an on-going problem that continues in the Congo, but with the relief that Operation STC provides, funding will go into building hospitals, helping solve the problems of HIV/AIDS and malaria. In addition, new hospitals will help decrease the maternal ortality rates, as we will provide new technologies needed to prevent disease and malnutrition.Moreover, we want to do a â€Å"reverse brain-drain† method in which we partner will developed countries and send highly skilled doctors, physicians, and nurses over to the Congo to work in these hospitals and provide expert health care. A big part of the new health infrastructure will be the development of a new filtration system to produce clean water not only for newly built hospitals, but for the country in total. This project will be the top priority in guiding the Congo into a new era in ealth technology, as the production of clean water will diminish mortality rates, and it will also help prevent other diseases.Lastly there is the building of living shelters across the country, providing imported foods and goods from developed countries in an effort to sustain lives. This will give the necessary shelter women, men and children need in order to live their lives fully. Bringing in imported foods and goods would also contribute to the decline of diseases, as it gives its inhabitants the proper nutrients from the foods and the quality living standards from the newly imported goods. All in all, these are the problems that persists in the health sector of the Democratic Republic of Congo.HIV/AID, malaria, lac k of resources are all continuous strains on this developing country and its people are fading fast. The programs that were Just highlighted will save the congo, as it will provide newly built facilities including hospital and living shelters with trained practitioners and a new clean water filtration system. With these programs set in place, the health infrastructure in the Democratic Republic of Congo will be on course on becoming a great leader for health in the world.

Managerial Accounting 222

Managerial Accounting 222 Week 1 Questions 1-1 How does managerial accounting differ from financial accounting? Managerial accounting and financial accounting differs in who the reporting is for and for what purpose. Managerial accounting is for company managers to use to plan, control, and make decisions regarding specific strategies. Financial accounting is prepared for owners, stakeholders, creditors, and government authorities and is used to verify information regarding the economic stability of a company. There are also specific guidelines that are used (GAAP) in financial accounting and is mandatory whereas there are no guidelines in managerial accounting and is not mandatory. 1-4Why do companies prepare budgets? Preparing budgets gives a company a quantitative plan that will be used to complete a project or strategy. A budget is a guideline for which resources are used and can be compared for performance reports when determining the effectiveness and profitability of a strategy. 1-13Why do companies that implement Lean Production tend to have minimal inventories? Companies that implement Lean Production have minimal inventories because they usually implement a just-in-time production strategy where production is only triggered by customer demand. Therefore, the amount of inventory is usually close or equal to customer orders creating minimal, if any, leftover inventory. 8-2Discuss some of the major benefits to be gained from budgeting. Budgets are beneficial because they can show the organization what strategies management is using to accomplish their business goals. They provide direction for employees to accomplish job duties towards the final result and allows them to understand which strategy is more important through the amount of resources that is allocated towards it. Budgets also ensure that the entire organization is working towards the same goal and provides a starting point for performance evaluations. 8-5Why is the sales forecast the starting point in budgeting? Sales forecasting is the first step in determining the required needs for future production. In order to create a budget that includes all costs related to producing a product for sale, management must determine how many units are forecasted to sell so that an adequate amount of product is produced to meet demand without excessive costs. 8-9How can budgeting assist a company in planning its workforce staffing levels? When a budget is created, the amount of work and units to be produced is also calculated. With this information, a company can plan for its labor workforce without having unexpected labor overages or shortages at any given time.

Alfred Wegeners theory of continental drift

Alfred Wegeners theory of continental drift In spite of the fact that similarities of the continents’ coastlines are noticed by researchers during the centuries, thehypothesis that these continents could previously form the supercontinent seemed to be rather ridiculous.Advertising We will write a custom assessment sample on Alfred Wegener’s theory of continental drift specifically for you for only $16.05 $11/page Learn More During the early part of the 20th century, Alfred Wegener, the German scientist, published the book in which he attempted to prove the theory of the continental drift which provided the basics for explaining the formation of different continents (Oberrecht, 2013). Although Wegener provided a lot of evidences based on the discussion of continental fits and results of investigations in paleontology and paleoclimatology, the scientist failed to explain the mechanisms which made the blocks move, thus, only the development of scientific method and theory contributed to fin ding the sound evidences to support and accept the theory of continental drift in the scientific world. During the last part of the 20th century, a lot of evidences related to the physical geography were collected to support Wegener’s theory of continental drift. The contemporaries of Wegener rejected the scientist’s idea of the continental drift because it was extremely revolutionary, and the argument lacked the necessary evidences. However, the further researches in the field provided the evidences to speak about the fit of continental coastlines directly, not only with references to similarities of the South American and African continents’ coastlines, because of the possibility to analyze the fit with the help of computer technologies in the 1960s. Moreover, the similarities in the rock sequences located at different continents which were discussed by Wegener were also explored and proved with the help of modern technologies. Furthermore, during the 1950s-19 60s, the researchers received the opportunity to examine the ocean floor in detail, and as a result, to propose the detailed map of the ocean floor with the determined great ridge to prove the ideas about the role of the deep ocean trenches in the continental drift (From continental drift to plate tectonics, n.d., p. 308).Advertising Looking for assessment on geology? Let's see if we can help you! Get your first paper with 15% OFF Learn More In spite of the fact that Wegner provided a range of evidences to support the idea of the continents’ movements with references to parallelism of the coastlines, similarities in climates, fossil correlations, and different geologic similarities, scientists accepted the theory only during the second part of the 20th century because Wegner could not explain the mechanism of the continental drift. Thus, Wegner’s argument about the mobile blocks of crust seemed to be incomplete because the mechanism of this mobi lity was not identified. However, the investigations on the nature of the ocean floor, the great ridge, magnetic reversals, and the nature of earthquakes led to the development of theory of plate tectonics (Tackley, 2000, p. 2003). Modern scientists accept the theory of continental drift because it is explained with references to the mechanism known today as the movement of tectonic plates in relation to each other. The development of the theory of continental drift and associated scientific method depends on the progress of technologies to receive and analyze the empirical evidences to prove the hypotheses. The theory of continental drift was formulated by Wegner in 1915, but different researchers added to its development and investigation of the process while providing the supportive evidences. Thus, Harry Hess explored the features of the oceanic lithosphere to explain the possible movements. Hess’s investigations were supported with evidences from the seafloor geology. Du ring 1963, Vine and Matthews â€Å"put Hess’s ideas together with the magnetic reversals discovered on land and the magnetic stripes of the seafloor† (From continental drift to plate tectonics, n.d., p. 308). The theory of plate tectonics was discussed in further investigations as fundamental to explain the plates’ movements referring to the synthesis of the seafloor geology with the continental researches. The scientific method in the form of different techniques used by researchers to discuss the natural phenomena contributes to understanding the natural world because of explaining the natural processes and providing the sound evidences to demonstrate the credibility of the ideas.Advertising We will write a custom assessment sample on Alfred Wegener’s theory of continental drift specifically for you for only $16.05 $11/page Learn More To understand the natural world means to understand the processes according to which natural p henomena develop, and scientists explain these processes while proving the scientific hypotheses. Nevertheless, the real scientific knowledge can be received only with the help of experiments or proper scientific exploration (Yi Oldroyd, 1989, p. 22). The understanding of the natural phenomenon depends on the researchers’ findings received as a result of different types of theoretical and empirical investigations, as it is observed with references to examining the continental drift. The theory of continental drift became widely discussed as credible after the theory of plate tectonics provided the mechanism for it. According to the plate tectonics theory, the blocks of crust can move in relation to each other because of the impact of structural trends, deep ocean trenches, magnetism, the movements associated with the ocean ridge’s central rift (Mayhew, 2013, p. 141; Stein, 1999). Thus, the lithosphere is fragmented because of the different geological or physical proce sses, and these processes also led to the continental drift. From this perspective, the plate tectonics also explains the definite process of continental drift. Referring to the fundamentals of the crust and plates’ formation, the theory explains the processes of plates’ destruction and movements as a result of the geological processes (The theory of plate tectonics, 2013). In this case, the explanation of the continental drift is based on the same key aspects as the explanation of such processes as volcanism or seismicity (Shipley, 2003, p. 487). In addition, the plate tectonics also explains such natural landforms as the Himalayas and the Ring of Fire in the Pacific Ocean. Following the theory, rock sequences are formed at the place of the plates’ collision. Thus, the Himalayas are formed at the place of the Indo-Australian and Eurasian Plates’ collision.Advertising Looking for assessment on geology? Let's see if we can help you! Get your first paper with 15% OFF Learn More The occurrence of earthquakes and volcanoes also depends on the theory of plate tectonics and on the specifics of the plates’ location and possible collision. From this point, the Ring of Fire in the Pacific Ocean is the territory where many active volcanoes are located and where frequent earthquakes are observed. The moving plates can cause the significant earthquakes and following destructions because a lot of the energy is released (Dietz, 1983). Alfred Wegener’s theory of continental drift was discussed as ridiculous and revolutionary during the early part of the 20th century, but later it was proved because of the efforts of the scientists interested in the question. The developed theory of plate tectonics was effective to explain the mechanism of the continental drift, thus, many controversial questions were resolved with references to the developed scientific method and different approaches used by the scientists to find the answers to the problematic questions. References Dietz, R. (1983). In defense of drift. Sciences, 23(6), 22-26.     From continental drift to plate tectonics: The evidence. (n.d.). Web. Mayhew, R. (2013). Research resource review: The Continental Drift Controversy (four volumes). Progress in Physical Geography, 37(1), 140-147. Oberrecht, K. (2013). The theory of continental drift. Web. Shipley, B. (2003). Plate tectonics: An insiders history of the modern theory of the Earth. British Journal for the History of Science, 36(131), 487-488. Stein, D. (1999). The rejection of Continental Drift: Theory and method in American earth science. American Scientist, 87(5), 467-468. Tackley, P. (2000). Mantle convection and plate tectonics: Toward an integrated physical and chemical theory. Science, 288(5473), 2002-2007. The theory of plate tectonics. (2013). Web. Yi, Y., Oldroyd, D. (1989). The introduction and development of Continental Drift Theory and Plate Tectonics in China: a case study in the transference of scientific ideas from West to East. Annals of Science, 46(1), 21-34.

Future-in-the-Past Tense in English Grammar

Future-in-the-Past Tense in English Grammar In English grammar, the future-in-the-past is the use of would or was/were going to to refer to the future from the perspective of some point in the past. As illustrated below, other verbs in the past progressive can also be used to convey this future-in-the-past perspective. Also known as: Prediction in the past Examples and Observations: Matilda stretched herself out, feeling her bones getting longer and longer. In a little while she would be taller than Frances, maybe one day even taller than Elizabeth. Maybe one day she would be the tallest woman in the world and she could join a circus.She was sure that Boyne would never come back, that he had gone out of her sight as completely as if Death itself had waited that day on the threshold.He had not believed her when she said they would meet only once.Fred Ballard, a local playwright friend of my mother, told her that I should go to his alma mater, Harvard and that he would make inquiries on my behalf, which he did without success. Use of Be Going to [T]he future-in-the-past...  is used where the speaker wishes to refer to a past time at which a particular event was still in the future, even though now, at the moment of speaking, it is past. This particular combination frequently makes use of the semi-modal expression be going to since this is readily marked for the past. It is frequently used where some anticipated event does not occur or an expectation is canceled. Consider these examples: I was going to tell him, but he didnt give me a chance.I thought we were going to eat out tonight.She was going to qualify next year, but now it will take longer. Use of the Past Progressive When an arranged-future-in-the-past (or rather arranged-future-from-the-past, as it is a future relative to the time of a past arrangement) concerns a personal arrangement, we normally use the progressive form of the past tense. This parallels the use of the present progressive for arranged post-present situations. [Mary and Bill were stuffing a goose.] They were having guests that evening.[There was no point in inviting the Robinsons, as] they were leaving the day before the party.[The man was very nervous.] He was getting married that morning.[I didnt call him up to tell him the news because] I was going to his office the next day. The use of the progressive past is possible even if the context makes it clear that the action planned was not actually performed. Relative Tenses Relative tenses represent deictic tenses. . . . Thus had sung is the past-in-the-past, has sung the past-in-the-present, and will-have-sung the past-in-the-future. Similarly, would sing is the future-in-the-past, is (about) to sing the future-in-the-present, and will be (about) to sing the future-in-the-future. Coincident (relatively present) tenses are ignored by many contemporary theorists, though Lo Cascio (1982: 42) writes of the imperfect, which is considered in traditional grammar a present-in-the-past, as a past coincident tense. Sources Robert I. Binnick, Temporality and Aspectuality.  Language Typology and Language Universals: An International Handbook, ed. by Martin Haspelmath. Walter de Gruyter, 2001.Joseph L. Cacibauda,  After Laughing, Comes Crying: Sicilian Immigrants on Louisiana Plantations. Legas, 2009.Renaat Declerck, Susan Reed, and Bert Cappelle,  The Grammar of the English Tense System: A Comprehensive Analysis. Walter de Gruyter, 2006Ursula Dubosarsky,  The Red Shoe. Roaring Book Press, 2006.Martin J.  Endley,  Linguistic Perspectives on English Grammar. Information Age, 2010Ted Sorensen,  Counselor: A Life at the Edge of History. Harper, 2008.Edith Wharton, Afterward, 1910.

Choose a multinational company,and Selecting one new market and one Essay - 1

Choose a multinational company,and Selecting one new market and one product, detail and justify a marketing plan for the launch of this product into this, hither too, new market segment - Essay Example In 2012, Sony reported a net loss of 67.3 billion yen (Hirai 2012). In 2011, Sony reported a loss of 199.8 billion yen, indicating a significant problem attaining revenue growth which is attributable to increased competition in the electronics industry and changing consumer preferences throughout the globe. Sony, to combat these significant financial losses, is to launch the new Sony HMZ-T1 Personal 3D Viewer, a head-mounted display device allowing consumers to enjoy three-dimensional video content that is akin to the three dimensional movie theatre experiences. This product, already accepted as a revolutionary product in a variety of international markets, fits snugly and comfortably around the users’ brow, offering an unparalleled, horizontal viewing range of 45 degrees. The device offers supplementary high-quality Surround Sound capabilities to enhance viewing experience. The objective of this new launch is to recapture revenue losses, disrupt the personal electronics market, and improve Sony’s brand image in the new Serbian market, a developing nation that can provide new profit opportunities for Sony. Serbia scores low on Geert Hofstede’s Cultural Dimensions Framework in masculinity, a cultural propensity to value achievement and personal success as primary lifestyle-centric drivers (Hofstede Centre 2012; Hofstede and Hofstede 2005). This makes Serbia a feminine society, one where citizens seek solidarity, consensus, and a cultural set of values about promoting equality for all peoples. These values are inherent in the luxury buyer segment, which is representative of upper- and middle-class consumers. Serbia maintains cultural characteristics that have many collectivist values, in which loss of face (reputational) is a significant consideration from a social perspective (Cheung et al. 2008). This collectivist mentality

Determining How Costs Behave Research Paper Example | Topics and Well Written Essays - 500 words

Determining How Costs Behave - Research Paper Example The purpose of this assignment is to study the behavior of fixed, variable and total cost at different level of business activities. The behavior of cost is related to the level of business activity (â€Å"Identifying Cost Behavior†, n.d.). It implies that a change in business activity exerts influence on the parameters of the above equation. This reaction of it is called cost behavior. Some costs may stay same, and others may change proportionally in response to a change in business activity. That is why; for managers of a company, it is necessary to understand how a cost reacts to a change in the business activity. This knowledge helps managers to determine future profit from a new product, prepare a forecast and create a budget (Horngren, Sunden, Schatzberg, & Burgstahler, 2012). From the perspective of cost behavior, there are three type of costs: fixed, variable, and mixed. Fixed are those costs that do not change due to the change of level of activity. However, fixed cost, if expressed per unit basis, varies inversely due to the change of level of activity (Caplan). Some of the examples of fixed costs are salaries, rent, and property taxes. Variable are those costs that change due to the change of level of activity. It is constant per unit. In linear equation, variable costs vary linearly with the change of level of activity. Variable costs, by definition, are considered as cost drivers (Horngren, Sunden, Schatzberg, & Burgstahler, 2012). Cost drivers also demonstrate cause and effect relationship between the level of an activity and costs related to that activity (â€Å"Types of Cost Behavior†, n.d.). Some of the examples of variable costs are direct material, direct labor, and sales commission. Mixed are those costs that have both fixed and varia ble components. The discussion above can be expressed as Total cost = Total fixed cost + Total variable cost. From this equation, we can

SWFRSs Resource Management Case Study Example | Topics and Well Written Essays - 2500 words - 1

SWFRSs Resource Management - Case Study Example It is evidently clear from the discussion that SWFRS has numerous resources including financial resources, operational resources, human resources, equipment and appliances, extinguishing media and communications resources. SWFRS came to the realization that human resource is the most important resource that an organization can ever have; an organization cannot succeed without effective management of its human resource. The service has always strived to create a strong corporate culture. SWFRS has been creating a strong corporate culture by encouraging co-operation and integration across the service and establishing quantitative performance measurements. Much of SWFRS’s procurement process is computerized. This is in line with its policy of making its operations more efficient and effective. This has helped in ensuring the effective management of its resources. The service strives to ensure continuous improvement of its operations in line with its objectives. To achieve this, t he service has strengthened and reinforced its evaluation function. Implementing these policies have helped in ensuring that the service conforms to international standards. SWFRS has contributed greatly to the efficiency effectiveness in fighting the fire and saving a life. This can be attributed to its integration of information and communications technology into its operations. SWF's management of its resources has also been very efficient at all levels (South Wales Website, 2009).  The South Wales Fire and Rescue Service, SWFRS, was established by the Wales Local Government Act (1994) in 1996, with the aim of reforming the Welsh local government (South Wales Website, 2009). SWFRS was created by merging previous fire brigades such as Gwent, South Glamorgan, and Mid Glamorgan. It covers about 3,000 square kilometers and about 1.5 million people. The fire authority running this service is a board comprising councilors from ten key areas covered by this service. SWFRS, being one o f the UK’s biggest fire services, employs about 1,600 fire-fighters in over fifty stations.

Problems And Prospects Of Venture Capital

Problems And Prospects Of Venture Capital Venture capital is a type of private equity which provides funding for businesses which are newly started with high potential growth. Venture capital is very important to countries; this is because it creates job opportunities, advance technology, which in turn increases economic growth of the country. (Mason, C. Pierrakis, Y. 2009) What distinguishes between venture capital and private equity is that private equity is usually involved in investing in large company where as venture capital invest in small start up companies. These small and young businesses generally have high level of uncertainty, thus making them more risky. In additional, these businesses generally dont have many tangible assets making it extremely difficult for them to secure bank loans, therefore making venture capital a very good option for them. VC firms are not interested in companies that are trying to create a market, or companies that are in a mature market, instead they look for markets that have a large number of potential users. (Mason, C. Pierrakis, Y. 2009) A typical venture capital investment usually lasts from 3 to 7 years, and the standard sequences of venture capital investment are the following: The founder of an idea or product will try and persuade the venture capital firm that their idea/ product is sensible and profitable. If the venture capital firm is happy with the founders proposal, it will provide funding for the founder to set-up; this includes management team, development of a fully functional prototype, marketing research. In return the VC firm will get an equity stake of the invested company. Once the setting-up is finished, the VC firm will provide funding and support on promoting and selling the product. If the product is successful, reaching the targeted market shares, the VC firm will exit cashing in its investment. (The Smart Set-Up 2008) The first VC firm was found in 1946 by MIT President Karl Compton and General Georges F. Doriot named American Research and Development (ARD) which was structured as a close ended fund. ARD was extremely successful since it turned an investment of $70,000 in Digital Equipment Corporation to a value of $355 million after the companys initial public offering. A number of VC firms which was structured as close ended fund was established after ARD, but it wasnt until 1958 the first VC limited partnership was established by Draper, Gaither and Anderson. Limited partnership became more common in the 1960s and 1970s; however the majority of VC firms are still structured as close ended fund. (Gompers, P. Lerner, J. 2001) Today, Venture Capital has been affected by the recession. Not as much money is being invested as 5 years ago during the height of the technology bubble. Currently Venture Capitalists are decreasing there overall amounts invested but are moving towards allocating more to later-stage investments. Currently there are fewer young entrepreneurs with great new ideas who are willing to risk building and sustaining a business. However this downturn is not expected to continue forever and it is China that will lead the way as the new most exciting venture market with 1.3 billion potential consumers. Yet, it is not only China who will rise from this downturn, UK along with other traditionally strong venture markets will re-emerge, but the question remains whether or not it will attract as much venture capital as it once demanded. Although China is set to become the biggest venture capital market, it can without a doubt learn an awful lot from past experiences of the UK market to assist its de velopment. (Deloitte. 2009) UK Venture Capital Industry Overview Introduction: importance of the UK venture capital industry Although the private equity industry in the UK founded its roots back in 1940s, it started to take off and grow rapidly from the mid 1980s, and now is second only in importance globally to the USA. In Europe the UK private equity market is regarded as the most mature (Tannon et al. 2005 cited in Soderblom 2005). 40% of the European PE industry is shared by the UK funds. As of % of GDP, the UK is the most significant private equity investor in Europe at a level of 1.10% (Figure 1), but out of this only 0.21% goes into venture capital financing while the rest is invested in the buyout sector (EVCA, 2005b cited in Soderblom 2005). It is important to note that in Europe the terms venture capital and private equity or risk capital are often used interchangeably, as European private equity funds typically include three main sub-categories: venture capital for start-up businesses and early stage companies; later stage expansion capital; and management buy-outs and management buy-ins. This t erminology differs from the one in the US, where private equity funds are considered as separate institutions from those managing venture funds (European commission 2006). That is why in UK venture capital is regarded as an integral part of private equity, but as the riskier part of the whole portfolio of PE funds. The UK VC Industry has been always compared to the US VC Industry in its performance and main development drivers. However, Richard, chairman of Library House (2007), argued that instead of benchmarking each European country against the whole US, it is more reasonable to explore the difference in VC performance between separate states, and then compare them with countries in Europe. Thus, Library House has produced a league table, which put the UK a third in this ranking in 2006 with 515 minority stakes worth à ¢Ã¢â‚¬Å¡Ã‚ ¬1.78bn. California was first with 1,367 deals worth à ¢Ã¢â‚¬Å¡Ã‚ ¬9.1bn, followed by Massachusetts with 338 deals worth à ¢Ã¢â‚¬Å¡Ã‚ ¬2.1bn. Development of Venture Capital Industry in UK and recent trends VC Industry in the UK started from 1945, when Industrial and Commercial Financial Corporation (ICFC) was created (Clarysse et.al. 2009) to provide capital to growing independent businesses, which later became a global private equity firm, with à ¢Ã¢â‚¬Å¡Ã‚ ¬8bn of assets under management (3i 2009). However, in 1970s availability of experienced VC managers proved to play an important role in taking-off the industry and developing it to the most successful in Europe. From early times of the development, the UK VCs were concentrated on leveraged buyouts and expansion type deals, as start-up opportunities were weak and not promising (Clarysse et.al. 2009). This is still the case in a current VC industry in UK making investments in established companies traditionally more attractive. Nevertheless, the UK VC Industry has shown a radical increase from  £26m invested in 1983 to  £1,048 in 2008. High-technology companies made more than 50% of those investments (Clarysse et.al. 2009). Over the last decade, the UK has been maintaining the average level of VC investment in early stage development of new ventures between 20% and 30% of total VC (BVCA 2009). VC Industry in recession Business XL (2009) reports that investments in ventures have decreased since 2006: 2 billion compared to estimated 750 million in this year. This suggests that venture capital industry was affected by the financial crisis. In the face of the recession that has challenged their existing portfolio companies, VCs are trying to secure more money to support those companies. Thus, most of the emerging opportunities are passing by without being considered by venture capitalists. Even though lower valuations of ventures seem to be a good deal for opportunistic VCs, according to Deloitte Research (2009), global trends indicate that large VC firms ($ 500million or more) have cut their investments more than small investment firms ($99 million or less). As the figure shows after the â€Å"dot-com† bubble in early 2000s the value of VC investments was falling gradually. But then, according to BVCA (cited by Mason et al. 2009) private equity and venture capital investments tripled in value between 2003 and 2007 from  £4bn to almost  £12bn. However, the value of investments fell by 28% in 2008 as the financial crisis took place. These trends indicate thatinvestment activities in Venture Capital Industry are very cyclical and fairly dependent on the general state of the economy. Source: BVCA Report on Investment Activity (various years) Importance of VC industry for growth of the UK economy According to BVCA (2009), companies backed by venture capital are more efficient and grow faster: VC-backed firms compared to those that do not receive venture capital backing are more innovative and produce more patents (Kortum et al. 2000), they develop and launch their products to the market faster (Hellmann et al. 2000), and have faster managerial professionalization (Bruton et al. 2005). In the UK during the time 2002-2007, the annual growth in number of people employed in VC-backed companies was 6%, sales growth was 12% annually, and exports were 14% annually (BVCA, 2009). Research undertaken by IE Consulting (2008) implies that venture capital funding plays a crucial role in making the whole UK economy more productive and competitive. VCs provide seed capital for new businesses helping them to develop the new high-tech products, market them, and to grow further to set-up their manufacturing and sales operations. Even though VCs contribution to growth of national economy is indirect, through funding new venture companies, this role is indeed the cornerstone of increasing innovation activities and development of advanced high-technology based firms in the country. The survey among 1013 VC-backed businesses (IE Consulting 2008) in UK identified that 86% of respondents have grown their businesses â€Å"organically† since receiving venture capital funding. 91% of the surveyed venture companies confirm that â€Å"venture capital was responsible for the existence/survival of their businesses and allowed them to grow more rapidly† (IE Consulting 2008). Moreover, there are also tax implications from the growth of VC-backed firms: public revenues increase as a result of growth in sales of those firms, and consequently more taxes are received by the government (including not only corporate taxes, but some other taxes resulting from growing venture firms operations). All these facts underlie the positive impact of venture capital industry on the overall economically important factors of the country such as job creation, growth of small and medium-sized businesses, investments in innovation and high-technology firms. Problems of Venture Capital industry in the UK Although UK is considered to be a world leader in Private Equity and Venture capital sector, second only to the US (IE Consulting 2008), still there are problems to be resolved as there are concerns that UK lags behind in the growing of ‘new high-tech based economy and innovation activities. The figure below taken from the report by Think Play Do Group (2009) prepared for BVCA, comparing VC industry development to US and Israel, the world-leaders in VC, shows that VC investments in the UK as a % of GDP are much lower than those in the US and Israel (Figure 3). This confirms the concerns that underinvestment in VC industry should be resolved and underlying problems identified and treated appropriately. Supply and Demand drivers for Venture Capital in the UK Since Venture Capital is so important for the economic development of the country, it is necessary to gain insight into how VC Industry is driven by supply and demand determinants. Moreover, the problems in the development of this industry can be identified through the closer look into both sides of it. Main demand side determinants of VC performance in the UK The demand for venture capital is drawn by the quantity and quality of innovative companies looking for funding and that are able to produce particular rates of return on those investments (Clarysse et.al. 2009). So, first of all, demand for VC is highly driven by early-stage entrepreneurial activities in the country. According to GEM Global report (2008), which explores the relationship between entrepreneurship and economic development, and particularly investigates â€Å"Entrepreneurial Attitudes, Activities and Aspirations† across 43 countries worldwide, in the UK 41% of adult population agreed that there are good opportunities to start a business in the next half of the year, and 52% considered entrepreneurship as a desirable career choice. However, only 5% expected to start a business in the next three years. All of these resulted in a very low rate of entrepreneurial activity, especially at the early stage which is just 5.9% of the whole population. Compared to the US (10.8%), this entrepreneurial activity is quite low, and might be a result of high percentage of respondents (38%), who believe that fear of failure would prevent starting a business. Clarysse et.al. (2009) explain that with bankruptcy laws that are more entrepreneur-friendly in the US compared to the UK, where there is high correlation between company and personal bankruptcies. One of the most important factors affecting the demand of VC is a stock of knowledge, which can be gathered through universities or national laboratories. Strong RD culture and easier spin-outs from those universities proved to have very positive effect on formation of new companies. It is also commonly considered that due to the lack of a culture of commercialising research in most of the European Universities (including the UK), these conditions are less effective in facilitating the commercialization of business ideas compared to countries where universities are normally private and dependent on commercialising research in order to increase revenues. Thus, indications of technological opportunities, such as growth rate of RD investments, availability of patents and access to university spin-outs seem to have a great impact on the demand for venture capital funding mainly through increasing number of new start-up firms exploiting those available opportunities. Statistical data (Worldbank 2008) indicate that between 1996 and 2006 RD expenditure in the UK as a percentage of GDP was stable between 1.5% and 2%. Fairly low capital gains taxes in the UK have had favourable effect on demand for VC in the UK, as it makes more people willing to start their own company. CGT rate has been reduced since 1988 from 40% to 10% for higher-rate tax payers for long-term investments. Though in 2008 this rate increased again from 10% to 18% in 2008, it is still low enough to encourage new business start-ups. (Clarysse et.al. 2009) According to statistical analysis conducted by Clarysse et.al. (2009) entrepreneurial activity is an important determinant of VC investments in the UK, so in order to enhance VC activities in thecountry policy makers should work on increasing entrepreneurial activity. Main Supply side determinants of VC performance in the UK There are different factors identifying the level of supply of VC, such as the situation on the exit markets, regulation policies, the fiscal environment and wider economic situation. The main problem is that the amount invested in early stage company is still low in the UK. The investors in the country are more interested in established businesses rather than in new innovative small companies, which is evidenced by the dominating buyout sector. According to Martin et al. (2003) and EVCA (2005) cited by Soderblom (2006), over 70% of all private equity goes into buyouts. For the last few years the early stage investments have substantially decreased in the UK, where VC allocations to seed and start-up phases account for only around 5% out of total PE investments (EVCA, 2005b cited by Soderblom 2006 ). Even with the fact that between the early 1990s and 2001 the volume of investments in high-technology companies in the UK increased tenfold (Martin et al., 2003) the VC investments in high- tech firms as a percentage of GDP was only 0.21% in 2005 (EVCA, 2005b cited by Soderblom 2006). The Figure 4 below illustrates these trends during the last decade. These low investments in early stage firms can be explained by the notion of â€Å"short terminism† which is the prevalent attitude towards returns on investments in the Capital market in the UK (Oakey 1995). It is evident that new high-tech based firms (NTBFs) have had a bad reputation among investors for being unreliable due to their inability to meet â€Å"fast return† demand and other â€Å"milestones† predicted in their business plans (Oakey 1995). Even more recent studies (Lockett et al. 2001) on â€Å"whether or not the UK VC industry has become less biased against investment in new technology-based firms† conclude that, although, investment in new high-tech based firms have increased by 2000s, the investors do not appear to be lowering their target rates of return for technology-based investments compared to non-technology-based investments at the same stage. So, even with higher acceptance rates for NTBFs, technology still proves to be a more important risk factor than stage of investment. Especially, the survey by Lockett et al. (2001) indicates that venture capitalists believe that many of NTBF proposals continue to be riskier than non-technology projects due to issues in management quality, intellectual property protection and potential market size. So there comes the problem of equity gap for the NTBFs. These firms are unable to get investments from either business angels or venture capitalists. The reason is that the small private Investors have limited financial resources and generally invest relatively small amounts of equity that is not enough for the new ventures and at the same time venture capitalists invest in bigger projects and the minimum sum they provide is higher than that the company asks for. According to the 2004 Bridging the Finance Gap report, the equity gap affects businesses seeking to raise between approximately  £250,000 and  £2 million of equity finance, and that this gap is most severe for sub- £1 million investments and for innovative businesses at an early stage of their development. Exit strategy for investor. On the supply side, stock market activity and the availability of trade sale opportunities were found to be important elements. VCs think in milestones but dream of exits. Visible exits such as stock market introductions are important for VCs to raise funds. It does not really matter whether these companies are introduced on local or international public markets as long as the stock market is liquid.(source) Ideally, investments are realised through an IPO, an industrial trade sale, or a secondary sale (Sà ¶derblom 2006). However, deep and liquid stock markets and favourable conditions to realize trade sales tend to be the most important factors for VC industry to flourish. Bringing a company to IPO indicates the quality of the VC and is important for investors in considering subsequent funding rounds, even though IPOs only account for less than 5% of total exits. A secondary market in for stock exchanges in the UK was created with AIM (Alternative Investment Market founded in 1995, and has grown significantly, from having a capitalisation of  £82.2 million in 1995 to nearly  £40 billion at the time in 2008. Furthermore, the London Stock Exchange launched techMARK to help promote existing quoted technology stocks and attract new ones to the exchange. However, according to BVCA there is a slow development of early stage VC in Britain and the whole Europe because of the absence of a f unctioning pan-European stock exchange for early stage ventures. The problem is that the European second-tier markets are fragmented (as several second-tier markets were launched) which resulted in limited capitalisation and liquidity of individual markets. Thus, reforms in capital market regulations may be needed to allow the creation of a single stock market for growth companies (including the UK markets) promoting economies of scale (Clarysse et.al. 2009). The sizes of public funds in the UK have not enabled the industry to reach a sufficient critical mass and the limited availability of follow-on financing has resulted in a â€Å"second equity gap†. To address this, the government could cornerstone an investment into a fund-of-funds that would attract private capital from institutional investors which would invest in venture capital funds able to demonstrate a track record of strong performance. (source) The Importance of balance between private sector and public sector investors in VC industry Since the early development of venture capital industry till late 1990s venture funds were primarily publicly-funded and supported by Business Expansion Scheme, which was replaced in 1994 by the Enterprise Investment Scheme (Mason et al. 2009). At the beginning of 20th century Many of these funds became ‘hybrids, involving a combination of public money and private investors, with incentives which enhance the risk-reward profile to attract private investors. Although free-standing private sector investments increased in numerical terms from 2002 until 2006, they have declined as a proportion of total investment activity from 81% in 2001 to 56% in 2008. In the UK the increased involvement of the public sector is even more apparent in the early stage venture capital market (Mason et al. 2009) accounting for the majority of such investments. In 2001 public sector funds were involved in 36% of investments. By 2003, as the various funds established by the Labour Government came on st ream, this had risen to 51% and by 2008 accounted for 68% of all investments. The proportion of public sector investments in the form of co-investment schemes has grown from 28% in 2001 to peak at 56% in 2007, falling back to 45% in 2008. (source) Nonetheless, emerging evidence from a NESTA/BVCA study (Nightingale et al, 2009 cited by Mason et al. 2009) indicates that companies that have received funding from public sector venture capital funds have not performed significantly better than those firms that did not receive funding from such sources. One interpretation is that public sector venture capital funds may not be able to add value to the companies they manage, because there is a â€Å"necessity to attract, reward and hold together experienced and committed venture capital executives to manage public funds.† In other words, the individuals running public sector funds are highly rewarded and incentivised to make the best possible returns. On the other hand, public sector venture capital funds may not be able to attract capable investment managers, and consequently they are unable to make good investments (quality of deal flow, domain knowledge, effectiveness of their due diligence). Thus, dominating position of pub licly funded VC funds especially in economically lagging regions resulted in inefficient performance of regionally based funds in the Midlands and north of England, along with Scotland, Wales and Northern Ireland due to lack of entrepreneurial eco-system and necessary networks with expert VC managers and external investors, and this in turn resulted in the VC industry in UK being concentrated and limited in traditionally active centres as London and Cambridge. Analysis Such a market would have two crucial benefits; first, it would greatly improve the ability VC-backed companies to raise large sums of capital required for global expansion and secondly, it would help to increase the average valuations of MA transactions. Further research should be conducted to fill the gaps and update the existing literature on the feasibility of a Pan-European stock exchange. A briefly description of development of VC industry in China How it originated and developed? Chinas venture capital business started from the middle of 1980s. For about twenty five years development, Chinas venture capital has made a great improvement, especially in the recent four or five years. However, there are still a lot of difficulties and problems facing China venture capital. For example, lack of appropriate regulations and policies, inflexible venture capital investment mechanism, lack of diversity of funding sources or lack of effective exit mechanism and so on. In 1983, the State Science Technology Commission (SSTC) (now the Ministry of Science Technology or MOST) set up a Research Group of Countermeasures to the Influence of the New Technology Revolution in order to carefully study the international technology situation. (This was the first time for China to truly face the implications that were taking place in the development of the global economy. After that from 1985 to 1995, the Central Government and some local governments financed and set-up investment institutions that intended to pursue the venture capital business. (Jack C. Fensterstock, Aimin Li 2001) In the year 1999, lots of government funding were lost, because of not deeply and really understand VC. After that both government and private started to change, for example, make some polices and gave better conditions for those who is good at VC. Since 2006, VC is on its boom in china, with the government supplying majority of it, however the amount of both private funding and the funding from abroad has developed significantly, More, VC in china is paying more and more attentions on new technologies. (Jack C. Fensterstock, Aimin Li 2001) Policy support in China Venture capital as a risk investment, it is highly risky but also highly profitable. More integrated laws or regulations are needed for Chinas venture capital development. In China, to protect and regulate the VC markets, Chinese government had made some National laws and some local laws duo to its own background. (As the graph shows below) In China, there are several different business activities of Venture capital. However, it is not permitted for VC enterprises to invest in guarantee services or real property business activities. Venture capital investment business; Venture capital investment business carried out on behalf of other organizations such as VC enterprises or individuals; Venture capital investment consulting business; Venture capital investment management services provided to VC enterprises; Participations in VC enterprises and venture capital management consultancies. (China: Venture Capital Regulations Published January 6, 2006 Hong Kong) With the development of policy, technological and understanding of VC, both organizational and institutional elements in China are becoming more and more complex. The system that has emerged so far is highly complex in terms of variety and number of organizational actors. Although the result has been dramatic, the series of changes are best seen as evolutionary and primarily driven by Chinas larger objective of national technological and economic development. As such, key changes in Chinas science and technology policy and business system structure during the transition era can be linked to the emergence and nature of Chinas venture capital industry. In this context, venture capital is simultaneously an extension of prior policy trajectories, as well as a potential answer to problems that other policy initiatives have not been able to solve. Balance between private and public For the venture capital industry in China, unlike other countries, it has been promoted not as a means to private gain; it is a critical mechanism to connect among scientific, technological capabilities and output. one hand, with national and regional economic and social development on the other which includes the total set of related actors and institutions, has undergone a dramatic transformation over the last two decades. The source for fund is very single, most of them are from government, or mixed by both private and government. Also, for Chinese government, it is always believed that both science and technology are the most significant parts of its search for economic development. (Steven WHITE, 2008) Most venture capital funds have a fixed life of 10 years, with the possibility of a few years of extensions to allow for private companies still seeking liquidity. The source for fund is very single, most of them are from government, or fixed by both private and government, and government takes the risky, compared with others, this kinds of fund do not want to take high risk investment. The national and local governments may establish venture capital investment guidance funds. The funds are to support the establishment and development of VC enterprises by taking equity participations and providing financial guarantees, etc. The state shall use beneficial tax policies to support the development of VC enterprises and to encourage them to invest in small and medium size enterprises, in particular in the high tech sector. The foregoing preferential policies shall be set forth in regulations to be drafted by the relevant authorities. Exit mechanism of Venture capital in China Chinas venture capital business started from the middle of 1980s (2). For about twenty five years development, Chinas venture capital has made a great improvement, especially in the recent years. Yet there are still a lot of difficulties and problems facing China venture capital. Compare to developed countries, China venture capital still lagging far behind. Exit mechanism as the major process of making profit from investment, it is very important to Venture capital. However, Because of the lack of appropriate laws, regulations or market structures and so on, exit become extremely difficult for China venture capital industry. Exit mechanism of venture capital mainly including four methods, initial public offering (IPO), mergers and acquisitions ¼Ã…’repurchase ¼Ã…’write- off (10). In China, about 15% of venture capital exit mechanism is by IPO in recent years, this is higher than in developed countries, this is not good because over half of listed companies are overseas-listed; over 37% of venture capital exit from mergers and acquisitions which is the highest compare to the other exit mechanisms (Qisong Wang, 2004), and this is still increasing. Both numbers are proving that chinas venture capital exit mechanism lacks of flexibility, the reasons lead to exit inflexibility can be described as follow: lack of appropriate laws, policies or regulations; inadequacy of a well organized market structure; absence of a efficient intermediate service system; limitation on enterprise ownership structure, and so on. One big very important element should be taken into consideration is that the Chinese government involvement. Most domestic venture capital institutions in China carry a government background or were once state owned enterprises, this deprive them of the capability of adapting to the high marketization, ardent competition, high intelligence, and high-responsiveness of the venture capital industry (Gongmeng Chen, 2005). The inflexibility of venture capital investment mechanism and lack of competitiveness is another problem to China venture capital development. If they do not thoroughly press forward with the marketization and globalization reform, even though they can have some development it will not be a long-term intrinsic development. No matter the market or policy environment in China, both have limited the adjustment of venture capital development. What the government can do is to build a more specific regulation system to rule the whole venture capital market. The Chinese marke t is attractive to foreign venture capitalists because of large domestic demand, rapid economic development (Chang Sun, 2006). Government itself can do investing but the more important thing is to encourage private equity and other forms of capital to involve into venture

Graduation Speech -- Graduation Speech, Commencement Address

It is probably a mistake that I am standing here giving a speech for graduation. In fact it is probably a mistake that I am even graduating from this school at all -- believe me, just as most people in this class I have tested the limits of attendance, of sleeplessness, and of procrastination. At the beginning of my high schooling, I was even testing dropping out ... and if that wasn't a mistake, I don't know what was. After four years of Starr altering our minds, it seemed most fitting for me to spend my four minutes talking about mistakes. Thank goodness for them, by the way -- it is only when we truly screw up big time that we are ever stopped in our tracks -- stopped, briefly, to learn lessons of worth. Sometimes, the value of mistakes are seen on a smaller scale; having a semester final turned back with more red marks than a Freshman without Clearasil. Isn't it then when we step back for a moment and look at ourselves? When on our Biology test we couldn't tell a cell from an atom, or an atom from an Eve; when on the math test, we pray to a higher power for a sign, and he give...

Beliefs of Islam Essay

The central beliefs of Islam are summed up in the Five Pillars. These pillars express obligations imposed on Muslims in order to live in accordance with the will of Allah and set requirements for everyday Muslim life. They are the foundation of Islamic faith and reflect its basic tenets. The first Pillar is Shahada, or Iman, believing in God’s oneness. The essence of the first Pillar is reflected in the saying: â€Å"There is no God but Allah and Muhammad is His prophet† (University of Calgary). All Muslims pronounce this simple formulation that embraces the basics of what they believe in. The saying also means that the only worthy purpose in life is to serve and obey Allah and to do so through learning and following the teachings of Muhammad who the Muslims treat as the Last Prophet. Another Pillar is the prayer, or Salah, which the Muslim is supposed to perform five times a day. The prayer establishes a direct connection between the praying person and God. As Islam does not have a hierarchy of priests typical of other religions, â€Å"prayers are led by a learned person who knows the Qur’an and is generally chosen by the congregation† (Islam 101).   The times for prayers are morning, noon, later afternoon, evening and sunset. In this way, prayers accompany Muslims the whole day and remind them of the need to worship God. The next pillar is Zakat, or the obligation to give charity. This demand, â€Å"originally a free-will donation†, has now turned into a compulsory demand to direct 2.5% of one’s annual income for charity or religious purposes (University of Calgary). Muslims in this way purify their wealth by setting aside a portion of it for the poor. Those willing to give more than required by Zakat can do so in secrecy, allocating a portion of their income as sadaqa-h, preferably in secrecy from other Muslims. Fasting (Sawm) relates to the obligation to abstain from food, drink and sexual intercourse in the daytime in the month of Ramadan. The requirement does not refer to those who because of health problems cannot give up eating in the daylight hours. Their fast is transferred to another time, or they have to compensate for it in other ways. Each evening of the Ramadan, Muslims meet to â€Å"break† the fast together when the sun sets. Hajj (Pilgrimage) refers to a trip to Mecca, the holy place to all Muslims. The trip has to be undertaken in an â€Å"egalitarian atmosphere, Ihram† including â€Å"donning of simple white garments, refraining from sex, haircuts, jewelry, arguing† (University of Calgary). During their trip, Muslims circle the Ka’ab, the holy stone. Walking counterclockwise around the stone, they underscore the centrality of the stone in their beliefs. In general, the pilgrimage is arranged in such a way as to commemorate the prophets Abraham, Hagar Ishmael and Muhammad. For example, Sa’y, â€Å"running seven times between hills and drinking from Zamam spring† symbolizes â€Å"Hagar’s running for water† (University of Calgary). The Hajj is not really binding on Muslims since they only have to do this trip if they are physically fit to do it and financially able to afford it. The Five Pillars effectively capture the basic beliefs of Islam: belief in the one-ness of God and the fact that Muhammad was the Last Prophet, centrality of Islamic faith in everyday life, moderate life, sharing of wealth between the rich and the poor. In my opinion, the first Pillar, Iman, is the easiest to realize since it only involves repeating the words over and over again. This is an effective way to remind a person of the nature of one’s beliefs; however, it does not take too much effort. Ramadan, on the other hand, is extremely challenging both to health and will power. At one point I had a good friend who was a devout Muslim and I could observe how staunchly he resists eating and even drinking during the Ramadan. Such abstention can only be withstood by someone who is really devoted to one’s principles and has strong faith in religion. References Islam101. The Five Pillars of Islam. Retrieved June 16, 2006, from http://www.islam101.com/dawah/pillars.html University of Calgary. (n.d.). The Five Pillars of Islam. Retrieved June 16, 2006, from http://www.ucalgary.ca/~elsegal/I_Transp/IO5_FivePillars.html